Papa John's
PZZA
246 hedge funds and large institutions have $1.09B invested in Papa John's in 2026 Q1 according to their latest regulatory filings, with 47 funds opening new positions, 95 increasing their positions, 65 reducing their positions, and 59 closing their positions.
50% more funds holding in top 10
Funds holding in top 10: 2 → 3 (+1)
46% more repeat investments, than reductions
Existing positions increased: 95 | Existing positions reduced: 65
36% more call options, than puts
Call options by funds: $65.3M | Put options by funds: $47.9M
3.72% less ownership
Funds ownership: 106.31% → 102.59% (-3.7%)
7% less funds holding
Funds holding: 264 → 246 (-18)
18% less capital invested
Capital invested by funds: $1.34B → $1.09B (-$247M)
20% less first-time investments, than exits
New positions opened: 47 | Existing positions closed: 59
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BIP
Brandes Investment Partners
La Jolla,
California
|
+$78.5M |
| 2 |
QOP
Quinn Opportunity Partners
Charlottesville,
Virginia
|
+$25.8M |
| 3 |
GF
Greenhouse Funds
Baltimore,
Maryland
|
+$19M |
| 4 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$12.7M |
| 5 |
SC
Shay Capital
New York
|
+$9.05M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DRZID
DePrince Race & Zollo Inc (DRZ)
Winter Park,
Florida
|
-$63.8M |
| 2 |
T. Rowe Price Investment Management
Baltimore,
Maryland
|
-$36.5M |
| 3 |
WP
Woodline Partners
San Francisco,
California
|
-$27.3M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$21.6M |
| 5 |
ICM
Irenic Capital Management
New York
|
-$12.5M |
PZZA Hedge Fund Activity: Q1 2026 in Review
246 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Papa John's (PZZA) for Q1 2026, worth a combined $1.09B — down 18% from $1.34B a quarter earlier.
Sellers outnumbered buyers: 59 funds closed out of PZZA and 47 opened new positions — a net loss of 12 holders — while 65 trimmed existing stakes and 95 added.
The largest buyer was Brandes Investment Partners, adding an estimated $78.5M. The largest seller was DePrince Race & Zollo Inc (DRZ), exiting entirely with an estimated $63.8M sold.
- 246 institutional investors held Papa John's (PZZA) as of Q1 2026, down from 264 in Q4 2025.
- Funds reported $1.09B of Papa John's stock for Q1 2026, down 18% quarter-over-quarter.
- 47 funds opened new Papa John's positions in Q1 2026 and 59 closed out, a net change of -12 holders.
- The largest Papa John's buyer in Q1 2026 was Brandes Investment Partners, an estimated $78.5M added.
- The largest Papa John's seller in Q1 2026 was DePrince Race & Zollo Inc (DRZ), an estimated $63.8M sold.
Based on aggregated 13F filings for Q1 2026.