Cambridge Financial Group, Inc. Long-Term Concentrated

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR SP 500 ETF Trust	4,065 (+321.2%)	$2,772 (+331.2%)	1.1%	$844.47	—	COM	78462F103
OKE	Oneok	113,695 (+21.1%)	$8,357 (+22.0%)	3.2%	$41.58	+69.4%	COM	682680103
TRGP	Targa Resources Corp	43,910 (+8.7%)	$8,101 (+19.7%)	3.1%	$130.64	+28.7%	COM	87612G101
SYY	Sysco Corp	100,337 (+1.5%)	$7,394 (-9.2%)	2.8%	$55.40	+36.3%	COM	871829107
TGT	Target Corp	74,945 (+1.1%)	$7,326 (+10.2%)	2.8%	$89.33	+2.6%	COM	87612E106
KR	Kroger Co	132,105 (+1.7%)	$8,254 (-5.7%)	3.2%	$52.81	+23.5%	COM	501044101
TXN	Texas Instruments	43,609 (+10.2%)	$7,566 (+4.1%)	2.9%	$107.99	+58.1%	COM	882508104
MCD	MCDONALDS CORP	27,026 (+1.0%)	$8,260 (+1.6%)	3.2%	$180.85	+68.7%	COM	580135101

Exited Positions (2)

PGR Progressive Corp 2.8%

Value ($000) $7,246 Shares 29,340 Est. Cost $227.65 Unrealized -6.7%

PYPL PayPal Holdings 2.2%

Value ($000) $5,776 Shares 86,125 Est. Cost $75.60 Unrealized -14.2%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PGR	Progressive Corp	29,340	$7,246	2.8%	$227.65	-6.7%	—	743315103
PYPL	PayPal Holdings	86,125	$5,776	2.2%	$75.60	-14.2%	—	70450Y103

Decreased Positions (15)

ANET Arista Networks 2.9%

Value ($000) $7,500 (-16.4%) Shares 57,235 (-7.0%) Est. Cost $109.01 Unrealized +26.3%

BBY Best Buy Co. 2.4%

Value ($000) $6,184 (-18.2%) Shares 92,390 (-7.5%) Est. Cost $78.70 Unrealized -4.1%

AVGO Broadcom Inc 4.9%

Value ($000) $12,856 (-8.8%) Shares 37,144 (-13.1%) Est. Cost $179.92 Unrealized +98.4%

COR AmerisourceBergen 4.7%

Value ($000) $12,303 (+6.9%) Shares 36,425 (-1.0%) Est. Cost $129.42 Unrealized +163.2%

GE GE AEROSPACE 2.9%

Value ($000) $7,650 (-7.3%) Shares 24,835 (-9.5%) Est. Cost $99.70 Unrealized +201.7%

VLO Valero Energy 3.2%

Value ($000) $8,481 (-6.5%) Shares 52,097 (-2.2%) Est. Cost $105.52 Unrealized +60.0%

BAC Bank of America Corp 3.8%

Value ($000) $9,867 (+5.4%) Shares 179,391 (-1.2%) Est. Cost $26.98 Unrealized +95.2%

NVDA NVIDIA CORP 3.5%

Value ($000) $9,087 (-5.0%) Shares 48,722 (-5.0%) Est. Cost $104.64 Unrealized +77.9%

TJX TJX Cos 3.9%

Value ($000) $10,287 (+4.1%) Shares 66,968 (-2.0%) Est. Cost $63.78 Unrealized +131.6%

AAPL Apple 3.6%

Value ($000) $9,417 (+4.3%) Shares 34,639 (-2.3%) Est. Cost $122.65 Unrealized +118.8%

ABBV AbbVie 3.2%

Value ($000) $8,411 (-3.7%) Shares 36,811 (-2.4%) Est. Cost $153.04 Unrealized +48.7%

BA BOEING CO 2.6%

Value ($000) $6,682 (-4.0%) Shares 30,775 (-4.6%) Est. Cost $225.47 Unrealized -8.8%

R Ryder System 3.8%

Value ($000) $10,019 (-1.0%) Shares 52,347 (-2.5%) Est. Cost $78.71 Unrealized +128.3%

C Citigroup 3.6%

Value ($000) $9,344 (+1.0%) Shares 80,076 (-12.1%) Est. Cost $72.16 Unrealized +43.6%

GEV GE VERNOVA INC 0.8%

Value ($000) $2,160 (-0.5%) Shares 3,305 (-6.4%) Est. Cost $181.42 Unrealized +235.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ANET	Arista Networks	57,235 (-7.0%)	$7,500 (-16.4%)	2.9%	$109.01	+26.3%	COM	040413205
BBY	Best Buy Co.	92,390 (-7.5%)	$6,184 (-18.2%)	2.4%	$78.70	-4.1%	COM	086516101
AVGO	Broadcom Inc	37,144 (-13.1%)	$12,856 (-8.8%)	4.9%	$179.92	+98.4%	COM	11135F101
COR	AmerisourceBergen	36,425 (-1.0%)	$12,303 (+6.9%)	4.7%	$129.42	+163.2%	COM	03073E105
GE	GE AEROSPACE	24,835 (-9.5%)	$7,650 (-7.3%)	2.9%	$99.70	+201.7%	COM	369604301
VLO	Valero Energy	52,097 (-2.2%)	$8,481 (-6.5%)	3.2%	$105.52	+60.0%	COM	91913Y100
BAC	Bank of America Corp	179,391 (-1.2%)	$9,867 (+5.4%)	3.8%	$26.98	+95.2%	COM	060505104
NVDA	NVIDIA CORP	48,722 (-5.0%)	$9,087 (-5.0%)	3.5%	$104.64	+77.9%	COM	67066G104
TJX	TJX Cos	66,968 (-2.0%)	$10,287 (+4.1%)	3.9%	$63.78	+131.6%	COM	872540109
AAPL	Apple	34,639 (-2.3%)	$9,417 (+4.3%)	3.6%	$122.65	+118.8%	COM	037833100
ABBV	AbbVie	36,811 (-2.4%)	$8,411 (-3.7%)	3.2%	$153.04	+48.7%	COM	00287Y109
BA	BOEING CO	30,775 (-4.6%)	$6,682 (-4.0%)	2.6%	$225.47	-8.8%	COM	097023105
R	Ryder System	52,347 (-2.5%)	$10,019 (-1.0%)	3.8%	$78.71	+128.3%	COM	783549108
C	Citigroup	80,076 (-12.1%)	$9,344 (+1.0%)	3.6%	$72.16	+43.6%	COM	172967424
GEV	GE VERNOVA INC	3,305 (-6.4%)	$2,160 (-0.5%)	0.8%	$181.42	+235.7%	COM	36828A101

Unchanged Positions (8)

CAH Cardinal Health 4.3%

Value ($000) $11,292 Shares 54,951 Est. Cost $55.37 Unrealized +239.0%

FDX Fedex Corp 3.1%

Value ($000) $8,208 Shares 28,415 Est. Cost $242.70 Unrealized +7.8%

SYF Synchrony Financial 3.3%

Value ($000) $8,568 Shares 102,695 Est. Cost $63.72 Unrealized +19.8%

ETN Eaton Corporation 2.6%

Value ($000) $6,727 Shares 21,120 Est. Cost $246.65 Unrealized +43.7%

MSFT Microsoft Corporation 3.4%

Value ($000) $8,797 Shares 18,189 Est. Cost $168.08 Unrealized +197.8%

WMB Williams Companies 3.1%

Value ($000) $8,025 Shares 133,508 Est. Cost $34.88 Unrealized +72.2%

MA Mastercard Incorporated 3.4%

Value ($000) $8,858 Shares 15,516 Est. Cost $283.48 Unrealized +97.2%

RSP Powershares SP 500 Equal Weight 0.0%

Value ($000) $31 Shares 160 Est. Cost $5296.94 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CAH	Cardinal Health	54,951	$11,292	4.3%	$55.37	+239.0%	COM	14149Y108
FDX	Fedex Corp	28,415	$8,208	3.1%	$242.70	+7.8%	COM	31428X106
SYF	Synchrony Financial	102,695	$8,568	3.3%	$63.72	+19.8%	COM	87165B103
ETN	Eaton Corporation	21,120	$6,727	2.6%	$246.65	+43.7%	COM	G29183103
MSFT	Microsoft Corporation	18,189	$8,797	3.4%	$168.08	+197.8%	COM	594918104
WMB	Williams Companies	133,508	$8,025	3.1%	$34.88	+72.2%	COM	969457100
MA	Mastercard Incorporated	15,516	$8,858	3.4%	$283.48	+97.2%	COM	57636Q104
RSP	Powershares SP 500 Equal Weight	160	$31	0.0%	$5296.94	—	COM	46137V357