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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 (2016Q1)
Portfolio Summary: 66 holdings with a total value of $177,881,000.
#
Name
Shares
Value ($)
%
Options
Notes
1 Nextera Enterprises Inc. 30,000 0 0.00%
2 CATERPILLAR INC 2,700 207,000 0.12%
3 APPLE INC 2,075 226,000 0.13%
4 SYSCO CORP 5,000 234,000 0.13%
5 AUTOMATIC DATA PROCESSING IN 2,700 242,000 0.14%
6 CINTAS CORP 3,000 269,000 0.15%
7 QUESTAR CORP COM 10,900 270,000 0.15%
8 UNITED TECHNOLOGIES CORP 2,820 282,000 0.16%
9 DUKE ENERGY CORP NEW 3,602 291,000 0.16%
10 WELLS FARGO & CO NEW 6,110 295,000 0.17%
11 ANALOG DEVICES INC 5,970 353,000 0.20%
12 PAYPAL HLDGS INC 9,500 367,000 0.21%
13 LILLY ELI & CO 5,450 392,000 0.22%
14 STRYKER CORP 3,950 424,000 0.24%
15 SOUTHERN CO 8,750 453,000 0.25%
16 BARD C R INC 2,350 476,000 0.27%
17 FEDEX CORP 3,450 561,000 0.32%
18 AVALONBAY COMM 3,027 576,000 0.32%
19 NATIONAL FUEL GAS CO N J 13,400 671,000 0.38%
20 GENERAL MLS INC 10,900 691,000 0.39%
21 DOVER CORP 10,750 692,000 0.39%
22 INTERNATIONAL BUSINESS MACHS 4,874 738,000 0.41%
23 JPMORGAN CHASE & CO 15,018 889,000 0.50%
24 EOG RES INC 12,550 911,000 0.51%
25 CHEVRON CORP NEW 10,550 1,006,000 0.57%
26 AT&T INC 25,970 1,017,000 0.57%
27 COLGATE PALMOLIVE CO 15,150 1,070,000 0.60%
28 PAYCHEX INC 20,399 1,102,000 0.62%
29 HOME DEPOT INC 8,800 1,174,000 0.66%
30 BANK AMER CORP 89,691 1,213,000 0.68%
31 KIMBERLY CLARK CORP 9,050 1,217,000 0.68%
32 ANADARKO PETE CORP 27,650 1,288,000 0.72%
33 EXXON MOBIL CORP 16,085 1,345,000 0.76%
34 ABBOTT LABS 33,773 1,413,000 0.79%
35 3M Co 9,400 1,566,000 0.88%
36 ABBVIE INC 30,250 1,728,000 0.97%
37 COSTCO WHSL CORP NEW 11,595 1,827,000 1.03%
38 MARATHON OIL CORP 179,679 2,002,000 1.13%
39 KONINKLIJKE PHILIPS N V 71,139 2,031,000 1.14%
40 DEVON ENERGY CORP NEW 82,318 2,259,000 1.27%
41 WESTROCK CO 65,359 2,551,000 1.43%
42 HALLIBURTON CO 72,620 2,594,000 1.46%
43 SCHLUMBERGER LTD 46,787 3,451,000 1.94%
44 NESTLE SA SPONSORED ADR REPSTG 47,037 3,509,000 1.97%
45 CORNING INC 183,075 3,824,000 2.15%
46 VERIZON COMMUNICATIONS INC 74,844 4,048,000 2.28%
47 VODAFONE GROUP PLC NEW 130,752 4,191,000 2.36%
48 BRIGGS & STRATTON CORP 178,375 4,267,000 2.40%
49 GLAXOSMITHKLINE PLC 105,835 4,292,000 2.41%
50 PACCAR INC 88,673 4,850,000 2.73%
Page 1 of 2

Portfolio data is normalized using SEC Form 13F filings, including the Original 13F-HR (0001049648-16-000006, filed 2016.04.11).

From 2023-01-03 onward, the SEC requires values to be reported in nearest dollars. Earlier filings reported values in thousands; therefore, positions shown as $0 in older filings may represent actual values between $0–$999.