SALEM CAPITAL MANAGEMENT INC
Filing Date
Global Rank
#3,935
/ 6,687
▼ 80
Top Industry
Drug Manufacturers - General
17.1%
3Y Alpha vs SPY
-1.7%
Period ended 3 years ago
Filed Nov 29, 2022 · 3y
11 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+69.4%
SPY
+76.3%
Annualised alpha
-1.6%
Max drawdown
−16.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
50 positions · as of Sep 30, 2022 · Δ vs Jun 30, 2022Top Position
8.0%
−0.2 pts
Top 5
30.0%
−0.7 pts
Top 10
51.6%
+0.3 pts
HHI
383
Diversified−3
Portfolio Trend
11 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2022| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 22.2% | $24,577,587 |
| Healthcare | 19.1% | $21,191,116 |
| Energy | 12.3% | $13,602,147 |
| Financial Services | 11.9% | $13,186,270 |
| Consumer Cyclical | 10.4% | $11,529,990 |
| Industrials | 9.3% | $10,308,118 |
| Real Estate | 5.1% | $5,673,752 |
| Consumer Defensive | 3.9% | $4,283,009 |
| Basic Materials | 2.9% | $3,268,640 |
| Communication Services | 2.7% | $3,015,387 |
| Utilities | 0.3% | $313,640 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
10 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SLB | Slb Limited/Nv | +66,050 | 73,049 | $2,622,459 | |
| NOK | Nokia Corp | +45,900 | 531,484 | $2,269,436 | |
| FCX | Freeport-Mcmoran Inc | +2,450 | 119,599 | $3,268,640 | |
| CVX | Chevron Corp | +300 | 27,902 | $4,008,680 | |
| PYPL | PayPal Holdings, Inc. | +300 | 8,625 | $742,353 | |
| VZ | Verizon Communications Inc | +209 | 79,415 | $3,015,387 | |
| KO | Coca Cola Co | +159 | 4,359 | $244,191 | |
| MRK | Merck & Co., Inc. | +134 | 81,739 | $7,039,362 | |
| JPM | Jpmorgan Chase & Co | +100 | 28,153 | $2,941,988 | |
| ADP | Automatic Data Processing Inc | +93 | 2,393 | $541,272 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
7 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| TFC | Truist Financial Corp | −350 | 65,708 | $2,860,926 | |
| MSFT | Microsoft Corp | −341 | 38,061 | $8,864,406 | |
| NVS | Novartis AG | −200 | 16,377 | $1,244,815 | |
| AAPL | Apple Inc. | −200 | 7,260 | $1,003,332 | |
| HON | Honeywell International Inc | −100 | 33,483 | $5,269,233 | |
| LOW | Lowes Companies Inc | −100 | 22,524 | $4,230,232 | |
| COST | Costco Wholesale Corp /New | −15 | 5,111 | $2,413,771 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
50 positions ·
$110,949,656 total
· as of Sep 30, 2022
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MSFT |
Microsoft Corp
Technology
|
Reduced | 38,061 | $8,864,406 | 7.99% | |
| MRK |
Merck & Co., Inc.
Healthcare
|
Added | 81,739 | $7,039,362 | 6.34% | |
| PFE |
Pfizer Inc
Healthcare
|
Held | 138,274 | $6,050,870 | 5.45% | |
| BAC |
Bank Of America Corp /De/
Financial Services
|
Held | 197,540 | $5,965,708 | 5.38% | |
| WY |
Weyerhaeuser Co
Real Estate
|
Held | 186,317 | $5,321,213 | 4.80% | |
| HON |
Honeywell International Inc
Industrials
|
Reduced | 33,483 | $5,269,233 | 4.75% | |
| CSCO |
Cisco Systems, Inc.
Technology
|
Held | 131,290 | $5,251,600 | 4.73% | |
| DVN |
Devon Energy Corp/De
Energy
|
Held | 79,887 | $4,803,605 | 4.33% | |
| GLW |
Corning Inc /Ny
Technology
|
Held | 154,499 | $4,483,560 | 4.04% | |
| LOW |
Lowes Companies Inc
Consumer Cyclical
|
Reduced | 22,524 | $4,230,232 | 3.81% | |
| CVX |
Chevron Corp
Energy
|
Added | 27,902 | $4,008,680 | 3.61% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Held | 20,826 | $3,402,135 | 3.07% | |
| IP |
International Paper Co /New/
Consumer Cyclical
|
Held | 107,258 | $3,400,078 | 3.06% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Added | 119,599 | $3,268,640 | 2.95% | |
| VZ |
Verizon Communications Inc
Communication Services
|
Added | 79,415 | $3,015,387 | 2.72% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Added | 28,153 | $2,941,988 | 2.65% | |
| TFC |
Truist Financial Corp
Financial Services
|
Reduced | 65,708 | $2,860,926 | 2.58% | |
| BWA |
Borgwarner Inc
Consumer Cyclical
|
Held | 102,899 | $2,844,210 | 2.56% | |
| SLB |
Slb Limited/Nv
Energy
|
Added | 73,049 | $2,622,459 | 2.36% | |
| COST |
Costco Wholesale Corp /New
Consumer Defensive
|
Reduced | 5,111 | $2,413,771 | 2.18% | |
| PCAR |
Paccar Inc
Industrials
|
Held | 42,690 | $2,381,815 | 2.15% | |
| RTX |
RTX Corp
Industrials
|
Held | 28,542 | $2,336,448 | 2.11% | |
| NOK |
Nokia Corp
Technology
|
Added | 531,484 | $2,269,436 | 2.05% | |
| ABT |
Abbott Laboratories
Healthcare
|
Held | 16,096 | $1,557,448 | 1.40% | |
| PAYX |
Paychex Inc
Technology
|
Held | 12,845 | $1,441,337 | 1.30% | |
| EOG |
Eog Resources Inc
Energy
|
Held | 11,450 | $1,279,308 | 1.15% | |
| NVS |
Novartis AG
Healthcare
|
Reduced | 16,377 | $1,244,815 | 1.12% | |
| HD |
Home Depot, Inc.
Consumer Cyclical
|
Held | 3,825 | $1,055,470 | 0.95% | |
| AAPL |
Apple Inc.
Technology
|
Reduced | 7,260 | $1,003,332 | 0.90% | |
| LLY |
ELI LILLY & Co
Healthcare
|
Held | 2,897 | $936,744 | 0.84% | |
| PYPL |
PayPal Holdings, Inc.
Financial Services
|
Added | 8,625 | $742,353 | 0.67% | |
| ADI |
Analog Devices Inc
Technology
|
Held | 4,619 | $643,611 | 0.58% | |
| PG |
PROCTER & GAMBLE Co
Consumer Defensive
|
Held | 4,430 | $559,287 | 0.50% | |
| ADP |
Automatic Data Processing Inc
Technology
|
Added | 2,393 | $541,272 | 0.49% | |
| CL |
Colgate Palmolive Co
Consumer Defensive
|
Held | 7,233 | $508,118 | 0.46% | |
| NFG |
National Fuel Gas Co
Energy
|
Held | 7,778 | $478,735 | 0.43% | |
| CVS |
CVS HEALTH Corp
Healthcare
|
Held | 4,805 | $458,252 | 0.41% | |
| PNC |
Pnc Financial Services Group, Inc.
Financial Services
|
Held | 3,050 | $455,731 | 0.41% | |
| COP |
Conocophillips
Energy
|
Held | 4,000 | $409,360 | 0.37% | |
| AVB |
Avalonbay Communities Inc
Real Estate
|
Held | 1,914 | $352,539 | 0.32% | |
| KMB |
Kimberly Clark Corp
Consumer Defensive
|
Held | 3,049 | $343,134 | 0.31% | |
| NEE |
Nextera Energy Inc
Utilities
|
Held | 4,000 | $313,640 | 0.28% | |
| FDX |
Fedex Corp
Industrials
|
Held | 1,800 | $267,246 | 0.24% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Held | 1,900 | $254,999 | 0.23% | |
| SYK |
Stryker Corp
Healthcare
|
Held | 1,217 | $246,491 | 0.22% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Added | 4,359 | $244,191 | 0.22% | |
| BNY |
Bank of New York Mellon Corp
Financial Services
|
Held | 5,700 | $219,564 | 0.20% | |
| GIS |
General Mills Inc
Consumer Defensive
|
Held | 2,800 | $214,508 | 0.19% | |
| AVGO |
Broadcom Inc.
Technology
|
Held | 1,780 | $79,033 | 0.07% | |
| CTAS |
Cintas Corp
Industrials
|
Held | 550 | $53,376 | 0.05% |