ARK Investment Management — SHOP

How ARK Investment Management's position in SHOPIFY INC changed quarter by quarter. Change badges compare each quarter to the fund's immediately-prior filing.

Quarter	Shares	Value	% of portfolio	Change
Q1 2026	4,177,652	$495,553,074	3.85%	ADD
Q4 2025	3,978,898	$640,483,134	4.25%	NEW