We also initiated a position in Restaurant Brands International (TSX:QSR, Financial) (Canada) during the quarter, which operates quick-service restaurants, including Tim Hortons, Burger King and Popeyes. We are excited to invest alongside this management team and we believe the quick-service restaurant industry is an attractive market that has historically demonstrated low cyclicality while steadily increasing share of global food consumption.
From David Herro (Trades, Portfolio)'s Oakmark International Fund fourth-quarter 2020 shareholder commentary.
