Potbelly Ownership | Who Owns Potbelly?

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Potbelly Ownership Summary

Potbelly is owned by 43.06% institutional investors, 10.82% insiders, and 46.12% retail investors. Nierenberg investment management company is the largest institutional shareholder, holding 9.87% of PBPB shares. Strategic Advisers U.S. Total Stock is the top mutual fund, with 3.12% of its assets in Potbelly shares.

PBPB Ownership Benchmark

Type	Name	% Inst	% Insiders	% Retail
Stock	Potbelly	43.06%	10.82%	46.12%
Sector	Consumer Cyclical Stocks	42.53%	14.10%	43.38%
Industry	Restaurants Stocks	49.56%	11.47%	38.97%

Institutional Shareholders

Top Institutional Shareholders by Total Shares

Holder	Shares	% Holding	Value
Nierenberg investment management company	2.98M	9.87%	$50.79M
Blackrock funding, inc. /de	2.01M	6.66%	$34.24M
Blackrock	1.91M	6.48%	$15.37M
Glazer capital	1.63M	5.40%	$27.80M
Vanguard group	1.45M	4.80%	$24.71M
Water island capital	1.35M	4.48%	$23.03M
Fil	1.21M	4.01%	$20.63B
Renaissance	1.11M	3.69%	$18.96M
Versor investments lp	1.06M	3.50%	$18.02M
American century companies	613.55K	2.03%	$10.45M

Top Institutional Shareholders by % of Total Assets

Holder	Shares	% Assets	Value
Nierenberg investment management company	2.98M	21.70%	$50.79M
Monimus capital management, lp	582.33K	6.12%	$9.92M
Versor investments lp	1.06M	3.32%	$18.02M
Water island capital	1.35M	2.90%	$23.03M
Bck capital management lp	81.61K	1.48%	$1.39M
Gabelli & co investment advisers	386.20K	1.06%	$6.58M
Glazer capital	1.63M	0.93%	$27.80M
Fortis advisors	69.97K	0.67%	$1.19M
Alpine associates management	524.30K	0.54%	$8.93M
Crawford fund management	195.50K	0.40%	$1.57M

Top Buyers

Holder	Shares	% Assets	Change
Glazer capital	1.63M	0.93%	1.63M
Water island capital	1.35M	2.90%	1.35M
Fil	1.21M	0.02%	1.21M
Versor investments lp	1.06M	3.32%	1.06M
Alpine associates management	524.30K	0.54%	524.30K

Top Sellers

Holder	Shares	% Assets	Change
Portolan capital management	-	-	-1.67M
First eagle investment management	-	-	-989.03K
Western standard	-	-	-927.59K
Silvercrest asset management group	-	-	-639.65K
Punch & associates investment management	338.78K	0.33%	-615.55K

New Positions

Holder	Shares	% Assets	Change	Value
Glazer capital	1.63M	0.93%	1.63M	$27.80M
Water island capital	1.35M	2.90%	1.35M	$23.03M
Fil	1.21M	0.02%	1.21M	$20.63B
Versor investments lp	1.06M	3.32%	1.06M	$18.02M
Alpine associates management	524.30K	0.54%	524.30K	$8.93M

Sold Out

Holder	Change
Nelson, van denburg & campbell wealth management group	-6.00
Transce3nd	-35.00
Coppell advisory solutions	-35.00
Capital performance advisors llp	-70.00
Cornerstone planning group	-82.00

Institutional Ownership Trends

Date	Holdings	Change %	Shares	Change %	Ownership	Change %	Increased Position	Change %	Decreased Position	Change %
Sep 30, 2025	64	-46.67%	13,000,947	-43.21%	43	0.75%	36	-35.71%	15	-63.41%
Jun 30, 2025	126	7.69%	23,382,096	7.12%	77	1.45%	57	-	44	25.71%
Mar 31, 2025	119	2.59%	22,458,624	1.63%	75	1.38%	57	11.76%	36	2.86%
Dec 31, 2024	41	-63.72%	6,732,916	-68.07%	22	0.45%	15	-74.58%	10	-68.75%
Sep 30, 2024	112	-1.75%	21,084,251	1.00%	70	1.45%	59	-4.84%	32	-

Top Mutual Funds Shareholders

Holder	Shares	% Holding	Change
Strategic Advisers U.S. Total Stock	944.72K	3.12%	37.22K
First Eagle US Small Cap Strategy	870.56K	2.89%	-2.94K
First Eagle Small Cap Opportunity I	863.36K	2.85%	-7.20K
Vanguard US Total Market Shares ETF	832.67K	2.79%	-
Vanguard Total Stock Mkt Idx Inv	814.61K	2.69%	-18.06K
Heartland Value Investor	650.00K	2.15%	-
iShares Russell 2000 ETF	630.12K	2.08%	-
Strategic Advisers U.S. Total Stock{mg}	619.09K	2.07%	98.23K
Strategic Advisers Small-Mid Cap	572.47K	1.91%	143.08K
Avantis US Small Cap Value ETF	411.23K	1.36%	2.78K

Recent Insider Transactions

Date	Name	Role	Activity	Value
Mar 28, 2025	Nierenberg David	-	Buy	$207.50K
Jan 07, 2025	Nierenberg David	-	Buy	$69.22K
Jan 07, 2025	Nierenberg David	-	Buy	$924.00
Dec 18, 2024	Nierenberg David	-	Buy	$14.95K
Dec 18, 2024	Nierenberg David	-	Buy	$29.42K

Insider Transactions Trends

Date	Buy	Sell
2025 Q2	-	-
2025 Q1	3	-
2024 Q4	2	-
2024 Q3	9	-
2024 Q2	4	-

PBPB Ownership FAQ

Who Owns Potbelly?

Potbelly shareholders are primarily institutional investors at 43.06%, followed by 10.82% insiders and 46.12% retail investors. The average institutional ownership in Potbelly's industry, Restaurants Stocks , is 49.56%, which Potbelly falls below.

Who owns the most shares of Potbelly?

Potbelly’s largest shareholders are Nierenberg investment management company (2.98M shares, 9.87%), Blackrock funding, inc. /de (2.01M shares, 6.66%), and Blackrock (1.91M shares, 6.48%). Together, they hold 23.00% of Potbelly’s total shares outstanding.

Does Blackrock own Potbelly?

Yes, BlackRock owns 6.48% of Potbelly, totaling 1.91M shares as of Jun 2024. This represents 0.00% of BlackRock's total assets, with a market value of 15.37M$. In the last quarter, BlackRock increased its holdings by 58.16K shares, a 3.13% change.

Who is Potbelly’s biggest shareholder by percentage of total assets invested?

Nierenberg investment management company is Potbelly’s biggest shareholder by percentage of total assets invested, with 21.70% of its assets in 2.98M Potbelly shares, valued at 50.79M$.

Who is the top mutual fund holder of Potbelly shares?

Strategic Advisers U.S. Total Stock is the top mutual fund holder of Potbelly shares, with 3.12% of its total shares outstanding invested in 944.72K Potbelly shares.

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