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PBPB

Potbelly
PBPB

Delisted

PBPB was delisted on the 22nd of October, 2025.

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58 hedge funds and large institutions have $85.4M invested in Potbelly in 2021 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 11 increasing their positions, 18 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

100% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 6

65% more capital invested

Capital invested by funds: $51.6M → $85.4M (+$33.8M)

12% more funds holding

Funds holding: 52 → 58 (+6)

3.66% more ownership

Funds ownership: 48.24% → 51.9% (+3.7%)

38% less call options, than puts

Call options by funds: $359K | Put options by funds: $576K

39% less repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 18

Holders
58
Holders Change
+6
Holders Change %
+11.54%
% of All Funds
1.02%
Holding in Top 10
1
Holding in Top 10 Change
+1
Holding in Top 10 Change %
% of All Funds
0.02%
New
12
Increased
11
Reduced
18
Closed
6
Calls
$359K
Puts
$576K
Net Calls
-$217K
Net Calls Change
-$30K

Top Buyers

Rank Fund Capital Flow
1
Hudson Bay Capital Management
Hudson Bay Capital Management
Connecticut
+$5.45M
2
NIMC
Nierenberg Investment Management Company
Washington
+$4.75M
3
AC
Armistice Capital
New York
+$2.18M
4
SAM
Soviero Asset Management
New York
+$1.94M
5
HA
Heartland Advisors
Wisconsin
+$1.34M

Top Sellers

Rank Fund Capital Flow
1
AA
Ancora Advisors
Ohio
-$1.07M
2
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$889K
3
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$659K
4
AFG
American Financial Group
Ohio
-$536K
5
GAM
Gotham Asset Management
New York
-$430K
Name Holding Trade Value Shares
Change 		Change in
Stake
FA
26
Fortis Advisors
Pennsylvania
$414K +$375K +69,969 +6,996,900%
OCM
27
Orchard Capital Management
Illinois
$313K – – –
AWP
28
Abacus Wealth Partners
California
$296K – – –
Invesco
29
Invesco
Georgia
$250K -$121K -22,514 -35%
Northern Trust
30
Northern Trust
Illinois
$248K +$17.4K +3,245 +8%
Bank of America
31
Bank of America
North Carolina
$178K -$155K -28,958 -49%
State Street
32
State Street
Massachusetts
$178K – – –
Walleye Trading
33
Walleye Trading
New York
$175K +$158K +29,541 New
Commonwealth Equity Services
34
Commonwealth Equity Services
Massachusetts
$144K -$1.34K -250 -1%
Citadel Advisors
35
Citadel Advisors
Florida
$129K +$117K +21,871 New
GG
36
Gofen & Glossberg
Illinois
$118K – – –
Connor, Clark & Lunn Investment Management (CC&L)
37
Connor, Clark & Lunn Investment Management (CC&L)
British Columbia, Canada
$108K -$4.57K -853 -4%
Goldman Sachs
38
Goldman Sachs
New York
$106K +$95.9K +17,885 New
SI
39
Stephens Inc
Arkansas
$105K – – –
Bank of New York Mellon
40
Bank of New York Mellon
New York
$100K -$9.49K -1,770 -9%
CSS
41
Cubist Systematic Strategies
Connecticut
$65K +$59.2K +11,052 New
TRCT
42
Tower Research Capital (TRC)
New York
$35K +$24.5K +4,566 +339%
SIC
43
Salem Investment Counselors
North Carolina
$31K – – –
GSAM
44
Grant Street Asset Management
Pennsylvania
$12K – – –
Osaic Holdings
45
Osaic Holdings
Arizona
$11K -$16.1K -3,000 -64%
NSIM
46
North Star Investment Management
Illinois
$7K – – –
FCM
47
Firestone Capital Management
Florida
$5K – – –
PAM
48
Panagora Asset Management
Massachusetts
$5K – – –
UBS Group
49
UBS Group
Switzerland
$5K – – –
Royal Bank of Canada
50
Royal Bank of Canada
Ontario, Canada
$3K -$402 -75 -13%
1
2
3

PBPB Hedge Fund Activity: Q1 2021 in Review

58 of the 5,695 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q1 2021, worth a combined $85.4M — up 65% from $51.6M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new PBPB positions and 6 closed out — a net gain of 6 holders — while 11 added to existing stakes and 18 trimmed.

The largest buyer was Hudson Bay Capital Management, opening a new position worth an estimated $5.45M. The largest seller was Ancora Advisors, cutting an estimated $1.07M.

  • 58 institutional investors held Potbelly (PBPB) as of Q1 2021, up from 52 in Q4 2020.
  • Funds reported $85.4M of Potbelly stock for Q1 2021, up 65% quarter-over-quarter.
  • 12 funds opened new Potbelly positions in Q1 2021 and 6 closed out, a net change of +6 holders.
  • The largest Potbelly buyer in Q1 2021 was Hudson Bay Capital Management, an estimated $5.45M added.
  • The largest Potbelly seller in Q1 2021 was Ancora Advisors, an estimated $1.07M sold.

Based on aggregated 13F filings for Q1 2021.