Who Owns Burger King?
Updated onExplore the ownership hierarchy of Burger King. See parent companies, holding structures, and ultimate controllers.
Ownership Chain
Burger King
Burger King is a global fast-food restaurant chain specializing in flame-grilled hamburgers and other quick-service menu items.
Restaurant Brands International
Restaurant Brands International is a Canadian-based multinational quick service restaurant holding company that owns the Tim Hortons, Burger King, Popeyes, and Firehouse Subs brands, with over 30,000 restaurants in more than 120 countries and territories.
Burger King
Burger King is a global fast-food restaurant chain specializing in flame-grilled hamburgers and other quick-service menu items.
Restaurant Brands International
Restaurant Brands International is a Canadian-based multinational quick service restaurant holding company that owns the Tim Hortons, Burger King, Popeyes, and Firehouse Subs brands, with over 30,000 restaurants in more than 120 countries and territories.
Major Shareholders
Burger King
Major Shareholders
| Name | Type | Ownership | Voting | As of |
|---|---|---|---|---|
Restaurant Brands International Inc. (RBI) Burger King operates as a wholly owned brand and operating subsidiary of Restaurant Brands International Inc. (NYSE:QSR, TSX:QSR), which lists BURGER KING® among its four owned quick-service restaurant brands. | Corporate | 100.0% | — | Dec 2025 |
3G Restaurant Brands Holdings LP (affiliate of 3G Capital) Largest shareholder of RBI. A 13D/A filing dated Dec. 3, 2025 reports beneficial ownership of 99,157,902 exchangeable units, representing approximately 23.22% of RBI’s equity on an as-exchanged basis (common shares plus exchangeable units). | Institutional | 23.2% | 23.2% | Dec 2025 |
Capital Research and Management Company (Capital World Investors) Largest public-market institutional holder of RBI common shares, with about 43.3 million shares (≈13.22% of common shares outstanding) reported as of Sept. 30, 2025. | Institutional | 13.2% | — | Sep 2025 |
Pershing Square Capital Management, L.P. Hedge fund led by Bill Ackman. Owns roughly 22.9 million RBI shares, or about 6.99% of common shares outstanding, based on filings and institutional-holder summaries through Sept. 30, 2025. | Institutional | 7.0% | — | Sep 2025 |
BlackRock, Inc. Filed a Schedule 13G on July 17, 2025 disclosing ownership of about 19.25 million RBI shares, representing approximately 5.9% of the company. | Institutional | 5.9% | — | Jul 2025 |
The Vanguard Group, Inc. Index and ETF manager holding around 15.6 million RBI shares (≈4.77% of common shares) per institutional ownership data as of Sept. 30, 2025. | Institutional | 4.8% | — | Sep 2025 |
EdgePoint Investment Group Inc. Canadian asset manager with about 14.9 million RBI shares, or roughly 4.55% of common shares outstanding, as of Sept. 30, 2025. | Institutional | 4.5% | — | Sep 2025 |
RBC Dominion Securities Inc. (Royal Bank of Canada affiliate) Brokerage and asset-management arm of Royal Bank of Canada; reported holding about 13.1 million RBI shares (≈3.98% of common shares) as of Sept. 30, 2025. | Institutional | 4.0% | — | Sep 2025 |
BMO Asset Management Corp. (Bank of Montreal group) Bank of Montreal’s asset-management arm; holds about 12.1 million RBI shares, corresponding to approximately 3.70% of common shares outstanding as of Sept. 30, 2025. | Institutional | 3.7% | — | Sep 2025 |
The Goldman Sachs Group, Inc. Global investment bank and asset manager; owns roughly 10.0 million RBI shares (≈3.05% of common shares) based on institutional-holder disclosures as of Sept. 30, 2025. | Institutional | 3.0% | — | Sep 2025 |
FMR LLC (Fidelity Investments) Through its mutual funds and accounts, FMR LLC holds around 8.77 million RBI shares, or about 2.67% of common shares, as reported for Sept. 30, 2025. | Institutional | 2.7% | — | Sep 2025 |
The Baupost Group, L.L.C. Value-oriented investment firm led by Seth Klarman; reported position of roughly 8.25 million RBI shares (≈2.52% of common shares) as of Sept. 30, 2025. | Institutional | 2.5% | — | Sep 2025 |
Alexandre Van Damme Belgian investor and former RBI director; cited as the largest individual RBI shareholder with about 5.44 million shares, representing roughly 1.66% of the company. | Individual | 1.7% | — | Oct 2025 |
Restaurant Brands International
Major Shareholders
| Name | Type | Ownership | Voting | As of |
|---|---|---|---|---|
3G Restaurant Brands Holdings LP (affiliate of 3G Capital) Controlling shareholder through exchangeable units of Restaurant Brands International Limited Partnership; Schedule 13D/A filed December 3, 2025 reports beneficial ownership of 99,157,902 exchangeable units, representing about 23.22% of QSR’s common equity. | Corporate | 23.2% | 23.2% | Dec 2025 |
Capital Research and Management Company (Capital World Investors) Largest public institutional shareholder; 13F/ownership data show 43.3M shares, or ~13.22% of QSR outstanding as of September 30, 2025. | Institutional | 13.2% | 13.2% | Sep 2025 |
Pershing Square Capital Management, L.P. Hedge fund led by Bill Ackman; filings show ~22.9M shares, about 6.99% of QSR as of September 30, 2025, and it remains one of Pershing Square’s core holdings. | Institutional | 7.0% | 7.0% | Sep 2025 |
BlackRock, Inc. Global asset manager; ownership tables report ~19.3M shares, or about 5.87% of QSR as of June 30, 2025. | Institutional | 5.9% | 5.9% | Jun 2025 |
Royal Bank of Canada group (incl. Royal Bank of Canada / Royal Trust / RBC asset-management affiliates) Canadian banking group; consolidated disclosures (e.g., Royal Bank of Canada, Royal Trust Corp. of Canada, RBC Dominion) indicate roughly 23.1M QSR shares, about 7.0% of the company, making RBC one of the largest Canadian institutional holders. | Institutional | 7.0% | 7.0% | — |
The Vanguard Group, Inc. Index and ETF manager; holds about 15.6M QSR shares, or 4.77% of shares outstanding as of September 30, 2025. | Institutional | 4.8% | 4.8% | Sep 2025 |
EdgePoint Investment Group Inc. Canadian asset manager; filings show ~14.9M shares (~4.55% of QSR) as of September 30, 2025. | Institutional | 4.5% | 4.5% | Sep 2025 |
Bank of Montreal (BMO) / BMO Asset Management Corp. Owns approximately 12.1M QSR shares, about 3.70% of shares outstanding, based on institutional holder data for September 30, 2025. | Institutional | 3.7% | 3.7% | Sep 2025 |
The Goldman Sachs Group, Inc. Investment bank and asset manager; reported to hold about 10.0M QSR shares (~3.05%) as of September 30, 2025. | Institutional | 3.0% | 3.0% | Sep 2025 |
FMR LLC (Fidelity Investments) Major U.S. asset manager; filings show ~8.8M shares (~2.67% of QSR) as of September 30, 2025. | Institutional | 2.7% | 2.7% | Sep 2025 |
The Baupost Group, L.L.C. Hedge fund led by Seth Klarman; holds about 8.25M QSR shares, or roughly 2.52% of the company, according to Q3 2025 holdings data. | Institutional | 2.5% | 2.5% | Sep 2025 |
Alexandre Van Damme Largest disclosed individual shareholder; estimated to hold about 5.44M QSR shares (roughly 1.66% of the company). | Individual | 1.7% | 1.7% | — |
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