Managers / Q4 2025 · view latest →
Evolution Advisers, Inc.
CIK 0001906967 · 2917 WEST LEIGH STREET, RICHMOND, VA, 23230 · 804-794-1981
Reported Value
$231M
Q4 2025
Positions
170
Filings on Record
18
2019–present window
Filed
Jan 23, 2026
original filing
Summary
Evolution Advisers, Inc. reported $231M in U.S.-listed holdings across 170 positions for Q4 2025.
The portfolio is heavily concentrated: VUG alone accounts for 31.0% of reported value.
Compared with Q2 2025, the fund opened 20 new positions and exited 6.
Portfolio Metrics
Turnover
+0.6%
vs prior filed quarter
Top-10 Concentration
+94.1%
share of reported value
Largest Position
+31.0%
Vanguard Index Fds
New / Exited
20 / 6
positions this quarter
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
13F Reported Value
Portfolio Composition
By security type
- ETP · 95.5% · $220M
- Common Stock · 4.5% · $10M
- REIT · 0.0% · $6,000
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline) · note: prior filed quarter, not the immediately preceding one
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| HYBXTCW ETF TRUST | NEW | +2.2K | 2.2K | +$67,000 | $67,000 |
| ISHARES TR | NEW | +374 | 374 | +$41,000 | $41,000 |
| EA SERIES TRUST | NEW | +1.5K | 1.5K | +$41,000 | $41,000 |
| IYFISHARES TR | NEW | +319 | 319 | +$41,000 | $41,000 |
| LINLINDE PLC | NEW | +79 | 79 | +$33,000 | $33,000 |
| VGTVANGUARD WORLD FD | NEW | +45 | 45 | +$33,000 | $33,000 |
| PPAINVESCO EXCHANGE TRADED FD T | NEW | +206 | 206 | +$32,000 | $32,000 |
| DFIVDIMENSIONAL ETF TRUST | NEW | +659 | 659 | +$32,000 | $32,000 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
118 positions
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | VUGVANGUARD INDEX FDS | GROWTH ETF · VALUE ETF · SMALL CP ETF · S&P 500 ETF SHS · MCAP GR IDXVIP · LARGE CAP ETF · MID CAP ETF · TOTAL STK MKT · EXTEND MKT ETF · REAL ESTATE ETF | 31.00% | $72M | 282.5K |
| 2 | VEAVANGUARD TAX-MANAGED FDShistory → | VAN FTSE DEV MKT | 16.26% | $38M | 601.1K |
| 3 | BSVVANGUARD BD INDEX FDS | SHORT TRM BOND · LONG TERM BOND · INTERMED TERM · TOTAL BND MRKT | 15.63% | $36M | 474.9K |
| 4 | BNDXVANGUARD CHARLOTTE FDShistory → | TOTAL INT BD ETF | 9.58% | $22M | 458.1K |
| 5 | NULGNUSHARES ETF TR | NUVEEN ESG INTL · NUVEEN ESG LRGCP · NUVEEN ESG US · NUVEEN ESG LRGVL · NUVEEN ESG EMRGN · NUVEEN ESG SMLCP | 7.96% | $18M | 483.8K |
| 6 | VWOVANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF · TT WRLD ST ETF · ALLWRLD EX US · GLB EX US ETF | 6.32% | $15M | 267.7K |
| 7 | VMBSVANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF · SHRT TRM CORP BD · TOTAL WLD BD ETF | 4.61% | $11M | 222.7K |
| 8 | SCHXSCHWAB STRATEGIC TR | US LRG CAP ETF · INTL EQTY ETF · US AGGREGATE B · EMRG MKTEQ ETF · US MID-CAP ETF · US LCAP GR ETF · US SML CAP ETF · US BRD MKT ETF · US LCAP VA ETF · US REIT ETF | 1.11% | $3M | 95.9K |
| 9 | IAGGISHARES TR | CORE INTL AGGR · CORE S&P500 ETF · ESG AW MSCI EAFE · CORE S&P SCP ETF · IBOXX INV CP ETF · U.S. FINLS ETF · CORE S&P MCP ETF · U.S. TECH ETF · RUS 1000 VAL ETF · MRNING SM CP ETF · GLOBAL 100 ETF · MSCI INTL QUALTY · SELF DRIVNG EV | 0.94% | $2M | 39.3K |
| 10 | PWVINVESCO EXCHANGE TRADED FD T | LARGE CAP VALUE · AEROSPACE DEFN · S&P 500 GARP ETF | 0.71% | $2M | 24.5K |
| 11 | AAPLAPPLE INC | COM | 0.64% | $1M | 5.4K |
| 12 | GNWGENWORTH FINL INC | COM SHS | 0.48% | $1M | 121.8K |
| 13 | VTEBVANGUARD MUN BD FDS | TAX EXEMPT BD | 0.38% | $869,000 | 17.3K |
| 14 | DFACDIMENSIONAL ETF TRUST | US CORE EQUITY 2 · US CORE EQT MKT · INTERNATNAL VAL · US SMALL CAP VAL | 0.34% | $780,000 | 19.3K |
| 15 | VXUSVANGUARD STAR FDS | VG TL INTL STK F | 0.29% | $669,000 | 8.9K |
| 16 | GOOGLALPHABET INC | CAP STK CL A · CAP STK CL C | 0.27% | $613,000 | 2.0K |
| 17 | EXMOCEXXON MOBIL CORP | COM | 0.26% | $596,000 | 5.0K |
| 18 | UNPUNION PAC CORP | COM | 0.20% | $472,000 | 2.0K |
| 19 | BRK/BBERKSHIRE HATHAWAY INC DEL | CL B NEW | 0.20% | $454,000 | 905 |
| 20 | WMTWALMART INC | COM | 0.18% | $421,000 | 3.8K |
| 21 | WFCWELLS FARGO CO NEW | COM | 0.17% | $403,000 | 4.3K |
| 22 | ORIOLD REP INTL CORP | COM | 0.15% | $350,000 | 7.7K |
| 23 | AMZNAMAZON COM INC | COM | 0.15% | $349,000 | 1.5K |
| 24 | NINISOURCE INC | COM | 0.11% | $247,000 | 5.9K |
| 25 | VYMVANGUARD WHITEHALL FDS | HIGH DIV YLD · EM MK GOV BD ETF | 0.10% | $241,000 | 1.7K |
| 26 | JPMJPMORGAN CHASE & CO. | COM | 0.09% | $209,000 | 651 |
| 27 | CWCURTISS WRIGHT CORP | COM | 0.08% | $192,000 | 350 |
| 28 | MKLMARKEL GROUP INC | COM | 0.07% | $166,000 | 77 |
| 29 | KMBKIMBERLY-CLARK CORP | COM | 0.07% | $160,000 | 1.6K |
| 30 | MSFTMICROSOFT CORP | COM | 0.07% | $157,000 | 326 |
| 31 | AVGOBROADCOM INC | COM | 0.07% | $155,000 | 450 |
| 32 | VVISA INC | COM CL A | 0.06% | $133,000 | 381 |
| 33 | TDYTELEDYNE TECHNOLOGIES INC | COM | 0.05% | $127,000 | 250 |
| 34 | LOWLOWES COS INC | COM | 0.05% | $126,000 | 522 |
| 35 | SPYSPDR S&P 500 ETF TR | TR UNIT | 0.05% | $122,000 | 179 |
| 36 | DDOMINION ENERGY INC | COM | 0.05% | $115,000 | 2.0K |
| 37 | MAMASTERCARD INCORPORATED | CL A | 0.05% | $112,000 | 197 |
| 38 | CSCOCISCO SYS INC | COM | 0.05% | $111,000 | 1.4K |
| 39 | SYKSTRYKER CORPORATION | COM | 0.05% | $105,000 | 300 |
| 40 | TMOTHERMO FISHER SCIENTIFIC INC | COM | 0.04% | $92,000 | 160 |
| 41 | HDHOME DEPOT INC | COM | 0.04% | $89,000 | 260 |
| 42 | JNJJOHNSON & JOHNSON | COM | 0.04% | $83,000 | 403 |
| 43 | ELVELEVANCE HEALTH INC | COM | 0.04% | $82,000 | 236 |
| 44 | CEGCONSTELLATION ENERGY CORP | COM | 0.04% | $82,000 | 232 |
| 45 | JJACOBS SOLUTIONS INC | COM | 0.03% | $79,000 | 600 |
| 46 | KNSLKINSALE CAP GROUP INC | COM | 0.03% | $77,000 | 199 |
| 47 | PEPPEPSICO INC | COM | 0.03% | $76,000 | 526 |
| 48 | TROWPRICE T ROWE GROUP INC | COM | 0.03% | $74,000 | 728 |
| 49 | ORCLORACLE CORP | COM | 0.03% | $74,000 | 380 |
| 50 | TFCTRUIST FINL CORP | COM | 0.03% | $73,000 | 73.8K |
| 51 | SEICSEI INVTS CO | COM | 0.03% | $71,000 | 873 |
| 52 | HSYHERSHEY CO | COM | 0.03% | $69,000 | 381 |
| 53 | MCKMCKESSON CORP | COM | 0.03% | $68,000 | 83 |
| 54 | HYBXTCW ETF TRUST | HIGH YIELD BOND | 0.03% | $67,000 | 2.2K |
| 55 | AMGNAMGEN INC | COM | 0.03% | $65,000 | 200 |
| 56 | LMTLOCKHEED MARTIN CORP | COM | 0.03% | $63,000 | 132 |
| 57 | VGTVANGUARD WORLD FD | INF TECH ETF · ESG US STK ETF | 0.02% | $57,000 | 244 |
| 58 | COFCAPITAL ONE FINL CORP | COM | 0.02% | $56,000 | 232 |
| 59 | NTRNUTRIEN LTD | COM | 0.02% | $53,000 | 867 |
| 60 | DALDELTA AIR LINES INC DEL | COM NEW | 0.02% | $52,000 | 759 |
| 61 | ACNACCENTURE PLC IRELAND | SHS CLASS A | 0.02% | $51,000 | 192 |
| 62 | FIWFIRST TR EXCHANGE-TRADED FD | WTR ETF | 0.02% | $49,000 | 456 |
| 63 | PSXPHILLIPS 66 | COM | 0.02% | $48,000 | 373 |
| 64 | ADPAUTOMATIC DATA PROCESSING IN | COM | 0.02% | $45,000 | 176 |
| 65 | PPLPPL CORP | COM | 0.02% | $42,000 | 1.2K |
| 66 | EA SERIES TRUST | STANCE SUSTAINAB | 0.02% | $41,000 | 1.5K |
| 67 | ETNEATON CORP PLC | SHS | 0.02% | $40,000 | 126 |
| 68 | CTASCINTAS CORP | COM | 0.01% | $33,000 | 180 |
| 69 | LINLINDE PLC | SHS | 0.01% | $33,000 | 79 |
| 70 | EXCEXELON CORP | COM | 0.01% | $33,000 | 760 |
| 71 | SBUXSTARBUCKS CORP | COM | 0.01% | $32,000 | 383 |
| 72 | MDYSPDR S&P MIDCAP 400 ETF TR | UTSER1 S&PDCRP | 0.01% | $32,000 | 54 |
| 73 | FTNTFORTINET INC | COM | 0.01% | $30,000 | 390 |
| 74 | PAYXPAYCHEX INC | COM | 0.01% | $30,000 | 275 |
| 75 | IBMINTERNATIONAL BUSINESS MACHS | COM | 0.01% | $29,000 | 100 |
| 76 | GE AEROSPACE | COM NEW | 0.01% | $29,000 | 95 |
| 77 | HONHONEYWELL INTL INC | COM | 0.01% | $26,000 | 136 |
| 78 | SPMDSPDR SERIES TRUST | BLOOMBERG HIGH Y · PORTFOLIO S&P400 | 0.01% | $24,000 | 264 |
| 79 | UNHUNITEDHEALTH GROUP INC | COM | 0.01% | $24,000 | 75 |
| 80 | WSMWILLIAMS SONOMA INC | COM | 0.01% | $23,000 | 132 |
| 81 | CHDCHURCH & DWIGHT CO INC | COM | 0.01% | $23,000 | 278 |
| 82 | IEMGISHARES INC | CORE MSCI EMKT | 0.01% | $20,000 | 300 |
| 83 | RIVNRIVIAN AUTOMOTIVE INC | COM CL A | 0.01% | $19,000 | 1.0K |
| 84 | AMTMAMENTUM HOLDINGS INC | COM | 0.01% | $18,000 | 636 |
| 85 | VBILVANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 0.01% | $16,000 | 220 |
| 86 | CVXCHEVRON CORP NEW | COM | 0.01% | $15,000 | 100 |
| 87 | MOALTRIA GROUP INC | COM | 0.01% | $15,000 | 274 |
| 88 | QQQINVESCO QQQ TR | UNIT SER 1 | 0.01% | $15,000 | 25 |
| 89 | GEVGE VERNOVA INC | COM | 0.01% | $15,000 | 23 |
| 90 | CRMSALESFORCE INC | COM | 0.01% | $13,000 | 50 |
| 91 | TAT&T INC | COM | 0.01% | $12,000 | 494 |
| 92 | TSLATESLA INC | COM | 0.01% | $12,000 | 27 |
| 93 | DHRDANAHER CORPORATION | COM | 0.00% | $11,000 | 50 |
| 94 | LISTED FDS TR | ROUNDHILL BALL | 0.00% | $11,000 | 600 |
| 95 | GLDSPDR GOLD TR | GOLD SHS | 0.00% | $11,000 | 28 |
| 96 | DISDISNEY WALT CO | COM | 0.00% | $11,000 | 100 |
| 97 | FFORD MTR CO | COM | 0.00% | $9,000 | 700 |
| 98 | GOLFACUSHNET HLDGS CORP | COM | 0.00% | $8,000 | 103 |
| 99 | UPSUNITED PARCEL SERVICE INC | CL B | 0.00% | $7,000 | 79 |
| 100 | VZVERIZON COMMUNICATIONS INC | COM | 0.00% | $6,000 | 157 |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $237M | 162 | May 1, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $231M | 170 | Jan 23, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $204M | 156 | Jul 25, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $190M | 161 | May 9, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $183M | 184 | Jan 29, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $184M | 196 | Oct 18, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $174M | 190 | Jul 26, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $169M | 185 | May 3, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $157M | 221 | Feb 2, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $138M | 142 | Oct 20, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $142M | 167 | Jul 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $139M | 159 | May 5, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $128M | 151 | Jan 30, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $115M | 149 | Nov 1, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $122M | 150 | Jul 22, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $135M | 144 | May 4, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $136M | 148 | Feb 9, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.