SPS Commerce
SPSC
367 hedge funds and large institutions have $3.42B invested in SPS Commerce in 2025 Q4 according to their latest regulatory filings, with 64 funds opening new positions, 122 increasing their positions, 146 reducing their positions, and 94 closing their positions.
3,558% more call options, than puts
Call options by funds: $9.14M | Put options by funds: $250K
0.41% less ownership
Funds ownership: 102.07% → 101.66% (-0.41%)
9% less funds holding
Funds holding: 403 → 367 (-36)
15% less capital invested
Capital invested by funds: $4.04B → $3.42B (-$624M)
16% less repeat investments, than reductions
Existing positions increased: 122 | Existing positions reduced: 146
32% less first-time investments, than exits
New positions opened: 64 | Existing positions closed: 94
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
UBS Group
Zurich,
Switzerland
|
+$77.5M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$52.6M |
| 3 |
ICM
Irenic Capital Management
New York
|
+$41.9M |
| 4 |
Nomura Holdings
Tokyo,
Japan
|
+$28.2M |
| 5 |
Goldman Sachs
New York
|
+$25.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Macquarie Group
Sydney, NSW 2000,
Australia
|
-$62.6M |
| 2 |
CCA
Conestoga Capital Advisors
Wayne,
Pennsylvania
|
-$59.2M |
| 3 |
Kayne Anderson Rudnick Investment Management
Los Angeles,
California
|
-$57.9M |
| 4 |
CIP
Champlain Investment Partners
Burlington,
Vermont
|
-$36.7M |
| 5 |
GIM
Granahan Investment Management
Waltham,
Massachusetts
|
-$34.2M |
SPSC Hedge Fund Activity: Q4 2025 in Review
367 of the 8,266 institutional investors tracked by Wall St. Rank reported a position in SPS Commerce (SPSC) for Q4 2025, worth a combined $3.42B — down 15% from $4.04B a quarter earlier.
Sellers outnumbered buyers: 94 funds closed out of SPSC and 64 opened new positions — a net loss of 30 holders — while 146 trimmed existing stakes and 122 added.
The largest buyer was UBS Group, adding an estimated $77.5M. The largest seller was Macquarie Group, exiting entirely with an estimated $62.6M sold.
- 367 institutional investors held SPS Commerce (SPSC) as of Q4 2025, down from 403 in Q3 2025.
- Funds reported $3.42B of SPS Commerce stock for Q4 2025, down 15% quarter-over-quarter.
- 64 funds opened new SPS Commerce positions in Q4 2025 and 94 closed out, a net change of -30 holders.
- The largest SPS Commerce buyer in Q4 2025 was UBS Group, an estimated $77.5M added.
- The largest SPS Commerce seller in Q4 2025 was Macquarie Group, an estimated $62.6M sold.
Based on aggregated 13F filings for Q4 2025.