Papa John's
PZZA
272 hedge funds and large institutions have $1.76B invested in Papa John's in 2025 Q3 according to their latest regulatory filings, with 43 funds opening new positions, 90 increasing their positions, 94 reducing their positions, and 49 closing their positions.
95% more call options, than puts
Call options by funds: $121M | Put options by funds: $62.2M
0.66% more ownership
Funds ownership: 110.76% → 111.41% (+0.66%)
1% less capital invested
Capital invested by funds: $1.77B → $1.76B (-$13.3M)
4% less repeat investments, than reductions
Existing positions increased: 90 | Existing positions reduced: 94
3% less funds holding
Funds holding: 281 → 272 (-9)
12% less first-time investments, than exits
New positions opened: 43 | Existing positions closed: 49
33% less funds holding in top 10
Funds holding in top 10: 6 → 4 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
ICM
Irenic Capital Management
New York
|
+$49.7M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$24.3M |
| 3 |
IMC Chicago
Chicago,
Illinois
|
+$16.2M |
| 4 |
GI
Gradient Investments
Arden Hills,
Minnesota
|
+$12.5M |
| 5 |
CF
Cantor Fitzgerald
New York
|
+$11.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$22.9M |
| 2 |
RRAM
River Road Asset Management
Louisville,
Kentucky
|
-$19.9M |
| 3 |
Barclays
London,
United Kingdom
|
-$14.1M |
| 4 |
BlackRock
New York
|
-$11.1M |
| 5 |
ACM
Arvin Capital Management
Austin,
Texas
|
-$9.44M |
PZZA Hedge Fund Activity: Q3 2025 in Review
272 of the 7,620 institutional investors tracked by Wall St. Rank reported a position in Papa John's (PZZA) for Q3 2025, worth a combined $1.76B — down 0.75% from $1.77B a quarter earlier.
Sellers outnumbered buyers: 49 funds closed out of PZZA and 43 opened new positions — a net loss of 6 holders — while 94 trimmed existing stakes and 90 added.
The largest buyer was Irenic Capital Management, opening a new position worth an estimated $49.7M. The largest seller was Citadel Advisors, cutting an estimated $22.9M.
- 272 institutional investors held Papa John's (PZZA) as of Q3 2025, down from 281 in Q2 2025.
- Funds reported $1.76B of Papa John's stock for Q3 2025, down 0.75% quarter-over-quarter.
- 43 funds opened new Papa John's positions in Q3 2025 and 49 closed out, a net change of -6 holders.
- The largest Papa John's buyer in Q3 2025 was Irenic Capital Management, an estimated $49.7M added.
- The largest Papa John's seller in Q3 2025 was Citadel Advisors, an estimated $22.9M sold.
Based on aggregated 13F filings for Q3 2025.