Donald G. Smith - Donald Smith & Co. 13F Activity & Position Changes (Q4 2025)

According to the SEC 13F filed on Feb 11, 2026, the Donald Smith & Co. portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2025, the filing reported:

New Buys - West Fraser Timber Co. Ltd, Waterstone Financial, Inc.

Increases - Ally Financial Inc., AdvanSix Inc., Citigroup, Inc., Centerra Gold Inc., Civitas Resources, Inc., and 22 more

Reductions - AerCap, Air France KLM, Allegiant Travel Company, Algoma Steel Group Inc., Beazer Homes USA, Inc., and 20 more

Complete Exits - Guild Holdings Company, Micron Technology, Inc.

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2025	AER AerCap	AerCap	Sell	-41,823	-1.3%	$443.17M	3,082,705
Q4 2025	AFLYY Air France KLM	Air France KLM	Sell	-11,884	-0.3%	$5.98M	4,580,489
Q4 2025	ALGT Allegiant Travel Company	Allegiant Travel Company	Sell	-72,123	-4.1%	$144.78M	1,697,898
Q4 2025	ALLY Ally Financial Inc.	Ally Financial Inc.	Buy	+163,046	+6.4%	$123.32M	2,722,909
Q4 2025	ASIX AdvanSix Inc.	AdvanSix Inc.	Buy	+19,390	+8.6%	$4.25M	245,950
Q4 2025	ASTL Algoma Steel Group Inc.	Algoma Steel Group Inc.	Sell	-75,389	-1.3%	$24.03M	5,861,631
Q4 2025	BZH Beazer Homes USA, Inc.	Beazer Homes USA, Inc.	Sell	-14,284	-0.5%	$61.11M	3,014,788
Q4 2025	C Citigroup, Inc.	Citigroup, Inc.	Buy	+56,807	+4.7%	$147.08M	1,260,430
Q4 2025	CGAU Centerra Gold Inc.	Centerra Gold Inc.	Buy	+2,535,492	+21.8%	$203.45M	14,158,116
Q4 2025	CIVI Civitas Resources, Inc.	Civitas Resources, Inc.	Buy	+158,916	+3.7%	$121.51M	4,485,476
Q4 2025	CLDT Chatham Lodging Trust (REIT)	Chatham Lodging Trust (REIT)	Buy	+88,879	+1.9%	$31.90M	4,684,548
Q4 2025	CRBG Corebridge Financial Inc.	Corebridge Financial Inc.	Buy	+930,669	+27.3%	$131.07M	4,344,219
Q4 2025	EG Everest Group	Everest Group	Buy	+44,272	+11.3%	$147.85M	435,696
Q4 2025	EGO Eldorado Gold Corporation	Eldorado Gold Corporation	Sell	-516,110	-6.6%	$264.37M	7,360,022
Q4 2025	EQX Equinox Gold Corp.	Equinox Gold Corp.	Sell	-12,981,833	-64.8%	$98.97M	7,049,326
Q4 2025	G2415A113 Cool Company	Cool Company	Sell	-2,734,318	-78.8%	$7.12M	737,772
Q4 2025	G33856108 Ferroglobe	Ferroglobe	Sell	-2,194,891	-29.1%	$24.87M	5,359,073
Q4 2025	G42706104 Hamilton Insurance	Hamilton Insurance	Buy	+646,106	+71.3%	$43.33M	1,552,870
Q4 2025	G9456A100 Golar LNG	Golar LNG	Sell	-144,624	-6.3%	$80.06M	2,151,627
Q4 2025	GAU Galiano Gold Inc.	Galiano Gold Inc.	Sell	-1,159,642	-4.8%	$58.08M	22,956,283
Q4 2025	GGB Gerdau S.A.	Gerdau S.A.	Buy	+7,982,296	+49.2%	$89.34M	24,211,588
Q4 2025	GHLD Guild Holdings Company	Guild Holdings Company	Sell - Position Exit	-158,988	-100.0%	$0.00	-
Q4 2025	GM General Motors Company	General Motors Company	Sell	-79,385	-4.5%	$138.44M	1,702,430
Q4 2025	GNW Genworth Financial Inc	Genworth Financial Inc	Sell	-1,200,231	-4.8%	$214.70M	23,775,853
Q4 2025	HBM Hudbay Minerals Inc.	Hudbay Minerals Inc.	Sell	-5,725,208	-99.4%	$712.87K	35,913
Q4 2025	HHH Howard Hughes Holdings Inc.	Howard Hughes Holdings Inc.	Sell	-65,226	-6.0%	$81.44M	1,020,969
Q4 2025	HMC Honda Motor Company, Ltd.	Honda Motor Company, Ltd.	Buy	+590,128	+28.7%	$78.09M	2,648,828
Q4 2025	HOFT Hooker Furnishings Corporation	Hooker Furnishings Corporation	Buy	+70,681	+7.1%	$12.04M	1,066,754
Q4 2025	HOG Harley-Davidson, Inc.	Harley-Davidson, Inc.	Buy	+2,095,477	+30.8%	$182.34M	8,899,204
Q4 2025	IAG Iamgold Corporation	Iamgold Corporation	Sell	-5,023,444	-20.4%	$323.70M	19,630,207

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