Donald Smith & Co., Inc. reported beneficial ownership of 10,016,874 shares of Harley-Davidson, Inc. common stock, representing 8.96% of the class as disclosed on the Schedule 13G filing. The filing states sole voting power of 9,712,420 shares and sole dispositive power of 9,923,550 held by Donald Smith & Co., Inc., and a separate 93,324 share position held by DSCO Value Fund, L.P.
The filing clarifies that Donald Smith & Co., Inc. acts as an investment adviser and does not serve as custodian; ultimate voting and investment power for these shares rests with the advisory clients. The filing is signed by Richard L. Greenberg, CEO and Co-CIO, dated 05/13/2026.
Positive
None.
Negative
None.
Insights
Large passive stake disclosed by an investment adviser in Harley-Davidson (HOG).
The Schedule 13G lists 10,016,874 shares representing 8.96% of the class, with Donald Smith & Co., Inc. reporting sole voting and dispositive power over most shares. The filing identifies an adviser-client relationship and states the adviser does not act as custodian.
Key dependencies include client control over dividends and sale proceeds and the adviser’s discretionary authority, which "may be revoked". Subsequent filings could show changes if clients alter holdings; cash-flow treatment and timing of any sales are not disclosed in the excerpt.
Key Figures
Beneficial ownership:10,016,874 sharesPercent of class:8.96%Sole voting power:9,712,420 shares+3 more
6 metrics
Beneficial ownership10,016,874 sharesAggregate position reported on Schedule 13G
Percent of class8.96%Percent of Harley-Davidson common stock reported
Sole voting power9,712,420 sharesSole power to vote reported for Donald Smith & Co., Inc.
Sole dispositive power9,923,550 sharesSole power to dispose reported for Donald Smith & Co., Inc.
DSCO Value Fund holding93,324 sharesPosition held by DSCO Value Fund, L.P.
Filing signature date05/13/2026Signature date on Schedule 13G
Key Terms
Schedule 13G, beneficially owned, sole dispositive power, custodian
4 terms
Schedule 13Gregulatory
"Item 1. (a) Name of issuer: HARLEY-DAVIDSON, 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.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole dispositive powerregulatory
"Item 4. (iii) Sole power to dispose or to direct the disposition of: 9,923,550"
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.
custodianfinancial
"Item 6. Donald Smith & Co., Inc. does not serve as custodian"
A custodian is a financial institution that holds and safeguards an investor's assets—such as stocks, bonds, or cash—and records transactions on the investor's behalf. Think of it as a trusted caretaker or safe-deposit box for investments; it helps prevent loss or theft, handles paperwork and transfers, and provides transparency and regulatory checks, so investors can focus on decisions rather than the mechanics or security of asset storage.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
HARLEY-DAVIDSON, INC.
(Name of Issuer)
Common
(Title of Class of Securities)
412822108
(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):
412822108
1
Names of Reporting Persons
DONALD SMITH & CO., INC.
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
9,712,420.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
9,923,550.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,016,874.00
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)
9.0 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
412822108
1
Names of Reporting Persons
DSCO Value Fund, L.P.
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
93,324.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
93,324.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
10,016,874.00
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)
9.0 %
12
Type of Reporting Person (See Instructions)
PN
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:
Donald Smith & Co.,Inc.
(b)
Address or principal business office or, if none, residence:
152 West 57th Street
New York, NY 10019
(c)
Citizenship:
A Delaware Corporation
(d)
Title of class of securities:
Common
(e)
CUSIP Number(s):
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:
10,016,874
(b)
Percent of class:
8.96%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
Donald Smith & Co., Inc. 9,712,420
DSCO Value Fund, L.P. 93,324
(ii) Shared power to vote or to direct the vote:
SEE ITEM 6
(iii) Sole power to dispose or to direct the disposition of:
Donald Smith & Co., Inc. 9,923,550
DSCO Value Fund, L.P. 93,324
(iv) Shared power to dispose or to direct the disposition of:
SEE ITEM 6
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.
1. Donald Smith & Co., Inc. does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client?s custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the institutional clients which Donald Smith & Co., Inc. serves as investment advisor. Any and all discretionary authority which has been delegated to Donald Smith & Co., Inc. may be revoked in whole or in part at any time. To the knowledge of Donald Smith & Co., Inc., with respect to all securities reported in this schedule owned by advisory clients of Donald Smith & Co., Inc., not more than 5% of the class of such securities is owned by any one client. 2. With respect to the remaining securities owned, various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock of Harley Davidson Inc. No one person?s interest in the Common Stock of Harley Davidson Inc. is more than five percent of the total outstanding Common Stock.
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.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Donald Smith & Co., Inc. IA
DSCO Value Fund, L.P. PN
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.
What stake does Donald Smith & Co. report in Harley-Davidson (HOG)?
Donald Smith & Co. reports beneficial ownership of 10,016,874 shares, representing 8.96% of Harley-Davidson common stock, per the Schedule 13G dated 05/13/2026. The filing lists voting and dispositive power figures for the adviser and its fund.
Does Donald Smith & Co. control the shares it reports for HOG?
The filing shows Donald Smith &Co., Inc. has sole voting power of 9,712,420 shares and sole dispositive power of 9,923,550 shares. It also states the adviser does not serve as custodian and clients hold ultimate authority over dividends and sale proceeds.
What portion of the disclosed position is held by DSCO Value Fund, L.P.?
DSCO Value Fund, L.P. is shown with beneficial ownership of 93,324 shares of Harley-Davidson common stock. Those shares are included in the aggregate 10,016,874 share total reported on the Schedule 13G dated 05/13/2026.
Is the Donald Smith filing an active trading notice or a passive disclosure?
This Schedule 13G is a passive/beneficial‑ownership disclosure used by an investment adviser; it reports holdings rather than a specific transaction. The filing states discretionary authority may be revoked, but it does not describe any trade execution, timing, or proceeds.
Who signed the Schedule 13G for Donald Smith & Co. and when?
The Schedule 13G is signed by Richard L. Greenberg, CEO and Co-CIO, with signature date 05/13/2026. The filing supplies the adviser’s address and CUSIP 412822108 for the Harley-Davidson common stock class.
