Donald Smith & Co., Inc. is a registered investment adviser specializing in managing value equity accounts for tax-exempt and taxable funds, and high net worth individuals. Our firm 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 100% employee owned. We are a deep-value manager employing a strict bottom-up approach. We generally invest in stocks of out-of-favor companies that sell in the bottom decile of price-to-tangible book value ratios, and that have significant 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. Our approach is highly differentiated. Only 1/10 of 1% of all money managers focus on investing in the lowest decile of price-to-tangible book value stocks. Even fewer money managers perform detailed fundamental analysis when employing a low price-to-tangible book value strategy. We offer five long-only products: All Cap Value Equity, Large Cap Concentrated Value Equity, Midcap Value Equity, Small Cap Value Equity and Micro Cap Value Equity.