NPORT-P
    false
    
      
      
        
          0000945908
          XXXXXXXX
        
      
      
      
      
        S000073600
        C000230605
      
      
      
    
  
  
    
      FIDELITY COVINGTON TRUST
      811-07319
      0000945908
      549300JFYFTF85QAQR28
      245 SUMMER STREET
      BOSTON
      
      02210
      1-800-FIDELITY
      Fidelity Electric Vehicles and Future Transportation ETF
      S000073600
      54930051YVMUH2IVQU69
      2022-06-30
      2022-03-31
      N
    
    
      44695541.76
      21899.49
      44673642.27
      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
      0.00000000
      N
      
        
          
        
        
        
        
      
      
      
      
      
    
    
      
        Albemarle Corp
        HDBLS2Q6GV1LSKQPBS54
        Albemarle Corp
        012653101
        
          
        
        5554.00000000
        NS
        USD
        1228267.10000000
        2.749422338515
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CEVA Inc
        529900G9T7CVU2J2VU73
        CEVA Inc
        157210105
        
          
        
        7431.00000000
        NS
        USD
        302070.15000000
        0.676170857469
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Uber Technologies Inc
        549300B2FTG34FILDR98
        Uber Technologies Inc
        90353T100
        
          
        
        54335.00000000
        NS
        USD
        1938672.80000000
        4.339634517111
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lear Corp
        549300UPNBTXA1SYTQ33
        Lear Corp
        521865204
        
          
        
        6323.00000000
        NS
        USD
        901596.57000000
        2.018184603240
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Faurecia SE
        969500F0VMZLK2IULV85
        Faurecia SE
        000000000
        
          
        
        24135.00000000
        NS
        
        635092.71000000
        1.421627334887
        Long
        EC
        CORP
        FR
        N
        
        1
        
          N
          N
          N
        
      
      
        NXP Semiconductors NV
        724500M9BY5293JDF951
        NXP Semiconductors NV
        000000000
        
          
        
        6010.00000000
        NS
        USD
        1112330.80000000
        2.489903986957
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        ChargePoint Holdings Inc
        254900DVN9TAC2GIPG25
        ChargePoint Holdings Inc
        15961R105
        
          
        
        41972.00000000
        NS
        USD
        834403.36000000
        1.867775532957
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ams-OSRAM AG
        5299001JPPT2QFTV5D76
        ams-OSRAM AG
        000000000
        
          
        
        33274.00000000
        NS
        
        515787.68000000
        1.154568228134
        Long
        EC
        CORP
        AT
        N
        
        1
        
          N
          N
          N
        
      
      
        NVIDIA Corp
        549300S4KLFTLO7GSQ80
        NVIDIA Corp
        67066G104
        
          
        
        7973.00000000
        NS
        USD
        2175512.78000000
        4.869790483729
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Allkem Ltd
        2138006SR6M416DVKM86
        Allkem Ltd
        000000000
        
          
        
        101289.00000000
        NS
        
        869399.53000000
        1.946112933316
        Long
        EC
        CORP
        AU
        N
        
        1
        
          N
          N
          N
        
      
      
        Bloom Energy Corp
        549300XB5J9BFW5JXV97
        Bloom Energy Corp
        093712107
        
          
        
        31192.00000000
        NS
        USD
        753286.80000000
        1.686199650897
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SK IE Technology Co Ltd
        988400ZA9LM3JZBI5088
        SK IE Technology Co Ltd
        000000000
        
          
        
        5755.00000000
        NS
        
        600641.48000000
        1.344509758953
        Long
        EC
        CORP
        KR
        Y
        
        1
        
          N
          N
          N
        
      
      
        Garmin Ltd
        2549001E0HIPIJQ0W046
        Garmin Ltd
        000000000
        
          
        
        10539.00000000
        NS
        USD
        1250030.79000000
        2.798139409464
        Long
        EC
        CORP
        CH
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Lyft Inc
        549300H7I5VN334XVZ52
        Lyft Inc
        55087P104
        
          
        
        27550.00000000
        NS
        USD
        1057920.00000000
        2.368107784017
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Li Auto Inc
        2549003R73Q70J5H4I65
        Li Auto Inc
        50202M102
        
          
        
        32308.00000000
        NS
        USD
        833869.48000000
        1.866580465860
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Veoneer Inc
        54930082R4LTC7PERT23
        Veoneer Inc
        92336X109
        
          
        
        19709.00000000
        NS
        USD
        728247.55000000
        1.630150381736
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Plug Power Inc
        549300JPDKRSJ8JSM954
        Plug Power Inc
        72919P202
        
          
        
        44678.00000000
        NS
        USD
        1278237.58000000
        2.861279078778
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ganfeng Lithium Co Ltd
        3003006BE6UOHWEOOR42
        Ganfeng Lithium Co Ltd
        000000000
        
          
        
        47400.00000000
        NS
        
        677886.46000000
        1.517419278022
        Long
        EC
        CORP
        CN
        Y
        
        1
        
          N
          N
          N
        
      
      
        Luminar Technologies Inc
        549300AVGXLDWYMI4298
        Luminar Technologies Inc
        550424105
        
          
        
        47060.00000000
        NS
        USD
        735547.80000000
        1.646491672996
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Lion Electric Co/The
        894500XKOKXHCZ99CE73
        Lion Electric Co/The
        536221104
        
          
        
        53407.00000000
        NS
        USD
        448618.80000000
        1.004213619495
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Tesla Inc
        54930043XZGB27CTOV49
        Tesla Inc
        88160R101
        
          
        
        2253.00000000
        NS
        USD
        2427832.80000000
        5.434597844802
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        STMicroelectronics NV
        213800Z8NOHIKRI42W10
        STMicroelectronics NV
        000000000
        
          
        
        22364.00000000
        NS
        
        985627.94000000
        2.206285160370
        Long
        EC
        CORP
        NL
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Intel Corp
        KNX4USFCNGPY45LOCE31
        Intel Corp
        458140100
        
          
        
        36668.00000000
        NS
        USD
        1817266.08000000
        4.067870868949
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PowerCell Sweden AB
        54930075IJ7TGOK3VC02
        PowerCell Sweden AB
        000000000
        
          
        
        24859.00000000
        NS
        
        497878.87000000
        1.114480137954
        Long
        EC
        CORP
        SE
        N
        
        1
        
          N
          N
          N
        
      
      
        TuSimple Holdings Inc
        N/A
        TuSimple Holdings Inc
        90089L108
        
          
        
        26566.00000000
        NS
        USD
        324105.20000000
        0.725495355944
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Ambarella Inc
        254900XN7F4DG0CEKC02
        Ambarella Inc
        000000000
        
          
        
        4893.00000000
        NS
        USD
        513373.56000000
        1.149164325794
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        FuelCell Energy Inc
        549300SRU8020X1X9J22
        FuelCell Energy Inc
        35952H601
        
          
        
        103085.00000000
        NS
        USD
        593769.60000000
        1.329127355256
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Chunbo Co Ltd
        N/A
        Chunbo Co Ltd
        000000000
        
          
        
        1945.00000000
        NS
        
        542395.12000000
        1.214127822222
        Long
        EC
        CORP
        KR
        N
        
        1
        
          N
          N
          N
        
      
      
        Samsung SDI Co Ltd
        9884002AESDO4YW87G32
        Samsung SDI Co Ltd
        000000000
        
          
        
        2941.00000000
        NS
        
        1446174.66000000
        3.237198908608
        Long
        EC
        CORP
        KR
        N
        
        1
        
          N
          N
          N
        
      
      
        Allegro MicroSystems Inc
        N/A
        Allegro MicroSystems Inc
        01749D105
        
          
        
        12828.00000000
        NS
        USD
        364315.20000000
        0.815503687382
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Skyworks Solutions Inc
        549300WZ3ORQ2BVKBD96
        Skyworks Solutions Inc
        83088M102
        
          
        
        6261.00000000
        NS
        USD
        834466.08000000
        1.867915928942
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        QUALCOMM Inc
        H1J8DDZKZP6H7RWC0H53
        QUALCOMM Inc
        747525103
        
          
        
        10448.00000000
        NS
        USD
        1596663.36000000
        3.574061300733
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Gentex Corp
        549300S3UD8XV1MN0287
        Gentex Corp
        371901109
        
          
        
        29809.00000000
        NS
        USD
        869528.53000000
        1.946401694190
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ON Semiconductor Corp
        ZV20P4CNJVT8V1ZGJ064
        ON Semiconductor Corp
        682189105
        
          
        
        14691.00000000
        NS
        USD
        919803.51000000
        2.058940044424
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Blink Charging Co
        N/A
        Blink Charging Co
        09354A100
        
          
        
        18256.00000000
        NS
        USD
        483053.76000000
        1.081294775743
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SiTime Corp
        N/A
        SiTime Corp
        82982T106
        
          
        
        2280.00000000
        NS
        USD
        565029.60000000
        1.264794118610
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        EVgo Inc
        N/A
        EVgo Inc
        30052F100
        
          
        
        39117.00000000
        NS
        USD
        503044.62000000
        1.126043444050
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Doosan Fuel Cell Co Ltd
        N/A
        Doosan Fuel Cell Co Ltd
        000000000
        
          
        
        15185.00000000
        NS
        
        512409.97000000
        1.147007371601
        Long
        EC
        CORP
        KR
        N
        
        1
        
          N
          N
          N
        
      
      
        indie Semiconductor Inc
        254900L1MFXFYGB1PV53
        indie Semiconductor Inc
        45569U101
        
          
        
        29029.00000000
        NS
        USD
        226716.49000000
        0.507494975739
        Long
        EC
        CORP
        US
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Melexis NV
        549300QRPSGOJRPUFO80
        Melexis NV
        000000000
        
          
        
        4094.00000000
        NS
        
        382635.98000000
        0.856513954441
        Long
        EC
        CORP
        BE
        N
        
        1
        
          N
          N
          N
        
      
      
        Visteon Corp
        549300MOVLYHRW4GGW78
        Visteon Corp
        92839U206
        
          
        
        6008.00000000
        NS
        USD
        655653.04000000
        1.467650736954
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Livent Corp
        254900OOLQ2VNMZTJL47
        Livent Corp
        53814L108
        
          
        
        32744.00000000
        NS
        USD
        853636.08000000
        1.910827137936
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NIO Inc
        549300JBU4TV5OCKJV96
        NIO Inc
        62914V106
        
          
        
        69335.00000000
        NS
        USD
        1459501.75000000
        3.267031018377
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Aptiv PLC
        N/A
        Aptiv PLC
        000000000
        
          
        
        12419.00000000
        NS
        USD
        1486678.49000000
        3.327864965687
        Long
        EC
        CORP
        JE
        
        N
        
        1
        
          N
          N
          N
        
      
      
        XPeng Inc
        N/A
        XPeng Inc
        98422D105
        
          
        
        31444.00000000
        NS
        USD
        867539.96000000
        1.941950366967
        Long
        EC
        CORP
        KY
        
        N
        
        1
        
          N
          N
          N
        
      
      
        Infineon Technologies AG
        TSI2PJM6EPETEQ4X1U25
        Infineon Technologies AG
        000000000
        
          
        
        32269.00000000
        NS
        
        1112488.91000000
        2.490257909297
        Long
        EC
        CORP
        DE
        N
        
        1
        
          N
          N
          N
        
      
      
        Hella GmbH & Co KGaA
        529900PLX4ADJFWIY024
        Hella GmbH & Co KGaA
        000000000
        
          
        
        7726.00000000
        NS
        
        500650.61000000
        1.120684557068
        Long
        EC
        CORP
        DE
        N
        
        1
        
          N
          N
          N
        
      
      
        LG Chem Ltd
        988400IES4EIG7O06940
        LG Chem Ltd
        000000000
        
          
        
        2233.00000000
        NS
        
        980121.28000000
        2.193958742106
        Long
        EC
        CORP
        KR
        N
        
        1
        
          N
          N
          N
        
      
      
        Ballard Power Systems Inc
        549300OHZ8BMF53YYS26
        Ballard Power Systems Inc
        058586108
        
          
        
        60922.00000000
        NS
        
        709671.43000000
        1.588568547222
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        Valeo
        5493006IH2N2WMIBB742
        Valeo
        000000000
        
          
        
        40764.00000000
        NS
        
        759941.05000000
        1.701094899330
        Long
        EC
        CORP
        FR
        N
        
        1
        
          N
          N
          N
        
      
    
    
      
    
    
      2022-04-25
      FIDELITY COVINGTON TRUST
      Stacie M Smith
      Stacie M Smith
      President and Treasurer
    
  
  XXXX




FOR VALIDATION PURPOSES ONLY - [288600.TX4]
Quarterly Holdings Report
for
Fidelity® Electric Vehicles And Future Transportation ETF
March 31, 2022
EVF-NPRT3-0522
1.9903836.100

Schedule of Investments March 31, 2022 (Unaudited)
Showing Percentage of Net Assets
Common Stocks – 99.9%
  Shares Value
CONSUMER DISCRETIONARY – 31.6%
Auto Components – 14.9%
Aptiv PLC (a) 12,620 $ 1,510,740
Faurecia SE 24,535 645,618
Gentex Corp. 30,361 885,630
Hella GmbH & Co. KGaA 7,887 511,084
Lear Corp. 6,427 916,426
Luminar Technologies, Inc. (a) 47,804 747,176
Valeo S.A. 41,436 772,469
Visteon Corp. (a) 6,105 666,239
    6,655,382
Automobiles – 12.7%
Li Auto, Inc. ADR (a) 32,818 847,033
NIO, Inc. ADR (a) 70,423 1,482,404
Tesla, Inc. (a) 2,289 2,466,626
XPeng, Inc. ADR (a) 31,937 881,142
    5,677,205
Household Durables – 2.9%
Garmin Ltd. 10,713 1,270,669
Specialty Retail – 1.1%
EVgo, Inc. (a) 39,732 510,954
TOTAL CONSUMER DISCRETIONARY 14,114,210
INDUSTRIALS – 21.4%
Electrical Equipment – 12.9%
Ballard Power Systems, Inc. (a) 61,885 720,889
Blink Charging Co. (a) 18,543 490,648
Bloom Energy Corp. Class A (a) 31,684 765,169
ChargePoint Holdings, Inc. (a) 42,626 847,405
Doosan Fuel Cell Co. Ltd. (a) 15,427 520,576
FuelCell Energy, Inc. (a) 104,703 603,089
Plug Power, Inc. (a) 45,382 1,298,379
PowerCell Sweden AB (a) 25,274 506,191
    5,752,346
Machinery – 1.0%
The Lion Electric Co. (a) 54,256 455,750
Road & Rail – 7.5%
Lyft, Inc. Class A (a) 27,982 1,074,509
TuSimple Holdings, Inc. (a) 26,979 329,144
Uber Technologies, Inc. (a) 55,189 1,969,143
    3,372,796
TOTAL INDUSTRIALS 9,580,892
INFORMATION TECHNOLOGY – 33.8%
Electronic Equipment, Instruments & Components – 3.3%
Samsung SDI Co. Ltd. 2,988 1,469,286
Semiconductors & Semiconductor Equipment – 30.5%
Allegro MicroSystems, Inc. (a) 13,017 369,683

  Shares Value
Ambarella, Inc. (a) 4,970 $ 521,452
ams AG (a) 33,825 524,329
CEVA, Inc. (a) 7,538 306,420
indie Semiconductor, Inc. (a) 29,472 230,176
Infineon Technologies AG 32,821 1,131,519
Intel Corp. 37,246 1,845,912
Melexis N.V. 4,168 389,552
NVIDIA Corp. 8,099 2,209,893
NXP Semiconductors N.V. 6,108 1,130,469
ON Semiconductor Corp. (a) 14,922 934,266
QUALCOMM, Inc. 10,614 1,622,031
SiTime Corp. (a) 2,316 573,951
Skyworks Solutions, Inc. 6,359 847,528
STMicroelectronics N.V. 22,751 1,002,684
    13,639,865
TOTAL INFORMATION TECHNOLOGY 15,109,151
MATERIALS – 13.1%
Chemicals – 9.6%
Albemarle Corp. 5,642 1,247,728
Chunbo Co. Ltd. 1,977 551,319
LG Chem Ltd. 2,270 996,362
Livent Corp. (a) 33,265 867,219
SK IE Technology Co. Ltd. (a)(b) 5,847 610,243
    4,272,871
Metals & Mining – 3.5%
Allkem Ltd. (a) 102,940 883,571
Ganfeng Lithium Co. Ltd. (b) 48,200 689,327
    1,572,898
TOTAL MATERIALS 5,845,769
TOTAL COMMON STOCKS
(Cost $51,932,398)
44,650,022
TOTAL INVESTMENT IN SECURITIES – 99.9%
(Cost $51,932,398)
44,650,022
NET OTHER ASSETS (LIABILITIES) – 0.1% 23,624
NET ASSETS – 100.0% $ 44,673,646
    
Legend  
(a) Non-income producing.
(b) Security is 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 $1,299,570 or 2.9% of net assets.
 
 Quarterly Report 2

Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including ownership percentage, is presented below.
Fund 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, 0.31% $—   $4,813,744   $4,813,744   $16   $—   $—   $—   0.0%
Amounts in the 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 delegated the day to day responsibility for the valuation of the Fund’s investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors 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 procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific event. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee’s activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund’s investments and ratifies the fair value determinations of the Committee.
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 vendor 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.
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 or annual shareholder report.
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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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