The 2019 All-America Research Team: Hedge Fund Cut put voters’ money where their mouths are, with a revamped methodology that weights survey respondents based on how much they spend on equity commissions, as opposed to their assets under management. This year, voters were also asked to rank the top firms in each sector.

Bank of America Merrill Lynch debuts atop the new commission-weighted ranking of research groups, collecting a total of 45 team positions across the 60 industry and economic sectors included in this year’s survey. JPMorgan Chase & Co. — voted hedge funds’ No. 1 research provider in 2018’s AUM-weighted ranking — places second with 41 team positions.

When voters are asked to rank the best individual analysts in each sector — responses which were, again, weighted by commissions — BofA Merrill Lynch and JPMorgan tie for the top spot. However, when the survey responses are weighted by assets under management, JPMorgan places first in the rankings of both overall firms and individual analysts.

All four leaderboards, plus an article on the results and the full methodology, can be viewed using the navigation bar at right.