What hedge funds are most similar to First Trust Capital Management L.P.?

The funds with the most similar 13F portfolios to First Trust Capital Management L.P. are WATER ISLAND, HARVEST, Slotnik, based on overlapping conviction holdings in the latest SEC filings.

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 First

13F Portfolio OverlapQ2 2026First portfolio →

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Most similar hedge funds by 13F overlap

First Trust Capital Management L.P. is an institutional investor managing $1.7B across 161 U.S. equity positions as of Q2 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to First are WATER ISLAND, HARVEST, Slotnik, with shared positions in $TMHC, $GTLS, $JHG, $WBS, $NSA, $EA. The full ranking of 25 similar funds is below.

#1WATER ISLAND CAPITAL LLCActive

Substantial overlap · 15 shared positions

$TMHC $GTLS $JHG $WBS $NSA $EA

$1.1B

85 positions

#2HARVEST MANAGEMENT LLCActive

Substantial overlap · 12 shared positions

$TMHC $NUVL $GTLS $APGE $JHG $EA

$254M

64 positions

#3Slotnik Capital, LLCActive

Substantial overlap · 5 shared positions

$TMHC $GTLS $NUVL $APGE $WBS

$387M

28 positions

#4NEXPOINT ASSET MANAGEMENT, L.P.Active

Substantial overlap · 12 shared positions

$NUVL $TMHC $JHG $SILA $EA $GTLS

$1.5B

70 positions

#5GLAZER CAPITAL, LLCPassive

Substantial overlap · 16 shared positions

$NUVL $APGE $JHG $BLD $GTLS $WBS

$4.1B

562 positions

#6Chicago Capital Management, LLCActive

Substantial overlap · 6 shared positions

$GTLS $TMHC $NUVL $APGE $CPRX $EA

$112M

27 positions

#7Kryger Capital LLCActive

Substantial overlap · 11 shared positions

$GTLS $APGE $EA $NUVL $DBRG $CZR

$1.8B

109 positions

#8TIG Advisors, LLCActive

Substantial overlap · 11 shared positions

$JHG $GTLS $EA $BLD $APGE $WBS

$2.3B

109 positions

#9HBK INVESTMENTS L PActive

Substantial overlap · 7 shared positions

$NUVL $APGE $GTLS $EA $JHG $BLD

$10.2B

276 positions

#10ALPINE ASSOCIATES MANAGEMENT INC.Active

Substantial overlap · 11 shared positions

$GTLS $WBS $EA $BLD $JHG $DBRG

$1.6B

66 positions

#11GABELLI & Co INVESTMENT ADVISERS, INC.Passive

Substantial overlap · 13 shared positions

$GTLS $EA $JHG $WBS $APGE $NUVL

$688M

316 positions

#12Westchester Capital Management, LLCPassive

Substantial overlap · 13 shared positions

$GTLS $WBS $EA $DBRG $BLD $CZR

$2.0B

310 positions

#13Beryl Capital Management LLCActive

Notable overlap · 5 shared positions

$APGE $SILA $JHG $TMHC $AVNS

$111M

7 positions

#14Transmarket Holdings LPActive

Notable overlap · 6 shared positions

$NUVL $SILA $APGE $WBS $WSR $AVNS

$136M

33 positions

#15SYQUANT CAPITAL SASActive

Notable overlap · 4 shared positions

$GTLS $EA $DBRG $CEPF

$447M

38 positions

#16Sand Grove Capital Management LLPActive

Notable overlap · 4 shared positions

$NUVL $WBS $EA $AVNS

$383M

14 positions

#17Yakira Capital Management, Inc.Passive

Notable overlap · 6 shared positions

$GTLS $EA $JHG $BLD $WBS $AVB

$351M

202 positions

#18Birnam Oak Advisors, LPActive

Notable overlap · 4 shared positions

$GTLS $BLD $EA $CZR

$616M

40 positions

#19O'Connor Alternative Investments LLCActive

Notable overlap · 5 shared positions

$GTLS $BLD $CEPV $ANSC $CCAQ

$1.4B

156 positions

#20GARDNER LEWIS ASSET MANAGEMENT L PPassive

Notable overlap · 6 shared positions

$GTLS $JHG $NUVL $APGE $DBRG $CZR

$449M

75 positions

#21AQR Arbitrage LLCPassive

Notable overlap · 8 shared positions

$EA $WBS $GTLS $JHG $NUVL $DBRG

$7.0B

634 positions

#22CREDIT INDUSTRIEL ET COMMERCIALPassive

Notable overlap · 10 shared positions

$JHG $WBS $BLD $APGE $SILA $GTLS

$1.6B

338 positions

#23Twin Securities, Inc.Active

Notable overlap · 3 shared positions

$APGE $EA $BLD

$223M

13 positions

#24Athos Capital LtdActive

Notable overlap · 5 shared positions

$WBS $JHG $AVNS $CPRX $CZR

$282M

38 positions

#25Melqart Asset Management (UK) LtdActive

Notable overlap · 5 shared positions

$GTLS $EA $APGE $CZR $CPRX

$1.1B

40 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.