"The fight for equality and justice on behalf of the LGBT community is just part of a broader fight on behalf of all Americans," he said in his address.
"If anybody out there ask you what this campaign's about, you tell them it's still about hope and change," he said.
But during his 30-minute address to gay and lesbian supporters, the president never mentioned gay marriage specifically.
"He's said what he had to say on gay marriage, he doesn't need to say it, because nothing's happened with gay marriage yet, what's happened is with Don't Ask, Don't Tell," said supporter Rich Campbell of Los Angeles.
He also mentioned his opponent, Mitt Romney, accusing him and other republicans of having no new ideas.
"They're going to say, 'Well you know what? You're still not satisfied, and it's Obama's fault,' that's the essence of their campaign, very easy to put on a bumper sticker: 'It's Obama's fault,'" he said.
The crowd of 600 paid more than $1,200 a ticket to hear the president speak. There were also remarks by talk show host Ellen Degeneres and a performance by "Glee" actor Darren Criss.
Afterward, the president's motorcade departed the Beverly Wilshire Hotel for a $25,000 a plate fundraising dinner at the home of "Glee" co-creator Ryan Murphy. Many of Mr. Obama's fans lined the streets with hopes of catching a glimpse of the commander in chief.
The president will spend the night at the Beverly Hilton Hotel before wrapping up his two-day fundraising trip to California.
President Obama has now attended a record 150 fundraising events since taking office. That compares to 70 for Bill Clinton and 86 for George W. Bush in their first terms. President Obama is expected to raise $4.6 million when he concludes his California fundraising trip with a fundraising breakfast Thursday morning in the affluent View Park neighborhood.
In the meantime, an F-16 fighter was scrambled late Wednesday to intercept a small plane that violated airspace restrictions for President Obama's visit.
The single engine Cessna was intercepted around 5 p.m. and was ordered to land at the Camarillo Airport. It did so without incident.