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Fidelity MSCI Real Estate Index ETF
FREL

201 hedge funds and large institutions have $468M invested in Fidelity MSCI Real Estate Index ETF in 2025 Q1 according to their latest regulatory filings, with 18 funds opening new positions, 90 increasing their positions, 58 reducing their positions, and 25 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more repeat investments, than reductions

Existing positions increased: 90 | Existing positions reduced: 58

25% more funds holding in top 10

Funds holding in top 10: 4 → 5 (+1)

4% less funds holding

Funds holding: 210 → 201 (-9)

17.18% less ownership

Funds ownership: 63.27% → 46.09% (-17%)

28% less capital invested

Capital invested by funds: $647M → $468M (-$179M)

28% less first-time investments, than exits

New positions opened: 18 | Existing positions closed: 25

Holders
201
Holders Change
-9
Holders Change %
-4.29%
% of All Funds
2.7%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.07%
New
18
Increased
90
Reduced
58
Closed
25
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$13.6M
2
Cetera Investment Advisers
Cetera Investment Advisers
Illinois
+$4.88M
3
AM
AGF Management
Ontario, Canada
+$4.32M
4
AWM
AE Wealth Management
Kansas
+$3.71M
5
HCA
Heck Capital Advisors
Wisconsin
+$3.29M

Top Sellers

1
EP
Essential Planning
New Hampshire
-$215M
2
PNC Financial Services Group
PNC Financial Services Group
Pennsylvania
-$2.71M
3
Kovitz Investment Group Partners
Kovitz Investment Group Partners
Illinois
-$1.78M
4
Lido Advisors
Lido Advisors
California
-$1.5M
5
Citadel Advisors
Citadel Advisors
Florida
-$971K
Name Holding Trade Value Shares
Change 		Change in
Stake
PNC Financial Services Group
1
PNC Financial Services Group
Pennsylvania
$33.4M -$2.71M -98,734 -8%
Lido Advisors
2
Lido Advisors
California
$31.7M -$1.5M -54,424 -5%
AWM
3
AE Wealth Management
Kansas
$28.2M +$3.71M +135,000 +15%
Envestnet Asset Management
4
Envestnet Asset Management
Illinois
$24.4M +$13.6M +493,841 +125%
CNC
5
Citizens & Northern Corp
Pennsylvania
$21.7M +$201K +7,302 +0.9%
T
6
TrueFG
Texas
$16.1M +$647K +23,534 +4%
Commonwealth Equity Services
7
Commonwealth Equity Services
Massachusetts
$15.9M +$354K +12,870 +2%
BDF
8
Black Diamond Financial
Maryland
$15.6M +$1.02M +36,999 +7%
RWMH
9
Riverpoint Wealth Management Holdings
Illinois
$12.4M +$531K +19,293 +4%
DFG
10
Demars Financial Group
Washington
$12M +$345K +12,547 +4%
PFA
11
Pure Financial Advisors
California
$11.4M -$558K -20,275 -5%
AAS
12
Avantax Advisory Services
Texas
$11.4M +$1.44M +52,504 +15%
Northwestern Mutual Wealth Management
13
Northwestern Mutual Wealth Management
Wisconsin
$11.3M +$323K +11,761 +3%
LPL Financial
14
LPL Financial
California
$9.82M +$1.27M +46,042 +15%
MCM
15
MAI Capital Management
Ohio
$9.27M +$326K +11,841 +4%
AM
16
AGF Management
Ontario, Canada
$8.2M +$4.32M +156,924 +111%
PCM
17
Payne Capital Management
New York
$6.84M +$462K +16,796 +7%
Creative Planning
18
Creative Planning
Kansas
$6.84M -$217K -7,894 -3%
DAS
19
Dynamic Advisor Solutions
Arizona
$6.44M +$295K +10,715 +5%
Osaic Holdings
20
Osaic Holdings
Arizona
$5.93M +$1.13M +41,003 +23%
HCA
21
Heck Capital Advisors
Wisconsin
$5.74M +$3.29M +119,616 +134%
RCAG
22
Rehmann Capital Advisory Group
Michigan
$5.37M +$756K +27,481 +16%
Cetera Investment Advisers
23
Cetera Investment Advisers
Illinois
$5.28M +$4.88M +177,619 +1,220%
AFTS
24
American Financial & Tax Strategies
New York
$5.12M -$161K -5,862 -3%
PWA
25
Physician Wealth Advisors
Utah
$5.06M -$102K -3,715 -2%
1
2 3 4 5

FREL Hedge Fund Activity: Q1 2025 in Review

201 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Fidelity MSCI Real Estate Index ETF (FREL) for Q1 2025, worth a combined $468M — down 28% from $647M a quarter earlier.

Sellers outnumbered buyers: 25 funds closed out of FREL and 18 opened new positions — a net loss of 7 holders — while 58 trimmed existing stakes and 90 added.

The largest buyer was Envestnet Asset Management, adding an estimated $13.6M. The largest seller was Essential Planning, cutting an estimated $215M.

  • 201 institutional investors held Fidelity MSCI Real Estate Index ETF (FREL) as of Q1 2025, down from 210 in Q4 2024.
  • Funds reported $468M of Fidelity MSCI Real Estate Index ETF stock for Q1 2025, down 28% quarter-over-quarter.
  • 18 funds opened new Fidelity MSCI Real Estate Index ETF positions in Q1 2025 and 25 closed out, a net change of -7 holders.
  • The largest Fidelity MSCI Real Estate Index ETF buyer in Q1 2025 was Envestnet Asset Management, an estimated $13.6M added.
  • The largest Fidelity MSCI Real Estate Index ETF seller in Q1 2025 was Essential Planning, an estimated $215M sold.

Based on aggregated 13F filings for Q1 2025.