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 PRELUDE ,

13F Portfolio OverlapQ1 2026PRELUDE , portfolio →

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Most similar hedge funds by 13F overlap

PRELUDE CAPITAL MANAGEMENT, LLC is an institutional investor managing $1.3B across 1,176 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 PRELUDE , are ALPINE ASSOCIATES, CREDIT INDUSTRIEL ET COMMERCIAL, AQR Arbitrage, with shared positions in $BHF, $PEN, $CWAN, $NSC, $WBD, $GTLS. The full ranking of 25 similar funds is below.

#1ALPINE ASSOCIATES MANAGEMENT INC.Passive

Notable overlap · 17 shared positions

$BHF $PEN $CWAN $NSC $WBD $GTLS

$1.7B

70 positions

#2CREDIT INDUSTRIEL ET COMMERCIALPassive

Notable overlap · 15 shared positions

$BHF $PEN $CWAN $WBD $GTLS $TXNM

$1.3B

349 positions

#3AQR Arbitrage LLCPassive

Notable overlap · 15 shared positions

$PEN $CWAN $NSC $WBD $BHF $GTLS

$6.1B

556 positions

#4GABELLI & Co INVESTMENT ADVISERS, INC.Passive

Notable overlap · 14 shared positions

$PEN $CWAN $NSC $WBD $GTLS $TXNM

$674M

297 positions

#5HBK INVESTMENTS L PActive

Notable overlap · 13 shared positions

$PEN $CWAN $NSC $WBD $GTLS $TXNM

$9.9B

346 positions

#6Kintayl Capital LPPassive

Notable overlap · 14 shared positions

$CWAN $NSC $WBD $BHF $TXNM $ACLX

$192M

54 positions

#7TIG Advisors, LLCActive

Notable overlap · 13 shared positions

$CWAN $NSC $WBD $PEN $GTLS $ACLX

$2.2B

107 positions

#8Yakira Capital Management, Inc.Passive

Notable overlap · 13 shared positions

$CWAN $NSC $BHF $WBD $GTLS $ACLX

$342M

196 positions

#9WATER ISLAND CAPITAL LLCPassive

Notable overlap · 14 shared positions

$PEN $NSC $WBD $GTLS $TXNM $ACLX

$896M

98 positions

#10Kryger Capital LLCActive

Notable overlap · 12 shared positions

$BHF $PEN $CWAN $NSC $WBD $GTLS

$1.4B

76 positions

#11NEXPOINT ASSET MANAGEMENT, L.P.Active

Notable overlap · 11 shared positions

$BHF $CWAN $WBD $GTLS $TXNM $ACLX

$1.5B

83 positions

#12NINE MASTS CAPITAL LtdActive

Notable overlap · 11 shared positions

$PEN $CWAN $NSC $WBD $TXNM $HOLX

$693M

249 positions

#13CIBRA Capital LtdActive

Notable overlap · 11 shared positions

$PEN $CWAN $WBD $TXNM $ACLX $HOLX

$207M

25 positions

#14Melqart Asset Management (UK) LtdActive

Notable overlap · 10 shared positions

$PEN $CWAN $NSC $WBD $GTLS $TXNM

$1.0B

41 positions

#15Pentwater Capital Management LPActive

Notable overlap · 11 shared positions

$CWAN $NSC $WBD $TXNM $ACLX $HOLX

$19.3B

92 positions

#16CAXTON ASSOCIATES LLPActive

Notable overlap · 10 shared positions

$PEN $NSC $WBD $CWAN $GTLS $TXNM

$4.4B

755 positions

#17KRYGER CAPITAL Ltd

Notable overlap · 10 shared positions

$BHF $CWAN $NSC $WBD $GTLS $HOLX

$1.3B

50 positions

#18Magnetar Financial LLCActive

Notable overlap · 13 shared positions

$GTLS $PEN $TXNM $WBD $NSC $FOLD

$9.8B

1,130 positions

#19HARVEST MANAGEMENT LLCActive

Notable overlap · 10 shared positions

$PEN $CWAN $NSC $WBD $ACLX $HOLX

$206M

55 positions

#20Westchester Capital Management, LLCPassive

Notable overlap · 10 shared positions

$PEN $CWAN $NSC $WBD $GTLS $HOLX

$2.2B

307 positions

#21Sand Grove Capital Management LLPActive

Some overlap · 9 shared positions

$PEN $CWAN $NSC $WBD $TXNM $WBS

$444M

19 positions

#22LMR Partners LLPActive

Some overlap · 9 shared positions

$MU $NSC $WBD $PEN $GTLS $AAUC

$45.4B

1,417 positions

#23PSquared Asset Management AGActive

Some overlap · 8 shared positions

$PEN $NSC $WBD $GTLS $ACLX $HOLX

$287M

15 positions

#24Birnam Oak Advisors, LPActive

Some overlap · 7 shared positions

$PEN $CWAN $NSC $WBD $GTLS $TXNM

$441M

35 positions

#25Slotnik Capital, LLCActive

Some overlap · 8 shared positions

$PEN $NSC $WBD $GTLS $ACLX $WBS

$342M

27 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.