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Institutional Investment Manager
SALEM CAPITAL MANAGEMENT INC
SALEM CAPITAL MANAGEMENT INC (CIK: 0001049648) incorporated in Massachusetts, located at 400 Unicorn Park Drive, Woburn, MA. Institutional holdings reported to the SEC.

Institutional Holdings (2014Q3)
Original 13F HR (0001049648-14-000004) filed in 2014.10.20
#
Name
Shares
Value ($)
%
Options
Notes
1 WEYERHAEUSER CO 226,532 7,217 3.36%
2 WELLS FARGO & CO NEW 4,660 242 0.11%
3 VODAFONE GROUP PLC NEW 123,135 4,050 1.89%
4 VERIZON COMMUNICATIONS INC 86,193 4,309 2.01%
5 UNITED TECHNOLOGIES CORP 36,836 3,890 1.81%
6 UNION PAC CORP 3,800 412 0.19%
7 UNILEVER PLC 178,526 7,480 3.49%
8 SYSCO CORP 6,333 240 0.11%
9 STRYKER CORP 3,950 319 0.15%
10 SOUTHERN CO 9,050 395 0.18%
11 SCHLUMBERGER LTD 56,763 5,772 2.69%
12 QUESTAR CORP COM 21,700 484 0.23%
13 QUALCOMM INC 2,980 223 0.10%
14 PROCTER AND GAMBLE CO 76,218 6,382 2.97%
15 PLUM CREEK TIMBER 25,325 988 0.46%
16 PFIZER INC 226,001 6,683 3.11%
17 PAYCHEX INC 20,449 904 0.42%
18 PACCAR INC 94,987 5,402 2.52%
19 OCCIDENTAL PETE CORP DEL 49,650 4,774 2.23%
20 Nextera Enterprises Inc. 30,000 0 0.00%
21 NOVARTIS A G 83,665 7,875 3.67%
22 NESTLE SA SPONSORED ADR REPSTG 48,237 3,552 1.66%
23 NATIONAL FUEL GAS CO N J 14,800 1,036 0.48%
24 Management Technologies Inc. 50,000 0 0.00%
25 MICROSOFT CORP 156,971 7,277 3.39%
26 MERCK & CO INC 123,079 7,296 3.40%
27 MARATHON OIL CORP 175,775 6,607 3.08%
28 LILLY ELI & CO 7,150 464 0.22%
29 LA Cent Oil&Gas Co. 225 558 0.26%
30 KONINKLIJKE PHILIPS N V 92,241 2,925 1.36%
31 KIMBERLY CLARK CORP 9,100 979 0.46%
32 JPMORGAN CHASE & CO 9,468 570 0.27%
33 JOHNSON & JOHNSON 81,400 8,676 4.04%
34 INTL PAPER CO 142,270 6,792 3.17%
35 INTERNATIONAL BUSINESS MACHS 4,874 925 0.43%
36 INTEL CORP 179,995 6,267 2.92%
37 HONEYWELL INTL INC 78,234 7,285 3.40%
38 HOME DEPOT INC 9,350 858 0.40%
39 HALLIBURTON CO 66,650 4,300 2.00%
40 GLAXOSMITHKLINE PLC 120,520 5,540 2.58%
41 GENERAL MLS INC 11,200 565 0.26%
42 GENERAL ELECTRIC CO 258,433 6,621 3.09%
43 FEDEX CORP 2,950 476 0.22%
44 EXXON MOBIL CORP 12,870 1,210 0.56%
45 EXXON MOBIL CORP 3,500 329 0.15%
46 EXPRESS SCRIPTS HLDG CO 2,922 206 0.10%
47 EOG RES INC 13,550 1,342 0.63%
48 E M C CORP MASS COM 176,860 5,175 2.41%
49 DUKE ENERGY CORP NEW 3,293 246 0.11%
50 DU PONT E I DE NEMOURS & CO 105,429 7,566 3.53%
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