SCHEDULE 13G/A 0000351040-25-000001 0000351040 XXXXXXXX LIVE 2 Common Stock, par value $0.01 per share 06/30/2025 0002002473 Bowhead Specialty Holdings Inc. 10240L102 452 5TH AVENUE 24TH FLOOR NEW YORK NY 10018 Rule 13d-1(d) AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I. b WI 0.00 5023778.00 0.00 5023778.00 5023778.00 15.2 IC Includes 322,850 shares of common stock issuable upon the exercise of warrants due to the vesting of the first tranche thereunder on May 23, 2025. The percent of class was calculated based on 32,662,683 shares of common stock outstanding as of May 6, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as the 322,850 shares of common stock issuable upon the exercise of warrants referred to above. American Family Insurance Mutual Holding Co b WI 0.00 5023778.00 0.00 5023778.00 5023778.00 15.2 IC Includes 322,850 shares of common stock issuable upon the exercise of warrants due to the vesting of the first tranche thereunder on May 23, 2025. The percent of class was calculated based on 32,662,683 shares of common stock outstanding as of May 6, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as the 322,850 shares of common stock issuable upon the exercise of warrants referred to above. AmFam Holdings, Inc. b WI 0.00 5023778.00 0.00 5023778.00 5023778.00 15.2 CO Includes 322,850 shares of common stock issuable upon the exercise of warrants due to the vesting of the first tranche thereunder on May 23, 2025. The percent of class was calculated based on 32,662,683 shares of common stock outstanding as of May 6, 2025, as disclosed in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as the 322,850 shares of common stock issuable upon the exercise of warrants referred to above. Bowhead Specialty Holdings Inc. 452 5TH AVENUE, 24TH FLOOR, NEW YORK, NEW YORK, 10018. (i) American Family Mutual Insurance Company, S.I., a Wisconsin stock insurance corporation ("AFMIC"); (ii) AmFam Holdings, Inc a Wisconsin business corporation ("Holdings"); and (iii) American Family Insurance Mutual Holding Company, a Wisconsin mutual insurance holding company ("Parent" and together with AFMIC and Holdings, the "Reporting Persons"). AFMIC is the direct holder of the securities listed in this Schedule 13G and a wholly owned subsidiary of Holdings, which is a wholly owned subsidiary of Parent. Accordingly, Holdings and Parent may each be considered a beneficial owner of the shares of common stock owned directly by AFMIC. 6000 American Parkway, Madison, WI 53783 United States N 5,023,778 15.2% 0 5,023,778 0 5,023,778 Y Y N GPC Partners Investments (SPV III) LP ("GPC") and AFMIC are parties to a Voting Agreement, dated May 22, 2024, and accordingly the Reporting Persons and GPC may be deemed to be members of a "group", as defined in Rule 13d-5 of the Act. The share ownership reported herein does not include any shares of the common stock owned by GPC and beneficial ownership of any shares of the common stock owned by GPC to the extent GPC and the Reporting Persons may be deemed to be members of a group. Y Y AMERICAN FAMILY MUTUAL INSURANCE COMPANY, S.I. /s/ Troy Van Beek 07/28/2025 American Family Insurance Mutual Holding Co /s/ Troy Van Beek 07/28/2025 AmFam Holdings, Inc. /s/ Troy Van Beek 07/28/2025