Value investing icon Seth Klarman's Baupost Group reduced its stake in Restaurant Brands International (QSR) by 16.42% during the second quarter of 2026. According to its latest 13F filing, the fund sold approximately 1.33 million shares, leaving it with a substantial position of 6.75 million shares valued at nearly $490 million. Despite the reduction, the owner of Burger King, Popeyes, and Tim Hortons remains one of Baupost's top holdings, accounting for just over 9% of its reported portfolio.
This trade information comes from a quarterly SEC disclosure filed on August 13, 2026, which reflects the firm's holdings as of June 30, 2026. During the second quarter, QSR's parent company reported that strong performance and an 8.5% sales jump at Burger King U.S. helped offset a sales decline at Popeyes. Baupost's sale occurred at an average share price of around $76.11 during the quarter.