Shopify Inc.
US ˙ NasdaqGS ˙ CA82509L1076

SecuritySHOP / Shopify Inc.
InstitutionCwm, Llc
Latest Disclosed Ownership19,785 shares
Latest Disclosed Value $ 2,346,951
Cwm, Llc reports 9.14% decrease in ownership of SHOP / Shopify Inc.

On May 14, 2026 - Cwm, Llc filed a 13F-HR form disclosing ownership of 19,785 shares of Shopify Inc. (US:SHOP) valued at $2,346,897 USD as of March 31, 2026. The entity filed a previous 13F-HR on January 26, 2026 disclosing 21,775 shares of Shopify Inc.. This represents a change in shares of -9.14% during the quarter. The current value of the position is $2,234,518 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.

Upgrade to unlock premium data and export to Excel .

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)
2026-05-14 2026-03-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 19,785 -1,990 -9.14 2,347 78,100.00 0.0061
2026-01-26 2025-12-31 13F SHOPIFY CL A SUB VTG SHS 82509L107 21,775 4,272 24.41 4 50.00 0.0095
2025-10-15 2025-09-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 17,503 1,663 10.50 3 100.00 0.0078
2025-07-25 2025-06-30 13F SHOPIFY CL A SUB VTG SHS 82509L107 15,840 2,939 22.78 2 0.00 0.0064
2025-05-01 2025-03-31 13F SHOPIFY CL A 82509L107 12,901 -152 -1.16 1 0.00 0.0049
2025-02-04 2024-12-31 13F SHOPIFY CL A 82509L107 13,053 -1,044 -7.41 1 0.00 0.0058
2024-10-08 2024-09-30 13F SHOPIFY CL A 82509L107 14,097 1,832 14.94 1 0.0049
2024-07-10 2024-06-30 13F SHOPIFY CL A 82509L107 12,265 429 3.62 1 0.0038
2024-04-05 2024-03-31 13F SHOPIFY CL A 82509L107 11,836 -9,282 -43.95 1 -100.00 0.0044
2024-02-01 2023-12-31 13F SHOPIFY CL A 82509L107 21,118 -22,656 -51.76 2 -50.00 0.0088
2023-10-11 2023-09-30 13F SHOPIFY CL A 82509L107 43,774 24,573 127.98 2 100.00 0.0146
2023-08-03 2023-06-30 13F SHOPIFY CL A 82509L107 19,201 -49,811 -72.18 1 -66.67 0.0077
2023-05-01 2023-03-31 13F SHOPIFY CL A 82509L107 69,012 9,119 15.23 3 50.00 0.0224
2023-02-01 2022-12-31 13F SHOPIFY CL A 82509L107 59,893 40,681 211.75 2 -99.61 0.0153
2022-10-27 2022-09-30 13F SHOPIFY CL A 82509L107 19,212 405 2.15 518 -11.90 0.0041
2022-07-28 2022-06-30 13F SHOPIFY CL A 82509L107 18,807 17,698 1,595.85 588 -21.50 0.0046
2022-04-21 2022-03-31 13F SHOPIFY CL A 82509L107 1,109 -132 -10.64 749 -56.17 0.0053
2022-01-31 2021-12-31 13F SHOPIFY CL A 82509L107 1,241 163 15.12 1,709 8.51 0.0120
2021-09-15 2021-06-30 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2021-07-29 2021-06-30 13F SHOPIFY CL A 82509L107 1,078 0 1,575 0.0126
2021-09-15 2021-03-31 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2021-04-27 2021-03-31 13F SHOPIFY CL A 82509L107 996 -82 1,102 0.0097
2021-09-15 2020-12-31 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2021-01-27 2020-12-31 13F SHOPIFY CL A 82509L107 1,169 91 1,323 0.0124
2021-09-15 2020-09-30 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2020-10-19 2020-09-30 13F SHOPIFY CL A 82509L107 991 -87 1,014 0.0113
2021-09-15 2020-06-30 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2020-07-22 2020-06-30 13F SHOPIFY CL A 82509L107 1,794 716 1,703 0.0202
2021-09-15 2020-03-31 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2020-04-28 2020-03-31 13F SHOPIFY CL A 82509L107 868 -210 362 0.0054
2021-09-14 2019-12-31 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2020-01-27 2019-12-31 13F SHOPIFY CL A 82509L107 865 -213 344 0.0044
2021-09-14 2019-09-30 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2019-10-22 2019-09-30 13F SHOPIFY CL A 82509L107 867 -211 270 0.0039
2021-09-14 2019-06-30 13F/A-1 SHOPIFY CL A 82509L107 1,078 0 0.00 1,575 0.00 0.0126
2019-07-31 2019-06-30 13F SHOPIFY CL A 82509L107 903 -175 271 0.0045
2021-09-02 2019-03-31 13F/A-1 SHOPIFY CL A 82509L107 1,078 164 17.94 1,575 1,140.16 0.0126
2019-04-22 2019-03-31 13F SHOPIFY CL A 82509L107 850 -53 176 0.0035
2019-01-25 2018-12-31 13F SHOPIFY CL A 82509L107 914 412 82.07 127 53.01 0.0032
2018-10-29 2018-09-30 13F SHOPIFY CL A 82509L107 502 124 32.80 83 50.91 0.0021
2018-07-31 2018-06-30 13F SHOPIFY CL A 82509L107 378 0 0.00 55 17.02 0.0018
2018-04-26 2018-03-31 13F SHOPIFY CL A 82509L107 378 0 0.00 47 23.68 0.0019
2018-01-16 2017-12-31 13F SHOPIFY CL A 82509L107 378 0 0.00 38 -13.64 0.0017
2017-10-16 2017-09-30 13F SHOPIFY CL A 82509L107 378 0 0.00 44 33.33 0.0021
2017-07-17 2017-06-30 13F SHOPIFY CL A 82509L107 378 8 2.16 33 32.00 0.0017
2017-04-17 2017-03-31 13F SHOPIFY CL A 82509L107 370 50 15.62 25 78.57 0.0014
2017-01-19 2016-12-31 13F SHOPIFY CL A 82509L107 320 0 0.00 14 0.00 0.0009
2016-10-17 2016-09-30 13F SHOPIFY CL A 82509L107 320 320 14 0.0010
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.