BOWHEAD SPECIALTY HLDGS INC

Ticker: BOW CUSIP: 10240L102 Class: Common Stock

EMERALD MUTUAL FUND ADVISERS TRUST's Holding History (CIK: 0001352895)

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

Q4 2025

Shares 8,914 Value ($000) $254 Avg Close $26.53 Range $23.50 - $29.24

Q3 2025

Shares 115,755 Value ($000) $3,130 Avg Close $31.31 Range $26.12 - $37.73

Q2 2025

Shares 161,812 Value ($000) $6,073 Avg Close $38.31 Range $34.28 - $41.98

Q1 2025

Shares 161,812 Value ($000) $6,578 Avg Close $34.06 Range $30.75 - $42.29

Q4 2024

Shares 166,007 Value ($000) $5,897 Avg Close $32.80 Range $27.61 - $37.81

Q3 2024

Shares 194,333 Value ($000) $5,443 Avg Close $28.04 Range $24.41 - $32.55

Q2 2024

Shares 193,396 Value ($000) $4,901 Avg Close $25.56 Range $22.14 - $27.49

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	8,914	$254	$26.53	$23.50 - $29.24
Q3 2025	115,755	$3,130	$31.31	$26.12 - $37.73
Q2 2025	161,812	$6,073	$38.31	$34.28 - $41.98
Q1 2025	161,812	$6,578	$34.06	$30.75 - $42.29
Q4 2024	166,007	$5,897	$32.80	$27.61 - $37.81
Q3 2024	194,333	$5,443	$28.04	$24.41 - $32.55
Q2 2024	193,396	$4,901	$25.56	$22.14 - $27.49