Stock Ratings / Industrials / PLOW / financials

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Douglas Dynamics Inc. (PLOW) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$39.49 -0.85% NYSE • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $39.35

Douglas Dynamics Inc. (PLOW) carries a Roarable Rating of C+ (Hold) with 67/100 RQD Confidence. The composite score sits in the neutral Hold band (59–69), meaning current holders don’t need to panic-sell while prospective buyers can wait for a move into the 70+ Buy zone.

📊 Historical Track Record: Scores of 67/100 (C+) historically posted market-perform odds over rolling 90-day windows (+1.6% avg 90D alpha vs SPY) →

ROARABLE C+ • HOLD / WATCH Cap $911.3M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on PLOW Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is PLOW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Douglas Dynamics Inc. (NYSE: PLOW) is rated C+ (Hold / HOLD) by Roarable's 5-pillar RQD engine with a composite confidence score of 67/100 at a spot price of $39.49 (-0.85% 1D, market cap $911.3M). Pillar breakdown: Fundamental Cash Engine 18/20, Institutional 13F & Options Flow 7/20, Executive Insider Alignment 15/20, FRED Macro Regime Fit 8/20, and SEC Balance-Sheet Forensics 19/20. Across 485 tracked Industrials issuers, PLOW ranks #64 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does PLOW compare to ASTE and MTW in the Industrials sector?

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Within the Industrials sector (Construction/Ag Equipment/Trucks), PLOW carries a Roarable C+ (67/100 RQD), trailing P/E of 19.6x, gross margin of 26.6%, and ROIC of 20.7%. By comparison, ASTE (Astec Industries Inc.) holds a D grade (48/100 RQD, P/E 23.7x, ROIC 5.6%, cap $904.2M) and MTW (Manitowoc Company Inc.) posts a D grade (46/100 RQD, P/E 119.2x, ROIC 6.9%, cap $830.5M). Among the 5-stock peer group, PLOW leads on earnings multiple (19.6x) while WNC leads on capital efficiency (31.2% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for PLOW?

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Per PLOW's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001287213), Douglas Dynamics Inc. generated $656.1M in revenue (+15.4% YoY), $46.9M in net income, and $63.9M in free cash flow against $626.7M in total assets and $0 in total debt. Key quantitative strengths: Strong cash generator (27% profit margin)—profits are backed by real money, not accounting tricks.. Primary risk factors monitored: Sensitive to high interest rates and tighter Federal Reserve market liquidity.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $39.36 (-0.34%)🧬 Cannibal Buyback (-3.20% YoY Shares)⚙️ Cash Engine: 18/20 (A) • 9.7% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record: Scores of 67/100 (C+) historically posted market-perform odds over rolling 90-day windows (+1.6% avg 90D alpha vs SPY • 56.4% hit rate — wait for RQD ≥ 70 breakout).

Audit Bucket Track Record →

RQD QUANT TACHOMETERHOLD / WATCH • C+

2-of-3 JEV AI Jury Bullish

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw B · Rk D+

Each axis scored 0–20

12M PRICE TARGET CONE+4.1% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for PLOW)Realized 20D OHLCV Swing Band: ±4.2%

Deterministic 5-Pillar Attribution (67/100 Composite)

🔍 WHY PLOW SCORES 67/100 (C+) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: Insider Conviction & Share Dilution+19/20 pts (28% of score)

SEC Form 4 / 13F Thermometer: 86% Net Buy • Cannibal Buyback (-3.20% YoY Shares)

▲ #2 Bullish Driver: Cash Engine Quality+18/20 pts (27% of score)

SEC XBRL FY 2025 (10-K): 9.7% FCF Margin ($63.9M FCF) & 26.6% Gross Margin

▼ #1 Drag / Risk Factor: Whale & Options Positioning7/20 pts (-13 pt drag)

Put hedging (50% put share) caps near-term gamma upside (-13 pts vs max)

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade B+$39.87+0.7% Next Q

Q2 (-2Q)

Grade B$40.16-1.1% Next Q

Q3 (-1Q)

Grade B$39.71-0.6% Next Q

Current

Grade C+$39.49+1.6% Hist 90D α

Trajectory: B+ (75) → C+ (67)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)GIDEON ASHMERE // FORENSIC SHORT & KILL-SWITCH DOSSIER

⚔️ Adversarial Opposing Case: Why the PLOW Bull Thesis Could Fail

Gideon Ashmere Forensic Desk →

Even with a 67/100 (C+) score, PLOW faces multiple-compression risk if 19.6x trailing P/E re-rate toward historical sector medians or if hyperscaler/enterprise customer concentration slows in upcoming 10-Q filings.

⚠️ Forensic Kill-Switch #1

Sensitive to high interest rates and tighter Federal Reserve market liquidity.

⚠️ Forensic Kill-Switch #2

Dilution & Margin Drag: Cannibal Buyback (-3.20% YoY Shares) — any gross margin slip below 24.1% triggers an automatic RQD downgrade.

⚠️ Forensic Kill-Switch #3

Technical & Forensic Kill-Switch: A daily close below the 50D SMA ($40.18) or 200D SMA ($43.09) invalidates the momentum regime and cuts Target Base ($41.09) toward Bear Floor ($32.05).

🎲 LIVE PREDICTION MARKET ODDS TIED TO $PLOW• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “PLOW Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 67%NO 33%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How PLOW Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$63.9M (9.7% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $568.2M

FY24

Rev $568.5M

FY25

Rev $656.1M

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$656.1M	26.6%	11.2%	$46.9M	$63.9M	20.7%
FY 2024	$568.5M	25.8%	15.6%	$56.2M	$33.4M	26.5%
FY 2023	$568.2M	26.6%	7.9%	$23.7M	$12.5M	20.7%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring PLOW)

✓Walkthrough of PLOW's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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PLOW // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -11.42%⚡ TESTING RESISTANCE

2026-11-03O $39.83H $39.83L $39.49C $39.49VOL 193.5K

RES: $40.07SUP: $38.31SMA50: $40.18SMA200: $43.09

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

PLOW Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 PLOW Butterfly Map → + Track PLOW →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

13.1%/yr Implied 5Y Growth

vs. +15.4% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on PLOW today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for PLOW. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for PLOW today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (PLOW)

Industrials Rank #64 of 485 ⚔️ ASTE vs PLOW Full Matrix →

1. Head-to-Head Industrials Peer Comparison (PLOW vs. ASTE, MTW, HY, WNC)

Industry: Construction/Ag Equipment/Trucks (14 Tracked Issuers)

Across 485 tracked Industrials securities in the Roarable RQD universe, Douglas Dynamics Inc. (PLOW) ranks #64 by composite RQD confidence (67/100, grade C+) and #257 by equity capitalization ($911.3M). Within this direct 5-issuer industry benchmark cohort, PLOW leads on earnings valuation at 19.6x trailing P/E, while WNC leads on capital efficiency and profitability with 31.2% ROIC and — gross margin. PLOW currently leads its immediate peer cohort in composite quantitative strength at 67/100 (C+).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
PLOW ACTIVE Douglas Dynamics Inc.	C+	67/100	19.6x	26.6%	20.7%	-0.85%	$911.3M	Benchmark Subject
ASTE Astec Industries Inc.	D	48/100	23.7x	26.5%	5.6%	-1.60%	$904.2M	/aste-vs-plow →
MTW Manitowoc Company Inc.	D	46/100	119.2x	18.1%	6.9%	-3.23%	$830.5M	/mtw-vs-plow →
HY Hyster-Yale Inc. (Class A)	D-	37/100	—	16.8%	-3.7%	-2.90%	$510.8M	/hy-vs-plow →
WNC Wabash National Corporation	D	49/100	—	—	31.2%	-11.46%	$478.3M	/wnc-vs-plow →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001287213

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Douglas Dynamics Inc. (PLOW) reported GAAP revenue of $656.1M (+15.4% vs. FY2024 revenue of $568.5M , and +15.5% cumulative change since FY2023) , GAAP net income of $46.9M, operating cash flow of $74.7M, and free cash flow of $63.9M (+91.4% YoY). On the balance sheet, PLOW closed FY2025 with $626.7M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 7/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$656.1M	$46.9M	$74.7M	$63.9M	$626.7M	—
FY2024 (FY)	2024-12-31	$568.5M	$56.2M	$41.1M	$33.4M	$590.0M	—
FY2023 (FY)	2023-12-31	$568.2M	$23.7M	$12.5M	$12.5M	—	—

3. PLOW Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is PLOW stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does PLOW compare to ASTE and MTW in the Industrials sector?

What are the biggest fundamental strengths and SEC risk factors for PLOW?

Where is PLOW trading relative to its 50-day, 200-day, and 52-week technical levels?

PLOW last traded at $39.49 (-0.85% on volume of 193,538 shares), positioning the stock -1.72% below its 50-day simple moving average ($40.18) and -8.35% below its 200-day simple moving average ($43.09). Across its 52-week range of $28.52 to $55.00, PLOW sits at the 41.4% percentile with a 14-day RSI of 45.2 (NEUTRAL RANGE) and an implied next-earnings move of ±4.2% ($37.83 to $41.15).

PLOW Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is Douglas Dynamics Inc. (PLOW)?

In FY 2025 (10-K), PLOW converted $656.1M of revenue into a 26.6% gross margin, 11.2% operating margin, and $63.9M in free cash flow (9.7% FCF margin).

Direct Sub-Reports: PLOW RQD Cockpit PLOW 12M Forecast PLOW Earnings & Move PLOW Dividends & DRIP PLOW Insiders & 13F PLOW Whale Options PLOW Profit Sankey PLOW News & Why

ROARABLE RATING BRIEF • RQD 67/100 (C+) ✓ STAGE-C NUMBER FIREWALL VERIFIED

PLOW — Douglas Dynamics Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:31:52Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, PLOW scores 67 out of 100, earning a C+ grade and the verdict "Roarable Hold — Upper Neutral / Watch for Breakout." The five pillars are:

Fundamental Cash Engine: 18 / 20. Per the RQD rating, this pillar reflects ROIC of 20.7% and an FCF yield of 6.95%. This is the strongest part of the profile and suggests the business converts capital into returns efficiently relative to the rating's framework.
Whale 13F Flow: 7 / 20. Per the RQD rating, institutional accumulation and options positioning are weak relative to the other pillars. For a prospective investor, this means limited evidence of large-holder conviction in the source data.
Insider Conviction: 19 / 20. Per the RQD rating, SEC Form 4 and Congressional PTR cluster flow scores highest of the five pillars. The underlying trade-level detail is not provided in the source data, so the score cannot be decomposed further here.
Macro Regime Fit: 8 / 20. Per the RQD rating, beta of 1.0 and sector sensitivity score low. The stock is rated as moving in line with the market, with exposure to sector-specific swings.
Forensic Balance Sheet: 15 / 20. Per the RQD rating, Altman Z of 2.5, Piotroski F of 7/9, and Debt/Equity of 0.5 support a moderately sound balance sheet.

Investor implications: the upside case rests mainly on cash generation and insider signals, while the weak 13F flow and macro fit temper conviction. Valuation is moderate relative to the reported multiples (P/E TTM 19.6, forward P/E 16.5), but the rating's verdict is neutral, so the source data does not support a directional call. This is educational framing, not personalized advice.

Snapshot

Price	Market Cap	P/E (TTM)	Forward P/E	EV/EBITDA	EPS (TTM)	Dividend Yield	Beta	52-Wk Range	ROIC %
$39.83	$919.2M	19.6	16.5	11.1	2.03	3.04%	1.0	$28.52 - $55	20.7%

Business

Douglas Dynamics Inc. (PLOW) is a NYSE-listed issuer in the Industrials sector, specifically Construction/Ag Equipment/Trucks, per the company profile. The profile identifies the company's market capitalization as $0.9B. Specific product lines, customer segments, and revenue mix are not available in source data. Gross margin of 26.6%, operating margin of 11.2%, and net margin of 7.1% are reported per the market data section.

Recent Catalysts & News Wire Analysis

Per the recent news and catalysts section, six items reference PLOW with a YELLOW light classification:

Yahoo Finance reports a Q3 preview covering the upcoming earnings release.
TradingView publishes an estimates item for PLOW.
Simply Wall St publishes a stock forecast and analyst predictions item.
MarketBeat reports an average price target of $51.67 according to brokerages.
Yahoo Finance announces a Third Quarter 2026 earnings release and conference call.
MarketBeat reports PLOW is expected to post quarterly earnings on Monday.

The key near-term catalyst is the Q3 2026 earnings release, referenced across multiple items. Per the Butterfly Supply-Chain Graph, the supply chain is recorded as "NONE," with no butterfly links or proprietary signals. Risk watch items are not separately itemized in the source data.

Butterfly Effect: 2nd-Order Supply-Chain & Sector Ripples

Per the Butterfly Supply-Chain Graph, the supply chain is recorded as "NONE," with an empty set of butterfly links and no proprietary signals. Upstream suppliers, downstream customers, and sector correlations are not available in source data. Investors should note that second-order ripple analysis cannot be performed from the provided sources; the sector label (Industrials, Construction/Ag Equipment/Trucks) is the only contextual anchor available.

Analyst View & Smart Money Ownership

Per the analyst data section, no analyst consensus rating, individual estimates, or revisions are provided. The news wire references an average price target of $51.67 according to brokerages, attributed to a MarketBeat headline, but the underlying analyst count and rating distribution are not available in source data. Per the holders section, no 13F institutional holder detail, SEC Form 4 insider transactions, or Congressional trades are provided at the transaction level. The RQD rating's insider conviction pillar (19 / 20) and whale flow pillar (7 / 20) are the only summarized ownership signals available.

Open Questions

What are the cash and debt balances behind the Debt/Equity of 0.5 and the Altman Z-Score of 2.5?
What was reported EPS in each fiscal period, given the source lists EPS as N/A for FY 2023 through FY 2025?
What specific insider and Congressional transactions drive the 19 / 20 insider conviction score?
What is the number of analysts and rating distribution behind the $51.67 average price target?
What is the Q3 2026 earnings consensus and how do the reported results compare to it?

PLOW Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Douglas Dynamics Inc. (PLOW) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to PLOW Debate Forum (3) ↓

🟡 MARKET WIRE Yahoo Finance • 19h ago

Douglas Dynamics (PLOW) reports Q3: everything you need to know ahead of earnings

Yahoo Finance report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 22h ago

Douglas Dynamics, Inc. Estimates – NYSE:PLOW

TradingView report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Simply Wall St • 1d ago

Douglas Dynamics (NYSE:PLOW) Stock Forecast & Analyst Predictions

Simply Wall St report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 1d ago

Douglas Dynamics, Inc. (NYSE:PLOW) Stock Has Average Price Target of $51.67 According to Brokerages

MarketBeat report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance • 1d ago

Douglas Dynamics Announces Third Quarter 2026 Earnings Release and Conference Call

Yahoo Finance report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE MarketBeat • 1d ago

Douglas Dynamics (PLOW) Expected to Post Quarterly Earnings on Monday

MarketBeat report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE https://www.dars.gov.et/ • 1d ago

Douglas Dynamics (PLOW) Slips 1.19% to $39.49, Holding Above Key Support - Price Momentum Stocks

https://www.dars.gov.et/ report covering Douglas Dynamics Inc. (PLOW) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟢 CATALYST Yahoo • 7d ago

1 industrials stock on our watchlist and 2 facing challenges

Even if they go mostly unnoticed, industrial businesses are the backbone of our country. Still, their generally high capital requirements expose them to the ups and downs of economic cycles, and the market seems to be ba

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

PLOW Bull vs. Bear Conversation Board — What's Your Call at $39.49?

🐂 50% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON PLOW 🐻 50% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk ⚖️ DEBATE HOST 🎯 Target: $43.02 (+8.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is PLOW (C+ • RQD 67/100) a Buy at $39.83?

Welcome to the PLOW (Douglas Dynamics Inc.) Roar Pit. Current RQD Composite is 67/100 (Roarable Hold — Upper Neutral / Watch for Breakout) in Construction/Ag Equipment/Trucks. Bulls point to capital efficiency (20.7% ROIC), while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

FO ForensicBear Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $33.06 (-17.0%)

Spot @ $39.83

Pump the brakes on PLOW — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on PLOW, but look at what you are paying: 19.6x trailing P/E with 26.6% gross margins. Unless Douglas Dynamics Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

TA TapeReader_Pro Verified K Arena Trader 🐂 BULLISH 🎯 Target: $47.80 (+20.0%)

Spot @ $39.83

PLOW cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on PLOW, the market is fixating on short-term headline noise in Construction/Ag Equipment/Trucks and ignoring the balance sheet and cash flow trajectory. At $39.83 (52-wk range $28.52 - $55.00), any beat on forward guidance forces shorts and underweight funds to chase.