Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FDRR)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -2
Streak
1Q ▼
Buyers last Q
53%

Smart Money Signals — FDRR

Based on 108 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 FDRR positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🏔️

At the ownership peak (98% of max)

98% of all-time peak
108 hedge funds hold FDRR 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.
📶

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

fund count last 6Q
+17 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.
🟡

Slight buying edge — 53% buying

54 buying48 selling
Last quarter: 54 funds bought or added vs 48 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️

Fewer new buyers each quarter (-9 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 9 → 13 → 21 → 12. 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.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 19% medium ■ 25% new
60 out of 108 hedge funds have held FDRR 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.
💎

Buying through price weakness — shares -1%, value -17%

Value
-17%
Shares
-1%
Last quarter: funds added -1% more shares while total portfolio value only changed -17%. 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

4 → 9 → 13 → 21 → 12 new funds/Q
New funds entering each quarter: 9 → 13 → 21 → 12. A growing number of institutions are discovering FDRR each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 58% veterans vs 26% newcomers

■ 58% veterans ■ 17% 1-2yr ■ 26% new
Entry-cohort mix of 109 holders: 63 (58%) are 2+ year veterans, 18 entered 1–2 years ago, and 28 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 28% AUM from major funds

28% from top-100 AUM funds
14 of 108 holders rank in the top 100 by AUM, accounting for 28% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — 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 — FDRR

In 2026 Q1, 54 hedge funds were net buyers of FDRR (12 opened a new position, 42 added to an existing one), while 48 reduced or exited (34 trimmed, 14 sold completely) — a 53% buyer ratio, indicating a slight buying edge. 28% of total institutional value in FDRR is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -2 funds (more exits than new entries). Total institutional holders: 108.

Hedge Fund Ownership: FDRR

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

Market Analysis: FDRR

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FDRR

-- --

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

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

Signal Freshness measures how much FDRR 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 · 81d ago
FDRR
nan%
SPY
+15.1%

FDRR outperformed SPY by nan% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 36d ago
FDRR
nan%
SPY
+1.3%

Since the filing became public, FDRR outperformed SPY by nan% .

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 2 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
2.3
/ 10
conviction
Hedge Fund Positioning: FDRR
106 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 106 110 -3.64%
13F Shares 4M 4M -2.08%
Total Value $201M $246M -18.04%
New Positions 11 21 -10
Increased Positions 41 38 +3
Closed Positions 15 5 +10
Reduced Positions 33 29 +4
Total Calls 0 0 -
Total Puts 1 0 100%
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FDRR

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Valuation Measures Data as of: --

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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) --
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Income Statement & Cash Flow
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Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

106 + investors

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

QUARTER:
Top 25 FDRR holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Charter Capital Management, LLC\DE 4.00% 135,730 $8.0M
2 Geneva Partners, LLC 2.37% 83,902 $4.9M
3 Sugar Maple Asset Management, LLC 1.91% 53,547 $3.1M
4 Ameritas Advisory Services, LLC 1.64% 717,397 $42.2M
5 Midwest Financial Network, LLC 0.59% 12,688 $746K
6 Flagship Wealth Advisors, LLC 0.54% 22,966 $1.2M
7 Cdm Financial Counseling Services, INC. 0.44% 7,850 $462K
8 RCS Financial Planning, LLC 0.42% 13,782 $810K
9 Stonebridge Financial Planning Group, LLC 0.38% 17,694 $1.0M
10 Brown, Lisle/Cummings, INC. 0.16% 10,750 $632K
11 MFA Wealth Services 0.15% 3,780 $222K
12 KERR FINANCIAL PLANNING Corp 0.14% 1,858 $116K
13 Herold Advisors, Inc. 0.14% 11,070 $651K
14 PKS Advisory Services, LLC 0.13% 9,526 $560K
15 Creative Financial Designs Inc /Adv 0.12% 32,452 $1.9M
16 ADG Wealth Management Group, LLC 0.12% 2,835 $167K
17 EP Wealth Advisors, LLC 0.09% 301,680 $17.7M
18 Glass Jacobson Investment Advisors llc 0.09% 4,244 $250K
19 ShoreHaven Wealth Partners, LLC 0.08% 3,795 $223K
20 Snider Financial Group 0.08% 4,471 $263K
21 Beck Bode, LLC 0.08% 7,724 $454K
22 PFG Advisors 0.07% 24,039 $1.4M
23 Monetary Solutions, Ltd 0.07% 1,191 $70K
24 LJI Wealth Management, LLC 0.06% 6,678 $393K
25 Mascoma Wealth Management LLC 0.05% 4,451 $262K
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 (FDRR)

What does the Smart Money Trend signal show for FDRR?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FDRR 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 FDRR?

Slight buying edge — 53% buying: Last quarter: 54 funds bought or added vs 48 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for FDRR holders?

Strong quality — 28% AUM from major funds: 14 of 108 holders rank in the top 100 by AUM, accounting for 28% 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 FDRR?

56% of holders stayed for 2+ years: 60 out of 108 hedge funds have held FDRR 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 (FDRR) following the 2026 Q1 hedge fund 13F filings?

As of today, FDRR has moved nan% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.3% for the SPY sector ETF — an outperformance of nan%. Since the quarter end (March 31, 2026), FDRR has gained nan% vs +15.1% 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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