Telos Capital Management, Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 17, 2026), Telos Capital Management, Inc. reported 191 stock positions worth $1.0 billion. Its top holding was Apple (AAPL) at 5.5% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 3.7%) and Vanguard Ftse All-World Ex-U (VEU, 2.6%). Compared with Q4 2025, it opened 5 new positions, sold out of 10, added to 69 and reduced 105. The biggest buy was EOG Resources (EOG, shares +2%) and the biggest sale Oracle (ORCL, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- SAN DIEGO, CA
- CIK
- 0001567889
- Portfolio Value
- $1.0B (Q1 2026)
- SEC Filing
- 0001567889-26-000002 ↗ filed Apr 17, 2026
Holdings Value
Holdings 191 stocks · $1.0B
| AAPL Apple Inc. | 5.47% | 225,073 | $57.1M | Reduce -0.3% |
| VTI VG Morningstar TS MKT ETF-US | 3.73% | 121,288 | $38.9M | Reduce -2.5% |
| VEU Vanguard Ftse All-World Ex-U | 2.56% | 355,790 | $26.7M | Add +0.9% |
| GOOGL Alphabet Inc. Class A | 2.44% | 88,683 | $25.5M | Reduce -15.8% |
| QCOM Qualcomm Inc. | 2.35% | 190,831 | $24.6M | Add +0.9% |
| PEP Pepsico Inc. | 2.19% | 146,911 | $22.8M | Add +0.5% |
| MS Morgan Stanley | 2.06% | 130,873 | $21.5M | Reduce -1.7% |
| CVX Chevron Corp. | 2.04% | 103,076 | $21.3M | Reduce -4.6% |
| HD Home Depot Inc. | 1.99% | 63,093 | $20.8M | Add +2.2% |
| VEA Vanguard Ftse Developed ETF | 1.98% | 321,898 | $20.6M | Add +1.9% |
| EOG EOG Resources Inc. | 1.93% | 139,152 | $20.1M | Add +1.7% |
| AMZN Amazon.com Inc. | 1.91% | 95,539 | $19.9M | Add +0.8% |
| JPM JPMorgan Chase & Co. | 1.85% | 65,594 | $19.3M | Add +1.4% |
| V Visa Inc. Class A | 1.82% | 62,770 | $19.0M | Add +3.1% |
| PG The Procter & Gamble Co. | 1.55% | 112,266 | $16.2M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 1.50% | 54,471 | $15.6M | Reduce -5.3% |
| NOC Northrop Grumman Corp. | 1.44% | 22,094 | $15.1M | Reduce -25.3% |
| COST Costco Wholesale Corp. | 1.41% | 14,756 | $14.7M | Add +10.6% |
| TRV The Travelers Cos Inc. | 1.37% | 49,042 | $14.3M | Reduce -5.0% |
| PANW Palo Alto Networks Inc. | 1.32% | 86,030 | $13.8M | Add +8.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.31% | 28,622 | $13.7M | Add +2.7% |
| IVV iShares Core S&P 500 ETF | 1.26% | 20,083 | $13.1M | Add +0.8% |
| IJH iShares Core S&P Midcap ETF | 1.23% | 190,069 | $12.8M | Add +2.3% |
| AVDV Avantis Intl S/C Value ETF | 1.22% | 127,312 | $12.7M | Add +0.7% |
| MSFT Microsoft Corp. | 1.17% | 33,120 | $12.3M | Add +10.6% |
| QQQ Invesco QQQ Trust Series 1 | 1.16% | 20,952 | $12.1M | Reduce -1.2% |
| MA Mastercard Inc. Class A | 1.13% | 23,650 | $11.8M | Reduce -0.4% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 1.12% | 8,814 | $11.6M | Reduce -3.8% |
| JNJ Johnson & Johnson | 1.09% | 46,466 | $11.4M | Reduce -3.1% |
| HON Honeywell International Inc. | 1.05% | 48,383 | $10.9M | Add +10.7% |
| CARR Carrier Global Corp. | 1.01% | 187,778 | $10.6M | Add +1.0% |
| VRTX Vertex Pharmaceuticals Inc. | 0.99% | 23,234 | $10.4M | Add +3.8% |
| PSX Phillips 66 | 0.99% | 56,791 | $10.3M | Reduce -1.8% |
| NFLX Netflix Inc. | 0.98% | 106,801 | $10.3M | Add +125.0% |
| NOW ServiceNow Inc. | 0.97% | 96,572 | $10.1M | Add +89.6% |
| GS Goldman Sachs Group Inc. | 0.93% | 11,493 | $9.7M | Reduce -1.8% |
| CSCO Cisco Systems Inc. | 0.92% | 124,028 | $9.6M | Reduce -0.6% |
| RSG Republic Services Inc. | 0.92% | 43,717 | $9.6M | Add +5.5% |
| NXPI NXP Semiconductors NV | 0.91% | 48,173 | $9.5M | Reduce -5.8% |
| J Jacobs Solutions Inc. | 0.88% | 72,323 | $9.2M | Reduce -5.1% |
| AMGN Amgen Inc. | 0.88% | 26,012 | $9.2M | Reduce -3.6% |
| DHR Danaher Corp. | 0.86% | 47,332 | $9.0M | Reduce -0.7% |
| TEL Te Connectivity PLC | 0.83% | 41,459 | $8.7M | Add +3.0% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.81% | 107,298 | $8.5M | Add +1.0% |
| LMT Lockheed Martin Corp. | 0.79% | 13,681 | $8.3M | Reduce -3.1% |
| NEE Nextera Energy Inc. | 0.77% | 86,863 | $8.1M | Reduce -2.2% |
| RMD Resmed Inc. | 0.77% | 35,799 | $8.0M | Add +8.3% |
| IQV Iqvia Holdings Inc. | 0.76% | 46,575 | $7.9M | Add +5.3% |
| AEP American Electric Power | 0.75% | 59,478 | $7.8M | Reduce -2.2% |
| PNC PNC Financial Services Group | 0.72% | 36,287 | $7.6M | Add +0.2% |
| APD Air Products & Chemicals Inc. | 0.72% | 25,803 | $7.5M | Reduce -0.4% |
| ROK Rockwell Automation Inc. | 0.71% | 20,529 | $7.4M | Add +2.6% |
| WSM Williams-Sonoma Inc. | 0.69% | 39,705 | $7.2M | Reduce -0.8% |
| IJR iShares Core S&P Small-Cap E | 0.69% | 58,200 | $7.2M | Add +1.8% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.69% | 74,457 | $7.2M | Reduce -5.1% |
| CBRE CBRE Group Inc. Class A | 0.68% | 52,693 | $7.1M | Add +9.1% |
| BMY Bristol-Myers Squibb Co. | 0.67% | 116,088 | $7.0M | Add +0.1% |
| SO The Southern Co. | 0.66% | 70,872 | $6.8M | Reduce -1.2% |
| ENB Enbridge Inc. | 0.65% | 125,736 | $6.8M | Reduce -13.1% |
| VYM Vanguard High DVD Yield ETF | 0.65% | 45,783 | $6.8M | Add +3.8% |
| VCIT Vanguard Int-Term Corporate | 0.65% | 81,500 | $6.7M | Add +4.3% |
| NVDA Nvidia Corp. | 0.64% | 38,410 | $6.7M | Add +0.1% |
| RTX RTX Corp. | 0.64% | 34,591 | $6.7M | Reduce -32.3% |
| WMT Walmart Inc. | 0.64% | 53,587 | $6.7M | Reduce -7.0% |
| EW Edwards Lifesciences Corp. | 0.63% | 82,415 | $6.6M | Add +6.0% |
| MCD McDonald's Corp. | 0.63% | 21,142 | $6.6M | Add +0.8% |
| AVEM Avantis Emerging Markets Eq | 0.62% | 80,940 | $6.5M | Add +8.9% |
| META Meta Platforms Inc. Class A | 0.61% | 11,216 | $6.4M | Reduce -0.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.61% | 70,855 | $6.4M | Reduce -1.2% |
| O Realty Income Corp. | 0.61% | 103,491 | $6.3M | Reduce -0.2% |
| MDT Medtronic PLC | 0.58% | 69,618 | $6.0M | Add +3.2% |
| XLE SS Energy Select Sector | 0.57% | 96,711 | $5.9M | Add +444.4% |
| AVIV Avantis Intl LRG Cap Val ETF | 0.51% | 71,735 | $5.4M | New |
| AVUV Avantis US Small Cap Value | 0.49% | 46,173 | $5.1M | Add +1.4% |
| AMTM Amentum Holdings Inc. | 0.47% | 189,901 | $5.0M | Add +1.3% |
| EFV iShares MSCI Eafe Value ETF | 0.44% | 61,682 | $4.6M | Add +3.2% |
| GPC Genuine Parts Co. | 0.43% | 42,768 | $4.5M | Reduce -0.6% |
| WM Waste Management Inc. | 0.42% | 19,080 | $4.4M | Add +1.1% |
| SMH Vaneck Semiconductor ETF | 0.40% | 10,787 | $4.1M | Reduce -0.4% |
| XOM Exxon Mobil Corp. | 0.39% | 24,020 | $4.1M | Add +0.6% |
| ABBV Abbvie Inc. | 0.39% | 18,719 | $4.1M | Reduce -1.9% |
| RSP Invesco S&P 500 Equal Weight | 0.39% | 21,187 | $4.1M | Add +2.3% |
| NVS Novartis AG-Sponsored ADR | 0.38% | 25,703 | $3.9M | Reduce -2.2% |
| ABT Abbott Laboratories | 0.28% | 28,859 | $3.0M | Reduce -3.4% |
| IWS iShares Russell Mid-Cap Valu | 0.26% | 18,489 | $2.7M | Add +3.3% |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.24% | 11,744 | $2.6M | Add +3.5% |
| VXF Vanguard Extended Market ETF | 0.24% | 12,208 | $2.5M | Reduce -3.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.23% | 3,755 | $2.4M | Reduce -12.6% |
| LLY Eli Lilly & Co. | 0.20% | 2,301 | $2.1M | Reduce -1.3% |
| CAT Caterpillar Inc. | 0.20% | 2,951 | $2.1M | Reduce -1.0% |
| PLD Prologis Inc. | 0.19% | 15,109 | $2.0M | Reduce -2.0% |
| UNP Union Pacific Corp. | 0.19% | 8,132 | $2.0M | Reduce -2.6% |
| NKE Nike Inc. Class B | 0.19% | 36,850 | $1.9M | Add +4.7% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.18% | 21,069 | $1.9M | Reduce -67.2% |
| DE Deere & Co. | 0.18% | 3,274 | $1.8M | Reduce -1.8% |
| AFL Aflac Inc. | 0.17% | 16,427 | $1.8M | Reduce -0.3% |
| TSLA Tesla Inc. | 0.17% | 4,777 | $1.8M | Reduce -15.1% |
| MRK Merck & Co. Inc. | 0.17% | 14,360 | $1.7M | Reduce -5.4% |
| MAA Mid-America Apartment Comm | 0.17% | 14,126 | $1.7M | Reduce -0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.16% | 6,929 | $1.7M | Reduce -14.5% |
Portfolio Sells Q4 2025 → Q1 2026
| ORCL Oracle Corp. | Reduce -92.0% | 0.05% | −0.74 |
| GOOGL Alphabet Inc. Class A | Reduce -15.8% | 2.44% | −0.63 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.55 |
| TROW T Rowe Price Group Inc. | Reduce -67.2% | 0.18% | −0.43 |
| IVE iShares S&P 500 Value ETF | Sold out | 0.00% | −0.37 |
| XLF SS Financial Select Sector | Sold out | 0.00% | −0.31 |
| AAPL Apple Inc. | Reduce -0.3% | 5.47% | −0.25 |
| RTX RTX Corp. | Reduce -32.3% | 0.64% | −0.23 |
| GOOG Alphabet Inc. Class C | Reduce -5.3% | 1.50% | −0.19 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.5% | 3.73% | −0.16 |
| DHR Danaher Corp. | Reduce -0.7% | 0.86% | −0.16 |
| DIS The Walt Disney Co. | Reduce -5.1% | 0.69% | −0.14 |
| MS Morgan Stanley | Reduce -1.7% | 2.06% | −0.14 |
| MA Mastercard Inc. Class A | Reduce -0.4% | 1.13% | −0.13 |
| NOC Northrop Grumman Corp. | Reduce -25.3% | 1.44% | −0.13 |
| NXPI NXP Semiconductors NV | Reduce -5.8% | 0.91% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -0.1% | 0.61% | −0.08 |
| TSLA Tesla Inc. | Reduce -15.1% | 0.17% | −0.07 |
| ABT Abbott Laboratories | Reduce -3.4% | 0.28% | −0.07 |
| IBM Intl Business Machines Corp. | Reduce -14.5% | 0.16% | −0.06 |
| GPC Genuine Parts Co. | Reduce -0.6% | 0.43% | −0.06 |
| J Jacobs Solutions Inc. | Reduce -5.1% | 0.88% | −0.06 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.2% | 1.16% | −0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -12.6% | 0.23% | −0.04 |
| LLY Eli Lilly & Co. | Reduce -1.3% | 0.20% | −0.03 |
| GS Goldman Sachs Group Inc. | Reduce -1.8% | 0.93% | −0.03 |
| TRV The Travelers Cos Inc. | Reduce -5.0% | 1.37% | −0.03 |
| ALEX Alexander & Baldwin Inc. | Sold out | 0.00% | −0.03 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.02 |
| LEN Lennar Corp. Class A | Sold out | 0.00% | −0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −0.02 |
| ED Consolidated Edison Inc. | Sold out | 0.00% | −0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.02 |
| MAA Mid-America Apartment Comm | Reduce -0.5% | 0.17% | −0.02 |
| ABBV Abbvie Inc. | Reduce -1.9% | 0.39% | −0.02 |
| VGT Vanguard Info Tech ETF | Reduce -7.1% | 0.12% | −0.02 |
| CPT Camden Property Trust | Reduce -0.1% | 0.16% | −0.02 |
| CWH Camping World Holdings Inc. Class A | Sold out | 0.00% | −0.01 |
| AVGO Broadcom Inc. | Reduce -0.8% | 0.12% | −0.01 |
| GE General Electric | Reduce -8.9% | 0.07% | −0.01 |
| UDR Udr Inc. | Reduce -0.4% | 0.15% | −0.01 |
| SLG SL Green Realty Corp. | Reduce -1.5% | 0.04% | −0.01 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -24.3% | 0.03% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -2.2% | 0.07% | −0.01 |
| VXF Vanguard Extended Market ETF | Reduce -3.9% | 0.24% | −0.01 |
| SCHW Schwab (charles) Corp. | Reduce -12.3% | 0.04% | −0.01 |
| LECO Lincoln Electric Holdings | Reduce -25.0% | 0.02% | −0.01 |
| BA The Boeing Co. | Reduce -13.7% | 0.03% | −0.01 |
| ILMN Illumina Inc. | Reduce -11.1% | 0.03% | −0.01 |
| VNQ Vanguard Real Estate ETF | Reduce -7.2% | 0.11% | −0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| EOG EOG Resources Inc. | Add +1.7% | 1.93% | +0.59 |
| NFLX Netflix Inc. | Add +125.0% | 0.98% | +0.57 |
| AVIV Avantis Intl LRG Cap Val ETF | New | 0.51% | +0.51 |
| XLE SS Energy Select Sector | Add +444.4% | 0.57% | +0.49 |
| COST Costco Wholesale Corp. | Add +10.6% | 1.41% | +0.34 |
| HON Honeywell International Inc. | Add +10.7% | 1.05% | +0.25 |
| NOW ServiceNow Inc. | Add +89.6% | 0.97% | +0.24 |
| PEP Pepsico Inc. | Add +0.5% | 2.19% | +0.23 |
| VEU Vanguard Ftse All-World Ex-U | Add +0.9% | 2.56% | +0.14 |
| VEA Vanguard Ftse Developed ETF | Add +1.9% | 1.98% | +0.14 |
| XOM Exxon Mobil Corp. | Add +0.6% | 0.39% | +0.12 |
| AVDV Avantis Intl S/C Value ETF | Add +0.7% | 1.22% | +0.11 |
| RSG Republic Services Inc. | Add +5.5% | 0.92% | +0.10 |
| CARR Carrier Global Corp. | Add +1.0% | 1.01% | +0.10 |
| AVEM Avantis Emerging Markets Eq | Add +8.9% | 0.62% | +0.09 |
| BMY Bristol-Myers Squibb Co. | Add +0.1% | 0.67% | +0.09 |
| IJH iShares Core S&P Midcap ETF | Add +2.3% | 1.23% | +0.09 |
| VYM Vanguard High DVD Yield ETF | Add +3.8% | 0.65% | +0.06 |
| AVUV Avantis US Small Cap Value | Add +1.4% | 0.49% | +0.06 |
| IJR iShares Core S&P Small-Cap E | Add +1.8% | 0.69% | +0.05 |
| VRTX Vertex Pharmaceuticals Inc. | Add +3.8% | 0.99% | +0.05 |
| EFV iShares MSCI Eafe Value ETF | Add +3.2% | 0.44% | +0.04 |
| VOO Vanguard S&P 500 ETF | Add +69.2% | 0.10% | +0.04 |
| VCIT Vanguard Int-Term Corporate | Add +4.3% | 0.65% | +0.04 |
| T AT&T Inc. | Add +62.1% | 0.07% | +0.04 |
| SCHD Schwab US DVD Equity ETF | Add +40.9% | 0.09% | +0.03 |
| WM Waste Management Inc. | Add +1.1% | 0.42% | +0.03 |
| MCD McDonald's Corp. | Add +0.8% | 0.63% | +0.03 |
| RMD Resmed Inc. | Add +8.3% | 0.77% | +0.03 |
| CAH Cardinal Health Inc. | New | 0.03% | +0.03 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +1.0% | 0.81% | +0.03 |
| GEV GE Vernova Inc. | New | 0.02% | +0.02 |
| IWS iShares Russell Mid-Cap Valu | Add +3.3% | 0.26% | +0.02 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +3.5% | 0.24% | +0.02 |
| VTRS Viatris Inc. | New | 0.02% | +0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +2.3% | 0.39% | +0.02 |
| GILD Gilead Sciences Inc. | New | 0.02% | +0.02 |
| PNC PNC Financial Services Group | Add +0.2% | 0.72% | +0.02 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Add +5.4% | 0.12% | +0.02 |
| EW Edwards Lifesciences Corp. | Add +6.0% | 0.63% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +28.1% | 0.16% | +0.01 |
| XLP SS Consumer Staples Sel Sect | Add +6.2% | 0.09% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +0.9% | 0.05% | +0.01 |
| HD Home Depot Inc. | Add +2.2% | 1.99% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +2.7% | 1.31% | +0.01 |
| CRM Salesforce Inc. | Add +64.4% | 0.04% | +0.01 |
| PM Philip Morris International | Add +8.2% | 0.05% | +0.01 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Add +1.1% | 0.10% | +0.00 |
| AMH American Homes 4 Rent- A | Add +23.0% | 0.02% | +0.00 |
| WY Weyerhaeuser Co. | Add +0.3% | 0.02% | +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 |