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 OverlapQ1 2026HEARTLAND ADVISORS portfolio →

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Most similar hedge funds by 13F overlap

HEARTLAND ADVISORS INC is an institutional investor managing $2.0B across 244 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 HEARTLAND ADVISORS are DONALD SMITH & ,, COOKE & BIELER, Findlay Park Partners LLP, with shared positions in $CGAU, $EGO, $ALGT, $MHK, $TFX, $EOG. The full ranking of 25 similar funds is below.

#1DONALD SMITH & CO., INC.Active

Some overlap · 4 shared positions

$CGAU $EGO $ALGT $MHK

$5.6B

62 positions

#2COOKE & BIELER LPActive

Some overlap · 4 shared positions

$TFX $EOG $BDX $GBCI

$8.8B

103 positions

#3Findlay Park Partners LLPActive

Some overlap · 4 shared positions

$TDY $EOG $BDX $COO

$7.2B

56 positions

#4KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLCPassive

Some overlap · 4 shared positions

$TDY $WSO $COO $THO

$34.0B

957 positions

#5Soapstone Management L.P.Active

Some overlap · 3 shared positions

$TFX $PSA $BDX

$140M

12 positions

#6Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A.Active

Some overlap · 3 shared positions

$CGAU $EGO $EOG

$56M

38 positions

#7PERRITT CAPITAL MANAGEMENT INC

Some overlap · 4 shared positions

$EZPW $NWPX $PLAB $LINC

$60M

79 positions

#8Park West Asset Management LLCActive

Some overlap · 3 shared positions

$TFX $BDX $PRMB

$1.2B

52 positions

#9Monte Financial Group, LLCPassive

Slight overlap · 3 shared positions

$EOG $WSO $HSY

$282M

100 positions

#10Ruffer LLPPassive

Slight overlap · 4 shared positions

$EGO $COO $MHK $CGAU

$2.4B

176 positions

#11DAVIDSON INVESTMENT ADVISORSActive

Slight overlap · 3 shared positions

$EOG $BDX $CPT

$2.0B

120 positions

#12KESTREL INVESTMENT MANAGEMENT CORPPassive

Slight overlap · 3 shared positions

$ITGR $PHIN $PLAB

$167M

39 positions

#13ISTHMUS PARTNERS, LLCPassive

Slight overlap · 3 shared positions

$PSA $HSY $SYY

$953M

217 positions

#14Granahan Investment Management, LLCActive

Slight overlap · 3 shared positions

$SIMO $GTES $TCBI

$2.1B

149 positions

#15DEPRINCE RACE & ZOLLO INCPassive

Slight overlap · 3 shared positions

$SBCF $GBCI $PRMB

$5.3B

184 positions

#16QSV Equity Investors LLC

Slight overlap · 3 shared positions

$SBCF $GBCI $KWR

$68M

89 positions

#17Uniplan Investment Counsel, Inc.Passive

Slight overlap · 3 shared positions

$PSA $XRN $LINC

$974M

183 positions

#18FIDUCIARY MANAGEMENT INC /WI/Active

Slight overlap · 3 shared positions

$BDX $GTES $SYY

$8.1B

62 positions

#19Longview Partners (Guernsey) LTDActive

Slight overlap · 3 shared positions

$BDX $COO $SYY

$7.1B

25 positions

#20NEW ENGLAND ASSET MANAGEMENT INCActive

Slight overlap · 3 shared positions

$EXC $BDX $SYY

$786M

99 positions

#21SummerHaven Investment Management, LLCPassive

Slight overlap · 3 shared positions

$NWPX $PLAB $NOV

$163M

193 positions

#22SILVERCREST ASSET MANAGEMENT GROUP LLCPassive

Slight overlap · 3 shared positions

$GBCI $EOG $MGY

$13.8B

832 positions

#23CLIFFORD CAPITAL PARTNERS LLCPassive

Slight overlap · 4 shared positions

$BDX $GBCI $PLAB $XRN

$600M

42 positions

#24Apollo Management Holdings, L.P.Active

Slight overlap · 3 shared positions

$PSA $CPT $MHK

$7.6B

86 positions

#25Bare Financial Services, IncPassive

Slight overlap · 3 shared positions

$EXC $SBCF $THO

$378M

1,730 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.