Telos Capital Management, Inc.
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 21, 2024), Telos Capital Management, Inc. reported 196 stock positions worth $952.8 million. Its top holding was Apple (AAPL) at 5.7% of the portfolio, followed by Qualcomm (QCOM, 3.8%) and VG Morningstar TS MKT ETF-US (VTI, 3.7%). Compared with Q2 2024, it opened 9 new positions, sold out of 6, added to 72 and reduced 103. The biggest buy was a new position in PayPal (PYPL) and the biggest sale Qualcomm (QCOM, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001567889
- Portfolio Value
- $952.8M (Q3 2024)
- SEC Filing
- 0001567889-24-000004 ↗ filed Oct 21, 2024
Holdings Value
Holdings 196 stocks · $952.8M
| AAPL Apple Inc. | 5.71% | 233,615 | $54.4M | Add +0.7% |
| QCOM Qualcomm Inc. | 3.84% | 214,894 | $36.5M | Reduce -1.7% |
| VTI VG Morningstar TS MKT ETF-US | 3.73% | 125,541 | $35.5M | Add +0.8% |
| HD Home Depot Inc. | 2.50% | 58,814 | $23.8M | Reduce -3.4% |
| PEP Pepsico Inc. | 2.17% | 121,814 | $20.7M | Add +1.1% |
| PG The Procter & Gamble Co. | 2.04% | 112,440 | $19.5M | Reduce -2.0% |
| VEU Vanguard Ftse All-World Ex-U | 1.97% | 298,399 | $18.8M | Add +1.3% |
| GOOGL Alphabet Inc. Class A | 1.94% | 111,714 | $18.5M | Add +0.4% |
| AMZN Amazon.com Inc. | 1.85% | 94,441 | $17.6M | Add +1.1% |
| V Visa Inc. Class A | 1.80% | 62,538 | $17.2M | Add +3.7% |
| VEA Vanguard Ftse Developed ETF | 1.72% | 310,166 | $16.4M | Add +2.5% |
| MS Morgan Stanley | 1.67% | 152,740 | $15.9M | Add +1.6% |
| JPM JPMorgan Chase & Co. | 1.67% | 75,352 | $15.9M | Reduce -0.3% |
| NOC Northrop Grumman Corp. | 1.64% | 29,633 | $15.6M | Reduce -0.3% |
| CVX Chevron Corp. | 1.53% | 98,801 | $14.6M | Reduce -2.4% |
| MSFT Microsoft Corp. | 1.44% | 31,825 | $13.7M | Reduce -0.7% |
| UPS United Parcel Service Class B | 1.37% | 95,478 | $13.0M | Reduce -0.3% |
| NXPI NXP Semiconductors NV | 1.34% | 53,211 | $12.8M | Add +2.4% |
| TRV The Travelers Cos Inc. | 1.32% | 53,636 | $12.6M | Add +2.3% |
| DHR Danaher Corp. | 1.31% | 44,811 | $12.5M | No change |
| MA Mastercard Inc. Class A | 1.30% | 25,060 | $12.4M | Reduce -3.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.29% | 26,803 | $12.3M | Reduce -11.4% |
| J Jacobs Solutions Inc. | 1.21% | 88,295 | $11.6M | Add +1.6% |
| MDT Medtronic PLC | 1.17% | 123,358 | $11.1M | Add +2.0% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 1.16% | 101,259 | $11.0M | Reduce -0.4% |
| QQQ Invesco QQQ Trust Series 1 | 1.10% | 21,530 | $10.5M | Add +0.4% |
| IVV iShares Core S&P 500 ETF | 1.08% | 17,864 | $10.3M | Reduce -4.9% |
| GOOG Alphabet Inc. Class C | 1.05% | 59,923 | $10.0M | Add +0.2% |
| PANW Palo Alto Networks Inc. | 1.03% | 28,724 | $9.8M | Reduce -1.8% |
| IJH iShares Core S&P Midcap ETF | 1.01% | 153,671 | $9.6M | Reduce -0.4% |
| COST Costco Wholesale Corp. | 1.00% | 10,700 | $9.5M | Reduce -0.6% |
| IQV Iqvia Holdings Inc. | 0.96% | 38,747 | $9.2M | Add +1.3% |
| CARR Carrier Global Corp. | 0.93% | 110,053 | $8.9M | Reduce -3.8% |
| ORCL Oracle Corp. | 0.92% | 51,549 | $8.8M | Add +1.9% |
| JNJ Johnson & Johnson | 0.91% | 53,591 | $8.7M | Reduce -3.1% |
| UNH Unitedhealth Group Inc. | 0.87% | 14,207 | $8.3M | Reduce -0.5% |
| APD Air Products & Chemicals Inc. | 0.87% | 27,825 | $8.3M | Reduce -0.5% |
| AMGN Amgen Inc. | 0.85% | 25,200 | $8.1M | Reduce -1.4% |
| GS Goldman Sachs Group Inc. | 0.84% | 16,245 | $8.0M | Add +0.6% |
| ZTS Zoetis Inc. | 0.84% | 40,930 | $8.0M | Add +1.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.82% | 9,373 | $7.8M | Add +7.9% |
| LMT Lockheed Martin Corp. | 0.80% | 13,063 | $7.6M | Reduce -1.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.78% | 16,022 | $7.5M | Add +0.0% |
| RMD Resmed Inc. | 0.78% | 30,377 | $7.4M | Add +1.6% |
| NEE Nextera Energy Inc. | 0.77% | 86,665 | $7.3M | Add +0.9% |
| EOG EOG Resources Inc. | 0.77% | 59,294 | $7.3M | Add +5.7% |
| RSG Republic Services Inc. | 0.76% | 36,133 | $7.3M | Reduce -1.1% |
| CSCO Cisco Systems Inc. | 0.74% | 132,575 | $7.1M | Reduce -44.9% |
| WSM Williams-Sonoma Inc. | 0.73% | 44,860 | $6.9M | Reduce -2.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.73% | 72,105 | $6.9M | Add +3.0% |
| CBRE CBRE Group Inc. Class A | 0.72% | 55,435 | $6.9M | Add +0.2% |
| RTX RTX Corp. | 0.72% | 56,864 | $6.9M | Reduce -1.0% |
| PNC PNC Financial Services Group | 0.71% | 36,856 | $6.8M | Add +0.5% |
| MCD McDonald's Corp. | 0.71% | 22,313 | $6.8M | Add +1.4% |
| PSX Phillips 66 | 0.69% | 50,256 | $6.6M | Add +5.9% |
| EW Edwards Lifesciences Corp. | 0.68% | 98,894 | $6.5M | Add +1.6% |
| META Meta Platforms Inc. Class A | 0.68% | 11,238 | $6.4M | Reduce -0.2% |
| AEP American Electric Power | 0.65% | 60,794 | $6.2M | Reduce -1.0% |
| PYPL PayPal Holdings Inc. | 0.64% | 77,880 | $6.1M | New |
| SO The Southern Co. | 0.63% | 66,690 | $6.0M | Reduce -11.2% |
| O Realty Income Corp. | 0.63% | 94,004 | $6.0M | Reduce -6.8% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.62% | 74,430 | $5.9M | Add +2.1% |
| SYY Sysco Corp. | 0.61% | 74,975 | $5.9M | Reduce -1.9% |
| VCIT Vanguard Int-Term Corporate | 0.61% | 69,499 | $5.8M | Add +1.6% |
| IJR iShares Core S&P Small-Cap E | 0.60% | 49,004 | $5.7M | Add +1.5% |
| ROK Rockwell Automation Inc. | 0.60% | 21,310 | $5.7M | Add +4.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.60% | 72,825 | $5.7M | Reduce -0.2% |
| ENB Enbridge Inc. | 0.59% | 139,378 | $5.7M | Reduce -6.4% |
| DLS Wisdomtree Intl S/C DVD Fund | 0.59% | 80,889 | $5.6M | Reduce -0.3% |
| GPC Genuine Parts Co. | 0.58% | 39,435 | $5.5M | Add +1.2% |
| BMY Bristol-Myers Squibb Co. | 0.58% | 106,427 | $5.5M | Add +1.3% |
| FDX FedEx Corp. | 0.54% | 18,965 | $5.2M | Reduce -13.3% |
| VYM Vanguard High DVD Yield ETF | 0.54% | 40,395 | $5.2M | Reduce -1.1% |
| NOW ServiceNow Inc. | 0.53% | 5,650 | $5.1M | Add +0.2% |
| WMT Walmart Inc. | 0.53% | 61,974 | $5.0M | Add +1.1% |
| ABBV Abbvie Inc. | 0.50% | 24,331 | $4.8M | Reduce -2.6% |
| NKE Nike Inc. Class B | 0.50% | 53,368 | $4.7M | Reduce -2.3% |
| NVDA Nvidia Corp. | 0.49% | 38,454 | $4.7M | Reduce -2.7% |
| WM Waste Management Inc. | 0.47% | 21,423 | $4.4M | Reduce -0.6% |
| ABT Abbott Laboratories | 0.37% | 30,756 | $3.5M | Reduce -0.6% |
| AVUV Avantis US Small Cap Value | 0.35% | 34,846 | $3.3M | Add +2.0% |
| EFV iShares MSCI Eafe Value ETF | 0.34% | 56,009 | $3.2M | Reduce -1.7% |
| SCZ iShares MSCI Eafe Small-Cap | 0.34% | 47,150 | $3.2M | Add +0.8% |
| IVE iShares S&P 500 Value ETF | 0.33% | 15,845 | $3.1M | Reduce -0.6% |
| NVS Novartis AG-Sponsored ADR | 0.32% | 26,647 | $3.1M | Reduce -1.6% |
| RSP Invesco S&P 500 Equal Weight | 0.31% | 16,617 | $3.0M | Reduce -1.0% |
| AMTM Amentum Holdings Inc. | 0.30% | 88,292 | $2.8M | Add +1.6% |
| XOM Exxon Mobil Corp. | 0.28% | 23,156 | $2.7M | Reduce -1.4% |
| ACN Accenture PLC Class A | 0.27% | 7,381 | $2.6M | New |
| XLB SS Materials Select Sector | 0.27% | 26,948 | $2.6M | Add +0.3% |
| XBI SS SPDR S&P Biotech ETF | 0.27% | 26,106 | $2.6M | Reduce -1.0% |
| VXF Vanguard Extended Market ETF | 0.27% | 14,021 | $2.6M | Add +0.3% |
| IWS iShares Russell Mid-Cap Valu | 0.24% | 17,077 | $2.3M | Reduce -2.2% |
| UNP Union Pacific Corp. | 0.21% | 8,274 | $2.0M | Reduce -0.6% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.21% | 10,089 | $2.0M | Reduce -2.1% |
| NFLX Netflix Inc. | 0.19% | 2,488 | $1.8M | Reduce -1.6% |
| AFL Aflac Inc. | 0.18% | 15,677 | $1.8M | Reduce -8.1% |
| MRK Merck & Co. Inc. | 0.18% | 15,004 | $1.7M | Reduce -2.1% |
| MAA Mid-America Apartment Comm | 0.17% | 10,030 | $1.6M | Reduce -0.5% |
| UDR Udr Inc. | 0.17% | 34,694 | $1.6M | Reduce -0.3% |
Portfolio Sells Q2 2024 → Q3 2024
| QCOM Qualcomm Inc. | Reduce -1.7% | 3.84% | −0.99 |
| CSCO Cisco Systems Inc. | Reduce -44.9% | 0.74% | −0.53 |
| CVX Chevron Corp. | Reduce -2.4% | 1.53% | −0.23 |
| FDX FedEx Corp. | Reduce -13.3% | 0.54% | −0.18 |
| MSFT Microsoft Corp. | Reduce -0.7% | 1.44% | −0.15 |
| TROW T Rowe Price Group Inc. | Reduce -0.4% | 1.16% | −0.14 |
| UPS United Parcel Service Class B | Reduce -0.3% | 1.37% | −0.09 |
| SCHW Schwab (charles) Corp. | Reduce -46.9% | 0.06% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -11.4% | 1.29% | −0.07 |
| PANW Palo Alto Networks Inc. | Reduce -1.8% | 1.03% | −0.07 |
| IVV iShares Core S&P 500 ETF | Reduce -4.9% | 1.08% | −0.06 |
| PG The Procter & Gamble Co. | Reduce -2.0% | 2.04% | −0.05 |
| NVDA Nvidia Corp. | Reduce -2.7% | 0.49% | −0.05 |
| DOCU Docusign Inc. | Sold out | 0.00% | −0.05 |
| WM Waste Management Inc. | Reduce -0.6% | 0.47% | −0.04 |
| AMGN Amgen Inc. | Reduce -1.4% | 0.85% | −0.03 |
| WFC Wells Fargo & Co. | Reduce -17.9% | 0.09% | −0.03 |
| MRK Merck & Co. Inc. | Reduce -2.1% | 0.18% | −0.03 |
| MCHP Microchip Technology Inc. | Reduce -4.8% | 0.11% | −0.03 |
| INTC Intel Corp. | Sold out | 0.00% | −0.03 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 1.67% | −0.03 |
| BA The Boeing Co. | Sold out | 0.00% | −0.03 |
| RSG Republic Services Inc. | Reduce -1.1% | 0.76% | −0.03 |
| VZ Verizon Communications Inc. | Reduce -34.2% | 0.05% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -0.6% | 1.00% | −0.02 |
| BGS B&G Foods Inc. | Sold out | 0.00% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -1.4% | 0.28% | −0.01 |
| SO The Southern Co. | Reduce -11.2% | 0.63% | −0.01 |
| HON Honeywell International Inc. | Reduce -22.5% | 0.03% | −0.01 |
| LECO Lincoln Electric Holdings | Reduce -13.6% | 0.06% | −0.01 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.01 |
| EMR Emerson Electric Co. | Reduce -2.1% | 0.10% | −0.01 |
| KMB Kimberly-Clark Corp. | Reduce -6.9% | 0.07% | −0.01 |
| XLE SS Energy Select Sector | Reduce -0.4% | 0.07% | −0.01 |
| KO The Coca-Cola Co. | Reduce -10.8% | 0.14% | −0.01 |
| NIO Nio Inc. - ADR | Sold out | 0.00% | −0.01 |
| CRM Salesforce Inc. | Reduce -10.7% | 0.05% | −0.01 |
| SLG SL Green Realty Corp. | Reduce -19.7% | 0.07% | −0.01 |
| GLD SPDR Gold Shares | Reduce -10.1% | 0.13% | −0.01 |
| IBB iShares Biotechnology ETF | Reduce -3.1% | 0.16% | −0.00 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -2.6% | 0.08% | −0.00 |
| NFLX Netflix Inc. | Reduce -1.6% | 0.19% | −0.00 |
| XYL Xylem Inc. | Reduce -0.8% | 0.06% | −0.00 |
| REG Regency Centers Corp. | Reduce -17.2% | 0.04% | −0.00 |
| VOO Vanguard S&P 500 ETF | Reduce -9.8% | 0.03% | −0.00 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -0.6% | 0.15% | −0.00 |
| CWB SS SPDR BB Conv Sec ETF | Reduce -3.1% | 0.09% | −0.00 |
| SPTM SS SPDR P S&P 1500 Comp ETF | Reduce -1.5% | 0.15% | −0.00 |
| EMN Eastman Chemical Co. | Reduce -15.4% | 0.02% | −0.00 |
| TXN Texas Instruments Inc. | Reduce -7.7% | 0.03% | −0.00 |
Portfolio Buys Q2 2024 → Q3 2024
| PYPL PayPal Holdings Inc. | New | 0.64% | +0.64 |
| AAPL Apple Inc. | Add +0.7% | 5.71% | +0.30 |
| ACN Accenture PLC Class A | New | 0.27% | +0.27 |
| CBRE CBRE Group Inc. Class A | Add +0.2% | 0.72% | +0.18 |
| RMD Resmed Inc. | Add +1.6% | 0.78% | +0.14 |
| TRV The Travelers Cos Inc. | Add +2.3% | 1.32% | +0.14 |
| ORCL Oracle Corp. | Add +1.9% | 0.92% | +0.13 |
| MDT Medtronic PLC | Add +2.0% | 1.17% | +0.11 |
| NEE Nextera Energy Inc. | Add +0.9% | 0.77% | +0.09 |
| BMY Bristol-Myers Squibb Co. | Add +1.3% | 0.58% | +0.09 |
| MCD McDonald's Corp. | Add +1.4% | 0.71% | +0.09 |
| PNC PNC Financial Services Group | Add +0.5% | 0.71% | +0.08 |
| IQV Iqvia Holdings Inc. | Add +1.3% | 0.96% | +0.07 |
| ZTS Zoetis Inc. | Add +1.9% | 0.84% | +0.07 |
| WMT Walmart Inc. | Add +1.1% | 0.53% | +0.07 |
| VEA Vanguard Ftse Developed ETF | Add +2.5% | 1.72% | +0.06 |
| VEU Vanguard Ftse All-World Ex-U | Add +1.3% | 1.97% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +127.6% | 0.10% | +0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.05% | +0.05 |
| MS Morgan Stanley | Add +1.6% | 1.67% | +0.05 |
| PM Philip Morris International | New | 0.05% | +0.05 |
| V Visa Inc. Class A | Add +3.7% | 1.80% | +0.05 |
| NOW ServiceNow Inc. | Add +0.2% | 0.53% | +0.04 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.8% | 3.73% | +0.04 |
| GS Goldman Sachs Group Inc. | Add +0.6% | 0.84% | +0.03 |
| IWB iShares Russell 1000 ETF | New | 0.03% | +0.03 |
| IJR iShares Core S&P Small-Cap E | Add +1.5% | 0.60% | +0.03 |
| IWF iShares Russell 1000 Growth | Add +67.9% | 0.07% | +0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | New | 0.03% | +0.03 |
| IAU iShares Gold Trust | New | 0.02% | +0.02 |
| LEN.B Lennar Corp. Class B | New | 0.02% | +0.02 |
| FIBK First Interstate Bancsys-A | New | 0.02% | +0.02 |
| IBM Intl Business Machines Corp. | Add +5.4% | 0.08% | +0.02 |
| SCZ iShares MSCI Eafe Small-Cap | Add +0.8% | 0.34% | +0.02 |
| CPT Camden Property Trust | Add +0.1% | 0.16% | +0.01 |
| AVUV Avantis US Small Cap Value | Add +2.0% | 0.35% | +0.01 |
| SRE Sempra | Add +39.6% | 0.03% | +0.01 |
| XLB SS Materials Select Sector | Add +0.3% | 0.27% | +0.01 |
| PLD Prologis Inc. | Add +0.5% | 0.12% | +0.01 |
| EFA iShares MSCI Eafe ETF | Add +16.7% | 0.05% | +0.01 |
| VXF Vanguard Extended Market ETF | Add +0.3% | 0.27% | +0.01 |
| ADP Automatic Data Processing | Add +3.2% | 0.04% | +0.00 |
| VCIT Vanguard Int-Term Corporate | Add +1.6% | 0.61% | +0.00 |
| A Agilent Technologies Inc. | Add +2.4% | 0.03% | +0.00 |
| AVGO Broadcom Inc. | Add +2.5% | 0.07% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.7% | 0.07% | +0.00 |
| XCEM Columbia Em Core Ex-China | Add +7.2% | 0.06% | +0.00 |
| DLR Digital Realty Trust Inc. | Add +0.8% | 0.15% | +0.00 |
| MAR Marriott International Class A | Add +10.2% | 0.03% | +0.00 |
| AMD Advanced Micro Devices | Add +12.3% | 0.03% | +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 |