Beutel Goodman holds 4.7% of Harley-Davidson (NYSE: HOG) shares

Rhea-AI Filing Summary

Beutel, Goodman & Company Ltd., a Canadian investment firm, reports beneficial ownership of 5,552,301 Harley-Davidson, Inc. common shares, representing about 4.7% of the class. It holds sole voting power over 5,287,766 shares and sole dispositive power over all 5,552,301 shares.

The shares are reported as being acquired and held in the ordinary course of business, and not for the purpose of changing or influencing control of Harley-Davidson. This amended Schedule 13G reflects that the firm now owns 5 percent or less of Harley-Davidson’s outstanding common stock.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

HARLEY-DAVIDSON, INC.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

412822108

(CUSIP Number)

01/31/2026

(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)

SCHEDULE 13G

CUSIP No. 412822108

1

Names of Reporting Persons

Beutel, Goodman & Co Ltd.

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

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,287,766.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 5,552,301.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,552,301.00

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)

4.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: HARLEY-DAVIDSON, INC.
(b)	Address of issuer's principal executive offices: 3700 W JUNEAU AVE, 3700 W JUNEAU AVE, MILWAUKEE, WISCONSIN, 53208
Item 2.
(a)	Name of person filing: Beutel, Goodman & Company Ltd.
(b)	Address or principal business office or, if none, residence: 20 Eglinton Ave. W., Suite 2000 Toronto, Ontario, M4R 1K8, Canada
(c)	Citizenship: Canadian incorporated company
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 412822108
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: 5,552,301
(b)	Percent of class: 4.6997 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,287,766
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 5,552,301
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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.

Beutel, Goodman & Co Ltd.

Signature:	Michal Pomotov
Name/Title:	General Counsel & CCO
Date:	02/04/2026

FAQ

What does Beutel, Goodman & Company Ltd. report in its Harley-Davidson (HOG) Schedule 13G/A?

Beutel, Goodman & Company Ltd. reports beneficial ownership of 5,552,301 Harley-Davidson common shares, equal to about 4.7% of the class. The firm has sole voting power over 5,287,766 shares and sole dispositive power over all 5,552,301 shares reported.

What percentage of Harley-Davidson (HOG) shares does Beutel Goodman currently own?

Beutel Goodman reports beneficial ownership of approximately 4.7% of Harley-Davidson’s common shares. This level is based on 5,552,301 shares held. The filing also notes that this represents ownership of 5 percent or less of the issuer’s outstanding common stock.

Does Beutel Goodman intend to influence control of Harley-Davidson (HOG) with this stake?

No. The filing certifies the Harley-Davidson shares were acquired and are held in the ordinary course of business. It states they were not acquired and are not held to change or influence control, aside from activities tied to a nomination under the specified SEC rule.

What kind of voting and dispositive power does Beutel Goodman have over its Harley-Davidson (HOG) shares?

Beutel Goodman reports sole voting power over 5,287,766 Harley-Davidson common shares and no shared voting power. It also reports sole dispositive power over 5,552,301 shares and no shared dispositive power, meaning it alone decides how those shares are voted and disposed.

Why is this Harley-Davidson (HOG) Schedule 13G/A labeled as an amendment?

It is labeled Amendment No. 1 because it updates a prior Schedule 13G beneficial ownership report. The current filing reflects Beutel Goodman’s present holdings of 5,552,301 Harley-Davidson common shares, representing about 4.7% of the class, now at or below the 5% threshold.