Shopify Inc

CUSIP: 82509L958 Class: EQUITY

Holders for Q4 2025 Position Changes for Q4 2025

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

Institution	Shares	Value ($000)
Police & Firemen's Retirement System of New Jersey	164,906	$26,587
Total (1 institutions)	164,906	$26,587