P2 Capital Partners, LLC
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| May 2026 to Nov 2026 | $824,400,000 | Pooled investment vehicles (100%) |
| Apr 2025 to Apr 2026 | $1,260,600,000 | Pooled investment vehicles (100%) |
| Apr 2024 to Mar 2025 | $1,319,000,000 | Pooled investment vehicles (100%) |
| May 2023 to Mar 2024 | $1,274,800,000 | Pooled investment vehicles (100%) |
| Apr 2023 | $1,274,800,000 | Pooled investment vehicles (100%) |
| Apr 2022 to Mar 2023 | $1,888,100,000 | Pooled investment vehicles (100%) |
In the firm's words
- Fundamental active:
P2 pursues a research intensive, concentrated, long-term, value-oriented, active and management-friendly investment style.
- Value:
P2 pursues a research intensive, concentrated, long-term, value-oriented, active and management-friendly investment style.
- Activist:
P2 properly identify companies whose securities prices can be improved through P2’s active influence on, and involvement in, the operations of such companies
- Private markets:
P2 takes a private equity approach to investing in the small cap public market.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Closest benchmark: the S&P SmallCap 600 as of 2026-06-30, active share 98.7%; sector active share 64.5% against the combined 13F book's sector weights.
Over time 26 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
12 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Portfolio Trend
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Industrials | 49.1% | $120,467,416 |
| Healthcare | 33.6% | $82,631,689 |
| Technology | 13.2% | $32,408,327 |
| Consumer Defensive | 4.1% | $10,058,171 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ZETA | Zeta Global Holdings Corp. | +5,000 | 920,000 | $18,105,600 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| LIVN | LivaNova PLC | −127,277 | 18,452 | $1,517,307 | |
| TNC | Tennant Co | −78,952 | 225,255 | $19,718,822 | |
| HSIC | Henry Schein Inc | −35,000 | 264,486 | $22,089,870 | |
| MSA | MSA Safety Inc | −4,152 | 99,117 | $17,303,845 | |
| CBZ | CBIZ, Inc. | −3,700 | 1,136,974 | $36,474,125 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exited| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ACHC |
Acadia Healthcare Company, Inc.
Healthcare
|
Held | 1,774,484 | $52,400,512 | 21.34% | |
| CBZ |
CBIZ, Inc.
Industrials
|
Reduced | 1,136,974 | $36,474,125 | 14.85% | |
| JBTM |
JBT MAREL Corp
Industrials
|
Held | 225,470 | $32,693,150 | 13.31% | |
| HSIC |
Henry Schein Inc
Healthcare
|
Reduced | 264,486 | $22,089,870 | 9.00% | |
| TNC |
Tennant Co
Industrials
|
Reduced | 225,255 | $19,718,822 | 8.03% | |
| ZETA |
Zeta Global Holdings Corp.
Technology
|
Added | 920,000 | $18,105,600 | 7.37% | |
| MSA |
MSA Safety Inc
Industrials
|
Reduced | 99,117 | $17,303,845 | 7.05% | |
| BLKB |
Blackbaud Inc
Technology
|
Held | 482,874 | $14,302,727 | 5.82% | |
| CWST |
Casella Waste Systems Inc
Industrials
|
NEW | 147,236 | $14,277,474 | 5.81% | |
| LRN |
Stride, Inc.
Consumer Defensive
|
NEW | 116,630 | $10,058,171 | 4.10% | |
| ENOV |
Enovis CORP
Healthcare
|
Held | 320,000 | $6,624,000 | 2.70% | |
| LIVN |
LivaNova PLC
Healthcare
|
Reduced | 18,452 | $1,517,307 | 0.62% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.