Key Takeaways
- • Rahul Kishore, founder of Epicenter Capital (launched post-Coatue in 2025), pitched Axon Enterprises as a bullish AI play at the 31st annual Sohn Conference on May 12, 2026, projecting the stock to double by end of 2028 based on accelerating AI product adoption among law enforcement.
- • Axon Enterprises' AI suite—including transcription tools that auto-generate police reports from body camera footage—is growing faster than the company's legacy taser and body camera business, underpinning the upside thesis.
- • The Sohn Conference's "next wave" program featured seven pitches (four long, three short) from emerging hedge fund managers, many alumni of top-tier firms including Coatue, Lone Pine, and Kynikos, reflecting industry trends in AI and GLP-1 therapeutics.
- • One dialysis company was presented as a short idea, though specific details on the thesis and fund manager were not disclosed in available materials.
- • The conference continues its tradition of showcasing emerging managers who have gone on to significant success, with past cohort members including Jason Karp (Tourbillon) and Scott Goodwin (Diameter).
Summary
At the 31st annual Sohn Conference held on May 12, 2026, emerging hedge fund managers presented investment theses to institutional investors and industry leaders. The "next wave" program, which has operated for over a decade, featured seven pitches—four long positions and three short positions—from founders and portfolio managers affiliated with established firms including Coatue, Lone Pine, and Kynikos.
Rahul Kishore, founder of Epicenter Capital, opened his presentation with an unconventional introduction delivered by Eve, an AI agent assistant, before pivoting to his headline long recommendation: Axon Enterprises. The company manufactures tasers, body cameras, and related law enforcement equipment, but Kishore's thesis centers on the acceleration of Axon's AI-driven product suite. The software, which includes transcription capabilities that generate preliminary police reports directly from body camera footage, is expanding faster than the company's core hardware businesses. Kishore projected the stock could double by the end of 2028 as AI adoption accelerates within police departments.
Artificial intelligence emerged as a dominant theme across the cohort's presentations, with multiple managers anchoring positions to AI infrastructure and application trends. The conference also captured exposure to other macro themes, including GLP-1 therapeutics, indicating that emerging managers are tracking both high-growth technology sectors and healthcare innovation pipelines.
Among the short ideas presented, one manager recommended a dialysis company, though granular details regarding the specific thesis and rationale were not provided in available materials. This positioning reflects skepticism toward certain healthcare subsectors despite broader tailwinds in other therapeutic areas.
The Sohn Conference's emerging manager program has historically served as a proving ground for talent; past cohort participants have founded successful funds including Tourbillon Capital and Diameter, underscoring the program's relevance as a talent incubator within the hedge fund industry.
Rahul Kishore, founder of Epicenter Capital, opened his presentation with an unconventional introduction delivered by Eve, an AI agent assistant, before pivoting to his headline long recommendation: Axon Enterprises. The company manufactures tasers, body cameras, and related law enforcement equipment, but Kishore's thesis centers on the acceleration of Axon's AI-driven product suite. The software, which includes transcription capabilities that generate preliminary police reports directly from body camera footage, is expanding faster than the company's core hardware businesses. Kishore projected the stock could double by the end of 2028 as AI adoption accelerates within police departments.
Artificial intelligence emerged as a dominant theme across the cohort's presentations, with multiple managers anchoring positions to AI infrastructure and application trends. The conference also captured exposure to other macro themes, including GLP-1 therapeutics, indicating that emerging managers are tracking both high-growth technology sectors and healthcare innovation pipelines.
Among the short ideas presented, one manager recommended a dialysis company, though granular details regarding the specific thesis and rationale were not provided in available materials. This positioning reflects skepticism toward certain healthcare subsectors despite broader tailwinds in other therapeutic areas.
The Sohn Conference's emerging manager program has historically served as a proving ground for talent; past cohort participants have founded successful funds including Tourbillon Capital and Diameter, underscoring the program's relevance as a talent incubator within the hedge fund industry.
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