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SPS Commerce
SPSC

402 hedge funds and large institutions have $7.3B invested in SPS Commerce in 2023 Q4 according to their latest regulatory filings, with 48 funds opening new positions, 133 increasing their positions, 175 reducing their positions, and 19 closing their positions.

New
Increased
Maintained
Reduced
Closed

153% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 19

148% more call options, than puts

Call options by funds: $8.28M | Put options by funds: $3.33M

15% more capital invested

Capital invested by funds: $6.36B → $7.3B (+$945M)

6% more funds holding

Funds holding: 379 → 402 (+23)

1.41% more ownership

Funds ownership: 101.52% → 102.93% (+1.4%)

24% less repeat investments, than reductions

Existing positions increased: 133 | Existing positions reduced: 175

33% less funds holding in top 10

Funds holding in top 10: 6 → 4 (-2)

Holders
402
Holders Change
+23
Holders Change %
+6.07%
% of All Funds
5.86%
Holding in Top 10
4
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-33.33%
% of All Funds
0.06%
New
48
Increased
133
Reduced
175
Closed
19
Calls
$8.28M
Puts
$3.33M
Net Calls
+$4.94M
Net Calls Change
+$8.87M

Top Buyers

1
Morgan Stanley
Morgan Stanley
New York
+$116M
2
Invesco
Invesco
Georgia
+$43M
3
BlackRock
BlackRock
New York
+$29.5M
4
APG Asset Management
APG Asset Management
Netherlands
+$19.3M
5
AI
Axiom Investors
Connecticut
+$14.7M

Top Sellers

1
CCA
Conestoga Capital Advisors
Pennsylvania
-$37M
2
Allspring Global Investments
Allspring Global Investments
North Carolina
-$18.1M
3
GIM
Granahan Investment Management
Massachusetts
-$17.5M
4
AllianceBernstein
AllianceBernstein
Tennessee
-$12.3M
5
CS
Credit Suisse
Switzerland
-$11.2M
Name Holding Trade Value Shares
Change 		Change in
Stake
Cetera Investment Advisers
276
Cetera Investment Advisers
Illinois
$357K -$29.8K -171 -9%
FTDI
277
First Trust Direct Indexing
Massachusetts
$356K +$14.7K +84 +5%
SDIC
278
South Dakota Investment Council
South Dakota
$349K – – –
MWM
279
Moran Wealth Management
Florida
$345K -$18.5K -106 -6%
SI
280
Stephens Inc
Arkansas
$342K -$35.1K -201 -10%
SCM
281
Shelton Capital Management
Colorado
$335K -$12.2K -70 -4%
Allianz Asset Management
282
Allianz Asset Management
Germany
$330K – – –
CCIA
283
Campbell & Co Investment Adviser
Maryland
$329K +$296K +1,696 New
VA
284
Vident Advisory
Georgia
$328K +$295K +1,690 New
QCG
285
Quadrant Capital Group
Ohio
$326K +$32.8K +188 +13%
WA
286
Wealth Alliance
New York
$324K +$12.4K +71 +4%
NP
287
NorthRock Partners
Minnesota
$324K +$292K +1,674 New
JSW
288
Journey Strategic Wealth
New Jersey
$322K – – –
Fifth Third Bancorp
289
Fifth Third Bancorp
Ohio
$309K -$19.9K -114 -7%
MC
290
Maverick Capital
Texas
$307K +$276K +1,582 New
SFA
291
Sequoia Financial Advisors
Ohio
$305K +$18.8K +108 +7%
MIM
292
Marco Investment Management
Georgia
$304K -$68K -390 -20%
EI
293
Ethic Inc
New York
$278K +$23.5K +135 +10%
GC
294
Guggenheim Capital
Illinois
$275K +$13.8K +79 +6%
CIA
295
Compass Ion Advisors
Pennsylvania
$259K – – –
DWM
296
Dakota Wealth Management
Florida
$248K -$277K -1,591 -55%
PMA
297
Prudent Man Advisors
Illinois
$247K -$25.5K -146 -10%
LCM
298
Legato Capital Management
California
$247K +$222K +1,275 New
PCM
299
Penserra Capital Management
California
$245K +$220K +1,264 New
WCA
300
Westover Capital Advisors
Delaware
$244K -$15.9K -91 -7%
10 11
12
13 14

SPSC Hedge Fund Activity: Q4 2023 in Review

402 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in SPS Commerce (SPSC) for Q4 2023, worth a combined $7.3B — up 15% from $6.36B a quarter earlier.

Buyers outnumbered sellers: 48 funds opened new SPSC positions and 19 closed out — a net gain of 29 holders — while 133 added to existing stakes and 175 trimmed.

The largest buyer was Morgan Stanley, adding an estimated $116M. The largest seller was Conestoga Capital Advisors, cutting an estimated $37M.

  • 402 institutional investors held SPS Commerce (SPSC) as of Q4 2023, up from 379 in Q3 2023.
  • Funds reported $7.3B of SPS Commerce stock for Q4 2023, up 15% quarter-over-quarter.
  • 48 funds opened new SPS Commerce positions in Q4 2023 and 19 closed out, a net change of +29 holders.
  • The largest SPS Commerce buyer in Q4 2023 was Morgan Stanley, an estimated $116M added.
  • The largest SPS Commerce seller in Q4 2023 was Conestoga Capital Advisors, an estimated $37M sold.

Based on aggregated 13F filings for Q4 2023.