# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0000035402-26-004137
**Filing Date:** 2026-6
**Character Count:** 23689
**Document Hash:** 7fd475259f7ef8f6a2ca1e9296f3bce8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000035402-26-004137.hdr.sgml**: 20260626

**ACCESSION NUMBER**: 0000035402-26-004137

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260626

**DATE AS OF CHANGE**: 20260626

**PERIOD START**: 20260731

**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:** 261127157

**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 Real Estate Investment ETF (Series ID: S000070235)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000223346 | Fidelity Real Estate Investment ETF | FPRO            |

## Nport-Ex

**Quarterly Holdings Report**

**for**

**Fidelity® Real Estate Investment ETF**

**April 30, 2026**

RIE-NPRT3-0626

1.9900254.105 ---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Common Stocks - 99.2%** | &nbsp;&nbsp;**Common Stocks - 99.2%** | &nbsp;&nbsp;**Common Stocks - 99.2%** |
|  | Shares | Value ($)<br>|
| UNITED STATES - 99.2%  |  |  |
| Real Estate - 99.2% |  |  |
| Health Care REITs - 12.8% |  |  |
| Healthpeak Properties Inc  | 7849 | 126918 |
| Ventas Inc  | 5452 | 479013 |
| Welltower Inc  | 5978 | 1299259 |
|  |  | 1905190 |
| Industrial REITs - 14.5% |  |  |
| Americold Realty Trust Inc  | 6581 | 80485 |
| Prologis Inc  | 10191 | 1447326 |
| STAG Industrial Inc Class A  | 12054 | 465043 |
| Terreno Realty Corp  | 2658 | 173302 |
|  |  | 2166156 |
| Real Estate Management & Development - 6.5% |  |  |
| CBRE Group Inc Class A (a) | 3267 | 466299 |
| Compass Inc Class A (a) | 10893 | 82460 |
| CoStar Group Inc (a) | 4176 | 144531 |
| Jones Lang LaSalle Inc (a) | 595 | 189287 |
| Zillow Group Inc Class C (a) | 2022 | 89777 |
|  |  | 972354 |
| Residential REITs - 10.7% |  |  |
| American Homes 4 Rent Class A  | 8348 | 265800 |
| Camden Property Trust  | 1534 | 161101 |
| Equity Residential  | 6329 | 413790 |
| Invitation Homes Inc  | 7048 | 202771 |
| Sun Communities Inc  | 617 | 78877 |
| UDR Inc  | 12943 | 470349 |
|  |  | 1592688 |
| Retail REITs - 20.7% |  |  |
| Acadia Realty Trust  | 2732 | 59066 |
| Curbline Properties Corp  | 1568 | 43277 |
| FrontView REIT Inc  | 3080 | 54516 |
| InvenTrust Properties Corp  | 1478 | 47473 |
| Kimco Realty Corp  | 25859 | 611307 |
| Macerich Co/The  | 4912 | 106738 |
| NNN REIT Inc  | 12342 | 540456 |
| Phillips Edison & Co Inc  | 3178 | 127644 |
| Realty Income Corp  | 5544 | 356147 |
| Regency Centers Corp  | 1958 | 152430 |
| Simon Property Group Inc  | 3110 | 633538 |
| Tanger Inc  | 3017 | 111870 |
| Urban Edge Properties  | 10800 | 236736 |
|  |  | 3081198 |
| Specialized REITs - 34.0% |  |  |
| American Tower Corp  | 6682 | 1220868 |
| CubeSmart  | 3055 | 123666 |
| Digital Realty Trust Inc  | 3345 | 672144 |
| Equinix Inc  | 1327 | 1436916 |
| Extra Space Storage Inc  | 561 | 80408 |
| Four Corners Property Trust Inc  | 4883 | 124858 |
| Iron Mountain Inc  | 3128 | 394097 |
| Lamar Advertising Co Class A  | 459 | 63269 |
| Public Storage  | 1703 | 515072 |
| SBA Communications Corp Class A  | 1103 | 243984 |
| Weyerhaeuser Co  | 7078 | 173553 |
|  |  | 5048835 |
| TOTAL UNITED STATES |  | 14766421 |
| <br> **TOTAL COMMON STOCKS**<br> (Cost $13,149,895) |  | <br> **14766421** |

---

---

| | |
|:---|:---|
| <br> **TOTAL INVESTMENT IN SECURITIES - 99.2%**<br> (Cost $13,149,895)<br>| <br>**14766421** |
| **NET OTHER ASSETS (LIABILITIES) - 0.8%**  | **126137** |
| **NET ASSETS - 100.0%** | **14892558** |

---

**Legend**

(a) Non-income producing.

**Investment Valuation**

Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.

The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:

Level 1 - Unadjusted quoted prices in active markets for identical investments

Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)

Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.

For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.

*The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.*

*Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.*

## 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 Real Estate Investment ETF

- **b. EDGAR series identifier (if any):** S000070235

- **c. LEI of Series:** 549300USNCZI1EH3R747

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $14899449.52

**Total Liabilities:** $7049.90

**Net Assets:** $14892399.62

**Cash Not Reported:** $121838.21

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000223346 | 6.42%                | -5.94%               | 8.58%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7973.13                 | $869576.24                                 |
| Month 2  | $-6473.24                | $-929696.05                                |
| Month 3  | $19436.36                | $1134275.07                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DIGITAL REALTY TRUST INC        | DIGITAL REALTY TRUST INC       | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |      3345 | NS      | $672144.30    | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUINIX INC                     | EQUINIX INC                    | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1327 | NS      | $1436915.41   | 9.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CAMDEN PROPERTY TRUST           | CAMDEN PROPERTY TRUST - REIT   | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      1534 | NS      | $161100.68    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FOUR CORNERS PROPERTY TRUST INC | FOUR CORNERS PPTY TR INC W/I   | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |      4883 | NS      | $124858.31    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| EXTRA SPACE STORAGE INC         | EXTRA SPACE STORAGE INC        | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       561 | NS      | $80408.13     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRENO RLTY CORP               | TERRENO REALTY CORP            | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2658 | NS      | $173301.60    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLTOWER INC                   | WELLTOWER INC                  | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |      5978 | NS      | $1299258.52   | 8.72%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORP               | KIMCO REALTY CORPORATION       | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     25859 | NS      | $611306.76    | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FRONTVIEW REIT INC              | FRONTVIEW REIT INC             | CUSIP: 35922N100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3080 | NS      | $54516.00     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| ACADIA REALTY TRUST             | ACADIA RLTY TR REIT            | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               | CORP              | US        |      2732 | NS      | $59065.84     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JONES LANG LASALLE INC          | JONES LANG LASALLE INC         | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |       595 | NS      | $189287.35    | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN COMMUNITIES INC             | SUN COMMUNITIES INC - REIT     | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |       617 | NS      | $78877.28     | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE GROUP INC                  | CBRE GROUP INC - CL A          | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |      3267 | NS      | $466298.91    | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT INC                    | NNN REIT INC                   | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     12342 | NS      | $540456.18    | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                       | CUBESMART                      | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3055 | NS      | $123666.40    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| VENTAS INC                      | VENTAS INC REIT                | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |      5452 | NS      | $479012.72    | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE                  | PUBLIC STORAGE                 | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      1703 | NS      | $515072.35    | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| URBAN EDGE PROPERTIES           | URBAN EDGE PROPERTIES          | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10800 | NS      | $236736.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICOLD REALTY TRUST          | AMERICOLD REALTY TRUST         | CUSIP: 03064D108<br>LEI: 549300R7N1V5YV8MWH02 | Long             | EC               | CORP              | US        |      6581 | NS      | $80485.63     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS INC                     | COMPASS INC                    | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |     10893 | NS      | $82460.01     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER CO                 | WEYERHAEUSER CO                | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      7078 | NS      | $173552.56    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| HEALTHPEAK PROPERTIES INC       | HEALTHPEAK PROPERTIES INC      | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |      7849 | NS      | $126918.33    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL              | EQUITY RESIDENTIAL REIT        | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |      6329 | NS      | $413790.02    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| INVENTRUST PROPERTIES CORP      | INLAND AMERICN REAL EST TR INC | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               | CORP              | US        |      1478 | NS      | $47473.36     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS EDISON and CO INC      | PHILLIPS EDISON and CO INC     | CUSIP: 71844V201<br>LEI: 549300UC1QJSQ49IC243 | Long             | EC               | CORP              | US        |      3178 | NS      | $127644.37    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG INDUSTRIAL INC             | STAG INDUSTRIAL INC CL A       | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     12054 | NS      | $465043.32    | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MACERICH CO                     | MACERICH COMPANY               | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               | CORP              | US        |      4912 | NS      | $106737.76    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| INVITATION HOMES INC            | INVITATION HOMES INC           | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7048 | NS      | $202770.96    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CURBLINE PROPERTIES CORP        | CURBLINE PROPERTIES CORP       | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               | CORP              | US        |      1568 | NS      | $43276.80     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT           | AMERICAN HOMES 4 RENT          | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |      8348 | NS      | $265800.32    | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| REALTY INCOME CORP              | REALTY INCOME CORP REIT        | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |      5544 | NS      | $356146.56    | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| COSTAR GROUP INC                | COSTAR GROUP INC               | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |      4176 | NS      | $144531.36    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| IRON MOUNTAIN INC               | IRON MOUNTAIN INC              | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |      3128 | NS      | $394096.72    | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR INC                         | UDR INC                        | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     12943 | NS      | $470348.62    | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA COMMUNICATIONS CORP         | SBA COMMUNICATIONS CORP        | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      1103 | NS      | $243983.60    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ZILLOW GROUP INC                | ZILLOW GROUP INC CL C          | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |      2022 | NS      | $89776.80     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SIMON PROPERTY GROUP INC        | SIMON PPTY GROUP INC - REIT    | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |      3110 | NS      | $633538.10    | 4.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN TOWER CORP             | AMERICAN TOWER CORP            | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      6682 | NS      | $1220868.22   | 8.20%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP(REIT)      | REGENCY CENTERS CORP REIT      | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |      1958 | NS      | $152430.30    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| TANGER INC                      | TANGER INC- REIT               | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |      3017 | NS      | $111870.36    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| PROLOGIS INC                    | PROLOGIS INC REIT              | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     10191 | NS      | $1447325.82   | 9.72%             |  |  |  | No            |                  1 | On Loan: No      |
| LAMAR ADVERTISING CO            | LAMAR ADVERTISING CO CL A      | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |       459 | NS      | $63268.56     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-30

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

**Signature:** Stacie M. Smith

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

**Title:** President and Treasurer