Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Papa Johns Intl Inc (PZZA)

245 + Investors. Track Smart Money conviction in PZZA. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -17
Streak
3Q ▼
Buyers last Q
52%

Smart Money Signals — PZZA

Based on 246 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds reduced or closed their PZZA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 88% of 3.0Y peak

88% of all-time peak
246 funds currently hold this stock — 88% of the 3.0-year high of 281 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 9% fewer funds vs a year ago

fund count last 6Q
25 fewer hedge funds hold PZZA compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡

Slight buying edge — 52% buying

145 buying134 selling
Last quarter: 145 funds bought or added vs 134 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️

Steady new buyers — ~45 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 59 → 47 → 50 → 45. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

58% of holders stayed for 2+ years

■ 58% conviction (2yr+) ■ 25% medium ■ 17% new
143 out of 246 hedge funds have held PZZA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -11%, value -26%

Value
-26%
Shares
-11%
Last quarter: funds added -11% more shares while total portfolio value only changed -26%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~45 new funds/quarter

63 → 59 → 47 → 50 → 45 new funds/Q
New funds entering each quarter: 59 → 47 → 50 → 45. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 65% veterans vs 24% newcomers

■ 65% veterans ■ 11% 1-2yr ■ 24% new
Entry-cohort mix of 268 holders: 174 (65%) are 2+ year veterans, 30 entered 1–2 years ago, and 64 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 29% AUM from major funds

29% from top-100 AUM funds
44 of 240 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — PZZA

In 2026 Q1, 145 hedge funds were net buyers of PZZA (45 opened a new position, 100 added to an existing one), while 134 reduced or exited (72 trimmed, 62 sold completely) — a 52% buyer ratio, indicating a slight buying edge. This extends a 3-quarter selling streak, suggesting sustained institutional caution. 29% of total institutional value in PZZA is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -17 funds (more exits than new entries). Total institutional holders: 246.

Hedge Fund Ownership: PZZA

How many hedge funds hold PZZA — quarterly history vs. share price
Quarterly hedge fund ownership of PZZA vs. share price

Market Analysis: PZZA

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: PZZA

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Papa Johns Intl Inc (PZZA) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much PZZA has moved relative to its sector benchmark (XLY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 79d ago
PZZA
+12.4%
XLY
+6.0%

PZZA outperformed XLY by +6.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
PZZA
+6.3%
XLY
-0.9%

Since the filing became public, PZZA outperformed XLY by +7.2% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

26 top-rated funds 2 high-conviction
Consensus
6.2
/ 10
breadth
×
Elite
2.0
/ 10
conviction
Hedge Fund Positioning: PZZA
245 + Investors

Track Smart Money conviction in PZZA. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 245 263 -6.84%
13F Shares 36M 40M -11.1%
Total Value $1.14B $1.55B -26.42%
New Positions 44 50 -6
Increased Positions 94 89 +5
Closed Positions 62 61 +1
Reduced Positions 68 99 -31
Total Calls 15 22 -31.82%
Total Puts 12 12 -
PUT/CALL Ratio 0.8 0.55 Neutral

Statistics: PZZA

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Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

245 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in PZZA. Verified SEC 13F-HR filings.

QUARTER:
Top 25 PZZA holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Irth Capital Management LP 100.00% 1,628,503 $52.8M
2 Savoir Faire Capital Management, L.P. 2.44% 124,574 $4.0M
3 Quinn Opportunity Partners LLC 1.82% 1,074,651 $34.8M
4 Sapience Investments, LLC 1.79% 427 $14K
5 Barnett & Company, Inc. 1.46% 58,100 $1.9M
6 Shay Capital LLC 1.02% 378,692 $12.3M
7 Olympiad Research LP 0.94% 9,513 $308K
8 Greenhouse Funds LLLP 0.79% 546,016 $17.7M
9 Hunting Hill Global Capital, LLC 0.61% 24,400 $791K
10 Brandes Investment Partners, LP 0.60% 2,632,804 $85.3M
11 Great Hill Capital LLC 0.59% 280,431 $9.1M
12 Mill Road Capital Management LLC 0.54% 31,900 $1.0M
13 Shay Capital LLC 0.53% 195,300 $6.3M
14 Hunting Hill Global Capital, LLC 0.50% 20,000 $648K
15 Hunting Hill Global Capital, LLC 0.40% 16,000 $519K
16 Heartland Advisors Inc 0.40% 239,850 $7.8M
17 Diametric Capital, LP 0.33% 39,454 $1.3M
18 Fiduciary Alliance LLC 0.30% 135,581 $5.0M
19 Marble Bar Asset Management LLP 0.30% 9,294 $301K
20 Long Focus Capital Management, LLC 0.26% 310,622 $10.1M
21 Earnest Partners LLC 0.25% 1,902,194 $61.7M
22 Anson Funds Management LP 0.21% 75,000 $2.4M
23 Total Wealth Planning & Management, Inc. 0.21% 8,900 $288K
24 Total Wealth Planning & Management, Inc. 0.21% 8,900 $288K
25 Boothbay Fund Management, LLC 0.21% 491,683 $15.9M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Papa Johns Intl Inc (PZZA)

What does the Smart Money Trend signal show for PZZA?

Selling streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds reduced or closed their PZZA positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for PZZA?

Slight buying edge — 52% buying: Last quarter: 145 funds bought or added vs 134 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for PZZA holders?

Strong quality — 29% AUM from major funds: 44 of 240 holders rank in the top 100 by AUM, accounting for 29% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held PZZA?

58% of holders stayed for 2+ years: 143 out of 246 hedge funds have held PZZA for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Papa Johns Intl Inc (PZZA) following the 2026 Q1 hedge fund 13F filings?

As of today, PZZA has moved +6.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to -0.9% for the XLY sector ETF — an outperformance of +7.2%. Since the quarter end (March 31, 2026), PZZA has gained +12.4% vs +6.0% for XLY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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