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P2 Capital Partners, LLC

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13F filer, CIK 1406313, New York, NY

P2 Capital Partners, LLC reported $209,918,643 across 10 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-26-002116

Period
2026-03-31
Reported value
$210M
Holdings
10
Top 10 weight
100%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ACHCnew+1,774,484$41.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
JBTMreduced-224,482-$28.7M
LIVNreduced-348,173-$22.1M
AVNTexited-624,934-$19.5M
CBZreduced-632,717-$17M
MSAreduced-82,406-$13.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001172661-26-002116, largest first. % of portfolio is the value over $209,918,643, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ACHCACADIA HEALTHCARE COMPANY INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,570,000 shares; 2024Q4: 2,194,288 shares; 2025Q1: 2,142,188 shares; 2025Q2: 2,142,188 shares; 2025Q3: 2,337,188 shares; 2025Q4: not reported; 2026Q1: 1,774,484 shares 1,774,484$41.5M19.77%newTimeline
CBZCBIZ INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,800,532 shares; 2024Q4: 1,808,955 shares; 2025Q1: 1,917,063 shares; 2025Q2: 1,806,308 shares; 2025Q3: 1,716,325 shares; 2025Q4: 1,773,391 shares; 2026Q1: 1,140,674 shares 1,140,674$30.6M14.59%-632,717Timeline
JBTMJBT MAREL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 800,168 shares; 2024Q4: 593,558 shares; 2025Q1: 593,558 shares; 2025Q2: 544,952 shares; 2025Q3: 449,952 shares; 2025Q4: 449,952 shares; 2026Q1: 225,470 shares 225,470$28.8M13.73%-224,482Timeline
HSICSCHEIN HENRY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 583,316 shares; 2025Q1: 562,786 shares; 2025Q2: 376,786 shares; 2025Q3: 361,786 shares; 2025Q4: 361,786 shares; 2026Q1: 299,486 shares 299,486$22.1M10.51%-62,300Timeline
TNCTENNANT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 727,391 shares; 2024Q4: 517,078 shares; 2025Q1: 517,078 shares; 2025Q2: 504,950 shares; 2025Q3: 484,950 shares; 2025Q4: 484,950 shares; 2026Q1: 304,207 shares 304,207$20.2M9.62%-180,743Timeline
BLKBBLACKBAUD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,320,251 shares; 2024Q4: 758,179 shares; 2025Q1: 446,259 shares; 2025Q2: 490,754 shares; 2025Q3: 630,303 shares; 2025Q4: 630,303 shares; 2026Q1: 482,874 shares 482,874$18.6M8.88%-147,429Timeline
MSAMSA SAFETY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 141,343 shares; 2025Q3: 136,343 shares; 2025Q4: 185,675 shares; 2026Q1: 103,269 shares 103,269$16.9M8.07%-82,406Timeline
ZETAZETA GLOBAL HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 725,000 shares; 2025Q2: 1,700,000 shares; 2025Q3: 1,700,000 shares; 2025Q4: 1,700,000 shares; 2026Q1: 915,000 shares 915,000$14.6M6.94%-785,000Timeline
LIVNLIVANOVA PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,050,000 shares; 2024Q4: 510,802 shares; 2025Q1: 552,902 shares; 2025Q2: 513,902 shares; 2025Q3: 493,902 shares; 2025Q4: 493,902 shares; 2026Q1: 145,729 shares 145,729$9.26M4.41%-348,173Timeline
ENOVENOVIS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 460,000 shares; 2024Q4: 330,000 shares; 2025Q1: 330,000 shares; 2025Q2: 617,149 shares; 2025Q3: 595,000 shares; 2025Q4: 595,000 shares; 2026Q1: 320,000 shares 320,000$7.28M3.47%-275,000Timeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
AVNTAVIENT CORPORATION624,934$19.5Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-26-002116 base2026-05-15acceptance time not in the bulk data set