Restaurant Brands International Inc.
US ˙ NYSE ˙ CA76131D1033

SecurityQSR / Restaurant Brands International Inc.
InstitutionSpears Abacus Advisors LLC
Latest Disclosed Ownership306,831 shares
Latest Disclosed Value $ 22,674,795
Spears Abacus Advisors LLC reports 2.70% increase in ownership of QSR / Restaurant Brands International Inc.

On May 15, 2026 - Spears Abacus Advisors LLC filed a 13F-HR/A form disclosing ownership of 306,831 shares of Restaurant Brands International Inc. (US:QSR) valued at $22,674,811 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 298,769 shares of Restaurant Brands International Inc.. This represents a change in shares of 2.70% during the quarter. The current value of the position is $22,294,340 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F/A-1 RESTAURANT BRANDS INTL COM 76131D103 306,831 8,062 2.70 22,675 11.23 0.4446
2026-05-14 2026-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 306,854 8,085 22,634 0.4484
2026-02-17 2025-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 298,769 -2,224 -0.74 20,385 5.59 0.3814
2025-11-14 2025-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 300,993 -50,561 -14.38 19,306 -17.16 0.3641
2025-08-14 2025-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 351,554 -6,101 -1.71 23,304 -2.22 0.4706
2025-05-14 2025-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 357,655 -4,956 -1.37 23,834 0.85 0.5132
2025-02-12 2024-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 362,611 -72,331 -16.63 23,635 -24.66 0.4855
2024-11-12 2024-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 434,942 -770,291 -63.91 31,368 -63.01 0.6174
2024-08-12 2024-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 1,205,233 804,461 200.73 84,812 166.36 1.7596
2024-05-10 2024-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 400,772 39,577 10.96 31,841 12.83 0.6583
2024-02-14 2023-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 361,195 5,970 1.68 28,220 19.25 2.2469
2023-11-21 2023-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 355,225 8,030 2.31 23,665 -12.07 2.0287
2023-08-14 2023-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 347,195 -534 -0.15 26,915 15.28 2.1958
2023-05-15 2023-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 347,729 24,121 7.45 23,347 11.56 2.0904
2023-02-13 2022-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 323,608 19,469 6.40 20,928 29.39 1.9955
2022-11-14 2022-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 304,139 -3,077 -1.00 16,174 4.98 1.5965
2022-08-08 2022-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 307,216 41,546 15.64 15,407 -0.68 1.3886
2022-05-13 2022-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 265,670 16,403 6.58 15,512 2.55 1.1512
2022-02-14 2021-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 249,267 8,088 3.35 15,126 2.49 1.0205
2021-11-15 2021-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 241,179 16,452 7.32 14,758 1.91 1.0670
2021-08-09 2021-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 224,727 40,797 22.18 14,481 21.13 1.0404
2021-05-14 2021-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 183,930 3,306 1.83 11,955 8.31 0.9238
2021-02-12 2020-12-31 13F RESTAURANT BRANDS INTL COM 76131D103 180,624 -2,594 -1.42 11,038 4.75 0.9221
2020-11-16 2020-09-30 13F RESTAURANT BRANDS INTL COM 76131D103 183,218 760 0.42 10,537 5.71 1.0037
2020-08-12 2020-06-30 13F RESTAURANT BRANDS INTL COM 76131D103 182,458 2,884 1.61 9,968 38.68 1.0483
2020-05-15 2020-03-31 13F RESTAURANT BRANDS INTL COM 76131D103 179,574 179,574 7,188 0.8794
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.