Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
118 hedge funds and large institutions have $254M invested in Potbelly in 2024 Q1 according to their latest regulatory filings, with 39 funds opening new positions, 31 increasing their positions, 36 reducing their positions, and 10 closing their positions.
290% more first-time investments, than exits
New positions opened: 39 | Existing positions closed: 10
263% more call options, than puts
Call options by funds: $1.96M | Put options by funds: $540K
31% more funds holding
Funds holding: 90 → 118 (+28)
29% more capital invested
Capital invested by funds: $197M → $254M (+$57.2M)
6.54% more ownership
Funds ownership: 64.34% → 70.89% (+6.5%)
14% less repeat investments, than reductions
Existing positions increased: 31 | Existing positions reduced: 36
33% less funds holding in top 10
Funds holding in top 10: 3 → 2 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Portolan Capital Management
Boston,
Massachusetts
|
+$14.3M |
| 2 |
RAM
Readystate Asset Management
Chicago,
Illinois
|
+$6.46M |
| 3 |
SAM
Silvercrest Asset Management
New York
|
+$6.02M |
| 4 |
CP
CenterBook Partners
Greenwich,
Connecticut
|
+$4.82M |
| 5 |
Russell Investments Group
London,
United Kingdom
|
+$2.61M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ACM
Archon Capital Management
Seattle,
Washington
|
-$10.4M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
-$4.27M |
| 3 |
HA
Heartland Advisors
Milwaukee,
Wisconsin
|
-$3.2M |
| 4 |
Cerity Partners
New York
|
-$2.91M |
| 5 |
SAM
Soviero Asset Management
New York
|
-$1.2M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
126
Corient Private Wealth
Miami,
Florida
| – | -$104K | -10,000 | Closed |
|
|
A
127
AJOVista
Boston,
Massachusetts
| – | -$34.5K | -3,311 | Closed |
|
128
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| – | +$50 | +4 | New |
|
PBPB Hedge Fund Activity: Q1 2024 in Review
118 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q1 2024, worth a combined $254M — up 29% from $197M a quarter earlier.
Buyers outnumbered sellers: 39 funds opened new PBPB positions and 10 closed out — a net gain of 29 holders — while 31 added to existing stakes and 36 trimmed.
The largest buyer was Portolan Capital Management, opening a new position worth an estimated $14.3M. The largest seller was Archon Capital Management, cutting an estimated $10.4M.
- 118 institutional investors held Potbelly (PBPB) as of Q1 2024, up from 90 in Q4 2023.
- Funds reported $254M of Potbelly stock for Q1 2024, up 29% quarter-over-quarter.
- 39 funds opened new Potbelly positions in Q1 2024 and 10 closed out, a net change of +29 holders.
- The largest Potbelly buyer in Q1 2024 was Portolan Capital Management, an estimated $14.3M added.
- The largest Potbelly seller in Q1 2024 was Archon Capital Management, an estimated $10.4M sold.
Based on aggregated 13F filings for Q1 2024.