Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
66 hedge funds and large institutions have $117M invested in Potbelly in 2021 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 16 increasing their positions, 22 reducing their positions, and 6 closing their positions.
133% more first-time investments, than exits
New positions opened: 14 | Existing positions closed: 6
37% more capital invested
Capital invested by funds: $85.4M → $117M (+$31.2M)
26% more call options, than puts
Call options by funds: $54K | Put options by funds: $43K
14% more funds holding
Funds holding: 58 → 66 (+8)
1.1% more ownership
Funds ownership: 51.9% → 53% (+1.1%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
27% less repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 22
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
Ancora Advisors
Cleveland,
Ohio
|
+$4.21M |
| 2 |
NIMC
Nierenberg Investment Management Company
Camas,
Washington
|
+$3.55M |
| 3 |
Fidelity Investments
Boston,
Massachusetts
|
+$3.3M |
| 4 |
SAM
Soviero Asset Management
New York
|
+$1.88M |
| 5 |
EI
EAM Investors
Solana Beach,
California
|
+$1.26M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
-$4.77M |
| 2 |
Russell Investments Group
London,
United Kingdom
|
-$2.53M |
| 3 |
AC
Armistice Capital
New York
|
-$2.41M |
| 4 |
ACM
Archon Capital Management
Seattle,
Washington
|
-$1.57M |
| 5 |
Dimensional Fund Advisors
Austin,
Texas
|
-$910K |
PBPB Hedge Fund Activity: Q2 2021 in Review
66 of the 5,745 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q2 2021, worth a combined $117M — up 37% from $85.4M a quarter earlier.
Buyers outnumbered sellers: 14 funds opened new PBPB positions and 6 closed out — a net gain of 8 holders — while 16 added to existing stakes and 22 trimmed.
The largest buyer was Ancora Advisors, adding an estimated $4.21M. The largest seller was Hudson Bay Capital Management, cutting an estimated $4.77M.
- 66 institutional investors held Potbelly (PBPB) as of Q2 2021, up from 58 in Q1 2021.
- Funds reported $117M of Potbelly stock for Q2 2021, up 37% quarter-over-quarter.
- 14 funds opened new Potbelly positions in Q2 2021 and 6 closed out, a net change of +8 holders.
- The largest Potbelly buyer in Q2 2021 was Ancora Advisors, an estimated $4.21M added.
- The largest Potbelly seller in Q2 2021 was Hudson Bay Capital Management, an estimated $4.77M sold.
Based on aggregated 13F filings for Q2 2021.