P2 Capital Partners, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), P2 Capital Partners, LLC reported 10 stock positions worth $209.9 million. Its top holding was Acadia Healthcare (ACHC) at 19.8% of the portfolio, followed by Cbiz (CBZ, 14.6%) and JBT Marel (JBTM, 13.7%). Compared with Q4 2025, it opened 1 new position, sold out of 1 and reduced 9. The biggest buy was a new position in Acadia Healthcare (ACHC) and the biggest sale Cbiz (CBZ, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001406313
- Portfolio Value
- $209.9M (Q1 2026)
- SEC Filing
- 0001172661-26-002116 ↗ filed May 15, 2026
Holdings Value
Holdings 10 stocks · $209.9M
| ACHC Acadia Healthcare Co. Inc. | 19.77% | 1,774,484 | $41.5M | New |
| CBZ Cbiz Inc. | 14.59% | 1,140,674 | $30.6M | Reduce -35.7% |
| JBTM JBT Marel Corp. | 13.73% | 225,470 | $28.8M | Reduce -49.9% |
| HSIC Henry Schein Inc. filed as SCHEIN HENRY INC | 10.51% | 299,486 | $22.1M | Reduce -17.2% |
| TNC Tennant Co. | 9.62% | 304,207 | $20.2M | Reduce -37.3% |
| BLKB Blackbaud Inc. | 8.88% | 482,874 | $18.6M | Reduce -23.4% |
| MSA Msa Safety Inc. | 8.07% | 103,269 | $16.9M | Reduce -44.4% |
| ZETA Zeta Global Holdings Corp. Class A | 6.94% | 915,000 | $14.6M | Reduce -46.2% |
| LIVN Livanova PLC | 4.41% | 145,729 | $9.3M | Reduce -70.5% |
| ENOV Enovis Corp. | 3.47% | 320,000 | $7.3M | Reduce -46.2% |
Portfolio Sells Q4 2025 → Q1 2026
| CBZ Cbiz Inc. | Reduce -35.7% | 14.59% | −8.33 |
| AVNT Avient Corp. | Sold out | 0.00% | −5.00 |
| JBTM JBT Marel Corp. | Reduce -49.9% | 13.73% | −3.63 |
| LIVN Livanova PLC | Reduce -70.5% | 4.41% | −3.37 |
| ZETA Zeta Global Holdings Corp. Class A | Reduce -46.2% | 6.94% | −1.92 |
| BLKB Blackbaud Inc. | Reduce -23.4% | 8.88% | −1.34 |
| ENOV Enovis Corp. | Reduce -46.2% | 3.47% | −0.59 |
| MSA Msa Safety Inc. | Reduce -44.4% | 8.07% | +0.45 |
| TNC Tennant Co. | Reduce -37.3% | 9.62% | +0.47 |
| HSIC Henry Schein Inc. | Reduce -17.2% | 10.51% | +3.51 |
Portfolio Buys Q4 2025 → Q1 2026
| ACHC Acadia Healthcare Co. Inc. | New | 19.77% | +19.77 |
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 |