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 Empyrean Partners,

13F Portfolio OverlapQ1 2026Empyrean Partners, portfolio →

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Most similar hedge funds by 13F overlap

Empyrean Capital Partners, LP is an institutional investor managing $3.1B across 124 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 Empyrean Partners, are P SCHOENFELD ASSET, HBK INVESTMENTS L P, GABELLI & INVESTMENT ADVISERS,, with shared positions in $NSC, $LBRDA, $WBD, $VISN, $VSAT, $EA. The full ranking of 25 similar funds is below.

#1P SCHOENFELD ASSET MANAGEMENT LPPassive

Notable overlap · 8 shared positions

$NSC $LBRDA $WBD $VISN $VSAT $EA

$184M

35 positions

#2HBK INVESTMENTS L PActive

Notable overlap · 9 shared positions

$NSC $TXNM $LBRDA $WBD $EA $KVUE

$9.9B

346 positions

#3GABELLI & Co INVESTMENT ADVISERS, INC.Passive

Notable overlap · 8 shared positions

$TXNM $LBRDA $WBD $NSC $EA $FOX

$674M

297 positions

#4Melqart Asset Management (UK) LtdActive

Notable overlap · 7 shared positions

$NSC $TXNM $WBD $AXTA $EA $KVUE

$1.0B

41 positions

#5Kintayl Capital LPPassive

Notable overlap · 7 shared positions

$NSC $LBRDA $WBD $TXNM $EA $KVUE

$192M

54 positions

#6WATER ISLAND CAPITAL LLCPassive

Notable overlap · 7 shared positions

$NSC $TXNM $WBD $EA $KVUE $PEN

$896M

98 positions

#7ALPINE ASSOCIATES MANAGEMENT INC.Passive

Notable overlap · 7 shared positions

$NSC $WBD $TXNM $EA $LBRDA $KVUE

$1.7B

70 positions

#8Fort Baker Capital Management LPPassive

Notable overlap · 6 shared positions

$NSC $LBRDA $WBD $EA $BCSS $CCIX

$1.3B

121 positions

#9NINE MASTS CAPITAL LtdActive

Notable overlap · 7 shared positions

$NSC $WBD $EA $TXNM $FOX $KVUE

$693M

249 positions

#10READYSTATE ASSET MANAGEMENT LPPassive

Notable overlap · 7 shared positions

$NSC $WBD $TXNM $EA $LBRDA $KVUE

$2.2B

806 positions

#11Governors Lane LPPassive

Notable overlap · 5 shared positions

$NSC $TXNM $WBD $EA $COF

$1.6B

190 positions

#12Sand Grove Capital Management LLPActive

Notable overlap · 5 shared positions

$NSC $TXNM $WBD $EA $PEN

$444M

19 positions

#13TIG Advisors, LLCActive

Notable overlap · 7 shared positions

$NSC $WBD $EA $KVUE $MCW $PEN

$2.2B

107 positions

#14AQR Arbitrage LLCPassive

Notable overlap · 7 shared positions

$NSC $WBD $TXNM $EA $LBRDA $KVUE

$6.1B

556 positions

#15Cherokee Insurance CoPassive

Notable overlap · 6 shared positions

$MPC $UNP $NSC $PSX $BTI $SHEL

$263M

121 positions

#16Boussard & Gavaudan Investment Management LLPActive

Notable overlap · 8 shared positions

$NSC $WBD $EA $ANIP $WAT $PEN

$1.1B

89 positions

#17Pentwater Capital Management LPActive

Notable overlap · 6 shared positions

$NSC $WBD $EA $TXNM $KVUE $LBRDA

$19.3B

92 positions

#18Marble Bar Asset Management LLPActive

Notable overlap · 5 shared positions

$NSC $WBD $VISN $EA $KVUE

$102M

30 positions

#19Birnam Oak Advisors, LPActive

Notable overlap · 6 shared positions

$NSC $WBD $TXNM $KVUE $PEN $COF

$441M

35 positions

#20CAXTON ASSOCIATES LLPActive

Notable overlap · 8 shared positions

$WBD $NSC $EA $KVUE $PEN $TXNM

$4.4B

755 positions

#21Ativo Capital Management LLCPassive

Notable overlap · 3 shared positions

$AER $BTI $B

$115M

55 positions

#22Kryger Capital LLCActive

Notable overlap · 5 shared positions

$NSC $WBD $EA $KVUE $PEN

$1.4B

76 positions

#23Verition Fund Management LLCPassive

Notable overlap · 7 shared positions

$WBD $NSC $EA $TXNM $KVUE $LBRDA

$15.4B

2,192 positions

#24CIBRA Capital LtdActive

Notable overlap · 5 shared positions

$TXNM $WBD $EA $MCW $PEN

$207M

25 positions

#25Yakira Capital Management, Inc.Passive

Notable overlap · 6 shared positions

$NSC $LBRDA $EA $PPLI $KVUE $WBD

$342M

196 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.