Soviero Asset Management’s Potbelly PBPB Stock Holding History

Soviero Asset Management’s Portfolio PBPB Stock Details PBPB Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q3	–	Sell	-240,000	Closed	-$2.94M	–	71
2025 Q2	$2.94M	Sell	240,000 -143,000	-37%	-$1.41M	1.78%	29
2025 Q1	$3.64M	Sell	383,000 -93,000	-20%	-$1.03M	3.26%	7
2024 Q4	$4.48M	Sell	476,000 -54,000	-10%	-$490K	2.81%	10
2024 Q3	$4.42M	Sell	530,000 -202,000	-28%	-$1.54M	4.02%	9
2024 Q2	$5.88M	Sell	732,000 -574,700	-44%	-$5.32M	3.57%	11
2024 Q1	$15.8M	Sell	1,306,700 -95,610	-7%	-$1.2M	9.18%	1
2023 Q4	$14.6M	Sell	1,402,310 -117,690	-8%	-$1.07M	7.15%	2
2023 Q3	$11.9M	Sell	1,520,000 -43,830	-3%	-$373K	7.72%	3
2023 Q2	$13.7M	Buy	1,563,830 +131,800	+9%	+$1.16M	6.82%	3
2023 Q1	$11.9M	Buy	1,432,030 +12,030	+0.8%	+$90.5K	6.05%	3
2022 Q4	$7.91M	Buy	1,420,000 +70,000	+5%	+$367K	4.69%	5
2022 Q3	$7.63M	Hold	1,350,000	–	–	2.83%	19
2022 Q2	$7.63M	Buy	1,350,000 +65,876	+5%	+$385K	2.83%	19
2022 Q1	$8.6M	Buy	1,284,124 +4,124	+0.3%	+$23.9K	2.11%	20
2021 Q4	$7.14M	Buy	1,280,000 +30,000	+2%	+$175K	1.65%	20
2021 Q3	$8.47M	Sell	1,250,000 -150,000	-11%	-$1.04M	1.61%	23
2021 Q2	$11.1M	Buy	1,400,000 +268,431	+24%	+$1.88M	0.98%	32
2021 Q1	$6.69M	Buy	1,131,569 +361,569	+47%	+$1.94M	0.53%	38
2020 Q4	$3.39M	Buy	+770,000	New	+$3.26M	0.78%	33

Other funds holding PBPB

NIMC

Nierenberg Investment Management Company Camas, Washington $201M AUM 36.3% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

GCL

Glazer Capital LLC New York $4.71B AUM 81.93% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

WIC

Water Island Capital New York $896M AUM 107.59% 1-Year Est. Return

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Balyasny Asset Management Chicago, Illinois $77.1B AUM 42.89% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

Versor Investments New York $40.8M AUM 93.59% 1-Year Est. Return

FTCM

First Trust Capital Management Chicago, Illinois $1.9B AUM 58.39% 1-Year Est. Return

Soviero Asset Management's PBPB Position: Q3 2025 in Review

Soviero Asset Management sold out of Potbelly (PBPB) in Q3 2025, closing a stake of 240,000 shares — an estimated $2.94M sold.

Soviero Asset Management first reported a position in PBPB in Q4 2020 and held it in 19 quarters. The position peaked at $15.8M in Q1 2024. 132 funds tracked by Wall St. Rank hold PBPB as of Q3 2025.

Soviero Asset Management reported no remaining Potbelly position as of Q3 2025 after selling out during the quarter.
Soviero Asset Management sold 240,000 Potbelly shares in Q3 2025, an estimated $2.94M.
Soviero Asset Management first reported a position in Potbelly in Q4 2020 and held it in 19 quarters.
Soviero Asset Management's Potbelly position peaked at $15.8M in Q1 2024.
132 funds tracked by Wall St. Rank held Potbelly as of Q3 2025.

Based on Soviero Asset Management's 13F filing for Q3 2025, filed 14 Nov 2025.