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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
-1.34%
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
$810M
AUM Growth
-$72.4M
Cap. Flow
-$55.1M
Cap. Flow %
-6.8%
Top 10 Hldgs %
77.52%
Holding
22
New
1
Increased
2
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
BLKB icon
Blackbaud
BLKB
+$35.2M
2
SITE icon
SiteOne Landscape Supply
SITE
+$30.1M
3
MIR icon
Mirion Technologies
MIR
+$3.84M

Top Sells

Rank Stock Value
1
HLLY icon
Holley
HLLY
+$48.6M
2
NOTV
Inotiv
NOTV
+$41M
3
ENV
ENVESTNET, INC.
ENV
+$14.1M
4
NXST icon
Nexstar Media Group
NXST
+$9.55M
5
LIVN icon
LivaNova
LIVN
+$5.94M

Sector Composition

Rank Sector Weight
1 Industrials 39.94%
2 Healthcare 24.48%
3 Technology 13.55%
4 Materials 10.87%
5 Financials 5.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBZ icon
1
CBIZ
CBZ
$3B
$149M 18.4%
3,486,031
– –
ACHC icon
2
Acadia Healthcare
ACHC
$2.62B
$125M 15.44%
1,600,000
-20,000
-1% -$1.6M
BLKB icon
3
Blackbaud
BLKB
$1.82B
$60.2M 7.43%
1,367,345
+653,774
+92% +$35.2M
FUL icon
4
H.B. Fuller
FUL
$2.98B
$51.6M 6.37%
858,813
– –
AVTA
5
DELISTED
Avantax, Inc. Common Stock
AVTA
$44.5M 5.49%
2,300,000
– –
LIVN icon
6
LivaNova
LIVN
$4.45B
$43.2M 5.33%
850,000
-100,000
-11% -$5.94M
ACIW icon
7
ACI Worldwide
ACIW
$5.86B
$41.8M 5.16%
2,001,962
– –
BCO icon
8
Brink's
BCO
$4.84B
$38.7M 4.77%
798,533
– –
AQUA
9
DELISTED
Evoqua Water Technologies Corp. Common Stock
AQUA
$37.5M 4.63%
1,133,375
– –
AVNT icon
10
Avient
AVNT
$3.36B
$36.4M 4.5%
1,202,435
– –
TNC icon
11
Tennant Co
TNC
$1.41B
$34.8M 4.29%
614,583
– –
OUT icon
12
Outfront Media
OUT
$5.62B
$33.4M 4.12%
2,235,146
– –
MIR icon
13
Mirion Technologies
MIR
$3.7B
$30.8M 3.81%
4,128,425
+545,354
+15% +$3.84M
SITE icon
14
SiteOne Landscape Supply
SITE
$4.15B
$25M 3.09%
+240,056
New +$30.1M
PINC
15
DELISTED
Premier
PINC
$18.1M 2.23%
532,201
– –
PRMW
16
DELISTED
Primo Water Corporation
PRMW
$12.6M 1.55%
1,000,000
– –
NOTV
17
DELISTED
Inotiv
NOTV
$12.1M 1.49%
715,705
-2,231,256
-76% -$41M
ENV
18
DELISTED
ENVESTNET, INC.
ENV
$7.77M 0.96%
175,000
-263,969
-60% -$14.1M
UPLD icon
19
Upland Software
UPLD
$13.6M
$7.72M 0.95%
95,000
– –
HLLY icon
20
Holley
HLLY
$326M
– –
-4,632,639
Closed -$48.6M
NXST icon
21
Nexstar Media Group
NXST
$5.88B
– –
-58,620
Closed -$9.55M
RDNT icon
22
RadNet
RDNT
$4.93B
– –
-200,000
Closed -$3.46M

Similar funds

RWRC
R.W. Roge & Company Bohemia, New York $210M AUM 18.75% 1-Year Est. Return
TP
Thayer Partners Wyndmoor, Pennsylvania $210M AUM
GHP
Great Hill Partners Boston, Massachusetts $210M AUM 134.81% 1-Year Est. Return
BSCCG
Blue Sky Capital Consultants Group Poway, California $210M AUM 28.65% 1-Year Est. Return
CAM
Chou Associates Management Toronto, Ontario, Canada $210M AUM 15.42% 1-Year Est. Return
ESC
Eurizon SLJ Capital London $210M AUM
FSA
Financial Services Advisory Rockville, Maryland $210M AUM 19.93% 1-Year Est. Return
WI
Westbourne Investments Arlington, Virginia $210M AUM 40.95% 1-Year Est. Return

P2 Capital Partners's Q3 2022 Portfolio in Review

As of Q3 2022, P2 Capital Partners held 22 positions worth $810M, down 8.2% from $883M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

P2 Capital Partners withdrew a net $55.1M in Q3 2022, closing 3 positions and reducing 4 holdings. Its most notable exit was Holley, an estimated $48.6M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 40% of assets, up from 35% a quarter earlier, followed by Healthcare and Technology.

Against the trend, P2 Capital Partners opened a new position in SiteOne Landscape Supply worth $25M.

  • P2 Capital Partners's largest Q3 2022 buy was SiteOne Landscape Supply: 240,056 shares worth $25M.
  • P2 Capital Partners added most to Blackbaud in Q3 2022, an estimated $35.2M increase.
  • P2 Capital Partners's biggest Q3 2022 reduction was Inotiv, cutting an estimated $41M.
  • P2 Capital Partners fully exited Holley in Q3 2022, selling an estimated $48.6M.
  • P2 Capital Partners's ten largest holdings make up 78% of its $810M portfolio in Q3 2022.
  • P2 Capital Partners opened 1 new position and closed 3 in Q3 2022.
  • P2 Capital Partners's portfolio value fell 8.2% quarter-over-quarter to $810M.

Based on P2 Capital Partners's 13F filing for Q3 2022, filed 14 Nov 2022.