Evolution Advisers, Inc.

CIK 0001906967 · Q1 2026

13F Equity AUM

$237K

-99.9% QoQ

Positions

150

-9 QoQ

AUM Rank

#12,214

Top 98%

Skill Alpha (FF)

-3.6%/yr^ns

No Clear Edge

Rank #6,730 · Top 82%

vs S&P -7.7%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 57.7%Top 10: 79.3%Top 20: 92.1%

VEA16.1%

VUG13.2%

VTV10.8%

BNDX9.1%

BSV8.4%

VWO6.1%

VMBS4.6%

BLV3.8%

VB3.6%

BIV3.6%

Others (140)20.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services96.9%

Other3.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 150Median: 0.03%Avg: 0.67%

0–0.5%

128(6.8%)

0.5–1%

6(3.7%)

1–3%

5(7.1%)

3–5%

5(18.8%)

5%+

6(63.7%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 148Unique: 2vs 20 funds

2%Low

150

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

2.8%

BANK OF AMERICA CORP /DE/

3.1%

4.7%

3.1%

2.5%

VANGUARD CAPITAL MANAGEMENT LLC

2.4%

GEODE CAPITAL MANAGEMENT, LLC

2.2%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New6Increased25Decreased27Exited14

New Positions

VUSB0.1%

+3K

AGG0.0%

+600

IEFA0.0%

+169

IWR0.0%

+233

IWB0.0%

+90

USHY0.0%

+186

Increased

GNW0.6%

+45K(+37%)

IAGG1.7%

+44K(+121%)

NUDM3.2%

+21K(+11%)

BSV8.4%

+20K(+9%)

VMBS4.6%

+15K(+7%)

NULV1.4%

+14K(+24%)

NULG1.6%

+11K(+33%)

SCHG0.1%

+9K(+343%)

BND0.6%

+9K(+86%)

NUEM1.1%

+8K(+12%)

Decreased

BNDX9.1%

-6,840(-1%)

SCHX0.6%

-3,126(-5%)

VEA16.1%

-3,094(-1%)

SCHZ0.1%

-1,174(-13%)

SCHA0.0%

-768(-27%)

SCHF0.1%

-768(-7%)

VTV10.8%

-735(-1%)

PWV0.7%

-504(-2%)

SCHE0.1%

-466(-9%)

VXUS0.3%

-351(-4%)

Exited

-73,840

-83

-374

-1,513

-659

-249

-420

-45

-130

-45

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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