Murray Stahl's WEN Position Overview
Murray Stahl (via Horizon Kinetics Asset Management LLC) currently holds 359,896 shares of The Wendy's Company (WEN) worth $3 M, representing 0.04% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 51 quarters.
Based on 13F filings since 2013, Murray Stahl has maintained a long-term strategic position in WEN, representing a significant commitment to this investment thesis. Largest addition occurred in Q1 2014, adding 4.78 M shares. Largest reduction occurred in Q3 2015, reducing 11.37 M shares.
Analysis based on 13F filings available since 2013 Q2
Murray Stahl's The Wendy's Company (WEN) Holding Value Over Time
Track share changes against reported price movement
Quarterly The Wendy's Company (WEN) Trades by Murray Stahl
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -106,525 | Reduce 22.84% | 359,896 | $8.33 |
| Q3 2025 | -232,921 | Reduce 33.31% | 466,421 | $9.16 |
| Q2 2025 | -62,832 | Reduce 8.24% | 699,342 | $11.42 |
| Q1 2025 | -20,447 | Reduce 2.61% | 762,174 | $14.63 |
| Q4 2024 | -64,895 | Reduce 7.66% | 782,621 | $16.30 |
| Q3 2024 | -154,316 | Reduce 15.40% | 847,516 | $17.52 |
| Q2 2024 | -63,570 | Reduce 5.97% | 1 M | $16.96 |
| Q1 2024 | -65,605 | Reduce 5.80% | 1.07 M | $18.84 |
| Q4 2023 | -37,183 | Reduce 3.18% | 1.13 M | $19.48 |
| Q3 2023 | -30,715 | Reduce 2.56% | 1.17 M | $20.41 |
| Q2 2023 | -17,246 | Reduce 1.42% | 1.2 M | $21.75 |
| Q1 2023 | -29,746 | Reduce 2.39% | 1.22 M | $21.78 |
| Q4 2022 | -36,948 | Reduce 2.88% | 1.25 M | $22.63 |
| Q3 2022 | -43,971 | Reduce 3.31% | 1.28 M | $18.69 |
| Q2 2022 | -143,753 | Reduce 9.78% | 1.33 M | $18.88 |
| Q1 2022 | -93,757 | Reduce 5.99% | 1.47 M | $21.97 |
| Q4 2021 | -169,243 | Reduce 9.76% | 1.56 M | $23.85 |
| Q3 2021 | -51,030 | Reduce 2.86% | 1.73 M | $21.68 |
| Q2 2021 | -176,241 | Reduce 8.99% | 1.78 M | $23.42 |
| Q1 2021 | -222,310 | Reduce 10.18% | 1.96 M | $20.26 |
| Q4 2020 | -194,103 | Reduce 8.17% | 2.18 M | $21.92 |
| Q3 2020 | -191,673 | Reduce 7.46% | 2.38 M | $22.30 |
| Q2 2020 | -121,018 | Reduce 4.50% | 2.57 M | $21.78 |
| Q1 2020 | +239,510 | Add 9.77% | 2.69 M | $14.88 |
| Q4 2019 | -116,146 | Reduce 4.53% | 2.45 M | $22.21 |
| Q3 2019 | -80,487 | Reduce 3.04% | 2.57 M | $19.98 |
| Q2 2019 | -521,097 | Reduce 16.45% | 2.65 M | $19.58 |
| Q1 2019 | -267,024 | Reduce 7.77% | 3.17 M | $17.89 |
| Q4 2018 | -438,303 | Reduce 11.32% | 3.44 M | $15.61 |
| Q3 2018 | -998,007 | Reduce 20.49% | 3.87 M | $17.14 |
| Q2 2018 | -800,582 | Reduce 14.11% | 4.87 M | $17.18 |
| Q1 2018 | -676,838 | Reduce 10.66% | 5.67 M | $17.55 |
| Q4 2017 | -744,924 | Reduce 10.50% | 6.35 M | $16.42 |
| Q3 2017 | -271,629 | Reduce 3.69% | 7.09 M | $15.53 |
| Q2 2017 | -805,192 | Reduce 9.85% | 7.37 M | $15.51 |
| Q1 2017 | -1.26 M | Reduce 13.34% | 8.17 M | $13.61 |
| Q4 2016 | -2.86 M | Reduce 23.26% | 9.43 M | $13.52 |
| Q3 2016 | -666,537 | Reduce 5.15% | 12.29 M | $10.80 |
| Q2 2016 | -573,237 | Reduce 4.24% | 12.95 M | $9.62 |
| Q1 2016 | -1.9 M | Reduce 12.32% | 13.53 M | $10.89 |
| Q4 2015 | -1.34 M | Reduce 8.01% | 15.43 M | $10.77 |
| Q3 2015 | -11.37 M | Reduce 40.40% | 16.77 M | $8.65 |
| Q2 2015 | -467,852 | Reduce 1.64% | 28.13 M | $11.28 |
| Q1 2015 | -1.84 M | Reduce 6.04% | 28.6 M | $10.90 |
| Q4 2014 | -974,081 | Reduce 3.10% | 30.44 M | $9.03 |
| Q3 2014 | -448,692 | Reduce 1.41% | 31.41 M | $8.26 |
| Q2 2014 | +672,369 | Add 2.16% | 31.86 M | $8.53 |
| Q1 2014 | +4.78 M | Add 18.11% | 31.19 M | $9.12 |
| Q4 2013 | -1.37 M | Reduce 4.92% | 26.41 M | $8.72 |
| Q3 2013 | -1.36 M | Reduce 4.68% | 27.77 M | $8.48 |
| Q2 2013 | +29.14 M | Add 0.00% | 29.14 M | $5.83 |
Murray Stahl's The Wendy's Company Investment FAQs
Murray Stahl first purchased The Wendy's Company (WEN) in Q2 2013, acquiring 29,136,922 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl has held The Wendy's Company (WEN) for 51 quarters since Q2 2013.
Murray Stahl's largest addition to The Wendy's Company (WEN) was in Q2 2013, adding 29,136,922 shares worth $169.87 M.
According to the latest 13F filing for Q4 2025, Murray Stahl's firm, Horizon Kinetics Asset Management LLC, owns 359,896 shares of The Wendy's Company (WEN), valued at approximately $3 M.
As of the Q4 2025 filing, The Wendy's Company (WEN) represents approximately 0.04% of Murray Stahl's publicly disclosed stock portfolio, making it one of their key holdings.
Murray Stahl's peak holding in The Wendy's Company (WEN) was 31,863,115 shares, as reported at the end of Q2 2014.