Salem Investment Counselors Inc.
In its 13F for Q3 2026 (holdings as of September 30, 2026, filed October 13, 2026), Salem Investment Counselors Inc. reported 412 stock positions worth $4.0 billion. Its top holding was Nvidia (NVDA) at 7.8% of the portfolio, followed by Apple (AAPL, 7.7%) and Lowe's Cos (LOW, 6.4%). Compared with Q2 2026, it opened 7 new positions, sold out of 831, added to 140 and reduced 150. The biggest buy was Microsoft (MSFT, shares +1%) and the biggest sale Lowe's Cos (LOW, shares −0%).
- Most Recent 13F
- Q3 2026
- Location
- WINSTON SALEM, NC
- CIK
- 0000884423
- Portfolio Value
- $4.0B (Q3 2026)
- SEC Filing
- 0001420506-26-002307 ↗ filed Oct 13, 2026
Holdings Value
Holdings 412 stocks · $4.0B
| NVDA Nvidia Corp. | 7.77% | 1,364,637 | $311.9M | Reduce -0.6% |
| AAPL Apple Inc. | 7.70% | 928,683 | $309.3M | Reduce -0.5% |
| LOW Lowe's Cos Inc. | 6.41% | 1,396,230 | $257.3M | Reduce -0.0% |
| MSFT Microsoft Corp. | 5.13% | 401,376 | $205.9M | Add +0.9% |
| MU Micron Technology Inc. | 4.58% | 172,686 | $183.9M | Reduce -3.0% |
| GOOG Alphabet Inc. Class C | 4.16% | 490,715 | $167.2M | Reduce -0.6% |
| AMD Advanced Micro Devices | 3.82% | 250,568 | $153.3M | Reduce -4.3% |
| AMZN Amazon.com Inc. | 3.01% | 484,645 | $120.7M | Reduce -0.1% |
| META Meta Platforms Inc. Class A | 2.84% | 157,498 | $114.2M | Reduce -0.6% |
| PLTR Palantir Technologies Inc. Class A | 2.31% | 496,002 | $92.8M | Reduce -10.2% |
| LLY Eli Lilly & Co. | 2.27% | 78,919 | $91.3M | Reduce -0.0% |
| GOOGL Alphabet Inc. Class A | 2.20% | 257,002 | $88.4M | Reduce -3.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.14% | 172,196 | $85.7M | Reduce -0.6% |
| JPM JPMorgan Chase & Co. | 2.00% | 242,612 | $80.3M | Add +0.1% |
| BAC Bank of America Corp. | 1.54% | 1,135,914 | $61.8M | Add +1.2% |
| ALAB Astera Labs Inc. | 1.37% | 154,723 | $55.1M | Reduce -13.5% |
| JNJ Johnson & Johnson | 1.17% | 177,339 | $46.9M | Add +0.6% |
| GRBK Green Brick Partners Inc. | 1.07% | 649,688 | $43.0M | Add +1.0% |
| RTX RTX Corp. | 1.01% | 219,207 | $40.7M | Reduce -0.3% |
| PEP Pepsico Inc. | 0.99% | 314,704 | $39.9M | Add +9.6% |
| CAT Caterpillar Inc. | 0.98% | 48,774 | $39.5M | Add +0.1% |
| ABBV Abbvie Inc. | 0.87% | 133,470 | $34.9M | Add +0.9% |
| WMT Walmart Inc. | 0.84% | 324,878 | $33.8M | Add +0.3% |
| TSM Taiwan Semiconductor-SP ADR | 0.84% | 73,674 | $33.6M | Reduce -8.2% |
| MRVL Marvell Technology Inc. | 0.82% | 124,133 | $32.8M | Reduce -4.8% |
| V Visa Inc. Class A | 0.79% | 87,923 | $31.6M | Add +4.6% |
| CSCO Cisco Systems Inc. | 0.73% | 271,027 | $29.2M | Add +1.0% |
| SCHX Schwab US Large-Cap ETF | 0.73% | 971,202 | $29.1M | Add +1.4% |
| ISRG Intuitive Surgical Inc. | 0.65% | 64,200 | $26.1M | Add +1.2% |
| SW Smurfit Westrock PLC | 0.62% | 561,957 | $24.8M | Reduce -0.0% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.62% | 266,935 | $24.7M | Reduce -0.8% |
| MRK Merck & Co. Inc. | 0.60% | 166,272 | $24.3M | Reduce -5.7% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.59% | 1,857,526 | $23.5M | Reduce -11.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.56% | 285,858 | $22.4M | Add +1.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.55% | 29,128 | $22.3M | Reduce -0.1% |
| SCHM Schwab US Mid Cap ETF | 0.55% | 645,893 | $22.0M | Add +0.5% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.54% | 76,294 | $21.7M | Add +1.9% |
| COST Costco Wholesale Corp. | 0.54% | 23,711 | $21.6M | Reduce -3.7% |
| LEN Lennar Corp. Class A | 0.53% | 262,888 | $21.4M | Add +1.5% |
| QCOM Qualcomm Inc. | 0.53% | 115,682 | $21.3M | Add +0.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.40% | 61,277 | $16.2M | Add +1.7% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.38% | 8,485 | $15.4M | Add +4.3% |
| XOM Exxonmobil Holdings Corp. | 0.38% | 93,627 | $15.2M | New |
| ETN Eaton Corp. PLC | 0.38% | 35,391 | $15.2M | Add +3.9% |
| PG The Procter & Gamble Co. | 0.36% | 100,554 | $14.6M | Reduce -0.6% |
| ACN Accenture PLC Class A | 0.33% | 71,289 | $13.1M | Reduce -3.1% |
| AMGN Amgen Inc. | 0.32% | 30,237 | $12.7M | Reduce -8.2% |
| ENTG Entegris Inc. | 0.31% | 80,804 | $12.4M | Add +4.2% |
| MCD McDonald's Corp. | 0.31% | 53,728 | $12.4M | Add +1.1% |
| BCPC Balchem Corp. | 0.30% | 73,845 | $12.2M | Reduce -3.3% |
| AVGO Broadcom Inc. | 0.30% | 34,450 | $12.1M | Add +0.1% |
| GEHC GE Healthcare Technology | 0.30% | 184,230 | $12.0M | Add +2.2% |
| MMM 3M Co. | 0.28% | 69,559 | $11.4M | Add +1.3% |
| NVS Novartis AG-Sponsored ADR | 0.28% | 77,768 | $11.1M | Add +9.4% |
| KMI Kinder Morgan Inc. | 0.27% | 354,812 | $10.7M | Add +1.6% |
| TMO Thermo Fisher Scientific Inc. | 0.26% | 15,502 | $10.5M | Reduce -10.8% |
| UI Ubiquiti Inc. | 0.26% | 18,228 | $10.3M | Reduce -2.1% |
| SCHA Schwab US Small-Cap ETF | 0.25% | 310,924 | $10.1M | Reduce -0.8% |
| CTAS Cintas Corp. | 0.24% | 50,253 | $9.8M | Add +8.1% |
| AEP American Electric Power | 0.23% | 79,363 | $9.4M | Reduce -3.6% |
| KO The Coca-Cola Co. | 0.23% | 105,980 | $9.2M | Reduce -0.0% |
| EPD Enterprise Products Partners | 0.23% | 254,293 | $9.1M | No change |
| BSX Boston Scientific Corp. | 0.23% | 207,191 | $9.0M | Add +9.7% |
| DELL Dell Technologies -C | 0.22% | 16,682 | $9.0M | Reduce -0.5% |
| IVV iShares Core S&P 500 ETF | 0.22% | 11,630 | $8.9M | Add +16.6% |
| RIO Rio Tinto PLC-Spon ADR | 0.22% | 92,560 | $8.7M | Reduce -13.4% |
| COF Capital One Financial Corp. | 0.21% | 43,839 | $8.5M | Reduce -0.2% |
| PSX Phillips 66 | 0.21% | 32,939 | $8.4M | Reduce -26.0% |
| IWR iShares Russell Mid-Cap ETF | 0.20% | 76,587 | $8.2M | Add +3.0% |
| VOO Vanguard S&P 500 ETF | 0.20% | 11,627 | $8.1M | Reduce -0.3% |
| TFC Truist Financial Corp. | 0.20% | 172,787 | $8.0M | Add +14.3% |
| HUBB Hubbell Inc. | 0.20% | 17,451 | $7.9M | Add +3.2% |
| SOLS Solstice Adv Materials Inc. | 0.20% | 139,517 | $7.9M | Add +23.2% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.20% | 70,786 | $7.9M | Reduce -8.3% |
| ET Energy Transfer LP | 0.19% | 383,387 | $7.6M | Add +0.0% |
| INTC Intel Corp. | 0.19% | 62,527 | $7.5M | Add +1.6% |
| PBR Petroleo Brasileiro-Spon ADR | 0.19% | 358,445 | $7.5M | Reduce -15.2% |
| ENB Enbridge Inc. | 0.19% | 160,824 | $7.5M | Add +0.5% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.19% | 10 | $7.5M | No change |
| TT Trane Technologies PLC | 0.18% | 16,178 | $7.3M | No change |
| HD Home Depot Inc. | 0.17% | 23,987 | $6.8M | Add +2.3% |
| FDX FedEx Corp. | 0.17% | 23,822 | $6.8M | Add +1.9% |
| CVX Chevron Corp. | 0.17% | 32,689 | $6.7M | Add +0.9% |
| NTRA Natera Inc. | 0.17% | 16,060 | $6.6M | Reduce -2.8% |
| PANW Palo Alto Networks Inc. | 0.16% | 16,637 | $6.6M | Add +3.5% |
| NBIS Nebius Group NV | 0.16% | 26,922 | $6.4M | Reduce -0.0% |
| KBH KB Home | 0.15% | 132,445 | $6.2M | Reduce -1.9% |
| MDLZ Mondelez International Inc. Class A | 0.15% | 105,118 | $6.1M | Add +1.6% |
| GS Goldman Sachs Group Inc. | 0.15% | 6,611 | $6.0M | Add +0.8% |
| MS Morgan Stanley | 0.15% | 31,615 | $5.9M | Add +1.1% |
| ABT Abbott Laboratories | 0.15% | 60,044 | $5.9M | Reduce -2.0% |
| WM Waste Management Inc. | 0.15% | 28,800 | $5.9M | Reduce -1.7% |
| CL Colgate-Palmolive Co. | 0.15% | 68,414 | $5.8M | Reduce -1.9% |
| SCHB Schwab US Broad Market ETF | 0.14% | 192,438 | $5.6M | Add +52.0% |
| VIG Vanguard Dividend Apprec ETF | 0.14% | 24,174 | $5.6M | Reduce -3.1% |
| SON Sonoco Products Co. | 0.13% | 110,307 | $5.4M | Add +2.8% |
| MELI MercadoLibre Inc. | 0.13% | 3,079 | $5.3M | Add +7.5% |
| NEE Nextera Energy Inc. | 0.13% | 68,129 | $5.2M | Add +0.1% |
| SNDK Sandisk Corp. | 0.13% | 2,912 | $5.1M | Add +3.0% |
| MTD Mettler-Toledo International | 0.12% | 3,300 | $5.0M | No change |
Portfolio Sells Q2 2026 → Q3 2026
| LOW Lowe's Cos Inc. | Reduce -0.0% | 6.41% | −1.22 |
| ALAB Astera Labs Inc. | Reduce -13.5% | 1.37% | −0.77 |
| MU Micron Technology Inc. | Reduce -3.0% | 4.58% | −0.51 |
| XOM Exxon Mobil Corp. | Sold out | 0.00% | −0.31 |
| GOOG Alphabet Inc. Class C | Reduce -0.6% | 4.16% | −0.16 |
| GOOGL Alphabet Inc. Class A | Reduce -3.4% | 2.20% | −0.15 |
| MRVL Marvell Technology Inc. | Reduce -4.8% | 0.82% | −0.15 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -8.2% | 0.84% | −0.11 |
| NU Nu Holdings Ltd./Cayman Isl-A | Reduce -11.9% | 0.59% | −0.11 |
| DY Dycom Industries Inc. | Reduce -2.7% | 0.09% | −0.08 |
| LLY Eli Lilly & Co. | Reduce -0.0% | 2.27% | −0.07 |
| WST West Pharmaceutical Services | Reduce -81.1% | 0.01% | −0.06 |
| KBH KB Home | Reduce -1.9% | 0.15% | −0.06 |
| PSUS Pershing Square USA Ltd. | Reduce -45.4% | 0.06% | −0.05 |
| ARCC Ares Capital Corp. | Reduce -54.1% | 0.04% | −0.05 |
| IRM Iron Mountain Inc. | Reduce -8.3% | 0.20% | −0.05 |
| AEP American Electric Power | Reduce -3.6% | 0.23% | −0.04 |
| FN Fabrinet | Sold out | 0.00% | −0.04 |
| HONA Honeywell Aerospace Inc. | Reduce -5.5% | 0.07% | −0.04 |
| GLW Corning Inc. | Reduce -0.3% | 0.05% | −0.04 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -13.4% | 0.22% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -3.7% | 0.54% | −0.03 |
| CAI Caris Life Sciences Inc. | Reduce -85.0% | 0.01% | −0.03 |
| KLAC KLA Corp. | Sold out | 0.00% | −0.03 |
| UNH Unitedhealth Group Inc. | Reduce -20.5% | 0.07% | −0.03 |
| CRI Carter's Inc. | Reduce -0.2% | 0.10% | −0.03 |
| TXT Textron Inc. | Reduce -15.1% | 0.07% | −0.03 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.03 |
| SCHA Schwab US Small-Cap ETF | Reduce -0.8% | 0.25% | −0.03 |
| SW Smurfit Westrock PLC | Reduce -0.0% | 0.62% | −0.03 |
| SYK Stryker Corp. | Reduce -43.6% | 0.03% | −0.03 |
| CPNG Coupang Inc. | Reduce -72.1% | 0.01% | −0.03 |
| NBIS Nebius Group NV | Reduce -0.0% | 0.16% | −0.03 |
| TSLA Tesla Inc. | Reduce -4.3% | 0.10% | −0.02 |
| AGG iShares Core U.S. Aggregate | Reduce -22.0% | 0.07% | −0.02 |
| KLAR Klarna Group PLC | Sold out | 0.00% | −0.02 |
| FLO Flowers Foods Inc. | Reduce -0.4% | 0.05% | −0.02 |
| RTX RTX Corp. | Reduce -0.3% | 1.01% | −0.02 |
| CVS CVS Health Corp. | Reduce -2.3% | 0.08% | −0.02 |
| BCPC Balchem Corp. | Reduce -3.3% | 0.30% | −0.02 |
| WM Waste Management Inc. | Reduce -1.7% | 0.15% | −0.02 |
| GE General Electric | Reduce -0.1% | 0.08% | −0.02 |
| LBRT Liberty Energy Inc. | Reduce -3.3% | 0.03% | −0.01 |
| CL Colgate-Palmolive Co. | Reduce -1.9% | 0.15% | −0.01 |
| LRCX Lam Research Corp. | Reduce -2.4% | 0.04% | −0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.6% | 2.14% | −0.01 |
| MKL Markel Group Inc. | Reduce -1.7% | 0.08% | −0.01 |
| FDXF FedEx Freight Holding Co. | Reduce -2.1% | 0.03% | −0.01 |
| RDDT Reddit Inc. Class A | Reduce -38.2% | 0.01% | −0.01 |
| FRPH FRP Holdings Inc. | Reduce -0.3% | 0.06% | −0.01 |
Portfolio Buys Q2 2026 → Q3 2026
| MSFT Microsoft Corp. | Add +0.9% | 5.13% | +1.45 |
| XOM Exxonmobil Holdings Corp. | New | 0.38% | +0.38 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.7% | 0.40% | +0.12 |
| ONDS Ondas Inc. | New | 0.08% | +0.08 |
| V Visa Inc. Class A | Add +4.6% | 0.79% | +0.07 |
| JNJ Johnson & Johnson | Add +0.6% | 1.17% | +0.06 |
| SCHB Schwab US Broad Market ETF | Add +52.0% | 0.14% | +0.05 |
| CTAS Cintas Corp. | Add +8.1% | 0.24% | +0.05 |
| QXO Qxo Inc. | Add +177.9% | 0.10% | +0.05 |
| ABBV Abbvie Inc. | Add +0.9% | 0.87% | +0.04 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +90.3% | 0.11% | +0.04 |
| IVV iShares Core S&P 500 ETF | Add +16.6% | 0.22% | +0.04 |
| CVX Chevron Corp. | Add +0.9% | 0.17% | +0.03 |
| JPM JPMorgan Chase & Co. | Add +0.1% | 2.00% | +0.03 |
| PEP Pepsico Inc. | Add +9.6% | 0.99% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +3.5% | 0.16% | +0.03 |
| SCHX Schwab US Large-Cap ETF | Add +1.4% | 0.73% | +0.03 |
| BSX Boston Scientific Corp. | Add +9.7% | 0.23% | +0.03 |
| OKE Oneok Inc. | New | 0.03% | +0.03 |
| ISRG Intuitive Surgical Inc. | Add +1.2% | 0.65% | +0.02 |
| JPIE JPMorgan Income ETF | Add +181.8% | 0.04% | +0.02 |
| NOW ServiceNow Inc. | Add +3.6% | 0.08% | +0.02 |
| ETN Eaton Corp. PLC | Add +3.9% | 0.38% | +0.02 |
| TEM Tempus AI Inc. Class A | Add +0.3% | 0.06% | +0.02 |
| PS Pershing Square Inc. | Add +1.5% | 0.04% | +0.02 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +81.9% | 0.03% | +0.02 |
| ADBE Adobe Inc. | Add +1.7% | 0.09% | +0.01 |
| GEHC GE Healthcare Technology | Add +2.2% | 0.30% | +0.01 |
| TFC Truist Financial Corp. | Add +14.3% | 0.20% | +0.01 |
| MELI MercadoLibre Inc. | Add +7.5% | 0.13% | +0.01 |
| IDR Idaho Strategic Resources Inc. | New | 0.01% | +0.01 |
| MMM 3M Co. | Add +1.3% | 0.28% | +0.01 |
| WWD Woodward Inc. | New | 0.01% | +0.01 |
| ET Energy Transfer LP | Add +0.0% | 0.19% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +9.3% | 0.06% | +0.01 |
| INTU Intuit Inc. | Add +2.0% | 0.08% | +0.01 |
| EFA iShares MSCI Eafe ETF | Add +23.7% | 0.03% | +0.01 |
| SCHO Schwab Short-Term US Treas | New | 0.01% | +0.01 |
| MDY State Street SPDR S&P Midcap | Add +15.4% | 0.08% | +0.01 |
| EMR Emerson Electric Co. | Add +0.4% | 0.06% | +0.01 |
| SCHP Schwab U.S. Tips ETF | Add +675.9% | 0.01% | +0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +0.5% | 0.09% | +0.01 |
| BLK BlackRock Inc. | Add +186.2% | 0.01% | +0.00 |
| HACK Amplify Cybersecurity ETF | Add +375.0% | 0.01% | +0.00 |
| NUE Nucor Corp. | Add +0.0% | 0.09% | +0.00 |
| VMC Vulcan Materials Co. | Add +154.1% | 0.01% | +0.00 |
| IWM iShares Russell 2000 ETF | Add +11.7% | 0.10% | +0.00 |
| QCOM Qualcomm Inc. | Add +0.7% | 0.53% | +0.00 |
| COP Conocophillips | Add +2.4% | 0.02% | +0.00 |
| ANET Arista Networks Inc. | Add +52.1% | 0.01% | +0.00 |
Notes & Other Activity Q2 2026 → Q3 2026
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | Sold out | 56 | $1Kbefore exit |
| COHEN & STEERS QUALITY-R | RIGHT 07/15/2026 | Sold out | 15,000 | $224before exit |
| HUM Humana Inc. | COM | Sold out | 0 | $17before exit |
| VIV Telefonica Brasil-ADR | SPONSORED ADS | Sold out | 0 | $7before exit |
| OPENW Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | Sold out | 11 | $6before exit |
| OPENL Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | Sold out | 11 | $4before exit |
| OPENZ Opendoor Technologies Inc.-26 | *W EXP 11/20/202 | Sold out | 11 | $3before exit |
| GTOP GS Tech Opportunities ETF | TECHN OPPOR ETF | Sold out | 0 | $1before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2026 | 412 | $4.0B | NVDA, AAPL, LOW, MSFT, MU |
| Q2 2026 | 1,236 | $4.0B | LOW, NVDA, AAPL, MU, GOOG |
| Q1 2026Amended | 1,235 | $3.4B | LOW, NVDA, AAPL, MSFT, GOOG |
| Q4 2025 | 391 | $3.5B | LOW, NVDA, AAPL, MSFT, GOOG |
| Q3 2025 | 1,209 | $3.5B | LOW, NVDA, AAPL, MSFT, PLTR |
| Q2 2025Amended | 1,168 | $3.2B | LOW, NVDA, AAPL, MSFT, META |
| Q1 2025 | 1,216 | $2.9B | LOW, AAPL, NVDA, MSFT, META |
| Q4 2024 | 1,200 | $3.0B | LOW, AAPL, NVDA, MSFT, AMZN |
| Q3 2024 | 1,184 | $3.3B | LOW, AAPL, NVDA, MSFT, META |
| Q2 2024 | 1,162 | $3.1B | LOW, AAPL, NVDA, MSFT, AMZN |
| Q1 2024 | 1,165 | $3.0B | LOW, AAPL, MSFT, NVDA, AMZN |