As of the most recent reporting period, the following institutional investors, funds, and major shareholders have reported short positions of Shopify: Squarepoint Ops LLC, Wolverine Trading LLC, Nomura Holdings Inc., CTC LLC, National Bank of Canada FI, Man Group plc, LMR Partners LLP, Group One Trading LLC, Cubist Systematic Strategies LLC, BNP Paribas Financial Markets, Bank of America Corp DE, Jane Street Group LLC, Tennessee Valley Asset Management Partners, Squarepoint Ops LLC, Qube Research & Technologies Ltd, Maven Securities LTD, Capital Markets Trading UK LLP, CMT Capital Markets Trading GmbH, Walleye Capital LLC, Walleye Trading LLC, Lido Advisors LLC, NINE MASTS CAPITAL Ltd, Capital Fund Management S.A., Sumitomo Mitsui Financial Group Inc., Eisler Capital Management Ltd., Franklin Resources Inc., JPMorgan Chase & Co., Greenland Capital Management LP, SG Americas Securities LLC, Twin Tree Management LP, Game Plan Financial Advisors LLC, and SteelPeak Wealth LLC. These positions are disclosed in Form 13F filings with the Securities and Exchange Commission.