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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
-2.62%
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
$522M
AUM Growth
+$7.3M
Cap. Flow
+$1.77M
Cap. Flow %
0.34%
Top 10 Hldgs %
87.85%
Holding
14
New
2
Increased
4
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
MSA icon
Mine Safety
MSA
+$22.1M
2
ZETA icon
Zeta Global
ZETA
+$12.9M
3
ENOV icon
Enovis
ENOV
+$9.5M
4
BLKB icon
Blackbaud
BLKB
+$2.78M
5
IAS
Integral Ad Science
IAS
+$763K

Top Sells

Rank Stock Value
1
FUL icon
H.B. Fuller
FUL
+$16M
2
HSIC icon
Henry Schein
HSIC
+$12.8M
3
CBZ icon
CBIZ
CBZ
+$8.01M
4
JBTM
JBT Marel
JBTM
+$5.43M
5
AVNT icon
Avient
AVNT
+$1.62M

Sector Composition

Rank Sector Weight
1 Industrials 49.36%
2 Healthcare 22.7%
3 Technology 11.07%
4 Communication Services 7.81%
5 Miscellaneous 5.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBZ icon
1
CBIZ
CBZ
$2.96B
$130M 24.79%
1,806,308
-110,755
-6% -$8.01M
JBTM
2
JBT Marel
JBTM
$6.14B
$65.5M 12.54%
544,952
-48,606
-8% -$5.43M
ACHC icon
3
Acadia Healthcare
ACHC
$2.66B
$48.6M 9.3%
2,142,188
– –
IAS
4
DELISTED
Integral Ad Science
IAS
$40.8M 7.81%
4,910,000
+100,000
+2% +$763K
TNC icon
5
Tennant Co
TNC
$1.19B
$39.1M 7.49%
504,950
-12,128
-2% -$896K
BLKB icon
6
Blackbaud
BLKB
$2.21B
$31.5M 6.03%
490,754
+44,495
+10% +$2.78M
HSIC icon
7
Henry Schein
HSIC
$9.98B
$27.5M 5.27%
376,786
-186,000
-33% -$12.8M
ZETA icon
8
Zeta Global
ZETA
$7.67B
$26.3M 5.04%
1,700,000
+975,000
+134% +$12.9M
ZETA icon
9
PUT
Zeta Global
ZETA
$7.67B
$26.3M 5.04%
+1,700,000
New +$22.6M
MSA icon
10
Mine Safety
MSA
$7.34B
$23.7M 4.53%
+141,343
New +$22.1M
LIVN icon
11
LivaNova
LIVN
$4.43B
$23.1M 4.43%
513,902
-39,000
-7% -$1.61M
AVNT icon
12
Avient
AVNT
$4.1B
$21M 4.02%
649,934
-46,933
-7% -$1.62M
ENOV icon
13
Enovis
ENOV
$1.44B
$19.4M 3.7%
617,149
+287,149
+87% +$9.5M
FUL icon
14
H.B. Fuller
FUL
$3.03B
– –
-284,442
Closed -$16M

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P2 Capital Partners's Q2 2025 Portfolio in Review

As of Q2 2025, P2 Capital Partners held 14 positions worth $522M, up 1.4% from $515M the previous quarter. Its ten largest holdings account for 88% of the portfolio.

P2 Capital Partners's Q2 2025 filing shows 2 new, 4 increased, 6 reduced and 1 closed positions. Its largest new stake was Mine Safety: 141,343 shares worth $23.7M. The largest sale was H.B. Fuller, an estimated $16M.

By sector, the portfolio is most concentrated in Industrials at 49% of assets, down from 50% a quarter earlier, followed by Healthcare and Technology.

  • P2 Capital Partners's largest Q2 2025 buy was Mine Safety: 141,343 shares worth $23.7M.
  • P2 Capital Partners added most to Zeta Global in Q2 2025, an estimated $12.9M increase.
  • P2 Capital Partners's biggest Q2 2025 reduction was Henry Schein, cutting an estimated $12.8M.
  • P2 Capital Partners fully exited H.B. Fuller in Q2 2025, selling an estimated $16M.
  • P2 Capital Partners's ten largest holdings make up 88% of its $522M portfolio in Q2 2025.
  • P2 Capital Partners opened 2 new positions and closed 1 in Q2 2025.
  • P2 Capital Partners's portfolio value rose 1.4% quarter-over-quarter to $522M.

Based on P2 Capital Partners's 13F filing for Q2 2025, filed 14 Aug 2025.