SALEM INVESTMENT COUNSELORS INC
Long book
$3.41B
Q1 2026
Positions
1238
Top-10 weight
45%
concentration
Last quarter
+18.3%
SPY +14.8%
Turnover
69%
of book per quarter
Strategy in plain words
auto-generated from filingsSALEM INVESTMENT COUNSELORS INC is a mechanically diversified allocator, running a $3.41B US long book across 1238 positions.
The portfolio is moderately concentrated (top 10 ≈ 45% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: LOWE'S COS INC, NVIDIA CORP, APPLE INC, MICROSOFT CORP, ALPHABET INC-CL C.
Over the last 9 quarters its long book ran on average 0.6pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.3%
Q2 2024
+8.7%
Q3 2024
+0.5%
Q4 2024
-4.3%
Q1 2025
+10.1%
Q2 2025
+11.5%
Q3 2025
+3.3%
Q4 2025
-4.6%
Q1 2026
+18.3%
Sector allocation
Technology 43%
Consumer discretionary 18%
Financials 10%
Healthcare 9%
Industrials 8%
Other 3%
Consumer staples 2%
Utilities 2%
Long book by quarter
What does SALEM INVESTMENT own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| LOW LOWE'S COS INC | Consumer discretionary | 1.4M | $329.5M | 9.7% | 0.0% |
| NVDA NVIDIA CORP | Technology | 1.4M | $242.5M | 7.1% | -2.1% |
| AAPL APPLE INC | Technology | 954.5K | $242.2M | 7.1% | -1.0% |
| MSFT MICROSOFT CORP | Technology | 391.5K | $144.9M | 4.3% | +0.5% |
| GOOG ALPHABET INC-CL C | Technology | 495.5K | $142.1M | 4.2% | -0.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 484.3K | $100.9M | 3.0% | +0.8% |
| META META PLATFORMS INC-CLASS A | Technology | 156.8K | $89.7M | 2.6% | +0.5% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 579.8K | $84.8M | 2.5% | -9.2% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 171.3K | $82.1M | 2.4% | -0.5% |
| GOOGL ALPHABET INC-CL A | Technology | 269.1K | $77.4M | 2.3% | +0.4% |
| LLY ELI LILLY & CO | Healthcare | 78.6K | $72.3M | 2.1% | -0.9% |
| JPM JPMORGAN CHASE & CO | Financials | 241.4K | $71.0M | 2.1% | +0.2% |
| MU MICRON TECHNOLOGY INC | Technology | 205.4K | $69.4M | 2.0% | -0.5% |
| BAC BANK OF AMERICA CORP | Financials | 1.1M | $55.2M | 1.6% | +0.5% |
| AMD ADVANCED MICRO DEVICES | Technology | 265.0K | $53.9M | 1.6% | +0.6% |
| PEP PEPSICO INC | Consumer staples | 284.8K | $44.2M | 1.3% | 0.0% |
| JNJ JOHNSON & JOHNSON | Healthcare | 176.7K | $43.2M | 1.3% | -0.6% |
| RTX RTX CORP | Industrials | 220.3K | $42.5M | 1.2% | +0.2% |
| WMT WALMART INC | Consumer discretionary | 333.3K | $41.5M | 1.2% | -0.5% |
| GRBK GREEN BRICK PARTNERS INC | Industrials | 641.9K | $41.4M | 1.2% | -0.5% |
| CAT CATERPILLAR INC | Industrials | 48.9K | $34.7M | 1.0% | -0.4% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 2.1M | $30.4M | 0.9% | +1.2% |
| ISRG INTUITIVE SURGICAL INC | Healthcare | 62.8K | $29.0M | 0.8% | +1.4% |
| ABBV ABBVIE INC | Healthcare | 131.9K | $28.7M | 0.8% | +0.2% |
| V VISA INC-CLASS A SHARES | Services media | 81.8K | $24.7M | 0.7% | +1.2% |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 24.6K | $24.5M | 0.7% | +2.0% |
| LEN LENNAR CORP-A | Industrials | 262.4K | $22.8M | 0.7% | +0.2% |
| SW SMURFIT WESTROCK PLC | Other | 570.6K | $22.7M | 0.7% | +3.0% |
| MRK MERCK & CO. INC. | Healthcare | 176.4K | $21.3M | 0.6% | -6.4% |
| CSCO CISCO SYSTEMS INC | Technology | 269.6K | $20.9M | 0.6% | +0.1% |
| ALAB ASTERA LABS INC | Technology | 184.9K | $20.3M | 0.6% | +1.4% |
| MCD MCDONALD'S CORP | Consumer discretionary | 52.7K | $16.4M | 0.5% | -0.3% |
| XOM EXXON MOBIL CORP | Energy | 90.6K | $15.4M | 0.5% | +0.1% |
| UI UBIQUITI INC | Technology | 19.1K | $15.1M | 0.4% | -4.4% |
| ACN ACCENTURE PLC-CL A | Services media | 76.0K | $15.1M | 0.4% | -2.8% |
| QCOM QUALCOMM INC | Technology | 114.3K | $14.7M | 0.4% | +0.8% |
| PG PROCTER & GAMBLE CO/THE | Other | 101.8K | $14.7M | 0.4% | -1.7% |
| GEHC GE HEALTHCARE TECHNOLOGY | Healthcare | 184.5K | $13.1M | 0.4% | +4.6% |
| BCPC BALCHEM CORP | Materials | 76.3K | $12.9M | 0.4% | Held |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 201.5K | $12.6M | 0.4% | +2.8% |
| TFC TRUIST FINANCIAL CORP | Financials | 272.8K | $12.5M | 0.4% | -0.6% |
| MRVL MARVELL TECHNOLOGY INC | Technology | 121.0K | $12.0M | 0.4% | +9.0% |
| ETN EATON CORP PLC | Industrials | 33.3K | $11.9M | 0.3% | +2.6% |
| KMI KINDER MORGAN INC | Utilities | 347.0K | $11.6M | 0.3% | -0.3% |
| AMGN AMGEN INC | Healthcare | 30.7K | $10.8M | 0.3% | +2.6% |
| AEP AMERICAN ELECTRIC POWER | Utilities | 81.3K | $10.7M | 0.3% | -1.4% |
| AVGO BROADCOM INC | Technology | 33.8K | $10.5M | 0.3% | +3.3% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 7.6K | $10.1M | 0.3% | +2.7% |
| MMM 3M CO | Healthcare | 68.6K | $10.0M | 0.3% | +0.2% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 42.7K | $9.7M | 0.3% | -1.8% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | Apr 29, 2026 | 1238 | $3.41B | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | Apr 13, 2026 | 1148 | $2.76B | SEC ↗ | |
| Q4 2025 | 13F-HR | Jan 12, 2026 | 391 | $3.54B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 7, 2025 | 1214 | $3.49B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ARESTATEMENT | Jul 8, 2025 | 1170 | $3.16B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 7, 2025 | 1170 | $3.16B | SEC ↗ | |
| Q1 2025 | 13F-HR | Apr 16, 2025 | 1220 | $2.87B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 13, 2025 | 1204 | $3.05B | confidential canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 15, 2024 | 1187 | $3.32B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 11, 2024 | 1165 | $3.10B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 11, 2024 | 1171 | $3.05B | canonical | SEC ↗ |
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