SPS Commerce, Inc.
US ˙ NasdaqGS ˙ US78463M1071

SecuritySPSC / SPS Commerce, Inc.
InstitutionNicholas Company, Inc.
Latest Disclosed Ownership22,977 shares
Latest Disclosed Value $ 1,279,130
Nicholas Company, Inc. reports 64.33% decrease in ownership of SPSC / SPS Commerce, Inc.

On May 4, 2026 - Nicholas Company, Inc. filed a 13F-HR form disclosing ownership of 22,977 shares of SPS Commerce, Inc. (US:SPSC) valued at $1,279,130 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 64,418 shares of SPS Commerce, Inc.. This represents a change in shares of -64.33% during the quarter. The current value of the position is $1,274,534 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)
2026-05-04 2026-03-31 13F SPS Commerce COM 78463M107 22,977 -41,441 -64.33 1,279 -77.72 0.0251
2026-02-04 2025-12-31 13F SPS Commerce COM 78463M107 64,418 5,505 9.34 5,742 -6.42 0.1006
2025-11-12 2025-09-30 13F SPS Commerce COM 78463M107 58,913 3,965 7.22 6,135 -17.95 0.1041
2025-08-05 2025-06-30 13F SPS Commerce COM 78463M107 54,948 1,732 3.25 7,478 5.86 0.1252
2025-05-08 2025-03-31 13F SPS Commerce COM 78463M107 53,216 5,312 11.09 7,063 -19.86 0.1223
2025-02-10 2024-12-31 13F SPS Commerce COM 78463M107 47,904 0 0.00 8,814 -5.25 0.1427
2024-11-12 2024-09-30 13F SPS Commerce COM 78463M107 47,904 0 0.00 9,302 3.20 0.1513
2024-07-24 2024-06-30 13F SPS Commerce COM 78463M107 47,904 -45 -0.09 9,014 1.67 0.1500
2024-05-14 2024-03-31 13F SPS Commerce COM 78463M107 47,949 -2,220 -4.43 8,866 -8.83 0.1465
2024-02-13 2023-12-31 13F SPS Commerce COM 78463M107 50,169 0 0.00 9,725 13.61 0.1721
2024-02-13 2023-09-30 13F/A-1 SPS Commerce COM 78463M107 50,169 -65 -0.13 8,559 -11.28 0.1713
2023-11-13 2023-09-30 13F SPS Commerce COM 78463M107 50,169 -65 8,559 0.1713
2024-02-13 2023-06-30 13F/A-2 SPS Commerce COM 78463M107 50,234 -6,711 -11.79 9,648 11.24 0.1846
2023-10-31 2023-06-30 13F/A-1 SPS Commerce COM 78463M107 50,234 -6,711 9,648 0.1846
2023-08-08 2023-06-30 13F SPS Commerce COM 78463M107 50,234 -6,711 9,648 0.1846
2024-02-13 2023-03-31 13F/A-1 SPS Commerce COM 78463M107 56,945 -75 -0.13 8,673 18.42 0.1759
2023-05-11 2023-03-31 13F SPS Commerce COM 78463M107 56,945 -75 8,673 0.1759
2024-02-13 2022-12-31 13F/A-1 SPS Commerce COM 78463M107 57,020 0 0.00 7,323 3.39 0.1567
2023-02-09 2022-12-31 13F SPS Commerce COM 78463M107 57,020 0 7,323 0.1567
2024-02-13 2022-09-30 13F/A-1 SPS Commerce COM 78463M107 57,020 0 0.00 7,084 9.88 0.1621
2022-11-14 2022-09-30 13F SPS Commerce COM 78463M107 57,020 0 7,084 0.1621
2024-02-13 2022-06-30 13F/A-1 SPS Commerce COM 78463M107 57,020 50 0.09 6,446 -13.75 0.1408
2022-07-26 2022-06-30 13F SPS Commerce COM 78463M107 57,020 50 6,446 0.1408
2024-02-13 2022-03-31 13F/A-1 SPS Commerce COM 78463M107 56,970 2,360 4.32 7,474 -3.86 0.1333
2022-05-11 2022-03-31 13F SPS Commerce COM 78463M107 56,970 2,360 7,474 0.1333
2022-02-11 2021-12-31 13F SPS Commerce COM 78463M107 54,610 1,710 3.23 7,774 -8.89 0.1265
2021-11-15 2021-09-30 13F SPS Commerce COM 78463M107 52,900 10 0.02 8,533 61.58 0.1503
2021-08-12 2021-06-30 13F SPS Commerce COM 78463M107 52,890 52,890 5,281 0.0928
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.