0001752724-24-089392.txt : 20240424 0001752724-24-089392.hdr.sgml : 20240424 20240424143351 ACCESSION NUMBER: 0001752724-24-089392 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240229 FILED AS OF DATE: 20240424 DATE AS OF CHANGE: 20240424 PERIOD START: 20240531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FIDELITY COVINGTON TRUST CENTRAL INDEX KEY: 0000945908 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-07319 FILM NUMBER: 24869880 BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 617-563-7000 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 0000945908 S000079689 Fidelity Disruptive Technology ETF C000240929 Fidelity Disruptive Technology ETF FDTX NPORT-P 1 primary_doc.xml NPORT-P false 0000945908 XXXXXXXX S000079689 C000240929 Fidelity Covington Trust 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549300S4KLFTLO7GSQ80 NVIDIA CORP 67066G104 10629.00000000 NS USD 8408814.48000000 5.843966989319 Long EC CORP US N 1 N N N UNIVERSAL MUSIC GROUP NV 724500GJBUL3D9TW9Y18 UNIVERSAL MUSIC GROUP NV N/A 45126.00000000 NS 1359280.68000000 0.944674358321 Long EC CORP NL N 1 N N N WORKDAY INC 549300J0DYC0N31V7G13 WORKDAY INC CL A 98138H101 11105.00000000 NS USD 3272199.30000000 2.274116611462 Long EC CORP US N 1 N N N ASML HOLDING NV 724500Y6DUVHQD6OXN27 ASML HOLDING NV N/A 6558.00000000 NS 6170005.13000000 4.288036843887 Long EC CORP NL N 1 N N N AIRBNB INC 549300HMUDNO0RY56D37 AIRBNB INC CLASS A 009066101 6375.00000000 NS USD 1003871.25000000 0.697671527952 Long EC CORP US N 1 N N N UBER TECHNOLOGIES INC 549300B2FTG34FILDR98 UBER TECHNOLOGIES INC 90353T100 24935.00000000 NS USD 1982332.50000000 1.377683586599 Long EC CORP US N 1 N N N SEA LTD 529900OM6JLLW44YKI15 SEA LTD ADR 81141R100 50528.00000000 NS USD 2451618.56000000 1.703828520550 Long EC CORP KY N 1 N N N 2024-03-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_6999_20240229.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Disruptive Technology ETF
February 29, 2024
DRT-NPRT3-0424
1.9907236.100
Common Stocks - 99.0%
 
  
Shares
Value ($)
 
COMMUNICATION SERVICES - 17.1%
 
  
  
Entertainment - 7.5%
  
  
  
Netflix, Inc. (a)
  
9,190
5,540,835
Sea Ltd. ADR (a)
  
50,528
2,451,619
Spotify Technology SA (a)
  
5,521
1,415,640
Universal Music Group NV
 
45,126
1,359,281
 
  
  
10,767,375
Interactive Media & Services - 8.8%
  
  
  
Alphabet, Inc. Class C (a)
  
33,903
4,738,961
Meta Platforms, Inc. Class A
 
12,814
6,280,526
Snap, Inc. Class A (a)
  
147,052
1,620,513
 
  
  
12,640,000
Wireless Telecommunication Services - 0.8%
  
  
  
T-Mobile U.S., Inc.
 
7,417
1,211,196
TOTAL COMMUNICATION SERVICES
  
  
24,618,571
CONSUMER DISCRETIONARY - 6.9%
 
  
  
Broadline Retail - 5.7%
  
  
  
Amazon.com, Inc. (a)
  
31,312
5,534,709
Global-e Online Ltd. (a)
  
23,151
784,124
PDD Holdings, Inc. ADR (a)
  
14,924
1,858,635
 
  
  
8,177,468
Hotels, Restaurants & Leisure - 0.7%
  
  
  
Airbnb, Inc. Class A (a)
  
6,375
1,003,871
Specialty Retail - 0.5%
  
  
  
ZOZO, Inc.
 
35,964
814,180
TOTAL CONSUMER DISCRETIONARY
  
  
9,995,519
FINANCIALS - 2.0%
 
  
  
Financial Services - 2.0%
  
  
  
Adyen BV (a)(b)
  
832
1,312,869
Block, Inc. Class A (a)
  
19,510
1,550,460
 
  
  
2,863,329
INDUSTRIALS - 1.4%
 
  
  
Ground Transportation - 1.4%
  
  
  
Uber Technologies, Inc. (a)
  
24,935
1,982,333
INFORMATION TECHNOLOGY - 71.6%
 
  
  
IT Services - 8.5%
  
  
  
Accenture PLC Class A
 
5,062
1,897,136
MongoDB, Inc. Class A (a)
  
13,338
5,969,822
Shopify, Inc. Class A (a)
  
26,095
1,992,875
Snowflake, Inc. (a)
  
12,999
2,447,452
 
  
  
12,307,285
Semiconductors & Semiconductor Equipment - 28.0%
  
  
  
Advantest Corp.
 
72,691
3,350,419
ASML Holding NV (Netherlands)
 
6,558
6,170,005
BE Semiconductor Industries NV
 
13,575
2,452,401
Infineon Technologies AG
 
47,150
1,686,512
Marvell Technology, Inc.
 
69,038
4,947,263
Micron Technology, Inc.
 
19,666
1,781,936
NVIDIA Corp.
 
10,629
8,408,813
ON Semiconductor Corp. (a)
  
39,385
3,108,264
SolarEdge Technologies, Inc. (a)
  
20,755
1,394,113
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR
 
53,997
6,947,794
 
  
  
40,247,520
Software - 33.2%
  
  
  
Adobe, Inc. (a)
  
10,989
6,156,917
Atlassian Corp. PLC (a)
  
8,214
1,703,748
Confluent, Inc. (a)
  
107,617
3,644,988
Crowdstrike Holdings, Inc. (a)
  
5,721
1,854,462
Datadog, Inc. Class A (a)
  
19,857
2,610,401
HashiCorp, Inc. (a)
  
54,062
1,409,396
HubSpot, Inc. (a)
  
4,142
2,563,111
Intuit, Inc.
 
4,960
3,287,934
Microsoft Corp.
 
17,170
7,102,199
Palo Alto Networks, Inc. (a)
  
9,501
2,950,536
Salesforce, Inc.
 
25,825
7,975,277
Synopsys, Inc. (a)
  
5,568
3,194,529
Workday, Inc. Class A (a)
  
11,105
3,272,199
 
  
  
47,725,697
Technology Hardware, Storage & Peripherals - 1.9%
  
  
  
Apple, Inc.
 
9,086
1,642,295
Samsung Electronics Co. Ltd. (a)
  
20,450
1,124,018
 
  
  
2,766,313
TOTAL INFORMATION TECHNOLOGY
  
  
103,046,815
 
TOTAL COMMON STOCKS
 (Cost $111,205,455)
  
  
  
142,506,567
 
  
  
  
Money Market Funds - 1.0%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (c)
 
 (Cost $1,389,860)
 
  
1,389,582
1,389,860
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $112,595,315)
 
  
 
143,896,427
NET OTHER ASSETS (LIABILITIES) - 0.0%  
(7,413)
NET ASSETS - 100.0%
143,889,014
 
  
Legend
 
(a)
Non-income producing
 
(b)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $1,312,869 or 0.9% of net assets.
 
(c)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
478,846
13,751,437
12,840,423
28,040
-
-
1,389,860
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
3,121,750
12,306,015
15,427,765
1,331
-
-
-
0.0%
Total
3,600,596
26,057,452
28,268,188
29,371
-
-
1,389,860
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus.
 
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