Vault-13

AXON ENTERPRISE INC AXON 0.5 12.15.27

NOTE 0.500%12/1 · US DOMESTIC · CUSIP 05464CAB7

24 institutional holders -21 vs Q3 2025
942,000942.0k shares reported held*
$198.3mreported value*
3 new 4 added 8 reduced 23 sold out net sold ≈ $345.8m (-1.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $210.47.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q4 23: 48Q1 24: 69Q2 24: 64Q3 24: 56Q4 24: 58Q1 25: 49Q2 25: 48Q3 25: 45Q4 25: 2424Q4 23Q2 24Q4 24Q2 25Q4 25
Numbers
QuarterHolders
Q4 202348
Q1 202469
Q2 202464
Q3 202456
Q4 202458
Q1 202549
Q2 202548
Q3 202545
Q4 202524

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q1 24: 42 bought or addedQ1 24: 24 cut or sold outQ2 24: 31 bought or addedQ2 24: 34 cut or sold outQ2 24Q3 24: 14 bought or addedQ3 24: 36 cut or sold outQ4 24: 16 bought or addedQ4 24: 38 cut or sold outQ4 24Q1 25: 13 bought or addedQ1 25: 39 cut or sold outQ2 25: 16 bought or addedQ2 25: 25 cut or sold outQ2 25Q3 25: 14 bought or addedQ3 25: 28 cut or sold outQ4 25: 7 bought or addedQ4 25: 31 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20244224
Q2 20243134
Q3 20241436
Q4 20241638
Q1 20251339
Q2 20251625
Q3 20251428
Q4 2025731

Biggest buyers

Elequin Capital, LP New +27,856,000+27.9m
Warberg Asset Management LLC Added +5,779,000+5.8m
DeepCurrents Investment Group LLC Added +5,000,000+5.0m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. New +940,000+940.0k
GROUPAMA ASSET MANAGMENT New +750,000+750.0k
Universal- Beteiligungs- und Servicegesellschaft mbH Added +425,000+425.0k
Thrivent Financial for Lutherans Added +195,000+195.0k

Biggest sellers

Polar Asset Management Partners Inc. Reduced -36,134,000-36.1m
Calamos Advisors LLC Sold out -32,626,000-32.6m
BANK OF NOVA SCOTIA Sold out -13,650,000-13.7m
FMR LLC Reduced -12,216,000-12.2m
TWO SIGMA INVESTMENTS, LP Sold out -11,142,000-11.1m
D. E. Shaw & Co., Inc. Sold out -10,500,000-10.5m
Parallax Volatility Advisers, L.P. Sold out -10,000,000-10.0m
BNP PARIBAS FINANCIAL MARKETS Sold out -9,827,000-9.8m
LORD, ABBETT & CO. LLC Reduced -9,188,000-9.2m
VOYA INVESTMENT MANAGEMENT LLC Sold out -7,680,000-7.7m

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Elequin Capital, LP 9.16% of their portfolio NEW YORK, NY 27,856,00027.9m $70.1m $70.1m 9.16% New
2 Warberg Asset Management LLC 9.15% of their portfolio WINNETKA, IL 12,059,00012.1m $30.4m $30.4m 9.15% Added +5.8m +5,779,000
3 DeepCurrents Investment Group LLC 0.84% of their portfolio NEW YORK, NY 8,900,0008.9m $22.5m $22.5m 0.84% Added +5.0m +5,000,000
4 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 7,746,0007.7m $19.5m $19.5m 0.03% Added +195.0k +195,000
5 Polar Asset Management Partners Inc. 0.31% of their portfolio TORONTO, A6 6,129,0006.1m $15.5m $15.5m 0.31% Reduced -36.1m -36,134,000
6 Mint Tower Capital Management B.V. 1.82% of their portfolio AMSTERDAM, P7 5,988,0006.0m $15.1m $15.1m 1.82% Unchanged
7 LORD, ABBETT & CO. LLC 0.02% of their portfolio JERSEY CITY, NJ 2,013,0002.0m $5.1m $5.1m 0.02% Reduced -9.2m -9,188,000
8 FMR LLC 0.00% of their portfolio BOSTON, MA 1,537,0001.5m $3.9m $3.9m 0.00% Reduced -12.2m -12,216,000
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 1,373,0001.4m $3.4m $3.4m 0.00% Reduced -951.0k -951,000
10 Universal- Beteiligungs- und Servicegesellschaft mbH 0.00% of their portfolio FRANKFURT AM MAIN, 2M 1,100,0001.1m $2.8m $2.8m 0.00% Added +425.0k +425,000
11 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio Paris, I0 940,000940.0k $2.4m $2.4m 0.00% New
12 Capital World Investors 0.00% of their portfolio LOS ANGELES, CA 820,000820.0k $2.1m $2.1m 0.00% Unchanged
13 GROUPAMA ASSET MANAGMENT 0.03% of their portfolio PARIS, I0 750,000750.0k $1.9m $1.9m 0.03% New
14 AGF MANAGEMENT LTD 0.01% of their portfolio TORONTO, A6 475,000475.0k $1.2m $1.2m 0.01% Unchanged
15 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 410,000410.0k $1.0m $1.0m 0.00% Unchanged
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 191,000191.0k $480.4k $480.4k 0.00% Reduced -200.0k -200,000
17 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 162,000162.0k $407.3k $407.3k 0.00% Reduced -350.0k -350,000
18 PALISADE CAPITAL MANAGEMENT, LP 0.01% of their portfolio FORT LEE, NJ 121,000121.0k $304.2k $304.2k 0.01% Reduced -4.0k -4,000
19 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 3,0003.0k $7.5k $7.5k 0.00% Unchanged
20 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,6001.6k $4.0k $4.0k 0.00% Reduced -501.0k -501,000
21 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,5001.5k $3.8k $3.8k 0.00% Unchanged
22 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 1,0001.0k $2.5k $2.5k 0.00% Unchanged
23 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 1,0001.0k $251.4k $251.4k 0.00% Unchanged
24 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,0001.0k $2.5k $2.5k 0.00% Unchanged