Salem Capital Management

Salem Capital Management as of March 31, 2012

Portfolio Holdings for Salem Capital Management

Salem Capital Management holds 74 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
CVS Caremark Corporation (CVS) 3.8 $7.6M 170k 44.80
Barrick Gold Corp (GOLD) 3.7 $7.5M 173k 43.48
Unilever (UL) 3.4 $6.8M 207k 33.05
Devon Energy Corporation (DVN) 3.3 $6.7M 94k 71.12
Johnson & Johnson (JNJ) 3.3 $6.6M 100k 65.96
Procter & Gamble Company (PG) 3.2 $6.5M 97k 67.21
Honeywell International (HON) 3.1 $6.2M 102k 61.05
General Electric Company 2.9 $5.9M 295k 20.07
Weyerhaeuser Company (WY) 2.7 $5.5M 252k 21.92
Anadarko Petroleum Corporation 2.7 $5.4M 69k 78.34
Marathon Oil Corporation (MRO) 2.7 $5.4M 171k 31.70
E.I. du Pont de Nemours & Company 2.6 $5.3M 100k 52.90
GlaxoSmithKline 2.6 $5.3M 117k 44.91
Novartis (NVS) 2.6 $5.2M 94k 55.41
Merck & Co (MRK) 2.6 $5.2M 136k 38.40
Pfizer (PFE) 2.5 $5.1M 227k 22.64
Intel Corporation (INTC) 2.5 $5.0M 180k 28.12
Microsoft Corporation (MSFT) 2.4 $4.8M 148k 32.26
Schlumberger (SLB) 2.3 $4.6M 66k 69.93
Newmont Mining Corporation (NEM) 2.3 $4.6M 90k 51.27
ConocoPhillips (COP) 2.2 $4.5M 60k 76.00
Paccar (PCAR) 2.2 $4.5M 96k 46.83
International Paper Company (IP) 2.2 $4.5M 128k 35.10
Abbott Laboratories (ABT) 2.2 $4.4M 72k 61.29
Diebold Incorporated 2.1 $4.3M 111k 38.52
Duke Energy Corporation 2.0 $4.0M 191k 21.01
Corning Incorporated (GLW) 1.9 $3.9M 281k 14.08
Walgreen Company 1.8 $3.6M 106k 33.49
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 1.7 $3.5M 56k 63.01
Analog Devices (ADI) 1.6 $3.3M 82k 40.40
Kimberly-Clark Corporation (KMB) 1.6 $3.2M 44k 73.89
Dow Chemical Company 1.5 $3.0M 88k 34.63
Talisman Energy Inc Com Stk 1.3 $2.7M 213k 12.60
Koninklijke Philips Electronics NV (PHG) 1.3 $2.6M 129k 20.35
United Technologies Corporation 1.2 $2.5M 30k 82.92
Eli Lilly & Co. (LLY) 1.2 $2.3M 58k 40.26
Halliburton Company (HAL) 1.1 $2.3M 71k 33.19
Hewlett-Packard Company 1.0 $2.1M 88k 23.83
Cisco Systems (CSCO) 1.0 $2.0M 95k 21.15
MDU Resources (MDU) 0.9 $1.8M 79k 22.39
EMC Corporation 0.8 $1.5M 51k 29.87
3M Company (MMM) 0.7 $1.4M 16k 89.24
International Business Machines (IBM) 0.7 $1.4M 6.6k 208.58
Costco Wholesale Corporation (COST) 0.7 $1.3M 15k 90.83
International Business Machines (IBM) 0.7 $1.3M 6.3k 208.64
Paychex (PAYX) 0.6 $1.2M 39k 31.00
EOG Resources (EOG) 0.6 $1.1M 10k 111.07
Exxon Mobil Corporation (XOM) 0.5 $1.1M 12k 86.73
Colgate-Palmolive Company (CL) 0.4 $873k 8.9k 97.78
Chevron Corporation (CVX) 0.4 $741k 6.9k 107.16
Home Depot (HD) 0.3 $694k 14k 50.29
National Fuel Gas (NFG) 0.3 $686k 14k 48.14
At&t (T) 0.3 $678k 22k 31.24
Louisiana Cent master (LCNTU) 0.3 $675k 225.00 3000.00
General Mills (GIS) 0.3 $640k 16k 39.48
AvalonBay Communities (AVB) 0.3 $652k 4.6k 141.40
Southern Company (SO) 0.3 $593k 13k 44.92
QEP Resources 0.3 $531k 17k 30.52
Stryker Corporation (SYK) 0.2 $485k 8.8k 55.43
Plum Creek Timber 0.2 $476k 12k 41.57
Abb (ABBNY) 0.2 $408k 20k 20.40
JPMorgan Chase & Co. (JPM) 0.2 $359k 7.8k 45.98
Union Pacific Corporation (UNP) 0.2 $358k 3.3k 107.44
Questar Corporation 0.2 $372k 19k 19.27
Medco Health Solutions 0.2 $322k 4.6k 70.37
Exxon Mobil Corporation (XOM) 0.1 $304k 3.5k 86.86
Caterpillar (CAT) 0.1 $288k 2.7k 106.67
FedEx Corporation (FDX) 0.1 $290k 3.2k 92.06
Coca-Cola Company (KO) 0.1 $238k 3.2k 74.14
Cintas Corporation (CTAS) 0.1 $244k 6.2k 39.20
Dupont Pfd $3.50 Ser A p (CTA.PA) 0.1 $246k 2.8k 87.86
SYSCO Corporation (SYY) 0.1 $228k 7.6k 29.87
Automatic Data Processing (ADP) 0.1 $210k 3.8k 55.26
General Electric Pfd equs 0.1 $203k 8.0k 25.38