Fidelity Covington Trust (FENY) Hedge Fund Ownership (Q2 2026)

Fidelity Covington Trust (FENY)

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

Smart Money Signals — FENY

Based on 248 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds reduced or closed their FENY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

🏔️

At the ownership peak (95% of max)

95% of all-time peak

248 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.

🚀

Fast accumulation — +27% more funds vs a year ago

fund count last 6Q

+52 new funds entered over the past year (+27% 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 — 52% buying

131 buying119 selling

Last quarter: 131 funds bought or added vs 119 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.

⚠️

Fewer new buyers each quarter (-31 vs last Q)

new funds entering per quarter

Funds opening this position for the first time: 32 → 34 → 68 → 37. 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.

🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 21% medium ■ 23% new

138 out of 248 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.

🚀

Acceleration phase — new buyers rushing in

20 → 32 → 34 → 68 → 37 new funds/Q

New funds entering each quarter: 32 → 34 → 68 → 37. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.

🏛️

Veteran-anchored — 59% veterans vs 24% newcomers

■ 59% veterans ■ 16% 1-2yr ■ 24% new

Entry-cohort mix of 249 holders: 148 (59%) are 2+ year veterans, 40 entered 1–2 years ago, and 61 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.

🏆

Elite ownership — 42% AUM from top-100 funds

42% from top-100 AUM funds

28 of 247 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FENY. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

3.8

out of 10

Low Exit Risk

Exit risk score 3.8/10 — 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 (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	245	260	-5.77%
13F Shares	20M	22M	-11.2%
Total Value	$582M	$755M	-22.9%
New Positions	36	68	-32
Increased Positions	93	87	+6
Closed Positions	50	26	+24
Reduced Positions	70	61	+9
Total Calls	1	2	-50.0%
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

245

260

-5.77%

13F Shares

20M

22M

-11.2%

Total Value

$582M

$755M

-22.9%

New Positions

-32

Increased Positions

Closed Positions

+24

Reduced Positions

Total Calls

-50.0%

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q2)

245 + investors

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

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 FENY holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Cutler Capital Management, LLC	2.05%	267,547	$7.9M
2	Maxele Advisors, LLC	1.93%	93,347	$2.8M
3	Eley Financial Management, Inc	1.55%	162,406	$4.8M
4	Yoder Wealth Management, Inc.	1.17%	101,016	$3.0M
5	SageGuard Financial Group, LLC	1.16%	279,901	$8.3M
6	Maltin Wealth Management, Inc.	1.12%	113,515	$3.4M
7	Trail Ridge Investment Advisors, LLC	1.10%	88,197	$2.6M
8	Aspetuck Financial Management LLC	1.06%	60,890	$1.8M
9	Wealth Quarterback LLC	0.91%	100,204	$3.0M
10	Bravias Capital Group, LLC	0.91%	52,061	$1.5M
11	Elevation Wealth Management LLC	0.59%	26,664	$788K
12	KDK Private Wealth Management, LLC	0.57%	23,372	$691K
13	AssuredPartners Investment Advisors, LLC	0.54%	188,477	$5.6M
14	Bank of Marin	0.51%	24,898	$736K
15	Roxbury Financial LLC	0.51%	21,900	$647K
16	Financial Partners Group, Inc	0.44%	145,120	$4.3M
17	Financial Perspectives, Inc	0.41%	56,604	$1.7M
18	Financial Freedom, LLC	0.39%	28,757	$850K
19	Glass Jacobson Investment Advisors llc	0.39%	41,964	$1.2M
20	Jacobs Equity LLC	0.38%	18,389	$544K
21	Penobscot Wealth Management	0.36%	45,112	$1.3M
22	Lynch & Associates/In	0.32%	61,490	$1.8M
23	Castleview Partners, LLC	0.29%	22,323	$660K
24	Cedarwood Wealth LLC	0.26%	11,771	$348K
25	Wilkins Miller Wealth Management, LLC	0.26%	15,835	$468K

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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FENY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for FENY?

Slight buying edge — 52% buying: Last quarter: 131 funds bought or added vs 119 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 FENY holders?

Elite ownership — 42% AUM from top-100 funds: 28 of 247 holders are among the 100 largest funds by AUM, controlling 42% of total institutional value in FENY. 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 FENY?

56% of holders stayed for 2+ years: 138 out of 248 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

Selling streak — 1 quarter in a row

At the ownership peak (95% of max)

Fast accumulation — +27% more funds vs a year ago

Slight buying edge — 52% buying

Fewer new buyers each quarter (-31 vs last Q)

56% of holders stayed for 2+ years

Acceleration phase — new buyers rushing in

Veteran-anchored — 59% veterans vs 24% newcomers

Elite ownership — 42% AUM from top-100 funds

Institutional Sentiment Summary — FENY

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 Q2)

Frequently Asked Questions — Fidelity Covington Trust (FENY)

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