DOUGLAS DYNAMICS INC

Ticker: PLOW CUSIP: 25960R105 Class: Common Stock

Systematic Alpha Investments, LLC's Holding History (CIK: 0001806755)

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

Q4 2025

Shares 14,000 Value ($000) $457 Avg Close $31.63 Range $28.52 - $34.41

Q3 2025

Shares 14,000 Value ($000) $438 Avg Close $31.30 Range $27.62 - $34.25

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	14,000	$457	$31.63	$28.52 - $34.41
Q3 2025	14,000	$438	$31.30	$27.62 - $34.25