CIK: 0001567889
Total reported value
$1.0B
Reporting period: 2026-03-31 · Number of holdings: 191
Telos Capital Management, Inc. disclosed 191 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.0B and a quarterly turnover rate of 14.9%.
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Telos Capital Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.015 — mathematically equivalent to about 66 equally-sized positions, well below its 191 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.38), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 52% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim ORCL
-92.0% -$7.9M
Trim QCOM
+0.9% -$7.8M
Trim GOOGL
-15.8% -$7.5M
Add EOG
+1.7% $5.8M
Add NFLX
+125.0% $5.8M
Add XLE
+444.4% $5.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 5.47% | -0.25% | -0.28% | |
| 2 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 3.73% | -0.16% | -2.47% | |
| 3 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 2.56% | +0.14% | +0.87% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.44% | -0.63% | -15.82% | |
| 5 | QCOM | Qualcomm INC | Stock-Tech | 2.35% | -0.67% | +0.91% | |
| 6 | PEP | Pepsico INC | Stock-Consumer Staples | 2.19% | +0.23% | +0.46% | |
| 7 | MS | Morgan Stanley | Stock-Financials | 2.06% | -0.14% | -1.70% | |
| 8 | CVX | Chevron CORP | Stock-Energy | 2.04% | +0.50% | -4.58% | |
| 9 | HD | Home Depot INC | Stock-Consumer Disc | 1.99% | — | +2.23% | |
| 10 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 1.98% | +0.14% | +1.87% | |
| 11 | EOG | Eog Resources INC | Stock-Energy | 1.93% | +0.59% | +1.72% | |
| 12 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.91% | -0.13% | +0.76% | |
| 13 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.85% | -0.09% | +1.36% | |
| 14 | V | Visa Inc-class A Shares | Stock-Financials | 1.82% | -0.17% | +3.12% | |
| 15 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 1.55% | — | -0.91% | |
| 16 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.50% | -0.18% | -5.32% | |
| 17 | NOC | Northrop Grumman CORP | Stock-Industrials | 1.44% | -0.13% | -25.28% | |
| 18 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 1.41% | +0.34% | +10.63% | |
| 19 | TRV | Travelers Cos Inc/the | Stock-Financials | 1.37% | — | -5.04% | |
| 20 | PANW | Palo Alto Networks INC | Stock-Tech | 1.32% | -0.05% | +8.02% | |
| 21 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.31% | — | +2.66% | |
| 22 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.26% | — | +0.76% | |
| 23 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 1.23% | — | +2.32% | |
| 24 | AVDV | Avantis Intl S/c Value ETF | ETF-Other | 1.22% | +0.11% | +0.71% | |
| 25 | MSFT | Microsoft CORP | Stock-Tech | 1.17% | -0.18% | +10.60% | |
| 26 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 1.16% | -0.05% | -1.20% | |
| 27 | MA | Mastercard INC - A | Stock-Financials | 1.13% | -0.13% | -0.36% | |
| 28 | ASML | ASML Holding N.V. | Stock-Tech | 1.12% | +0.21% | -3.76% | |
| 29 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.09% | +0.17% | -3.06% | |
| 30 | HON | Honeywell International INC | Stock-Industrials | 1.05% | +0.26% | +10.71% | |
| 31 | CARR | Carrier Global CORP | Stock-Industrials | 1.01% | — | +0.97% | |
| 32 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 0.99% | — | +3.83% | |
| 33 | PSX | Phillips 66 | Stock-Energy | 0.99% | +0.29% | -1.75% | |
| 34 | NFLX | Netflix INC | Stock-Comm Services | 0.98% | +0.56% | +124.97% | |
| 35 | NOW | Servicenow INC | Stock-Tech | 0.97% | +0.24% | +89.58% | |
| 36 | GS | Goldman Sachs Group INC | Stock-Financials | 0.93% | — | -1.83% | |
| 37 | CSCO | Cisco Systems INC | Stock-Tech | 0.92% | — | -0.59% | |
| 38 | RSG | Republic Services INC | Stock-Industrials | 0.92% | +0.10% | +5.50% | |
| 39 | NXPI | NXP Semiconductors N.V. | Stock-Tech | 0.91% | -0.12% | -5.75% | |
| 40 | J | Jacobs Solutions INC | Stock-Industrials | 0.88% | -0.06% | -5.06% | |
| 41 | AMGN | Amgen INC | Stock-Healthcare | 0.88% | — | -3.62% | |
| 42 | DHR | Danaher CORP | Stock-Healthcare | 0.86% | -0.16% | -0.65% | |
| 43 | TEL | TE Connectivity plc | Stock-Tech | 0.83% | — | +3.01% | |
| 44 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 0.81% | — | +1.01% | |
| 45 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.79% | +0.15% | -3.10% | |
| 46 | NEE | Nextera Energy INC | Stock-Utilities | 0.77% | +0.11% | -2.19% | |
| 47 | RMD | Resmed INC | Stock-Healthcare | 0.77% | — | +8.26% | |
| 48 | IQV | Iqvia Holdings INC | Stock-Healthcare | 0.76% | -0.17% | +5.34% | |
| 49 | AEP | American Electric Power | Stock-Utilities | 0.75% | +0.10% | -2.19% | |
| 50 | PNC | Pnc Financial Services Group | Stock-Financials | 0.72% | — | +0.23% |
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+21.9%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 191 | $1.0B | 15 | |
| 2025-12-31 | 196 | $1.1B | 9 | |
| 2025-09-30 | 194 | $1.0B | 21 | |
| 2025-06-30 | 196 | $982.2M | 0 | |
| 2025-03-31 | 191 | $917.8M | 100 | |
| 2024-12-31 | 197 | $937.6M | 0 | |
| 2024-09-30 | 196 | $952.8M | 0 | |
| 2024-06-30 | 192 | $902.2M | 0 | |
| 2024-03-31 | 194 | $886.9M | 0 | |
| 2023-12-31 | 196 | $820.5M | 0 | |
| 2023-09-30 | 187 | $719.4M | 0 | |
| 2023-06-30 | 192 | $750.2M | 0 | |
| 2023-03-31 | 191 | $716.5M | 0 | |
| 2022-12-31 | 194 | $686.9M | 0 | |
| 2022-09-30 | 171 | $607.6M | 0 | |
| 2022-06-30 | 172 | $654.7M | 0 | |
| 2022-03-31 | 185 | $770.0M | 0 | |
| 2021-12-31 | 188 | $799.9M | 0 | |
| 2021-09-30 | 180 | $730.6M | 0 | |
| 2021-06-30 | 184 | $755.6M | 96 | |
| 2021-03-31 | 177 | $696.1M | 11 | |
| 2020-12-31 | 170 | $656.2M | 18 | |
| 2020-09-30 | 169 | $572.7M | 16 | |
| 2020-06-30 | 170 | $516.7M | 34 | |
| 2020-03-31 | 168 | $403.6M | 36 | |
| 2019-12-31 | 181 | $438.2M | 22 | |
| 2019-09-30 | 170 | $365.0M | 12 | |
| 2019-06-30 | 155 | $341.3M | 10 | |
| 2019-03-31 | 155 | $320.8M | 21 | |
| 2018-12-31 | 147 | $270.2M | 23 | |
| 2018-09-30 | 156 | $312.7M | 11 | |
| 2018-06-30 | 154 | $290.3M | 20 | |
| 2018-03-31 | 150 | $281.4M | 14 | |
| 2017-12-31 | 153 | $283.3M | 16 | |
| 2017-09-30 | 147 | $259.1M | 17 | |
| 2017-06-30 | 146 | $250.3M | 9 | |
| 2017-03-31 | 146 | $240.1M | 18 | |
| 2016-12-31 | 141 | $224.8M | 17 | |
| 2016-09-30 | 137 | $214.8M | 14 | |
| 2016-06-30 | 139 | $204.5M | 14 | |
| 2016-03-31 | 141 | $190.7M | 18 | |
| 2015-12-31 | 145 | $185.5M | 21 | |
| 2015-09-30 | 129 | $163.6M | 22 | |
| 2015-06-30 | 143 | $181.2M | 16 | |
| 2015-03-31 | 138 | $171.3M | 17 | |
| 2014-12-31 | 143 | $164.0M | 19 | |
| 2014-09-30 | 144 | $160.8M | 13 | |
| 2014-06-30 | 146 | $161.7M | 21 | |
| 2014-03-31 | 143 | $143.0M | 23 | |
| 2013-12-31 | 140 | $136.4M | 15 | |
| 2013-09-30 | 135 | $123.2M | 20 | |
| 2013-06-30 | 128 | $113.9M | 0 |
Telos Capital Management, Inc.'s most significant position changes for 2026-03-31: Sold out: Paypal Holdings INC (PYPL); New buy: Avantis Int Lrg Cap Val ETF (AVIV); Sold out: Ishares S&p 500 Value ETF (IVE); Sold out: Ss Financial Select Sector (XLF); Trim: Oracle CORP (ORCL) — shares -92.04%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EOG | Eog Resources INC | +0.6% | +1.72% | Add |
| 2 | NFLX | Netflix INC | +0.6% | +124.97% | Add |
| 3 | XLE | Ss Energy Select Sector | +0.5% | +444.36% | Add |
| 4 | CVX | Chevron CORP | +0.5% | -4.58% | Trim |
| 5 | COST | Costco Wholesale CORP | +0.3% | +10.63% | Add |
| 6 | PSX | Phillips 66 | +0.3% | -1.75% | Trim |
| 7 | HON | Honeywell International INC | +0.3% | +10.71% | Add |
| 8 | NOW | Servicenow INC | +0.2% | +89.58% | Add |
| 9 | PEP | Pepsico INC | +0.2% | +0.46% | Add |
| 10 | ASML | ASML Holding N.V. | +0.2% | -3.76% | Trim |
| 11 | JNJ | Johnson & Johnson | +0.2% | -3.06% | Trim |
| 12 | LMT | Lockheed Martin CORP | +0.2% | -3.10% | Trim |
| 13 | VEA | Vanguard Ftse Developed ETF | +0.1% | +1.87% | Add |
| 14 | VEU | Vanguard Ftse All-world Ex-u | +0.1% | +0.87% | Add |
| 15 | XOM | Exxon Mobil CORP | +0.1% | +0.56% | Add |
| 16 | APD | Air Products & Chemicals INC | +0.1% | -0.43% | Trim |
| 17 | NEE | Nextera Energy INC | +0.1% | -2.19% | Trim |
| 18 | AVDV | Avantis Intl S/c Value ETF | +0.1% | +0.71% | Add |
| 19 | RSG | Republic Services INC | +0.1% | +5.50% | Add |
| 20 | AEP | American Electric Power | +0.1% | -2.19% | Trim |
| 21 | AVEM | Avantis Emerging Markets Eq | +0.1% | +8.89% | Add |
| 22 | BMY | Bristol-myers Squibb Co | +0.1% | +0.06% | Add |
| 23 | QQQ | Invesco Qqq Trust Series 1 | -0.1% | -1.20% | Trim |
| 24 | PANW | Palo Alto Networks INC | -0.1% | +8.02% | Add |
| 25 | J | Jacobs Solutions INC | -0.1% | -5.06% | Trim |
| 26 | ABT | Abbott Laboratories | -0.1% | -3.38% | Trim |
| 27 | META | Meta Platforms Inc-class A | -0.1% | -0.13% | Trim |
| 28 | JPM | Jpmorgan Chase & Co | -0.1% | +1.36% | Add |
| 29 | NXPI | NXP Semiconductors N.V. | -0.1% | -5.75% | Trim |
| 30 | AMZN | Amazon.com INC | -0.1% | +0.76% | Add |
| 31 | NOC | Northrop Grumman CORP | -0.1% | -25.28% | Trim |
| 32 | MA | Mastercard INC - A | -0.1% | -0.36% | Trim |
| 33 | MS | Morgan Stanley | -0.1% | -1.70% | Trim |
| 34 | DIS | Walt Disney Co/the | -0.1% | -5.09% | Trim |
| 35 | VTI | Vanguard Total Stock Mkt ETF | -0.2% | -2.47% | Trim |
| 36 | DHR | Danaher CORP | -0.2% | -0.65% | Trim |
| 37 | V | Visa Inc-class A Shares | -0.2% | +3.12% | Add |
| 38 | IQV | Iqvia Holdings INC | -0.2% | +5.34% | Add |
| 39 | GOOG | Alphabet Inc-cl C | -0.2% | -5.32% | Trim |
| 40 | MSFT | Microsoft CORP | -0.2% | +10.60% | Add |
| 41 | RTX | Rtx CORP | -0.2% | -32.26% | Trim |
| 42 | AAPL | Apple INC | -0.3% | -0.28% | Trim |
| 43 | TROW | T Rowe Price Group INC | -0.4% | -67.15% | Trim |
| 44 | GOOGL | Alphabet Inc-cl A | -0.6% | -15.82% | Trim |
| 45 | QCOM | Qualcomm INC | -0.7% | +0.91% | Add |
| 46 | ORCL | Oracle CORP | -0.7% | -92.04% | Trim |
| 47 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| 48 | AVIV | Avantis Int Lrg Cap Val ETF | — | NEW | New buy |
| 49 | IVE | Ishares S&p 500 Value ETF | — | EXIT | Sold out |
| 50 | XLF | Ss Financial Select Sector | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-17 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-22 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-04 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-05 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-04-30 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-27 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-10-21 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-01 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-25 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-31 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-01 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-21 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-27 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-27 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-10-31 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-08 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-02 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-21 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-19 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-15 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-28 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-02 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-27 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-23 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-01 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-23 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-31 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-19 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-18 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-31 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-26 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-27 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-24 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-31 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-03 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-28 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-08 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-26 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-04 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-08 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-28 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-03 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-05 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-05 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-06 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-04 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-09 | 13F-HR | View on EDGAR |
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