your project
my-app/
└── node_modules/
├── react → .pnpm/react@19.2.4/… symlink
├── clsx → .pnpm/clsx@2.1.1/… symlink
└── .pnpm/
├── react@19.2.4/…/react/index.js 1CoW
└── clsx@2.1.1/…/clsx/dist/clsx.js 1CoW
global store (one copy per machine)
~/Library/pnpm/store/v10/
└── files/
├── 3a/f2c9…8e 1
├── b1/07a4…e4 1
└── … (159,563 real files)