Salem Capital Management

Salem Capital Management as of March 31, 2011

Portfolio Holdings for Salem Capital Management

Salem Capital Management holds 75 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Barrick Gold Corp (GOLD) 4.6 $11M 204k 51.91
Devon Energy Corporation (DVN) 4.0 $9.1M 100k 91.77
Marathon Oil Corporation (MRO) 3.6 $8.2M 154k 53.31
Anadarko Petroleum Corporation 3.1 $7.1M 87k 81.93
Unilever (UL) 3.1 $7.0M 230k 30.62
Honeywell International (HON) 3.1 $7.0M 117k 59.71
Schlumberger (SLB) 3.0 $7.0M 75k 93.26
CVS Caremark Corporation (CVS) 3.0 $6.9M 201k 34.32
Procter & Gamble Company (PG) 2.9 $6.5M 106k 61.60
Johnson & Johnson (JNJ) 2.8 $6.4M 109k 59.25
Weyerhaeuser Company (WY) 2.8 $6.3M 257k 24.60
General Electric Company 2.7 $6.2M 310k 20.05
E.I. du Pont de Nemours & Company 2.7 $6.2M 113k 54.97
Koninklijke Philips Electronics NV (PHG) 2.5 $5.7M 177k 32.17
Corning Incorporated (GLW) 2.5 $5.6M 273k 20.63
Newmont Mining Corporation (NEM) 2.5 $5.6M 102k 54.58
Novartis (NVS) 2.4 $5.5M 101k 54.35
ConocoPhillips (COP) 2.4 $5.5M 68k 79.85
Pfizer (PFE) 2.1 $4.8M 237k 20.31
Hewlett-Packard Company 2.1 $4.7M 116k 40.97
Analog Devices (ADI) 2.1 $4.7M 120k 39.38
Kimberly-Clark Corporation (KMB) 2.1 $4.7M 72k 65.27
Merck & Co (MRK) 2.0 $4.7M 141k 33.01
GlaxoSmithKline 2.0 $4.7M 121k 38.41
Microsoft Corporation (MSFT) 1.9 $4.4M 172k 25.39
Walgreen Company 1.9 $4.4M 109k 40.14
Encana Corp 1.9 $4.3M 125k 34.53
Southern Company (SO) 1.9 $4.2M 111k 38.11
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 1.8 $4.2M 72k 57.48
Intel Corporation (INTC) 1.6 $3.8M 186k 20.18
Dow Chemical Company 1.6 $3.6M 95k 37.75
MDU Resources (MDU) 1.5 $3.4M 149k 22.97
United Technologies Corporation 1.5 $3.4M 40k 84.66
Duke Energy Corporation 1.5 $3.4M 187k 18.15
Best Buy (BBY) 1.4 $3.2M 112k 28.72
International Paper Company (IP) 1.2 $2.8M 92k 30.19
Eli Lilly & Co. (LLY) 1.1 $2.6M 73k 35.17
EMC Corporation 1.0 $2.3M 86k 26.57
Berkshire Hathaway Inc. Class B 1.0 $2.2M 27k 83.64
3M Company (MMM) 0.9 $2.1M 22k 93.48
Halliburton Company (HAL) 0.7 $1.6M 32k 49.84
Cisco Systems (CSCO) 0.6 $1.3M 78k 17.15
Paychex (PAYX) 0.6 $1.2M 40k 31.39
EOG Resources (EOG) 0.6 $1.3M 11k 118.49
Exxon Mobil Corporation (XOM) 0.5 $1.2M 14k 84.15
International Business Machines (IBM) 0.5 $1.2M 7.3k 163.09
Costco Wholesale Corporation (COST) 0.5 $1.1M 15k 73.33
National Fuel Gas (NFG) 0.5 $1.1M 15k 73.99
Abbott Laboratories (ABT) 0.5 $1.0M 21k 49.04
International Business Machines (IBM) 0.5 $1.0M 6.3k 163.04
QEP Resources 0.3 $803k 20k 40.56
Chevron Corporation (CVX) 0.3 $754k 7.0k 107.48
Colgate-Palmolive Company (CL) 0.3 $753k 9.3k 80.72
Louisiana Cent master (LCNTU) 0.3 $630k 225.00 2800.00
At&t (T) 0.3 $608k 20k 30.62
Stryker Corporation (SYK) 0.3 $608k 10k 60.80
General Mills (GIS) 0.3 $593k 16k 36.58
AvalonBay Communities (AVB) 0.3 $585k 4.9k 120.15
Paccar (PCAR) 0.3 $603k 12k 52.38
Plum Creek Timber 0.2 $526k 12k 43.65
Home Depot (HD) 0.2 $511k 14k 37.03
JPMorgan Chase & Co. (JPM) 0.2 $360k 7.8k 46.11
Questar Corporation 0.1 $346k 20k 17.47
Caterpillar (CAT) 0.1 $312k 2.8k 111.43
Union Pacific Corporation (UNP) 0.1 $328k 3.3k 98.44
Exxon Mobil Corporation (XOM) 0.1 $294k 3.5k 84.00
FedEx Corporation (FDX) 0.1 $295k 3.2k 93.65
Medco Health Solutions 0.1 $257k 4.6k 56.16
SYSCO Corporation (SYY) 0.1 $234k 8.4k 27.75
Automatic Data Processing (ADP) 0.1 $236k 4.6k 51.30
Medtronic 0.1 $220k 5.6k 39.29
Coca-Cola Company (KO) 0.1 $213k 3.2k 66.36
Cintas Corporation (CTAS) 0.1 $214k 7.1k 30.25
Comcast Corp 0.1 $205k 8.0k 25.62
General Electric Pfd equs 0.1 $209k 8.0k 26.12