Aspiriant 13F: Exits Restaurant Brands International (QSR) Stake

Aspiriant disclosed on October 16, 2026, that it sold out of its position in Restaurant Brands International Inc. (NYSE: QSR), cutting 13,089 shares that were valued at about $974,000 based on recent trading prices.

What Changed in Aspiriant's Position

Aspiriant completely exited its stake in Restaurant Brands International, moving from 13,089 shares to zero. This decision reflects a 100% decrease in their holdings.

Other Institutional Activity in Restaurant Brands International

In recent filings, Capital World Investors increased its holdings by 1,002,925 shares, ending with 43,862,952 shares worth about $3.28 billion. Pershing Square Inc. also made notable moves, adding 12,910,642 shares, bringing its total to 25,821,284 shares valued at approximately $1.93 billion. Royal Bank of Canada raised its stake by 1,849,694 shares, now holding 20,236,317 shares worth about $1.51 billion. Conversely, Edgepoint Investment Group Inc. reduced its position by 2,176,676 shares, while BlackRock Inc. boosted its holdings by 7,239,278 shares to 15,228,770 shares valued at around $1.14 billion.

Restaurant Brands International Inc. Stock Up 1.1%

Restaurant Brands International shares recently traded around $74.96, which is about equal to its 50-day moving average of $74.88. However, the stock is currently 8.5% below its 52-week high of $81.96 and below the mean target price of $86.00 set by analysts.

Recent Earnings

For the trailing twelve months, Restaurant Brands reported revenue of approximately $9.7 billion and an earnings per share (EPS) of $3.98. The company has shown a year-over-year revenue growth of 4.6%. Its next earnings report is scheduled for October 29, 2026.

Dividend

Restaurant Brands International pays an annual dividend of $2.60 per share, which gives it a yield of 3.51%. The company has a dividend payout ratio of 63.8%.

Insider Buying and Selling at Restaurant Brands International Inc.

Recent insider transactions included General Counsel Jill M. Granat selling 50,000 shares on March 18, 2026. Officer Jeffrey Housman sold 20,000 shares on March 20, 2026, at an average price of $73.48, totaling about $1.47 million. Additionally, Officer Thomas Benjamin Curtis IV sold 64,000 shares on August 21, 2026, at an average price of $80.72, which was worth about $5.17 million. Officer Axel Mr. Schwan also sold 57,574 shares on September 4, 2026, at an average price of $81.14, totaling approximately $4.67 million.

Analysts Set New Price Targets

On September 18, 2026, Guggenheim maintained a "Buy" rating with a price target of $86.00, up from a prior target of $85.00. However, Argus Research downgraded its rating to "Hold" on September 25, 2026. JP Morgan maintained an "Overweight" rating with a target of $78.00 on September 29, while TD Cowen also maintained a "Hold" rating with a target of $78.00 on October 7. Morgan Stanley maintained its "Equal-Weight" rating with a target of $82.00 on October 15.

About Restaurant Brands International

Restaurant Brands International Inc. is a global quick-service restaurant company based in Miami, Florida. It operates well-known brands like Tim Hortons, Burger King, and Popeyes Louisiana Kitchen. The recent activity in its stock reflects various investors' strategies as they adjust their holdings in this well-established company.

Bottom Line

Aspiriant's complete exit from Restaurant Brands International illustrates a shift in investment strategy. As the company prepares for its next earnings report on October 29, 2026, it's worth noting that 13F filings are backward-looking and may not represent the current position of investors.