SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

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

Q1 2025

Shares 4,303 Value ($000) $411 Avg Close $108.97 Range $89.10 - $129.38

Q4 2023

Shares 6,479 Value ($000) $505 Avg Close $63.86 Range $45.50 - $79.99

Q2 2023

Shares 15,500 Value ($000) $1,001 Avg Close $56.53 Range $43.50 - $67.36

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2025	4,303	$411	$108.97	$89.10 - $129.38
Q4 2023	6,479	$505	$63.86	$45.50 - $79.99
Q2 2023	15,500	$1,001	$56.53	$43.50 - $67.36