SPS Commerce, Inc.
US ˙ NasdaqGS ˙ US78463M1071

SecuritySPSC / SPS Commerce, Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership960,880 shares
Latest Disclosed Value $ 53,492,276
Morgan Stanley reports 10.19% increase in ownership of SPSC / SPS Commerce, Inc.

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 960,880 shares of SPS Commerce, Inc. (US:SPSC) valued at $53,492,190 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 872,018 shares of SPS Commerce, Inc.. This represents a change in shares of 10.19% during the quarter. The current value of the position is $53,376,884 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F SPS COMM COM 78463M107 960,880 88,862 10.19 53,492 -31.18 0.0032
2026-05-27 2025-12-31 13F/A-1 SPS COMM COM 78463M107 872,018 -101,642 -10.44 77,723 -23.35 0.0046
2026-02-13 2025-12-31 13F SPS COMM COM 78463M107 872,018 -101,642 77,723 0.0046
2026-05-27 2025-09-30 13F/A-1 SPS COMM COM 78463M107 973,660 37,500 4.01 101,397 -20.41 0.0061
2025-11-14 2025-09-30 13F SPS COMM COM 78463M107 973,660 37,500 101,397 0.0061
2025-08-15 2025-06-30 13F SPS COMM COM 78463M107 936,160 105,660 12.72 127,402 15.58 0.0083
2025-05-15 2025-03-31 13F SPS COMM COM 78463M107 830,500 -7,969 -0.95 110,233 -28.55 0.0079
2025-05-15 2024-12-31 13F/A-1 SPS COMM COM 78463M107 838,469 22,048 2.70 154,270 -2.68 0.0108
2025-02-14 2024-12-31 13F SPS COMM COM 78463M107 838,469 22,048 154,270 0.0108
2025-05-14 2024-09-30 13F/A-2 SPS COMM COM 78463M107 816,421 193,333 31.03 158,525 35.21 0.0115
2025-02-14 2024-09-30 13F/A-1 SPS COMM COM 78463M107 816,421 193,333 158,525 0.0115
2024-11-14 2024-09-30 13F SPS COMM COM 78463M107 816,421 193,333 158,525 0.0115
2025-05-14 2024-06-30 13F/A-2 SPS COMM COM 78463M107 623,088 22,681 3.78 117,241 5.61 0.0091
2024-10-17 2024-06-30 13F/A-1 SPS COMM COM 78463M107 623,088 22,681 117,241 0.0091
2024-08-14 2024-06-30 13F SPS COMM COM 78463M107 623,088 22,681 117,241 0.0091
2024-10-17 2024-03-31 13F/A-2 SPS COMM COM 78463M107 600,407 -80,258 -11.79 111,016 -15.86 0.0089
2024-08-16 2024-03-31 13F/A-1 SPS COMM COM 78463M107 600,407 -80,258 111,016 0.0010
2024-05-15 2024-03-31 13F SPS COMM COM 78463M107 600,407 -80,258 111,016 0.0089
2024-08-16 2023-12-31 13F/A-1 SPS COMM COM 78463M107 680,665 -17,981 -2.57 131,941 10.69 0.0116
2024-02-13 2023-12-31 13F SPS COMM COM 78463M107 680,665 -17,981 131,941 0.0116
2023-11-15 2023-09-30 13F SPS COMM COM 78463M107 698,646 -22,652 -3.14 119,197 -13.96 0.0121
2023-08-14 2023-06-30 13F SPS COMM COM 78463M107 721,298 -116,316 -13.89 138,533 8.59 0.0137
2023-05-15 2023-03-31 13F SPS COMM COM 78463M107 837,614 37,388 4.67 127,569 24.13 0.0137
2023-02-14 2022-12-31 13F SPS COMM COM 78463M107 800,226 488,227 156.48 102,773 165.16 0.0117
2022-11-14 2022-09-30 13F SPS COMM COM 78463M107 311,999 -12,488 -3.85 38,759 5.66 0.0053
2022-10-27 2022-06-30 13F/A-1 SPS COMM COM 78463M107 324,487 152,408 88.57 36,684 62.48 0.0048
2022-08-15 2022-06-30 13F SPS COMM COM 78463M107 324,487 152,408 36,684 0.0010
2022-10-27 2022-03-31 13F/A-1 SPS COMM COM 78463M107 172,079 -20,427 -10.61 22,577 -17.61 0.0030
2022-05-13 2022-03-31 13F SPS COMM COM 78463M107 172,079 -20,427 22,577 0.0030
2022-02-14 2021-12-31 13F SPS COMM COM 78463M107 192,506 19,231 11.10 27,403 -1.96 0.0034
2021-11-15 2021-09-30 13F SPS COMM COM 78463M107 173,275 -140,948 -44.86 27,950 -10.92 0.0038
2021-08-23 2021-06-30 13F/A-1 SPS COMM COM 78463M107 314,223 4,382 1.41 31,375 1.97 0.0041
2021-08-16 2021-06-30 13F SPS COMM COM 78463M107 314,223 4,382 31,375 0.0009
2021-05-17 2021-03-31 13F SPS COMM COM 78463M107 309,841 143,385 86.14 30,770 70.23 0.0045
2021-02-16 2020-12-31 13F SPS COMMERCE COM 78463M107 166,456 53,355 47.17 18,076 105.22 0.0028
2020-11-13 2020-09-30 13F SPS COMMERCE COM 78463M107 113,101 -3,050 -2.63 8,808 0.95 0.0017
2020-08-14 2020-06-30 13F SPS COMMERCE COM 78463M107 116,151 -295,230 -71.77 8,725 -54.40 0.0019
2020-05-26 2020-03-31 13F/A-1 SPS COMMERCE COM 78463M107 411,381 33,685 8.92 19,133 -8.59 0.0052
2020-05-15 2020-03-31 13F SPS COMMERCE COM 78463M107 411,381 33,685 19,133 1,469.8133
2020-02-14 2019-12-31 13F SPS COMMERCE COM 78463M107 377,696 214,267 131.11 20,932 172.09 0.0049
2019-11-14 2019-09-30 13F SPS COMMERCE COM 78463M107 163,429 8,267 5.33 7,693 -51.49 0.0020
2019-08-14 2019-06-30 13F SPS COMMERCE COM 78463M107 155,162 -75,523 -32.74 15,860 -35.18 0.0042
2019-05-15 2019-03-31 13F SPS COMMERCE COM 78463M107 230,685 108,018 88.06 24,466 142.09 0.0069
2019-02-14 2018-12-31 13F SPS COMM COM 78463M107 122,667 82,781 207.54 10,106 155.40 0.0030
2019-04-23 2018-09-30 13F/A-2 SPS COMM COM 78463M107 39,886 -93,160 -70.02 3,957 -59.52 0.0010
2018-11-20 2018-09-30 13F/A-1 SPS COMM COM 78463M107 39,886 0 3,957 0.0010
2018-11-14 2018-09-30 13F SPS COMM COM 78463M107 39,886 -93,160 3,957
2019-04-23 2018-06-30 13F/A-1 SPS COMM COM 78463M107 133,046 67,273 102.28 9,775 131.91 0.0026
2018-08-14 2018-06-30 13F SPS COMM COM 78463M107 133,046 67,273 9,775
2019-04-23 2018-03-31 13F/A-1 SPS COMM COM 78463M107 65,773 -31,146 -32.14 4,215 -10.51 0.0012
2018-05-14 2018-03-31 13F SPS COMM COM 78463M107 65,773 -31,146 4,215
2019-04-23 2017-12-31 13F/A-1 SPS COMM COM 78463M107 96,919 28,683 42.03 4,710 21.74 0.0013
2018-02-14 2017-12-31 13F SPS COMM COM 78463M107 96,919 28,683 4,710
2017-11-14 2017-09-30 13F SPS COMM COM 78463M107 68,236 34,669 103.28 3,869 80.71 0.0012
2017-08-11 2017-06-30 13F SPS COMM COM 78463M107 33,567 -6,256 -15.71 2,141 -8.11 0.0006
2017-05-22 2017-03-31 13F/A-1 SPS COMM COM 78463M107 39,823 -27,680 -41.01 2,330 -50.61 0.0007
2017-05-12 2017-03-31 13F SPS COMM COM 78463M107 39,823 2,330
2017-02-22 2016-12-31 13F/A-1 SPS COMM COM 78463M107 67,503 6,799 11.20 4,718 5.86 0.0015
2017-02-13 2016-12-31 13F SPS COMM COM 78463M107 67,503 4,718
2016-11-10 2016-09-30 13F SPS COMM COM 78463M107 60,704 40,832 205.48 4,457 270.18 0.0015
2016-08-12 2016-06-30 13F SPS COMM COM 78463M107 19,872 -67,064 -77.14 1,204 -67.75 0.0004
2016-05-12 2016-03-31 13F SPS COMM COM 78463M107 86,936 62,969 262.73 3,733 121.81 0.0014
2016-02-09 2015-12-31 13F SPS COMM COM 78463M107 23,967 -471 -1.93 1,683 1.45 0.0006
2016-02-08 2015-09-30 13F/A-1 SPS COMM COM 78463M107 24,438 -278 -1.12 1,659 1.97 0.0006
2015-11-09 2015-09-30 13F SPS COMM COM 78463M107 24,438 1,659
2015-08-12 2015-06-30 13F SPS COMM COM 78463M107 24,716 -2,017 -7.54 1,627 -9.26 0.0006
2015-05-14 2015-03-31 13F SPS COMM COM 78463M107 26,733 360 1.37 1,793 20.01 0.0007
2015-02-13 2014-12-31 13F SPS COMM COM 78463M107 26,373 -2,155 -7.55 1,494 -1.45 0.0005
2014-12-16 2014-09-30 13F/A-1 SPS COMM COM 78463M107 28,528 -1,233 -4.14 1,516 -17.07 0.0006
2014-11-14 2014-09-30 13F SPS COMM COM 78463M107 28,528 1,516
2014-05-13 2014-03-31 13F SPS COMM COM 78463M107 29,761 -3,771 -11.25 1,828 -16.49 0.0008
2014-02-13 2013-12-31 13F SPS COMM COM 78463M107 33,532 -1,412 -4.04 2,189 -6.41 0.0009
2013-11-13 2013-09-30 13F SPS COMMERCE COM 78463M107 34,944 -8,492 -19.55 2,339 -2.09 0.0011
2013-08-08 2013-06-30 13F SPS COMMERCE COM 78463M107 43,436 43,436 2,389 0.0012
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.