SEC 13F Intelligence

Managers / Q2 2020 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$1.2B
Q2 2020
Positions
17
Filings on Record
30
2019–present window
Filed
Aug 14, 2020
original filing

Summary

P2 Capital Partners, LLC reported $1.2B in U.S.-listed holdings across 17 positions for Q2 2020.

Its largest position, ACHC, represents 11.7% of the portfolio.

Compared with Q1 2020, the fund opened 3 new positions and exited 0.

Portfolio Metrics

Turnover
+4.3%
vs prior filed quarter
Top-10 Concentration
+75.4%
share of reported value
Largest Position
+11.7%
Acadia Healthcare Company In

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: 97.3%Other: 2.7%
  • Common Stock · 97.3% · $1.2B
  • Other · 2.7% · $33M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CDKCDK GLOBAL INCNEW+1.50M1.50M+$62M$62M
CSODCORNERSTONE ONDEMAND INCNEW+1.60M1.60M+$62M$62M
CHNGUSDCHANGE HEALTHCARE INCNEW+4.68M4.68M+$52M$52M
SP PLUS CORPTRIMMED−784.6K810.3K−$16M$17M
NXSTNEXSTAR MEDIA GROUP INCTRIMMED−379.5K1.32M+$12M$111M
BCOBRINKS COTRIMMED−273.8K1.98M−$27M$90M
CBZCBIZ INCADDED+353.9K3.34M+$18M$80M
MMSMAXIMUS INCTRIMMED−67.2K691.2K+$5M$49M

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

Holdings — Q2 2020

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ACHCACADIA HEALTHCARE COMPANY INhistory →COM11.70%$140M5.58M
2BCBUSDPRIMO WATER CORPORATIONhistory →COM9.26%$111M8.06M
3NXSTNEXSTAR MEDIA GROUP INChistory →CL A9.24%$111M1.32M
4BCOBRINKS COhistory →COM7.51%$90M1.98M
5HGVHILTON GRAND VACATIONS INChistory →COM6.90%$83M4.23M
6AQUAUSDEVOQUA WATER TECHNOLOGIES COhistory →COM6.75%$81M4.34M
7CBZCBIZ INChistory →COM6.68%$80M3.34M
8FULFULLER H B COhistory →COM6.36%$76M1.71M
9MDMEDNAX INChistory →COM5.86%$70M4.10M
10CDKCDK GLOBAL INChistory →COM5.19%$62M1.50M
11CSODCORNERSTONE ONDEMAND INChistory →COM5.16%$62M1.60M
12TSAACI WORLDWIDE INChistory →COM4.50%$54M2.00M
13CHNGUSDCHANGE HEALTHCARE INChistory →COM4.38%$52M4.68M
14MMSMAXIMUS INChistory →COM4.07%$49M691.2K
15OUTFRONT MEDIA INCCOM2.72%$33M2.29M
16EBIXEUREBIX INChistory →COM NEW2.34%$28M1.25M
17SP PLUS CORPCOM1.40%$17M810.3K

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 ↗.