SC
Salem Capital Management Inc Historical SEC 13F Holdings & Archive (Q3 2022)
Salem Capital Management IncCIK: 0001049648
Diversified strategyQuality / disciplined sizingLong-term holder
Total reported value
$126.3M
Reporting period: 2022-09-30 · Number of holdings: 55
SALEM CAPITAL MANAGEMENT INC disclosed 55 holdings in its latest 13F filing for the period ending 2022-09-30, with total reported value of $126.3M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 13.22
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 50.25
- Diversification
- 100
- Sizing Uniformity
- 90.87
Salem Capital Management Inc's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, well below its 55 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.91), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 58% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNo holding changes this quarter
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 7.02% | — | -0.89% | |
| 2 | MRK | Merck & Co. Inc. | Stock-Healthcare | 5.57% | — | +0.16% | |
| 3 | PFE | Pfizer Inc | Stock-Healthcare | 4.79% | — | — | |
| 4 | BAC | Bank Of America CORP | Stock-Financials | 4.72% | — | — | |
| 5 | HON | Honeywell International Inc | Stock-Industrials | 4.43% | — | -0.30% | |
| 6 | WY | Weyerhaeuser Co | Stock-Real Estate | 4.21% | — | — | |
| 7 | CSCO | Cisco Systems Inc | Stock-Tech | 4.16% | — | — | |
| 8 | PXDEUR | Pioneer Natural Resources Co | Stock-Other | 3.83% | — | -0.67% | |
| 9 | DVN | Devon Energy CORP | Stock-Energy | 3.80% | — | — | |
| 10 | GLW | Corning Inc | Stock-Tech | 3.55% | — | — | |
| 11 | LOW | Lowe's Cos Inc | Stock-Consumer Disc | 3.35% | — | -0.44% | |
| 12 | CVX | Chevron CORP | Stock-Energy | 3.17% | — | +1.09% | |
| 13 | PCAR | Paccar Inc | Stock-Industrials | 2.83% | — | — | |
| 14 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.69% | — | — | |
| 15 | IP | International Paper Co | Stock-Consumer Disc | 2.69% | — | — | |
| 16 | FCX | Freeport-mcmoran Inc | Stock-Materials | 2.59% | — | +2.09% | |
| 17 | BWA | Borgwarner Inc | Stock-Consumer Disc | 2.56% | — | — | |
| 18 | VZ | Verizon Communications Inc | Stock-Comm Services | 2.39% | — | +0.26% | |
| 19 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.33% | — | +0.36% | |
| 20 | TFC | Truist Financial CORP | Stock-Financials | 2.26% | — | -0.53% | |
| 21 | ✓ | Westrock Co Com Shs | Stock-Other | 2.23% | — | -1.08% | |
| 22 | SLB | Slb LTD | Stock-Energy | 2.08% | — | +943.71% | |
| 23 | ✓ | Stock-Other | 1.91% | — | -0.29% | ||
| 24 | ✓ | Eaton Corp | Stock-Other | 1.88% | — | +0.51% | |
| 25 | RTX | Rtx CORP | Stock-Industrials | 1.85% | — | — | |
| 26 | NOK | Nokia Corp-spon Adr | Stock-Tech | 1.80% | — | +9.45% | |
| 27 | APTV | Aptiv PLC | Stock-Consumer Disc | 1.71% | — | +0.82% | |
| 28 | ABT | Abbott Laboratories | Stock-Healthcare | 1.23% | — | — | |
| 29 | PAYX | Paychex Inc | Stock-Tech | 1.14% | — | — | |
| 30 | EOG | Eog Resources Inc | Stock-Energy | 1.01% | — | — | |
| 31 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 0.99% | — | -1.21% | |
| 32 | HD | Home Depot Inc | Stock-Consumer Disc | 0.84% | — | — | |
| 33 | AAPL | Apple Inc | Stock-Tech | 0.79% | — | -2.68% | |
| 34 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.74% | — | — | |
| 35 | AVGO | Broadcom Inc | Stock-Tech | 0.63% | — | — | |
| 36 | PYPL | Paypal Holdings Inc | Stock-Financials | 0.59% | — | +3.60% | |
| 37 | ADI | Analog Devices Inc | Stock-Tech | 0.51% | — | — | |
| 38 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.44% | — | — | |
| 39 | ADP | Automatic Data Processing | Stock-Tech | 0.43% | — | +4.04% | |
| 40 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.40% | — | — | |
| 41 | NFG | National Fuel Gas Co | Stock-Energy | 0.38% | — | — | |
| 42 | CVS | Cvs Health CORP | Stock-Healthcare | 0.36% | — | — | |
| 43 | PNC | Pnc Financial Services Group | Stock-Financials | 0.36% | — | — | |
| 44 | NSRGY | Nestle Sa-spons Adr | Stock-Other | 0.33% | — | — | |
| 45 | COP | Conocophillips | Stock-Energy | 0.32% | — | — | |
| 46 | AVB | Avalonbay Communities Inc | Stock-Real Estate | 0.28% | — | — | |
| 47 | KMB | Kimberly-clark CORP | Stock-Consumer Staples | 0.27% | — | — | |
| 48 | NEE | Nextera Energy Inc | Stock-Utilities | 0.25% | — | — | |
| 49 | FDX | Fedex CORP | Stock-Industrials | 0.21% | — | — | |
| 50 | ABBV | Abbvie Inc | Stock-Healthcare | 0.20% | — | — |
1–50 of 55
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2022 Q3 | 55 | $126.3M | 0 | ||
| 2022 Q2 | 57 | $137.2M | 0 | ||
| 2022 Q1 | 69 | $178.3M | 0 | ||
| 2021 Q4 | 71 | $192.8M | 0 | ||
| 2021 Q3 | 71 | $182.5M | 0 | ||
| 2021 Q2 | 76 | $182.5M | 96 | ||
| 2021 Q1 | 75 | $167.9M | 21 | ||
| 2020 Q4 | 67 | $157.4M | 15 | ||
| 2020 Q3 | 61 | $138.2M | 14 | ||
| 2020 Q2 | 61 | $139.7M | 22 | ||
| 2020 Q1 | 61 | $121.0M | 44 | ||
| 2019 Q4 | 69 | $184.0M | 12 | ||
| 2019 Q3 | 69 | $174.6M | 12 | ||
| 2019 Q2 | 72 | $180.2M | 23 | ||
| 2019 Q1 | 71 | $184.8M | 23 | ||
| 2018 Q4 | 65 | $158.9M | 20 | ||
| 2018 Q3 | 70 | $187.2M | 14 | ||
| 2018 Q2 | 68 | $186.5M | 8 | ||
| 2018 Q1 | 68 | $184.0M | 12 | ||
| 2017 Q4 | 68 | $196.6M | 9 | ||
| 2017 Q3 | 70 | $193.9M | 27 | ||
| 2017 Q2 | 65 | $178.9M | 13 | ||
| 2017 Q1 | 63 | $180.2M | 13 | ||
| 2016 Q4 | 64 | $181.6M | 11 | ||
| 2016 Q3 | 64 | $182.4M | 12 | ||
| 2016 Q2 | 67 | $173.5M | 15 | ||
| 2016 Q1 | 66 | $177.9M | 12 | ||
| 2015 Q4 | 66 | $176.6M | 13 | ||
| 2015 Q3 | 67 | $170.3M | 19 | ||
| 2015 Q2 | 68 | $193.0M | 5 | ||
| 2015 Q1 | 67 | $196.6M | 13 | ||
| 2014 Q4 | 72 | $210.1M | 10 | ||
| 2014 Q3 | 72 | $214.6M | 9 | ||
| 2014 Q2 | 73 | $225.5M | 9 | ||
| 2014 Q1 | 75 | $228.3M | 14 | ||
| 2013 Q4 | 76 | $231.7M | 14 | ||
| 2013 Q3 | 77 | $217.4M | 10 | ||
| 2013 Q2 | 74 | $209.8M | 0 |
Holding changes this quarter
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
Filing History
FAQ
What is Salem Capital Management Inc and what type of investor is it?
Salem Capital Management Inc is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2022-09-30), the firm manages a tracked equity portfolio valued at approximately $126.3M, spread across 55 disclosed positions.
What are Salem Capital Management Inc's largest equity positions?
Based on the latest 13F filing, Salem Capital Management Inc's top holdings by market value are:
1. Microsoft CORP (MSFT) — $8.9M (7.0%)
2. Merck & Co. Inc. (MRK) — $7.0M (5.6%)
3. Pfizer Inc (PFE) — $6.1M (4.8%)
4. Bank Of America CORP (BAC) — $6.0M (4.7%)
5. Honeywell International Inc (HON) — $5.6M (4.4%)
What changes did Salem Capital Management Inc make in its most recent portfolio filing?
No notable portfolio changes were recorded for Salem Capital Management Inc in the most recent quarter. Holdings appear to have remained relatively stable.
What sectors does Salem Capital Management Inc focus on?
Salem Capital Management Inc is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 26.9%
• Information Technology: 22.6%
• Financials: 13.2%
• Industrials: 11.2%
• Consumer Discretionary: 7.2%
• Energy: 6.0%
Investment Profile
Salem Capital Management Inc's portfolio is broadly diversified and long-term-holding.
It has added to its GIS position over the past two quarters (+$14.0K, now $215.0K), while trimming MSFT over the same stretch (-$4.4M, still holding $8.9M).
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