Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FELC)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +16
Streak
10Q ▲
Buyers last Q
68%

Smart Money Signals — FELC

Based on 236 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 10 quarters in a row

last 6Q
For 10 consecutive quarters, more hedge funds added FELC 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
236 hedge funds hold FELC 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 — +55% more funds vs a year ago

fund count last 6Q
+84 new funds entered over the past year (+55% 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

150 buying70 selling
Last quarter: 150 funds were net buyers (44 opened a brand new position + 106 added to an existing one). Only 70 were sellers (42 trimmed + 28 sold completely). A clear majority buying is a strong confirmation signal.
⚠️

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

new funds entering per quarter
Funds opening this position for the first time: 34 → 35 → 53 → 44. 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 — 40% entered in last year

■ 21% conviction (2yr+) ■ 39% medium ■ 40% new
Only 50 funds (21%) 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

27 → 34 → 35 → 53 → 44 new funds/Q
New funds entering each quarter: 34 → 35 → 53 → 44. A growing number of institutions are discovering FELC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 22% veterans, 49% new entrants

■ 22% veterans ■ 28% 1-2yr ■ 49% new
Of 236 current holders: 53 (22%) held 2+ years, 67 held 1–2 years, 116 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 65% AUM from top-100 funds

65% from top-100 AUM funds
20 of 236 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in FELC. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.7
out of 10
Moderate Exit Risk
Exit risk score 4.7/10 — 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 — FELC

In 2026 Q1, 150 hedge funds were net buyers of FELC (44 opened a new position, 106 added to an existing one), while 70 reduced or exited (42 trimmed, 28 sold completely) — a 68% buyer ratio, indicating clear institutional accumulation. This marks 10 consecutive quarters of net institutional buying — a persistent conviction signal. 65% of total institutional value in FELC is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +16 funds (more new holders than closures). Total institutional holders: 236.

Hedge Fund Ownership: FELC

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

Market Analysis: FELC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FELC

-- --

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

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

Signal Freshness measures how much FELC 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
FELC
+15.7%
SPY
+13.9%

FELC outperformed SPY by +1.8% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
FELC
+1.4%
SPY
+0.2%

Since the filing became public, FELC outperformed SPY by +1.2% .

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.

6 top-rated funds 6 high-conviction
Consensus
3.7
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: FELC
235 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 235 220 6.82%
13F Shares 92M 81M 13.82%
Total Value $3.21B $3.08B 4.21%
New Positions 44 53 -9
Increased Positions 106 103 +3
Closed Positions 29 19 +10
Reduced Positions 41 33 +8
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FELC

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Financial Highlights

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Institutional Holders (2026 Q1)

235 + investors

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

QUARTER:
Top 25 FELC holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 EdgeRock Capital LLC 18.85% 1,918,682 $69.7M
2 Kfg Wealth Management, LLC 15.49% 3,304,054 $119.8M
3 Blake Schutter Theil Wealth Advisors, LLC 14.00% 473,649 $17.2M
4 Fortress Financial Group, LLC 8.45% 314,976 $11.4M
5 Fragasso Financial Advisors Inc 8.42% 3,803,351 $139.7M
6 Williams & Novak, LLC 4.84% 176,956 $6.5M
7 Clearwave Capital, LLC 4.58% 184,494 $6.7M
8 SHP Wealth Management 4.56% 1,667,985 $60.5M
9 Mascoma Wealth Management LLC 3.13% 416,910 $15.1M
10 Lincoln Capital Corp 1.98% 148,473 $5.4M
11 Flagship Wealth Advisors, LLC 1.89% 127,721 $4.4M
12 Able Wealth Management LLC 1.45% 149,507 $5.4M
13 Investmark Advisory Group LLC 1.35% 87,013 $3.2M
14 Rooted Wealth Advisors, Inc. 1.11% 106,667 $4.2M
15 Maripau Wealth Management LLC 0.84% 52,456 $1.9M
16 Element Wealth, LLC 0.80% 53,191 $1.9M
17 AAF Wealth Management, LLC 0.79% 53,392 $1.9M
18 TBH Global Asset Management, LLC 0.65% 89,300 $3.2M
19 Elevation Wealth Management LLC 0.65% 19,553 $709K
20 Broadview Financial Management, LLC 0.65% 26,129 $948K
21 Mission Financial Group, LLC 0.63% 18,858 $684K
22 Huntington National Bank 0.63% 3,139,394 $113.9M
23 Silverlake Wealth Management LLC 0.61% 80,534 $2.9M
24 Axis Wealth Partners, LLC 0.50% 25,941 $941K
25 Salus Financial Advisors, LLC 0.49% 22,993 $834K
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 (FELC)

What does the Smart Money Trend signal show for FELC?

Buying streak — 10 quarters in a row: For 10 consecutive quarters, more hedge funds added FELC 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 FELC?

More buyers than sellers — 68% buying: Last quarter: 150 funds were net buyers (44 opened a brand new position + 106 added to an existing one). Only 70 were sellers (42 trimmed + 28 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FELC holders?

Elite ownership — 65% AUM from top-100 funds: 20 of 236 holders are among the 100 largest funds by AUM, controlling 65% of total institutional value in FELC. 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 FELC?

Mostly new holders — 40% entered in last year: Only 50 funds (21%) 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 (FELC) following the 2026 Q1 hedge fund 13F filings?

As of today, FELC has moved +1.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +1.2%. Since the quarter end (March 31, 2026), FELC has gained +15.7% 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.

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