AXON ENTERPRISE INC

Ticker: AXON CUSIP: 05464C101 Class: EQTY

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 20,700 Value ($000) $11,756 Avg Close $620.52 Range $508.72 - $764.02

Q3 2025

Shares 21,200 Value ($000) $15,214 Avg Close $758.81 Range $694.54 - $885.92

Q2 2025

Shares 20,100 Value ($000) $16,642 Avg Close $680.44 Range $469.24 - $830.21

Q1 2025

Shares 19,700 Value ($000) $10,361 Avg Close $585.29 Range $480.18 - $715.99

Q4 2024

Shares 19,700 Value ($000) $11,708 Avg Close $543.94 Range $395.37 - $698.67

Q3 2024

Shares 19,600 Value ($000) $7,832 Avg Close $344.75 Range $279.02 - $400.33

Q2 2024

Shares 19,400 Value ($000) $5,708 Avg Close $298.42 Range $273.52 - $329.87

Q1 2024

Shares 19,300 Value ($000) $6,039 Avg Close $277.92 Range $241.72 - $325.63

Q4 2023

Shares 19,300 Value ($000) $4,986 Avg Close $225.35 Range $190.01 - $260.69

Q3 2023

Shares 19,300 Value ($000) $3,841 Avg Close $196.69 Range $175.37 - $217.61

Q2 2023

Shares 19,300 Value ($000) $3,766 Avg Close $207.16 Range $186.32 - $229.95

Q1 2023

Shares 17,080 Value ($000) $3,840 Avg Close $198.81 Range $164.67 - $227.56

Q4 2022

Shares 17,180 Value ($000) $2,851 Avg Close $158.08 Range $112.54 - $193.85

Q3 2022

Shares 16,980 Value ($000) $1,965 Avg Close $113.33 Range $88.61 - $133.26

Q2 2022

Shares 18,080 Value ($000) $1,685 Avg Close $105.73 Range $82.49 - $142.50

Q1 2022

Shares 17,380 Value ($000) $2,394 Avg Close $137.15 Range $117.05 - $157.50

Q4 2021

Shares 16,619 Value ($000) $2,609 Avg Close $167.89 Range $138.68 - $209.00

Q3 2021

Shares 16,419 Value ($000) $2,874 Avg Close $181.67 Range $168.41 - $198.00

Q2 2021

Shares 16,319 Value ($000) $2,885 Avg Close $147.22 Range $121.09 - $179.30

Q1 2021

Shares 23,619 Value ($000) $3,364 Avg Close $155.88 Range $115.57 - $212.37

Q4 2020

Shares 23,119 Value ($000) $2,833 Avg Close $114.71 Range $90.17 - $134.73

Q3 2020

Shares 23,119 Value ($000) $2,097 Avg Close $86.99 Range $78.28 - $102.40

Q2 2020

Shares 22,819 Value ($000) $2,239 Avg Close $80.85 Range $60.55 - $104.90

Q1 2020

Shares 16,500 Value ($000) $1,168 Avg Close $74.86 Range $50.05 - $90.10

Q4 2019

Shares 17,500 Value ($000) $1,282 Avg Close $63.28 Range $49.80 - $77.66

Q3 2019

Shares 17,200 Value ($000) $977 Avg Close $63.10 Range $56.11 - $71.69

Q2 2019

Shares 17,400 Value ($000) $1,117 Avg Close $65.22 Range $54.32 - $74.93

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	20,700	$11,756	$620.52	$508.72 - $764.02
Q3 2025	21,200	$15,214	$758.81	$694.54 - $885.92
Q2 2025	20,100	$16,642	$680.44	$469.24 - $830.21
Q1 2025	19,700	$10,361	$585.29	$480.18 - $715.99
Q4 2024	19,700	$11,708	$543.94	$395.37 - $698.67
Q3 2024	19,600	$7,832	$344.75	$279.02 - $400.33
Q2 2024	19,400	$5,708	$298.42	$273.52 - $329.87
Q1 2024	19,300	$6,039	$277.92	$241.72 - $325.63
Q4 2023	19,300	$4,986	$225.35	$190.01 - $260.69
Q3 2023	19,300	$3,841	$196.69	$175.37 - $217.61
Q2 2023	19,300	$3,766	$207.16	$186.32 - $229.95
Q1 2023	17,080	$3,840	$198.81	$164.67 - $227.56
Q4 2022	17,180	$2,851	$158.08	$112.54 - $193.85
Q3 2022	16,980	$1,965	$113.33	$88.61 - $133.26
Q2 2022	18,080	$1,685	$105.73	$82.49 - $142.50
Q1 2022	17,380	$2,394	$137.15	$117.05 - $157.50
Q4 2021	16,619	$2,609	$167.89	$138.68 - $209.00
Q3 2021	16,419	$2,874	$181.67	$168.41 - $198.00
Q2 2021	16,319	$2,885	$147.22	$121.09 - $179.30
Q1 2021	23,619	$3,364	$155.88	$115.57 - $212.37
Q4 2020	23,119	$2,833	$114.71	$90.17 - $134.73
Q3 2020	23,119	$2,097	$86.99	$78.28 - $102.40
Q2 2020	22,819	$2,239	$80.85	$60.55 - $104.90
Q1 2020	16,500	$1,168	$74.86	$50.05 - $90.10
Q4 2019	17,500	$1,282	$63.28	$49.80 - $77.66
Q3 2019	17,200	$977	$63.10	$56.11 - $71.69
Q2 2019	17,400	$1,117	$65.22	$54.32 - $74.93