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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
+5.68%
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
$846M
AUM Growth
-$62.7M
(-6.9%)
Cap. Flow
-$95.1M
Cap. Flow
% of AUM
-11.24%
Top 10 Holdings %
Top 10 Hldgs %
84.13%
Holding
16
New
1
Increased
4
Reduced
10
Closed
1
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
The Ensign Group
ENSG
|
+$27.6M |
| 2 |
IAS
Integral Ad Science
IAS
|
+$25.4M |
| 3 |
Option Care Health
OPCH
|
+$10M |
| 4 |
JBTM
JBT Marel
JBTM
|
+$9.46M |
| 5 |
Sotera Health
SHC
|
+$8.93M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CBIZ
CBZ
|
+$76.2M |
| 2 |
Blackbaud
BLKB
|
+$25.3M |
| 3 |
RCM
R1 RCM Inc. Common Stock
RCM
|
+$22.9M |
| 4 |
SiteOne Landscape Supply
SITE
|
+$13.3M |
| 5 |
PINC
Premier
PINC
|
+$11.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 45.5% |
| 2 | Healthcare | 27.8% |
| 3 | Materials | 11.97% |
| 4 | Technology | 11.58% |
| 5 | Communication Services | 3.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CBIZ
CBZ
$3B
| $110M | 12.98% |
1,399,011
-1,096,186
| -44% | -$76.2M |
|
2
Acadia Healthcare
ACHC
$2.62B
| $103M | 12.17% |
1,300,000
-70,000
| -5% | -$5.72M |
|
|
3
Blackbaud
BLKB
$1.82B
| $98M | 11.58% |
1,321,558
-331,381
| -20% | -$25.3M |
|
4
Tennant Co
TNC
$1.41B
| $79.2M | 9.36% |
651,391
-60,139
| -8% | -$6.14M |
|
|
JBTM
5
JBT Marel
JBTM
$7.31B
| $68.3M | 8.08% |
651,442
+95,000
| +17% | +$9.46M |
|
6
Mirion Technologies
MIR
$3.7B
| $62.8M | 7.42% |
5,520,000
-327,122
| -6% | -$3.28M |
|
7
H.B. Fuller
FUL
$2.98B
| $51.8M | 6.12% |
649,735
-84,078
| -11% | -$6.58M |
|
8
Avient
AVNT
$3.36B
| $49.4M | 5.84% |
1,138,435
-64,000
| -5% | -$2.49M |
|
9
LivaNova
LIVN
$4.45B
| $44.8M | 5.29% |
800,000
-50,000
| -6% | -$2.6M |
|
|
10
SiteOne Landscape Supply
SITE
$4.15B
| $44.6M | 5.27% |
255,342
-80,869
| -24% | -$13.3M |
|
|
11
Sotera Health
SHC
$5.09B
| $35.4M | 4.19% |
2,950,000
+600,000
| +26% | +$8.93M |
|
|
12
The Ensign Group
ENSG
$10.4B
| $28.6M | 3.38% |
+230,000
| New | +$27.6M |
|
|
IAS
13
DELISTED
Integral Ad Science
IAS
| $26.7M | 3.16% |
2,680,000
+1,905,600
| +246% | +$25.4M |
|
|
14
Option Care Health
OPCH
$3.36B
| $23.3M | 2.76% |
695,946
+309,500
| +80% | +$10M |
|
|
RCM
15
DELISTED
R1 RCM Inc. Common Stock
RCM
| $20.2M | 2.38% |
1,565,000
-1,970,294
| -56% | -$22.9M |
|
|
PINC
16
DELISTED
Premier
PINC
| – | – |
-532,201
| Closed | -$11.9M |
|
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P2 Capital Partners's Q1 2024 Portfolio in Review
As of Q1 2024, P2 Capital Partners held 16 positions worth $846M, down 6.9% from $909M the previous quarter. Its ten largest holdings account for 84% of the portfolio.
P2 Capital Partners withdrew a net $95.1M in Q1 2024, closing 1 position and reducing 10 holdings. Its most notable exit was Premier, an estimated $11.9M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 45% of assets, down from 47% a quarter earlier, followed by Healthcare and Materials.
Against the trend, P2 Capital Partners opened a new position in The Ensign Group worth $28.6M.
- P2 Capital Partners's largest Q1 2024 buy was The Ensign Group: 230,000 shares worth $28.6M.
- P2 Capital Partners added most to Integral Ad Science in Q1 2024, an estimated $25.4M increase.
- P2 Capital Partners's biggest Q1 2024 reduction was CBIZ, cutting an estimated $76.2M.
- P2 Capital Partners fully exited Premier in Q1 2024, selling an estimated $11.9M.
- P2 Capital Partners's ten largest holdings make up 84% of its $846M portfolio in Q1 2024.
- P2 Capital Partners opened 1 new position and closed 1 in Q1 2024.
- P2 Capital Partners's portfolio value fell 6.9% quarter-over-quarter to $846M.
Based on P2 Capital Partners's 13F filing for Q1 2024, filed 15 May 2024.