SCHEDULE: Donald Smith & Co. Discloses 5.6% Stake in Harley-Davidson

Investment adviser Donald Smith & Co., Inc. and DSCO Value Fund, L.P. have reported a combined 5.6% beneficial ownership stake in Harley-Davidson, Inc. common stock.

Summary

• Donald Smith & Co., Inc. and DSCO Value Fund, L.P. collectively beneficially own 6,803,727 shares of Harley-Davidson, Inc. common stock.
• This ownership represents 5.6% of the total outstanding common stock of Harley-Davidson, Inc.
• Donald Smith & Co., Inc. holds sole voting power over 6,600,343 shares and sole dispositive power over 6,742,793 shares.
• DSCO Value Fund, L.P. holds sole voting power over 60,934 shares and sole dispositive power over 60,934 shares.
• The filing certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Harley-Davidson, Inc.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing disclosing beneficial ownership, which typically carries a neutral sentiment as it provides factual information without inherent positive or negative implications for the company's operational performance or strategic direction.

Future Outlook

This filing is a beneficial ownership disclosure and does not contain forward-looking statements or guidance regarding Harley-Davidson, Inc.'s future outlook.

Management Comments

• Richard L. Greenberg, CEO and Co-CIO, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of or with the effect of changing or influencing the control of the issuer.

Industry Context

This filing represents a routine disclosure of a significant passive investment by an institutional investor in a publicly traded company. It does not provide specific insights into broader industry trends for the motorcycle manufacturing sector or the competitive landscape, but rather indicates continued institutional interest in Harley-Davidson, Inc.

Comparison to Industry Standards

• This is a standard Schedule 13G filing, indicating beneficial ownership above 5% by a passive investor, which is a common regulatory requirement for institutional investors across all industries.
• The 5.6% stake is a notable position for an institutional investor in a company of Harley-Davidson's market capitalization, consistent with typical portfolio allocations by investment advisers like Donald Smith & Co., Inc.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional holder, which can be interpreted as a signal of institutional confidence.
• Management: Awareness of a substantial passive investor, though without intent to influence corporate control.

Key Dates

Keywords

Harley-Davidson, HOG, Donald Smith & Co., DSCO Value Fund, beneficial ownership, Schedule 13G, institutional investment, common stock