Who owns SPS Commerce (SPSC)
Which tracked institutional funds hold SPSC, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SPSC company fundamentals →
Ownership as of the 2026-Q2 13F filings (latest filed 2026-09-22). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
67 tracked funds added or opened SPSC while 91 trimmed or exited it between 2026-Q1 and 2026-Q2 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SPSC’s largest tracked holder by dollar value, BlackRock, Inc., sizes it at 0.0% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 0.0pp gap the other way — the median holder sizes SPSC more heavily than its largest holder by dollar value does.
Book-share is each fund’s reported value in SPSC divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2026-Q1 and 2026-Q2, across 296 tracked filers holding SPSC, 164 increased or opened the position and 193 reduced or closed it; over the same quarter, open-market insider Form 4s were net sales.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SPSC between the 2026-Q1 and 2026-Q2 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 16
- Jupiter Topco LLC$56M
- Engine Capital Management, LP$52M
- Long Path Partners LP$10M
- PERRY CREEK CAPITAL LP$6M
- Occam Crest Management LP$4M
- Diametric Capital, LP$3M
Full exits 42
- Van Berkom & Associates Inc.$38M
- Pacer Advisors, Inc.$36M
- NORDEA INVESTMENT MANAGEMENT AB$30M
- JANUS HENDERSON GROUP PLC$17M
- VOLORIDGE INVESTMENT MANAGEMENT, LLC$14M
- Local Pensions Partnership Investment Ltd$10M
Largest adds
- BlackRock, Inc.$102M
- DISCIPLINED GROWTH INVESTORS INC /MN$76M
- Invenomic Capital Management LP$35M
- GEODE CAPITAL MANAGEMENT, LLC$17M
- Anson Funds Management LP$11M
- Lightrock Netherlands B.V.$10M
Largest trims
- NORGES BANK$63M
- BANK OF AMERICA CORP /DE/$34M
- RIVERBRIDGE PARTNERS LLC$21M
- D. E. Shaw & Co., Inc.$17M
- Walleye Capital LLC$15M
- FIL Ltd$11M
Institutional holders
One row per tracked fund, most shares held first (every row is from one quarter; reported value breaks ties). “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding.
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| BlackRock, Inc. added | 5,934,211 | $339M | 16.1% | 2026-Q2 |
| VANGUARD PORTFOLIO MANAGEMENT LLC trimmed | 2,914,709 | $167M | 7.9% | 2026-Q2 |
| DISCIPLINED GROWTH INVESTORS INC /MN added | 2,123,881 | $121M | 5.8% | 2026-Q2 |
| NEUBERGER BERMAN GROUP LLC trimmed | 1,780,876 | $102M | 4.8% | 2026-Q2 |
| VANGUARD CAPITAL MANAGEMENT LLC trimmed | 1,598,383 | $91M | 4.3% | 2026-Q2 |
| STATE STREET CORP added | 1,545,696 | $88M | 4.2% | 2026-Q2 |
| GEODE CAPITAL MANAGEMENT, LLC added | 1,266,247 | $72M | 3.4% | 2026-Q2 |
| GOLDMAN SACHS GROUP INC added | 1,107,434 | $63M | 3.0% | 2026-Q2 |
| MORGAN STANLEY added | 997,970 | $57M | 2.7% | 2026-Q2 |
| Jupiter Topco LLC new | 984,427 | $56M | 2.7% | 2026-Q2 |
| Engine Capital Management, LP new | 916,380 | $52M | 2.5% | 2026-Q2 |
| CITADEL ADVISORS LLC added | 913,868 | $52M | 2.5% | 2026-Q2 |
| FEDERATED HERMES, INC. added | 901,632 | $52M | 2.5% | 2026-Q2 |
| Invenomic Capital Management LP added | 869,410 | $50M | 2.4% | 2026-Q2 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. added | 760,700 | $43M | 2.1% | 2026-Q2 |
| Anson Funds Management LP added | 745,000 | $43M | 2.0% | 2026-Q2 |
| Lightrock Netherlands B.V. added | 613,169 | $35M | 1.7% | 2026-Q2 |
| Irenic Capital Management LP | 597,704 | $34M | 1.6% | 2026-Q2 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 542,524 | $31M | 1.5% | 2026-Q2 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 509,490 | $29M | 1.4% | 2026-Q2 |
| NORTHERN TRUST CORP added | 494,868 | $28M | 1.3% | 2026-Q2 |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. added | 411,959 | $24M | 1.1% | 2026-Q2 |
| BANK OF AMERICA CORP /DE/ trimmed | 378,587 | $22M | 1.0% | 2026-Q2 |
| DIMENSIONAL FUND ADVISORS LP trimmed | 343,932 | $20M | 0.9% | 2026-Q2 |
| Bank of New York Mellon Corp trimmed | 275,175 | $16M | 0.7% | 2026-Q2 |
| Public Sector Pension Investment Board trimmed | 270,944 | $15M | 0.7% | 2026-Q2 |
| PRINCIPAL FINANCIAL GROUP INC added | 268,347 | $15M | 0.7% | 2026-Q2 |
| BARCLAYS PLC added | 267,135 | $15M | 0.7% | 2026-Q2 |
| BNP PARIBAS FINANCIAL MARKETS trimmed | 262,120 | $15M | 0.7% | 2026-Q2 |
| VANGUARD FIDUCIARY TRUST CO trimmed | 253,845 | $15M | 0.7% | 2026-Q2 |
| Nuveen, LLC trimmed | 232,146 | $13M | 0.6% | 2026-Q2 |
| Qube Research & Technologies Ltd trimmed | 218,265 | $12M | 0.6% | 2026-Q2 |
| GLENMEDE TRUST CO NA added | 214,278 | $12M | 0.6% | 2026-Q2 |
| AQR CAPITAL MANAGEMENT LLC added | 207,870 | $12M | 0.6% | 2026-Q2 |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND trimmed | 202,645 | $12M | 0.6% | 2026-Q2 |
| Fenimore Asset Management Inc trimmed | 195,806 | $11M | 0.5% | 2026-Q2 |
| PRICE T ROWE ASSOCIATES INC /MD/ trimmed | 184,383 | $11M | 0.5% | 2026-Q2 |
| D. E. Shaw & Co., Inc. trimmed | 182,792 | $10M | 0.5% | 2026-Q2 |
| Long Path Partners LP new | 180,912 | $10M | 0.5% | 2026-Q2 |
| Walleye Capital LLC trimmed | 180,335 | $10M | 0.5% | 2026-Q2 |
| UBS Group AG added | 175,691 | $10M | 0.5% | 2026-Q2 |
| Invesco Ltd. added | 174,173 | $10M | 0.5% | 2026-Q2 |
| CANADA PENSION PLAN INVESTMENT BOARD trimmed | 156,860 | $9M | 0.4% | 2026-Q2 |
| LAZARD ASSET MANAGEMENT LLC trimmed | 153,769 | $9M | 0.4% | 2026-Q2 |
| ROYAL BANK OF CANADA trimmed | 140,044 | $8M | 0.4% | 2026-Q2 |
| JPMORGAN CHASE & CO trimmed | 110,694 | $6M | 0.3% | 2026-Q2 |
| Legal & General Group Plc added | 110,484 | $6M | 0.3% | 2026-Q2 |
| PERRY CREEK CAPITAL LP new | 105,927 | $6M | 0.3% | 2026-Q2 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC added | 101,896 | $6M | 0.3% | 2026-Q2 |
| RHUMBLINE ADVISERS trimmed | 93,188 | $5M | 0.3% | 2026-Q2 |
| Creative Planning added | 85,931 | $5M | 0.2% | 2026-Q2 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed | 84,193 | $5M | 0.2% | 2026-Q2 |
| RENAISSANCE GROUP LLC trimmed | 78,306 | $4M | 0.2% | 2026-Q2 |
| ALLIANCEBERNSTEIN L.P. added | 78,264 | $4M | 0.2% | 2026-Q2 |
| PRUDENTIAL FINANCIAL INC added | 75,944 | $4M | 0.2% | 2026-Q2 |
| LPL Financial LLC trimmed | 74,660 | $4M | 0.2% | 2026-Q2 |
| Swiss National Bank trimmed | 74,400 | $4M | 0.2% | 2026-Q2 |
| CAXTON ASSOCIATES LLP added | 74,290 | $4M | 0.2% | 2026-Q2 |
| AMERICAN CAPITAL MANAGEMENT INC trimmed | 73,958 | $4M | 0.2% | 2026-Q2 |
| Quantinno Capital Management LP added | 70,326 | $4M | 0.2% | 2026-Q2 |
| HERALD INVESTMENT MANAGEMENT Ltd | 70,000 | $4M | 0.2% | 2026-Q2 |
| Voleon Capital Management LP trimmed | 69,759 | $4M | 0.2% | 2026-Q2 |
| Sovereign's Capital Management, LLC trimmed | 69,184 | $4M | 0.2% | 2026-Q2 |
| AMERIPRISE FINANCIAL INC trimmed | 68,157 | $4M | 0.2% | 2026-Q2 |
| VICTORY CAPITAL MANAGEMENT INC added | 67,757 | $4M | 0.2% | 2026-Q2 |
| DEUTSCHE BANK AG\ trimmed | 66,023 | $4M | 0.2% | 2026-Q2 |
| MONTRUSCO BOLTON INVESTMENTS INC. | 63,300 | $4M | 0.2% | 2026-Q2 |
| Diametric Capital, LP new | 59,549 | $3M | 0.2% | 2026-Q2 |
| FMR LLC trimmed | 59,241 | $3M | 0.2% | 2026-Q2 |
| BUCKHEAD CAPITAL MANAGEMENT LLC added | 57,626 | $3M | 0.2% | 2026-Q2 |
| Ballast Asset Management, LP added | 56,249 | $3M | 0.2% | 2026-Q2 |
| Palisades Investment Partners, LLC added | 55,838 | $3M | 0.2% | 2026-Q2 |
| FRED ALGER MANAGEMENT, LLC trimmed | 55,180 | $3M | 0.2% | 2026-Q2 |
| Verition Fund Management LLC added | 55,000 | $3M | 0.1% | 2026-Q2 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM added | 53,523 | $3M | 0.1% | 2026-Q2 |
| NATIXIS trimmed | 52,500 | $3M | 0.1% | 2026-Q2 |
| Occam Crest Management LP new | 52,000 | $4M | 0.2% | 2026-Q2 |
| Numerai GP LLC added | 50,078 | $3M | 0.1% | 2026-Q2 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 44,545 | $3M | 0.1% | 2026-Q2 |
| Russell Investments Group, Ltd. trimmed | 40,260 | $2M | 0.1% | 2026-Q2 |
| BROWN CAPITAL MANAGEMENT LLC trimmed | 38,208 | $2M | 0.1% | 2026-Q2 |
| Prescott Group Capital Management, L.L.C. added | 38,154 | $2M | 0.1% | 2026-Q2 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 36,253 | $2M | 0.1% | 2026-Q2 |
| VANGUARD ASSET MANAGEMENT, Ltd added | 35,609 | $2M | 0.1% | 2026-Q2 |
| WELLS FARGO & COMPANY/MN added | 35,595 | $2M | 0.1% | 2026-Q2 |
| Ewing Morris & Co. Investment Partners Ltd. new | 35,243 | $2M | 0.1% | 2026-Q2 |
| NEW YORK STATE COMMON RETIREMENT FUND added | 33,975 | $2M | 0.1% | 2026-Q2 |
| Bridgewater Associates, LP trimmed | 32,794 | $2M | 0.1% | 2026-Q2 |
| JANE STREET GROUP, LLC trimmed | 31,895 | $2M | 0.1% | 2026-Q2 |
| Corient Private Wealth LP trimmed | 31,193 | $2M | 0.1% | 2026-Q2 |
| Linden Thomas Advisory Services, LLC added | 30,370 | $2M | 0.1% | 2026-Q2 |
| Hillsdale Investment Management Inc. added | 30,300 | $2M | 0.1% | 2026-Q2 |
| KENNEDY CAPITAL MANAGEMENT LLC added | 29,040 | $2M | 0.1% | 2026-Q2 |
| Jump Financial, LLC trimmed | 28,389 | $2M | 0.1% | 2026-Q2 |
| Elo Mutual Pension Insurance Co new | 27,759 | $2M | 0.1% | 2026-Q2 |
| FRANKLIN RESOURCES INC added | 27,630 | $2M | 0.1% | 2026-Q2 |
| KLP KAPITALFORVALTNING AS added | 27,500 | $2M | 0.1% | 2026-Q2 |
| VELA Investment Management, LLC added | 26,091 | $1M | 0.1% | 2026-Q2 |
| SEI INVESTMENTS CO trimmed | 26,013 | $1M | 0.1% | 2026-Q2 |
| CITIGROUP INC added | 25,462 | $1M | 0.1% | 2026-Q2 |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.