Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

FIDELITY COVINGTON TRUST (FMAG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
1Q ▼
Buyers last Q
50%

Smart Money Signals — FMAG

Based on 33 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

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

At the ownership peak (97% of max)

97% of all-time peak
33 hedge funds hold FMAG 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 — +27% more funds vs a year ago

fund count last 6Q
+7 new funds entered over the past year (+27% 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.
🟡

Slight buying edge — 50% buying

16 buying16 selling
Last quarter: 16 funds bought or added vs 16 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.
➡️

Steady new buyers — ~6 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 5 → 6 → 7 → 6. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌

Mixed — 27% long-term, 24% new

■ 27% conviction (2yr+) ■ 48% medium ■ 24% new
Of the 33 current holders: 9 (27%) held >2 years, 16 held 1–2 years, and 8 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.
➡️

Steady discovery — ~6 new funds/quarter

6 → 5 → 6 → 7 → 6 new funds/Q
New funds entering each quarter: 5 → 6 → 7 → 6. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊

Mixed cohorts — 36% veterans, 27% new entrants

■ 36% veterans ■ 36% 1-2yr ■ 27% new
Of 33 current holders: 12 (36%) held 2+ years, 12 held 1–2 years, 9 (27%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅

Strong quality — 39% AUM from major funds

39% from top-100 AUM funds
11 of 33 holders rank in the top 100 by AUM, accounting for 39% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
3.8
out of 10
Low Exit Risk
Exit risk score 3.8/10 — 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 — FMAG

In 2025 Q4, 16 hedge funds were net buyers of FMAG (6 opened a new position, 10 added to an existing one), while 16 reduced or exited (9 trimmed, 7 sold completely) — a 50% buyer ratio, indicating a slight buying edge. 39% of total institutional value in FMAG is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 33.

Hedge Fund Ownership: FMAG

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

Market Analysis: FMAG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FMAG

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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.

7 top-rated funds 0 high-conviction
Consensus
3.9
/ 10
breadth
×
Elite
0.5
/ 10
conviction
Hedge Fund Positioning: FMAG
2026 Q1 Stats Unlock in 4 days 33 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 33 34 -2.94%
13F Shares 4M 4M 1.6%
Total Value $130M $132M -1.49%
New Positions 6 7 -1
Increased Positions 10 10 -
Closed Positions 7 4 +3
Reduced Positions 9 8 +1
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FMAG

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Financial Highlights

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Institutional Holders (2026 Q1)

33 + investors

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

QUARTER:
Top 25 institutional holders of FMAG — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Anson Capital, Inc. 2.19% 101,403 $3.2M
2 BEAM WEALTH ADVISORS, INC. 0.60% 75,728 $2.4M
3 MWA Asset Management 0.40% 2,002 $732K
4 Sigma Planning Corp 0.04% 47,198 $1.5M
5 FIL Ltd 0.04% 1,508,628 $47.7M
6 WELLS FARGO & COMPANY/MN 0.01% 942,820 $29.8M
7 Kestra Advisory Services, LLC 0.00% 40,172 $1.3M
8 JONES FINANCIAL COMPANIES LLLP 0.00% 162,014 $5.0M
9 Hurley Capital, LLC 0.00% 136 $4K
10 PNC FINANCIAL SERVICES GROUP, INC. 0.00% 105,111 $3.3M
11 THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. 0.00% 100 $3K
12 COMMONWEALTH EQUITY SERVICES, LLC 0.00% 28,912 $914K
13 Cetera Investment Advisers 0.00% 28,808 $911K
14 ENVESTNET ASSET MANAGEMENT INC 0.00% 97,592 $3.1M
15 TWO SIGMA INVESTMENTS, LP 0.00% 26,400 $835K
16 UBS Group AG 0.00% 57,768 $1.8M
17 SALEM INVESTMENT COUNSELORS INC 0.00% 115 $4K
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% 23,326 $738K
19 Arax Advisory Partners 0.00% 45 $3K
20 GOLDMAN SACHS GROUP INC 0.00% 21,671 $685K
21 LPL Financial LLC 0.00% 7,043 $223K
22 ROYAL BANK OF CANADA 0.00% 8,501 $269K
23 CWM, LLC 0.00% 471 $15K
24 OSAIC HOLDINGS, INC. 0.00% 580 $18K
25 Steward Partners Investment Advisory, LLC 0.00% 119 $4K
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 (FMAG)

What does the Smart Money Trend signal show for FMAG?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their FMAG 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 FMAG?

Slight buying edge — 50% buying: Last quarter: 16 funds bought or added vs 16 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 FMAG holders?

Strong quality — 39% AUM from major funds: 11 of 33 holders rank in the top 100 by AUM, accounting for 39% 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 FMAG?

Mixed — 27% long-term, 24% new: Of the 33 current holders: 9 (27%) held >2 years, 16 held 1–2 years, and 8 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.