SHOPIFY INC

CUSIP: 82509LAA5 Class: NOTE 0.125%11/0

Holders for Q4 2025 Position Changes for Q4 2025

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

Exited Positions (54)

ZAZOVE ASSOCIATES LLC
Value ($000) $24,488 Shares 23,255,000
CAMDEN ASSET MANAGEMENT L P /CA
Value ($000) $85,682 Shares 81,563,000
SONA ASSET MANAGEMENT (US) LLC
Value ($000) $52,021 Shares 49,404,000
ARISTEIA CAPITAL, L.L.C.
Value ($000) $52,711 Shares 50,058,000
Aequim Alternative Investments LP
Value ($000) $52,650 Shares 50,000,000
DAVIDSON KEMPNER CAPITAL MANAGEMENT LP
Value ($000) $49,899 Shares 47,500,000
NATURAL INVESTMENTS, LLC
Value ($000) $4 Shares 24,718
CSS LLC/IL
Value ($000) $11,854 Shares 11,261,000
Shaolin Capital Management LLC
Value ($000) $12,211 Shares 11,600,000
ADVENT CAPITAL MANAGEMENT /DE/
Value ($000) $17,063 Shares 16,204,000
Walleye Capital LLC
Value ($000) $68,061 Shares 64,635,000
Skaana Management L.P.
Value ($000) $1,053 Shares 1,000,000
RWC Asset Management LLP
Value ($000) $5,086 Shares 4,830,000
Periscope Capital Inc.
Value ($000) $1,648 Shares 1,563,000
AQR Arbitrage LLC
Value ($000) $8,424 Shares 8,000,000
Voya Investment Management LLC
Value ($000) $133,899 Shares 127,160,000
Jump Financial, LLC
Value ($000) $7,617 Shares 7,251,000
Calamos Advisors LLC
Value ($000) $21,710 Shares 20,617,000
BANK OF NOVA SCOTIA
Value ($000) $40,185 Shares 38,000,000
LORD, ABBETT & CO. LLC
Value ($000) $35 Shares 33,154,000