Donald G. Smith - Donald Smith & Co. Investment Strategy & Portfolio Analysis
How Donald Smith & Co. allocates capital, manages risk, and constructs its portfolio — based on SEC 13F filings.
As of Mar 31, 2026, Donald G. Smith's Donald Smith & Co. portfolio reflects a quant / systematic investor approach across 59 reported 13F positions. Portfolio returns are led by AerCap (~8% of total exposure), with the top five holdings representing approximately 26% of reported value. Across 59 reported holdings, economic exposure is broadly distributed across financials, basic materials, and unknown without dominant single-name concentration. Exposure to high-growth and technology-oriented segments remains limited relative to peers, with performance instead anchored in durable, cash-generating businesses across financials, basic materials, and unknown. The portfolio exhibits extremely low turnover, reinforcing a patient, conviction-led investment approach. Distinctive traits include Long-Term Holder, Broadly Diversified, Economically Diversified.
Investment Style
Value, growth, quality, and behavioral classification from latest 13F holdings.
Primary type: Quant / Systematic Investor
Traits: Long-Term Holder, Broadly Diversified, Economically Diversified, Structurally Diversified
Turnover profile
Moderate
Holding horizon
Long-Term
Portfolio Construction
Concentration and position sizing in the latest filing.
Portfolio construction is lowly concentrated: top three names represent 17.9% of assets, top five 26.5%, and the largest single position is 7.8%.
Top 3 weight
17.9%
Top 5 weight
26.5%
Top 10 weight
44.5%
Largest position
7.8%
Top holdings: AerCap, Centerra Gold Inc., Iamgold Corporation, Eldorado Gold Corporation, SM Energy Company — view full holdings
Sector Preferences
Where capital is allocated by sector.
Capital is tilted toward Financial Services and Basic Materials, with 7 sectors represented in the latest filing.
Leading sectors: Financial Services, Basic Materials, Unknown
Risk Framework
Concentration, diversification, and turnover tolerance.
This investor accepts low single-name risk (largest position 7.8%, top ten 44.5%) and high economic diversification (HHI 0.02). Turnover tolerance maps to a moderate profile.
Largest position
7.8%
Top 10 weight
44.5%
Max sector
25.4%
Diversification
High
Strategy Evolution
How the strategy changed between the two most recent filing periods.
Dec 31, 2025 → Mar 31, 2026
- Top-five concentration fell from 27.3% to 26.5%.
- Dominant sector mix shifted from Basic Materials, Financial Services to Financial Services, Basic Materials.
- Quarter-over-quarter portfolio weight turnover: 11.4%.
For trade-level changes, see the Activity page. View activity.
Similar Investors
Peer group with comparable portfolio behavior.
Similar-investor comparisons are coming soon.