Fidelity Covington Trust - Fidelity Value Factor ETF
US ˙ ARCA ˙ US3160927824

SecurityFVAL / Fidelity Covington Trust - Fidelity Value Factor ETF
InstitutionCommonwealth Equity Services, Llc
Latest Disclosed Ownership238,792 shares
Latest Disclosed Value $ 17,257,513
Commonwealth Equity Services, Llc reports 6.45% decrease in ownership of FVAL / Fidelity Covington Trust - Fidelity Value Factor ETF

On February 12, 2026 - Commonwealth Equity Services, Llc filed a 13F-HR form disclosing ownership of 238,792 shares of Fidelity Covington Trust - Fidelity Value Factor ETF (US:FVAL) valued at $17,257,498 USD as of December 31, 2025. The entity filed a previous 13F-HR on October 22, 2025 disclosing 255,253 shares of Fidelity Covington Trust - Fidelity Value Factor ETF. This represents a change in shares of -6.45% during the quarter. The current value of the position is $19,151,118 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-12 2025-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 238,792 -16,461 -6.45 17,258 101,411.76
2025-10-22 2025-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 255,253 -574,945 -69.25 18 -67.92 0.0228
2025-08-06 2025-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 830,198 -23,296 -2.73 53 6.00 0.0700
2025-05-09 2025-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 853,494 -54,152 -5.97 51 -9.09 0.0720
2025-02-10 2024-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 907,646 10,351 1.15 56 1.85 0.0816
2024-10-18 2024-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 897,295 182,423 25.52 54 31.71 0.0824
2024-07-31 2024-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 714,872 66,816 10.31 41 13.89 0.0652
2024-04-29 2024-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 648,056 166,991 34.71 37 44.00 0.0614
2024-02-06 2023-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 481,065 20,099 4.36 25 13.64 0.0467
2023-10-23 2023-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 460,966 -43,294 -8.59 22 -8.33 0.0457
2023-08-10 2023-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 504,260 -15,791 -3.04 25 4.35 0.0504
2023-05-11 2023-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 520,051 -112,975 -17.85 24 -14.81 0.0500
2023-02-07 2022-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 633,026 1,152 0.18 28 -99.89 0.0668
2022-11-14 2022-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 631,874 -18,854 -2.90 25,281 -9.69 0.0652
2022-07-19 2022-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 650,728 42,146 6.93 27,994 -9.50 0.0729
2022-05-04 2022-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 608,582 -46,870 -7.15 30,934 -9.46 0.0707
2022-01-31 2021-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 655,452 338,528 106.82 34,168 126.26 0.0770
2021-10-29 2021-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 316,924 8,859 2.88 15,101 2.02 0.0379
2021-08-11 2021-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 308,065 40,645 15.20 14,802 23.56 0.0376
2021-05-04 2021-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 267,420 52,910 24.67 11,980 37.53 0.0339
2021-02-11 2020-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 214,510 38,064 21.57 8,711 38.60 0.0262
2020-11-05 2020-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 176,446 -17,816 -9.17 6,285 -3.87 0.0215
2020-08-12 2020-06-30 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 194,262 5,822 3.09 6,538 23.31 0.0247
2020-05-11 2020-03-31 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 188,440 10,869 6.12 5,302 -21.38 0.0247
2020-02-05 2019-12-31 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 177,571 9,412 5.60 6,744 16.76 0.0257
2019-10-30 2019-09-30 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 168,159 11,173 7.12 5,776 8.49 0.0246
2019-07-19 2019-06-30 13F FIDELITY VLU FACTOR ETF 316092782 156,986 54,323 52.91 5,324 56.40 0.0235
2019-05-13 2019-03-31 13F FIDELITY VLU FACTOR ETF 316092782 102,663 -40,129 -28.10 3,404 -19.75 0.0157
2019-02-11 2018-12-31 13F FIDELITY VLU FACTOR ETF 316092782 142,792 30,917 27.64 4,242 8.44 0.0225
2018-11-06 2018-09-30 13F FIDELITY VLU FACTOR ETF 316092782 111,875 1,515 1.37 3,912 7.74 0.0187
2018-07-31 2018-06-30 13F FIDELITY VLU FACTOR ETF 316092782 110,360 2,054 1.90 3,631 4.52 0.0190
2018-05-14 2018-03-31 13F FIDELITY VLU FACTOR ETF 316092782 108,306 6,213 6.09 3,474 3.55 0.0189
2018-02-12 2017-12-31 13F FIDELITY VLU FACTOR ETF 316092782 102,093 102,093 3,355 0.0183
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.