EVERGREEN CAPITAL MANAGEMENT LLC

Bellevue, WA · CIK 1260824 · 13F filing filed 2026-07-23

SEC-registered investment adviser since 1983 · limited liability company

Assets managed$7.2bn
Staff37 · 26 in investment roles
Main clients (by assets)High net worth individuals 87%, Companies 5%, Individuals 4%
Private funds8 · $234.8m gross assets
Form ADV · 2026-03-26SEC adviser record

$5.7bn reported value +23.6% vs Q1 2026

1,522positions

21.0%in top 10

178 new 614 added 613 reduced 154 sold out vs Q1 2026

Options: 5 call positions ($1.1m notional), 8 put positions ($5.8m notional) – listed below, not included above.

This report includes the holdings of 4 other managers that share the investment decisions:

Quantinno Capital Management LP – files its own report too; $1.3bn of shares are in both
Aperio Group, LLC – reports through this filing
PARAMETRIC PORTFOLIO ASSOCIATES LLC – reports through this filing
SpiderRock Advisors, LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES INC CORE MSCI EMKT IEMG	IEMG	2,829,956	$234.4m4.12%	4.12%	Added +187.1k	+187,101 7.1%
2	GOLDMAN SACHS GROUP INC COM GS	GS	150,189	$151.9m2.67%	2.67%	Added +117.2k	+117,244 355.9%
3	APPLE INC COM AAPL	AAPL	436,726	$126.4m2.22%	2.22%	Added +32	+32 0.0%
4	CAPITAL ONE FINL CORP COM COF	COF	525,329	$105.4m1.85%	1.85%	Added +462.9k	+462,924 741.8%
5	MICROSOFT CORP COM MSFT	MSFT	269,967	$100.7m1.77%	1.77%	Added +41.7k	+41,742 18.3%
6	T-MOBILE US INC COM TMUS	TMUS	591,907	$99.3m1.74%	1.74%	Added +585.7k	+585,709 9450.0%
7	OVINTIV INC COM OVV	OVV	1,807,357	$95.2m1.67%	1.67%	Added +1.1m	+1,075,029 146.8%
8	ALPHABET INC CAP STK CL A GOOGL	GOOGL	265,066	$94.7m1.66%	1.66%	Added +3.0k	+2,969 1.1%
9	PACCAR INC COM PCAR	PCAR	788,435	$94.7m1.66%	1.66%	Reduced -5.2k	-5,166 -0.7%
10	NVIDIA CORPORATION COM NVDA	NVDA	453,680	$90.8m1.59%	1.59%	Added +6.6k	+6,601 1.5%
11	ISHARES TR 3 7 YR TREAS BD IEI	IEI	730,746	$85.8m1.51%	1.51%	Reduced -16.6k	-16,564 -2.2%
12	ECHOSTAR CORP CL A ECHO	ECHO	831,632	$84.4m1.48%	1.48%	Added +542.6k	+542,611 187.7%
13	ALPHABET INC CAP STK CL C GOOG	GOOG	225,963	$79.8m1.40%	1.40%	Added +304	+304 0.1%
14	AMAZON COM INC COM AMZN	AMZN	325,697	$77.6m1.36%	1.36%	Added +16.7k	+16,718 5.4%
15	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	781,642	$75.4m1.32%	1.32%	Added +22.0k	+21,951 2.9%
16	ISHARES TR 1 3 YR TREAS BD SHY	SHY	727,713	$59.8m1.05%	1.05%	Reduced -95.6k	-95,615 -11.6%
17	GLOBAL X FDS US INFR DEV ETF PAVE	PAVE	918,222	$54.2m0.95%	0.95%	Added +41.4k	+41,396 4.7%
18	SIMPLIFY EXCHANGE TRADED FUN MBS ETF MTBA	MTBA	1,054,709	$51.8m0.91%	0.91%	Reduced -7.1k	-7,139 -0.7%
19	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	507,483	$51.1m0.90%	0.90%	Reduced -112.8k	-112,768 -18.2%
20	VANGUARD INDEX FDS VALUE ETF VTV	VTV	210,730	$45.9m0.81%	0.81%	Added +13.1k	+13,120 6.6%
21	JANUS DETROIT STR TR HENDRSON AAA CL JAAA	JAAA	884,464	$44.8m0.79%	0.79%	Reduced -28.6k	-28,616 -3.1%
22	ISHARES TR 7-10 YR TRSY BD IEF	IEF	470,944	$44.5m0.78%	0.78%	Added +409.2k	+409,163 662.3%
23	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	5,338,043	$43.6m0.77%	0.77%	Added +5.3m	+5,321,858 32881.4%
24	APA CORPORATION COM APA	APA	1,283,057	$41.8m0.73%	0.73%	Added +962.7k	+962,663 300.5%
25	JD.COM INC SPON ADS CL A JD	JD	1,480,613	$37.7m0.66%	0.66%	Added +1.5m	+1,473,253 20017.0%
26	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	745,522	$37.7m0.66%	0.66%	Unchanged
27	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	49,444	$37.0m0.65%	0.65%	Added +6.4k	+6,448 15.0%
28	BLACKROCK ETF TRUST II ISHARES FLEXIBLE BINC	BINC	664,837	$34.8m0.61%	0.61%	Added +4.2k	+4,200 0.6%
29	DELL TECHNOLOGIES INC CL C DELL	DELL	79,648	$34.4m0.60%	0.60%	Reduced -91.6k	-91,640 -53.5%
30	FEDEX CORP COM FDX	FDX	108,955	$34.2m0.60%	0.60%	Added +24.9k	+24,898 29.6%
31	MICRON TECHNOLOGY INC COM MU	MU	29,017	$33.5m0.59%	0.59%	Reduced -20.9k	-20,948 -41.9%
32	MERCK & CO INC COM MRK	MRK	258,518	$33.4m0.59%	0.59%	Reduced -3.8k	-3,779 -1.4%
33	ISHARES TR CORE MSCI EAFE IEFA	IEFA	345,593	$33.4m0.59%	0.59%	Added +20.0k	+19,968 6.1%
34	DOUBLELINE ETF TRUST MORTGAGE ETF DMBS	DMBS	678,657	$33.3m0.58%	0.58%	Reduced -7.8k	-7,777 -1.1%
35	JPMORGAN CHASE & CO COM JPM	JPM	97,875	$32.0m0.56%	0.56%	Reduced -10.5k	-10,484 -9.7%
36	INVESCO EXCHANGE TRADED FD T S&P500 QUALITY SPHQ	SPHQ	353,193	$31.8m0.56%	0.56%	Added +7.0k	+6,998 2.0%
37	ISHARES TR GLOBAL ENERG ETF IXC	IXC	639,408	$31.4m0.55%	0.55%	Reduced -10	-10 0.0%
38	BROADCOM INC COM AVGO	AVGO	81,952	$31.0m0.54%	0.54%	Added +9.7k	+9,727 13.5%
39	CISCO SYS INC COM CSCO	CSCO	255,498	$30.0m0.53%	0.53%	Reduced -49.9k	-49,892 -16.3%
40	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	796,751	$29.3m0.51%	0.51%	Reduced -79.6k	-79,592 -9.1%
41	SCHLUMBERGER LTD COM STK SLB	SLB	616,925	$28.9m0.51%	0.51%	Added +508.9k	+508,917 471.2%
42	ISHARES TR RESIDENTIAL MULT REZ	REZ	299,314	$28.3m0.50%	0.50%	Added +32.5k	+32,471 12.2%
43	VANECK ETF TRUST JP MRGAN EM LOC EMLC	EMLC	1,096,521	$28.0m0.49%	0.49%	Added +10.3k	+10,308 0.9%
44	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	319,999	$27.6m0.48%	0.48%	Reduced -24.2k	-24,245 -7.0%
45	DIMENSIONAL ETF TRUST EMGR CRE EQT MNG DFAE	DFAE	656,713	$26.4m0.46%	0.46%	Added +83.7k	+83,743 14.6%
46	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	37,355	$25.7m0.45%	0.45%	Added +1.3k	+1,271 3.5%
47	GLOBAL X FDS GLBL X MLP ETF MLPA	MLPA	478,511	$25.4m0.45%	0.45%	Added +3.1k	+3,074 0.7%
48	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	52,814	$25.3m0.44%	0.44%	Added +874	+874 1.7%
49	ISHARES TR CORE S&P SCP ETF IJR	IJR	166,353	$24.7m0.43%	0.43%	Added +1.1k	+1,083 0.7%
50	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	33,157	$24.4m0.43%	0.43%	Added +52	+52 0.2%
51	META PLATFORMS INC CL A META	META	43,197	$24.3m0.43%	0.43%	Added +5.5k	+5,529 14.7%
52	ISHARES TR GLB INFRASTR ETF IGF	IGF	362,646	$24.2m0.42%	0.42%	Added +31.2k	+31,175 9.4%
53	VANECK ETF TRUST FALLEN ANGEL HG ANGL	ANGL	798,375	$23.3m0.41%	0.41%	Added +4.1k	+4,081 0.5%
54	PIMCO ETF TR MULTISECTOR BD PYLD	PYLD	865,182	$22.9m0.40%	0.40%	Added +35.5k	+35,537 4.3%
55	BANK AMERICA CORP COM BAC	BAC	397,722	$22.7m0.40%	0.40%	Added +40.5k	+40,479 11.3%
56	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	45,087	$22.6m0.40%	0.40%	Reduced -8.5k	-8,463 -15.8%
57	CITIGROUP INC COM NEW C	C	156,204	$21.9m0.38%	0.38%	Reduced -819	-819 -0.5%
58	VANGUARD WORLD FD ENERGY ETF VDE	VDE	145,342	$21.8m0.38%	0.38%	Reduced -502	-502 -0.3%
59	MORGAN STANLEY EMERGING MKTS COM EDD	EDD	3,508,478	$21.5m0.38%	0.38%	Added +48.0k	+48,031 1.4%
60	UBER TECHNOLOGIES INC COM UBER	UBER	293,545	$21.2m0.37%	0.37%	Reduced -24.5k	-24,491 -7.7%
61	AMERICAN TOWER CORP NEW COM AMT	AMT	126,392	$20.8m0.37%	0.37%	Added +53.5k	+53,526 73.5%
62	VANGUARD WORLD FD INF TECH ETF VGT	VGT	170,231	$20.3m0.36%	0.36%	Reduced -49	-49 -0.0%
63	PALO ALTO NETWORKS INC COM PANW	PANW	59,279	$20.2m0.35%	0.35%	Added +5.2k	+5,181 9.6%
64	SPDR SER TR PORTFOLIO SH TSR SPTS	SPTS	696,181	$20.2m0.35%	0.35%	Reduced -35.4k	-35,372 -4.8%
65	VANGUARD INTL EQUITY INDEX F ALLWRLD EX US VEU	VEU	239,373	$20.0m0.35%	0.35%	Added +13.7k	+13,683 6.1%
66	ISHARES TR US INFRASTRUC IFRA	IFRA	310,377	$19.6m0.34%	0.34%	Added +3.6k	+3,641 1.2%
67	COSTCO WHSL CORP NEW COM COST	COST	20,283	$19.0m0.33%	0.33%	Reduced -249	-249 -1.2%
68	VANGUARD ADMIRAL FDS INC MIDCP 400 IDX IVOO	IVOO	142,946	$18.6m0.33%	0.33%	Added +23.8k	+23,814 20.0%
69	ISHARES TR RUS MDCP VAL ETF IWS	IWS	112,413	$18.5m0.32%	0.32%	Added +7.9k	+7,930 7.6%
70	TESLA INC COM TSLA	TSLA	43,794	$18.4m0.32%	0.32%	Added +3.6k	+3,571 8.9%
71	VANGUARD WORLD FD HEALTH CAR ETF VHT	VHT	58,281	$17.4m0.31%	0.31%	Added +1.9k	+1,852 3.3%
72	JOHNSON & JOHNSON COM JNJ	JNJ	66,225	$16.8m0.30%	0.30%	Reduced -443	-443 -0.7%
73	M & T BK CORP COM MTB	MTB	69,931	$16.6m0.29%	0.29%	Reduced -498	-498 -0.7%
74	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	201,144	$16.6m0.29%	0.29%	Added +887	+887 0.4%
75	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	8,310	$16.5m0.29%	0.29%	Reduced -887	-887 -9.6%
76	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	845,478	$16.2m0.28%	0.28%	Reduced -17.1k	-17,120 -2.0%
77	VANGUARD SPECIALIZED FUNDS DIV APP ETF VIG	VIG	68,080	$16.1m0.28%	0.28%	Reduced -119	-119 -0.2%
78	JACOBS SOLUTIONS INC COM J	J	125,771	$15.8m0.28%	0.28%	Added +22.1k	+22,129 21.4%
79	APPLIED MATLS INC COM AMAT	AMAT	21,409	$15.5m0.27%	0.27%	Reduced -467	-467 -2.1%
80	BONDBLOXX ETF TRUST BLOOMBERG SIX MN XHLF	XHLF	301,901	$15.2m0.27%	0.27%	Reduced -38.0k	-38,006 -11.2%
81	TEMPLETON EMERGING MKTS INCO COM TEI	TEI	2,235,663	$15.1m0.26%	0.26%	Added +35.1k	+35,144 1.6%
82	GENERAL DYNAMICS CORP COM GD	GD	42,003	$14.9m0.26%	0.26%	Reduced -1.1k	-1,080 -2.5%
83	ONEOK INC NEW COM OKE	OKE	170,927	$14.9m0.26%	0.26%	Reduced -33.1k	-33,118 -16.2%
84	ISHARES TR MORTGE REL ETF REM	REM	672,345	$14.8m0.26%	0.26%	Added +5.7k	+5,693 0.8%
85	DIAMONDBACK ENERGY INC COM FANG	FANG	83,834	$14.7m0.26%	0.26%	Added +8	+8 0.0%
86	PLAINS GP HLDGS L P LTD PARTNR INT A PAGP	PAGP	605,118	$14.7m0.26%	0.26%	Reduced -87.5k	-87,497 -12.6%
87	ELI LILLY & CO COM LLY	LLY	12,152	$14.6m0.26%	0.26%	Reduced -3.9k	-3,868 -24.1%
88	SPROTT ASSET MANAGEMENT LP TR UNIT CEF	CEF	359,926	$14.5m0.25%	0.25%	Reduced -12	-12 0.0%
89	QUALCOMM INC COM QCOM	QCOM	77,863	$14.4m0.25%	0.25%	Reduced -30.9k	-30,877 -28.4%
90	ORACLE CORP COM ORCL	ORCL	95,018	$13.9m0.24%	0.24%	Reduced -16.9k	-16,910 -15.1%
91	ABRDN ASIA PACIFIC INCOME FU COM NEW FAX	FAX	946,524	$13.9m0.24%	0.24%	Added +30.2k	+30,236 3.3%
92	SANDISK CORP COM SNDK	SNDK	6,025	$13.7m0.24%	0.24%	Reduced -1.0k	-1,030 -14.6%
93	INVESCO EXCH TRADED FD TR II CHINA TECHNLGY CQQQ	CQQQ	239,052	$13.6m0.24%	0.24%	Reduced -1.2k	-1,193 -0.5%
94	SPDR SER TR DJ REIT ETF RWR	RWR	118,883	$13.4m0.24%	0.24%	Added +11.5k	+11,494 10.7%
95	RITHM CAPITAL CORP COM NEW RITM	RITM	1,425,198	$13.4m0.23%	0.23%	Added +566.5k	+566,525 66.0%
96	UBS GROUP AG SHS UBS	UBS	269,605	$13.4m0.23%	0.23%	Added +242.3k	+242,280 886.7%
97	SHELL PLC SPON ADS SHEL	SHEL	171,516	$13.3m0.23%	0.23%	Added +7.5k	+7,474 4.6%
98	ABBVIE INC COM ABBV	ABBV	51,916	$13.1m0.23%	0.23%	Reduced -4.8k	-4,819 -8.5%
99	CRH PLC ORD CRH	CRH	120,520	$12.9m0.23%	0.23%	Added +18.8k	+18,843 18.5%
100	DISNEY WALT CO COM DIS	DIS	132,528	$12.9m0.23%	0.23%	Added +4.6k	+4,576 3.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
KENNEDY-WILSON HOLDINGS INC KW	KW	1,154,920	$12.6m1.2m shares
COTERRA ENERGY INC CTRA	CTRA	192,697	$6.8m192.7k shares
HONEYWELL INTL INC		6,706	$3.0m6.7k shares
SMITH A O CORP AOS	AOS	30,363	$2.0m30.4k shares
FTI CONSULTING INC FCN	FCN	8,307	$1.5m8.3k shares
TRANSUNION TRU	TRU	12,276	$849.4k12.3k shares
YELP INC YELP	YELP	33,023	$817.0k33.0k shares
MASIMO CORP MASI	MASI	4,149	$738.0k4.1k shares
EXPONENT INC EXPO	EXPO	10,515	$686.1k10.5k shares
GARTNER INC IT	IT	3,600	$570.0k3.6k shares
TRIMBLE INC TRMB	TRMB	8,716	$568.5k8.7k shares
ISHARES INC EWG	EWG	13,936	$552.8k13.9k shares
HOLOGIC INC HOLX	HOLX	7,156	$540.9k7.2k shares
AIR LEASE CORP AL	AL	8,123	$528.5k8.1k shares
PEGASYSTEMS INC PEGA	PEGA	12,056	$513.1k12.1k shares
UMH PPTYS INC UMH	UMH	34,806	$502.3k34.8k shares
CACI INTL INC CACI	CACI	897	$487.9k897 shares
SHAKE SHACK INC SHAK	SHAK	5,225	$462.3k5.2k shares
BOSTON BEER INC SAM	SAM	1,995	$459.6k2.0k shares
ROPER TECHNOLOGIES INC ROP	ROP	1,244	$440.2k1.2k shares
GRAND CANYON ED INC LOPE	LOPE	2,560	$435.3k2.6k shares
CARNIVAL CORP		16,526	$427.7k16.5k shares
DOLBY LABORATORIES INC DLB	DLB	7,078	$425.1k7.1k shares
TRI POINTE HOMES INC TPH	TPH	8,712	$407.1k8.7k shares
KYNDRYL HLDGS INC KD	KD	30,532	$400.6k30.5k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
CHIME FINL INC CHYM · Put	CHYM	Put	135,000	$2.8m135.0k shares	New
APPLE INC AAPL · Put	AAPL	Put	2,600	$752.3k2.6k shares	New
ALPHABET INC GOOGL · Put	GOOGL	Put	1,600	$571.8k1.6k shares	New
NVIDIA CORPORATION NVDA · Put	NVDA	Put	2,600	$520.2k2.6k shares	New
BROADCOM INC AVGO · Put	AVGO	Put	1,000	$377.8k1.0k shares	New
ALPHABET INC GOOG · Put	GOOG	Put	1,000	$353.3k1.0k shares	New
META PLATFORMS INC META · Call	META	Call	500	$281.6k500 shares	Unchanged
ELI LILLY & CO LLY · Put	LLY	Put	200	$239.9k200 shares	New
BROADCOM INC AVGO · Call	AVGO	Call	600	$226.7k600 shares	New
MICROSOFT CORP MSFT · Put	MSFT	Put	600	$223.8k600 shares	Unchanged
NVIDIA CORPORATION NVDA · Call	NVDA	Call	1,000	$200.1k1.0k shares	New
MICROSOFT CORP MSFT · Call	MSFT	Call	500	$186.5k500 shares	Reduced
ALPHABET INC GOOG · Call	GOOG	Call	500	$176.7k500 shares	Reduced

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
MORGAN STANLEY EMERGING MKTS EDD · 13G · filed 2026-04-13	EDD	5.4%≈ $20.5m	+0.6 pts	13G	2026-04-13