FIDELITY COVINGTON TRUST

Ticker: FMAG CUSIP: 316092329 Class: FIDELITY MAGELAN

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (6)

TWO SIGMA SECURITIES, LLC

Value ($000) $206 Shares 6,037

SRS Capital Advisors, Inc.

Value ($000) $512 Shares 14,990

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $790 Shares 23,151

JANE STREET GROUP, LLC

Value ($000) $280 Shares 8,210

LPL Financial LLC

Value ($000) $222 Shares 6,518

BANK OF AMERICA CORP /DE/

Value ($000) $21 Shares 626

Institution	Shares	Value ($000)
TWO SIGMA SECURITIES, LLC	6,037	$206
SRS Capital Advisors, Inc.	14,990	$512
SUSQUEHANNA INTERNATIONAL GROUP, LLP	23,151	$790
JANE STREET GROUP, LLC	8,210	$280
LPL Financial LLC	6,518	$222
BANK OF AMERICA CORP /DE/	626	$21

Increased Positions (10)

Arkadios Wealth Advisors

Value ($000) $6,592 (+16.1%) Shares 193,151 (+19.8%)

JONES FINANCIAL COMPANIES LLLP

Value ($000) $4,570 (+80.5%) Shares 133,891 (+84.7%)

WELLS FARGO & COMPANY/MN

Value ($000) $33,597 (+1.8%) Shares 984,395 (+5.0%)

Sigma Planning Corp

Value ($000) $1,394 (+2.8%) Shares 40,846 (+6.1%)

UBS Group AG

Value ($000) $2,214 (+20.0%) Shares 64,861 (+23.8%)

Cetera Investment Advisers

Value ($000) $591 (+100.7%) Shares 17,319 (+107.1%)

TWO SIGMA INVESTMENTS, LP

Value ($000) $1,150 (+17.5%) Shares 33,700 (+21.2%)

ROYAL BANK OF CANADA

Value ($000) $879 (+33.4%) Shares 25,755 (+37.6%)

Kestra Advisory Services, LLC

Value ($000) $1,187 (+8.7%) Shares 34,791 (+12.2%)

FMR LLC

Value ($000) $387 (+40.1%) Shares 11,334 (+44.6%)

Institution	Prev Shares	Curr Shares	Change
Arkadios Wealth Advisors	161,201	193,151	+31,950 (+19.8%)
JONES FINANCIAL COMPANIES LLLP	72,510	133,891	+61,381 (+84.7%)
WELLS FARGO & COMPANY/MN	937,316	984,395	+47,079 (+5.0%)
Sigma Planning Corp	38,503	40,846	+2,343 (+6.1%)
UBS Group AG	52,394	64,861	+12,467 (+23.8%)
Cetera Investment Advisers	8,363	17,319	+8,956 (+107.1%)
TWO SIGMA INVESTMENTS, LP	27,800	33,700	+5,900 (+21.2%)
ROYAL BANK OF CANADA	18,720	25,755	+7,035 (+37.6%)
Kestra Advisory Services, LLC	31,015	34,791	+3,776 (+12.2%)
FMR LLC	7,839	11,334	+3,495 (+44.6%)

Decreased Positions (7)

FIL Ltd

Value ($000) $56,649 (-7.1%) Shares 1,659,810 (-4.1%)

J.W. COLE ADVISORS, INC.

Value ($000) $1,908 (-14.1%) Shares 55,902 (-11.4%)

PNC Financial Services Group, Inc.

Value ($000) $4,661 (-4.3%) Shares 136,569 (-1.3%)

COMMONWEALTH EQUITY SERVICES, LLC

Value ($000) $1,217 (+88843.0%) Shares 35,650 (-8.2%)

ENVESTNET ASSET MANAGEMENT INC

Value ($000) $3,288 (-4.7%) Shares 96,350 (-1.7%)

OSAIC HOLDINGS, INC.

Value ($000) $72 (-4.6%) Shares 2,116 (-1.9%)

Hurley Capital, LLC

Value ($000) $5 (-4.4%) Shares 140 (-1.4%)

Institution	Prev Shares	Curr Shares	Change
FIL Ltd	1,731,406	1,659,810	-71,596 (-4.1%)
J.W. COLE ADVISORS, INC.	63,064	55,902	-7,162 (-11.4%)
PNC Financial Services Group, Inc.	138,357	136,569	-1,788 (-1.3%)
COMMONWEALTH EQUITY SERVICES, LLC	38,850	35,650	-3,200 (-8.2%)
ENVESTNET ASSET MANAGEMENT INC	97,977	96,350	-1,627 (-1.7%)
OSAIC HOLDINGS, INC.	2,156	2,116	-40 (-1.9%)
Hurley Capital, LLC	142	140	-2 (-1.4%)

Exited Positions (6)

Delta Investment Management, LLC

Value ($000) $2,060 Shares 58,519

Integrated Wealth Concepts LLC

Value ($000) $274 Shares 7,780

MML INVESTORS SERVICES, LLC

Value ($000) $292 Shares 8,289

JPMORGAN CHASE & CO

Value ($000) $257 Shares 7,303

SALEM INVESTMENT COUNSELORS INC

Value ($000) $4 Shares 115

MORGAN STANLEY

Value ($000) $0 Shares 1

Institution	Prev Shares	Prev Value ($000)
Delta Investment Management, LLC	58,519	$2,060
Integrated Wealth Concepts LLC	7,780	$274
MML INVESTORS SERVICES, LLC	8,289	$292
JPMORGAN CHASE & CO	7,303	$257
SALEM INVESTMENT COUNSELORS INC	115	$4
MORGAN STANLEY	1	$0