SEC 13F Intelligence

Managers / Q1 2024 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$846M
Q1 2024
Positions
15
Filings on Record
30
2019–present window
Filed
May 15, 2024
original filing

Summary

P2 Capital Partners, LLC reported $846M in U.S.-listed holdings across 15 positions for Q1 2024.

Its largest position, CBZ, represents 13.0% of the portfolio.

Compared with Q4 2023, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+9.6%
vs prior filed quarter
Top-10 Concentration
+84.1%
share of reported value
Largest Position
+13.0%
Cbiz
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: 94.7%Other: 5.3%
  • Common Stock · 94.7% · $801M
  • Other · 5.3% · $45M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ENSGENSIGN GROUP INCNEW+230.0K230.0K+$29M$29M
IASINTEGRAL AD SCIENCE HLDNG COADDED+1.91M2.68M+$16M$27M
2655957DPREMIER INCSOLD OUT−532.2K0−$12M$0
OPCHOPTION CARE HEALTH INCADDED+309.5K695.9K+$10M$23M
R1 RCM INCTRIMMED−1.97M1.56M−$17M$20M
CBZCBIZ INCTRIMMED−1.10M1.40M−$46M$110M
SHCSOTERA HEALTH COADDED+600.0K2.95M−$4M$35M
SITESITEONE LANDSCAPE SUPPLY INCTRIMMED−80.9K255.3K−$10M$45M

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

Holdings — Q1 2024

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBZCBIZ INChistory →COM12.98%$110M1.40M
2ACHCACADIA HEALTHCARE COMPANY INhistory →COM12.17%$103M1.30M
3BLKBBLACKBAUD INChistory →COM11.58%$98M1.32M
4TN1TENNANT COhistory →COM9.36%$79M651.4K
5JBTJOHN BEAN TECHNOLOGIES CORPhistory →COM8.08%$68M651.4K
6MIRMIRION TECHNOLOGIES INChistory →COM CL A7.42%$63M5.52M
7FULFULLER H B COhistory →COM6.12%$52M649.7K
8AVNTAVIENT CORPORATIONhistory →COM5.84%$49M1.14M
9LIVANOVA PLCSHS5.29%$45M800.0K
10SITESITEONE LANDSCAPE SUPPLY INChistory →COM5.27%$45M255.3K
11SHCSOTERA HEALTH COhistory →COM4.19%$35M2.95M
12ENSGENSIGN GROUP INChistory →COM3.38%$29M230.0K
13IASINTEGRAL AD SCIENCE HLDNG COhistory →COM3.16%$27M2.68M
14OPCHOPTION CARE HEALTH INChistory →COM NEW2.76%$23M695.9K
15R1 RCM INCCOM2.38%$20M1.56M

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 ↗.