Fidelity Covington Trust - Fidelity Fundamental Large Cap Core ETF Price & Performance (FFLC)

Recent filings show International Assets Investment Management, LLC has notably decreased its allocations to leading tech companies such as NVIDIA, Apple, and Amazon. The largest reduction was in NVIDIA, down nearly 1% of portfolio allocation. This shift may reflect profit-taking or a move toward diversification after strong tech sector gains.12

Brown & Brown stock maintains a consensus 'Hold' rating, with analysts citing a price-to-earnings ratio above both market and sector averages. Despite high valuation metrics, the company’s insider and institutional ownership remains robust, and recent decreases in short interest suggest improving investor confidence.34

Fidelity’s suite of actively managed large cap ETFs reveals contrasting performance and valuation. The Core ETF’s P/E ratio stands at 23.69, while the Value ETF is lower at 17.73. Both funds emphasize long-term capital growth, but their different approaches offer investors options for growth or value exposure in changing markets.56