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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
Wealth Enhancement Advisory Services
301
Wealth Enhancement Advisory Services
Minnesota
$238K +$215K +1,230 New
QCM
302
Quantinno Capital Management
New York
$237K +$2.09K +12 +1%
HSBC Holdings
303
HSBC Holdings
United Kingdom
$229K -$247K -1,417 -55%
IP
304
Intellectus Partners
California
$226K -$52.3K -300 -20%
ONGA
305
O'Neil Global Advisors
California
$223K +$201K +1,153 New
ACM
306
Alamar Capital Management
California
$213K +$192K +1,100 New
Cerity Partners
307
Cerity Partners
New York
$212K +$191K +1,095 New
SAM
308
Sawgrass Asset Management
Florida
$206K +$186K +1,064 New
PPC
309
Park Place Capital
Alabama
$206K -$5.23K -30 -3%
Nisa Investment Advisors
310
Nisa Investment Advisors
Missouri
$204K -$14.8K -85 -7%
BCM
311
Bayesian Capital Management
New York
$203K +$182K +1,046 New
CCM
312
Coldstream Capital Management
Washington
$203K +$182K +1,046 New
SRC
313
Sage Rhino Capital
California
$201K +$181K +1,037 New
SAM
314
Smartleaf Asset Management
Massachusetts
$198K +$176K +1,011 New
PFBT
315
Parkside Financial Bank & Trust
Missouri
$190K -$12.2K -70 -7%
BEI
316
Benjamin Edwards Inc
Missouri
$190K -$8.37K -48 -5%
GC
317
Globeflex Capital
California
$188K – – –
C
318
Covestor
United Kingdom
$180K +$24.9K +143 +18%
BF
319
BOK Financial
Oklahoma
$172K +$14.8K +85 +11%
TWC
320
TD Waterhouse Canada
Ontario, Canada
$163K +$160K +918 New
TWM
321
Tradition Wealth Management
Minnesota
$159K – – –
SOW
322
State of Wyoming
Wyoming
$157K +$19.2K +110 +16%
FHA
323
First Horizon Advisors
Tennessee
$154K +$2.62K +15 +2%
KBC Group
324
KBC Group
Belgium
$153K – – –
CFGS
325
Concourse Financial Group Securities
Alabama
$151K +$14.7K +84 +12%
11 12
13
14 15

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.