DONALD SMITH & CO., INC.

CIK 0000814375 · Q2 2026

13F Equity AUM

$5.6B

+1.6% QoQ

Positions

+5 QoQ

AUM Rank

#1,425

Top 11%

Skill Alpha (FF)

+2.1%/yr^ns

No Clear Edge

Rank #1,349 · Top 16%

vs S&P +1.6%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 24.6%Top 10: 42.5%Top 20: 70.6%

AER7.5%

ELD4.8%

CG4.3%

HOG4.0%

MHO4.0%

GNW3.8%

PK3.7%

IMG3.6%

SM3.5%

JXN3.2%

Others (56)57.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services35.9%

Consumer Cyclical18.0%

Industrials13.4%

Basic Materials10.7%

Real Estate8.9%

Unclassified4.9%

Consumer Defensive4.5%

Energy3.6%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 66Median: 0.87%Avg: 1.52%

0–0.5%

25(4.0%)

0.5–1%

10(7.1%)

1–3%

19(40.2%)

3–5%

11(41.2%)

5%+

1(7.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 66vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New6Increased17Decreased38Exited2

New Positions

GBX0.6%

+653K

PDM0.3%

+1.9M

PEB0.2%

+476K

HBM0.1%

+159K

AII0.0%

+116K

GFR0.0%

+296K

Increased

GAU0.9%

+3.2M(+14%)

MOS2.9%

+3.1M(+67%)

GSM0.5%

+2.7M(+50%)

ELD4.8%

+1.5M(+21%)

JRVR0.2%

+619K(+34%)

HMC1.9%

+555K(+16%)

KBH1.9%

+545K(+46%)

PFSI2.9%

+510K(+37%)

NMIH0.6%

+485K(+122%)

SM3.5%

+439K(+6%)

Decreased

GGB1.3%

-6,649,773(-28%)

SSPFF2.6%

-3,322,271(-35%)

GNW3.8%

-3,004,112(-12%)

RLJ2.6%

-2,688,817(-18%)

PK3.7%

-2,093,571(-13%)

IMG3.6%

-1,464,789(-10%)

NMR1.9%

-958,244(-7%)

GLOBAL SHIP LEASE IN…0.5%

-837,241(-53%)

TPC0.7%

-826,285(-63%)

TMHC1.1%

-810,186(-48%)

Exited

GUARDIAN METAL RESOU…

-1,500,556

GPRCHF

-472,001

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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