Telos Capital Management, Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 1, 2024), Telos Capital Management, Inc. reported 192 stock positions worth $902.2 million. Its top holding was Apple (AAPL) at 5.4% of the portfolio, followed by Qualcomm (QCOM, 4.8%) and VG Morningstar TS MKT ETF-US (VTI, 3.7%). Compared with Q1 2024, it opened 8 new positions, sold out of 11, added to 81 and reduced 88. The biggest buy was Apple (AAPL, shares +2%) and the biggest sale an exit from CVS Health (CVS).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001567889
- Portfolio Value
- $902.2M (Q2 2024)
- SEC Filing
- 0001567889-24-000003 ↗ filed Aug 1, 2024
Holdings Value
Holdings 192 stocks · $902.2M
| AAPL Apple Inc. | 5.41% | 231,937 | $48.9M | Add +2.0% |
| QCOM Qualcomm Inc. | 4.83% | 218,578 | $43.5M | Reduce -1.4% |
| VTI VG Morningstar TS MKT ETF-US | 3.69% | 124,533 | $33.3M | Reduce -0.3% |
| HD Home Depot Inc. | 2.32% | 60,895 | $21.0M | Add +12.0% |
| GOOGL Alphabet Inc. Class A | 2.25% | 111,296 | $20.3M | Reduce -1.1% |
| PEP Pepsico Inc. | 2.20% | 120,523 | $19.9M | Add +4.7% |
| PG The Procter & Gamble Co. | 2.10% | 114,690 | $18.9M | Add +2.3% |
| AMZN Amazon.com Inc. | 2.00% | 93,443 | $18.1M | Reduce -1.5% |
| VEU Vanguard Ftse All-World Ex-U | 1.91% | 294,603 | $17.3M | Reduce -1.3% |
| V Visa Inc. Class A | 1.75% | 60,304 | $15.8M | Add +4.2% |
| CVX Chevron Corp. | 1.75% | 101,186 | $15.8M | Reduce -0.1% |
| JPM JPMorgan Chase & Co. | 1.69% | 75,575 | $15.3M | Add +0.8% |
| VEA Vanguard Ftse Developed ETF | 1.66% | 302,675 | $15.0M | Add +0.3% |
| MS Morgan Stanley | 1.62% | 150,367 | $14.6M | Add +0.8% |
| MSFT Microsoft Corp. | 1.59% | 32,043 | $14.3M | Add +1.6% |
| NXPI NXP Semiconductors NV | 1.55% | 51,974 | $14.0M | Add +0.0% |
| UPS United Parcel Service Class B | 1.45% | 95,715 | $13.1M | Add +4.7% |
| NOC Northrop Grumman Corp. | 1.44% | 29,707 | $13.0M | Add +6.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.36% | 30,263 | $12.3M | Add +2.7% |
| J Jacobs Solutions Inc. | 1.35% | 86,910 | $12.1M | Add +4.7% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.30% | 101,701 | $11.7M | Add +1.5% |
| MA Mastercard Inc. Class A | 1.27% | 25,955 | $11.5M | Add +3.3% |
| CSCO Cisco Systems Inc. | 1.27% | 240,745 | $11.4M | Reduce -4.1% |
| DHR Danaher Corp. | 1.24% | 44,811 | $11.2M | Add +0.8% |
| GOOG Alphabet Inc. Class C | 1.22% | 59,792 | $11.0M | Reduce -1.1% |
| TRV The Travelers Cos Inc. | 1.18% | 52,442 | $10.7M | Add +2.6% |
| IVV iShares Core S&P 500 ETF | 1.14% | 18,782 | $10.3M | Reduce -1.9% |
| QQQ Invesco QQQ Trust Series 1 | 1.14% | 21,438 | $10.3M | Reduce -0.2% |
| PANW Palo Alto Networks Inc. | 1.10% | 29,255 | $9.9M | Add +7.0% |
| MDT Medtronic PLC | 1.06% | 120,956 | $9.5M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 1.01% | 10,768 | $9.2M | Reduce -1.6% |
| IJH iShares Core S&P Midcap ETF | 1.00% | 154,223 | $9.0M | Add +0.5% |
| EW Edwards Lifesciences Corp. | 1.00% | 97,375 | $9.0M | Add +2.1% |
| ASML ASML Holding NV-NY Reg SHS | 0.98% | 8,688 | $8.9M | Add +5.5% |
| JNJ Johnson & Johnson | 0.90% | 55,312 | $8.1M | Reduce -20.5% |
| IQV Iqvia Holdings Inc. | 0.90% | 38,233 | $8.1M | Add +0.5% |
| AMGN Amgen Inc. | 0.89% | 25,557 | $8.0M | Add +4.5% |
| VRTX Vertex Pharmaceuticals Inc. | 0.83% | 16,016 | $7.5M | Add +3.5% |
| GS Goldman Sachs Group Inc. | 0.81% | 16,142 | $7.3M | Reduce -1.0% |
| UNH Unitedhealth Group Inc. | 0.81% | 14,280 | $7.3M | Reduce -1.9% |
| CARR Carrier Global Corp. | 0.80% | 114,418 | $7.2M | Add +3.0% |
| APD Air Products & Chemicals Inc. | 0.80% | 27,950 | $7.2M | Add +0.4% |
| ORCL Oracle Corp. | 0.79% | 50,581 | $7.1M | Add +1.3% |
| RSG Republic Services Inc. | 0.79% | 36,538 | $7.1M | Reduce -1.0% |
| EOG EOG Resources Inc. | 0.78% | 56,080 | $7.1M | New |
| ZTS Zoetis Inc. | 0.77% | 40,179 | $7.0M | Add +9.6% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.77% | 69,977 | $6.9M | Reduce -5.5% |
| PSX Phillips 66 | 0.74% | 47,446 | $6.7M | Add +10.2% |
| FDX FedEx Corp. | 0.73% | 21,864 | $6.6M | Add +1.1% |
| WSM Williams-Sonoma Inc. | 0.72% | 22,990 | $6.5M | Reduce -3.2% |
| LMT Lockheed Martin Corp. | 0.68% | 13,211 | $6.2M | Add +659.7% |
| NEE Nextera Energy Inc. | 0.67% | 85,909 | $6.1M | Add +651.6% |
| SO The Southern Co. | 0.65% | 75,116 | $5.8M | Reduce -0.5% |
| RTX RTX Corp. | 0.64% | 57,430 | $5.8M | Add +2.5% |
| RMD Resmed Inc. | 0.63% | 29,898 | $5.7M | Add +3.5% |
| PNC PNC Financial Services Group | 0.63% | 36,670 | $5.7M | Add +1.3% |
| META Meta Platforms Inc. Class A | 0.63% | 11,265 | $5.7M | Reduce -1.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.62% | 72,901 | $5.6M | Add +1.8% |
| ROK Rockwell Automation Inc. | 0.62% | 20,377 | $5.6M | Add +7.1% |
| MCD McDonald's Corp. | 0.62% | 21,994 | $5.6M | Add +3.0% |
| VCIT Vanguard Int-Term Corporate | 0.61% | 68,398 | $5.5M | Add +0.4% |
| SYY Sysco Corp. | 0.60% | 76,401 | $5.5M | Reduce -2.7% |
| GPC Genuine Parts Co. | 0.60% | 38,962 | $5.4M | Add +1.6% |
| AEP American Electric Power | 0.60% | 61,383 | $5.4M | Add +1.4% |
| O Realty Income Corp. | 0.59% | 100,831 | $5.3M | Add +1.5% |
| IEFA iShares Core MSCI Eafe ETF | 0.59% | 72,951 | $5.3M | Add +0.8% |
| ENB Enbridge Inc. | 0.59% | 148,872 | $5.3M | Add +0.7% |
| IJR iShares Core S&P Small-Cap E | 0.57% | 48,260 | $5.1M | Reduce -1.5% |
| DLS Wisdomtree Intl S/C DVD Fund | 0.57% | 81,097 | $5.1M | Add +0.7% |
| CBRE CBRE Group Inc. Class A | 0.55% | 55,324 | $4.9M | Add +3.0% |
| NVDA Nvidia Corp. | 0.54% | 39,503 | $4.9M | Reduce -4.6% |
| VYM Vanguard High DVD Yield ETF | 0.54% | 40,860 | $4.8M | Add +0.2% |
| WM Waste Management Inc. | 0.51% | 21,543 | $4.6M | Reduce -0.8% |
| NOW ServiceNow Inc. | 0.49% | 5,640 | $4.4M | Add +5.7% |
| BMY Bristol-Myers Squibb Co. | 0.48% | 105,050 | $4.4M | Reduce -1.5% |
| ABBV Abbvie Inc. | 0.47% | 24,973 | $4.3M | Reduce -1.8% |
| WMT Walmart Inc. | 0.46% | 61,285 | $4.1M | Add +16.1% |
| NKE Nike Inc. Class B | 0.46% | 54,617 | $4.1M | Add +6.8% |
| ABT Abbott Laboratories | 0.36% | 30,930 | $3.2M | Reduce -3.2% |
| AVUV Avantis US Small Cap Value | 0.34% | 34,171 | $3.1M | New |
| EFV iShares MSCI Eafe Value ETF | 0.34% | 56,999 | $3.0M | Reduce -2.8% |
| IVE iShares S&P 500 Value ETF | 0.32% | 15,947 | $2.9M | Reduce -5.2% |
| SCZ iShares MSCI Eafe Small-Cap | 0.32% | 46,791 | $2.9M | Reduce -0.9% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 27,077 | $2.9M | Add +2.5% |
| RSP Invesco S&P 500 Equal Weight | 0.31% | 16,789 | $2.8M | Reduce -0.8% |
| XOM Exxon Mobil Corp. | 0.30% | 23,495 | $2.7M | Add +7.1% |
| XBI SS SPDR S&P Biotech ETF | 0.27% | 26,376 | $2.4M | Add +0.3% |
| XLB SS Materials Select Sector | 0.26% | 26,861 | $2.4M | Reduce -0.4% |
| VXF Vanguard Extended Market ETF | 0.26% | 13,980 | $2.4M | Reduce -0.5% |
| IWS iShares Russell Mid-Cap Valu | 0.23% | 17,461 | $2.1M | Add +0.6% |
| MRK Merck & Co. Inc. | 0.21% | 15,321 | $1.9M | Add +3.5% |
| UNP Union Pacific Corp. | 0.21% | 8,327 | $1.9M | Reduce -4.4% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.21% | 10,307 | $1.9M | Reduce -2.3% |
| NFLX Netflix Inc. | 0.19% | 2,529 | $1.7M | Reduce -0.2% |
| IBB iShares Biotechnology ETF | 0.17% | 11,139 | $1.5M | Add +1.6% |
| AFL Aflac Inc. | 0.17% | 17,055 | $1.5M | No change |
| LLY Eli Lilly & Co. | 0.16% | 1,616 | $1.5M | Reduce -4.2% |
| MAA Mid-America Apartment Comm | 0.16% | 10,076 | $1.4M | Add +0.8% |
| UDR Udr Inc. | 0.16% | 34,789 | $1.4M | Add +0.1% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.16% | 18,245 | $1.4M | Reduce -1.6% |
Portfolio Sells Q1 2024 → Q2 2024
| CVS CVS Health Corp. | Sold out | 0.00% | −0.70 |
| APTV Aptiv Irish Holdings Ltd. | Sold out | 0.00% | −0.60 |
| WRK Westrock Co. | Sold out | 0.00% | −0.60 |
| SBUX Starbucks Corp. | Reduce -83.4% | 0.08% | −0.51 |
| JNJ Johnson & Johnson | Reduce -20.5% | 0.90% | −0.34 |
| IJT iShares S&P Small-Cap 600 GR | Sold out | 0.00% | −0.34 |
| DIS The Walt Disney Co. | Reduce -5.5% | 0.77% | −0.25 |
| BMY Bristol-Myers Squibb Co. | Reduce -1.5% | 0.48% | −0.17 |
| CSCO Cisco Systems Inc. | Reduce -4.1% | 1.27% | −0.14 |
| MDT Medtronic PLC | Reduce -0.4% | 1.06% | −0.14 |
| WSM Williams-Sonoma Inc. | Reduce -3.2% | 0.72% | −0.13 |
| SYY Sysco Corp. | Reduce -2.7% | 0.60% | −0.11 |
| VWO Vanguard Ftse Emerging Marke | Reduce -64.7% | 0.04% | −0.07 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -1.3% | 1.91% | −0.06 |
| ABT Abbott Laboratories | Reduce -3.2% | 0.36% | −0.05 |
| ABBV Abbvie Inc. | Reduce -1.8% | 0.47% | −0.05 |
| CVX Chevron Corp. | Reduce -0.1% | 1.75% | −0.05 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.5% | 0.57% | −0.04 |
| LECO Lincoln Electric Holdings | Reduce -10.7% | 0.07% | −0.04 |
| MO Altria Group Inc. | Sold out | 0.00% | −0.03 |
| UNP Union Pacific Corp. | Reduce -4.4% | 0.21% | −0.03 |
| IVE iShares S&P 500 Value ETF | Reduce -5.2% | 0.32% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Sold out | 0.00% | −0.03 |
| TIP iShares Tips Bond ETF | Sold out | 0.00% | −0.03 |
| EFV iShares MSCI Eafe Value ETF | Reduce -2.8% | 0.34% | −0.02 |
| SYK Stryker Corp. | Sold out | 0.00% | −0.02 |
| LEN.B Lennar Corp. Class B | Sold out | 0.00% | −0.02 |
| BLK BlackRock Finance Inc. | Sold out | 0.00% | −0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Reduce -2.3% | 0.21% | −0.02 |
| XLB SS Materials Select Sector | Reduce -0.4% | 0.26% | −0.02 |
| RSP Invesco S&P 500 Equal Weight | Reduce -0.8% | 0.31% | −0.02 |
| SCZ iShares MSCI Eafe Small-Cap | Reduce -0.9% | 0.32% | −0.02 |
| GGT Gabelli Multimedia Trust Inc. | Sold out | 0.00% | −0.02 |
| VXF Vanguard Extended Market ETF | Reduce -0.5% | 0.26% | −0.02 |
| CAT Caterpillar Inc. | Reduce -0.3% | 0.13% | −0.02 |
| CRM Salesforce Inc. | Reduce -4.5% | 0.06% | −0.02 |
| ILMN Illumina Inc. | Reduce -0.9% | 0.04% | −0.01 |
| DE Deere & Co. | Reduce -0.4% | 0.11% | −0.01 |
| WM Waste Management Inc. | Reduce -0.8% | 0.51% | −0.01 |
| INTC Intel Corp. | Reduce -0.1% | 0.03% | −0.01 |
| DHI D.R. Horton Inc. | Reduce -0.5% | 0.05% | −0.01 |
| TGT Target Corp. | Reduce -1.0% | 0.04% | −0.01 |
| RSG Republic Services Inc. | Reduce -1.0% | 0.79% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -1.1% | 0.07% | −0.01 |
| DOCU Docusign Inc. | Reduce -4.7% | 0.05% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -7.4% | 0.07% | −0.01 |
| ADP Automatic Data Processing | Reduce -12.4% | 0.04% | −0.01 |
| MMM 3M Co. | Reduce -15.5% | 0.03% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -4.9% | 0.14% | −0.01 |
| LEN Lennar Corp. Class A | Reduce -0.1% | 0.04% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| AAPL Apple Inc. | Add +2.0% | 5.41% | +1.02 |
| EOG EOG Resources Inc. | New | 0.78% | +0.78 |
| LMT Lockheed Martin Corp. | Add +659.7% | 0.68% | +0.59 |
| NEE Nextera Energy Inc. | Add +651.6% | 0.67% | +0.59 |
| AVUV Avantis US Small Cap Value | New | 0.34% | +0.34 |
| PANW Palo Alto Networks Inc. | Add +7.0% | 1.10% | +0.22 |
| VRTX Vertex Pharmaceuticals Inc. | Add +3.5% | 0.83% | +0.10 |
| WMT Walmart Inc. | Add +16.1% | 0.46% | +0.10 |
| AMGN Amgen Inc. | Add +4.5% | 0.89% | +0.10 |
| NXPI NXP Semiconductors NV | Add +0.0% | 1.55% | +0.10 |
| MSFT Microsoft Corp. | Add +1.6% | 1.59% | +0.09 |
| ORCL Oracle Corp. | Add +1.3% | 0.79% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Add +5.5% | 0.98% | +0.08 |
| AVEM Avantis Emerging Markets Eq | New | 0.07% | +0.07 |
| ZTS Zoetis Inc. | Add +9.6% | 0.77% | +0.07 |
| CARR Carrier Global Corp. | Add +3.0% | 0.80% | +0.07 |
| PG The Procter & Gamble Co. | Add +2.3% | 2.10% | +0.05 |
| SCHB Schwab US Broad Market ETF | New | 0.04% | +0.04 |
| APD Air Products & Chemicals Inc. | Add +0.4% | 0.80% | +0.04 |
| MS Morgan Stanley | Add +0.8% | 1.62% | +0.04 |
| NOW ServiceNow Inc. | Add +5.7% | 0.49% | +0.03 |
| NVS Novartis AG-Sponsored ADR | Add +2.5% | 0.32% | +0.03 |
| BA The Boeing Co. | New | 0.03% | +0.03 |
| MAR Marriott International Class A | New | 0.03% | +0.03 |
| EXC Exelon Corp. | New | 0.02% | +0.02 |
| RTX RTX Corp. | Add +2.5% | 0.64% | +0.02 |
| CWH Camping World Holdings Inc. Class A | New | 0.02% | +0.02 |
| KO The Coca-Cola Co. | Add +14.6% | 0.15% | +0.02 |
| FDX FedEx Corp. | Add +1.1% | 0.73% | +0.02 |
| XOM Exxon Mobil Corp. | Add +7.1% | 0.30% | +0.01 |
| UDR Udr Inc. | Add +0.1% | 0.16% | +0.01 |
| MAA Mid-America Apartment Comm | Add +0.8% | 0.16% | +0.01 |
| SOXX iShares Semiconductor ETF | Add +1.8% | 0.13% | +0.01 |
| KIM Kimco Realty Corp. | Add +19.2% | 0.07% | +0.01 |
| AEP American Electric Power | Add +1.4% | 0.60% | +0.01 |
| HON Honeywell International Inc. | Add +18.7% | 0.05% | +0.01 |
| CEG Constellation Energy | Add +13.8% | 0.04% | +0.01 |
| GE General Electric | Add +21.8% | 0.08% | +0.01 |
| GEV GE Vernova Inc. | Add +22.5% | 0.02% | +0.00 |
| EMR Emerson Electric Co. | Add +7.7% | 0.11% | +0.00 |
| TXN Texas Instruments Inc. | Add +0.1% | 0.03% | +0.00 |
| XCEM Columbia Em Core Ex-China | Add +1.3% | 0.06% | +0.00 |
| CAG Conagra Brands Inc. | Add +8.6% | 0.03% | +0.00 |
| JPM JPMorgan Chase & Co. | Add +0.8% | 1.69% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +2.1% | 0.07% | +0.00 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +1.8% | 0.62% | +0.00 |
| IBB iShares Biotechnology ETF | Add +1.6% | 0.17% | −0.00 |
| EFA iShares MSCI Eafe ETF | Add +0.0% | 0.04% | −0.00 |
| WBD Warner Bros Discovery Inc. | Add +3.1% | 0.01% | −0.00 |
| XLE SS Energy Select Sector | Add +2.3% | 0.08% | −0.00 |
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 |