Telos Capital Management, Inc.
Long book
$1.04B
Q1 2026
Positions
191
Top-10 weight
27%
concentration
Last quarter
+12.6%
SPY +14.8%
Turnover
7%
of book per quarter
Strategy in plain words
auto-generated from filingsTelos Capital Management, Inc. is an institutional manager, running a $1.04B US long book across 191 positions.
The portfolio is moderately concentrated (top 10 ≈ 27% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: APPLE INC, VANGUARD TOTAL STOCK MKT ETF, VANGUARD FTSE ALL-WORLD EX-U, ALPHABET INC-CL A, QUALCOMM INC.
Over the last 9 quarters its long book ran on average 0.9pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+1.4%
Q2 2024
+6.1%
Q3 2024
-0.7%
Q4 2024
-1.7%
Q1 2025
+5.7%
Q2 2025
+7.4%
Q3 2025
+2.4%
Q4 2025
-1.2%
Q1 2026
+12.6%
Sector allocation
Technology 29%
Financials 12%
Consumer discretionary 12%
Healthcare 10%
Industrials 9%
Energy 8%
Services media 7%
Utilities 5%
Long book by quarter
What does Telos Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 225.1K | $57.1M | 5.5% | -0.3% |
| GOOGL ALPHABET INC-CL A | Technology | 88.7K | $25.5M | 2.4% | -15.8% |
| QCOM QUALCOMM INC | Technology | 190.8K | $24.6M | 2.4% | +0.9% |
| PEP PEPSICO INC | Consumer staples | 146.9K | $22.8M | 2.2% | +0.5% |
| MS MORGAN STANLEY | Financials | 130.9K | $21.5M | 2.1% | -1.7% |
| CVX CHEVRON CORP | Energy | 103.1K | $21.3M | 2.0% | -4.6% |
| HD HOME DEPOT INC | Consumer discretionary | 63.1K | $20.8M | 2.0% | +2.2% |
| EOG EOG RESOURCES INC | Energy | 139.2K | $20.1M | 1.9% | +1.7% |
| AMZN AMAZON.COM INC | Consumer discretionary | 95.5K | $19.9M | 1.9% | +0.8% |
| JPM JPMORGAN CHASE & CO | Financials | 65.6K | $19.3M | 1.8% | +1.4% |
| V VISA INC-CLASS A SHARES | Services media | 62.8K | $19.0M | 1.8% | +3.1% |
| PG PROCTER & GAMBLE CO/THE | Other | 112.3K | $16.2M | 1.6% | -0.9% |
| GOOG ALPHABET INC-CL C | Technology | 54.5K | $15.6M | 1.5% | -5.3% |
| NOC NORTHROP GRUMMAN CORP | Technology | 22.1K | $15.1M | 1.4% | -25.3% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 14.8K | $14.7M | 1.4% | +10.6% |
| TRV TRAVELERS COS INC/THE | Financials | 49.0K | $14.3M | 1.4% | -5.0% |
| PANW PALO ALTO NETWORKS INC | Technology | 86.0K | $13.8M | 1.3% | +8.0% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 28.6K | $13.7M | 1.3% | +2.7% |
| MSFT MICROSOFT CORP | Technology | 33.1K | $12.3M | 1.2% | +10.6% |
| MA MASTERCARD INC - A | Services media | 23.6K | $11.8M | 1.1% | -0.4% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 8.8K | $11.6M | 1.1% | -3.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 46.5K | $11.4M | 1.1% | -3.1% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 48.4K | $10.9M | 1.0% | +10.7% |
| CARR CARRIER GLOBAL CORP | Industrials | 187.8K | $10.6M | 1.0% | +1.0% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 23.2K | $10.4M | 1.0% | +3.8% |
| PSX PHILLIPS 66 | Energy | 56.8K | $10.3M | 1.0% | -1.8% |
| NFLX NETFLIX INC | Services media | 106.8K | $10.3M | 1.0% | +125.0% |
| NOW SERVICENOW INC | Technology | 96.6K | $10.1M | 1.0% | +89.6% |
| GS GOLDMAN SACHS GROUP INC | Financials | 11.5K | $9.7M | 0.9% | -1.8% |
| CSCO CISCO SYSTEMS INC | Technology | 124.0K | $9.6M | 0.9% | -0.6% |
| RSG REPUBLIC SERVICES INC | Utilities | 43.7K | $9.6M | 0.9% | +5.5% |
| NXPI NXP SEMICONDUCTORS NV | Technology | 48.2K | $9.5M | 0.9% | -5.8% |
| J JACOBS SOLUTIONS INC | Industrials | 72.3K | $9.2M | 0.9% | -5.1% |
| AMGN AMGEN INC | Healthcare | 26.0K | $9.2M | 0.9% | -3.6% |
| DHR DANAHER CORP | Technology | 47.3K | $9.0M | 0.9% | -0.7% |
| TEL TE CONNECTIVITY PLC | Consumer discretionary | 41.5K | $8.7M | 0.8% | +3.0% |
| LMT LOCKHEED MARTIN CORP | Industrials | 13.7K | $8.3M | 0.8% | -3.1% |
| NEE NEXTERA ENERGY INC | Utilities | 86.9K | $8.1M | 0.8% | -2.2% |
| RMD RESMED INC | Healthcare | 35.8K | $8.0M | 0.8% | +8.3% |
| IQV IQVIA HOLDINGS INC | Healthcare | 46.6K | $7.9M | 0.8% | +5.3% |
| AEP AMERICAN ELECTRIC POWER | Utilities | 59.5K | $7.8M | 0.7% | -2.2% |
| PNC PNC FINANCIAL SERVICES GROUP | Financials | 36.3K | $7.6M | 0.7% | +0.2% |
| APD AIR PRODUCTS & CHEMICALS INC | Materials | 25.8K | $7.5M | 0.7% | -0.4% |
| ROK ROCKWELL AUTOMATION INC | Other | 20.5K | $7.4M | 0.7% | +2.6% |
| WSM WILLIAMS-SONOMA INC | Consumer discretionary | 39.7K | $7.2M | 0.7% | -0.8% |
| DIS WALT DISNEY CO/THE | Services media | 74.5K | $7.2M | 0.7% | -5.1% |
| CBRE CBRE GROUP INC - A | Real estate | 52.7K | $7.1M | 0.7% | +9.1% |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 116.1K | $7.0M | 0.7% | +0.1% |
| SO SOUTHERN CO/THE | Utilities | 70.9K | $6.8M | 0.7% | -1.2% |
| ENB ENBRIDGE INC | Energy | 125.7K | $6.8M | 0.7% | -13.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 17, 2026 | 191 | $1.04B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 196 | $1.07B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 194 | $1.04B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 5, 2025 | 196 | $982.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 30, 2025 | 191 | $917.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 27, 2025 | 197 | $937.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 21, 2024 | 196 | $952.8M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 1, 2024 | 192 | $902.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 25, 2024 | 194 | $886.9M | canonical | SEC ↗ |
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