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 Empirical Finance,

13F Portfolio OverlapQ1 2026Empirical Finance, portfolio →

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Most similar hedge funds by 13F overlap

Empirical Finance, LLC is an institutional investor managing $2.1B across 483 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 Empirical Finance, are Militia, Militia Partners,, Sage Investment Counsel, with shared positions in $ET, $OMAB, $WES, $AX, $MPLX, $AMD. The full ranking of 25 similar funds is below.

#1Militia Capital Management LLCPassive

Some overlap · 6 shared positions

$ET $OMAB $WES $AX $MPLX $AMD

$443M

257 positions

#2Militia Capital Partners, LP

Some overlap · 5 shared positions

$ET $OMAB $WES $AX $MPLX

$526M

202 positions

#3Sage Investment Counsel LLCPassive

Some overlap · 4 shared positions

$ET $OMAB $PAC $BAC

$90M

127 positions

#4Henson-Edgewater Management, LLCPassive

Some overlap · 5 shared positions

$ET $MU $BAC $AMD $GE

$157M

66 positions

#5MILLER HOWARD INVESTMENTS INC /NYActive

Some overlap · 4 shared positions

$ET $WES $MPLX $BAC

$3.7B

138 positions

#6Adams Asset Advisors, LLCActive

Some overlap · 4 shared positions

$ET $WES $MPLX $BAC

$891M

88 positions

#7SL ADVISORS, LLCActive

Some overlap · 4 shared positions

$ET $WES $MPLX $KO

$59M

32 positions

#8Pinnacle Holdings, LLCPassive

Some overlap · 4 shared positions

$ET $WES $MPLX $BAC

$309M

233 positions

#9Plato Investment Management LtdPassive

Some overlap · 6 shared positions

$MU $BAC $AMD $GE $MS $KO

$1.5B

516 positions

#10BASSO CAPITAL MANAGEMENT, L.P.Active

Some overlap · 4 shared positions

$ET $WES $MPLX $MS

$163M

137 positions

#11STATE STREET CORPPassive

Some overlap · 6 shared positions

$MU $MS $AMD $BAC $GE $KO

$2.9T

4,269 positions

#12ALPS ADVISORS INCActive

Some overlap · 4 shared positions

$ET $WES $MPLX $MS

$21.3B

1,037 positions

#13DCF Advisers, LLCActive

Some overlap · 4 shared positions

$ET $MU $BAC $AMD

$375M

86 positions

#14Empire Financial Management Company, LLCPassive

Some overlap · 4 shared positions

$ET $MPLX $BAC $AMD

$442M

211 positions

#15Northside Capital Management, LLCActive

Slight overlap · 4 shared positions

$ET $MPLX $BAC $KO

$1.1B

193 positions

#16ALBERT D MASON INCPassive

Slight overlap · 3 shared positions

$ET $PAC $WES

$154M

129 positions

#17Directional Asset ManagementPassive

Slight overlap · 4 shared positions

$ET $BAC $MS $KO

$109M

90 positions

#18Chicago Partners Investment Group LLCPassive

Slight overlap · 4 shared positions

$ET $MPLX $AMD $MU

$4.5B

1,489 positions

#19Fractal Investments LLCActive

Slight overlap · 3 shared positions

$ET $WES $MPLX

$845M

81 positions

#20TORTOISE CAPITAL ADVISORS, L.L.C.Active

Slight overlap · 3 shared positions

$ET $WES $MPLX

$9.6B

90 positions

#21Blackstone Inc.Active

Slight overlap · 3 shared positions

$ET $WES $MPLX

$25.6B

417 positions

#22ELCO Management Co., LLCPassive

Slight overlap · 3 shared positions

$ET $WES $MPLX

$208M

170 positions

#23INFRASTRUCTURE CAPITAL ADVISORS, LLCActive

Slight overlap · 3 shared positions

$ET $WES $MPLX

$1.4B

149 positions

#24KAYNE ANDERSON CAPITAL ADVISORS LPActive

Slight overlap · 3 shared positions

$ET $WES $MPLX

$5.2B

48 positions

#25LONGFELLOW INVESTMENT MANAGEMENT CO LLCPassive

Slight overlap · 3 shared positions

$ET $WES $MPLX

$480M

243 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.