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: 117.5m as of 2025-08-01, 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 ≈ $11.26. Options: 6 managers hold calls ($3.5m notional), 8 hold puts ($2.5m).
Trends to Q2 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 |
| Q2 2025 | 223 |
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 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 |
| Q2 2025 | 116 | 115 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $75.4m | $84.2m | 1.12 |
| Q4 2024 | $20.2m | $12.8m | 0.63 |
| Q1 2025 | $5.5m | $1.7m | 0.30 |
| Q2 2025 | $3.5m | $2.5m | 0.71 |
Biggest buyers
| Durable Capital Partners LP | New | +6.4m |
| Rubicon Founders LLC | Added | +5.2m |
| MORGAN STANLEY | Added | +3.3m |
| FMR LLC | Added | +3.2m |
| 8 KNOTS MANAGEMENT, LLC | New | +2.9m |
| MAVERICK CAPITAL LTD | New | +1.4m |
| Engaged Capital LLC | Added | +675.0k |
| JACOBS LEVY EQUITY MANAGEMENT, INC | New | +671.6k |
| Capitolis Liquid Global Markets LLC | New | +623.5k |
| Walleye Capital LLC | Added | +595.5k |
Biggest sellers
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -10.2m |
| Camber Capital Management LP | Reduced | -2.1m |
| EVENTIDE ASSET MANAGEMENT, LLC | Reduced | -2.0m |
| Point72 Asset Management, L.P. | Sold out | -1.5m |
| Granahan Investment Management, LLC | Sold out | -1.4m |
| FEDERATED HERMES, INC. | Reduced | -1.0m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -840.4k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Reduced | -739.0k |
| Bellevue Group AG | Sold out | -614.3k |
| One68 Global Capital, LLC | Sold out | -525.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.7m147.7k shares |
| Caption Management, LLC | Reduced | $1.3m112.4k shares |
| CITADEL ADVISORS LLC | Reduced | $353.6k31.4k shares |
| SIMPLEX TRADING, LLC | Reduced | $202.0k18.0k shares |
| GROUP ONE TRADING LLC | Reduced | $63.1k5.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.0m92.7k shares |
| JANE STREET GROUP, LLC | New | $614.8k54.6k shares |
| Caption Management, LLC | New | $360.3k32.0k shares |
| SIMPLEX TRADING, LLC | Added | $247.0k22.0k shares |
| Jefferies Financial Group Inc. | New | $180.2k16.0k shares |
| GROUP ONE TRADING LLC | Added | $76.6k6.8k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Unchanged | $5.6k500 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.00% of their portfolio | 10.9m $123.0m | Reduced -16.6k |
| CADIAN CAPITAL MANAGEMENT, LP 6.57% of their portfolio | 10.4m $117.4m | Reduced -369.9k |
| BlackRock, Inc. 0.00% of their portfolio | 9.4m $105.6m | Added +147.6k |
| MORGAN STANLEY 0.01% of their portfolio | 8.1m $90.7m | Added +3.3m |
| Durable Capital Partners LP 0.55% of their portfolio | 6.4m $72.3m | New |
| FMR LLC 0.00% of their portfolio | 6.4m $72.3m | Added +3.2m |
| Engaged Capital LLC 18.43% of their portfolio | 5.9m $65.9m | Added +675.0k |
| Rubicon Founders LLC 30.78% of their portfolio | 5.8m $65.5m | Added +5.2m |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio | 4.3m $48.7m | Reduced -79.1k |
| EVENTIDE ASSET MANAGEMENT, LLC 0.81% of their portfolio | 4.1m $46.0m | Reduced -2.0m |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 3.1m $34.9m | Added +266.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 3.1m $34.8m | Added +170.2k |
| STATE STREET CORP 0.00% of their portfolio | 3.0m $33.5m | Added +41.6k |
| 8 KNOTS MANAGEMENT, LLC 4.70% of their portfolio | 2.9m $32.8m | New |
| Rock Springs Capital Management LP 1.98% of their portfolio | 2.8m $31.8m | Added +125.0k |
| UBS Group AG 0.01% of their portfolio | 2.8m $31.7m | Added +269.5k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 2.8m $31.2m | Reduced -54.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 2.7m $30.0m | Added +80.2k |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 2.1m $23.7m | Added +225.4k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.04% of their portfolio | 1.9m $21.6m | Reduced -739.0k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.13% of their portfolio | 1.8m $20.1m | Added +51.4k |
| MAVERICK CAPITAL LTD 0.24% of their portfolio | 1.4m $15.7m | New |
| Sea Cliff Partners Management, LP 4.74% of their portfolio | 1.2m $13.9m | Reduced -16.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 1.2m $13.3m | Added +159.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 1.2m $13.1m | Reduced -2.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 1.1m $12.7m | Reduced -77.8k |
| BARCLAYS PLC 0.01% of their portfolio | 1.1m $12.7m | Added +41.5k |
| Glenmede Investment Management, LP 0.06% of their portfolio | 1.1m $12.1m | First filing |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.1m $11.9m | Added +484.2k |
| Camber Capital Management LP 1.33% of their portfolio | 850.0k $9.6m | Reduced -2.1m |
| Rock Point Advisors, LLC 2.70% of their portfolio | 850.0k $9.6m | Added +25.4k |
| Hudson Bay Capital Management LP 0.06% of their portfolio | 760.2k $8.6m | Added +364.7k |
| First Light Asset Management, LLC 1.08% of their portfolio | 738.5k $8.3m | Added +153.1k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.24% of their portfolio | 703.0k $7.9m | Added +182.0k |
| GABELLI FUNDS LLC 0.06% of their portfolio | 698.8k $7.9m | Reduced -9.3k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.03% of their portfolio | 671.6k $7.6m | New |
| ROYCE & ASSOCIATES LP 0.08% of their portfolio | 663.0k $7.5m | Added +92.1k |
| Walleye Capital LLC 0.07% of their portfolio | 647.8k $7.3m | Added +595.5k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 638.4k $7.2m | Added +39.5k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 629.8k $7.1m | Reduced -840.4k |
| Capitolis Liquid Global Markets LLC 0.05% of their portfolio | 623.5k $7.0m | New |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 586.9k $6.6m | Added +455.3k |
| Holocene Advisors, LP 0.01% of their portfolio | 527.9k $5.9m | New |
| Freestone Grove Partners LP 0.04% of their portfolio | 491.6k $5.5m | New |
| Jefferies Financial Group Inc. 0.09% of their portfolio | 479.9k $5.4m | Added +149.1k |
| BLAIR WILLIAM & CO/IL 0.01% of their portfolio | 444.3k $5.0m | Reduced -180.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 403.7k $4.5m | Added +178.3k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 399.4k $4.5m | Added +332.7k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 364.1k $4.1m | Reduced -181.8k |
| BRIGHTON JONES LLC 0.11% of their portfolio | 348.6k $3.9m | Reduced -588 |
| SALEM INVESTMENT COUNSELORS INC 0.12% of their portfolio | 333.9k $3.8m | Reduced -79.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 297.0k $3.3m | Added +7.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 288.5k $3.2m | Reduced -93.0k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 286.4k $3.2m | Added +14.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 280.7k $3.2m | Reduced -242.2k |
| Nuveen, LLC 0.00% of their portfolio | 258.7k $2.9m | Reduced -396.8k |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 251.2k $2.8m | Reduced -400.8k |
| GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio | 245.2k $2.8m | Reduced -2.3k |
| Edgestream Partners, L.P. 0.07% of their portfolio | 229.8k $2.6m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 222.8k $2.5m | Added +68.4k |
| Invesco Ltd. 0.00% of their portfolio | 221.3k $2.5m | Added +52.8k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 206.5k $2.3m | Added +7.9k |
| MACQUARIE GROUP LTD 0.00% of their portfolio | 196.0k $2.2m | Added +47.8k |
| ALGERT GLOBAL LLC 0.05% of their portfolio | 191.6k $2.2m | Unchanged |
| Swiss National Bank 0.00% of their portfolio | 189.3k $2.1m | Reduced -3.6k |
| CITIGROUP INC 0.00% of their portfolio | 188.2k $2.1m | Reduced -331.5k |
| CONGRESS ASSET MANAGEMENT CO 0.01% of their portfolio | 187.8k $2.1m | Reduced -140 |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 185.9k $2.1m | Added +15.9k |
| NORGES BANK 0.00% of their portfolio | 179.1k $2.0m | Reduced -497.4k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 156.8k $1.8m | Added +58.7k |
| Persistent Asset Partners Ltd 1.54% of their portfolio | 155.7k $1.8m | New |
| Verition Fund Management LLC 0.01% of their portfolio | 153.9k $1.7m | New |
| Forest Hill Capital, LLC 1.20% of their portfolio | 150.2k $1.7m | Reduced -19.5k |
| Raiffeisen Bank International AG 0.02% of their portfolio | 140.0k $1.5m | Added +20.0k |
| NORDEA INVESTMENT MANAGEMENT AB 0.00% of their portfolio | 130.1k $1.5m | Added +4.1k |
| Legal & General Group Plc 0.00% of their portfolio | 128.7k $1.4m | Added +19.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 127.1k $1.4m | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 123.7k $1.4m | Added +60.9k |
| Quinn Opportunity Partners LLC 0.12% of their portfolio | 120.0k $1.4m | Unchanged |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 113.7k $1.3m | Reduced -14.9k |
| Creative Planning 0.00% of their portfolio | 110.8k $1.2m | Added +35.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 105.8k $1.2m | Added +7.2k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 104.2k $1.2m | Added +9.9k |
| Sterling Capital Management LLC 0.02% of their portfolio | 102.3k $1.2m | Added +2.1k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.02% of their portfolio | 100.6k $1.1m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 92.5k $1.0m | Reduced -1.1k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 90.5k $1.0m | Reduced -75.0k |
| Mariner, LLC 0.00% of their portfolio | 81.7k $919.8k | Reduced -3.7k |
| DeepCurrents Investment Group LLC 0.03% of their portfolio | 79.3k $892.9k | Added +26.9k |
| Brevan Howard Capital Management LP 0.01% of their portfolio | 77.3k $870.5k | New |
| XTX Topco Ltd 0.04% of their portfolio | 76.9k $866.0k | Added +33.7k |
| NATIXIS 0.00% of their portfolio | 73.1k $823.1k | Unchanged |
| MetLife Investment Management, LLC 0.00% of their portfolio | 69.8k $786.3k | Unchanged |
| Walleye Trading LLC 0.02% of their portfolio | 65.8k $740.4k | Added +61.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 64.8k $730.0k | Reduced -10.2m |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 61.6k $693.7k | Reduced -53.1k |
| Bryce Point Capital, LLC 0.58% of their portfolio | 61.0k $687.4k | Reduced -33.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 58.8k $662.5k | Reduced -801 |
| Values First Advisors, Inc. 0.34% of their portfolio | 55.1k $620.3k | Added +8.6k |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 53.5k $602.7k | Reduced -3.6k |