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 MMCAP International SPC

13F Portfolio OverlapQ1 2026MMCAP International SPC portfolio →

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Most similar hedge funds by 13F overlap

MMCAP International Inc. SPC is an institutional investor managing $1.2B across 244 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 MMCAP International SPC are Wealthspring, HGC Investment, L1 Global Manager Pty Ltd, with shared positions in $NPAC, $RDAG, $LPAA, $IRHO, $IPCX, $GPAT. The full ranking of 25 similar funds is below.

#1Wealthspring Capital LLCPassive

Substantial overlap · 15 shared positions

$NPAC $RDAG $LPAA $IRHO $IPCX $GPAT

$421M

195 positions

#2HGC Investment Management Inc.Passive

Notable overlap · 13 shared positions

$DMII $FERA $RDAG $CEPF $IRHO $NPAC

$451M

170 positions

#3L1 Global Manager Pty LtdPassive

Notable overlap · 10 shared positions

$FAC $GPAT $ALF $RDAG $DMII $IRHO

$149M

116 positions

#4Governors Lane LPPassive

Notable overlap · 8 shared positions

$FERA $RDAG $NPAC $CEPF $CEPV $WENN

$1.6B

190 positions

#5METEORA CAPITAL, LLCPassive

Notable overlap · 8 shared positions

$RDAG $FAC $WENN $CEPF $MBVI $CEPV

$1.4B

384 positions

#6Lineage Point Capital LPPassive

Notable overlap · 6 shared positions

$CCXI $DMII $WENN $FCRS $BLZR $LPCV

$409M

271 positions

#7GRITSTONE ASSET MANAGEMENT LLCPassive

Notable overlap · 7 shared positions

$RDAG $FAC $ALF $WENN $CUB $LPCV

$94M

154 positions

#8First Trust Capital Management L.P.Passive

Some overlap · 8 shared positions

$ALF $GPAT $LPAA $CUB $SIMA $GRAF

$1.9B

182 positions

#9Crossingbridge Advisors, LLCPassive

Some overlap · 6 shared positions

$RDAG $IPCX $WENN $LPAA $SBXD $DMII

$553M

156 positions

#10HEIGHTS CAPITAL MANAGEMENT, INCPassive

Some overlap · 5 shared positions

$DMII $IRHO $GPAT $FERA $RDAG

$359M

265 positions

#11BERKLEY W R CORPActive

Some overlap · 8 shared positions

$IPCX $HYAC-WT $SBXD $LPAA $ALF $CUB

$1.9B

345 positions

#12RLH Capital LLCPassive

Some overlap · 6 shared positions

$NPAC $IPCX $SBXD $LPAA $CEPV $SIMA

$197M

108 positions

#13Radcliffe Capital Management, L.P.Passive

Some overlap · 9 shared positions

$WENN $HCMA $NPAC $GPAT $BLZR $MBVI

$1.3B

405 positions

#14Harraden Circle Investments, LLCPassive

Some overlap · 7 shared positions

$CEPF $CEPV $HYAC-WT $FCRS $RDAG $XNDU

$499M

180 positions

#15Lloyd Harbor Capital Management, LLCActive

Some overlap · 3 shared positions

$NXE $DNN $WY

$245M

26 positions

#16Mercuria Capital Strategies, LLCActive

Some overlap · 3 shared positions

$DMII $IPCX $CEPF

$262M

31 positions

#17HIGHBRIDGE CAPITAL MANAGEMENT LLCActive

Some overlap · 4 shared positions

$FAC $MBVI $GRAF $HCMA

$3.1B

378 positions

#18JPMORGAN CHASE & COActive

Some overlap · 4 shared positions

$FAC $MBVI $GRAF $HCMA

$3.1B

378 positions

#19RiverPark Advisors, LLCPassive

Some overlap · 3 shared positions

$LPAA $IPCX $SBXD

$276M

150 positions

#20GeoSphere Capital Management, LLCActive

Some overlap · 3 shared positions

$ARIS $NXE $DNN

$229M

42 positions

#21PCJ Investment Counsel Ltd.Passive

Some overlap · 3 shared positions

$ARIS $NXE $DNN

$352M

59 positions

#22PERISCOPE CAPITAL INC.Passive

Some overlap · 3 shared positions

$MBVI $HCMA $BLZR

$902M

429 positions

#23Covalis Capital LLPPassive

Slight overlap · 3 shared positions

$APTV $GM $STLD

$1.6B

123 positions

#24Karpus Management, Inc.Passive

Slight overlap · 3 shared positions

$DMII $GPAT $SIMA

$3.2B

231 positions

#25BlueCrest Capital Management LtdPassive

Slight overlap · 3 shared positions

$FCRS $DMII $CCXI

$1.7B

231 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.