Evergreen Capital Management LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 28, 2025), Evergreen Capital Management LLC reported 1,302 stock positions worth $4.2 billion. Its top holding was Goldman Sachs (GS) at 4.0% of the portfolio, followed by Microsoft (MSFT, 2.9%) and Apple (AAPL, 2.3%). Compared with Q2 2025, it opened 227 new positions, sold out of 51, added to 728 and reduced 233. The biggest buy was Goldman Sachs (GS, shares +11400%) and the biggest sale United Parcel Service Class B (UPS, shares −95%).
- Most Recent 13F
- Q2 2026
- Location
- Bellevue, WA
- CIK
- 0001260824
- Portfolio Value
- $4.2B (Q3 2025)
- SEC Filing
- 0001172661-25-004467 ↗ filed Oct 28, 2025
Holdings Value
Holdings 1,302 stocks · $4.2B
| GS Goldman Sachs Group Inc. | 4.02% | 212,180 | $169.0M | Add +11400.3% |
| MSFT Microsoft Corp. | 2.86% | 232,005 | $120.2M | Add +4.1% |
| AAPL Apple Inc. | 2.26% | 373,750 | $95.2M | Add +7.7% |
| IEI iShares 3-7 Year Treasury Bo | 2.19% | 770,585 | $92.1M | Add +20.7% |
| COF Capital One Financial Corp. | 1.87% | 369,538 | $78.6M | Add +5275.9% |
| PCAR Paccar Inc. | 1.86% | 793,659 | $78.0M | Add +2.2% |
| NVDA Nvidia Corp. | 1.69% | 381,181 | $71.1M | Add +9.7% |
| GOOG Alphabet Inc. Class C | 1.48% | 255,406 | $62.2M | Reduce -2.1% |
| SHY iShares 1-3 Year Treasury Bo | 1.46% | 742,068 | $61.6M | Add +111.8% |
| OVV Ovintiv Inc. | 1.45% | 1,507,331 | $60.9M | New |
| GOOGL Alphabet Inc. Class A | 1.40% | 242,393 | $58.9M | Add +5.9% |
| AMZN Amazon.com Inc. | 1.40% | 267,190 | $58.7M | Add +9.2% |
| MTBA Simplify MBS ETF | 1.28% | 1,067,387 | $53.7M | Reduce -0.6% |
| JD Jd.com Inc.-ADR | 1.23% | 1,479,161 | $51.7M | New |
| JAAA Janus Henderson Aaa Clo ETF | 1.11% | 921,812 | $46.8M | Reduce -2.4% |
| ECHO Echostar Corp. Class A | 0.95% | 522,022 | $39.9M | Add +6942.9% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.89% | 745,522 | $37.3M | No change |
| BINC iShares Flex I A ETF-Usd Inc. | 0.81% | 642,226 | $34.2M | Reduce -0.7% |
| VNQ Vanguard Real Estate ETF | 0.81% | 372,585 | $34.1M | Add +3.4% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.81% | 181,600 | $34.0M | Add +2.0% |
| DMBS Doubleline Mortgage ETF | 0.78% | 660,111 | $32.8M | Add +2.2% |
| SGOV iShares 0-3 Month Treasury B | 0.69% | 287,551 | $29.0M | Add +39.0% |
| JPM JPMorgan Chase & Co. | 0.68% | 90,432 | $28.5M | Reduce -1.9% |
| EPD Enterprise Products Partners | 0.68% | 908,159 | $28.4M | Reduce -4.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.66% | 57,922 | $27.8M | Add +0.1% |
| META Meta Platforms Inc. Class A | 0.64% | 36,877 | $27.1M | Add +11.5% |
| EMLC Vaneck JPM Em Local Curr BND | 0.64% | 1,058,743 | $27.0M | Add +2.2% |
| FDX FedEx Corp. | 0.62% | 110,554 | $26.3M | Add +120.0% |
| IXC iShares Global Energy ETF | 0.61% | 617,015 | $25.8M | Add +3.4% |
| SPHQ Invesco S&P 500 Quality ETF | 0.61% | 349,784 | $25.6M | Add +5.3% |
| APA Apa Corp. | 0.59% | 1,013,516 | $24.6M | Add +7627.3% |
| PAVE Global X US Infrastructure | 0.58% | 515,937 | $24.6M | Add +2.1% |
| UBER Uber Technologies Inc. | 0.58% | 249,566 | $24.4M | Reduce -4.2% |
| SPTS SS SPDR P St Term TSY ETF | 0.58% | 828,952 | $24.3M | Reduce -2.0% |
| MLPA Global X MLP ETF | 0.56% | 486,475 | $23.6M | Add +1.1% |
| ANGL Vaneck Fallen Angel High YLD | 0.55% | 779,499 | $23.2M | Reduce -24.6% |
| DELL Dell Technologies -C | 0.53% | 157,793 | $22.4M | Add +0.2% |
| VOO Vanguard S&P 500 ETF | 0.53% | 36,277 | $22.3M | Add +3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.53% | 44,268 | $22.3M | Add +6.2% |
| CSCO Cisco Systems Inc. | 0.53% | 323,749 | $22.2M | Add +1.4% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.52% | 32,758 | $21.9M | Add +2.2% |
| MRK Merck & Co. Inc. | 0.52% | 257,385 | $21.8M | Add +0.1% |
| AVGO Broadcom Inc. | 0.52% | 66,022 | $21.8M | Add +13.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.51% | 243,729 | $21.3M | Add +6.0% |
| ORCL Oracle Corp. | 0.51% | 75,607 | $21.3M | Reduce -2.9% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.50% | 610,611 | $21.2M | Add +512.6% |
| IJR iShares Core S&P Small-Cap E | 0.48% | 170,723 | $20.3M | Add +0.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.47% | 32,935 | $19.8M | Add +0.7% |
| QCOM Qualcomm Inc. | 0.45% | 114,610 | $19.1M | Add +3.2% |
| TEI Templeton Emrg MKTS Inc. | 0.45% | 3,053,135 | $18.9M | Reduce -11.5% |
| EDD Morgan Stanley Emrg MRK Dom | 0.44% | 3,376,960 | $18.6M | Add +2.9% |
| TSLA Tesla Inc. | 0.44% | 41,674 | $18.5M | Add +22.2% |
| VDE Vanguard Energy ETF | 0.42% | 141,768 | $17.8M | No change |
| COST Costco Wholesale Corp. | 0.42% | 19,096 | $17.7M | Add +3.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.42% | 339,026 | $17.5M | Add +2.3% |
| VGT Vanguard Info Tech ETF | 0.40% | 22,410 | $16.7M | Add +0.1% |
| C Citigroup Inc. | 0.39% | 160,100 | $16.3M | Reduce -7.9% |
| CEF Sprott Physical Gold and Sil | 0.39% | 442,284 | $16.2M | Add +0.2% |
| IVV iShares Core S&P 500 ETF | 0.38% | 23,977 | $16.0M | Reduce -7.4% |
| NKE Nike Inc. Class B | 0.38% | 228,640 | $16.0M | Reduce -2.6% |
| VEU Vanguard Ftse All-World Ex-U | 0.38% | 223,100 | $15.9M | Add +4.1% |
| AES AES Corp. | 0.37% | 1,196,335 | $15.7M | Reduce -19.3% |
| AESI Atlas Energy Solutions Inc. | 0.37% | 1,382,120 | $15.7M | Add +4.9% |
| IFRA iShares US Infrastructure | 0.37% | 296,928 | $15.7M | Reduce -0.3% |
| OKE Oneok Inc. | 0.37% | 214,268 | $15.6M | Add +33.9% |
| TSM Taiwan Semiconductor-SP ADR | 0.37% | 55,408 | $15.5M | Reduce -2.1% |
| FANG Diamondback Energy Inc. | 0.36% | 106,899 | $15.3M | Add +0.1% |
| VIG Vanguard Dividend Apprec ETF | 0.36% | 69,087 | $15.0M | Add +1.2% |
| ET Energy Transfer LP | 0.35% | 858,727 | $14.7M | Reduce -4.5% |
| GD General Dynamics Corp. | 0.34% | 42,093 | $14.4M | Reduce -1.6% |
| REZ Ishars Res and Multi Reales | 0.34% | 167,653 | $14.2M | Add +3.3% |
| FAX Abrdn Asia-Pacific Income | 0.33% | 863,504 | $14.1M | Reduce -2.2% |
| J Jacobs Solutions Inc. | 0.33% | 93,169 | $14.0M | Reduce -1.2% |
| SHEL Shell PLC-ADR | 0.33% | 194,826 | $13.9M | Add +6.4% |
| IWS iShares Russell Mid-Cap Valu | 0.33% | 97,942 | $13.7M | Add +1.2% |
| PFE Pfizer Inc. | 0.32% | 535,282 | $13.6M | Add +11.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.32% | 117,577 | $13.5M | Add +3.4% |
| PAGP Plains GP Holdings LP | 0.32% | 730,369 | $13.3M | Reduce -1.3% |
| DFAE Dimensional Emerging Core Eq | 0.32% | 420,052 | $13.2M | Add +5.5% |
| IVOO Vanguard S&P Mid-Cap 400 ETF | 0.31% | 118,959 | $13.1M | Add +4.1% |
| CQQQ Invesco China Technology ETF | 0.31% | 220,117 | $13.0M | Add +3.1% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.31% | 65,342 | $12.9M | Reduce -1.9% |
| HOOD Robinhood Markets Inc. Class A | 0.31% | 90,005 | $12.9M | Add +0.4% |
| PYPL PayPal Holdings Inc. | 0.30% | 187,258 | $12.6M | Add +5.3% |
| DAL Delta Air Lines Inc. | 0.29% | 217,506 | $12.3M | Reduce -0.7% |
| JNJ Johnson & Johnson | 0.29% | 65,816 | $12.2M | Add +3.6% |
| ABBV Abbvie Inc. | 0.29% | 52,578 | $12.2M | Add +6.4% |
| IFLN Invesco Bloomberg Enhanced F | 0.29% | 649,542 | $12.1M | Add +2.1% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.29% | 368,669 | $12.0M | Reduce -2.4% |
| BABA Alibaba Group Holding-SP ADR | 0.28% | 66,509 | $11.9M | Add +2.5% |
| LINE Lineage Inc. | 0.28% | 302,876 | $11.9M | Reduce -2.0% |
| TTE Totalenergies SE -Spon ADR | 0.28% | 193,941 | $11.8M | Add +3.2% |
| IEMG iShares Core MSCI Emerging | 0.28% | 176,371 | $11.6M | Add +48.1% |
| PSLV Sprott Physical Silver Trust | 0.28% | 736,619 | $11.6M | Reduce -2.5% |
| CRH CRH PLC | 0.27% | 96,332 | $11.6M | Reduce -10.0% |
| USMV iShares MSCI USA Min Vol Fac | 0.27% | 120,058 | $11.4M | Add +7.2% |
| DOCU Docusign Inc. | 0.27% | 157,852 | $11.4M | Reduce -14.9% |
| PYLD PIMCO Multisector Bond Actv | 0.26% | 406,388 | $10.9M | Add +70.0% |
| KW Kennedy-Wilson Holdings Inc. | 0.26% | 1,288,474 | $10.9M | Reduce -1.4% |
| PANW Palo Alto Networks Inc. | 0.26% | 53,312 | $10.9M | Add +2.9% |
Options reported separately and not counted above: MSFT calls ($777K), LLY calls ($763K), APP puts ($647K), META calls ($514K), ORCL calls ($422K), MSFT puts ($311K), ISRG calls ($224K), PLTR puts ($146K), UBER puts ($78K), SPOT puts ($70K), CRWD puts ($49K), NU puts ($48K), and 4 more.
Portfolio Sells Q2 2025 → Q3 2025
| UPS United Parcel Service Class B | Reduce -95.2% | 0.02% | −0.49 |
| JBBB Janus Henderson B-BBB Clo Et | Reduce -98.2% | 0.01% | −0.48 |
| ANGL Vaneck Fallen Angel High YLD | Reduce -24.6% | 0.55% | −0.36 |
| MTBA Simplify MBS ETF | Reduce -0.6% | 1.28% | −0.34 |
| JAAA Janus Henderson Aaa Clo ETF | Reduce -2.4% | 1.11% | −0.33 |
| DOW Dow Inc. | Reduce -97.6% | 0.00% | −0.29 |
| TGT Target Corp. | Reduce -86.9% | 0.02% | −0.23 |
| BINC iShares Flex I A ETF-Usd Inc. | Reduce -0.7% | 0.81% | −0.22 |
| EPD Enterprise Products Partners | Reduce -4.7% | 0.68% | −0.21 |
| TEI Templeton Emrg MKTS Inc. | Reduce -11.5% | 0.45% | −0.17 |
| SPTS SS SPDR P St Term TSY ETF | Reduce -2.0% | 0.58% | −0.17 |
| DOCU Docusign Inc. | Reduce -14.9% | 0.27% | −0.16 |
| UBER Uber Technologies Inc. | Reduce -4.2% | 0.58% | −0.15 |
| ET Energy Transfer LP | Reduce -4.5% | 0.35% | −0.14 |
| JPM JPMorgan Chase & Co. | Reduce -1.9% | 0.68% | −0.13 |
| LINE Lineage Inc. | Reduce -2.0% | 0.28% | −0.12 |
| NKE Nike Inc. Class B | Reduce -2.6% | 0.38% | −0.12 |
| GBIL Goldman Sachs Access Treasur | Reduce -36.8% | 0.12% | −0.12 |
| PAGP Plains GP Holdings LP | Reduce -1.3% | 0.32% | −0.12 |
| PPG PPG Industries Inc. | Reduce -86.0% | 0.01% | −0.11 |
| IVV iShares Core S&P 500 ETF | Reduce -7.4% | 0.38% | −0.10 |
| AES AES Corp. | Reduce -19.3% | 0.37% | −0.10 |
| CRM Salesforce Inc. | Reduce -0.5% | 0.20% | −0.09 |
| FAX Abrdn Asia-Pacific Income | Reduce -2.2% | 0.33% | −0.09 |
| VICI Vici Properties Inc. | Reduce -2.4% | 0.29% | −0.09 |
| MPLX MPLX LP | Reduce -4.8% | 0.22% | −0.08 |
| MTB M & T Bank Corp. | Reduce -1.9% | 0.31% | −0.08 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.08 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −0.07 |
| EQT Eqt Corp. | Reduce -1.8% | 0.18% | −0.07 |
| IFRA iShares US Infrastructure | Reduce -0.3% | 0.37% | −0.07 |
| MINT PIMCO Enhanced Short Maturit | Reduce -0.1% | 0.25% | −0.07 |
| AMT American Tower Corp. | Reduce -0.8% | 0.13% | −0.06 |
| C Citigroup Inc. | Reduce -7.9% | 0.39% | −0.06 |
| SCHV Schwab US Large-Cap Value | Sold out | 0.00% | −0.06 |
| RWT Redwood Trust Inc. | Reduce -4.5% | 0.15% | −0.05 |
| SCHW Schwab (charles) Corp. | Reduce -1.6% | 0.22% | −0.05 |
| WES Western Midstream Partners L | Reduce -5.7% | 0.16% | −0.05 |
| TUA Sim St Treas Fut Strat ETF | Reduce -0.5% | 0.18% | −0.05 |
| QAI Nylim HDG MLT-STR TRC ETF-Ui | Sold out | 0.00% | −0.05 |
| REGN Regeneron Pharmaceuticals | Reduce -27.3% | 0.08% | −0.05 |
| ARCC Ares Capital Corp. | Reduce -1.0% | 0.13% | −0.05 |
| GOLD Gold.com Inc. | Reduce -46.9% | 0.05% | −0.05 |
| EOG EOG Resources Inc. | Reduce -2.4% | 0.12% | −0.04 |
| EWZ iShares MSCI Brazil ETF | Reduce -0.3% | 0.24% | −0.04 |
| CTRA Coterra Energy Inc. | Reduce -3.0% | 0.11% | −0.04 |
| VEA Vanguard Ftse Developed ETF | Reduce -17.6% | 0.09% | −0.04 |
| J Jacobs Solutions Inc. | Reduce -1.2% | 0.33% | −0.04 |
| FXY Invesco Currencyshares Japan | Reduce -24.6% | 0.05% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -1.8% | 0.11% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| GS Goldman Sachs Group Inc. | Add +11400.3% | 4.02% | +3.98 |
| COF Capital One Financial Corp. | Add +5275.9% | 1.87% | +1.82 |
| OVV Ovintiv Inc. | New | 1.45% | +1.45 |
| JD Jd.com Inc.-ADR | New | 1.23% | +1.23 |
| ECHO Echostar Corp. Class A | Add +6942.9% | 0.95% | +0.94 |
| SHY iShares 1-3 Year Treasury Bo | Add +111.8% | 1.46% | +0.59 |
| APA Apa Corp. | Add +7627.3% | 0.59% | +0.58 |
| SLB SLB Ltd. | Add +512.6% | 0.50% | +0.40 |
| FDX FedEx Corp. | Add +120.0% | 0.62% | +0.28 |
| GOOGL Alphabet Inc. Class A | Add +5.9% | 1.40% | +0.19 |
| HRI Herc Holdings Inc. | New | 0.19% | +0.19 |
| OS Onestream Inc. | New | 0.15% | +0.15 |
| CSX CSX Corp. | Add +1906.1% | 0.15% | +0.14 |
| OTIS Otis Worldwide Corp. | Add +2104.3% | 0.13% | +0.12 |
| AAPL Apple Inc. | Add +7.7% | 2.26% | +0.12 |
| TSLA Tesla Inc. | Add +22.2% | 0.44% | +0.11 |
| RWR SS SPDR Dow Jones REIT ETF | Add +109.5% | 0.23% | +0.10 |
| PSKY Paramount Skydance Class B | New | 0.09% | +0.09 |
| VNOM Viper Energy Inc. Class A | New | 0.07% | +0.07 |
| PYLD PIMCO Multisector Bond Actv | Add +70.0% | 0.26% | +0.07 |
| CHE Chemed Corp. | Add +95.8% | 0.22% | +0.06 |
| SGOV iShares 0-3 Month Treasury B | Add +39.0% | 0.69% | +0.06 |
| IEMG iShares Core MSCI Emerging | Add +48.1% | 0.28% | +0.06 |
| BABA Alibaba Group Holding-SP ADR | Add +2.5% | 0.28% | +0.06 |
| BRK.A Berkshire Hathaway Inc. Class A | Add +100.0% | 0.14% | +0.06 |
| HOOD Robinhood Markets Inc. Class A | Add +0.4% | 0.31% | +0.05 |
| IGF iShares Global Infrastructur | Add +676.8% | 0.05% | +0.05 |
| CVX Chevron Corp. | Add +54.4% | 0.19% | +0.05 |
| NVDA Nvidia Corp. | Add +9.7% | 1.69% | +0.04 |
| VHT Vanguard Health Care ETF | Add +46.7% | 0.21% | +0.04 |
| ETHE Grayscale Ethereum Staking E | Add +69.9% | 0.06% | +0.04 |
| UDR Udr Inc. | Add +70.8% | 0.18% | +0.03 |
| AVGO Broadcom Inc. | Add +13.1% | 0.52% | +0.03 |
| INQQ Inqq the India Internet ETF | Add +114.0% | 0.09% | +0.03 |
| RHI Robert Half Inc. | New | 0.03% | +0.03 |
| OKLO Oklo Inc. | Add +0.0% | 0.07% | +0.02 |
| CQQQ Invesco China Technology ETF | Add +3.1% | 0.31% | +0.02 |
| PLTR Palantir Technologies Inc. Class A | Add +6.6% | 0.19% | +0.02 |
| EIX Edison International | Add +387.3% | 0.03% | +0.02 |
| HUN Huntsman Corp. | New | 0.02% | +0.02 |
| MU Micron Technology Inc. | Add +1.5% | 0.23% | +0.02 |
| UTHR United Therapeutics Corp. | Add +1.5% | 0.13% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | Add +82.7% | 0.05% | +0.02 |
| P Everpure Inc. Class A | New | 0.02% | +0.02 |
| F Ford Motor Co. | Add +352.1% | 0.02% | +0.02 |
| SNDK Sandisk Corp. | New | 0.02% | +0.02 |
| BBY Best Buy Co. Inc. | New | 0.02% | +0.02 |
| XPEV Xpeng Inc. - ADR | New | 0.02% | +0.02 |
| APAM Artisan Partners Asset Ma -A | New | 0.02% | +0.02 |
| FIX Comfort Systems USA Inc. | Add +15.6% | 0.05% | +0.02 |
Options Activity Q2 2025 → Q3 2025
| LLY Eli Lilly & Co. | call | New | 1,000 | $763K |
| GOOGL Alphabet Inc. Class A | put | Sold out | 4,000 | $705Kbefore exit |
| APP AppLovin Corp. Class A | put | New | 900 | $647K |
| MSFT Microsoft Corp. | put | Reduce -25.0% | 600 | $311K |
| ISRG Intuitive Surgical Inc. | call | New | 500 | $224K |
| AAPL Apple Inc. | put | Sold out | 1,000 | $205Kbefore exit |
| PLTR Palantir Technologies Inc. Class A | put | New | 800 | $146K |
| UBER Uber Technologies Inc. | put | New | 800 | $78K |
| SPOT Spotify Technology SA | put | New | 100 | $70K |
| CRWD CrowdStrike Holdings Inc. Class A | put | New | 100 | $49K |
| NU Nu Holdings Ltd./Cayman Isl-A | put | New | 3,000 | $48K |
| AFRM Affirm Holdings Inc. | put | New | 400 | $29K |
| DASH DoorDash Inc. Class A | put | New | 100 | $27K |
| ABNB Airbnb Inc. Class A | put | New | 200 | $24K |
| NVO Novo-Nordisk A/S-Spons ADR | call | New | 100 | $6K |
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 |