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PCP

P2 Capital Partners Portfolio holdings

AUM $246M
1-Year Est. Return 17.67%
This Fund
S&P 500
This Quarter Est. Return
-7.15%
1 Year Est. Return
+17.67%
3 Year Est. Return
+7.96%
5 Year Est. Return
+28.62%
10 Year Est. Return
+203.67%
AUM
$764M
AUM Growth
-$95M
Cap. Flow
-$41M
Cap. Flow %
-5.37%
Top 10 Hldgs %
89.15%
Holding
16
New
1
Increased
3
Reduced
1
Closed
2

Top Buys

Rank Stock Value
1
SHC icon
Sotera Health
SHC
+$11.8M
2
MIR icon
Mirion Technologies
MIR
+$7.75M
3
JBTM
JBT Marel
JBTM
+$7.17M

Top Sells

Rank Stock Value
1
AVTA
Avantax, Inc. Common Stock
AVTA
+$51.5M
2
ENV
ENVESTNET, INC.
ENV
+$10.4M
3
CBZ icon
CBIZ
CBZ
+$5.91M

Sector Composition

Rank Sector Weight
1 Industrials 46.24%
2 Healthcare 23.61%
3 Technology 16.1%
4 Materials 13.27%
5 Miscellaneous 0.78%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBZ icon
1
CBIZ
CBZ
$2.96B
$134M 17.52%
2,579,219
-109,745
-4% -$5.91M
BLKB icon
2
Blackbaud
BLKB
$2.03B
$123M 16.1%
1,750,000
– –
ACHC icon
3
Acadia Healthcare
ACHC
$2.62B
$96.3M 12.6%
1,370,000
– –
FUL icon
4
H.B. Fuller
FUL
$2.73B
$58.9M 7.71%
858,813
– –
TNC icon
5
Tennant Co
TNC
$1.16B
$52.8M 6.9%
711,530
– –
SITE icon
6
SiteOne Landscape Supply
SITE
$3.86B
$46.8M 6.12%
286,211
– –
LIVN icon
7
LivaNova
LIVN
$4.33B
$44.9M 5.88%
850,000
– –
AVNT icon
8
Avient
AVNT
$3.75B
$42.5M 5.56%
1,202,435
– –
JBTM
9
JBT Marel
JBTM
$5.78B
$42.1M 5.51%
400,201
+64,101
+19% +$7.17M
MIR icon
10
Mirion Technologies
MIR
$3.85B
$40.1M 5.25%
5,372,708
+983,137
+22% +$7.75M
RCM
11
DELISTED
R1 RCM Inc. Common Stock
RCM
$37.8M 4.94%
2,505,017
– –
SHC icon
12
Sotera Health
SHC
$5.52B
$27.7M 3.63%
1,850,000
+700,000
+61% +$11.8M
PINC
13
DELISTED
Premier
PINC
$11.4M 1.5%
532,201
– –
RCM
14
PUT
DELISTED
R1 RCM Inc. Common Stock
RCM
$5.98M 0.78%
+2,500,000
New +$42.1M
AVTA
15
DELISTED
Avantax, Inc. Common Stock
AVTA
– –
-2,300,000
Closed -$51.5M
ENV
16
DELISTED
ENVESTNET, INC.
ENV
– –
-175,000
Closed -$10.4M

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SFB
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LFC
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KG
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AWM
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WCM
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P2 Capital Partners's Q3 2023 Portfolio in Review

As of Q3 2023, P2 Capital Partners held 16 positions worth $764M, down 11% from $859M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

P2 Capital Partners withdrew a net $41M in Q3 2023, closing 2 positions and reducing 1 holding. Its most notable exit was Avantax, Inc. Common Stock, an estimated $51.5M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 46% of assets, up from 45% a quarter earlier, followed by Healthcare and Technology.

Against the trend, P2 Capital Partners added an estimated $11.8M to Sotera Health.

  • P2 Capital Partners added most to Sotera Health in Q3 2023, an estimated $11.8M increase.
  • P2 Capital Partners's biggest Q3 2023 reduction was CBIZ, cutting an estimated $5.91M.
  • P2 Capital Partners fully exited Avantax, Inc. Common Stock in Q3 2023, selling an estimated $51.5M.
  • P2 Capital Partners's ten largest holdings make up 89% of its $764M portfolio in Q3 2023.
  • P2 Capital Partners opened 1 new position and closed 2 in Q3 2023.
  • P2 Capital Partners's portfolio value fell 11% quarter-over-quarter to $764M.

Based on P2 Capital Partners's 13F filing for Q3 2023, filed 14 Nov 2023.