Pershing Square Holdings, an investment holding company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund generated NAV performance of -26% at the end of the first half, which was slightly higher than the total shareholder returns of -27.3%. Through August 16, 2022, the fund returned -10.8% compared to a -8.8% return for the S&P 500 index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Pershing Square Holdings discussed stocks like Restaurant Brands International Inc. (NYSE:QSR) in the second quarter investor letter. Headquartered in Toronto, Canada, Restaurant Brands International Inc. (NYSE:QSR) is a quick-service restaurant company. On September 15, 2022, Restaurant Brands International Inc. (NYSE:QSR) stock closed at $59.06 per share. One-month return of Restaurant Brands International Inc. (NYSE:QSR) was -0.08% and its shares lost 6.13% of their value over the last 52 weeks. Restaurant Brands International Inc. (NYSE:QSR) has a market capitalization of $26.774 billion.
Here is what Pershing Square Holdings specifically said about Restaurant Brands International Inc. (NYSE:QSR) in its Q2 2022 investor letter:
“Restaurant Brands International Inc. (NYSE:QSR)’s franchised business model is a high-quality, capital-light, growing annuity that generates high-margin brand royalty fees from its four leading brands: Burger King, Tim Hortons, Popeyes, and Firehouse Subs.
QSR is investing in each of its brands to position them for sustainable, long-term growth. As Canada reopened, Tim Hortons’ same-store sales returned to growth during the quarter compared to pre-COVID levels, driven by growth across all dayparts, formats, regions and product categories aside from hot beverage. The company is focused on executing the next phase of its “Back to Basics” plan by extending its beverage platform, capturing a greater share of afternoon foods and continuing its brand modernization. Longer-term, management believes it can sustainably grow same-store sales at a low-single-digit rate.
At Burger King in the U.S., the company also reported improved results and narrowed the gap to its peers. Recently-appointed Burger King U.S. President Tom Curtis and his team have begun to lay the foundation for a return to sustainable growth. We believe the company has a meaningful opportunity to reinvigorate growth and modernize its store base through a reinvestment plan. The company will be unveiling its “reclaim the flame” plan to franchisees next month…” (Click here to read the full text)
Jonathan Weiss/Shutterstock.com
Restaurant Brands International Inc. (NYSE:QSR) is not on the list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios were held by Restaurant Brands International Inc. (NYSE:QSR) at the end of the second quarter which was 23 in the previous quarter.
We discussed Restaurant Brands International Inc. (NYSE:QSR) in another article and shared the list of defensive restaurant stocks to buy amid fears of recession. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
