Vault-13

FIDELITY COVINGTON TRUST FVAL

VLU FACTOR ETF · ETP · CUSIP 316092782

131 institutional holders +3 vs Q1 2025
9,069,5789.1m shares reported held*
$579.3mreported value*
14 new 54 added 39 reduced 15 sold out net bought ≈ $37.8m (+591.9k 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 ($331.0k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $63.87.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 22: 75Q4 22: 89Q1 23: 77Q2 23: 83Q3 23: 82Q4 23: 104Q1 24: 109Q2 24: 108Q3 24: 117Q4 24: 125Q1 25: 128Q2 25: 131131Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202275
Q4 202289
Q1 202377
Q2 202383
Q3 202382
Q4 2023104
Q1 2024109
Q2 2024108
Q3 2024117
Q4 2024125
Q1 2025128
Q2 2025131

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 23: 48 bought or addedQ3 23: 33 cut or sold outQ4 23: 60 bought or addedQ4 23: 30 cut or sold outQ4 23Q1 24: 61 bought or addedQ1 24: 45 cut or sold outQ2 24: 57 bought or addedQ2 24: 47 cut or sold outQ2 24Q3 24: 69 bought or addedQ3 24: 32 cut or sold outQ4 24: 59 bought or addedQ4 24: 49 cut or sold outQ4 24Q1 25: 73 bought or addedQ1 25: 44 cut or sold outQ2 25: 68 bought or addedQ2 25: 54 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20234833
Q4 20236030
Q1 20246145
Q2 20245747
Q3 20246932
Q4 20245949
Q1 20257344
Q2 20256854

Biggest buyers

FMR LLC Added +755,322+755.3k
ROYAL BANK OF CANADA Added +550,737+550.7k
ENVESTNET ASSET MANAGEMENT INC Added +94,266+94.3k
LPL Financial LLC Added +40,388+40.4k
High Probability Advisors, LLC Added +37,149+37.1k
Kestra Advisory Services, LLC Added +29,201+29.2k
Rockefeller Capital Management L.P. Added +28,413+28.4k
LVZ, Inc. New +28,311+28.3k
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added +26,498+26.5k
Strategic Blueprint, LLC New +14,467+14.5k

Biggest sellers

Thrivent Financial for Lutherans Reduced -544,830-544.8k
Avidian Wealth Enterprises, LLC Sold out -252,014-252.0k
TWO SIGMA INVESTMENTS, LP Reduced -103,600-103.6k
AE Wealth Management LLC Reduced -72,742-72.7k
PFG Advisors Sold out -42,753-42.8k
Forbes Financial Planning, Inc. Reduced -27,799-27.8k
FLOW TRADERS U.S. LLC Sold out -27,706-27.7k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -23,296-23.3k
CITADEL ADVISORS LLC Reduced -10,876-10.9k
Compound Planning, Inc. Sold out -8,778-8.8k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.01% of their portfolio BOSTON, MA 1,712,5801.7m $109.4m $109.4m 0.01% Added +755.3k +755,322
2 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 1,398,0511.4m $89.3m $89.3m 0.03% Added +94.3k +94,266
3 COMMONWEALTH EQUITY SERVICES, LLC 0.07% of their portfolio WALTHAM, MA 830,198830.2k $53.0m $53.0m 0.07% Reduced -23.3k -23,296
4 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 715,778715.8k $45.7m $45.7m 0.00% Added +550.7k +550,737
5 High Probability Advisors, LLC 3.96% of their portfolio Pittsford, NY 414,937414.9k $26.5m $26.5m 3.96% Added +37.1k +37,149
6 Custos Family Office, LLC 6.55% of their portfolio AUSTIN, TX 321,535321.5k $20.5m $20.5m 6.55% Added +2.3k +2,292
7 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 294,469294.5k $18.8m $18.8m 0.01% Added +40.4k +40,388
8 OSAIC HOLDINGS, INC. 0.03% of their portfolio SCOTTSDALE, AZ 246,102246.1k $15.7m $15.7m 0.03% Reduced -2.2k -2,162
9 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 208,079208.1k $13.3m $13.3m 0.00% Added +14.4k +14,416
10 Kestra Advisory Services, LLC 0.06% of their portfolio AUSTIN, TX 178,389178.4k $11.4m $11.4m 0.06% Added +29.2k +29,201
11 Dynamic Advisor Solutions LLC 0.35% of their portfolio PHOENIX, AZ 178,222178.2k $11.4m $11.4m 0.35% Added +4.3k +4,321
12 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 177,883177.9k $11.4m $11.4m 0.02% Added +13.0k +13,002
13 MAI Capital Management 0.07% of their portfolio INDEPENDENCE, OH 150,335150.3k $9.6m $9.6m 0.07% Added +189 +189
14 Vantage Financial Partners, LLC 2.15% of their portfolio ELM GROVE, WI 146,131146.1k $9.3m $9.3m 2.15% Added +52 +52
15 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 140,932140.9k $9.0m $9.0m 0.00% Added +10.4k +10,354
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 121,470121.5k $7.8m $7.8m 0.00% Reduced -4.9k -4,936
17 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 110,004110.0k $7.0m $7.0m 0.01% Reduced -3.1k -3,052
18 CONDOR CAPITAL MANAGEMENT 0.61% of their portfolio MARTINSVILLE, NJ 109,495109.5k $7.0m $7.0m 0.61% Added +2.1k +2,130
19 KESTRA PRIVATE WEALTH SERVICES, LLC 0.10% of their portfolio AUSTIN, TX 104,980105.0k $6.7m $6.7m 0.10% Added +3.1k +3,078
20 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 101,800101.8k $6.5m $6.5m 0.01% Reduced -103.6k -103,600
21 Forbes Financial Planning, Inc. 3.64% of their portfolio EAST GREENWICH, RI 84,44384.4k $5.4m $5.4m 3.64% Reduced -27.8k -27,799
22 Prism Advisors, Inc. 1.48% of their portfolio STUDIO CITY, CA 81,53081.5k $5.2m $5.2m 1.48% Unchanged
23 Goodwin Investment Advisory 5.82% of their portfolio WOODSTOCK, GA 78,87978.9k $5.0m $5.0m 5.82% Added +13.7k +13,692
24 SAX WEALTH ADVISORS, LLC 0.25% of their portfolio PARSIPPANY, NJ 64,77864.8k $4.1m $4.1m 0.25% Added +5.6k +5,576
25 Cedar Point Capital Partners, LLC 2.53% of their portfolio Cedar Rapids, IA 56,07856.1k $3.6m $3.6m 2.53% Added +3.1k +3,137
26 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 53,57053.6k $3.4m $3.4m 0.00% Added +28.4k +28,413
27 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 49,53549.5k $3.2m $3.2m 0.00% Added +26.5k +26,498
28 PRIMORIS WEALTH ADVISORS, LLC 1.98% of their portfolio North Palm Beach, FL 45,48245.5k $2.9m $2.9m 1.98% Added +13.0k +13,015
29 Bouvel Investment Partners, LLC 0.98% of their portfolio PHOENIXVILLE, PA 45,30445.3k $2.9m $2.9m 0.98% Reduced -4.8k -4,828
30 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 43,64743.6k $2.8m $2.8m 0.01% Added +9.0k +9,046
31 ALTFEST L J & CO INC 0.30% of their portfolio NEW YORK, NY 39,66039.7k $2.5m $2.5m 0.30% Reduced -1.7k -1,663
32 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 32,63632.6k $2.1m $2.1m 0.00% Added +5.1k +5,079
33 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 32,23732.2k $2.1m $2.1m 0.00% Reduced -10.9k -10,876
34 Orion Porfolio Solutions, LLC 0.02% of their portfolio OMAHA, NE 31,82331.8k $2.0m $2.0m 0.02% Added +5.7k +5,738
35 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 30,57230.6k $2.0m $2.0m 0.00% Added +2.8k +2,781
36 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 29,37129.4k $1.9m $1.9m 0.01% Added +3.3k +3,315
37 LVZ, Inc. 0.22% of their portfolio Holland, MI 28,31128.3k $1.8m $1.8m 0.22% New
38 Atria Wealth Solutions, Inc. 0.04% of their portfolio NEW YORK, NY 27,59827.6k $1.8m $1.8m 0.04% Reduced -2.6k -2,579
39 Thrivent Financial for Lutherans 0.00% of their portfolio Minneapolis, MN 26,97027.0k $1.7m $1.7m 0.00% Reduced -544.8k -544,830
40 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 26,13526.1k $1.7m $1.7m 0.00% Added +9.1k +9,088
41 Valmark Advisers, Inc. 0.02% of their portfolio AKRON, OH 24,74824.7k $1.6m $1.6m 0.02% Added +179 +179
42 Sigma Planning Corp 0.05% of their portfolio ANN ARBOR, MI 23,82223.8k $1.5m $1.5m 0.05% Reduced -121 -121
43 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 22,95923.0k $1.5m $1.5m 0.01% Reduced -72.7k -72,742
44 Traub Capital Management LLC 1.12% of their portfolio NEEDHAM, MA 18,91518.9k $1.2m $1.2m 1.12% First filing
45 B. Riley Wealth Advisors, Inc. 0.06% of their portfolio MEMPHIS, TN 17,97318.0k $1.1m $1.1m 0.06% Added +5.2k +5,167
46 Darwin Wealth Management, LLC 0.37% of their portfolio TAMPA, FL 16,81816.8k $1.1m $1.1m 0.37% Reduced -761 -761
47 Spectrum Investment Advisors, Inc. 0.56% of their portfolio MEQUON, WI 15,08915.1k $963.7k $963.7k 0.56% Added +849 +849
48 Foundations Investment Advisors, LLC 0.02% of their portfolio PHOENIX, AZ 15,05615.1k $961.6k $961.6k 0.02% Added +1.8k +1,835
49 Strategic Blueprint, LLC 0.05% of their portfolio ATLANTA, GA 14,46714.5k $924.0k $924.0k 0.05% New
50 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 13,96914.0k $892.2k $892.2k 0.02% Added +402 +402
51 Montis Financial, LLC 0.24% of their portfolio WALTHAM, MA 13,56013.6k $866.1k $866.1k 0.24% Reduced -527 -527
52 SCHMIDT P J INVESTMENT MANAGEMENT INC 0.15% of their portfolio CEDARBURG, WI 13,33513.3k $851.7k $851.7k 0.15% Added +8.7k +8,656
53 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 12,23612.2k $781.0k $781.0k 0.00% Added +4.1k +4,091
54 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 10,37510.4k $671.7k $671.7k 0.00% Reduced -770 -770
55 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 9,5589.6k $610.5k $610.5k 0.00% Added +14 +14
56 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 9,2839.3k $592.9k $592.9k 0.00% New
57 Samalin Investment Counsel, LLC 0.22% of their portfolio CHAPPAQUA, NY 9,0909.1k $580.6k $580.6k 0.22% Reduced -2.0k -2,041
58 GWN SECURITIES INC. 0.11% of their portfolio Palm Beach Gardens, FL 9,0579.1k $578.6k $578.6k 0.11% Reduced -1.3k -1,275
59 Hoxton Planning & Management, LLC 0.19% of their portfolio SHEPHERDSTOWN, WV 8,8308.8k $564.0k $564.0k 0.19% Unchanged
60 Sunbelt Securities, Inc. 0.05% of their portfolio HOUSTON, TX 8,5908.6k $528.5k $528.5k 0.05% Reduced -4.0k -4,019
61 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 8,1048.1k $517.6k $517.6k 0.00% Added +800 +800
62 Crossmark Global Holdings, Inc. 0.01% of their portfolio HOUSTON, TX 8,0988.1k $517.4k $517.4k 0.01% Reduced -1.0k -1,022
63 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 7,8537.9k $501.6k $501.6k 0.00% Added +8 +8
64 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 7,7757.8k $496.6k $496.6k 0.00% Added +501 +501
65 Cullen/Frost Bankers, Inc. 0.01% of their portfolio San Antonio, TX 7,6697.7k $489.8k $489.8k 0.01% Added +1.2k +1,162
66 Principle Wealth Partners LLC 0.02% of their portfolio MADISON, CT 6,1676.2k $393.9k $393.9k 0.02% Unchanged
67 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 6,0626.1k $387.2k $387.2k 0.00% Added +138 +138
68 Prepared Retirement Institute LLC 0.22% of their portfolio LANSDALE, PA 5,9275.9k $378.6k $378.6k 0.22% Added +21 +21
69 Global Retirement Partners, LLC 0.01% of their portfolio San Rafael, CA 5,6455.6k $360.5k $360.5k 0.01% First filing
70 Kovack Advisors, Inc. 0.04% of their portfolio FT. LAUDERDALE, FL 5,5925.6k $357.1k $357.1k 0.04% Added +61 +61
71 Certified Advisory Corp 0.04% of their portfolio ALTAMONTE SPRINGS, FL 5,4615.5k $348.8k $348.8k 0.04% Added +21 +21
72 CoreCap Advisors, LLC 0.01% of their portfolio SOUTHFIELD, MI 5,3525.4k $341.8k $341.8k 0.01% Reduced -65 -65
73 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 5,3245.3k $340.0k $340.0k 0.00% New
74 Cyndeo Wealth Partners, LLC 0.02% of their portfolio ST. PETERSBURG, FL 5,3205.3k $339.8k $339.8k 0.02% Added +4 +4
75 Ascent Group, LLC 0.01% of their portfolio VIRGINIA BEACH, VA 5,1835.2k $331.0k $331.0k 0.01% Added +120 +120
76 THOROUGHBRED FINANCIAL SERVICES, LLC 0.02% of their portfolio BRENTWOOD, TN 4,9334.9k $315.0k $315.0k 0.02% Reduced -8.1k -8,095
77 Dynasty Wealth Management, LLC 0.01% of their portfolio ST. PETERSBURG, FL 4,8954.9k $312.7k $312.7k 0.01% Added +27 +27
78 LaSalle St. Investment Advisors, LLC 0.08% of their portfolio ELMHURST, IL 4,7914.8k $306.0k $306.0k 0.08% Reduced -1.2k -1,216
79 AVAII WEALTH MANAGEMENT, LLC 0.13% of their portfolio APPLETON, WI 4,5274.5k $289.1k $289.1k 0.13% Reduced -45 -45
80 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 4,2844.3k $276.7k $276.7k 0.00% Reduced -126 -126
81 Signal Advisors Wealth, LLC 0.02% of their portfolio DETROIT, MI 4,2114.2k $268.9k $268.9k 0.02% Reduced -492 -492
82 Foguth Wealth Management, LLC. 0.06% of their portfolio BRIGHTON, MI 4,2114.2k $268.9k $268.9k 0.06% Reduced -616 -616
83 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 4,2104.2k $268.0k $268.0k 0.00% New
84 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.04% of their portfolio CONCORD, MA 4,1624.2k $265.9k $265.9k 0.04% Added +103 +103
85 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 4,1524.2k $265.2k $265.2k 0.01% Added +4.1k +4,065
86 CFO4Life Group, LLC 0.04% of their portfolio COPPELL, TX 4,1184.1k $263.0k $263.0k 0.04% Reduced -150 -150
87 Wood Tarver Financial Group, LLC 0.08% of their portfolio BOISE, ID 4,0844.1k $260.0k $260.0k 0.08% Unchanged
88 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 4,0624.1k $259.4k $259.4k 0.00% Reduced -3.3k -3,326
89 SAGESPRING WEALTH PARTNERS, LLC 0.01% of their portfolio FRANKLIN, TN 4,0204.0k $256.7k $256.7k 0.01% Reduced -6.7k -6,665
90 Glass Jacobson Investment Advisors llc 0.10% of their portfolio OWINGS MILLS, MD 3,9684.0k $253.4k $253.4k 0.10% Added +33 +33
91 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 3,7463.7k $239.3k $239.3k 0.01% Added +111 +111
92 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 3,6523.7k $233.3k $233.3k 0.00% Added +91 +91
93 Mariner, LLC 0.00% of their portfolio Overland Park, KS 3,6473.6k $233.0k $233.0k 0.00% Reduced -247 -247
94 NorthCoast Asset Management LLC 0.00% of their portfolio STAMFORD, CT 3,5003.5k $223.5k $223.5k 0.00% New
95 Kestra Investment Management, LLC 0.00% of their portfolio AUSTIN, TX 3,4973.5k $223.3k $223.3k 0.00% New
96 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 3,4963.5k $223.3k $223.3k 0.01% Reduced -5.9k -5,936
97 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 3,4863.5k $222.7k $222.7k 0.00% Reduced -47 -47
98 FORONJY FINANCIAL LLC 0.10% of their portfolio Los Osos, CA 3,4283.4k $218.9k $218.9k 0.10% First filing
99 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 3,3173.3k $211.8k $211.8k 0.01% Added +176 +176
100 New England Private Wealth Advisors LLC 0.03% of their portfolio WELLESLEY, MA 3,3153.3k $215.2k $215.2k 0.03% New