SEC 13F Intelligence

Managers / Q3 2022 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$810M
Q3 2022
Positions
19
Filings on Record
30
2019–present window
Filed
Nov 14, 2022
original filing

Summary

P2 Capital Partners, LLC reported $810M in U.S.-listed holdings across 19 positions for Q3 2022.

Its largest position, CBZ, represents 18.4% of the portfolio.

Compared with Q2 2022, the fund opened 1 new position and exited 3.

Portfolio Metrics

Turnover
+9.7%
vs prior filed quarter
Top-10 Concentration
+77.5%
share of reported value
Largest Position
+18.4%
Cbiz
New / Exited
1 / 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: 90.6%Other: 9.4%
  • Common Stock · 90.6% · $734M
  • Other · 9.4% · $77M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SITESITEONE LANDSCAPE SUPPLY INCNEW+240.1K240.1K+$25M$25M
HLLYHOLLEY INCSOLD OUT−4.63M0−$49M$0
NXSTNEXSTAR MEDIA GROUP INCSOLD OUT−58.6K0−$10M$0
RDNTRADNET INCSOLD OUT−200.0K0−$3M$0
BLKBBLACKBAUD INCADDED+653.8K1.37M+$19M$60M
NOTVQINOTIV INCTRIMMED−2.23M715.7K−$16M$12M
ENVUSDENVESTNET INCTRIMMED−264.0K175.0K−$15M$8M
MIRMIRION TECHNOLOGIES INCADDED+545.4K4.13M+$10M$31M

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

Holdings — Q3 2022

19 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBZCBIZ INChistory →COM18.40%$149M3.49M
2ACHCACADIA HEALTHCARE COMPANY INhistory →COM15.44%$125M1.60M
3BLKBBLACKBAUD INChistory →COM7.43%$60M1.37M
4FULFULLER H B COhistory →COM6.37%$52M858.8K
5BCORUSDBLUCORA INChistory →COM5.49%$44M2.30M
6LIVANOVA PLCSHS5.33%$43M850.0K
7TSAACI WORLDWIDE INChistory →COM5.16%$42M2.00M
8BCOBRINKS COhistory →COM4.77%$39M798.5K
9AQUAUSDEVOQUA WATER TECHNOLOGIES COhistory →COM4.63%$37M1.13M
10AVNTAVIENT CORPORATIONhistory →COM4.50%$36M1.20M
11TN1TENNANT COhistory →COM4.29%$35M614.6K
12OUTFRONT MEDIA INCCOM4.12%$33M2.20M
13MIRMIRION TECHNOLOGIES INChistory →COM CL A3.81%$31M4.13M
14SITESITEONE LANDSCAPE SUPPLY INChistory →COM3.09%$25M240.1K
152655957DPREMIER INChistory →CL A2.23%$18M532.2K
16BCBUSDPRIMO WATER CORPORATIONhistory →COM1.55%$13M1.00M
17NOTVQINOTIV INChistory →COM1.49%$12M715.7K
18ENVUSDENVESTNET INCCOM0.96%$8M175.0K
19UPLDEURUPLAND SOFTWARE INCCOM0.95%$8M950.0K

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 ↗.