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 Madison Asset

13F Portfolio OverlapQ2 2026Madison Asset portfolio →

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Most similar hedge funds by 13F overlap

Madison Asset Management, LLC is an institutional investor managing $8.4B across 347 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 Madison Asset are FENIMORE ASSET, Findlay Park Partners LLP, Kinsale Group, with shared positions in $APH, $ROST, $CDW, $KEYS, $BRO, $ADI. The full ranking of 25 similar funds is below.

#1FENIMORE ASSET MANAGEMENT INCActive

Notable overlap · 10 shared positions

$APH $ROST $CDW $KEYS $BRO $ADI

$4.8B

92 positions

#2Findlay Park Partners LLPActive

Notable overlap · 8 shared positions

$TXN $KEYS $FWONA $TDY $WAT $FERG

$7.4B

49 positions

#3Kinsale Capital Group, Inc.Active

Notable overlap · 7 shared positions

$PCAR $TXN $ACGL $CPRT $CSL $SCHW

$754M

41 positions

#4DUDLEY & SHANLEY, INC.Active

Notable overlap · 8 shared positions

$APH $ADI $WAT $DHR $FERG $A

$662M

37 positions

#5Maren Capital LLCSmart money

Notable overlap · 4 shared positions

$ACGL $APH $TDY $CPRT

$2.2B

17 positions

#6HAHN CAPITAL MANAGEMENT LLCActive

Notable overlap · 7 shared positions

$ROST $KEYS $LH $FWONA $A $WAT

$165M

31 positions

#7FIDUCIARY MANAGEMENT INC /WI/Active

Notable overlap · 7 shared positions

$CSL $CDW $ACGL $MSA $FERG $SCHW

$7.0B

56 positions

#8Dundas Partners LLPActive

Notable overlap · 5 shared positions

$APH $ROST $BRO $ADI $WRB

$1.4B

31 positions

#9Port Capital LLCActive

Notable overlap · 6 shared positions

$APH $ACGL $TDY $CPRT $PH $PGR

$2.5B

108 positions

#10Sierra Legacy GroupPassive

Notable overlap · 7 shared positions

$ROST $APH $WRB $AOS $DHR $A

$129M

79 positions

#11Giverny Capital Inc.Active

Notable overlap · 9 shared positions

$MEDP $KEYS $BRO $ADI $SCHW $PGR

$3.0B

51 positions

#12Watchman Group, Inc.Active

Notable overlap · 6 shared positions

$APH $PCAR $CSL $A $LOW $VRSK

$447M

73 positions

#13MARSHFIELD ASSOCIATESActive

Notable overlap · 4 shared positions

$ACGL $ROST $PGR $EXPD

$4.3B

17 positions

#14Vancity Investment Management LtdPassive

Notable overlap · 6 shared positions

$TXN $BRO $CPRT $CDW $DHR $FERG

$666M

92 positions

#15Manchester Global Management (UK) LtdActive

Notable overlap · 6 shared positions

$TXN $FWONA $ADI $DHR $FERG $SCHW

$906M

23 positions

#16Smith Group Asset Management, LLCActive

Notable overlap · 6 shared positions

$MEDP $ACGL $ADI $WAT $PH $SCHW

$2.5B

166 positions

#17JLB & ASSOCIATES INCPassive

Notable overlap · 5 shared positions

$APH $ROST $CPRT $PGR $EXPD

$748M

68 positions

#18PhiloSmith Capital CorpActive

Notable overlap · 3 shared positions

$ACGL $BRO $WRB

$368M

23 positions

#19Night Squared LPPassive

Notable overlap · 5 shared positions

$TXN $PCAR $ADI $PH $FERG

$930M

69 positions

#20CAMPBELL NEWMAN ASSET MANAGEMENT INCActive

Notable overlap · 5 shared positions

$APH $TXN $ADI $LOW $MEDP

$1.3B

99 positions

#21COOKE & BIELER LPActive

Notable overlap · 5 shared positions

$ACGL $LH $MSA $CSL $BAM

$8.6B

100 positions

#22HARVEY INVESTMENT CO LLCActive

Some overlap · 6 shared positions

$APH $WAT $A $CPRT $VRSK $AOS

$918M

99 positions

#23Ironvine Capital Partners, LLCActive

Some overlap · 6 shared positions

$ADI $APH $LH $DHR $LOW $BRO

$1.1B

57 positions

#24MATTERN CAPITAL MANAGEMENT, LLCPassive

Some overlap · 6 shared positions

$TXN $APH $BRO $ADI $PH $LOW

$857M

166 positions

#25LONDON CO OF VIRGINIAActive

Some overlap · 6 shared positions

$TXN $KEYS $SCHW $MC $PGR $LOW

$17.5B

169 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.