Fidelity MSCI Financials ETF (FNCL) Discloses Jan 31 Portfolio

TL;DR

**FNCL just dropped its Jan 31 portfolio, showing what financial stocks it's holding.**

AI Summary

The Fidelity Covington Trust, specifically its Fidelity MSCI Financials Index ETF (FNCL), filed its monthly portfolio report (NPORT-P) on March 24, 2026, for the period ending January 31, 2026. This filing provides a detailed snapshot of the ETF's holdings, offering transparency into the financial sector companies it invests in. For investors, this matters because it reveals the specific stocks driving the ETF's performance and allows them to assess if the fund's composition aligns with their investment goals and risk tolerance within the financial sector.

Why It Matters

This filing gives investors a look under the hood of the Fidelity MSCI Financials Index ETF (FNCL), showing exactly which financial companies it held as of January 31, 2026. This transparency helps investors understand the fund's exposure to different parts of the financial sector.

Risk Assessment

Risk Level: medium — The risk level is medium because while an ETF provides diversification, its focus on a single sector (financials) means it's still susceptible to sector-specific downturns.

Analyst Insight

A smart investor would review the detailed holdings within the full NPORT-P document to understand the specific financial companies FNCL is invested in and compare it against their own sector outlook and other financial sector ETFs.

Key Players & Entities

• Fidelity Covington Trust (company) — the filer of the NPORT-P report
• Fidelity MSCI Financials Index ETF (company) — the specific fund whose portfolio is being reported
• FNCL (company) — the ticker symbol for the Fidelity MSCI Financials Index ETF
• January 31, 2026 (date) — the period end date for the portfolio report
• March 24, 2026 (date) — the filing date of the NPORT-P report

FAQ

Filing Documents

• primary_doc.html (NPORT-P)
• primary_doc.xml (NPORT-P) — 345KB
• 0001410368-26-029061.txt ( ) — 346KB
• S000042574
• C000131666 (FNCL)

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM NPORT-P Monthly Portfolio Investments Report NPORT-P: Filer Information ********   Is this a LIVE or TEST Filing? LIVE TEST Would you like a Return Copy? Is this an electronic copy of an official filing submitted in paper format? Submission Contact Information Name   Phone   E-Mail Address   Notification Information Notify via Filing Website only? Series ID S000042574   Class (Contract) ID C000131666   NPORT-P: Part A: General Information Item A.1. Information about the Registrant. a. Name of Registrant FIDELITY COVINGTON TRUST   b. Investment Company Act file number for Registrant: (e.g., 811-______) 811-07319   c. CIK number of Registrant d. LEI of Registrant 549300JFYFTF85QAQR28   e. Address and telephone number of Registrant. Street Address 1 245 SUMMER STREET   Street Address 2   MASSACHUSETTS   Foreign country, if applicable UNITED STATES OF AMERICA   02210   Telephone number 1-800-FIDELITY   Item A.2. Information about the Series. a. Name of Series. Fidelity MSCI Financials Index ETF   b. EDGAR series identifier (if any). S000042574   c. LEI of Series. 549300SRWT16HXDPN049   Item A.3. Reporting period. a. Date of fiscal year-end. 2026-07-31   b. Date as of which information is reported. 2026-01-31   Item A.4. Final filing Does the Fund anticipate that this will be its final filing on Form N PORT? Yes No NPORT-P: Part B: Information About the Fund Report the following information for the Fund and its consolidated subsidiaries. Item B.1. Assets and liabilities. Report amounts in U.S. dollars. a. Total assets, including assets attributable to miscellaneous securities reported in Part D. 2409399535.43   b. Total liabilities. 323885.14   c. Net assets. 2409075650.29   Item B.2. Certain assets and liabilities. Report amounts in U.S. dollars. a. Assets attributable to miscellaneous securities reported in Part D. 0.00000000   b. Assets invested in a Controlled Foreign Corporation for the purpose of investing in certain types of instruments such as, but not limited to, commodities. 0.00000000   c. Borrowings attributable to amounts payable for notes payable, bonds, and similar debt, as reported pursuant to rule 6-04(13)(a) of Regulation S-X [17 CFR 210.6-04(13)(a)]. Amounts payable within one year. Banks or other financial institutions for borrowings. 0.00000000   Controlled companies. 0.00000000   Other affiliates. 0.00000000   Others. 0.00000000   Amounts payable after one year. Banks or other financial institutions for borrowings. 0.00000000   Controlled companies. 0.00000000   Other affiliates. 0.00000000   Others. 0.00000000   d. Payables for investments purchased either (i) on a delayed delivery, when-issued, or other firm commitment basis, or (ii) on a standby commitment basis. (i) On a delayed delivery, when-issued, or other firm commitment basis: 0.00000000   (ii) On a standby commitment basis: 0.00000000   e. Liquidation preference of outstanding preferred stock issued by the Fund. 0.00000000   f. Cash and cash equivalents not reported in Parts C and D. 579863.27000000   Item B.3. Portfolio level risk metrics. If the average value of the Fund's debt securities positions for the previous three months, in the aggregate, exceeds 25% or more of the Fund's net asset value, provide: c. Credit Spread Risk (SDV01, CR01 or CS01). Provide the change in value of the portfolio resulting from a 1 basis point change in credit spreads where the shift is applied to the option adjusted spread, aggregated by investment grade and non-investment grade exposures, for each of the following maturities: 3 month, 1 year, 5 years, 10 years, and 30 years. Investment grade. Maturity period. 3 month.   1 year.   5 years.   10 years.   30 years.   Non-Investment grade. Maturity period. 3 month.   1 year.   5 years.   10 years.   30 years.   For purposes of Item B.3., calculate value as the sum of the absolute values of: (i) the value of each debt security, (ii) the notional value of each swap, including, but not limited to, total return swaps, interest rate swaps, and credit default swaps, for which the underlying reference asset or assets are debt securities or an interest rate; (iii) the notional value of each futures contract for which the underlying reference asset or assets are debt securities or an interest rate; and (iv) the delta-adjusted notional value of any option for which the underlying reference asset is an asset described in clause (i),(ii), or (iii). Report zero for maturities to which the Fund has no exposure. For exposures that fall between any of the listed maturities in (a) and (b), use linear interpolation to approximate exposure to each maturity listed above. For exposures outside of the range of maturities listed above, include those exposures in the nearest maturity. Item B.4. Sec

View Full Filing

View this NPORT-P filing on SEC EDGAR