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 ($164.2k this quarter). Holder counts are more reliable. Shares outstanding: 117.4m as of 2025-05-02, 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 ≈ $9.47. Options: 11 managers hold calls ($5.5m notional), 8 hold puts ($1.7m).
Trends to Q1 2025
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 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q1 2025 | 123 | 123 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $10.5m | $25.1m | 2.39 |
| Q3 2024 | $75.4m | $84.2m | 1.12 |
| Q4 2024 | $20.2m | $12.8m | 0.63 |
| Q1 2025 | $5.5m | $1.7m | 0.30 |
Biggest buyers
| CADIAN CAPITAL MANAGEMENT, LP | Added | +5.6m |
| MORGAN STANLEY | Added | +4.2m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | New | +2.7m |
| GOLDMAN SACHS GROUP INC | Added | +1.8m |
| EVENTIDE ASSET MANAGEMENT, LLC | Added | +1.5m |
| D. E. Shaw & Co., Inc. | Added | +1.3m |
| Point72 Asset Management, L.P. | Added | +1.2m |
| UBS Group AG | Added | +761.2k |
| Rubicon Founders LLC | New | +653.5k |
| Rock Springs Capital Management LP | Added | +635.7k |
Biggest sellers
| RA CAPITAL MANAGEMENT, L.P. | Sold out | -3.6m |
| Boston Partners | Sold out | -2.4m |
| Granahan Investment Management, LLC | Reduced | -2.3m |
| FMR LLC | Reduced | -1.3m |
| BLAIR WILLIAM & CO/IL | Reduced | -1.0m |
| Camber Capital Management LP | Reduced | -1.0m |
| HARBOR CAPITAL ADVISORS, INC. | Sold out | -803.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -645.8k |
| Hudson Bay Capital Management LP | Reduced | -617.7k |
| Holocene Advisors, LP | Sold out | -611.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.5m160.7k shares |
| MILLENNIUM MANAGEMENT LLC | New | $1.4m150.0k shares |
| Caption Management, LLC | Reduced | $1.1m112.5k shares |
| CITADEL ADVISORS LLC | Reduced | $414.8k43.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $331.0k35.0k shares |
| JANE STREET GROUP, LLC | Reduced | $317.2k33.5k shares |
| GROUP ONE TRADING LLC | Reduced | $189.4k20.0k shares |
| Cubist Systematic Strategies, LLC | Reduced | $135.4k14.3k shares |
| Walleye Capital LLC | Reduced | $61.6k6.5k shares |
| Walleye Trading LLC | Reduced | $6.6k700 shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $1.2m125.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $284.1k30.0k shares |
| Walleye Capital LLC | New | $84.3k8.9k shares |
| Walleye Trading LLC | Reduced | $52.1k5.5k shares |
| GROUP ONE TRADING LLC | Reduced | $29.4k3.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $17.0k1.8k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $4.7k500 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 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 Q1 2025
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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q1 2025 | 9 | $1.2m | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-07 | Springstubb Brendan B Director | Bought | $139.1k15.0k shares |
| 2025-03-07 | Jelinek Richard M Director · By the Richard M Jelinek Revocable Trust | Bought | $137.4k15.0k shares |
| 2025-03-07 | Jelinek Richard M Director · By the Richard M Jelinek GST | Bought | $136.3k15.0k shares |
| 2025-03-07 | KECK KIM Director | Bought | $99.5k10.5k shares |
| 2025-03-06 | Blackley Seth Chief Executive Officer, director | Bought | $497.6k55.2k shares |
| 2025-03-06 | GRUA PETER J Director | Bought | $99.5k11.0k shares |
| 2025-03-06 | McCarthy Daniel Joseph PRESIDENT | Bought | $99.5k11.0k shares |
| 2025-03-06 | Glass Russell Monroe Director | Bought | $50.1k5.4k shares |
| 2025-03-06 | Holder Diane Director | Bought | $25.5k2.7k shares |
| 2025-03-06 | Barbarosh Craig A. Director | Bought | $17.6k2.0k shares |
| 2025-03-04 | Springstubb Brendan B Director | Bought | $43.8k5.0k 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, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 10.9m $103.6m | Reduced -233.0k |
| CADIAN CAPITAL MANAGEMENT, LP 4.37% of their portfolio | 10.8m $102.2m | Added +5.6m |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 10.2m $96.8m | Reduced -212.3k |
| BlackRock, Inc. 0.00% of their portfolio | 9.2m $87.4m | Reduced -94.2k |
| EVENTIDE ASSET MANAGEMENT, LLC 1.15% of their portfolio | 6.1m $57.6m | Added +1.5m |
| Engaged Capital LLC 12.50% of their portfolio | 5.2m $49.0m | Reduced -225.3k |
| MORGAN STANLEY 0.00% of their portfolio | 4.8m $45.3m | Added +4.2m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio | 4.4m $41.7m | Reduced -377.2k |
| FMR LLC 0.00% of their portfolio | 3.2m $30.4m | Reduced -1.3m |
| Camber Capital Management LP 1.77% of their portfolio | 3.0m $28.4m | Reduced -1.0m |
| STATE STREET CORP 0.00% of their portfolio | 2.9m $27.8m | Reduced -29.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 2.9m $27.7m | Reduced -266.1k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.8m $26.9m | Added +1.8m |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.8m $26.8m | Reduced -68.4k |
| Rock Springs Capital Management LP 1.46% of their portfolio | 2.7m $25.5m | Added +635.7k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.06% of their portfolio | 2.7m $25.2m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.6m $24.5m | Added +73.6k |
| UBS Group AG 0.01% of their portfolio | 2.5m $24.1m | Added +761.2k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 1.9m $17.8m | Added +1.3m |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.12% of their portfolio | 1.7m $16.4m | Added +358.4k |
| Point72 Asset Management, L.P. 0.04% of their portfolio | 1.5m $14.1m | Added +1.2m |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 1.5m $13.9m | Added +214.8k |
| Granahan Investment Management, LLC 0.64% of their portfolio | 1.4m $12.9m | Reduced -2.3m |
| Sea Cliff Partners Management, LP 4.25% of their portfolio | 1.3m $11.8m | Added +420.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.2m $11.4m | Added +8.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 1.2m $11.0m | Reduced -269.9k |
| GLENMEDE TRUST CO NA 0.06% of their portfolio | 1.1m $10.5m | Added +605.8k |
| BARCLAYS PLC 0.00% of their portfolio | 1.1m $10.3m | Added +168.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.0m $9.7m | Added +104.1k |
| FEDERATED HERMES, INC. 0.02% of their portfolio | 1.0m $9.6m | Added +559.8k |
| Rock Point Advisors, LLC 2.41% of their portfolio | 824.5k $7.8m | Added +225.4k |
| GABELLI FUNDS LLC 0.05% of their portfolio | 708.1k $6.7m | Added +9.3k |
| NORGES BANK 0.00% of their portfolio | 676.5k $6.4m | Reduced -436.4k |
| Nuveen, LLC 0.00% of their portfolio | 655.5k $6.2m | First filing |
| Rubicon Founders LLC 3.81% of their portfolio | 653.5k $6.2m | New |
| TUDOR INVESTMENT CORP ET AL 0.06% of their portfolio | 652.0k $6.2m | Added +325.7k |
| BLAIR WILLIAM & CO/IL 0.02% of their portfolio | 624.6k $5.9m | Reduced -1.0m |
| Bellevue Group AG 0.13% of their portfolio | 614.3k $5.8m | Reduced -499.3k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 598.8k $5.7m | Reduced -46.0k |
| First Light Asset Management, LLC 0.63% of their portfolio | 585.4k $5.5m | Added +531.8k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 574.6k $5.4m | Added +193.6k |
| ROYCE & ASSOCIATES LP 0.06% of their portfolio | 570.9k $5.4m | Reduced -5.3k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 545.9k $5.2m | New |
| One68 Global Capital, LLC 2.44% of their portfolio | 525.2k $5.0m | Added +164.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 523.0k $5.0m | Reduced -343.5k |
| Philosophy Capital Management LLC 0.66% of their portfolio | 521.2k $4.9m | Reduced -444.0k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 521.1k $4.9m | Added +17.5k |
| CITIGROUP INC 0.00% of their portfolio | 519.8k $4.9m | Added +168.6k |
| SALEM INVESTMENT COUNSELORS INC 0.14% of their portfolio | 413.6k $3.9m | Added +63.5k |
| Hudson Bay Capital Management LP 0.02% of their portfolio | 395.5k $3.7m | Reduced -617.7k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 381.5k $3.6m | Reduced -463.0k |
| BRIGHTON JONES LLC 0.11% of their portfolio | 349.2k $3.3m | Added +54 |
| Jefferies Financial Group Inc. 0.05% of their portfolio | 330.8k $3.1m | Added +75.8k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 289.8k $2.7m | Added +27.7k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 272.2k $2.6m | Added +41.2k |
| GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio | 247.5k $2.3m | Added +50.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.01% of their portfolio | 225.4k $2.1m | Added +154.8k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 198.6k $1.9m | Reduced -166.6k |
| Summit Creek Advisors LLC 0.27% of their portfolio | 196.3k $1.9m | Reduced -5.8k |
| Swiss National Bank 0.00% of their portfolio | 192.9k $1.8m | Unchanged |
| ALGERT GLOBAL LLC 0.04% of their portfolio | 191.6k $1.8m | New |
| CONGRESS ASSET MANAGEMENT CO 0.01% of their portfolio | 187.9k $1.8m | Reduced -36.4k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 169.9k $1.6m | Added +3.5k |
| Forest Hill Capital, LLC 1.20% of their portfolio | 169.8k $1.6m | Added +25.0k |
| Invesco Ltd. 0.00% of their portfolio | 168.5k $1.6m | Added +52.9k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 165.4k $1.6m | Reduced -20.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 154.3k $1.5m | Reduced -75.4k |
| MACQUARIE GROUP LTD 0.00% of their portfolio | 148.2k $1.4m | Reduced -3.4k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 131.6k $1.2m | Reduced -350.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 128.5k $1.2m | Added +3.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 127.1k $1.2m | Reduced -660 |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 126.0k $1.2m | Reduced -4.5k |
| Quinn Opportunity Partners LLC 0.08% of their portfolio | 120.0k $1.1m | Added +30.0k |
| Raiffeisen Bank International AG 0.02% of their portfolio | 120.0k $1.2m | Added +30.0k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 114.7k $1.1m | Added +708 |
| MOODY NATIONAL BANK TRUST DIVISION 0.11% of their portfolio | 114.1k $1.1m | Reduced -62.6k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 111.4k $1.0m | Added +54.2k |
| Legal & General Group Plc 0.00% of their portfolio | 109.1k $1.0m | Reduced -3.6k |
| HUSSMAN STRATEGIC ADVISORS, INC. 0.24% of their portfolio | 105.0k $994.4k | Added +42.0k |
| Sterling Capital Management LLC 0.01% of their portfolio | 100.2k $948.7k | Reduced -6.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 98.6k $934.0k | Reduced -645.8k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 98.1k $929.1k | Added +21.8k |
| Bryce Point Capital, LLC 0.66% of their portfolio | 94.5k $882.6k | New |
| SEI INVESTMENTS CO 0.00% of their portfolio | 94.3k $892.8k | Reduced -30.0k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 93.6k $886.6k | Unchanged |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 88.0k $833.4k | New |
| Bayesian Capital Management, LP 0.14% of their portfolio | 86.4k $818.6k | New |
| Mariner, LLC 0.00% of their portfolio | 85.4k $808.6k | New |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 83.8k $793.6k | Reduced -192.0k |
| Counterpoint Mutual Funds LLC 0.11% of their portfolio | 83.0k $786.2k | New |
| Creative Planning 0.00% of their portfolio | 74.9k $709.7k | Reduced -3.2k |
| NATIXIS 0.00% of their portfolio | 73.1k $691.5k | New |
| MetLife Investment Management, LLC 0.00% of their portfolio | 69.8k $661.3k | Reduced -1.1k |
| Allianz Asset Management GmbH 0.00% of their portfolio | 68.5k $649.1k | Added +22.5k |
| LMR Partners LLP 0.01% of their portfolio | 68.1k $645.3k | Unchanged |
| FORA Capital, LLC 0.07% of their portfolio | 67.7k $641.4k | Added +11.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 66.7k $631.9k | Reduced -2.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 62.8k $594.3k | Added +299 |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 62.7k $593.4k | Added +27.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 59.6k $564.8k | Added +1.7k |