SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

BAILARD, INC.'s Holding History (CIK: 0000750641)

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

Q4 2025

Shares 43,374 Value ($000) $6,982 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 43,173 Value ($000) $6,416 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 42,076 Value ($000) $4,853 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 48,050 Value ($000) $4,588 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 48,575 Value ($000) $5,165 Avg Close $97.26 Range $77.12 - $120.72

Q3 2024

Shares 48,332 Value ($000) $3,873 Avg Close $69.07 Range $48.56 - $81.15

Q2 2024

Shares 48,126 Value ($000) $3,179 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 34,150 Value ($000) $2,635 Avg Close $79.00 Range $70.61 - $91.57

Q4 2023

Shares 33,910 Value ($000) $2,642 Avg Close $63.86 Range $45.50 - $79.99

Q1 2021

Shares 243 Value ($000) $269 Avg Close $120.82 Range $100.51 - $149.97

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	43,374	$6,982	$160.56	$136.18 - $182.19
Q3 2025	43,173	$6,416	$135.57	$111.33 - $159.01
Q2 2025	42,076	$4,853	$100.02	$69.84 - $117.36
Q1 2025	48,050	$4,588	$108.97	$89.10 - $129.38
Q4 2024	48,575	$5,165	$97.26	$77.12 - $120.72
Q3 2024	48,332	$3,873	$69.07	$48.56 - $81.15
Q2 2024	48,126	$3,179	$66.33	$56.31 - $79.29
Q1 2024	34,150	$2,635	$79.00	$70.61 - $91.57
Q4 2023	33,910	$2,642	$63.86	$45.50 - $79.99
Q1 2021	243	$269	$120.82	$100.51 - $149.97