Q2 2026 13F · SEC CIK 1406313
P2 Capital Partners, LLC
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $245.6M
- Reported positions
- 12
- Top holdings a year, 3 yrs
- +0.9%
- Assets under management
- $824.4M
P2 Capital Partners, LLC is a hedge fund that reported 12 positions worth $245.6M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Acadia Healthcare Company in (ACHC, 21.3%), Cbiz Inc (CBZ, 14.9%), JBT Marel Corp (JBT, 13.3%). A portfolio copying its top holdings returned 0.9% a year over the last 3 years, against 22.3% for the S&P 500.
P2 Capital Partners, LLC holdings all 12 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| ACHCAcadia Healthcare Company in | 21.3% | +0.0% | $52.4M |
| CBZCbiz Inc | 14.9% | -0.3% | $36.5M |
| JBTJBT Marel Corp | 13.3% | +0.0% | $32.7M |
| HSICSchein Henry Inc Com | 9.0% | -11.7% | $22.1M |
| TNCTennant Co | 8.0% | -26.0% | $19.7M |
| ZETAZeta Global Holdings Corp | 7.4% | +0.5% | $18.1M |
| MSAMsa Safety Inc | 7.0% | -4.0% | $17.3M |
| BLKBBlackbaud Inc | 5.8% | +0.0% | $14.3M |
| CWSTCasella Waste Sys Inc | 5.8% | — | $14.3M |
| LRNStride Inc | 4.1% | — | $10.1M |
| ENOVEnovis Corporation | 2.7% | +0.0% | $6.6M |
| LIVNLivanova PLC | 0.6% | -87.3% | $1.5M |
What P2 Capital Partners, LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- CWST Casella Waste Sys Inc5.8% of 13F
- LRN Stride Inc4.1% of 13F
Added to
No position grew by more than 5%.
Reduced
- LIVN Livanova PLC-87.3% shares
- TNC Tennant Co-26.0% shares
- HSIC Schein Henry Inc Com-11.7% shares
Sold out
Nothing sold out.
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +12.4% /yr
- S&P 500 +11.7%
- 3 years
- +0.9% /yr
- S&P 500 +22.3%
- 5 years
- -2.3% /yr
- S&P 500 +10.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $245.6M | 12 |
| Q1 2026 | $209.9M | 10 |
| Q4 2025 | $390.3M | 10 |
| Q3 2025 | $486.7M | 12 |
| Q2 2025 | $496.1M | 12 |
| Q1 2025 | $515.2M | 12 |
| Q4 2024 | $588.8M | 11 |
| Q3 2024 | $875.8M | 15 |
| Q2 2024 | $839.1M | 16 |
| Q1 2024 | $845.9M | 15 |
| Q4 2023 | $908.6M | 15 |
| Q3 2023 | $758.2M | 13 |
Questions about P2 Capital Partners, LLC's portfolio
What stocks does P2 Capital Partners, LLC own?
P2 Capital Partners, LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 12 positions worth $245.6M. The largest are Acadia Healthcare Company in (ACHC) at 21.3%, Cbiz Inc (CBZ) at 14.9%, JBT Marel Corp (JBT) at 13.3%, Schein Henry Inc Com (HSIC) at 9.0% and Tennant Co (TNC) at 8.0%.
What did P2 Capital Partners, LLC buy last quarter?
In Q2 2026, P2 Capital Partners, LLC added a new position in Casella Waste Sys Inc (CWST) and a new position in Stride Inc (LRN), compared with its Q1 2026 filing.
What did P2 Capital Partners, LLC sell last quarter?
In Q2 2026, P2 Capital Partners, LLC Livanova PLC (LIVN) (-87.3% shares), Tennant Co (TNC) (-26.0% shares) and Schein Henry Inc Com (HSIC) (-11.7% shares), compared with its Q1 2026 filing.
How has P2 Capital Partners, LLC's portfolio performed?
A portfolio copying P2 Capital Partners, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +0.9% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +12.4% against +11.7%. Over 5 years: -2.3% a year against +10.6%.
When is P2 Capital Partners, LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. P2 Capital Partners, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does P2 Capital Partners, LLC manage?
P2 Capital Partners, LLC reported $824.4M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $245.6M.