Vault-13

FIDELITY COVINGTON TRUST FFSM

FUNDAMENTAL SMAL · ETP · CUSIP 316092295

63 institutional holders +13 vs Q3 2025
28,560,36228.6m shares reported held*
$878.2mreported value*
13 new 26 added 14 reduced 4 sold out net bought ≈ $148.5m (+4.8m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $30.75.

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0255075Q3 22: 10Q4 22: 9Q1 23: 10Q2 23: 10Q3 23: 10Q4 23: 15Q1 24: 15Q2 24: 21Q3 24: 24Q4 24: 29Q1 25: 40Q2 25: 48Q3 25: 50Q4 25: 6363Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 202210
Q4 20229
Q1 202310
Q2 202310
Q3 202310
Q4 202315
Q1 202415
Q2 202421
Q3 202424
Q4 202429
Q1 202540
Q2 202548
Q3 202550
Q4 202563

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q1 24: 7 bought or addedQ1 24: 5 cut or sold outQ2 24: 13 bought or addedQ2 24: 5 cut or sold outQ2 24Q3 24: 16 bought or addedQ3 24: 6 cut or sold outQ4 24: 18 bought or addedQ4 24: 11 cut or sold outQ4 24Q1 25: 28 bought or addedQ1 25: 10 cut or sold outQ2 25: 36 bought or addedQ2 25: 17 cut or sold outQ2 25Q3 25: 33 bought or addedQ3 25: 18 cut or sold outQ4 25: 39 bought or addedQ4 25: 18 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 202475
Q2 2024135
Q3 2024166
Q4 20241811
Q1 20252810
Q2 20253617
Q3 20253318
Q4 20253918

Biggest buyers

FMR LLC Added +3,625,092+3.6m
COMMONWEALTH EQUITY SERVICES, LLC Added +803,856+803.9k
RFG Advisory, LLC Added +314,429+314.4k
Retirement Planning Group, LLC Added +40,439+40.4k
SAX WEALTH ADVISORS, LLC Added +35,720+35.7k
M Holdings Securities, Inc. New +33,180+33.2k
Dentgroup LLC Added +21,218+21.2k
ENVESTNET ASSET MANAGEMENT INC Added +20,750+20.8k
BANK OF AMERICA CORP /DE/ New +20,708+20.7k
Pines Wealth Management, LLC New +19,682+19.7k

Biggest sellers

Wealth Quarterback LLC Reduced -122,278-122.3k
JPMORGAN CHASE & CO Reduced -39,277-39.3k
Financial Engines Advisors L.L.C. Sold out -27,879-27.9k
Cambridge Investment Research Advisors, Inc. Reduced -22,530-22.5k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -10,057-10.1k
Beacon Financial Advisory LLC Sold out -7,000-7.0k
Evernest Financial Advisors, LLC Reduced -3,476-3.5k
Ameritas Advisory Services, LLC Sold out -2,780-2.8k
TRUIST FINANCIAL CORP Reduced -2,666-2.7k
OSAIC HOLDINGS, INC. Reduced -1,533-1.5k

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.04% of their portfolio BOSTON, MA 23,537,26223.5m $722.4m $722.4m 0.04% Added +3.6m +3,625,092
2 COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio WALTHAM, MA 1,156,8991.2m $35.5m $35.5m 0.05% Added +803.9k +803,856
3 RFG Advisory, LLC 0.41% of their portfolio BIRMINGHAM, AL 706,371706.4k $21.7m $21.7m 0.41% Added +314.4k +314,429
4 Evernest Financial Advisors, LLC 2.86% of their portfolio CARMEL, IN 402,143402.1k $13.7m $13.7m 2.86% Reduced -3.5k -3,476
5 KOM Wealth Management Group, LLC 8.63% of their portfolio APPLETON, WI 397,655397.7k $12.2m $12.2m 8.63% Added +6.6k +6,610
6 MAI Capital Management 0.05% of their portfolio INDEPENDENCE, OH 298,133298.1k $9.1m $9.1m 0.05% Reduced -875 -875
7 Keenan, LLC 7.16% of their portfolio BOSTON, MA 265,329265.3k $8.1m $8.1m 7.16% First filing
8 MENORA MIVTACHIM HOLDINGS LTD. 0.03% of their portfolio Ramat Gan, L3 238,562238.6k $7.3m $7.3m 0.03% Added +15.6k +15,552
9 Gaddis Premier Wealth Advisors LLC 4.84% of their portfolio DURANT, OK 207,859207.9k $6.4m $6.4m 4.84% First filing
10 SAX WEALTH ADVISORS, LLC 0.28% of their portfolio PARSIPPANY, NJ 192,881192.9k $5.9m $5.9m 0.28% Added +35.7k +35,720
11 SK Wealth Management, LLC 1.57% of their portfolio PROVIDENCE, RI 172,272172.3k $5.6m $5.6m 1.57% Added +13.1k +13,095
12 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 91,40991.4k $2.8m $2.8m 0.00% Reduced -39.3k -39,277
13 Clarity Retirement & Wealth, LLC 2.46% of their portfolio NEW BEDFORD, MA 91,00691.0k $2.8m $2.8m 2.46% First filing
14 Dentgroup LLC 1.65% of their portfolio BATON ROUGE, LA 78,51178.5k $2.4m $2.4m 1.65% Added +21.2k +21,218
15 MFA Wealth Services 1.49% of their portfolio THOUSAND OAKS, CA 71,90671.9k $2.2m $2.2m 1.49% Added +50 +50
16 Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio FAIRFIELD, IA 60,23760.2k $1.8m $1.8m 0.00% Reduced -22.5k -22,530
17 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 52,34652.3k $1.6m $1.6m 0.00% Added +20.8k +20,750
18 Retirement Planning Group, LLC 0.05% of their portfolio LEAWOOD, KS 51,83351.8k $1.6m $1.6m 0.05% Added +40.4k +40,439
19 PRINCIPAL SECURITIES, INC. 0.02% of their portfolio DES MOINES, IA 46,77346.8k $1.4m $1.4m 0.02% Added +17.2k +17,163
20 M Holdings Securities, Inc. 0.07% of their portfolio PORTLAND, OR 33,18033.2k $1.0m $1.0m 0.07% New
21 PENSION & WEALTH MANAGEMENT ADVISORS, INC. 0.26% of their portfolio WALTHAM, MA 28,19428.2k $865.3k $865.3k 0.26% Reduced -1.4k -1,406
22 Sigma Planning Corp 0.02% of their portfolio ANN ARBOR, MI 25,82525.8k $792.6k $792.6k 0.02% Added +3.1k +3,057
23 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 23,70723.7k $727.6k $727.6k 0.01% Reduced -387 -387
24 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 20,70820.7k $635.5k $635.5k 0.00% New
25 Pines Wealth Management, LLC 0.20% of their portfolio SOUTHERN PINES, NC 19,68219.7k $604.0k $604.0k 0.20% New
26 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 18,97419.0k $582.3k $582.3k 0.00% New
27 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 17,44617.4k $535.7k $535.7k 0.00% Reduced -1.5k -1,533
28 Wealth Quarterback LLC 0.19% of their portfolio TOMS RIVER, NJ 17,34917.3k $532.4k $532.4k 0.19% Reduced -122.3k -122,278
29 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 16,87416.9k $517.9k $517.9k 0.00% Added +598 +598
30 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 16,06516.1k $512.6k $512.6k 0.00% New
31 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 15,28315.3k $469.0k $469.0k 0.00% Reduced -970 -970
32 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 14,80014.8k $454.2k $454.2k 0.00% Added +4.0k +3,986
33 KESTRA PRIVATE WEALTH SERVICES, LLC 0.01% of their portfolio AUSTIN, TX 13,17813.2k $404.4k $404.4k 0.01% Added +434 +434
34 BENJAMIN EDWARDS INC 0.00% of their portfolio Clayton, MO 12,91412.9k $396.3k $396.3k 0.00% Reduced -145 -145
35 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 12,78112.8k $392.0k $392.0k 0.00% Added +1.1k +1,076
36 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 12,17812.2k $373.7k $373.7k 0.00% Reduced -2.7k -2,666
37 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 12,14512.1k $372.7k $372.7k 0.00% New
38 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 10,51910.5k $322.8k $322.8k 0.00% Added +2 +2
39 HICKS CAPITAL MANAGEMENT LLC 0.32% of their portfolio COLUMBUS, OH 10,34810.3k $317.6k $317.6k 0.32% Unchanged
40 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 9,96410.0k $305.8k $305.8k 0.00% New
41 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 9,7689.8k $299.8k $299.8k 0.01% Added +13 +13
42 Bay Capital Advisors, LLC 0.18% of their portfolio VIRGINIA BEACH, VA 9,5949.6k $294.4k $294.4k 0.18% Added +6 +6
43 Cutler Capital Management, LLC 0.07% of their portfolio WORCESTER, MA 8,0858.1k $248.1k $248.1k 0.07% New
44 COMERICA BANK 0.00% of their portfolio DALLAS, TX 7,9768.0k $244.8k $244.8k 0.00% Unchanged
45 Eaton Financial Holdings Company, LLC 0.06% of their portfolio Coral Springs, FL 7,6087.6k $233.5k $233.5k 0.06% New
46 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 7,4507.5k $228.4k $228.4k 0.00% Unchanged
47 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 7,2347.2k $222.0k $222.0k 0.00% Added +7.2k +7,163
48 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 7,0867.1k $217.5k $217.5k 0.00% Reduced -10.1k -10,057
49 Provident Wealth Management, LLC 0.03% of their portfolio BRENTWOOD, TN 3,2213.2k $98.9k $98.9k 0.03% Added +6 +6
50 Bulwark Capital Corp 0.06% of their portfolio FERNANDINA BEACH, FL 2,5352.5k $77.8k $77.8k 0.06% Unchanged
51 UBS Group AG 0.00% of their portfolio ZURICH, V8 1,7641.8k $54.1k $54.1k 0.00% New
52 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 1,5651.6k $48.0k $48.0k 0.00% Reduced -1.1k -1,050
53 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 1,5231.5k $46.8k $46.8k 0.00% Added +269 +269
54 Elyxium Wealth, LLC 0.01% of their portfolio BEVERLY HILLS, CA 1,0191.0k $31.3k $31.3k 0.01% New
55 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 574574 $17.6k $17.6k 0.00% Unchanged
56 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 545545 $16.7k $16.7k 0.00% Added +500 +500
57 HANTZ FINANCIAL SERVICES, INC. 0.00% of their portfolio SOUTHFIELD, MI 498498 $15.0k $15.0k 0.00% Not comparable
58 CWM, LLC 0.00% of their portfolio OMAHA, NE 394394 $12.0k $12.0k 0.00% Unchanged
59 AdvisorNet Financial, Inc 0.00% of their portfolio MINNETONKA, MN 135135 $4.1k $4.1k 0.00% Added +79 +79
60 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 126126 $3.9k $3.9k 0.00% New
61 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 9191 $2.8k $2.8k 0.00% New
62 AE Wealth Management LLC 0.00% of their portfolio TOPEKA, KS 5050 $1.5k $1.5k 0.00% Reduced -1 -1
63 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 2020 $614 $614 0.00% Added +2 +2