SALEM INVESTMENT COUNSELORS INC Q3 2017 Filing

Filed November 16, 2017

Portfolio Value

$856.3M

Holdings

555

Report Date

Q3 2017

Filing Type

13F-HR

All Holdings (555 positions)

#	Stock	Shares	Value	% Portfolio
1	AAPLApple Computer Corp.	324,548	$49.7M	5.80%
2	MSFTMicrosoft Corporation	456,752	$34.1M	3.98%
3	BRK/BBerkshire Hathaway, Inc. CL B	179,088	$33.1M	3.86%
4	PEPPepsico, Inc.	295,369	$32.4M	3.78%
5	GOOGAlphabet, Inc. CL C	28,204	$26.9M	3.14%
6	BACBank of America Corp	989,700	$25.3M	2.96%
7	JNJJohnson & Johnson	175,269	$23.0M	2.68%
8	LOWLowes Companies Inc.	278,114	$22.4M	2.62%
9	METAFacebook, Inc.	124,433	$21.1M	2.46%
10	MMM3M Company	98,471	$20.9M	2.44%
11	UTXZUnited Technologies Corp.	145,982	$17.0M	1.99%
12	AMZNAmazon Com, Inc.	17,565	$16.8M	1.96%
13	JPMJPMorgan Chase & CO	160,078	$15.4M	1.80%
14	BBTUSDBB&T Corporation	323,308	$15.2M	1.77%
15	WBAWalgreen's Boots Alliance, Inc.	194,273	$14.9M	1.75%
16	INTCIntel Corp	336,101	$13.0M	1.52%
17	WMTWal-Mart Stores, Inc.	164,271	$12.9M	1.51%
18	PGProcter & Gamble Co.	139,538	$12.9M	1.50%
19	CSCOCisco Systems, Inc.	362,036	$12.2M	1.42%
20	TRVCCitigroup, Inc.	154,309	$11.4M	1.33%
21	BCPCBalchem Corp.	136,134	$11.1M	1.29%
22	PFEPfizer, Inc.	295,677	$10.6M	1.24%
23	MRKMerck & Co.	164,098	$10.6M	1.24%
24	GOOGLAlphabet, Inc. CL A	10,920	$10.6M	1.23%
25	XOMExxon Mobile Corporation	120,484	$9.8M	1.15%
26	GEGeneral Electric Company	365,451	$9.0M	1.05%
27	ABBVAbbvie, Inc.	97,970	$8.8M	1.02%
28	HUNHuntsman Corporation	299,752	$8.3M	0.97%
29	FLOFlowers Foods, Inc.	434,906	$8.2M	0.95%
30	QCOMQualcomm, Inc.	149,692	$7.7M	0.90%
31	GILDGilead Sciences, Inc.	92,897	$7.7M	0.90%
32	EPDEnterprise Products Partners	289,438	$7.6M	0.89%
33	CLColgate-Palmolive Co.	100,495	$7.4M	0.86%
34	MCDMcDonalds Corporation	46,418	$7.3M	0.85%
35	—Calatlantic Group In	198,850	$7.3M	0.85%
36	SBUXStarbucks Corp.	126,822	$6.8M	0.80%
37	BMYBristol Myers Squibb Co.	102,510	$6.6M	0.77%
38	SYU1Synovus Financial Corp.	141,372	$6.5M	0.76%
39	TMToyota Auto	52,174	$6.2M	0.73%
40	ACNAccenture PLC CL A	45,990	$6.2M	0.72%
41	KOCoca-Cola Company	133,418	$6.0M	0.70%
42	KELKellogg Company	92,802	$5.9M	0.68%
43	SONSonoco Products	110,194	$5.6M	0.65%
44	CVSCVS Caremark Corp.	67,934	$5.5M	0.64%
45	ABTAbbott Laboratories	95,215	$5.1M	0.60%
46	WRKUSDWestrock Company	87,746	$5.1M	0.59%
47	CVXChevron Corporation	39,009	$4.6M	0.54%
48	SCHWCharles Schwab Corp	103,694	$4.6M	0.53%
49	LENLennar Corp. CL A	84,345	$4.4M	0.52%
50	HONHoneywell International Incorporated	30,447	$4.3M	0.51%
51	DISWalt Disney Co	42,491	$4.3M	0.50%
52	DHID R Horton Company	106,033	$4.2M	0.49%
53	DFSEURDiscover Financial Services	64,294	$4.2M	0.49%
54	LLYEli Lilly & Company	48,460	$4.2M	0.49%
55	BABAAlibaba Group Holding	23,618	$4.1M	0.48%
56	ADNTAdient PLC	45,693	$3.9M	0.45%
57	CATCaterpillar, Inc.	30,919	$3.9M	0.45%
58	BSXBoston Scientific Co.	125,175	$3.7M	0.43%
59	BIDUNBaidu, Inc. ADR	14,545	$3.6M	0.42%
60	SYYSysco Corporation	66,610	$3.6M	0.42%
61	BRK-BBerkshire Hathaway, Inc. DEL CL A	13	$3.6M	0.42%
62	4I1Philip Morris International, Inc.	29,749	$3.3M	0.39%
63	ZNGAEURZynga, Inc.	855,855	$3.3M	0.39%
64	ROPRoper Technologies	13,280	$3.3M	0.38%
65	JCIJohnson Controls, Inc.	79,993	$3.2M	0.38%
66	UBNTEURUbiquiti Networks	55,642	$3.2M	0.37%
67	PYPLPaypal Holdings	48,796	$3.1M	0.37%
68	EVHEvolent Health, Inc.	158,705	$2.9M	0.34%
69	MCKMcKesson Corporation	18,340	$2.9M	0.33%
70	NFLXNetflix Inc.	15,967	$2.8M	0.33%
71	MLMMartin Marietta MATR	13,363	$2.8M	0.32%
72	WNCWabash National Corp.	117,200	$2.7M	0.31%
73	TRPTranscanada Corporation	53,300	$2.6M	0.31%
74	TAT&T Corp.	66,148	$2.6M	0.30%
75	HIWHighwoods Properties, Inc. REIT	48,813	$2.6M	0.30%
76	MDLZMondelez International, Inc.	60,742	$2.5M	0.29%
77	IBMIBM Corp	16,451	$2.4M	0.28%
78	HDHome Depot, Inc.	14,545	$2.4M	0.28%
79	DVNDevon Energy Corp.	63,465	$2.3M	0.27%
80	—Energy Transfer Partners LP	126,637	$2.3M	0.27%
81	—Oaktree Capital GP LLC	48,586	$2.3M	0.27%
82	METMetlife, Inc.	42,330	$2.2M	0.26%
83	MTDMettler-Toledo International, Inc.	3,400	$2.2M	0.25%
84	FCNCAFirst Citizens Bancshares CL A	5,699	$2.1M	0.25%
85	UNFUnifirst Corporation - Mass	13,834	$2.1M	0.25%
86	DUKDuke Energy Corporation	23,093	$1.9M	0.23%
87	IRIngersoll-Rand PLC	21,725	$1.9M	0.23%
88	FLRFLUOR Corporation	44,775	$1.9M	0.22%
89	ARCCAres Cap Corp.	113,203	$1.9M	0.22%
90	GDGeneral Dynamics Corp.	8,917	$1.9M	0.22%
91	ALOTAstronova, Inc.	136,145	$1.8M	0.21%
92	WEPMagellan Midstream Partners	24,778	$1.8M	0.20%
93	MOAltria Group, Inc.	27,108	$1.7M	0.20%
94	AMLPUSDAlps Alerian MLP ETF	149,030	$1.7M	0.20%
95	KEQUKewaunee Scientific Corp.	54,625	$1.6M	0.19%
96	BHFBright House Financial	26,792	$1.6M	0.19%
97	—Triangle Capital Corp.	114,200	$1.6M	0.19%
98	NVDANvidia Corp	8,803	$1.6M	0.18%
99	ISRGIntuitive Surgical	1,470	$1.6M	0.18%
100	YUMYum Brands, Inc.	20,556	$1.5M	0.18%

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