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 Matisse

13F Portfolio OverlapQ2 2026Matisse portfolio →

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Most similar hedge funds by 13F overlap

Matisse Capital is an institutional investor managing $250M across 158 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 Matisse are Closed-End Fund Advisors, Thomas J. Herzfeld Advisors, CITY OF LONDON INVESTMENT LTD, with shared positions in $FSSL, $BPRE, $HFRO, $PNI, $DMA, $FSCO. The full ranking of 20 similar funds is below.

#1Closed-End Fund Advisors, Inc.Passive

Notable overlap · 11 shared positions

$FSSL $BPRE $HFRO $PNI $DMA $FSCO

$102M

163 positions

#2Thomas J. Herzfeld Advisors, Inc.Active

Notable overlap · 8 shared positions

$FSCO $FSSL $HFRO $TWN $BPRE $KF

$326M

129 positions

#3CITY OF LONDON INVESTMENT MANAGEMENT CO LTDActive

Notable overlap · 7 shared positions

$TWN $KF $TDF $MXE $MXF $CAF

$1.7B

80 positions

#4Atlas Wealth LLCPassive

Notable overlap · 10 shared positions

$STEW $CET $DMA $HFRO $RGT $WIW

$701M

178 positions

#51607 Capital Partners, LLCActive

Notable overlap · 7 shared positions

$STEW $TWN $CET $KF $CAF $EEA

$1.1B

141 positions

#6Bulldog Investors, LLPPassive

Some overlap · 5 shared positions

$STEW $CET $BPRE $XFLT $GLO

$455M

225 positions

#7North Ground CapitalActive

Some overlap · 8 shared positions

$FSSL $MXF $GLO $JFR $FSCO $JQC

$83M

33 positions

#8Almitas Capital LLCActive

Some overlap · 7 shared positions

$PCQ $FSSL $GLO $MXF $JFR $PNI

$417M

130 positions

#9Shaker Financial Services, LLCPassive

Some overlap · 5 shared positions

$STEW $TWN $HGLB $EEA $RGT

$319M

148 positions

#10Saba Capital Management, L.P.Passive

Some overlap · 5 shared positions

$BPRE $HFRO $MXF $TWN $GLO

$3.9B

400 positions

#11ROBINSON CAPITAL MANAGEMENT, LLCActive

Some overlap · 5 shared positions

$PCQ $PNI $VFL $FSCO $FSSL

$226M

100 positions

#12Noble Wealth Management PBCPassive

Some overlap · 4 shared positions

$FSCO $FSSL $BPRE $VFL

$223M

778 positions

#13Quantedge Capital Pte LtdActive

Some overlap · 5 shared positions

$STEW $HGLB $TWN $TDF $MXF

$132M

49 positions

#14RIVERNORTH CAPITAL MANAGEMENT, LLCPassive

Some overlap · 3 shared positions

$FSSL $FSCO $PCQ

$2.1B

585 positions

#15Concorde Asset Management, LLCPassive

Some overlap · 4 shared positions

$NXDT $HFRO $FSCO $WIW

$173M

152 positions

#16Logan Stone Capital, LLCActive

Some overlap · 5 shared positions

$PCQ $KF $BGX $VVR $PNI

$473M

155 positions

#17BLUE BELL PRIVATE WEALTH MANAGEMENT, LLCActive

Some overlap · 3 shared positions

$CET $STEW $DMA

$802M

716 positions

#18MELFA WEALTH MANAGEMENT, INC.Passive

Some overlap · 3 shared positions

$PCQ $PNI $JFR

$185M

196 positions

#19ACCREDITED INVESTOR SERVICES, LLCSmart money

Slight overlap · 3 shared positions

$WIW $JFR $JQC

$177M

81 positions

#20Financially in Tune, LLC

Slight overlap · 3 shared positions

$PCQ $FSCO $PNI

$116M

77 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.