Salem Investment Counselors portfolio

What changed this quarter

1035 positions with a change (4 new, 98 added to, 102 trimmed, 831 sold).

No moves of 0.5 points of the portfolio or more.

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA7.8%
• AppleAAPL7.7%
• Lowe'sLOW6.4%
• AlphabetGOOG · GOOGL6.4%
• MicrosoftMSFT5.1%
• Micron TechnologyMU4.6%
• Advanced Micro DevicesAMD3.8%
• Amazon.comAMZN3.0%
• Meta PlatformsMETA2.8%
• Berkshire HathawayBRK/B · BRK/A2.3%
• Palantir TechnologiesPLTR2.3%
• Eli LillyLLY2.3%
• JPMorgan ChaseJPM2.0%
• Bank of AmericaBAC1.5%
• Astera LabsALAB1.4%
• Johnson & JohnsonJNJ1.2%
• Green Brick PartnersGRBK1.1%
• RTXRTX1.0%
• PepsicoPEP1.0%
• CaterpillarCAT1.0%
• AbbVieABBV0.9%
• WalmartWMT0.8%
• Taiwan Semiconductor ManufacturingTSM0.8%
• Marvell TechnologyMRVL0.8%
• VisaV0.8%
• Cisco SystemsCSCO0.7%
• Schwab US Large-cap ETFSCHX0.7%
• Intuitive SurgicalISRG0.7%
• Smurfit WestrockSW0.6%
• Vanguard World FundMGK0.6%
• MerckMRK0.6%
• Nu HoldingsNU0.6%
• Vanguard Index FundsVO0.6%
• State Str Spdr S&P 500 ETF TSPY0.6%
• Schwab US Mid Cap ETFSCHM0.5%
• Vanguard Most Sm-cap ETF-usd ETFVB0.5%
• Costco WholesaleCOST0.5%
• LennarLEN0.5%
• QualcommQCOM0.5%
• CrowdStrike HoldingsCRWD0.4%
• ASML HoldingASML0.4%
• Exxon MobilXOM0.4%
• EatonETN0.4%
• Procter & GamblePG0.4%
• AccentureACN0.3%
• AmgenAMGN0.3%
• EntegrisENTG0.3%
• McDONALD’SMCD0.3%
• BalchemBCPC0.3%
• BroadcomAVGO0.3%
• GE Healthcare TechnologiesGEHC0.3%
• 3mMMM0.3%
• NovartisNVS0.3%
• Kinder MorganKMI0.3%
• Thermo Fisher ScientificTMO0.3%
• UbiquitiUI0.3%
• Schwab US Small-cap ETFSCHA0.3%
• CintasCTAS0.2%
• American Electric PowerAEP0.2%
• Coca-ColaKO0.2%
• Enterprise Products PartnersEPD0.2%
• Boston ScientificBSX0.2%
• Dell TechnologiesDELL0.2%
• iShares Core S&P 500 ETFIVV0.2%
• RIO TintoRIO0.2%
• Capital One FinancialCOF0.2%
• Phillips 66PSX0.2%
• iShares Russell Mid-cap ETFIWR0.2%
• Vanguard S&P 500 ETFVOO0.2%
• Truist FinancialTFC0.2%
• HubbellHUBB0.2%
• Solstice Advanced MaterialsSOLS0.2%
• Iron MountainIRM0.2%
• Energy TransferET0.2%
• IntelINTC0.2%
• Petrobras - Petroleo BrasileiroPBR0.2%
• EnbridgeENB0.2%
• Trane TechnologiesTT0.2%
• Home DepotHD0.2%
• FedExFDX0.2%
• ChevronCVX0.2%
• NateraNTRA0.2%
• Palo Alto NetworksPANW0.2%
• Nebius GroupNBIS0.2%
• KB HomeKBH0.2%
• Mondelez InternationalMDLZ0.2%
• Goldman Sachs GroupGS0.1%
• Morgan StanleyMS0.1%
• Abbott LaboratoriesABT0.1%
• Waste ManagementWM0.1%
• Colgate-palmoliveCL0.1%
• Schwab US Broad Market ETFSCHB0.1%
• Vanguard Dividend Apprec ETFVIG0.1%
• Sonoco ProductsSON0.1%
• MercadoLibreMELI0.1%
• Nextera EnergyNEE0.1%
• SandiskSNDK0.1%
• Mettler-Toledo InternationalMTD0.1%