Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
53 hedge funds and large institutions have $68.2M invested in Potbelly in 2022 Q3 according to their latest regulatory filings, with 9 funds opening new positions, 15 increasing their positions, 10 reducing their positions, and 8 closing their positions.
50% more repeat investments, than reductions
Existing positions increased: 15 | Existing positions reduced: 10
13% more first-time investments, than exits
New positions opened: 9 | Existing positions closed: 8
2% more funds holding
Funds holding: 52 → 53 (+1)
0% more funds holding in top 10
Funds holding in top 10: 2 → 2 (0)
2.81% less ownership
Funds ownership: 54.08% → 51.27% (-2.8%)
23% less capital invested
Capital invested by funds: $88.2M → $68.2M (-$20M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NIMC
Nierenberg Investment Management Company
Camas,
Washington
|
+$896K |
| 2 |
Millennium Management
New York
|
+$761K |
| 3 |
BFM
Boothbay Fund Management
New York
|
+$669K |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$353K |
| 5 |
First Eagle Investment Management
New York
|
+$340K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AA
Ancora Advisors
Cleveland,
Ohio
|
-$4.08M |
| 2 |
Hotchkis & Wiley Capital Management
Los Angeles,
California
|
-$2.16M |
| 3 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
-$744K |
| 4 |
Dimensional Fund Advisors
Austin,
Texas
|
-$508K |
| 5 |
D.E. Shaw & Co
New York
|
-$405K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
51
Hudson Bay Capital Management
Stamford,
Connecticut
| – | -$744K | -131,757 | Closed |
|
|
52
D.E. Shaw & Co
New York
| – | -$405K | -71,740 | Closed |
|
53
Ameriprise
Minneapolis,
Minnesota
| – | -$272K | -48,200 | Closed |
|
54
SEI Investments
Oaks,
Pennsylvania
| – | -$104K | -18,400 | Closed |
|
55
Group One Trading
Chicago,
Illinois
| – | -$43K | -7,622 | Closed |
|
56
JP Morgan Chase
New York
| – | -$1.6K | -297 | -92% |
|
57
CAPTRUST Financial Advisors
Raleigh,
North Carolina
| – | -$1K | -150 | Closed |
|
58
BNP Paribas Financial Markets
Paris,
France
| – | -$819 | -145 | Closed |
|
59
Royal Bank of Canada
Toronto,
Ontario, Canada
| – | +$134 | +25 | +50% |
|
PBPB Hedge Fund Activity: Q3 2022 in Review
53 of the 5,805 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q3 2022, worth a combined $68.2M — down 23% from $88.2M a quarter earlier.
Buyers outnumbered sellers: 9 funds opened new PBPB positions and 8 closed out — a net gain of 1 holder — while 15 added to existing stakes and 10 trimmed.
The largest buyer was Nierenberg Investment Management Company, adding an estimated $896K. The largest seller was Ancora Advisors, cutting an estimated $4.08M.
- 53 institutional investors held Potbelly (PBPB) as of Q3 2022, up from 52 in Q2 2022.
- Funds reported $68.2M of Potbelly stock for Q3 2022, down 23% quarter-over-quarter.
- 9 funds opened new Potbelly positions in Q3 2022 and 8 closed out, a net change of +1 holder.
- The largest Potbelly buyer in Q3 2022 was Nierenberg Investment Management Company, an estimated $896K added.
- The largest Potbelly seller in Q3 2022 was Ancora Advisors, an estimated $4.08M sold.
Based on aggregated 13F filings for Q3 2022.