SALEM CAPITAL MANAGEMENT INC

PrivateCIK: 1049648

Location

WOBURN, MA

Positions

$126.3K

Total AUM (reported)

2.61M

Total Shares

Allocation by class

COM$126.3K100.0%

Portfolio Concentration

Top 3$22.0K17.4%

4–10$36.3K28.7%

11–25$46.5K36.8%

Rest$21.6K17.1%

Top 3 weight

17.4%

Top 10 weight

46.1%

Voting Authority Distribution

Total shares with voting rights: 2.61M

Sole

Full voting authority

100.61K

% of voting shares3.9%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

2.51M

% of voting shares96.1%

Investment Discretion (by position count)

Sole55

Shared0

Other0

Dominant voting typeNone · 96.1% of voting shares

Institutional Holdings55

Rows:

Microsoft

SOLE

COM

Shares38.06K

TypeSH

Market value$8.9K

7.02%

Sole

4.67K

Shared

0.00

None

33.39K

Merck & Co.

SOLE

COM

Shares81.74K

TypeSH

Market value$7.0K

5.57%

Sole

3.50K

Shared

0.00

None

78.24K

Pfizer Inc.

SOLE

COM

Shares138.27K

TypeSH

Market value$6.1K

4.79%

Sole

10.50K

Shared

0.00

None

127.77K

Bank of America Corp.

SOLE

COM

Shares197.54K

TypeSH

Market value$6.0K

4.72%

Sole

Shared

0.00

None

189.54K

Honeywell Int'l

SOLE

COM

Shares33.48K

TypeSH

Market value$5.6K

4.43%

Sole

3.15K

Shared

0.00

None

30.33K

Weyerhaeuser Co.

SOLE

COM

Shares186.32K

TypeSH

Market value$5.3K

4.21%

Sole

6.20K

Shared

0.00

None

180.12K

Cisco Systems

SOLE

COM

Shares131.29K

TypeSH

Market value$5.3K

4.16%

Sole

6.70K

Shared

0.00

None

124.59K

Pioneer Natural Resources

SOLE

COM

Shares22.35K

TypeSH

Market value$4.8K

3.83%

Sole

100.00

Shared

0.00

None

22.25K

Devon Energy

SOLE

COM

Shares79.89K

TypeSH

Market value$4.8K

3.80%

Sole

0.00

Shared

0.00

None

79.89K

Corning

SOLE

COM

Shares154.50K

TypeSH

Market value$4.5K

3.55%

Sole

4.85K

Shared

0.00

None

149.65K

Lowe's Companies, Inc.

SOLE

COM

Shares22.52K

TypeSH

Market value$4.2K

3.35%

Sole

1.20K

Shared

0.00

None

21.32K

Chevron Corp.

SOLE

COM

Shares27.90K

TypeSH

Market value$4.0K

3.17%

Sole

350.00

Shared

0.00

None

27.55K

Paccar Inc.

SOLE

COM

Shares42.69K

TypeSH

Market value$3.6K

2.83%

Sole

Shared

0.00

None

39.69K

Johnson & Johnson

SOLE

COM

Shares20.83K

TypeSH

Market value$3.4K

2.69%

Sole

1.70K

Shared

0.00

None

19.13K

International Paper

SOLE

COM

Shares107.26K

TypeSH

Market value$3.4K

2.69%

Sole

3.40K

Shared

0.00

None

103.86K

Freeport-McMoRan, Inc.

SOLE

COM

Shares119.60K

TypeSH

Market value$3.3K

2.59%

Sole

4.40K

Shared

0.00

None

115.20K

Borg Warner Inc.

SOLE

COM

Shares102.90K

TypeSH

Market value$3.2K

2.56%

Sole

2.20K

Shared

0.00

None

100.70K

Verizon Communications

SOLE

COM

Shares79.42K

TypeSH

Market value$3.0K

2.39%

Sole

350.00

Shared

0.00

None

79.06K

JP Morgan Chase & Co.

SOLE

COM

Shares28.15K

TypeSH

Market value$2.9K

2.33%

Sole

1.50K

Shared

0.00

None

26.65K

Truist Fin'l Corp.

SOLE

COM

Shares65.71K

TypeSH

Market value$2.9K

2.26%

Sole

0.00

Shared

0.00

None

65.71K

Westrock Company

SOLE

COM

Shares91.27K

TypeSH

Market value$2.8K

2.23%

Sole

3.40K

Shared

0.00

None

87.87K

Schlumberger, Ltd.

SOLE

COM

Shares73.05K

TypeSH

Market value$2.6K

2.08%

Sole

2.70K

Shared

0.00

None

70.35K

Costco Wholesale Corp.

SOLE

COM

Shares5.11K

TypeSH

Market value$2.4K

1.91%

Sole

1.63K

Shared

0.00

None

3.49K

Eaton Corp. PLC

SOLE

COM

Shares17.77K

TypeSH

Market value$2.4K

1.88%

Sole

0.00

Shared

0.00

None

17.77K

Raytheon Technologies Corp.

SOLE

COM

Shares28.54K

TypeSH

Market value$2.3K

1.85%

Sole

1.50K

Shared

0.00

None

27.04K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
MicrosoftSOLE	COM	38.06K	SH	$8.9K 7.02%	4.67K	33.39K
Merck & Co.SOLE	COM	81.74K	SH	$7.0K 5.57%	3.50K	78.24K
Pfizer Inc.SOLE	COM	138.27K	SH	$6.1K 4.79%	10.50K	127.77K
Bank of America Corp.SOLE	COM	197.54K	SH	$6.0K 4.72%	8K	189.54K
Honeywell Int'lSOLE	COM	33.48K	SH	$5.6K 4.43%	3.15K	30.33K
Weyerhaeuser Co.SOLE	COM	186.32K	SH	$5.3K 4.21%	6.20K	180.12K
Cisco SystemsSOLE	COM	131.29K	SH	$5.3K 4.16%	6.70K	124.59K
Pioneer Natural ResourcesSOLE	COM	22.35K	SH	$4.8K 3.83%	100.00	22.25K
Devon EnergySOLE	COM	79.89K	SH	$4.8K 3.80%	0.00	79.89K
CorningSOLE	COM	154.50K	SH	$4.5K 3.55%	4.85K	149.65K
Lowe's Companies, Inc.SOLE	COM	22.52K	SH	$4.2K 3.35%	1.20K	21.32K
Chevron Corp.SOLE	COM	27.90K	SH	$4.0K 3.17%	350.00	27.55K
Paccar Inc.SOLE	COM	42.69K	SH	$3.6K 2.83%	3K	39.69K
Johnson & JohnsonSOLE	COM	20.83K	SH	$3.4K 2.69%	1.70K	19.13K
International PaperSOLE	COM	107.26K	SH	$3.4K 2.69%	3.40K	103.86K
Freeport-McMoRan, Inc.SOLE	COM	119.60K	SH	$3.3K 2.59%	4.40K	115.20K
Borg Warner Inc.SOLE	COM	102.90K	SH	$3.2K 2.56%	2.20K	100.70K
Verizon CommunicationsSOLE	COM	79.42K	SH	$3.0K 2.39%	350.00	79.06K
JP Morgan Chase & Co.SOLE	COM	28.15K	SH	$2.9K 2.33%	1.50K	26.65K
Truist Fin'l Corp.SOLE	COM	65.71K	SH	$2.9K 2.26%	0.00	65.71K
Westrock CompanySOLE	COM	91.27K	SH	$2.8K 2.23%	3.40K	87.87K
Schlumberger, Ltd.SOLE	COM	73.05K	SH	$2.6K 2.08%	2.70K	70.35K
Costco Wholesale Corp.SOLE	COM	5.11K	SH	$2.4K 1.91%	1.63K	3.49K
Eaton Corp. PLCSOLE	COM	17.77K	SH	$2.4K 1.88%	0.00	17.77K
Raytheon Technologies Corp.SOLE	COM	28.54K	SH	$2.3K 1.85%	1.50K	27.04K

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