Vault-13

FIDELITY COVINGTON TRUST FREL

MSCI RL EST ETF · ETP · CUSIP 316092857

205 institutional holders -10 vs Q4 2025
28,791,16128.8m shares reported held*
$775.4mreported value*
16 new 94 added 51 reduced 23 sold out net bought ≈ $261.5m (+9.7m 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 ($21.9k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $26.93.

Trends to Q1 2026

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: 213Q3 25: 212Q4 25: 215Q1 26: 205205Q3 22Q3 23Q3 24Q3 25Q1 26
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
Q3 2025212
Q4 2025215
Q1 2026205

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q2 24: 97 bought or addedQ2 24: 87 cut or sold outQ3 24: 99 bought or addedQ3 24: 84 cut or sold outQ3 24Q4 24: 104 bought or addedQ4 24: 88 cut or sold outQ1 25: 106 bought or addedQ1 25: 83 cut or sold outQ1 25Q2 25: 95 bought or addedQ2 25: 89 cut or sold outQ3 25: 120 bought or addedQ3 25: 71 cut or sold outQ3 25Q4 25: 122 bought or addedQ4 25: 75 cut or sold outQ1 26: 110 bought or addedQ1 26: 74 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q2 20249787
Q3 20249984
Q4 202410488
Q1 202510683
Q2 20259589
Q3 202512071
Q4 202512275
Q1 202611074

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +10,228,250+10.2m
TWO SIGMA INVESTMENTS, LP Added +260,100+260.1k
Pasadena Private Wealth, LLC New +220,576+220.6k
LPL Financial LLC Added +171,095+171.1k
ENVESTNET ASSET MANAGEMENT INC Added +139,859+139.9k
DIVERSIFY WEALTH MANAGEMENT, LLC Added +109,052+109.1k
MAI Capital Management Added +83,319+83.3k
Black Diamond Financial, LLC Added +74,464+74.5k
Mariner, LLC Added +69,519+69.5k
UBS Group AG Added +63,594+63.6k

Biggest sellers

AE Wealth Management LLC Reduced -1,367,388-1.4m
Lido Advisors, LLC Reduced -178,779-178.8k
PNC Financial Services Group, Inc. Reduced -160,198-160.2k
Diversify Advisory Services, LLC Sold out -72,313-72.3k
NorthCoast Asset Management LLC Sold out -55,517-55.5k
Cetera Investment Advisers Reduced -53,177-53.2k
J.W. COLE ADVISORS, INC. Sold out -39,002-39.0k
Mach-1 Financial Group, LLC Sold out -38,585-38.6k
Elevated Capital Advisors, LLC Reduced -31,255-31.3k
OSAIC HOLDINGS, INC. Reduced -30,024-30.0k

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 10,268,64310.3m $276.3m $276.3m 0.02% Added +10.2m +10,228,250
2 Lido Advisors, LLC 0.12% of their portfolio Los Angeles, CA 1,158,6181.2m $31.2m $31.2m 0.12% Reduced -178.8k -178,779
3 CITIZENS & NORTHERN CORP 7.52% of their portfolio WELLSBORO, PA 1,119,9331.1m $30.1m $30.1m 7.52% Added +32.9k +32,862
4 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 963,333963.3k $25.9m $25.9m 0.01% Added +139.9k +139,859
5 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.01% of their portfolio MILWAUKEE, WI 850,355850.4k $22.9m $22.9m 0.01% Added +34.6k +34,617
6 Black Diamond Financial, LLC 2.43% of their portfolio TOWSON, MD 827,301827.3k $22.3m $22.3m 2.43% Added +74.5k +74,464
7 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 701,032701.0k $18.9m $18.9m 0.01% Reduced -160.2k -160,198
8 TRUEFG, LLC 4.93% of their portfolio CEDAR PARK, TX 691,622691.6k $18.6m $18.6m 4.93% Added +25.6k +25,644
9 MAI Capital Management 0.11% of their portfolio INDEPENDENCE, OH 690,011690.0k $18.6m $18.6m 0.11% Added +83.3k +83,319
10 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 588,435588.4k $15.8m $15.8m 0.00% Added +171.1k +171,095
11 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 575,000575.0k $15.5m $15.5m 0.01% Added +260.1k +260,100
12 Riverpoint Wealth Management Holdings, LLC 3.18% of their portfolio CHICAGO, IL 555,858555.9k $15.0m $15.0m 3.18% Added +30.1k +30,075
13 COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio WALTHAM, MA 552,912552.9k $14.9m $14.9m 0.02% Added +20.2k +20,233
14 Pure Financial Advisors, LLC 0.15% of their portfolio SAN DIEGO, CA 386,688386.7k $10.4m $10.4m 0.15% Reduced -11.0k -11,034
15 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 377,838377.8k $10.2m $10.2m 0.01% Reduced -53.2k -53,177
16 DIVERSIFY WEALTH MANAGEMENT, LLC 0.17% of their portfolio SANDY, UT 329,694329.7k $9.5m $9.5m 0.17% Added +109.1k +109,052
17 Payne Capital Management, LLC 2.55% of their portfolio New York, NY 312,330312.3k $8.4m $8.4m 2.55% Added +14.5k +14,504
18 Marotta Asset Management 1.26% of their portfolio CHARLOTTESVILLE, VA 252,566252.6k $6.8m $6.8m 1.26% Added +35.1k +35,105
19 AE Wealth Management LLC 0.04% of their portfolio TOPEKA, KS 247,230247.2k $6.7m $6.7m 0.04% Reduced -1.4m -1,367,388
20 Rehmann Capital Advisory Group 0.34% of their portfolio LANSING, MI 240,190240.2k $6.5m $6.5m 0.34% Added +8.3k +8,331
21 Heck Capital Advisors, LLC 0.47% of their portfolio Rhinelander, WI 235,930235.9k $6.3m $6.3m 0.47% Added +41 +41
22 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 234,340234.3k $6.3m $6.3m 0.01% Reduced -30.0k -30,024
23 Pasadena Private Wealth, LLC 0.82% of their portfolio PASADENA, CA 220,576220.6k $5.9m $5.9m 0.82% New
24 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 215,674215.7k $5.8m $5.8m 0.02% Reduced -17.4k -17,371
25 AGF MANAGEMENT LTD 0.03% of their portfolio TORONTO, A6 213,426213.4k $5.7m $5.7m 0.03% Added +2.9k +2,864
26 Creative Planning 0.00% of their portfolio OVERLAND PARK, KS 212,107212.1k $5.7m $5.7m 0.00% Reduced -12.3k -12,278
27 Dynamic Advisor Solutions LLC 0.18% of their portfolio PHOENIX, AZ 208,822208.8k $5.6m $5.6m 0.18% Added +4.0k +3,989
28 AMERICAN FINANCIAL & TAX STRATEGIES INC 2.61% of their portfolio NEW YORK, NY 199,741199.7k $5.4m $5.4m 2.61% Reduced -1.1k -1,104
29 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 181,647181.6k $4.9m $4.9m 0.00% Added +15.0k +15,017
30 Townsend Financial Planning, LLC 4.46% of their portfolio MT STERLING, KY 171,333171.3k $4.6m $4.6m 4.46% Added +3.1k +3,087
31 RFG Advisory, LLC 0.08% of their portfolio BIRMINGHAM, AL 160,655160.7k $4.3m $4.3m 0.08% Added +8.1k +8,091
32 Physician Wealth Advisors, Inc. 0.60% of their portfolio MIDVALE, UT 159,940159.9k $4.3m $4.3m 0.60% Reduced -296 -296
33 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 155,854155.9k $4.2m $4.2m 0.00% Added +8.8k +8,830
34 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 149,017149.0k $4.0m $4.0m 0.00% Added +9.9k +9,910
35 UBS Group AG 0.00% of their portfolio ZURICH, V8 145,021145.0k $3.9m $3.9m 0.00% Added +63.6k +63,594
36 Essential Planning, LLC. 1.15% of their portfolio PORTSMOUTH, NH 134,920134.9k $3.6m $3.6m 1.15% Added +1.1k +1,139
37 Financial Engines Advisors L.L.C. 0.01% of their portfolio SANTA CLARA, CA 134,417134.4k $3.6m $3.6m 0.01% Added +1.7k +1,655
38 Opes Wealth Management LLC 0.61% of their portfolio MENLO PARK, CA 133,774133.8k $3.6m $3.6m 0.61% Added +5.1k +5,089
39 Steward Partners Investment Advisory, LLC 0.02% of their portfolio STAMFORD, CT 126,162126.2k $3.4m $3.4m 0.02% Added +9.2k +9,208
40 Mariner, LLC 0.00% of their portfolio Overland Park, KS 124,677124.7k $3.4m $3.4m 0.00% Added +69.5k +69,519
41 Prospect Financial Group LLC 2.91% of their portfolio ARLINGTON, VA 116,981117.0k $3.1m $3.1m 2.91% Added +4.2k +4,244
42 SigFig Wealth Management, LLC 0.09% of their portfolio SAN FRANCISCO, CA 114,594114.6k $3.1m $3.1m 0.09% Reduced -1.5k -1,480
43 Independent Solutions Wealth Management, LLC 0.45% of their portfolio Williamsville, NY 114,305114.3k $3.1m $3.1m 0.45% Added +1.4k +1,418
44 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 104,458104.5k $2.8m $2.8m 0.00% Reduced -6.6k -6,603
45 Cambridge Investment Research Advisors, Inc. 0.01% of their portfolio FAIRFIELD, IA 97,28297.3k $2.6m $2.6m 0.01% Added +10.7k +10,692
46 PARK AVENUE SECURITIES LLC 0.02% of their portfolio NEW YORK, NY 92,52892.5k $2.5m $2.5m 0.02% Reduced -7.6k -7,591
47 SACHEM HILL LLC 0.47% of their portfolio DENVER, CO 90,64890.6k $2.4m $2.4m 0.47% Added +1.8k +1,809
48 Livet Wealth, LLC 1.49% of their portfolio SALT LAKE CITY, UT 87,20287.2k $2.3m $2.3m 1.49% Added +4.8k +4,793
49 LODESTAR PRIVATE ASSET MANAGEMENT LLC 0.22% of their portfolio ALAMO, CA 81,67681.7k $2.2m $2.2m 0.22% Added +5.1k +5,097
50 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 79,16079.2k $2.1m $2.1m 0.00% Added +35.6k +35,648
51 NWAM LLC 0.12% of their portfolio MERCER ISLAND, WA 76,61676.6k $2.1m $2.1m 0.12% Added +6.5k +6,476
52 Sachetta, LLC 1.08% of their portfolio LYNNFIELD, MA 74,22074.2k $2.0m $2.0m 1.08% Added +3.8k +3,752
53 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 73,29273.3k $2.0m $2.0m 0.00% Added +9.8k +9,752
54 RAFFA WEALTH MANAGEMENT, LLC 0.30% of their portfolio WASHINGTON, DC 70,43270.4k $1.9m $1.9m 0.30% Added +7.6k +7,608
55 Beckerman Institutional, LLC 1.00% of their portfolio OCEAN GROVE, NJ 70,10870.1k $1.9m $1.9m 1.00% Added +4.8k +4,837
56 Fifth Third Securities, Inc. 0.11% of their portfolio Cincinnati, OH 65,07665.1k $1.8m $1.8m 0.11% Added +2.0k +2,036
57 Palisades Hudson Asset Management, L.P. 0.66% of their portfolio FORT LAUDERDALE, FL 62,68462.7k $1.7m $1.7m 0.66% Added +527 +527
58 Asset Management Group, Inc. 0.27% of their portfolio STAMFORD, CT 62,64462.6k $1.7m $1.7m 0.27% Added +335 +335
59 Beaumont Financial Advisors, LLC 0.11% of their portfolio NEEDHAM, MA 60,95861.0k $1.6m $1.6m 0.11% Added +7.7k +7,657
60 Tortoise Investment Management, LLC 0.13% of their portfolio WHITE PLAINS, NY 58,52458.5k $1.6m $1.6m 0.13% Added +7.2k +7,150
61 Farther Finance Advisors, LLC 0.01% of their portfolio SAN FRANCISCO, CA 57,76857.8k $1.6m $1.6m 0.01% Added +7.3k +7,261
62 Birchcreek Wealth Management, LLC 0.74% of their portfolio MIAMI TOWNSHIP, OH 57,27657.3k $1.5m $1.5m 0.74% Added +1.0k +1,033
63 Marks Group Wealth Management, Inc 0.14% of their portfolio MINNETONKA, MN 55,55955.6k $1.5m $1.5m 0.14% Unchanged
64 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 55,20855.2k $1.5m $1.5m 0.00% Added +32.9k +32,876
65 Savvy Advisors, Inc. 0.04% of their portfolio NEW YORK, NY 54,83754.8k $1.5m $1.5m 0.04% New
66 Soltis Investment Advisors LLC 0.10% of their portfolio ST. GEORGE, UT 54,68954.7k $1.5m $1.5m 0.10% Added +426 +426
67 Eagle Bay Advisors LLC 1.30% of their portfolio NEW YORK, NY 54,65554.7k $1.5m $1.5m 1.30% Reduced -604 -604
68 HF Advisory Group, LLC 0.49% of their portfolio Annapolis, MD 53,79453.8k $1.4m $1.4m 0.49% Added +5.0k +5,025
69 SUMMIT WEALTH GROUP LLC / CO 0.15% of their portfolio COLORADO SPRINGS, CO 53,26553.3k $1.5m $1.5m 0.15% Added +7.8k +7,765
70 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 48,21248.2k $1.3m $1.3m 0.00% Reduced -20.1k -20,058
71 Atria Investments, Inc 0.01% of their portfolio Charlotte, NC 47,98148.0k $1.3m $1.3m 0.01% Reduced -665 -665
72 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 47,53347.5k $1.3m $1.3m 0.00% Added +2.7k +2,692
73 21 West Wealth Management LLC 1.12% of their portfolio TUSTIN, CA 44,71444.7k $1.2m $1.2m 1.12% Added +1.2k +1,237
74 Life Planning Partners, Inc 0.84% of their portfolio JACKSONVILLE, FL 40,89240.9k $1.1m $1.1m 0.84% Reduced -746 -746
75 SMITH, MOORE & CO. 0.08% of their portfolio CLAYTON, MO 40,28140.3k $1.1m $1.1m 0.08% Unchanged
76 Private Advisor Group, LLC 0.00% of their portfolio MORRISTOWN, NJ 36,03636.0k $969.7k $969.7k 0.00% Reduced -203 -203
77 Glass Jacobson Investment Advisors llc 0.32% of their portfolio OWINGS MILLS, MD 34,86934.9k $938.3k $938.3k 0.32% Reduced -19 -19
78 PKS Advisory Services, LLC 0.21% of their portfolio ALBANY, NY 34,11834.1k $918.1k $918.1k 0.21% Added +382 +382
79 Rather & Kittrell, Inc. 0.14% of their portfolio Knoxville, TN 33,60633.6k $904.3k $904.3k 0.14% Added +45 +45
80 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 33,03333.0k $876.4k $876.4k 0.00% Reduced -3.2k -3,174
81 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 32,10032.1k $863.8k $863.8k 0.00% New
82 Northwest Wealth Advisors, LLC 0.60% of their portfolio BELLINGHAM, WA 31,36131.4k $843.9k $843.9k 0.60% Added +5.7k +5,692
83 INTEGRATED CAPITAL MANAGEMENT, INC. 0.56% of their portfolio JESSUP, PA 31,26431.3k $841.3k $841.3k 0.56% Reduced -1.2k -1,223
84 Integrated Investment Consultants, LLC 0.18% of their portfolio BLOOMFIELD HILLS, MI 31,00031.0k $834.2k $834.2k 0.18% Unchanged
85 Fort Point Capital Partners LLC 0.11% of their portfolio San Francisco, CA 29,92729.9k $805.3k $805.3k 0.11% Reduced -398 -398
86 Sunbelt Securities, Inc. 0.05% of their portfolio HOUSTON, TX 29,78929.8k $801.6k $801.6k 0.05% Added +12.7k +12,747
87 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.00% of their portfolio Stamford, CT 29,13229.1k $783.9k $783.9k 0.00% Added +5.6k +5,643
88 Tower Research Capital LLC (TRC) 0.02% of their portfolio NEW YORK, NY 28,17228.2k $758.1k $758.1k 0.02% Added +3.8k +3,827
89 BALANCED WEALTH GROUP LLC 0.27% of their portfolio WESTLAKE, OH 28,12328.1k $756.8k $756.8k 0.27% Added +1.4k +1,372
90 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 26,91826.9k $724.4k $724.4k 0.00% New
91 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 26,54326.5k $714.3k $714.3k 0.00% Reduced -13.2k -13,172
92 Gladstone Institutional Advisory LLC 0.03% of their portfolio Bedminster, NJ 25,16025.2k $677.1k $677.1k 0.03% Added +6.2k +6,235
93 New England Private Wealth Advisors LLC 0.08% of their portfolio WELLESLEY, MA 25,03225.0k $673.6k $673.6k 0.08% Added +231 +231
94 IFP Advisors, Inc 0.01% of their portfolio TAMPA, FL 24,91724.9k $670.5k $670.5k 0.01% Reduced -375 -375
95 Fingerlakes Wealth Management, Inc. 0.43% of their portfolio ITHACA, NY 24,06324.1k $647.5k $647.5k 0.43% Added +2.6k +2,578
96 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 23,94923.9k $644.5k $644.5k 0.00% Added +7.0k +7,043
97 Galvin, Gaustad & Stein, LLC 0.04% of their portfolio Scottsdale, AZ 19,89119.9k $535.3k $535.3k 0.04% Added +91 +91
98 Larson Financial Group LLC 0.02% of their portfolio ST LOUIS, MO 19,50519.5k $524.9k $524.9k 0.02% Added +1.2k +1,187
99 Investmark Advisory Group LLC 0.22% of their portfolio Shelton, CT 19,30719.3k $519.6k $519.6k 0.22% Added +606 +606
100 Advisory Services Network, LLC 0.01% of their portfolio ATLANTA, GA 17,15417.2k $461.6k $461.6k 0.01% Reduced -410 -410