- Quarter end
- 30 Jun 2025
- the date the book describes
- Filed
- 18 Aug 2025
- latest of these filings; the earliest 13 Aug 2025
- Managers listing it
- 12
- at least, of 95 tracked, among listed positions
- Comparable managers
- 95
- filed both Q1 2025 and Q2 2025; 9 listed it in both
- Shares listed
- 84,316,126
- combined, among listed positions
- Reported value
- $5.6bn
- combined, at the quarter end
Among the 95 comparable managers: 8 buyers (opened or added shares) and 4 sellers (trimmed or exited), at least, among listed positions. Their net change in shares is not known from listed positions, because at least one of them lists it in only one of the two quarters.
Managers listing QSR in Q2 2025
12 of 12 holders
Largest increases and reductions, by shares
Increases
- Fidelity (FMR LLC)existing position · 9,095,773 shares now+1,013,743
- Capital World Investorsexisting position · 43,010,053 shares now+424,465
- Man Group PLCexisting position · 621,252 shares now+282,036
- Hudson Bay Capital Management LPnew position · 221,102 shares now+221,102
- Baupost Group LLCexisting position · 4,049,562 shares now+163,000
Reductions
- Capital Research Global Investorsexisting position · 2,591,542 shares now-3,009,488
- Bridgewater Associates LPexisting position · 13,010 shares now-10,156
New positions and exits
New (2)
Exited (2)
- Davidson Kempner Capital Management LPwas $8.5m
- D1 Capital Partners LPwas $6.2m
Ownership over time
Tracked managers listing it, at least.
| Quarter | Holders | Reported value | Buyers | Sellers |
|---|---|---|---|---|
| Q4 2014 | 14 | $2.8bn | n.a. | n.a. |
| Q1 2015 | 9 | $2.4bn | n.a. | n.a. |
| Q2 2015 | 9 | $2.5bn | n.a. | n.a. |
| Q3 2015 | 7 | $2.4bn | n.a. | n.a. |
| Q4 2015 | 10 | $2.9bn | n.a. | n.a. |
| Q1 2016 | 12 | $2.8bn | n.a. | n.a. |
| Q2 2016 | 12 | $3.0bn | n.a. | n.a. |
| Q3 2016 | 12 | $3.2bn | n.a. | n.a. |
| Q4 2016 | 15 | $3.4bn | n.a. | n.a. |
| Q1 2017 | 13 | $4.0bn | n.a. | n.a. |
| Q2 2017 | 12 | $4.5bn | n.a. | n.a. |
| Q3 2017 | 20 | $5.0bn | n.a. | n.a. |
| Q4 2017 | 22 | $5.0bn | n.a. | n.a. |
| Q1 2018 | 20 | $4.2bn | n.a. | n.a. |
| Q2 2018 | 23 | $3.9bn | n.a. | n.a. |
| Q3 2018 | 16 | $3.6bn | n.a. | n.a. |
| Q4 2018 | 19 | $3.1bn | n.a. | n.a. |
| Q1 2019 | 19 | $4.1bn | n.a. | n.a. |
| Q2 2019 | 16 | $3.9bn | n.a. | n.a. |
| Q3 2019 | 29 | $6.1bn | n.a. | n.a. |
| Q4 2019 | 24 | $4.6bn | n.a. | n.a. |
| Q1 2020 | 15 | $2.5bn | n.a. | n.a. |
| Q2 2020 | 13 | $3.0bn | n.a. | n.a. |
| Q3 2020 | 9 | $3.6bn | n.a. | n.a. |
| Q4 2020 | 7 | $3.9bn | n.a. | n.a. |
| Q1 2021 | 8 | $4.1bn | n.a. | n.a. |
| Q2 2021 | 7 | $4.3bn | n.a. | n.a. |
| Q3 2021 | 7 | $4.1bn | n.a. | n.a. |
| Q4 2021 | 6 | $4.2bn | n.a. | n.a. |
| Q1 2022 | 7 | $4.0bn | n.a. | n.a. |
| Q2 2022 | 10 | $3.5bn | n.a. | n.a. |
| Q3 2022 | 14 | $3.9bn | n.a. | n.a. |
| Q4 2022 | 16 | $5.4bn | n.a. | n.a. |
| Q1 2023 | 13 | $6.2bn | n.a. | n.a. |
| Q2 2023 | 16 | $7.4bn | n.a. | n.a. |
| Q3 2023 | 11 | $6.2bn | n.a. | n.a. |
| Q4 2023 | 13 | $7.6bn | 8 | 4 |
| Q1 2024 | 11 | $8.1bn | 6 | 5 |
| Q2 2024 | 14 | $7.2bn | 8 | 8 |
| Q3 2024 | 13 | $7.2bn | 6 | 8 |
| Q4 2024 | 15 | $6.1bn | 8 | 5 |
| Q1 2025 | 14 | $6.0bn | 5 | 8 |
| Q2 2025 | 12 | $5.6bn | 8 | 4 |
| Q3 2025 | 11 | $5.4bn | 5 | 7 |
| Q4 2025 | 11 | $5.9bn | 15 | 19 |
| Q1 2026 | 10 | $6.3bn | 14 | 15 |
| Q2 2026 | 8 | $6.4bn | 17 | 13 |
Compare with…
Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.
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How much of the picture this is
A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.
Which funds own QSR, latest filings →Back to the 13F Explorer →