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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
AF
401
Advisornet Financial
Minnesota
$388 +$174 +1 +100%
JWA
402
JFS Wealth Advisors
Pennsylvania
$194 -$174 -1 -50%
SG Americas Securities
403
SG Americas Securities
New York
– -$3.94M -23,070 Closed
LAS
404
Lloyd Advisory Services
Georgia
– -$1.63M -9,579 Closed
JCIA
405
Jackson Creek Investment Advisors
Colorado
– -$1.14M -6,670 Closed
XT
406
XTX Topco
Cayman Islands
– -$710K -4,163 Closed
CF
407
Cantor Fitzgerald
New York
– -$552K -3,234 Closed
DFCM
408
Dark Forest Capital Management
Puerto Rico
– -$480K -2,813 Closed
YIH
409
Y-Intercept (HK)
Hong Kong
– -$308K -1,804 Closed
Squarepoint
410
Squarepoint
New York
– -$297K -1,738 Closed
PA
411
PFW Advisors
Georgia
– -$255K -1,493 Closed
TCM
412
Teza Capital Management
Illinois
– -$240K -1,409 Closed
ECM
413
ExodusPoint Capital Management
New York
– -$212K -1,240 Closed
CMF
414
Counterpoint Mutual Funds
California
– -$95.5K -560 Closed
HT
415
Headlands Technologies
Illinois
– -$53.9K -316 Closed
MCM
416
Manchester Capital Management
Vermont
– -$3.07K -18 Closed
RFG
417
RFP Financial Group
Georgia
– -$3.07K -18 Closed
OLVIG
418
Oliver Lagore Vanvalin Investment Group
Michigan
– -$2.05K -12 Closed
GBT
419
Grove Bank & Trust
Florida
– -$853 -5 Closed
BAAM
420
Baker Avenue Asset Management
California
– -$512 -3 Closed
SIC
421
SJS Investment Consulting
Ohio
– -$342 -2 Closed
13 14 15 16
17

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.