Who Owns Tim Hortons?
Updated onExplore the ownership hierarchy of Tim Hortons. See parent companies, holding structures, and ultimate controllers.
Ownership Chain
Tim Hortons
Canadian-origin coffee and quick-service chain offering coffee, baked goods and breakfast items, with a strong presence in Canada and growing international footprint.
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.
Tim Hortons
Canadian-origin coffee and quick-service chain offering coffee, baked goods and breakfast items, with a strong presence in Canada and growing international footprint.
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
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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