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 Northwest & Ethical Investments

13F Portfolio OverlapQ1 2026Northwest & Ethical Investments portfolio →

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Most similar hedge funds by 13F overlap

Northwest & Ethical Investments L.P. is an institutional investor managing $4.3B across 526 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 Northwest & Ethical Investments are BANK OF NOVA SCOTIA, MUFG SECURITIES (CANADA), LTD., MACKENZIE FINANCIAL, with shared positions in $RY, $TD, $WCN, $CNI, $CP, $FNV. The full ranking of 25 similar funds is below.

#1BANK OF NOVA SCOTIA TRUST COActive

Notable overlap · 12 shared positions

$RY $TD $WCN $CNI $CP $FNV

$1.2B

161 positions

#2MUFG SECURITIES (CANADA), LTD.Active

Notable overlap · 11 shared positions

$RY $TD $WCN $CNI $CP $FNV

$3.5B

43 positions

#3MACKENZIE FINANCIAL CORPPassive

Notable overlap · 11 shared positions

$RY $TD $CNI $WCN $CP $SHOP

$83.3B

1,420 positions

#4Addenda Capital Inc.Active

Notable overlap · 10 shared positions

$RY $TD $WCN $CNI $CP $FNV

$3.6B

129 positions

#51832 Asset Management L.P.Active

Notable overlap · 10 shared positions

$RY $TD $WCN $CNI $CP $FNV

$108.8B

647 positions

#6DAVIS-REA LTD.Passive

Notable overlap · 9 shared positions

$RY $TD $LIN $CNI $SHOP $ENB

$384M

54 positions

#7Gold Investment Management Ltd.Passive

Notable overlap · 9 shared positions

$RY $TD $UNP $CNI $CP $ENB

$323M

201 positions

#8Federation des caisses Desjardins du QuebecPassive

Notable overlap · 10 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$27.8B

2,964 positions

#9Aviso Financial Inc.Active

Notable overlap · 10 shared positions

$RY $TD $LIN $CP $FNV $ENB

$2.8B

338 positions

#10Scheer, Rowlett & Associates Investment Management Ltd.Active

Notable overlap · 9 shared positions

$RY $TD $CNI $CP $FNV $ENB

$1.4B

33 positions

#11GUARDIAN CAPITAL LPActive

Notable overlap · 9 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$3.8B

177 positions

#12BCV Asset Management Inc.Active

Notable overlap · 9 shared positions

$RY $WCN $UNP $CNI $CP $BN

$2.9B

120 positions

#13PICTON MAHONEY ASSET MANAGEMENTPassive

Notable overlap · 9 shared positions

$RY $TD $CP $FNV $SHOP $ENB

$13.5B

1,238 positions

#14TD ASSET MANAGEMENT INCPassive

Notable overlap · 9 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$123.2B

1,230 positions

#15Connor, Clark & Lunn Investment Management Ltd.Passive

Notable overlap · 9 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$43.4B

1,526 positions

#16CIDEL ASSET MANAGEMENT INCPassive

Notable overlap · 8 shared positions

$RY $TD $WCN $CNI $CP $CL

$1.8B

436 positions

#17BANK OF MONTREAL /CAN/Passive

Notable overlap · 10 shared positions

$RY $TD $ENB $BN $CNQ $SHOP

$268.5B

3,733 positions

#18FIL LtdPassive

Notable overlap · 8 shared positions

$RY $TD $CNI $CP $FNV $SHOP

$128.7B

1,105 positions

#19PCJ Investment Counsel Ltd.Passive

Notable overlap · 8 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$352M

59 positions

#20CIBC WORLD MARKET INC.Passive

Notable overlap · 8 shared positions

$RY $TD $CNI $CP $SHOP $ENB

$61.3B

1,463 positions

#21CIBC Asset Management IncActive

Notable overlap · 8 shared positions

$RY $TD $CP $CNI $SHOP $ENB

$40.9B

1,372 positions

#22SCOTIA CAPITAL INC.Active

Notable overlap · 8 shared positions

$RY $TD $CNI $CP $ENB $BN

$24.3B

916 positions

#23Impax Asset Management Group plcActive

Notable overlap · 9 shared positions

$WCN $LIN $UNP $KLAC $A $HUBB

$14.3B

287 positions

#24TD Waterhouse Canada Inc.Passive

Notable overlap · 8 shared positions

$RY $TD $CNI $CP $ENB $BN

$33.7B

2,307 positions

#25NATIONAL BANK OF CANADA /FI/Passive

Notable overlap · 9 shared positions

$RY $TD $SHOP $ENB $BN $CNI

$111.5B

2,933 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.