Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

FIDELITY COVINGTON TRUST (FBCG)

235 + Investors. Track Smart Money conviction in FBCG. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +36
Streak
5Q ▲
Buyers last Q
68%

Smart Money Signals — FBCG

Based on 235 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 5 quarters in a row

last 6Q
For 5 consecutive quarters, more hedge funds added FBCG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
235 hedge funds hold FBCG right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +42% more funds vs a year ago

fund count last 6Q
+69 new funds entered over the past year (+42% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 68% buying

152 buying70 selling
Last quarter: 152 funds were net buyers (53 opened a brand new position + 99 added to an existing one). Only 70 were sellers (53 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+16 vs last Q)

new funds entering per quarter
Funds opening a new FBCG position: 37 → 30 → 37 → 53. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
📌

Mixed — 30% long-term, 32% new

■ 30% conviction (2yr+) ■ 38% medium ■ 32% new
Of the 235 current holders: 70 (30%) held >2 years, 90 held 1–2 years, and 75 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
💰

Value +477% but shares only +39% — price-driven

Value
+477%
Shares
+39%
Last quarter: the total dollar value of institutional holdings rose +477%, but actual share count only changed +39%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
📈

Growing discovery — still being found

47 → 37 → 30 → 37 → 53 new funds/Q
New funds entering each quarter: 37 → 30 → 37 → 53. A growing number of institutions are discovering FBCG each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 27% veterans, 49% new entrants

■ 27% veterans ■ 24% 1-2yr ■ 49% new
Of 235 current holders: 64 (27%) held 2+ years, 56 held 1–2 years, 115 (49%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋

Smaller funds dominant — 11% AUM from top-100

11% from top-100 AUM funds
16 of 235 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.3
out of 10
Moderate Exit Risk
Exit risk score 4.3/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Hedge Fund Ownership: FBCG

How many hedge funds hold FBCG — quarterly history vs. share price
Quarterly hedge fund ownership of FBCG vs. share price

Market Analysis: FBCG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FBCG

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

19 top-rated funds 18 high-conviction
Consensus
5.6
/ 10
breadth
×
Elite
4.2
/ 10
conviction
Hedge Fund Positioning: FBCG
2026 Q1 Stats Unlock in 10 days 235 + Investors

Track Smart Money conviction in FBCG. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 235 199 18.09%
13F Shares 88M 63M 39.42%
Total Value $19.47B $3.37B 477.22%
New Positions 53 37 +16
Increased Positions 99 85 +14
Closed Positions 17 22 -5
Reduced Positions 53 44 +9
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FBCG

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

235 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in FBCG. Verified SEC 13F-HR filings.

Top 25 institutional holders of FBCG — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Storgate, LLC 24.07% 612,060 $30.7M
2 Clarity Retirement & Wealth, LLC 18.14% 448,744 $22.5M
3 ACCREDITED INVESTOR SERVICES, LLC 15.07% 468,312 $23.5M
4 Sowa Financial Group, Inc. 14.94% 601,668 $30.2M
5 Keenan, LLC 13.82% 321,903 $16.4M
6 BG Investment Services, LLC 13.53% 325,360 $16.3M
7 KFA Private Wealth Group, LLC 12.64% 1,050,372 $52.6M
8 Align Financial, LLC 7.98% 280,091 $14.0M
9 Centerline Wealth Advisors, LLC 7.96% 441,452 $22.1M
10 ARWA LLC 6.42% 241,771 $13.0M
11 Salus Financial Advisors, LLC 6.04% 206,806 $10.4M
12 Advantage Trust Co 5.27% 234,419 $11.7M
13 SAGESPRING WEALTH PARTNERS, LLC 5.15% 5,642,044 $282.8M
14 Portfolio Strategies, Inc. 4.61% 746,596 $37.4M
15 DAHRING | CUSMANO LLC 4.21% 136,702 $6.9M
16 Storen Legacy Partners, LLC 4.12% 262,099 $13.1M
17 Dedeker Financial LLC 3.82% 87,512 $4.4M
18 Roxbury Financial LLC 3.66% 81,320 $4.1M
19 UNIQUE WEALTH, LLC 2.76% 397,856 $19.9M
20 Wealth Quarterback LLC 2.42% 122,407 $6.1M
21 AssuredPartners Investment Advisors, LLC 2.33% 416,693 $21.4M
22 MN Wealth Advisors, LLC 2.24% 91,765 $4.6M
23 CLEAR INVESTMENT RESEARCH, LLC 2.18% 27,831 $1.4M
24 Holos Integrated Wealth LLC 2.11% 81,193 $4.2M
25 Wagner Wealth Management, Corp 1.91% 42,446 $2.1M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — FIDELITY COVINGTON TRUST (FBCG)

What does the Smart Money Trend signal show for FBCG?

Buying streak — 5 quarters in a row: For 5 consecutive quarters, more hedge funds added FBCG than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for FBCG?

More buyers than sellers — 68% buying: Last quarter: 152 funds were net buyers (53 opened a brand new position + 99 added to an existing one). Only 70 were sellers (53 trimmed + 17 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for FBCG holders?

Smaller funds dominant — 11% AUM from top-100: 16 of 235 holders rank in the top 100 by AUM, but together hold only 11% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held FBCG?

Mixed — 30% long-term, 32% new: Of the 235 current holders: 70 (30%) held >2 years, 90 held 1–2 years, and 75 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.