Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FELG)

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

Fetching live quote...
Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +8
Streak
10Q ▲
Buyers last Q
57%

Smart Money Signals — FELG

Based on 218 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 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
218 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 — +57% more funds vs a year ago

fund count last 6Q
+79 new funds entered over the past year (+57% 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.
🟡

Slight buying edge — 57% buying

122 buying91 selling
Last quarter: 122 funds bought or added vs 91 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.
➡️

Steady new buyers — ~37 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 39 → 30 → 40 → 37. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 36% entered in last year

24% conviction (2yr+) 40% medium 36% new
Only 53 funds (24%) 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

30 → 39 → 30 → 40 → 37 new funds/Q
New funds entering each quarter: 39 → 30 → 40 → 37. A growing number of institutions are discovering FELG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 26% veterans, 54% new entrants

26% veterans 20% 1-2yr 54% new
Of 218 current holders: 57 (26%) held 2+ years, 44 held 1–2 years, 117 (54%) 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
17 of 217 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.
4.5
out of 10
Moderate Exit Risk
Exit risk score 4.5/10 — 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.

Institutional Sentiment Summary — FELG

In 2026 Q1, 122 hedge funds were net buyers of FELG (37 opened a new position, 85 added to an existing one), while 91 reduced or exited (62 trimmed, 29 sold completely) — a 57% buyer ratio, indicating a slight buying edge. This marks 10 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: +8 funds (more new holders than closures). Total institutional holders: 218.

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

-- --

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

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

Signal Freshness measures how much FELG 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
FELG
nan%
SPY
+15.1%

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

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

Since the filing became public, FELG 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.

6 top-rated funds 7 high-conviction
Consensus
3.7
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: FELG
213 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 213 210 1.43%
13F Shares 54M 44M 23.84%
Total Value $2.00B $1.83B 9.01%
New Positions 36 40 -4
Increased Positions 82 99 -17
Closed Positions 33 13 +20
Reduced Positions 61 39 +22
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FELG

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)

213 + 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 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Independence Financial Advisors, LLC 14.33% 1,273,476 $47.7M
2 Spectrum Investment Advisors, Inc. 12.50% 670,802 $25.1M
3 Prepared Retirement Institute LLC 7.38% $15K
4 46 Peaks LLC 6.96% 254,954 $9.6M
5 Northwest Wealth Advisors, LLC 5.12% 191,167 $7.2M
6 Cannon Wealth Management Services, LLC 3.17% 124,886 $4.7M
7 Pathfinder Wealth Consulting, Inc. 2.85% 117,407 $4.4M
8 Vantagepoint Investment Advisers LLC 2.74% 8,634,000 $323.7M
9 Sentinel Pension Advisors, LLC 2.53% 456,159 $17.1M
10 IAG Wealth Partners, LLC 2.26% 540,723 $20.3M
11 Flagship Wealth Advisors, LLC 1.99% 125,041 $4.6M
12 Investmark Advisory Group LLC 1.32% 82,231 $3.1M
13 Castleview Partners, LLC 1.28% 66,793 $2.5M
14 McGlone Suttner Wealth Management, Inc. 1.28% 257,703 $9.7M
15 Nova Wealth Management, Inc. 1.25% 51,214 $1.9M
16 Infinity Wealth Counsel, LLC 0.94% 27,375 $1.0M
17 Rolek Wealth Management LLC 0.93% 34,766 $1.3M
18 InTrack Investment Management Inc 0.88% 41,008 $1.5M
19 Sugar Maple Asset Management, LLC 0.86% 37,776 $1.4M
20 TrustWell Financial Advisors, LLC 0.84% 20,733 $865K
21 Silverlake Wealth Management LLC 0.75% 95,259 $3.6M
22 Hicks Capital Management LLC 0.72% 19,271 $722K
23 Elm3 Financial Group, LLC 0.66% 20,830 $781K
24 Redwood Financial Network Corp 0.65% 26,444 $991K
25 Mml Investors Services, LLC 0.64% 6,118,699 $229.4M
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 — 10 quarters in a row: For 10 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?

Slight buying edge — 57% buying: Last quarter: 122 funds bought or added vs 91 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 FELG holders?

Strong quality — 36% AUM from major funds: 17 of 217 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?

Mostly new holders — 36% entered in last year: Only 53 funds (24%) 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 (FELG) following the 2026 Q1 hedge fund 13F filings?

As of today, FELG 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), FELG 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.

Full history →