Q3 2025 · 13F-HR
P2 Capital Partners, LLCholdings as filed
Filed 2025-11-14 · accession 0001172661-25-004819
$520.5M
Reported value
13
Positions
2025-09-30
Period end
The Brief · P2 Capital Partners, LLC · Q3 2025
AI · grounded in 13F
P2 Capital Partners, LLC established a new position in CBZ valued at $90.9M. The fund also initiated new stakes in ZETA for $67.6M and JBTM for $63.2M. Additional new positions include ACHC at $57.9M, IAS at $49.1M, and BLKB at $40.5M. The fund ended the period with 12 positions and total AUM of $520.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 124805102 | CBZ | CBIZ INC | $90.9M | 17.5% | 1,716,325 | Common | SOLE |
| 477839104 | JBTM | JBT MAREL CORPORATION | $63.2M | 12.1% | 449,952 | Common | SOLE |
| 00404A109 | ACHC | ACADIA HEALTHCARE COMPANY IN | $57.9M | 11.1% | 2,337,188 | Common | SOLE |
| 45828L108 | IAS | INTEGRAL AD SCIENCE HLDNG CO | $49.1M | 9.44% | 4,830,805 | Common | SOLE |
| 09227Q100 | BLKB | BLACKBAUD INC | $40.5M | 7.79% | 630,303 | Common | SOLE |
| 880345103 | TNC | TENNANT CO | $39.3M | 7.55% | 484,950 | Common | SOLE |
| 98956A105 | ZETA | ZETA GLOBAL HOLDINGS CORP | $33.8M | 6.49% | 1,700,000 | PUT | NONE |
| 98956A105 | ZETA | ZETA GLOBAL HOLDINGS CORP | $33.8M | 6.49% | 1,700,000 | Common | SOLE |
| G5509L101 | LIVN | LIVANOVA PLC | $25.9M | 4.97% | 493,902 | Common | SOLE |
| 806407102 | HSIC | HENRY SCHEIN INC | $24.0M | 4.61% | 361,786 | Common | SOLE |
| 553498106 | MSA | MSA SAFETY INC | $23.5M | 4.51% | 136,343 | Common | SOLE |
| 05368V106 | AVNT | AVIENT CORPORATION | $20.6M | 3.96% | 624,934 | Common | SOLE |
| 194014502 | ENOV | ENOVIS CORPORATION | $18.1M | 3.47% | 595,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.