SEC 13F Intelligence

Managers / Q2 2025 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$522M
Q2 2025
Positions
13
Filings on Record
30
2019–present window
Filed
Aug 14, 2025
original filing

Summary

P2 Capital Partners, LLC reported $522M in U.S.-listed holdings across 13 positions for Q2 2025.

The portfolio is heavily concentrated: CBZ alone accounts for 24.8% of reported value.

Compared with Q1 2025, the fund opened 1 new position and exited 1.

Portfolio Metrics

Turnover
+14.1%
vs prior filed quarter
Top-10 Concentration
+87.2%
share of reported value
Largest Position
+24.8%
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: 95.6%Other: 4.4%
  • Common Stock · 95.6% · $499M
  • Other · 4.4% · $23M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MSAMSA SAFETY INCNEW+141.3K141.3K+$24M$24M
ZETAZETA GLOBAL HOLDINGS CORPADDED+2.67M3.40M+$43M$53M
FULFULLER H B COSOLD OUT−284.4K0−$16M$0
ENOVENOVIS CORPORATIONADDED+287.1K617.1K+$7M$19M
HSICHENRY SCHEIN INCTRIMMED−186.0K376.8K−$11M$28M
BLKBBLACKBAUD INCADDED+44.5K490.8K+$4M$32M
JBTJBT MAREL CORPORATIONTRIMMED−48.6K545.0K−$7M$66M
LIVANOVA PLCTRIMMED−39.0K513.9K+$1M$23M

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

Holdings — Q2 2025

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBZCBIZ INChistory →COM24.79%$130M1.81M
2JBTJBT MAREL CORPORATIONhistory →COM12.54%$66M545.0K
3ACHCACADIA HEALTHCARE COMPANY INhistory →COM9.30%$49M2.14M
4IASINTEGRAL AD SCIENCE HLDNG COhistory →COM7.81%$41M4.91M
5TN1TENNANT COhistory →COM7.49%$39M504.9K
6BLKBBLACKBAUD INChistory →COM6.03%$32M490.8K
7HSICHENRY SCHEIN INChistory →COM5.27%$28M376.8K
8ZETAZETA GLOBAL HOLDINGS CORPhistory →CL A5.04%$26M1.70M
9MSAMSA SAFETY INChistory →COM4.53%$24M141.3K
10LIVANOVA PLCSHS4.43%$23M513.9K
11AVNTAVIENT CORPORATIONhistory →COM4.02%$21M649.9K
12ENOVENOVIS CORPORATIONhistory →COM3.70%$19M617.1K

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 ↗.