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Fidelity Small-Mid Multifactor ETF
FSMD

187 hedge funds and large institutions have $2.28B invested in Fidelity Small-Mid Multifactor ETF in 2026 Q2 according to their latest regulatory filings, with 31 funds opening new positions, 88 increasing their positions, 49 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

182% more first-time investments, than exits

New positions opened: 31 | Existing positions closed: 11

80% more repeat investments, than reductions

Existing positions increased: 88 | Existing positions reduced: 49

20% more capital invested

Capital invested by funds: $1.9B → $2.28B (+$376M)

9% more funds holding

Funds holding: 171 → 187 (+16)

0% more funds holding in top 10

Funds holding in top 10: 8 → 8 (0)

1.55% less ownership

Funds ownership: 89.66% → 88.11% (-1.5%)

Holders
187
Holders Change
+16
Holders Change %
+9.36%
% of All Funds
2.26%
Holding in Top 10
8
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.1%
New
31
Increased
88
Reduced
49
Closed
11
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
RPGK
Retirement Planning Group (Kansas)
Kansas
+$19.8M
2
Envestnet Asset Management
Envestnet Asset Management
Illinois
+$12.9M
3
KIM
Kestra Investment Management
Texas
+$10.4M
4
AP
Appleton Partners
Massachusetts
+$8.21M
5
LPL Financial
LPL Financial
California
+$7.35M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$37.3M
2
Stifel Financial
Stifel Financial
Missouri
-$8.86M
3
IAA
Independent Advisor Alliance
North Carolina
-$5.53M
4
Two Sigma Investments
Two Sigma Investments
New York
-$4.35M
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$3.97M
Name Holding Trade Value Shares
Change 		Change in
Stake
FFA
26
Farther Finance Advisors
California
$9.77M -$535K -10,821 -6%
Cambridge Investment Research Advisors
27
Cambridge Investment Research Advisors
Iowa
$9.39M +$19K +385 +0.2%
AP
28
Appleton Partners
Massachusetts
$8.77M +$8.21M +166,023 New
BW
29
Bravera Wealth
North Dakota
$8.72M +$721K +14,583 +10%
PWM
30
Provident Wealth Management
Tennessee
$8.64M -$57K -1,153 -0.7%
ASN
31
Advisory Services Network
Georgia
$7.89M -$46.8K -946 -0.6%
FSA
32
Financial Services Advisory
Maryland
$7.07M +$249K +5,039 +4%
EPW
33
Evergreen Private Wealth
Colorado
$6.7M +$81K +1,639 +1%
LWP
34
Laurel Wealth Planning
Minnesota
$5.18M +$251K +5,085 +5%
FA
35
Faithward Advisors
Pennsylvania
$4.77M +$2.52M +50,919 +129%
Royal Bank of Canada
36
Royal Bank of Canada
Ontario, Canada
$4.69M +$1.53M +31,019 +54%
KPWS
37
Kestra Private Wealth Services
Texas
$4.54M +$190K +3,836 +5%
TFM
38
Trademark Financial Management
Minnesota
$4.53M +$1.1M +22,332 +35%
FF
39
Fortitude Financial
Washington
$4.2M -$413K -8,357 -10%
Thrivent Financial for Lutherans
40
Thrivent Financial for Lutherans
Minnesota
$3.88M +$3.63M +73,474 New
EA
41
Emerald Advisors
Washington
$3.41M +$386K +7,799 +14%
JWCA
42
J.W. Cole Advisors
Florida
$3.28M +$3.07M +62,141 New
P
43
&Partners
Tennessee
$3.24M +$524K +10,588 +21%
Mercer Global Advisors
44
Mercer Global Advisors
Colorado
$3.18M -$252K -5,100 -8%
NG
45
Novem Group
New York
$3.05M -$25.3K -512 -0.9%
AWM
46
AE Wealth Management
Kansas
$2.89M +$104K +2,097 +4%
Two Sigma Investments
47
Two Sigma Investments
New York
$2.63M -$4.35M -88,000 -64%
VHAM
48
Van Hulzen Asset Management
California
$2.47M -$1.68M -33,961 -42%
SF
49
Schuylkill Financial
Pennsylvania
$2.34M +$2.19M +44,336 New
WAP
50
Wealthcare Advisory Partners
Pennsylvania
$2.09M +$47.2K +955 +2%
1
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3 4 5

FSMD Hedge Fund Activity: Q2 2026 in Review

187 of the 8,279 institutional investors tracked by Wall St. Rank reported a position in Fidelity Small-Mid Multifactor ETF (FSMD) for Q2 2026, worth a combined $2.28B — up 20% from $1.9B a quarter earlier.

Buyers outnumbered sellers: 31 funds opened new FSMD positions and 11 closed out — a net gain of 20 holders — while 88 added to existing stakes and 49 trimmed.

The largest buyer was Retirement Planning Group (Kansas), adding an estimated $19.8M. The largest seller was Fidelity Investments, cutting an estimated $37.3M.

  • 187 institutional investors held Fidelity Small-Mid Multifactor ETF (FSMD) as of Q2 2026, up from 171 in Q1 2026.
  • Funds reported $2.28B of Fidelity Small-Mid Multifactor ETF stock for Q2 2026, up 20% quarter-over-quarter.
  • 31 funds opened new Fidelity Small-Mid Multifactor ETF positions in Q2 2026 and 11 closed out, a net change of +20 holders.
  • The largest Fidelity Small-Mid Multifactor ETF buyer in Q2 2026 was Retirement Planning Group (Kansas), an estimated $19.8M added.
  • The largest Fidelity Small-Mid Multifactor ETF seller in Q2 2026 was Fidelity Investments, an estimated $37.3M sold.

Based on aggregated 13F filings for Q2 2026.