Potbelly
PBPB
PBPB was delisted on the 22nd of October, 2025.
59 hedge funds and large institutions have $85.2M invested in Potbelly in 2021 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 21 increasing their positions, 14 reducing their positions, and 10 closing their positions.
50% more repeat investments, than reductions
Existing positions increased: 21 | Existing positions reduced: 14
1.01% more ownership
Funds ownership: 52.11% → 53.12% (+1%)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
8% less funds holding
Funds holding: 64 → 59 (-5)
15% less capital invested
Capital invested by funds: $99.9M → $85.2M (-$14.7M)
50% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 10
73% less call options, than puts
Call options by funds: $3K | Put options by funds: $11K
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NIMC
Nierenberg Investment Management Company
Camas,
Washington
|
+$3.47M |
| 2 |
PAIM
Punch & Associates Investment Management
Edina,
Minnesota
|
+$2.09M |
| 3 |
ACM
Archon Capital Management
Seattle,
Washington
|
+$1.02M |
| 4 |
Jacobs Levy Equity Management
Florham Park,
New Jersey
|
+$544K |
| 5 |
HA
Heartland Advisors
Milwaukee,
Wisconsin
|
+$525K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fidelity Investments
Boston,
Massachusetts
|
-$3.59M |
| 2 |
Dimensional Fund Advisors
Austin,
Texas
|
-$793K |
| 3 |
Renaissance Technologies
New York
|
-$386K |
| 4 |
Millennium Management
New York
|
-$275K |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$215K |
PBPB Hedge Fund Activity: Q4 2021 in Review
59 of the 6,498 institutional investors tracked by Wall St. Rank reported a position in Potbelly (PBPB) for Q4 2021, worth a combined $85.2M — down 15% from $99.9M a quarter earlier.
Sellers outnumbered buyers: 10 funds closed out of PBPB and 5 opened new positions — a net loss of 5 holders — while 14 trimmed existing stakes and 21 added.
The largest buyer was Nierenberg Investment Management Company, adding an estimated $3.47M. The largest seller was Fidelity Investments, cutting an estimated $3.59M.
- 59 institutional investors held Potbelly (PBPB) as of Q4 2021, down from 64 in Q3 2021.
- Funds reported $85.2M of Potbelly stock for Q4 2021, down 15% quarter-over-quarter.
- 5 funds opened new Potbelly positions in Q4 2021 and 10 closed out, a net change of -5 holders.
- The largest Potbelly buyer in Q4 2021 was Nierenberg Investment Management Company, an estimated $3.47M added.
- The largest Potbelly seller in Q4 2021 was Fidelity Investments, an estimated $3.59M sold.
Based on aggregated 13F filings for Q4 2021.