Evergreen Capital Management LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Evergreen Capital Management LLC reported 1,085 stock positions worth $3.0 billion. Its top holding was Microsoft (MSFT) at 2.9% of the portfolio, followed by Apple (AAPL, 2.6%) and Paccar (PCAR, 2.2%). Compared with Q4 2024, it opened 130 new positions, sold out of 109, added to 519 and reduced 355. The biggest buy was Simplify MBS ETF (MTBA, shares +43%) and the biggest sale Vanguard Mortgage-Backed Sec (VMBS, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- Bellevue, WA
- CIK
- 0001260824
- Portfolio Value
- $3.0B (Q1 2025)
- SEC Filing
- 0001172661-25-002001 ↗ filed May 15, 2025
Holdings Value
Holdings 1,085 stocks · $3.0B
| MSFT Microsoft Corp. | 2.86% | 226,692 | $85.1M | Reduce -0.1% |
| AAPL Apple Inc. | 2.61% | 349,609 | $77.7M | Reduce -2.4% |
| PCAR Paccar Inc. | 2.20% | 673,454 | $65.6M | Reduce -3.0% |
| IEI iShares 3-7 Year Treasury Bo | 2.12% | 535,161 | $63.2M | Add +8.9% |
| MTBA Simplify MBS ETF | 1.78% | 1,058,867 | $53.1M | Add +42.7% |
| JAAA Janus Henderson Aaa Clo ETF | 1.67% | 977,975 | $49.6M | Reduce -1.6% |
| AMZN Amazon.com Inc. | 1.58% | 247,050 | $47.0M | Add +1.9% |
| GOOG Alphabet Inc. Class C | 1.32% | 250,743 | $39.2M | Reduce -4.4% |
| NVDA Nvidia Corp. | 1.26% | 345,922 | $37.5M | Reduce -0.0% |
| BINC iShares Flex I A ETF-Usd Inc. | 1.09% | 619,935 | $32.5M | Add +4.4% |
| EPD Enterprise Products Partners | 1.09% | 949,326 | $32.4M | Reduce -6.0% |
| GOOGL Alphabet Inc. Class A | 1.07% | 207,021 | $32.0M | Add +1.1% |
| VNQ Vanguard Real Estate ETF | 1.00% | 330,000 | $29.9M | Add +8.4% |
| SHY iShares 1-3 Year Treasury Bo | 1.00% | 359,072 | $29.7M | Reduce -12.6% |
| ANGL Vaneck Fallen Angel High YLD | 0.97% | 1,006,173 | $29.0M | Reduce -2.6% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.96% | 77,099 | $28.6M | Reduce -3.8% |
| DMBS Doubleline Mortgage ETF | 0.94% | 568,595 | $27.9M | Add +123.8% |
| SPTS SS SPDR P St Term TSY ETF | 0.92% | 933,723 | $27.3M | Reduce -17.1% |
| IXC iShares Global Energy ETF | 0.86% | 608,099 | $25.6M | Reduce -0.5% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.86% | 147,558 | $25.5M | Add +19.4% |
| MLPA Global X MLP ETF | 0.85% | 473,562 | $25.2M | Reduce -5.0% |
| EMLC Vaneck JPM Em Local Curr BND | 0.81% | 1,009,356 | $24.1M | Add +0.5% |
| JPM JPMorgan Chase & Co. | 0.73% | 89,079 | $21.9M | Reduce -28.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.72% | 40,309 | $21.5M | Add +10.3% |
| SPHQ Invesco S&P 500 Quality ETF | 0.71% | 319,604 | $21.2M | Add +5.1% |
| UBER Uber Technologies Inc. | 0.67% | 274,071 | $20.0M | Reduce -2.9% |
| TEI Templeton Emrg MKTS Inc. | 0.67% | 3,689,293 | $19.8M | Add +1.7% |
| CSCO Cisco Systems Inc. | 0.65% | 313,753 | $19.4M | Reduce -7.5% |
| PAVE Global X US Infrastructure | 0.63% | 494,581 | $18.7M | Add +14.6% |
| VDE Vanguard Energy ETF | 0.61% | 139,602 | $18.1M | Add +2.5% |
| AESI Atlas Energy Solutions Inc. | 0.60% | 1,000,728 | $17.9M | Add +7.4% |
| META Meta Platforms Inc. Class A | 0.59% | 30,725 | $17.7M | Reduce -0.6% |
| AES AES Corp. | 0.59% | 1,415,300 | $17.6M | Add +11.3% |
| EDD Morgan Stanley Emrg MRK Dom | 0.59% | 3,595,128 | $17.5M | Reduce -0.1% |
| COST Costco Wholesale Corp. | 0.57% | 18,088 | $17.1M | Reduce -9.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.57% | 30,418 | $17.1M | Add +2.0% |
| JBBB Janus Henderson B-BBB Clo Et | 0.57% | 348,530 | $17.0M | Reduce -9.5% |
| ET Energy Transfer LP | 0.56% | 896,555 | $16.7M | Reduce -6.8% |
| QCOM Qualcomm Inc. | 0.54% | 104,137 | $16.0M | Reduce -3.4% |
| FANG Diamondback Energy Inc. | 0.53% | 99,430 | $15.9M | Add +64.5% |
| OKE Oneok Inc. | 0.52% | 157,078 | $15.6M | Add +114.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.52% | 32,917 | $15.5M | Reduce -1.8% |
| UPS United Parcel Service Class B | 0.52% | 140,234 | $15.4M | Reduce -11.4% |
| VOO Vanguard S&P 500 ETF | 0.52% | 30,001 | $15.4M | Add +18.6% |
| PAGP Plains GP Holdings LP | 0.51% | 716,698 | $15.3M | Reduce -28.7% |
| DOCU Docusign Inc. | 0.51% | 186,667 | $15.2M | Reduce -28.2% |
| SGOV iShares 0-3 Month Treasury B | 0.51% | 150,274 | $15.1M | Add +102.8% |
| NKE Nike Inc. Class B | 0.49% | 228,204 | $14.6M | Reduce -3.8% |
| MRK Merck & Co. Inc. | 0.49% | 159,559 | $14.4M | Add +43.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.45% | 323,578 | $13.5M | Reduce -0.7% |
| IFRA iShares US Infrastructure | 0.45% | 297,001 | $13.4M | Add +0.3% |
| IVV iShares Core S&P 500 ETF | 0.45% | 23,715 | $13.3M | Reduce -1.0% |
| FAX Abrdn Asia-Pacific Income | 0.44% | 837,332 | $13.1M | Add +0.1% |
| VEU Vanguard Ftse All-World Ex-U | 0.44% | 215,888 | $13.1M | Add +10.6% |
| VIG Vanguard Dividend Apprec ETF | 0.43% | 66,722 | $12.9M | Reduce -2.2% |
| REZ Ishars Res and Multi Reales | 0.43% | 149,599 | $12.9M | Reduce -3.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.43% | 170,406 | $12.9M | Add +8.8% |
| LYB Lyondellbasell Indu Class A | 0.43% | 182,507 | $12.8M | Add +1168.5% |
| SHEL Shell PLC-ADR | 0.43% | 173,898 | $12.7M | Reduce -20.6% |
| CEF Sprott Physical Gold and Sil | 0.41% | 434,972 | $12.4M | Reduce -22.9% |
| ORCL Oracle Corp. | 0.41% | 87,802 | $12.3M | Reduce -15.8% |
| GBIL Goldman Sachs Access Treasur | 0.41% | 122,400 | $12.3M | Add +166.5% |
| DELL Dell Technologies -C | 0.40% | 132,006 | $12.0M | Add +26.9% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.40% | 368,112 | $12.0M | Reduce -1.9% |
| TTE Totalenergies SE -Spon ADR | 0.40% | 180,745 | $11.8M | Add +305.3% |
| IJR iShares Core S&P Small-Cap E | 0.40% | 112,749 | $11.8M | Add +5.0% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.39% | 65,284 | $11.7M | Add +1521.6% |
| IWS iShares Russell Mid-Cap Valu | 0.39% | 91,742 | $11.6M | Add +2.0% |
| PYPL PayPal Holdings Inc. | 0.38% | 174,017 | $11.4M | Add +12.7% |
| J Jacobs Solutions Inc. | 0.38% | 93,498 | $11.3M | Add +35.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.38% | 113,879 | $11.2M | Reduce -2.5% |
| BDX Becton Dickinson and Co. | 0.37% | 47,905 | $11.0M | Reduce -5.5% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.36% | 151,393 | $10.7M | Add +377.5% |
| PANW Palo Alto Networks Inc. | 0.36% | 62,253 | $10.6M | Reduce -4.3% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.36% | 107,430 | $10.6M | Add +6.7% |
| PFE Pfizer Inc. | 0.36% | 417,343 | $10.6M | Reduce -14.3% |
| MPLX MPLX LP | 0.35% | 195,263 | $10.5M | Reduce -9.6% |
| TSM Taiwan Semiconductor-SP ADR | 0.35% | 61,996 | $10.3M | Reduce -22.6% |
| ABBV Abbvie Inc. | 0.34% | 48,697 | $10.2M | Reduce -15.5% |
| MLPX Global X MLP & Energy Infras | 0.34% | 157,148 | $10.0M | Reduce -62.6% |
| BABA Alibaba Group Holding-SP ADR | 0.33% | 74,155 | $9.8M | Reduce -13.0% |
| DAL Delta Air Lines Inc. | 0.33% | 224,071 | $9.8M | Add +13.1% |
| FDX FedEx Corp. | 0.32% | 39,119 | $9.6M | Add +1.8% |
| CRM Salesforce Inc. | 0.32% | 35,665 | $9.6M | Add +1.4% |
| JNJ Johnson & Johnson | 0.32% | 57,627 | $9.6M | Reduce -47.0% |
| LMT Lockheed Martin Corp. | 0.32% | 21,230 | $9.5M | Add +91.0% |
| AVGO Broadcom Inc. | 0.32% | 56,593 | $9.5M | Reduce -10.5% |
| CRH CRH PLC | 0.32% | 106,162 | $9.4M | Reduce -28.2% |
| UNH Unitedhealth Group Inc. | 0.31% | 17,867 | $9.4M | Add +1.3% |
| USMV iShares MSCI USA Min Vol Fac | 0.31% | 99,166 | $9.3M | Add +5.3% |
| DFAE Dimensional Emerging Core Eq | 0.30% | 344,790 | $8.9M | Reduce -6.7% |
| CHE Chemed Corp. | 0.30% | 14,331 | $8.8M | Reduce -5.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.30% | 134,000 | $8.8M | Add +243.6% |
| SCHW Schwab (charles) Corp. | 0.30% | 112,538 | $8.8M | Reduce -25.2% |
| C Citigroup Inc. | 0.29% | 122,921 | $8.7M | Reduce -2.4% |
| AMT American Tower Corp. | 0.29% | 39,749 | $8.6M | Reduce -0.8% |
| PSLV Sprott Physical Silver Trust | 0.29% | 739,518 | $8.6M | Reduce -4.5% |
| CQQQ Invesco China Technology ETF | 0.29% | 193,437 | $8.6M | New |
| AMLP Alerian MLP ETF | 0.29% | 164,745 | $8.6M | Add +0.6% |
| O Realty Income Corp. | 0.28% | 144,861 | $8.4M | Reduce -5.7% |
Options reported separately and not counted above: MSFT puts ($225K), AVGO calls ($167K), AAPL calls ($111K), SPYM puts ($66K), GDX puts ($23K), NVDA calls ($22K).
Portfolio Sells Q4 2024 → Q1 2025
| VMBS Vanguard Mortgage-Backed Sec | Reduce -82.7% | 0.14% | −0.64 |
| MLPX Global X MLP & Energy Infras | Reduce -62.6% | 0.34% | −0.49 |
| ENLC Enlink Midstream LLC | Sold out | 0.00% | −0.39 |
| AAPL Apple Inc. | Reduce -2.4% | 2.61% | −0.31 |
| GOOG Alphabet Inc. Class C | Reduce -4.4% | 1.32% | −0.31 |
| STR Sitio Royalties Corp. Class A | Reduce -97.1% | 0.01% | −0.30 |
| MSFT Microsoft Corp. | Reduce -0.1% | 2.86% | −0.26 |
| NVDA Nvidia Corp. | Reduce -0.0% | 1.26% | −0.25 |
| DOCU Docusign Inc. | Reduce -28.2% | 0.51% | −0.25 |
| JPM JPMorgan Chase & Co. | Reduce -28.5% | 0.73% | −0.24 |
| PCAR Paccar Inc. | Reduce -3.0% | 2.20% | −0.22 |
| KMI Kinder Morgan Inc. | Reduce -78.3% | 0.07% | −0.21 |
| GDX Vaneck Gold Miners ETF | Reduce -79.5% | 0.08% | −0.20 |
| TSLA Tesla Inc. | Reduce -11.7% | 0.27% | −0.19 |
| JNJ Johnson & Johnson | Reduce -47.0% | 0.32% | −0.19 |
| XIFR XPLR Infrastructure LP | Sold out | 0.00% | −0.19 |
| WHR Whirlpool Corp. | Sold out | 0.00% | −0.18 |
| IVW iShares S&P 500 Growth ETF | Reduce -34.9% | 0.28% | −0.17 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -22.6% | 0.35% | −0.17 |
| AVGO Broadcom Inc. | Reduce -10.5% | 0.32% | −0.16 |
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −0.15 |
| ORCL Oracle Corp. | Reduce -15.8% | 0.41% | −0.15 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -17.1% | 0.92% | −0.15 |
| FCX Freeport-McMoran Inc. | Reduce -87.0% | 0.02% | −0.14 |
| UPS United Parcel Service Class B | Reduce -11.4% | 0.52% | −0.13 |
| NTAP Netapp Inc. | Sold out | 0.00% | −0.13 |
| CRH CRH PLC | Reduce -28.2% | 0.32% | −0.13 |
| CHKP Check Point Software Tech | Reduce -88.7% | 0.02% | −0.13 |
| CTRA Coterra Energy Inc. | Reduce -50.2% | 0.17% | −0.12 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -3.8% | 0.96% | −0.11 |
| VAL Valaris Ltd. | Sold out | 0.00% | −0.11 |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | Reduce -74.3% | 0.04% | −0.11 |
| SHY iShares 1-3 Year Treasury Bo | Reduce -12.6% | 1.00% | −0.10 |
| NKE Nike Inc. Class B | Reduce -3.8% | 0.49% | −0.10 |
| LULU Lululemon Athletica Inc. | Reduce -4.1% | 0.27% | −0.10 |
| EA Electronic Arts Inc. | Reduce -86.0% | 0.02% | −0.09 |
| GDXJ Vaneck Junior Gold Miners | Reduce -84.4% | 0.03% | −0.09 |
| CCEP Coca-Cola Europacific Partne | Sold out | 0.00% | −0.09 |
| RH RH | Reduce -4.0% | 0.13% | −0.09 |
| MCK McKesson Corp. | Reduce -62.3% | 0.08% | −0.09 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.09 |
| PAGP Plains GP Holdings LP | Reduce -28.7% | 0.51% | −0.09 |
| EWJ iShares MSCI Japan ETF | Reduce -38.4% | 0.14% | −0.08 |
| RPRX Royalty Pharma PLC Class A | Reduce -86.5% | 0.02% | −0.07 |
| RYAAY Ryanair Holdings PLC-SP ADR | Sold out | 0.00% | −0.07 |
| EQT Eqt Corp. | Reduce -33.2% | 0.27% | −0.07 |
| SCHW Schwab (charles) Corp. | Reduce -25.2% | 0.30% | −0.07 |
| ARCC Ares Capital Corp. | Reduce -27.5% | 0.20% | −0.07 |
| PFE Pfizer Inc. | Reduce -14.3% | 0.36% | −0.07 |
| IBTA Ibotta Inc. Class A | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| MTBA Simplify MBS ETF | Add +42.7% | 1.78% | +0.58 |
| DMBS Doubleline Mortgage ETF | Add +123.8% | 0.94% | +0.54 |
| LYB Lyondellbasell Indu Class A | Add +1168.5% | 0.43% | +0.40 |
| MTB M & T Bank Corp. | Add +1521.6% | 0.39% | +0.37 |
| TTE Totalenergies SE -Spon ADR | Add +305.3% | 0.40% | +0.32 |
| CQQQ Invesco China Technology ETF | New | 0.29% | +0.29 |
| OKE Oneok Inc. | Add +114.3% | 0.52% | +0.28 |
| IEI iShares 3-7 Year Treasury Bo | Add +8.9% | 2.12% | +0.27 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +377.5% | 0.36% | +0.27 |
| SGOV iShares 0-3 Month Treasury B | Add +102.8% | 0.51% | +0.27 |
| GBIL Goldman Sachs Access Treasur | Add +166.5% | 0.41% | +0.26 |
| TGT Target Corp. | Add +622.1% | 0.27% | +0.23 |
| FANG Diamondback Energy Inc. | Add +64.5% | 0.53% | +0.21 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +243.6% | 0.30% | +0.21 |
| REM iShares Mortgage Real Estate | Add +727.0% | 0.23% | +0.20 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +10.3% | 0.72% | +0.18 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +19.4% | 0.86% | +0.17 |
| PEP Pepsico Inc. | Add +252.9% | 0.24% | +0.17 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Add +196.4% | 0.23% | +0.16 |
| LMT Lockheed Martin Corp. | Add +91.0% | 0.32% | +0.14 |
| PYLD PIMCO Multisector Bond Actv | New | 0.13% | +0.13 |
| MRK Merck & Co. Inc. | Add +43.3% | 0.49% | +0.12 |
| VNQ Vanguard Real Estate ETF | Add +8.4% | 1.00% | +0.12 |
| GD General Dynamics Corp. | Add +309.1% | 0.15% | +0.11 |
| UTHR United Therapeutics Corp. | Add +806.8% | 0.13% | +0.11 |
| INMD Inmode Ltd. | New | 0.11% | +0.11 |
| EWZ iShares MSCI Brazil ETF | Add +35.7% | 0.27% | +0.10 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +184.8% | 0.15% | +0.09 |
| MCHI iShares MSCI China ETF | Add +72.1% | 0.17% | +0.09 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +4.4% | 1.09% | +0.08 |
| IIF Morgan Stanley India Invest | New | 0.08% | +0.08 |
| J Jacobs Solutions Inc. | Add +35.3% | 0.38% | +0.08 |
| VEU Vanguard Ftse All-World Ex-U | Add +10.6% | 0.44% | +0.07 |
| IEFA iShares Core MSCI Eafe ETF | Add +8.8% | 0.43% | +0.07 |
| VOO Vanguard S&P 500 ETF | Add +18.6% | 0.52% | +0.07 |
| VDE Vanguard Energy ETF | Add +2.5% | 0.61% | +0.07 |
| IBHF iShares Ibond 2026 HY & Inc. | Add +64.0% | 0.16% | +0.07 |
| TEI Templeton Emrg MKTS Inc. | Add +1.7% | 0.67% | +0.06 |
| AES AES Corp. | Add +11.3% | 0.59% | +0.06 |
| PAVE Global X US Infrastructure | Add +14.6% | 0.63% | +0.06 |
| BG Bunge Global SA | Add +63.0% | 0.14% | +0.05 |
| EMLC Vaneck JPM Em Local Curr BND | Add +0.5% | 0.81% | +0.05 |
| PHYS Sprott Physical Gold Trust | Add +8.7% | 0.21% | +0.05 |
| SPHQ Invesco S&P 500 Quality ETF | Add +5.1% | 0.71% | +0.05 |
| KWEB Kranesh Csi China Internet | Add +21.1% | 0.14% | +0.05 |
| CVX Chevron Corp. | Add +4.8% | 0.23% | +0.04 |
| EWW iShares MSCI Mexico ETF | Add +55.4% | 0.10% | +0.04 |
| USMV iShares MSCI USA Min Vol Fac | Add +5.3% | 0.31% | +0.04 |
| NEM Newmont Corp. | Add +5.0% | 0.14% | +0.04 |
| XOM Exxon Mobil Corp. | Add +4.2% | 0.24% | +0.04 |
Options Activity Q4 2024 → Q1 2025
| MSFT Microsoft Corp. | put | New | 600 | $225K |
| GOOG Alphabet Inc. Class C | call | Sold out | 1,000 | $190Kbefore exit |
| AVGO Broadcom Inc. | call | New | 1,000 | $167K |
| AAPL Apple Inc. | call | New | 500 | $111K |
| SPYM Ste STR SPDR PT S&P 500 ETF | put | New | 1,000 | $66K |
| GDX Vaneck Gold Miners ETF | put | New | 500 | $23K |
| NVDA Nvidia Corp. | call | New | 200 | $22K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,522 | $5.7B | IEMG, GS, AAPL, COF, MSFT |
| Q1 2026 | 1,498 | $4.6B | IEMG, AAPL, PCAR, IEI, MSFT |
| Q4 2025 | 1,399 | $4.5B | MSFT, AAPL, IEMG, IEI, PCAR |
| Q3 2025 | 1,302 | $4.2B | GS, MSFT, AAPL, IEI, COF |
| Q2 2025 | 1,126 | $3.3B | MSFT, IEI, PCAR, AAPL, NVDA |
| Q1 2025 | 1,085 | $3.0B | MSFT, AAPL, PCAR, IEI, MTBA |
| Q4 2024 | 1,064 | $3.1B | MSFT, AAPL, PCAR, IEI, AMZN |
| Q3 2024 | 1,002 | $3.0B | MSFT, AAPL, PCAR, DIV, IEI |
| Q2 2024 | 948 | $2.8B | MSFT, AAPL, PCAR, IEI, SPTS |
| Q1 2024 | 872 | $2.6B | MSFT, PCAR, AAPL, NORW, SPTS |