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 Waratah Advisors Ltd.

13F Portfolio OverlapQ1 2026Waratah Advisors Ltd. portfolio →

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Most similar hedge funds by 13F overlap

Waratah Capital Advisors Ltd. is an institutional investor managing $2.6B across 127 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 Waratah Advisors Ltd. are PCJ Investment Counsel Ltd., Addenda, Scheer, Rowlett & Associates Investment Ltd., with shared positions in $BGSI, $CVE, $IAG, $CAE, $CNI, $TD. The full ranking of 25 similar funds is below.

#1PCJ Investment Counsel Ltd.Passive

Substantial overlap · 13 shared positions

$BGSI $CVE $IAG $CAE $CNI $TD

$352M

59 positions

#2Addenda Capital Inc.Active

Notable overlap · 9 shared positions

$AGI $AEM $SU $CNI $TD $KGC

$3.6B

129 positions

#3Scheer, Rowlett & Associates Investment Management Ltd.Active

Notable overlap · 9 shared positions

$SU $CVE $CNI $AGI $TD $FNV

$1.4B

33 positions

#4INTACT INVESTMENT MANAGEMENT INC.Passive

Notable overlap · 9 shared positions

$SU $CVE $CNI $TD $KGC $RY

$3.5B

269 positions

#5MUFG SECURITIES (CANADA), LTD.Active

Notable overlap · 8 shared positions

$SU $CNI $AEM $TD $KGC $CVE

$3.5B

43 positions

#6Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.Active

Notable overlap · 6 shared positions

$AGI $KGC $CGAU $AEM $FNV $COP

$56M

38 positions

#7Ninepoint Partners LP

Notable overlap · 10 shared positions

$CVE $KGC $CNI $AEM $AGI $RY

$904M

161 positions

#8HATCH COVE CAPITAL, LLCActive

Notable overlap · 5 shared positions

$AGI $CGAU $AEM $FNV $COP

$262M

19 positions

#9SPROTT INC.Active

Notable overlap · 7 shared positions

$IAG $AEM $KGC $SII $AGI $FNV

$3.4B

243 positions

#10Caldwell Investment Management Ltd.Active

Notable overlap · 10 shared positions

$CVE $AEM $KGC $SII $RY $FIX

$255M

57 positions

#11Merewether Investment Management, LPActive

Notable overlap · 7 shared positions

$SU $CVE $NVT $LNG $IAG $COP

$5.2B

79 positions

#12PICTON MAHONEY ASSET MANAGEMENTPassive

Notable overlap · 9 shared positions

$AEM $SU $TD $CVE $FNV $RY

$13.5B

1,238 positions

#13BAROMETER CAPITAL MANAGEMENT INC.Passive

Notable overlap · 4 shared positions

$AGI $SU $AEM $KGC

$292M

114 positions

#14Knoll Capital Management, LLCActive

Notable overlap · 5 shared positions

$KGC $CGAU $AEM $FNV $AGI

$180M

37 positions

#15GUARDIAN CAPITAL LPActive

Notable overlap · 6 shared positions

$SU $AEM $BGSI $TD $RY $CNI

$3.8B

177 positions

#16FIL LtdPassive

Notable overlap · 9 shared positions

$AEM $TD $SU $CNI $RY $FNV

$128.7B

1,105 positions

#17Hillsdale Investment Management Inc.Passive

Notable overlap · 8 shared positions

$AEM $TD $CGAU $SU $KGC $RY

$3.7B

655 positions

#18Triasima Portfolio Management inc.Passive

Notable overlap · 8 shared positions

$KGC $TD $CVE $WELL $RY $AGI

$661M

137 positions

#19Rempart Asset Management Inc.Active

Notable overlap · 6 shared positions

$SU $CNI $NVT $BEPC $RY $TD

$475M

36 positions

#20Extract Advisors LLCActive

Notable overlap · 4 shared positions

$CGAU $IAG $AEM $NXE

$287M

32 positions

#21CIBC Asset Management IncActive

Notable overlap · 8 shared positions

$AEM $SU $TD $RY $CVE $KGC

$40.9B

1,372 positions

#22LOUISBOURG INVESTMENTS INC.Passive

Notable overlap · 8 shared positions

$CNI $FNV $BGSI $KGC $IAG $CVE

$529M

216 positions

#23Accordant Advisory Group IncPassive

Notable overlap · 5 shared positions

$AGI $CGAU $AEM $NXE $SII

$161M

238 positions

#24TD Waterhouse Canada Inc.Passive

Notable overlap · 7 shared positions

$AEM $SU $TD $CNI $RY $CVE

$33.7B

2,307 positions

#25Tacita Capital IncPassive

Notable overlap · 8 shared positions

$TD $CNI $BEPC $FNV $RY $KGC

$169M

238 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.