Evanson Asset Management, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 12, 2026), Evanson Asset Management, LLC reported 324 stock positions worth $1.9 billion. Its top holding was Dimensional US Core Equity 2 (DFAC) at 8.6% of the portfolio, followed by Vanguard 0-3M T-Bill ETF (VBIL, 7.8%) and Sprott Physical Gold Trust (PHYS, 7.3%). Compared with Q3 2025, it opened 12 new positions, sold out of 9, added to 166 and reduced 75. The biggest buy was Vanguard 0-3M T-Bill ETF (VBIL, shares +40%) and the biggest sale Roundhill Ball Metaverse ETF (METV, shares −40%).
- Most Recent 13F
- Q1 2026
- Location
- CARMEL, CA
- CIK
- 0001626379
- Portfolio Value
- $1.9B (Q4 2025)
- SEC Filing
- 0001626379-26-000001 ↗ filed Jan 12, 2026
Holdings Value
Holdings 324 stocks · $1.9B
| DFAC Dimensional US Core Equity 2 | 8.55% | 4,002,215 | $158.4M | Add +0.3% |
| VBIL Vanguard 0-3M T-Bill ETF | 7.75% | 1,904,118 | $143.6M | Add +39.8% |
| PHYS Sprott Physical Gold Trust | 7.27% | 4,080,010 | $134.7M | Reduce -10.1% |
| DFAS Dimensional US Small Cap ETF | 4.37% | 1,162,402 | $81.0M | Add +1.4% |
| DFAX Dimensional World Ex US Core | 4.07% | 2,303,524 | $75.4M | Reduce -2.0% |
| AAPL Apple Inc. | 3.89% | 265,278 | $72.1M | Reduce -11.0% |
| DFUS Dimensional US Eq MKT ETF | 3.81% | 950,482 | $70.5M | Add +3.5% |
| DFIV Dimensional International Va | 3.74% | 1,386,778 | $69.2M | Add +2.2% |
| DFAT Dimensional US Target Value | 3.48% | 1,083,707 | $64.5M | Reduce -1.1% |
| DFUV Dimensional US Marketwide Va | 3.35% | 1,333,124 | $62.1M | Add +1.2% |
| VTI VG Morningstar TS MKT ETF-US | 2.95% | 162,929 | $54.6M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 2.86% | 169,393 | $53.0M | Reduce -14.5% |
| GOOG Alphabet Inc. Class C | 2.51% | 147,959 | $46.4M | Reduce -19.7% |
| DFIS Dimensional International SM | 2.38% | 1,336,151 | $44.0M | Add +2.9% |
| DISV Dimensional International SM | 2.34% | 1,142,904 | $43.4M | Add +4.1% |
| DFSV Dimensional US Small Cap Val | 1.82% | 1,027,169 | $33.8M | Add +7.8% |
| VOO Vanguard S&P 500 ETF | 1.63% | 48,228 | $30.2M | Add +9.5% |
| DFIC Dimensional International Co. | 1.49% | 799,589 | $27.6M | Add +1.8% |
| METV Roundhill Ball Metaverse ETF | 1.36% | 38,073 | $25.1M | Reduce -39.7% |
| DFAI Dimensional International Co. | 1.24% | 603,362 | $23.0M | Add +6.6% |
| VT Vanguard Tot World STK ETF | 1.04% | 137,031 | $19.3M | Add +0.5% |
| DFEM Dimensional Emrg MRKT Core | 1.03% | 579,153 | $19.2M | Add +2.9% |
| DFEV Dimensional Emrg MRKT Val | 1.00% | 551,175 | $18.6M | Add +3.6% |
| DFLV Dim US Large Cap Value ETF | 0.97% | 527,946 | $18.1M | Add +10.3% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.81% | 299,536 | $15.1M | Add +12.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.79% | 21,521 | $14.7M | Add +0.1% |
| MSFT Microsoft Corp. | 0.73% | 28,132 | $13.6M | Reduce -1.2% |
| DFGR Dim Global Real Estate ETF | 0.64% | 450,854 | $11.9M | Add +8.9% |
| NVDA Nvidia Corp. | 0.58% | 57,952 | $10.8M | Reduce -25.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.55% | 20,284 | $10.2M | Reduce -11.2% |
| IJS iShares S&P Small-Cap 600 Va | 0.48% | 77,871 | $8.9M | Reduce -1.2% |
| ALRM Alarm.com Holdings Inc. | 0.47% | 168,914 | $8.6M | Reduce -0.3% |
| VYM Vanguard High DVD Yield ETF | 0.45% | 57,579 | $8.3M | Add +1.0% |
| DHS Wisdomtree US High Dividend | 0.44% | 79,658 | $8.1M | Reduce -0.3% |
| AMZN Amazon.com Inc. | 0.42% | 33,620 | $7.8M | Reduce -22.2% |
| IWB iShares Russell 1000 ETF | 0.41% | 20,528 | $7.7M | Add +3.5% |
| CSCO Cisco Systems Inc. | 0.38% | 92,447 | $7.1M | Reduce -0.1% |
| DLS Wisdomtree Intl S/C DVD Fund | 0.37% | 83,604 | $6.8M | Reduce -0.3% |
| DFAW Dimensional World Eqty ETF | 0.34% | 84,719 | $6.3M | Add +18.5% |
| SLV iShares Silver Trust | 0.34% | 96,844 | $6.2M | Add +4.7% |
| VXUS Vanguard Total Intl Stock | 0.34% | 82,370 | $6.2M | Add +2.9% |
| BSVO EA Bridgeway Omni Sm-Cp Val | 0.29% | 232,232 | $5.4M | Add +6.3% |
| XLK SS Technology Select Sector | 0.28% | 36,584 | $5.3M | Add +0.1% |
| ACN Accenture PLC Class A | 0.27% | 18,415 | $4.9M | Add +0.1% |
| IWF iShares Russell 1000 Growth | 0.25% | 9,778 | $4.6M | Reduce -3.2% |
| VIG Vanguard Dividend Apprec ETF | 0.24% | 20,029 | $4.4M | Reduce -5.1% |
| VNQ Vanguard Real Estate ETF | 0.23% | 48,580 | $4.3M | Reduce -1.2% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.23% | 16,165 | $4.2M | Add +9.8% |
| VEA Vanguard Ftse Developed ETF | 0.22% | 63,956 | $4.0M | Add +11.8% |
| VUSB Vanguard Ultra Short Bond Et | 0.21% | 79,596 | $4.0M | Add +320.2% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.21% | 12,592 | $4.0M | Add +0.7% |
| DTH Wisdomtree International Hig | 0.21% | 74,657 | $3.9M | Reduce -4.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.20% | 19,568 | $3.7M | Add +4.8% |
| TSLA Tesla Inc. | 0.20% | 8,230 | $3.7M | Reduce -8.7% |
| DFAR Dimensional US Real Est ETF | 0.20% | 160,324 | $3.7M | Add +1.3% |
| DIHP Dimensional International Hi | 0.19% | 113,404 | $3.6M | Add +1.3% |
| VSS Vanguard Ftse All Wo X-US SC | 0.19% | 24,656 | $3.5M | Add +1.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.19% | 39,034 | $3.5M | Add +16.3% |
| IVV iShares Core S&P 500 ETF | 0.19% | 5,034 | $3.4M | Add +3.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.18% | 46,293 | $3.4M | Reduce -0.4% |
| DUHP Dimensional US High Profi Et | 0.18% | 88,813 | $3.4M | Add +2.2% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.18% | 15,818 | $3.4M | Add +2.3% |
| EFA iShares MSCI Eafe ETF | 0.18% | 34,637 | $3.3M | Reduce -0.6% |
| DES Wisdomtree US Smallcap Divid | 0.18% | 98,046 | $3.3M | Add +0.3% |
| IWD iShares Russell 1000 Value E | 0.16% | 14,233 | $3.0M | Reduce -0.7% |
| DFAE Dimensional Emerging Core Eq | 0.16% | 91,730 | $3.0M | Reduce -12.1% |
| VYMI Vanguard Int High DVD YLD Inc. | 0.15% | 31,741 | $2.9M | Add +0.1% |
| VWO Vanguard Ftse Emerging Marke | 0.15% | 51,724 | $2.8M | Add +0.5% |
| AVGE Avantis All Eqty Mrkts ETF | 0.15% | 32,261 | $2.8M | Add +10.4% |
| VPL Vanguard Ftse Pacific ETF | 0.15% | 30,207 | $2.7M | Reduce -2.5% |
| AMD Advanced Micro Devices | 0.15% | 12,630 | $2.7M | Add +0.6% |
| JNJ Johnson & Johnson | 0.15% | 12,991 | $2.7M | Add +0.0% |
| IVW iShares S&P 500 Growth ETF | 0.14% | 21,423 | $2.6M | Add +0.3% |
| BSV Vanguard Short-Term Bond ETF | 0.14% | 33,369 | $2.6M | Add +42.6% |
| CVX Chevron Corp. | 0.14% | 17,208 | $2.6M | Add +3.5% |
| VTES Vanguard SH Term Tax-Ex Bond | 0.14% | 25,468 | $2.6M | Reduce -1.3% |
| VGK Vanguard Ftse Europe ETF | 0.14% | 30,293 | $2.5M | Reduce -3.7% |
| AVUV Avantis US Small Cap Value | 0.14% | 24,788 | $2.5M | Add +29.2% |
| IJR iShares Core S&P Small-Cap E | 0.14% | 20,850 | $2.5M | Add +2.8% |
| XOM Exxon Mobil Corp. | 0.13% | 20,688 | $2.5M | Reduce -5.2% |
| OKE Oneok Inc. | 0.13% | 33,348 | $2.5M | Add +0.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.13% | 4,833 | $2.4M | Add +1.4% |
| VGT Vanguard Info Tech ETF | 0.13% | 3,082 | $2.3M | Add +3.9% |
| DFNM Dimensional National Muni BD | 0.12% | 47,782 | $2.3M | Reduce -1.8% |
| IWC iShares Micro-Cap ETF | 0.12% | 14,253 | $2.2M | Add +4.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.11% | 8,257 | $2.1M | Add +0.9% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.11% | 25,781 | $2.1M | Add +7.1% |
| AVGV Avantis All Eq MKTS Val ETF | 0.11% | 27,262 | $2.0M | Add +5.7% |
| DVY iShares Select Dividend ETF | 0.11% | 14,074 | $2.0M | Add +0.1% |
| AVUS Avantis U.S. Equity ETF | 0.10% | 17,222 | $1.9M | Add +48.5% |
| BND Vanguard Total Bond Market | 0.10% | 25,761 | $1.9M | Reduce -39.8% |
| AVDE Avantis International Equity | 0.10% | 22,641 | $1.9M | Add +0.8% |
| SCHX Schwab US Large-Cap ETF | 0.10% | 68,660 | $1.8M | Add +2.9% |
| VFH Vanguard Financials ETF | 0.10% | 13,787 | $1.8M | Add +1.0% |
| AVDV Avantis Intl S/C Value ETF | 0.10% | 19,585 | $1.8M | Reduce -9.1% |
| SCHF Schwab Intl Equity ETF | 0.10% | 75,977 | $1.8M | Add +1.8% |
| SCHD Schwab US DVD Equity ETF | 0.10% | 66,554 | $1.8M | Add +7.8% |
| VDE Vanguard Energy ETF | 0.09% | 13,820 | $1.7M | Add +0.3% |
| IYR iShares US Real Estate ETF | 0.09% | 18,419 | $1.7M | No change |
| VCR Vanguard Consumer Discre ETF | 0.09% | 4,381 | $1.7M | Add +0.1% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $617K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 251 | $314K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 250 | $303K | No change |
Total filed on the 13F, all lines: $1.9B.
Portfolio Sells Q3 2025 → Q4 2025
| METV Roundhill Ball Metaverse ETF | Reduce -39.7% | 1.36% | −1.26 |
| AAPL Apple Inc. | Reduce -11.0% | 3.89% | −0.39 |
| PHYS Sprott Physical Gold Trust | Reduce -10.1% | 7.27% | −0.31 |
| NVDA Nvidia Corp. | Reduce -25.8% | 0.58% | −0.24 |
| ABCS Alpha Blue Cap US S-M DYN | Sold out | 0.00% | −0.17 |
| AMZN Amazon.com Inc. | Reduce -22.2% | 0.42% | −0.12 |
| DFAT Dimensional US Target Value | Reduce -1.1% | 3.48% | −0.11 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -1.1% | 2.95% | −0.10 |
| MSFT Microsoft Corp. | Reduce -1.2% | 0.73% | −0.10 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -11.2% | 0.55% | −0.10 |
| DFAX Dimensional World Ex US Core | Reduce -2.0% | 4.07% | −0.09 |
| BND Vanguard Total Bond Market | Reduce -39.8% | 0.10% | −0.08 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.07 |
| BNDX Vanguard Total Intl Bond ETF | Reduce -72.7% | 0.02% | −0.05 |
| CORT Corcept Therapeutics Inc. | Reduce -8.2% | 0.02% | −0.04 |
| ALRM Alarm.com Holdings Inc. | Reduce -0.3% | 0.47% | −0.04 |
| ORCL Oracle Corp. | Reduce -0.8% | 0.05% | −0.03 |
| TSLA Tesla Inc. | Reduce -8.7% | 0.20% | −0.03 |
| GOOG Alphabet Inc. Class C | Reduce -19.7% | 2.51% | −0.02 |
| DFAE Dimensional Emerging Core Eq | Reduce -12.1% | 0.16% | −0.02 |
| VNQ Vanguard Real Estate ETF | Reduce -1.2% | 0.23% | −0.02 |
| VIG Vanguard Dividend Apprec ETF | Reduce -5.1% | 0.24% | −0.02 |
| WMT Walmart Inc. | Reduce -41.7% | 0.03% | −0.02 |
| IWF iShares Russell 1000 Growth | Reduce -3.2% | 0.25% | −0.02 |
| DHS Wisdomtree US High Dividend | Reduce -0.3% | 0.44% | −0.02 |
| NOW ServiceNow Inc. | Reduce -13.3% | 0.03% | −0.02 |
| AVIV Avantis Intl LRG Cap Val ETF | Reduce -25.8% | 0.04% | −0.01 |
| IJS iShares S&P Small-Cap 600 Va | Reduce -1.2% | 0.48% | −0.01 |
| SCHP Schwab U.S. Tips ETF | Sold out | 0.00% | −0.01 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.01 |
| CMG Chipotle Mexican Grill Inc. | Sold out | 0.00% | −0.01 |
| SHW The Sherwin-Williams Co. | Sold out | 0.00% | −0.01 |
| AVES Avantis Emerging Markets Val | Sold out | 0.00% | −0.01 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.01 |
| DLS Wisdomtree Intl S/C DVD Fund | Reduce -0.3% | 0.37% | −0.01 |
| PG The Procter & Gamble Co. | Reduce -0.4% | 0.07% | −0.01 |
| AVDV Avantis Intl S/C Value ETF | Reduce -9.1% | 0.10% | −0.01 |
| VTES Vanguard SH Term Tax-Ex Bond | Reduce -1.3% | 0.14% | −0.01 |
| DTH Wisdomtree International Hig | Reduce -4.1% | 0.21% | −0.01 |
| HD Home Depot Inc. | Reduce -2.0% | 0.03% | −0.01 |
| MO Altria Group Inc. | Reduce -18.1% | 0.02% | −0.01 |
| NGD New Gold Inc. | Sold out | 0.00% | −0.01 |
| PM Philip Morris International | Reduce -10.0% | 0.04% | −0.01 |
| DFNM Dimensional National Muni BD | Reduce -1.8% | 0.12% | −0.01 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -8.3% | 0.05% | −0.01 |
| VPL Vanguard Ftse Pacific ETF | Reduce -2.5% | 0.15% | −0.01 |
| SGOV iShares 0-3 Month Treasury B | Reduce -7.6% | 0.04% | −0.01 |
| LLY Eli Lilly & Co. | Reduce -35.0% | 0.04% | −0.01 |
| VBK Van Morst SML-Cap Gro-Usd Inc. | Reduce -18.2% | 0.02% | −0.01 |
| VGK Vanguard Ftse Europe ETF | Reduce -3.7% | 0.14% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| VBIL Vanguard 0-3M T-Bill ETF | Add +39.8% | 7.75% | +1.94 |
| DFIV Dimensional International Va | Add +2.2% | 3.74% | +0.21 |
| VUSB Vanguard Ultra Short Bond Et | Add +320.2% | 0.21% | +0.16 |
| DISV Dimensional International SM | Add +4.1% | 2.34% | +0.13 |
| SLV iShares Silver Trust | Add +4.7% | 0.34% | +0.12 |
| DFSV Dimensional US Small Cap Val | Add +7.8% | 1.82% | +0.11 |
| VOO Vanguard S&P 500 ETF | Add +9.5% | 1.63% | +0.11 |
| DFLV Dim US Large Cap Value ETF | Add +10.3% | 0.97% | +0.09 |
| DFAI Dimensional International Co. | Add +6.6% | 1.24% | +0.08 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +12.6% | 0.81% | +0.06 |
| DFIS Dimensional International SM | Add +2.9% | 2.38% | +0.06 |
| DFUS Dimensional US Eq MKT ETF | Add +3.5% | 3.81% | +0.05 |
| GNMA iShares Gnma Bond ETF | New | 0.05% | +0.05 |
| DFAW Dimensional World Eqty ETF | Add +18.5% | 0.34% | +0.05 |
| DFEV Dimensional Emrg MRKT Val | Add +3.6% | 1.00% | +0.05 |
| BIV Vanguard Intermediate-Term B | Add +154.1% | 0.08% | +0.04 |
| BABA Alibaba Group Holding-SP ADR | New | 0.04% | +0.04 |
| BSV Vanguard Short-Term Bond ETF | Add +42.6% | 0.14% | +0.04 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +253.0% | 0.05% | +0.04 |
| DFIC Dimensional International Co. | Add +1.8% | 1.49% | +0.03 |
| AVUS Avantis U.S. Equity ETF | Add +48.5% | 0.10% | +0.03 |
| AMD Advanced Micro Devices | Add +0.6% | 0.15% | +0.03 |
| DFUV Dimensional US Marketwide Va | Add +1.2% | 3.35% | +0.03 |
| AVUV Avantis US Small Cap Value | Add +29.2% | 0.14% | +0.03 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +72.1% | 0.07% | +0.03 |
| BITB Bitwise Bitcoin ETF | New | 0.03% | +0.03 |
| VTIP Vanguard Short-Term Tips | Add +48.5% | 0.08% | +0.02 |
| IEFA iShares Core MSCI Eafe ETF | Add +16.3% | 0.19% | +0.02 |
| VEA Vanguard Ftse Developed ETF | Add +11.8% | 0.22% | +0.02 |
| IXUS iShares Core Intl Stock ETF | New | 0.02% | +0.02 |
| VNQI Vanguard GLBL Ex-US Real Est | Add +78.9% | 0.05% | +0.02 |
| ITOT iShares Core S&P Total U.S. | Add +65.9% | 0.05% | +0.02 |
| AKRE Akre Focus ETF | New | 0.02% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +114.3% | 0.03% | +0.02 |
| DFEM Dimensional Emrg MRKT Core | Add +2.9% | 1.03% | +0.02 |
| AVSF Avantis Short-Term Fixed Inc. | New | 0.02% | +0.02 |
| IEMG iShares Core MSCI Emerging | Add +27.1% | 0.07% | +0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +9.8% | 0.23% | +0.01 |
| DXIV Dimensional Intr Vtor E ETF | Add +17.9% | 0.09% | +0.01 |
| NYF iShares New York Muni Bond E | New | 0.01% | +0.01 |
| FDX FedEx Corp. | New | 0.01% | +0.01 |
| BSVO EA Bridgeway Omni Sm-Cp Val | Add +6.3% | 0.29% | +0.01 |
| VGSH Vanguard Short-Term Treasury | New | 0.01% | +0.01 |
| AVGE Avantis All Eqty Mrkts ETF | Add +10.4% | 0.15% | +0.01 |
| SGDM Sprott Gold Miners ETF | New | 0.01% | +0.01 |
| ACN Accenture PLC Class A | Add +0.1% | 0.27% | +0.01 |
| PPTA Perpetua Resources Corp. | New | 0.01% | +0.01 |
| MUB iShares National Muni Bond E | Add +74.1% | 0.02% | +0.01 |
| JNJ Johnson & Johnson | Add +0.0% | 0.15% | +0.01 |
| VCIT Vanguard Int-Term Corporate | Add +45.7% | 0.03% | +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 |