Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FBCG)

262 + Investors. Track Smart Money conviction in FBCG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +8
Streak
6Q ▲
Buyers last Q
61%

Smart Money Signals — FBCG

Based on 264 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 6 quarters in a row

last 6Q
For 6 consecutive quarters, more hedge funds added FBCG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
264 hedge funds hold FBCG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +39% more funds vs a year ago

fund count last 6Q
+74 new funds entered over the past year (+39% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 61% buying

160 buying102 selling
Last quarter: 160 funds were net buyers (39 opened a brand new position + 121 added to an existing one). Only 102 were sellers (71 trimmed + 31 sold completely). A clear majority buying is a strong confirmation signal.
⚠️

Fewer new buyers each quarter (-19 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 34 → 42 → 58 → 39. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
📌

Mixed — 28% long-term, 34% new

■ 28% conviction (2yr+) ■ 37% medium ■ 34% new
Of the 264 current holders: 75 (28%) held >2 years, 98 held 1–2 years, and 91 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💎

Buying through price weakness — shares -23%, value -82%

Value
-81%
Shares
-23%
Last quarter: funds added -23% more shares while total portfolio value only changed -82%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
📈

Growing discovery — still being found

40 → 34 → 42 → 58 → 39 new funds/Q
New funds entering each quarter: 34 → 42 → 58 → 39. A growing number of institutions are discovering FBCG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 28% veterans, 44% new entrants

■ 28% veterans ■ 28% 1-2yr ■ 44% new
Of 264 current holders: 75 (28%) held 2+ years, 73 held 1–2 years, 116 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 41% AUM from top-100 funds

41% from top-100 AUM funds
20 of 264 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in FBCG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — FBCG

In 2026 Q1, 160 hedge funds were net buyers of FBCG (39 opened a new position, 121 added to an existing one), while 102 reduced or exited (71 trimmed, 31 sold completely) — a 61% buyer ratio, indicating clear institutional accumulation. This marks 6 consecutive quarters of net institutional buying — a persistent conviction signal. 41% of total institutional value in FBCG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +8 funds (more new holders than closures). Total institutional holders: 264.

Hedge Fund Ownership: FBCG

How many hedge funds hold FBCG — quarterly history vs. share price
Quarterly hedge fund ownership of FBCG vs. share price

Market Analysis: FBCG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FBCG

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Fidelity Covington Trust (FBCG) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FBCG has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 74d ago
FBCG
+21.5%
SPY
+14.1%

FBCG outperformed SPY by +7.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 29d ago
FBCG
-0.2%
SPY
+0.3%

Since the filing became public, FBCG outperformed SPY by -0.5% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

12 top-rated funds 21 high-conviction
Consensus
4.8
/ 10
breadth
×
Elite
3.6
/ 10
conviction
Hedge Fund Positioning: FBCG
262 + Investors

Track Smart Money conviction in FBCG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 262 256 2.34%
13F Shares 74M 96M -23.12%
Total Value $3.65B $19.89B -81.66%
New Positions 39 58 -19
Increased Positions 121 109 +12
Closed Positions 33 19 +14
Reduced Positions 69 58 +11
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FBCG

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Institutional Holders (2026 Q1)

262 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FBCG. Verified SEC 13F-HR filings.

QUARTER:
Top 25 FBCG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Goodwin Investment Advisory 49.93% 836,772 $41.9M
2 Storgate, LLC 24.07% 612,060 $30.7M
3 Clarity Retirement & Wealth, LLC 18.14% 448,744 $22.5M
4 Accredited Investor Services, LLC 15.07% 468,312 $23.5M
5 Sowa Financial Group, Inc. 14.94% 601,668 $30.2M
6 Keenan, LLC 13.82% 321,903 $16.4M
7 BG Investment Services, LLC 13.53% 325,360 $16.3M
8 KFA Private Wealth Group, LLC 12.64% 1,050,372 $52.6M
9 Align Financial, LLC 7.98% 280,091 $14.0M
10 Centerline Wealth Advisors, LLC 7.96% 441,452 $22.1M
11 Arwa LLC 6.42% 241,771 $13.0M
12 Salus Financial Advisors, LLC 6.04% 206,806 $10.4M
13 Advantage Trust Co 5.27% 234,419 $11.7M
14 Sagespring Wealth Partners, LLC 5.15% 5,642,044 $282.8M
15 Variant Private Wealth, LLC 4.71% 77,541 $3.9M
16 Portfolio Strategies, Inc. 4.61% 746,596 $37.4M
17 Daybright Advisory Services, Inc. 4.33% 312,053 $15.6M
18 Providence Financial Advisors, LLC 4.23% 148,158 $7.4M
19 Dahring | Cusmano LLC 4.21% 136,702 $6.9M
20 Storen Legacy Partners, LLC 4.12% 262,099 $13.1M
21 Dedeker Financial LLC 3.82% 87,512 $4.4M
22 Roxbury Financial LLC 3.66% 81,320 $4.1M
23 Dynasty Wealth Management, LLC 3.14% 7,186,404 $360.2M
24 Unique Wealth, LLC 2.76% 397,856 $19.9M
25 Clg LLC 2.49% 199,954 $10.0M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Fidelity Covington Trust (FBCG)

What does the Smart Money Trend signal show for FBCG?

Buying streak — 6 quarters in a row: For 6 consecutive quarters, more hedge funds added FBCG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FBCG?

More buyers than sellers — 61% buying: Last quarter: 160 funds were net buyers (39 opened a brand new position + 121 added to an existing one). Only 102 were sellers (71 trimmed + 31 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FBCG holders?

Elite ownership — 41% AUM from top-100 funds: 20 of 264 holders are among the 100 largest funds by AUM, controlling 41% of total institutional value in FBCG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held FBCG?

Mixed — 28% long-term, 34% new: Of the 264 current holders: 75 (28%) held >2 years, 98 held 1–2 years, and 91 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Is it too late to buy Fidelity Covington Trust (FBCG) following the 2026 Q1 hedge fund 13F filings?

As of today, FBCG has moved -0.2% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.3% for the SPY sector ETF — an outperformance of -0.5%. Since the quarter end (March 31, 2026), FBCG has gained +21.5% vs +14.1% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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