P2 Capital Partners, LLC
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), P2 Capital Partners, LLC reported 16 stock positions worth $839.1 million. Its top holding was Acadia Healthcare (ACHC) at 12.2% of the portfolio, followed by Blackbaud (BLKB, 12.0%) and Cbiz (CBZ, 9.7%). Compared with Q1 2024, it opened 1 new position, added to 7 and reduced 6. The biggest buy was R1 RCM (RCM, shares +245%) and the biggest sale Sotera Health (SHC, shares −93%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001406313
- Portfolio Value
- $839.1M (Q2 2024)
- SEC Filing
- 0001172661-24-003368 ↗ filed Aug 14, 2024
Holdings Value
Holdings 16 stocks · $839.1M
| ACHC Acadia Healthcare Co. Inc. | 12.15% | 1,510,000 | $102.0M | Add +16.1% |
| BLKB Blackbaud Inc. | 12.00% | 1,321,558 | $100.7M | No change |
| CBZ Cbiz Inc. | 9.75% | 1,104,008 | $81.8M | Reduce -21.1% |
| JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP | 8.49% | 750,168 | $71.2M | Add +15.2% |
| RCM R1 RCM Inc. | 8.08% | 5,400,000 | $67.8M | Add +245.1% |
| TNC Tennant Co. | 7.64% | 651,391 | $64.1M | No change |
| LIVN Livanova PLC | 6.21% | 950,000 | $52.1M | Add +18.8% |
| MIR Mirion Technologies Inc. | 6.02% | 4,701,000 | $50.5M | Reduce -14.8% |
| IAS Integral Ad Science Holding | 5.64% | 4,872,973 | $47.4M | Add +81.8% |
| FUL H.B. Fuller Co. filed as FULLER H B CO | 5.61% | 611,326 | $47.0M | Reduce -5.9% |
| OPCH Option Care Health Inc. | 4.82% | 1,460,251 | $40.4M | Add +109.8% |
| AVNT Avient Corp. | 4.52% | 869,835 | $38.0M | Reduce -23.6% |
| ENSG The Ensign Group Inc. | 3.83% | 260,000 | $32.2M | Add +13.0% |
| ENOV Enovis Corp. | 2.48% | 460,000 | $20.8M | New |
| SITE Siteone Landscape Supply Inc. | 2.48% | 171,097 | $20.8M | Reduce -33.0% |
| SHC Sotera Health Co. | 0.28% | 200,000 | $2.4M | Reduce -93.2% |
Options reported separately and not counted above: RCM puts ($67.8M), IAS calls ($4.9M).
Portfolio Sells Q1 2024 → Q2 2024
Portfolio Buys Q1 2024 → Q2 2024
| RCM R1 RCM Inc. | Add +245.1% | 8.08% | +5.70 |
| IAS Integral Ad Science Holding | Add +81.8% | 5.64% | +2.49 |
| ENOV Enovis Corp. | New | 2.48% | +2.48 |
| OPCH Option Care Health Inc. | Add +109.8% | 4.82% | +2.06 |
| LIVN Livanova PLC | Add +18.8% | 6.21% | +0.92 |
| ENSG The Ensign Group Inc. | Add +13.0% | 3.83% | +0.45 |
| JBTM JBT Marel Corp. | Add +15.2% | 8.49% | +0.41 |
| ACHC Acadia Healthcare Co. Inc. | Add +16.1% | 12.15% | −0.02 |
Options Activity Q1 2024 → Q2 2024
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 12 | $245.6M | ACHC, CBZ, JBTM, HSIC, TNC |
| Q1 2026 | 10 | $209.9M | ACHC, CBZ, JBTM, HSIC, TNC |
| Q4 2025 | 10 | $390.3M | CBZ, JBTM, BLKB, TNC, ZETA |
| Q3 2025 | 12 | $486.7M | CBZ, JBTM, ACHC, IAS, BLKB |
| Q2 2025 | 12 | $496.1M | CBZ, JBTM, ACHC, IAS, TNC |
| Q1 2025 | 12 | $515.2M | CBZ, JBTM, ACHC, TNC, IAS |
| Q4 2024 | 11 | $588.8M | CBZ, ACHC, JBTM, BLKB, IAS |
| Q3 2024 | 15 | $875.8M | CBZ, BLKB, ACHC, IAS, JBTM |
| Q2 2024 | 16 | $839.1M | ACHC, BLKB, CBZ, JBTM, RCM |
| Q1 2024 | 15 | $845.9M | CBZ, ACHC, BLKB, TNC, JBTM |