Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
55 hedge funds and large institutions have $80.9M invested in Potbelly in 2022 Q4 according to their latest regulatory filings, with 7 funds opening new positions, 16 increasing their positions, 15 reducing their positions, and 5 closing their positions.
344% more call options, than puts
Call options by funds: $40K | Put options by funds: $9K
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
40% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 5
19% more capital invested
Capital invested by funds: $68.2M → $80.9M (+$12.7M)
4% more funds holding
Funds holding: 53 → 55 (+2)
7% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 15
0.63% more ownership
Funds ownership: 51.27% → 51.9% (+0.63%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HA
Heartland Advisors
Milwaukee,
Wisconsin
|
+$1.05M |
| 2 |
First Eagle Investment Management
New York
|
+$670K |
| 3 |
SAM
Soviero Asset Management
New York
|
+$367K |
| 4 |
RA
Raffles Associates
New York
|
+$314K |
| 5 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$207K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BFM
Boothbay Fund Management
New York
|
-$564K |
| 2 |
Renaissance Technologies
New York
|
-$313K |
| 3 |
QFA
Quantum Financial Advisors
El Segundo,
California
|
-$286K |
| 4 |
AWS
AJ Wealth Strategies
New York
|
-$249K |
| 5 |
Millennium Management
New York
|
-$105K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
51
Wells Fargo
San Francisco,
California
| $897 | +$21 | +4 | +3% |
|
52
Bank of America
Charlotte,
North Carolina
| $167 | -$173 | -33 | -52% |
|
|
PA
53
Parallel Advisors
San Francisco,
California
| $22 | – | – | – |
|
|
BFM
54
Boothbay Fund Management
New York
| – | -$564K | -124,454 | Closed |
|
|
QFA
55
Quantum Financial Advisors
El Segundo,
California
| – | -$286K | -63,178 | Closed |
|
56
Bank of New York Mellon
New York
| – | -$75K | -16,560 | Closed |
|
|
SFCL
57
Strengthening Families & Communities LLC
Boston,
Massachusetts
| – | -$9K | -2,000 | Closed |
|
|
TCOV
58
Trust Company of Vermont
Brattleboro,
Vermont
| – | -$5K | -1,000 | Closed |
|
59
Royal Bank of Canada
Toronto,
Ontario, Canada
| – | -$131 | -25 | -33% |
|
PBPB Hedge Fund Activity: Q4 2022 in Review
55 of the 6,221 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q4 2022, worth a combined $80.9M — up 19% from $68.2M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new PBPB positions and 5 closed out — a net gain of 2 holders — while 16 added to existing stakes and 15 trimmed.
The largest buyer was Heartland Advisors, adding an estimated $1.05M. The largest seller was Boothbay Fund Management, exiting entirely with an estimated $564K sold.
- 55 institutional investors held Potbelly (PBPB) as of Q4 2022, up from 53 in Q3 2022.
- Funds reported $80.9M of Potbelly stock for Q4 2022, up 19% quarter-over-quarter.
- 7 funds opened new Potbelly positions in Q4 2022 and 5 closed out, a net change of +2 holders.
- The largest Potbelly buyer in Q4 2022 was Heartland Advisors, an estimated $1.05M added.
- The largest Potbelly seller in Q4 2022 was Boothbay Fund Management, an estimated $564K sold.
Based on aggregated 13F filings for Q4 2022.