BOWHEAD SPECIALTY HLDGS INC

Ticker: BOW CUSIP: 10240L102 Class: Common Stock

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

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

Q4 2025

Shares 14,400 Value ($000) $411 Avg Close $26.53 Range $23.50 - $29.24

Q3 2025

Shares 12,630 Value ($000) $342 Avg Close $31.31 Range $26.12 - $37.73

Q2 2025

Shares 17,453 Value ($000) $655 Avg Close $38.31 Range $34.28 - $41.98

Q1 2025

Shares 6,033 Value ($000) $245 Avg Close $34.06 Range $30.75 - $42.29

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,400	$411	$26.53	$23.50 - $29.24
Q3 2025	12,630	$342	$31.31	$26.12 - $37.73
Q2 2025	17,453	$655	$38.31	$34.28 - $41.98
Q1 2025	6,033	$245	$34.06	$30.75 - $42.29