Donald Smith & Co., Inc. was formed in 1975 as Home Portfolio Advisors, Inc. The name and ownership of Home Portfolio Advisors, Inc. was changed to its present form in 1983. We are a registered investment adviser specializing in managing value equity accounts for large tax-exempt and taxable funds. We offer five products: All Cap Value Equity, Large Cap Concentrated Value Equity, Midcap Value Equity, Small Cap Value Equity and Micro Cap Value Equity.

We are a deep-value manager employing a strict bottom-up approach. We invest in stocks of out-of-favor companies selling at discounts to tangible book value. We look for companies in the bottom decile of price-to-tangible book value ratios and a positive outlook for earnings potential over the next 2-4 years.

We have practiced our investment philosophy since our inception with great success, and have never deviated from our style. We have only one line of business and thus are able to devote all of our time to managing client assets. This allows us to conduct focused, detailed fundamental analysis of companies we invest in. Additionally, there are only a handful of money managers who practice our philosophy, much less stay as consistent to it as we have. Only 1/10 of 1% of all money managers invest in the lowest decile of stocks when measured by price-to-tangible book value. We are not “closet indexers.”

We work as a team, with Donald G. Smith, Chief Investment Officer, as the team leader. Working with him are: Richard L. Greenberg, Vice President and Senior Portfolio Manager/Director of Research; Kamal Shah, Trading & Client Relations; Jon Hartsel, Research Analyst;Velin Mezinev, Research Analyst; and Rolf Heitmeyer, Research Analyst; Robert D. Leppo and Calvin Culver as Consultants.