Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FHLC)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +24
Streak
3Q ▲
Buyers last Q
58%

Smart Money Signals — FHLC

Based on 384 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added FHLC 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
384 hedge funds hold FHLC 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.
📶

Steady growth — +15% more funds vs a year ago

fund count last 6Q
+50 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🟡

Slight buying edge — 58% buying

198 buying142 selling
Last quarter: 198 funds bought or added vs 142 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+14 vs last Q)

new funds entering per quarter
Funds opening a new FHLC position: 37 → 52 → 48 → 62. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 23% medium ■ 21% new
214 out of 384 hedge funds have held FHLC 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.
📈

Growing discovery — still being found

36 → 37 → 52 → 48 → 62 new funds/Q
New funds entering each quarter: 37 → 52 → 48 → 62. A growing number of institutions are discovering FHLC each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 59% veterans vs 25% newcomers

■ 59% veterans ■ 16% 1-2yr ■ 25% new
Entry-cohort mix of 384 holders: 227 (59%) are 2+ year veterans, 61 entered 1–2 years ago, and 96 (25%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 33% AUM from major funds

33% from top-100 AUM funds
27 of 381 holders rank in the top 100 by AUM, accounting for 33% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.7
out of 10
Low Exit Risk
Exit risk score 3.7/10 — 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 — FHLC

In 2026 Q2, 198 hedge funds were net buyers of FHLC (62 opened a new position, 136 added to an existing one), while 142 reduced or exited (104 trimmed, 38 sold completely) — a 58% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. 33% of total institutional value in FHLC is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: +24 funds (more new holders than closures). Total institutional holders: 384.

Hedge Fund Ownership: FHLC

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

Market Analysis: FHLC

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FHLC

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

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Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

12 top-rated funds 5 high-conviction
Consensus
4.8
/ 10
breadth
×
Elite
3.5
/ 10
conviction
Hedge Fund Positioning: FHLC
381 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 381 360 5.83%
13F Shares 19M 17M 10.74%
Total Value $1.44B $1.20B 20.24%
New Positions 62 48 +14
Increased Positions 135 124 +11
Closed Positions 38 43 -5
Reduced Positions 104 111 -7
Total Calls 1 1 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FHLC

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Institutional Holders (2026 Q2)

381 + investors

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

QUARTER:
Top 25 FHLC holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 TTP Investments, Inc. 7.24% 230,921 $17.8M
2 HighMark Wealth Management LLC 6.58% 254,403 $19.7M
3 Buttonwood Financial Advisors Inc. 4.72% 200,861 $15.5M
4 Fischer Financial Services, Inc. 3.38% 174,197 $13.5M
5 Yoder Wealth Management, Inc. 3.08% 102,134 $7.9M
6 Investors Research Corp 2.99% 216,139 $16.7M
7 Strengthening Families & Communities, LLC 2.74% 159,326 $12.3M
8 Marotta Asset Management 2.64% 204,237 $15.9M
9 Heirloom Wealth Management 2.38% 212,893 $16.4M
10 Altfest L J & Co Inc 1.74% 232,582 $18.0M
11 Weatherly Asset Management L. P. 1.72% 313,281 $24.2M
12 KDK Private Wealth Management, LLC 1.66% 25,948 $2.0M
13 Maltin Wealth Management, Inc. 1.60% 61,848 $4.8M
14 Roxbury Financial LLC 1.50% 24,541 $1.9M
15 Richmond Brothers, Inc. 1.38% 34,305 $2.7M
16 Jacobs Equity LLC 1.38% 25,775 $2.0M
17 Beckerman Institutional, LLC 1.32% 35,930 $2.8M
18 Aspetuck Financial Management LLC 1.31% 28,871 $2.2M
19 Maxele Advisors, LLC 1.16% 21,567 $1.7M
20 Partners Wealth Management, LLC 1.06% 13,935 $1.1M
21 Barry Investment Advisors, LLC 0.89% 55,280 $4.3M
22 High Point Wealth Management, LLC 0.82% 13,049 $1.0M
23 Lifeworks Advisors, LLC 0.77% 95,707 $7.4M
24 Armor Investment Advisors, LLC 0.76% 30,591 $2.4M
25 Prospect Financial Services LLC 0.73% 18,767 $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 (FHLC)

What does the Smart Money Trend signal show for FHLC?

Buying streak — 3 quarters in a row: For 3 consecutive quarters, more hedge funds added FHLC 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 FHLC?

Slight buying edge — 58% buying: Last quarter: 198 funds bought or added vs 142 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for FHLC holders?

Strong quality — 33% AUM from major funds: 27 of 381 holders rank in the top 100 by AUM, accounting for 33% 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 FHLC?

56% of holders stayed for 2+ years: 214 out of 384 hedge funds have held FHLC 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.

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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