Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FNCL)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +10
Streak
1Q ▲
Buyers last Q
58%

Smart Money Signals — FNCL

Based on 259 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 FNCL 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 (98% of max)

98% of all-time peak
259 hedge funds hold FNCL 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 FNCL is almost the same as a year ago (+6 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 58% buying

128 buying94 selling
Last quarter: 128 funds bought or added vs 94 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.
📈

More new buyers each quarter (+12 vs last Q)

new funds entering per quarter
Funds opening a new FNCL position: 26 → 34 → 26 → 38. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 26% medium ■ 17% new
146 out of 259 hedge funds have held FNCL 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.
➡️

Steady discovery — ~38 new funds/quarter

25 → 26 → 34 → 26 → 38 new funds/Q
New funds entering each quarter: 26 → 34 → 26 → 38. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 57% veterans vs 23% newcomers

■ 57% veterans ■ 20% 1-2yr ■ 23% new
Entry-cohort mix of 260 holders: 149 (57%) are 2+ year veterans, 52 entered 1–2 years ago, and 59 (23%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 35% AUM from major funds

35% from top-100 AUM funds
26 of 256 holders rank in the top 100 by AUM, accounting for 35% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.3
out of 10
Low Exit Risk
Exit risk score 3.3/10 — 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 — FNCL

In 2026 Q2, 128 hedge funds were net buyers of FNCL (38 opened a new position, 90 added to an existing one), while 94 reduced or exited (66 trimmed, 28 sold completely) — a 58% buyer ratio, indicating a slight buying edge. 35% of total institutional value in FNCL is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +10 funds (more new holders than closures). Total institutional holders: 259.

Hedge Fund Ownership: FNCL

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

Market Analysis: FNCL

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FNCL

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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.

8 top-rated funds 3 high-conviction
Consensus
4.1
/ 10
breadth
×
Elite
2.7
/ 10
conviction
Hedge Fund Positioning: FNCL
253 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 253 249 1.61%
13F Shares 12M 12M -2.64%
Total Value $882M $824M 6.98%
New Positions 37 26 +11
Increased Positions 88 89 -1
Closed Positions 30 41 -11
Reduced Positions 66 77 -11
Total Calls 1 2 -50.0%
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FNCL

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Institutional Holders (2026 Q2)

253 + investors

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

QUARTER:
Top 25 FNCL holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Yoder Wealth Management, Inc. 3.13% 104,535 $8.0M
2 Fischer Financial Services, Inc. 2.75% 143,173 $11.0M
3 Strategic Point Investment Advisors, LLC 2.24% 224,324 $17.2M
4 Harbor Asset Planning, Inc. 1.72% 29,865 $2.3M
5 Maxele Advisors, LLC 1.68% 31,463 $2.4M
6 Jacobs Equity LLC 1.64% 30,916 $2.4M
7 KDK Private Wealth Management, LLC 1.52% 23,874 $1.8M
8 Maltin Wealth Management, Inc. 1.40% 54,696 $4.2M
9 Smith Shellnut Wilson LLC /Adv 0.80% 26,815 $2.1M
10 Buska Wealth Management, LLC 0.65% 23,641 $1.8M
11 Lynch & Associates/In 0.56% 41,958 $3.2M
12 Procyon Advisors, LLC 0.56% 169,501 $13.0M
13 Lido Advisors, LLC 0.53% 2,554,511 $195.6M
14 Roxbury Financial LLC 0.50% 8,254 $632K
15 Aspetuck Financial Management LLC 0.50% 10,985 $841K
16 Noble Wealth Partners LLC 0.46% 6,876 $526K
17 Pacific Sun Financial Corp 0.38% 12,063 $924K
18 Nova Wealth Management, Inc. 0.36% 8,474 $649K
19 Bayshore Capital Advisors, LLC 0.34% 9,610 $736K
20 Agf Management Ltd 0.26% 882,402 $67.6M
21 Glass Jacobson Investment Advisors llc 0.24% 10,129 $775K
22 Lifeworks Advisors, LLC 0.24% 30,120 $2.3M
23 Redwood Financial Network Corp 0.24% 5,583 $427K
24 Independence Financial Advisors, LLC 0.23% 11,746 $899K
25 Valley Brook Capital Group, Inc. 0.23% 5,215 $399K
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 (FNCL)

What does the Smart Money Trend signal show for FNCL?

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

Slight buying edge — 58% buying: Last quarter: 128 funds bought or added vs 94 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 FNCL holders?

Strong quality — 35% AUM from major funds: 26 of 256 holders rank in the top 100 by AUM, accounting for 35% 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 FNCL?

56% of holders stayed for 2+ years: 146 out of 259 hedge funds have held FNCL 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.

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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