Evergreen Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, selecting other managers, publishing newsletters, and educational seminars. Financial planning was provided to 850 clients last fiscal year. The firm advises 8 private funds.
Evergreen Capital Management reports 1,157 clients. They include 754 high-net-worth individuals, 367 individual clients, and 26 corporations and other businesses. Of its assets, 99.8% ($7.17B across 3,377 accounts) are managed with discretion; $17.7M across 27 accounts are not. Of its clients, 1% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 32% | 4% |
| High-net-worth individuals | 65% | 87% |
| Pooled investment vehicles | <1% | 3% |
| Pension and profit-sharing plans | <1% | <1% |
| Corporations and other businesses | 2% | 5% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 367 | $322M | 4.5% | $878K |
| High-net-worth individuals | 754 | $6.23B | 86.8% | $8.27M |
| Pooled investment vehicles | 8 | $235M | 3.3% | $29.4M |
| Pension and profit-sharing plans | Fewer than 5 | $34.2M | 0.5% | $17.1M |
| Corporations and other businesses | 26 | $359M | 5.0% | $13.8M |
| Total | 1,157 | $7.19B | 100% | — |
- Clients
- 367
- Regulatory AUM
- $322M
- AUM share
- 4.5%
- Avg. per client
- $878K
- Clients
- 754
- Regulatory AUM
- $6.23B
- AUM share
- 86.8%
- Avg. per client
- $8.27M
- Clients
- 8
- Regulatory AUM
- $235M
- AUM share
- 3.3%
- Avg. per client
- $29.4M
- Clients
- Fewer than 5
- Regulatory AUM
- $34.2M
- AUM share
- 0.5%
- Avg. per client
- $17.1M
- Clients
- 26
- Regulatory AUM
- $359M
- AUM share
- 5.0%
- Avg. per client
- $13.8M
Total
- Clients
- 1,157
- Regulatory AUM
- $7.19B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 1%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 8
- Financial planning clients last fiscal year
- 850
Evergreen Capital Management charges 0.25%–1.00% a year for its Investment management services. The fee is billed in advance or in arrears and is negotiable. The brochure also prices one other service, listed under fee details.
Fee details and sources
Other fees
- Investment consulting and financial planning
- Fees are typically based on a pre-set fee schedule but may be negotiated and may be based on assets under management or another agreed method; no rate is stated.
D and M Hay LLC owns 50% to 75% of Evergreen Capital Management and is in turn owned by David Hay (75% or more). Tyler Hay is CEO; the leadership team includes Chief Investment Officer Jeffrey Dicks and Chief Operating Officer William Hay. It has 37 employees, 26 of them in advisory roles.
Leadership
Tyler HayMember/Chief Executive Officer
William HayChief Compliance Officer/Chief Operating Officer
Jeffrey DicksChief Investment Officer
Jeffrey EulbergDirector of Wealth Management and Owner
Mark NicolettiManaging Director, Family Office
Jeffrey OtisDirector of Private Wealth and Owner
Jeffrey RazoreBrand Development Manager /Member
Michael WiesmannCustomer Relationship Manager/Member- Olesya SinitsaMember
Investment adviser representatives
28 representatives listed in the SEC register as of 9 October 2026.
- Joshua Thomas Bilisko
- Elizabeth Z. Blasingame
- Lenora C Brekke
- Kenia Tairy Chavez
- Adam Tyler Costarella
- Kaeli Creed
- Christopher Thain Dankworth
- Ramonita Lopez De La Rosa
- Thomas Spencer Eulberg
- Sean Jason Figueroa
- Victoria Marie Fisher
- Sydney Ford
- Gherman Howell
- Tygue Anthony Howland
- Heidi Mathews Jeromanovs
- Megan Margarete Richardson
- David Scharf
- Olivia Kate Sell
- Quinn Kelly Sterling
- Sage Noel Swanson
- Kaitlenn Elizabeth Vercio
- Michelle Watson
Staff
- 37 employees
- 26 in advisory functions
- 26 state-registered reps
- 1 soliciting firm
- Owns 50% to 75% of Evergreen Capital Management LLC
D and M Hay LLC
Control person · since April 2004
- Owns 75% or more of D and M Hay LLC
David Hay
Control person · since April 2004
- Owns 10% to 25% of Evergreen Capital Management LLC
Lenape Inc.
since March 2012
- Owns 5% to 10% of Evergreen Capital Management LLC
Tyler Hay
Control person · since January 2010
- Owns 5% to 10% of Evergreen Capital Management LLC
Olesya Sinitsa
since April 2004
- Owns 5% to 10% of Evergreen Capital Management LLC
Jeffrey Eulberg
Control person · since January 2010
Evergreen Capital Management’s regulatory assets grew 2.4× from $2.99B (June 2021) to $7.19B (March 2026); clients rose from 822 to 1,157 and employees from 30 to 37.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| March 2026 | $7.19B | 1,157 | 37 | 6 |
| March 2025 | $5.22B | 1,106 | 38 | 5 |
| March 2024 | $4.55B | 1,070 | 36 | 6 |
| July 2023 | $3.86B | 992 | 35 | 5 |
| March 2022 | $3.93B | 915 | 30 | 5 |
| June 2021 | $2.99B | 822 | 30 | 4 |
Besides its headquarters, Evergreen Capital Management has 5 offices (1 private residence, listed without an address), with 5 listed addresses in California, Oregon and Washington.
California · 2 listed addresses
- 50 California Street, San Francisco
- 1850 Soscol #205, Napa
Washington · 2 listed addresses
- 1412 112th Ave Ne, Suite 100, BellevueHQ
- 316 W Boone Ave, Spokane
Oregon · 1 listed address
- 16325 Boones Ferry Road, Lake Oswego
Other business names
Evergreen Capital Management has reported 1 other business name to the SEC.
- Evergreen Gavekal
Contact and registration details
- Legal name
- Evergreen Capital Management LLC
- Headquarters
- 1412 112th Ave Ne, Suite 100, Bellevue, WA 98004
- Website
- evergreengavekal.com
- Phone
- 425-467-4600
- @evergreen-capital-management
- SEC file
- 801-20248
- Structure
- Washington LLC
- Fiscal year end
- December
Evergreen Capital Management uses Charles Schwab ($6.9B) as custodian for its separately managed accounts. Evergreen Capital Management has custody of $2.43B in client assets for 795 clients.
- Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $6.9B100%
At year end, Evergreen Capital Management’s separately managed accounts were largely in funds (41%) and stocks (34%). Its reported 13F holdings for the quarter ended 30 June 2026 total $5.7B across 1,535 positions; the largest are iShares Inc. (4.1%), Goldman Sachs Group Inc. (2.7%) and Apple Inc. (2.2%).
What the accounts hold
- Stocks34%
- Funds41%
- Registered funds34%
- Pooled vehicles7%
- Bonds22%
- Investment grade corporate bonds10%
- High-yield corporate bonds6%
- U.S. government and agency bonds3%
- State and local bonds3%
- Cash3%
Reported 13F holdings
- $5.7B
- Reported 13F value
- 1,535
- Positions
- 20.9%
- In the 10 largest
- +23.6%
- Value vs. prior quarter
- iShares Inc. · Core MSCI Emkt4.1%
- Goldman Sachs Group Inc.2.7%
- Apple Inc.2.2%
- Capital One Finl Corp.1.8%
- Microsoft Corp.1.8%
- T-mobile US Inc.1.7%
- Ovintiv Inc.1.7%
- Alphabet Inc. · Cap Stk CL A1.7%
- Paccar Inc.1.7%
- Nvidia Corporation1.6%
Together, the ten largest are 20.9% of reported value.
How many clients does Evergreen Capital Management have?
Evergreen Capital Management has 1,157 clients and manages $7.19 billion for them, as of March 2026. They include 754 high-net-worth individuals, 367 individual clients, and 26 corporations and other businesses.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 26 March 2026
What services does Evergreen Capital Management offer?
Evergreen Capital Management provides financial planning, portfolio management for individuals and small businesses, portfolio management for pooled vehicles, selecting other managers, publishing newsletters, and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
How much does Evergreen Capital Management charge?
Evergreen Capital Management charges 0.25%–1.00% a year for its Investment management services. The fee is billed in advance or in arrears and is negotiable.
Which custodians does Evergreen Capital Management use?
Evergreen Capital Management’s separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $6.9B. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 26 March 2026
How many financial advisors does Evergreen Capital Management have?
Evergreen Capital Management has 26 investment adviser representatives registered with state securities authorities, out of 37 employees, and 26 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Evergreen Capital Management invest in?
At the end of its last fiscal year, Evergreen Capital Management’s separately managed accounts held 34% exchange-traded equities, 34% registered funds (mutual funds, ETFs, BDCs), 10% investment grade corporate bonds, 7% pooled vehicles (private funds and similar), 6% high-yield corporate bonds, 3% U.S. government and agency bonds, 3% state and local bonds and 3% cash and equivalents. It advises 8 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Evergreen Capital Management?
Evergreen Capital Management is owned through a holding company by David Hay. Its direct owners are Tyler Hay (5% to 10%), Lenape Inc. (10% to 25%), D and M Hay LLC (50% to 75%), Olesya Sinitsa (5% to 10%), and Jeffrey Eulberg (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 26 March 2026
How does Evergreen Capital Management get paid?
Evergreen Capital Management is paid through a percentage of assets under management, fixed fees, performance-based fees and other compensation. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Evergreen Capital Management?
Evergreen Capital Management’s main office is at 1412 112th Ave Ne, Suite 100, Bellevue, WA 98004. Its phone number is 425-467-4600. Its website is evergreengavekal.com.