Vault-13

FIDELITY COVINGTON TRUST FVAL

VLU FACTOR ETF · ETP · CUSIP 316092782

158 institutional holders +9 vs Q1 2026
9,511,6039.5m shares reported held*
$740.3mreported value*
18 new 74 added 39 reduced 9 sold out net bought ≈ $40.8m (+532.2k 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 ($4.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $77.83.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 75Q4 22: 89Q1 23: 77Q2 23: 83Q3 23: 82Q4 23: 104Q1 24: 109Q2 24: 108Q3 24: 117Q4 24: 125Q1 25: 128Q2 25: 131Q3 25: 132Q4 25: 145Q1 26: 149Q2 26: 158158Q3 22Q3 23Q3 24Q3 25Q2 26
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
Q3 2025132
Q4 2025145
Q1 2026149
Q2 2026158

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q3 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 25Q3 25: 70 bought or addedQ3 25: 50 cut or sold outQ4 25: 71 bought or addedQ4 25: 52 cut or sold outQ4 25Q1 26: 89 bought or addedQ1 26: 53 cut or sold outQ2 26: 92 bought or addedQ2 26: 48 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20246932
Q4 20245949
Q1 20257344
Q2 20256854
Q3 20257050
Q4 20257152
Q1 20268953
Q2 20269248

Biggest buyers

COMMONWEALTH EQUITY SERVICES, LLC Added +76,438+76.4k
ENVESTNET ASSET MANAGEMENT INC Added +72,480+72.5k
Cambridge Investment Research Advisors, Inc. Added +51,050+51.0k
Cetera Investment Advisers Added +49,265+49.3k
SteelPeak Wealth, LLC New +42,247+42.2k
Certified Advisory Corp Added +37,834+37.8k
Dynamic Advisor Solutions LLC Added +36,428+36.4k
AXXCESS WEALTH MANAGEMENT, LLC New +27,147+27.1k
JONES FINANCIAL COMPANIES LLLP Added +25,730+25.7k
J.W. COLE ADVISORS, INC. New +19,203+19.2k

Biggest sellers

FMR LLC Reduced -46,088-46.1k
TWO SIGMA INVESTMENTS, LP Sold out -22,800-22.8k
Merit Financial Group, LLC Reduced -15,473-15.5k
GOLDMAN SACHS GROUP INC Reduced -12,893-12.9k
BEACON ADVISORS HOLDINGS, LLC Reduced -10,479-10.5k
PFG Advisors Reduced -10,116-10.1k
Private Advisor Group, LLC Reduced -5,928-5.9k
Ethos Capital Management, Inc. Reduced -5,034-5.0k
Foguth Wealth Management, LLC. Sold out -3,880-3.9k
DIVERSIFY WEALTH MANAGEMENT, LLC Reduced -3,683-3.7k

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio Berwyn, PA 1,772,6971.8m $138.2m $138.2m 0.03% Added +72.5k +72,480
2 FMR LLC 0.01% of their portfolio BOSTON, MA 1,637,6991.6m $127.6m $127.6m 0.01% Reduced -46.1k -46,088
3 High Probability Advisors, LLC 3.70% of their portfolio Pittsford, NY 443,665443.7k $34.6m $34.6m 3.70% Added +19.0k +18,952
4 Dynamic Advisor Solutions LLC 0.74% of their portfolio PHOENIX, AZ 331,727331.7k $25.9m $25.9m 0.74% Added +36.4k +36,428
5 Cetera Investment Advisers 0.02% of their portfolio SCHAUMBURG, IL 330,809330.8k $25.8m $25.8m 0.02% Added +49.3k +49,265
6 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 307,043307.0k $23.9m $23.9m 0.01% Added +16.8k +16,755
7 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 306,081306.1k $23.9m $23.9m 0.00% Added +4.7k +4,705
8 MAI Capital Management 0.09% of their portfolio INDEPENDENCE, OH 294,572294.6k $23.0m $23.0m 0.09% Added +8.0k +7,993
9 COMMONWEALTH EQUITY SERVICES, LLC 0.03% of their portfolio WALTHAM, MA 290,288290.3k $22.6m $22.6m 0.03% Added +76.4k +76,438
10 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 254,515254.5k $19.8m $19.8m 0.02% Added +6.6k +6,599
11 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 222,606222.6k $17.3m $17.3m 0.00% Added +16.1k +16,072
12 Merit Financial Group, LLC 0.10% of their portfolio ALPHARETTA, GA 211,220211.2k $16.5m $16.5m 0.10% Reduced -15.5k -15,473
13 BEACON ADVISORS HOLDINGS, LLC 6.99% of their portfolio AUSTIN, TX 183,209183.2k $14.3m $14.3m 6.99% Reduced -10.5k -10,479
14 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 179,343179.3k $14.0m $14.0m 0.00% Added +6.0k +6,049
15 Kestra Advisory Services, LLC 0.04% of their portfolio AUSTIN, TX 145,218145.2k $11.3m $11.3m 0.04% Reduced -1.8k -1,841
16 JONES FINANCIAL COMPANIES LLLP 0.00% of their portfolio DES PERES, MO 136,513136.5k $10.6m $10.6m 0.00% Added +25.7k +25,730
17 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 131,305131.3k $10.2m $10.2m 0.00% Reduced -302 -302
18 Avidian Wealth Enterprises, LLC 0.28% of their portfolio Houston, TX 129,437129.4k $10.1m $10.1m 0.28% Added +2.7k +2,653
19 KESTRA PRIVATE WEALTH SERVICES, LLC 0.11% of their portfolio AUSTIN, TX 128,094128.1k $10.0m $10.0m 0.11% Added +11.0k +10,982
20 Custos Family Office, LLC 5.77% of their portfolio AUSTIN, TX 123,100123.1k $9.6m $9.6m 5.77% Added +488 +488
21 CONDOR CAPITAL MANAGEMENT 0.70% of their portfolio MARTINSVILLE, NJ 118,961119.0k $9.3m $9.3m 0.70% Added +2.2k +2,248
22 SAX WEALTH ADVISORS, LLC 0.31% of their portfolio PARSIPPANY, NJ 110,577110.6k $7.7m $7.7m 0.31% Reduced -3.2k -3,221
23 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 106,907106.9k $8.3m $8.3m 0.00% Added +276 +276
24 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 100,066100.1k $7.8m $7.8m 0.01% Added +51.0k +51,050
25 Goodwin Investment Advisory 14.09% of their portfolio WOODSTOCK, GA 89,74789.7k $7.0m $7.0m 14.09% Added +10.2k +10,162
26 Thrivent Financial for Lutherans 0.01% of their portfolio Minneapolis, MN 76,96477.0k $6.0m $6.0m 0.01% Added +1.1k +1,147
27 Cedar Point Capital Partners, LLC 2.92% of their portfolio Cedar Rapids, IA 65,13765.1k $5.1m $5.1m 2.92% Added +1.9k +1,923
28 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 61,22661.2k $4.8m $4.8m 0.00% Added +7.3k +7,326
29 Certified Advisory Corp 0.31% of their portfolio ALTAMONTE SPRINGS, FL 50,09350.1k $3.9m $3.9m 0.31% Added +37.8k +37,834
30 Cambria Investment Management, L.P. 0.18% of their portfolio Manhattan Beach, CA 47,38447.4k $3.7m $3.7m 0.18% Reduced -417 -417
31 Empowered Funds, LLC 0.02% of their portfolio NEWTOWN SQUARE, PA 47,38447.4k $3.7m $3.7m 0.02% Reduced -417 -417
32 PRIMORIS WEALTH ADVISORS, LLC 1.66% of their portfolio North Palm Beach, FL 46,79846.8k $3.6m $3.6m 1.66% Added +1.2k +1,175
33 ALTFEST L J & CO INC 0.33% of their portfolio NEW YORK, NY 44,15944.2k $3.4m $3.4m 0.33% Reduced -915 -915
34 SteelPeak Wealth, LLC 0.09% of their portfolio WOODLAND HILLS, CA 42,24742.2k $3.3m $3.3m 0.09% New
35 Bouvel Investment Partners, LLC 0.69% of their portfolio PHOENIXVILLE, PA 39,34939.3k $3.1m $3.1m 0.69% Reduced -1.8k -1,798
36 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 39,27839.3k $3.1m $3.1m 0.02% Added +383 +383
37 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 38,17538.2k $3.0m $3.0m 0.00% Reduced -3.5k -3,499
38 Prism Advisors, Inc. 0.63% of their portfolio STUDIO CITY, CA 33,18533.2k $2.6m $2.6m 0.63% Reduced -7 -7
39 PFG Advisors 0.11% of their portfolio Phoenix, AZ 29,26329.3k $2.3m $2.3m 0.11% Reduced -10.1k -10,116
40 AXXCESS WEALTH MANAGEMENT, LLC 0.03% of their portfolio CARLSBAD, CA 27,14727.1k $2.1m $2.1m 0.03% New
41 Darwin Wealth Management, LLC 0.58% of their portfolio TAMPA, FL 27,14627.1k $2.1m $2.1m 0.58% Added +1.3k +1,288
42 Strategic Blueprint, LLC 0.10% of their portfolio ATLANTA, GA 26,66526.7k $2.1m $2.1m 0.10% Added +1.7k +1,663
43 B. Riley Wealth Advisors, Inc. 0.11% of their portfolio MEMPHIS, TN 24,93724.9k $1.9m $1.9m 0.11% Added +3.9k +3,871
44 Forbes Financial Planning, Inc. 1.03% of their portfolio EAST GREENWICH, RI 24,62724.6k $1.9m $1.9m 1.03% Reduced -119 -119
45 MML INVESTORS SERVICES, LLC 0.00% of their portfolio SPRINGFIELD, MA 24,59924.6k $1.9m $1.9m 0.00% Added +5.1k +5,118
46 Envestnet Portfolio Solutions, Inc. 0.01% of their portfolio BERWYN, PA 22,89422.9k $1.8m $1.8m 0.01% Added +607 +607
47 Orion Porfolio Solutions, LLC 0.01% of their portfolio OMAHA, NE 22,08022.1k $1.7m $1.7m 0.01% Added +128 +128
48 AE Wealth Management LLC 0.01% of their portfolio TOPEKA, KS 20,34120.3k $1.6m $1.6m 0.01% Added +2.5k +2,458
49 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 20,24120.2k $1.6m $1.6m 0.00% Added +9.7k +9,726
50 J.W. COLE ADVISORS, INC. 0.03% of their portfolio TAMPA, FL 19,20319.2k $1.5m $1.5m 0.03% New
51 Spectrum Investment Advisors, Inc. 0.60% of their portfolio MEQUON, WI 18,86018.9k $1.5m $1.5m 0.60% Added +2.7k +2,687
52 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 18,70918.7k $1.5m $1.5m 0.00% Reduced -12.9k -12,893
53 GTS SECURITIES LLC 0.03% of their portfolio NEW YORK, NY 18,19218.2k $1.4m $1.4m 0.03% New
54 Traub Capital Management LLC 1.22% of their portfolio NEEDHAM, MA 17,60517.6k $1.4m $1.4m 1.22% Reduced -743 -743
55 LVZ, Inc. 0.14% of their portfolio Holland, MI 17,43317.4k $1.4m $1.4m 0.14% New
56 BlackRock, Inc. 0.00% of their portfolio New York, NY 17,15117.2k $1.3m $1.3m 0.00% Unchanged
57 SCHMIDT P J INVESTMENT MANAGEMENT INC 0.21% of their portfolio CEDARBURG, WI 17,06217.1k $1.3m $1.3m 0.21% Reduced -167 -167
58 Sigma Planning Corp 0.03% of their portfolio ANN ARBOR, MI 16,30816.3k $1.3m $1.3m 0.03% Reduced -248 -248
59 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 15,02315.0k $1.2m $1.2m 0.00% Added +2.6k +2,644
60 Valmark Advisers, Inc. 0.01% of their portfolio AKRON, OH 14,80714.8k $1.2m $1.2m 0.01% Reduced -1.6k -1,573
61 Montis Financial, LLC 0.20% of their portfolio WALTHAM, MA 12,47312.5k $972.1k $972.1k 0.20% Reduced -127 -127
62 Ethos Capital Management, Inc. 0.66% of their portfolio NEWTOWN, PA 11,97612.0k $933.3k $933.3k 0.66% Reduced -5.0k -5,034
63 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 11,37211.4k $903.0k $903.0k 0.00% Added +592 +592
64 Cullen/Frost Bankers, Inc. 0.01% of their portfolio San Antonio, TX 10,65310.7k $830.2k $830.2k 0.01% Added +1.1k +1,088
65 FLAGSHIP WEALTH ADVISORS, LLC 0.18% of their portfolio WAKEFIELD, MA 10,12010.1k $788.7k $788.7k 0.18% New
66 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 9,9329.9k $774.0k $774.0k 0.00% Added +141 +141
67 Ballast Financial Advisors LLC 0.69% of their portfolio WEST CHESTER, PA 9,7169.7k $757.2k $757.2k 0.69% Added +412 +412
68 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 9,5179.5k $768.3k $768.3k 0.00% Added +9.5k +9,486
69 Samalin Investment Counsel, LLC 0.23% of their portfolio CHAPPAQUA, NY 9,2469.2k $720.6k $720.6k 0.23% Added +6 +6
70 GWN SECURITIES INC. 0.11% of their portfolio Palm Beach Gardens, FL 8,7978.8k $685.6k $685.6k 0.11% Added +85 +85
71 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 8,6118.6k $671.1k $671.1k 0.00% Added +1.4k +1,351
72 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 8,4118.4k $655.5k $655.5k 0.00% Added +369 +369
73 Diversify Advisory Services, LLC 0.01% of their portfolio SANDY, UT 8,2818.3k $659.3k $659.3k 0.01% New
74 DIVERSIFY WEALTH MANAGEMENT, LLC 0.01% of their portfolio SANDY, UT 8,2818.3k $659.3k $659.3k 0.01% Reduced -3.7k -3,683
75 Kovack Advisors, Inc. 0.03% of their portfolio FT. LAUDERDALE, FL 8,2128.2k $640.0k $640.0k 0.03% Added +393 +393
76 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 8,1668.2k $636.4k $636.4k 0.00% Reduced -399 -399
77 Equitable Holdings, Inc. 0.00% of their portfolio NEW YORK, NY 8,0958.1k $630.8k $630.8k 0.00% Added +1.8k +1,819
78 Midwest Financial Network, LLC 0.43% of their portfolio TINLEY PARK, IL 8,0708.1k $629.3k $629.3k 0.43% New
79 OneDigital Investment Advisors LLC 0.01% of their portfolio OVERLAND PARK, KS 8,0458.0k $626.9k $626.9k 0.01% New
80 World Investment Advisors 0.01% of their portfolio LINCROFT, NJ 6,9697.0k $542.0k $542.0k 0.01% Unchanged
81 Storen Legacy Partners, LLC 0.14% of their portfolio ZIONSVILLE, IN 6,6936.7k $521.6k $521.6k 0.14% Unchanged
82 Ameritas Advisory Services, LLC 0.01% of their portfolio Lincoln, NE 6,6636.7k $519.3k $519.3k 0.01% New
83 Mariner, LLC 0.00% of their portfolio Overland Park, KS 6,4866.5k $505.4k $505.4k 0.00% Added +172 +172
84 Mutual Advisors, LLC 0.01% of their portfolio OMAHA, NE 6,4036.4k $499.0k $499.0k 0.01% Added +22 +22
85 Concord Wealth Partners 0.06% of their portfolio ABINGDON, VA 6,2506.2k $487.1k $487.1k 0.06% Added +23 +23
86 Sequoia Financial Advisors, LLC 0.00% of their portfolio Akron, OH 6,1826.2k $481.8k $481.8k 0.00% Added +23 +23
87 Principle Wealth Partners LLC 0.02% of their portfolio MADISON, CT 6,1676.2k $480.6k $480.6k 0.02% Unchanged
88 Prepared Retirement Institute LLC 0.20% of their portfolio LANSDALE, PA 6,1576.2k $479.8k $479.8k 0.20% Added +24 +24
89 Ascent Group, LLC 0.01% of their portfolio VIRGINIA BEACH, VA 6,0876.1k $474.4k $474.4k 0.01% Added +967 +967
90 Global Retirement Partners, LLC 0.01% of their portfolio San Rafael, CA 5,5645.6k $433.7k $433.7k 0.01% First filing
91 HARBOUR INVESTMENTS, INC. 0.01% of their portfolio MADISON, WI 5,3845.4k $419.6k $419.6k 0.01% Added +3.3k +3,306
92 THOROUGHBRED FINANCIAL SERVICES, LLC 0.02% of their portfolio BRENTWOOD, TN 5,3745.4k $418.0k $418.0k 0.02% Reduced -3.3k -3,302
93 Capital Analysts, LLC 0.01% of their portfolio FORT WASHINGTON, PA 5,3065.3k $414.0k $414.0k 0.01% Added +786 +786
94 RCS Financial Planning, LLC 0.19% of their portfolio ANNAPOLIS, MD 5,2185.2k $406.7k $406.7k 0.19% New
95 Cyndeo Wealth Partners, LLC 0.02% of their portfolio ST. PETERSBURG, FL 5,1415.1k $400.7k $400.7k 0.02% Unchanged
96 Quantinno Capital Management LP 0.00% of their portfolio NEW YORK, NY 4,7564.8k $370.7k $370.7k 0.00% Added +917 +917
97 Advisory Services Network, LLC 0.00% of their portfolio ATLANTA, GA 4,7184.7k $367.7k $367.7k 0.00% Added +81 +81
98 Arkadios Wealth Advisors 0.01% of their portfolio ATLANTA, GA 4,6194.6k $360.0k $360.0k 0.01% Unchanged
99 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 4,5884.6k $357.4k $357.4k 0.00% Added +1.2k +1,219
100 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.04% of their portfolio CONCORD, MA 4,4944.5k $350.2k $350.2k 0.04% Added +2 +2