SPS Commerce, Inc.
US ˙ NasdaqGS ˙ US78463M1071

SecuritySPSC / SPS Commerce, Inc.
InstitutionDeutsche Bank Ag\
Latest Disclosed Ownership73,896 shares
Latest Disclosed Value $ 4,113,790
Deutsche Bank Ag\ reports 1.76% decrease in ownership of SPSC / SPS Commerce, Inc.

On May 6, 2026 - Deutsche Bank Ag\ filed a 13F-HR form disclosing ownership of 73,896 shares of SPS Commerce, Inc. (US:SPSC) valued at $4,113,790 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 11, 2026 disclosing 75,221 shares of SPS Commerce, Inc.. This represents a change in shares of -1.76% during the quarter. The current value of the position is $4,099,011 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)
2026-05-06 2026-03-31 13F SPS COMM COM 78463M107 73,896 -1,325 -1.76 4,114 -38.65 0.0014
2026-02-11 2025-12-31 13F SPS COMM COM 78463M107 75,221 -59,679 -44.24 6,704 -52.28 0.0022
2025-11-13 2025-09-30 13F SPS COMM COM 78463M107 134,900 48,207 55.61 14,048 19.07 0.0047
2025-08-12 2025-06-30 13F SPS COMM COM 78463M107 86,693 -19,708 -18.52 11,798 -16.46 0.0043
2025-05-09 2025-03-31 13F SPS COMM COM 78463M107 106,401 33,239 45.43 14,123 4.91 0.0056
2025-06-30 2024-12-31 13F/A-1 SPS COMM COM 78463M107 73,162 11,730 19.09 13,461 12.85 0.0053
2025-02-14 2024-12-31 13F SPS COMM COM 78463M107 73,162 11,730 13,461 0.0053
2025-06-26 2024-09-30 13F/A-1 SPS COMM COM 78463M107 61,432 4,356 7.63 11,928 11.07 0.0049
2024-11-13 2024-09-30 13F SPS COMM COM 78463M107 61,432 4,356 11,928 0.0049
2025-06-12 2024-06-30 13F/A-1 SPS COMM COM 78463M107 57,076 11,852 26.21 10,739 28.44 0.0048
2024-08-14 2024-06-30 13F SPS COMM COM 78463M107 57,076 11,852 10,739 0.0048
2025-06-02 2024-03-31 13F/A-1 SPS COMM COM 78463M107 45,224 -51 -0.11 8,362 -4.73 0.0039
2024-05-15 2024-03-31 13F SPS COMM COM 78463M107 45,224 -51 8,362 0.0039
2024-02-14 2023-12-31 13F SPS COMM COM 78463M107 45,275 -45 -0.10 8,776 13.50 0.0045
2023-11-24 2023-09-30 13F/A-1 SPS COMM COM 78463M107 45,320 2,601 6.09 7,732 -5.75 0.0050
2023-11-09 2023-09-30 13F SPS COMM COM 78463M107 45,320 2,601 7,732 0.0010
2023-08-14 2023-06-30 13F SPS COMM COM 78463M107 42,719 -8,486 -16.57 8,205 5.21 0.0044
2023-05-15 2023-03-31 13F SPS COMM COM 78463M107 51,205 7,154 16.24 7,799 37.85 0.0043
2023-02-13 2022-12-31 13F SPS COMM COM 78463M107 44,051 2,004 4.77 5,657 8.31 0.0033
2022-11-14 2022-09-30 13F SPS COMM COM 78463M107 42,047 -3,343 -7.37 5,223 1.77 0.0032
2022-08-11 2022-06-30 13F SPS COMM COM 78463M107 45,390 -2,940 -6.08 5,132 -19.05 0.0029
2022-05-13 2022-03-31 13F SPS COMM COM 78463M107 48,330 -1,947 -3.87 6,340 -11.40 0.0030
2022-02-16 2021-12-31 13F/A-1 SPS COMMERCE COM 78463M107 50,277 -37,154 -42.50 7,156 -49.26 0.0032
2022-02-11 2021-12-31 13F SPS COMMERCE COM 78463M107 50,277 -37,154 7,156 0.0004
2021-11-04 2021-09-30 13F SPS COMMERCE COM 78463M107 87,431 -31,518 -26.50 14,103 18.74 0.0067
2021-08-11 2021-06-30 13F SPS COMMERCE COM 78463M107 118,949 19,147 19.18 11,877 19.84 0.0058
2021-05-13 2021-03-31 13F SPS COMMERCE COM 78463M107 99,802 23,777 31.28 9,911 20.06 0.0053
2021-02-16 2020-12-31 13F SPS COMMERCE COM 78463M107 76,025 -7,834 -9.34 8,255 26.42 0.0050
2020-11-12 2020-09-30 13F SPS COMMERCE COM 78463M107 83,859 -25,313 -23.19 6,530 -20.38 0.0045
2020-08-13 2020-06-30 13F SPS COMMERCE COM 78463M107 109,172 -206,954 -65.47 8,201 -44.22 0.0062
2020-05-14 2020-03-31 13F SPS COMMERCE COM 78463M107 316,126 176,265 126.03 14,703 89.74 0.0131
2020-02-14 2019-12-31 13F SPS COMMERCE COM 78463M107 139,861 95,694 216.66 7,749 272.91 0.0050
2019-11-14 2019-09-30 13F SPS COMMERCE COM 78463M107 44,167 -102,730 -69.93 2,078 -86.16 0.0014
2019-08-14 2019-06-30 13F SPS COMMERCE COM 78463M107 146,897 -45,968 -23.83 15,013 -26.60 0.0088
2019-05-15 2019-03-31 13F SPS COMMERCE COM 78463M107 192,865 45,385 30.77 20,453 68.38 0.0122
2019-04-01 2018-12-31 13F/A-1 SPS COMM COM 78463M107 147,480 29,897 25.43 12,147 4.10 0.0086
2019-02-14 2018-12-31 13F SPS COMM COM 78463M107 147,480 82,802 12,147
2021-12-21 2018-09-30 13F/A-1 SPS COMMERCE COM 78463M107 117,583 41,300 54.14 11,669 108.15 0.0059
2018-11-14 2018-09-30 13F SPS COMM COM 78463M107 64,678 -11,605 6,417 0.0044
2020-04-21 2018-06-30 13F/A-1 SPS COMM COM 78463M107 76,283 11,220 17.24 5,606 34.53 0.0028
2018-08-14 2018-06-30 13F SPS COMM COM 78463M107 41,041 -24,022 3,014 2,001.8913
2019-10-23 2018-03-31 13F/A-2 SPS COMM COM 78463M107 65,063 -72,015 -52.54 4,167 -37.42 0.0020
2019-10-18 2018-03-31 13F/A-1 SPS COMM COM 78463M107 65,063 0 4,167 0.0020
2018-05-15 2018-03-31 13F SPS COMM COM 78463M107 23,663 -113,415 1,514
2018-02-14 2017-12-31 13F SPS COMM COM 78463M107 137,078 64,173 88.02 6,659 61.12 0.0043
2017-11-14 2017-09-30 13F SPS COMM COM 78463M107 72,905 36,995 103.02 4,133 80.72 0.0028
2017-08-11 2017-06-30 13F SPS COMM COM 78463M107 35,910 -18,308 -33.77 2,287 -27.85 0.0016
2017-05-15 2017-03-31 13F SPS COMM COM 78463M107 54,218 219 0.41 3,170 -15.98 0.0023
2017-02-14 2016-12-31 13F SPS COMM COM 78463M107 53,999 -7,761 -12.57 3,773 -16.75 0.0030
2016-11-14 2016-09-30 13F SPS COMM COM 78463M107 61,760 58,114 1,593.91 4,532 1,960.00 0.0032
2016-08-15 2016-06-30 13F SPS COMM COM 78463M107 3,646 -57,526 -94.04 220 -91.62 0.0002
2016-05-16 2016-03-31 13F SPS COMM COM 78463M107 61,172 56,990 1,362.75 2,625 798.97 0.0020
2016-02-16 2015-12-31 13F SPS COMM COM 78463M107 4,182 -1,444 -25.67 292 -23.16 0.0002
2015-11-17 2015-09-30 13F SPS COMM COM 78463M107 5,626 438 8.44 380 11.44 0.0003
2015-08-12 2015-06-30 13F SPS COMM COM 78463M107 5,188 -31,402 -85.82 341 -86.10 0.0002
2015-05-15 2015-03-31 13F SPS COMM COM 78463M107 36,590 23,880 187.88 2,454 241.78 0.0015
2015-02-13 2014-12-31 13F SPS COMM COM 78463M107 12,710 6,893 118.50 718 133.12 0.0004
2014-11-14 2014-09-30 13F SPS COMM COM 78463M107 5,817 350 6.40 308 -10.72 0.0002
2014-08-15 2014-06-30 13F SPS COMM COM 78463M107 5,467 -6,415 -53.99 345 -52.74 0.0002
2014-05-15 2014-03-31 13F SPS COMM COM 78463M107 11,882 4,215 54.98 730 46.29 0.0005
2014-02-24 2013-12-31 13F/A-1 SPS COMM COM 78463M107 7,667 -15,075 -66.29 499 -67.19 0.0004
2014-02-18 2013-12-31 13F SPS COMM COM 78463M107 7,667 499
2013-11-18 2013-09-30 13F SPS COMM COM 78463M107 22,742 22,742 1,521 0.0011
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.