Telos Capital Management, Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 22, 2026), Telos Capital Management, Inc. reported 201 stock positions worth $1.1 billion. Its top holding was Apple (AAPL) at 5.7% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 3.6%) and Qualcomm (QCOM, 2.8%). Compared with Q1 2026, it opened 14 new positions, sold out of 5, added to 64 and reduced 104. The biggest buy was a new position in SS Health Care Select Sector (XLV) and the biggest sale Chevron (CVX, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001567889
- Portfolio Value
- $1.1B (Q2 2026)
- SEC Filing
- 0001567889-26-000004 ↗ filed Jul 22, 2026
Holdings Value
Holdings 201 stocks · $1.1B
| AAPL Apple Inc. | 5.67% | 222,437 | $64.4M | Reduce -1.2% |
| VTI VG Morningstar TS MKT ETF-US | 3.59% | 109,957 | $40.7M | Reduce -9.3% |
| QCOM Qualcomm Inc. | 2.82% | 173,332 | $32.0M | Reduce -9.2% |
| GOOGL Alphabet Inc. Class A | 2.75% | 87,229 | $31.2M | Reduce -1.6% |
| VEU Vanguard Ftse All-World Ex-U | 2.66% | 359,801 | $30.1M | Add +1.1% |
| PANW Palo Alto Networks Inc. | 2.55% | 84,926 | $29.0M | Reduce -1.3% |
| MS Morgan Stanley | 2.33% | 126,507 | $26.4M | Reduce -3.3% |
| VEA Vanguard Ftse Developed ETF | 1.99% | 316,442 | $22.5M | Reduce -1.7% |
| HD Home Depot Inc. | 1.97% | 63,419 | $22.4M | Add +0.5% |
| AMZN Amazon.com Inc. | 1.90% | 90,252 | $21.5M | Reduce -5.5% |
| V Visa Inc. Class A | 1.89% | 62,524 | $21.5M | Reduce -0.4% |
| JPM JPMorgan Chase & Co. | 1.88% | 65,314 | $21.4M | Reduce -0.4% |
| PEP Pepsico Inc. | 1.77% | 148,515 | $20.1M | Add +1.1% |
| GOOG Alphabet Inc. Class C | 1.68% | 54,038 | $19.1M | Reduce -0.8% |
| EOG EOG Resources Inc. | 1.61% | 141,067 | $18.3M | Add +1.4% |
| CVX Chevron Corp. | 1.50% | 102,892 | $17.1M | Reduce -0.2% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 1.49% | 8,511 | $16.9M | Reduce -3.4% |
| COST Costco Wholesale Corp. | 1.46% | 17,695 | $16.6M | Add +19.9% |
| PG The Procter & Gamble Co. | 1.45% | 112,178 | $16.4M | Reduce -0.1% |
| TRV The Travelers Cos Inc. | 1.43% | 49,145 | $16.2M | Add +0.2% |
| IVV iShares Core S&P 500 ETF | 1.34% | 20,277 | $15.2M | Add +1.0% |
| IJH iShares Core S&P Midcap ETF | 1.31% | 193,305 | $14.9M | Add +1.7% |
| QQQ Invesco QQQ Trust Series 1 | 1.27% | 19,627 | $14.5M | Reduce -6.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.27% | 28,718 | $14.4M | Add +0.3% |
| CSCO Cisco Systems Inc. | 1.23% | 119,153 | $14.0M | Reduce -3.9% |
| CARR Carrier Global Corp. | 1.21% | 187,523 | $13.8M | Reduce -0.1% |
| AVDV Avantis Intl S/C Value ETF | 1.15% | 126,197 | $13.0M | Reduce -0.9% |
| MSFT Microsoft Corp. | 1.12% | 33,964 | $12.7M | Add +2.5% |
| MA Mastercard Inc. Class A | 1.07% | 23,657 | $12.2M | Add +0.0% |
| VRTX Vertex Pharmaceuticals Inc. | 1.06% | 24,289 | $12.1M | Add +4.5% |
| NOC Northrop Grumman Corp. | 1.03% | 23,027 | $11.7M | Add +4.2% |
| JNJ Johnson & Johnson | 1.03% | 46,049 | $11.7M | Reduce -0.9% |
| NXPI NXP Semiconductors NV | 0.94% | 38,062 | $10.7M | Reduce -21.0% |
| ROK Rockwell Automation Inc. | 0.89% | 20,361 | $10.1M | Reduce -0.8% |
| RSG Republic Services Inc. | 0.84% | 44,998 | $9.6M | Add +2.9% |
| NOW ServiceNow Inc. | 0.84% | 96,183 | $9.5M | Reduce -0.4% |
| AMGN Amgen Inc. | 0.83% | 25,990 | $9.4M | Reduce -0.1% |
| PSX Phillips 66 | 0.83% | 55,644 | $9.4M | Reduce -2.0% |
| WSM Williams-Sonoma Inc. | 0.81% | 39,605 | $9.2M | Reduce -0.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.80% | 115,170 | $9.1M | Add +7.3% |
| DHR Danaher Corp. | 0.80% | 47,552 | $9.1M | Add +0.5% |
| IQV Iqvia Holdings Inc. | 0.80% | 46,755 | $9.0M | Add +0.4% |
| PNC PNC Financial Services Group | 0.77% | 35,571 | $8.8M | Reduce -2.0% |
| IJR iShares Core S&P Small-Cap E | 0.77% | 58,620 | $8.7M | Add +0.7% |
| J Jacobs Solutions Inc. | 0.76% | 68,539 | $8.6M | Reduce -5.2% |
| TEL Te Connectivity PLC | 0.76% | 42,514 | $8.6M | Add +2.5% |
| GS Goldman Sachs Group Inc. | 0.75% | 8,374 | $8.5M | Reduce -27.1% |
| AEP American Electric Power | 0.70% | 58,400 | $8.0M | Reduce -1.8% |
| AVEM Avantis Emerging Markets Eq | 0.68% | 80,020 | $7.7M | Reduce -1.1% |
| NEE Nextera Energy Inc. | 0.68% | 87,769 | $7.7M | Add +1.0% |
| EW Edwards Lifesciences Corp. | 0.66% | 82,811 | $7.5M | Add +0.5% |
| APD Air Products & Chemicals Inc. | 0.65% | 25,162 | $7.4M | Reduce -2.5% |
| NFLX Netflix Inc. | 0.65% | 103,138 | $7.4M | Reduce -3.4% |
| VCIT Vanguard Int-Term Corporate | 0.64% | 87,276 | $7.2M | Add +7.1% |
| CBRE CBRE Group Inc. Class A | 0.63% | 52,929 | $7.1M | Add +0.5% |
| RTX RTX Corp. | 0.62% | 36,996 | $7.0M | Add +7.0% |
| VYM Vanguard High DVD Yield ETF | 0.62% | 44,412 | $7.0M | Reduce -3.0% |
| RMD Resmed Inc. | 0.61% | 35,801 | $7.0M | Add +0.0% |
| SO The Southern Co. | 0.61% | 72,511 | $6.9M | Add +2.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.60% | 71,190 | $6.9M | Reduce -4.4% |
| IEFA iShares Core MSCI Eafe ETF | 0.59% | 69,877 | $6.7M | Reduce -1.4% |
| ENB Enbridge Inc. | 0.59% | 124,447 | $6.7M | Reduce -1.0% |
| LMT Lockheed Martin Corp. | 0.59% | 13,131 | $6.7M | Reduce -4.0% |
| O Realty Income Corp. | 0.57% | 105,000 | $6.5M | Add +1.5% |
| BMY Bristol-Myers Squibb Co. | 0.57% | 111,780 | $6.4M | Reduce -3.7% |
| META Meta Platforms Inc. Class A | 0.56% | 11,221 | $6.3M | Add +0.0% |
| WMT Walmart Inc. | 0.54% | 53,601 | $6.1M | Add +0.0% |
| MCD McDonald's Corp. | 0.52% | 21,681 | $5.9M | Add +2.5% |
| AVUV Avantis US Small Cap Value | 0.51% | 46,767 | $5.8M | Add +1.3% |
| HON Honeywell International Inc. | 0.51% | 25,856 | $5.8M | Add +6.9% |
| HONA Honeywell Aerospace Inc. | 0.50% | 25,856 | $5.7M | Add +6.9% |
| NVDA Nvidia Corp. | 0.50% | 28,140 | $5.6M | Reduce -26.7% |
| AVIV Avantis Intl LRG Cap Val ETF | 0.50% | 72,680 | $5.6M | Add +1.3% |
| MDT Medtronic PLC | 0.48% | 68,927 | $5.4M | Reduce -1.0% |
| XLE SS Energy Select Sector | 0.46% | 98,251 | $5.2M | Add +1.6% |
| ABBV Abbvie Inc. | 0.41% | 18,380 | $4.6M | Reduce -1.8% |
| RSP Invesco S&P 500 Equal Weight | 0.41% | 21,643 | $4.6M | Add +2.1% |
| GPC Genuine Parts Co. | 0.40% | 38,859 | $4.6M | Reduce -9.1% |
| EFV iShares MSCI Eafe Value ETF | 0.40% | 59,823 | $4.6M | Reduce -3.0% |
| WM Waste Management Inc. | 0.39% | 19,882 | $4.4M | Add +4.2% |
| SMH Vaneck Semiconductor ETF | 0.37% | 6,388 | $4.2M | Reduce -40.8% |
| NVS Novartis AG-Sponsored ADR | 0.35% | 25,483 | $4.0M | Reduce -0.9% |
| XLV SS Health Care Select Sector | 0.35% | 25,108 | $4.0M | New |
| AMTM Amentum Holdings Inc. | 0.34% | 185,611 | $3.8M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.28% | 23,561 | $3.2M | Reduce -1.9% |
| CAT Caterpillar Inc. | 0.28% | 2,967 | $3.2M | Add +0.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.27% | 4,110 | $3.1M | Add +9.4% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.26% | 3,891 | $3.0M | Reduce -6.2% |
| IWS iShares Russell Mid-Cap Valu | 0.26% | 17,820 | $2.9M | Reduce -3.6% |
| LLY Eli Lilly & Co. | 0.24% | 2,302 | $2.8M | Add +0.0% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.24% | 11,255 | $2.7M | Reduce -4.2% |
| SOXX iShares Semiconductor ETF | 0.24% | 4,211 | $2.7M | Reduce -8.0% |
| ABT Abbott Laboratories | 0.23% | 28,959 | $2.6M | Add +0.3% |
| UNP Union Pacific Corp. | 0.19% | 8,094 | $2.2M | Reduce -0.5% |
| LRCX Lam Research Corp. | 0.19% | 4,954 | $2.1M | Reduce -2.9% |
| DE Deere & Co. | 0.18% | 3,289 | $2.1M | Add +0.5% |
| VXF Vanguard Extended Market ETF | 0.18% | 8,228 | $2.0M | Reduce -32.6% |
| PLD Prologis Inc. | 0.17% | 14,642 | $2.0M | Reduce -3.1% |
| AFL Aflac Inc. | 0.17% | 16,427 | $1.9M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.17% | 6,765 | $1.9M | Reduce -2.4% |
Portfolio Sells Q1 2026 → Q2 2026
| CVX Chevron Corp. | Reduce -0.2% | 1.50% | −0.54 |
| NFLX Netflix Inc. | Reduce -3.4% | 0.65% | −0.33 |
| LMT Lockheed Martin Corp. | Reduce -4.0% | 0.59% | −0.20 |
| GS Goldman Sachs Group Inc. | Reduce -27.1% | 0.75% | −0.19 |
| PSX Phillips 66 | Reduce -2.0% | 0.83% | −0.16 |
| NVDA Nvidia Corp. | Reduce -26.7% | 0.50% | −0.15 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -9.3% | 3.59% | −0.14 |
| AMTM Amentum Holdings Inc. | Reduce -2.3% | 0.34% | −0.14 |
| TROW T Rowe Price Group Inc. | Reduce -75.0% | 0.05% | −0.13 |
| TSLA Tesla Inc. | Reduce -76.0% | 0.04% | −0.13 |
| NOW ServiceNow Inc. | Reduce -0.4% | 0.84% | −0.13 |
| J Jacobs Solutions Inc. | Reduce -5.2% | 0.76% | −0.12 |
| BMY Bristol-Myers Squibb Co. | Reduce -3.7% | 0.57% | −0.11 |
| XOM Exxon Mobil Corp. | Reduce -1.9% | 0.28% | −0.11 |
| PG The Procter & Gamble Co. | Reduce -0.1% | 1.45% | −0.10 |
| MDT Medtronic PLC | Reduce -1.0% | 0.48% | −0.10 |
| DIS The Walt Disney Co. | Reduce -4.4% | 0.60% | −0.08 |
| AVDV Avantis Intl S/C Value ETF | Reduce -0.9% | 1.15% | −0.07 |
| APD Air Products & Chemicals Inc. | Reduce -2.5% | 0.65% | −0.07 |
| VXF Vanguard Extended Market ETF | Reduce -32.6% | 0.18% | −0.06 |
| ENB Enbridge Inc. | Reduce -1.0% | 0.59% | −0.06 |
| JNJ Johnson & Johnson | Reduce -0.9% | 1.03% | −0.06 |
| AMGN Amgen Inc. | Reduce -0.1% | 0.83% | −0.05 |
| AEP American Electric Power | Reduce -1.8% | 0.70% | −0.04 |
| EFV iShares MSCI Eafe Value ETF | Reduce -3.0% | 0.40% | −0.04 |
| T AT&T Inc. | Reduce -16.7% | 0.04% | −0.03 |
| VYM Vanguard High DVD Yield ETF | Reduce -3.0% | 0.62% | −0.03 |
| GPC Genuine Parts Co. | Reduce -9.1% | 0.40% | −0.03 |
| SMH Vaneck Semiconductor ETF | Reduce -40.8% | 0.37% | −0.03 |
| DLR Digital Realty Trust Inc. | Reduce -10.0% | 0.12% | −0.03 |
| GLD SPDR Gold Shares | Reduce -3.4% | 0.08% | −0.02 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.9% | 0.35% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -11.0% | 0.05% | −0.02 |
| LECO Lincoln Electric Holdings | Sold out | 0.00% | −0.02 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.02 |
| SCHD Schwab US DVD Equity ETF | Reduce -20.7% | 0.07% | −0.02 |
| ADP Automatic Data Processing | Sold out | 0.00% | −0.02 |
| VTRS Viatris Inc. | Sold out | 0.00% | −0.02 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -1.4% | 0.59% | −0.02 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.02 |
| PLD Prologis Inc. | Reduce -3.1% | 0.17% | −0.02 |
| VOO Vanguard S&P 500 ETF | Reduce -17.7% | 0.09% | −0.01 |
| KO The Coca-Cola Co. | Reduce -14.1% | 0.07% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -11.2% | 0.10% | −0.01 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -1.8% | 0.10% | −0.01 |
| CRM Salesforce Inc. | Reduce -5.7% | 0.03% | −0.01 |
| AMZN Amazon.com Inc. | Reduce -5.5% | 1.90% | −0.01 |
| PM Philip Morris International | Reduce -16.3% | 0.04% | −0.01 |
| XLP SS Consumer Staples Sel Sect | Reduce -2.2% | 0.08% | −0.01 |
| MRK Merck & Co. Inc. | Reduce -2.3% | 0.16% | −0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| XLV SS Health Care Select Sector | New | 0.35% | +0.35 |
| VEU Vanguard Ftse All-World Ex-U | Add +1.1% | 2.66% | +0.10 |
| IJH iShares Core S&P Midcap ETF | Add +1.7% | 1.31% | +0.08 |
| IVV iShares Core S&P 500 ETF | Add +1.0% | 1.34% | +0.08 |
| CAT Caterpillar Inc. | Add +0.5% | 0.28% | +0.08 |
| IJR iShares Core S&P Small-Cap E | Add +0.7% | 0.77% | +0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Add +4.5% | 1.06% | +0.07 |
| IGV iShares Expanded Tech-Softwa | New | 0.06% | +0.06 |
| TRV The Travelers Cos Inc. | Add +0.2% | 1.43% | +0.06 |
| AMD Advanced Micro Devices | Add +17.3% | 0.08% | +0.05 |
| COST Costco Wholesale Corp. | Add +19.9% | 1.46% | +0.05 |
| LLY Eli Lilly & Co. | Add +0.0% | 0.24% | +0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +9.4% | 0.27% | +0.04 |
| VGT Vanguard Info Tech ETF | Add +1.9% | 0.16% | +0.04 |
| IQV Iqvia Holdings Inc. | Add +0.4% | 0.80% | +0.04 |
| INTC Intel Corp. | New | 0.03% | +0.03 |
| ANET Arista Networks Inc. | Add +0.3% | 0.13% | +0.03 |
| EW Edwards Lifesciences Corp. | Add +0.5% | 0.66% | +0.03 |
| FRDM Freedom 100 Emeging MRKT ETF | New | 0.03% | +0.03 |
| GLW Corning Inc. | New | 0.03% | +0.03 |
| FTNT Fortinet Inc. | New | 0.03% | +0.03 |
| AVUV Avantis US Small Cap Value | Add +1.3% | 0.51% | +0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | New | 0.03% | +0.03 |
| NVO Novo-Nordisk A/S-Spons ADR | New | 0.02% | +0.02 |
| BUG Global X Cybersecurity ETF | New | 0.02% | +0.02 |
| BAC Bank of America Corp. | New | 0.02% | +0.02 |
| IWB iShares Russell 1000 ETF | New | 0.02% | +0.02 |
| IMCG iShares Morningstar Mid-Cap | New | 0.02% | +0.02 |
| LEN Lennar Corp. Class A | New | 0.02% | +0.02 |
| VLO Valero Energy Corp. | New | 0.02% | +0.02 |
| GE General Electric | Add +3.0% | 0.09% | +0.02 |
| AVGO Broadcom Inc. | Add +1.6% | 0.13% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +2.1% | 0.41% | +0.02 |
| DE Deere & Co. | Add +0.5% | 0.18% | +0.01 |
| DHI D.R. Horton Inc. | Add +0.7% | 0.05% | +0.00 |
| KMB Kimberly-Clark Corp. | Add +0.4% | 0.06% | +0.00 |
| AMH American Homes 4 Rent- A | Add +1.0% | 0.02% | +0.00 |
| VWO Vanguard Ftse Emerging Marke | Add +3.3% | 0.04% | +0.00 |
| XLI SS Industrial Select Sector | Add +2.3% | 0.03% | +0.00 |
| ECL Ecolab Inc. | Add +2.7% | 0.02% | −0.00 |
| WY Weyerhaeuser Co. | Add +0.3% | 0.02% | −0.00 |
| ORCL Oracle Corp. | Add +1.8% | 0.05% | −0.00 |
| XYL Xylem Inc. | Add +1.2% | 0.04% | −0.00 |
| SCHW Schwab (charles) Corp. | Add +0.0% | 0.03% | −0.00 |
| CMCSA Comcast Corp. Class A | Add +6.5% | 0.02% | −0.00 |
| PFF iShares Preferred & Income S | Add +0.6% | 0.09% | −0.01 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +0.6% | 0.09% | −0.01 |
| REGN Regeneron Pharmaceuticals | Add +3.1% | 0.03% | −0.01 |
| HONA Honeywell Aerospace Inc. | Add +6.9% | 0.50% | −0.01 |
| LHX L3HARRIS Technologies Inc. | Add +1.4% | 0.04% | −0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 201 | $1.1B | AAPL, VTI, QCOM, GOOGL, VEU |
| Q1 2026 | 191 | $1.0B | AAPL, VTI, VEU, GOOGL, QCOM |
| Q4 2025 | 196 | $1.1B | AAPL, VTI, GOOGL, QCOM, VEU |
| Q3 2025 | 193 | $1.0B | AAPL, VTI, QCOM, GOOGL, VEU |
| Q2 2025 | 195 | $981.9M | AAPL, VTI, QCOM, VEU, HD |
| Q1 2025 | 191 | $917.8M | AAPL, VTI, QCOM, HD, V |
| Q4 2024 | 197 | $937.6M | AAPL, VTI, QCOM, HD, GOOGL |
| Q3 2024 | 196 | $952.8M | AAPL, QCOM, VTI, HD, PEP |
| Q2 2024 | 192 | $902.2M | AAPL, QCOM, VTI, HD, GOOGL |
| Q1 2024 | 194 | $886.9M | AAPL, QCOM, VTI, HD, PEP |