Donald Smith & Co., Inc. and affiliated fund DSCO Value Fund, L.P. report beneficial ownership of 13,140,744 shares of RLJ Lodging Trust common stock, representing about 8.8% of the class as of 12/31/2025.
Donald Smith & Co., a Delaware investment adviser, has sole voting power over 12,495,915 shares and sole dispositive power over 13,018,655 shares, while DSCO Value Fund has sole voting and dispositive power over 122,089 shares. The securities are held in the ordinary course of business, and the filer certifies they were not acquired to change or influence control of RLJ. Underlying institutional clients and other investors ultimately receive dividends and sale proceeds, with no single client or other person holding more than 5% of RLJ’s outstanding common stock.
Positive
None.
Negative
None.
Insights
Large passive holder reports an 8.8% stake in RLJ Lodging Trust.
Donald Smith & Co., Inc. and DSCO Value Fund, L.P. together report beneficial ownership of 13,140,744 RLJ Lodging Trust common shares, or about 8.8% of the company. Donald Smith & Co. holds most of the voting and dispositive power on behalf of advisory clients.
The filing states the position is held in the ordinary course of business and not for the purpose of changing or influencing control. Dividends and sale proceeds ultimately accrue to institutional clients and other underlying investors, each with less than 5% of RLJ’s outstanding stock.
This disclosure identifies a sizable passive institutional owner with meaningful voting and selling authority as of December 31, 2025, while emphasizing that no single client or other person crosses the 5% individual ownership threshold.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
RLJ Lodging Trust
(Name of Issuer)
Common
(Title of Class of Securities)
74965L101
(CUSIP Number)
12/31/2025
(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.
74965L101
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
12,495,915.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
13,018,655.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,140,744.00
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)
8.8 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
74965L101
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
122,089.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
122,089.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
13,140,744.00
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)
8.8 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
RLJ Lodging Trust
(b)
Address of issuer's principal executive offices:
7373 WISCONSIN AVE, SUITE 1500, BETHESDA, MARYLAND, 20814.
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.:
74965L101
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:
13,140,744
(b)
Percent of class:
8.81%
(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. 12,495,915
DSCO Value Fund, L.P. 122,089
(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. 13,018,655
DSCO Value Fund, L.P. 122,089
(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 RLJ Lodging Trust. No one person?s interest in the Common Stock of RLJ Lodging Trust 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.
FILED PURSUANT TO RULE 13d-1(b) or 13d-2(b)
RULE 13d-1(f)(1) EXHIBIT A:
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.
