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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
+14.14%
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
$756M
AUM Growth
-$54M
Cap. Flow
-$145M
Cap. Flow %
-19.15%
Top 10 Hldgs %
88.12%
Holding
20
New
1
Increased
3
Reduced
3
Closed
5

Top Buys

Rank Stock Value
1
BLKB icon
Blackbaud
BLKB
+$15.8M
2
MIR icon
Mirion Technologies
MIR
+$9.41M
3
RCM
R1 RCM Inc. Common Stock
RCM
+$7.15M
4
SITE icon
SiteOne Landscape Supply
SITE
+$5.38M

Top Sells

Rank Stock Value
1
ACIW icon
ACI Worldwide
ACIW
+$41.8M
2
BCO icon
Brink's
BCO
+$38.7M
3
CBZ icon
CBIZ
CBZ
+$34.5M
4
ACHC icon
Acadia Healthcare
ACHC
+$19M
5
OUT icon
Outfront Media
OUT
+$16.3M

Sector Composition

Rank Sector Weight
1 Industrials 39.54%
2 Healthcare 23.61%
3 Materials 13.5%
4 Technology 12.84%
5 Financials 7.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBZ icon
1
CBIZ
CBZ
$3B
$129M 17.09%
2,759,595
-726,436
-21% -$34.5M
ACHC icon
2
Acadia Healthcare
ACHC
$2.62B
$113M 14.91%
1,370,000
-230,000
-14% -$19M
BLKB icon
3
Blackbaud
BLKB
$1.82B
$97.1M 12.84%
1,650,000
+282,655
+21% +$15.8M
FUL icon
4
H.B. Fuller
FUL
$2.98B
$61.5M 8.13%
858,813
– –
AVTA
5
DELISTED
Avantax, Inc. Common Stock
AVTA
$58.7M 7.76%
2,300,000
– –
LIVN icon
6
LivaNova
LIVN
$4.45B
$47.2M 6.24%
850,000
– –
AQUA
7
DELISTED
Evoqua Water Technologies Corp. Common Stock
AQUA
$44.9M 5.93%
1,133,375
– –
AVNT icon
8
Avient
AVNT
$3.36B
$40.6M 5.37%
1,202,435
– –
TNC icon
9
Tennant Co
TNC
$1.41B
$37.8M 5%
614,583
– –
MIR icon
10
Mirion Technologies
MIR
$3.7B
$36.5M 4.83%
5,526,935
+1,398,510
+34% +$9.41M
SITE icon
11
SiteOne Landscape Supply
SITE
$4.15B
$33.6M 4.44%
286,211
+46,155
+19% +$5.38M
OUT icon
12
Outfront Media
OUT
$5.62B
$20.7M 2.74%
1,269,969
-965,177
-43% -$16.3M
PINC
13
DELISTED
Premier
PINC
$18.6M 2.46%
532,201
– –
ENV
14
DELISTED
ENVESTNET, INC.
ENV
$10.8M 1.43%
175,000
– –
RCM
15
DELISTED
R1 RCM Inc. Common Stock
RCM
$6.17M 0.82%
+563,269
New +$7.15M
ACIW icon
16
ACI Worldwide
ACIW
$5.86B
– –
-2,001,962
Closed -$41.8M
BCO icon
17
Brink's
BCO
$4.84B
– –
-798,533
Closed -$38.7M
NOTV
18
DELISTED
Inotiv
NOTV
– –
-715,705
Closed -$12.1M
UPLD icon
19
Upland Software
UPLD
$13.6M
– –
-95,000
Closed -$7.72M
PRMW
20
DELISTED
Primo Water Corporation
PRMW
– –
-1,000,000
Closed -$12.6M

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 Q4 2022 Portfolio in Review

As of Q4 2022, P2 Capital Partners held 20 positions worth $756M, down 6.7% from $810M the previous quarter. Its ten largest holdings account for 88% of the portfolio.

P2 Capital Partners withdrew a net $145M in Q4 2022, closing 5 positions and reducing 3 holdings. Its most notable exit was ACI Worldwide, an estimated $41.8M position sold in full.

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

Against the trend, P2 Capital Partners opened a new position in R1 RCM Inc. Common Stock worth $6.17M.

  • P2 Capital Partners's largest Q4 2022 buy was R1 RCM Inc. Common Stock: 563,269 shares worth $6.17M.
  • P2 Capital Partners added most to Blackbaud in Q4 2022, an estimated $15.8M increase.
  • P2 Capital Partners's biggest Q4 2022 reduction was CBIZ, cutting an estimated $34.5M.
  • P2 Capital Partners fully exited ACI Worldwide in Q4 2022, selling an estimated $41.8M.
  • P2 Capital Partners's ten largest holdings make up 88% of its $756M portfolio in Q4 2022.
  • P2 Capital Partners opened 1 new position and closed 5 in Q4 2022.
  • P2 Capital Partners's portfolio value fell 6.7% quarter-over-quarter to $756M.

Based on P2 Capital Partners's 13F filing for Q4 2022, filed 23 Feb 2023.