Telos Capital Management, Inc.

Name: Telos Capital Management, Inc. 13F holdings, Q4 2025
Creator: Telos Capital Management, Inc.
Published: 2026-01-22

Q2 2026Q1 2026Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 22, 2026), Telos Capital Management, Inc. reported 196 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, 3.9%) and Alphabet Class A (GOOGL, 3.1%). Compared with Q3 2025, it opened 8 new positions, sold out of 5, added to 70 and reduced 101. The biggest buy was EOG Resources (EOG, shares +100%) and the biggest sale Jacobs Solutions (J, shares −17%).

Most Recent 13F: Q2 2026
Location: SAN DIEGO, CA
CIK: 0001567889
Portfolio Value: $1.1B (Q4 2025)
SEC Filing: 0001567889-26-000001 ↗ filed Jan 22, 2026

Holdings Value

Holdings 196 stocks · $1.1B


AAPL Apple Inc.	5.72%	225,706	$61.4M	Reduce -1.8%
VTI VG Morningstar TS MKT ETF-US	3.89%	124,363	$41.7M	Reduce -0.9%
GOOGL Alphabet Inc. Class A	3.07%	105,355	$33.0M	Reduce -5.7%
QCOM Qualcomm Inc.	3.02%	189,103	$32.3M	Reduce -0.1%
VEU Vanguard Ftse All-World Ex-U	2.42%	352,707	$25.9M	Add +1.6%
MS Morgan Stanley	2.20%	133,139	$23.6M	Reduce -5.7%
AMZN Amazon.com Inc.	2.04%	94,822	$21.9M	Add +0.4%
V Visa Inc. Class A	1.99%	60,872	$21.3M	Add +1.1%
HD Home Depot Inc.	1.98%	61,714	$21.2M	Add +3.8%
PEP Pepsico Inc.	1.96%	146,242	$21.0M	Add +2.9%
JPM JPMorgan Chase & Co.	1.94%	64,715	$20.9M	Reduce -2.4%
VEA Vanguard Ftse Developed ETF	1.84%	315,989	$19.7M	Add +0.3%
GOOG Alphabet Inc. Class C	1.68%	57,531	$18.1M	Reduce -4.0%
NOC Northrop Grumman Corp.	1.57%	29,570	$16.9M	Reduce -1.1%
CVX Chevron Corp.	1.53%	108,026	$16.5M	Add +0.4%
PG The Procter & Gamble Co.	1.51%	113,294	$16.2M	Reduce -0.6%
TRV The Travelers Cos Inc.	1.40%	51,643	$15.0M	Reduce -0.4%
PANW Palo Alto Networks Inc.	1.37%	79,640	$14.7M	Add +1.1%
MSFT Microsoft Corp.	1.35%	29,947	$14.5M	Add +0.0%
EOG EOG Resources Inc.	1.34%	136,802	$14.4M	Add +100.3%
BRK.B Berkshire Hathaway Inc. Class B	1.31%	27,881	$14.0M	Add +0.9%
IVV iShares Core S&P 500 ETF	1.27%	19,932	$13.7M	Add +0.3%
MA Mastercard Inc. Class A	1.26%	23,736	$13.6M	Reduce -1.6%
QQQ Invesco QQQ Trust Series 1	1.21%	21,206	$13.0M	Reduce -5.0%
IJH iShares Core S&P Midcap ETF	1.14%	185,760	$12.3M	Add +3.1%
AVDV Avantis Intl S/C Value ETF	1.11%	126,410	$11.9M	Reduce -0.2%
COST Costco Wholesale Corp.	1.07%	13,338	$11.5M	Add +13.9%
NXPI NXP Semiconductors NV	1.03%	51,114	$11.1M	Reduce -0.7%
DHR Danaher Corp.	1.02%	47,642	$10.9M	Reduce -2.0%
GS Goldman Sachs Group Inc.	0.96%	11,707	$10.3M	Reduce -3.5%
VRTX Vertex Pharmaceuticals Inc.	0.95%	22,376	$10.1M	Add +5.6%
J Jacobs Solutions Inc.	0.94%	76,179	$10.1M	Reduce -17.1%
IQV Iqvia Holdings Inc.	0.93%	44,216	$10.0M	Add +0.3%
JNJ Johnson & Johnson	0.92%	47,934	$9.9M	Reduce -2.4%
CARR Carrier Global Corp.	0.92%	185,983	$9.8M	Add +2.2%
ASML ASML Holding NV-NY Reg SHS	0.91%	9,158	$9.8M	Reduce -15.6%
CSCO Cisco Systems Inc.	0.90%	124,758	$9.6M	Reduce -0.7%
RTX RTX Corp.	0.87%	51,067	$9.4M	Reduce -4.7%
TEL Te Connectivity PLC	0.85%	40,249	$9.2M	Reduce -14.0%
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.83%	78,447	$8.9M	Add +4.5%
AMGN Amgen Inc.	0.82%	26,990	$8.8M	Reduce -3.0%
RSG Republic Services Inc.	0.82%	41,439	$8.8M	Add +8.7%
HON Honeywell International Inc.	0.79%	43,703	$8.5M	Reduce -0.1%
VCSH Vanguard S/T Corp. Bond ETF	0.79%	106,220	$8.5M	Add +5.8%
ORCL Oracle Corp.	0.78%	43,136	$8.4M	Add +3.4%
RMD Resmed Inc.	0.74%	33,069	$8.0M	Add +5.4%
NOW ServiceNow Inc.	0.73%	50,940	$7.8M	Add +61.2%
ROK Rockwell Automation Inc.	0.73%	20,005	$7.8M	Reduce -1.1%
CBRE CBRE Group Inc. Class A	0.72%	48,279	$7.8M	Add +0.2%
PNC PNC Financial Services Group	0.70%	36,204	$7.6M	Reduce -0.0%
PSX Phillips 66	0.70%	57,803	$7.5M	Add +2.5%
META Meta Platforms Inc. Class A	0.69%	11,231	$7.4M	Reduce -0.3%
NVDA Nvidia Corp.	0.67%	38,355	$7.2M	Reduce -0.0%
WSM Williams-Sonoma Inc.	0.67%	40,030	$7.1M	Reduce -1.5%
NEE Nextera Energy Inc.	0.66%	88,805	$7.1M	Reduce -3.1%
AEP American Electric Power	0.65%	60,807	$7.0M	Add +0.1%
ENB Enbridge Inc.	0.65%	144,647	$6.9M	Add +1.0%
IJR iShares Core S&P Small-Cap E	0.64%	57,192	$6.9M	Add +2.4%
LMT Lockheed Martin Corp.	0.64%	14,119	$6.8M	Reduce -0.1%
EW Edwards Lifesciences Corp.	0.62%	77,715	$6.6M	Add +7.8%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC	0.61%	64,133	$6.6M	Reduce -3.5%
VCIT Vanguard Int-Term Corporate	0.61%	78,143	$6.5M	Add +2.2%
MDT Medtronic PLC	0.60%	67,476	$6.5M	Reduce -0.4%
WMT Walmart Inc.	0.60%	57,624	$6.4M	Reduce -7.7%
IEFA iShares Core MSCI Eafe ETF	0.60%	71,735	$6.4M	Reduce -1.6%
MCD McDonald's Corp.	0.60%	20,966	$6.4M	Add +1.1%
APD Air Products & Chemicals Inc.	0.60%	25,915	$6.4M	Reduce -0.9%
VYM Vanguard High DVD Yield ETF	0.59%	44,110	$6.3M	Reduce -2.1%
BMY Bristol-Myers Squibb Co.	0.58%	116,022	$6.3M	Add +0.3%
SO The Southern Co.	0.58%	71,730	$6.3M	Add +2.0%
PYPL PayPal Holdings Inc.	0.55%	100,818	$5.9M	Reduce -3.6%
O Realty Income Corp.	0.55%	103,708	$5.8M	Add +2.0%
AVEM Avantis Emerging Markets Eq	0.53%	74,335	$5.7M	Add +480.1%
AMTM Amentum Holdings Inc.	0.51%	187,466	$5.4M	Reduce -1.3%
GPC Genuine Parts Co.	0.49%	43,034	$5.3M	Add +2.7%
AVUV Avantis US Small Cap Value	0.43%	45,528	$4.6M	Add +3.5%
NFLX Netflix Inc.	0.41%	47,474	$4.5M	Add +6.4%
ABBV Abbvie Inc.	0.41%	19,090	$4.4M	Reduce -1.3%
EFV iShares MSCI Eafe Value ETF	0.40%	59,752	$4.3M	Reduce -3.6%
WM Waste Management Inc.	0.39%	18,874	$4.1M	Add +11.0%
RSP Invesco S&P 500 Equal Weight	0.37%	20,702	$4.0M	Add +2.6%
IVE iShares S&P 500 Value ETF	0.37%	18,614	$3.9M	Reduce -0.7%
SMH Vaneck Semiconductor ETF	0.36%	10,834	$3.9M	Add +0.9%
ABT Abbott Laboratories	0.35%	29,868	$3.7M	Reduce -2.0%
NVS Novartis AG-Sponsored ADR	0.34%	26,293	$3.6M	Reduce -1.4%
XLF SS Financial Select Sector	0.31%	61,600	$3.4M	Add +3.1%
SPY SS SPDR S&P 500 ETF Trust-US	0.27%	4,297	$2.9M	Add +39.0%
XOM Exxon Mobil Corp.	0.27%	23,887	$2.9M	Reduce -12.4%
VXF Vanguard Extended Market ETF	0.25%	12,709	$2.7M	Reduce -11.9%
TSLA Tesla Inc.	0.24%	5,624	$2.5M	Reduce -0.6%
IWS iShares Russell Mid-Cap Valu	0.24%	17,893	$2.5M	Reduce -3.6%
LLY Eli Lilly & Co.	0.23%	2,331	$2.5M	Reduce -6.2%
VBR Vngrd Mrngst SL-CP Val ETF-U	0.22%	11,343	$2.4M	Reduce -2.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS	0.22%	8,100	$2.4M	Reduce -1.5%
NKE Nike Inc. Class B	0.21%	35,198	$2.2M	New
MAA Mid-America Apartment Comm	0.18%	14,194	$2.0M	Add +17.4%
PLD Prologis Inc.	0.18%	15,421	$2.0M	Reduce -0.4%
UNP Union Pacific Corp.	0.18%	8,350	$1.9M	Reduce -0.6%
CPT Camden Property Trust	0.17%	17,040	$1.9M	Add +25.4%
AFL Aflac Inc.	0.17%	16,477	$1.8M	Add +6.0%
UDR Udr Inc.	0.16%	47,421	$1.7M	Add +24.5%
CAT Caterpillar Inc.	0.16%	2,980	$1.7M	Reduce -8.3%
UPS United Parcel Service Class B	0.16%	16,898	$1.7M	Reduce -25.8%
IBB iShares Biotechnology ETF	0.15%	9,829	$1.7M	Reduce -9.0%
MRK Merck & Co. Inc.	0.15%	15,176	$1.6M	Reduce -3.2%
DE Deere & Co.	0.14%	3,333	$1.6M	Reduce -2.1%
CRWD CrowdStrike Holdings Inc. Class A	0.14%	3,237	$1.5M	Reduce -3.0%
VGT Vanguard Info Tech ETF	0.14%	2,002	$1.5M	Add +24.0%
SPTM SS SPDR P S&P 1500 Comp ETF	0.14%	17,858	$1.5M	Reduce -0.6%
SOXX iShares Semiconductor ETF	0.13%	4,764	$1.4M	Reduce -0.3%
AVGO Broadcom Inc.	0.13%	3,979	$1.4M	Reduce -1.7%
DLR Digital Realty Trust Inc.	0.13%	8,677	$1.3M	Add +3.4%
WFC Wells Fargo & Co.	0.12%	14,056	$1.3M	No change
VNQ Vanguard Real Estate ETF	0.12%	14,398	$1.3M	Add +0.9%
ANET Arista Networks Inc.	0.11%	8,863	$1.2M	Reduce -2.0%
EMR Emerson Electric Co.	0.11%	8,650	$1.1M	Add +2.4%
XLU St Sr Utl SL SE SPDR ETF-Usd	0.10%	25,140	$1.1M	Reduce -5.1%
GLD SPDR Gold Shares	0.10%	2,654	$1.1M	Reduce -7.2%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	0.09%	12,373	$998K	Reduce -0.7%
PFF iShares Preferred & Income S	0.09%	31,915	$988K	Add +1.2%
ARE Alexandria Real Estate Equit	0.09%	19,500	$954K	Add +4.8%
CWB SS SPDR BB Conv Sec ETF	0.08%	9,975	$890K	Reduce -2.7%
LRCX Lam Research Corp.	0.08%	5,136	$879K	Reduce -1.9%
IWF iShares Russell 1000 Growth	0.08%	1,830	$866K	Reduce -2.1%
GE General Electric filed as GE AEROSPACE	0.08%	2,795	$861K	Reduce -8.9%
XLP SS Consumer Staples Sel Sect	0.08%	10,615	$825K	New
KO The Coca-Cola Co.	0.08%	11,530	$806K	Reduce -4.8%
XCEM Columbia Em Core Ex-China	0.07%	20,905	$802K	Add +0.4%
XLE SS Energy Select Sector	0.07%	17,766	$794K	Reduce -4.2%
VIG Vanguard Dividend Apprec ETF	0.07%	3,585	$788K	Reduce -41.6%
MCHP Microchip Technology Inc.	0.07%	12,336	$786K	No change
KLAC KLA Corp.	0.07%	614	$746K	Reduce -2.2%
PLTR Palantir Technologies Inc. Class A	0.07%	4,196	$746K	No change
CEG Constellation Energy	0.06%	1,934	$683K	No change
VOO Vanguard S&P 500 ETF	0.06%	1,080	$677K	Add +21.8%
EMXC iShares MSCI Emr MRK Ex Chna	0.06%	9,259	$673K	Reduce -2.1%
VZ Verizon Communications Inc.	0.06%	16,410	$668K	Add +7.4%
KIM Kimco Realty Corp.	0.06%	32,208	$653K	Add +3.9%
PFE Pfizer Inc.	0.06%	25,988	$647K	Reduce -1.1%
PPH Vaneck Pharmaceutical ETF	0.06%	6,257	$646K	Add +0.2%
KMB Kimberly-Clark Corp.	0.06%	6,058	$611K	Reduce -2.9%
SCHD Schwab US DVD Equity ETF	0.06%	21,814	$598K	Add +190.8%
SYY Sysco Corp.	0.05%	7,100	$523K	Reduce -6.4%
AMAT Applied Materials Inc.	0.05%	2,029	$521K	Reduce -11.6%
SLG SL Green Realty Corp.	0.05%	11,277	$517K	Add +3.6%
XYL Xylem Inc.	0.05%	3,732	$508K	Reduce -2.6%
PM Philip Morris International	0.05%	3,104	$498K	No change
EFA iShares MSCI Eafe ETF	0.05%	5,148	$494K	No change
SBUX Starbucks Corp.	0.04%	5,651	$476K	Reduce -1.0%
SCHW Schwab (charles) Corp.	0.04%	4,745	$474K	Add +0.0%
DHI D.R. Horton Inc.	0.04%	3,286	$473K	Reduce -1.1%
MU Micron Technology Inc.	0.04%	1,554	$444K	No change
VTV Vanguard Mrngstr Val ETF-Aui	0.04%	2,194	$419K	Add +67.7%
VWO Vanguard Ftse Emerging Marke	0.04%	7,750	$417K	Reduce -1.5%
CRM Salesforce Inc.	0.04%	1,530	$405K	Reduce -1.6%
ILMN Illumina Inc.	0.04%	3,090	$405K	Reduce -4.3%
T AT&T Inc.	0.04%	16,278	$404K	Reduce -10.3%
GWW WW Grainger Inc.	0.04%	400	$404K	No change
LHX L3HARRIS Technologies Inc.	0.04%	1,372	$403K	Reduce -2.5%
REGN Regeneron Pharmaceuticals	0.03%	485	$374K	Reduce -0.6%
REG Regency Centers Corp.	0.03%	5,378	$371K	Add +2.9%
INTU Intuit Inc.	0.03%	560	$371K	No change
BA The Boeing Co.	0.03%	1,532	$333K	Add +5.5%
LECO Lincoln Electric Holdings	0.03%	1,330	$319K	No change
BLK BlackRock Inc.	0.03%	295	$316K	Add +16.6%
CMCSA Comcast Corp. Class A	0.03%	10,474	$313K	Reduce -1.9%
XLK SS Technology Select Sector	0.03%	2,167	$312K	Add +27.3%
HUBB Hubbell Inc.	0.03%	699	$310K	No change
IAU iShares Gold Trust	0.03%	3,700	$300K	Reduce -0.6%
SCHG Schwab US Large-Cap Growth	0.03%	8,747	$285K	Add +0.0%
A Agilent Technologies Inc.	0.03%	2,053	$279K	Reduce -2.0%
ALEX Alexander & Baldwin Inc.	0.03%	13,259	$274K	Add +0.0%
AMD Advanced Micro Devices	0.03%	1,270	$272K	Reduce -3.0%
MMM 3M Co.	0.03%	1,692	$271K	Reduce -3.7%
SCHB Schwab US Broad Market ETF	0.03%	10,234	$268K	New
MAR Marriott International Class A	0.02%	843	$262K	Reduce -25.1%
ECL Ecolab Inc.	0.02%	989	$260K	Add +0.2%
ADP Automatic Data Processing	0.02%	994	$256K	Reduce -14.6%
SPDW Ste STR SPDR PT DW Eu ETF	0.02%	5,673	$252K	Reduce -0.8%
XLI SS Industrial Select Sector	0.02%	1,618	$251K	No change
EXC Exelon Corp.	0.02%	5,687	$248K	No change
DLS Wisdomtree Intl S/C DVD Fund	0.02%	3,015	$244K	Reduce -2.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP	0.02%	4,308	$237K	New
LEN Lennar Corp. Class A	0.02%	2,267	$233K	Reduce -1.4%
SYK Stryker Corp.	0.02%	658	$231K	New
MDLZ Mondelez International Inc. Class A	0.02%	4,290	$231K	Reduce -1.5%
NVO Novo-Nordisk A/S-Spons ADR	0.02%	4,519	$230K	Add +2.7%
FIBK First Interstate Bancsys-A	0.02%	6,563	$227K	No change
TXN Texas Instruments Inc.	0.02%	1,294	$224K	New
WY Weyerhaeuser Co.	0.02%	9,473	$224K	Reduce -1.6%
ED Consolidated Edison Inc.	0.02%	2,200	$219K	New
SRE Sempra	0.02%	2,470	$218K	No change
AMH American Homes 4 Rent- A	0.02%	6,501	$209K	Reduce -1.2%
VB Vanguard Most SM-Cap ETF-Usd	0.02%	783	$202K	New
CWH Camping World Holdings Inc. Class A	0.01%	15,000	$146K	No change
BDN Brandywine Realty Trust	0.01%	49,484	$144K	No change

Portfolio Sells Q3 2025 → Q4 2025


J Jacobs Solutions Inc.	Reduce -17.1%	0.94%	−0.38
NOC Northrop Grumman Corp.	Reduce -1.1%	1.57%	−0.17
PG The Procter & Gamble Co.	Reduce -0.6%	1.51%	−0.16
TEL Te Connectivity PLC	Reduce -14.0%	0.85%	−0.13
PYPL PayPal Holdings Inc.	Reduce -3.6%	0.55%	−0.12
META Meta Platforms Inc. Class A	Reduce -0.3%	0.69%	−0.10
WSM Williams-Sonoma Inc.	Reduce -1.5%	0.67%	−0.09
ASML ASML Holding NV-NY Reg SHS	Reduce -15.6%	0.91%	−0.09
NXPI NXP Semiconductors NV	Reduce -0.7%	1.03%	−0.09
HON Honeywell International Inc.	Reduce -0.1%	0.79%	−0.09
APD Air Products & Chemicals Inc.	Reduce -0.9%	0.60%	−0.09
BRK.A Berkshire Hathaway Inc. Class A	Sold out	0.00%	−0.07
QQQ Invesco QQQ Trust Series 1	Reduce -5.0%	1.21%	−0.07
VTI VG Morningstar TS MKT ETF-US	Reduce -0.9%	3.89%	−0.06
JPM JPMorgan Chase & Co.	Reduce -2.4%	1.94%	−0.06
VIG Vanguard Dividend Apprec ETF	Reduce -41.6%	0.07%	−0.05
MA Mastercard Inc. Class A	Reduce -1.6%	1.26%	−0.05
ABT Abbott Laboratories	Reduce -2.0%	0.35%	−0.04
TROW T Rowe Price Group Inc.	Reduce -3.5%	0.61%	−0.04
VXF Vanguard Extended Market ETF	Reduce -11.9%	0.25%	−0.04
LMT Lockheed Martin Corp.	Reduce -0.1%	0.64%	−0.04
XOM Exxon Mobil Corp.	Reduce -12.4%	0.27%	−0.03
UPS United Parcel Service Class B	Reduce -25.8%	0.16%	−0.03
GEV GE Vernova Inc.	Sold out	0.00%	−0.03
ABBV Abbvie Inc.	Reduce -1.3%	0.41%	−0.02
VLTO Veralto Corp.	Sold out	0.00%	−0.02
ALNY Alnylam Pharmaceuticals Inc.	Sold out	0.00%	−0.02
NVDA Nvidia Corp.	Reduce -0.0%	0.67%	−0.02
VYM Vanguard High DVD Yield ETF	Reduce -2.1%	0.59%	−0.02
WMT Walmart Inc.	Reduce -7.7%	0.60%	−0.02
ANET Arista Networks Inc.	Reduce -2.0%	0.11%	−0.02
CAG Conagra Brands Inc.	Sold out	0.00%	−0.02
KMB Kimberly-Clark Corp.	Reduce -2.9%	0.06%	−0.02
CRWD CrowdStrike Holdings Inc. Class A	Reduce -3.0%	0.14%	−0.02
MDT Medtronic PLC	Reduce -0.4%	0.60%	−0.01
IWS iShares Russell Mid-Cap Valu	Reduce -3.6%	0.24%	−0.01
IEFA iShares Core MSCI Eafe ETF	Reduce -1.6%	0.60%	−0.01
T AT&T Inc.	Reduce -10.3%	0.04%	−0.01
SYY Sysco Corp.	Reduce -6.4%	0.05%	−0.01
XLU St Sr Utl SL SE SPDR ETF-Usd	Reduce -5.1%	0.10%	−0.01
UNP Union Pacific Corp.	Reduce -0.6%	0.18%	−0.01
DHI D.R. Horton Inc.	Reduce -1.1%	0.04%	−0.01
ADP Automatic Data Processing	Reduce -14.6%	0.02%	−0.01
VBR Vngrd Mrngst SL-CP Val ETF-U	Reduce -2.4%	0.22%	−0.01
GE General Electric	Reduce -8.9%	0.08%	−0.01
XYL Xylem Inc.	Reduce -2.6%	0.05%	−0.01
LEN Lennar Corp. Class A	Reduce -1.4%	0.02%	−0.01
CWB SS SPDR BB Conv Sec ETF	Reduce -2.7%	0.08%	−0.01
TSLA Tesla Inc.	Reduce -0.6%	0.24%	−0.01
XLE SS Energy Select Sector	Reduce -4.2%	0.07%	−0.01

Portfolio Buys Q3 2025 → Q4 2025


EOG EOG Resources Inc.	Add +100.3%	1.34%	+0.61
AVEM Avantis Emerging Markets Eq	Add +480.1%	0.53%	+0.44
NKE Nike Inc. Class B	New	0.21%	+0.21
NOW ServiceNow Inc.	Add +61.2%	0.73%	+0.17
VRTX Vertex Pharmaceuticals Inc.	Add +5.6%	0.95%	+0.15
IQV Iqvia Holdings Inc.	Add +0.3%	0.93%	+0.13
BMY Bristol-Myers Squibb Co.	Add +0.3%	0.58%	+0.08
EW Edwards Lifesciences Corp.	Add +7.8%	0.62%	+0.08
XLP SS Consumer Staples Sel Sect	New	0.08%	+0.08
SPY SS SPDR S&P 500 ETF Trust-US	Add +39.0%	0.27%	+0.08
AMZN Amazon.com Inc.	Add +0.4%	2.04%	+0.05
VEU Vanguard Ftse All-World Ex-U	Add +1.6%	2.42%	+0.04
PEP Pepsico Inc.	Add +2.9%	1.96%	+0.04
SCHD Schwab US DVD Equity ETF	Add +190.8%	0.06%	+0.04
CPT Camden Property Trust	Add +25.4%	0.17%	+0.04
COST Costco Wholesale Corp.	Add +13.9%	1.07%	+0.03
VEA Vanguard Ftse Developed ETF	Add +0.3%	1.84%	+0.03
SMH Vaneck Semiconductor ETF	Add +0.9%	0.36%	+0.03
WM Waste Management Inc.	Add +11.0%	0.39%	+0.03
UDR Udr Inc.	Add +24.5%	0.16%	+0.03
VGT Vanguard Info Tech ETF	Add +24.0%	0.14%	+0.03
SCHB Schwab US Broad Market ETF	New	0.03%	+0.03
BAC Bank of America Corp.	New	0.02%	+0.02
MAA Mid-America Apartment Comm	Add +17.4%	0.18%	+0.02
SYK Stryker Corp.	New	0.02%	+0.02
TXN Texas Instruments Inc.	New	0.02%	+0.02
ED Consolidated Edison Inc.	New	0.02%	+0.02
V Visa Inc. Class A	Add +1.1%	1.99%	+0.02
VCSH Vanguard S/T Corp. Bond ETF	Add +5.8%	0.79%	+0.02
VB Vanguard Most SM-Cap ETF-Usd	New	0.02%	+0.02
IJH iShares Core S&P Midcap ETF	Add +3.1%	1.14%	+0.02
VTV Vanguard Mrngstr Val ETF-Aui	Add +67.7%	0.04%	+0.02
AVUV Avantis US Small Cap Value	Add +3.5%	0.43%	+0.01
VOO Vanguard S&P 500 ETF	Add +21.8%	0.06%	+0.01
DIS The Walt Disney Co.	Add +4.5%	0.83%	+0.01
XLK SS Technology Select Sector	Add +27.3%	0.03%	+0.01
PPH Vaneck Pharmaceutical ETF	Add +0.2%	0.06%	+0.01
XLF SS Financial Select Sector	Add +3.1%	0.31%	+0.01
IJR iShares Core S&P Small-Cap E	Add +2.4%	0.64%	+0.00
AFL Aflac Inc.	Add +6.0%	0.17%	+0.00
RSP Invesco S&P 500 Equal Weight	Add +2.6%	0.37%	+0.00
ALEX Alexander & Baldwin Inc.	Add +0.0%	0.03%	+0.00
XCEM Columbia Em Core Ex-China	Add +0.4%	0.07%	+0.00
BLK BlackRock Inc.	Add +16.6%	0.03%	+0.00
BA The Boeing Co.	Add +5.5%	0.03%	+0.00
EMR Emerson Electric Co.	Add +2.4%	0.11%	+0.00
SCHW Schwab (charles) Corp.	Add +0.0%	0.04%	+0.00
SCHG Schwab US Large-Cap Growth	Add +0.0%	0.03%	−0.00
AEP American Electric Power	Add +0.1%	0.65%	−0.00
ECL Ecolab Inc.	Add +0.2%	0.02%	−0.00

Notes & Other Activity Q3 2025 → Q4 2025


FLAGSTAR BANK NA (FLG 6 11/01/51)	UNIT 05/07/2051	Sold out	9,200	$367Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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