Fidelity Covington Trust (FDEM): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

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

As of today, FDEM has moved +4.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +3.8%. Since the quarter end (March 31, 2026), FDEM gained -56.5% 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.

Fidelity Covington Trust (FDEM)

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

Smart Money Signals — FDEM

Based on 76 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 4 quarters in a row

last 6Q

For 4 consecutive quarters, more hedge funds added FDEM 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

76 hedge funds hold FDEM 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 — +100% more funds vs a year ago

fund count last 6Q

+38 new funds entered over the past year (+100% 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 — 68% buying

54 buying25 selling

Last quarter: 54 funds were net buyers (14 opened a brand new position + 40 added to an existing one). Only 25 were sellers (17 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.

⚠️

Fewer new buyers each quarter (-12 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 14 → 11 → 26 → 14. 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.

🔄

Mostly new holders — 47% entered in last year

■ 18% conviction (2yr+) ■ 34% medium ■ 47% new

Only 14 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

📈

Growing discovery — still being found

6 → 14 → 11 → 26 → 14 new funds/Q

New funds entering each quarter: 14 → 11 → 26 → 14. A growing number of institutions are discovering FDEM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

📊

Mixed cohorts — 26% veterans, 51% new entrants

■ 26% veterans ■ 22% 1-2yr ■ 51% new

Of 76 current holders: 20 (26%) held 2+ years, 17 held 1–2 years, 39 (51%) 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

11 of 75 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.

5.5

out of 10

Moderate Exit Risk

Exit risk score 5.5/10 — 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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	76	70	8.57%
13F Shares	8M	7M	3.76%
Total Value	$235M	$230M	2.49%
New Positions	14	26	-12
Increased Positions	40	31	+9
Closed Positions	8	6	+2
Reduced Positions	17	10	+7
Total Calls	0	0	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

8.57%

13F Shares

3.76%

Total Value

$235M

$230M

2.49%

New Positions

-12

Increased Positions

Closed Positions

Reduced Positions

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

76 + investors

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

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 FDEM holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Storgate, LLC	7.96%	321,309	$10.1M
2	Clarity Retirement & Wealth, LLC	6.24%	244,935	$7.7M
3	Salus Financial Advisors, LLC	4.73%	256,973	$8.1M
4	S Harris Financial Group, LLC	2.53%	87,986	$2.8M
5	Payne Capital LLC	1.87%	64,361	$2.0M
6	Mayfair Advisory Group, LLC	1.61%	145,666	$4.6M
7	McAdam, LLC	1.19%	834,445	$26.4M
8	New Insight Wealth Advisors	0.81%	71,800	$2.3M
9	REDW Wealth LLC	0.70%	55,512	$1.8M
10	Cassilly Financial Group LLC	0.68%	24,854	$785K
11	BG Investment Services, LLC	0.64%	24,525	$774K
12	Advyzon Investment Management, LLC	0.58%	204,203	$6.4M
13	Sunbelt Securities, Inc.	0.39%	198,066	$6.3M
14	Investmark Advisory Group LLC	0.38%	28,017	$885K
15	Dahring \| Cusmano LLC	0.31%	15,713	$496K
16	Forthright Family Wealth Advisory LLC	0.30%	18,164	$450K
17	Whipplewood Advisors, LLC	0.24%	14,390	$454K
18	Archer Investment Management, LLC	0.18%	13,664	$432K
19	Smartleaf Asset Management LLC	0.18%	160,405	$4.9M
20	Consultiva Wealth Management, CORP.	0.11%	1,230	$39K
21	Arkadios Wealth Advisors	0.11%	207,872	$6.6M
22	Smith, Moore & CO.	0.07%	32,125	$1.0M
23	Old Mission Capital LLC	0.07%	132,233	$4.2M
24	Intergy Private Wealth, LLC	0.07%	7,104	$224K
25	Stratos Wealth Advisors, LLC	0.06%	30,484	$963K

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 (FDEM)

What does the Smart Money Trend signal show for FDEM?

Buying streak — 4 quarters in a row: For 4 consecutive quarters, more hedge funds added FDEM 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 FDEM?

More buyers than sellers — 68% buying: Last quarter: 54 funds were net buyers (14 opened a brand new position + 40 added to an existing one). Only 25 were sellers (17 trimmed + 8 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FDEM holders?

Smaller funds dominant — 18% AUM from top-100: 11 of 75 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 FDEM?

Mostly new holders — 47% entered in last year: Only 14 funds (18%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

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

As of today, FDEM has moved +4.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +3.8%. Since the quarter end (March 31, 2026), FDEM has gained -56.5% 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.

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Fidelity Covington Trust (FDEM)

Smart Money Signals — FDEM

Buying streak — 4 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +100% more funds vs a year ago

More buyers than sellers — 68% buying

Fewer new buyers each quarter (-12 vs last Q)

Mostly new holders — 47% entered in last year

Growing discovery — still being found

Mixed cohorts — 26% veterans, 51% new entrants

Smaller funds dominant — 18% AUM from top-100

Institutional Sentiment Summary — FDEM

Hedge Fund Ownership: FDEM

Market Analysis: FDEM

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: FDEM

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

Hedge Fund Positioning: FDEM

Statistics: FDEM

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Fidelity Covington Trust (FDEM)

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