Evanson Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 15, 2025), Evanson Asset Management, LLC reported 323 stock positions worth $1.6 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 8.9% of the portfolio, followed by Sprott Physical Gold Trust (PHYS, 7.6%) and Vanguard 0-3M T-Bill ETF (VBIL, 4.9%). Compared with Q1 2025, it opened 32 new positions, sold out of 14, added to 154 and reduced 62. The biggest buy was a new position in Vanguard 0-3M T-Bill ETF (VBIL) and the biggest sale Apple (AAPL, shares −18%).
- Most Recent 13F
- Q1 2026
- Location
- CARMEL, CA
- CIK
- 0001626379
- Portfolio Value
- $1.6B (Q2 2025)
- SEC Filing
- 0001085146-25-003862 ↗ filed Jul 15, 2025
Holdings Value
Holdings 323 stocks · $1.6B
| DFAC Dimensional US Core Equity 2 | 8.91% | 3,997,319 | $143.3M | Add +2.8% |
| PHYS Sprott Physical Gold Trust | 7.63% | 4,843,086 | $122.8M | Reduce -3.6% |
| VBIL Vanguard 0-3M T-Bill ETF | 4.94% | 1,051,728 | $79.5M | New |
| DFAX Dimensional World Ex US Core | 4.35% | 2,385,071 | $70.0M | Add +0.0% |
| AAPL Apple Inc. | 4.34% | 340,073 | $69.8M | Reduce -18.4% |
| DFAS Dimensional US Small Cap ETF | 4.28% | 1,079,798 | $68.8M | Add +0.4% |
| DFUS Dimensional US Eq MKT ETF | 3.94% | 946,784 | $63.5M | Reduce -2.4% |
| DFAT Dimensional US Target Value | 3.69% | 1,100,428 | $59.4M | Add +1.4% |
| DFUV Dimensional US Marketwide Va | 3.48% | 1,324,237 | $56.0M | Add +1.0% |
| DFIV Dimensional International Va | 3.47% | 1,304,154 | $55.9M | Add +4.0% |
| METV Roundhill Ball Metaverse ETF | 3.10% | 67,495 | $49.8M | Add +1.5% |
| VTI VG Morningstar TS MKT ETF-US | 3.01% | 159,466 | $48.5M | Reduce -0.3% |
| DFIS Dimensional International SM | 2.17% | 1,172,296 | $35.0M | Add +3.5% |
| GOOGL Alphabet Inc. Class A | 2.17% | 198,157 | $34.9M | Add +0.7% |
| DISV Dimensional International SM | 2.02% | 987,935 | $32.5M | Add +4.3% |
| GOOG Alphabet Inc. Class C | 2.00% | 181,598 | $32.2M | Add +1.8% |
| DFSV Dimensional US Small Cap Val | 1.67% | 910,662 | $26.8M | Add +1.9% |
| DFIC Dimensional International Co. | 1.45% | 750,728 | $23.3M | Add +1.4% |
| VOO Vanguard S&P 500 ETF | 1.38% | 38,968 | $22.1M | Reduce -4.7% |
| DFAI Dimensional International Co. | 1.17% | 545,429 | $18.9M | Add +2.4% |
| VT Vanguard Tot World STK ETF | 1.09% | 136,126 | $17.5M | Add +0.3% |
| DFEM Dimensional Emrg MRKT Core | 0.97% | 528,357 | $15.7M | Add +2.1% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.90% | 296,755 | $14.5M | Add +14.7% |
| DFEV Dimensional Emrg MRKT Val | 0.89% | 476,845 | $14.3M | Add +4.1% |
| MSFT Microsoft Corp. | 0.88% | 28,397 | $14.1M | Add +3.9% |
| DFLV Dim US Large Cap Value ETF | 0.84% | 436,327 | $13.5M | Add +0.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.83% | 21,536 | $13.3M | Add +0.8% |
| NVDA Nvidia Corp. | 0.75% | 76,580 | $12.1M | Add +4.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.73% | 24,211 | $11.8M | Add +14.2% |
| AMZN Amazon.com Inc. | 0.62% | 45,406 | $10.0M | Reduce -29.6% |
| ALRM Alarm.com Holdings Inc. | 0.60% | 169,511 | $9.6M | Reduce -0.2% |
| DFGR Dim Global Real Estate ETF | 0.59% | 352,445 | $9.5M | Add +5.7% |
| IJS iShares S&P Small-Cap 600 Va | 0.48% | 77,392 | $7.7M | Reduce -0.7% |
| DHS Wisdomtree US High Dividend | 0.48% | 79,833 | $7.7M | Reduce -1.4% |
| VYM Vanguard High DVD Yield ETF | 0.46% | 55,442 | $7.4M | Add +0.2% |
| IWB iShares Russell 1000 ETF | 0.42% | 19,815 | $6.7M | Add +0.1% |
| CSCO Cisco Systems Inc. | 0.40% | 92,823 | $6.4M | Add +3.3% |
| DLS Wisdomtree Intl S/C DVD Fund | 0.40% | 84,915 | $6.4M | Add +0.3% |
| ACN Accenture PLC Class A | 0.34% | 18,370 | $5.5M | Reduce -0.1% |
| VXUS Vanguard Total Intl Stock | 0.31% | 72,317 | $5.0M | Add +8.1% |
| XLK SS Technology Select Sector | 0.29% | 18,256 | $4.6M | Add +0.1% |
| VNQ Vanguard Real Estate ETF | 0.28% | 50,658 | $4.5M | Add +0.9% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.28% | 218,568 | $4.5M | Add +17.3% |
| VIG Vanguard Dividend Apprec ETF | 0.28% | 21,675 | $4.4M | Add +5.9% |
| IWF iShares Russell 1000 Growth | 0.27% | 10,096 | $4.3M | Reduce -0.0% |
| DFAW Dimensional World Eqty ETF | 0.26% | 62,525 | $4.2M | Add +7.6% |
| DTH Wisdomtree International Hig | 0.26% | 90,075 | $4.2M | Reduce -6.6% |
| DFNM Dimensional National Muni BD | 0.24% | 81,687 | $3.9M | Reduce -3.7% |
| DFAR Dimensional US Real Est ETF | 0.23% | 157,166 | $3.7M | Add +4.0% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.22% | 12,565 | $3.6M | Reduce -1.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.22% | 15,058 | $3.6M | Add +72.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.22% | 19,766 | $3.5M | Reduce -0.9% |
| IVV iShares Core S&P 500 ETF | 0.22% | 5,594 | $3.5M | Reduce -0.1% |
| VEA Vanguard Ftse Developed ETF | 0.20% | 55,561 | $3.2M | Add +0.6% |
| VSS Vanguard Ftse All Wo X-US SC | 0.20% | 23,502 | $3.2M | Add +4.8% |
| EFA iShares MSCI Eafe ETF | 0.19% | 34,836 | $3.1M | Reduce -0.4% |
| DUHP Dimensional US High Profi Et | 0.19% | 85,381 | $3.0M | Reduce -13.6% |
| DES Wisdomtree US Smallcap Divid | 0.19% | 95,087 | $3.0M | Add +2.9% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.19% | 15,372 | $3.0M | Add +15.3% |
| SLV iShares Silver Trust | 0.19% | 91,043 | $3.0M | Reduce -0.8% |
| TSLA Tesla Inc. | 0.18% | 9,076 | $2.9M | Add +0.9% |
| ABCS Alpha Blue Cap US S-M DYN | 0.18% | 100,083 | $2.9M | Reduce -0.9% |
| DIHP Dimensional International Hi | 0.17% | 95,327 | $2.8M | Add +15.7% |
| IEFA iShares Core MSCI Eafe ETF | 0.17% | 33,564 | $2.8M | Add +2.8% |
| IWD iShares Russell 1000 Value E | 0.17% | 14,328 | $2.8M | Reduce -0.0% |
| OKE Oneok Inc. | 0.17% | 33,213 | $2.7M | Reduce -4.9% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.16% | 5,752 | $2.5M | Add +1.6% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.16% | 24,905 | $2.5M | Add +0.3% |
| VPL Vanguard Ftse Pacific ETF | 0.15% | 30,294 | $2.5M | Add +0.1% |
| BND Vanguard Total Bond Market | 0.15% | 33,532 | $2.5M | Add +14.5% |
| VWO Vanguard Ftse Emerging Marke | 0.15% | 49,784 | $2.5M | Add +2.6% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.15% | 30,492 | $2.4M | No change |
| VGK Vanguard Ftse Europe ETF | 0.15% | 30,617 | $2.4M | Add +0.6% |
| IVW iShares S&P 500 Growth ETF | 0.15% | 21,447 | $2.4M | Reduce -0.1% |
| XOM Exxon Mobil Corp. | 0.15% | 21,741 | $2.3M | Add +0.3% |
| VEU Vanguard Ftse All-World Ex-U | 0.15% | 34,813 | $2.3M | Add +528.4% |
| CVX Chevron Corp. | 0.14% | 15,859 | $2.3M | Add +1.1% |
| JNJ Johnson & Johnson | 0.14% | 14,577 | $2.2M | Add +12.4% |
| IJR iShares Core S&P Small-Cap E | 0.14% | 20,186 | $2.2M | Reduce -0.8% |
| VGT Vanguard Info Tech ETF | 0.13% | 3,170 | $2.1M | Reduce -12.6% |
| BSV Vanguard Short-Term Bond ETF | 0.13% | 25,633 | $2.0M | Add +0.6% |
| AVGE Avantis All Eqty Mrkts ETF | 0.12% | 25,722 | $2.0M | Add +7.6% |
| DFAE Dimensional Emerging Core Eq | 0.12% | 68,778 | $2.0M | Reduce -11.0% |
| EPD Enterprise Products Partners | 0.12% | 62,829 | $1.9M | Reduce -13.7% |
| DVY iShares Select Dividend ETF | 0.12% | 14,047 | $1.9M | Reduce -11.3% |
| QQQM Invesco Nasdaq 100 ETF | 0.12% | 8,175 | $1.9M | Add +21.5% |
| AMD Advanced Micro Devices | 0.11% | 12,474 | $1.8M | Reduce -1.1% |
| IYR iShares US Real Estate ETF | 0.11% | 18,372 | $1.7M | No change |
| VFH Vanguard Financials ETF | 0.11% | 13,617 | $1.7M | Reduce -0.4% |
| IWC iShares Micro-Cap ETF | 0.11% | 13,547 | $1.7M | Add +0.1% |
| ADBE Adobe Inc. | 0.11% | 4,430 | $1.7M | Reduce -0.1% |
| PG The Procter & Gamble Co. | 0.11% | 10,608 | $1.7M | Add +14.3% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.10% | 23,166 | $1.7M | Add +21.1% |
| AVDE Avantis International Equity | 0.10% | 22,463 | $1.7M | Add +1.2% |
| SCHF Schwab Intl Equity ETF | 0.10% | 74,607 | $1.6M | Reduce -0.3% |
| AVUV Avantis US Small Cap Value | 0.10% | 18,082 | $1.6M | Add +4.6% |
| JPM JPMorgan Chase & Co. | 0.10% | 5,661 | $1.6M | Add +28.6% |
| VDE Vanguard Energy ETF | 0.10% | 13,763 | $1.6M | Add +0.1% |
| SCHX Schwab US Large-Cap ETF | 0.10% | 67,000 | $1.6M | Add +0.1% |
| AVGV Avantis All Eq MKTS Val ETF | 0.10% | 25,000 | $1.6M | Add +15.5% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $598K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 251 | $304K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 250 | $294K | No change |
Total filed on the 13F, all lines: $1.6B.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -18.4% | 4.34% | −2.22 |
| PHYS Sprott Physical Gold Trust | Reduce -3.6% | 7.63% | −0.94 |
| AMZN Amazon.com Inc. | Reduce -29.6% | 0.62% | −0.25 |
| DFUS Dimensional US Eq MKT ETF | Reduce -2.4% | 3.94% | −0.21 |
| VOO Vanguard S&P 500 ETF | Reduce -4.7% | 1.38% | −0.11 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.3% | 3.01% | −0.10 |
| MUB iShares National Muni Bond E | Reduce -85.1% | 0.01% | −0.10 |
| CORT Corcept Therapeutics Inc. | Reduce -24.9% | 0.07% | −0.10 |
| DHS Wisdomtree US High Dividend | Reduce -1.4% | 0.48% | −0.09 |
| OKE Oneok Inc. | Reduce -4.9% | 0.17% | −0.08 |
| ALRM Alarm.com Holdings Inc. | Reduce -0.2% | 0.60% | −0.07 |
| ACN Accenture PLC Class A | Reduce -0.1% | 0.34% | −0.07 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -0.7% | 0.48% | −0.06 |
| EPD Enterprise Products Partners | Reduce -13.7% | 0.12% | −0.06 |
| DFAU Dimensional US Core Equity M | Reduce -56.0% | 0.03% | −0.05 |
| DFNM Dimensional National Muni BD | Reduce -3.7% | 0.24% | −0.05 |
| DUHP Dimensional US High Profi Et | Reduce -13.6% | 0.19% | −0.04 |
| DHR Danaher Corp. | Sold out | 0.00% | −0.04 |
| DJP Ipath Bloomberg Commodity Inc. | Sold out | 0.00% | −0.04 |
| DVY iShares Select Dividend ETF | Reduce -11.3% | 0.12% | −0.03 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −0.03 |
| DTH Wisdomtree International Hig | Reduce -6.6% | 0.26% | −0.03 |
| BIV Vanguard Intermediate-Term B | Reduce -40.0% | 0.03% | −0.03 |
| VUSB Vanguard Ultra Short Bond Et | Reduce -32.2% | 0.04% | −0.03 |
| DEM Wisdomtree Emerging Markets | Reduce -23.7% | 0.07% | −0.03 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -0.9% | 0.22% | −0.03 |
| FTNT Fortinet Inc. | Sold out | 0.00% | −0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -56.6% | 0.01% | −0.02 |
| DFCA Dimensional Calfornia MB ETF | Sold out | 0.00% | −0.02 |
| T AT&T Inc. | Reduce -51.7% | 0.02% | −0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Sold out | 0.00% | −0.02 |
| ABCS Alpha Blue Cap US S-M DYN | Reduce -0.9% | 0.18% | −0.02 |
| IWD iShares Russell 1000 Value E | Reduce -0.0% | 0.17% | −0.02 |
| DFAE Dimensional Emerging Core Eq | Reduce -11.0% | 0.12% | −0.02 |
| NOBL Proshares S&P 500 Dividend A | Sold out | 0.00% | −0.02 |
| SCHO Schwab Short-Term US Treas | Reduce -9.4% | 0.07% | −0.02 |
| BINC iShares Flex I A ETF-Usd Inc. | Sold out | 0.00% | −0.02 |
| BIP Brookfield Infrastructure Pa | Sold out | 0.00% | −0.02 |
| SLV iShares Silver Trust | Reduce -0.8% | 0.19% | −0.02 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.02 |
| DXUV Dimensional US Vtor Eqty ETF | Reduce -25.4% | 0.04% | −0.02 |
| FDX FedEx Corp. | Sold out | 0.00% | −0.02 |
| IDV iShares International Select | Sold out | 0.00% | −0.01 |
| ADBE Adobe Inc. | Reduce -0.1% | 0.11% | −0.01 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.8% | 0.14% | −0.01 |
| TLRY Tilray Brands Inc. | Sold out | 0.00% | −0.01 |
| VGSH Vanguard Short-Term Treasury | Reduce -12.9% | 0.03% | −0.01 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -1.4% | 0.22% | −0.01 |
| EFA iShares MSCI Eafe ETF | Reduce -0.4% | 0.19% | −0.01 |
| APPF Appfolio Inc. Class A | Reduce -1.4% | 0.09% | −0.01 |
Portfolio Buys Q1 2025 → Q2 2025
| VBIL Vanguard 0-3M T-Bill ETF | New | 4.94% | +4.94 |
| METV Roundhill Ball Metaverse ETF | Add +1.5% | 3.10% | +0.38 |
| NVDA Nvidia Corp. | Add +4.3% | 0.75% | +0.19 |
| MSFT Microsoft Corp. | Add +3.9% | 0.88% | +0.15 |
| VEU Vanguard Ftse All-World Ex-U | Add +528.4% | 0.15% | +0.12 |
| RWAY Runway Growth Finance Corp. | New | 0.10% | +0.10 |
| DFIS Dimensional International SM | Add +3.5% | 2.17% | +0.10 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +72.8% | 0.22% | +0.08 |
| PFF iShares Preferred & Income S | New | 0.07% | +0.07 |
| DISV Dimensional International SM | Add +4.3% | 2.02% | +0.07 |
| PFXF Vaneck Pref Sec X-Financials | New | 0.06% | +0.06 |
| ENB Enbridge Inc. | New | 0.05% | +0.05 |
| COST Costco Wholesale Corp. | Add +130.6% | 0.09% | +0.05 |
| ET Energy Transfer LP | New | 0.05% | +0.05 |
| ARCC Ares Capital Corp. | New | 0.04% | +0.04 |
| JPST JPMorgan Ultra-Short Income | Add +104.4% | 0.07% | +0.03 |
| BNDX Vanguard Total Intl Bond ETF | Add +165.1% | 0.05% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +1.8% | 2.00% | +0.03 |
| AVSC Avantis US Small Cap Equity | Add +115.7% | 0.05% | +0.03 |
| BN Brookfield Corp. | New | 0.03% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +28.6% | 0.10% | +0.03 |
| ARKF ARK Blockchain & Fintech Inn | New | 0.03% | +0.03 |
| QQQM Invesco Nasdaq 100 ETF | Add +21.5% | 0.12% | +0.02 |
| VXF Vanguard Extended Market ETF | Add +124.1% | 0.04% | +0.02 |
| AVDS Avantis Intl SM Cap Eq ETF | Add +85.9% | 0.05% | +0.02 |
| KO The Coca-Cola Co. | New | 0.02% | +0.02 |
| EFV iShares MSCI Eafe Value ETF | Add +62.1% | 0.06% | +0.02 |
| ASML ASML Holding NV-NY Reg SHS | New | 0.02% | +0.02 |
| XLK SS Technology Select Sector | Add +0.1% | 0.29% | +0.02 |
| BSVO EA Bridgeway Omni Sm-Cp Val | Add +17.3% | 0.28% | +0.02 |
| MELI MercadoLibre Inc. | New | 0.02% | +0.02 |
| PYPL PayPal Holdings Inc. | Add +74.7% | 0.05% | +0.02 |
| TSM Taiwan Semiconductor-SP ADR | Add +45.9% | 0.05% | +0.02 |
| PLTR Palantir Technologies Inc. Class A | New | 0.02% | +0.02 |
| HD Home Depot Inc. | Add +61.6% | 0.06% | +0.02 |
| PAYX Paychex Inc. | New | 0.02% | +0.02 |
| SYY Sysco Corp. | New | 0.02% | +0.02 |
| DIHP Dimensional International Hi | Add +15.7% | 0.17% | +0.02 |
| ISRG Intuitive Surgical Inc. | New | 0.02% | +0.02 |
| VONG Vanguard Russell 1000 Growth | New | 0.02% | +0.02 |
| VXUS Vanguard Total Intl Stock | Add +8.1% | 0.31% | +0.02 |
| PNC PNC Financial Services Group | New | 0.02% | +0.02 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +21.1% | 0.10% | +0.02 |
| PDI PIMCO Dynamic Income Fund | New | 0.02% | +0.02 |
| VNQI Vanguard GLBL Ex-US Real Est | Add +45.2% | 0.05% | +0.02 |
| HIO Western Asset Hi Inc. Opport | New | 0.02% | +0.02 |
| GHY Pgim Global High Yield Fund | New | 0.01% | +0.01 |
| JEPI JPMorgan Equity Premium Inco | New | 0.01% | +0.01 |
| IWP iShares Russell Mid-Cap Grow | New | 0.01% | +0.01 |
| ALGN Align Technology Inc. | New | 0.01% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026 | 319 | $1.9B | DFAC, VBIL, PHYS, DFAS, DFAX |
| Q4 2025 | 324 | $1.9B | DFAC, VBIL, PHYS, DFAS, DFAX |
| Q3 2025 | 321 | $1.8B | DFAC, PHYS, VBIL, DFAS, AAPL |
| Q2 2025 | 323 | $1.6B | DFAC, PHYS, VBIL, DFAX, AAPL |
| Q1 2025 | 305 | $1.4B | DFAC, PHYS, AAPL, DFAS, DFAX |
| Q4 2024 | 305 | $1.5B | DFAC, PHYS, AAPL, DFAS, DFAX |
| Q3 2024 | 303 | $1.4B | DFAC, PHYS, AAPL, DFAX, DFAS |
| Q2 2024 | 297 | $1.4B | DFAC, PHYS, AAPL, DFAX, METV |
| Q1 2024 | 305 | $1.3B | DFAC, PHYS, AAPL, DFAX, DFAT |