Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionCAP Partners, LLC
Latest Disclosed Ownership18,661 shares
Latest Disclosed Value $ 2,213,568
CAP Partners, LLC reports 0.40% increase in ownership of SHOP / Shopify Inc.

On April 28, 2026 - CAP Partners, LLC filed a 13F-HR form disclosing ownership of 18,661 shares of Shopify Inc. (US:SHOP) valued at $2,213,568 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 4, 2026 disclosing 18,587 shares of Shopify Inc.. This represents a change in shares of 0.40% during the quarter. The current value of the position is $2,107,573 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)
2026-04-28 2026-03-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 18,661 74 0.40 2,214 -26.01 1.2502
2026-02-04 2025-12-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 18,587 -54 -0.29 2,992 7.98 1.6955
2025-10-29 2025-09-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 18,641 15 0.08 2,770 28.96 1.5722
2025-07-31 2025-06-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 18,626 592 3.28 2,149 24.81 1.3525
2025-05-08 2025-03-31 13F SHOPIFY CL A 82509L107 18,034 362 2.05 1,722 -8.41 1.2497
2025-01-29 2024-12-31 13F SHOPIFY CL A 82509L107 17,672 347 2.00 1,879 35.37 1.3245
2024-11-07 2024-09-30 13F SHOPIFY CL A 82509L107 17,325 244 1.43 1,388 23.05 1.0372
2024-07-19 2024-06-30 13F SHOPIFY CL A 82509L107 17,081 543 3.28 1,128 -11.60 0.9168
2024-04-18 2024-03-31 13F SHOPIFY CL A 82509L107 16,538 636 4.00 1,276 3.07 1.1263
2024-02-12 2023-12-31 13F SHOPIFY CL A 82509L107 15,902 15,902 1,239 1.2257
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.