SEC 13F Intelligence

Managers / Q4 2025 · view latest →

P2 Capital Partners, LLC

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

Reported Value
$390M
Q4 2025
Positions
10
Filings on Record
30
2019–present window
Filed
Feb 17, 2026
original filing

Summary

P2 Capital Partners, LLC reported $390M in U.S.-listed holdings across 10 positions for Q4 2025.

The portfolio is heavily concentrated: CBZ alone accounts for 22.9% of reported value.

Compared with Q3 2025, the fund opened 0 new positions and exited 2.

Portfolio Metrics

Turnover
+4.1%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+22.9%
Cbiz

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: 92.2%Other: 7.8%
  • Common Stock · 92.2% · $360M
  • Other · 7.8% · $30M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ACHCACADIA HEALTHCARE COMPANY INSOLD OUT−2.34M0−$58M$0
IASINTEGRAL AD SCIENCE HLDNG COSOLD OUT−4.83M0−$49M$0
ZETAZETA GLOBAL HOLDINGS CORPTRIMMED−1.70M1.70M−$33M$35M
MSAMSA SAFETY INCADDED+49.3K185.7K+$6M$30M
CBZCBIZ INCHELD+57.1K1.77M−$1M$89M
JBTJBT MAREL CORPORATIONHELD+0450.0K+$5M$68M
LIVANOVA PLCHELD+0493.9K+$5M$30M
TN1TENNANT COHELD+0484.9K−$4M$36M

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

Holdings — Q4 2025

10 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CBZCBIZ INChistory →COM22.92%$89M1.77M
2JBTJBT MAREL CORPORATIONhistory →COM17.37%$68M450.0K
3BLKBBLACKBAUD INChistory →COM10.22%$40M630.3K
4TN1TENNANT COhistory →COM9.16%$36M484.9K
5ZETAZETA GLOBAL HOLDINGS CORPhistory →CL A8.86%$35M1.70M
6LIVANOVA PLCSHS7.79%$30M493.9K
7MSAMSA SAFETY INChistory →COM7.62%$30M185.7K
8HSICHENRY SCHEIN INChistory →COM7.00%$27M361.8K
9AVNTAVIENT CORPORATIONhistory →COM5.00%$20M624.9K
10ENOVENOVIS CORPORATIONhistory →COM4.06%$16M595.0K

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 ↗.