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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
MCM
126
MAI Capital Management
Ohio
$30K – – –
CPG
127
Cornerstone Planning Group
New Jersey
$27.7K +$10.6K +308 +70%
AssetMark Inc
128
AssetMark Inc
California
$25.7K – – –
CMP
129
Coston McIsaac & Partners
Maine
$23K +$22.5K +655 New
AF
130
Advisornet Financial
Minnesota
$21K +$34 +1 +0.2%
CWP
131
Concord Wealth Partners
Virginia
$20.9K -$344 -10 -2%
Russell Investments Group
132
Russell Investments Group
United Kingdom
$16.7K – – –
LFG
133
Larson Financial Group
Missouri
$16.7K -$2.99K -87 -16%
Bank of Montreal
134
Bank of Montreal
Ontario, Canada
$14.9K +$34 +1 +0.2%
BWL
135
Bogart Wealth LLC
Virginia
$13.1K – – –
SC
136
SouthState Corp
Florida
$12.2K +$11.4K +333 New
Rockefeller Capital Management
137
Rockefeller Capital Management
New York
$9.62K +$9K +262 New
HWM
138
HighMark Wealth Management
Minnesota
$6.95K – – –
PFA
139
Pathway Financial Advisers
Indiana
$6.91K +$6.53K +190 New
CFG
140
CKW Financial Group
Hawaii
$4K – – –
WSFS
141
Wilmington Savings Fund Society
Delaware
$3.36K – – –
AWM
142
AE Wealth Management
Kansas
$1.18K -$9.21K -268 -89%
FDW
143
Fourth Dimension Wealth
Ohio
$731 – – –
CWM
144
Copia Wealth Management
Oregon
$292 – – –
AF
145
Allworth Financial
California
$20 +$34 +1 New
Goldman Sachs
146
Goldman Sachs
New York
– -$5.77M -180,325 Closed
CWM
147
Cornerstone Wealth Management
Missouri
– -$1.21M -37,767 Closed
SPC
148
Sigma Planning Corp
Michigan
– -$520K -16,247 Closed
SWGC
149
Summit Wealth Group (Colorado)
Colorado
– -$269K -8,418 Closed
KWM
150
Kiker Wealth Management
Georgia
– -$19.8K -619 Closed
3 4 5
6
7

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.