Portillos Inc - Class A

Portillo's Inc. (NASDAQ: PTLO) operates a company-owned restaurant chain serving Chicago-style fare. The menu includes Italian beef sandwiches, Chicago-style hot dogs, char-broiled burgers, fresh salads and its signature chocolate cake. The company had 109 restaurants across 11 states as of the Q3 2026 release, including one restaurant owned by C&O, a joint venture in which Portillo's holds 50% of the equity. Its restaurants blend dine-in, drive-thru, takeout and delivery, supported by digital ordering and the Portillo's Perks loyalty program. The core market remains Chicagoland, with recent expansion concentrated in Texas (Dallas-Fort Worth, Houston, San Antonio and El Paso areas), including an airport location at Dallas-Fort Worth International Airport and a forthcoming in-line format in Chicago. In November 2026, under CEO Brett Patterson, the company launched a strategic plan built on Operational Excellence, Integrated Marketing and Disciplined Development, supported by financial rigor. The plan includes a smaller, lower-capital 2028 restaurant prototype and the closure of a mid-to-high single-digit number of underperforming restaurants outside Chicagoland. Portillo's carries a Tax Receivable Agreement liability tied to its Up-C organizational structure, and its common equity consists of Class A and Class B shares. Updated Nov 5, 2026