SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY's Holding History (CIK: 0000714142)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 197,466 Value ($000) $32 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 263,454 Value ($000) $39 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 268,754 Value ($000) $31 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 339,330 Value ($000) $32 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 342,030 Value ($000) $36 Avg Close $97.26 Range $77.12 - $120.72

Q3 2024

Shares 342,030 Value ($000) $27 Avg Close $69.07 Range $48.56 - $81.15

Q2 2024

Shares 264,530 Value ($000) $17 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 361,530 Value ($000) $28 Avg Close $79.00 Range $70.61 - $91.57

Q4 2023

Shares 423,030 Value ($000) $33 Avg Close $63.86 Range $45.50 - $79.99

Q3 2023

Shares 494,882 Value ($000) $27 Avg Close $60.59 Range $50.59 - $71.43

Q2 2023

Shares 498,100 Value ($000) $32 Avg Close $56.53 Range $43.50 - $67.36

Q1 2023

Shares 550,600 Value ($000) $26 Avg Close $44.00 Range $34.65 - $54.66

Q4 2022

Shares 509,900 Value ($000) $18 Avg Close $34.15 Range $23.63 - $45.06

Q3 2022

Shares 522,900 Value ($000) $14,088 Avg Close $34.02 Range $26.38 - $45.43

Q1 2022

Shares 44,240 Value ($000) $29,904 Avg Close $82.11 Range $51.00 - $139.37

Q4 2021

Shares 44,240 Value ($000) $60,935 Avg Close $146.12 Range $127.19 - $176.29

Q3 2021

Shares 45,040 Value ($000) $61,064 Avg Close $149.84 Range $134.11 - $165.00

Q2 2021

Shares 45,190 Value ($000) $66,021 Avg Close $123.22 Range $102.51 - $155.22

Q1 2021

Shares 46,391 Value ($000) $51,331 Avg Close $120.82 Range $100.51 - $149.97

Q4 2020

Shares 45,091 Value ($000) $51,041 Avg Close $104.97 Range $87.50 - $128.52

Q3 2020

Shares 45,291 Value ($000) $46,332 Avg Close $99.42 Range $83.94 - $114.69

Q2 2020

Shares 46,391 Value ($000) $44,033 Avg Close $69.41 Range $33.45 - $95.88

Q1 2020

Shares 46,621 Value ($000) $19,437 Avg Close $45.08 Range $30.53 - $59.39

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	197,466	$32	$160.56	$136.18 - $182.19
Q3 2025	263,454	$39	$135.57	$111.33 - $159.01
Q2 2025	268,754	$31	$100.02	$69.84 - $117.36
Q1 2025	339,330	$32	$108.97	$89.10 - $129.38
Q4 2024	342,030	$36	$97.26	$77.12 - $120.72
Q3 2024	342,030	$27	$69.07	$48.56 - $81.15
Q2 2024	264,530	$17	$66.33	$56.31 - $79.29
Q1 2024	361,530	$28	$79.00	$70.61 - $91.57
Q4 2023	423,030	$33	$63.86	$45.50 - $79.99
Q3 2023	494,882	$27	$60.59	$50.59 - $71.43
Q2 2023	498,100	$32	$56.53	$43.50 - $67.36
Q1 2023	550,600	$26	$44.00	$34.65 - $54.66
Q4 2022	509,900	$18	$34.15	$23.63 - $45.06
Q3 2022	522,900	$14,088	$34.02	$26.38 - $45.43
Q1 2022	44,240	$29,904	$82.11	$51.00 - $139.37
Q4 2021	44,240	$60,935	$146.12	$127.19 - $176.29
Q3 2021	45,040	$61,064	$149.84	$134.11 - $165.00
Q2 2021	45,190	$66,021	$123.22	$102.51 - $155.22
Q1 2021	46,391	$51,331	$120.82	$100.51 - $149.97
Q4 2020	45,091	$51,041	$104.97	$87.50 - $128.52
Q3 2020	45,291	$46,332	$99.42	$83.94 - $114.69
Q2 2020	46,391	$44,033	$69.41	$33.45 - $95.88
Q1 2020	46,621	$19,437	$45.08	$30.53 - $59.39