Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
125 hedge funds and large institutions have $287M invested in Potbelly in 2025 Q2 according to their latest regulatory filings, with 16 funds opening new positions, 42 increasing their positions, 43 reducing their positions, and 6 closing their positions.
2,903% more call options, than puts
Call options by funds: $2.16M | Put options by funds: $72K
167% more first-time investments, than exits
New positions opened: 16 | Existing positions closed: 6
31% more capital invested
Capital invested by funds: $219M → $287M (+$68.4M)
9% more funds holding
Funds holding: 115 → 125 (+10)
3.18% more ownership
Funds ownership: 74.54% → 77.72% (+3.2%)
2% less repeat investments, than reductions
Existing positions increased: 42 | Existing positions reduced: 43
20% less funds holding in top 10
Funds holding in top 10: 5 → 4 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PCM
Portolan Capital Management
Boston,
Massachusetts
|
+$3.84M |
| 2 |
WSL
Western Standard LLC
Los Angeles,
California
|
+$2.22M |
| 3 |
Marshall Wace
London,
United Kingdom
|
+$2.06M |
| 4 |
MCM
Monimus Capital Management
Woodbridge,
New Jersey
|
+$1.62M |
| 5 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$1.15M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SAM
Soviero Asset Management
New York
|
-$1.41M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$1.03M |
| 3 |
BlackRock
New York
|
-$894K |
| 4 |
Cerity Partners
New York
|
-$681K |
| 5 |
Millennium Management
New York
|
-$660K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
CCIA
126
Campbell & Co Investment Adviser
Baltimore,
Maryland
| – | -$359K | -37,766 | Closed |
|
|
LFAS
127
Level Four Advisory Services
Dallas,
Texas
| – | -$179K | -18,869 | Closed |
|
|
CF
128
Corebridge Financial
Houston,
Texas
| – | -$128K | -13,449 | Closed |
|
|
A
129
AlphaQuest
New York
| – | -$57.1K | -6,004 | Closed |
|
|
ACM
130
Aquatic Capital Management
Chicago,
Illinois
| – | -$36K | -3,786 | Closed |
|
131
Group One Trading
Chicago,
Illinois
| – | -$3.93K | -400 | Closed |
|
PBPB Hedge Fund Activity: Q2 2025 in Review
125 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q2 2025, worth a combined $287M — up 31% from $219M a quarter earlier.
Buyers outnumbered sellers: 16 funds opened new PBPB positions and 6 closed out — a net gain of 10 holders — while 42 added to existing stakes and 43 trimmed.
The largest buyer was Portolan Capital Management, adding an estimated $3.84M. The largest seller was Soviero Asset Management, cutting an estimated $1.41M.
- 125 institutional investors held Potbelly (PBPB) as of Q2 2025, up from 115 in Q1 2025.
- Funds reported $287M of Potbelly stock for Q2 2025, up 31% quarter-over-quarter.
- 16 funds opened new Potbelly positions in Q2 2025 and 6 closed out, a net change of +10 holders.
- The largest Potbelly buyer in Q2 2025 was Portolan Capital Management, an estimated $3.84M added.
- The largest Potbelly seller in Q2 2025 was Soviero Asset Management, an estimated $1.41M sold.
Based on aggregated 13F filings for Q2 2025.