Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionMorgan Stanley
Latest Disclosed Ownership48,420,624 shares
Ownership 4.00%
Morgan Stanley ownership in SHOP / Shopify Inc.

2023-12-11 - Morgan Stanley has filed an SC 13G/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 48,420,624 shares of Shopify Inc. (US:SHOP). This represents 4.0 percent ownership of the company. In their previous filing dated 2023-02-10 , Morgan Stanley had reported owning 65,432,513 shares, indicating a decrease of -26.00 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File
Date		Effective
Date		Form Prev
Shares		 Latest
Shares		 ΔShares
(Percent)		 Ownership
(Percent)		 ΔOwnership
(Percent)
2023-12-11 2023-12-11 13G/A 65,432,513 48,420,624 -26.00 4.00 -27.27
2023-02-10 2023-02-10 13G 65,432,513 5.50

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

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 CL A SUB VTG SHS 82509L107 24,704,666 -1,748,477 -6.61 2,930,468 -31.18 0.1766
2026-05-27 2025-12-31 13F/A-1 SHOPIFY CL A SUB VTG SHS 82509L107 26,453,143 -2,831,419 -9.67 4,258,163 -2.16 0.2542
2026-02-13 2025-12-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 26,453,143 -2,831,419 4,258,163 0.2542
2026-05-27 2025-09-30 13F/A-1 SHOPIFY CL A SUB VTG SHS 82509L107 29,284,562 -48,142 -0.16 4,351,979 28.62 0.2635
2025-11-14 2025-09-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 29,284,562 -48,142 4,351,979 0.2635
2025-08-15 2025-06-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 29,332,704 -707,991 -2.36 3,383,528 17.96 0.2204
2025-05-15 2025-03-31 13F SHOPIFY CL A 82509L107 30,040,695 455,942 1.54 2,868,286 -8.82 0.2051
2025-05-15 2024-12-31 13F/A-1 SHOPIFY CL A 82509L107 29,584,753 -11,751,403 -28.43 3,145,747 -5.04 0.2204
2025-02-14 2024-12-31 13F SHOPIFY CL A 82509L107 29,584,753 -11,751,403 3,145,747 0.2204
2025-05-14 2024-09-30 13F/A-2 SHOPIFY CL A 82509L107 41,336,156 -7,201,698 -14.84 3,312,680 3.33 0.2402
2025-02-14 2024-09-30 13F/A-1 SHOPIFY CL A 82509L107 41,336,156 -7,201,698 3,312,680 0.2402
2024-11-14 2024-09-30 13F SHOPIFY CL A 82509L107 41,336,156 -7,201,698 3,312,680 0.2402
2025-05-14 2024-06-30 13F/A-2 SHOPIFY CL A 82509L107 48,537,854 -2,549,388 -4.99 3,205,925 -18.68 0.2481
2024-10-17 2024-06-30 13F/A-1 SHOPIFY CL A 82509L107 48,537,854 -2,549,388 3,205,925 0.2480
2024-08-14 2024-06-30 13F SHOPIFY CL A 82509L107 48,537,854 -2,549,388 3,205,925 0.2481
2024-10-17 2024-03-31 13F/A-2 SHOPIFY CL A 82509L107 51,087,242 -1,432,563 -2.73 3,942,403 -3.64 0.3163
2024-08-16 2024-03-31 13F/A-1 SHOPIFY CL A 82509L107 51,087,242 -1,432,563 3,942,403 0.3164
2024-05-15 2024-03-31 13F SHOPIFY CL A 82509L107 51,087,242 -1,432,563 3,942,403 0.3164
2024-08-16 2023-12-31 13F/A-1 SHOPIFY CL A 82509L107 52,519,805 -7,128,046 -11.95 4,091,293 25.69 0.3605
2024-02-13 2023-12-31 13F SHOPIFY CL A 82509L107 52,519,805 -7,128,046 4,091,293 0.3605
2023-11-15 2023-09-30 13F SHOPIFY CL A 82509L107 59,647,851 -3,751,964 -5.92 3,254,983 -20.53 0.3310
2023-08-14 2023-06-30 13F SHOPIFY CL A 82509L107 63,399,815 -3,478,858 -5.20 4,095,628 27.74 0.4037
2023-05-15 2023-03-31 13F SHOPIFY CL A 82509L107 66,878,673 -2,595,142 -3.74 3,206,164 32.96 0.3438
2023-02-14 2022-12-31 13F SHOPIFY CL A 82509L107 69,473,815 -5,352,703 -7.15 2,411,436 19.63 0.2739
2022-11-14 2022-09-30 13F SHOPIFY CL A 82509L107 74,826,518 1,832,999 2.51 2,015,828 -11.60 0.2747
2022-10-27 2022-06-30 13F/A-1 SHOPIFY CL A 82509L107 72,993,519 66,551,504 1,033.09 2,280,318 -47.63 0.2960
2022-08-15 2022-06-30 13F SHOPIFY CL A 82509L107 72,993,519 66,551,504 2,280,318 0.2960
2022-10-27 2022-03-31 13F/A-1 SHOPIFY CL A 82509L107 6,442,015 557,589 9.48 4,354,544 -46.27 0.5873
2022-05-13 2022-03-31 13F SHOPIFY CL A 82509L107 6,442,015 557,589 4,354,544 0.5873
2022-02-14 2021-12-31 13F SHOPIFY CL A 82509L107 5,884,426 -150,308 -2.49 8,105,149 -0.94 1.0008
2021-11-15 2021-09-30 13F SHOPIFY CL A 82509L107 6,034,734 83,944 1.41 8,181,773 -5.89 1.1020
2021-08-23 2021-06-30 13F/A-1 SHOPIFY CL A 82509L107 5,950,790 -81,635 -1.35 8,693,985 30.25 1.1468
2021-08-16 2021-06-30 13F SHOPIFY CL A 82509L107 5,951,260 -81,165 8,694,672 0.2384
2021-05-17 2021-03-31 13F SHOPIFY CL A 82509L107 6,032,425 1,174,003 24.16 6,674,879 21.37 0.9805
2021-02-16 2020-12-31 13F SHOPIFY CL A 82509L107 4,858,422 -234,985 -4.61 5,499,492 5.55 0.8494
2020-11-13 2020-09-30 13F SHOPIFY CL A 82509L107 5,093,407 -417,836 -7.58 5,210,402 -0.40 1.0078
2020-08-14 2020-06-30 13F SHOPIFY CL A 82509L107 5,511,243 263,181 5.01 5,231,273 139.08 1.1579
2020-05-26 2020-03-31 13F/A-1 SHOPIFY CL A 82509L107 5,248,062 942,540 21.89 2,188,075 27.82 0.5946
2020-05-15 2020-03-31 13F SHOPIFY CL A 82509L107 5,356,363 1,050,841 2,233,229 605,788.8120
2020-02-14 2019-12-31 13F SHOPIFY CL A 82509L107 4,305,522 1,718,909 66.45 1,711,789 112.34 0.3981
2019-11-14 2019-09-30 13F SHOPIFY CL A 82509L107 2,586,613 -934,415 -26.54 806,142 -23.72 0.2134
2019-08-14 2019-06-30 13F SHOPIFY CL A 82509L107 3,521,028 -791,266 -18.35 1,056,835 18.61 0.2813
2019-05-15 2019-03-31 13F SHOPIFY CL A 82509L107 4,312,294 2,063,041 91.72 891,007 186.12 0.2522
2019-02-14 2018-12-31 13F SHOPIFY CL A 82509L107 2,249,253 1,723,074 327.47 311,410 259.87 0.0932
2019-04-23 2018-09-30 13F/A-2 SHOPIFY CL A 82509L107 526,179 -40,231 -7.10 86,535 4.72 0.0217
2018-11-20 2018-09-30 13F/A-1 SHOPIFY CL A 82509L107 526,179 0 86,535 0.0217
2018-11-14 2018-09-30 13F SHOPIFY CL A 82509L107 526,179 -40,231 86,535
2019-04-23 2018-06-30 13F/A-1 SHOPIFY CL A 82509L107 566,410 135,031 31.30 82,632 53.74 0.0223
2018-08-14 2018-06-30 13F SHOPIFY CL A 82509L107 566,410 135,031 82,633
2019-04-23 2018-03-31 13F/A-1 SHOPIFY CL A 82509L107 431,379 -230,287 -34.80 53,747 -19.57 0.0149
2018-05-14 2018-03-31 13F SHOPIFY CL A 82509L107 431,379 -230,287 53,747
2019-04-23 2017-12-31 13F/A-1 SHOPIFY CL A 82509L107 661,666 335,573 102.91 66,828 75.92 0.0183
2018-02-14 2017-12-31 13F SHOPIFY CL A 82509L107 661,666 335,573 66,828
2017-11-14 2017-09-30 13F SHOPIFY CL A 82509L107 326,093 -374,017 -53.42 37,987 -37.56 0.0114
2017-08-11 2017-06-30 13F SHOPIFY CL A 82509L107 700,110 56,208 8.73 60,840 38.77 0.0184
2017-05-22 2017-03-31 13F/A-1 SHOPIFY CL A 82509L107 643,902 348,254 117.79 43,843 245.93 0.0135
2017-05-12 2017-03-31 13F SHOPIFY CL A 82509L107 643,902 43,843
2017-02-22 2016-12-31 13F/A-1 SHOPIFY CL A 82509L107 295,648 -55,102 -15.71 12,674 -15.81 0.0041
2017-02-13 2016-12-31 13F SHOPIFY CL A 82509L107 295,648 12,674
2016-11-10 2016-09-30 13F SHOPIFY CL A 82509L107 350,750 255,746 269.19 15,054 415.20 0.0051
2016-08-12 2016-06-30 13F SHOPIFY CL A 82509L107 95,004 4,316 4.76 2,922 14.23 0.0011
2016-05-12 2016-03-31 13F SHOPIFY CL A 82509L107 90,688 61,324 208.84 2,558 237.91 0.0010
2016-02-09 2015-12-31 13F SHOPIFY CL A 82509L107 29,364 22,136 306.25 757 196.86 0.0003
2016-02-08 2015-09-30 13F/A-1 SHOPIFY CL A 82509L107 7,228 -5,660 -43.92 255 -41.78 0.0001
2015-11-09 2015-09-30 13F SHOPIFY CL A 82509L107 7,228 255
2015-08-12 2015-06-30 13F SHOPIFY CL A 82509L107 12,888 12,888 438 0.0002
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.