SEC 13F Intelligence

Managers / Q3 2021 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$1.2B
Q3 2021
Positions
20
Filings on Record
30
2019–present window
Filed
Nov 15, 2021
original filing

Summary

P2 Capital Partners, LLC reported $1.2B in U.S.-listed holdings across 20 positions for Q3 2021.

Its largest position, ACHC, represents 10.5% of the portfolio.

Compared with Q2 2021, the fund opened 4 new positions and exited 3.

Portfolio Metrics

Turnover
+15.3%
vs prior filed quarter
Top-10 Concentration
+70.2%
share of reported value
Largest Position
+10.5%
Acadia Healthcare Company In
New / Exited
4 / 3
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: 86.4%Other: 6.9%ETP: 6.7%
  • Common Stock · 86.4% · $1.0B
  • Other · 6.9% · $82M
  • ETP · 6.7% · $80M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+364.4K364.4K+$80M$80M
ENVUSDENVESTNET INCNEW+330.2K330.2K+$26M$26M
HLLYHOLLEY INCNEW+558.0K558.0K+$7M$7M
CHNGUSDCHANGE HEALTHCARE INCNEW+150.0K150.0K+$3M$3M
2655957DPREMIER INCADDED+931.0K1.09M+$37M$42M
CSODCORNERSTONE ONDEMAND INCSOLD OUT−2.87M0−$148M$0
HGVHILTON GRAND VACATIONS INCSOLD OUT−780.6K0−$32M$0
K6BKBR INCSOLD OUT−479.2K0−$18M$0

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

Holdings — Q3 2021

20 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ACHCACADIA HEALTHCARE COMPANY INhistory →COM10.45%$124M1.94M
2CBZCBIZ INChistory →COM9.50%$113M3.49M
3BCOBRINKS COhistory →COM7.37%$87M1.38M
4AQUAUSDEVOQUA WATER TECHNOLOGIES COhistory →COM6.97%$83M2.20M
5OUTFRONT MEDIA INCCOM6.91%$82M3.25M
6ISHARES TRRUSSELL 2000 ETF6.72%$80M364.4K
7FULFULLER H B COhistory →COM6.24%$74M1.15M
8TSAACI WORLDWIDE INChistory →COM5.43%$64M2.10M
9CDKCDK GLOBAL INChistory →COM5.41%$64M1.51M
10BCBUSDPRIMO WATER CORPORATIONhistory →COM5.22%$62M3.94M
11VG1EURVONAGE HLDGS CORPhistory →COM5.19%$62M3.82M
12AVNTAVIENT CORPORATIONhistory →COM4.82%$57M1.23M
13NXSTNEXSTAR MEDIA GROUP INChistory →CL A3.70%$44M289.1K
142655957DPREMIER INChistory →CL A3.57%$42M1.09M
15UPLDEURUPLAND SOFTWARE INChistory →COM3.28%$39M1.17M
16TN1TENNANT COhistory →COM3.12%$37M500.0K
17BCORUSDBLUCORA INChistory →COM3.02%$36M2.30M
18ENVUSDENVESTNET INChistory →COM2.23%$26M330.2K
19HLLYHOLLEY INCCOM0.56%$7M558.0K
20CHNGUSDCHANGE HEALTHCARE INCCOM0.26%$3M150.0K

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 ↗.