[SCHEDULE 13G/A] Harley-Davidson, Inc. SEC Filing

Rhea-AI Filing Summary

Boston Partners reported beneficial ownership of 3,909,716 shares of Harley‑Davidson common stock, representing 3.22% of the class. The filing shows Boston Partners has sole voting power over 3,671,030 shares and sole dispositive power over 3,909,716 shares.

The statement classifies Boston Partners as an investment adviser and includes a certification that the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Positive

• Transparent disclosure of beneficial ownership: 3,909,716 shares disclosed
• Clear voting and dispositive power metrics provided: sole voting power over 3,671,030 shares and sole dispositive power over 3,909,716 shares
• Classification as an investment adviser (IA) and certification that holdings are held in the ordinary course of business

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine Schedule 13G disclosure of a sub‑5% passive stake; no indication of an activist intent.

Boston Partners reports ownership of 3,909,716 Harley‑Davidson shares (3.22%), with sole voting power over 3,671,030 shares. As an investment adviser filing under the Schedule 13G framework, the filing signals a passive investment position rather than an intent to influence control. For investors, this is a transparency event but not a strategic shift in ownership that typically triggers market revaluation.

Corporate Governance Expert

TL;DR: Disclosure shows meaningful but non‑controlling ownership; governance impact is limited absent further action.

The filing confirms Boston Partners holds a material minority stake but explicitly certifies the holdings are not for the purpose of changing issuer control. Sole voting power over a portion of the stake is noted, yet the overall position (3.22%) remains below common thresholds for exerting governance control. This should be viewed as informative for ownership visibility rather than a governance event.

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 Stock

(Title of Class of Securities)

412822108

(CUSIP Number)

06/30/2025

(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

Boston Partners

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,671,030.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,909,716.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,909,716.00

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)

3.22 %

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, MILWAUKEE, WISCONSIN 53208
Item 2.
(a)	Name of person filing: Boston Partners
(b)	Address or principal business office or, if none, residence: ONE BEACON STREET 30TH FLOOR BOSTON, Massachusetts 02108
(c)	Citizenship: Boston Partners - DELAWARE
(d)	Title of class of securities: Common Stock
(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: 3,909,716
(b)	Percent of class: 3.22 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Boston Partners - 3,671,030
	(ii) Shared power to vote or to direct the vote: Boston Partners - 0
	(iii) Sole power to dispose or to direct the disposition of: Boston Partners - 3,909,716
	(iv) Shared power to dispose or to direct the disposition of: Boston Partners - 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.

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.

Boston Partners

Signature:	/s/Akiko Lindholm
Name/Title:	Senior Compliance Manager
Date:	08/11/2025

FAQ

How many Harley‑Davidson (HOG) shares does Boston Partners own?

Boston Partners reports beneficial ownership of 3,909,716 shares of Harley‑Davidson common stock.

What percentage of HOG does Boston Partners' stake represent?

The filing states the position represents 3.22% of the class.

Does Boston Partners have voting power over the shares?

Yes. The filing reports sole voting power over 3,671,030 shares and sole dispositive power over 3,909,716 shares.

Is Boston Partners trying to influence control of Harley‑Davidson?

No. The filing includes a certification that the securities are held in the ordinary course of business and were not acquired or held to change or influence control of the issuer.

What type of filer is Boston Partners on this Schedule 13G/A?

Boston Partners is identified as an investment adviser (IA) in the filing.