0001752724-24-096825.txt : 20240513 0001752724-24-096825.hdr.sgml : 20240513 20240513171322 ACCESSION NUMBER: 0001752724-24-096825 CONFORMED SUBMISSION TYPE: N-CEN PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240229 FILED AS OF DATE: 20240513 DATE AS OF CHANGE: 20240513 EFFECTIVENESS DATE: 20240513 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: N-CEN SEC ACT: 1940 Act SEC FILE NUMBER: 811-07319 FILM NUMBER: 24940285 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 S000081807 Fidelity Enhanced Small Cap ETF C000244838 Fidelity Enhanced Small Cap ETF FESM N-CEN 1 primary_doc.xml X0404 N-CEN LIVE 0000945908 XXXXXXXX 811-07319 true false false N-1A S000081807 true Fidelity Covington Trust 811-07319 0000945908 549300JFYFTF85QAQR28 245 Summer Street Boston 02210 US-MA US 1-800-FIDELITY Fidelity Service Company 245 Summer Street BOST 02210 1-800-FIDELITY Books and Records of the Fund as required to be maintained by the Investment Company Act N N N-1A 55 Y OSCAR MUNOZ N/A N ROBERT A LAWRENCE N/A Y THOMAS A KENNEDY N/A N BETTINA DOULTON N/A Y VICKI L FULLER N/A N VIJAY ADVANI N/A N THOMAS P BOSTICK N/A N PATRICIA L KAMPLING N/A N DONALD F DONAHUE N/A N MICHAEL E WILEY N/A N SUSAN TOMASKY N/A N DAVID M THOMAS N/A N JASON POGORELEC 007269504 245 SUMMER STREET BOSTON 02210-1129 XXXXXX N N N N N N Fidelity Distributors Company LLC 8-35097 000017507 N/A Y Y PricewaterhouseCoopers LLP 238 5493002GVO7EO8RNNS37 Y N N N N N N Fidelity Enhanced Small Cap ETF S000081807 2549002C2HAPT44ZHM52 Y 1 1 0 Exchange-Traded Fund N N Y N N NATIONAL FINANCIAL SERVICES, LLC 549300JRHF1MHHWUAW04 Y N Non-revenue sharing split (other than administrative fee) 17020586.16000000 88263.0000 Rule 17a-7 (17 CFR 270.17a-7) Rule 12d1-1 (17 CFR 270.12d1-1) Rule 18f-4 (17 CFR 270.18f-4) Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4)) Rule 32a-4 (17 CFR 270.32a-4) Rule 6c-11 (17 CFR 270.6c-11) Rule 17e-1 (17 CFR 270.17e-1) Y N N N Fidelity Management & Research Company LLC 801-7884 000108281 5493001Z012YSB2A0K51 2023-11-17 STATE STREET BANK AND TRUST COMPANY 85-05003 571474TGEMMWANRLN572 N N Y INTERCONTINENTAL EXCHANGE INC 5493000F4ZO33MV32P92 N REFINITIV US HOLDINGS INC 549300NF240HXJO7N016 N BLOOMBERG LP 549300B56MD0ZC402L06 N N STATE STREET BANK AND TRUST COMPANY 571474TGEMMWANRLN572 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) Y STATE STREET BANK AND TRUST COMPANY 571474TGEMMWANRLN572 N N Y Fidelity Service Company 549300LT256P1KNTYF28 Y N Y FMR LLC N/A N/A 6X064LF7Y6B4DKF2GZ26 64.72000000 JEFFERIES FINANCIAL GROUP INC N/A N/A 549300HOF34RGOJ5YL07 88.67000000 JPMORGAN CHASE and CO N/A N/A 8I5DZWZKVSZI1NUHU748 39638.91000000 Loop Capital Markets LLC N/A N/A 254900FPPM2WN90D4786 157.90000000 RBC INVESTOR SERVICES N/A N/A N/A GB 11.10000000 MORGAN STANLEY N/A N/A IGJSJL3JD5P30I6NJZ34 20615.03000000 BANK OF AMERICA CORPORATION N/A N/A 9DJT3UXIJIZJI4WXO774 24813.33000000 UBS GROUP AG N/A N/A 549300SZJ9VS8SGXAN81 CH 38.29000000 KEYBANC CAPITAL MARKETS INC. N/A N/A 2EQWV0180Z211YVAD813 29.25000000 PENSERRA SECURITIES LLC N/A N/A 549300WY8ZBI168Y6Z05 89.70000000 GOLDMAN SACHS GROUP INC (THE) N/A N/A 784F5XWPLTWKTBV3E584 8860.62000000 94361.81000000 CITIGROUP INC N/A N/A 6SHGI4ZSSLCXXQSBB395 552528.88000000 BANK OF MONTREAL QUE N/A N/A NQQ6HPCNCCU6TUTQYE16 CA 2329481.40000000 2882010.28000000 Y 531669813.00000000 Uncommitted 400000000.00000000 N Uncommitted 25000000.00000000 N Uncommitted 500000000.00000000 N Uncommitted 500000000.00000000 N Uncommitted 1500000000.00000000 N Uncommitted 300000000.00000000 N Uncommitted 150000000.00000000 N N N Fidelity Enhanced Small Cap ETF S000081807 Y 100000.00000000 62.00576654 46.54160836 37.99423346 46.54160836 4.32138939 3.63202904 95.67861061 3.63202904 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 0.00000000 N true INTERNAL CONTROL RPT 2 covington_icr1.htm Converted by EDGARwiz

Report of Independent Registered Public Accounting Firm


To the Board of Trustees of Fidelity Covington Trust and Shareholders of Fidelity Enhanced Small Cap ETF


In planning and performing our audits of the financial statements of Fidelity Enhanced Small Cap ETF (one of the funds constituting Fidelity Covington Trust, referred to hereafter as the “Fund”) as of and for the year ended February 29, 2024, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Fund’s internal control over financial reporting.


The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.


Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.


A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.



Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of February 29, 2024.


This report is intended solely for the information and use of the Board of Trustees of Fidelity Covington Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.


/s/ PricewaterhouseCoopers LLP


Boston, Massachusetts

April 16, 2024