Vanguard Portfolio Management (DCI) reports 6,535,093 shares, 5.64% stake

Rhea-AI Filing Summary

Vanguard Portfolio Management reported beneficial ownership of 6,535,093 shares of Donaldson Co Inc common stock, representing 5.64% of the class as of 03/31/2026. The filer discloses sole voting power for 16,944 shares and sole dispositive power for 6,535,093 shares; no shared voting or dispositive power is reported. The filing states these holdings include securities held by Vanguard funds and managed accounts for which Vanguard affiliates exercise voting or dispositive power.

Insights

Institutional Ownership Analyst

Vanguard holds a meaningful passive stake in Donaldson at 5.64%.

Vanguard Portfolio Management reports beneficial ownership of 6,535,093 shares, equal to 5.64% of common stock as of 03/31/2026. The filing shows limited voting power relative to dispositive power: 16,944 shares with sole voting power versus full dispositive authority over all reported shares.

Holdings are held across Vanguard funds and managed accounts; voting and disposition authority is concentrated in the reporting business unit and affiliated divisions. Subsequent institutional disclosures or amendments would show any changes to this passive position.

Corporate Governance Specialist

Voting influence appears modest compared with economic exposure.

The filing distinguishes sole voting power of 16,944 shares from sole dispositive power of 6,535,093 shares, indicating that Vanguard controls the economic interest while delegating or limiting voting decisions on most shares. This is common for asset managers that vote some funds centrally or via affiliate structures.

Shareholders seeking clarity on voting alignment should review Vanguard disclosures and future amendments for any shifts in voting power or notifications about coordinated voting policies.

Key Figures

Shares beneficially owned: 6,535,093 shares Percent of class: 5.64% Sole voting power: 16,944 shares +2 more

5 metrics

Shares beneficially owned 6,535,093 shares Beneficial ownership as of 03/31/2026

Percent of class 5.64% Percent of Donaldson common stock as of 03/31/2026

Sole voting power 16,944 shares Sole power to vote or direct the vote

Sole dispositive power 6,535,093 shares Sole power to dispose or direct disposition

CUSIP 257651109 Donaldson Co Inc common stock CUSIP

Key Terms

Beneficial ownership, Sole dispositive power, Schedule 13G

3 terms

Beneficial ownership regulatory

"This reflects the securities beneficially owned, or deemed to be beneficially owned"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 6535093"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Schedule 13G regulatory

"Item 1. | (a) | Name of issuer: Donaldson Co Inc"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Donaldson Co Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

257651109

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 257651109

1

Names of Reporting Persons

Vanguard Portfolio Management

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 16,944.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,535,093.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,535,093.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.64 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by Vanguard Portfolio Management LLC and the following affiliates of Vanguard Portfolio Management LLC or business divisions of such affiliates: Vanguard Fiduciary Trust Company and Vanguard Global Advisers, LLC. This Schedule 13G includes securities held by Vanguard funds, or sleeves thereof, over which Vanguard Portfolio Management LLC exercises dispositive power, in addition to securities held by clients over which the affiliates or business divisions of such affiliates indicated above exercise dispositive and/or voting power. This Schedule 13G does not include securities, if any, beneficially owned by other subsidiaries or affiliates of Vanguard Portfolio Management LLC, or business divisions of such subsidiaries whose ownership of securities is disaggregated from that of the reporting business unit in accordance with such release.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Donaldson Co Inc
(b)	Address of issuer's principal executive offices: 1400 West 94th Street, Bloomington, MN, 55431
Item 2.
(a)	Name of person filing: Vanguard Portfolio Management
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP Number(s): 257651109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6535093
(b)	Percent of class: 5.64 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 16944
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6535093
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Vanguard Portfolio Management, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Vanguard Portfolio Management

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	04/29/2026

FAQ

What stake does Vanguard Portfolio Management hold in DCI?

Vanguard Portfolio Management holds 6,535,093 shares, or 5.64% of DCI common stock. The position is reported as of 03/31/2026 in the Schedule 13G filing and reflects holdings across Vanguard funds and managed accounts.

How much voting power does Vanguard report for Donaldson (DCI)?

Vanguard reports sole voting power for 16,944 shares and no shared voting power. The filing shows the filer has sole dispositive power over 6,535,093 shares while shared voting/dispositive powers are reported as zero.

Does the filing state whether Vanguard acts on behalf of other clients?

Yes. The filing states the holdings include securities held by Vanguard funds and managed accounts. It explains that affiliates exercise voting or dispositive power for those funds and that other Vanguard subsidiaries may hold separate, disaggregated positions.

What date is the ownership amount reported as of in the Schedule 13G?

The beneficial ownership amount is reported as of 03/31/2026. The Schedule 13G excerpt lists the share count and percentage tied to that specific date and is signed on 04/29/2026.

Who signed the Schedule 13G for Vanguard Portfolio Management?

The filing is signed by Ashley Grim, Head of Global Fund Administration. The signature block in the excerpt shows the filing date as 04/29/2026 associated with that signatory.