Fidelity MSCI Real Estate Index ETF
FREL
216 hedge funds and large institutions have $517M invested in Fidelity MSCI Real Estate Index ETF in 2025 Q4 according to their latest regulatory filings, with 33 funds opening new positions, 99 increasing their positions, 51 reducing their positions, and 23 closing their positions.
128% more capital inflows, than outflows
Capital inflows: $66.9M | Capital outflows: $29.3M
94% more repeat investments, than reductions
Existing positions increased: 99 | Existing positions reduced: 51
43% more first-time investments, than exits
New positions opened: 33 | Existing positions closed: 23
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
2% more funds holding
Funds holding: 212 → 216 (+4)
1.16% more ownership
Funds ownership: 46.75% → 47.9% (+1.2%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AE Wealth Management
Topeka,
Kansas
|
+$10.4M |
| 2 |
Two Sigma Investments
New York
|
+$8.59M |
| 3 |
Citizens & Northern Corp
Wellsboro,
Pennsylvania
|
+$7.23M |
| 4 |
MAI Capital Management
Independence,
Ohio
|
+$5.8M |
| 5 |
Black Diamond Financial
Towson,
Maryland
|
+$2.02M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$4.56M |
| 2 |
BNP Paribas Financial Markets
Paris,
France
|
-$4.17M |
| 3 |
Envestnet Asset Management
Chicago,
Illinois
|
-$3.91M |
| 4 |
AGF Management
Toronto,
Ontario, Canada
|
-$3.37M |
| 5 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$1.96M |
FREL Hedge Fund Activity: Q4 2025 in Review
216 of the 8,296 institutional investors tracked by Wall St. Rank reported a position in Fidelity MSCI Real Estate Index ETF (FREL) for Q4 2025, worth a combined $517M — up 3.9% from $498M a quarter earlier.
Buyers outnumbered sellers: 33 funds opened new FREL positions and 23 closed out — a net gain of 10 holders — while 99 added to existing stakes and 51 trimmed.
The largest buyer was AE Wealth Management, adding an estimated $10.4M. The largest seller was PNC Financial Services Group, cutting an estimated $4.56M.
- 216 institutional investors held Fidelity MSCI Real Estate Index ETF (FREL) as of Q4 2025, up from 212 in Q3 2025.
- Funds reported $517M of Fidelity MSCI Real Estate Index ETF stock for Q4 2025, up 3.9% quarter-over-quarter.
- 33 funds opened new Fidelity MSCI Real Estate Index ETF positions in Q4 2025 and 23 closed out, a net change of +10 holders.
- The largest Fidelity MSCI Real Estate Index ETF buyer in Q4 2025 was AE Wealth Management, an estimated $10.4M added.
- The largest Fidelity MSCI Real Estate Index ETF seller in Q4 2025 was PNC Financial Services Group, an estimated $4.56M sold.
Based on aggregated 13F filings for Q4 2025.