The Wendy's Company
US ˙ NasdaqGS ˙ US95058W1009

SecurityWEN / The Wendy's Company
InstitutionTrian Fund Management, L.p.
Ownership 15.19%
Trian Fund Management, L.p. ownership in WEN / The Wendy's Company
Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2024-09-06 2024-09-06 13D/A 15.19 0.00
2024-08-09 2024-08-09 13D/A 15.19 -5.77
2023-08-23 2023-08-23 13D/A 16.12 -7.30
2023-06-02 2023-06-02 13D/A 17.39 -1.64
2023-03-03 2023-03-03 13D/A 17.68 -8.63
2023-01-13 2023-01-13 13D/A 19.35 0.57
2022-05-24 2022-05-24 13D/A 19.24 4.51
2019-08-16 2019-08-16 13D/A 18.41 -4.61
2019-03-07 2019-03-07 13D/A 19.30 -2.62
2018-05-17 2018-05-17 13D/A 19.82 0.00
2018-05-16 2018-05-16 13D/A 19.82 -3.65
2018-02-27 2018-02-27 13D/A 20.57 -7.88
2017-06-06 2017-06-06 13D/A 22.33 -4.78
2016-12-07 2016-12-07 13D/A 23.45 13.50
2015-12-15 2015-12-15 13D/A 20.66 6.11
2015-07-20 2015-07-20 13D/A 19.47 -5.39
2015-07-09 2015-07-09 13D/A 20.58 0.00
2015-06-26 2015-06-26 13D/A 20.58 -6.24
2015-06-19 2015-06-19 13D/A 21.95 -10.88
2015-06-03 2015-06-03 13D/A 24.63
2014-09-18 2014-09-18 13D/A 24.39
2014-01-16 2014-01-16 13D/A 23.29
2014-01-14 2014-01-14 13D/A 27.41
2012-02-06 2012-02-06 13D/A 27.02

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F Wendys COM 95058W100 30,446,022 5,704 0.02 211,600 -16.55 5.4822
2026-02-17 2025-12-31 13F Wendys COM 95058W100 30,440,318 3,295 0.01 253,568 -9.05 6.3646
2025-11-14 2025-09-30 13F Wendys COM 95058W100 30,437,023 2,229 0.01 278,803 -19.78 6.7881
2025-08-14 2025-06-30 13F Wendys COM 95058W100 30,434,794 11,111 0.04 347,565 -21.91 9.1660
2025-05-15 2025-03-31 13F Wendys COM 95058W100 30,423,683 -101,346 -0.33 445,098 -10.54 11.9146
2025-02-14 2024-12-31 13F Wendys COM 95058W100 30,525,029 12,434 0.04 497,558 -6.93 12.8220
2024-11-13 2024-09-30 13F Wendys COM 95058W100 30,512,595 -995,273 -3.16 534,581 0.04 13.7389
2024-08-14 2024-06-30 13F Wendys COM 95058W100 31,507,868 40,718 0.13 534,373 -9.86 13.0342
2024-05-15 2024-03-31 13F Wendys COM 95058W100 31,467,150 0 0.00 592,841 -3.29 7.3907
2024-02-14 2023-12-31 13F Wendys COM 95058W100 31,467,150 -1,883,593 -5.65 612,980 -9.95 8.7484
2023-11-14 2023-09-30 13F Wendys COM 95058W100 33,350,743 12,618,115 60.86 680,689 50.95 10.3534
2023-08-15 2023-06-30 13F/A-1 Wendys COM 95058W100 20,732,628 -973,142 -4.48 450,935 -4.61 11.6198
2023-08-14 2023-06-30 13F Wendys COM 95058W100 20,732,628 -973,142 450,935 11.6198
2023-05-15 2023-03-31 13F Wendys COM 95058W100 21,705,770 -3,627,569 -14.32 472,752 -17.54 12.6015
2023-02-15 2022-12-31 13F/A-2 Wendys COM 95058W100 25,333,339 0 0.00 573,293 21.08 11.7628
2023-02-15 2022-12-31 13F/A-1 Wendys COM 95058W100 25,333,339 0 573 11.7628
2023-02-14 2022-12-31 13F Wendys COM 95058W100 25,333,339 0 573 14.8073
2022-11-14 2022-09-30 13F Wendys COM 95058W100 25,333,339 0 0.00 473,480 -1.01 12.4674
2022-08-12 2022-06-30 13F Wendys COM 95058W100 25,333,339 0 0.00 478,293 -14.06 10.5120
2022-05-13 2022-03-31 13F Wendys COM 95058W100 25,333,339 0 0.00 556,573 -7.88 9.3186
2022-02-11 2021-12-31 13F Wendys COM 95058W100 25,333,339 0 0.00 604,200 10.01 8.1000
2021-11-12 2021-09-30 13F Wendys COM 95058W100 25,333,339 -1,297,290 -4.87 549,227 -11.94 6.8280
2021-08-13 2021-06-30 13F Wendys COM 95058W100 26,630,629 0 0.00 623,689 15.60 7.2910
2021-05-14 2021-03-31 13F Wendys COM 95058W100 26,630,629 0 0.00 539,537 -7.57 6.3800
2021-02-12 2020-12-31 13F Wendys COM 95058W100 26,630,629 0 0.00 583,743 -1.70 8.6389
2020-11-16 2020-09-30 13F Wendys COM 95058W100 26,630,629 0 0.00 593,863 2.39 9.8138
2020-08-14 2020-06-30 13F Wendys COM 95058W100 26,630,629 0 0.00 580,015 46.37 12.0231
2020-05-15 2020-03-31 13F Wendys COM 95058W100 26,630,629 0 0.00 396,264 -33.00 5.7106
2020-02-14 2019-12-31 13F Wendys COM 95058W100 26,630,629 0 0.00 591,466 11.16 6.2362
2019-11-14 2019-09-30 13F Wendys COM 95058W100 26,630,629 -2,000,000 -6.99 532,080 -5.09 5.5541
2019-08-14 2019-06-30 13F Wendys COM 95058W100 28,630,629 0 0.00 560,588 9.45 5.9165
2019-05-15 2019-03-31 13F Wendys COM 95058W100 28,630,629 -3,000,000 -9.48 512,202 3.74 5.4820
2019-02-14 2018-12-31 13F Wendys COM 95058W100 31,630,629 0 0.00 493,754 -8.93 5.3454
2018-11-14 2018-09-30 13F Wendys COM 95058W100 31,630,629 0 0.00 542,149 -0.23 5.2441
2018-08-14 2018-06-30 13F Wendys COM 95058W100 31,630,629 -2,405,292 -7.07 543,414 -9.03 5.4153
2018-05-15 2018-03-31 13F Wendys COM 95058W100 34,035,921 -5,000,000 -12.81 597,330 -6.81 6.0255
2018-02-14 2017-12-31 13F Wendys COM 95058W100 39,035,921 0 0.00 640,970 5.73 5.4227
2017-11-14 2017-09-30 13F Wendys COM 95058W100 39,035,921 0 0.00 606,228 0.13 4.6692
2017-08-11 2017-06-30 13F Wendys COM 95058W100 39,035,921 -5,500,000 -12.35 605,447 -0.11 4.5635
2017-05-12 2017-03-31 13F Wendys COM 95058W100 44,535,921 0 0.00 606,134 0.67 4.5461
2017-02-14 2016-12-31 13F Wendys COM 95058W100 44,535,921 3,743,384 9.18 602,126 36.67 5.4274
2016-11-14 2016-09-30 13F Wendys COM 95058W100 40,792,537 0 0.00 440,559 12.27 4.3041
2016-08-12 2016-06-30 13F Wendys COM 95058W100 40,792,537 0 0.00 392,424 -11.66 3.7384
2016-05-13 2016-03-31 13F Wendys COM 95058W100 40,792,537 0 0.00 444,231 1.11 4.2778
2016-02-16 2015-12-31 13F Wendys COM 95058W100 40,792,537 0 0.00 439,336 24.51 3.5631
2015-11-13 2015-09-30 13F Wendys COM 95058W100 40,792,537 -13,232,044 -24.49 352,855 -42.10 3.0118
2015-08-14 2015-06-30 13F Wendys COM 95058W100 54,024,581 -10,775,664 -16.63 609,397 -13.72 6.7472
2015-05-15 2015-03-31 13F Wendys COM 95058W100 64,800,245 0 0.00 706,323 20.71 8.2511
2015-01-08 2014-12-31 13F Wendys COM 95058W100 64,800,245 0 0.00 585,146 9.32 6.2040
2014-11-13 2014-09-30 13F Wendys COM 95058W100 64,800,245 0 0.00 535,250 -3.17 7.0355
2014-08-14 2014-06-30 13F Wendys COM 95058W100 64,800,245 0 0.00 552,746 -6.47 8.1335
2014-05-15 2014-03-31 13F Wendys COM 95058W100 64,800,245 -18,200,000 -21.93 590,978 -18.35 10.2465
2014-02-14 2013-12-31 13F Wendys COM 95058W100 83,000,245 0 0.00 723,762 2.83 12.2023
2013-11-14 2013-09-30 13F Wendys COM 95058W100 83,000,245 0 0.00 703,842 45.45 12.8901
2013-08-14 2013-06-30 13F Wendys COM 95058W100 83,000,245 83,000,245 483,891 9.5284
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.