SHOPIFY INC

Ticker: SHOP CUSIP: 82509L107 Class: CL A

Baer Investment Advisory LLC's Holding History (CIK: 0002057153)

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

Q4 2025

Shares 10,503 Value ($000) $1,691 Avg Close $160.56 Range $136.18 - $182.19

Q3 2025

Shares 10,933 Value ($000) $1,625 Avg Close $135.57 Range $111.33 - $159.01

Q1 2025

Shares 31,684 Value ($000) $3,094 Avg Close $108.97 Range $89.10 - $129.38

Q4 2024

Shares 31,604 Value ($000) $4,056 Avg Close $97.26 Range $77.12 - $120.72

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	10,503	$1,691	$160.56	$136.18 - $182.19
Q3 2025	10,933	$1,625	$135.57	$111.33 - $159.01
Q1 2025	31,684	$3,094	$108.97	$89.10 - $129.38
Q4 2024	31,604	$4,056	$97.26	$77.12 - $120.72