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PBPB

Potbelly
PBPB

Delisted

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

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74 hedge funds and large institutions have $58.5M invested in Potbelly in 2019 Q3 according to their latest regulatory filings, with 11 funds opening new positions, 20 increasing their positions, 28 reducing their positions, and 18 closing their positions.

New
Increased
Maintained
Reduced
Closed

1,077% more call options, than puts

Call options by funds: $1.35M | Put options by funds: $115K

4.11% less ownership

Funds ownership: 60.48% → 56.38% (-4.1%)

10% less funds holding

Funds holding: 82 → 74 (-8)

21% less capital invested

Capital invested by funds: $73.7M → $58.5M (-$15.2M)

29% less repeat investments, than reductions

Existing positions increased: 20 | Existing positions reduced: 28

39% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 18

Holders
74
Holders Change
-8
Holders Change %
-9.76%
% of All Funds
1.62%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
11
Increased
20
Reduced
28
Closed
18
Calls
$1.35M
Puts
$115K
Net Calls
+$1.24M
Net Calls Change
+$1.25M

Top Buyers

Rank Fund Capital Flow
1
Fuller & Thaler Asset Management
Fuller & Thaler Asset Management
California
+$1.62M
2
KCM
Kennedy Capital Management
Missouri
+$1.28M
3
FM
Fondren Management
Texas
+$1.1M
4
PAPAIJV
Paragon Associates & Paragon Associates II Joint Venture
Texas
+$689K
5
Jacobs Levy Equity Management
Jacobs Levy Equity Management
New Jersey
+$224K

Top Sellers

Rank Fund Capital Flow
1
3CP
3G Capital Partners
New York
-$4.45M
2
Vanguard Group
Vanguard Group
Pennsylvania
-$1.05M
3
GCP
GSA Capital Partners
United Kingdom
-$783K
4
CIM
Confluence Investment Management
Missouri
-$509K
5
MSL
Mackay Shields LLC
New York
-$466K
Name Holding Trade Value Shares
Change 		Change in
Stake
VOYA Investment Management
51
VOYA Investment Management
Georgia
$46K – – –
Bank of Montreal
52
Bank of Montreal
Ontario, Canada
$38K +$1.38K +306 +4%
Legal & General Group
53
Legal & General Group
United Kingdom
$27K +$11.7K +2,606 +73%
ES
54
Equitec Specialists
Illinois
$26K -$58.2K -12,943 -69%
Deutsche Bank
55
Deutsche Bank
Germany
$24K -$47.6K -10,574 -65%
SIC
56
Salem Investment Counselors
North Carolina
$23K – – –
TRCT
57
Tower Research Capital (TRC)
New York
$23K +$24.3K +5,406 New
Ohio Public Employees Retirement System (OPERS)
58
Ohio Public Employees Retirement System (OPERS)
Ohio
$21K +$21.6K +4,800 New
Victory Capital Management
59
Victory Capital Management
Texas
$18K +$18.2K +4,053 New
BNP Paribas Financial Markets
60
BNP Paribas Financial Markets
France
$15.7K -$328 -73 -2%
Citigroup
61
Citigroup
New York
$15K -$9.25K -2,056 -38%
LTFS
62
Ladenburg Thalmann Financial Services
Florida
$15K +$13.5K +3,000 +500%
ASN
63
Advisory Services Network
Georgia
$12K – – –
QT
64
Quantamental Technologies
New York
$10K +$450 +100 +4%
MAM
65
Meeder Asset Management
Ohio
$7K -$2.21K -491 -24%
AIP
66
Ameritas Investment Partners
Nebraska
$7K – – –
NSIM
67
North Star Investment Management
Illinois
$5K +$4.95K +1,100 New
PAM
68
Panagora Asset Management
Massachusetts
$4K – – –
VFA
69
Valeo Financial Advisors
Indiana
$3K – – –
US Bancorp
70
US Bancorp
Minnesota
$3K +$1.78K +395 +230%
IA
71
IFP Advisors
Florida
$3K +$3.6K +800 New
AG
72
Advisor Group
Arizona
$1K – – –
3CP
73
3G Capital Partners
New York
– -$4.45M -875,130 Closed
GCP
74
GSA Capital Partners
United Kingdom
– -$783K -153,808 Closed
MSL
75
Mackay Shields LLC
New York
– -$466K -91,652 Closed
1 2
3
4

PBPB Hedge Fund Activity: Q3 2019 in Review

74 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q3 2019, worth a combined $58.5M — down 21% from $73.7M a quarter earlier.

Sellers outnumbered buyers: 18 funds closed out of PBPB and 11 opened new positions — a net loss of 7 holders — while 28 trimmed existing stakes and 20 added.

The largest buyer was Fuller & Thaler Asset Management, adding an estimated $1.62M. The largest seller was 3G Capital Partners, exiting entirely with an estimated $4.45M sold.

  • 74 institutional investors held Potbelly (PBPB) as of Q3 2019, down from 82 in Q2 2019.
  • Funds reported $58.5M of Potbelly stock for Q3 2019, down 21% quarter-over-quarter.
  • 11 funds opened new Potbelly positions in Q3 2019 and 18 closed out, a net change of -7 holders.
  • The largest Potbelly buyer in Q3 2019 was Fuller & Thaler Asset Management, an estimated $1.62M added.
  • The largest Potbelly seller in Q3 2019 was 3G Capital Partners, an estimated $4.45M sold.

Based on aggregated 13F filings for Q3 2019.