Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FCPI)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -4
Streak
1Q ▼
Buyers last Q
47%

Smart Money Signals — FCPI

Based on 51 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their FCPI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 93% of 3.0Y peak

93% of all-time peak
51 funds currently hold this stock — 93% of the 3.0-year high of 55 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶

Steady growth — +19% more funds vs a year ago

fund count last 6Q
+8 new funds entered over the past year (+19% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟠

More sellers than buyers — 47% buying

24 buying27 selling
Last quarter: 27 funds reduced or exited vs 24 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~6 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 13 → 11 → 10 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

41% of holders stayed for 2+ years

■ 41% conviction (2yr+) ■ 35% medium ■ 24% new
21 out of 51 hedge funds have held FCPI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📊

Peak discovery — momentum slowing

3 → 13 → 11 → 10 → 6 new funds/Q
New funds entering each quarter: 13 → 11 → 10 → 6. FCPI is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Deep conviction — 43% of holders stayed 2+ years

■ 43% veterans ■ 24% 1-2yr ■ 33% new
Of 51 current holders: 22 (43%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅

Strong quality — 38% AUM from major funds

38% from top-100 AUM funds
9 of 51 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.6
out of 10
Low Exit Risk
Exit risk score 3.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

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 — FCPI

In 2026 Q1, 24 hedge funds were net buyers of FCPI (6 opened a new position, 18 added to an existing one), while 27 reduced or exited (17 trimmed, 10 sold completely) — a 47% buyer ratio, indicating roughly balanced activity. 38% of total institutional value in FCPI is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -4 funds (more exits than new entries). Total institutional holders: 51.

Hedge Fund Ownership: FCPI

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

Market Analysis: FCPI

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FCPI

-- --

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

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

Signal Freshness measures how much FCPI 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 · 79d ago
FCPI
+9.8%
SPY
+13.9%

FCPI outperformed SPY by -4.1% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
FCPI
+0.7%
SPY
+0.2%

Since the filing became public, FCPI 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.

3 top-rated funds 0 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
0.2
/ 10
conviction
Hedge Fund Positioning: FCPI
51 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 51 55 -7.27%
13F Shares 1000K 3M -66.75%
Total Value $47M $208M -77.57%
New Positions 6 10 -4
Increased Positions 18 20 -2
Closed Positions 10 8 +2
Reduced Positions 17 12 +5
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FCPI

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

51 + investors

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

QUARTER:
Top 25 FCPI holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Wealthgarden F.S. LLC 0.36% 10,821 $532K
2 Global Assets Advisory, LLC 0.29% 35,546 $1.0M
3 Golden State Wealth Management, LLC 0.08% 15,107 $743K
4 Sanctuary Advisors, LLC 0.05% 179,317 $8.8M
5 NFSG Corp 0.05% 5,845 $287K
6 Signature Equity Partners, LLC 0.05% 1,734 $85K
7 XML Financial, LLC 0.02% 5,097 $251K
8 Private Trust Co NA 0.02% 4,500 $221K
9 Cornerstone Wealth Group, LLC 0.01% 4,082 $213K
10 Gts Securities LLC 0.01% 7,328 $360K
11 Wealth Enhancement Advisory Services, LLC 0.01% 111,101 $5.5M
12 Compound Planning, Inc. 0.01% 6,835 $336K
13 Atria Investments, Inc 0.01% 18,440 $907K
14 Sunrise Financial Services, LLC 0.01% 250 $12K
15 Archer Investment Corp 0.01% 805 $40K
16 Triumph Capital Management 0.00% 335 $16K
17 IFP Advisors, Inc 0.00% 3,082 $152K
18 Commonwealth Equity Services, LLC 0.00% 40,126 $2.0M
19 Harbour Investments, INC. 0.00% 2,990 $147K
20 Thurston, Springer, Miller, Herd & Titak, INC. 0.00% 101 $5K
21 Osaic Holdings, INC. 0.00% 27,671 $1.4M
22 LPL Financial LLC 0.00% 137,768 $6.8M
23 Integrated Wealth Concepts LLC 0.00% 4,365 $215K
24 Mercer Global Advisors Inc /Adv 0.00% 20,600 $1.0M
25 Rockefeller Capital Management L.P. 0.00% 13,949 $686K
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 (FCPI)

What does the Smart Money Trend signal show for FCPI?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FCPI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for FCPI?

More sellers than buyers — 47% buying: Last quarter: 27 funds reduced or exited vs 24 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for FCPI holders?

Strong quality — 38% AUM from major funds: 9 of 51 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held FCPI?

41% of holders stayed for 2+ years: 21 out of 51 hedge funds have held FCPI for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

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

As of today, FCPI has moved +0.7% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +0.5%. Since the quarter end (March 31, 2026), FCPI has gained +9.8% vs +13.9% 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.

Full history →