Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FELG)

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

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +31
Streak
11Q ▲
Buyers last Q
70%

Smart Money Signals — FELG

Based on 249 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 11 quarters in a row

last 6Q
For 11 consecutive quarters, more hedge funds added FELG 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
249 hedge funds hold FELG 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 — +46% more funds vs a year ago

fund count last 6Q
+78 new funds entered over the past year (+46% 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 — 70% buying

157 buying66 selling
Last quarter: 157 funds were net buyers (45 opened a brand new position + 112 added to an existing one). Only 66 were sellers (52 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+8 vs last Q)

new funds entering per quarter
Funds opening a new FELG position: 30 → 40 → 37 → 45. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 27% long-term, 36% new

27% conviction (2yr+) 38% medium 36% new
Of the 249 current holders: 66 (27%) held >2 years, 94 held 1–2 years, and 89 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.
💰

Value +30% but shares only +11% — price-driven

Value
+30%
Shares
+11%
Last quarter: the total dollar value of institutional holdings rose +30%, but actual share count only changed +11%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈

Growing discovery — still being found

40 → 30 → 40 → 37 → 45 new funds/Q
New funds entering each quarter: 30 → 40 → 37 → 45. A growing number of institutions are discovering FELG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 25% veterans, 49% new entrants

25% veterans 26% 1-2yr 49% new
Of 249 current holders: 62 (25%) held 2+ years, 65 held 1–2 years, 122 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.

Strong quality — 36% AUM from major funds

36% from top-100 AUM funds
21 of 249 holders rank in the top 100 by AUM, accounting for 36% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — 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 — FELG

In 2026 Q2, 157 hedge funds were net buyers of FELG (45 opened a new position, 112 added to an existing one), while 66 reduced or exited (52 trimmed, 14 sold completely) — a 70% buyer ratio, indicating clear institutional accumulation. This marks 11 consecutive quarters of net institutional buying — a persistent conviction signal. 36% of total institutional value in FELG is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +31 funds (more new holders than closures). Total institutional holders: 249.

Hedge Fund Ownership: FELG

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

Market Analysis: FELG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FELG

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

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Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

3 top-rated funds 8 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: FELG
247 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 247 218 13.3%
13F Shares 60M 55M 10.65%
Total Value $2.60B $2.01B 29.41%
New Positions 44 37 +7
Increased Positions 112 85 +27
Closed Positions 15 30 -15
Reduced Positions 52 62 -10
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FELG

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Institutional Holders (2026 Q2)

247 + investors

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

QUARTER:
Top 25 FELG holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Independence Financial Advisors, LLC 15.21% 1,340,600 $58.7M
2 Spectrum Investment Advisors, Inc. 11.40% 637,144 $27.9M
3 46 Peaks LLC 9.66% 351,215 $15.4M
4 Prepared Retirement Institute LLC 7.16% 384,328 $16.8M
5 Northwest Wealth Advisors, LLC 5.24% 208,418 $9.1M
6 Cannon Wealth Management Services, LLC 4.67% 195,102 $8.5M
7 Goodman Advisory Group, LLC 4.61% 458,314 $20.1M
8 Pathfinder Wealth Consulting, Inc. 2.85% 117,407 $4.4M
9 Vantagepoint Investment Advisers LLC 2.83% 8,634,000 $377.7M
10 IAG Wealth Partners, LLC 2.74% 631,926 $27.6M
11 Sentinel Pension Advisors, LLC 2.70% 481,348 $20.6M
12 MLG Wealth Management DBA Pine Grove Financial Group 1.95% 387,709 $16.2M
13 Flagship Wealth Advisors, LLC 1.69% 172,119 $7.5M
14 McGlone Suttner Wealth Management, Inc. 1.55% 302,902 $13.3M
15 Investmark Advisory Group LLC 1.45% 87,414 $3.8M
16 Advisory Resource Group 1.18% 179,319 $7.8M
17 Sugar Maple Asset Management, LLC 1.10% 38,891 $1.7M
18 Infinity Wealth Counsel, LLC 1.09% 30,925 $1.4M
19 Rolek Wealth Management LLC 0.85% 34,669 $1.5M
20 InTrack Investment Management Inc 0.83% 38,406 $1.7M
21 Silverlake Wealth Management LLC 0.79% 94,950 $4.2M
22 TrustWell Financial Advisors, LLC 0.77% 20,733 $907K
23 Nova Wealth Management, Inc. 0.74% 30,566 $1.3M
24 Hicks Capital Management LLC 0.72% 19,973 $874K
25 Baron Wealth Management LLC 0.66% 57,851 $2.5M
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 (FELG)

What does the Smart Money Trend signal show for FELG?

Buying streak — 11 quarters in a row: For 11 consecutive quarters, more hedge funds added FELG 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 FELG?

More buyers than sellers — 70% buying: Last quarter: 157 funds were net buyers (45 opened a brand new position + 112 added to an existing one). Only 66 were sellers (52 trimmed + 14 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FELG holders?

Strong quality — 36% AUM from major funds: 21 of 249 holders rank in the top 100 by AUM, accounting for 36% 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 FELG?

Mixed — 27% long-term, 36% new: Of the 249 current holders: 66 (27%) held >2 years, 94 held 1–2 years, and 89 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.

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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