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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
+3.27%
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
$876M
AUM Growth
-$36.1M
(-4%)
Cap. Flow
-$56.9M
Cap. Flow
% of AUM
-6.49%
Top 10 Holdings %
Top 10 Hldgs %
88.82%
Holding
18
New
–
Increased
8
Reduced
4
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CBIZ
CBZ
|
+$50.6M |
| 2 |
IAS
Integral Ad Science
IAS
|
+$26.7M |
| 3 |
Option Care Health
OPCH
|
+$14.9M |
| 4 |
Avient
AVNT
|
+$8.03M |
| 5 |
Tennant Co
TNC
|
+$7.42M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
RCM
R1 RCM Inc. Common Stock
RCM
|
+$67.8M |
| 2 |
SiteOne Landscape Supply
SITE
|
+$19.3M |
| 3 |
Mirion Technologies
MIR
|
+$14.2M |
| 4 |
The Ensign Group
ENSG
|
+$4.27M |
| 5 |
Blackbaud
BLKB
|
+$104K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 35.57% |
| 2 | Healthcare | 31.04% |
| 3 | Technology | 12.77% |
| 4 | Materials | 11.54% |
| 5 | Communication Services | 9.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
CBIZ
CBZ
$3B
| $121M | 13.83% |
1,800,532
+696,524
| +63% | +$50.6M |
|
|
2
Blackbaud
BLKB
$1.82B
| $112M | 12.77% |
1,320,251
-1,307
| -0.1% | -$104K |
|
3
Acadia Healthcare
ACHC
$2.62B
| $99.6M | 11.37% |
1,570,000
+60,000
| +4% | +$4.33M |
|
|
IAS
4
DELISTED
Integral Ad Science
IAS
| $79.5M | 9.08% |
7,354,317
+2,481,344
| +51% | +$26.7M |
|
|
JBTM
5
JBT Marel
JBTM
$7.31B
| $78.8M | 9% |
800,168
+50,000
| +7% | +$4.62M |
|
|
6
Tennant Co
TNC
$1.41B
| $69.9M | 7.98% |
727,391
+76,000
| +12% | +$7.42M |
|
|
7
Option Care Health
OPCH
$3.36B
| $60.9M | 6.95% |
1,945,000
+484,749
| +33% | +$14.9M |
|
8
LivaNova
LIVN
$4.45B
| $55.2M | 6.3% |
1,050,000
+100,000
| +11% | +$4.96M |
|
|
9
Avient
AVNT
$3.36B
| $52.6M | 6% |
1,044,835
+175,000
| +20% | +$8.03M |
|
10
H.B. Fuller
FUL
$2.98B
| $48.5M | 5.54% |
611,326
| – | – |
|
|
11
Mirion Technologies
MIR
$3.7B
| $37.1M | 4.23% |
3,350,000
-1,351,000
| -29% | -$14.2M |
|
|
12
The Ensign Group
ENSG
$10.4B
| $33.1M | 3.78% |
230,000
-30,000
| -12% | -$4.27M |
|
13
Enovis
ENOV
$1.69B
| $19.8M | 2.26% |
460,000
| – | – |
|
|
14
SiteOne Landscape Supply
SITE
$4.15B
| $4.62M | 0.53% |
30,592
-140,505
| -82% | -$19.3M |
|
15
Sotera Health
SHC
$5.09B
| $3.34M | 0.38% |
200,000
| – | – |
|
|
IAS
16
CALL
DELISTED
Integral Ad Science
IAS
| – | – |
-500,000
| Closed | -$4.86M |
|
|
RCM
17
DELISTED
R1 RCM Inc. Common Stock
RCM
| – | – |
-5,400,000
| Closed | -$67.8M |
|
|
RCM
18
PUT
DELISTED
R1 RCM Inc. Common Stock
RCM
| – | – |
-5,400,000
| Closed | -$67.8M |
|
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P2 Capital Partners's Q3 2024 Portfolio in Review
As of Q3 2024, P2 Capital Partners held 18 positions worth $876M, down 4% from $912M the previous quarter. Its ten largest holdings account for 89% of the portfolio.
P2 Capital Partners withdrew a net $56.9M in Q3 2024, closing 3 positions and reducing 4 holdings. Its most notable exit was R1 RCM Inc. Common Stock, an estimated $67.8M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 36% of assets, down from 39% a quarter earlier, followed by Healthcare and Technology.
Against the trend, P2 Capital Partners added an estimated $50.6M to CBIZ.
- P2 Capital Partners added most to CBIZ in Q3 2024, an estimated $50.6M increase.
- P2 Capital Partners's biggest Q3 2024 reduction was SiteOne Landscape Supply, cutting an estimated $19.3M.
- P2 Capital Partners fully exited R1 RCM Inc. Common Stock in Q3 2024, selling an estimated $67.8M.
- P2 Capital Partners's ten largest holdings make up 89% of its $876M portfolio in Q3 2024.
- P2 Capital Partners opened 0 new positions and closed 3 in Q3 2024.
- P2 Capital Partners's portfolio value fell 4% quarter-over-quarter to $876M.
Based on P2 Capital Partners's 13F filing for Q3 2024, filed 14 Nov 2024.