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 ROYAL BANK OF CANADA

13F Portfolio OverlapQ2 2026ROYAL BANK OF CANADA portfolio →

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Most similar hedge funds by 13F overlap

ROYAL BANK OF CANADA is an institutional investor managing $671.5B across 7,605 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 ROYAL BANK OF CANADA are MUFG SECURITIES (CANADA), LTD., CIBC Asset, CIBC WORLD MARKET, with shared positions in $RY, $TD, $BMO, $CM, $BNS, $ENB. The full ranking of 25 similar funds is below.

#1MUFG SECURITIES (CANADA), LTD.Active

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$3.7B

43 positions

#2CIBC Asset Management IncPassive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$45.6B

1,428 positions

#3CIBC WORLD MARKET INC.Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$62.3B

1,540 positions

#4SCOTIA CAPITAL INC.Active

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$26.8B

915 positions

#5SIG North Trading, ULCActive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$5.4B

286 positions

#6TD Waterhouse Canada Inc.Passive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $BNS $ENB

$38.0B

2,405 positions

#7MACKENZIE FINANCIAL CORPPassive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $ENB $BNS

$101.2B

1,554 positions

#8TD ASSET MANAGEMENT INCPassive

Notable overlap · 15 shared positions

$RY $TD $BMO $CM $ENB $BNS

$115.4B

1,216 positions

#9Addenda Capital Inc.Active

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $BNS $ENB

$3.7B

128 positions

#10BANK OF NOVA SCOTIA TRUST COActive

Notable overlap · 15 shared positions

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

$1.2B

173 positions

#11BANK OF MONTREAL /CAN/Passive

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $BNS $ENB

$303.7B

3,831 positions

#12GUARDIAN CAPITAL LPActive

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $ENB $CNQ

$4.1B

174 positions

#13Federation des caisses Desjardins du QuebecPassive

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $BNS $ENB

$32.7B

3,021 positions

#141832 Asset Management L.P.Smart money

Notable overlap · 14 shared positions

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

$199.4B

630 positions

#15PCJ Investment Counsel Ltd.Passive

Notable overlap · 13 shared positions

$RY $TD $BMO $CM $BNS $ENB

$348M

62 positions

#16BRITISH COLUMBIA INVESTMENT MANAGEMENT CorpActive

Notable overlap · 14 shared positions

$RY $TD $BMO $ENB $CM $CNQ

$16.0B

663 positions

#17Alberta Investment Management CorpActive

Notable overlap · 14 shared positions

$RY $TD $BMO $BNS $CNQ $TRP

$17.9B

665 positions

#18Gold Investment Management Ltd.Passive

Notable overlap · 13 shared positions

$RY $TD $CM $BMO $BNS $ENB

$369M

202 positions

#19Guardian Partners Inc.Passive

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $BNS $ENB

$1.1B

391 positions

#20Murchinson Ltd.Passive

Notable overlap · 13 shared positions

$RY $TD $BMO $CM $CNQ $TRP

$725M

125 positions

#21Lorne Steinberg Wealth Management Inc.Passive

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $BNS $TRP

$487M

72 positions

#22NATIONAL BANK OF CANADA /FI/Passive

Notable overlap · 14 shared positions

$RY $TD $BMO $CM $BNS $ENB

$139.8B

3,116 positions

#23Purpose Unlimited Inc.Active

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $BNS $ENB

$2.6B

603 positions

#24Tacita Capital IncPassive

Notable overlap · 11 shared positions

$RY $TD $BMO $CM $BNS $ENB

$184M

214 positions

#25INTACT INVESTMENT MANAGEMENT INC.Passive

Notable overlap · 12 shared positions

$RY $TD $BMO $CM $ENB $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.