Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FCLD)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +2
Streak
2Q ▲
Buyers last Q
33%

Smart Money Signals — FCLD

Based on 23 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added FCLD 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
23 hedge funds hold FCLD 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 — +35% more funds vs a year ago

fund count last 6Q
+6 new funds entered over the past year (+35% 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.
🔴

Heavy selling pressure — only 33% buying

7 buying14 selling
Last quarter: 14 funds sold vs only 7 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️

Steady new buyers — ~4 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 4 → 1 → 8 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 39% long-term, 43% new

■ 39% conviction (2yr+) ■ 17% medium ■ 43% new
Of the 23 current holders: 9 (39%) held >2 years, 4 held 1–2 years, and 10 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.
➡️

Steady discovery — ~4 new funds/quarter

2 → 4 → 1 → 8 → 4 new funds/Q
New funds entering each quarter: 4 → 1 → 8 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 39% veterans, 52% new entrants

■ 39% veterans ■ 9% 1-2yr ■ 52% new
Of 23 current holders: 9 (39%) held 2+ years, 2 held 1–2 years, 12 (52%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋

Smaller funds dominant — 18% AUM from top-100

18% from top-100 AUM funds
6 of 23 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
5.6
out of 10
Moderate Exit Risk
Exit risk score 5.6/10 — 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 — FCLD

In 2026 Q1, 7 hedge funds were net buyers of FCLD (4 opened a new position, 3 added to an existing one), while 14 reduced or exited (12 trimmed, 2 sold completely) — a 33% buyer ratio, indicating net institutional distribution. Net buying has persisted for two consecutive quarters, a positive momentum signal. Net fund flow last quarter: +2 funds (more new holders than closures). Total institutional holders: 23.

Hedge Fund Ownership: FCLD

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

Market Analysis: FCLD

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FCLD

-- --

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

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

Signal Freshness measures how much FCLD 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 · 91d ago
FCLD
+43.2%
SPY
+13.7%

FCLD outperformed SPY by +29.5% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 46d ago
FCLD
+12.5%
SPY
+0.1%

Since the filing became public, FCLD outperformed SPY by +12.4% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 0 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: FCLD
23 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 23 21 9.52%
13F Shares 574K 676K -15.08%
Total Value $14M $20M -27.7%
New Positions 4 8 -4
Increased Positions 3 3 -
Closed Positions 2 1 +1
Reduced Positions 12 7 +5
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FCLD

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Institutional Holders (2026 Q1)

23 + investors

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

QUARTER:
Top 22 FCLD holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 SFI Advisors, LLC 2.52% 88,519 $2.4M
2 High Point Wealth Management, LLC 1.17% 44,567 $1.2M
3 Rooted Wealth Advisors, Inc. 0.28% 34,655 $1.1M
4 Arrowroot Family Office, LLC 0.10% 9,625 $286K
5 Gwn Securities INC. 0.08% 14,798 $401K
6 Advisory Services Network, LLC 0.04% 123,902 $3.4M
7 Kestra Advisory Services, LLC 0.00% 21,679 $588K
8 Commonwealth Equity Services, LLC 0.00% 41,377 $1.1M
9 Osaic Holdings, INC. 0.00% 29,715 $806K
10 Sunbelt Securities, Inc. 0.00% 357 $10K
11 Stifel Financial Corp 0.00% 19,250 $522K
12 Citadel Advisors LLC 0.00% 56,379 $1.5M
13 TD Waterhouse Canada Inc. 0.00% 2,500 $69K
14 LPL Financial LLC 0.00% 10,230 $278K
15 Jane Street Group, LLC 0.00% 17,390 $472K
16 Fmr LLC 0.00% 6,530 $177K
17 Morgan Stanley 0.00% 5,169 $140K
18 Lloyd Advisory Services, LLC. 0.00% 1 —
19 Kingdom Financial Group LLC. 0.00% 1 —
20 Allworth Financial LP 0.00% 18 —
21 BlackRock, Inc. 0.00% 1,390 $38K
22 PNC Financial Services Group, INC. 0.00% 5 —
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 (FCLD)

What does the Smart Money Trend signal show for FCLD?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added FCLD 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 FCLD?

Heavy selling pressure — only 33% buying: Last quarter: 14 funds sold vs only 7 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.

What is the fund quality score for FCLD holders?

Smaller funds dominant — 18% AUM from top-100: 6 of 23 holders rank in the top 100 by AUM, but together hold only 18% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held FCLD?

Mixed — 39% long-term, 43% new: Of the 23 current holders: 9 (39%) held >2 years, 4 held 1–2 years, and 10 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 (FCLD) following the 2026 Q1 hedge fund 13F filings?

As of today, FCLD has moved +12.5% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.1% for the SPY sector ETF — an outperformance of +12.4%. Since the quarter end (March 31, 2026), FCLD has gained +43.2% vs +13.7% for SPY. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to 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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