How is hedge fund similarity measured?

Similarity is computed from each fund's top conviction holdings in their latest 13F filing. Funds are scored by the overlap of distinctive shared positions (the mega-caps that nearly every fund owns are excluded), so the ranking reflects genuinely shared strategy rather than common index exposure.

Hedge Funds Similar to ROYAL BANK OF CANADA

13F Portfolio OverlapQ1 2026ROYAL BANK OF CANADA portfolio →

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Most similar hedge funds by 13F overlap

ROYAL BANK OF CANADA is an institutional investor managing $570.1B across 7,430 U.S. equity positions as of Q1 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to ROYAL BANK OF CANADA are MUFG SECURITIES (CANADA), LTD., SCOTIA, CIBC WORLD MARKET, with shared positions in $RY, $TD, $BMO, $CM, $CNQ, $TRP. The full ranking of 25 similar funds is below.

#1MUFG SECURITIES (CANADA), LTD.Active

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$3.5B

43 positions

#2SCOTIA CAPITAL INC.Active

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$24.3B

916 positions

#3CIBC WORLD MARKET INC.Passive

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$61.3B

1,463 positions

#4TD ASSET MANAGEMENT INCPassive

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $CNQ $ENB

$123.2B

1,230 positions

#5TD Waterhouse Canada Inc.Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$33.7B

2,307 positions

#6CIBC Asset Management IncActive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$40.9B

1,372 positions

#7Addenda Capital Inc.Active

Notable overlap · 15 shared positions

$RY $TD $BMO $CNQ $CM $TRP

$3.6B

129 positions

#8Federation des caisses Desjardins du QuebecPassive

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $TRP $ENB

$27.8B

2,964 positions

#9BANK OF MONTREAL /CAN/Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$268.5B

3,733 positions

#10BANK OF NOVA SCOTIA TRUST COActive

Notable overlap · 15 shared positions

$RY $TD $BMO $CNQ $TRP $ENB

$1.2B

161 positions

#11MACKENZIE FINANCIAL CORPPassive

Notable overlap · 15 shared positions

$RY $TD $BMO $CNQ $CM $ENB

$83.3B

1,420 positions

#121832 Asset Management L.P.Active

Notable overlap · 15 shared positions

$RY $TD $BMO $CNQ $TRP $ENB

$108.8B

647 positions

#13GUARDIAN CAPITAL LPActive

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $CNQ $ENB

$3.8B

177 positions

#14NATIONAL BANK OF CANADA /FI/Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $ENB $BNS

$111.5B

2,933 positions

#15PCJ Investment Counsel Ltd.Passive

Notable overlap · 13 shared positions

$RY $TD $BMO $CM $CNQ $ENB

$352M

59 positions

#16INTACT INVESTMENT MANAGEMENT INC.Passive

Notable overlap · 14 shared positions

$RY $TD $BMO $CNQ $ENB $CM

$3.5B

269 positions

#17TORONTO DOMINION BANKPassive

Notable overlap · 15 shared positions

$RY $BMO $CM $CNQ $TRP $ENB

$69.7B

2,092 positions

#18Guardian Partners Inc.Active

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $CNQ $ENB

$1.2B

192 positions

#19Alberta Investment Management CorpActive

Notable overlap · 14 shared positions

$RY $TD $CM $CNQ $TRP $BNS

$16.7B

580 positions

#20Connor, Clark & Lunn Investment Management Ltd.Passive

Notable overlap · 14 shared positions

$RY $TD $CM $TRP $ENB $BNS

$43.4B

1,526 positions

#21Lorne Steinberg Wealth Management Inc.Passive

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$422M

68 positions

#22Gold Investment Management Ltd.Passive

Notable overlap · 12 shared positions

$RY $TD $CM $CNQ $ENB $BNS

$323M

201 positions

#23Purpose Unlimited Inc.Active

Notable overlap · 12 shared positions

$RY $TD $BMO $CNQ $CM $ENB

$2.4B

577 positions

#24Hillsdale Investment Management Inc.Passive

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $ENB $CNQ

$3.7B

655 positions

#25BRITISH COLUMBIA INVESTMENT MANAGEMENT CorpActive

Notable overlap · 14 shared positions

$RY $TD $CNQ $TRP $ENB $CM

$17.0B

692 positions

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Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.