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

SecurityFVAL / Fidelity Covington Trust - Fidelity Value Factor ETF
InstitutionMorgan Stanley
Latest Disclosed Ownership131,607 shares
Latest Disclosed Value $ 9,133,578
Morgan Stanley reports 4.39% increase in ownership of FVAL / Fidelity Covington Trust - Fidelity Value Factor ETF

On May 15, 2026 - Morgan Stanley filed a 13F-HR form disclosing ownership of 131,607 shares of Fidelity Covington Trust - Fidelity Value Factor ETF (US:FVAL) valued at $9,133,526 USD as of March 31, 2026. The entity filed a previous 13F-HR/A on May 27, 2026 disclosing 126,067 shares of Fidelity Covington Trust - Fidelity Value Factor ETF. This represents a change in shares of 4.39% during the quarter. The current value of the position is $10,554,881 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)
2026-05-15 2026-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 131,607 5,540 4.39 9,134 0.25 0.0006
2026-05-27 2025-12-31 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 126,067 -1,240 -0.97 9,111 3.91 0.0005
2026-02-13 2025-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 126,067 -1,240 9,111 0.0005
2026-05-27 2025-09-30 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 127,307 5,837 4.81 8,768 13.01 0.0005
2025-11-14 2025-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 127,307 5,837 8,768 0.0005
2025-08-15 2025-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 121,470 -4,936 -3.90 7,758 3.00 0.0005
2025-05-15 2025-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 126,406 48,083 61.39 7,533 56.33 0.0005
2025-05-15 2024-12-31 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 78,323 -5,135 -6.15 4,819 -4.73 0.0003
2025-02-14 2024-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 78,323 -5,135 4,819 0.0003
2025-05-14 2024-09-30 13F/A-2 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 83,458 4,565 5.79 5,058 11.31 0.0004
2025-02-14 2024-09-30 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 83,458 4,565 5,058 0.0004
2024-11-14 2024-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 83,458 4,565 5,058 0.0000
2025-05-14 2024-06-30 13F/A-2 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 78,893 -151,114 -65.70 4,543 -65.38 0.0004
2024-10-17 2024-06-30 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 78,893 -151,114 4,543 0.0004
2024-08-14 2024-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 78,893 -151,114 4,543 0.0004
2024-10-17 2024-03-31 13F/A-2 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 230,007 -8,919 -3.73 13,122 3.63 0.0011
2024-08-16 2024-03-31 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 230,007 -8,919 13,122 0.0001
2024-05-15 2024-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 230,007 -8,919 13,122 0.0011
2024-08-16 2023-12-31 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 238,926 137,526 135.63 12,663 160.96 0.0011
2024-02-13 2023-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 238,926 137,526 12,663 0.0011
2023-11-15 2023-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 101,400 10,381 11.41 4,852 8.57 0.0005
2023-08-14 2023-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 91,019 -2,370 -2.54 4,469 4.59 0.0004
2023-05-15 2023-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 93,389 -16,902 -15.32 4,273 -11.64 0.0005
2023-02-14 2022-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 110,291 -66,279 -37.54 4,836 -31.55 0.0005
2022-11-14 2022-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 176,570 -73,613 -29.42 7,065 -34.36 0.0010
2022-10-27 2022-06-30 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 250,183 -31,849 -11.29 10,763 -24.92 0.0014
2022-08-15 2022-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 250,183 -31,849 10,763 0.0003
2022-10-27 2022-03-31 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 282,032 198,994 239.64 14,336 231.16 0.0019
2022-05-13 2022-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 282,032 198,994 14,336 0.0019
2022-02-14 2021-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 83,038 14,798 21.69 4,329 33.12 0.0005
2021-11-15 2021-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 68,240 10,931 19.07 3,252 18.08 0.0004
2021-08-23 2021-06-30 13F/A-1 FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 57,309 42,602 289.67 2,754 317.91 0.0004
2021-08-16 2021-06-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 57,309 42,602 2,754 0.0001
2021-05-17 2021-03-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 14,707 13,660 1,304.68 659 1,432.56 0.0001
2021-02-16 2020-12-31 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 1,047 867 481.67 43 616.67 0.0000
2020-11-13 2020-09-30 13F FIDELITY COVINGTON TRUST VLU FACTOR ETF 316092782 180 80 80.00 6 100.00 0.0000
2020-08-14 2020-06-30 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 100 0 0.00 3 0.00 0.0000
2020-05-26 2020-03-31 13F/A-1 FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 100 0 0.00 3 -25.00 0.0000
2020-05-15 2020-03-31 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 100 0 3 0.2305
2020-02-14 2019-12-31 13F FIDELITY COVINGTON TR VLU FACTOR ETF 316092782 100 100 4 0.0000
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.