SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

MAKENA CAPITAL MANAGEMENT LLC's Holding History (CIK: 0001359262)

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

Q2 2022

Shares 169,540 Value ($000) $5,296 Avg Close $42.70 Range $29.76 - $74.13

Q1 2022

Shares 16,954 Value ($000) $11,460 Avg Close $82.11 Range $51.00 - $139.37

Q4 2021

Shares 14,223 Value ($000) $19,591 Avg Close $146.12 Range $127.19 - $176.29

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2022	169,540	$5,296	$42.70	$29.76 - $74.13
Q1 2022	16,954	$11,460	$82.11	$51.00 - $139.37
Q4 2021	14,223	$19,591	$146.12	$127.19 - $176.29