SEC 13F Intelligence

Managers / Q1 2026

P2 Capital Partners, LLC

CIK 0001406313 · 590 MADISON AVENUE, 25TH FLOOR, NEW YORK, NY, 10022 · (212) 508-5500

Reported Value
$210M
Q1 2026
Positions
10
Filings on Record
30
2019–present window
Filed
May 15, 2026
original filing

Summary

P2 Capital Partners, LLC reported $210M in U.S.-listed holdings across 10 positions for Q1 2026.

Its largest position, ACHC, represents 19.8% of the portfolio.

Compared with Q4 2025, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+13.8%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+19.8%
Acadia Healthcare Company In
New / Exited
1 / 1
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $991MQ4 ’18Q1 ’19: $1.2BQ2 ’19: $1.3BQ3 ’19: $1.5BQ4 ’19: $1.4BQ4 ’19Q1 ’20: $836MQ2 ’20: $1.2BQ3 ’20: $1.3BQ4 ’20: $1.5BQ4 ’20Q1 ’21: $1.5BQ2 ’21: $1.3BQ3 ’21: $1.2BQ4 ’21: $1.3BQ4 ’21Q1 ’22: $1.1BQ2 ’22: $883MQ3 ’22: $810MQ4 ’22: $756MQ4 ’22Q1 ’23: $780MQ2 ’23: $859MQ3 ’23: $764MQ4 ’23: $909MQ4 ’23Q1 ’24: $846MQ2 ’24: $912MQ3 ’24: $876MQ4 ’24: $589MQ4 ’24Q1 ’25: $515MQ2 ’25: $522MQ3 ’25: $520MQ4 ’25: $390MQ4 ’25Q1 ’26: $210Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 95.6%Other: 4.4%
  • Common Stock · 95.6% · $201M
  • Other · 4.4% · $9M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ACHCACADIA HEALTHCARE COMPANY INNEW+1.77M1.77M+$42M$42M
AVNTAVIENT CORPORATIONSOLD OUT−624.9K0−$20M$0
LIVANOVA PLCTRIMMED−348.2K145.7K−$21M$9M
JBTJBT MAREL CORPORATIONTRIMMED−224.5K225.5K−$39M$29M
ENOVENOVIS CORPORATIONTRIMMED−275.0K320.0K−$9M$7M
ZETAZETA GLOBAL HOLDINGS CORPTRIMMED−785.0K915.0K−$20M$15M
MSAMSA SAFETY INCTRIMMED−82.4K103.3K−$13M$17M
TN1TENNANT COTRIMMED−180.7K304.2K−$16M$20M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

10 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ACHCACADIA HEALTHCARE COMPANY INhistory →COM19.77%$42M1.77M
2CBZCBIZ INChistory →COM14.59%$31M1.14M
3JBTJBT MAREL CORPORATIONhistory →COM13.73%$29M225.5K
4HSICSCHEIN HENRY INChistory →COM10.51%$22M299.5K
5TN1TENNANT COhistory →COM9.62%$20M304.2K
6BLKBBLACKBAUD INChistory →COM8.88%$19M482.9K
7MSAMSA SAFETY INChistory →COM8.07%$17M103.3K
8ZETAZETA GLOBAL HOLDINGS CORPhistory →CL A6.94%$15M915.0K
9LIVANOVA PLCSHS4.41%$9M145.7K
10ENOVENOVIS CORPORATIONhistory →COM3.47%$7M320.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$210M10May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$390M10Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$520M13Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$522M13Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$515M12May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$589M11Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$876M15Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$912M18Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$846M15May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$909M15Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$764M14Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$859M15Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$780M15May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$756M15Feb 23, 202313F-HRchanges · EDGAR ↗
Q3 2022$810M19Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$883M21Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.1B22May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.3B21Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.2B20Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.3B19Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.5B20May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.5B18Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.3B18Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.2B17Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$836M14May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.4B16Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.5B16Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.3B16Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.2B17May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$991M17Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.