Vault-13

FIDELITY COVINGTON TRUST FREL

MSCI RL EST ETF · ETP · CUSIP 316092857

213 institutional holders +9 vs Q1 2025
16,367,39116.4m shares reported held*
$444.5mreported value*
19 new 76 added 77 reduced 12 sold out net sold ≈ $10.6m (-710.2k 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 ($288.7k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $27.17.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 192Q4 22: 196Q1 23: 196Q2 23: 200Q3 23: 179Q4 23: 207Q1 24: 204Q2 24: 202Q3 24: 204Q4 24: 212Q1 25: 204Q2 25: 213213Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 2022192
Q4 2022196
Q1 2023196
Q2 2023200
Q3 2023179
Q4 2023207
Q1 2024204
Q2 2024202
Q3 2024204
Q4 2024212
Q1 2025204
Q2 2025213

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 23: 93 bought or addedQ3 23: 86 cut or sold outQ4 23: 97 bought or addedQ4 23: 78 cut or sold outQ4 23Q1 24: 107 bought or addedQ1 24: 83 cut or sold outQ2 24: 97 bought or addedQ2 24: 87 cut or sold outQ2 24Q3 24: 99 bought or addedQ3 24: 84 cut or sold outQ4 24: 104 bought or addedQ4 24: 88 cut or sold outQ4 24Q1 25: 106 bought or addedQ1 25: 83 cut or sold outQ2 25: 95 bought or addedQ2 25: 89 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20239386
Q4 20239778
Q1 202410783
Q2 20249787
Q3 20249984
Q4 202410488
Q1 202510683
Q2 20259589

Biggest buyers

ROYAL BANK OF CANADA Added +107,441+107.4k
Steward Partners Investment Advisory, LLC Added +105,102+105.1k
NorthCoast Asset Management LLC New +102,291+102.3k
Lido Advisors, LLC Added +68,081+68.1k
SUSQUEHANNA INTERNATIONAL GROUP, LLP New +50,346+50.3k
MAI Capital Management Added +42,827+42.8k
LPL Financial LLC Added +30,312+30.3k
Tower Research Capital LLC (TRC) New +29,797+29.8k
CITIZENS & NORTHERN CORP Added +29,642+29.6k
Marotta Asset Management Added +26,008+26.0k

Biggest sellers

ENVESTNET ASSET MANAGEMENT INC Reduced -354,887-354.9k
Demars Financial Group, LLC Reduced -318,868-318.9k
Cetera Investment Advisers Reduced -149,766-149.8k
Advisory Services Network, LLC Reduced -133,536-133.5k
Quadrature Capital Ltd Sold out -98,423-98.4k
PNC Financial Services Group, Inc. Reduced -92,528-92.5k
FORTE ASSET MANAGEMENT LLC Sold out -85,484-85.5k
COMMONWEALTH EQUITY SERVICES, LLC Reduced -64,154-64.2k
Fort Point Capital Partners LLC Reduced -54,618-54.6k
Bank of New York Mellon Corp Reduced -41,156-41.2k

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Lido Advisors, LLC 0.17% of their portfolio Los Angeles, CA 1,221,4081.2m $33.0m $33.0m 0.17% Added +68.1k +68,081
2 PNC Financial Services Group, Inc. 0.02% of their portfolio Pittsburgh, PA 1,122,8031.1m $30.4m $30.4m 0.02% Reduced -92.5k -92,528
3 AE Wealth Management LLC 0.21% of their portfolio TOPEKA, KS 1,037,8751.0m $28.1m $28.1m 0.21% Added +11.8k +11,846
4 CITIZENS & NORTHERN CORP 5.93% of their portfolio WELLSBORO, PA 820,011820.0k $22.2m $22.2m 5.93% Added +29.6k +29,642
5 TRUEFG, LLC 4.85% of their portfolio CEDAR PARK, TX 603,416603.4k $16.3m $16.3m 4.85% Added +16.3k +16,317
6 Black Diamond Financial, LLC 2.38% of their portfolio TOWSON, MD 566,976567.0k $15.3m $15.3m 2.38% Added +783 +783
7 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 532,562532.6k $14.4m $14.4m 0.00% Reduced -354.9k -354,887
8 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 515,523515.5k $13.9m $13.9m 0.02% Reduced -64.2k -64,154
9 Riverpoint Wealth Management Holdings, LLC 2.97% of their portfolio CHICAGO, IL 467,376467.4k $12.6m $12.6m 2.97% Added +17.3k +17,341
10 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 416,893416.9k $11.3m $11.3m 0.01% Added +5.8k +5,822
11 Pure Financial Advisors, LLC 0.20% of their portfolio SAN DIEGO, CA 410,078410.1k $11.1m $11.1m 0.20% Reduced -6.3k -6,331
12 AVANTAX ADVISORY SERVICES, INC. 0.06% of their portfolio DALLAS, TX 404,892404.9k $10.9m $10.9m 0.06% Reduced -9.0k -8,981
13 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 387,771387.8k $10.5m $10.5m 0.00% Added +30.3k +30,312
14 MAI Capital Management 0.07% of their portfolio INDEPENDENCE, OH 380,222380.2k $10.3m $10.3m 0.07% Added +42.8k +42,827
15 AGF MANAGEMENT LTD 0.04% of their portfolio TORONTO, A6 303,151303.2k $8.2m $8.2m 0.04% Added +4.5k +4,473
16 Payne Capital Management, LLC 2.62% of their portfolio New York, NY 251,410251.4k $6.8m $6.8m 2.62% Added +2.3k +2,270
17 Dynamic Advisor Solutions LLC 0.20% of their portfolio PHOENIX, AZ 240,990241.0k $6.5m $6.5m 0.20% Added +6.4k +6,401
18 Heck Capital Advisors, LLC 0.54% of their portfolio Rhinelander, WI 233,877233.9k $6.3m $6.3m 0.54% Added +24.8k +24,812
19 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 229,082229.1k $6.2m $6.2m 0.01% Reduced -20.0k -19,988
20 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 208,107208.1k $5.6m $5.6m 0.01% Reduced -7.6k -7,562
21 Rehmann Capital Advisory Group 0.32% of their portfolio LANSING, MI 198,454198.5k $5.4m $5.4m 0.32% Added +3.0k +3,043
22 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 190,340190.3k $5.1m $5.1m 0.00% Added +107.4k +107,441
23 AMERICAN FINANCIAL & TAX STRATEGIES INC 2.64% of their portfolio NEW YORK, NY 189,228189.2k $5.1m $5.1m 2.64% Added +2.9k +2,860
24 MML INVESTORS SERVICES, LLC 0.01% of their portfolio SPRINGFIELD, MA 184,060184.1k $5.0m $5.0m 0.01% Added +18.6k +18,553
25 Physician Wealth Advisors, Inc. 0.75% of their portfolio MIDVALE, UT 175,488175.5k $4.7m $4.7m 0.75% Reduced -8.6k -8,645
26 Marotta Asset Management 0.91% of their portfolio CHARLOTTESVILLE, VA 167,493167.5k $4.5m $4.5m 0.91% Added +26.0k +26,008
27 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 153,683153.7k $4.2m $4.2m 0.00% Reduced -4.3k -4,334
28 DIVERSIFY WEALTH MANAGEMENT, LLC 0.25% of their portfolio SANDY, UT 150,809150.8k $4.1m $4.1m 0.25% Added +3.3k +3,321
29 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 145,296145.3k $3.9m $3.9m 0.00% Added +853 +853
30 RFG Advisory, LLC 0.09% of their portfolio BIRMINGHAM, AL 137,030137.0k $3.7m $3.7m 0.09% Added +1.3k +1,307
31 Essential Planning, LLC. 1.32% of their portfolio PORTSMOUTH, NH 131,503131.5k $3.6m $3.6m 1.32% Added +2.2k +2,189
32 Financial Engines Advisors L.L.C. 0.01% of their portfolio SANTA CLARA, CA 122,161122.2k $3.3m $3.3m 0.01% Reduced -7.6k -7,647
33 Blue Barn Wealth, LLC 1.54% of their portfolio OREM, UT 120,775120.8k $3.3m $3.3m 1.54% Added +3.7k +3,705
34 Opes Wealth Management LLC 0.58% of their portfolio MENLO PARK, CA 120,698120.7k $3.3m $3.3m 0.58% Added +2.8k +2,846
35 Independent Solutions Wealth Management, LLC 0.61% of their portfolio Williamsville, NY 115,511115.5k $3.1m $3.1m 0.61% Added +844 +844
36 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 112,015112.0k $3.0m $3.0m 0.00% Reduced -2.8k -2,793
37 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 105,892105.9k $2.9m $2.9m 0.02% Added +105.1k +105,102
38 SigFig Wealth Management, LLC 0.09% of their portfolio SAN FRANCISCO, CA 105,737105.7k $2.8m $2.8m 0.09% Reduced -3.1k -3,121
39 NorthCoast Asset Management LLC 0.01% of their portfolio STAMFORD, CT 102,291102.3k $2.8m $2.8m 0.01% New
40 Prospect Financial Group LLC 2.89% of their portfolio ARLINGTON, VA 102,140102.1k $2.8m $2.8m 2.89% Reduced -386 -386
41 UBS Group AG 0.00% of their portfolio ZURICH, V8 98,29298.3k $2.7m $2.7m 0.00% Reduced -30.0k -29,999
42 SACHEM HILL LLC 0.50% of their portfolio DENVER, CO 91,42891.4k $2.5m $2.5m 0.50% Reduced -23.1k -23,071
43 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 74,60874.6k $2.0m $2.0m 0.01% Added +752 +752
44 CW Advisors, LLC 0.02% of their portfolio BOSTON, MA 72,38872.4k $2.0m $2.0m 0.02% Added +12.0k +12,033
45 LODESTAR PRIVATE ASSET MANAGEMENT LLC 0.22% of their portfolio ALAMO, CA 71,75171.8k $1.9m $1.9m 0.22% Added +2.5k +2,455
46 Sachetta, LLC 0.73% of their portfolio LYNNFIELD, MA 68,66268.7k $1.9m $1.9m 0.73% Added +34 +34
47 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 64,87564.9k $1.8m $1.8m 0.00% Reduced -903 -903
48 Asset Management Group, Inc. 0.30% of their portfolio STAMFORD, CT 64,62064.6k $1.7m $1.7m 0.30% Reduced -576 -576
49 NWAM LLC 0.10% of their portfolio MERCER ISLAND, WA 64,36064.4k $1.7m $1.7m 0.10% Reduced -3.3k -3,257
50 Beaumont Financial Advisors, LLC 0.12% of their portfolio NEEDHAM, MA 63,14163.1k $1.7m $1.7m 0.12% Added +1.7k +1,716
51 FIRST NATIONAL CORP /MA/ /ADV 0.34% of their portfolio ROCKLAND, MA 61,83661.8k $1.7m $1.7m 0.34% Reduced -453 -453
52 Marks Group Wealth Management, Inc 0.15% of their portfolio MINNETONKA, MN 61,47861.5k $1.7m $1.7m 0.15% Unchanged
53 Palisades Hudson Asset Management, L.P. 0.65% of their portfolio FORT LAUDERDALE, FL 61,14161.1k $1.7m $1.7m 0.65% Added +777 +777
54 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 59,63959.6k $1.5m $1.5m 0.00% Added +7.8k +7,802
55 Soltis Investment Advisors LLC 0.12% of their portfolio ST. GEORGE, UT 57,60957.6k $1.6m $1.6m 0.12% Added +11 +11
56 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 56,97557.0k $1.5m $1.5m 0.00% Added +14.3k +14,334
57 Atria Wealth Solutions, Inc. 0.03% of their portfolio NEW YORK, NY 55,91755.9k $1.5m $1.5m 0.03% Added +6.5k +6,536
58 RAFFA WEALTH MANAGEMENT, LLC 0.30% of their portfolio WASHINGTON, DC 55,59655.6k $1.5m $1.5m 0.30% Added +4.5k +4,479
59 Eagle Bay Advisors LLC 1.22% of their portfolio NEW YORK, NY 54,63354.6k $1.5m $1.5m 1.22% Reduced -2.1k -2,080
60 Kestra Advisory Services, LLC 0.01% of their portfolio AUSTIN, TX 53,04753.0k $1.4m $1.4m 0.01% Added +7.2k +7,232
61 Tortoise Investment Management, LLC 0.13% of their portfolio WHITE PLAINS, NY 51,25451.3k $1.4m $1.4m 0.13% Reduced -700 -700
62 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 50,34650.3k $1.4m $1.4m 0.00% New
63 Diversify Advisory Services, LLC 0.05% of their portfolio SANDY, UT 50,01150.0k $1.4m $1.4m 0.05% Added +10.6k +10,574
64 Beckerman Institutional, LLC 0.89% of their portfolio OCEAN GROVE, NJ 49,79249.8k $1.3m $1.3m 0.89% Added +14.9k +14,918
65 Caliber Wealth Management, LLC / KS 0.14% of their portfolio Overland Park, KS 48,06648.1k $1.3m $1.3m 0.14% Reduced -2.4k -2,424
66 SUMMIT WEALTH GROUP LLC / CO 0.31% of their portfolio COLORADO SPRINGS, CO 45,36345.4k $1.2m $1.2m 0.31% First filing
67 Full Sail Capital, LLC 0.07% of their portfolio OKLAHOMA CITY, OK 45,11145.1k $1.2m $1.2m 0.07% Reduced -2.1k -2,081
68 Birchcreek Wealth Management, LLC 0.68% of their portfolio MIAMI TOWNSHIP, OH 44,31144.3k $1.2m $1.2m 0.68% Added +3.1k +3,116
69 HF Advisory Group, LLC 0.46% of their portfolio Annapolis, MD 43,20243.2k $1.2m $1.2m 0.46% Reduced -1.6k -1,633
70 Mariner, LLC 0.00% of their portfolio Overland Park, KS 43,18343.2k $1.2m $1.2m 0.00% Reduced -934 -934
71 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 42,41242.4k $1.1m $1.1m 0.00% Reduced -149.8k -149,766
72 Life Planning Partners, Inc 0.91% of their portfolio JACKSONVILLE, FL 42,27742.3k $1.1m $1.1m 0.91% Reduced -598 -598
73 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 41,93241.9k $1.1m $1.1m 0.00% Added +13.7k +13,664
74 Farther Finance Advisors, LLC 0.02% of their portfolio SAN FRANCISCO, CA 41,42741.4k $1.1m $1.1m 0.02% Added +1.2k +1,177
75 21 West Wealth Management LLC 1.09% of their portfolio TUSTIN, CA 39,97240.0k $1.1m $1.1m 1.09% First filing
76 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 39,89139.9k $1.1m $1.1m 0.01% Reduced -2.7k -2,712
77 Glass Jacobson Investment Advisors llc 0.40% of their portfolio OWINGS MILLS, MD 38,75638.8k $1.0m $1.0m 0.40% Added +902 +902
78 J.W. COLE ADVISORS, INC. 0.02% of their portfolio TAMPA, FL 38,68238.7k $1.0m $1.0m 0.02% Added +6.8k +6,834
79 SMITH, MOORE & CO. 0.08% of their portfolio CLAYTON, MO 36,79736.8k $995.0k $995.0k 0.08% Unchanged
80 PKS Advisory Services, LLC 0.23% of their portfolio ALBANY, NY 34,68734.7k $937.9k $937.9k 0.23% Reduced -117 -117
81 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 33,08733.1k $894.7k $894.7k 0.00% Added +20.7k +20,683
82 Rather & Kittrell, Inc. 0.17% of their portfolio Knoxville, TN 32,30032.3k $873.4k $873.4k 0.17% Reduced -254 -254
83 Fort Point Capital Partners LLC 0.09% of their portfolio San Francisco, CA 31,50531.5k $851.9k $851.9k 0.09% Reduced -54.6k -54,618
84 Integrated Investment Consultants, LLC 0.16% of their portfolio BLOOMFIELD HILLS, MI 31,00031.0k $838.2k $838.2k 0.16% Unchanged
85 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 29,79729.8k $805.7k $805.7k 0.02% New
86 BALANCED WEALTH GROUP LLC 0.31% of their portfolio WESTLAKE, OH 26,53326.5k $718.0k $718.0k 0.31% Added +171 +171
87 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 25,81825.8k $698.1k $698.1k 0.00% Added +9.0k +8,992
88 IFP Advisors, Inc 0.02% of their portfolio TAMPA, FL 25,66525.7k $694.0k $694.0k 0.02% Added +131 +131
89 Modern Wealth Management, LLC 0.02% of their portfolio KANSAS CITY, MO 23,57823.6k $637.5k $637.5k 0.02% Added +2.0k +1,973
90 Elevated Capital Advisors, LLC 0.18% of their portfolio SANDY, UT 23,24923.2k $638.7k $638.7k 0.18% Unchanged
91 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 21,25321.3k $575.1k $575.1k 0.01% Reduced -133.5k -133,536
92 Investmark Advisory Group LLC 0.24% of their portfolio Shelton, CT 19,12719.1k $517.2k $517.2k 0.24% Reduced -165 -165
93 Fingerlakes Wealth Management, Inc. 0.34% of their portfolio ITHACA, NY 16,97217.0k $458.9k $458.9k 0.34% Added +1.8k +1,771
94 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 16,96917.0k $458.8k $458.8k 0.00% Reduced -572 -572
95 Smith Salley Wealth Management 0.03% of their portfolio GREENSBORO, NC 16,63316.6k $449.7k $449.7k 0.03% Added +65 +65
96 Snider Financial Group 0.13% of their portfolio BELLEVUE, WA 16,51916.5k $446.7k $446.7k 0.13% Added +432 +432
97 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 15,87415.9k $429.2k $429.2k 0.00% New
98 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 15,70315.7k $424.6k $424.6k 0.00% Reduced -6.8k -6,805
99 Clarity Asset Management, Inc. 0.25% of their portfolio AMES, IA 15,69515.7k $424.4k $424.4k 0.25% Reduced -271 -271
100 Global Retirement Partners, LLC 0.01% of their portfolio San Rafael, CA 15,46415.5k $418.1k $418.1k 0.01% First filing