SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

GABLES CAPITAL MANAGEMENT INC.'s Holding History (CIK: 0001740839)

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

Q4 2025

Shares 12,420 Value ($000) $1,999 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 8,300 Value ($000) $1,233 Avg Close $135.57 Range $111.33 - $159.01

Q2 2025

Shares 8,400 Value ($000) $969 Avg Close $100.02 Range $69.84 - $117.36

Q1 2025

Shares 9,450 Value ($000) $902 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 9,450 Value ($000) $1,005 Avg Close $97.26 Range $77.12 - $120.72

Q3 2024

Shares 9,850 Value ($000) $789 Avg Close $69.07 Range $48.56 - $81.15

Q2 2024

Shares 14,550 Value ($000) $961 Avg Close $66.33 Range $56.31 - $79.29

Q1 2024

Shares 16,460 Value ($000) $1,270 Avg Close $79.00 Range $70.61 - $91.57

Q4 2023

Shares 16,790 Value ($000) $1,308 Avg Close $63.86 Range $45.50 - $79.99

Q3 2023

Shares 16,790 Value ($000) $916 Avg Close $60.59 Range $50.59 - $71.43

Q2 2023

Shares 17,090 Value ($000) $1,104 Avg Close $56.53 Range $43.50 - $67.36

Q1 2023

Shares 18,240 Value ($000) $874 Avg Close $44.00 Range $34.65 - $54.66

Q4 2022

Shares 18,240 Value ($000) $633 Avg Close $34.15 Range $23.63 - $45.06

Q3 2022

Shares 18,590 Value ($000) $501 Avg Close $34.02 Range $26.38 - $45.43

Q2 2022

Shares 19,690 Value ($000) $615 Avg Close $42.70 Range $29.76 - $74.13

Q1 2022

Shares 1,954 Value ($000) $1,321 Avg Close $82.11 Range $51.00 - $139.37

Q4 2021

Shares 1,956 Value ($000) $2,694 Avg Close $146.12 Range $127.19 - $176.29

Q3 2021

Shares 1,956 Value ($000) $2,652 Avg Close $149.84 Range $134.11 - $165.00

Q2 2021

Shares 1,976 Value ($000) $2,887 Avg Close $123.22 Range $102.51 - $155.22

Q1 2021

Shares 2,991 Value ($000) $3,310 Avg Close $120.82 Range $100.51 - $149.97

Q4 2020

Shares 3,185 Value ($000) $3,605 Avg Close $104.97 Range $87.50 - $128.52

Q3 2020

Shares 3,345 Value ($000) $3,422 Avg Close $99.42 Range $83.94 - $114.69

Q2 2020

Shares 3,380 Value ($000) $3,208 Avg Close $69.41 Range $33.45 - $95.88

Q1 2020

Shares 3,535 Value ($000) $1,475 Avg Close $45.08 Range $30.53 - $59.39

Q4 2019

Shares 3,875 Value ($000) $1,542 Avg Close $33.82 Range $28.21 - $41.66

Q3 2019

Shares 2,930 Value ($000) $914 Avg Close $34.24 Range $28.61 - $40.96

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	12,420	$1,999	$160.56	$136.18 - $182.19
Q3 2025	8,300	$1,233	$135.57	$111.33 - $159.01
Q2 2025	8,400	$969	$100.02	$69.84 - $117.36
Q1 2025	9,450	$902	$108.97	$89.10 - $129.38
Q4 2024	9,450	$1,005	$97.26	$77.12 - $120.72
Q3 2024	9,850	$789	$69.07	$48.56 - $81.15
Q2 2024	14,550	$961	$66.33	$56.31 - $79.29
Q1 2024	16,460	$1,270	$79.00	$70.61 - $91.57
Q4 2023	16,790	$1,308	$63.86	$45.50 - $79.99
Q3 2023	16,790	$916	$60.59	$50.59 - $71.43
Q2 2023	17,090	$1,104	$56.53	$43.50 - $67.36
Q1 2023	18,240	$874	$44.00	$34.65 - $54.66
Q4 2022	18,240	$633	$34.15	$23.63 - $45.06
Q3 2022	18,590	$501	$34.02	$26.38 - $45.43
Q2 2022	19,690	$615	$42.70	$29.76 - $74.13
Q1 2022	1,954	$1,321	$82.11	$51.00 - $139.37
Q4 2021	1,956	$2,694	$146.12	$127.19 - $176.29
Q3 2021	1,956	$2,652	$149.84	$134.11 - $165.00
Q2 2021	1,976	$2,887	$123.22	$102.51 - $155.22
Q1 2021	2,991	$3,310	$120.82	$100.51 - $149.97
Q4 2020	3,185	$3,605	$104.97	$87.50 - $128.52
Q3 2020	3,345	$3,422	$99.42	$83.94 - $114.69
Q2 2020	3,380	$3,208	$69.41	$33.45 - $95.88
Q1 2020	3,535	$1,475	$45.08	$30.53 - $59.39
Q4 2019	3,875	$1,542	$33.82	$28.21 - $41.66
Q3 2019	2,930	$914	$34.24	$28.61 - $40.96