Dark
Light
System
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 (2016Q3)
Original 13F HR (0001049648-16-000008) filed in 2016.10.11
#
Name
Shares
Value ($)
%
Options
Notes
1 JOHNSON & JOHNSON 70,965 8,383 4.60%
2 WEYERHAEUSER CO 257,632 8,229 4.51%
3 MICROSOFT CORP 138,934 8,003 4.39%
4 HONEYWELL INTL INC 66,533 7,757 4.25%
5 MERCK & CO INC 117,534 7,335 4.02%
6 UNILEVER PLC 152,816 7,243 3.97%
7 PFIZER INC 204,949 6,942 3.81%
8 GENERAL ELECTRIC CO 230,145 6,817 3.74%
9 CVS HEALTH CORP 76,230 6,784 3.72%
10 INTL PAPER CO 139,805 6,708 3.68%
11 CISCO SYS INC 197,725 6,272 3.44%
12 INTEL CORP 163,029 6,154 3.37%
13 DOW CHEM CO 113,600 5,888 3.23%
14 PROCTER AND GAMBLE CO 64,982 5,832 3.20%
15 PACCAR INC 88,123 5,180 2.84%
16 BANK AMER CORP 313,091 4,900 2.69%
17 CORNING INC 199,025 4,707 2.58%
18 WILLIAMS SONOMA INC COM 84,550 4,319 2.37%
19 VODAFONE GROUP PLC NEW 141,837 4,135 2.27%
20 VERIZON COMMUNICATIONS INC 79,081 4,111 2.25%
21 DEVON ENERGY CORP NEW 84,268 3,717 2.04%
22 SCHLUMBERGER LTD 46,899 3,688 2.02%
23 BRIGGS & STRATTON CORP 197,475 3,683 2.02%
24 WESTROCK CO 75,334 3,652 2.00%
25 NESTLE SA SPONSORED ADR REPSTG 45,262 3,577 1.96%
26 HALLIBURTON 71,150 3,193 1.75%
27 MARATHON OIL CORP 174,304 2,756 1.51%
28 DU PONT E I DE NEMOURS & CO 39,480 2,644 1.45%
29 KONINKLIJKE PHILIPS N V 80,416 2,380 1.30%
30 ANADARKO PETR 27,650 1,752 0.96%
31 COSTCO WHSL CORP NEW 11,145 1,700 0.93%
32 3M Co 8,500 1,498 0.82%
33 ABBOTT LABS 33,149 1,402 0.77%
34 EXXON MOBIL CORP 15,285 1,334 0.73%
35 EOG RES INC 12,550 1,214 0.67%
36 JPMORGAN CHASE & CO 18,218 1,213 0.67%
37 NOVARTIS A G 15,020 1,186 0.65%
38 PAYCHEX INC 20,149 1,166 0.64%
39 HOME DEPOT INC 8,700 1,120 0.61%
40 COLGATE PALMOLIVE CO 14,950 1,108 0.61%
41 CHEVRON CORP NEW 10,550 1,086 0.60%
42 KIMBERLY CLARK CORP 8,250 1,041 0.57%
43 AT&T INC 24,970 1,014 0.56%
44 ABBVIE INC 15,150 956 0.52%
45 DOVER CORP 10,750 792 0.43%
46 NATIONAL FUEL GAS CO N J 12,650 684 0.38%
47 INTERNATIONAL BUSINESS MACHS 4,132 656 0.36%
48 PAYPAL HLDGS INC 14,575 597 0.33%
49 FEDEX CORP 3,400 594 0.33%
50 AVALONBAY COMM 3,027 538 0.29%
Page 1 of 2