Trian Fund Management L.P. acquired 30,468,434 shares of The Wendy's Company for approximately $252.58 million. The investment was disclosed in a regulatory filing on August 23, 2026.
The purchase gives Trian a 15.98% ownership stake in the restaurant operator. Wendy's now ranks as the fifth-largest position in the fund's portfolio.
This move by the activist investor follows a 12.5% decline in Wendy's U.S. restaurant traffic. Trian is expected to push for strategic changes to address performance issues and unlock shareholder value.