# Evergreen Capital Management LLC

> Evergreen Capital Management LLC is an SEC-registered investment advisory firm in Bellevue, WA, registered since 1983, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 26, 2026.

- CRD: 104931
- Filed as: EVERGREEN CAPITAL MANAGEMENT LLC
- Also doing business as: EVERGREEN GAVEKAL
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Bellevue, WA
- Filing period: October 2026
- Form ADV filing dated: March 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/104931
- AdvisorCensus page: https://advisorcensus.com/firm/evergreen-capital-management-llc-bellevue-wa-104931

## Quick answers

**How is Evergreen Capital Management LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Evergreen Capital Management LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees; other.

**How much does Evergreen Capital Management LLC charge?**
Its Form ADV Part 2A brochure dated March 26, 2026 states: Asset-based fee: 0.25% to 1% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Evergreen Capital Management LLC located?**
Evergreen Capital Management LLC's principal office is in Bellevue, WA, according to its Form ADV; the April 2026 filing also lists 4 other offices (Schedule D, Section 1.F).

**Is Evergreen Capital Management LLC registered with the SEC or a state?**
Evergreen Capital Management LLC is an SEC-registered investment advisory firm, registered since 1983. Status as filed: Approved. CRD 104931.

**How much does Evergreen Capital Management LLC manage?**
Evergreen Capital Management LLC reports $7,185,104,271 in regulatory assets under management in its Form ADV filing dated March 26, 2026 (100% discretionary).

**How have Evergreen Capital Management LLC's assets and staff changed since 2021?**
In the Form ADV data for Evergreen Capital Management LLC: Regulatory assets under management: $2,991,640,859 in the October 2021 data and $7,185,104,271 in the October 2026 data, up 140%. Total employees: 30 in October 2021 and 37 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Evergreen Capital Management LLC serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (754); individuals (other than high net worth individuals) (367); corporations or other businesses not listed above (26).

**Which custodians does Evergreen Capital Management LLC use?**
Evergreen Capital Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab & Co., Inc. as a custodian holding 10% or more of its separately managed account assets.

**Does Evergreen Capital Management LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/104931

**Does Evergreen Capital Management LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 26, 2026 says: "While Evergreen’s minimum account size is typically $1,000,000. Evergreen has the discretion to waive such minimum account sizes."

**What changed in Evergreen Capital Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $5,217,923,207 to $7,185,104,271 (+38%). Added an office in Spokane, WA. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees
- Other

### Fees and minimums (Form ADV Part 2A brochure dated March 26, 2026)

- Asset-based fee: 0.25% to 1% a year (a range, as the brochure states it)

> Fees paid by clients to Evergreen generally range from 0.25% to 1.00% per year of assets under management, depending on the market value and investment objectives of your account(s).

- Account minimum: $1,000,000 (the brochure says it may be waived or negotiated)

> While Evergreen’s minimum account size is typically $1,000,000. Evergreen has the discretion to waive such minimum account sizes.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Charles Schwab & Co., Inc.

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $7,185,104,271
- Discretionary: $7,167,361,282
- Non-discretionary: $17,742,989

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 367 | $322,358,542 |
| High net worth individuals | 754 | $6,234,800,449 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 8 | $234,804,452 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $34,247,626 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 26 | $358,893,202 |

### Advisory services (Item 5.G)
- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Selection of other advisers (including private fund managers)
- Publication of periodicals or newsletters
- Educational seminars/workshops
- Other

### Firm details
- Registered since: 1983 (42 years)
- Employees: 37 total, 26 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, ID, IL, IN, KS, KY, MA, MD, MI, MN, MO, MT, NC, NJ, NM, NV, NY, OH, OK, OR, PA, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Lake Oswego, OR
- Napa, CA
- San Francisco, CA
- Spokane, WA

### Websites listed on Form ADV (Item 1.I)
- evergreengavekal.com
- Facebook @EvergreenGavekal
- LinkedIn @EVERGREEN-CAPITAL-MANAGEMENT
- X @EVERGREENGK

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,991,640,859 | 30 | June 29, 2021 |
| October 2022 | $3,934,659,838 | 30 | March 31, 2022 |
| October 2023 | $3,862,918,534 | 35 | July 11, 2023 |
| October 2024 | $4,550,315,616 | 36 | August 15, 2024 |
| October 2025 | $5,217,923,207 | 38 | March 31, 2025 |
| October 2026 | $7,185,104,271 | 37 | March 26, 2026 |

Regulatory assets under management: $2,991,640,859 in the October 2021 data and $7,185,104,271 in the October 2026 data, up 140%.
Total employees: 30 in October 2021 and 37 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $5,217,923,207 to $7,185,104,271 (+38%).
- Added an office in Spokane, WA.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Evergreen Capital Management LLC (CRD 104931): Form ADV filing data as of October 2026.