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 Addenda

13F Portfolio OverlapQ2 2026Addenda portfolio →

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Most similar hedge funds by 13F overlap

Addenda Capital Inc. is an institutional investor managing $3.7B across 128 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 Addenda are MUFG SECURITIES (CANADA), LTD., SIG North Trading, ULC, BANK OF NOVA SCOTIA, with shared positions in $TD, $RY, $BMO, $BNS, $SHOP, $BN. The full ranking of 25 similar funds is below.

#1MUFG SECURITIES (CANADA), LTD.Active

Highly similar · 25 shared positions

$TD $RY $BMO $BNS $SHOP $BN

$3.7B

43 positions

#2SIG North Trading, ULCActive

Highly similar · 24 shared positions

$TD $RY $BMO $BNS $ENB $CCJ

$5.4B

286 positions

#3BANK OF NOVA SCOTIA TRUST COActive

Highly similar · 18 shared positions

$TD $RY $BMO $ENB $CNQ $CNI

$1.2B

173 positions

#4Scheer, Rowlett & Associates Investment Management Ltd.Active

Highly similar · 16 shared positions

$TD $RY $BMO $BN $CP $CNI

$1.4B

30 positions

#5CIBC WORLD MARKET INC.Passive

Substantial overlap · 20 shared positions

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

$62.3B

1,540 positions

#6Tacita Capital IncPassive

Substantial overlap · 19 shared positions

$RY $TD $BN $BNS $ENB $CNI

$184M

214 positions

#7PCJ Investment Counsel Ltd.Passive

Substantial overlap · 19 shared positions

$RY $TD $SHOP $BNS $BMO $CNI

$348M

62 positions

#8SCOTIA CAPITAL INC.Active

Substantial overlap · 18 shared positions

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

$26.8B

915 positions

#9TD Waterhouse Canada Inc.Passive

Substantial overlap · 17 shared positions

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

$38.0B

2,405 positions

#10GUARDIAN CAPITAL LPActive

Substantial overlap · 16 shared positions

$RY $TD $BN $CNQ $BMO $CP

$4.1B

174 positions

#11Guardian Partners Inc.Passive

Substantial overlap · 13 shared positions

$TD $RY $BMO $BNS $ENB $CNI

$1.1B

391 positions

#12Aviso Financial Inc.Passive

Substantial overlap · 18 shared positions

$TD $BMO $BN $ENB $CNQ $CP

$2.9B

273 positions

#13Murchinson Ltd.Passive

Substantial overlap · 14 shared positions

$TD $RY $BMO $CP $CNI $TRP

$725M

125 positions

#14LINCLUDEN MANAGEMENT LTDActive

Substantial overlap · 12 shared positions

$TD $RY $BNS $CNQ $BN $CNI

$1.0B

68 positions

#15Cardinal Capital Management, Inc.Active

Substantial overlap · 12 shared positions

$RY $BMO $BNS $BN $CP $CNI

$4.1B

70 positions

#16Delaney Capital Management Ltd.Active

Substantial overlap · 10 shared positions

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

$632M

53 positions

#17CIBC Asset Management IncPassive

Substantial overlap · 18 shared positions

$RY $TD $BMO $BNS $CNI $AEM

$45.6B

1,428 positions

#18PICTON MAHONEY ASSET MANAGEMENTPassive

Substantial overlap · 17 shared positions

$RY $TD $SHOP $CP $BN $ENB

$13.5B

1,378 positions

#19MACKENZIE FINANCIAL CORPPassive

Substantial overlap · 17 shared positions

$RY $TD $BMO $CP $AEM $ENB

$101.2B

1,554 positions

#201832 Asset Management L.P.Smart money

Substantial overlap · 17 shared positions

$RY $TD $CNI $BN $BMO $SHOP

$199.4B

630 positions

#21Federation des caisses Desjardins du QuebecPassive

Substantial overlap · 15 shared positions

$RY $TD $BNS $BMO $BN $SU

$32.7B

3,021 positions

#22Burkett Asset Management LtdPassive

Substantial overlap · 11 shared positions

$RY $TD $BMO $BN $CNQ $CNI

$107M

59 positions

#23Lorne Steinberg Wealth Management Inc.Passive

Substantial overlap · 11 shared positions

$RY $TD $BMO $CP $CNI $TRP

$487M

72 positions

#24Triasima Portfolio Management inc.Passive

Substantial overlap · 14 shared positions

$RY $TD $BMO $CNI $HBM $BNS

$740M

127 positions

#25INTACT INVESTMENT MANAGEMENT INC.Passive

Substantial overlap · 17 shared positions

$TD $RY $BMO $CNI $SU $MFC

$3.5B

274 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.