AXON ENTERPRISE, INC.

Key Holdings

The portfolio is entirely composed of Cellebrite Di Ltd, which accounts for 100% of the total value. The position consists of 3.68 million shares valued at $68.18 million. Cellebrite, a digital intelligence company, is a direct peer in the broader technology and law enforcement ecosystem. The size of the holding indicates a substantial equity interest, likely representing a strategic investment or an equity stake resulting from a prior business relationship. By holding a single position with such high conviction, the filer exposes itself directly to the specific performance and volatility of Cellebrite’s stock, foregoing the risk mitigation typically found in multi-asset portfolios.