Who Owns FIDELITY SMALL-MID MULTIFACTOR ETF (FSMD)?Hedge Fund & Institutional Holders

$44.66+0.43 (+0.97%)Financial ServicesNYSE_ARCA

Institutional Holders

50

as of Q4 2025

Total Institutional Value

$InfinityT

% of Float Held

—

QoQ Change in Holders

+12 / -2

Price History

$34.67$37.90$41.13$44.35$47.58Sep 24Jun 25Mar 26

FSMD — Biggest New Institutional Buyers This Quarter

FundActionShares AddedValue Added
FMR LLCIncreased+126K+$713.3B
COMMONWEALTH EQUITY SERVICES, LLCNew Position+3.1M+$134.0B
Goldstone Financial Group, LLCNew Position+335K+$14.8B
GEN Financial Management, INC.New Position+299K+$13.2B
LIBERTY SQUARE WEALTH PARTNERS LLCNew Position+260K+$11.5B
Prasad Wealth Partners, LLCNew Position+190K+$8.4B
STIFEL FINANCIAL CORPIncreased+186K+$8.2B
Provident Wealth Management, LLCNew Position+166K+$7.3B
Evergreen Private Wealth LLCNew Position+128K+$5.6B
FSA WEALTH PARTNERS, INC.New Position+126K+$5.6B
Fortitude Financial, LLCNew Position+95K+$4.2B
OneDigital Investment Advisors LLCIncreased+68K+$2.9B
Laurel Wealth Planning LLCNew Position+52K+$2.3B
Golden State Wealth Management, LLCNew Position+51K+$2.3B
TWO SIGMA INVESTMENTS, LPNew Position+60K+$2.0B

FSMD — Institutions Reducing or Closing Positions

FundActionShares SoldValue Sold
NORTHWESTERN MUTUAL WEALTH MANAGEMENT CODecreased-123K-$14.3B
GOLDMAN SACHS GROUP INCClosed Position-116K-$5.1B
MERCER GLOBAL ADVISORS INC /ADVDecreased-59K-$3.5B
GREAT VALLEY ADVISOR GROUP, INC.Decreased-47-$1.5B
JPMORGAN CHASE & CODecreased-4K-$1.1B
Private Advisor Group, LLCDecreased-5K-$854.6M
AMERIPRISE FINANCIAL INCDecreased-548-$740.4M
RAYMOND JAMES FINANCIAL INCDecreased-10K-$544.5M
Creative PlanningDecreased-121-$480.6M
RFG Advisory, LLCClosed Position-11K-$465.4M
Sunbelt Securities, Inc.Decreased-9K-$407.1M
Hilltop Holdings Inc.Decreased-3K-$376.8M
AQR CAPITAL MANAGEMENT LLCDecreased-1K-$290.6M
COZAD ASSET MANAGEMENT INCDecreased-853-$255.3M
PNC FINANCIAL SERVICES GROUP, INC.Decreased-26-$147.2M

Top Institutional Holders(Q4 2025)

#FundSharesValue% of PortfolioType
1FMR LLC16,180,537$714.0B36.40%Share
2COMMONWEALTH EQUITY SERVICES, LLC3,052,013$134.0B178.64%Share
3BANK OF AMERICA CORP /DE/662,457$29.0B2.11%Share
4Advocacy Wealth Management, LLC545,451$24.1B1.01%Share
5STIFEL FINANCIAL CORP522,532$23.0B20.69%Share
6BANK OF AMERICA CORP /DE/471,877$20.0B1.45%Share
7Atria Investments, Inc385,746$17.0B193.23%Share
8OSAIC HOLDINGS, INC.354,360$15.0B21.92%Share
9Goldstone Financial Group, LLC335,403$14.8B1.65%Share
10GEN Financial Management, INC.298,664$13.2B8.30%Share
11LIBERTY SQUARE WEALTH PARTNERS LLC259,983$11.5B3.27%Share
12RAYMOND JAMES FINANCIAL INC251,858$11.0B3.42%Share
13AssuredPartners Investment Advisors, LLC243,956$10.8B1.60%Share
14NOVEM GROUP202,922$9.0B1.03%Share
15Farther Finance Advisors, LLC194,891$8.6B92.14%Share
16Prasad Wealth Partners, LLC190,174$8.4B2.24%Share
17OneDigital Investment Advisors LLC184,236$8.0B78.41%Share
18Steward Partners Investment Advisory, LLC203,540$8.0B43.87%Share
19Provident Wealth Management, LLC166,198$7.3B2.17%Share
20Evergreen Private Wealth LLC127,567$5.6B2.22%Share
21FSA WEALTH PARTNERS, INC.118,825$5.2B1.88%Share
22Sterling Manor Financial, LLC106,848$4.7B2.94%Share
23Fortitude Financial, LLC94,950$4.2B3.56%Share
24Van Hulzen Asset Management, LLC79,981$3.5B0.26%Share
25Laurel Wealth Planning LLC52,195$2.3B1.28%Share
26Golden State Wealth Management, LLC50,995$2.3B0.24%Share
27ROYAL BANK OF CANADA49,960$2.0B0.33%Share
28CITADEL ADVISORS LLC66,601$2.0B0.30%Share
29MERCER GLOBAL ADVISORS INC /ADV66,414$2.0B3.05%Share
30SUSQUEHANNA INTERNATIONAL GROUP, LLP45,797$2.0B0.23%Share
31Smartleaf Asset Management LLC59,975$2.0B0.08%Share
32TWO SIGMA INVESTMENTS, LP59,800$2.0B2.82%Share
33Trademark Financial Management, LLC43,055$1.9B1.05%Share
34J.W. COLE ADVISORS, INC.42,333$1.9B0.05%Share
35Wealthcare Advisory Partners LLC38,444$1.7B33.32%Share
36New Millennium Group LLC37,536$1.7B0.72%Share
37Visionary Wealth Advisors34,396$1.5B0.07%Share
38Strategic Blueprint, LLC34,075$1.5B0.09%Share
39Kuhn & Co Investment Counsel31,584$1.4B0.93%Share
40Riverbend Wealth Management, LLC28,829$1.3B0.79%Share
41Global Financial Private Client, LLC28,175$1.2B0.44%Share
42IFP Advisors, Inc31,604$1.0B0.02%Share
43AMERIPRISE FINANCIAL INC38,998$1.0B0.23%Share
44SUSQUEHANNA INTERNATIONAL GROUP, LLP41,622$1.0B0.12%Share
45Equitable Holdings, Inc.37,490$1.0B6.84%Share
46Rockefeller Capital Management L.P.36,241$1.0B1.80%Share
47Hilltop Holdings Inc.27,912$1.0B0.06%Share
48Spire Wealth Management22,299$984.0M0.03%Share
49Roxbury Financial LLC21,975$969.0M0.87%Share
50Mascagni Wealth Management, Inc.18,697$825.0M0.61%Share

FSMD Institutional Ownership History

QuarterHoldersTotal ValueChange
Q4 2025158$1.2T+65
Q3 202593$270.7B-29
Q2 2025122$1.2T+19
Q1 2025103$467.7B+21
Q4 202482$2.7T+30
Q3 202452$20.2T+7
Q2 202445$12.2T+13
Q1 202432$9.4T—

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As of Q4 2025, 50 institutional investors hold FSMD (FIDELITY SMALL-MID MULTIFACTOR ETF). The largest holder is FMR LLC with $714.0B in shares. This quarter, 12 institutions opened new positions and 2 closed their positions.

Frequently Asked Questions

How many hedge funds own FSMD?

As of Q4 2025, 50 institutional investors report holding FSMD (FIDELITY SMALL-MID MULTIFACTOR ETF) in their 13F filings.

Who is the largest institutional holder of FSMD?

The largest institutional holder of FSMD is FMR LLC with $714.0B in shares.

Is institutional ownership of FSMD increasing or decreasing?

This quarter, 12 institutions opened new positions in FSMD and 2 closed their positions.