SALEM INVESTMENT COUNSELORS INC Q2 2017 Filing

Filed August 14, 2017

Portfolio Value

$862.9M

Holdings

696

Report Date

Q2 2017

Filing Type

13F-HR

All Holdings (696 positions)

#	Stock	Shares	Value	% Portfolio
1	AAPLApple Computer Corp.	344,395	$49.6M	5.75%
2	PEPPepsico, Inc.	306,906	$35.4M	4.11%
3	MSFTMicrosoft Corporation	501,695	$34.6M	4.01%
4	BRK/BBerkshire Hathaway, Inc. CL B	193,041	$32.7M	3.79%
5	BACBank of America Corp.	1,045,573	$25.4M	2.94%
6	JNJJohnson & Johnson	186,499	$24.7M	2.86%
7	MMM3M Company	106,817	$22.2M	2.58%
8	LOWLowes Companies Inc.	282,049	$21.9M	2.53%
9	GOOGAlphabet, Inc. CL C	20,611	$18.7M	2.17%
10	METAFacebook, Inc.	117,824	$17.8M	2.06%
11	UTXZUnited Technologies Corp.	141,510	$17.3M	2.00%
12	BBTUSDBB&T Corporation	345,571	$15.7M	1.82%
13	AMZNAmazon Com, Inc.	16,160	$15.6M	1.81%
14	CSCOCisco Systems, Inc.	495,506	$15.5M	1.80%
15	JPMJPMorgan Chase & CO	163,418	$14.9M	1.73%
16	GOOGLAlphabet, Inc. CL A	15,957	$14.8M	1.72%
17	WBAWalgreen's Boots Alliance, Inc.	187,754	$14.7M	1.70%
18	WMTWal-Mart Stores, Inc.	181,360	$13.7M	1.59%
19	GEGeneral Electric Company	499,969	$13.5M	1.56%
20	PGProcter & Gamble Co.	148,976	$13.0M	1.50%
21	SYU1Synovus Financial Corp.	286,879	$12.7M	1.47%
22	INTCIntel Corp	347,621	$11.7M	1.36%
23	MRKMerck & Co.	167,229	$10.7M	1.24%
24	BCPCBalchem Corp.	136,134	$10.6M	1.23%
25	PFEPfizer, Inc.	307,402	$10.3M	1.20%
26	XOMExxon Mobile Corporation	120,795	$9.8M	1.13%
27	EPDEnterprise Products Partners	328,385	$8.9M	1.03%
28	CLColgate-Palmolive Co.	119,152	$8.8M	1.02%
29	QCOMQualcomm, Inc.	147,182	$8.1M	0.94%
30	FLOFlowers Foods, Inc.	452,081	$7.8M	0.91%
31	HUNHuntsman Corporation	302,687	$7.8M	0.91%
32	SBUXStarbucks Corp.	126,352	$7.4M	0.85%
33	MCDMcDonalds Corporation	46,933	$7.2M	0.83%
34	—Calatlantic Group In	201,425	$7.1M	0.83%
35	ABBVAbbvie, Inc.	92,774	$6.7M	0.78%
36	KELKellogg Company	96,801	$6.7M	0.78%
37	GILDGilead Sciences, Inc.	92,269	$6.5M	0.76%
38	KOCoca-Cola Company	135,152	$6.1M	0.70%
39	WFCWells Fargo & Co.	108,151	$6.0M	0.69%
40	DISWalt Disney Co	55,898	$5.9M	0.69%
41	ACNAccenture PLC CL A	46,497	$5.8M	0.67%
42	SONSonoco Products	111,714	$5.7M	0.67%
43	TMToyota Auto	52,164	$5.5M	0.63%
44	BMYBristol Myers Squibb Co.	98,192	$5.5M	0.63%
45	LENLennar Corp. CL A	93,795	$5.0M	0.58%
46	WRKUSDWestrock Company	86,793	$4.9M	0.57%
47	HONHoneywell International Incorporated	34,772	$4.6M	0.54%
48	SCHWCharles Schwab Corp	103,694	$4.5M	0.52%
49	CVSCVS Caremark Corp.	54,608	$4.4M	0.51%
50	4I1Philip Morris International, Inc.	37,219	$4.4M	0.51%
51	ABTAbbott Laboratories	88,433	$4.3M	0.50%
52	LLYEli Lilly & Company	45,060	$3.7M	0.43%
53	CVXChevron Corporation	35,183	$3.7M	0.43%
54	DHID R Horton Company	106,033	$3.7M	0.42%
55	ZNGAEURZynga, Inc.	975,855	$3.6M	0.41%
56	ROPRoper Technologies	15,068	$3.5M	0.40%
57	SYYSysco Corporation	68,724	$3.5M	0.40%
58	MLMMartin Marietta MATR	14,995	$3.3M	0.39%
59	BRK-BBerkshire Hathaway, Inc. DEL CL A	13	$3.3M	0.38%
60	CATCaterpillar, Inc.	30,329	$3.3M	0.38%
61	WNCWabash National Corp.	147,200	$3.2M	0.37%
62	BSXBoston Scientific Co.	116,373	$3.2M	0.37%
63	MCKMcKesson Corporation	19,126	$3.1M	0.36%
64	DFSEURDiscover Financial Services	48,946	$3.0M	0.35%
65	UBNTEURUbiquiti Networks	55,902	$2.9M	0.34%
66	TAT&T Corp.	76,598	$2.9M	0.33%
67	MDLZMondelez International, Inc.	65,351	$2.8M	0.33%
68	JCIJohnson Controls, Inc.	63,427	$2.8M	0.32%
69	MOAltria Group, Inc.	36,607	$2.7M	0.32%
70	—Energy Transfer Partners LP	131,637	$2.7M	0.31%
71	HIWHighwoods Properties, Inc. REIT	52,263	$2.6M	0.31%
72	IBMInternational Business Machines	16,523	$2.5M	0.29%
73	—Buckeye Partners LP	39,705	$2.5M	0.29%
74	ADNTAdient PLC	38,449	$2.5M	0.29%
75	BABAAlibaba Group Holding	17,793	$2.5M	0.29%
76	DVNDevon Energy Corp.	72,430	$2.3M	0.27%
77	KRKroger Company	98,073	$2.3M	0.27%
78	HDHome Depot, Inc.	14,583	$2.2M	0.26%
79	—Oaktree Capital GP LLC	47,936	$2.2M	0.26%
80	TRPTranscanada Corporation	45,450	$2.2M	0.25%
81	FCNCAFirst Citizens Bancshares CL A	5,699	$2.1M	0.25%
82	TRVCCitigroup, Inc.	31,567	$2.1M	0.24%
83	—Triangle Capital Corp.	119,025	$2.1M	0.24%
84	BIDUNBaidu, Inc. ADR	11,700	$2.1M	0.24%
85	IBMIBM Corp	13,405	$2.1M	0.24%
86	FISFidelity National Info. Services	23,811	$2.0M	0.24%
87	MTDMettler-Toledo International, Inc.	3,400	$2.0M	0.23%
88	IRIngersoll-Rand PLC	21,737	$2.0M	0.23%
89	UNFUnifirst Corporation - Mass	14,004	$2.0M	0.23%
90	GDGeneral Dynamics Corp.	9,716	$1.9M	0.22%
91	DUKDuke Energy Corporation	22,956	$1.9M	0.22%
92	METMetlife, Inc.	34,734	$1.9M	0.22%
93	CRMSalesforce Com	21,985	$1.9M	0.22%
94	WEPMagellan Midstream Partners	25,778	$1.8M	0.21%
95	ALOTAstronova, Inc.	137,745	$1.8M	0.21%
96	—Whole Foods Market, Inc.	41,513	$1.7M	0.20%
97	KBHKB Home	69,450	$1.7M	0.19%
98	VMCVulcan Materials Company	13,109	$1.7M	0.19%
99	—Patriot Transportation Holding, Inc.	87,458	$1.6M	0.18%
100	PYPLPaypal Holdings	28,805	$1.5M	0.18%

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