DOUGLAS DYNAMICS INC

Ticker: PLOW CUSIP: 25960R105 Class: Common Stock

Spark Investment Management LLC's Holding History (CIK: 0001554871)

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

Q1 2017

Shares 15,900 Value ($000) $487 Avg Close $32.45 Range $28.55 - $35.90

Q4 2016

Shares 15,900 Value ($000) $535 Avg Close $31.78 Range $25.23 - $34.75

Q3 2016

Shares 29,500 Value ($000) $942 Avg Close $29.94 Range $24.05 - $32.80

Q2 2016

Shares 29,500 Value ($000) $759 Avg Close $22.47 Range $20.00 - $25.74

Q1 2016

Shares 15,400 Value ($000) $352 Avg Close $20.10 Range $16.89 - $23.38

Q4 2015

Shares 15,400 Value ($000) $324 Avg Close $21.90 Range $19.38 - $24.48

Q3 2014

Shares 14,200 Value ($000) $276 Avg Close $18.78 Range $16.43 - $21.21

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	15,900	$487	$32.45	$28.55 - $35.90
Q4 2016	15,900	$535	$31.78	$25.23 - $34.75
Q3 2016	29,500	$942	$29.94	$24.05 - $32.80
Q2 2016	29,500	$759	$22.47	$20.00 - $25.74
Q1 2016	15,400	$352	$20.10	$16.89 - $23.38
Q4 2015	15,400	$324	$21.90	$19.38 - $24.48
Q3 2014	14,200	$276	$18.78	$16.43 - $21.21