Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FDIS)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -16
Streak
1Q ▼
Buyers last Q
44%

Smart Money Signals — FDIS

Based on 228 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their FDIS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 93% of 3.0Y peak

93% of all-time peak
228 funds currently hold this stock — 93% of the 3.0-year high of 244 funds (reached 2025 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding FDIS is almost the same as a year ago (+5 funds, +2% change). No significant rush to buy or sell — institutional backing is holding steady.
🟠

More sellers than buyers — 44% buying

92 buying119 selling
Last quarter: 119 funds reduced or exited vs 92 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
⚠️

Fewer new buyers each quarter (-14 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 26 → 31 → 38 → 24. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 27% medium ■ 18% new
127 out of 228 hedge funds have held FDIS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
➡️

Steady discovery — ~24 new funds/quarter

28 → 26 → 31 → 38 → 24 new funds/Q
New funds entering each quarter: 26 → 31 → 38 → 24. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 57% veterans vs 25% newcomers

■ 57% veterans ■ 18% 1-2yr ■ 25% new
Entry-cohort mix of 228 holders: 130 (57%) are 2+ year veterans, 40 entered 1–2 years ago, and 58 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 32% AUM from major funds

32% from top-100 AUM funds
27 of 224 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.5
out of 10
Low Exit Risk
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

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.

Institutional Sentiment Summary — FDIS

In 2026 Q1, 92 hedge funds were net buyers of FDIS (24 opened a new position, 68 added to an existing one), while 119 reduced or exited (79 trimmed, 40 sold completely) — a 44% buyer ratio, indicating roughly balanced activity. 32% of total institutional value in FDIS is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -16 funds (more exits than new entries). Total institutional holders: 228.

Hedge Fund Ownership: FDIS

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

Market Analysis: FDIS

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FDIS

-- --

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

Is It Too Late to Buy Fidelity Covington Trust (FDIS) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much FDIS has moved relative to its sector benchmark (SPY) since the 2026 Q2 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End June 30, 2026 · 45d ago
FDIS
+0.4%
SPY
+3.9%

FDIS outperformed SPY by -3.5% since June 30, 2026.

Since 13F Filing Date August 14, 2026 · 0d ago
FDIS
+0.0%
SPY
+0.0%

Since the filing became public, FDIS outperformed SPY by +0.0% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

13 top-rated funds 3 high-conviction
Consensus
5.0
/ 10
breadth
×
Elite
2.7
/ 10
conviction
Hedge Fund Positioning: FDIS
2026 Q2 Stats Unlock in 5 days 227 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 227 243 -6.58%
13F Shares 8M 9M -15.07%
Total Value $683M $898M -23.94%
New Positions 24 38 -14
Increased Positions 68 80 -12
Closed Positions 40 19 +21
Reduced Positions 79 63 +16
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FDIS

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Financial Highlights

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Institutional Holders (2026 Q2)

227 + investors

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

QUARTER:
2026 Q2 filings are still coming in. Only funds that have filed so far are shown — top holders may not have reported yet. Full 13F data typically settles by ~50 days after quarter-end.
Top 25 FDIS holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Fischer Financial Services, Inc. 3.73% 144,384 $14.8M
2 Independence Financial Advisors, LLC 3.29% 123,456 $12.7M
3 SFI Advisors, LLC 2.79% 31,446 $3.2M
4 Yoder Wealth Management, Inc. 2.67% 66,536 $6.8M
5 Keystone Global Partners, LLC 2.59% 66,566 $6.8M
6 Richmond Brothers, Inc. 1.41% 26,432 $2.7M
7 KDK Private Wealth Management, LLC 1.36% 15,926 $1.6M
8 Maltin Wealth Management, Inc. 1.15% 33,386 $3.4M
9 Penobscot Wealth Management 1.13% 41,177 $4.2M
10 Pension & Wealth Management Advisors, INC. 0.67% 13,877 $787K
11 Southern Capital Advisors, LLC 0.62% 14,449 $1.5M
12 AE Wealth Management LLC 0.59% 1,230,772 $126.6M
13 Blue Jean Financial LLC 0.58% 8,070 $830K
14 Schmidt P J Investment Management Inc 0.52% 32,590 $3.4M
15 Atlas Capital Advisors INC. 0.50% 47,271 $4.4M
16 Redwood Financial Network Corp 0.45% 7,813 $803K
17 Pathway Financial Advisers, LLC 0.42% 16,343 $1.7M
18 Lido Advisors, LLC 0.40% 1,436,002 $147.7M
19 Zinnia Wealth Advisory, LLC 0.39% 3,729 $383K
20 Lynch & Associates/In 0.38% 21,395 $2.2M
21 Bayshore Capital Advisors, LLC 0.37% 7,751 $797K
22 Elevated Capital Advisors, LLC 0.33% 11,695 $1.2M
23 Mosley Wealth Management 0.30% 9,123 $938K
24 Lifeworks Advisors, LLC 0.27% 25,209 $2.6M
25 Investors Research Corp 0.24% 13,219 $1.4M
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 (FDIS)

What does the Smart Money Trend signal show for FDIS?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FDIS positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for FDIS?

More sellers than buyers — 44% buying: Last quarter: 119 funds reduced or exited vs 92 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for FDIS holders?

Strong quality — 32% AUM from major funds: 27 of 224 holders rank in the top 100 by AUM, accounting for 32% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held FDIS?

56% of holders stayed for 2+ years: 127 out of 228 hedge funds have held FDIS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Fidelity Covington Trust (FDIS) following the 2026 Q2 hedge fund 13F filings?

As of today, FDIS has moved +0.0% since the 2026 Q2 13F filing date (August 14, 2026), compared to +0.0% for the SPY sector ETF — an outperformance of +0.0%. Since the quarter end (June 30, 2026), FDIS has gained +0.4% vs +3.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference.

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.

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