Fidelity MSCI Real Estate Index ETF
FREL
214 hedge funds and large institutions have $516M invested in Fidelity MSCI Real Estate Index ETF in 2025 Q4 according to their latest regulatory filings, with 32 funds opening new positions, 98 increasing their positions, 51 reducing their positions, and 23 closing their positions.
92% more repeat investments, than reductions
Existing positions increased: 98 | Existing positions reduced: 51
39% more first-time investments, than exits
New positions opened: 32 | Existing positions closed: 23
20% more funds holding in top 10
Funds holding in top 10: 5 → 6 (+1)
1% more funds holding
Funds holding: 211 → 214 (+3)
1.16% more ownership
Funds ownership: 46.7% → 47.86% (+1.2%)
4% more capital invested
Capital invested by funds: $497M → $516M (+$19.2M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWM
AE Wealth Management
Topeka,
Kansas
|
+$10.4M |
| 2 |
Two Sigma Investments
New York
|
+$8.59M |
| 3 |
CNC
Citizens & Northern Corp
Wellsboro,
Pennsylvania
|
+$7.23M |
| 4 |
MCM
MAI Capital Management
Independence,
Ohio
|
+$5.8M |
| 5 |
BDF
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 |
AM
AGF Management
Toronto,
Ontario, Canada
|
-$3.37M |
| 5 |
Kovitz Investment Group Partners
Chicago,
Illinois
|
-$1.96M |
FREL Hedge Fund Activity: Q4 2025 in Review
214 of the 8,270 institutional investors tracked by Wall St. Rank reported a position in Fidelity MSCI Real Estate Index ETF (FREL) for Q4 2025, worth a combined $516M — up 3.9% from $497M a quarter earlier.
Buyers outnumbered sellers: 32 funds opened new FREL positions and 23 closed out — a net gain of 9 holders — while 98 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.
- 214 institutional investors held Fidelity MSCI Real Estate Index ETF (FREL) as of Q4 2025, up from 211 in Q3 2025.
- Funds reported $516M of Fidelity MSCI Real Estate Index ETF stock for Q4 2025, up 3.9% quarter-over-quarter.
- 32 funds opened new Fidelity MSCI Real Estate Index ETF positions in Q4 2025 and 23 closed out, a net change of +9 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.