Algoma Steel Group Inc. Schedule 13G: Donald Smith & Co., Inc. reports beneficial ownership of 6,028,929 shares of Common Stock, representing 5.75% of the class. The filing shows sole voting power of 5,891,220 shares and sole dispositive power of 5,973,190 shares. It separately lists DSCO Value Fund, L.P. with 55,739 shares. The filer states it acts as investment advisor and that the ultimate power to receive dividends and sale proceeds rests with its institutional clients. The filing is signed by Richard L. Greenberg as CEO and Co-CIO on 05/13/2026.
Positive
None.
Negative
None.
Insights
An advisory firm reports a >5% passive stake, noting client ownership.
Donald Smith & Co., Inc. discloses beneficial ownership of 6,028,929 shares (5.75%). The filing attributes voting and dispositive powers to the adviser for specified share counts and identifies DSCO Value Fund, L.P. as holding 55,739 shares.
The filing clarifies that the adviser manages discretionary accounts and that institutional clients hold ultimate entitlement to dividends and sale proceeds. Timing and any planned transactions are not stated in the excerpt; subsequent filings would show changes.
Key Figures
Beneficial ownership:6,028,929 sharesPercent of class:5.75%Sole voting power:5,891,220 shares+3 more
6 metrics
Beneficial ownership6,028,929 sharesAmount beneficially owned reported in Item 4
Percent of class5.75%Percent of Common Stock reported in Item 4
Sole voting power5,891,220 sharesSole power to vote listed for Donald Smith & Co., Inc.
Sole dispositive power5,973,190 sharesSole power to dispose listed for Donald Smith & Co., Inc.
DSCO Value Fund holdings55,739 sharesAmount listed for DSCO Value Fund, L.P.
Filing signature date05/13/2026Signature date for Richard L. Greenberg
Key Terms
Schedule 13G, beneficially owned, sole dispositive power, investment advisor, +1 more
5 terms
Schedule 13Gregulatory
"Item 1. (a) Name of issuer: Algoma Steel Group Inc."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
sole dispositive powerregulatory
"SOLO POWER TO DISPOSE: Donald Smith & Co., Inc. 5,973,190"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
investment advisorfinancial
"Donald Smith & Co., Inc. serves as investment advisor"
An investment advisor is a person or firm that provides personalized guidance on buying, selling and managing investments and often oversees client portfolios for a fee. For investors this matters because the advisor shapes risk, costs and long-term returns, and is typically required by law to act in the client’s best interests — think of them as a financial coach or GPS that helps navigate choices and avoid costly detours.
CUSIPregulatory
"CUSIP Number(s): 015658107"
A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Algoma Steel Group Inc.
(Name of Issuer)
Common
(Title of Class of Securities)
015658107
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
015658107
1
Names of Reporting Persons
DONALD SMITH & CO., INC.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,891,220.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,973,190.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,028,929.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.8 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
015658107
1
Names of Reporting Persons
DSCO Value Fund, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
55,739.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
55,739.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
6,028,929.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.8 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Algoma Steel Group Inc.
(b)
Address of issuer's principal executive offices:
105 WEST STREET, SAULT STE. MARIE, ONTARIO, CANADA, P6A 7B4.
Item 2.
(a)
Name of person filing:
Donald Smith & Co., Inc.
(b)
Address or principal business office or, if none, residence:
152 West 57th Street, 29th Floor
New York, NY 10019
(c)
Citizenship:
A Delaware Corporation
(d)
Title of class of securities:
Common
(e)
CUSIP Number(s):
015658107
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
6,028,929
(b)
Percent of class:
5.75%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
SOLE POWER TO VOTE:
Donald Smith & Co., Inc. 5,891,220
DSCO Value Fund, L.P. 55,739
(ii) Shared power to vote or to direct the vote:
SEE ITEM 6
(iii) Sole power to dispose or to direct the disposition of:
SOLE POWER TO DISPOSE:
Donald Smith & Co., Inc. 5,973,190
DSCO Value Fund, L.P. 55,739
(iv) Shared power to dispose or to direct the disposition of:
SEE ITEM 6
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
1. Donald Smith & Co., Inc. does not serve as custodian of the assets of any of its clients; accordingly, in each instance only the client or the client?s custodian or trustee bank has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. The ultimate power to direct the receipt of dividends paid with respect to, and the proceeds from the sale of, such securities, is vested in the institutional clients which Donald Smith & Co., Inc. serves as investment advisor. Any and all discretionary authority which has been delegated to Donald Smith & Co., Inc. may be revoked in whole or in part at any time. To the knowledge of Donald Smith & Co., Inc., with respect to all securities reported in this schedule owned by advisory clients of Donald Smith & Co., Inc., not more than 5% of the class of such securities is owned by any one client. 2. With respect to the remaining securities owned, various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Common Stock of Algoma Steel Group Inc. No one person?s interest in the Common Stock of Algoma Steel Group Inc. is more than five percent of the total outstanding Common Stock.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
Donald Smith & Co., Inc. IA
DSCO Value Fund, L.P. PN
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
What stake does Donald Smith & Co., Inc. report in Algoma Steel (ASTL)?
Donald Smith & Co., Inc. reports beneficial ownership of 6,028,929 shares, equal to 5.75% of Algoma Steel Common Stock. The filing itemizes voting and dispositive powers for specific share counts and lists a related fund holding 55,739 shares.
Who holds voting and dispositive power for the reported shares?
The filing shows sole voting power of 5,891,220 shares and sole dispositive power of 5,973,190 shares attributed to Donald Smith & Co., Inc. DSCO Value Fund, L.P. holds 55,739 shares with sole voting and dispositive power as listed.
Does Donald Smith & Co., Inc. own the shares directly or as an advisor?
The filer states it serves as an investment advisor and that the institutional clients retain ultimate rights to dividends and sale proceeds. Discretionary authority may be revoked by clients, per the disclosed Item 6 statement in the filing.
What date and signature appear on the Schedule 13G filing?
The Schedule 13G is signed by Richard L. Greenberg, CEO and Co-CIO, with signature dates shown as 05/13/2026. The filing identifies the issuers principal executive office address in Sault Ste. Marie, Ontario.
