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 MERCHANTS

13F Portfolio OverlapQ3 2026FIRST MERCHANTS portfolio →

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Most similar hedge funds by 13F overlap

FIRST MERCHANTS CORP is an institutional investor managing $3.0B across 361 U.S. equity positions as of Q3 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to FIRST MERCHANTS are CARDEROCK, BRADY FAMILY WEALTH, ROFFMAN MILLER ASSOCIATES, with shared positions in $APH, $SYK, $FTNT, $TJX, $AME, $LIN. The full ranking of 25 similar funds is below.

#1CARDEROCK CAPITAL MANAGEMENT INCPassive

Notable overlap · 8 shared positions

$APH $SYK $FTNT $TJX $AME $LIN

$435M

70 positions

#2BRADY FAMILY WEALTH, LLCPassive

Notable overlap · 8 shared positions

$SYK $TJX $APH $CB $LOW $BLK

$346M

113 positions

#3ROFFMAN MILLER ASSOCIATES INC /PA/Active

Notable overlap · 6 shared positions

$APH $SYK $CB $TJX $TXN $AME

$2.0B

91 positions

#4HOWLAND CAPITAL MANAGEMENT LLCActive

Notable overlap · 6 shared positions

$APH $SYK $TJX $CB $ORLY $SPGI

$2.9B

286 positions

#5Stone Summit Wealth LLCPassive

Notable overlap · 7 shared positions

$APH $SYK $LOW $CMI $LIN $SCHW

$370M

137 positions

#6FLOSSBACH VON STORCH SEActive

Notable overlap · 6 shared positions

$APH $SYK $SCHW $AME $LIN $SPGI

$22.1B

106 positions

#7NOESIS CAPITAL MANGEMENT CORPActive

Notable overlap · 7 shared positions

$APH $SYK $LOW $CMI $LIN $AME

$843M

131 positions

#8Sandhill Capital Partners LLCActive

Notable overlap · 6 shared positions

$APH $SYK $SCHW $TXN $LIN $BLK

$1.2B

98 positions

#9BRIGHT ROCK CAPITAL MANAGEMENT, LLCPassive

Some overlap · 7 shared positions

$APH $TJX $SCHW $BLK $TXN $LIN

$529M

72 positions

#10ALTA CAPITAL MANAGEMENT LLC/Active

Some overlap · 5 shared positions

$APH $SYK $TJX $TXN $SPGI

$1.2B

215 positions

#11DAVIS R M INCActive

Some overlap · 5 shared positions

$APH $TJX $CB $AME $LIN

$6.3B

280 positions

#12Advocacy Wealth Management, LLCActive

Some overlap · 6 shared positions

$APH $SYK $LOW $SCHW $SPGI $AME

$2.8B

151 positions

#13COUNTRY TRUST BANKActive

Some overlap · 5 shared positions

$APH $CB $FTNT $BLK $LIN

$5.7B

628 positions

#14RESOURCES MANAGEMENT CORP /CT/ /ADVPassive

Some overlap · 5 shared positions

$APH $TJX $BLK $SYK $ORLY

$794M

188 positions

#15Union Heritage Capital, LLCPassive

Some overlap · 5 shared positions

$APH $SYK $TJX $AME $ORLY

$295M

65 positions

#16JLB & ASSOCIATES INCPassive

Some overlap · 5 shared positions

$APH $TJX $AME $SYK $ORLY

$748M

68 positions

#17Smith, Salley & AssociatesPassive

Some overlap · 6 shared positions

$APH $TJX $LOW $AME $LIN $CMI

$2.3B

275 positions

#18Ayrshire Capital Management LLCPassive

Some overlap · 5 shared positions

$APH $TJX $AME $LIN $SPGI

$219M

50 positions

#19Elk River Wealth Management, LLCActive

Some overlap · 5 shared positions

$APH $LOW $TXN $ORLY $BLK

$628M

103 positions

#20Watchman Group, Inc.Active

Some overlap · 4 shared positions

$APH $SYK $LOW $CMI

$434M

72 positions

#21Haverford Financial Services, Inc.Active

Some overlap · 7 shared positions

$TJX $LOW $SYK $BLK $TXN $SPGI

$339M

49 positions

#22PROFESSIONAL ADVISORY SERVICES INCActive

Some overlap · 4 shared positions

$APH $SYK $TJX $SPGI

$837M

90 positions

#23NovaPoint Capital, LLCPassive

Some overlap · 5 shared positions

$APH $CB $CMI $TXN $SPGI

$464M

162 positions

#24Nova R Wealth, Inc.Active

Some overlap · 6 shared positions

$APH $TXN $ORLY $SPGI $TJX $SCHW

$341M

90 positions

#25BARTLETT & CO. WEALTH MANAGEMENT LLCPassive

Some overlap · 7 shared positions

$TJX $LOW $CB $LIN $MDY $APH

$8.0B

1,334 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.