Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
98 hedge funds and large institutions have $225M invested in Potbelly in 2017 Q3 according to their latest regulatory filings, with 15 funds opening new positions, 26 increasing their positions, 40 reducing their positions, and 32 closing their positions.
10% more capital invested
Capital invested by funds: $204M → $225M (+$21M)
1.29% more ownership
Funds ownership: 71.06% → 72.35% (+1.3%)
9% less call options, than puts
Call options by funds: $1.16M | Put options by funds: $1.27M
16% less funds holding
Funds holding: 116 → 98 (-18)
35% less repeat investments, than reductions
Existing positions increased: 26 | Existing positions reduced: 40
53% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 32
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$19.7M |
| 2 |
FTCM
First Trust Capital Management
Chicago,
Illinois
|
+$7.46M |
| 3 |
1C
1060 Capital
Denver,
Colorado
|
+$5.66M |
| 4 |
Dimensional Fund Advisors
Austin,
Texas
|
+$3.27M |
| 5 |
AIM
Alambic Investment Management
Belvedere,
California
|
+$2.18M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TCM
Tributary Capital Management
Omaha,
Nebraska
|
-$10.1M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
-$4.02M |
| 3 |
PAM
Panagora Asset Management
Boston,
Massachusetts
|
-$3.31M |
| 4 |
OCM
Olstein Capital Management
Purchase,
New York
|
-$2.8M |
| 5 |
Millennium Management
New York
|
-$2.4M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
126
New York State Teachers Retirement System (NYSTRS)
Albany,
New York
| – | -$23K | -2,000 | Closed |
|
127
Creative Planning
Overland Park,
Kansas
| – | -$20K | -1,715 | Closed |
|
|
AG
128
Advisor Group
Phoenix,
Arizona
| – | -$14K | -1,207 | Closed |
|
|
AIM
129
Acrospire Investment Management
Chicago,
Illinois
| – | -$6K | -565 | Closed |
|
|
FA
130
Fortis Advisors
Wayne,
Pennsylvania
| – | +$117 | +10 | New |
|
PBPB Hedge Fund Activity: Q3 2017 in Review
98 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q3 2017, worth a combined $225M — up 10% from $204M a quarter earlier.
Sellers outnumbered buyers: 32 funds closed out of PBPB and 15 opened new positions — a net loss of 17 holders — while 40 trimmed existing stakes and 26 added.
The largest buyer was Morgan Stanley, adding an estimated $19.7M. The largest seller was Tributary Capital Management, exiting entirely with an estimated $10.1M sold.
- 98 institutional investors held Potbelly (PBPB) as of Q3 2017, down from 116 in Q2 2017.
- Funds reported $225M of Potbelly stock for Q3 2017, up 10% quarter-over-quarter.
- 15 funds opened new Potbelly positions in Q3 2017 and 32 closed out, a net change of -17 holders.
- The largest Potbelly buyer in Q3 2017 was Morgan Stanley, an estimated $19.7M added.
- The largest Potbelly seller in Q3 2017 was Tributary Capital Management, an estimated $10.1M sold.
Based on aggregated 13F filings for Q3 2017.