Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FMAG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +7
Streak
1Q ▲
Buyers last Q
62%

Smart Money Signals — FMAG

Based on 38 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added FMAG 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
38 hedge funds hold FMAG 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 — +23% more funds vs a year ago

fund count last 6Q
+7 new funds entered over the past year (+23% 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 — 62% buying

23 buying14 selling
Last quarter: 23 funds were net buyers (12 opened a brand new position + 11 added to an existing one). Only 14 were sellers (9 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+9 vs last Q)

new funds entering per quarter
Funds opening a new FMAG position: 7 → 6 → 3 → 12. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 32% long-term, 26% new

■ 32% conviction (2yr+) ■ 42% medium ■ 26% new
Of the 38 current holders: 12 (32%) held >2 years, 16 held 1–2 years, and 10 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

6 → 7 → 6 → 3 → 12 new funds/Q
New funds entering each quarter: 7 → 6 → 3 → 12. A growing number of institutions are discovering FMAG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 32% veterans, 32% new entrants

■ 32% veterans ■ 37% 1-2yr ■ 32% new
Of 38 current holders: 12 (32%) held 2+ years, 14 held 1–2 years, 12 (32%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
🏆

Elite ownership — 85% AUM from top-100 funds

85% from top-100 AUM funds
15 of 38 holders are among the 100 largest funds by AUM, controlling 85% of total institutional value in FMAG. 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.

Institutional Sentiment Summary — FMAG

In 2026 Q2, 23 hedge funds were net buyers of FMAG (12 opened a new position, 11 added to an existing one), while 14 reduced or exited (9 trimmed, 5 sold completely) — a 62% buyer ratio, indicating clear institutional accumulation. 85% of total institutional value in FMAG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +7 funds (more new holders than closures). Total institutional holders: 38.

Hedge Fund Ownership: FMAG

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

Market Analysis: FMAG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FMAG

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

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.5
/ 10
conviction
Hedge Fund Positioning: FMAG
2026 Q3 Stats Unlock in 46 days 38 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 38 31 22.58%
13F Shares 3M 4M -1.67%
Total Value $127M $112M 13.24%
New Positions 12 3 +9
Increased Positions 11 11 -
Closed Positions 5 5 -
Reduced Positions 9 13 -4
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FMAG

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Valuation Measures Data as of: --

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q2)

38 + investors

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

QUARTER:
Top 25 FMAG holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Anson Capital, Inc. 2.41% 100,865 $3.7M
2 Beam Wealth Advisors, INC. 0.60% 75,728 $2.4M
3 Axis Wealth Partners, LLC 0.12% 6,678 $246K
4 Arkadios Wealth Advisors 0.08% 140,024 $5.1M
5 Sigma Planning Corp 0.05% 53,212 $2.0M
6 FIL Ltd 0.04% 1,403,731 $51.6M
7 Sachetta, LLC 0.03% 1,475 $54K
8 Advyzon Investment Management, LLC 0.01% 5,590 $206K
9 Principle Wealth Partners LLC 0.01% 5,511 $203K
10 J.W. Cole Advisors, INC. 0.01% 13,586 $500K
11 Wells Fargo & Company/Mn 0.01% 986,128 $36.3M
12 Arax Advisory Partners 0.00% 13,917 $512K
13 Kestra Advisory Services, LLC 0.00% 22,974 $845K
14 Jones Financial Companies Lllp 0.00% 188,923 $6.7M
15 Hurley Capital, LLC 0.00% 136 $5K
16 PNC Financial Services Group, INC. 0.00% 106,954 $3.9M
17 Thurston, Springer, Miller, Herd & Titak, INC. 0.00% 100 $4K
18 Commonwealth Equity Services, LLC 0.00% 28,164 $1.0M
19 Integrated Wealth Concepts LLC 0.00% 5,321 $196K
20 Cetera Investment Advisers 0.00% 28,081 $1.0M
21 Capital Investment Advisory Services, LLC 0.00% 410 $15K
22 Envestnet Asset Management Inc 0.00% 100,620 $3.7M
23 SHP Wealth Management 0.00% 285 $10K
24 Two Sigma Investments, LP 0.00% 20,100 $739K
25 UBS Group AG 0.00% 58,825 $2.2M
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 (FMAG)

What does the Smart Money Trend signal show for FMAG?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added FMAG 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 FMAG?

More buyers than sellers — 62% buying: Last quarter: 23 funds were net buyers (12 opened a brand new position + 11 added to an existing one). Only 14 were sellers (9 trimmed + 5 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FMAG holders?

Elite ownership — 85% AUM from top-100 funds: 15 of 38 holders are among the 100 largest funds by AUM, controlling 85% of total institutional value in FMAG. 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 FMAG?

Mixed — 32% long-term, 26% new: Of the 38 current holders: 12 (32%) held >2 years, 16 held 1–2 years, and 10 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.

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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