Fidelity Covington Trust (FFSM): Hedge Fund Ownership & Smart Money Signals (Q1 2026)

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

As of today, FFSM has moved +5.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.1% for the SPY sector ETF — an outperformance of +4.5%. Since the quarter end (March 31, 2026), FFSM gained +16.6% vs +14.9% 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.

Fidelity Covington Trust (FFSM)

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

Smart Money Signals — FFSM

Based on 72 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 8 quarters in a row

last 6Q

For 8 consecutive quarters, more hedge funds added FFSM 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

72 hedge funds hold FFSM 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 — +95% more funds vs a year ago

fund count last 6Q

+35 new funds entered over the past year (+95% 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 — 76% buying

54 buying17 selling

Last quarter: 54 funds were net buyers (18 opened a brand new position + 36 added to an existing one). Only 17 were sellers (10 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.

➡️

Steady new buyers — ~18 new funds per quarter

new funds entering per quarter

Funds opening this position for the first time: 17 → 11 → 17 → 18. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.

🔄

Mostly new holders — 50% entered in last year

■ 15% conviction (2yr+) ■ 35% medium ■ 50% new

Only 11 funds (15%) 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

13 → 17 → 11 → 17 → 18 new funds/Q

New funds entering each quarter: 17 → 11 → 17 → 18. A growing number of institutions are discovering FFSM each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.

🌱

Early stage — 65% of holders entered in last year

■ 14% veterans ■ 21% 1-2yr ■ 65% new

Of 72 current holders: 47 (65%) entered in the past year, only 10 (14%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.

🏆

Elite ownership — 83% AUM from top-100 funds

83% from top-100 AUM funds

8 of 72 holders are among the 100 largest funds by AUM, controlling 83% of total institutional value in FFSM. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

5.3

out of 10

Moderate Exit Risk

Exit risk score 5.3/10 — 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.

Metric	All 13F Filers (2026 Q1)	Prior (2025 Q4)	Change
Funds Holding	72	61	18.03%
13F Shares	31M	28M	10.84%
Total Value	$998M	$877M	13.75%
New Positions	18	17	+1
Increased Positions	36	27	+9
Closed Positions	7	4	+3
Reduced Positions	10	12	-2
Total Calls	0	0	-
Total Puts	0	0	-
PUT/CALL Ratio	0.0	0.0	Bullish

Metric

All 13F Filers (2026 Q1)

Prior (2025 Q4)

Change

Funds Holding

18.03%

13F Shares

31M

28M

10.84%

Total Value

$998M

$877M

13.75%

New Positions

Increased Positions

Closed Positions

Reduced Positions

-2

Total Calls

Total Puts

PUT/CALL Ratio

0.0

Bullish

Institutional Holders (2026 Q1)

72 + investors

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

QUARTER:

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

Top 25 FFSM holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	KOM Wealth Management Group, LLC	9.05%	415,240	$13.3M
2	Keenan, LLC	7.80%	290,052	$9.3M
3	Gaddis Premier Wealth Advisors LLC	5.06%	214,864	$6.9M
4	Clarity Retirement & Wealth, LLC	2.83%	110,020	$3.5M
5	Evernest Financial Advisors, LLC	1.99%	272,082	$9.6M
6	MFA Wealth Services	1.58%	74,752	$2.4M
7	SK Wealth Management, LLC	1.57%	174,090	$5.7M
8	Dahring \| Cusmano LLC	1.10%	55,908	$1.8M
9	Novem Group	0.75%	205,593	$6.6M
10	Buska Wealth Management, LLC	0.58%	45,301	$1.4M
11	RFG Advisory, LLC	0.49%	843,183	$26.9M
12	BAM Wealth Management, LLC	0.43%	17,831	$570K
13	Hicks Capital Management LLC	0.33%	10,348	$331K
14	Sax Wealth Advisors, LLC	0.29%	192,881	$5.9M
15	Advyzon Investment Management, LLC	0.26%	90,566	$2.9M
16	Per Stirling Capital Management, LLC.	0.20%	57,805	$1.8M
17	Pines Wealth Management, LLC	0.20%	19,682	$629K
18	Bay Capital Advisors, LLC	0.19%	9,761	$312K
19	Wealth Quarterback LLC	0.17%	13,244	$423K
20	Retirement Planning Group, LLC	0.10%	103,645	$3.3M
21	Eaton Financial Holdings Company, LLC	0.08%	7,617	$243K
22	Cutler Capital Management, LLC	0.07%	8,125	$260K
23	Commonwealth Equity Services, LLC	0.05%	1,212,494	$38.7M
24	MAI Capital Management	0.05%	300,014	$9.6M
25	Bulwark Capital Corp	0.05%	2,535	$81K

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 (FFSM)

What does the Smart Money Trend signal show for FFSM?

Buying streak — 8 quarters in a row: For 8 consecutive quarters, more hedge funds added FFSM 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 FFSM?

More buyers than sellers — 76% buying: Last quarter: 54 funds were net buyers (18 opened a brand new position + 36 added to an existing one). Only 17 were sellers (10 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FFSM holders?

Elite ownership — 83% AUM from top-100 funds: 8 of 72 holders are among the 100 largest funds by AUM, controlling 83% of total institutional value in FFSM. 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 FFSM?

Mostly new holders — 50% entered in last year: Only 11 funds (15%) 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 (FFSM) following the 2026 Q1 hedge fund 13F filings?

As of today, FFSM has moved +5.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.1% for the SPY sector ETF — an outperformance of +4.5%. Since the quarter end (March 31, 2026), FFSM has gained +16.6% vs +14.9% 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.

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	--

Profit Margin	--
Return on Assets (ttm)	--
Return on Equity (ttm)	--

Revenue (ttm)	--
Net Income Avi to Common (ttm)	--
Diluted EPS (ttm)	--
Total Cash (mrq)	--
Total Debt/Equity (mrq)	--
Levered Free Cash Flow (ttm)	--

Fidelity Covington Trust (FFSM)

Smart Money Signals — FFSM

Buying streak — 8 quarters in a row

At the ownership peak (100% of max)

Fast accumulation — +95% more funds vs a year ago

More buyers than sellers — 76% buying

Steady new buyers — ~18 new funds per quarter

Mostly new holders — 50% entered in last year

Growing discovery — still being found

Early stage — 65% of holders entered in last year

Elite ownership — 83% AUM from top-100 funds

Institutional Sentiment Summary — FFSM

Hedge Fund Ownership: FFSM

Market Analysis: FFSM

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: FFSM

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

Hedge Fund Positioning: FFSM

Statistics: FFSM

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q1)

Frequently Asked Questions — Fidelity Covington Trust (FFSM)

Welcome to 13Foresight!