SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

State of New Jersey Common Pension Fund D's Holding History (CIK: 0001483066)

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

Q3 2017
Shares 15,719 Value ($000) $1,831 Avg Close $10.21 Range $8.48 - $12.39
Q2 2017
Shares 26,488 Value ($000) $2,302 Avg Close $8.46 Range $6.72 - $10.08
Q1 2017
Shares 28,449 Value ($000) $1,937 Avg Close $5.76 Range $4.21 - $7.30
Q4 2016
Shares 35,941 Value ($000) $1,541 Avg Close $4.20 Range $3.77 - $4.54
Q3 2016
Shares 31,787 Value ($000) $1,364 Avg Close $3.82 Range $3.00 - $4.52
Q2 2016
Shares 35,515 Value ($000) $1,092 Avg Close $2.92 Range $2.50 - $3.24
Q1 2016
Shares 42,630 Value ($000) $1,203 Avg Close $2.37 Range $1.85 - $2.88