SPS Commerce
SPSC
448 hedge funds and large institutions have $4.99B invested in SPS Commerce in 2025 Q1 according to their latest regulatory filings, with 64 funds opening new positions, 172 increasing their positions, 161 reducing their positions, and 72 closing their positions.
278% more call options, than puts
Call options by funds: $13.8M | Put options by funds: $3.66M
7% more repeat investments, than reductions
Existing positions increased: 172 | Existing positions reduced: 161
1.06% less ownership
Funds ownership: 100.63% → 99.58% (-1.1%)
3% less funds holding
Funds holding: 460 → 448 (-12)
11% less first-time investments, than exits
New positions opened: 64 | Existing positions closed: 72
25% less funds holding in top 10
Funds holding in top 10: 4 → 3 (-1)
28% less capital invested
Capital invested by funds: $6.96B → $4.99B (-$1.96B)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
+$37.1M |
| 2 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
+$35.5M |
| 3 |
Squarepoint
New York
|
+$35.5M |
| 4 |
Nordea Investment Management
Stockholm,
Sweden
|
+$34.5M |
| 5 |
BCM
Brown Capital Management
Baltimore,
Maryland
|
+$26.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AllianceBernstein
Nashville,
Tennessee
|
-$88.5M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
-$59.3M |
| 3 |
Goldman Sachs
New York
|
-$45.7M |
| 4 |
Fidelity Investments
Boston,
Massachusetts
|
-$39.8M |
| 5 |
Assenagon Asset Management
Senningerberg,
Luxembourg
|
-$21.1M |
SPSC Hedge Fund Activity: Q1 2025 in Review
448 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in SPS Commerce (SPSC) for Q1 2025, worth a combined $4.99B — down 28% from $6.96B a quarter earlier.
Sellers outnumbered buyers: 72 funds closed out of SPSC and 64 opened new positions — a net loss of 8 holders — while 161 trimmed existing stakes and 172 added.
The largest buyer was Fiera Capital (Canada), opening a new position worth an estimated $37.1M. The largest seller was AllianceBernstein, cutting an estimated $88.5M.
- 448 institutional investors held SPS Commerce (SPSC) as of Q1 2025, down from 460 in Q4 2024.
- Funds reported $4.99B of SPS Commerce stock for Q1 2025, down 28% quarter-over-quarter.
- 64 funds opened new SPS Commerce positions in Q1 2025 and 72 closed out, a net change of -8 holders.
- The largest SPS Commerce buyer in Q1 2025 was Fiera Capital (Canada), an estimated $37.1M added.
- The largest SPS Commerce seller in Q1 2025 was AllianceBernstein, an estimated $88.5M sold.
Based on aggregated 13F filings for Q1 2025.