Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FLRG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
2Q ▼
Buyers last Q
52%

Smart Money Signals — FLRG

Based on 43 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their FLRG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 93% of 3.0Y peak

93% of all-time peak
43 funds currently hold this stock — 93% of the 3.0-year high of 46 funds (reached 2025 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
🚀

Fast accumulation — +48% more funds vs a year ago

fund count last 6Q
+14 new funds entered over the past year (+48% 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

23 buying21 selling
Last quarter: 23 funds bought or added vs 21 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 — ~7 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 11 → 13 → 4 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄

Mostly new holders — 35% entered in last year

■ 21% conviction (2yr+) ■ 44% medium ■ 35% new
Only 9 funds (21%) 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.
⚠️

Saturation — most institutions already know this story

10 → 11 → 13 → 4 → 7 new funds/Q
New funds entering each quarter: 11 → 13 → 4 → 7. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊

Mixed cohorts — 26% veterans, 49% new entrants

■ 26% veterans ■ 26% 1-2yr ■ 49% new
Of 43 current holders: 11 (26%) held 2+ years, 11 held 1–2 years, 21 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋

Smaller funds dominant — 2% AUM from top-100

2% from top-100 AUM funds
9 of 43 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.9
out of 10
Low Exit Risk
Exit risk score 3.9/10 — 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.

Institutional Sentiment Summary — FLRG

In 2026 Q1, 23 hedge funds were net buyers of FLRG (7 opened a new position, 16 added to an existing one), while 21 reduced or exited (13 trimmed, 8 sold completely) — a 52% buyer ratio, indicating a slight buying edge. Net selling has persisted for two consecutive quarters. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 43.

Hedge Fund Ownership: FLRG

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

Market Analysis: FLRG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FLRG

-- --

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

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

Signal Freshness measures how much FLRG 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 · 84d ago
FLRG
+9.5%
SPY
+14.9%

FLRG outperformed SPY by -5.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 39d ago
FLRG
-0.3%
SPY
+1.1%

Since the filing became public, FLRG outperformed SPY by -1.4% .

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.

2 top-rated funds 0 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: FLRG
43 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 43 44 -2.27%
13F Shares 4M 4M -0.66%
Total Value $150M $156M -3.78%
New Positions 7 4 +3
Increased Positions 16 20 -4
Closed Positions 8 6 +2
Reduced Positions 13 11 +2
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FLRG

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Financial Highlights

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Institutional Holders (2026 Q1)

43 + investors

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

QUARTER:
Top 25 FLRG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Berman McAleer LLC 1.62% 322,951 $11.9M
2 Centennial Wealth Advisory LLC 0.75% 84,476 $3.1M
3 AE Wealth Management LLC 0.42% 2,100,401 $77.3M
4 Williams & Novak, LLC 0.28% 10,029 $371K
5 High Point Wealth Management, LLC 0.22% 6,224 $229K
6 Western Wealth Management, LLC 0.10% 72,037 $2.7M
7 Sovran Advisors, LLC 0.08% 26,846 $1.1M
8 Advisory Services Network, LLC 0.08% 164,243 $6.0M
9 Beacon Capital Management, LLC 0.06% 8,502 $313K
10 Commonwealth Equity Services, LLC 0.04% 754,626 $27.8M
11 Evolution Wealth Management INC. 0.04% 1,436 $53K
12 Principal Securities, INC. 0.03% 52,000 $1.9M
13 World Investment Advisors 0.02% 31,348 $1.2M
14 Wealth Enhancement Advisory Services, LLC 0.01% 179,214 $6.6M
15 CreativeOne Wealth, LLC 0.01% 12,317 $453K
16 Kestra Advisory Services, LLC 0.01% 72,214 $2.7M
17 Mutual Advisors, LLC 0.01% 7,643 $281K
18 Savvy Advisors, Inc. 0.01% 6,006 $221K
19 Kestra Private Wealth Services, LLC 0.00% 9,876 $363K
20 Quest 10 Wealth Builders, Inc. 0.00% 134 $5K
21 RFG Advisory, LLC 0.00% 5,486 $202K
22 Sunbelt Securities, Inc. 0.00% 913 $34K
23 Osaic Holdings, INC. 0.00% 35,843 $1.3M
24 Harbour Investments, INC. 0.00% 1,439 $53K
25 Root Financial Partners, LLC 0.00% 415 $15K
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 (FLRG)

What does the Smart Money Trend signal show for FLRG?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their FLRG 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 FLRG?

Slight buying edge — 52% buying: Last quarter: 23 funds bought or added vs 21 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 FLRG holders?

Smaller funds dominant — 2% AUM from top-100: 9 of 43 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held FLRG?

Mostly new holders — 35% entered in last year: Only 9 funds (21%) 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 (FLRG) following the 2026 Q1 hedge fund 13F filings?

As of today, FLRG has moved -0.3% since the 2026 Q1 13F filing date (May 15, 2026), compared to +1.1% for the SPY sector ETF — an outperformance of -1.4%. Since the quarter end (March 31, 2026), FLRG has gained +9.5% 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.

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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