Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Fidelity Covington Trust (FMAT)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +9
Streak
3Q ▲
Buyers last Q
58%

Smart Money Signals — FMAT

Based on 134 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 3 quarters in a row

last 6Q
For 3 consecutive quarters, more hedge funds added FMAT 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
134 hedge funds hold FMAT 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 — +26% more funds vs a year ago

fund count last 6Q
+28 new funds entered over the past year (+26% 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 — 58% buying

74 buying53 selling
Last quarter: 74 funds bought or added vs 53 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 — ~27 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 12 → 19 → 24 → 27. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

49% of holders stayed for 2+ years

■ 49% conviction (2yr+) ■ 28% medium ■ 24% new
65 out of 134 hedge funds have held FMAT 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.
🚀

Acceleration phase — new buyers rushing in

19 → 12 → 19 → 24 → 27 new funds/Q
New funds entering each quarter: 12 → 19 → 24 → 27. The pace of institutional discovery is accelerating sharply. This is the 'hot idea' phase — the thesis is being passed from fund to fund. You are not late — the accumulation wave is still building.
🏛️

Veteran-anchored — 57% veterans vs 29% newcomers

■ 57% veterans ■ 14% 1-2yr ■ 29% new
Entry-cohort mix of 135 holders: 77 (57%) are 2+ year veterans, 19 entered 1–2 years ago, and 39 (29%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 16% AUM from top-100

16% from top-100 AUM funds
16 of 133 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — 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.

Institutional Sentiment Summary — FMAT

In 2026 Q1, 74 hedge funds were net buyers of FMAT (27 opened a new position, 47 added to an existing one), while 53 reduced or exited (35 trimmed, 18 sold completely) — a 58% buyer ratio, indicating a slight buying edge. This marks 3 consecutive quarters of net institutional buying — a persistent conviction signal. Net fund flow last quarter: +9 funds (more new holders than closures). Total institutional holders: 134.

Hedge Fund Ownership: FMAT

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

Market Analysis: FMAT

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: FMAT

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

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

5 top-rated funds 1 high-conviction
Consensus
3.4
/ 10
breadth
×
Elite
1.2
/ 10
conviction
Hedge Fund Positioning: FMAT
147 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 147 134 9.7%
13F Shares 5M 4M 9.25%
Total Value $263M $236M 11.32%
New Positions 31 27 +4
Increased Positions 50 47 +3
Closed Positions 17 19 -2
Reduced Positions 39 35 +4
Total Calls 1 1 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: FMAT

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Institutional Holders (2026 Q2)

147 + investors

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

QUARTER:
Top 25 FMAT holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Independence Financial Advisors, LLC 3.11% 204,631 $12.0M
2 Richmond Brothers, Inc. 0.90% 29,593 $1.7M
3 Maxele Advisors, LLC 0.74% 18,055 $1.1M
4 Blue Jean Financial LLC 0.66% 16,164 $946K
5 Yoder Wealth Management, Inc. 0.53% 23,089 $1.4M
6 Centerline Wealth Advisors, LLC 0.48% 26,064 $1.5M
7 AE Wealth Management LLC 0.46% 1,683,557 $98.5M
8 Trail Ridge Investment Advisors, LLC 0.45% 18,133 $1.1M
9 Peak Financial Management, Inc. 0.44% 32,967 $1.9M
10 Certified Advisory Corp 0.39% 82,086 $4.8M
11 Jacobs Equity LLC 0.34% 8,431 $493K
12 KDK Private Wealth Management, LLC 0.32% 6,556 $384K
13 Penobscot Wealth Management 0.27% 17,557 $1.0M
14 Elevation Wealth Management LLC 0.25% 5,612 $328K
15 Elevated Capital Advisors, LLC 0.24% 15,084 $883K
16 Wealth Alliance Advisory Group, LLC 0.24% 28,337 $1.7M
17 Lifeworks Advisors, LLC 0.24% 39,081 $2.3M
18 Targeted Financial Services LLC 0.20% 4,615 $270K
19 Mosley Wealth Management 0.18% 9,569 $560K
20 Nova Wealth Management, Inc. 0.16% 4,831 $283K
21 Wealthgarden F.S. LLC 0.15% 4,662 $273K
22 Lynch & Associates/In 0.12% 12,030 $704K
23 NorthCoast Asset Management LLC 0.12% 92,538 $5.4M
24 SeaCrest Wealth Management, LLC 0.11% 17,735 $1.0M
25 Beaumont Financial Advisors, LLC 0.10% 28,085 $1.6M
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 (FMAT)

What does the Smart Money Trend signal show for FMAT?

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

Slight buying edge — 58% buying: Last quarter: 74 funds bought or added vs 53 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 FMAT holders?

Smaller funds dominant — 16% AUM from top-100: 16 of 133 holders rank in the top 100 by AUM, but together hold only 16% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held FMAT?

49% of holders stayed for 2+ years: 65 out of 134 hedge funds have held FMAT 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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