Vault-13

POTBELLY CORP PBPB

COM · Common Stock · CUSIP 73754Y100

115 institutional holders +5 vs Q3 2024
22,119,71722.1m shares reported held*
$208.5mreported value*
13 new 34 added 35 reduced 13 sold out net bought ≈ $3.9m (+419.1k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($178.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $9.43. Options: 3 managers hold calls ($427.7k notional), 3 hold puts ($1.9k).

Trends to Q4 2024

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 54Q4 22: 56Q1 23: 76Q2 23: 87Q3 23: 92Q4 23: 91Q1 24: 119Q2 24: 111Q3 24: 110Q4 24: 115115Q3 22Q1 23Q3 23Q1 24Q3 24Q4 24
Numbers
QuarterHolders
Q3 202254
Q4 202256
Q1 202376
Q2 202387
Q3 202392
Q4 202391
Q1 2024119
Q2 2024111
Q3 2024110
Q4 2024115

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
1000100Q1 23: 54 bought or addedQ1 23: 12 cut or sold outQ2 23: 59 bought or addedQ2 23: 32 cut or sold outQ2 23Q3 23: 38 bought or addedQ3 23: 40 cut or sold outQ4 23: 47 bought or addedQ4 23: 37 cut or sold outQ4 23Q1 24: 70 bought or addedQ1 24: 45 cut or sold outQ2 24: 59 bought or addedQ2 24: 59 cut or sold outQ2 24Q3 24: 57 bought or addedQ3 24: 47 cut or sold outQ4 24: 47 bought or addedQ4 24: 48 cut or sold outQ4 24
Numbers
QuarterBought or addedCut or sold out
Q1 20235412
Q2 20235932
Q3 20233840
Q4 20234737
Q1 20247045
Q2 20245959
Q3 20245747
Q4 20244748

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5m$2mQ1 24 calls: $2.0mQ1 24 puts: $539.9kQ1 24P/C 0.28Q2 24 calls: $1.9mQ2 24 puts: $13.6kQ2 24P/C 0.01Q3 24 calls: $824.5kQ3 24 puts: $93.4kQ3 24P/C 0.11Q4 24 calls: $427.7kQ4 24 puts: $1.9kQ4 24P/C 0.00
Numbers
QuarterCallsPutsP/C
Q1 2024$2.0m$539.9k0.28
Q2 2024$1.9m$13.6k0.01
Q3 2024$824.5k$93.4k0.11
Q4 2024$427.7k$1.9k0.00

Biggest buyers

MARSHALL WACE, LLP Added +172,969+173.0k
Vantage Consulting Group Inc New +164,875+164.9k
Hodges Capital Management Inc. Added +159,900+159.9k
CITADEL ADVISORS LLC Added +143,508+143.5k
AMERICAN CENTURY COMPANIES INC Added +85,651+85.7k
Portolan Capital Management, LLC Added +83,748+83.7k
Sanctuary Advisors, LLC New +55,156+55.2k
Cubist Systematic Strategies, LLC New +49,976+50.0k
First Eagle Investment Management, LLC Added +49,000+49.0k
GOLDMAN SACHS GROUP INC Added +35,602+35.6k

Biggest sellers

AQR CAPITAL MANAGEMENT LLC Sold out -80,572-80.6k
MILLENNIUM MANAGEMENT LLC Reduced -74,926-74.9k
Western Standard LLC Reduced -70,796-70.8k
BOOTHBAY FUND MANAGEMENT, LLC Reduced -67,766-67.8k
Soviero Asset Management, LP Reduced -54,000-54.0k
RENAISSANCE TECHNOLOGIES LLC Reduced -52,200-52.2k
GSA CAPITAL PARTNERS LLP Reduced -49,386-49.4k
LOS ANGELES CAPITAL MANAGEMENT LLC Reduced -39,730-39.7k
Assenagon Asset Management S.A. Reduced -36,862-36.9k
JPMORGAN CHASE & CO Reduced -35,982-36.0k

Biggest calls

Crawford Fund Management, LLC Reduced $244.9k26.0k shares
CITADEL ADVISORS LLC Added $182.7k19.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $1.9k200 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares
SIMPLEX TRADING, LLC Unchanged $0100 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Nierenberg Investment Management Company, Inc. 13D · may seek influence filed 2025-03-17
Stated purposeItem 4 of the Schedule 13D is hereby amended to add the following Language: On March14, 2025, the Reporting Persons submitted a letter to the Board of Directors of the issuer (the "March 14 Letter"). The full text of the March 14 Letter is attached hereto as Exhibit 99.1. Full filing
 10.3% 3.1m 2025-03-17
Portolan Capital Management, LLC 13G · passive investor new · filed 2025-06-27 5.5% new 1.7m 2025-06-27
GLAZER CAPITAL, LLC 13G · passive investor new · filed 2025-09-29 5.3% new 1.6m 2025-09-29

Holders, Q4 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Nierenberg Investment Management Company, LLC 16.43% of their portfolio Camas, WA 2,980,5643.0m $28.1m $28.1m 16.43% Unchanged
2 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,982,0702.0m $18.7m $18.7m 0.00% Reduced -17.7k -17,663
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,424,3671.4m $13.4m $13.4m 0.00% Reduced -14.7k -14,737
4 PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. 0.66% of their portfolio EDINA, MN 1,287,3551.3m $12.1m $12.1m 0.66% Reduced -3.0k -3,000
5 First Eagle Investment Management, LLC 0.02% of their portfolio NEW YORK, NY 1,160,8281.2m $10.9m $10.9m 0.02% Added +49.0k +49,000
6 RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio NEW YORK, NY 1,149,6541.1m $10.8m $10.8m 0.02% Reduced -52.2k -52,200
7 Portolan Capital Management, LLC 0.62% of their portfolio BOSTON, MA 986,277986.3k $9.3m $9.3m 0.62% Added +83.7k +83,748
8 HEARTLAND ADVISORS INC 0.47% of their portfolio MILWAUKEE, WI 923,950924.0k $8.7m $8.7m 0.47% Reduced -4.7k -4,650
9 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 617,199617.2k $5.8m $5.8m 0.00% Added +8.9k +8,863
10 Hodges Capital Management Inc. 0.31% of their portfolio DALLAS, TX 539,915539.9k $5.1m $5.1m 0.31% Added +159.9k +159,900
11 MONIMUS CAPITAL MANAGEMENT, LP 4.62% of their portfolio WOODBRIDGE, NJ 520,259520.3k $4.9m $4.9m 4.62% First filing
12 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 518,445518.4k $4.9m $4.9m 0.00% Added +19.5k +19,530
13 Archon Capital Management LLC 5.76% of their portfolio Seattle, WA 507,940507.9k $4.8m $4.8m 5.76% Unchanged
14 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 499,749499.7k $4.7m $4.7m 0.00% Reduced -3.0k -3,003
15 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.03% of their portfolio NEW YORK, NY 479,031479.0k $4.5m $4.5m 0.03% Reduced -4.7k -4,732
16 Soviero Asset Management, LP 3.12% of their portfolio NEW YORK, NY 476,000476.0k $4.5m $4.5m 3.12% Reduced -54.0k -54,000
17 Ancora Advisors LLC 0.10% of their portfolio Cleveland, OH 474,653474.7k $4.5m $4.5m 0.10% Reduced -178 -178
18 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 399,870399.9k $3.8m $3.8m 0.00% Reduced -74.9k -74,926
19 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 378,904378.9k $3.6m $3.6m 0.00% Reduced -8.2k -8,210
20 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 351,271351.3k $3.3m $3.3m 0.00% Added +8.1k +8,083
21 Western Standard LLC 2.07% of their portfolio Los Angeles, CA 329,973330.0k $3.1m $3.1m 2.07% Reduced -70.8k -70,796
22 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 305,142305.1k $2.9m $2.9m 0.00% Reduced -18.9k -18,924
23 Cerity Partners LLC 0.01% of their portfolio NEW YORK, NY 277,697277.7k $2.6m $2.6m 0.01% Reduced -2.0k -1,969
24 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 223,751223.8k $2.1m $2.1m 0.00% Added +6.0k +6,013
25 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 195,775195.8k $1.8m $1.8m 0.00% Added +173.0k +172,969
26 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 172,194172.2k $1.6m $1.6m 0.00% Added +143.5k +143,508
27 Vantage Consulting Group Inc 14.80% of their portfolio VIRGINIA BEACH, VA 164,875164.9k $1.6m $1.6m 14.80% New
28 NEXT CENTURY GROWTH INVESTORS LLC 0.11% of their portfolio PLYMOUTH, MN 155,316155.3k $1.5m $1.5m 0.11% Reduced -13.9k -13,895
29 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 147,147147.1k $1.4m $1.4m 0.00% Added +85.7k +85,651
30 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 145,224145.2k $1.4m $1.4m 0.00% Added +35.6k +35,602
31 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 135,281135.3k $1.3m $1.3m 0.00% Reduced -3.4k -3,443
32 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 117,800117.8k $1.1m $1.1m 0.00% Reduced -3.6k -3,603
33 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 101,665101.7k $957.7k $957.7k 0.00% Added +626 +626
34 TECTONIC ADVISORS LLC 0.06% of their portfolio FRISCO, TX 100,547100.5k $947.2k $947.2k 0.06% Added +5.2k +5,194
35 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 98,12498.1k $924.3k $924.3k 0.00% Reduced -36.0k -35,982
36 LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio LOS ANGELES, CA 92,87592.9k $874.9k $874.9k 0.00% Reduced -39.7k -39,730
37 BOOTHBAY FUND MANAGEMENT, LLC 0.03% of their portfolio NEW YORK, NY 91,55991.6k $862.5k $862.5k 0.03% Reduced -67.8k -67,766
38 Trexquant Investment LP 0.01% of their portfolio STAMFORD, CT 87,97688.0k $828.7k $828.7k 0.01% Added +34.5k +34,480
39 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 76,52576.5k $720.9k $720.9k 0.00% Unchanged
40 Assenagon Asset Management S.A. 0.00% of their portfolio SENNINGERBERG, N4 71,71871.7k $675.6k $675.6k 0.00% Reduced -36.9k -36,862
41 Fortis Advisors, LLC 0.43% of their portfolio WAYNE, PA 69,96970.0k $659.1k $659.1k 0.43% Unchanged
42 RAFFLES ASSOCIATES LP 0.71% of their portfolio NEW YORK, NY 69,76169.8k $657.1k $657.1k 0.71% Unchanged
43 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 64,33864.3k $606.1k $606.1k 0.00% Reduced -3.2k -3,224
44 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio HOUSTON, TX 60,70060.7k $571.8k $571.8k 0.01% Unchanged
45 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 57,19357.2k $538.8k $538.8k 0.00% Added +21.9k +21,917
46 Sanctuary Advisors, LLC 0.00% of their portfolio INDIANAPOLIS, IN 55,15655.2k $699.4k $699.4k 0.00% New
47 Boston Partners 0.00% of their portfolio BOSTON, MA 52,81352.8k $497.5k $497.5k 0.00% Unchanged
48 Cubist Systematic Strategies, LLC 0.01% of their portfolio STAMFORD, CT 49,97650.0k $470.8k $470.8k 0.01% New
49 DHK Financial Advisors, Inc. 0.27% of their portfolio PORTSMOUTH, NH 46,95247.0k $442.3k $442.3k 0.27% Unchanged
50 GSA CAPITAL PARTNERS LLP 0.03% of their portfolio LONDON, X0 45,37945.4k $427.0k $427.0k 0.03% Reduced -49.4k -49,386
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 44,84944.8k $422.5k $422.5k 0.00% Added +22.3k +22,335
52 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 44,84144.8k $422.4k $422.4k 0.00% Reduced -21.8k -21,797
53 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 43,48043.5k $409.6k $409.6k 0.00% Added +3.7k +3,700
54 GatePass Capital, LLC 0.42% of their portfolio INDEPENDENCE, OH 40,48640.5k $381.4k $381.4k 0.42% First filing
55 XTX Topco Ltd 0.03% of their portfolio LONDON, X0 38,24238.2k $360.2k $360.2k 0.03% Added +6.3k +6,258
56 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 36,76436.8k $346.3k $346.3k 0.00% Added +16 +16
57 Campbell & CO Investment Adviser LLC 0.03% of their portfolio BALTIMORE, MD 36,25336.3k $341.5k $341.5k 0.03% Reduced -11.8k -11,769
58 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 35,12335.1k $330.9k $330.9k 0.00% Added +76 +76
59 1492 Capital Management LLC 0.12% of their portfolio MILWAUKEE, WI 26,44426.4k $249.1k $249.1k 0.12% New
60 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 25,49125.5k $240.1k $240.1k 0.00% Added +2.4k +2,418
61 STEPHENS INC /AR/ 0.00% of their portfolio LITTLE ROCK, AR 25,18525.2k $237.2k $237.2k 0.00% Unchanged
62 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 24,99725.0k $235.5k $235.5k 0.00% Added +6.6k +6,594
63 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 22,80722.8k $214.8k $214.8k 0.00% Reduced -9.9k -9,903
64 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 21,99122.0k $207.2k $207.2k 0.00% Added +2.2k +2,177
65 PANAGORA ASSET MANAGEMENT INC 0.00% of their portfolio BOSTON, MA 21,71421.7k $204.5k $204.5k 0.00% New
66 Orchard Capital Management, LLC 0.08% of their portfolio CHICAGO, IL 20,88820.9k $196.8k $196.8k 0.08% Unchanged
67 ExodusPoint Capital Management, LP 0.00% of their portfolio NEW YORK, NY 19,74219.7k $186.0k $186.0k 0.00% New
68 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 19,61019.6k $184.7k $184.7k 0.00% Added +6.6k +6,610
69 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 17,39417.4k $163.9k $163.9k 0.00% Unchanged
70 Divisadero Street Capital Management, LP 0.02% of their portfolio MIAMI, FL 17,00017.0k $160.1k $160.1k 0.02% New
71 OPPENHEIMER ASSET MANAGEMENT INC. 0.00% of their portfolio NEW YORK, NY 16,47216.5k $155.2k $155.2k 0.00% Reduced -1.3k -1,251
72 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio CAUSEWAY BAY, K3 15,86315.9k $149.4k $149.4k 0.00% Added +684 +684
73 MetLife Investment Management, LLC 0.00% of their portfolio Whippany, NJ 15,61715.6k $147.1k $147.1k 0.00% Unchanged
74 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 14,00014.0k $131.9k $131.9k 0.00% Unchanged
75 STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio MADISON, WI 13,66113.7k $128.7k $128.7k 0.00% Reduced -4.5k -4,496
76 Corebridge Financial, Inc. 0.00% of their portfolio HOUSTON, TX 13,64913.6k $128.6k $128.6k 0.00% Reduced -1.0k -1,030
77 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 13,40013.4k $124.0k $124.0k 0.00% Added +3.0k +3,000
78 INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio WEST PALM BEACH, FL 13,21713.2k $124.5k $124.5k 0.00% New
79 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 12,88312.9k $121.4k $121.4k 0.00% Added +4.3k +4,328
80 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 12,86112.9k $121.0k $121.0k 0.00% New
81 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 10,34710.3k $98.0k $98.0k 0.00% New
82 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 10,04010.0k $94.6k $94.6k 0.00% Reduced -35.7k -35,699
83 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 9,4209.4k $88.7k $88.7k 0.00% Unchanged
84 FMR LLC 0.00% of their portfolio BOSTON, MA 8,7458.7k $82.4k $82.4k 0.00% Added +67 +67
85 State of Wyoming 0.01% of their portfolio CHEYENNE, WY 7,0127.0k $66.1k $66.1k 0.01% Added +876 +876
86 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 6,4736.5k $61.0k $61.0k 0.00% Reduced -28.5k -28,505
87 Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio TRENTON, NJ 5,8315.8k $54.9k $54.9k 0.00% First filing
88 SALEM INVESTMENT COUNSELORS INC 0.00% of their portfolio WINSTON-SALEM, NC 5,2395.2k $49.4k $49.4k 0.00% Unchanged
89 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 4,9865.0k $46.0k $46.0k 0.00% Added +4.8k +4,761
90 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 4,5244.5k $42.0k $42.0k 0.00% Reduced -2.2k -2,209
91 Legal & General Group Plc 0.00% of their portfolio London, X0 3,1333.1k $29.5k $29.5k 0.00% Reduced -111 -111
92 Aquatic Capital Management LLC 0.00% of their portfolio CHICAGO, IL 2,8292.8k $26.6k $26.6k 0.00% New
93 Ameritas Investment Partners, Inc. 0.00% of their portfolio LINCOLN, NE 2,1552.2k $20.3k $20.3k 0.00% Unchanged
94 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 1,9892.0k $18.7k $18.7k 0.00% Unchanged
95 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 1,1581.2k $10.9k $10.9k 0.00% Added +122 +122
96 North Star Investment Management Corp. 0.00% of their portfolio CHICAGO, IL 1,0001.0k $9.4k $9.4k 0.00% Unchanged
97 SBI Securities Co., Ltd. 0.00% of their portfolio TOKYO, M0 1,0001.0k $9.4k $9.4k 0.00% First filing
98 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 900900 $8.5k $8.5k 0.00% Unchanged
99 AMALGAMATED BANK 0.00% of their portfolio NEW YORK, NY 880880 $8.0k $8.0k 0.00% Unchanged
100 Versant Capital Management, Inc 0.00% of their portfolio PHOENIX, AZ 851851 $8.0k $8.0k 0.00% New