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 R Squared Ltd

13F Portfolio OverlapQ2 2026R Squared Ltd portfolio →

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Most similar hedge funds by 13F overlap

R Squared Ltd is an institutional investor managing $190M across 509 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 R Squared Ltd are GABELLI & INVESTMENT ADVISERS, WATER ISLAND, AQR Arbitrage, with shared positions in $TXNM, $PEN, $EA, $WBS, $UNF, $C. The full ranking of 25 similar funds is below.

#1GABELLI & Co INVESTMENT ADVISERS, INC.Passive

Some overlap · 5 shared positions

$TXNM $PEN $EA $WBS $UNF

$688M

316 positions

#2WATER ISLAND CAPITAL LLCActive

Some overlap · 5 shared positions

$TXNM $PEN $EA $WBS $UNF

$1.1B

85 positions

#3AQR Arbitrage LLCPassive

Some overlap · 5 shared positions

$PEN $TXNM $EA $WBS $UNF

$7.0B

634 positions

#4ALPINE ASSOCIATES MANAGEMENT INC.Active

Some overlap · 5 shared positions

$PEN $TXNM $EA $WBS $UNF

$1.6B

66 positions

#5Birnam Oak Advisors, LPActive

Some overlap · 4 shared positions

$TXNM $PEN $EA $UNF

$616M

40 positions

#6Melqart Asset Management (UK) LtdActive

Some overlap · 4 shared positions

$TXNM $PEN $EA $UNF

$1.1B

40 positions

#7CIBRA Capital Ltd

Some overlap · 4 shared positions

$TXNM $PEN $EA $UNF

$207M

25 positions

#8WealthShield Partners, LLCPassive

Some overlap · 7 shared positions

$C $ISRG $ICE $PH $CME $CMI

$654M

379 positions

#9Kintayl Capital LPPassive

Some overlap · 4 shared positions

$TXNM $PEN $EA $WBS

$252M

61 positions

#10Bayesian Capital Management, LPPassive

Some overlap · 6 shared positions

$C $ISRG $ICE $CME $MCD $GM

$156M

223 positions

#11Empyrean Capital Partners, LPPassive

Some overlap · 4 shared positions

$TXNM $EA $PEN $UNF

$3.0B

122 positions

#12SKBA CAPITAL MANAGEMENT LLCPassive

Some overlap · 6 shared positions

$C $MDT $LHX $CME $TXN $MMM

$606M

79 positions

#13WORLDQUANT MILLENNIUM ADVISORS LLCPassive

Some overlap · 7 shared positions

$ISRG $ICE $C $TXN $CMI $MMM

$29.1B

702 positions

#14Sand Grove Capital Management LLPActive

Some overlap · 4 shared positions

$TXNM $EA $WBS $UNF

$383M

14 positions

#15MORGAN DEMPSEY CAPITAL MANAGEMENT LLCPassive

Some overlap · 6 shared positions

$C $MDT $CME $TXN $CMI $MCD

$233M

122 positions

#16Westchester Capital Management, LLCPassive

Some overlap · 4 shared positions

$PEN $EA $WBS $UNF

$2.0B

310 positions

#17TIG Advisors, LLCActive

Some overlap · 4 shared positions

$PEN $EA $WBS $UNF

$2.3B

109 positions

#18HARVEST MANAGEMENT LLCActive

Some overlap · 4 shared positions

$PEN $EA $WBS $UNF

$254M

64 positions

#19Avantra Family Wealth, Inc.Passive

Some overlap · 5 shared positions

$C $ICE $MDT $LHX $TXN

$157M

165 positions

#20Entropy Technologies, LPPassive

Some overlap · 7 shared positions

$NOC $ISRG $PH $CME $ICE $TMUS

$2.5B

929 positions

#21Capital Analysts, LLCPassive

Some overlap · 5 shared positions

$C $MDT $LHX $SPGI $MCD

$4.3B

1,536 positions

#22Talon Private Wealth, LLC

Some overlap · 5 shared positions

$C $NOC $LHX $STT $TMUS

$753M

187 positions

#23Athos Capital LtdActive

Some overlap · 3 shared positions

$TXNM $PEN $WBS

$282M

38 positions

#24HBK INVESTMENTS L PActive

Some overlap · 3 shared positions

$PEN $EA $TXNM

$10.2B

276 positions

#25OARSMAN CAPITAL, INC.Active

Some overlap · 5 shared positions

$C $MDT $PH $ORLY $CMI

$945M

244 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.