SALEM INVESTMENT COUNSELORS INC Q1 2017 Filing

Filed May 16, 2017

Portfolio Value

$935.8M

Holdings

534

Report Date

Q1 2017

Filing Type

13F-HR

All Holdings (534 positions)

#	Stock	Shares	Value	% Portfolio
1	AAPLApple Computer Corp.	338,783	$48.6M	5.20%
2	PEPPepsico, Inc.	294,257	$32.9M	3.52%
3	MSFTMicrosoft Corporation	465,296	$30.4M	3.25%
4	BRK/BBerkshire Hathaway, Inc. CL B	179,000	$29.6M	3.17%
5	LOWLowes Companies Inc.	274,796	$22.6M	2.42%
6	BACBank of America Corp.	973,108	$22.6M	2.41%
7	JNJJohnson & Johnson	175,420	$21.8M	2.33%
8	MMM3M Company	99,597	$19.1M	2.04%
9	METAFacebook, Inc.	111,846	$15.8M	1.69%
10	WBAWalgreen's Boots Alliance, Inc.	189,574	$15.7M	1.68%
11	UTXZUnited Technologies Corp.	137,956	$15.5M	1.65%
12	GOOGAlphabet, Inc. CL C	18,398	$15.3M	1.64%
13	CSCOCisco Systems, Inc.	453,533	$15.2M	1.63%
14	GEGeneral Electric Company	507,322	$15.2M	1.62%
15	JPMJPMorgan Chase & CO	169,602	$14.7M	1.58%
16	BBTUSDBB&T Corporation	322,888	$14.3M	1.53%
17	IVVIshares Core S&P 500 ETF	59,945	$14.2M	1.51%
18	SYU1Synovus Financial Corp.	324,667	$13.3M	1.42%
19	GOOGLAlphabet, Inc. CL A	14,848	$12.6M	1.35%
20	PGProcter & Gamble Co.	138,877	$12.5M	1.33%
21	WMTWal-Mart Stores, Inc.	169,992	$12.3M	1.31%
22	INTCIntel Corp	329,225	$12.0M	1.28%
23	IWRIshares Russell Mid Cap ETF	63,760	$11.9M	1.28%
24	VOOVanguard S&P 500 ETF	53,890	$11.6M	1.24%
25	SCHMCharles Schwab US MC	246,410	$11.6M	1.24%
26	QCOMQualcomm, Inc.	200,760	$11.3M	1.21%
27	FLOFlowers Foods, Inc.	585,081	$11.3M	1.21%
28	BCPCBalchem Corp.	136,134	$11.2M	1.20%
29	AMZNAmazon Com, Inc.	12,304	$10.9M	1.17%
30	PFEPfizer, Inc.	295,298	$10.1M	1.08%
31	MRKMerck & Co.	159,469	$10.1M	1.08%
32	XOMExxon Mobile Corporation	116,586	$9.5M	1.02%
33	EPDEnterprise Products Partners	291,358	$8.0M	0.86%
34	HUNHuntsman Corporation	307,031	$7.4M	0.80%
35	SBUXStarbucks Corp.	126,800	$7.4M	0.79%
36	CLColgate-Palmolive Co.	100,033	$7.3M	0.78%
37	KELKellogg Company	93,187	$6.8M	0.72%
38	GILDGilead Sciences, Inc.	95,032	$6.5M	0.69%
39	IWMIshares Russell 2000 ETF	46,297	$6.4M	0.68%
40	DISWalt Disney Co	55,390	$6.3M	0.67%
41	ABBVAbbvie, Inc.	95,201	$6.2M	0.66%
42	ACNAccenture PLC Ireland PLC CLA	51,143	$6.1M	0.66%
43	MCDMcDonalds Corporation	46,946	$6.1M	0.65%
44	—Sonoco Products	109,264	$5.8M	0.62%
45	KOCoca-Cola Company	133,262	$5.7M	0.61%
46	TMToyota Auto	51,879	$5.6M	0.60%
47	EEMIshares MSCI Emerging Markets	142,144	$5.6M	0.60%
48	BMYBristol Myers Squibb Co.	99,985	$5.4M	0.58%
49	SPYSPDR S&P 500 ETF	22,551	$5.3M	0.57%
50	PFFIshares U.S. Preferred Stock ETF	133,568	$5.2M	0.55%
51	SCHXSCHW US LCAP ETF	90,153	$5.0M	0.54%
52	WFCWells Fargo & Co.	83,704	$4.7M	0.50%
53	—Calatlantic Group In	119,700	$4.5M	0.48%
54	CVSCVS Caremark Corp.	57,201	$4.5M	0.48%
55	WRKUSDWestrock Company	85,765	$4.4M	0.47%
56	HONHoneywell International Incorporated	35,225	$4.4M	0.47%
57	CVXChevron Corporation	39,211	$4.2M	0.45%
58	SCHWCharles Schwab Corp	103,141	$4.1M	0.44%
59	VOTVanguard Mid-Cap ETF	29,773	$4.1M	0.44%
60	ABTAbbott Laboratories	92,282	$4.1M	0.44%
61	VVVanguard Intl. Equity Index Fd.	64,440	$4.1M	0.44%
62	LENLennar Corp. CL A	77,790	$3.9M	0.42%
63	VBVanguard Small Cap ETF	29,703	$3.9M	0.42%
64	EFAIshares MSCI Eafe ETF	59,532	$3.7M	0.39%
65	SCHASCHW US SCAP ETF	57,871	$3.6M	0.39%
66	DHID R Horton Company	104,640	$3.5M	0.37%
67	SYYSysco Corporation	66,610	$3.5M	0.37%
68	4I1Philip Morris International, Inc.	29,949	$3.4M	0.36%
69	BRK-BBerkshire Hathaway, Inc. DEL CL A	13	$3.2M	0.35%
70	NKENike, Inc. CL B	57,200	$3.2M	0.34%
71	VOVanguard Mega Cap 300 Growth	32,738	$3.1M	0.33%
72	ROPRoper Technologies	15,055	$3.1M	0.33%
73	DFSEURDiscover Financial Services	44,763	$3.0M	0.32%
74	LLYEli Lilly & Company	35,800	$3.0M	0.32%
75	LVLNSPDR S&P Regional Banking	54,151	$3.0M	0.32%
76	—Buckeye Partners LP	42,105	$2.9M	0.31%
77	INNSunoco Logistics Partners LP	118,110	$2.9M	0.31%
78	MCKMcKesson Corporation	19,380	$2.9M	0.31%
79	CATCaterpillar, Inc.	30,763	$2.9M	0.30%
80	VWOVanguard Emerging Markets Vipers	71,454	$2.9M	0.30%
81	UBNTEURUbiquiti Networks	55,902	$2.8M	0.30%
82	XARSPDR S&P Aerospace Defense	41,125	$2.7M	0.29%
83	DVNDevon Energy Corp.	65,395	$2.7M	0.29%
84	TAT&T Corp.	64,694	$2.7M	0.29%
85	MLMMartin Marietta MATR	12,453	$2.7M	0.29%
86	IBMInternational Business Machines	15,098	$2.6M	0.28%
87	MDLZMondelez International, Inc.	60,956	$2.6M	0.28%
88	—Whole Foods Market, Inc.	88,023	$2.6M	0.28%
89	BSXBoston Scientific Co.	102,400	$2.5M	0.27%
90	IBMIBM Corp	14,586	$2.5M	0.27%
91	WNCWabash National Corp.	122,200	$2.5M	0.27%
92	ADNTAdient PLC	34,493	$2.5M	0.27%
93	ZNGAEURZynga, Inc.	851,375	$2.4M	0.26%
94	VGKVanguard FTSE Europe ETF	46,410	$2.4M	0.26%
95	HIWHighwoods Properties, Inc. REIT	44,463	$2.2M	0.23%
96	—Powershares ETF Fund S&P Smallcap	38,671	$2.2M	0.23%
97	—Patriot Transportation Holding, Inc.	94,174	$2.1M	0.23%
98	ALOTAstronova Inc. Com	140,945	$2.1M	0.23%
99	HDHome Depot, Inc.	14,331	$2.1M	0.22%
100	—Oaktree Capital GP LLC	46,036	$2.1M	0.22%

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