Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
110 hedge funds and large institutions have $168M invested in Potbelly in 2024 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 43 increasing their positions, 32 reducing their positions, and 27 closing their positions.
13,471% more call options, than puts
Call options by funds: $1.9M | Put options by funds: $14K
100% more funds holding in top 10
Funds holding in top 10: 2 → 4 (+2)
34% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 32
0.93% less ownership
Funds ownership: 70.89% → 69.95% (-0.93%)
7% less funds holding
Funds holding: 118 → 110 (-8)
30% less first-time investments, than exits
New positions opened: 19 | Existing positions closed: 27
34% less capital invested
Capital invested by funds: $254M → $168M (-$86.5M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WSL
Western Standard LLC
Los Angeles,
California
|
+$5.73M |
| 2 |
AA
Ancora Advisors
Cleveland,
Ohio
|
+$2.95M |
| 3 |
ACM
Archon Capital Management
Seattle,
Washington
|
+$2.21M |
| 4 |
HCM
Hodges Capital Management
Dallas,
Texas
|
+$1.64M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
+$1.63M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SAM
Soviero Asset Management
New York
|
-$5.32M |
| 2 |
PCM
Portolan Capital Management
Boston,
Massachusetts
|
-$3.74M |
| 3 |
CP
CenterBook Partners
Greenwich,
Connecticut
|
-$2.47M |
| 4 |
MHP
Manatuck Hill Partners
Westport,
Connecticut
|
-$2.41M |
| 5 |
RAM
Readystate Asset Management
Chicago,
Illinois
|
-$2.16M |
PBPB Hedge Fund Activity: Q2 2024 in Review
110 of the 6,924 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q2 2024, worth a combined $168M — down 34% from $254M a quarter earlier.
Sellers outnumbered buyers: 27 funds closed out of PBPB and 19 opened new positions — a net loss of 8 holders — while 32 trimmed existing stakes and 43 added.
The largest buyer was Western Standard LLC, adding an estimated $5.73M. The largest seller was Soviero Asset Management, cutting an estimated $5.32M.
- 110 institutional investors held Potbelly (PBPB) as of Q2 2024, down from 118 in Q1 2024.
- Funds reported $168M of Potbelly stock for Q2 2024, down 34% quarter-over-quarter.
- 19 funds opened new Potbelly positions in Q2 2024 and 27 closed out, a net change of -8 holders.
- The largest Potbelly buyer in Q2 2024 was Western Standard LLC, an estimated $5.73M added.
- The largest Potbelly seller in Q2 2024 was Soviero Asset Management, an estimated $5.32M sold.
Based on aggregated 13F filings for Q2 2024.