Salem Capital Management

Salem Capital Management as of June 30, 2011

Portfolio Holdings for Salem Capital Management

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

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Barrick Gold Corp (GOLD) 4.0 $9.0M 199k 45.29
Marathon Oil Corporation (MRO) 3.6 $8.2M 156k 52.68
Devon Energy Corporation (DVN) 3.4 $7.8M 98k 78.81
Unilever (UL) 3.4 $7.6M 234k 32.39
CVS Caremark Corporation (CVS) 3.3 $7.4M 198k 37.58
Johnson & Johnson (JNJ) 3.2 $7.2M 109k 66.52
Honeywell International (HON) 3.1 $6.9M 116k 59.59
Procter & Gamble Company (PG) 3.0 $6.9M 108k 63.57
Schlumberger (SLB) 2.9 $6.5M 76k 86.40
Anadarko Petroleum Corporation 2.9 $6.5M 84k 76.75
Novartis (NVS) 2.8 $6.3M 104k 61.11
General Electric Company 2.7 $6.1M 323k 18.86
E.I. du Pont de Nemours & Company 2.6 $5.9M 110k 54.05
Weyerhaeuser Company (WY) 2.6 $5.9M 271k 21.86
Newmont Mining Corporation (NEM) 2.5 $5.7M 106k 53.97
GlaxoSmithKline 2.4 $5.5M 129k 42.90
Merck & Co (MRK) 2.4 $5.4M 154k 35.29
Corning Incorporated (GLW) 2.4 $5.4M 295k 18.15
ConocoPhillips (COP) 2.4 $5.3M 71k 75.18
Pfizer (PFE) 2.3 $5.1M 248k 20.60
Koninklijke Philips Electronics NV (PHG) 2.2 $4.9M 191k 25.68
Kimberly-Clark Corporation (KMB) 2.1 $4.8M 73k 66.56
Analog Devices (ADI) 2.1 $4.8M 124k 39.14
Walgreen Company 2.1 $4.7M 111k 42.46
Intel Corporation (INTC) 2.0 $4.5M 205k 22.16
Microsoft Corporation (MSFT) 2.0 $4.5M 172k 26.00
Hewlett-Packard Company 2.0 $4.5M 123k 36.40
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 1.9 $4.3M 69k 62.38
Southern Company (SO) 1.8 $4.0M 100k 40.38
Encana Corp 1.8 $4.0M 128k 30.79
Duke Energy Corporation 1.7 $3.9M 205k 18.83
Dow Chemical Company 1.5 $3.4M 95k 36.00
MDU Resources (MDU) 1.5 $3.3M 149k 22.50
United Technologies Corporation 1.5 $3.3M 38k 88.50
Best Buy (BBY) 1.4 $3.1M 100k 31.41
Eli Lilly & Co. (LLY) 1.3 $2.8M 76k 37.53
International Paper Company (IP) 1.2 $2.7M 92k 29.83
EMC Corporation 0.9 $2.1M 76k 27.56
3M Company (MMM) 0.9 $2.0M 21k 94.87
Halliburton Company (HAL) 0.7 $1.6M 32k 50.99
Cisco Systems (CSCO) 0.7 $1.5M 97k 15.61
Costco Wholesale Corporation (COST) 0.6 $1.2M 15k 81.21
Abbott Laboratories (ABT) 0.5 $1.2M 23k 52.63
Paychex (PAYX) 0.5 $1.2M 40k 30.71
International Business Machines (IBM) 0.5 $1.2M 7.2k 171.51
Exxon Mobil Corporation (XOM) 0.5 $1.1M 14k 81.41
EOG Resources (EOG) 0.5 $1.1M 11k 104.53
International Business Machines (IBM) 0.5 $1.1M 6.3k 171.62
National Fuel Gas (NFG) 0.5 $1.1M 15k 72.79
QEP Resources 0.4 $828k 20k 41.82
Colgate-Palmolive Company (CL) 0.4 $815k 9.3k 87.37
Chevron Corporation (CVX) 0.3 $721k 7.0k 102.78
At&t (T) 0.3 $698k 22k 31.39
Louisiana Cent master (LCNTU) 0.3 $653k 225.00 2902.22
AvalonBay Communities (AVB) 0.3 $625k 4.9k 128.36
General Mills (GIS) 0.3 $603k 16k 37.19
Stryker Corporation (SYK) 0.3 $587k 10k 58.70
Paccar (PCAR) 0.2 $571k 11k 51.10
Home Depot (HD) 0.2 $500k 14k 36.23
Plum Creek Timber 0.2 $489k 12k 40.58
Questar Corporation 0.2 $351k 20k 17.73
Union Pacific Corporation (UNP) 0.1 $348k 3.3k 104.44
JPMorgan Chase & Co. (JPM) 0.1 $320k 7.8k 40.98
Caterpillar (CAT) 0.1 $298k 2.8k 106.43
Exxon Mobil Corporation (XOM) 0.1 $285k 3.5k 81.43
FedEx Corporation (FDX) 0.1 $299k 3.2k 94.92
SYSCO Corporation (SYY) 0.1 $263k 8.4k 31.19
Medco Health Solutions 0.1 $259k 4.6k 56.60
Automatic Data Processing (ADP) 0.1 $242k 4.6k 52.61
Coca-Cola Company (KO) 0.1 $216k 3.2k 67.29
Baxter International (BAX) 0.1 $215k 3.6k 59.72
Medtronic 0.1 $216k 5.6k 38.57
Cintas Corporation (CTAS) 0.1 $234k 7.1k 33.07
Comcast Corp 0.1 $203k 8.0k 25.38
General Electric Pfd equs 0.1 $205k 8.0k 25.62