Donald Smith & affiliates report a passive >5% stake in EQX

Rhea-AI Filing Summary

Donald Smith & Co., Inc. and affiliated funds report beneficial ownership of 26,507,615 shares of Equinox Gold Corp. common stock, representing 5.81% of the class. The filing breaks out sole voting and dispositive power by reporting person: Donald Smith & Co., Inc. reports sole voting power of 25,576,937 and sole dispositive power of 25,956,707; DSCO Value Fund, L.P. 209,495; Donald Smith Value Fund, L.P. 305,516; Jon Hartsel 19,417; Kamal Shah 16,480.

The statement is filed on a Schedule 13G and includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control. The filing also clarifies that Donald Smith & Co., Inc. acts as investment adviser to institutional clients and that no single advisory client, to the firm’s knowledge, owns more than 5% of the class.

Positive

• Aggregate disclosure of 26,507,615 shares (5.81%) of Equinox Gold provides clear, material ownership information
• Item 10 certification states holdings were acquired and are held in the ordinary course and not to influence control

Negative

• None.

Insights

Financial Analyst

TL;DR: A notable institutional stake of 26.5M shares (5.81%) is disclosed, reported as passive and held in the ordinary course.

The Schedule 13G shows an aggregate beneficial ownership of 26,507,615 shares (5.81%) in Equinox Gold (EQX). The filing itemizes sole voting and dispositive powers largely concentrated with Donald Smith & Co., Inc. (25,576,937 voting; 25,956,707 dispositive). As a Schedule 13G, the submission represents passive holdings rather than an intent to influence control, reinforced by Item 10's certification. For investors, the filing documents a meaningful institutional position while explicitly disclaiming activist intent; no financial performance metrics or transaction terms are included in this statement.

Corporate Governance Expert

TL;DR: Disclosure exceeds the 5% threshold and indicates no plan to change control; governance implications are limited by the passive designation.

The report identifies multiple reporting persons and affiliated funds and references an exhibit for group identification. It documents the distribution of voting and dispositive authority across the adviser and funds and includes a certification that the securities were not acquired to change or influence control. From a governance perspective, the Schedule 13G filing signals transparency about a >5% stake but does not, on its face, raise control or activist governance concerns because the filer attests to passive ownership and ordinary-course investment advisory relationships.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Equinox Gold Corp.

(Name of Issuer)

Common

(Title of Class of Securities)

29446Y502

(CUSIP Number)

06/30/2025

(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)

SCHEDULE 13G

CUSIP No. 29446Y502

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 25,576,937.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 25,956,707.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,507,615.00

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 No. 29446Y502

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 209,495.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 209,495.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,507,615.00

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

CUSIP No. 29446Y502

1

Names of Reporting Persons

Donald Smith 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 305,516.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 305,516.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,507,615.00

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

CUSIP No. 29446Y502

1

Names of Reporting Persons

Jon Hartsel

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 19,417.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 19,417.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,507,615.00

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)

IN

SCHEDULE 13G

CUSIP No. 29446Y502

1

Names of Reporting Persons

Kamal Shah

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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 16,480.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 16,480.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

26,507,615.00

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)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Equinox Gold Corp.
(b)	Address of issuer's principal executive offices: 700 WEST PENDER ST., SUITE 1501, VANCOUVER, BRITISH COLUMBIA, CANADA, V6C 1G8.
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 No.: 29446Y502
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: 26,507,615
(b)	Percent of class: 5.81%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Donald Smith & Co., Inc. 25,576,937 DSCO Value Fund, L.P. 209,495 Donald Smith Value Fund 305,516 Jon Hartsel 19,417 Kamal Shah 16,480
	(ii) Shared power to vote or to direct the vote: SEE ITEM 6
	(iii) Sole power to dispose or to direct the disposition of: Donald Smith & Co., Inc. 25,956,707 DSCO Value Fund, L.P. 209,495 Donald Smith Value Fund 305,516 Jon Hartsel 19,417 Kamal Shah 16,480
	(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.
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. 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 Equinox Gold Corp. No one person?s interest in the Common Stock of Equinox Gold Corp. 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. SEE EXHIBIT A
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.

DONALD SMITH & CO., INC.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/13/2025

DSCO Value Fund, L.P.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/13/2025

Donald Smith Value Fund, L.P.

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/13/2025

Jon Hartsel

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/13/2025

Kamal Shah

Signature:	Richard L. Greenberg
Name/Title:	CEO and Co-CIO
Date:	08/13/2025

FAQ

How many Equinox Gold (EQX) shares are reported by Donald Smith & affiliates?

26,507,615 shares of common stock are reported as beneficially owned.

What percentage of EQX does this filing represent?

5.81% of the outstanding class of common stock is reported.

What voting and dispositive power is disclosed in the Schedule 13G?

Donald Smith & Co., Inc. reports sole voting power of 25,576,937 and sole dispositive power of 25,956,707; DSCO Value Fund, L.P. 209,495; Donald Smith Value Fund, L.P. 305,516; Jon Hartsel 19,417; Kamal Shah 16,480.

Is this a passive Schedule 13G or a control-seeking filing?

This is a Schedule 13G, and Item 10 certifies the securities were acquired and are held in the ordinary course and not for the purpose of changing or influencing control.

Who signed the filing on behalf of Donald Smith & Co., Inc. and affiliates?

Richard L. Greenberg, CEO and Co-CIO, signed the filing for Donald Smith & Co., Inc. and the affiliated reporting entities.