Who owns Wendy's (WEN)
Which tracked institutional funds hold WEN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See WEN company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
78 tracked funds added or opened WEN while 57 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
WEN’s largest tracked holder by dollar value, TRIAN FUND MANAGEMENT, L.P., sizes it at 6.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 6.0pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in WEN divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 381 tracked filers holding WEN, 201 increased or opened the position and 235 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in WEN between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 11
- Jupiter Topco LLC$13M
- ELEMENT CAPITAL MANAGEMENT LLC$7M
- Converium Capital Inc.$4M
- First Eagle Investment Management, LLC$3M
- XTX Topco Ltd$2M
- CenterBook Partners LP$2M
Full exits 22
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$28M
- NORGES BANK$27M
- MILLENNIUM MANAGEMENT LLC$24M
- HRT FINANCIAL LP$20M
- Oasis Management Co Ltd.$11M
- JANUS HENDERSON GROUP PLC$6M
Largest adds
- BlackRock, Inc.$67M
- FAIRFAX FINANCIAL HOLDINGS LTD/ CAN$44M
- TRIAN FUND MANAGEMENT, L.P.$41M
- VANGUARD PORTFOLIO MANAGEMENT LLC$21M
- CHARLES SCHWAB INVESTMENT MANAGEMENT INC$17M
- STATE STREET CORP$16M
Largest trims
- BANK OF AMERICA CORP /DE/$21M
- MORGAN STANLEY$20M
- TWO SIGMA INVESTMENTS, LP$15M
- RENAISSANCE TECHNOLOGIES LLC$15M
- FMR LLC$12M
- JANE STREET GROUP, LLC$12M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| TRIAN FUND MANAGEMENT, L.P. added | 30,468,434 | $253M | 17.6% | 2026-Q2 |
| BlackRock, Inc. added | 26,314,724 | $218M | 15.2% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC added | 10,301,732 | $85M | 6.0% | 2026-Q2 |
| FAIRFAX FINANCIAL HOLDINGS LTD/ CAN added | 8,005,627 | $66M | 4.6% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 7,523,646 | $62M | 4.4% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC added | 6,924,310 | $57M | 4.0% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN trimmed | 6,684,034 | $55M | 3.9% | 2026-Q2 |
| STATE STREET CORP added | 6,566,985 | $54M | 3.8% | 2026-Q2 |
| HARRIS ASSOCIATES L P trimmed | 5,587,137 | $46M | 3.2% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 4,270,644 | $35M | 2.5% | 2026-Q2 |
| MORGAN STANLEY trimmed | 3,995,468 | $33M | 2.3% | 2026-Q2 |
| NORTHERN TRUST CORP added | 3,518,292 | $29M | 2.0% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP added | 3,499,298 | $29M | 2.0% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 2,475,000 | $21M | 1.4% | 2026-Q2 |
| UBS Group AG trimmed | 2,392,515 | $20M | 1.4% | 2026-Q2 |
| Bank of New York Mellon Corp added | 2,280,217 | $19M | 1.3% | 2026-Q2 |
| Point72 Asset Management, L.P. added | 1,915,535 | $16M | 1.1% | 2026-Q2 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC added | 1,911,960 | $16M | 1.1% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,869,697 | $15M | 1.1% | 2026-Q2 |
| Invesco Ltd. added | 1,702,730 | $14M | 1.0% | 2026-Q2 |
| Connor, Clark & Lunn Investment Management Ltd. trimmed | 1,667,124 | $14M | 1.0% | 2026-Q2 |
| Jupiter Topco LLC new | 1,529,010 | $13M | 0.9% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC trimmed | 1,485,727 | $12M | 0.8% | 2026-Q2 |
| PEAK6 LLC added | 1,470,384 | $12M | 0.9% | 2026-Q2 |
| TWO SIGMA INVESTMENTS, LP trimmed | 1,368,445 | $11M | 0.8% | 2026-Q2 |
| Gotham Asset Management, LLC added | 1,350,030 | $11M | 0.8% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 1,263,315 | $10M | 0.7% | 2026-Q2 |
| Advisors Asset Management, Inc. added | 1,201,350 | $10M | 0.7% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP trimmed | 1,136,738 | $9M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO added | 1,123,827 | $9M | 0.6% | 2026-Q2 |
| Quantinno Capital Management LP added | 1,010,203 | $8M | 0.6% | 2026-Q2 |
| ELEMENT CAPITAL MANAGEMENT LLC new | 900,000 | $7M | 0.5% | 2026-Q2 |
| MARSHALL WACE, LLP trimmed | 898,018 | $7M | 0.5% | 2026-Q2 |
| Sound Income Strategies, LLC added | 784,388 | $7M | 0.5% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 772,710 | $6M | 0.4% | 2026-Q2 |
| ALPS ADVISORS INC added | 589,428 | $5M | 0.3% | 2026-Q2 |
| Quinn Opportunity Partners LLC trimmed | 586,053 | $5M | 0.3% | 2026-Q2 |
| Creative Planning trimmed | 575,506 | $5M | 0.3% | 2026-Q2 |
| Nuveen, LLC added | 573,757 | $5M | 0.3% | 2026-Q2 |
| Soviero Asset Management, LP added | 570,000 | $5M | 0.3% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 542,220 | $4M | 0.3% | 2026-Q2 |
| Converium Capital Inc. new | 500,000 | $4M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed | 481,357 | $4M | 0.3% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC added | 466,456 | $4M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 447,433 | $4M | 0.3% | 2026-Q2 |
| Baird Financial Group, Inc. added | 435,107 | $4M | 0.3% | 2026-Q2 |
| FIRST TRUST ADVISORS LP added | 425,829 | $4M | 0.2% | 2026-Q2 |
| Legal & General Group Plc added | 414,356 | $3M | 0.2% | 2026-Q2 |
| Caitong International Asset Management Co., Ltd added | 366,309 | $3M | 0.2% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 364,554 | $3M | 0.2% | 2026-Q2 |
| First Eagle Investment Management, LLC new | 353,023 | $3M | 0.2% | 2026-Q2 |
| ExodusPoint Capital Management, LP added | 346,513 | $3M | 0.2% | 2026-Q2 |
| AMERICAN CENTURY COMPANIES INC added | 340,861 | $3M | 0.2% | 2026-Q2 |
| Walleye Trading LLC added | 338,254 | $3M | 0.2% | 2026-Q2 |
| Swiss National Bank added | 324,700 | $3M | 0.2% | 2026-Q2 |
| Venture Visionary Partners LLC added | 317,717 | $3M | 0.2% | 2026-Q2 |
| WINTON GROUP Ltd added | 291,578 | $2M | 0.2% | 2026-Q2 |
| GROUP ONE TRADING LLC trimmed | 266,953 | $2M | 0.2% | 2026-Q2 |
| BARCLAYS PLC added | 259,695 | $2M | 0.2% | 2026-Q2 |
| SIMPLEX TRADING, LLC added | 256,869 | $2M | 0.1% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ added | 253,107 | $2M | 0.1% | 2026-Q2 |
| XTX Topco Ltd added | 250,226 | $2M | 0.1% | 2026-Q2 |
| Summit Financial, LLC added | 244,705 | $2M | 0.1% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 227,431 | $2M | 0.1% | 2026-Q2 |
| CenterBook Partners LP new | 212,771 | $2M | 0.1% | 2026-Q2 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 210,025 | $2M | 0.1% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 207,621 | $2M | 0.1% | 2026-Q2 |
| GUGGENHEIM CAPITAL LLC added | 200,412 | $2M | 0.1% | 2026-Q2 |
| Sculptor Capital LP new | 200,000 | $2M | 0.1% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 193,463 | $2M | 0.1% | 2026-Q2 |
| RAYMOND JAMES FINANCIAL INC trimmed | 192,439 | $2M | 0.1% | 2026-Q2 |
| DEUTSCHE BANK AG\ added | 189,018 | $2M | 0.1% | 2026-Q2 |
| RENAISSANCE TECHNOLOGIES LLC trimmed | 185,782 | $2M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 185,549 | $2M | 0.1% | 2026-Q2 |
| Leonteq Securities AG trimmed | 182,872 | $2M | 0.1% | 2026-Q2 |
| Brevan Howard Capital Management LP trimmed | 174,961 | $1M | 0.1% | 2026-Q2 |
| BANK OF MONTREAL /CAN/ added | 169,897 | $1M | 0.1% | 2026-Q2 |
| SummitTX Capital, L.P. trimmed | 167,939 | $1M | 0.1% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC added | 167,924 | $1M | 0.1% | 2026-Q2 |
| CITIGROUP INC trimmed | 163,776 | $1M | 0.1% | 2026-Q2 |
| Quantbot Technologies LP added | 160,131 | $1M | 0.1% | 2026-Q2 |
| Summit Trail Advisors, LLC trimmed | 145,301 | $1M | 0.1% | 2026-Q2 |
| LPL Financial LLC trimmed | 145,191 | $1M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 143,078 | $1M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd | 138,853 | $1M | 0.1% | 2026-Q2 |
| Schonfeld Strategic Advisors LLC trimmed | 136,558 | $1M | 0.1% | 2026-Q2 |
| FMR LLC trimmed | 133,480 | $1M | 0.1% | 2026-Q2 |
| Mirae Asset Global Investments Co., Ltd. added | 132,116 | $1M | 0.1% | 2026-Q2 |
| BANK OF NOVA SCOTIA trimmed | 131,213 | $1M | 0.1% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 128,307 | $1M | 0.1% | 2026-Q2 |
| Atom Investors LP trimmed | 113,922 | $944K | 0.1% | 2026-Q2 |
| Corient Private Wealth LP added | 110,876 | $919K | 0.1% | 2026-Q2 |
| EXCHANGE TRADED CONCEPTS, LLC added | 110,799 | $919K | 0.1% | 2026-Q2 |
| A&I FINANCIAL SERVICES, LLC added | 108,882 | $903K | 0.1% | 2026-Q2 |
| HORIZON KINETICS ASSET MANAGEMENT LLC trimmed | 108,803 | $902K | 0.1% | 2026-Q2 |
| Illinois Municipal Retirement Fund added | 97,688 | $810K | 0.1% | 2026-Q2 |
| MetLife Investment Management, LLC added | 95,098 | $788K | 0.1% | 2026-Q2 |
| Empowered Funds, LLC added | 90,499 | $750K | 0.1% | 2026-Q2 |
| Krane Funds Advisors LLC added | 87,409 | $725K | 0.1% | 2026-Q2 |
| TD Waterhouse Canada Inc. added | 82,939 | $741K | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.