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 HEARTLAND ADVISORS

13F Portfolio OverlapQ2 2026HEARTLAND ADVISORS portfolio →

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Most similar hedge funds by 13F overlap

HEARTLAND ADVISORS INC is an institutional investor managing $2.2B across 244 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 HEARTLAND ADVISORS are NEUMEIER POMA INVESTMENT COUNSEL, Pier, DONALD SMITH, with shared positions in $SIMO, $CGAU, $PRMB, $CCS, $SBCF, $GBCI. The full ranking of 25 similar funds is below.

#1NEUMEIER POMA INVESTMENT COUNSEL LLCActive

Some overlap · 3 shared positions

$SIMO $CGAU $PRMB

$1.5B

42 positions

#2Pier Capital, LLCPassive

Some overlap · 4 shared positions

$CCS $SBCF $GBCI $HXL

$755M

129 positions

#3DONALD SMITH & CO., INC.Active

Some overlap · 3 shared positions

$CGAU $EGO $ALGT

$5.6B

66 positions

#4Congruence Capital, LLCActive

Some overlap · 3 shared positions

$TDY $GTES $NWPX

$383M

28 positions

#5SPEECE THORSON CAPITAL GROUP INCActive

Some overlap · 3 shared positions

$TFX $CASS $HXL

$468M

37 positions

#6Findlay Park Partners LLPActive

Some overlap · 3 shared positions

$TDY $EOG $BDX

$7.4B

49 positions

#7Soapstone Management L.P.Active

Some overlap · 3 shared positions

$TFX $PSA $BDX

$138M

13 positions

#8CRAMER ROSENTHAL MCGLYNN LLCPassive

Some overlap · 3 shared positions

$TDY $CPT $KWR

$2.0B

96 positions

#9COOKE & BIELER LPActive

Slight overlap · 3 shared positions

$TFX $BDX $GBCI

$8.6B

100 positions

#10CLIFFORD CAPITAL PARTNERS LLCActive

Slight overlap · 4 shared positions

$EVTC $BDX $GBCI $XRN

$727M

43 positions

#11DEPRINCE RACE & ZOLLO INCActive

Slight overlap · 3 shared positions

$PRMB $SBCF $GBCI

$6.0B

188 positions

#12Turas Capital Management LPPassive

Slight overlap · 3 shared positions

$JBHT $ALGT $PHIN

$218M

59 positions

#13Pensionfund SabicActive

Slight overlap · 3 shared positions

$PSA $CPT $LXP

$94M

76 positions

#14Leeward Investments, LLC - MAActive

Slight overlap · 3 shared positions

$ASB $GTES $HXL

$2.2B

140 positions

#15Monte Financial Group, LLCPassive

Slight overlap · 3 shared positions

$EOG $WSO $BDX

$312M

102 positions

#16Pensionfund PDNActive

Slight overlap · 3 shared positions

$PSA $CPT $LXP

$194M

76 positions

#17CROWN ADVISORS MANAGEMENT, INC.Active

Slight overlap · 3 shared positions

$EZPW $NWPX $BBSI

$182M

43 positions

#18CENTERSQUARE INVESTMENT MANAGEMENT LLCActive

Slight overlap · 3 shared positions

$PSA $CPT $LXP

$11.7B

80 positions

#19Uniplan Investment Counsel, Inc.Passive

Slight overlap · 3 shared positions

$PSA $XRN $NWPX

$1.1B

175 positions

#20Channing Capital Management, LLCActive

Slight overlap · 3 shared positions

$GTES $GBCI $HXL

$4.3B

106 positions

#21Pullen Investment Management, LLCPassive

Slight overlap · 3 shared positions

$ASO $BBSI $ARCB

$216M

98 positions

#22STEPHENSON NATIONAL BANK & TRUSTActive

Slight overlap · 3 shared positions

$EOG $EXC $ARCB

$395M

283 positions

#23Redmond Asset Management, LLCPassive

Slight overlap · 3 shared positions

$WSO $XRN $HXL

$401M

199 positions

#24NFJ INVESTMENT GROUP, LLCPassive

Slight overlap · 3 shared positions

$EOG $GBCI $HSY

$3.0B

208 positions

#25AEW CAPITAL MANAGEMENT L PActive

Slight overlap · 3 shared positions

$PSA $LXP $CPT

$1.7B

39 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.