WSL
PBPB

Western Standard LLC’s Potbelly PBPB Stock Holding History

Western Standard LLC’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
-927,593
Closed -$11.4M – 31
2025
Q2 		$11.4M Buy
927,593
+226,270
+32% +$2.22M 6.32% 6
2025
Q1 		$6.67M Buy
701,323
+371,350
+113% +$4.1M 3.92% 8
2024
Q4 		$3.11M Sell
329,973
-70,796
-18% -$643K 2.07% 17
2024
Q3 		$3.34M Sell
400,769
-400,000
-50% -$3.05M 3.14% 13
2024
Q2 		$6.43M Buy
800,769
+618,434
+339% +$5.73M 6.66% 5
2024
Q1 		$2.21M Buy
+182,335
New +$2.28M 1.06% 17

Other funds holding PBPB

NIMC
Nierenberg Investment Management Company Camas, Washington $201M AUM 36.3% 1-Year Est. Return
BlackRock
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
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
Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return
Balyasny Asset Management
Balyasny Asset Management Chicago, Illinois $77.1B AUM 42.89% 1-Year Est. Return
Renaissance Technologies
Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return
VI
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

Western Standard LLC's PBPB Position: Q3 2025 in Review

Western Standard LLC sold out of Potbelly (PBPB) in Q3 2025, closing a stake of 927,593 shares — an estimated $11.4M sold.

Western Standard LLC first reported a position in PBPB in Q1 2024 and held it in 6 quarters. The position peaked at $11.4M in Q2 2025. 132 funds tracked by Wall St. Rank hold PBPB as of Q3 2025.

  • Western Standard LLC reported no remaining Potbelly position as of Q3 2025 after selling out during the quarter.
  • Western Standard LLC sold 927,593 Potbelly shares in Q3 2025, an estimated $11.4M.
  • Western Standard LLC first reported a position in Potbelly in Q1 2024 and held it in 6 quarters.
  • Western Standard LLC's Potbelly position peaked at $11.4M in Q2 2025.
  • 132 funds tracked by Wall St. Rank held Potbelly as of Q3 2025.

Based on Western Standard LLC's 13F filing for Q3 2025, filed 12 Nov 2025.