Evolution Advisers, Inc.

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CIK 1906967

13F portfolio (2026-Q1)

$237M

Positions

160

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

150

Top 5

57.7%

Top 10

79.3%

Effective N

12.1

HHI

0.083

This quarter

6 new · 0 exit →

By sector

Unclassified95.6%

Financials1.4%

Information Technology0.9%

Industrials0.5%

Consumer Discretionary0.5%

Energy0.4%

Communication Services0.2%

Utilities0.2%

Other0.3%

By market cap

Unknown95.6%

Mega (>$200B)2.4%

Large ($10–200B)1.4%

Mid ($2–10B)0.6%

By region

Other95.6%

North America4.4%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	95.74%	73
Insurance	0.83%	6
Technology Hardware & Equipment	0.68%	6
Specialty Retail	0.42%	5
Oil, Gas & Consumable Fuels	0.40%	3
Banks	0.25%	5
Software & IT Services	0.25%	3
Utilities	0.23%	6
Road & Rail	0.21%	2
Machinery	0.12%	2
Commercial Services & Supplies	0.11%	4
Aerospace & Defense	0.11%	3
Software	0.08%	3
Pharmaceuticals & Biotechnology	0.07%	2
Paper & Forest Products	0.06%	1
Semiconductors & Semiconductor Equipment	0.06%	1
Capital Markets	0.06%	2
Chemicals	0.05%	3
Health Care Equipment & Supplies	0.04%	1
Beverages	0.03%	1
Food Products	0.03%	1
Construction & Engineering	0.03%	1
Airlines	0.02%	1
Electrical Equipment & Components	0.02%	2
Hotels, Restaurants & Leisure	0.01%	1
Automobiles & Components	0.01%	3
Textiles, Apparel & Luxury Goods	0.01%	1
Professional Services	0.01%	1
Diversified Telecommunication Services	0.01%	2
Tobacco	0.01%	1
Leisure Products	0.00%	1
Entertainment	0.00%	1
Equity Real Estate Investment Trusts (REITs)	0.00%	1
Health Care Providers & Services	0.00%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	VEA	VANGUARD TAX-MANAGED FDS	Unclassified	16.15%
2	VUG	VANGUARD INDEX FDS	Unclassified	13.20%
3	VTV	VANGUARD INDEX FDS	Unclassified	10.81%
4	BNDX	VANGUARD CHARLOTTE FDS	Unclassified	9.14%
5	BSV	VANGUARD BD INDEX FDS	Unclassified	8.36%
6	VWO	VANGUARD INTL EQUITY INDEX F	Unclassified	6.08%
7	VMBS	VANGUARD SCOTTSDALE FDS	Unclassified	4.60%
8	BLV	VANGUARD BD INDEX FDS	Unclassified	3.83%
9	VB	VANGUARD INDEX FDS	Unclassified	3.59%
10	BIV	VANGUARD BD INDEX FDS	Unclassified	3.58%

78/150 names classified · sector 4.4% of weight · industry 4.3% · mkt cap 4.4%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 18 quarters

FinancialsWFC, GNW, BRK.B, UBSI, UNH · other

Information TechnologyAAPL, MSFT, TMO, ADBE, AVGO · other

IndustrialsUNP, TDY, CW, LMT, J · other

Consumer DiscretionaryWMT, TSLA, HD, AMZN, LOW · other

EnergyXOM, PSX, CVX, CRC, BP · other

UtilitiesD, NI, CEG, EXC, NEE · other

MaterialsKMB, PG, CHD, NTR, LIN · other

Communication ServicesGOOGL, GOOG, DIS, VZ, META · other

Consumer StaplesMO, HSY, PEP, KO, TAP · other

Health CareHCA, JNJ, SYK, AMGN, PFE · other

Real EstateEXR, MFA, RITM, TWO, AMT · other

UnclassifiedVEA, VUG, VTV, BNDX, BSV · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 4.4% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 4% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (75 classified)Evolution Advisers, Inc. centroid (Mid Core)

FinancialsInformation TechnologyIndustrialsConsumer DiscretionaryEnergyCommunication ServicesUtilitiesHealth CareMaterialsConsumer StaplesReal Estate

Style box summary for Evolution Advisers, Inc.: centroid Mid Core. Heaviest cells: Large Growth 1.5%, Large Value 0.8%, Large Core 0.6%.

Classified: 4.2% of book weight (75/150 names) · unclassified 95.8%: VEA, VUG, VTV, BNDX, BSV, VWO, VMBS, BLV, VB, BIV +65 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 160 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	VEAVANGUARD TAX-MANAGED FDS	598,049	$38M	16.2%	HOLD
2	VUGVANGUARD INDEX FDS	71,719	$31M	13.2%	HOLD
3	VTVVANGUARD INDEX FDS	130,751	$26M	10.8%	HOLD
4	BNDXVANGUARD CHARLOTTE FDS	451,230	$22M	9.1%	HOLD
5	BSVVANGUARD BD INDEX FDS	252,921	$20M	8.4%	ADD 9%
6	VWOVANGUARD INTL EQUITY INDEX F	266,969	$14M	6.1%	HOLD
7	VMBSVANGUARD SCOTTSDALE FDS	232,230	$11M	4.6%	ADD 7%
8	BLVVANGUARD BD INDEX FDS	131,992	$9M	3.8%	ADD 3%
9	VBVANGUARD INDEX FDS	32,481	$9M	3.6%	HOLD
10	BIVVANGUARD BD INDEX FDS	109,929	$8M	3.6%	ADD 6%
11	NUDMNUSHARES ETF TR	208,516	$8M	3.2%	ADD 11%
12	IAGGISHARES TR	80,531	$4M	1.7%	ADD 121%
13	NULGNUSHARES ETF TR	42,337	$4M	1.6%	ADD 33%
14	NULVNUSHARES ETF TR	75,616	$3M	1.4%	ADD 24%
15	NUBDNUSHARES ETF TR	127,184	$3M	1.2%	ADD 3%
16	NUEMNUSHARES ETF TR	70,995	$3M	1.1%	ADD 12%
17	PWVINVESCO EXCHANGE TRADED FD T	23,796	$2M	0.7%	TRIM −2%
18	VOOVANGUARD INDEX FDS	2,495	$1M	0.6%	HOLD
19	SCHXSCHWAB U.S. LARGE-CAP ETF	55,773	$1M	0.6%	TRIM −5%
20	BNDVANGUARD BD INDEX FDS	18,746	$1M	0.6%	ADD 86%
21	AAPLAPPLE INC	5,399	$1M	0.6%	HOLD
22	GNWGENWORTH FINL INC	166,551	$1M	0.6%	ADD 37%
23	VTEBVANGUARD MUN BD FDS	19,577	$976,000	0.4%	ADD 13%
24	NUSCNUSHARES ETF TR	20,220	$911,000	0.4%	ADD 26%
25	XOMEXXON MOBIL CORP	4,941	$838,000	0.4%	HOLD
26	VXUSVANGUARD STAR FDS	8,524	$657,000	0.3%	TRIM −4%
27	DFACDIMENSIONAL ETF TRUST	16,680	$648,000	0.3%	HOLD
28	VOTVANGUARD INDEX FDS	2,389	$614,000	0.3%	HOLD
29	VVVANGUARD INDEX FDS	1,828	$546,000	0.2%	TRIM −12%
30	UNPUNION PAC CORP	2,042	$495,000	0.2%	HOLD
31	WMTWALMART INC	3,742	$465,000	0.2%	HOLD
32	BRK.BBERKSHIRE HATHAWAY INC DEL	905	$433,000	0.2%	HOLD
33	GOOGLALPHABET INC	1,352	$388,000	0.2%	HOLD
34	VOVANGUARD INDEX FDS	1,326	$380,000	0.2%	TRIM −5%
35	VCSHVANGUARD SCOTTSDALE FDS	4,454	$353,000	0.1%	TRIM −3%
36	WFCWELLS FARGO CO NEW	4,334	$345,000	0.1%	HOLD
37	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	11,589	$337,000	0.1%	ADD 343%
38	ORIOld Republic Nat'l. Corp.	7,682	$306,000	0.1%	HOLD
39	AMZNAMAZON COM INC	1,450	$301,000	0.1%	TRIM −4%
40	VTVANGUARD INTL EQUITY INDEX F	2,074	$286,000	0.1%	HOLD
41	NINISOURCE INC	5,932	$276,000	0.1%	HOLD
42	SCHFSCHWAB STRATEGIC TR	10,794	$267,000	0.1%	TRIM −7%
43	CWCURTISS WRIGHT CORP	350	$238,000	0.1%	HOLD
44	VYMVANGUARD WHITEHALL FDS	1,569	$232,000	0.1%	TRIM −6%
45	VTIVANGUARD INDEX FDS	40,329	$195,000	0.1%	ADD 3%
46	JPMJPMORGAN CHASE & CO	651	$191,000	0.1%	HOLD
47	SCHZSCHWAB STRATEGIC TR	7,636	$177,000	0.1%	TRIM −13%
48	GOOGALPHABET INC	600	$172,000	0.1%	HOLD
49	SCHESCHWAB STRATEGIC TR	4,908	$161,000	0.1%	TRIM −9%
50	KMBKIMBERLY-CLARK CORP	1,567	$151,000	0.1%	HOLD
51	TDYTELEDYNE TECHNOLOGIES INC	250	$151,000	0.1%	HOLD
52	MKLMARKEL GROUP INC	78	$149,000	0.1%	HOLD
53	AVGOBROADCOM INC	450	$139,000	0.1%	HOLD
54	SCHMSCHWAB STRATEGIC TR	4,191	$129,000	0.1%	HOLD
55	VUSBVANGUARD BD INDEX FDS	2,515	$125,000	0.1%	NEW
56	VEUVANGUARD INTL EQUITY INDEX F	1,649	$123,000	0.1%	HOLD
57	LOWLOWES COS INC	518	$122,000	0.1%	HOLD
58	DDOMINION ENERGY INC	1,967	$121,000	0.1%	HOLD
59	MSFTMICROSOFT CORP	326	$120,000	0.1%	HOLD
60	SPYSTATE STR SPDR S&P 500 ETF T	179	$116,000	0.0%	HOLD
61	VVISA INC	381	$115,000	0.0%	HOLD
62	CSCOCISCO SYS INC	1,449	$112,000	0.0%	HOLD
63	VXFVANGUARD INDEX FDS	498	$102,000	0.0%	HOLD
64	JNJJOHNSON & JOHNSON	403	$98,000	0.0%	HOLD
65	MAMASTERCARD INCORPORATED	197	$98,000	0.0%	HOLD
66	SYKSTRYKER CORPORATION	300	$98,000	0.0%	HOLD
67	HDHOME DEPOT INC	260	$85,000	0.0%	HOLD
68	IVVISHARES TR	128	$83,000	0.0%	ADD 28%
69	PEPPEPSICO INC	526	$81,000	0.0%	HOLD
70	HSYHERSHEY CO	381	$79,000	0.0%	HOLD
71	LMTLOCKHEED MARTIN CORP	132	$79,000	0.0%	HOLD
72	TMOTHERMO FISHER SCIENTIFIC INC	160	$78,000	0.0%	HOLD
73	DFAUDIMENSIONAL ETF TRUST	1,699	$76,000	0.0%	HOLD
74	JJACOBS SOLUTIONS INC	600	$76,000	0.0%	HOLD
75	BNDWVANGUARD SCOTTSDALE FDS	1,100	$75,000	0.0%	HOLD
76	AMGNAMGEN INC	200	$70,000	0.0%	HOLD
77	ELVELEVANCE HEALTH INC FORMERLY	236	$69,000	0.0%	HOLD
78	SEICSEI INVTS CO	873	$68,000	0.0%	HOLD
79	KNSLKINSALE CAP GROUP INC	199	$67,000	0.0%	HOLD
80	PSXPHILLIPS 66	373	$67,000	0.0%	HOLD
81	HYBXTCW ETF TRUST	2,245	$66,000	0.0%	HOLD
82	NTRNUTRIEN LTD	867	$65,000	0.0%	HOLD
83	TROWPRICE T ROWE GROUP INC	728	$65,000	0.0%	HOLD
84	CEGCONSTELLATION ENERGY CORP	232	$64,000	0.0%	HOLD
85	ESGDISHARES TR	650	$62,000	0.0%	HOLD
86	SCHASCHWAB STRATEGIC TR	2,096	$60,000	0.0%	TRIM −27%
87	AGGISHARES TR	600	$59,000	0.0%	NEW
88	IJRISHARES TR	464	$57,000	0.0%	ADD 5%
89	ORCLORACLE CORP	380	$55,000	0.0%	HOLD
90	COFCAPITAL ONE FINL CORP	282	$51,000	0.0%	ADD 22%
91	DALDELTA AIR LINES INC	759	$50,000	0.0%	HOLD
92	FIWFIRST TR EXCHANGE-TRADED FD	456	$47,000	0.0%	HOLD
93	PPLPPL CORP	1,223	$46,000	0.0%	HOLD
94	ETNEATON CORP PLC	126	$45,000	0.0%	HOLD
95	CVXCHEVRON CORP NEW	205	$42,000	0.0%	ADD 105%
96	IJHISHARES TR	565	$38,000	0.0%	HOLD
97	ACNACCENTURE PLC IRELAND	192	$38,000	0.0%	HOLD
98	EXCEXELON CORP	760	$37,000	0.0%	HOLD
99	IYFISHARES TR	319	$37,000	0.0%	HOLD
100	ADPAUTOMATIC DATA PROCESSING IN	176	$35,000	0.0%	HOLD
101	PPAINVESCO EXCHANGE TRADED FD T	206	$34,000	0.0%	HOLD
102	SBUXSTARBUCKS CORP	383	$34,000	0.0%	HOLD
103	LINLINDE PLC	69	$34,000	0.0%	TRIM −13%
104	MDYSPDR S&P MIDCAP 400 ETF TR	54	$33,000	0.0%	HOLD
105	IWBISHARES TR	90	$32,000	0.0%	NEW
106	FTNTFORTINET INC	390	$31,000	0.0%	HOLD
107	CTASCINTAS CORP	180	$30,000	0.0%	HOLD
108	HONHONEYWELL INTL INC	136	$30,000	0.0%	HOLD
109	GEGE AEROSPACE	94	$26,000	0.0%	HOLD
110	CHDCHURCH & DWIGHT CO INC	278	$25,000	0.0%	HOLD
111	PAYXPAYCHEX INC	275	$25,000	0.0%	HOLD
112	IBMINTERNATIONAL BUSINESS MACHS	100	$24,000	0.0%	HOLD
113	WSMWILLIAMS SONOMA INC	132	$24,000	0.0%	HOLD
114	IWRISHARES TR	233	$22,000	0.0%	NEW
115	IYWISHARES TR	124	$22,000	0.0%	TRIM −13%
116	ESGVVanguard ESG US Stock - ETF	199	$22,000	0.0%	HOLD
117	GEVGE VERNOVA INC	23	$20,000	0.0%	HOLD
118	IEMGISHARES INC	300	$20,000	0.0%	HOLD
119	UNHUNITEDHEALTH GROUP INC	75	$20,000	0.0%	HOLD
120	MOALTRIA GROUP INC	274	$18,000	0.0%	HOLD
121	AMTMAMENTUM HOLDINGS INC	636	$16,000	0.0%	HOLD
122	SCHBSCHWAB STRATEGIC TR	657	$16,000	0.0%	HOLD
123	VBILVANGUARD INSTL INDEX FD	220	$16,000	0.0%	HOLD
124	IWDISHARES TR	71	$15,000	0.0%	HOLD
125	IEFAISHARES TR	169	$15,000	0.0%	NEW
126	RIVNRIVIAN AUTOMOTIVE INC	1,006	$15,000	0.0%	HOLD
127	TAT&T INC	494	$14,000	0.0%	HOLD
128	QQQINVESCO QQQ TR	22	$12,000	0.0%	TRIM −12%
129	TSLATESLA INC	27	$10,000	0.0%	HOLD
130	GOLFACUSHNET HLDGS CORP	103	$9,000	0.0%	HOLD
131	DHRDANAHER CORP DEL	50	$9,000	0.0%	HOLD
132	DISDISNEY WALT CO	100	$9,000	0.0%	HOLD
133	METVLISTED FDS TR	600	$9,000	0.0%	HOLD
134	CRMSALESFORCE INC	50	$9,000	0.0%	HOLD
135	FFORD MTR CO	700	$8,000	0.0%	HOLD
136	UPSUNITED PARCEL SERVICE INC	79	$7,000	0.0%	HOLD
137	VZVERIZON COMMUNICATIONS INC	157	$7,000	0.0%	HOLD
138	BACBANK AMERICA CORP	125	$6,000	0.0%	HOLD
139	EXREXTRA SPACE STORAGE INC	50	$6,000	0.0%	HOLD
140	USHYISHARES TR	186	$6,000	0.0%	NEW
141	ARCCARES CAPITAL CORP	318	$5,000	0.0%	HOLD
142	HCAHCA HEALTHCARE INC	11	$5,000	0.0%	HOLD
143	SYFSYNCHRONY FINANCIAL	74	$5,000	0.0%	HOLD
144	AWKAMERICAN WTR WKS CO INC NEW	16	$2,000	0.0%	HOLD
145	GSLCGOLDMAN SACHS ETF TR	17	$2,000	0.0%	HOLD
146	IOOIShares S&P Global 100 Index ETF	19	$2,000	0.0%	HOLD
147	CGCPCAPITAL GRP FIXED INCM ETF T	80	$1,000	0.0%	HOLD
148	SPGPInvesco S&P 500 GARP - ETF	18	$1,000	0.0%	HOLD
149	IQLTISHARES TR	22	$1,000	0.0%	HOLD
150	VNQVANGUARD INDEX FDS	20	$1,000	0.0%	TRIM −83%
151	KOCOCA COLA CO	2	$0	0.0%	HOLD
152	NFLTETFIS SER TR I	17	$0	0.0%	HOLD
153	FBNDFIDELITY TOTAL BOND ETF	17	$0	0.0%	HOLD
154	DIVIFRANKLIN TEMPLETON ETF TR	2	$0	0.0%	HOLD
155	IDRVISHARES TR	5	$0	0.0%	HOLD
156	MSMORGAN STANLEY	2	$0	0.0%	HOLD
157	NKENIKE INC	2	$0	0.0%	HOLD
158	SPMDSPDR SERIES TRUST	15	$0	0.0%	HOLD
159	VWOBVANGUARD WHITEHALL FDS	15	$0	0.0%	HOLD
160	WBDWARNER BROS DISCOVERY INC	79	$0	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

VEAVANGUARD TAX-MANAGED FDS

546K

569K

556K

587K

601K

598K

$38M

VUGVANGUARD INDEX FDS

68K

74K

67K

69K

71K

72K

$31M

VTVVANGUARD INDEX FDS

125K

133K

126K

128K

131K

$26M

BNDXVANGUARD CHARLOTTE FDS

420K

432K

444K

468K

458K

451K

$22M

BSVVANGUARD BD INDEX FDS

192K

203K

207K

222K

233K

253K

$20M

VWOVANGUARD INTL EQUITY INDEX F

238K

251K

246K

253K

264K

267K

$14M

VMBSVANGUARD SCOTTSDALE FDS

167K

198K

199K

209K

217K

232K

$11M

BLVVANGUARD BD INDEX FDS

96K

120K

122K

130K

128K

132K

$9M

VBVANGUARD INDEX FDS

27K

30K

29K

31K

32K

$9M

BIVVANGUARD BD INDEX FDS

75K

84K

88K

99K

104K

110K

$8M

NUDMNUSHARES ETF TR

143K

182K

183K

182K

188K

209K

$8M

IAGGISHARES TR

822

36K

81K

$4M

NULGNUSHARES ETF TR

32K

42K

$4M

NULVNUSHARES ETF TR

56K

61K

76K

$3M

NUBDNUSHARES ETF TR

71K

116K

121K

124K

127K

$3M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Evolution Advisers, Inc.