INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Telos Capital Management, Inc.'s Holding History (CIK: 0001567889)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 8,100 Value ($000) $2,399 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 8,223 Value ($000) $2,320 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 7,794 Value ($000) $2,298 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 7,846 Value ($000) $1,951 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 6,280 Value ($000) $1,381 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 3,633 Value ($000) $803 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 3,447 Value ($000) $596 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 3,484 Value ($000) $665 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 3,512 Value ($000) $574 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 3,683 Value ($000) $517 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 3,705 Value ($000) $496 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 4,078 Value ($000) $535 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 4,379 Value ($000) $617 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 4,814 Value ($000) $572 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 5,264 Value ($000) $743 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 4,978 Value ($000) $647 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 5,102 Value ($000) $682 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 4,521 Value ($000) $628 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 4,602 Value ($000) $675 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 4,598 Value ($000) $613 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 4,620 Value ($000) $582 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 3,739 Value ($000) $455 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 3,868 Value ($000) $467 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 4,457 Value ($000) $494 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 4,273 Value ($000) $573 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 4,291 Value ($000) $624 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 4,243 Value ($000) $585 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 4,243 Value ($000) $599 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 4,027 Value ($000) $458 Avg Close $87.95 Range $74.66 - $107.42

Q3 2018

Shares 3,826 Value ($000) $578 Avg Close $101.25 Range $95.14 - $106.71

Q2 2018

Shares 3,846 Value ($000) $537 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 3,724 Value ($000) $572 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 3,783 Value ($000) $581 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 3,934 Value ($000) $571 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 3,961 Value ($000) $610 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 3,961 Value ($000) $690 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 3,990 Value ($000) $662 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 4,258 Value ($000) $676 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 3,639 Value ($000) $552 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 4,327 Value ($000) $655 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 17,416 Value ($000) $2,396 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 18,316 Value ($000) $2,656 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 17,369 Value ($000) $2,826 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 17,352 Value ($000) $2,785 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 5,946 Value ($000) $954 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 6,873 Value ($000) $1,305 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 6,736 Value ($000) $1,221 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 7,071 Value ($000) $1,361 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 7,468 Value ($000) $1,401 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 6,714 Value ($000) $1,244 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 7,349 Value ($000) $1,404 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	8,100	$2,399	$298.78	$262.11 - $324.90
Q3 2025	8,223	$2,320	$259.55	$232.08 - $292.01
Q2 2025	7,794	$2,298	$253.82	$210.49 - $292.56
Q1 2025	7,846	$1,951	$239.40	$209.20 - $261.47
Q4 2024	6,280	$1,381	$216.31	$196.83 - $233.32
Q3 2024	3,633	$803	$188.97	$166.24 - $216.80
Q2 2024	3,447	$596	$165.85	$154.39 - $183.50
Q1 2024	3,484	$665	$172.56	$148.54 - $189.10
Q4 2023	3,512	$574	$141.50	$126.39 - $156.49
Q3 2023	3,683	$517	$131.75	$120.98 - $141.33
Q2 2023	3,705	$496	$118.05	$110.47 - $128.27
Q1 2023	4,078	$535	$120.73	$110.43 - $131.92
Q4 2022	4,379	$617	$123.05	$102.35 - $137.32
Q3 2022	4,814	$572	$115.64	$105.06 - $124.09
Q2 2022	5,264	$743	$117.50	$107.95 - $126.60
Q1 2022	4,978	$647	$112.10	$102.68 - $121.43
Q4 2021	5,102	$682	$106.49	$97.83 - $117.62
Q3 2021	4,521	$628	$112.12	$106.97 - $117.48
Q2 2021	4,602	$675	$113.44	$102.70 - $121.73
Q1 2021	4,598	$613	$98.07	$91.22 - $107.97
Q4 2020	4,620	$582	$93.41	$81.15 - $103.82
Q3 2020	3,739	$455	$93.86	$87.12 - $99.96
Q2 2020	3,868	$467	$91.40	$78.00 - $102.76
Q1 2020	4,457	$494	$98.28	$67.58 - $117.24
Q4 2019	4,273	$573	$99.90	$95.55 - $107.55
Q3 2019	4,291	$624	$102.47	$94.04 - $110.34
Q2 2019	4,243	$585	$98.62	$91.51 - $103.66
Q1 2019	4,243	$599	$94.64	$78.71 - $101.33
Q4 2018	4,027	$458	$87.95	$74.66 - $107.42
Q3 2018	3,826	$578	$101.25	$95.14 - $106.71
Q2 2018	3,846	$537	$99.95	$94.63 - $110.30
Q1 2018	3,724	$572	$107.30	$98.32 - $115.38
Q4 2017	3,783	$581	$102.11	$96.94 - $108.49
Q3 2017	3,934	$571	$96.87	$92.88 - $103.07
Q2 2017	3,961	$610	$103.77	$98.95 - $115.36
Q1 2017	3,961	$690	$114.39	$107.32 - $119.58
Q4 2016	3,990	$662	$103.05	$95.06 - $110.31
Q3 2016	4,258	$676	$101.76	$95.61 - $106.13
Q2 2016	3,639	$552	$95.13	$90.08 - $99.15
Q1 2016	4,327	$655	$84.07	$73.78 - $96.70
Q4 2015	17,416	$2,396	$87.52	$82.31 - $94.87
Q3 2015	18,316	$2,656	$95.35	$87.10 - $106.76
Q2 2015	17,369	$2,826	$102.99	$96.57 - $107.49
Q1 2015	17,352	$2,785	$96.47	$90.53 - $100.82
Q4 2014	5,946	$954	$100.47	$91.12 - $114.79
Q3 2014	6,873	$1,305	$114.33	$108.62 - $117.41
Q2 2014	6,736	$1,221	$112.28	$107.17 - $118.40
Q1 2014	7,071	$1,361	$109.22	$101.79 - $116.27
Q4 2013	7,468	$1,401	$106.40	$101.46 - $111.01
Q3 2013	6,714	$1,244	$111.55	$106.48 - $117.56
Q2 2013	7,349	$1,404	$118.94	$109.29 - $125.13