Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Evolent Health Inc (EVH)

188 + Investors. Track Smart Money conviction in EVH. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -22
Streak
2Q ▼
Buyers last Q
46%

Smart Money Signals — EVH

Based on 189 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds reduced or closed their EVH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 72% of 3.0Y peak

72% of all-time peak
189 funds currently hold this stock — 72% of the 3.0-year high of 262 funds (reached 2024 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 15% fewer funds vs a year ago

fund count last 6Q
33 fewer hedge funds hold EVH compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 46% buying

104 buying122 selling
Last quarter: 122 funds reduced or exited vs 104 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~43 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 37 → 54 → 38 → 43. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

56% of holders stayed for 2+ years

■ 56% conviction (2yr+) ■ 25% medium ■ 19% new
106 out of 189 hedge funds have held EVH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎

Buying through price weakness — shares -9%, value -48%

Value
-48%
Shares
-9%
Last quarter: funds added -9% more shares while total portfolio value only changed -48%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️

Steady discovery — ~43 new funds/quarter

40 → 37 → 54 → 38 → 43 new funds/Q
New funds entering each quarter: 37 → 54 → 38 → 43. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 66% veterans vs 20% newcomers

■ 66% veterans ■ 14% 1-2yr ■ 20% new
Entry-cohort mix of 194 holders: 129 (66%) are 2+ year veterans, 27 entered 1–2 years ago, and 38 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅

Strong quality — 38% AUM from major funds

38% from top-100 AUM funds
37 of 188 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
2.3
out of 10
Low Exit Risk
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — EVH

In 2026 Q1, 104 hedge funds were net buyers of EVH (43 opened a new position, 61 added to an existing one), while 122 reduced or exited (57 trimmed, 65 sold completely) — a 46% buyer ratio, indicating roughly balanced activity. Net selling has persisted for two consecutive quarters. 38% of total institutional value in EVH is held by top-100 AUM funds, reflecting strong institutional quality. Net fund flow last quarter: -22 funds (more exits than new entries). Total institutional holders: 189.

Hedge Fund Ownership: EVH

How many hedge funds hold EVH — quarterly history vs. share price
Quarterly hedge fund ownership of EVH vs. share price

Market Analysis: EVH

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: EVH

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Evolent Health Inc (EVH) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much EVH has moved relative to its sector benchmark (XLV) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 87d ago
EVH
+126.1%
XLV
+9.1%

EVH outperformed XLV by +117.0% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 42d ago
EVH
+30.2%
XLV
+10.3%

Since the filing became public, EVH outperformed XLV by +19.9% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

17 top-rated funds 2 high-conviction
Consensus
5.5
/ 10
breadth
×
Elite
1.9
/ 10
conviction
Hedge Fund Positioning: EVH
188 + Investors

Track Smart Money conviction in EVH. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 188 211 -10.9%
13F Shares 111M 121M -8.97%
Total Value $252M $485M -48.16%
New Positions 42 38 +4
Increased Positions 56 82 -26
Closed Positions 65 62 +3
Reduced Positions 58 63 -5
Total Calls 3 6 -50.0%
Total Puts 3 5 -40.0%
PUT/CALL Ratio 1.0 0.83 Neutral

Statistics: EVH

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Valuation Measures Data as of: --

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PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
Return on Assets (ttm) --
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Income Statement & Cash Flow
Revenue (ttm) --
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Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
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Institutional Holders (2026 Q1)

188 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in EVH. Verified SEC 13F-HR filings.

QUARTER:
Top 25 EVH holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Rubicon Founders LLC 9.64% 5,816,123 $13.3M
2 Engaged Capital LLC 4.18% 5,563,912 $12.7M
3 Cadian Capital Management, LP 3.00% 10,814,473 $24.7M
4 Tejara Capital Ltd 1.46% 1,946,650 $4.4M
5 Rock Point Advisors, LLC 1.10% 1,786,681 $4.1M
6 Rock Springs Capital Management LP 0.36% 2,675,000 $6.1M
7 Formula Growth Ltd 0.22% 215,000 $490K
8 One68 Global Capital, LLC 0.16% 21,514 $49K
9 Eventide Asset Management, LLC 0.10% 2,547,558 $5.8M
10 Tempus Wealth Planning, LLC 0.08% 159,470 $364K
11 Kennedy Capital Management LLC 0.08% 1,597,615 $3.6M
12 Maverick Capital Ltd 0.07% 2,572,763 $5.9M
13 Atom Investors LP 0.05% 302,406 $689K
14 Ironwood Investment Management LLC 0.04% 44,435 $101K
15 Voleon Capital Management LP 0.04% 849,290 $1.9M
16 Odyssean, LLC 0.04% 49,913 $114K
17 State of Wyoming 0.03% 121,751 $278K
18 Williams & Novak, LLC 0.03% 17,130 $38K
19 Quantbot Technologies LP 0.03% 270,538 $617K
20 Caitong International Asset Management Co., Ltd 0.02% 51,499 $117K
21 AlphaQuest LLC 0.02% 74,838 $299K
22 Axq Capital, LP 0.02% 54,605 $124K
23 BlueCrest Capital Management Ltd 0.01% 106,300 $242K
24 R Squared Ltd 0.01% 11,206 $26K
25 ERn Financial, LLC 0.01% 29,574 $67K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Evolent Health Inc (EVH)

What does the Smart Money Trend signal show for EVH?

Selling streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds reduced or closed their EVH positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for EVH?

More sellers than buyers — 46% buying: Last quarter: 122 funds reduced or exited vs 104 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for EVH holders?

Strong quality — 38% AUM from major funds: 37 of 188 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held EVH?

56% of holders stayed for 2+ years: 106 out of 189 hedge funds have held EVH for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Evolent Health Inc (EVH) following the 2026 Q1 hedge fund 13F filings?

As of today, EVH has moved +30.2% since the 2026 Q1 13F filing date (May 15, 2026), compared to +10.3% for the XLV sector ETF — an outperformance of +19.9%. Since the quarter end (March 31, 2026), EVH has gained +126.1% vs +9.1% for XLV. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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