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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
+10.74%
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
$1.51B
AUM Growth
+$33.5M
(+2.3%)
Cap. Flow
-$98.4M
Cap. Flow
% of AUM
-6.53%
Top 10 Holdings %
Top 10 Hldgs %
71.53%
Holding
23
New
5
Increased
5
Reduced
5
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$52.5M |
| 2 |
VG
Vonage Holdings Corporation
VG
|
+$40.3M |
| 3 |
AVTA
Avantax, Inc. Common Stock
AVTA
|
+$38.6M |
| 4 |
CSOD
Cornerstone OnDemand, Inc.
CSOD
|
+$22.8M |
| 5 |
Upland Software
UPLD
|
+$22.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CHNG
Change Healthcare Inc. Common Stock
CHNG
|
+$112M |
| 2 |
Pediatrix Medical
MD
|
+$73.6M |
| 3 |
EBIX
Ebix Inc
EBIX
|
+$41.6M |
| 4 |
Acadia Healthcare
ACHC
|
+$40.3M |
| 5 |
Hilton Grand Vacations
HGV
|
+$29.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 34.41% |
| 2 | Materials | 10.86% |
| 3 | Healthcare | 9.83% |
| 4 | Technology | 8.47% |
| 5 | Communication Services | 8.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Brink's
BCO
$4.84B
| $156M | 10.34% |
1,967,632
| – | – |
|
|
2
Acadia Healthcare
ACHC
$2.62B
| $145M | 9.59% |
2,529,442
-745,036
| -23% | -$40.3M |
|
|
CSOD
3
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| $121M | 8.04% |
2,779,782
+495,256
| +22% | +$22.8M |
|
4
CBIZ
CBZ
$3B
| $114M | 7.55% |
3,486,031
| – | – |
|
|
PRMW
5
DELISTED
Primo Water Corporation
PRMW
| $107M | 7.12% |
6,603,472
+585,566
| +10% | +$9.41M |
|
6
H.B. Fuller
FUL
$2.98B
| $97.4M | 6.46% |
1,548,014
| – | – |
|
|
CDK
7
DELISTED
CDK Global, Inc.
CDK
| $90.1M | 5.98% |
1,667,529
| – | – |
|
|
AQUA
8
DELISTED
Evoqua Water Technologies Corp. Common Stock
AQUA
| $85.6M | 5.68% |
3,255,930
-286,747
| -8% | -$7.64M |
|
9
Nexstar Media Group
NXST
$5.88B
| $84.6M | 5.62% |
602,712
-123,104
| -17% | -$16.1M |
|
10
ACI Worldwide
ACIW
$5.86B
| $77.5M | 5.14% |
2,036,920
-163,080
| -7% | -$6.43M |
|
11
Avient
AVNT
$3.36B
| $66.3M | 4.4% |
1,401,647
+396,800
| +39% | +$17.7M |
|
|
12
Hilton Grand Vacations
HGV
$3.64B
| $63.6M | 4.22% |
1,696,563
-831,484
| -33% | -$29.9M |
|
13
KBR
KBR
$4.36B
| $58.4M | 3.87% |
1,520,821
+249,186
| +20% | +$7.95M |
|
|
14
iShares Russell 2000 ETF
IWM
$80.2B
| $53.1M | 3.53% |
+240,564
| New | +$52.5M |
|
|
15
Upland Software
UPLD
$13.6M
| $50.2M | 3.33% |
106,308
+46,508
| +78% | +$22.4M |
|
16
Outfront Media
OUT
$5.62B
| $44.3M | 2.94% |
2,060,603
| – | – |
|
|
AVTA
17
DELISTED
Avantax, Inc. Common Stock
AVTA
| $38.3M | 2.54% |
+2,300,000
| New | +$38.6M |
|
|
VG
18
DELISTED
Vonage Holdings Corporation
VG
| $36.6M | 2.43% |
+3,094,900
| New | +$40.3M |
|
19
Tennant Co
TNC
$1.41B
| $14.8M | 0.98% |
+185,000
| New | +$14M |
|
|
PINC
20
DELISTED
Premier
PINC
| $3.67M | 0.24% |
+108,463
| New | +$3.76M |
|
|
21
Pediatrix Medical
MD
$2.17B
| – | – |
-2,998,445
| Closed | -$73.6M |
|
|
CHNG
22
DELISTED
Change Healthcare Inc. Common Stock
CHNG
| – | – |
-6,021,209
| Closed | -$112M |
|
|
EBIX
23
DELISTED
Ebix Inc
EBIX
| – | – |
-1,096,720
| Closed | -$41.6M |
|
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P2 Capital Partners's Q1 2021 Portfolio in Review
As of Q1 2021, P2 Capital Partners held 23 positions worth $1.51B, up 2.3% from $1.47B the previous quarter. Its ten largest holdings account for 72% of the portfolio.
P2 Capital Partners withdrew a net $98.4M in Q1 2021, closing 3 positions and reducing 5 holdings. Its most notable exit was Change Healthcare Inc. Common Stock, an estimated $112M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 34% of assets, up from 31% a quarter earlier, followed by Materials and Healthcare.
Against the trend, P2 Capital Partners opened a new position in iShares Russell 2000 ETF worth $53.1M.
- P2 Capital Partners's largest Q1 2021 buy was iShares Russell 2000 ETF: 240,564 shares worth $53.1M.
- P2 Capital Partners added most to Cornerstone OnDemand, Inc. in Q1 2021, an estimated $22.8M increase.
- P2 Capital Partners's biggest Q1 2021 reduction was Acadia Healthcare, cutting an estimated $40.3M.
- P2 Capital Partners fully exited Change Healthcare Inc. Common Stock in Q1 2021, selling an estimated $112M.
- P2 Capital Partners's ten largest holdings make up 72% of its $1.51B portfolio in Q1 2021.
- P2 Capital Partners opened 5 new positions and closed 3 in Q1 2021.
- P2 Capital Partners's portfolio value rose 2.3% quarter-over-quarter to $1.51B.
Based on P2 Capital Partners's 13F filing for Q1 2021, filed 17 May 2021.