# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001752724-25-176686
**Filing Date:** 2025-7
**Character Count:** 24839
**Document Hash:** e1e4dde4b3466d53f14b0d932b1adbfe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-176686.hdr.sgml**: 20250724

**ACCESSION NUMBER**: 0001752724-25-176686

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250724

**DATE AS OF CHANGE**: 20250724

**PERIOD START**: 20250531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIDELITY COVINGTON TRUST
- **CENTRAL INDEX KEY:** 0000945908

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07319
- **FILM NUMBER:** 251146273

**BUSINESS ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-563-7000

**MAIL ADDRESS:**
- **STREET 1:** 245 SUMMER STREET
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

## Series and Classes Contracts Data

### Fidelity Disruptive Medicine ETF (Series ID: S000079688)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000240928 | Fidelity Disruptive Medicine ETF | FMED            |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Fidelity Covington Trust

- **b. Investment Company Act file number:** 811-07319

- **c. CIK number of Registrant:** 0000945908

- **d. LEI of Registrant:** 549300JFYFTF85QAQR28

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 245 Summer Street

  - **City:** Boston

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02210

  - **Telephone number:** 1-800-FIDELITY

**Item A.2. Information about the Series.**

- **a. Name of Series:** Fidelity Disruptive Medicine ETF

- **b. EDGAR series identifier (if any):** S000079688

- **c. LEI of Series:** 5493000DCMODNM1AVU48

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-05-31

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $52062393.13

**Total Liabilities:** $2455001.12

**Net Assets:** $49607392.01

**Cash Not Reported:** $12363.50

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000240928 | -6.12%               | 1.27%                | -2.55%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $159875.05               | $-3432949.28                               |
| Month 2  | $-2403143.99             | $3045493.19                                |
| Month 3  | $-48559.04               | $-1248955.70                               |

### Schedule of Portfolio Investments

| Name                            | Title                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| THERMO FISHER SCIENTIFIC INC    | THERMO FISHER SCIENTIFIC INC                  | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |      1807 | NS      | $727895.74    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| PENUMBRA INC                    | PENUMBRA INC                                  | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      6186 | NS      | $1651476.42   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIGN TECHNOLOGY INC            | ALIGN TECHNOLOGY INC                          | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      2645 | NS      | $478586.30    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| LONZA GROUP AG                  | LONZA GROUP AG                                | CUSIP: N/A<br>LEI: 549300EFW4H2TCZ71055       | Long             | EC               | CORP              | CH        |      1063 | NS      | $735187.85    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PRIVIA HEALTH GROUP INC         | PRIVIA HEALTH GROUP INC                       | CUSIP: 74276R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     33946 | NS      | $772610.96    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| STRYKER CORP                    | STRYKER CORP                                  | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      3272 | NS      | $1251998.08   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| RESMED INC                      | RESMED INC                                    | CUSIP: 761152107<br>LEI: 529900T3QE5253CCXF22 | Long             | EC               | CORP              | US        |      3044 | NS      | $745140.76    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CRINETICS PHARMACEUTICALS INC   | CRINETICS PHARMACEUTICALS INC                 | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |     19000 | NS      | $579690.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: —       |
| PHREESIA INC                    | PHREESIA INC                                  | CUSIP: 71944F106<br>LEI: 5493000HHF8NU4QOCG53 | Long             | EC               | CORP              | US        |     24534 | NS      | $600837.66    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENERON PHARMACEUTICALS INC   | REGENERON PHARMACEUTICALS INC                 | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      2000 | NS      | $980560.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| KESTRA MEDICAL TECHNOLOGIES INC | KESTRA MEDICAL TECHNOLOGIES INC               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     15600 | NS      | $351312.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWAMSTERDAM PHARMA COMPANY NV  | NEWAMSTERDAM PHARMA COMPANY NV                | CUSIP: N/A<br>LEI: 984500B6549TF6E14D36       | Long             | EC               | CORP              | NL        |      9400 | NS      | $170234.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: —       |
| BRUKER CORP                     | BRUKER CORP                                   | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     10463 | NS      | $383992.10    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| DISC MEDICINE INC               | DISC MEDICINE INC                             | CUSIP: 254604101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3900 | NS      | $182052.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MOONLAKE IMMUNOTHERAPEUTICS     | MOONLAKE IMMUNOTHERAPEUTICS                   | CUSIP: 61559X104<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     11600 | NS      | $452516.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| LIFESTANCE HEALTH GROUP INC     | LIFESTANCE HEALTH GROUP INC                   | CUSIP: 53228F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    183746 | NS      | $1091451.24   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NURIX THERAPEUTICS INC          | NURIX THERAPEUTICS INC                        | CUSIP: 67080M103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12700 | NS      | $135001.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGENX SE                       | ARGENX SE SPONSORED ADR                       | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             | EC               | CORP              | NL        |      3016 | NS      | $1728952.16   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCEPT BIOROBOTICS CORP        | PROCEPT BIOROBOTICS CORP                      | CUSIP: 74276L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9900 | NS      | $574200.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: —       |
| BIONTECH SE                     | BIONTECH SE ADR                               | CUSIP: 09075V102<br>LEI: 894500UZJ5LG1F8J1U58 | Long             | EC               | CORP              | DE        |      2000 | NS      | $191620.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUX THERAPEUTICS INC          | JANUX THERAPEUTICS INC                        | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14042 | NS      | $334199.60    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYSTAR HOLDING CORP            | WAYSTAR HOLDING CORP                          | CUSIP: 946784105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     42048 | NS      | $1681079.04   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| VERACYTE INC                    | VERACYTE INC                                  | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |     14700 | NS      | $391167.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| VAXCYTE INC                     | VAXCYTE INC                                   | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |      9385 | NS      | $304918.65    | 0.61%             |  |  |  | No            |                  1 | On Loan: —       |
| OUTSET MEDICAL INC              | OUTSET MEDICAL INC                            | CUSIP: 690145206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15418 | NS      | $270894.26    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BOSTON SCIENTIFIC CORP          | BOSTON SCIENTIFIC CORP                        | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     30000 | NS      | $3157800.00   | 6.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ELI LILLY and CO                | ELI LILLY and CO                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1213 | NS      | $894793.71    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| STRUCTURE THERAPEUTICS INC      | STRUCTURE THERAPEUTICS INC ADR                | CUSIP: 86366E106<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      6300 | NS      | $137088.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| INTUITIVE SURGICAL INC          | INTUITIVE SURGICAL INC                        | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |      3400 | NS      | $1877956.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| DEXCOM INC                      | DEXCOM INC                                    | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     13207 | NS      | $1133160.60   | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AGILON HEALTH INC               | AGILON HEALTH INC                             | CUSIP: 00857U107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    283494 | NS      | $629356.68    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CYTOKINETICS INC                | CYTOKINETICS INC                              | CUSIP: 23282W605<br>LEI: 549300BE5DY1HW7IHA64 | Long             | EC               | CORP              | US        |     11735 | NS      | $364019.70    | 0.73%             |  |  |  | No            |                  1 | On Loan: —       |
| IRHYTHM TECHNOLOGIES INC        | IRHYTHM TECHNOLOGIES INC                      | CUSIP: 450056106<br>LEI: 549300FJI72RJGDQS384 | Long             | EC               | CORP              | US        |      2803 | NS      | $393821.50    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST PHARMACEUTICAL SVCS INC    | WEST PHARMACEUTICAL SVCS INC                  | CUSIP: 955306105<br>LEI: 5493007NKRGM1RJQ1P16 | Long             | EC               | CORP              | US        |      1620 | NS      | $341577.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust    | Fidelity Cash Central Fund                    | CUSIP: 31635A105<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |    315996 | NS      | $316058.83    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ASCENDIS PHARMA A/S             | ASCENDIS PHARMA AS SPON ADR                   | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      3865 | NS      | $629376.60    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EDWARDS LIFESCIENCES CORP       | EDWARDS LIFESCIENCES CORP                     | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     16129 | NS      | $1261610.38   | 2.54%             |  |  |  | No            |                  1 | On Loan: No      |
| LEGEND BIOTECH CORP             | LEGEND BIOTECH CORP SPON ADR                  | CUSIP: 52490G102<br>LEI: 254900EIUFZTW136H859 | Long             | EC               | CORP              | KY        |     40059 | NS      | $1159708.05   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRANA HEALTH INC              | ASTRANA HEALTH INC                            | CUSIP: 03763A207<br>LEI: 5493008O4R82Q4STJ936 | Long             | EC               | CORP              | US        |     12500 | NS      | $309875.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: —       |
| SARTORIUS STEDIM BIOTECH        | SARTORIUS STEDIM BIOTECH                      | CUSIP: N/A<br>LEI: 52990006IVXY7GCSSR39       | Long             | EC               | CORP              | FR        |      4896 | NS      | $1078477.66   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DANAHER CORP                    | DANAHER CORP                                  | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      8686 | NS      | $1649471.40   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| GLAUKOS CORP                    | GLAUKOS CORP                                  | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      5900 | NS      | $556311.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA INC                      | NATERA INC                                    | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1927 | NS      | $303945.71    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| EXACT SCIENCES CORP             | EXACT SCIENCES CORP                           | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     30936 | NS      | $1741078.08   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| DOXIMITY INC                    | DOXIMITY INC                                  | CUSIP: 26622P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11973 | NS      | $623673.57    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCELLX INC                     | ARCELLX INC                                   | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2464 | NS      | $152915.84    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| STOKE THERAPEUTICS INC          | STOKE THERAPEUTICS INC                        | CUSIP: 86150R107<br>LEI: 549300RD25SS2DIJHJ67 | Long             | EC               | CORP              | US        |     28200 | NS      | $269028.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: —       |
| DAY ONE BIOPHARMACEUTICALS INC  | DAY ONE BIOPHARMACEUTICALS INC                | CUSIP: 23954D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20300 | NS      | $129514.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: —       |
| UCB SA                          | UCB SA                                        | CUSIP: N/A<br>LEI: 2138008J191VLSGY5A09       | Long             | EC               | CORP              | BE        |      7373 | NS      | $1338630.49   | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| DYNE THERAPEUTICS INC           | DYNE THERAPEUTICS INC                         | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27200 | NS      | $325312.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| TANDEM DIABETES CARE INC        | TANDEM DIABETES CARE INC                      | CUSIP: 875372203<br>LEI: 549300JEPFOD0K4D3I05 | Long             | EC               | CORP              | US        |     18678 | NS      | $370197.96    | 0.75%             |  |  |  | No            |                  1 | On Loan: —       |
| ALNYLAM PHARMACEUTICALS INC     | ALNYLAM PHARMACEUTICALS INC                   | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |      6038 | NS      | $1838933.28   | 3.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Revere Street Trust    | Fidelity Securities Lending Cash Central Fund | CUSIP: 31635A303<br>LEI: 549300BDV45LJNXBZC55 | Long             | STIV             | RF                | US        |   2433974 | NS      | $2434217.01   | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| IMMUNOVANT INC                  | IMMUNOVANT INC                                | CUSIP: 45258J102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11100 | NS      | $164835.00    | 0.33%             |  |  |  | No            |                  1 | On Loan: —       |
| KYMERA THERAPEUTICS INC         | KYMERA THERAPEUTICS INC                       | CUSIP: 501575104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6900 | NS      | $204516.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| VEEVA SYS INC                   | VEEVA SYS INC CL A                            | CUSIP: 922475108<br>LEI: 549300YZEXPDB92M2F02 | Long             | EC               | CORP              | US        |      6381 | NS      | $1784765.70   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| XENON PHARMACEUTICALS INC       | XENON PHARMACEUTICALS INC                     | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | CA        |     15469 | NS      | $446280.65    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| COGENT BIOSCIENCES INC          | COGENT BIOSCIENCES INC                        | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19200 | NS      | $104448.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| DENALI THERAPEUTICS INC         | DENALI THERAPEUTICS INC                       | CUSIP: 24823R105<br>LEI: 549300ZTQ2HO18L3Q830 | Long             | EC               | CORP              | US        |     13900 | NS      | $184036.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| INSPIRE MEDICAL SYSTEMS INC     | INSPIRE MEDICAL SYSTEMS INC                   | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |      6624 | NS      | $915436.80    | 1.85%             |  |  |  | No            |                  1 | On Loan: —       |
| UNITEDHEALTH GROUP INC          | UNITEDHEALTH GROUP INC                        | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |      4277 | NS      | $1291269.07   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| MERUS NV                        | MERUS B.V.                                    | CUSIP: N/A<br>LEI: 549300W8GPUWU8QNU293       | Long             | EC               | CORP              | NL        |     14000 | NS      | $784980.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| INSULET CORP                    | INSULET CORP                                  | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |      6413 | NS      | $2084417.39   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ZAI LAB LTD                     | ZAI LAB LTD UNSPNRD ADR                       | CUSIP: 98887Q104<br>LEI: 549300P2UYQ9U5LY1T58 | Long             | EC               | CORP              | KY        |     21715 | NS      | $654490.10    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| MASIMO CORP                     | MASIMO CORP                                   | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |      7488 | NS      | $1216800.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Stacie M. Smith

**Signature:** Stacie M. Smith

**Name of Signer:** Stacie M. Smith

**Title:** President and Treasurer