Papa John's
PZZA
265 hedge funds and large institutions have $1.34B invested in Papa John's in 2025 Q4 according to their latest regulatory filings, with 50 funds opening new positions, 87 increasing their positions, 101 reducing their positions, and 53 closing their positions.
220% more call options, than puts
Call options by funds: $201M | Put options by funds: $62.8M
6% less first-time investments, than exits
New positions opened: 50 | Existing positions closed: 53
3% less funds holding
Funds holding: 272 → 265 (-7)
5.13% less ownership
Funds ownership: 111.41% → 106.28% (-5.1%)
14% less repeat investments, than reductions
Existing positions increased: 87 | Existing positions reduced: 101
24% less capital invested
Capital invested by funds: $1.76B → $1.34B (-$415M)
50% less funds holding in top 10
Funds holding in top 10: 4 → 2 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Marshall Wace
London,
United Kingdom
|
+$14.9M |
| 2 |
QOP
Quinn Opportunity Partners
Charlottesville,
Virginia
|
+$14.7M |
| 3 |
EARNEST Partners
Atlanta,
Georgia
|
+$14.1M |
| 4 |
SEI Investments
Oaks,
Pennsylvania
|
+$11.6M |
| 5 |
Point72 Asset Management
Stamford,
Connecticut
|
+$11.2M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Victory Capital Management
San Antonio,
Texas
|
-$43M |
| 2 |
ICM
Irenic Capital Management
New York
|
-$33.1M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$22.9M |
| 4 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$18M |
| 5 |
BIP
Brandes Investment Partners
La Jolla,
California
|
-$16.2M |
PZZA Hedge Fund Activity: Q4 2025 in Review
265 institutional investors reported a position in Papa John's (PZZA) for Q4 2025, worth a combined $1.34B — down 24% from $1.76B a quarter earlier.
Sellers outnumbered buyers: 53 funds closed out of PZZA and 50 opened new positions — a net loss of 3 holders — while 101 trimmed existing stakes and 87 added.
The largest buyer was Marshall Wace, opening a new position worth an estimated $14.9M. The largest seller was Victory Capital Management, cutting an estimated $43M.
- 265 institutional investors held Papa John's (PZZA) as of Q4 2025, down from 272 in Q3 2025.
- Funds reported $1.34B of Papa John's stock for Q4 2025, down 24% quarter-over-quarter.
- 50 funds opened new Papa John's positions in Q4 2025 and 53 closed out, a net change of -3 holders.
- The largest Papa John's buyer in Q4 2025 was Marshall Wace, an estimated $14.9M added.
- The largest Papa John's seller in Q4 2025 was Victory Capital Management, an estimated $43M sold.
Based on aggregated 13F filings for Q4 2025.