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Fidelity Enhanced Small Cap Core ETF
FESM

145 hedge funds and large institutions have $1.75B invested in Fidelity Enhanced Small Cap Core ETF in 2025 Q3 according to their latest regulatory filings, with 35 funds opening new positions, 81 increasing their positions, 19 reducing their positions, and 7 closing their positions.

New
Increased
Maintained
Reduced
Closed

400% more first-time investments, than exits

New positions opened: 35 | Existing positions closed: 7

326% more repeat investments, than reductions

Existing positions increased: 81 | Existing positions reduced: 19

40% more funds holding in top 10

Funds holding in top 10: 5 → 7 (+2)

37% more capital invested

Capital invested by funds: $1.28B → $1.75B (+$471M)

22% more funds holding

Funds holding: 119 → 145 (+26)

4.01% more ownership

Funds ownership: 68.09% → 72.1% (+4%)

Holders
145
Holders Change
+26
Holders Change %
+21.85%
% of All Funds
1.9%
Holding in Top 10
7
Holding in Top 10 Change
+2
Holding in Top 10 Change %
+40%
% of All Funds
0.09%
New
35
Increased
81
Reduced
19
Closed
7
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
VIA
Vantagepoint Investment Advisers
District of Columbia
+$48.3M
2
CWM
Calamos Wealth Management
Illinois
+$31.8M
3
LPL Financial
LPL Financial
California
+$31.5M
4
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$28.7M
5
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$26.1M

Top Sellers

1
Goldman Sachs
Goldman Sachs
New York
-$5.77M
2
Commonwealth Equity Services
Commonwealth Equity Services
Massachusetts
-$5.12M
3
GFA
Gallagher Fiduciary Advisors
Illinois
-$4.23M
4
CWM
Cornerstone Wealth Management
Missouri
-$1.21M
5
SPC
Sigma Planning Corp
Michigan
-$520K
Name Holding Trade Value Shares
Change 		Change in
Stake
PAS
51
PKS Advisory Services
New York
$2.13M +$357K +10,405 +22%
Jane Street
52
Jane Street
New York
$2.12M -$24.4K -711 -1%
FTUS
53
Flow Traders U.S.
New York
$1.97M +$1.85M +53,973 New
GFA
54
Gallagher Fiduciary Advisors
Illinois
$1.95M -$4.23M -123,207 -70%
CIA
55
Concurrent Investment Advisors
Florida
$1.95M +$1.41M +41,011 +335%
Susquehanna International Group
56
Susquehanna International Group
Pennsylvania
$1.89M +$500K +14,554 +39%
IAG
57
Investmark Advisory Group
Connecticut
$1.86M +$209K +6,084 +14%
CF
58
Convergence Financial
Missouri
$1.77M +$476K +13,857 +40%
IAS
59
Investment Advisory Services
Texas
$1.65M +$538K +15,668 +53%
IA
60
IFG Advisory
Georgia
$1.64M +$893K +26,009 +138%
HIS
61
Horizon Investment Services
Indiana
$1.64M +$150K +4,362 +11%
PA
62
PFG Advisors
Arizona
$1.63M +$756K +22,021 +98%
HI
63
Harbour Investments
Wisconsin
$1.62M +$62.5K +1,819 +4%
TWC
64
TD Waterhouse Canada
Ontario, Canada
$1.47M +$206 +6 +0%
Calamos Advisors
65
Calamos Advisors
Illinois
$1.46M +$1.37M +39,985 New
GCA
66
Greenwood Capital Associates
South Carolina
$1.45M +$160K +4,651 +13%
Bank of America
67
Bank of America
North Carolina
$1.4M +$1.11M +32,197 +521%
CWA
68
Canvas Wealth Advisors
Kansas
$1.2M +$476K +13,858 +74%
Citadel Advisors
69
Citadel Advisors
Florida
$1.1M +$1.03M +29,965 New
VA
70
Valmark Advisers
Ohio
$1.07M +$40.5K +1,178 +4%
BW
71
Balance Wealth
Ohio
$1M -$22.2K -645 -2%
CL
72
CLG LLC
California
$996K +$205K +5,967 +28%
SFS
73
Sowell Financial Services
Arkansas
$937K +$318K +9,247 +56%
EH
74
Equitable Holdings
New York
$889K +$340K +9,904 +69%
PFA
75
Petra Financial Advisors
Colorado
$865K +$813K +23,652 New
1 2
3
4 5

FESM Hedge Fund Activity: Q3 2025 in Review

145 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Fidelity Enhanced Small Cap Core ETF (FESM) for Q3 2025, worth a combined $1.75B — up 37% from $1.28B a quarter earlier.

Buyers outnumbered sellers: 35 funds opened new FESM positions and 7 closed out — a net gain of 28 holders — while 81 added to existing stakes and 19 trimmed.

The largest buyer was Vantagepoint Investment Advisers, opening a new position worth an estimated $48.3M. The largest seller was Goldman Sachs, exiting entirely with an estimated $5.77M sold.

  • 145 institutional investors held Fidelity Enhanced Small Cap Core ETF (FESM) as of Q3 2025, up from 119 in Q2 2025.
  • Funds reported $1.75B of Fidelity Enhanced Small Cap Core ETF stock for Q3 2025, up 37% quarter-over-quarter.
  • 35 funds opened new Fidelity Enhanced Small Cap Core ETF positions in Q3 2025 and 7 closed out, a net change of +28 holders.
  • The largest Fidelity Enhanced Small Cap Core ETF buyer in Q3 2025 was Vantagepoint Investment Advisers, an estimated $48.3M added.
  • The largest Fidelity Enhanced Small Cap Core ETF seller in Q3 2025 was Goldman Sachs, an estimated $5.77M sold.

Based on aggregated 13F filings for Q3 2025.