SPS Commerce, Inc.
US ˙ NasdaqGS ˙ US78463M1071

SecuritySPSC / SPS Commerce, Inc.
InstitutionAmerican Capital Management Inc
Latest Disclosed Ownership86,076 shares
Latest Disclosed Value $ 4,791,851
American Capital Management Inc reports 71.94% decrease in ownership of SPSC / SPS Commerce, Inc.

On May 15, 2026 - American Capital Management Inc filed a 13F-HR form disclosing ownership of 86,076 shares of SPS Commerce, Inc. (US:SPSC) valued at $4,791,851 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 306,786 shares of SPS Commerce, Inc.. This represents a change in shares of -71.94% during the quarter. The current value of the position is $4,774,636 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 COMMERCE COM 78463M107 86,076 -220,710 -71.94 4,792 -82.48 0.2574
2026-02-17 2025-12-31 13F SPS COMMERCE COM 78463M107 306,786 23,311 8.22 27,344 -7.38 1.2065
2025-11-14 2025-09-30 13F SPS COMMERCE COM 78463M107 283,475 51,008 21.94 29,521 -6.69 1.1761
2025-08-14 2025-06-30 13F SPS Commerce COM 78463M107 232,467 -30,970 -11.76 31,636 -9.52 1.3122
2025-05-15 2025-03-31 13F SPS Commerce COM 78463M107 263,437 57,717 28.06 34,966 -7.62 1.4228
2025-02-11 2024-12-31 13F SPS Commerce COM 78463M107 205,720 37,313 22.16 37,850 15.75 1.4090
2024-11-14 2024-09-30 13F SPS Commerce COM 78463M107 168,407 -6,931 -3.95 32,700 -0.89 1.0692
2024-08-14 2024-06-30 13F SPS Commerce COM 78463M107 175,338 649 0.37 32,992 2.14 1.1043
2024-05-15 2024-03-31 13F SPS Commerce COM 78463M107 174,689 7,397 4.42 32,300 -0.39 1.0354
2024-02-14 2023-12-31 13F SPS Commerce COM 78463M107 167,292 -761 -0.45 32,428 13.10 1.1091
2023-11-14 2023-09-30 13F SPS Commerce COM 78463M107 168,053 -6,001 -3.45 28,672 -14.23 1.1053
2023-08-14 2023-06-30 13F SPS Commerce COM 78463M107 174,054 -4,322 -2.42 33,429 23.05 1.1609
2023-05-03 2023-03-31 13F SPS Commerce COM 78463M107 178,376 -138 -0.08 27,167 18.49 0.9561
2023-02-14 2022-12-31 13F SPS Commerce COM 78463M107 178,514 -8,359 -4.47 22,927 -1.24 0.8977
2022-11-14 2022-09-30 13F SPS Commerce COM 78463M107 186,873 6,843 3.80 23,215 14.07 0.9163
2022-08-15 2022-06-30 13F SPS Commerce COM 78463M107 180,030 -643 -0.36 20,352 -14.14 0.7627
2022-05-16 2022-03-31 13F SPS Commerce COM 78463M107 180,673 105,296 139.69 23,704 120.91 0.6990
2022-02-14 2021-12-31 13F SPS Commerce COM 78463M107 75,377 1,387 1.87 10,730 -10.10 0.2755
2021-11-15 2021-09-30 13F SPS Commerce COM 78463M107 73,990 -305 -0.41 11,935 60.89 0.3205
2021-08-13 2021-06-30 13F SPS Commerce COM 78463M107 74,295 5,944 8.70 7,418 9.28 0.2077
2021-05-17 2021-03-31 13F SPS Commerce COM 78463M107 68,351 54 0.08 6,788 -8.47 0.2052
2021-02-16 2020-12-31 13F SPS Commerce COM 78463M107 68,297 625 0.92 7,416 40.72 0.2218
2020-11-16 2020-09-30 13F SPS Commerce COM 78463M107 67,672 237 0.35 5,270 4.03 0.1937
2020-08-13 2020-06-30 13F SPS Commerce COM 78463M107 67,435 -610 -0.90 5,066 60.06 0.1863
2020-05-15 2020-03-31 13F SPS Commerce COM 78463M107 68,045 34,560 103.21 3,165 70.53 0.1540
2020-02-12 2019-12-31 13F SPS Commerce COM 78463M107 33,485 33,485 1,856 0.0778
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.