AXON ENTERPRISE, INC.

**AXON ENTERPRISE, INC.** manages $27M in assets, exhibiting a highly concentrated investment mandate. The fund's current portfolio is anchored by a single, dominant holding in BACRP, representing $27.2M of its total assets. This structure indicates a deep conviction in the underlying asset, suggesting a concentrated, high-conviction approach to capital deployment. Investors should note the near 100% allocation to this single position.

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