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PCP

P2 Capital Partners Portfolio holdings

AUM $210M
1-Year Est. Return 1.23%
This Fund
S&P 500
This Quarter Est. Return
+6.47%
1 Year Est. Return
-1.23%
3 Year Est. Return
-0.1%
5 Year Est. Return
+17.4%
10 Year Est. Return
+173.91%
AUM
$986M
AUM Growth
-$42.4M
Cap. Flow
-$114M
Cap. Flow %
-11.58%
Top 10 Hldgs %
77.37%
Holding
19
New
4
Increased
8
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
MD icon
Pediatrix Medical
MD
+$86.1M
2
BCO icon
Brink's
BCO
+$39.8M
3
FUL icon
H.B. Fuller
FUL
+$28.6M
4
NXST icon
Nexstar Media Group
NXST
+$27.7M
5
GRPN icon
Groupon
GRPN
+$20.8M

Top Sells

Rank Stock Value
1
HAWK
Blackhawk Network Holdings, Inc. Common Stock
HAWK
+$134M
2
ILG
ILG, Inc Common Stock
ILG
+$109M
3
STMP
Stamps.com, Inc.
STMP
+$72.3M
4
ACHC icon
Acadia Healthcare
ACHC
+$41.2M
5
MITL
Mitel Networks Corporation
MITL
+$32.1M

Sector Composition

Rank Sector Weight
1 Communication Services 23.67%
2 Technology 21.79%
3 Industrials 20.41%
4 Healthcare 17.55%
5 Consumer Staples 5.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NXST icon
1
Nexstar Media Group
NXST
$5.88B
$167M 16.94%
2,275,429
+410,100
+22% +$27.7M
ACHC icon
2
Acadia Healthcare
ACHC
$2.62B
$95.2M 9.66%
2,327,961
-1,022,039
-31% -$41.2M
ACIW icon
3
ACI Worldwide
ACIW
$5.86B
$91.8M 9.31%
3,719,653
+838,832
+29% +$20.4M
MD icon
4
Pediatrix Medical
MD
$2.17B
$77.7M 7.89%
+1,796,129
New +$86.1M
CBZ icon
5
CBIZ
CBZ
$3B
$62M 6.29%
2,694,902
– –
EBIX
6
DELISTED
Ebix Inc
EBIX
$57.2M 5.8%
750,000
+217,400
+41% +$16.7M
MMS icon
7
Maximus
MMS
$3.19B
$55.4M 5.62%
891,300
+166,300
+23% +$10.8M
GRPN icon
8
Groupon
GRPN
$1.06B
$53.7M 5.45%
624,715
+224,715
+56% +$20.8M
PRMW
9
DELISTED
Primo Water Corporation
PRMW
$52M 5.27%
3,140,000
– –
STMP
10
DELISTED
Stamps.com, Inc.
STMP
$50.6M 5.13%
200,000
-300,000
-60% -$72.3M
SP
11
DELISTED
SP Plus Corporation
SP
$41.9M 4.25%
1,127,218
+5,400
+0.5% +$198K
BCO icon
12
Brink's
BCO
$4.84B
$41.9M 4.25%
+525,404
New +$39.8M
NTCT icon
13
NETSCOUT
NTCT
$2.91B
$32.9M 3.34%
1,108,363
+38,363
+4% +$1.07M
MITL
14
DELISTED
Mitel Networks Corporation
MITL
$32.9M 3.34%
3,000,000
-3,000,000
-50% -$32.1M
BFYT
15
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
$31.3M 3.18%
968,730
+333,730
+53% +$10.2M
FUL icon
16
H.B. Fuller
FUL
$2.98B
$29.5M 3%
+550,000
New +$28.6M
QUOT
17
DELISTED
Quotient Technology Inc
QUOT
$12.6M 1.28%
+960,000
New +$12.8M
ILG
18
DELISTED
ILG, Inc Common Stock
ILG
– –
-3,519,340
Closed -$109M
HAWK
19
DELISTED
Blackhawk Network Holdings, Inc. Common Stock
HAWK
– –
-3,000,000
Closed -$134M

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R.W. Roge & Company Bohemia, New York $210M AUM 18.75% 1-Year Est. Return
TP
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GHP
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BSCCG
Blue Sky Capital Consultants Group Poway, California $210M AUM 28.65% 1-Year Est. Return
CAM
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ESC
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FSA
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WI
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P2 Capital Partners's Q2 2018 Portfolio in Review

As of Q2 2018, P2 Capital Partners held 19 positions worth $986M, down 4.1% from $1.03B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

P2 Capital Partners withdrew a net $114M in Q2 2018, closing 2 positions and reducing 3 holdings. Its most notable exit was Blackhawk Network Holdings, Inc. Common Stock, an estimated $134M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 24% of assets, up from 15% a quarter earlier, followed by Technology and Industrials.

Against the trend, P2 Capital Partners opened a new position in Pediatrix Medical worth $77.7M.

  • P2 Capital Partners's largest Q2 2018 buy was Pediatrix Medical: 1,796,129 shares worth $77.7M.
  • P2 Capital Partners added most to Nexstar Media Group in Q2 2018, an estimated $27.7M increase.
  • P2 Capital Partners's biggest Q2 2018 reduction was Stamps.com, Inc., cutting an estimated $72.3M.
  • P2 Capital Partners fully exited Blackhawk Network Holdings, Inc. Common Stock in Q2 2018, selling an estimated $134M.
  • P2 Capital Partners's ten largest holdings make up 77% of its $986M portfolio in Q2 2018.
  • P2 Capital Partners opened 4 new positions and closed 2 in Q2 2018.
  • P2 Capital Partners's portfolio value fell 4.1% quarter-over-quarter to $986M.

Based on P2 Capital Partners's 13F filing for Q2 2018, filed 14 Aug 2018.