# EDGAR Filing Document

**Accession Number:** 0000945908
**File Stem:** 0001410368-25-009097
**Filing Date:** 2025-9
**Character Count:** 49965
**Document Hash:** b955050544f43a620c768d0d00b14b0e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-009097.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-009097

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20250731

**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:** 251335808

**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 MSCI Real Estate Index ETF (Series ID: S000047984)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000151119 | Fidelity MSCI Real Estate Index ETF | FREL            |

## 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 MSCI Real Estate Index ETF

- **b. EDGAR series identifier (if any):** S000047984

- **c. LEI of Series:** 549300LO1Q5LFQ3OL350

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $1013118198.80

**Total Liabilities:** $73435.59

**Net Assets:** $1013044763.21

**Cash Not Reported:** $251834.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000151119 | 1.07%                | 0.77%                | 0.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-354649.83              | $9725950.47                                |
| Month 2  | $-6836089.59             | $7831502.88                                |
| Month 3  | $6134000.22              | $-6434631.52                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Global Medical REIT Inc                | Global Medical REIT Inc                                    | CUSIP: 37954A204<br>LEI: 549300HFRIPQDYU3GU60 | Long             | EC               |  | US        |     56002 | NS      | $374093.36    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Independence Realty Trust Inc          | Independence Realty Trust Inc                              | CUSIP: 45378A106<br>LEI: 549300Z3L8NU44NQEB29 | Long             | EC               |  | US        |    165120 | NS      | $2769062.40   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc         | Omega Healthcare Investors Inc                             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               |  | US        |    190750 | NS      | $7420175.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                     | Equity Residential                                         | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               |  | US        |    243492 | NS      | $15388694.40  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc                          | Welltower Inc                                              | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               |  | US        |    412682 | NS      | $68121417.74  | 6.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Howard Hughes Holdings Inc             | Howard Hughes Holdings Inc                                 | CUSIP: 44267T102<br>LEI: 254900TY494BHXIU6M60 | Long             | EC               | CORP              | US        |     23632 | NS      | $1624227.36   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc                             | Tanger Inc                                                 | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               |  | US        |     79310 | NS      | $2380886.20   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Jones Lang LaSalle Inc                 | Jones Lang LaSalle Inc                                     | CUSIP: 48020Q107<br>LEI: 6SYKCME112RT8TQUO411 | Long             | EC               | CORP              | US        |     33872 | NS      | $9157633.92   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties Inc               | Highwoods Properties Inc                                   | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               |  | US        |     76362 | NS      | $2215261.62   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corp                     | Realty Income Corp                                         | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               |  | US        |    616972 | NS      | $34630638.36  | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc             | One Liberty Properties Inc                                 | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               |  | US        |     14835 | NS      | $332007.30    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc  | Essential Properties Realty Trust Inc                      | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |    125169 | NS      | $3816402.81   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Outfront Media Inc                     | Outfront Media Inc                                         | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               |  | US        |     99811 | NS      | $1749686.83   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc        | Four Corners Property Trust Inc                            | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               |  | US        |     69984 | NS      | $1766396.16   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| WP Carey Inc                           | WP Carey Inc                                               | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               |  | US        |    156124 | NS      | $10016915.84  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                | UDR Inc                                                    | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               |  | US        |    223301 | NS      | $8773496.29   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| SITE Centers Corp                      | SITE Centers Corp                                          | CUSIP: 82981J851<br>LEI: W2AVA6SODOQ1LCYJQR54 | Long             | EC               |  | US        |     38266 | NS      | $412124.82    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Sila Realty Trust Inc                  | Sila Realty Trust Inc                                      | CUSIP: 146280508<br>LEI: 549300HXH142HWKKSW59 | Long             | EC               |  | US        |     40947 | NS      | $1000744.68   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Cushman & Wakefield PLC                | Cushman & Wakefield PLC                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |    118274 | NS      | $1441760.06   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc                             | Ventas Inc                                                 | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               |  | US        |    294849 | NS      | $19807955.82  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH Properties Inc                     | UMH Properties Inc                                         | CUSIP: 903002103<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EC               |  | US        |     56215 | NS      | $915180.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Easterly Government Properties Inc     | Easterly Government Properties Inc                         | CUSIP: 27616P301<br>LEI: 549300ERMCEFC6S8HL77 | Long             | EC               |  | US        |     31184 | NS      | $686048.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Forestar Group Inc                     | Forestar Group Inc                                         | CUSIP: 346232101<br>LEI: 549300BC2UB0GHV60V70 | Long             | EC               | CORP              | US        |     16903 | NS      | $419194.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Americold Realty Trust Inc             | Americold Realty Trust Inc                                 | CUSIP: 03064D108<br>LEI: 894500O3S3W62PQPO460 | Long             | EC               |  | US        |    193344 | NS      | $3108971.52   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp                   | Regency Centers Corp                                       | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               |  | US        |    125325 | NS      | $8948205.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc                   | Global Net Lease Inc                                       | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               |  | US        |    145676 | NS      | $1018275.24   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Saul Centers Inc                       | Saul Centers Inc                                           | CUSIP: 804395101<br>LEI: N/A                  | Long             | EC               |  | US        |     11050 | NS      | $356031.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Whitestone REIT                        | Whitestone REIT                                            | CUSIP: 966084204<br>LEI: N/A                  | Long             | EC               |  | US        |     34316 | NS      | $418312.04    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Health Realty Income Trust   | Universal Health Realty Income Trust                       | CUSIP: 91359E105<br>LEI: 549300L4MWZL4IH6H172 | Long             | EC               |  | US        |     10659 | NS      | $413462.61    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart                              | CubeSmart                                                  | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               |  | US        |    160656 | NS      | $6251124.96   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                    | Sun Communities Inc                                        | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               |  | US        |     89721 | NS      | $11128095.63  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerspace                            | Centerspace                                                | CUSIP: 15202L107<br>LEI: 5493002LG2SH9EEHT720 | Long             | EC               |  | US        |     12526 | NS      | $681790.18    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Farmland Partners Inc                  | Farmland Partners Inc                                      | CUSIP: 31154R109<br>LEI: 549300LB188CHPZ4IL37 | Long             | EC               |  | US        |     37397 | NS      | $391546.59    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ Lodging Trust                      | RLJ Lodging Trust                                          | CUSIP: 74965L101<br>LEI: N/A                  | Long             | EC               |  | US        |    113757 | NS      | $841801.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                | BXP Inc                                                    | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               |  | US        |    106583 | NS      | $6973725.69   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                           | Prologis Inc                                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               |  | US        |    653779 | NS      | $69810521.62  | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips Edison & Co Inc               | Phillips Edison & Co Inc                                   | CUSIP: 71844V201<br>LEI: 549300JPN4YHYPXTJQ85 | Long             | EC               |  | US        |     87829 | NS      | $2967741.91   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                  | American Homes 4 Rent                                      | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               |  | US        |    234857 | NS      | $8147189.33   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc                         | CBRE Group Inc                                             | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |    216858 | NS      | $33773464.92  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc      | Gaming and Leisure Properties Inc                          | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               |  | US        |    194819 | NS      | $8879850.02   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kennedy-Wilson Holdings Inc            | Kennedy-Wilson Holdings Inc                                | CUSIP: 489398107<br>LEI: 549300MOI1T78144X610 | Long             | EC               | CORP              | US        |     85991 | NS      | $629454.12    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| DiamondRock Hospitality Co             | DiamondRock Hospitality Co                                 | CUSIP: 252784301<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EC               |  | US        |    153497 | NS      | $1184996.84   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Realty Trust                    | Acadia Realty Trust                                        | CUSIP: 004239109<br>LEI: 254900C5XLB1YYJQSH07 | Long             | EC               |  | US        |     86312 | NS      | $1615760.64   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Empire State Realty Trust Inc          | Empire State Realty Trust Inc                              | CUSIP: 292104106<br>LEI: 549300VOKY1DUEQSB456 | Long             | EC               |  | US        |    105308 | NS      | $762429.92    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                           | Rayonier Inc                                               | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               |  | US        |    106275 | NS      | $2477270.25   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corp                    | Terreno Realty Corp                                        | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               |  | US        |     70792 | NS      | $3928248.08   | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Safehold Inc                           | Safehold Inc                                               | CUSIP: 78646V107<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | EC               |  | US        |     38443 | NS      | $537817.57    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| InvenTrust Properties Corp             | InvenTrust Properties Corp                                 | CUSIP: 46124J201<br>LEI: 5493006BQYSOBYVUFA03 | Long             | EC               |  | US        |     56214 | NS      | $1549819.98   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenia Hotels & Resorts Inc             | Xenia Hotels & Resorts Inc                                 | CUSIP: 984017103<br>LEI: 54930075IWIPHF5IQL62 | Long             | EC               |  | US        |     76025 | NS      | $966277.75    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                    | American Tower Corp                                        | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |    330152 | NS      | $68800375.28  | 6.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group Trust                | Kite Realty Group Trust                                    | CUSIP: 49803T300<br>LEI: N/A                  | Long             | EC               |  | US        |    157079 | NS      | $3452596.42   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust        | Federal Realty Investment Trust                            | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               |  | US        |     54162 | NS      | $4991569.92   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities Inc    | Alexandria Real Estate Equities Inc                        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               |  | US        |    112418 | NS      | $8592107.74   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Brandywine Realty Trust                | Brandywine Realty Trust                                    | CUSIP: 105368203<br>LEI: 5UZ46ZCYUFYYAC0DS831 | Long             | EC               |  | US        |    132599 | NS      | $530396.00    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryman Hospitality Properties Inc       | Ryman Hospitality Properties Inc                           | CUSIP: 78377T107<br>LEI: 529900GCCWW9SRMPJR11 | Long             | EC               |  | US        |     40545 | NS      | $3854207.70   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Marcus & Millichap Inc                 | Marcus & Millichap Inc                                     | CUSIP: 566324109<br>LEI: 549300B2HE8ULXNB1N48 | Long             | EC               | CORP              | US        |     19126 | NS      | $595966.16    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Diversified Healthcare Trust           | Diversified Healthcare Trust                               | CUSIP: 25525P107<br>LEI: N/A                  | Long             | EC               |  | US        |    146299 | NS      | $478397.73    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| JBG SMITH Properties                   | JBG SMITH Properties                                       | CUSIP: 46590V100<br>LEI: N/A                  | Long             | EC               |  | US        |     62226 | NS      | $1317946.68   | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| American Assets Trust Inc              | American Assets Trust Inc                                  | CUSIP: 024013104<br>LEI: N/A                  | Long             | EC               |  | US        |     36899 | NS      | $702187.97    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gladstone Commercial Corp              | Gladstone Commercial Corp                                  | CUSIP: 376536108<br>LEI: 529900EVVV534W8R0T32 | Long             | EC               |  | US        |     34774 | NS      | $457278.10    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                   | Lamar Advertising Co                                       | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |     62580 | NS      | $7650405.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                       | Crown Castle Inc                                           | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               |  | US        |    310226 | NS      | $32601650.34  | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc             | Brixmor Property Group Inc                                 | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               |  | US        |    215340 | NS      | $5626834.20   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| LTC Properties Inc                     | LTC Properties Inc                                         | CUSIP: 502175102<br>LEI: 549300NRZP8IJG2KY677 | Long             | EC               |  | US        |     34224 | NS      | $1164984.96   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                | COPT Defense Properties                                    | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               |  | US        |     81167 | NS      | $2214235.76   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CBL & Associates Properties Inc        | CBL & Associates Properties Inc                            | CUSIP: 124830878<br>LEI: 529900EIVFBRS4PUBZ13 | Long             | EC               |  | US        |     10833 | NS      | $293140.98    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                         | Public Storage                                             | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               |  | US        |    112885 | NS      | $30697946.90  | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc           | American Healthcare REIT Inc                               | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               |  | US        |    109104 | NS      | $4215778.56   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc                | Millrose Properties Inc                                    | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               |  | US        |     84673 | NS      | $2539343.27   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc              | Host Hotels & Resorts Inc                                  | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               |  | US        |    502357 | NS      | $7897052.04   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc           | Sunstone Hotel Investors Inc                               | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               |  | US        |    142844 | NS      | $1249885.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc           | Plymouth Industrial REIT Inc                               | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               |  | US        |     32341 | NS      | $469591.32    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR Properties                         | EPR Properties                                             | CUSIP: 26884U109<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EC               |  | US        |     54454 | NS      | $2997148.16   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc               | Broadstone Net Lease Inc                                   | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               |  | US        |    137370 | NS      | $2230888.80   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Emmett Inc                     | Douglas Emmett Inc                                         | CUSIP: 25960P109<br>LEI: N/A                  | Long             | EC               |  | US        |    114773 | NS      | $1739958.68   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc                       | CoStar Group Inc                                           | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |    299744 | NS      | $28532631.36  | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Elme Communities                       | Elme Communities                                           | CUSIP: 939653101<br>LEI: 549300DI34BGS8LVKW95 | Long             | EC               |  | US        |     65010 | NS      | $980350.80    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Sabra Health Care REIT Inc             | Sabra Health Care REIT Inc                                 | CUSIP: 78573L106<br>LEI: 549300E3BC7GU7TAZ621 | Long             | EC               |  | US        |    169365 | NS      | $3053650.95   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corp                      | Kimco Realty Corp                                          | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               |  | US        |    481306 | NS      | $10218126.38  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                | Pebblebrook Hotel Trust                                    | CUSIP: 70509V100<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EC               |  | US        |     88626 | NS      | $888918.78    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander & Baldwin Inc                | Alexander & Baldwin Inc                                    | CUSIP: 014491104<br>LEI: N/A                  | Long             | EC               |  | US        |     56009 | NS      | $1007041.82   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Healthcare Trust Inc         | Community Healthcare Trust Inc                             | CUSIP: 20369C106<br>LEI: 549300FATSRCMKOV9536 | Long             | EC               |  | US        |     25083 | NS      | $385525.71    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First Industrial Realty Trust Inc      | First Industrial Realty Trust Inc                          | CUSIP: 32054K103<br>LEI: N/A                  | Long             | EC               |  | US        |     94656 | NS      | $4611640.32   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| National Health Investors Inc          | National Health Investors Inc                              | CUSIP: 63633D104<br>LEI: 549300ZPKZIG6DKDEC02 | Long             | EC               |  | US        |     33193 | NS      | $2318862.98   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust Inc               | Essex Property Trust Inc                                   | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               |  | US        |     45839 | NS      | $11926391.02  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Opendoor Technologies Inc              | Opendoor Technologies Inc                                  | CUSIP: 683712103<br>LEI: 254900KX11YZ4HV5BQ47 | Long             | EC               | CORP              | US        |    459995 | NS      | $846390.80    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                  | Camden Property Trust                                      | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               |  | US        |     76371 | NS      | $8339713.20   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexander's Inc                        | Alexander's Inc                                            | CUSIP: 014752109<br>LEI: 549300TZM28P04U5R635 | Long             | EC               |  | US        |      1913 | NS      | $480526.47    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc                      | Iron Mountain Inc                                          | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               |  | US        |    209258 | NS      | $20373358.88  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                   | Vornado Realty Trust                                       | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |    115841 | NS      | $4450611.22   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Curbline Properties Corp               | Curbline Properties Corp                                   | CUSIP: 23128Q101<br>LEI: 529900PGR41LH0I81I15 | Long             | EC               |  | US        |     68803 | NS      | $1520546.30   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Inc                            | Compass Inc                                                | CUSIP: 20464U100<br>LEI: 254900DMGQSTC3I2IM78 | Long             | EC               | CORP              | US        |    325233 | NS      | $2582350.02   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors           | State Street Institutional Treasury Plus Money Market Fund | CUSIP: 857492862<br>LEI: 549300PNASLVKQG64331 | Long             | STIV             | RF                | US        |   2640000 | NS      | $2640000.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| FRP Holdings Inc                       | FRP Holdings Inc                                           | CUSIP: 30292L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11495 | NS      | $303468.00    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Macerich Co/The                        | Macerich Co/The                                            | CUSIP: 554382101<br>LEI: 529900PSWCB5KI0JYU46 | Long             | EC               |  | US        |    178168 | NS      | $2977187.28   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                | SBA Communications Corp                                    | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               |  | US        |     77185 | NS      | $17345013.20  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties Inc            | Summit Hotel Properties Inc                                | CUSIP: 866082100<br>LEI: 254900OBQWJK6X20LS71 | Long             | EC               |  | US        |     85520 | NS      | $446414.40    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Newmark Group Inc                      | Newmark Group Inc                                          | CUSIP: 65158N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    103578 | NS      | $1571278.26   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Apartment Investment and Management Co | Apartment Investment and Management Co                     | CUSIP: 03748R747<br>LEI: 549300O8FT5GJ4RU1D57 | Long             | EC               |  | US        |    101388 | NS      | $852673.08    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Piedmont Realty Trust Inc              | Piedmont Realty Trust Inc                                  | CUSIP: 720190206<br>LEI: N/A                  | Long             | EC               |  | US        |     95334 | NS      | $720725.04    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities Inc              | AvalonBay Communities Inc                                  | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               |  | US        |    101400 | NS      | $18888792.00  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                      | Getty Realty Corp                                          | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               |  | US        |     38514 | NS      | $1070304.06   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| eXp World Holdings Inc                 | eXp World Holdings Inc                                     | CUSIP: 30212W100<br>LEI: 549300TWVVZC283VEC32 | Long             | EC               | CORP              | US        |     59359 | NS      | $639890.02    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PotlatchDeltic Corp                    | PotlatchDeltic Corp                                        | CUSIP: 737630103<br>LEI: 54930084YA8UJOTXDM59 | Long             | EC               |  | US        |     57074 | NS      | $2333755.86   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Urban Edge Properties                  | Urban Edge Properties                                      | CUSIP: 91704F104<br>LEI: N/A                  | Long             | EC               |  | US        |     90187 | NS      | $1778487.64   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Hospitality REIT Inc             | Apple Hospitality REIT Inc                                 | CUSIP: 03784Y200<br>LEI: 549300EVZAR0FBZO4F16 | Long             | EC               |  | US        |    164781 | NS      | $1936176.75   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| National Storage Affiliates Trust      | National Storage Affiliates Trust                          | CUSIP: 637870106<br>LEI: 529900FS06O8GOYNR108 | Long             | EC               |  | US        |     54120 | NS      | $1594375.20   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corp                     | Kilroy Realty Corp                                         | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               |  | US        |     80417 | NS      | $2964170.62   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Group Inc                    | Paramount Group Inc                                        | CUSIP: 69924R108<br>LEI: 5493006GJU1CFI7Z5J17 | Long             | EC               |  | US        |    135898 | NS      | $831695.76    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| VICI Properties Inc                    | VICI Properties Inc                                        | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               |  | US        |    744431 | NS      | $24268450.60  | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NETSTREIT Corp                         | NETSTREIT Corp                                             | CUSIP: 64119V303<br>LEI: 254900CJL0EDMEQ25Q84 | Long             | EC               |  | US        |     61227 | NS      | $1116168.21   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc               | Simon Property Group Inc                                   | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               |  | US        |    232659 | NS      | $38107217.61  | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| St Joe Co/The                          | St Joe Co/The                                              | CUSIP: 790148100<br>LEI: 529900XVHOT3BF8PWG49 | Long             | EC               | CORP              | US        |     30454 | NS      | $1537927.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                 | DJ US REAL ESTATE SEP25                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DE               |  | US        |        75 | NC      | $-10886.81    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                   | LXP Industrial Trust                                       | CUSIP: 529043101<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               |  | US        |    214930 | NS      | $1667856.80   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Agree Realty Corp                      | Agree Realty Corp                                          | CUSIP: 008492100<br>LEI: N/A                  | Long             | EC               |  | US        |     73379 | NS      | $5261274.30   | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                           | NNN REIT Inc                                               | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               |  | US        |    132855 | NS      | $5481597.30   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Armada Hoffler Properties Inc          | Armada Hoffler Properties Inc                              | CUSIP: 04208T108<br>LEI: 549300WQRSIV6XZT9313 | Long             | EC               |  | US        |     68020 | NS      | $464576.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NexPoint Residential Trust Inc         | NexPoint Residential Trust Inc                             | CUSIP: 65341D102<br>LEI: 549300U2J6XVYBF87166 | Long             | EC               |  | US        |     17670 | NS      | $550950.60    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc               | EastGroup Properties Inc                                   | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |     35022 | NS      | $5716991.28   | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Medical Properties Trust Inc           | Medical Properties Trust Inc                               | CUSIP: 58463J304<br>LEI: 254900U6E39J1MQCCY14 | Long             | EC               |  | US        |    429176 | NS      | $1768205.12   | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc  | Mid-America Apartment Communities Inc                      | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               |  | US        |     83330 | NS      | $11868691.90  | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc               | Digital Realty Trust Inc                                   | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               |  | US        |    232821 | NS      | $41078937.24  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Veris Residential Inc                  | Veris Residential Inc                                      | CUSIP: 554489104<br>LEI: 254900KTVBRYJCQU2J23 | Long             | EC               |  | US        |     62133 | NS      | $874832.64    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial Inc                    | STAG Industrial Inc                                        | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               |  | US        |    130006 | NS      | $4463105.98   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniti Group Inc                        | Uniti Group Inc                                            | CUSIP: 91325V108<br>LEI: 549300V3NU625PJUVA84 | Long             | EC               |  | US        |    185100 | NS      | $984732.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                        | Weyerhaeuser Co                                            | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               |  | US        |    520852 | NS      | $13047342.60  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc                | Extra Space Storage Inc                                    | CUSIP: 30225T102<br>LEI: N/A                  | Long             | EC               |  | US        |    151055 | NS      | $20295749.80  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Landbridge Co LLC                      | Landbridge Co LLC                                          | CUSIP: 514952100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11498 | NS      | $651706.64    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc          | Rexford Industrial Realty Inc                              | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |    157296 | NS      | $5746022.88   | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SL Green Realty Corp                   | SL Green Realty Corp                                       | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               |  | US        |     51235 | NS      | $2933203.75   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Realty Trust Inc            | Healthcare Realty Trust Inc                                | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               |  | US        |    272138 | NS      | $4180039.68   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix Inc                            | Equinix Inc                                                | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               |  | US        |     52249 | NS      | $41024347.33  | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc              | Healthpeak Properties Inc                                  | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               |  | US        |    506606 | NS      | $8581905.64   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc                 | Cousins Properties Inc                                     | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               |  | US        |    119438 | NS      | $3236769.80   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc        | Equity LifeStyle Properties Inc                            | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |    128059 | NS      | $7673295.28   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Zillow Group Inc                       | Zillow Group Inc                                           | CUSIP: 98954M200<br>LEI: 2549002XEELQDIR6FU05 | Long             | EC               | CORP              | US        |    112676 | NS      | $8963375.80   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CareTrust REIT Inc                     | CareTrust REIT Inc                                         | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               |  | US        |    133571 | NS      | $4247557.80   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc              | Park Hotels & Resorts Inc                                  | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               |  | US        |    151092 | NS      | $1610640.72   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc                   | Invitation Homes Inc                                       | CUSIP: 46187W107<br>LEI: N/A                  | Long             | EC               |  | US        |    436428 | NS      | $13376518.20  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-20

**Name of Applicant:** FIDELITY COVINGTON TRUST

**Signature:** Stacie M Smith

**Name of Signer:** Stacie M Smith

**Title:** President and Treasurer