Latest P2 Capital Partners, LLC Stock Portfolio

P2 Capital Partners, LLC Performance:

2025 Q3: 0.25%YTD: -13.99%2024: -3.56%

Performance for 2025 Q3 is 0.25%, and YTD is -13.99%, and 2024 is -3.56%.

About P2 Capital Partners, LLC and 13F Hedge Fund Stock Holdings

In it's latest 13F Holdings report, P2 Capital Partners, LLC reported an equity portfolio of $520.5 Millions as of 30 Sep, 2025.

The top stock holdings of P2 Capital Partners, LLC are CBZ, JBT, ACHC. The fund has invested 17.5% of it's portfolio in CBIZ INC and 12.1% of portfolio in JBT MAREL CORPORATION.

They significantly reduced their stock positions in JBT MAREL CORPORATION (JBT), CBIZ INC (CBZ) and HENRY SCHEIN INC (HSIC). The fund showed a lot of confidence in some stocks as they added substantially to BLACKBAUD INC (BLKB) and ACADIA HEALTHCARE COMPANY IN (ACHC).

P2 Capital Partners, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that P2 Capital Partners, LLC made a return of 0.25% in the last quarter. In trailing 12 months, it's portfolio return was -18.18%.

New Buys

No new stocks were added by P2 Capital Partners, LLC

Additions

Ticker	% Inc.
blackbaud inc	28.44
acadia healthcare company in	9.1

Additions to existing portfolio by P2 Capital Partners, LLC

Reductions

Ticker	% Reduced
jbt marel corporation	-17.43
cbiz inc	-4.98
henry schein inc	-3.98
tennant co	-3.96
livanova plc	-3.89
avient corporation	-3.85
enovis corporation	-3.59
msa safety inc	-3.54

P2 Capital Partners, LLC reduced stake in above stock

Sold off

None of the stocks were completely sold off by P2 Capital Partners, LLC

Sector Distribution

P2 Capital Partners, LLC has about 48.3% of it's holdings in Industrials sector.

Sector	%
Industrials	48.3
Healthcare	22.1
Technology	15.3
Communication Services	10.1
Basic Materials	4.2

Market Cap. Distribution

P2 Capital Partners, LLC has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	81.8
SMALL-CAP	18.2

Stocks belong to which Index?

About 79.5% of the stocks held by P2 Capital Partners, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	74.6
Others	20.4
S&P 500	4.9

Top 5 Winners (%)		%
ZETA	zeta global holdings corp	28.3 %
IAS	integral ad science hldng co	22.4 %
LIVN	livanova plc	16.4 %
JBT	jbt marel corporation	16.1 %
ACHC	acadia healthcare company in	8.3 %

Top 5 Winners ($)		$
JBT	jbt marel corporation	10.6 M
IAS	integral ad science hldng co	9.1 M
ZETA	zeta global holdings corp	7.4 M
ACHC	acadia healthcare company in	4.4 M
LIVN	livanova plc	3.8 M

Top 5 Losers (%)		%
CBZ	cbiz inc	-26.1 %
HSIC	henry schein inc	-9.1 %
ENOV	enovis corporation	-3.3 %

Top 5 Losers ($)		$
CBZ	cbiz inc	-33.9 M
HSIC	henry schein inc	-2.5 M
ENOV	enovis corporation	-0.6 M

P2 Capital Partners, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of P2 Capital Partners, LLC

P2 Capital Partners, LLC has 12 stocks in it's portfolio. CBZ proved to be the most loss making stock for the portfolio. JBT was the most profitable stock for P2 Capital Partners, LLC last quarter.

Last Reported on: 14 Nov, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ACHC	acadia healthcare company in	11.12	2,337,190	57,868,800	added	9.1

AVNT	avient corporation	3.96	624,934	20,591,600	reduced	-3.85

BLKB	blackbaud inc	7.79	630,303	40,534,800	added	28.44

CBZ	cbiz inc	17.46	1,716,320	90,896,600	reduced	-4.98

ENOV	enovis corporation	3.47	595,000	18,052,300	reduced	-3.59

HSIC	henry schein inc	4.61	361,786	24,011,700	reduced	-3.98

IAS	integral ad science hldng co	9.44	4,830,800	49,129,300	reduced	-1.61

JBT	jbt marel corporation	12.14	449,952	63,195,800	reduced	-17.43

LIVN	livanova plc	4.97	493,902	25,870,600	reduced	-3.89

MSA	msa safety inc	4.51	136,343	23,460,500	reduced	-3.54

TNC	tennant co	7.55	484,950	39,310,000	reduced	-3.96

ZETA	zeta global holdings corp	6.49	1,700,000	33,779,000	unchanged	0.00