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 ($1.4m this quarter). Holder counts are more reliable. Shares outstanding: 116.6m as of 2025-02-14, 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 ≈ $11.23. Options: 18 managers hold calls ($20.2m notional), 13 hold puts ($12.8m).
Trends to Q4 2024
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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 129 | 104 |
| Q2 2023 | 103 | 119 |
| Q3 2023 | 101 | 102 |
| Q4 2023 | 137 | 83 |
| Q1 2024 | 133 | 103 |
| Q2 2024 | 144 | 125 |
| Q3 2024 | 129 | 130 |
| Q4 2024 | 136 | 140 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $15.5m | $7.8m | 0.50 |
| Q2 2024 | $10.5m | $25.1m | 2.39 |
| Q3 2024 | $75.4m | $84.2m | 1.12 |
| Q4 2024 | $20.2m | $12.8m | 0.63 |
Biggest buyers
| CADIAN CAPITAL MANAGEMENT, LP | New | +5.2m |
| Camber Capital Management LP | Added | +2.6m |
| UBS Group AG | Added | +1.6m |
| Engaged Capital LLC | Added | +1.4m |
| Boston Partners | Added | +1.2m |
| Philosophy Capital Management LLC | New | +965.2k |
| MILLENNIUM MANAGEMENT LLC | Added | +835.1k |
| Sea Cliff Partners Management, LP | New | +830.0k |
| EVENTIDE ASSET MANAGEMENT, LLC | Added | +748.2k |
| BARCLAYS PLC | Added | +641.6k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -5.0m |
| RA CAPITAL MANAGEMENT, L.P. | Reduced | -4.9m |
| First Light Asset Management, LLC | Reduced | -2.2m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -2.2m |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -1.7m |
| ORBIMED ADVISORS LLC | Sold out | -1.7m |
| Bellevue Group AG | Reduced | -1.6m |
| FULLER & THALER ASSET MANAGEMENT, INC. | Sold out | -1.5m |
| Holocene Advisors, LP | Reduced | -1.4m |
| Hood River Capital Management LLC | Sold out | -1.3m |
Biggest calls
| Caption Management, LLC | Reduced | $3.8m335.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.3m296.6k shares |
| GROUP ONE TRADING LLC | Reduced | $3.3m289.4k shares |
| AYAL Capital Advisors Ltd | New | $2.7m240.0k shares |
| Squarepoint Ops LLC | Added | $1.4m121.1k shares |
| CITADEL ADVISORS LLC | Reduced | $1.1m99.5k shares |
| Cubist Systematic Strategies, LLC | Reduced | $1.1m97.8k shares |
| JANE STREET GROUP, LLC | Reduced | $765.0k68.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $732.0k65.1k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $691.9k61.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.8m249.8k shares |
| Jefferies Financial Group Inc. | Reduced | $2.4m210.1k shares |
| CITADEL ADVISORS LLC | Reduced | $2.2m193.9k shares |
| Caption Management, LLC | Reduced | $1.7m153.3k shares |
| JANE STREET GROUP, LLC | Reduced | $1.6m143.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $648.0k57.6k shares |
| GROUP ONE TRADING LLC | Reduced | $619.9k55.1k shares |
| WOLVERINE TRADING, LLC | Added | $420.5k38.3k shares |
| Walleye Trading LLC | Reduced | $166.5k14.8k shares |
| Squarepoint Ops LLC | Reduced | $142.9k12.7k 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 in Q4 2024
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 |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 2 | $23.3m | — |
| Q2 2023 | 0 | — | 6 | $14.8m | $14.5m |
| Q3 2023 | 0 | — | 1 | $221.6k | — |
| Q4 2023 | 0 | — | 2 | $4.1m | $4.1m |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 5 | $9.6m | $9.6m |
| Q4 2024 | 0 | — | 0 | — | — |
None reported in Q4 2024.
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 11.2m $125.7m | Added +259.8k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 10.4m $117.4m | Reduced -2.2m |
| BlackRock, Inc. 0.00% of their portfolio | 9.3m $104.9m | Added +524.9k |
| Engaged Capital LLC 12.50% of their portfolio | 5.4m $60.8m | Added +1.4m |
| CADIAN CAPITAL MANAGEMENT, LP 3.38% of their portfolio | 5.2m $58.8m | New |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 4.8m $53.8m | Reduced -158.2k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.93% of their portfolio | 4.6m $51.2m | Added +748.2k |
| FMR LLC 0.00% of their portfolio | 4.5m $50.4m | Added +144.3k |
| Camber Capital Management LP 1.76% of their portfolio | 4.0m $45.0m | Added +2.6m |
| Granahan Investment Management, LLC 1.73% of their portfolio | 3.7m $41.3m | Added +181.9k |
| RA CAPITAL MANAGEMENT, L.P. 0.54% of their portfolio | 3.6m $40.2m | Reduced -4.9m |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.2m $35.9m | Reduced -5.0m |
| STATE STREET CORP 0.00% of their portfolio | 3.0m $33.3m | Added +234.9k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.9m $32.6m | Added +466.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.5m $28.3m | Reduced -6.9k |
| Boston Partners 0.03% of their portfolio | 2.4m $27.1m | Added +1.2m |
| Rock Springs Capital Management LP 0.88% of their portfolio | 2.1m $23.2m | Reduced -10.0k |
| UBS Group AG 0.00% of their portfolio | 1.8m $20.0m | Added +1.6m |
| BLAIR WILLIAM & CO/IL 0.05% of their portfolio | 1.7m $18.7m | Reduced -497.1k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 1.4m $16.2m | Reduced -462.8k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.10% of their portfolio | 1.4m $15.4m | Added +372.8k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 1.3m $14.1m | Added +835.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.2m $13.4m | Added +17.1k |
| Bellevue Group AG 0.24% of their portfolio | 1.1m $12.5m | Reduced -1.6m |
| NORGES BANK 0.00% of their portfolio | 1.1m $12.5m | Reduced -234.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 1.1m $12.2m | Added +471.1k |
| Hudson Bay Capital Management LP 0.07% of their portfolio | 1.0m $11.4m | Added +601.4k |
| Philosophy Capital Management LLC 1.46% of their portfolio | 965.2k $10.9m | New |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 919.0k $10.3m | Added +6.6k |
| BARCLAYS PLC 0.01% of their portfolio | 915.4k $10.3m | Added +641.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 866.5k $9.7m | Reduced -497.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio | 844.5k $9.5m | Reduced -575.9k |
| Sea Cliff Partners Management, LP 3.24% of their portfolio | 830.0k $9.3m | New |
| HARBOR CAPITAL ADVISORS, INC. 0.39% of their portfolio | 803.2k $9.0m | Added +380.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 744.4k $8.4m | Added +28.5k |
| Mesirow Institutional Investment Management, Inc. 0.61% of their portfolio | 701.9k $7.9m | Added +282.5k |
| GABELLI FUNDS LLC 0.06% of their portfolio | 698.8k $7.9m | Reduced -22.7k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 650.3k $7.3m | Reduced -44.0k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 644.8k $7.3m | Reduced -1.7m |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 623.1k $7.0m | New |
| Holocene Advisors, LP 0.02% of their portfolio | 611.6k $6.9m | Reduced -1.4m |
| Rock Point Advisors, LLC 1.96% of their portfolio | 599.1k $6.7m | Added +133.4k |
| ROYCE & ASSOCIATES LP 0.06% of their portfolio | 576.2k $6.5m | Added +326.2k |
| MORGAN STANLEY 0.00% of their portfolio | 570.4k $6.4m | Reduced -132.2k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.17% of their portfolio | 503.6k $5.7m | Added +198.4k |
| GLENMEDE TRUST CO NA 0.03% of their portfolio | 503.6k $5.7m | Reduced -227 |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 482.0k $5.4m | Added +283.5k |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 455.6k $5.1m | Added +365.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 381.0k $4.3m | Reduced -39.1k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.09% of their portfolio | 365.2k $4.1m | Added +105.7k |
| One68 Global Capital, LLC 2.17% of their portfolio | 361.0k $4.1m | First filing |
| CITIGROUP INC 0.00% of their portfolio | 351.1k $4.0m | Added +204.2k |
| SALEM INVESTMENT COUNSELORS INC 0.13% of their portfolio | 350.2k $3.9m | Added +121.4k |
| BRIGHTON JONES LLC 0.11% of their portfolio | 349.1k $3.9m | New |
| TUDOR INVESTMENT CORP ET AL 0.04% of their portfolio | 326.3k $3.7m | Added +160.8k |
| Point72 Asset Management, L.P. 0.01% of their portfolio | 281.1k $3.2m | Reduced -1.2m |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 275.8k $3.1m | Added +39.5k |
| Fort Baker Capital Management LP 0.49% of their portfolio | 269.2k $3.0m | New |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 262.1k $2.9m | Added +50.2k |
| Shay Capital LLC 0.72% of their portfolio | 260.0k $2.9m | Added +22.5k |
| Jefferies Financial Group Inc. 0.03% of their portfolio | 255.0k $2.9m | Added +187.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 231.0k $2.6m | Reduced -37.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 229.8k $2.6m | Added +65.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 226.0k $2.5m | First filing |
| CONGRESS ASSET MANAGEMENT CO 0.02% of their portfolio | 224.3k $2.5m | Added +120.3k |
| Foundry Partners, LLC 0.12% of their portfolio | 215.3k $2.4m | Reduced -139.8k |
| Summit Creek Advisors LLC 0.30% of their portfolio | 202.1k $2.3m | Added +1.6k |
| GAMCO INVESTORS, INC. ET AL 0.02% of their portfolio | 197.1k $2.2m | Added +60.0k |
| Swiss National Bank 0.00% of their portfolio | 192.9k $2.2m | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 185.6k $2.1m | Added +32.9k |
| Edgestream Partners, L.P. 0.09% of their portfolio | 177.4k $2.0m | New |
| MOODY NATIONAL BANK TRUST DIVISION 0.21% of their portfolio | 176.7k $2.0m | Added +7.5k |
| Lombard Odier Asset Management (Europe) Ltd 0.13% of their portfolio | 175.0k $2.0m | Unchanged |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 166.4k $1.9m | Reduced -3.7k |
| Prescott Group Capital Management, L.L.C. 0.23% of their portfolio | 152.3k $1.7m | New |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 151.9k $1.7m | Added +121.6k |
| MACQUARIE GROUP LTD 0.00% of their portfolio | 151.6k $1.7m | Reduced -480.0k |
| Forest Hill Capital, LLC 1.26% of their portfolio | 144.8k $1.6m | Added +100.0k |
| Valeo Financial Advisors, LLC 0.00% of their portfolio | 141.6k $142.8k | Added +115 |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 130.5k $1.5m | Added +8.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 127.8k $1.4m | Reduced -100.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 125.0k $1.4m | Added +105 |
| SEI INVESTMENTS CO 0.00% of their portfolio | 124.3k $1.4m | Reduced -2.1k |
| Quantbot Technologies LP 0.05% of their portfolio | 120.1k $1.4m | New |
| Invesco Ltd. 0.00% of their portfolio | 115.6k $1.3m | Reduced -1.2m |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 114.0k $1.3m | Reduced -1.3m |
| Legal & General Group Plc 0.00% of their portfolio | 112.7k $1.3m | Added +4.1k |
| Sterling Capital Management LLC 0.02% of their portfolio | 106.3k $1.2m | Added +28.4k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 94.3k $1.1m | Added +29.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 93.6k $1.1m | Reduced -1.0k |
| Quinn Opportunity Partners LLC 0.07% of their portfolio | 90.0k $1.0m | New |
| Raiffeisen Bank International AG 0.01% of their portfolio | 90.0k $988.2k | First filing |
| Caption Management, LLC 0.04% of their portfolio | 79.0k $888.4k | Added +79.0k |
| Creative Planning 0.00% of their portfolio | 78.2k $879.6k | Added +34.9k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 76.3k $858.1k | Added +16.1k |
| Aquatic Capital Management LLC 0.02% of their portfolio | 75.1k $845.0k | New |
| SIMPLEX TRADING, LLC 0.02% of their portfolio | 73.7k $828.0k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 70.9k $797.8k | Added +4.2k |
| Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio | 70.6k $794.4k | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 69.5k $781.3k | Reduced -20.8k |