0001752724-24-116384.txt : 20240523 0001752724-24-116384.hdr.sgml : 20240523 20240523164621 ACCESSION NUMBER: 0001752724-24-116384 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240331 FILED AS OF DATE: 20240523 DATE AS OF CHANGE: 20240523 PERIOD START: 20240630 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: 24979074 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 S000075902 Fidelity Crypto Industry and Digital Payments ETF C000235243 Fidelity Crypto Industry and Digital Payments ETF FDIG NPORT-P 1 primary_doc.xml NPORT-P false 0000945908 XXXXXXXX S000075902 C000235243 Fidelity Covington Trust 811-07319 0000945908 549300JFYFTF85QAQR28 245 Summer Street Boston 02210 1-800-FIDELITY Fidelity Crypto Industry and Digital Payments ETF S000075902 5493000W2GFOGPRX0Z53 2024-06-30 2024-03-31 N 102141130.88 31465.10 102109665.78 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 19387.00000000 N CORE SCIENTIFIC INC N/A CORE SCIENTIFIC INC 21874A106 572078.00000000 NS USD 2025156.12000000 1.983314806223 Long EC CORP US N 1 N N N BIT DIGITAL INC N/A BIT DIGITAL INC N/A 933741.00000000 NS USD 2679836.67000000 2.624469142592 Long EC CORP KY N 1 N N N GALAXIA MONEYTREE CO LTD N/A GALAXIA MONEYTREE CO LTD N/A 186684.00000000 NS 1076076.39000000 1.053843807811 Long EC CORP KR N 1 N N N STONECO LTD 549300O1A9LEF0XZCR35 STONECO LTD CL A N/A 96602.00000000 NS USD 1604559.22000000 1.571407768053 Long EC CORP KY N 1 N N N VISA INC 549300JZ4OKEHW3DPJ59 VISA INC CL A 92826C839 5908.00000000 NS USD 1648804.64000000 1.614739042974 Long EC CORP US N 1 N N N HIVE DIGITAL TECHNOLOGIES LTD 5493004QCZ1QBI9FS784 HIVE DIGITAL TECHNOLOGIES LTD 433921103 539012.00000000 NS USD 1816470.44000000 1.778940736045 Long EC CORP CA N 1 N N N CIELO SA 635400V276LMQ5UZ6C26 CIELO SA N/A 1452700.00000000 NS 1567176.43000000 1.534797335813 Long EC CORP BR N 1 N N N EDENRED 9695006LOD5B2D7Y0N70 EDENRED N/A 29538.00000000 NS 1577825.43000000 1.545226319121 Long EC CORP FR N 1 N N N MARATHON DIGITAL HOLDINGS INC 549300M8ISKPTX2W7F94 MARATHON DIGITAL HOLDINGS INC 565788106 423256.00000000 NS USD 9557120.48000000 9.359662875198 Long EC CORP US N 1 N N N WEX INC T9M5IGROL1TL1G5OV478 WEX INC 96208T104 7575.00000000 NS USD 1799289.75000000 1.762115012575 Long EC CORP US N 1 N N N GMO PAYMENT GATEWAY INC 353800Q6U21E2PM83F86 GMO PAYMENT GATEWAY INC N/A 23900.00000000 NS 1537325.32000000 1.505562973158 Long EC CORP JP N 1 N N N NEXI SPA 5493000P70CQRQG8SN85 NEXI SPA N/A 216708.00000000 NS 1374778.21000000 1.346374213937 Long EC CORP IT N 1 N N N CANAAN INC 254900OEOGK9ALNMUN24 CANAAN INC ADR 134748102 1612142.00000000 NS USD 2450455.84000000 2.399827500444 Long EC CORP KY N 1 N N N HUT 8 CORP 5493006XP230HIL5DH67 HUT 8 CORP 44812J104 374314.00000000 NS USD 4132426.56000000 4.047047386193 Long EC CORP US N 1 N N N CORPAY INC 549300DG6RR0NQSFLN74 CORPAY INC 219948106 5958.00000000 NS USD 1838281.32000000 1.800300986158 Long EC CORP US N 1 N N N DLOCAL LTD/URUGUAY N/A DLOCAL LTD/URUGUAY N/A 75797.00000000 NS USD 1114215.90000000 1.091195325622 Long EC CORP KY N 1 N N N MARQETA INC 254900UZARK0FMZGZE18 MARQETA INC CL A 57142B104 240877.00000000 NS USD 1435626.92000000 1.405965741865 Long EC CORP US N 1 N N N COINBASE GLOBAL INC 5493004G3J2SC154DU06 COINBASE GLOBAL INC 19260Q107 62056.00000000 NS USD 16452286.72000000 16.11236957277 Long EC CORP US N 1 N N N CHICAGO MERCANTILE EXCH INC SNZ2OJLFK8MNNCLQOF39 NASD100 MICRO FUT EMINJUN24 HWBM4 N/A 3.00000000 NC USD -171.09000000 -0.00016755514 N/A DE CORP US N 1 CHICAGO MERCANTILE EXCH INC SNZ2OJLFK8MNNCLQOF39 Long NASDAQ 100 INDEX (NDX) EI09NDX 2024-06-21 111021.09000000 USD -171.09000000 N N N NUVEI CORP 894500ET22NO0AUZRG34 NUVEI CORP 67079A102 42655.00000000 NS USD 1348751.10000000 1.320884844443 Long EC CORP CA N 1 N N N PAYONEER GLOBAL INC N/A PAYONEER GLOBAL INC 70451X104 234771.00000000 NS USD 1140987.06000000 1.117413372460 Long EC CORP US N 1 N N N Fidelity Revere Street Trust 549300BDV45LJNXBZC55 Fidelity Cash Central Fund 31635A105 68940.27700000 NS USD 68954.07000000 0.067529424832 Long STIV RF US N 1 N N N WORLDLINE SA 549300CJMQNCA0U4TS33 WORLDLINE SA N/A 114452.00000000 NS 1419021.67000000 1.389703569353 Long EC CORP FR N 1 N N N BITDEER TECHNOLOGIES GROUP N/A BITDEER TECHNOLOGIES GROUP N/A 283273.00000000 NS USD 1988576.46000000 1.947490910688 Long EC CORP KY N 1 N N N NETWORK INTERNATIONAL HOLDINGS PLC 213800XVRNKWENNLKK60 NETWORK INTERNATIONAL HOLDINGS PLC N/A 231575.00000000 NS 1150255.94000000 1.126490750129 Long EC CORP GB N 1 N N N FLYWIRE CORP 54930055DSV7NNY4VY66 FLYWIRE CORP 302492103 58556.00000000 NS USD 1452774.36000000 1.422758902306 Long EC CORP US N 1 N N N CLEANSPARK INC 254900VO7KBRJQDGY810 CLEANSPARK INC 18452B209 413514.00000000 NS USD 8770631.94000000 8.589423805280 Long EC CORP US N 1 N N N TERAWULF INC N/A TERAWULF INC 88080T104 1518163.00000000 NS USD 3992768.69000000 3.910274957321 Long EC CORP US N 1 N N N CIPHER MINING INC N/A CIPHER MINING INC 17253J106 819744.00000000 NS USD 4221681.60000000 4.134458347063 Long EC CORP US N 1 N N N RIOT PLATFORMS INC 5299005LKZAJQDQZDF73 RIOT PLATFORMS INC 767292105 480847.00000000 NS USD 5885567.28000000 5.763966843923 Long EC CORP US N 1 N N N GLOBAL PAYMENTS INC 549300NOMHGVQBX6S778 GLOBAL PAYMENTS INC 37940X102 12773.00000000 NS USD 1707239.18000000 1.671966279547 Long EC CORP US N 1 N N N GALAXY DIGITAL HOLDINGS LTD 254900ULFH90UKBGDV65 GALAXY DIGITAL HOLDINGS LTD N/A 181883.00000000 NS 1944834.30000000 1.904652498021 Long EC CORP KY N 1 N N N SHOPIFY INC 549300HGQ43STJLLP808 SHOPIFY INC CL A 82509L107 21768.00000000 NS USD 1679836.56000000 1.645129819168 Long EC CORP CA N 1 N N N MASTERCARD INC AR5L2ODV9HN37376R084 MASTERCARD INC CL A 57636Q104 3489.00000000 NS USD 1680197.73000000 1.645483527112 Long EC CORP US N 1 N N N SHIFT4 PAYMENTS INC N/A SHIFT4 PAYMENTS INC 82452J109 20219.00000000 NS USD 1335869.33000000 1.308269221914 Long EC CORP US N 1 N N N BITFARMS LTD/CANADA 254900YWMA64Y1RPNJ12 BITFARMS LTD/CANADA 09173B107 1289185.00000000 NS USD 2874882.55000000 2.815485221736 Long EC CORP CA N 1 N N N NORTHERN DATA AG 391200LB6JA3HAQWTS32 NORTHERN DATA AG N/A 37548.00000000 NS 1088816.90000000 1.066321088882 Long EC CORP DE N 1 N N N IRIS ENERGY LTD N/A IRIS ENERGY LTD N/A 484002.00000000 NS USD 2613610.80000000 2.559611551007 Long EC CORP AU N 1 N N N 2024-04-30 Stacie M. Smith Stacie M. Smith Stacie M. Smith President and Treasurer XXXX NPORT-EX 2 QTLY_6565_20240331.htm 010 - Quarterly Front Cover
Quarterly Holdings Report
for
Fidelity® Crypto Industry and Digital Payments ETF
March 31, 2024
CID-NPRT3-0524
1.9904975.101
Common Stocks - 99.9%
 
  
Shares
Value ($)
 
FINANCIALS - 45.3%
 
  
  
Capital Markets - 18.0%
  
  
  
Coinbase Global, Inc. (a)
  
62,056
16,452,288
Galaxy Digital Holdings Ltd. (a)
  
181,883
1,944,834
 
  
  
18,397,122
Financial Services - 27.3%
  
  
  
Cielo SA
 
1,452,700
1,567,176
Corpay, Inc. (a)
  
5,958
1,838,281
Dlocal Ltd. (a)
  
75,797
1,114,216
Edenred SA
 
29,538
1,577,825
Flywire Corp. (a)
  
58,556
1,452,774
Galaxia Moneytree Co. Ltd.
 
186,684
1,076,076
Global Payments, Inc.
 
12,773
1,707,239
GMO Payment Gateway, Inc.
 
23,900
1,537,325
Marqeta, Inc. Class A (a)
  
240,877
1,435,627
MasterCard, Inc. Class A
 
3,489
1,680,198
Network International Holdings PLC (a)(b)
  
231,575
1,150,256
Nexi SpA (a)(b)
  
216,708
1,374,778
Nuvei Corp. (b)
  
42,655
1,348,751
Payoneer Global, Inc. (a)
  
234,771
1,140,987
Shift4 Payments, Inc. (a)
  
20,219
1,335,869
StoneCo Ltd. Class A (a)
  
96,602
1,604,559
Visa, Inc. Class A
 
5,908
1,648,805
WEX, Inc. (a)
  
7,575
1,799,290
Worldline SA (a)(b)
  
114,452
1,419,022
 
  
  
27,809,054
TOTAL FINANCIALS
  
  
46,206,176
INFORMATION TECHNOLOGY - 54.6%
 
  
  
IT Services - 3.6%
  
  
  
Core Scientific, Inc.
 
572,078
2,025,156
Shopify, Inc. Class A (a)
  
21,768
1,679,837
 
  
  
3,704,993
Software - 48.6%
  
  
  
Bit Digital, Inc. (a)
  
933,741
2,679,837
Bitdeer Technologies Group
 
283,273
1,988,576
Bitfarms Ltd. (a)
  
1,289,185
2,874,883
Cipher Mining, Inc. (a)
  
819,744
4,221,682
Cleanspark, Inc. (a)
  
413,514
8,770,632
HIVE Digital Technologies Ltd. (a)
  
539,012
1,816,470
Hut 8 Mining Corp. (a)
  
374,314
4,132,427
Iris Energy Ltd. (a)
  
484,002
2,613,611
Marathon Digital Holdings, Inc. (a)
  
423,256
9,557,120
Northern Data AG (a)
  
37,548
1,088,817
Riot Platforms, Inc. (a)
  
480,847
5,885,567
TeraWulf, Inc. (a)
  
1,518,163
3,992,769
 
  
  
49,622,391
Technology Hardware, Storage & Peripherals - 2.4%
  
  
  
Canaan, Inc. ADR (a)
  
1,612,142
2,450,456
TOTAL INFORMATION TECHNOLOGY
  
  
55,777,840
 
TOTAL COMMON STOCKS
 (Cost $69,614,240)
  
  
  
101,984,016
 
  
  
  
Money Market Funds - 0.0%
 
  
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (c)
 
 (Cost $68,954)
 
  
68,940
68,954
 
  
  
  
 
TOTAL INVESTMENT IN SECURITIES - 99.9%
 (Cost $69,683,194)
 
  
 
102,052,970
NET OTHER ASSETS (LIABILITIES) - 0.1% (d)
56,738
NET ASSETS - 100.0%
102,109,708
 
  
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
  
  
  
  
  
 
  
  
  
  
  
Equity Index Contracts
  
  
  
  
  
CME Micro E-mini NASDAQ 100 Index Contracts (United States)
3
Jun 2024
110,850
(171)
(171)
 
  
  
  
  
  
The notional amount of futures purchased as a percentage of Net Assets is 0.1%
 
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 $5,292,807 or 5.2% 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.
 
(d)
Includes $21,240 of cash collateral to cover margin requirements for futures contracts.
 
 
 
 
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%
-
930,771
861,817
1,755
-
-
68,954
0.0%
Total
-
930,771
861,817
1,755
-
-
68,954
  
 
  
  
  
  
  
  
  
  
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
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.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 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.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
 
The Fund used futures contracts to manage its exposure to the stock market.
 
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual 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 and annual report.
 
Third party trademarks and service marks are the property of their respective owners. All other trademarks and service marks are the property of FMR LLC or an affiliate.