SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* STRONGBOW CAPITAL LTD (Last) (First) (Middle) QUEENSGATE HOUSE, SOUTH CHURCH ST. P.O. BOX 1234GT (Street) CAYMAN ISLANDS (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol DUCKWALL ALCO STORES INC [ DUCK ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/28/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock $0.0001 Par Value	12/28/2005		P		10,000	A	$21.99(1)	514,044	D(4)
Common Stock $0.0001 Par Value	12/30/2005		P		2,473	A	$22.74(2)	516,517	D(4)
Common Stock $0.0001 Par Value	01/04/2006		P		20,000	A	$23.96	536,517	D(4)
Common Stock $0.0001 Par Value	01/09/2006		P		7,000	A	$24.5(3)	543,517	D(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* STRONGBOW CAPITAL LTD (Last) (First) (Middle) QUEENSGATE HOUSE, SOUTH CHURCH ST. P.O. BOX 1234GT (Street) CAYMAN ISLANDS (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Strongbow Capital Management, Ltd. (Last) (First) (Middle) QUEENSGATE HOUSE SOUTH CHURCH STREET, P.O. BOX 1234GT (Street) CAYMAN ISLANDS (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* FRENCH RAYMOND A D (Last) (First) (Middle) DELAPORTE POINT TH3, BOX CB 13016 (Street) NASSAU (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The purchases were effected in multiple transactions, at varying prices on December 28, 2005, as follows: 8,978 shares at $22.00; 500 shares at $21.95; 126 shares at $21.80; 100 shares at $21.89; 99 shares at $21.91; 99 shares at $21.90; and 98 shares at $21.79. The weighted average purchase price for these transactions was approximately $21.99 per share.

2. The purchases were effected in multiple transactions, at varying prices on December 30, 2005, as follows: 2,448 shares at $22.75 and 25 shares at $22.25. The weighted average purchase price for these transactions was approximately $22.74 per share.

3. The purchases were effected in multiple transactions, at varying prices on January 9, 2006, as follows: 6,905 shares at $24.50 and 95 shares at $24.49. The weighted average purchase price for these transactions was $24.50 per share.

4. Strongbow Capital Management, Ltd. acts as an investment manager to Strongbow Capital, Ltd. Strongbow Capital Management, Ltd. is the sole owner of the voting shares of Strongbow Capital, Ltd. and is the controlling entity of Strongbow Capital, Ltd. Raymond A.D. French is a director of Strongbow Capital, Ltd. and is the controlling person of Strongbow Capital Management, Ltd.

	/s/ Raymond A. D. French	05/09/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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