Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
109 hedge funds and large institutions have $176M invested in Potbelly in 2024 Q3 according to their latest regulatory filings, with 15 funds opening new positions, 44 increasing their positions, 31 reducing their positions, and 16 closing their positions.
786% more call options, than puts
Call options by funds: $824K | Put options by funds: $93K
42% more repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 31
5% more capital invested
Capital invested by funds: $168M → $176M (+$8.08M)
0.45% more ownership
Funds ownership: 69.95% → 70.4% (+0.45%)
1% less funds holding
Funds holding: 110 → 109 (-1)
6% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 16
25% less funds holding in top 10
Funds holding in top 10: 4 → 3 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Cerity Partners
New York
|
+$2.13M |
| 2 |
Arrowstreet Capital
Boston,
Massachusetts
|
+$1.9M |
| 3 |
Russell Investments Group
London,
United Kingdom
|
+$1.45M |
| 4 |
N
Nuveen
Charlotte,
North Carolina
|
+$1.29M |
| 5 |
Millennium Management
New York
|
+$1.28M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WSL
Western Standard LLC
Los Angeles,
California
|
-$3.05M |
| 2 |
RAM
Readystate Asset Management
Chicago,
Illinois
|
-$2.27M |
| 3 |
SAM
Soviero Asset Management
New York
|
-$1.54M |
| 4 |
ACM
Archon Capital Management
Seattle,
Washington
|
-$1.47M |
| 5 |
CP
CenterBook Partners
Greenwich,
Connecticut
|
-$956K |
PBPB Hedge Fund Activity: Q3 2024 in Review
109 of the 6,964 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q3 2024, worth a combined $176M — up 4.8% from $168M a quarter earlier.
Sellers outnumbered buyers: 16 funds closed out of PBPB and 15 opened new positions — a net loss of 1 holder — while 31 trimmed existing stakes and 44 added.
The largest buyer was Cerity Partners, opening a new position worth an estimated $2.13M. The largest seller was Western Standard LLC, cutting an estimated $3.05M.
- 109 institutional investors held Potbelly (PBPB) as of Q3 2024, down from 110 in Q2 2024.
- Funds reported $176M of Potbelly stock for Q3 2024, up 4.8% quarter-over-quarter.
- 15 funds opened new Potbelly positions in Q3 2024 and 16 closed out, a net change of -1 holder.
- The largest Potbelly buyer in Q3 2024 was Cerity Partners, an estimated $2.13M added.
- The largest Potbelly seller in Q3 2024 was Western Standard LLC, an estimated $3.05M sold.
Based on aggregated 13F filings for Q3 2024.