SPS Commerce, Inc.
US ˙ NasdaqGS ˙ US78463M1071

SecuritySPSC / SPS Commerce, Inc.
InstitutionFenimore Asset Management Inc
Latest Disclosed Ownership197,041 shares
Latest Disclosed Value $ 10,969,272
Fenimore Asset Management Inc reports 19.50% increase in ownership of SPSC / SPS Commerce, Inc.

On May 15, 2026 - Fenimore Asset Management Inc filed a 13F-HR form disclosing ownership of 197,041 shares of SPS Commerce, Inc. (US:SPSC) valued at $10,969,272 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 2, 2026 disclosing 164,884 shares of SPS Commerce, Inc.. This represents a change in shares of 19.50% during the quarter. The current value of the position is $10,929,864 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 197,041 32,157 19.50 10,969 -25.36 0.2446
2026-02-02 2025-12-31 13F SPS Commerce COM 78463M107 164,884 18,996 13.02 14,696 -3.26 0.3060
2025-10-20 2025-09-30 13F SPS Commerce COM 78463M107 145,888 22,036 17.79 15,193 -9.87 0.3046
2025-07-22 2025-06-30 13F SPS Commerce COM 78463M107 123,852 -63 -0.05 16,855 2.48 0.3364
2025-04-14 2025-03-31 13F SPS Commerce COM 78463M107 123,915 38,463 45.01 16,447 4.61 0.3483
2025-01-21 2024-12-31 13F SPS Commerce COM 78463M107 85,452 -434 -0.51 15,722 -5.72 0.3303
2024-11-14 2024-09-30 13F SPS Commerce COM 78463M107 85,886 -460 -0.53 16,676 2.65 0.3359
2024-08-14 2024-06-30 13F SPS Commerce COM 78463M107 86,346 150 0.17 16,247 1.94 0.3559
2024-04-30 2024-03-31 13F SPS Commerce COM 78463M107 86,196 35 0.04 15,938 -4.57 0.3366
2024-01-23 2023-12-31 13F SPS Commerce COM 78463M107 86,161 350 0.41 16,701 14.08 0.3877
2023-10-19 2023-09-30 13F SPS Commerce COM 78463M107 85,811 -5,998 -6.53 14,640 -16.97 0.3803
2023-07-25 2023-06-30 13F SPS Commerce COM 78463M107 91,809 -49 -0.05 17,633 26.04 0.4399
2023-04-20 2023-03-31 13F SPS Commerce COM 78463M107 91,858 60 0.07 13,990 127,072.73 0.3651
2023-01-17 2022-12-31 13F SPS Commerce COM 78463M107 91,798 -840 -0.91 12 -99.90 0.3170
2022-10-25 2022-09-30 13F SPS Commerce COM 78463M107 92,638 1,140 1.25 11,508 11.25 0.3307
2022-07-26 2022-06-30 13F SPS Commerce COM 78463M107 91,498 875 0.97 10,344 -13.00 0.2920
2022-04-12 2022-03-31 13F SPS Commerce COM 78463M107 90,623 2,715 3.09 11,890 -4.99 0.2908
2022-01-13 2021-12-31 13F SPS Commerce COM 78463M107 87,908 -12,395 -12.36 12,514 -22.66 0.2779
2021-10-26 2021-09-30 13F SPS Commerce COM 78463M107 100,303 -3,050 -2.95 16,180 56.78 0.3977
2021-07-15 2021-06-30 13F SPS Commerce COM 78463M107 103,353 195 0.19 10,320 0.73 0.2500
2021-04-16 2021-03-31 13F SPS Commerce COM 78463M107 103,158 395 0.38 10,245 -8.19 0.2645
2021-01-28 2020-12-31 13F SPS Commerce COM 78463M107 102,763 250 0.24 11,159 39.78 0.3134
2020-10-13 2020-09-30 13F SPS Commerce COM 78463M107 102,513 0 0.00 7,983 3.66 0.2578
2020-07-28 2020-06-30 13F SPS Commerce COM 78463M107 102,513 37,668 58.09 7,701 155.34 0.2703
2020-04-24 2020-03-31 13F SPS Commerce COM 78463M107 64,845 64,845 3,016 0.1216
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.