Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionCIBC Private Wealth Group, LLC
Latest Disclosed Ownership913,503 shares
Latest Disclosed Value $ 147,047,926
CIBC Private Wealth Group, LLC reports 2.91% decrease in ownership of SHOP / Shopify Inc.

On February 12, 2026 - CIBC Private Wealth Group, LLC filed a 13F-HR form disclosing ownership of 913,503 shares of Shopify Inc. (US:SHOP) valued at $147,046,578 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 24, 2025 disclosing 940,867 shares of Shopify Inc.. This represents a change in shares of -2.91% during the quarter. The current value of the position is $103,171,029 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)
2026-02-12 2025-12-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 913,503 -27,364 -2.91 147,048 5.17 0.2486
2025-11-24 2025-09-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 940,867 177,937 23.32 139,822 58.89 0.2394
2025-08-12 2025-06-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 762,930 8,567 1.14 88,003 51.32 0.1572
2025-05-14 2025-03-31 13F SHOPIFY CL A 82509L107 754,363 52,982 7.55 58,157 -22.97 0.1228
2025-02-12 2024-12-31 13F SHOPIFY CL A 82509L107 701,381 611,071 676.64 75,497 943.19 0.1369
2024-11-13 2024-09-30 13F SHOPIFY CL A 82509L107 90,310 7,404 8.93 7,238 29.65 0.0130
2024-08-09 2024-06-30 13F SHOPIFY CL A 82509L107 82,906 48,921 143.95 5,583 110.09 0.0105
2024-05-10 2024-03-31 13F SHOPIFY CL A 82509L107 33,985 -1,605 -4.51 2,657 -4.15 0.0052
2024-02-13 2023-12-31 13F SHOPIFY INC CL A CL A 82509L107 35,590 -37,789 -51.50 2,772 -30.77 0.0059
2023-11-13 2023-09-30 13F SHOPIFY INC CL A CL A 82509L107 73,379 -13,252 -15.30 4,004 -28.45 0.0095
2023-11-21 2023-06-30 13F/A-1 SHOPIFY INC CL A COM 82509L107 86,631 -15,376 -15.07 5,596 -15.95 0.0122
2023-08-10 2023-06-30 13F SHOPIFY INC CL A COM 82509L107 86,631 -15,376 5,596 0.0122
2023-11-21 2023-03-31 13F/A-1 SHOPIFY INC CL A COM 82509L107 102,007 -122,152 -54.49 6,659 -5.91 0.0147
2023-05-12 2023-03-31 13F SHOPIFY INC CL A COM 82509L107 101,288 -122,871 6,609 0.0144
2023-06-01 2022-12-31 13F/A-2 SHOPIFY INC CL A COM 82509L107 224,159 12,635 5.97 7,076 24.16 0.0238
2023-02-14 2022-12-31 13F/A-1 SHOPIFY INC CL A COM 82509L107 224,159 12,635 7,781 0.0163
2023-02-13 2022-12-31 13F SHOPIFY INC CL A COM 82509L107 224,159 12,635 223 0.0000
2022-11-15 2022-09-30 13F SHOPIFY INC CL A COM 82509L107 211,524 32,914 18.43 5,699 2.15 0.0153
2022-08-03 2022-06-30 13F SHOPIFY CL A 82509L107 178,610 176,534 8,503.56 5,579 297.65 0.0145
2022-05-16 2022-03-31 13F SHOPIFY CL A 82509L107 2,076 -120 -5.46 1,403 -53.62 0.0031
2022-04-04 2021-12-31 13F/A-1 SHOPIFY CL A 82509L107 2,196 -55 -2.44 3,025 -0.88 0.0063
2022-02-08 2021-12-31 13F SHOPIFY CL A 82509L107 2,196 -55 3,025 0.0063
2021-11-12 2021-09-30 13F SHOPIFY CL A 82509L107 2,251 -82 -3.51 3,052 -10.45 0.0071
2021-08-16 2021-06-30 13F SHOPIFY CL A 82509L107 2,333 -5 -0.21 3,408 31.74 0.0078
2021-05-12 2021-03-31 13F SHOPIFY CL A 82509L107 2,338 -8 -0.34 2,587 -2.60 0.0065
2021-02-12 2020-12-31 13F SHOPIFY CL A 82509L107 2,346 -266 -10.18 2,656 -0.60 0.0070
2020-11-03 2020-09-30 13F/A-1 SHOPIFY CL A 82509L107 2,612 2,612 2,672 0.0082
2020-08-13 2020-06-30 13F SHOPIFY CL A 82509L107 0 -5,480 -100.00 0 -100.00
2020-05-15 2020-03-31 13F SHOPIFY CL A 82509L107 5,480 -2,907 -34.66 2,285 -31.48 0.0098
2020-01-30 2019-12-31 13F SHOPIFY CL A 82509L107 8,387 7,118 560.91 3,335 744.30 0.0109
2019-10-16 2019-09-30 13F SHOPIFY CL A 82509L107 1,269 -2,520 -66.51 395 -65.26 0.0014
2019-07-31 2019-06-30 13F SHOPIFY CL A 82509L107 3,789 -1,031 -21.39 1,137 14.16 0.0040
2019-05-10 2019-03-31 13F SHOPIFY CL A 82509L107 4,820 4,820 996 0.0038
2018-11-14 2018-09-30 13F SHOPIFY CL A 82509L107 0 -320 -100.00 0 -100.00
2018-08-02 2018-06-30 13F SHOPIFY CL A 82509L107 320 175 120.69 47 161.11 0.0002
2018-05-17 2018-03-31 13F SHOPIFY CL A 82509L107 145 45 45.00 18 80.00 0.0001
2018-02-12 2017-12-31 13F SHOPIFY CL A 82509L107 100 100 10 0.0000
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.