Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionJanus Henderson Group Plc
Latest Disclosed Ownership4,088,788 shares
Latest Disclosed Value $ 478,893,243
Janus Henderson Group Plc reports 7.56% decrease in ownership of SHOP / Shopify Inc.

On May 18, 2026 - Janus Henderson Group Plc filed a 13F-HR/A form disclosing ownership of 4,088,788 shares of Shopify Inc. (US:SHOP) valued at $485,012,033 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 4,423,410 shares of Shopify Inc.. This represents a change in shares of -7.56% during the quarter. The current value of the position is $461,787,717 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)
2026-05-18 2026-03-31 13F/A-1 SHOPIFY CL A SUB VTG SHS 82509L107 4,088,788 -334,622 -7.56 478,893 -32.01 0.2287
2026-05-15 2026-03-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 4,088,788 -334,622 478,893 0.0888
2026-02-17 2025-12-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 4,423,410 -618,043 -12.26 704,404 -5.98 0.3154
2025-11-14 2025-09-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 5,041,453 124,772 2.54 749,202 32.11 0.3420
2025-08-14 2025-06-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 4,916,681 755,560 18.16 567,118 40.99 0.2780
2025-05-15 2025-03-31 13F SHOPIFY CL A 82509L107 4,161,121 -8,123 -0.19 402,251 -9.26 0.2205
2025-02-14 2024-12-31 13F SHOPIFY CL A 82509L107 4,169,244 -48,355 -1.15 443,318 31.16 0.2253
2024-11-14 2024-09-30 13F SHOPIFY CL A 82509L107 4,217,599 -1,077 -0.03 337,995 21.30 0.1730
2024-08-14 2024-06-30 13F SHOPIFY CL A 82509L107 4,218,676 4,091,580 3,219.28 278,647 2,738.99 0.1492
2024-05-15 2024-03-31 13F SHOPIFY CL A 82509L107 127,096 -1,468 -1.14 9,816 -2.38 0.0054
2024-02-14 2023-12-31 13F SHOPIFY CL A 82509L107 128,564 0 0.00 10,055 42.65 0.0060
2023-11-14 2023-09-30 13F SHOPIFY CL A 82509L107 128,564 1,919 1.52 7,048 -13.99 0.0046
2023-08-14 2023-06-30 13F SHOPIFY CL A 82509L107 126,645 -12,605 -9.05 8,195 22.94 0.0051
2023-05-15 2023-03-31 13F SHOPIFY CL A 82509L107 139,250 -400 -0.29 6,665 37.56 0.0044
2023-02-14 2022-12-31 13F SHOPIFY CL A 82509L107 139,650 5,100 3.79 4,846 32.96 0.0035
2023-01-13 2022-09-30 13F/A-1 SHOPIFY CL A 82509L107 134,550 -627,534 -82.34 3,644 -84.69 0.0027
2022-11-14 2022-09-30 13F SHOPIFY CL A 82509L107 134,550 -627,534 3,644 0.0009
2022-08-15 2022-06-30 13F SHOPIFY CL A 82509L107 762,084 708,757 1,329.08 23,807 -34.03 0.0164
2022-05-16 2022-03-31 13F SHOPIFY CL A 82509L107 53,327 -229,545 -81.15 36,088 -90.74 0.0174
2022-02-14 2021-12-31 13F SHOPIFY CL A 82509L107 282,872 45,354 19.09 389,693 21.02 0.1625
2021-11-16 2021-09-30 13F SHOPIFY CL A 82509L107 237,518 -2,529 -1.05 322,003 -8.20 0.1408
2021-08-16 2021-06-30 13F SHOPIFY CL A 82509L107 240,047 27,789 13.09 350,764 49.35 0.1501
2021-05-17 2021-03-31 13F SHOPIFY CL A 82509L107 212,258 188,753 803.03 234,865 785.11 0.1072
2021-02-16 2020-12-31 13F SHOPIFY CL A 82509L107 23,505 -258 -1.09 26,535 9.62 0.0123
2020-11-16 2020-09-30 13F SHOPIFY CL A 82509L107 23,763 976 4.28 24,206 12.24 0.0126
2020-08-14 2020-06-30 13F SHOPIFY CL A 82509L107 22,787 -253,706 -91.76 21,567 -81.17 0.0121
2020-05-14 2020-03-31 13F SHOPIFY CL A 82509L107 276,493 160,402 138.17 114,525 147.75 0.0788
2020-02-18 2019-12-31 13F SHOPIFY CL A 82509L107 116,091 -12,063 -9.41 46,226 15.81 0.0237
2019-11-14 2019-09-30 13F SHOPIFY CL A 82509L107 128,154 93,890 274.02 39,916 287.16 0.0216
2019-07-31 2019-06-30 13F SHOPIFY CL A 82509L107 34,264 9,659 39.26 10,310 102.87 0.0056
2019-04-30 2019-03-31 13F SHOPIFY CL A 82509L107 24,605 -40,855 -62.41 5,082 -43.91 0.0028
2019-02-06 2018-12-31 13F SHOPIFY CL A 82509L107 65,460 28,521 77.21 9,060 49.28 0.0058
2018-11-09 2018-09-30 13F SHOPIFY CL A 82509L107 36,939 -44,093 -54.41 6,069 -48.61 0.0032
2018-08-10 2018-06-30 13F SHOPIFY CL A 82509L107 81,032 -101,300 -55.56 11,810 -47.92 0.0067
2018-05-14 2018-03-31 13F SHOPIFY CL A 82509L107 182,332 182,332 22,678 0.0134
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.