Evolution Advisers, Inc.

CIK 0001906967 · Q2 2026

13F Equity AUM

$272K

+14.7% QoQ

Positions

203

+53 QoQ

AUM Rank

#12,329

Top 98%

Skill Alpha (FF)

-2.8%/yr^ns

No Clear Edge

Rank #6,718 · Top 81%

vs S&P -4.8%/yr (unadj.)

Quarters Tracked

~4 years

Portfolio Concentration

Top 5: 58.4%Top 10: 79.7%Top 20: 91.9%

VEA16.1%

VUG14.0%

VTV10.6%

BNDX9.8%

BSV7.7%

VWO6.2%

VMBS4.3%

BLV3.8%

VB3.8%

BIV3.4%

Others (193)20.3%

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

Sector Allocation

Financial Services97.3%

Other2.8%

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

Position Sizing

Positions: 203Median: 0.02%Avg: 0.49%

0–0.5%

183(8.1%)

0.5–1%

4(2.7%)

1–3%

5(6.5%)

3–5%

5(18.3%)

5%+

6(64.5%)

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

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Portfolio Overlap

Shared: 0Unique: 203vs 20 funds

0%Low

203

Fund positions

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.

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Position Changes This Quarter

New784Increased88Decreased12Exited4

New Positions

FNDF0.2%

+9K

SCHP0.1%

+10K

VGIT0.1%

+5K

SCHV0.1%

+6K

DSI0.1%

+1K

SCHC0.1%

+3K

VBR0.1%

+610

SUSA0.1%

+842

VCIT0.0%

+1K

AKRE0.0%

+2K

Increased

VUG14.0%

+371K(+517%)

BNDX9.8%

+102K(+23%)

SCHX1.1%

+48K(+86%)

BLV3.8%

+18K(+14%)

VEA16.1%

+18K(+3%)

BSV7.7%

+16K(+6%)

VMBS4.3%

+15K(+7%)

VWO6.2%

+14K(+5%)

BIV3.4%

+9K(+8%)

VUSB0.2%

+9K(+363%)

Decreased

IAGG0.2%

-68,974(-86%)

BND0.3%

-8,828(-47%)

NUBD1.0%

-1,282(-1%)

WMT0.1%

-1,084(-29%)

IJH0.0%

-530(-94%)

NUDM3.1%

-281(-0%)

MA0.0%

-95(-48%)

UNP0.2%

-85(-4%)

CRM0.0%

-47(-94%)

LMT0.0%

-45(-34%)

Exited

-4,941

-199

-2,245

-136

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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