CIK: 0001049648
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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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.
No holding changes 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 | ✓ | Costco Wholesale Corporation | 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% | — | — |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2022-09-30 | 55 | $126.3M | 0 | |
| 2022-06-30 | 57 | $137.2M | 0 | |
| 2022-03-31 | 69 | $178.3M | 0 | |
| 2021-12-31 | 71 | $192.8M | 0 | |
| 2021-09-30 | 71 | $182.5M | 0 | |
| 2021-06-30 | 76 | $182.5M | 96 | |
| 2021-03-31 | 75 | $167.9M | 21 | |
| 2020-12-31 | 67 | $157.4M | 15 | |
| 2020-09-30 | 61 | $138.2M | 14 | |
| 2020-06-30 | 61 | $139.7M | 22 | |
| 2020-03-31 | 61 | $121.0M | 44 | |
| 2019-12-31 | 69 | $184.0M | 12 | |
| 2019-09-30 | 69 | $174.6M | 12 | |
| 2019-06-30 | 72 | $180.2M | 23 | |
| 2019-03-31 | 71 | $184.8M | 23 | |
| 2018-12-31 | 65 | $158.9M | 20 | |
| 2018-09-30 | 70 | $187.2M | 14 | |
| 2018-06-30 | 68 | $186.5M | 8 | |
| 2018-03-31 | 68 | $184.0M | 12 | |
| 2017-12-31 | 68 | $196.6M | 9 | |
| 2017-09-30 | 70 | $193.9M | 27 | |
| 2017-06-30 | 65 | $178.9M | 13 | |
| 2017-03-31 | 63 | $180.2M | 13 | |
| 2016-12-31 | 64 | $181.6M | 11 | |
| 2016-09-30 | 64 | $182.4M | 12 | |
| 2016-06-30 | 67 | $173.5M | 15 | |
| 2016-03-31 | 66 | $177.9M | 12 | |
| 2015-12-31 | 66 | $176.6M | 13 | |
| 2015-09-30 | 67 | $170.3M | 19 | |
| 2015-06-30 | 68 | $193.0M | 5 | |
| 2015-03-31 | 67 | $196.6M | 13 | |
| 2014-12-31 | 72 | $210.1M | 10 | |
| 2014-09-30 | 72 | $214.6M | 9 | |
| 2014-06-30 | 73 | $225.5M | 9 | |
| 2014-03-31 | 75 | $228.3M | 14 | |
| 2013-12-31 | 76 | $231.7M | 14 | |
| 2013-09-30 | 77 | $217.4M | 10 | |
| 2013-06-30 | 74 | $209.8M | 0 |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2022-09-30 | 2022-11-29 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-27 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-07 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-18 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-15 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-20 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-14 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-09 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-07 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-09 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-08 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-09 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-16 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-10 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-10 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-13 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-01-09 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-10-11 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-07-11 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-04-11 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-01-21 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-10-08 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-07-09 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-04-07 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-01-15 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-10-20 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-07-17 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-04-08 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-01-23 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-10-09 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-06 | 13F-HR | View on EDGAR |
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