Heartland Advisors’s Potbelly PBPB Stock Holding History
Bought
Maintained
Sold
| Quarter | Market Value | Status | Shares |
Change in Stake | Trade Value | Portfolio Weight | Portfolio Position | |
|---|---|---|---|---|---|---|---|---|
|
2025
Q4 | – | Sell |
-400,000
| Closed | -$6.82M | – | 265 |
|
|
2025
Q3 | $6.82M | Sell |
400,000
-365,700
| -48% | -$4.96M | 0.36% | 112 |
|
|
2025
Q2 | $9.38M | Sell |
765,700
-1,000
| -0.1% | -$9.83K | 0.52% | 76 |
|
|
2025
Q1 | $7.29M | Sell |
766,700
-157,250
| -17% | -$1.74M | 0.42% | 102 |
|
|
2024
Q4 | $8.7M | Sell |
923,950
-4,650
| -0.5% | -$42.2K | 0.47% | 90 |
|
|
2024
Q3 | $7.74M | Buy |
928,600
+130,750
| +16% | +$998K | 0.41% | 103 |
|
|
2024
Q2 | $6.41M | Buy |
797,850
+92,800
| +13% | +$859K | 0.36% | 107 |
|
|
2024
Q1 | $8.54M | Sell |
705,050
-255,850
| -27% | -$3.2M | 0.45% | 91 |
|
|
2023
Q4 | $10M | Sell |
960,900
-1,000
| -0.1% | -$9.08K | 0.52% | 74 |
|
|
2023
Q3 | $7.5M | Hold |
961,900
| – | – | 0.42% | 106 |
|
|
2023
Q2 | $8.45M | Buy |
961,900
+77,100
| +9% | +$677K | 0.48% | 96 |
|
|
2023
Q1 | $7.37M | Buy |
884,800
+84,800
| +11% | +$638K | 0.46% | 103 |
|
|
2022
Q4 | $4.46M | Buy |
800,000
+200,000
| +33% | +$1.05M | 0.28% | 132 |
|
|
2022
Q3 | $2.72M | Buy |
600,000
+51,237
| +9% | +$275K | 0.2% | 148 |
|
|
2022
Q2 | $3.1M | Buy |
548,763
+3,507
| +0.6% | +$20.5K | 0.22% | 151 |
|
|
2022
Q1 | $3.65M | Buy |
545,256
+105,256
| +24% | +$611K | 0.23% | 150 |
|
|
2021
Q4 | $2.46M | Buy |
440,000
+90,000
| +26% | +$525K | 0.14% | 178 |
|
|
2021
Q3 | $2.37M | Hold |
350,000
| – | – | 0.14% | 188 |
|
|
2021
Q2 | $2.77M | Buy |
350,000
+100,000
| +40% | +$701K | 0.16% | 190 |
|
|
2021
Q1 | $1.48M | Buy |
+250,000
| New | +$1.34M | 0.09% | 210 |
|
Other funds holding PBPB
Heartland Advisors's PBPB Position: Q4 2025 in Review
Heartland Advisors sold out of Potbelly (PBPB) in Q4 2025, closing a stake of 400,000 shares — an estimated $6.82M sold.
Heartland Advisors first reported a position in PBPB in Q1 2021 and held it in 19 quarters. The position peaked at $10M in Q4 2023. 1 fund tracked by Wall St. Rank holds PBPB as of Q4 2025.
- Heartland Advisors reported no remaining Potbelly position as of Q4 2025 after selling out during the quarter.
- Heartland Advisors sold 400,000 Potbelly shares in Q4 2025, an estimated $6.82M.
- Heartland Advisors first reported a position in Potbelly in Q1 2021 and held it in 19 quarters.
- Heartland Advisors's Potbelly position peaked at $10M in Q4 2023.
- 1 fund tracked by Wall St. Rank held Potbelly as of Q4 2025.
Based on Heartland Advisors's 13F filing for Q4 2025, filed 11 Feb 2026.