Restaurant Brands International (NYSE: QSR) 
$62.92 ▼ –0.56 (–0.88%) 🍔 
As of Sep-12-2025, 4:10 PM ET ☕

👨💼 Bill Ackman: The Activist With a Taste for Controversy

If there’s one investor who knows how to stir the pot (or the fryer), it’s Bill Ackman. His Pershing Square Capital Management owns ~10% of QSR, the parent company of Burger King, Tim Hortons, Popeyes, and Firehouse Subs. That’s not exactly a happy meal-sized bet — that’s conviction-level supersizing. 🍟

Ackman says his best trades are always controversial — and he’s not wrong. But here’s what isn’t up for debate: his Big Short via credit default swaps turned $27M into $2.7B in 30 days. That’s the type of money that lets you order avocado toast at every meal without blinking. 🥑💸

So why does Ackman like QSR? Let’s dig in.

📊 Ackman’s Portfolio Snapshot (as of 2025)

• 🚖 Uber (19.7%) – riding high, +33% since his buy.

• 🌲 Brookfield (19.0%) – big Canadian bet, +40%.

• 🏘️ Howard Hughes (10.4%) – a long-term real estate saga.

• 🔠 Alphabet (19.2% across A & C shares) – double dipping in Google, huge gains.

• 🍔 Restaurant Brands International (9.8%) – bought at $41, now +53%.

• 📦 Amazon (9.0%) – a fresh buy.

• 🏨 Hilton (5.7%) – a room service dream at +227%.

• 🌮 Chipotle (5.7%) – spicy gains at +378% since his entry.

• 🎢 Seaport Entertainment (0.9%) – meh, down ~19%.

• 🚗 Hertz (0.7%) – a turnaround rental play.

The man clearly likes compounders, franchises, and long-term brands — and QSR seems to fit right in.

🍩☕ What’s on QSR’s Menu?

Restaurant Brands International is headquartered in Toronto and runs some of the world’s biggest quick-service names:

• 🍔 Burger King – flame-grilled burgers worldwide.

• ☕ Tim Hortons – Canada’s coffee & donut sweetheart.

• 🍗 Popeyes – Louisiana chicken that made sandwich wars fun again.

• 🥪 Firehouse Subs – hearty subs with a community feel.

In other words: caffeine, grease, fried chicken, and subs. The four horsemen of guilty pleasures.

📈 The Numbers (Q2 2025)

• Systemwide sales: +5.3% Y/Y

• Comparable sales: +2.4%

  • Burger King Int’l: +4.1%

  • Tim Hortons Canada: +3.6%

• Guidance: On track for 8%+ Adjusted Operating Income growth in 2025.

• Dividend: $0.62/share (3.9% yield — not bad for burger money 💵🍔).

• Buyback: $1B approved through 2027.

CEO Josh Kobza says franchisee alignment + marketing = momentum. Translation: the Whopper’s selling, and Timmies’ double-doubles still fuel Canada. 🇨🇦

👉 Want the full picture? Dive into Restaurant Brands International (QSR)'s financials here.

💼 Who Else Likes QSR?

Institutions are heavy:

• 📊 Capital World Investors – 43M shares.

• 🍔 Pershing Square (Ackman) – 23M shares.

• 🏦 Royal Bank of Canada – 21M shares.

• 🛡️ Vanguard – 15M shares.

• 💰 Goldman Sachs – ramped up +22%.

• ⚫ BlackRock – exploded holdings by +2900%.

👉 Total: 90.6% institutional ownership. That’s a lot of suits eating fast food.

But… insiders? Crickets. Not a single buy in recent years. Makes you wonder: if it’s such a feast, why aren’t the chefs nibbling? 🍔👀

For Restaurant Brands International (QSR)'s Institutional Ownership breakdown, 🔍 see here

⚖️ Valuation Check

• Forward P/E: 11.3 (compelling, cheap vs peers).

• Price/Sales: 3.15 (not so cheap).

• Price/Book: 6.2 (definitely not cheap).

• EV/EBITDA: 14.6 (reasonable for the space).

Stock’s still 30% below ATH of $83 (March 2024). Feels more like a value combo meal than a gourmet prix fixe.

🚨 Risks to Chew On

1. Rising costs – food, labor, supply chain headaches.

2. Competition – McDonald’s, Wendy’s, Chick-fil-A, Starbucks… a crowded food court.

3. Changing tastes – kale smoothies > burgers (at least on Instagram). 🥬📸

4. Debt load – D/E = 3.1, Debt/EBITDA = 6.0. Heavy.

5. Burger King China – underperformance still stings.

6. Macro risks – recessions, food safety scares, supply chain chaos.

💡💡💡 Curious about another deep oil exploration play?
Check our takes on UnitedHealth Group or even Oscar Health.

✅ TL;DR / Quick Take

• Ackman loves it: 10% stake, +50% since entry.

• Institutions love it: 90% ownership.

• Insiders? Not so much: no buys in years.

• Valuation: forward P/E ~11 = looks cheap.

• Dividend + Buyback: shareholder-friendly.

• Growth: steady, not spicy.

🍔 Verdict: A value play, slow compounder. Ackman likes boring because boring pays. Might shine in a downturn. Not a “to the moon” 🚀 stock — more like “to the drive-thru.”

❓ FAQ

Q: Why does Bill Ackman like QSR so much?
A: He likes global brands with sticky franchises. Burgers, donuts, chicken, and subs never go out of style.

Q: Is QSR cheap right now?
A: On earnings (forward P/E ~11), yes. On book and sales multiples, not so much.

Q: Does QSR pay a dividend?
A: Yep. ~3.9% yield — one of the highest in the quick-service sector. That’s your fries covered. 🍟

Q: What’s the biggest risk?
A: Debt, competition, and changing consumer tastes. If Gen Z decides oat milk + avocado toast is all they want, QSR could lag.

Q: Should I buy?
A: If you want slow and steady, maybe. If you want fireworks, look elsewhere (hi, Chipotle 🌶️🔥, another Ackman holding).

🧾⚠️📢 Disclaimer: 🧾⚠️📢

We prefer fine dining (Four Charles in NYC or Abe & Louie’s in Boston 🍷🥩). Investing in Restaurant Brands may still get bumpy. 🎢

Always DYOR, hold the FOMO, and don’t invest what you can’t afford to lose.

We laugh, we analyze, we meme. We sell jokes and opinions — and yes, we’re billing your sense of humor. 🎪💸 
We’re not financial advisors. We’re FUNancial advisors. 

Invest at your own risk.

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