Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FELV)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +14
Streak
10Q ▲
Buyers last Q
66%

Smart Money Signals — FELV

Based on 158 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 FELV 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
158 hedge funds hold FELV 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 — +31% more funds vs a year ago

fund count last 6Q
+37 new funds entered over the past year (+31% 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 — 66% buying

93 buying47 selling
Last quarter: 93 funds were net buyers (26 opened a brand new position + 67 added to an existing one). Only 47 were sellers (35 trimmed + 12 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~26 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 25 → 22 → 31 → 26. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 34% long-term, 32% new

■ 34% conviction (2yr+) ■ 35% medium ■ 32% new
Of the 158 current holders: 53 (34%) held >2 years, 55 held 1–2 years, and 50 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.
📈

Growing discovery — still being found

19 → 25 → 22 → 31 → 26 new funds/Q
New funds entering each quarter: 25 → 22 → 31 → 26. A growing number of institutions are discovering FELV each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 34% veterans, 44% new entrants

■ 34% veterans ■ 22% 1-2yr ■ 44% new
Of 158 current holders: 54 (34%) held 2+ years, 35 held 1–2 years, 69 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 70% AUM from top-100 funds

70% from top-100 AUM funds
14 of 158 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in FELV. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — 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 — FELV

In 2026 Q1, 93 hedge funds were net buyers of FELV (26 opened a new position, 67 added to an existing one), while 47 reduced or exited (35 trimmed, 12 sold completely) — a 66% buyer ratio, indicating clear institutional accumulation. This marks 10 consecutive quarters of net institutional buying — a persistent conviction signal. 70% of total institutional value in FELV is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +14 funds (more new holders than closures). Total institutional holders: 158.

Hedge Fund Ownership: FELV

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

Market Analysis: FELV

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FELV

-- --

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

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

Signal Freshness measures how much FELV 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
FELV
+14.3%
SPY
+13.9%

FELV outperformed SPY by +0.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
FELV
+4.3%
SPY
+0.2%

Since the filing became public, FELV outperformed SPY by +4.1% .

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.

5 top-rated funds 5 high-conviction
Consensus
3.4
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: FELV
156 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 156 144 8.33%
13F Shares 25M 23M 11.2%
Total Value $853M $848M 0.56%
New Positions 25 31 -6
Increased Positions 66 65 +1
Closed Positions 13 27 -14
Reduced Positions 35 21 +14
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FELV

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Institutional Holders (2026 Q1)

156 + investors

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

QUARTER:
Top 25 FELV holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Sowa Financial Group, Inc. 11.21% 648,222 $22.6M
2 Independence Financial Advisors, LLC 10.41% 993,502 $34.7M
3 FCG Investment Co 3.28% 214,137 $7.5M
4 Marshall Investment Management, LLC 2.82% 168,479 $5.9M
5 Pathfinder Wealth Consulting, Inc. 2.65% 117,328 $4.1M
6 Weil Company, Inc. 1.90% 242,032 $8.4M
7 Processus Wealth & Capital Management, LLC 1.83% 77,406 $2.7M
8 Investmark Advisory Group LLC 1.38% 92,544 $3.2M
9 Advisory Resource Group 1.29% 214,451 $7.5M
10 Bestgate Wealth Advisors, LLC 0.68% 10,850 $379K
11 Harbor Asset Planning, Inc. 0.60% 20,595 $719K
12 Vestia Personal Wealth Advisors 0.55% 33,713 $1.2M
13 BG Investment Services, LLC 0.52% 17,948 $627K
14 Alchemi Wealth, LLC 0.36% 18,575 $648K
15 Roxbury Financial LLC 0.35% 11,004 $384K
16 Evansbrook LLC 0.34% 14,608 $510K
17 Investment Advisory Group, LLC 0.32% 35,782 $1.2M
18 North Capital, Inc. 0.26% 8,850 $302K
19 PKS Advisory Services, LLC 0.23% 28,281 $988K
20 FMA Wealth Management, LLC 0.16% 7,052 $246K
21 Dynamic Financial Group 0.16% 5,731 $200K
22 J.W. Cole Advisors, INC. 0.16% 138,046 $4.8M
23 Foronjy Financial LLC 0.12% 8,528 $298K
24 Summit Wealth Group LLC / Co 0.12% 31,362 $1.1M
25 Mark Sheptoff Financial Planning, LLC 0.11% 5,684 $217K
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 (FELV)

What does the Smart Money Trend signal show for FELV?

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

More buyers than sellers — 66% buying: Last quarter: 93 funds were net buyers (26 opened a brand new position + 67 added to an existing one). Only 47 were sellers (35 trimmed + 12 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FELV holders?

Elite ownership — 70% AUM from top-100 funds: 14 of 158 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in FELV. 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 FELV?

Mixed — 34% long-term, 32% new: Of the 158 current holders: 53 (34%) held >2 years, 55 held 1–2 years, and 50 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.

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

As of today, FELV has moved +4.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of +4.1%. Since the quarter end (March 31, 2026), FELV has gained +14.3% 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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