FREL · Fidelity MSCI Real Estate Index ETF · Holdings ETF

$28.01 +0.50 (+1.82%) At close · Oct 20

Volume · Oct 20 207.99K Avg daily vol (3M) 333.62K

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Use institutional holdings through the 13F API or MCP →

Institutional holdings are being reconciled with SEC filings. Holder totals and changes may be incomplete until reconciliation finishes.

Quarter:

Holders: 33

Total Value: $89,075,693

Total Shares: 3,277,252

Institutional Ownership Trend

27 quarters

Holder Concentration

Across 33 13F filers · Δ vs Jun 30, 2026

Top Holder

22.2%

−14.0 pts

Top 5

60.8%

+11.3 pts

Top 10

84.5%

+22.9 pts

HHI

1,024

Broadly held−388

Who Holds FREL

Last 8 quarters through Sep 30, 2026 (filing window open)

Each kind of 13F filer's share of the common shares 13F filers report. Holder type comes from regulatory records, never the filer's name; style, turnover and horizon are measured from each filer's own 13F book. The quarter selector does not change this card.

Jun 30, 2026, the newest closed quarter: 212 filers, like-for-like change +1.0%; actively managed books +1.0%; index-like books +4.0%.

Holder type	Share	Filers	Change	New	Exited
Registered adviser	43.3%	142	+1.2%	22	12
Exempt adviser	0.0%	1	new	1	0
Adviser	0.2%	2	+1.3%	0	1
Bank	42.6%	13	-0.7%	2	3
Broker-dealer	2.1%	1	+3.0%	0	0
Holding company	1.5%	5	0.0%	2	0
Non-US	0.0%	0	—	0	0
Unknown	10.3%	48	+7.6%	4	8

Style	Share	Filers	Change	New	Exited
Index-like	0.7%	2	+4.0%	1	0
Systematic-like	0.1%	2	-93.4%	1	3
Concentrated	27.3%	77	+4.1%	8	7
Diversified active	71.9%	131	+2.8%	21	14
Not measured	0.0%	0	—	0	0
Unknown	0.0%	0	—	0	0

Turnover	Share	Filers	Change	New	Exited
Low turnover	91.7%	157	+1.8%	20	15
Medium turnover	5.7%	31	+14.7%	5	5
High turnover	0.6%	6	-76.9%	2	4
Unknown	2.0%	18	+66.5%	4	0
Not measured	0.0%	0	—	0	0

Holding horizon	Share	Filers	Change	New	Exited
Short horizon	1.5%	16	+20.7%	4	0
Medium horizon	8.3%	39	+32.3%	11	3
Long horizon	88.9%	149	+0.7%	14	20
Unknown	1.3%	8	-59.8%	2	1
Not measured	0.0%	0	—	0	0

13F book size	Share	Filers	Change	New	Exited
Under $1B	20.1%	85	+2.9%	12	11
$1B to $10B	12.5%	66	+12.8%	10	6
$10B to $100B	17.3%	39	+6.4%	8	3
$100B or more	50.1%	22	-3.9%	1	4
Not measured	0.0%	0	—	0	0

Client base	Share	Filers	Change	New	Exited
Individuals and high net worth	41.9%	134	+6.4%	21	10
Registered funds and BDCs	0.0%	1	+7.9%	0	0
Charitable organizations	0.3%	2	+16.1%	0	0
Corporations	0.0%	1	0.0%	0	0
Other investment advisers	0.2%	2	+23.5%	0	0
Diversified	0.8%	2	+1.0%	1	0
Pooled investment vehicles	0.0%	0	-100.0%	0	2
Pension and profit sharing plans	0.0%	0	—	0	0
Other	0.0%	0	—	0	0
Unknown	56.7%	70	+0.8%	9	12

Private funds	Share	Filers	Change	New	Exited
Hedge funds	3.9%	3	-36.8%	1	2
Private equity funds	4.5%	7	+3.9%	0	0
Venture capital funds	0.0%	1	0.0%	0	0
Real estate funds	3.7%	4	+16.4%	0	0
Other private funds	1.1%	4	+76.7%	1	1
Mixed private funds	0.1%	2	+63.7%	1	1
Private funds, type not stated	0.0%	1	0.0%	0	0
No private funds	30.1%	121	+5.5%	20	8
Unknown	56.7%	69	+0.8%	8	12

Location	Share	Filers	Change	New	Exited
United States	98.7%	207	+1.3%	30	23
Outside the US	1.3%	5	-18.6%	1	1

The Sep 30, 2026 filing window is still open, so its bar shows only the filers that have filed so far.

How the mix is measured

Shares are 13F common shares restated to today's split basis; options and principal amounts are left out. The change compares only filers with a 13F in both quarters and keeps each filer in its bucket of the later quarter on both sides; a filer that continues under a new CIK is compared through its successor. Holder type comes from each filer's current regulatory profile; client base and private funds come from the Form ADV roster current at each quarter end (rosters from December 2019, so an earlier quarter reads Unknown). Style, turnover, horizon and book size are measured from each filer's 13F book in the newest measured quarter, and Not measured means none was. Actively managed books are those measured systematic-like, concentrated or diversified active.

Excluded 3 holders with no observed 2026-03-31 13F and 3 holders with no observed 2026-06-30 13F.

Conviction and Crowding

212 13F filers, quarter ended Jun 30, 2026

Measured across every 13F filer's common-share book once the quarter's filing window closed. Crowding counts filers with high turnover or that advise private funds on Form ADV.

Conviction holders

22.2% of filers hold it in their top 10

Mar 31, 2026: 44

Holders above 5%

median weight 0.011%

Mar 31, 2026: 3

Crowding

—

shares outstanding is an issuer-wide count, not one listing's

Private-fund advisers

—

of shares outstanding

Institutional ownership

—

shares outstanding is an issuer-wide count, not one listing's

Top 10 holders

61.6%

of 13F shares, Herfindahl 0.141

Active holders

+1.0%

like-for-like share change of active filers

5% stakes on record

0 13D, 0 13G

How long holders have held it value-weighted 21.7 quarters

Under 1 year 5.86% 1 to 3 years 9.25% 3 years or more 84.9% Since coverage start 0.000%

Managers in the top fifth by current three-year FundScore alpha were net buyers of $0 (0 buying, 0 selling).

Estimated Holder Cost Basis

Quarter ended Jun 30, 2026, on that quarter's share basis

Estimated, never filed: each 13F buy is costed at its quarter's average traded price and each sale keeps the average cost, so this is what holders paid on average if they traded evenly through each quarter.

Estimated avg cost

$27.12

estimated per share

Mar 31, 2026: $26.80

Quarter-end price

$29.30

implied by 13F values

Estimated gain or loss

+8.1%

price against the estimated cost

Estimated at a loss

0.198%

of costed 13F value

Estimated cost covers 25.5% of the 13F shares; positions already held when a filer's 13F history starts, or bought in a quarter without a trusted average price, have no estimate.

Quarterly Activity

vs Jun 30, 2026

New

Increased

Decreased

Sold Out

Unchanged

New and Sold Out count only filers that reported a 13F for both quarters: a first-time filer's book is not a buy, and a fund that has not filed, or withheld its positions under confidential treatment, has not sold.

Holder count: -179

Institutional value: -89.5%

Shares held: -88.7%

Top Buyers

vs Jun 30, 2026

Institution	Added	Now Holds
Mid Diversify Advisory Services, LLC	+27,912	376,148
Mid DIVERSIFY WEALTH MANAGEMENT, LLC	+27,912	376,148
Small TRUEFG, LLC	+21,159	728,436
Mid Dynamic Advisor Solutions LLC	+7,720	226,201
Small Marotta Asset Management	+6,390	277,985

Top Sellers

vs Jun 30, 2026

Institution	Sold	Now Holds
Small Physician Wealth Advisors, Inc.	−5,703	153,800
Mid SigFig Wealth Management, LLC	−4,804	108,480
Small Eagle Bay Advisors LLC	−2,852	65,201
Mid Atria Investments, Inc	−2,327	59,116
Small BLUE JEAN FINANCIAL LLC	−1,516	31,687

Top New Positions

vs Jun 30, 2026

Institution	Acquired	Value (USD)	Open
Mid CoreCap Advisors, LLC	17	$462

Top Sold-Out Positions

vs Jun 30, 2026

Institution	Previously Held	Last Value (USD)
Mid Robertson Stephens Wealth Management, LLC	15,212	$445,711
Small LYNCH & ASSOCIATES/IN	13,991	$409,936
Mid AdvisorNet Financial, Inc	446	$13,067

Filter: New 1 Increased 15 Reduced 14 Sold out 3 Unchanged 3

Holder type: Registered adviser 27 Unknown 6

Showing 33 of 33

All Common Calls Puts

Compact Export CSV

Holder	Value (USD)	% of 13F	Shares	Own %	Change	Type	Filed
Small TRUEFG, LLC Registered adviser FREL	$19,798,890	22.23%	728,436	—	+21,159 +3.0%	Shares	2026-10-15
Mid Diversify Advisory Services, LLC Registered adviser FREL	$10,223,702	11.48%	376,148	—	+27,912 +8.0%	Shares	2026-10-20
Mid DIVERSIFY WEALTH MANAGEMENT, LLC Registered adviser FREL	$10,223,702	11.48%	376,148	—	+27,912 +8.0%	Shares	2026-10-20
Small Marotta Asset Management Registered adviser FREL	$7,555,632	8.48%	277,985	—	+6,390 +2.4%	Shares	2026-10-02
Small Heck Capital Advisors, LLC Registered adviser FREL	$6,317,311	7.09%	232,425	—	+2,922 +1.3%	Shares	2026-10-14
Mid Dynamic Advisor Solutions LLC FREL	$6,148,143	6.90%	226,201	—	+7,720 +3.5%	Shares	2026-10-13
Small AMERICAN FINANCIAL & TAX STRATEGIES INC Registered adviser FREL	$5,408,167	6.07%	198,976	—	-578 -0.3%	Shares	2026-10-16
Small Physician Wealth Advisors, Inc. Registered adviser FREL	$4,180,284	4.69%	153,800	—	-5,703 -3.6%	Shares	2026-10-20
Mid SigFig Wealth Management, LLC Registered adviser FREL	$2,948,486	3.31%	108,480	—	-4,804 -4.2%	Shares	2026-10-07
Small SACHEM HILL LLC Registered adviser FREL	$2,457,207	2.76%	90,405	—	-693 -0.8%	Shares	2026-10-14
Small Eagle Bay Advisors LLC Registered adviser FREL	$1,772,163	1.99%	65,201	—	-2,852 -4.2%	Shares	2026-10-16
Mid Atria Investments, Inc Registered adviser FREL	$1,606,772	1.80%	59,116	—	-2,327 -3.8%	Shares	2026-10-15
Small HF Advisory Group, LLC Registered adviser FREL	$1,489,110	1.67%	54,787	—	-249 -0.5%	Shares	2026-10-09
Large Farther Finance Advisors, LLC Registered adviser FREL	$1,407,978	1.58%	51,802	—	-775 -1.5%	Shares	2026-10-08
Micro 21 West Wealth Management LLC Registered adviser FREL	$1,214,511	1.36%	44,684	—	-57 -0.1%	Shares	2026-10-13
Micro INTEGRATED CAPITAL MANAGEMENT, INC. Registered adviser FREL	$874,135	0.98%	32,161	—	-1,163 -3.5%	Shares	2026-10-09
Small BLUE JEAN FINANCIAL LLC FREL	$861,252	0.97%	31,687	—	-1,516 -4.6%	Shares	2026-10-20
Small New England Private Wealth Advisors LLC Registered adviser FREL	$831,273	0.93%	30,584	—	+251 +0.8%	Shares	2026-10-19
Mid IFP Advisors, Inc Registered adviser FREL	$673,520	0.76%	24,780	—	+207 +0.8%	Shares	2026-10-16
Mid Galvin, Gaustad & Stein, LLC Registered adviser FREL	$491,550	0.55%	18,085	—	-387 -2.1%	Shares	2026-10-08
Small Independence Financial Advisors, LLC FREL	$374,268	0.42%	13,770	—	+105 +0.8%	Shares	2026-10-08
Small THOMPSON INVESTMENT MANAGEMENT, INC. Registered adviser FREL	$361,222	0.41%	13,290	—	+824 +6.6%	Shares	2026-10-14
Large WEALTH ENHANCEMENT ADVISORY SERVICES, LLC FREL	$357,743	0.40%	13,162	—	+883 +7.2%	Shares	2026-10-13
Micro Clearview Wealth Management LLC FREL	$312,461	0.35%	11,496	—	0 0.0%	Shares	2026-10-16
Mid MISSION WEALTH MANAGEMENT, LP Registered adviser FREL	$263,238	0.30%	9,685	—	-472 -4.6%	Shares	2026-10-15
Mid Blue Trust, Inc. FREL	$248,886	0.28%	9,157	—	+721 +8.5%	Shares	2026-10-15
Micro NorthLanding Financial Partners, LLC Registered adviser FREL	$243,668	0.27%	8,965	—	-197 -2.2%	Shares	2026-10-15
Mid PFG Advisors Registered adviser FREL	$241,711	0.27%	8,893	—	+9 +0.1%	Shares	2026-10-16
Mid CX Institutional Registered adviser FREL	$102,387	0.11%	3,767	—	+27 +0.7%	Shares	2026-10-02
Small Aspect Partners, LLC Registered adviser FREL	$63,111	0.07%	2,322	—	0 0.0%	Shares	2026-10-20
Small Decker Retirement Planning Inc. Registered adviser FREL	$17,938	0.02%	660	—	+22 +3.4%	Shares	2026-10-19
Small Investors Research Corp Registered adviser FREL	$4,810	0.01%	177	—	0 0.0%	Shares	2026-10-07
Mid CoreCap Advisors, LLC Registered adviser FREL	$462	0.00%	17	—	New	Shares	2026-10-08
Mid Robertson Stephens Wealth Management, LLC Registered adviser FREL	$445,711	0.50%	15,212	—	Sold Out	Shares	2026-07-29
Small LYNCH & ASSOCIATES/IN FREL	$409,936	0.46%	13,991	—	Sold Out	Shares	2026-07-13
Mid AdvisorNet Financial, Inc Registered adviser FREL	$13,067	0.01%	446	—	Sold Out	Shares	2026-07-23
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