EVOLENT HEALTH INC EVH
CL A · Common Stock · CUSIP 30050B101 · ISIN US30050B1017
- SectorIndustrials
- IndustryServices-Management Services
- HeadquartersArlington, VA
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($611.4k this quarter). Holder counts are more reliable. Shares outstanding: 113.1m as of 2026-08-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $5.42. Options: 6 managers hold calls ($1.1m notional), 6 hold puts ($2.0m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 251 |
| Q4 2022 | 232 |
| Q1 2023 | 241 |
| Q2 2023 | 218 |
| Q3 2023 | 205 |
| Q4 2023 | 236 |
| Q1 2024 | 252 |
| Q2 2024 | 245 |
| Q3 2024 | 264 |
| Q4 2024 | 243 |
| Q1 2025 | 231 |
| Q2 2025 | 223 |
| Q3 2025 | 240 |
| Q4 2025 | 216 |
| Q1 2026 | 192 |
| Q2 2026 | 199 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 129 | 130 |
| Q4 2024 | 136 | 140 |
| Q1 2025 | 123 | 123 |
| Q2 2025 | 116 | 115 |
| Q3 2025 | 120 | 110 |
| Q4 2025 | 116 | 118 |
| Q1 2026 | 97 | 121 |
| Q2 2026 | 102 | 93 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $2.9m | $1.6m | 0.56 |
| Q4 2025 | $3.0m | $966.0k | 0.32 |
| Q1 2026 | $273.8k | $337.4k | 1.23 |
| Q2 2026 | $1.1m | $2.0m | 1.89 |
Biggest buyers
| BlackRock, Inc. | Added | +3.9m |
| Nuveen, LLC | Added | +2.9m |
| MARSHALL WACE, LLP | Added | +2.6m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +1.3m |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Added | +991.5k |
| Walleye Capital LLC | Added | +709.8k |
| ALGERT GLOBAL LLC | New | +656.5k |
| AQR CAPITAL MANAGEMENT LLC | Added | +618.8k |
| TUDOR INVESTMENT CORP ET AL | Added | +596.4k |
| BANK OF AMERICA CORP /DE/ | Added | +594.5k |
Biggest sellers
| MAVERICK CAPITAL LTD | Sold out | -2.6m |
| EVENTIDE ASSET MANAGEMENT, LLC | Sold out | -2.5m |
| UBS Group AG | Reduced | -1.9m |
| JANE STREET GROUP, LLC | Sold out | -1.8m |
| HRT FINANCIAL LP | Sold out | -1.7m |
| Tejara Capital Ltd | Reduced | -1.5m |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -1.0m |
| GOLDMAN SACHS GROUP INC | Reduced | -490.8k |
| Hudson Bay Capital Management LP | Reduced | -403.3k |
| Balyasny Asset Management L.P. | Reduced | -351.2k |
Biggest calls
| JANE STREET GROUP, LLC | Added | $419.0k77.3k shares |
| CITADEL ADVISORS LLC | Added | $377.8k69.7k shares |
| Walleye Capital LLC | New | $97.0k17.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $78.0k14.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $47.7k8.8k shares |
| GROUP ONE TRADING LLC | Reduced | $42.3k7.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $750.7k138.5k shares |
| GROUP ONE TRADING LLC | Added | $472.1k87.1k shares |
| JANE STREET GROUP, LLC | Added | $304.1k56.1k shares |
| CITADEL ADVISORS LLC | Added | $243.9k45.0k shares |
| IMC-Chicago, LLC | New | $127.9k23.6k shares |
| SIMPLEX TRADING, LLC | Added | $112.2k20.7k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| CADIAN CAPITAL MANAGEMENT, LP 13G · institution new · filed 2025-05-15 | 9.3% |
| BlackRock Portfolio Management LLC 13G · institution new · filed 2026-07-17 | 5.5% |
| Boehler Adam 13G · exempt (held before listing) new · filed 2025-11-14 | 5.2% |
Fell to 5% or below in the last year: MORGAN STANLEY (2.7%, 2026-09-08), VANGUARD GROUP INC (0.0%, 2026-03-26), EVENTIDE ASSET MANAGEMENT, LLC (0.0%, 2026-02-13), FMR LLC (0.7%, 2026-02-05), Durable Capital Partners LP (0.0%, 2025-11-14)
Insider purchases and sales since 1 Apr 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 9 | $1.2m | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
| Q4 2025 | 1 | $38.2k | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 1 | $329.5k | $329.5k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-26 | McCarthy Daniel Joseph PRESIDENT | Sold plan | $329.5k65.9k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.00% of their portfolio | 14.8m $80.3m | Added +3.9m |
| CADIAN CAPITAL MANAGEMENT, LP 4.44% of their portfolio | 10.8m $58.6m | Unchanged |
| MORGAN STANLEY 0.00% of their portfolio | 9.0m $48.6m | Reduced -112.1k |
| UBS Group AG 0.01% of their portfolio | 6.2m $33.8m | Reduced -1.9m |
| Rubicon Founders LLC 16.05% of their portfolio | 5.8m $31.5m | Unchanged |
| Engaged Capital LLC 9.22% of their portfolio | 5.6m $30.2m | Unchanged |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 5.1m $27.7m | Reduced -326.5k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 4.8m $26.0m | Reduced -79.4k |
| MARSHALL WACE, LLP 0.02% of their portfolio | 3.4m $18.5m | Added +2.6m |
| Nuveen, LLC 0.00% of their portfolio | 3.1m $17.0m | Added +2.9m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.9m $15.7m | Added +286.5k |
| Rock Springs Capital Management LP 0.66% of their portfolio | 2.5m $13.6m | Reduced -175.0k |
| STATE STREET CORP 0.00% of their portfolio | 2.5m $13.3m | Reduced -186.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 2.1m $11.6m | Added +182.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.7m $9.5m | Reduced -490.8k |
| Rock Point Advisors, LLC 2.28% of their portfolio | 1.7m $9.3m | Reduced -66.8k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.03% of their portfolio | 1.6m $8.7m | Added +991.5k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 1.6m $8.5m | Reduced -29.8k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 1.3m $7.3m | Added +416.9k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.01% of their portfolio | 1.3m $6.9m | New |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 1.3m $6.8m | Added +392.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.0m $5.4m | Added +86.1k |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 913.1k $4.9m | Reduced -403.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 875.4k $4.7m | Added +594.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 860.4k $4.7m | Reduced -31.0k |
| Walleye Capital LLC 0.02% of their portfolio | 845.8k $4.6m | Added +709.8k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 792.8k $4.3m | Added +618.8k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 765.0k $4.1m | Reduced -1.0m |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 762.4k $4.1m | Added +34.5k |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 699.3k $3.8m | Added +596.4k |
| Voleon Capital Management LP 0.07% of their portfolio | 666.5k $3.6m | Reduced -182.8k |
| ALGERT GLOBAL LLC 0.04% of their portfolio | 656.5k $3.6m | New |
| CAPITOLIS LIQUID GLOBAL MARKETS LLC 0.01% of their portfolio | 630.0k $3.4m | Unchanged |
| GSA CAPITAL PARTNERS LLP 0.19% of their portfolio | 561.2k $3.0m | Added +248.5k |
| Man Group plc 0.00% of their portfolio | 498.3k $2.7m | Added +401.4k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 488.8k $2.6m | Reduced -216.4k |
| FORMULA GROWTH LTD 0.92% of their portfolio | 485.0k $2.6m | Added +270.0k |
| CITIGROUP INC 0.00% of their portfolio | 465.1k $2.5m | Reduced -346.9k |
| Tejara Capital Ltd 0.98% of their portfolio | 441.5k $2.4m | Reduced -1.5m |
| Invesco Ltd. 0.00% of their portfolio | 414.6k $2.2m | Reduced -29.3k |
| Jump Financial, LLC 0.02% of their portfolio | 388.1k $2.1m | Added +38.0k |
| Mariner, LLC 0.00% of their portfolio | 371.8k $2.0m | Added +140.2k |
| Jupiter Topco LLC 0.00% of their portfolio | 364.1k $2.0m | First filing |
| Benefit Street Partners LLC 2.83% of their portfolio | 363.2k $2.0m | New |
| Bank of New York Mellon Corp 0.00% of their portfolio | 344.6k $1.9m | Added +16.1k |
| Creative Planning 0.00% of their portfolio | 330.0k $1.8m | Reduced -17.4k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 303.3k $1.6m | Reduced -72.5k |
| BRIGHTON JONES LLC 0.03% of their portfolio | 294.1k $1.6m | Added +2.6k |
| Jefferies Financial Group Inc. 0.01% of their portfolio | 291.6k $1.6m | Unchanged |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 264.5k $1.4m | Added +163.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 264.5k $1.4m | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 250.8k $1.4m | Reduced -139.5k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 249.8k $1.4m | Reduced -52.5k |
| GAMCO INVESTORS, INC. ET AL 0.01% of their portfolio | 247.5k $1.3m | Reduced -42.0k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 237.2k $1.3m | Added +76.1k |
| CONGRESS ASSET MANAGEMENT CO 0.01% of their portfolio | 228.7k $1.2m | Added +2.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 227.7k $1.2m | Added +160.4k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 216.2k $1.2m | Reduced -341.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 205.0k $1.1m | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 203.4k $1.1m | Added +66.4k |
| GABELLI FUNDS LLC 0.01% of their portfolio | 198.3k $1.1m | Reduced -86.0k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 196.9k $1.1m | Added +105.4k |
| Engineers Gate Manager LP 0.01% of their portfolio | 190.8k $1.0m | Reduced -55.4k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 171.8k $930.9k | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 165.6k $898.0k | Added +15.8k |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 160.0k $867.1k | Added +145.0k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 157.8k $855.4k | Added +5.3k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 150.0k $813.0k | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 140.3k $760.2k | Added +135.4k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 123.8k $282.2k | Unchanged |
| XTX Topco Ltd 0.01% of their portfolio | 112.4k $609.3k | Reduced -171.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 109.0k $590.6k | Added +58.3k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 107.4k $582.3k | Reduced -42.8k |
| Quantinno Capital Management LP 0.00% of their portfolio | 100.9k $546.9k | New |
| Quinn Opportunity Partners LLC 0.03% of their portfolio | 99.7k $540.3k | Unchanged |
| Atom Investors LP 0.04% of their portfolio | 90.1k $488.5k | Reduced -212.3k |
| Tempus Wealth Planning, LLC 0.09% of their portfolio | 83.8k $454.2k | Reduced -75.7k |
| State of Wyoming 0.05% of their portfolio | 82.4k $446.4k | Reduced -39.4k |
| Corient Private Wealth LP 0.00% of their portfolio | 81.6k $442.2k | Added +66.7k |
| Graham Capital Management, L.P. 0.01% of their portfolio | 76.9k $416.9k | Reduced -106.6k |
| BARCLAYS PLC 0.00% of their portfolio | 71.5k $387.5k | Reduced -2.7k |
| NATIXIS 0.00% of their portfolio | 71.0k $384.8k | Reduced -2.1k |
| Smithfield Trust Co 0.02% of their portfolio | 70.6k $383.0k | Added +67.8k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 69.3k $375.3k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 67.4k $365.2k | Added +30.6k |
| NORGES BANK 0.00% of their portfolio | 63.5k $343.9k | Not comparable |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 61.0k $352.3k | Reduced -329.4k |
| BROWN ADVISORY INC 0.00% of their portfolio | 60.8k $329.4k | Unchanged |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 60.7k $329.0k | Reduced -46.4k |
| Quantbot Technologies LP 0.01% of their portfolio | 60.2k $326.4k | Reduced -210.3k |
| GROUP ONE TRADING LLC 0.01% of their portfolio | 60.0k $325.4k | New |
| Jain Global LLC 0.00% of their portfolio | 55.5k $300.6k | Added +14.2k |
| Vanguard Personalized Indexing Management, LLC 0.00% of their portfolio | 55.4k $300.0k | Added +13.6k |
| INCEPTIONR LLC 0.07% of their portfolio | 49.8k $269.8k | New |
| IRONWOOD INVESTMENT MANAGEMENT LLC 0.09% of their portfolio | 49.4k $267.8k | Added +5.0k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 45.9k $248.5k | Added +6.8k |
| Numerai GP LLC 0.02% of their portfolio | 45.0k $243.6k | New |
| Callan Family Office, LLC 0.00% of their portfolio | 37.2k $201.7k | Added +5.7k |
| BLAIR WILLIAM & CO/IL 0.00% of their portfolio | 36.2k $196.5k | Added +1.2k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 35.8k $194.3k | New |