Salem Investment Counselors Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed July 11, 2024), Salem Investment Counselors Inc. reported 1,162 stock positions worth $3.1 billion. Its top holding was Lowe's Cos (LOW) at 15.6% of the portfolio, followed by Apple (AAPL, 6.8%) and Nvidia (NVDA, 6.2%). Compared with Q1 2024, it opened 50 new positions, sold out of 56, added to 175 and reduced 266. The biggest buy was Amazon.com (AMZN, shares +2%) and the biggest sale Lowe's Cos (LOW, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- WINSTON-SALEM, NC
- CIK
- 0000884423
- Portfolio Value
- $3.1B (Q2 2024)
- SEC Filing
- 0001420506-24-001097 ↗ filed Jul 11, 2024
Holdings Value
Holdings 1,162 stocks · $3.1B
| LOW Lowe's Cos Inc. | 15.64% | 2,198,835 | $484.8M | Reduce -0.1% |
| AAPL Apple Inc. | 6.83% | 1,004,946 | $211.7M | Reduce -1.1% |
| NVDA Nvidia Corp. | 6.16% | 1,545,112 | $190.9M | Reduce -5.8% |
| MSFT Microsoft Corp. | 5.83% | 404,507 | $180.8M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 3.02% | 484,659 | $93.7M | Add +2.2% |
| GOOG Alphabet Inc. Class C | 2.99% | 505,622 | $92.7M | Reduce -0.2% |
| META Meta Platforms Inc. Class A | 2.78% | 171,129 | $86.3M | Add +2.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.33% | 177,500 | $72.2M | Reduce -0.2% |
| LLY Eli Lilly & Co. | 2.09% | 71,550 | $64.8M | Reduce -1.1% |
| GOOGL Alphabet Inc. Class A | 1.66% | 282,236 | $51.4M | Reduce -1.4% |
| PEP Pepsico Inc. | 1.58% | 297,279 | $49.0M | Add +0.4% |
| MU Micron Technology Inc. | 1.50% | 354,383 | $46.6M | Reduce -1.4% |
| JPM JPMorgan Chase & Co. | 1.50% | 230,449 | $46.6M | Reduce -0.4% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.47% | 1,149,487 | $45.7M | Reduce -1.6% |
| PLTR Palantir Technologies Inc. Class A | 1.41% | 1,720,317 | $43.6M | Add +0.5% |
| GRBK Green Brick Partners Inc. | 1.37% | 743,183 | $42.5M | Add +0.8% |
| LEN Lennar Corp. Class A | 1.31% | 271,799 | $40.7M | Reduce -0.8% |
| MRK Merck & Co. Inc. | 1.01% | 252,594 | $31.4M | Add +1.1% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.97% | 2,330,926 | $30.0M | Add +1.2% |
| WRK Westrock Co. | 0.97% | 596,664 | $30.0M | Reduce -0.7% |
| ISRG Intuitive Surgical Inc. | 0.89% | 62,231 | $27.7M | Add +2.0% |
| AMD Advanced Micro Devices | 0.86% | 164,295 | $26.7M | Add +4.1% |
| JNJ Johnson & Johnson | 0.85% | 179,446 | $26.2M | Add +0.5% |
| ACN Accenture PLC Class A | 0.80% | 81,889 | $24.8M | Reduce -3.5% |
| RTX RTX Corp. | 0.74% | 227,820 | $22.9M | Reduce -2.6% |
| QCOM Qualcomm Inc. | 0.73% | 114,104 | $22.7M | Reduce -0.2% |
| WMT Walmart Inc. | 0.73% | 333,185 | $22.6M | Add +0.1% |
| ABBV Abbvie Inc. | 0.72% | 130,775 | $22.4M | Add +3.0% |
| V Visa Inc. Class A | 0.68% | 79,974 | $21.0M | Add +22.1% |
| COST Costco Wholesale Corp. | 0.65% | 23,849 | $20.3M | Add +2.6% |
| UNH Unitedhealth Group Inc. | 0.65% | 39,591 | $20.2M | Add +2.3% |
| SCHX Schwab US Large-Cap ETF | 0.65% | 312,861 | $20.1M | Reduce -0.2% |
| SCHM Schwab US Mid Cap ETF | 0.61% | 241,127 | $18.8M | Reduce -3.9% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.58% | 57,363 | $18.0M | Add +5.7% |
| TSM Taiwan Semiconductor-SP ADR | 0.58% | 103,677 | $18.0M | Reduce -0.6% |
| PG The Procter & Gamble Co. | 0.58% | 108,978 | $18.0M | Add +0.7% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.53% | 68,171 | $16.6M | Reduce -0.1% |
| BSX Boston Scientific Corp. | 0.53% | 211,879 | $16.3M | Add +0.3% |
| CSCO Cisco Systems Inc. | 0.52% | 341,445 | $16.2M | Reduce -3.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.51% | 71,707 | $15.7M | Reduce -0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.49% | 28,075 | $15.3M | Add +1.9% |
| CAT Caterpillar Inc. | 0.45% | 41,884 | $14.0M | Reduce -0.1% |
| MCD McDonald's Corp. | 0.43% | 52,407 | $13.4M | Add +0.5% |
| HON Honeywell International Inc. | 0.41% | 59,225 | $12.6M | Reduce -3.5% |
| BCPC Balchem Corp. | 0.39% | 79,345 | $12.2M | Reduce -6.5% |
| ROP Roper Technologies Inc. | 0.37% | 20,452 | $11.5M | Reduce -8.7% |
| TFC Truist Financial Corp. | 0.37% | 294,838 | $11.5M | Reduce -1.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.35% | 28,434 | $10.9M | Add +1.2% |
| KBH KB Home | 0.34% | 150,875 | $10.6M | Add +1.1% |
| XOM Exxon Mobil Corp. | 0.33% | 88,758 | $10.2M | Add +28.3% |
| TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC | 0.31% | 82,866 | $9.6M | Reduce -8.3% |
| GEHC GE Healthcare Technology | 0.30% | 121,260 | $9.4M | Add +13.4% |
| TMO Thermo Fisher Scientific Inc. | 0.30% | 16,755 | $9.3M | Reduce -1.8% |
| KMB Kimberly-Clark Corp. | 0.29% | 64,659 | $9.0M | Add +0.2% |
| ABT Abbott Laboratories | 0.28% | 82,058 | $8.5M | Reduce -1.2% |
| RIO Rio Tinto PLC-Spon ADR | 0.27% | 126,522 | $8.3M | Reduce -0.6% |
| TTE Totalenergies SE -Spon ADR | 0.26% | 121,961 | $8.1M | Reduce -0.4% |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.26% | 88,506 | $7.9M | Add +4.0% |
| SCHA Schwab US Small-Cap ETF | 0.26% | 166,658 | $7.9M | Reduce -2.2% |
| HD Home Depot Inc. | 0.25% | 22,579 | $7.8M | Reduce -15.0% |
| CL Colgate-Palmolive Co. | 0.25% | 79,721 | $7.7M | Add +1.2% |
| CVS CVS Health Corp. | 0.25% | 130,187 | $7.7M | Reduce -3.7% |
| AMGN Amgen Inc. | 0.24% | 23,589 | $7.4M | Add +4.8% |
| STZ Constellation Brands Inc. Class A | 0.23% | 27,816 | $7.2M | Add +1.6% |
| PSX Phillips 66 | 0.23% | 49,747 | $7.0M | Reduce -0.8% |
| KO The Coca-Cola Co. | 0.23% | 109,489 | $7.0M | Reduce -0.6% |
| MMM 3M Co. | 0.22% | 67,826 | $6.9M | Reduce -2.2% |
| VOO Vanguard S&P 500 ETF | 0.22% | 13,738 | $6.9M | Add +1.5% |
| KMI Kinder Morgan Inc. | 0.22% | 339,960 | $6.8M | Reduce -2.2% |
| AEP American Electric Power | 0.22% | 76,849 | $6.7M | Add +4.2% |
| IWR iShares Russell Mid-Cap ETF | 0.21% | 79,975 | $6.5M | Reduce -1.3% |
| ARCC Ares Capital Corp. | 0.21% | 307,288 | $6.4M | Reduce -0.4% |
| WM Waste Management Inc. | 0.20% | 29,333 | $6.3M | Add +1.9% |
| ET Energy Transfer LP | 0.20% | 384,774 | $6.2M | Add +0.3% |
| ALSN Allison Transmission Holding | 0.20% | 81,790 | $6.2M | Reduce -1.3% |
| MDLZ Mondelez International Inc. Class A | 0.20% | 93,678 | $6.2M | Reduce -2.8% |
| FDX FedEx Corp. | 0.20% | 20,335 | $6.1M | Add +0.2% |
| TXT Textron Inc. | 0.19% | 70,370 | $6.0M | Add +6.1% |
| PBR Petroleo Brasileiro-Spon ADR | 0.19% | 414,261 | $6.0M | Add +12.4% |
| EPD Enterprise Products Partners | 0.19% | 204,591 | $5.9M | Reduce -0.5% |
| SMCI Super Micro Computer Inc. | 0.19% | 7,077 | $5.8M | Add +37.0% |
| IVV iShares Core S&P 500 ETF | 0.18% | 10,247 | $5.6M | Reduce -0.3% |
| OBDC Blue Owl Capital Corp. | 0.18% | 359,590 | $5.5M | Add +8.1% |
| CVX Chevron Corp. | 0.17% | 34,270 | $5.4M | Add +2.0% |
| SRDX Surmodics Inc. | 0.16% | 120,650 | $5.1M | Reduce -0.3% |
| FLO Flowers Foods Inc. | 0.16% | 225,669 | $5.0M | Reduce -0.1% |
| TT Trane Technologies PLC | 0.16% | 15,187 | $5.0M | No change |
| ORCL Oracle Corp. | 0.15% | 33,783 | $4.8M | Reduce -0.3% |
| SON Sonoco Products Co. | 0.15% | 92,014 | $4.7M | Reduce -2.9% |
| NEE Nextera Energy Inc. | 0.15% | 65,758 | $4.7M | Reduce -1.0% |
| MTD Mettler-Toledo International | 0.15% | 3,300 | $4.6M | No change |
| MLM Martin Marietta Materials | 0.15% | 8,363 | $4.5M | No change |
| INTC Intel Corp. | 0.14% | 143,257 | $4.4M | Reduce -5.9% |
| FANG Diamondback Energy Inc. | 0.14% | 21,797 | $4.4M | Add +0.7% |
| AVGO Broadcom Inc. | 0.14% | 2,712 | $4.4M | Add +2.9% |
| ASML ASML Holding NV-NY Reg SHS | 0.14% | 4,226 | $4.3M | Add +22.2% |
| EVH Evolent Health Inc. Class A | 0.14% | 225,901 | $4.3M | Add +88.1% |
| VIG Vanguard Dividend Apprec ETF | 0.14% | 23,524 | $4.3M | Add +8.9% |
| WSM Williams-Sonoma Inc. | 0.13% | 14,665 | $4.1M | Reduce -1.6% |
| DFS Discover Financial Services | 0.13% | 31,340 | $4.1M | Reduce -1.2% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $4K (not counted above)
Total filed on the 13F, all lines: $3.1B.
Portfolio Sells Q1 2024 → Q2 2024
| LOW Lowe's Cos Inc. | Reduce -0.1% | 15.64% | −2.77 |
| LEN Lennar Corp. Class A | Reduce -0.8% | 1.31% | −0.23 |
| ACN Accenture PLC Class A | Reduce -3.5% | 0.80% | −0.16 |
| DNA Ginkgo Bioworks Holdings Inc. | Reduce -40.7% | 0.03% | −0.15 |
| HUN Huntsman Corp. | Reduce -99.0% | 0.00% | −0.13 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 2.33% | −0.13 |
| CVS CVS Health Corp. | Reduce -3.7% | 0.25% | −0.11 |
| BMY Bristol-Myers Squibb Co. | Reduce -53.5% | 0.05% | −0.09 |
| HD Home Depot Inc. | Reduce -15.0% | 0.25% | −0.08 |
| INTC Intel Corp. | Reduce -5.9% | 0.14% | −0.08 |
| PXD Pioneer Natural Resources Co. | Sold out | 0.00% | −0.08 |
| LOB Live Oak Bancshares Inc. | Reduce -26.5% | 0.10% | −0.07 |
| SCHM Schwab US Mid Cap ETF | Reduce -3.9% | 0.61% | −0.06 |
| CSCO Cisco Systems Inc. | Reduce -3.9% | 0.52% | −0.06 |
| CAT Caterpillar Inc. | Reduce -0.1% | 0.45% | −0.05 |
| TROW T Rowe Price Group Inc. | Reduce -8.3% | 0.31% | −0.05 |
| AMJ JPMorgan Alerian MLP Index | Sold out | 0.00% | −0.05 |
| PSX Phillips 66 | Reduce -0.8% | 0.23% | −0.04 |
| ROP Roper Technologies Inc. | Reduce -8.7% | 0.37% | −0.04 |
| NGVT Ingevity Corp. | Reduce -15.3% | 0.12% | −0.04 |
| BCPC Balchem Corp. | Reduce -6.5% | 0.39% | −0.04 |
| NUE Nucor Corp. | Reduce -1.3% | 0.13% | −0.04 |
| ABT Abbott Laboratories | Reduce -1.2% | 0.28% | −0.04 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -0.2% | 0.51% | −0.03 |
| SON Sonoco Products Co. | Reduce -2.9% | 0.15% | −0.03 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.8% | 0.30% | −0.03 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Reduce -0.1% | 0.53% | −0.03 |
| DIS The Walt Disney Co. | Reduce -13.6% | 0.05% | −0.02 |
| MDLZ Mondelez International Inc. Class A | Reduce -2.8% | 0.20% | −0.02 |
| ABNB Airbnb Inc. Class A | Reduce -6.2% | 0.13% | −0.02 |
| WSM Williams-Sonoma Inc. | Reduce -1.6% | 0.13% | −0.02 |
| ALSN Allison Transmission Holding | Reduce -1.3% | 0.20% | −0.02 |
| SCHA Schwab US Small-Cap ETF | Reduce -2.2% | 0.26% | −0.02 |
| KLG WK Kellogg Co. | Reduce -5.2% | 0.08% | −0.02 |
| JPM JPMorgan Chase & Co. | Reduce -0.4% | 1.50% | −0.02 |
| MMM 3M Co. | Reduce -2.2% | 0.22% | −0.02 |
| TTE Totalenergies SE -Spon ADR | Reduce -0.4% | 0.26% | −0.02 |
| TSLA Tesla Inc. | Reduce -22.2% | 0.10% | −0.02 |
| XONE Bondbloxx BBG 1 Dur US Treas | Sold out | 0.00% | −0.02 |
| TFC Truist Financial Corp. | Reduce -1.9% | 0.37% | −0.02 |
| FLO Flowers Foods Inc. | Reduce -0.1% | 0.16% | −0.01 |
| IWR iShares Russell Mid-Cap ETF | Reduce -1.3% | 0.21% | −0.01 |
| HSIC Henry Schein Inc. | Reduce -0.3% | 0.07% | −0.01 |
| SCHF Schwab Intl Equity ETF | Reduce -6.7% | 0.11% | −0.01 |
| RTX RTX Corp. | Reduce -2.6% | 0.74% | −0.01 |
| ISTB iShares Core 1-5 Year Usd Bo | Reduce -75.5% | 0.00% | −0.01 |
| FRPH FRP Holdings Inc. | Reduce -0.5% | 0.10% | −0.01 |
| NKE Nike Inc. Class B | Reduce -0.6% | 0.03% | −0.01 |
| SBUX Starbucks Corp. | Reduce -31.5% | 0.01% | −0.01 |
| WRK Westrock Co. | Reduce -0.7% | 0.97% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| AMZN Amazon.com Inc. | Add +2.2% | 3.02% | +0.21 |
| PLTR Palantir Technologies Inc. Class A | Add +0.5% | 1.41% | +0.11 |
| META Meta Platforms Inc. Class A | Add +2.2% | 2.78% | +0.11 |
| COST Costco Wholesale Corp. | Add +2.6% | 0.65% | +0.09 |
| ISRG Intuitive Surgical Inc. | Add +2.0% | 0.89% | +0.09 |
| NOW ServiceNow Inc. | Add +441.0% | 0.10% | +0.09 |
| TERN Terns Pharmaceuticals Inc. | New | 0.08% | +0.08 |
| V Visa Inc. Class A | Add +22.1% | 0.68% | +0.08 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +5.7% | 0.58% | +0.07 |
| WMT Walmart Inc. | Add +0.1% | 0.73% | +0.07 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +1.2% | 0.97% | +0.07 |
| XOM Exxon Mobil Corp. | Add +28.3% | 0.33% | +0.07 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +1.2% | 0.35% | +0.06 |
| NTRA Natera Inc. | New | 0.05% | +0.05 |
| BSX Boston Scientific Corp. | Add +0.3% | 0.53% | +0.05 |
| MELI MercadoLibre Inc. | Add +165.9% | 0.07% | +0.04 |
| AVTR Avantor Inc. | Add +6373.5% | 0.04% | +0.04 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +47.1% | 0.09% | +0.03 |
| AGG iShares Core U.S. Aggregate | Add +78.6% | 0.08% | +0.03 |
| IRM Iron Mountain Inc. | Add +4.0% | 0.26% | +0.03 |
| ASML ASML Holding NV-NY Reg SHS | Add +22.2% | 0.14% | +0.03 |
| AMGN Amgen Inc. | Add +4.8% | 0.24% | +0.03 |
| AVGO Broadcom Inc. | Add +2.9% | 0.14% | +0.03 |
| SGOV iShares 0-3 Month Treasury B | Add +135.3% | 0.04% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +2.3% | 0.65% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.9% | 0.49% | +0.02 |
| QQQM Invesco Nasdaq 100 ETF | Add +382.4% | 0.02% | +0.02 |
| CL Colgate-Palmolive Co. | Add +1.2% | 0.25% | +0.02 |
| SCHD Schwab US DVD Equity ETF | Add +40.3% | 0.06% | +0.02 |
| SYK Stryker Corp. | Add +37.4% | 0.07% | +0.02 |
| SMCI Super Micro Computer Inc. | Add +37.0% | 0.19% | +0.02 |
| JQUA JPMorgan US Quality Factor | Add +86.7% | 0.03% | +0.01 |
| USMV iShares MSCI USA Min Vol Fac | Add +268.1% | 0.02% | +0.01 |
| KMB Kimberly-Clark Corp. | Add +0.2% | 0.29% | +0.01 |
| EVH Evolent Health Inc. Class A | Add +88.1% | 0.14% | +0.01 |
| VIG Vanguard Dividend Apprec ETF | Add +8.9% | 0.14% | +0.01 |
| PBR Petroleo Brasileiro-Spon ADR | Add +12.4% | 0.19% | +0.01 |
| AEP American Electric Power | Add +4.2% | 0.22% | +0.01 |
| AMLP Alerian MLP ETF | Add +9.9% | 0.10% | +0.01 |
| AI C3.AI Inc. Class A | Add +6702.3% | 0.01% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +1.5% | 0.22% | +0.01 |
| GS Goldman Sachs Group Inc. | Add +1.4% | 0.10% | +0.01 |
| WBD Warner Bros Discovery Inc. | Add +87.5% | 0.02% | +0.01 |
| PM Philip Morris International | Add +1.1% | 0.07% | +0.01 |
| ABCL Abcellera Biologics Inc. | New | 0.01% | +0.01 |
| JEPI JPMorgan Equity Premium Inco | Add +229.1% | 0.01% | +0.01 |
| VTI VG Morningstar TS MKT ETF-US | Add +9.5% | 0.06% | +0.01 |
| OBDC Blue Owl Capital Corp. | Add +8.1% | 0.18% | +0.01 |
| DFAI Dimensional International Co. | Add +50.7% | 0.02% | +0.00 |
| APD Air Products & Chemicals Inc. | Add +493.8% | 0.01% | +0.00 |
Notes & Other Activity Q1 2024 → Q2 2024
| SAVAW Cassava Sciences Inc.-28 | *W EXP 11/15/202 | Sold out | 110 | $444before exit |
| WBXWF Wallbox BV Class A -CW26 | *W EXP 10/01/202 | Reduce -94.7% | 1,874 | $222 |
| VICI Vici Properties Inc. | COM | Sold out | 0 | $169before exit |
| IEP Icahn Enterprises LP | DEPOSITARY UNIT | Sold out | 0 | $26before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| 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 |