Can't use select2 with supposedly shimmed jQuery (npm + Browserify)

Question

I'm using npm together with Browserify to package all my libraries/plugins.

Everything is working fine except for select2. I've tried all browserify-shim related fixes and nothing is making it work.

Here are how my files are currently:

package.json

    "devDependencies": {
        "axios": "^0.18",
        "bootstrap": "^4.3.1",
        "browserify-shim": "^3.8.14",
        "cross-env": "^5.1",
        "jquery": "^3.3.1",
        "laravel-mix": "^4.0.15",
        "lodash": "^4.17.11",
        "popper.js": "^1.14.7"
    },
    "browserify": {
        "transform": ["browserify-shim"]
    },
    "browserify-shim": {
        "jquery": "$"
    },

module-loads.js

/* JQuery */
global.jQuery = global.$ = require("jquery");


/* Select2 */
global.select2 = require('select2');

The settings above throw no errors whatsoever except Uncaught TypeError: $(...).select2 is not a function when attempting to initialize select2.

Any thoughts? Thanks for your attention.