# Telos Capital Management, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1567889. Source: https://holderbook.com/funds/1567889-telos-capital-management-inc/

- Reported value: $1.1B
- Positions: 201
- Weight of the ten largest: 28.2%
- Filed: 2026-07-22

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $64.4M | 222,437 | 5.7% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $40.7M | 109,957 | 3.6% | 31 |
| QUALCOMM INC | [QCOM](https://holderbook.com/stocks/QCOM/) | $32.0M | 173,332 | 2.8% | 31 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $31.2M | 87,229 | 2.7% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $30.1M | 359,801 | 2.7% | 31 |
| PALO ALTO NETWORKS INC | [PANW](https://holderbook.com/stocks/PANW/) | $29.0M | 84,926 | 2.6% | 11 |
| MORGAN STANLEY | [MS](https://holderbook.com/stocks/MS/) | $26.4M | 126,507 | 2.3% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $22.5M | 316,442 | 2.0% | 31 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $22.4M | 63,419 | 2.0% | 31 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $21.5M | 90,252 | 1.9% | 31 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $21.5M | 62,524 | 1.9% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $21.4M | 65,314 | 1.9% | 31 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $20.1M | 148,515 | 1.8% | 31 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $19.1M | 54,038 | 1.7% | 31 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $18.3M | 141,067 | 1.6% | 9 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $17.1M | 102,892 | 1.5% | 31 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $16.9M | 8,511 | 1.5% | 17 |
| COSTCO WHOLESALE CORPORATION | [COST](https://holderbook.com/stocks/COST/) | $16.6M | 17,695 | 1.5% | 31 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $16.4M | 112,178 | 1.4% | 31 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $16.2M | 49,145 | 1.4% | 31 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $15.2M | 20,277 | 1.3% | 31 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $14.9M | 193,305 | 1.3% | 31 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $14.5M | 19,627 | 1.3% | 31 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $14.4M | 28,718 | 1.3% | 31 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $14.0M | 119,153 | 1.2% | 31 |
| CARRIER GLOBAL CORPORATION | [CARR](https://holderbook.com/stocks/CARR/) | $13.8M | 187,523 | 1.2% | 25 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $13.0M | 126,197 | 1.1% | 7 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $12.7M | 33,964 | 1.1% | 31 |
| MASTERCARD INCORPORATED | [MA](https://holderbook.com/stocks/MA/) | $12.2M | 23,657 | 1.1% | 28 |
| VERTEX PHARMACEUTICALS INC | [VRTX](https://holderbook.com/stocks/VRTX/) | $12.1M | 24,289 | 1.1% | 21 |
| NORTHROP GRUMMAN CORP | [NOC](https://holderbook.com/stocks/NOC/) | $11.7M | 23,027 | 1.0% | 22 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $11.7M | 46,049 | 1.0% | 31 |
| NXP SEMICONDUCTORS N V | [NXPI](https://holderbook.com/stocks/NXPI/) | $10.7M | 38,062 | 0.9% | 28 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $10.1M | 20,361 | 0.9% | 29 |
| REPUBLIC SVCS INC | [RSG](https://holderbook.com/stocks/RSG/) | $9.6M | 44,998 | 0.8% | 25 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $9.5M | 96,183 | 0.8% | 14 |
| AMGEN INC | [AMGN](https://holderbook.com/stocks/AMGN/) | $9.4M | 25,990 | 0.8% | 31 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $9.4M | 55,644 | 0.8% | 30 |
| WILLIAMS SONOMA INC | [WSM](https://holderbook.com/stocks/WSM/) | $9.2M | 39,605 | 0.8% | 21 |
| VANGUARD SCOTTSDALE FDS | [VCSH](https://holderbook.com/stocks/VCSH/) | $9.1M | 115,170 | 0.8% | 18 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $9.1M | 47,552 | 0.8% | 28 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $9.0M | 46,755 | 0.8% | 31 |
| PNC FINL SVCS GROUP INC | [PNC](https://holderbook.com/stocks/PNC/) | $8.8M | 35,571 | 0.8% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $8.7M | 58,620 | 0.8% | 31 |
| JACOBS SOLUTIONS INC | [J](https://holderbook.com/stocks/J/) | $8.6M | 68,539 | 0.8% | 16 |
| TE CONNECTIVITY PLC | [TEL](https://holderbook.com/stocks/TEL/) | $8.6M | 42,514 | 0.8% | 6 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $8.5M | 8,374 | 0.7% | 31 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $8.0M | 58,400 | 0.7% | 31 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $7.7M | 80,020 | 0.7% | 9 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $7.7M | 87,769 | 0.7% | 31 |
| EDWARDS LIFESCIENCES CORP | [EW](https://holderbook.com/stocks/EW/) | $7.5M | 82,811 | 0.7% | 13 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $7.4M | 25,162 | 0.7% | 11 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $7.4M | 103,138 | 0.6% | 31 |
| VANGUARD SCOTTSDALE FDS | [VCIT](https://holderbook.com/stocks/VCIT/) | $7.2M | 87,276 | 0.6% | 18 |
| CBRE GROUP INC | [CBRE](https://holderbook.com/stocks/CBRE/) | $7.1M | 52,929 | 0.6% | 31 |
| RTX CORPORATION | [RTX](https://holderbook.com/stocks/RTX/) | $7.0M | 36,996 | 0.6% | 25 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $7.0M | 44,412 | 0.6% | 31 |
| RESMED INC | [RMD](https://holderbook.com/stocks/RMD/) | $7.0M | 35,801 | 0.6% | 31 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $6.9M | 72,511 | 0.6% | 31 |
| DISNEY WALT CO | [DIS](https://holderbook.com/stocks/DIS/) | $6.9M | 71,190 | 0.6% | 31 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $6.7M | 69,877 | 0.6% | 18 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $6.7M | 124,447 | 0.6% | 31 |
| LOCKHEED MARTIN CORP | [LMT](https://holderbook.com/stocks/LMT/) | $6.7M | 13,131 | 0.6% | 30 |
| REALTY INCOME CORP | [O](https://holderbook.com/stocks/O/) | $6.5M | 105,000 | 0.6% | 31 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $6.4M | 111,780 | 0.6% | 31 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $6.3M | 11,221 | 0.6% | 31 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $6.1M | 53,601 | 0.5% | 28 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $5.9M | 21,681 | 0.5% | 15 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $5.8M | 46,767 | 0.5% | 9 |
| HONEYWELL INTL INC | [HON](https://holderbook.com/stocks/HON/) | $5.8M | 25,856 | 0.5% | 1 |
| HONEYWELL AEROSPACE INC | [HONA](https://holderbook.com/stocks/HONA/) | $5.7M | 25,856 | 0.5% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $5.6M | 28,140 | 0.5% | 19 |
| AMERICAN CENTY ETF TR | [AVIV](https://holderbook.com/stocks/AVIV/) | $5.6M | 72,680 | 0.5% | 2 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $5.4M | 68,927 | 0.5% | 31 |
| SELECT SECTOR SPDR TR | [XLE](https://holderbook.com/stocks/XLE/) | $5.2M | 98,251 | 0.5% | 10 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $4.6M | 18,380 | 0.4% | 28 |
| INVESCO EXCHANGE TRADED FD T | [RSP](https://holderbook.com/stocks/RSP/) | $4.6M | 21,643 | 0.4% | 16 |
| GENUINE PARTS CO | [GPC](https://holderbook.com/stocks/GPC/) | $4.6M | 38,859 | 0.4% | 25 |
| ISHARES TR | [EFV](https://holderbook.com/stocks/EFV/) | $4.6M | 59,823 | 0.4% | 18 |
| WASTE MGMT INC DEL | [WM](https://holderbook.com/stocks/WM/) | $4.4M | 19,882 | 0.4% | 31 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $4.2M | 6,388 | 0.4% | 5 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $4.0M | 25,483 | 0.4% | 31 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $4.0M | 25,108 | 0.4% | 1 |
| AMENTUM HOLDINGS INC | [AMTM](https://holderbook.com/stocks/AMTM/) | $3.8M | 185,611 | 0.3% | 8 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $3.2M | 23,561 | 0.3% | 23 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $3.2M | 2,967 | 0.3% | 27 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $3.1M | 4,110 | 0.3% | 31 |
| CROWDSTRIKE HLDGS INC | [CRWD](https://holderbook.com/stocks/CRWD/) | $3.0M | 3,891 | 0.3% | 8 |
| ISHARES TR | [IWS](https://holderbook.com/stocks/IWS/) | $2.9M | 17,820 | 0.3% | 31 |
| ELI LILLY & CO | [LLY](https://holderbook.com/stocks/LLY/) | $2.8M | 2,302 | 0.2% | 31 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $2.7M | 11,255 | 0.2% | 31 |
| ISHARES TR | [SOXX](https://holderbook.com/stocks/SOXX/) | $2.7M | 4,211 | 0.2% | 17 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $2.6M | 28,959 | 0.2% | 28 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $2.2M | 8,094 | 0.2% | 31 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $2.1M | 4,954 | 0.2% | 7 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $2.1M | 3,289 | 0.2% | 31 |
| VANGUARD INDEX FDS | [VXF](https://holderbook.com/stocks/VXF/) | $2.0M | 8,228 | 0.2% | 31 |
| PROLOGIS INC. | [PLD](https://holderbook.com/stocks/PLD/) | $2.0M | 14,642 | 0.2% | 26 |
| AFLAC INC | [AFL](https://holderbook.com/stocks/AFL/) | $1.9M | 16,427 | 0.2% | 28 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $1.9M | 6,765 | 0.2% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.7% | +14.8% | -4.1% | 100% |
| Q1 2026 | -1.6% | -4.6% | +3.1% | 100% |
| Q4 2025 | +1.8% | +2.4% | -0.6% | 100% |
| Q3 2025 | +6.9% | +7.8% | -0.9% | 100% |
| Q2 2025 | +5.2% | +10.5% | -5.3% | 100% |
| Q1 2025 | -2.2% | -4.6% | +2.4% | 100% |
| Q4 2024 | -1.2% | +2.1% | -3.4% | 100% |
| Q3 2024 | +5.4% | +5.4% | -0.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.1B | 201 |
| Q1 2026 | $1.0B | 191 |
| Q4 2025 | $1.1B | 196 |
| Q3 2025 | $1.0B | 194 |
| Q2 2025 | $982.2M | 196 |
| Q1 2025 | $917.8M | 191 |
| Q4 2024 | $937.6M | 197 |
| Q3 2024 | $952.8M | 196 |
| Q2 2024 | $902.2M | 192 |
| Q1 2024 | $886.9M | 194 |
| Q4 2023 | $820.5M | 196 |
| Q3 2023 | $719.4M | 187 |