SEC 13F Intelligence

Managers / Q4 2022 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$756M
Q4 2022
Positions
15
Filings on Record
30
2019–present window
Filed
Feb 23, 2023
original filing

Summary

P2 Capital Partners, LLC reported $756M in U.S.-listed holdings across 15 positions for Q4 2022.

Its largest position, CBZ, represents 17.1% of the portfolio.

Compared with Q3 2022, the fund opened 1 new position and exited 5.

Portfolio Metrics

Turnover
+13.2%
vs prior filed quarter
Top-10 Concentration
+88.1%
share of reported value
Largest Position
+17.1%
Cbiz
New / Exited
1 / 5
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: 91.0%Other: 9.0%
  • Common Stock · 91.0% · $688M
  • Other · 9.0% · $68M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
R1 RCM INCNEW+563.3K563.3K+$6M$6M
TSAACI WORLDWIDE INCSOLD OUT−2.00M0−$42M$0
BCOBRINKS COSOLD OUT−798.5K0−$39M$0
BCBUSDPRIMO WATER CORPORATIONSOLD OUT−1.00M0−$13M$0
NOTVQINOTIV INCSOLD OUT−715.7K0−$12M$0
UPLDEURUPLAND SOFTWARE INCSOLD OUT−950.0K0−$8M$0
OUTFRONT MEDIA INCTRIMMED−950.0K1.25M−$13M$21M
MIRMIRION TECHNOLOGIES INCADDED+1.40M5.53M+$6M$37M

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

Holdings — Q4 2022

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBZCBIZ INChistory →COM17.09%$129M2.76M
2ACHCACADIA HEALTHCARE COMPANY INhistory →COM14.91%$113M1.37M
3BLKBBLACKBAUD INChistory →COM12.84%$97M1.65M
4FULFULLER H B COhistory →COM8.13%$62M858.8K
5BCORUSDBLUCORA INChistory →COM7.76%$59M2.30M
6LIVANOVA PLCSHS6.24%$47M850.0K
7AQUAUSDEVOQUA WATER TECHNOLOGIES COhistory →COM5.93%$45M1.13M
8AVNTAVIENT CORPORATIONhistory →COM5.37%$41M1.20M
9TN1TENNANT COhistory →COM5.00%$38M614.6K
10MIRMIRION TECHNOLOGIES INChistory →COM CL A4.83%$37M5.53M
11SITESITEONE LANDSCAPE SUPPLY INChistory →COM4.44%$34M286.2K
12OUTFRONT MEDIA INCCOM2.74%$21M1.25M
132655957DPREMIER INChistory →CL A2.46%$19M532.2K
14ENVUSDENVESTNET INChistory →COM1.43%$11M175.0K
15R1 RCM INCCOM0.82%$6M563.3K

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 ↗.