Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionAdvisory Services Network, LLC
Latest Disclosed Ownership70,827 shares
Latest Disclosed Value $ 8,401,515
Advisory Services Network, LLC reports 15.36% decrease in ownership of SHOP / Shopify Inc.

On May 15, 2026 - Advisory Services Network, LLC filed a 13F-HR form disclosing ownership of 70,827 shares of Shopify Inc. (US:SHOP) valued at $8,401,499 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 83,681 shares of Shopify Inc.. This represents a change in shares of -15.36% during the quarter. The current value of the position is $7,999,201 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F SHOPIFY INC CL A SUB VTG SHS Stock 82509L107 70,827 -12,854 -15.36 8,402 -37.63 0.0776
2026-02-17 2025-12-31 13F SHOPIFY INC CL A SUB VTG SHS Stock 82509L107 83,681 -4,517 -5.12 13,470 2.77 0.1906
2025-11-18 2025-09-30 13F SHOPIFY Stock 82509L107 88,198 15,264 20.93 13,107 47.05 0.1922
2025-08-19 2025-06-30 13F SHOPIFY Stock 82509L107 72,934 -3,322 -4.36 8,913 22.43 0.1435
2025-05-15 2025-03-31 13F SHOPIFY Stock 82509L107 76,256 -7,830 -9.31 7,281 -18.57 0.1399
2025-02-13 2024-12-31 13F SHOPIFY Stock 82509L107 84,086 5,854 7.48 8,941 73.02 0.1666
2024-11-14 2024-09-30 13F SHOPIFY Stock 82509L107 78,232 0 0.00 5,167 0.00 0.1068
2024-08-13 2024-06-30 13F SHOPIFY Stock 82509L107 78,232 8,568 12.30 5,167 -3.87 0.1068
2024-05-06 2024-03-31 13F SHOPIFY Stock 82509L107 69,664 -137 -0.20 5,376 -1.14 0.1192
2024-02-09 2023-12-31 13F SHOPIFY Stock 82509L107 69,801 -6,409 -8.41 5,437 30.76 0.1329
2023-11-14 2023-09-30 13F SHOPIFY Stock 82509L107 76,210 -783 -1.02 4,159 -16.39 0.1117
2023-08-09 2023-06-30 13F SHOPIFY Stock 82509L107 76,993 -15,942 -17.15 4,974 11.63 0.1325
2023-05-17 2023-03-31 13F SHOPIFY Stock 82509L107 92,935 6,314 7.29 4,455 48.20 0.1234
2023-02-13 2022-12-31 13F SHOPIFY Stock 82509L107 86,621 -2,486 -2.79 3,007 25.20 0.0922
2022-11-14 2022-09-30 13F SHOPIFY Stock 82509L107 89,107 21,864 32.51 2,401 19.87 0.0848
2022-08-02 2022-06-30 13F SHOPIFY Stock 82509L107 67,243 59,399 757.25 2,003 -62.22 0.0685
2022-05-23 2022-03-31 13F SHOPIFY Stock 82509L107 7,844 857 12.27 5,302 -44.91 0.1561
2022-02-14 2021-12-31 13F SHOPIFY Stock 82509L107 6,987 -319 -4.37 9,625 -2.83 0.2769
2021-11-05 2021-09-30 13F SHOPIFY Stock 82509L107 7,306 -499 -6.39 9,905 -13.13 0.3150
2021-08-12 2021-06-30 13F SHOPIFY Stock 82509L107 7,805 -1,055 -11.91 11,402 16.31 0.3597
2021-05-24 2021-03-31 13F SHOPIFY Stock 82509L107 8,860 2,267 34.38 9,803 31.35 0.3642
2021-02-09 2020-12-31 13F SHOPIFY Stock 82509L107 6,593 3,556 117.09 7,463 140.28 0.2994
2020-11-16 2020-09-30 13F SHOPIFY Stock 82509L107 3,037 1,443 90.53 3,106 105.29 0.1462
2020-08-10 2020-06-30 13F SHOPIFY INC CL A Stock 82509L107 1,594 565 54.91 1,513 251.86 0.0830
2020-05-15 2020-03-31 13F SHOPIFY Stock 82509L107 1,029 -88 -7.88 430 -3.15 0.0281
2020-02-04 2019-12-31 13F SHOPIFY Stock 82509L107 1,117 -1,366 -55.01 444 -40.48 0.0234
2019-11-04 2019-09-30 13F SHOPIFY Stock 82509L107 2,483 0 0.00 746 0.00 0.0457
2019-08-01 2019-06-30 13F SHOPIFY Stock 82509L107 2,483 455 22.44 746 78.04 0.0457
2019-05-20 2019-03-31 13F SHOPIFY Stock 82509L107 2,028 187 10.16 419 64.31 0.0294
2019-02-15 2018-12-31 13F SHOPIFY Stock 82509L107 1,841 315 20.64 255 1.59 0.0223
2018-11-02 2018-09-30 13F SHOPIFY Stock 82509L107 1,526 0 0.00 251 -3.46 0.0183
2018-07-27 2018-06-30 13F SHOPIFY Stock 82509L107 1,526 -44 -2.80 260 32.65 0.0198
2018-04-23 2018-03-31 13F SHOPIFY Stock 82509L107 1,570 60 3.97 196 28.10 0.0157
2018-02-08 2017-12-31 13F SHOPIFY Stock 82509L107 1,510 -1,059 -41.22 153 -48.83 0.0133
2017-10-12 2017-09-30 13F SHOPIFY Stock 82509L107 2,569 1,149 80.92 299 143.09 0.0342
2017-08-17 2017-06-30 13F SHOPIFY INC CL A Stock 82509L107 1,420 298 26.56 123 61.84 0.0160
2017-04-28 2017-03-31 13F SHOPIFY INC CL A Stock 82509L107 1,122 1,122 76 0.0110
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.