Evolution Advisers, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 23, 2026), Evolution Advisers, Inc. reported 168 stock positions worth $230.9 million. Its top holding was Vanguard Ftse Developed ETF (VEA) at 16.3% of the portfolio, followed by Vanguard Mrngstar GR ETF-Sui (VUG, 15.0%) and Vanguard Mrngstr Val ETF-Aui (VTV, 10.9%). Compared with Q3 2025, it opened 12 new positions, sold out of 3, added to 31 and reduced 12. The biggest buy was iShares Intl Aggregate Bond (IAGG, shares +4338%) and the biggest sale Vanguard Total Intl Bond ETF (BNDX, shares −2%).

Most Recent 13F
Q2 2026
Location
RICHMOND, VA
CIK
0001906967
Portfolio Value
$230.9M (Q4 2025)
SEC Filing
0001906967-26-000004 ↗ filed Jan 23, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $169.4M Q1 2024 Q2 2024: $174.0M Q2 2024 Q3 2024: $183.7M Q3 2024 Q4 2024: $183.0M Q4 2024 Q1 2025: $190.0M Q1 2025 Q2 2025: $204.0M Q2 2025 Q3 2025: $222.4M Q3 2025 Q4 2025: $230.9M $230.9M Q4 2025 Q1 2026: $237.3M Q1 2026 Q2 2026: $272.1M Q2 2026

Holdings 168 stocks · $230.9M
VEA Vanguard Ftse Developed ETF 16.26% 601,143 $37.6M Add +2.5%
VUG Vanguard Mrngstar GR ETF-Sui 15.00% 71,017 $34.6M Add +2.2%
VTV Vanguard Mrngstr Val ETF-Aui 10.87% 131,486 $25.1M Add +2.8%
BNDX Vanguard Total Intl Bond ETF 9.58% 458,070 $22.1M Reduce -2.2%
BSV Vanguard Short-Term Bond ETF 7.95% 233,077 $18.4M Add +5.0%
VWO Vanguard Ftse Emerging Marke 6.14% 263,963 $14.2M Add +4.4%
VMBS Vanguard Mortgage-Backed Sec 4.42% 217,033 $10.2M Add +4.1%
BLV Vanguard Long-Term Bond ETF 3.85% 127,930 $8.9M Reduce -1.6%
VB Vanguard Most SM-Cap ETF-Usd 3.56% 31,866 $8.2M Add +3.1%
BIV Vanguard Intermediate-Term B 3.50% 103,833 $8.1M Add +5.2%
NUDM Nuveen ESG Intl Devel MRK Eq 2.94% 187,792 $6.8M Add +3.1%
NULG Nuveen ESG LRG-Cap GRW ETF 1.34% 31,757 $3.1M Reduce -0.5%
NUBD Nuveen ESG US Aggregate Bond 1.20% 123,622 $2.8M Add +1.8%
NULV Nuveen ESG Large-Cap Val ETF 1.19% 61,179 $2.8M Reduce -0.1%
NUEM Nuveen ESG Emerging Markets 0.98% 63,377 $2.3M Add +4.8%
IAGG iShares Intl Aggregate Bond 0.79% 36,482 $1.8M Add +4338.2%
PWV Invesco Large Cap Value ETF 0.70% 24,300 $1.6M No change
SCHX Schwab US Large-Cap ETF 0.69% 58,899 $1.6M Add +5.6%
VOO Vanguard S&P 500 ETF 0.68% 2,498 $1.6M Add +0.8%
AAPL Apple Inc. 0.64% 5,419 $1.5M No change
GNW Genworth Financial Inc. 0.48% 121,849 $1.1M No change
VTEB Vanguard Tax-Exempt Bond ETF 0.38% 17,288 $869K Add +9.6%
BND Vanguard Total Bond Market 0.32% 10,092 $747K Add +50360.0%
NUSC Nuveen ESG Small-Cap ETF 0.31% 16,029 $715K Add +0.3%
VXUS Vanguard Total Intl Stock 0.29% 8,875 $669K Add +1.2%
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.29% 2,389 $667K No change
DFAC Dimensional US Core Equity 2 0.29% 16,680 $660K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.28% 2,087 $657K Add +16.9%
XOM Exxon Mobil Corp. 0.26% 4,955 $596K Add +0.0%
UNP Union Pacific Corp. 0.20% 2,042 $472K No change
BRK.B Berkshire Hathaway Inc. Class B 0.20% 905 $454K No change
GOOGL Alphabet Inc. Class A 0.18% 1,359 $425K No change
WMT Walmart Inc. 0.18% 3,779 $421K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.17% 1,394 $404K No change
WFC Wells Fargo & Co. 0.17% 4,334 $403K No change
VCSH Vanguard S/T Corp. Bond ETF 0.16% 4,578 $365K Add +2.8%
ORI Old Republic Intl Corp. 0.15% 7,682 $350K No change
AMZN Amazon.com Inc. 0.15% 1,516 $349K Add +46.5%
VT Vanguard Tot World STK ETF 0.13% 2,066 $291K Add +0.4%
SCHF Schwab Intl Equity ETF 0.12% 11,562 $277K Add +7.6%
NI Nisource Inc. 0.11% 5,932 $247K No change
VYM Vanguard High DVD Yield ETF 0.10% 1,678 $240K No change
JPM JPMorgan Chase & Co. 0.09% 651 $209K No change
SCHZ Schwab US Aggregate Bond ETF 0.09% 8,810 $205K Add +15.4%
VTI VG Morningstar TS MKT ETF-US 0.09% 39,187 $200K No change
CW Curtiss-Wright Corp. 0.08% 350 $192K No change
GOOG Alphabet Inc. Class C 0.08% 600 $188K No change
SCHE Schwab Emrg Mrkts Eqty ETF 0.08% 5,374 $175K Add +10.6%
MKL Markel Group Inc. 0.07% 77 $166K Add +1.3%
KMB Kimberly-Clark Corp. 0.07% 1,567 $160K No change
MSFT Microsoft Corp. 0.07% 326 $157K Reduce -31.2%
AVGO Broadcom Inc. 0.07% 450 $155K No change
V Visa Inc. Class A 0.06% 381 $133K No change
TDY Teledyne Technologies Inc. 0.06% 250 $127K No change
LOW Lowe's Cos Inc. 0.05% 522 $126K No change
SCHM Schwab US Mid Cap ETF 0.05% 4,191 $126K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.05% 179 $122K No change
VEU Vanguard Ftse All-World Ex-U 0.05% 1,649 $121K No change
D Dominion Energy Inc. 0.05% 1,967 $115K No change
MA Mastercard Inc. Class A 0.05% 197 $112K Reduce -3.9%
CSCO Cisco Systems Inc. 0.05% 1,449 $111K No change
SYK Stryker Corp. 0.05% 300 $105K No change
VXF Vanguard Extended Market ETF 0.04% 498 $104K No change
TMO Thermo Fisher Scientific Inc. 0.04% 160 $92K No change
HD Home Depot Inc. 0.04% 260 $89K Reduce -40.9%
SCHG Schwab US Large-Cap Growth 0.04% 2,618 $85K No change
JNJ Johnson & Johnson 0.04% 403 $83K No change
ELV Elevance Health Inc. 0.04% 236 $82K No change
CEG Constellation Energy 0.04% 232 $82K No change
SCHA Schwab US Small-Cap ETF 0.04% 2,864 $81K Add +33.6%
DFAU Dimensional US Core Equity M 0.03% 1,699 $79K No change
J Jacobs Solutions Inc. 0.03% 600 $79K No change
KNSL Kinsale Capital Group Inc. 0.03% 199 $77K No change
PEP Pepsico Inc. 0.03% 526 $76K No change
BNDW Vanguard Total World Bond Et 0.03% 1,101 $75K Add +1.4%
ORCL Oracle Corp. 0.03% 380 $74K No change
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.03% 728 $74K No change
TFC Truist Financial Corp. 0.03% 73,840 $73K Reduce -1.2%
SEIC Sei Investments Company 0.03% 873 $71K No change
HSY The Hershey Co. 0.03% 381 $69K No change
IVV iShares Core S&P 500 ETF 0.03% 100 $68K No change
MCK McKesson Corp. 0.03% 83 $68K No change
HYBX TCW High Yield Bond ETF 0.03% 2,245 $67K No change
AMGN Amgen Inc. 0.03% 200 $65K No change
LMT Lockheed Martin Corp. 0.03% 132 $63K No change
ESGD iShares Trust iShares ESG Aw 0.03% 650 $61K No change
COF Capital One Financial Corp. 0.02% 232 $56K Reduce -41.7%
IJR iShares Core S&P Small-Cap E 0.02% 444 $53K No change
NTR Nutrien Ltd. 0.02% 867 $53K No change
DAL Delta Air Lines Inc. 0.02% 759 $52K No change
ACN Accenture PLC Class A 0.02% 192 $51K No change
FIW First Trust Water ETF 0.02% 456 $49K No change
PSX Phillips 66 0.02% 373 $48K No change
ADP Automatic Data Processing 0.02% 176 $45K No change
PPL PPL Corp. 0.02% 1,223 $42K No change
CHGX Stance Sustainable Beta ETF 0.02% 1,513 $41K New
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.02% 374 $41K New
IYF iShares US Financials ETF 0.02% 319 $41K Add +0.6%
ETN Eaton Corp. PLC 0.02% 126 $40K No change
IJH iShares Core S&P Midcap ETF 0.02% 565 $37K No change
CTAS Cintas Corp. 0.01% 180 $33K No change
EXC Exelon Corp. 0.01% 760 $33K No change
VGT Vanguard Info Tech ETF 0.01% 45 $33K New
LIN Linde PLC 0.01% 79 $33K No change
DFIV Dimensional International Va 0.01% 659 $32K New
PPA Invesco Aerospace & Defense 0.01% 206 $32K No change
MDY State Street SPDR S&P Midcap 0.01% 54 $32K No change
SBUX Starbucks Corp. 0.01% 383 $32K No change
FTNT Fortinet Inc. 0.01% 390 $30K No change
PAYX Paychex Inc. 0.01% 275 $30K No change
GE General Electric filed as GE AEROSPACE 0.01% 95 $29K No change
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 100 $29K No change
IYW iShares Ustechnology ETF 0.01% 142 $28K No change
HON Honeywell International Inc. 0.01% 136 $26K No change
JNK SS SPDR BB High Yield Bond 0.01% 249 $24K New
UNH Unitedhealth Group Inc. 0.01% 75 $24K No change
ESGV Vanguard ESG US Stock ETF 0.01% 199 $24K No change
CHD Church & Dwight Co. Inc. 0.01% 278 $23K No change
WSM Williams-Sonoma Inc. 0.01% 132 $23K No change
IEMG iShares Core MSCI Emerging 0.01% 300 $20K No change
RIVN Rivian Automotive Inc. Class A 0.01% 1,006 $19K No change
AMTM Amentum Holdings Inc. 0.01% 636 $18K No change
SCHB Schwab US Broad Market ETF 0.01% 657 $17K No change
VBIL Vanguard 0-3M T-Bill ETF 0.01% 220 $16K No change
MO Altria Group Inc. 0.01% 274 $15K No change
CVX Chevron Corp. 0.01% 100 $15K No change
GEV GE Vernova Inc. 0.01% 23 $15K No change
QQQ Invesco QQQ Trust Series 1 0.01% 25 $15K No change
IWD iShares Russell 1000 Value E 0.01% 71 $14K No change
CRM Salesforce Inc. 0.01% 50 $13K No change
T AT&T Inc. 0.01% 494 $12K No change
SCHV Schwab US Large-Cap Value 0.01% 420 $12K New
TSLA Tesla Inc. 0.01% 27 $12K Reduce -85.9%
DHR Danaher Corp. 0.00% 50 $11K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 100 $11K No change
METV Roundhill Ball Metaverse ETF 0.00% 600 $11K No change
GLD SPDR Gold Shares 0.00% 28 $11K New
VNQ Vanguard Real Estate ETF 0.00% 116 $10K Add +480.0%
DFSV Dimensional US Small Cap Val 0.00% 282 $9K New
F Ford Motor Co. filed as FORD MTR CO 0.00% 700 $9K No change
SCHH Schwab US REIT ETF 0.00% 457 $9K New
GOLF Acushnet Holdings Corp. 0.00% 103 $8K No change
ISCV iShares Morningstar Small-Ca 0.00% 130 $8K New
UPS United Parcel Service Class B 0.00% 79 $7K No change
ARCC Ares Capital Corp. 0.00% 318 $6K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.00% 125 $6K No change
EXR Extra Space Storage Inc. 0.00% 50 $6K No change
SYF Synchrony Financial 0.00% 74 $6K No change
VZ Verizon Communications Inc. 0.00% 157 $6K No change
HCA HCA Healthcare Inc. 0.00% 11 $5K Reduce -96.9%
MTZ Mastec Inc. 0.00% 15 $3K No change
AWK American Water Works Co. Inc. 0.00% 16 $2K Reduce -80.0%
GSLC Goldman Activebeta US LC ETF 0.00% 17 $2K No change
SPGP Invesco S&P 500 Garp ETF 0.00% 18 $2K No change
IOO iShares Global 100 ETF 0.00% 19 $2K No change
VNQI Vanguard GLBL Ex-US Real Est 0.00% 45 $2K New
CGCP Cap Group Core Plus Income 0.00% 80 $1K No change
IQLT iShares MSCI International Q 0.00% 22 $1K No change
VWOB Vanguard Emerg MKTS Gov BND 0.00% 15 $1K No change
KO The Coca-Cola Co. 0.00% 2 $0 No change
NFLT Virtus Newfleet Multi-Sector 0.00% 17 $0 No change
FBND Fidelity Total Bond ETF 0.00% 17 $0 No change
DIVI Franklin International Core 0.00% 2 $0 No change
IDRV iShares Self-Driving Ev&tech 0.00% 5 $0 No change
MS Morgan Stanley 0.00% 2 $0 New
NKE Nike Inc. Class B 0.00% 2 $0 No change
SPMD SS SPDR P S&P 400 Midcap ETF 0.00% 15 $0 No change
WBD Warner Bros Discovery Inc. 0.00% 79 $0 No change

Portfolio Sells Q3 2025 → Q4 2025
BNDX Vanguard Total Intl Bond ETF Reduce -2.2% 9.58% −0.84
BLV Vanguard Long-Term Bond ETF Reduce -1.6% 3.85% −0.30
NULG Nuveen ESG LRG-Cap GRW ETF Reduce -0.5% 1.34% −0.08
HCA HCA Healthcare Inc. Reduce -96.9% 0.00% −0.07
MSFT Microsoft Corp. Reduce -31.2% 0.07% −0.04
HD Home Depot Inc. Reduce -40.9% 0.04% −0.04
TSLA Tesla Inc. Reduce -85.9% 0.01% −0.03
TFC Truist Financial Corp. Reduce -1.2% 0.03% −0.02
UL Unilever PLC Sold out 0.00% −0.02
NULV Nuveen ESG Large-Cap Val ETF Reduce -0.1% 1.19% −0.02
COF Capital One Financial Corp. Reduce -41.7% 0.02% −0.01
TTE Totalenergies SE -Spon ADR Sold out 0.00% −0.01
ADBE Adobe Inc. Sold out 0.00% −0.01
MA Mastercard Inc. Class A Reduce -3.9% 0.05% −0.00
AWK American Water Works Co. Inc. Reduce -80.0% 0.00% −0.00

Portfolio Buys Q3 2025 → Q4 2025
IAGG iShares Intl Aggregate Bond Add +4338.2% 0.79% +0.77
VEA Vanguard Ftse Developed ETF Add +2.5% 16.26% +0.33
BND Vanguard Total Bond Market Add +50360.0% 0.32% +0.32
VTV Vanguard Mrngstr Val ETF-Aui Add +2.8% 10.87% +0.13
BSV Vanguard Short-Term Bond ETF Add +5.0% 7.95% +0.06
AMZN Amazon.com Inc. Add +46.5% 0.15% +0.05
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +16.9% 0.28% +0.04
BIV Vanguard Intermediate-Term B Add +5.2% 3.50% +0.02
SCHX Schwab US Large-Cap ETF Add +5.6% 0.69% +0.02
VTEB Vanguard Tax-Exempt Bond ETF Add +9.6% 0.38% +0.02
CHGX Stance Sustainable Beta ETF New 0.02% +0.02
LQD Ishr Ibx Usd Invgd CB ETF-Ui New 0.02% +0.02
VB Vanguard Most SM-Cap ETF-Usd Add +3.1% 3.56% +0.02
VGT Vanguard Info Tech ETF New 0.01% +0.01
DFIV Dimensional International Va New 0.01% +0.01
JNK SS SPDR BB High Yield Bond New 0.01% +0.01
XOM Exxon Mobil Corp. Add +0.0% 0.26% +0.01
SCHA Schwab US Small-Cap ETF Add +33.6% 0.04% +0.01
SCHZ Schwab US Aggregate Bond ETF Add +15.4% 0.09% +0.01
MKL Markel Group Inc. Add +1.3% 0.07% +0.01
SCHF Schwab Intl Equity ETF Add +7.6% 0.12% +0.01
VMBS Vanguard Mortgage-Backed Sec Add +4.1% 4.42% +0.01
SCHV Schwab US Large-Cap Value New 0.01% +0.01
GLD SPDR Gold Shares New 0.00% +0.00
DFSV Dimensional US Small Cap Val New 0.00% +0.00
SCHH Schwab US REIT ETF New 0.00% +0.00
VNQ Vanguard Real Estate ETF Add +480.0% 0.00% +0.00
ISCV iShares Morningstar Small-Ca New 0.00% +0.00
SCHE Schwab Emrg Mrkts Eqty ETF Add +10.6% 0.08% +0.00
VNQI Vanguard GLBL Ex-US Real Est New 0.00% +0.00
IYF iShares US Financials ETF Add +0.6% 0.02% +0.00
MS Morgan Stanley New 0.00% 0.00
BNDW Vanguard Total World Bond Et Add +1.4% 0.03% −0.00
VXUS Vanguard Total Intl Stock Add +1.2% 0.29% −0.00
VT Vanguard Tot World STK ETF Add +0.4% 0.13% −0.00
VCSH Vanguard S/T Corp. Bond ETF Add +2.8% 0.16% −0.00
NUEM Nuveen ESG Emerging Markets Add +4.8% 0.98% −0.00
VOO Vanguard S&P 500 ETF Add +0.8% 0.68% −0.01
NUSC Nuveen ESG Small-Cap ETF Add +0.3% 0.31% −0.01
NUBD Nuveen ESG US Aggregate Bond Add +1.8% 1.20% −0.03
VUG Vanguard Mrngstar GR ETF-Sui Add +2.2% 15.00% −0.05
VWO Vanguard Ftse Emerging Marke Add +4.4% 6.14% −0.05
NUDM Nuveen ESG Intl Devel MRK Eq Add +3.1% 2.94% −0.16

Notes & Other Activity Q3 2025 → Q4 2025
COST Costco Wholesale Corp. COM Reduce -100.0% 0 $0

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 942$272.1MVEA, VUG, VTV, BNDX, BSV
Q1 2026 160$237.3MVEA, VUG, VTV, BNDX, BSV
Q4 2025 168$230.9MVEA, VUG, VTV, BNDX, BSV
Q3 2025 160$222.4MVEA, VUG, VTV, BNDX, BSV
Q2 2025 155$204.0MVEA, VUG, VTV, BNDX, BSV
Q1 2025 160$190.0MVEA, VUG, VTV, BNDX, BSV
Q4 2024 183$183.0MVUG, VEA, VTV, BNDX, BSV
Q3 2024 196$183.7MVEA, VUG, VTV, BNDX, BSV
Q2 2024 186$174.0MVUG, VEA, BNDX, VTV, BSV
Q1 2024 184$169.4MVEA, VUG, VTV, BNDX, BSV