Salem Capital Management

Salem Capital Management as of Sept. 30, 2011

Portfolio Holdings for Salem Capital Management

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

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Barrick Gold Corp (GOLD) 4.7 $9.1M 195k 46.65
Unilever (UL) 3.7 $7.2M 231k 31.19
Johnson & Johnson (JNJ) 3.5 $6.9M 109k 63.69
Procter & Gamble Company (PG) 3.5 $6.8M 108k 63.18
Newmont Mining Corporation (NEM) 3.4 $6.7M 106k 62.95
CVS Caremark Corporation (CVS) 3.4 $6.6M 198k 33.59
Novartis (NVS) 3.0 $5.8M 103k 55.77
Devon Energy Corporation (DVN) 2.9 $5.6M 101k 55.44
Anadarko Petroleum Corporation 2.7 $5.3M 84k 63.05
GlaxoSmithKline 2.7 $5.3M 129k 41.29
Honeywell International (HON) 2.7 $5.2M 119k 43.91
Merck & Co (MRK) 2.6 $5.2M 158k 32.70
General Electric Company 2.5 $5.0M 328k 15.22
Kimberly-Clark Corporation (KMB) 2.5 $4.9M 69k 71.02
Schlumberger (SLB) 2.4 $4.6M 77k 59.73
Intel Corporation (INTC) 2.3 $4.5M 211k 21.33
E.I. du Pont de Nemours & Company 2.3 $4.5M 112k 39.97
Pfizer (PFE) 2.3 $4.4M 251k 17.68
ConocoPhillips (COP) 2.3 $4.4M 70k 63.32
Weyerhaeuser Company (WY) 2.2 $4.4M 281k 15.55
Abbott Laboratories (ABT) 2.2 $4.3M 84k 51.14
Microsoft Corporation (MSFT) 2.2 $4.3M 171k 24.89
Duke Energy Corporation 2.1 $4.0M 202k 19.99
Diebold Incorporated 2.0 $4.0M 144k 27.51
Corning Incorporated (GLW) 2.0 $3.9M 315k 12.36
Analog Devices (ADI) 1.9 $3.8M 122k 31.25
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 1.9 $3.8M 69k 55.16
Walgreen Company 1.9 $3.7M 111k 32.89
Koninklijke Philips Electronics NV (PHG) 1.8 $3.5M 196k 17.94
Marathon Oil Corporation (MRO) 1.8 $3.5M 161k 21.58
Eli Lilly & Co. (LLY) 1.5 $2.9M 78k 36.97
United Technologies Corporation 1.4 $2.7M 39k 70.36
Hewlett-Packard Company 1.3 $2.5M 113k 22.45
Dow Chemical Company 1.2 $2.4M 106k 22.46
MDU Resources (MDU) 1.2 $2.4M 123k 19.19
Halliburton Company (HAL) 1.1 $2.2M 73k 30.52
International Paper Company (IP) 1.1 $2.2M 95k 23.25
Marathon Petroleum Corp (MPC) 0.9 $1.8M 67k 27.06
Encana Corp 0.9 $1.8M 94k 19.21
Best Buy (BBY) 0.9 $1.8M 75k 23.30
3M Company (MMM) 0.8 $1.6M 22k 71.78
EMC Corporation 0.8 $1.6M 76k 20.98
Cisco Systems (CSCO) 0.8 $1.5M 95k 15.50
Costco Wholesale Corporation (COST) 0.6 $1.2M 15k 82.15
International Business Machines (IBM) 0.6 $1.3M 7.2k 174.86
International Business Machines (IBM) 0.6 $1.1M 6.3k 174.80
Paychex (PAYX) 0.5 $1.0M 40k 26.36
Exxon Mobil Corporation (XOM) 0.5 $954k 13k 72.66
Colgate-Palmolive Company (CL) 0.4 $827k 9.3k 88.66
EOG Resources (EOG) 0.4 $749k 11k 71.00
National Fuel Gas (NFG) 0.4 $723k 15k 48.69
Southern Company (SO) 0.3 $678k 16k 42.38
Chevron Corporation (CVX) 0.3 $640k 6.9k 92.55
At&t (T) 0.3 $634k 22k 28.51
General Mills (GIS) 0.3 $624k 16k 38.49
Louisiana Cent master (LCNTU) 0.3 $585k 225.00 2600.00
AvalonBay Communities (AVB) 0.3 $555k 4.9k 113.99
QEP Resources 0.3 $506k 19k 27.06
Stryker Corporation (SYK) 0.2 $471k 10k 47.10
Home Depot (HD) 0.2 $454k 14k 32.90
Plum Creek Timber 0.2 $418k 12k 34.69
Paccar (PCAR) 0.2 $378k 11k 33.83
Questar Corporation 0.2 $351k 20k 17.73
Union Pacific Corporation (UNP) 0.1 $272k 3.3k 81.63
Exxon Mobil Corporation (XOM) 0.1 $254k 3.5k 72.57
JPMorgan Chase & Co. (JPM) 0.1 $235k 7.8k 30.10
Caterpillar (CAT) 0.1 $207k 2.8k 73.93
Coca-Cola Company (KO) 0.1 $217k 3.2k 67.60
FedEx Corporation (FDX) 0.1 $213k 3.2k 67.62
Medco Health Solutions 0.1 $215k 4.6k 46.98
SYSCO Corporation (SYY) 0.1 $218k 8.4k 25.85
Automatic Data Processing (ADP) 0.1 $217k 4.6k 47.17
Baxter International (BAX) 0.1 $202k 3.6k 56.11
Comcast Corp 0.1 $205k 8.0k 25.62
General Electric Pfd equs 0.1 $205k 8.0k 25.62