UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                               Washington, D.C. 20549



                                    SCHEDULE 13G

                                    made on January 25, 2013.


                                    Under the Securities Exchange Act of 1934


                              Issuer-The Wendy's Company

                            Securities Class-common

                                         CUSIP Number-95058W100

                             Event  Requiring Filing -December 31, 2012

                              Filed pursuant to Rule 13d-1(b)

                             CUSIP  Number 95058W100

                              Reporter- Horizon Kinetics LLC
                              Tax ID#45-0642972

                               Place of Organization-Delaware

                                Number of Shares-sole voting power-23,467,811
                                Sole dispositive power-23,467,811
                                Amount beneficially owned-23,467,811


                                Percent of Class represented by above-6.00%

                                 Type of Reporting Person-HC

Name of Issuer-The Wendy's Company
Address of Issuer-One Dave Thomas Blvd., Dublin, Ohio 43017

Name of Person Filing-Horizon Kinetics LLC
Address -470 Park Avenue South, 4th Floor South, NY, NY, 10016
Citizenship-Delaware
 Securities Class-common stock

Filing re Section 240.13d-1(b) by investment
adviser under Section 240.13d-1(b)(1)(ii)(E).
Amount beneficially owned-23,467,811
Percent of class-6.00%
sole voting power-23,467,811
shared power to vote or direct the vote-0
sole power to dispose/direct the disposition-23,467,811
shared power to dispose/direct the disposition-0



Certification pursuant to Section 240.13d-1(b):
 By signing below I certify that, to the
best of my knowledge and belief, the securities
referred to above
 were not acquired and
are not held for the purpose of or with the effect of
 changing or influencing the control of
the issuer of the securities and were not acquired
and are not held in connection with or
as a participant in any transaction
having that purpose or effect.

After reasonable inquiry and to the best of
 my knowledge and belief, I certify that the
information set forth in this statement is
 true, complete and correct.

Date-January 25, 2013
Signature-Andrew M. Fishman
Title-Associate General Counsel