INCLUSIVE CAPITAL PARTNERS, L.P.

**INCLUSIVE CAPITAL PARTNERS, L.P.** manages $26M, exhibiting a highly concentrated portfolio structure. The fund's current holdings are entirely weighted toward NGVT, representing 100% of its assets at $26.0M. This single-stock concentration suggests a high-conviction, directional bet on the underlying asset. Investors should note the near-total allocation risk inherent in this single-name strategy.

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