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 BANK OF MONTREAL /CAN/

13F Portfolio OverlapQ1 2026BANK OF MONTREAL /CAN/ portfolio →

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Most similar hedge funds by 13F overlap

BANK OF MONTREAL /CAN/ is an institutional investor managing $268.5B across 3,733 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 BANK OF MONTREAL /CAN/ are MUFG SECURITIES (CANADA), LTD., CIBC WORLD MARKET, TD Waterhouse Canada, with shared positions in $RY, $TD, $BNS, $CM, $BMO, $TRP. The full ranking of 25 similar funds is below.

#1MUFG SECURITIES (CANADA), LTD.Active

Substantial overlap · 19 shared positions

$RY $TD $BNS $CM $BMO $TRP

$3.5B

43 positions

#2CIBC WORLD MARKET INC.Passive

Substantial overlap · 17 shared positions

$RY $TD $BNS $CM $BMO $TRP

$61.3B

1,463 positions

#3TD Waterhouse Canada Inc.Passive

Substantial overlap · 17 shared positions

$RY $TD $BNS $CM $BMO $TRP

$33.7B

2,307 positions

#4Addenda Capital Inc.Active

Substantial overlap · 17 shared positions

$RY $TD $BNS $BMO $TRP $CNQ

$3.6B

129 positions

#5TD ASSET MANAGEMENT INCPassive

Substantial overlap · 18 shared positions

$RY $TD $CM $BMO $CNQ $ENB

$123.2B

1,230 positions

#6SCOTIA CAPITAL INC.Active

Substantial overlap · 16 shared positions

$RY $TD $BNS $CM $BMO $TRP

$24.3B

916 positions

#7CIBC Asset Management IncActive

Substantial overlap · 16 shared positions

$RY $TD $CM $BMO $BNS $TRP

$40.9B

1,372 positions

#8BANK OF NOVA SCOTIA TRUST COActive

Substantial overlap · 17 shared positions

$RY $TD $BMO $TRP $CNQ $ENB

$1.2B

161 positions

#9Federation des caisses Desjardins du QuebecPassive

Substantial overlap · 16 shared positions

$RY $TD $BNS $BMO $TRP $ENB

$27.8B

2,964 positions

#10MACKENZIE FINANCIAL CORPPassive

Substantial overlap · 18 shared positions

$RY $TD $BMO $CNQ $ENB $CM

$83.3B

1,420 positions

#11GUARDIAN CAPITAL LPActive

Substantial overlap · 16 shared positions

$RY $TD $CM $BMO $CNQ $ENB

$3.8B

177 positions

#121832 Asset Management L.P.Active

Substantial overlap · 16 shared positions

$RY $TD $BNS $BMO $TRP $CNQ

$108.8B

647 positions

#13Connor, Clark & Lunn Investment Management Ltd.Passive

Notable overlap · 17 shared positions

$RY $TD $CM $BNS $TRP $ENB

$43.4B

1,526 positions

#14Guardian Partners Inc.Active

Notable overlap · 13 shared positions

$RY $TD $BNS $CM $BMO $CNQ

$1.2B

192 positions

#15Hillsdale Investment Management Inc.Passive

Notable overlap · 14 shared positions

$RY $TD $BNS $CM $BMO $ENB

$3.7B

655 positions

#16PCJ Investment Counsel Ltd.Passive

Notable overlap · 14 shared positions

$RY $TD $CM $BMO $CNQ $ENB

$352M

59 positions

#17INTACT INVESTMENT MANAGEMENT INC.Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CNQ $ENB $SU

$3.5B

269 positions

#18Tacita Capital IncPassive

Notable overlap · 14 shared positions

$RY $TD $BNS $TRP $ENB $BMO

$169M

238 positions

#19TORONTO DOMINION BANKPassive

Notable overlap · 16 shared positions

$RY $BNS $CM $BMO $TRP $CNQ

$69.7B

2,092 positions

#20Scheer, Rowlett & Associates Investment Management Ltd.Active

Notable overlap · 14 shared positions

$RY $TD $BMO $TRP $CNQ $ENB

$1.4B

33 positions

#21Lorne Steinberg Wealth Management Inc.Passive

Notable overlap · 11 shared positions

$RY $TD $BNS $CM $BMO $TRP

$422M

68 positions

#22NATIONAL BANK OF CANADA /FI/Passive

Notable overlap · 16 shared positions

$RY $TD $BMO $CM $BNS $ENB

$111.5B

2,933 positions

#23PICTON MAHONEY ASSET MANAGEMENTPassive

Notable overlap · 13 shared positions

$RY $TD $TRP $CNQ $ENB $SU

$13.5B

1,238 positions

#24Gold Investment Management Ltd.Passive

Notable overlap · 13 shared positions

$TD $RY $BNS $CM $CNQ $ENB

$323M

201 positions

#25Purpose Unlimited Inc.Active

Notable overlap · 14 shared positions

$RY $TD $BNS $BMO $CNQ $ENB

$2.4B

577 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.