FIDELITY COVINGTON TRUST (FENY): Hedge Fund Ownership & Smart Money Signals (Q4 2025)

FIDELITY COVINGTON TRUST (FENY)

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

Smart Money Signals — FENY

Based on 203 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q

For 2 consecutive quarters, more hedge funds added FENY 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

203 hedge funds hold FENY 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.

〰️

Stable — ownership unchanged year-over-year

fund count last 6Q

The number of hedge funds holding FENY is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.

🟠

More sellers than buyers — 49% buying

91 buying95 selling

Last quarter: 95 funds reduced or exited vs 91 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

➡️

Steady new buyers — ~31 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 29 → 18 → 30 → 31. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 23% medium ■ 17% new

121 out of 203 hedge funds have held FENY 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.

📈

Growing discovery — still being found

35 → 29 → 18 → 30 → 31 new funds/Q

New funds entering each quarter: 29 → 18 → 30 → 31. A growing number of institutions are discovering FENY each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🏛️

Deep conviction — 59% of holders stayed 2+ years

■ 59% veterans ■ 16% 1-2yr ■ 25% new

Of 204 current holders: 121 (59%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.

✅

Strong quality — 20% AUM from major funds

20% from top-100 AUM funds

17 of 203 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

3.5

out of 10

Low Exit Risk

Exit risk score 3.5/10 — 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.

Metric	All 13F Filers (2025 Q4)	Prior (2025 Q3)	Change
Funds Holding	204	199	2.51%
13F Shares	14M	17M	-17.32%
Total Value	$384M	$418M	-8.15%
New Positions	31	30	+1
Increased Positions	61	61	-
Closed Positions	26	16	+10
Reduced Positions	70	70	-
Total Calls	1	1	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2025 Q4)

Prior (2025 Q3)

Change

Funds Holding

204

199

2.51%

13F Shares

14M

17M

-17.32%

Total Value

$384M

$418M

-8.15%

New Positions

Increased Positions

Closed Positions

+10

Reduced Positions

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

204 + investors

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

FILTER:All New Added To Reduced No Change | Overweight >5% | SHOW: Active managers + show index funds

Top 25 institutional holders of FENY — 2025 Q4 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Independence Financial Advisors, LLC	3.24%	317,691	$10.8M
2	VICUS CAPITAL	2.01%	803,382	$27.3M
3	Yoder Wealth Management, Inc.	1.75%	112,557	$3.8M
4	Maltin Wealth Management, Inc.	1.62%	124,946	$4.3M
5	Wealth Quarterback LLC	1.15%	85,709	$2.9M
6	Bravias Capital Group, LLC	1.13%	50,922	$1.7M
7	SageGuard Financial Group, LLC	0.79%	150,796	$5.1M
8	KDK Private Wealth Management, LLC	0.74%	23,857	$812K
9	Roxbury Financial LLC	0.70%	22,947	$781K
10	AssuredPartners Investment Advisors, LLC	0.66%	182,693	$6.1M
11	Financial Partners Group, Inc	0.63%	154,213	$5.2M
12	Glass Jacobson Investment Advisors llc	0.49%	41,497	$1.4M
13	Financial Freedom, LLC	0.48%	28,556	$971K
14	PENOBSCOT WEALTH MANAGEMENT	0.42%	41,466	$1.4M
15	Q3 Asset Management	0.40%	48,753	$2K
16	Blue Capital, Inc.	0.39%	17,377	$591K
17	LYNCH & ASSOCIATES/IN	0.38%	59,179	$2.0M
18	Wilkins Miller Wealth Management, LLC	0.33%	15,806	$538K
19	CAP Partners, LLC	0.32%	16,787	$571K
20	Fee-Only Financial Planning, L.C.	0.19%	9,290	$316K
21	INSTRUMENTAL WEALTH, LLC	0.17%	8,026	$273K
22	SWEENEY & MICHEL, LLC	0.16%	16,921	$540K
23	SHEETS SMITH WEALTH MANAGEMENT	0.15%	38,847	$1.3M
24	Freedom Investment Management, Inc.	0.13%	13,230	$450K
25	Stratos Wealth Advisors, LLC	0.11%	50,846	$1.7M

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 (FENY)

What does the Smart Money Trend signal show for FENY?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added FENY 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 FENY?

More sellers than buyers — 49% buying: Last quarter: 95 funds reduced or exited vs 91 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for FENY holders?

Strong quality — 20% AUM from major funds: 17 of 203 holders rank in the top 100 by AUM, accounting for 20% 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 FENY?

60% of holders stayed for 2+ years: 121 out of 203 hedge funds have held FENY 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.

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.

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FIDELITY COVINGTON TRUST (FENY)

Smart Money Signals — FENY

Buying streak — 2 quarters in a row

At the ownership peak (100% of max)

Stable — ownership unchanged year-over-year

More sellers than buyers — 49% buying

Steady new buyers — ~31 new funds per quarter

60% of holders stayed for 2+ years

Growing discovery — still being found

Deep conviction — 59% of holders stayed 2+ years

Strong quality — 20% AUM from major funds

Hedge Fund Ownership: FENY

Market Analysis: FENY

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: FENY

Hedge Fund Positioning: FENY

Statistics: FENY

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — FIDELITY COVINGTON TRUST (FENY)

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