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 Addenda

13F Portfolio OverlapQ1 2026Addenda portfolio →

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Most similar hedge funds by 13F overlap

Addenda Capital Inc. is an institutional investor managing $3.7B across 128 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 Addenda are MUFG SECURITIES (CANADA), LTD., BANK OF NOVA SCOTIA, CIBC WORLD MARKET, with shared positions in $TD, $RY, $AEM, $BMO, $CNQ, $BN. The full ranking of 25 similar funds is below.

#1MUFG SECURITIES (CANADA), LTD.Active

Highly similar · 25 shared positions

$TD $RY $AEM $BMO $CNQ $BN

$3.5B

43 positions

#2BANK OF NOVA SCOTIA TRUST COActive

Substantial overlap · 18 shared positions

$TD $RY $BMO $CNQ $ENB $BN

$1.2B

161 positions

#3CIBC WORLD MARKET INC.Passive

Substantial overlap · 20 shared positions

$TD $RY $CNQ $BMO $BNS $ENB

$61.3B

1,463 positions

#4Scheer, Rowlett & Associates Investment Management Ltd.Active

Substantial overlap · 17 shared positions

$TD $RY $BMO $BN $CNQ $AGI

$1.4B

33 positions

#5GUARDIAN CAPITAL LPActive

Substantial overlap · 16 shared positions

$RY $AEM $CNQ $TD $BN $BMO

$3.8B

177 positions

#6TD Waterhouse Canada Inc.Passive

Substantial overlap · 17 shared positions

$TD $RY $ENB $BMO $AEM $CNQ

$33.7B

2,307 positions

#7SCOTIA CAPITAL INC.Active

Substantial overlap · 18 shared positions

$RY $TD $ENB $BNS $TRP $BMO

$24.3B

916 positions

#8CIBC Asset Management IncActive

Substantial overlap · 22 shared positions

$RY $TD $BMO $AEM $ENB $CNQ

$40.9B

1,372 positions

#9Guardian Partners Inc.Active

Substantial overlap · 14 shared positions

$TD $RY $BMO $ENB $BNS $CNQ

$1.2B

192 positions

#10Aviso Financial Inc.Active

Substantial overlap · 19 shared positions

$TD $BMO $CNQ $BN $ENB $CP

$2.8B

338 positions

#111832 Asset Management L.P.Active

Substantial overlap · 18 shared positions

$TD $RY $BN $ENB $TRP $CNI

$108.8B

647 positions

#12PICTON MAHONEY ASSET MANAGEMENTPassive

Substantial overlap · 16 shared positions

$RY $TD $CNQ $SHOP $AEM $CP

$13.5B

1,238 positions

#13Tacita Capital IncPassive

Substantial overlap · 17 shared positions

$RY $TD $BN $ENB $TRP $BNS

$169M

238 positions

#14Federation des caisses Desjardins du QuebecPassive

Substantial overlap · 19 shared positions

$RY $TD $BN $BMO $BNS $SU

$27.8B

2,964 positions

#15PCJ Investment Counsel Ltd.Passive

Substantial overlap · 18 shared positions

$RY $TD $SHOP $ENB $CNI $CNQ

$352M

59 positions

#16INTACT INVESTMENT MANAGEMENT INC.Passive

Substantial overlap · 21 shared positions

$RY $TD $SU $CNI $BMO $KGC

$3.5B

269 positions

#17Cardinal Capital Management, Inc.Active

Substantial overlap · 12 shared positions

$RY $BMO $BN $BNS $TRP $CP

$3.7B

66 positions

#18Connor, Clark & Lunn Investment Management Ltd.Passive

Substantial overlap · 18 shared positions

$RY $AEM $TD $ENB $SU $TRP

$43.4B

1,526 positions

#19Hillsdale Investment Management Inc.Passive

Substantial overlap · 18 shared positions

$RY $TD $BNS $AEM $BMO $ENB

$3.7B

655 positions

#20MACKENZIE FINANCIAL CORPPassive

Substantial overlap · 20 shared positions

$RY $TD $AEM $CNQ $CP $SHOP

$83.3B

1,420 positions

#21Burkett Asset Management LtdPassive

Substantial overlap · 11 shared positions

$RY $TD $CNQ $BN $BMO $FNV

$101M

61 positions

#22TD ASSET MANAGEMENT INCPassive

Substantial overlap · 18 shared positions

$RY $TD $BMO $ENB $AEM $CNQ

$123.2B

1,230 positions

#23Triasima Portfolio Management inc.Passive

Substantial overlap · 14 shared positions

$RY $TD $BMO $SHOP $CCJ $KGC

$661M

137 positions

#24Jones Collombin Investment Counsel IncPassive

Substantial overlap · 12 shared positions

$RY $AEM $ENB $BMO $TD $SHOP

$326M

113 positions

#25Lorne Steinberg Wealth Management Inc.Passive

Substantial overlap · 11 shared positions

$RY $TD $BMO $TRP $CP $BNS

$422M

68 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.