DOUGLAS DYNAMICS INC

Ticker: PLOW CUSIP: 25960R105 Class: Common Stock

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

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

Q4 2025

Shares 6,624 Value ($000) $216 Avg Close $31.63 Range $28.52 - $34.41

Q3 2025

Shares 7,994 Value ($000) $250 Avg Close $31.30 Range $27.62 - $34.25

Q2 2025

Shares 8,846 Value ($000) $261 Avg Close $26.32 Range $21.30 - $29.72

Q1 2025

Shares 17,082 Value ($000) $397 Avg Close $25.07 Range $22.91 - $28.73

Q4 2024

Shares 12,541 Value ($000) $296 Avg Close $25.32 Range $22.28 - $27.78

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	6,624	$216	$31.63	$28.52 - $34.41
Q3 2025	7,994	$250	$31.30	$27.62 - $34.25
Q2 2025	8,846	$261	$26.32	$21.30 - $29.72
Q1 2025	17,082	$397	$25.07	$22.91 - $28.73
Q4 2024	12,541	$296	$25.32	$22.28 - $27.78