Vault-13

FIDELITY COVINGTON TRUST FSMD

SML MID MLTFCT · ETP · CUSIP 316092527

188 institutional holders +16 vs Q1 2026
43,235,62943.2m shares reported held*
$2.3bnreported value*
27 new 88 added 48 reduced 11 sold out net bought ≈ $44.5m (+841.6k 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 ($209.1k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $52.86.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 18Q4 22: 25Q1 23: 30Q2 23: 32Q3 23: 31Q4 23: 32Q1 24: 41Q2 24: 56Q3 24: 67Q4 24: 93Q1 25: 111Q2 25: 137Q3 25: 147Q4 25: 162Q1 26: 172Q2 26: 188188Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202218
Q4 202225
Q1 202330
Q2 202332
Q3 202331
Q4 202332
Q1 202441
Q2 202456
Q3 202467
Q4 202493
Q1 2025111
Q2 2025137
Q3 2025147
Q4 2025162
Q1 2026172
Q2 2026188

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 24: 45 bought or addedQ3 24: 17 cut or sold outQ4 24: 68 bought or addedQ4 24: 14 cut or sold outQ4 24Q1 25: 77 bought or addedQ1 25: 21 cut or sold outQ2 25: 98 bought or addedQ2 25: 41 cut or sold outQ2 25Q3 25: 102 bought or addedQ3 25: 41 cut or sold outQ4 25: 102 bought or addedQ4 25: 45 cut or sold outQ4 25Q1 26: 114 bought or addedQ1 26: 51 cut or sold outQ2 26: 115 bought or addedQ2 26: 59 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20244517
Q4 20246814
Q1 20257721
Q2 20259841
Q3 202510241
Q4 202510245
Q1 202611451
Q2 202611559

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300kQ3 25 calls: $237.7kQ3 25 puts: $0Q3 25P/C 0.00Q4 25 calls: $220.7kQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —Q2 26 calls: $0Q2 26 puts: $0Q2 26P/C —
Numbers
QuarterCallsPutsP/C
Q3 2025$237.7k$00.00
Q4 2025$220.7k$00.00
Q1 2026$0$0—
Q2 2026$0$0—

Biggest buyers

Retirement Planning Group, LLC Added +400,546+400.5k
ENVESTNET ASSET MANAGEMENT INC Added +260,764+260.8k
Kestra Investment Management, LLC Added +209,405+209.4k
Cambridge Investment Research Advisors, Inc. Added +178,039+178.0k
APPLETON PARTNERS INC/MA New +166,023+166.0k
LPL Financial LLC Added +148,606+148.6k
OSAIC HOLDINGS, INC. Added +122,271+122.3k
COMMONWEALTH EQUITY SERVICES, LLC Added +96,787+96.8k
BANK OF AMERICA CORP /DE/ Added +77,804+77.8k
Thrivent Financial for Lutherans New +73,474+73.5k

Biggest sellers

FMR LLC Reduced -754,958-755.0k
STIFEL FINANCIAL CORP Reduced -179,223-179.2k
Independent Advisor Alliance Sold out -123,592-123.6k
TWO SIGMA INVESTMENTS, LP Reduced -88,000-88.0k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced -80,380-80.4k
Kestra Advisory Services, LLC Reduced -72,984-73.0k
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO Reduced -59,065-59.1k
GOLDMAN SACHS GROUP INC Reduced -34,980-35.0k
Van Hulzen Asset Management, LLC Reduced -33,961-34.0k
CITADEL ADVISORS LLC Reduced -32,103-32.1k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.04% of their portfolio BOSTON, MA 16,109,10416.1m $851.4m $851.4m 0.04% Reduced -755.0k -754,958
2 Retirement Planning Group, LLC 7.47% of their portfolio LEAWOOD, KS 5,565,9415.6m $294.2m $294.2m 7.47% Added +400.5k +400,546
3 COMMONWEALTH EQUITY SERVICES, LLC 0.23% of their portfolio WALTHAM, MA 3,396,9033.4m $179.5m $179.5m 0.23% Added +96.8k +96,787
4 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 2,369,5322.4m $125.2m $125.2m 0.03% Added +260.8k +260,764
5 Kestra Investment Management, LLC 1.47% of their portfolio AUSTIN, TX 1,439,9931.4m $76.1m $76.1m 1.47% Added +209.4k +209,405
6 LPL Financial LLC 0.02% of their portfolio FORT MILL, SC 1,367,2591.4m $72.3m $72.3m 0.02% Added +148.6k +148,606
7 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,355,2421.4m $71.6m $71.6m 0.00% Added +77.8k +77,804
8 Sanctuary Advisors, LLC 0.21% of their portfolio INDIANAPOLIS, IN 867,190867.2k $45.8m $45.8m 0.21% Added +25.6k +25,612
9 Atria Investments, Inc 0.40% of their portfolio Charlotte, NC 746,717746.7k $39.5m $39.5m 0.40% Reduced -11.8k -11,826
10 Advocacy Wealth Management, LLC 1.18% of their portfolio ATLANTA, GA 616,638616.6k $32.6m $32.6m 1.18% Added +47.7k +47,688
11 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 595,405595.4k $31.5m $31.5m 0.03% Reduced -179.2k -179,223
12 Cetera Investment Advisers 0.03% of their portfolio SCHAUMBURG, IL 565,584565.6k $29.9m $29.9m 0.03% Reduced -15.7k -15,702
13 Kestra Advisory Services, LLC 0.08% of their portfolio AUSTIN, TX 485,327485.3k $25.6m $25.6m 0.08% Reduced -73.0k -72,984
14 OneDigital Investment Advisors LLC 0.22% of their portfolio OVERLAND PARK, KS 481,970482.0k $25.5m $25.5m 0.22% Added +72.3k +72,305
15 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 460,977461.0k $24.4m $24.4m 0.01% Added +26.8k +26,847
16 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 406,742406.7k $21.5m $21.5m 0.03% Added +122.3k +122,271
17 LIBERTY SQUARE WEALTH PARTNERS LLC 4.49% of their portfolio BETHLEHEM, PA 356,575356.6k $18.8m $18.8m 4.49% Added +38.9k +38,940
18 Cambridge Investment Research Advisors, Inc. 0.02% of their portfolio FAIRFIELD, IA 355,308355.3k $18.8m $18.8m 0.02% Added +178.0k +178,039
19 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 354,956355.0k $18.8m $18.8m 0.01% Reduced -59.1k -59,065
20 Goldstone Financial Group, LLC 1.71% of their portfolio OAKBROOK TERRACE, IL 353,428353.4k $18.7m $18.7m 1.71% Reduced -4.4k -4,445
21 GEN Financial Management, INC. 9.41% of their portfolio PLYMOUTH, MN 297,441297.4k $15.7m $15.7m 9.41% Reduced -6.0k -5,970
22 AssuredPartners Investment Advisors, LLC 1.27% of their portfolio Tampa, FL 248,292248.3k $13.1m $13.1m 1.27% Added +919 +919
23 Presper Financial Architects, LLC 6.80% of their portfolio AKRON, OH 246,489246.5k $13.0m $13.0m 6.80% Reduced -375 -375
24 Steward Partners Investment Advisory, LLC 0.05% of their portfolio STAMFORD, CT 200,971201.0k $10.6m $10.6m 0.05% Reduced -1.8k -1,812
25 Prasad Wealth Partners, LLC 2.52% of their portfolio INDEPENDENCE, OH 197,968198.0k $10.5m $10.5m 2.52% Added +700 +700
26 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 186,664186.7k $9.9m $9.9m 0.02% Added +43.3k +43,273
27 Farther Finance Advisors, LLC 0.08% of their portfolio SAN FRANCISCO, CA 184,870184.9k $9.8m $9.8m 0.08% Reduced -10.8k -10,821
28 APPLETON PARTNERS INC/MA 0.54% of their portfolio BOSTON, MA 166,023166.0k $8.8m $8.8m 0.54% New
29 Bravera Wealth 3.34% of their portfolio BISMARCK, ND 164,967165.0k $8.7m $8.7m 3.34% Added +14.6k +14,583
30 Provident Wealth Management, LLC 2.22% of their portfolio BRENTWOOD, TN 163,496163.5k $8.6m $8.6m 2.22% Reduced -1.2k -1,153
31 Advisory Services Network, LLC 0.09% of their portfolio ATLANTA, GA 149,284149.3k $7.9m $7.9m 0.09% Reduced -946 -946
32 FSA WEALTH PARTNERS, INC. 1.77% of their portfolio Rockville, MD 133,818133.8k $7.1m $7.1m 1.77% Added +5.0k +5,039
33 Evergreen Private Wealth LLC 2.48% of their portfolio GREENWOOD VILLAGE, CO 126,854126.9k $6.7m $6.7m 2.48% Added +1.6k +1,639
34 Laurel Wealth Planning LLC 2.29% of their portfolio EDINA, MN 98,01598.0k $5.2m $5.2m 2.29% Added +5.1k +5,085
35 Faithward Advisors, LLC 0.58% of their portfolio LANCASTER, PA 90,30990.3k $4.8m $4.8m 0.58% Added +50.9k +50,919
36 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 88,81888.8k $4.7m $4.7m 0.00% Added +31.0k +31,019
37 KESTRA PRIVATE WEALTH SERVICES, LLC 0.05% of their portfolio AUSTIN, TX 85,82985.8k $4.5m $4.5m 0.05% Added +3.8k +3,836
38 Trademark Financial Management, LLC 1.85% of their portfolio Bloomington, MN 85,63585.6k $4.5m $4.5m 1.85% Added +22.3k +22,332
39 Fortitude Financial, LLC 3.78% of their portfolio Spokane, WA 79,49579.5k $4.2m $4.2m 3.78% Reduced -8.4k -8,357
40 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 73,47473.5k $3.9m $3.9m 0.01% New
41 Emerald Advisors, LLC 0.43% of their portfolio BELLEVUE, WA 64,56264.6k $3.4m $3.4m 0.43% Added +7.8k +7,799
42 J.W. COLE ADVISORS, INC. 0.06% of their portfolio TAMPA, FL 62,14162.1k $3.3m $3.3m 0.06% New
43 &PARTNERS 0.01% of their portfolio NASHVILLE, TN 61,15161.2k $3.2m $3.2m 0.01% Added +10.6k +10,588
44 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 60,13860.1k $3.2m $3.2m 0.00% Reduced -5.1k -5,100
45 NOVEM GROUP 0.31% of their portfolio Rochester, NY 57,69657.7k $3.0m $3.0m 0.31% Reduced -512 -512
46 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 54,63354.6k $2.9m $2.9m 0.01% Added +2.1k +2,097
47 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 49,70049.7k $2.6m $2.6m 0.00% Reduced -88.0k -88,000
48 Van Hulzen Asset Management, LLC 0.18% of their portfolio EL DORADO HILLS, CA 46,75346.8k $2.5m $2.5m 0.18% Reduced -34.0k -33,961
49 Schuylkill Financial LLC 2.17% of their portfolio WYOMISSING, PA 44,33644.3k $2.3m $2.3m 2.17% First filing
50 Wealthcare Advisory Partners LLC 0.04% of their portfolio WEST CHESTER, PA 39,60939.6k $2.1m $2.1m 0.04% Added +955 +955
51 MONEY CONCEPTS CAPITAL CORP 0.10% of their portfolio PALM BEACH GARDENS, FL 39,37339.4k $2.1m $2.1m 0.10% Added +7.4k +7,447
52 Kuhn & Co Investment Counsel 1.19% of their portfolio Chicago, IL 38,91638.9k $2.1m $2.1m 1.19% Unchanged
53 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 38,23838.2k $2.0m $2.0m 0.00% Added +1.1k +1,078
54 Gladstone Institutional Advisory LLC 0.06% of their portfolio Bedminster, NJ 37,29437.3k $2.0m $2.0m 0.06% New
55 Strategic Blueprint, LLC 0.10% of their portfolio ATLANTA, GA 36,18336.2k $1.9m $1.9m 0.10% Added +2.6k +2,580
56 IFP Advisors, Inc 0.03% of their portfolio TAMPA, FL 34,66734.7k $1.8m $1.8m 0.03% Added +1.1k +1,147
57 GREAT VALLEY ADVISOR GROUP, INC. 0.03% of their portfolio WILMINGTON, DE 34,17034.2k $1.8m $1.8m 0.03% Added +535 +535
58 Equitable Holdings, Inc. 0.01% of their portfolio NEW YORK, NY 33,43133.4k $1.8m $1.8m 0.01% Added +3.9k +3,852
59 Visionary Wealth Advisors 0.07% of their portfolio O'FALLON, IL 32,86932.9k $1.7m $1.7m 0.07% Added +5.7k +5,743
60 Riverbend Wealth Management, LLC 0.84% of their portfolio Myrtle Beach, SC 31,30231.3k $1.7m $1.7m 0.84% Added +1.6k +1,575
61 Mascagni Wealth Management, Inc. 1.02% of their portfolio CLINTON, MS 31,13731.1k $1.6m $1.6m 1.02% Added +3.3k +3,310
62 INDEPENDENT FINANCIAL GROUP, LLC 0.03% of their portfolio SAN DIEGO, CA 30,36030.4k $1.6m $1.6m 0.03% Reduced -610 -610
63 Global Financial Private Client, LLC 0.42% of their portfolio Sarasota, FL 29,34929.3k $1.6m $1.6m 0.42% Added +259 +259
64 HICKS CAPITAL MANAGEMENT LLC 1.27% of their portfolio COLUMBUS, OH 29,34129.3k $1.6m $1.6m 1.27% Reduced -1.1k -1,068
65 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 27,60327.6k $1.5m $1.5m 0.00% Reduced -35.0k -34,980
66 SHP Wealth Management 0.10% of their portfolio PLYMOUTH, MA 26,98627.0k $1.4m $1.4m 0.10% Added +2.1k +2,084
67 Concurrent Investment Advisors, LLC 0.01% of their portfolio Tampa, FL 26,37726.4k $1.4m $1.4m 0.01% Added +943 +943
68 Private Advisor Group, LLC 0.01% of their portfolio MORRISTOWN, NJ 25,25525.3k $1.3m $1.3m 0.01% Added +9.5k +9,538
69 BG Investment Services, LLC 0.94% of their portfolio HAGATNA, GU 24,67424.7k $1.3m $1.3m 0.94% Added +3.1k +3,126
70 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 23,97324.0k $1.3m $1.3m 0.00% Added +520 +520
71 Roxbury Financial LLC 0.99% of their portfolio MOUNT ARLINGTON, NJ 23,77623.8k $1.3m $1.3m 0.99% Added +1.4k +1,386
72 Merit Financial Group, LLC 0.01% of their portfolio ALPHARETTA, GA 22,24322.2k $1.2m $1.2m 0.01% Added +2.9k +2,946
73 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 21,92121.9k $1.2m $1.2m 0.00% Added +6.6k +6,567
74 Spire Wealth Management 0.03% of their portfolio MCLEAN, VA 19,86819.9k $1.1m $1.1m 0.03% Reduced -4.7k -4,675
75 Capital Analysts, LLC 0.02% of their portfolio FORT WASHINGTON, PA 18,55518.6k $980.0k $980.0k 0.02% Added +6.2k +6,220
76 Envestnet Portfolio Solutions, Inc. 0.00% of their portfolio BERWYN, PA 18,17418.2k $960.5k $960.5k 0.00% Reduced -37 -37
77 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 18,01818.0k $952.3k $952.3k 0.00% New
78 Focus Financial Network, Inc. 0.03% of their portfolio MINNEAPOLIS, MN 17,03417.0k $900.3k $900.3k 0.03% Added +202 +202
79 Summit Financial Wealth Advisors, LLC 0.11% of their portfolio Lafayette, LA 17,01517.0k $899.2k $899.2k 0.11% Added +3.5k +3,544
80 Rehmann Capital Advisory Group 0.04% of their portfolio LANSING, MI 16,96117.0k $896.4k $896.4k 0.04% Unchanged
81 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 16,18716.2k $855.5k $855.5k 0.00% Added +130 +130
82 Foundations Investment Advisors, LLC 0.01% of their portfolio PHOENIX, AZ 15,67215.7k $828.3k $828.3k 0.01% Added +5.4k +5,427
83 Cedar Point Capital Partners, LLC 0.46% of their portfolio Cedar Rapids, IA 15,22415.2k $804.6k $804.6k 0.46% Added +228 +228
84 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 15,17515.2k $782.9k $782.9k 0.00% Added +3.2k +3,177
85 Diversify Advisory Services, LLC 0.01% of their portfolio SANDY, UT 14,87314.9k $757.9k $757.9k 0.01% New
86 DIVERSIFY WEALTH MANAGEMENT, LLC 0.01% of their portfolio SANDY, UT 14,87314.9k $757.9k $757.9k 0.01% Added +701 +701
87 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 14,54814.5k $768.9k $768.9k 0.00% Added +10.3k +10,280
88 Perigon Wealth Management, LLC 0.01% of their portfolio SAN FRANCISCO, CA 14,36014.4k $758.9k $758.9k 0.01% Added +8.2k +8,202
89 Breakwater Capital Group 0.09% of their portfolio PARAMUS, NJ 14,11314.1k $745.9k $745.9k 0.09% Reduced -436 -436
90 Stratos Wealth Partners, LTD. 0.01% of their portfolio BEACHWOOD, OH 13,39513.4k $708.0k $708.0k 0.01% Added +283 +283
91 Golden State Wealth Management, LLC 0.06% of their portfolio SANTA ANA, CA 13,20513.2k $697.9k $697.9k 0.06% Reduced -6.4k -6,424
92 CoreCap Advisors, LLC 0.02% of their portfolio SOUTHFIELD, MI 12,97413.0k $685.7k $685.7k 0.02% Added +1.0k +1,049
93 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 12,40512.4k $655.6k $655.6k 0.00% Reduced -22.7k -22,675
94 Mariner, LLC 0.00% of their portfolio Overland Park, KS 12,23512.2k $646.6k $646.6k 0.00% Added +2.4k +2,388
95 Chicago Partners Investment Group LLC 0.01% of their portfolio CHICAGO, IL 12,18512.2k $621.7k $621.7k 0.01% Added +1.0k +1,000
96 THOROUGHBRED FINANCIAL SERVICES, LLC 0.03% of their portfolio BRENTWOOD, TN 12,00112.0k $634.0k $634.0k 0.03% Added +4.1k +4,123
97 SWEENEY & MICHEL, LLC 0.15% of their portfolio CHICO, CA 11,02811.0k $577.6k $577.6k 0.15% Reduced -469 -469
98 Balanced Rock Investment Advisors LLC 0.36% of their portfolio ROSLINDALE, MA 10,90210.9k $576.2k $576.2k 0.36% Added +515 +515
99 Mayfair Advisory Group, LLC 0.16% of their portfolio BIRMINGHAM, AL 10,58210.6k $538.8k $538.8k 0.16% Added +1.3k +1,297
100 Principle Wealth Partners LLC 0.03% of their portfolio MADISON, CT 10,52010.5k $556.0k $556.0k 0.03% Added +80 +80