Salem Investment Counselors Inc.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 29, 2026), Salem Investment Counselors Inc. reported 1,235 stock positions worth $3.4 billion. Its top holding was Lowe's Cos (LOW) at 9.7% of the portfolio, followed by Nvidia (NVDA, 7.1%) and Apple (AAPL, 7.1%). Compared with Q4 2025, it opened 846 new positions, sold out of 3, added to 141 and reduced 139. The biggest buy was Novartis AG-Sponsored ADR (NVS, shares +1188%) and the biggest sale Palantir Technologies Class A (PLTR, shares −9%).
- Most Recent 13F
- Q2 2026
- Location
- WINSTON-SALEM, NC
- CIK
- 0000884423
- Portfolio Value
- $3.4B (Q1 2026)
- SEC Filing
- 0001420506-26-000766 ↗ filed Apr 29, 2026
Holdings Value
Holdings 1,235 stocks · $3.4B
| LOW Lowe's Cos Inc. | 9.67% | 1,394,452 | $329.5M | Reduce -0.0% |
| NVDA Nvidia Corp. | 7.12% | 1,390,529 | $242.5M | Reduce -2.1% |
| AAPL Apple Inc. | 7.11% | 954,501 | $242.2M | Reduce -1.0% |
| MSFT Microsoft Corp. | 4.25% | 391,492 | $144.9M | Add +0.5% |
| GOOG Alphabet Inc. Class C | 4.17% | 495,496 | $142.1M | Reduce -0.8% |
| AMZN Amazon.com Inc. | 2.96% | 484,274 | $100.9M | Add +0.8% |
| META Meta Platforms Inc. Class A | 2.63% | 156,791 | $89.7M | Add +0.5% |
| PLTR Palantir Technologies Inc. Class A | 2.49% | 579,797 | $84.8M | Reduce -9.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.41% | 171,270 | $82.1M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 2.27% | 269,075 | $77.4M | Add +0.4% |
| LLY Eli Lilly & Co. | 2.12% | 78,553 | $72.3M | Reduce -0.9% |
| JPM JPMorgan Chase & Co. | 2.08% | 241,394 | $71.0M | Add +0.2% |
| MU Micron Technology Inc. | 2.04% | 205,436 | $69.4M | Reduce -0.5% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.62% | 1,132,378 | $55.2M | Add +0.5% |
| AMD Advanced Micro Devices | 1.58% | 264,965 | $53.9M | Add +0.7% |
| PEP Pepsico Inc. | 1.30% | 284,753 | $44.2M | Reduce -0.0% |
| JNJ Johnson & Johnson | 1.27% | 176,669 | $43.2M | Reduce -0.6% |
| RTX RTX Corp. | 1.25% | 220,342 | $42.5M | Add +0.2% |
| WMT Walmart Inc. | 1.22% | 333,325 | $41.5M | Reduce -0.5% |
| GRBK Green Brick Partners Inc. | 1.21% | 641,855 | $41.4M | Reduce -0.5% |
| CAT Caterpillar Inc. | 1.02% | 48,922 | $34.7M | Reduce -0.4% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.89% | 2,112,866 | $30.4M | Add +1.2% |
| ISRG Intuitive Surgical Inc. | 0.85% | 62,800 | $29.0M | Add +1.4% |
| ABBV Abbvie Inc. | 0.84% | 131,895 | $28.7M | Add +0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.83% | 83,317 | $28.2M | Add +1.8% |
| V Visa Inc. Class A | 0.73% | 81,800 | $24.7M | Add +1.2% |
| COST Costco Wholesale Corp. | 0.72% | 24,622 | $24.5M | Add +2.0% |
| SCHX Schwab US Large-Cap ETF | 0.71% | 940,055 | $24.1M | Add +0.3% |
| LEN Lennar Corp. Class A | 0.67% | 262,412 | $22.8M | Add +0.2% |
| SW Smurfit Westrock PLC | 0.67% | 570,563 | $22.7M | Add +3.0% |
| MRK Merck & Co. Inc. | 0.63% | 176,372 | $21.3M | Reduce -6.4% |
| CSCO Cisco Systems Inc. | 0.61% | 269,585 | $20.9M | Add +0.1% |
| ALAB Astera Labs Inc. | 0.59% | 184,908 | $20.3M | Add +1.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.59% | 69,879 | $20.1M | Reduce -0.3% |
| SCHM Schwab US Mid Cap ETF | 0.59% | 645,860 | $20.0M | Add +1.7% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.58% | 53,910 | $19.8M | Reduce -1.8% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.58% | 74,831 | $19.6M | Add +0.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.57% | 29,721 | $19.4M | Reduce -0.8% |
| MCD McDonald's Corp. | 0.48% | 52,679 | $16.4M | Reduce -0.3% |
| XOM Exxon Mobil Corp. | 0.45% | 90,617 | $15.4M | Add +0.1% |
| UI Ubiquiti Inc. | 0.44% | 19,146 | $15.1M | Reduce -4.4% |
| ACN Accenture PLC Class A | 0.44% | 76,017 | $15.1M | Reduce -2.8% |
| QCOM Qualcomm Inc. | 0.43% | 114,343 | $14.7M | Add +0.8% |
| PG The Procter & Gamble Co. | 0.43% | 101,819 | $14.7M | Reduce -1.7% |
| GEHC GE Healthcare Technology | 0.39% | 184,492 | $13.1M | Add +4.6% |
| BCPC Balchem Corp. | 0.38% | 76,345 | $12.9M | No change |
| BSX Boston Scientific Corp. | 0.37% | 201,532 | $12.6M | Add +2.8% |
| TFC Truist Financial Corp. | 0.37% | 272,825 | $12.5M | Reduce -0.7% |
| MRVL Marvell Technology Inc. | 0.35% | 120,970 | $12.0M | Add +9.0% |
| ETN Eaton Corp. PLC | 0.35% | 33,301 | $11.9M | Add +2.6% |
| KMI Kinder Morgan Inc. | 0.34% | 346,971 | $11.6M | Reduce -0.3% |
| AMGN Amgen Inc. | 0.32% | 30,709 | $10.8M | Add +2.6% |
| AEP American Electric Power | 0.31% | 81,308 | $10.7M | Reduce -1.4% |
| NVS Novartis AG-Sponsored ADR | 0.31% | 68,728 | $10.5M | Add +1187.8% |
| AVGO Broadcom Inc. | 0.31% | 33,801 | $10.5M | Add +3.3% |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.30% | 7,638 | $10.1M | Add +2.7% |
| MMM 3M Co. | 0.29% | 68,611 | $10.0M | Add +0.2% |
| RIO Rio Tinto PLC-Spon ADR | 0.29% | 105,137 | $9.8M | Add +5.7% |
| HON Honeywell International Inc. | 0.28% | 42,709 | $9.7M | Reduce -1.8% |
| EPD Enterprise Products Partners | 0.28% | 254,426 | $9.6M | No change |
| PBR Petroleo Brasileiro-Spon ADR | 0.28% | 456,331 | $9.5M | Reduce -9.3% |
| SCHA Schwab US Small-Cap ETF | 0.27% | 310,674 | $9.0M | Add +2.1% |
| ENB Enbridge Inc. | 0.25% | 160,154 | $8.7M | Add +0.6% |
| SOLS Solstice Adv Materials Inc. | 0.25% | 110,499 | $8.4M | Add +6.0% |
| TMO Thermo Fisher Scientific Inc. | 0.24% | 16,962 | $8.3M | Add +3.0% |
| FDX FedEx Corp. | 0.24% | 23,238 | $8.3M | Reduce -0.2% |
| PSX Phillips 66 | 0.24% | 45,404 | $8.3M | Reduce -1.4% |
| COF Capital One Financial Corp. | 0.24% | 44,723 | $8.2M | Add +0.7% |
| KO The Coca-Cola Co. | 0.24% | 106,375 | $8.1M | Add +0.7% |
| HUBB Hubbell Inc. | 0.24% | 16,516 | $8.1M | Reduce -1.0% |
| CTAS Cintas Corp. | 0.23% | 47,329 | $8.0M | New |
| IRM Iron Mountain Inc. filed as IRON MTN INC DEL | 0.23% | 78,121 | $8.0M | Add +0.8% |
| HD Home Depot Inc. | 0.23% | 23,419 | $7.7M | Add +0.5% |
| ET Energy Transfer LP | 0.22% | 383,340 | $7.4M | Add +0.0% |
| IWR iShares Russell Mid-Cap ETF | 0.22% | 75,771 | $7.4M | Reduce -0.1% |
| ABT Abbott Laboratories | 0.21% | 70,246 | $7.2M | Reduce -9.1% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.21% | 10 | $7.2M | No change |
| KBH KB Home | 0.21% | 136,670 | $7.1M | Reduce -1.5% |
| IVV iShares Core S&P 500 ETF | 0.21% | 10,745 | $7.0M | Reduce -1.8% |
| VOO Vanguard S&P 500 ETF | 0.20% | 11,600 | $6.9M | Reduce -1.4% |
| WM Waste Management Inc. | 0.20% | 29,622 | $6.8M | Reduce -0.9% |
| CVX Chevron Corp. | 0.20% | 32,618 | $6.7M | Add +0.6% |
| TT Trane Technologies PLC | 0.20% | 16,178 | $6.7M | No change |
| NEE Nextera Energy Inc. | 0.18% | 67,259 | $6.2M | Add +0.6% |
| CL Colgate-Palmolive Co. | 0.18% | 71,242 | $6.1M | Reduce -5.6% |
| GS Goldman Sachs Group Inc. | 0.18% | 7,062 | $6.0M | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.17% | 102,442 | $6.0M | Add +0.7% |
| CRWD CrowdStrike Holdings Inc. Class A | 0.17% | 15,218 | $5.9M | Reduce -5.1% |
| SON Sonoco Products Co. | 0.17% | 105,572 | $5.7M | Reduce -0.2% |
| VIG Vanguard Dividend Apprec ETF | 0.16% | 25,919 | $5.6M | Reduce -5.3% |
| ORCL Oracle Corp. | 0.15% | 35,522 | $5.2M | Add +2.2% |
| MS Morgan Stanley | 0.15% | 31,466 | $5.2M | Add +1.8% |
| VUSB Vanguard Ultra Short Bond Et | 0.15% | 102,736 | $5.1M | Add +0.5% |
| AMLP Alerian MLP ETF | 0.14% | 91,654 | $4.8M | Add +8.5% |
| TSLA Tesla Inc. | 0.14% | 12,550 | $4.7M | Add +0.6% |
| CRI Carter's Inc. | 0.13% | 126,915 | $4.5M | Add +1.4% |
| DY Dycom Industries Inc. | 0.13% | 13,322 | $4.5M | Reduce -0.1% |
| MELI MercadoLibre Inc. | 0.13% | 2,538 | $4.4M | Add +5.8% |
| MLM Martin Marietta Materials | 0.13% | 7,433 | $4.4M | Reduce -0.1% |
| PNC PNC Financial Services Group | 0.13% | 20,720 | $4.3M | Add +1.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $2K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | 56 | $2K | New |
Lines left out (2) · $86 — a value with no share or principal amount
| Security | Class | Shares | Value |
|---|---|---|---|
| DX Dynex Capital Inc. | COM | 0 | $85 |
| GTOP GS Tech Opportunities ETF | TECHN OPPOR ETF | 0 | $1 |
Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.
Total filed on the 13F, all lines: $3.4B.
Portfolio Sells Q4 2025 → Q1 2026
| PLTR Palantir Technologies Inc. Class A | Reduce -9.2% | 2.49% | −0.72 |
| NVDA Nvidia Corp. | Reduce -2.1% | 7.12% | −0.36 |
| AAPL Apple Inc. | Reduce -1.0% | 7.11% | −0.29 |
| LLY Eli Lilly & Co. | Reduce -0.9% | 2.12% | −0.29 |
| GOOG Alphabet Inc. Class C | Reduce -0.8% | 4.17% | −0.25 |
| HIMS Hims & Hers Health Inc. | Reduce -99.6% | 0.00% | −0.24 |
| ACN Accenture PLC Class A | Reduce -2.8% | 0.44% | −0.15 |
| OBDC Blue Owl Capital Corp. | Reduce -92.0% | 0.01% | −0.11 |
| CYBR Cyberark Software Ltd./Israel | Sold out | 0.00% | −0.09 |
| ABT Abbott Laboratories | Reduce -9.1% | 0.21% | −0.06 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Reduce -1.8% | 0.58% | −0.06 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -5.1% | 0.17% | −0.04 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.5% | 2.41% | −0.03 |
| ARCC Ares Capital Corp. | Reduce -13.5% | 0.12% | −0.03 |
| HRI Herc Holdings Inc. | Reduce -0.6% | 0.06% | −0.03 |
| NOW ServiceNow Inc. | Reduce -0.3% | 0.07% | −0.03 |
| ZS Zscaler Inc. | Reduce -0.9% | 0.04% | −0.02 |
| CRM Salesforce Inc. | Reduce -61.0% | 0.01% | −0.02 |
| PINS Pinterest Inc. Class A | Reduce -5.9% | 0.04% | −0.02 |
| RDVT Red Violet Inc. | Reduce -2.0% | 0.03% | −0.02 |
| RDDT Reddit Inc. Class A | Reduce -1.4% | 0.02% | −0.02 |
| XHLF Bondbloxx BBG 6 MTH US Treas | Reduce -67.1% | 0.01% | −0.01 |
| TFC Truist Financial Corp. | Reduce -0.7% | 0.37% | −0.01 |
| KBH KB Home | Reduce -1.5% | 0.21% | −0.01 |
| AKRE Akre Focus ETF | Reduce -2.1% | 0.06% | −0.01 |
| TEM Tempus AI Inc. Class A | Reduce -5.3% | 0.04% | −0.01 |
| CVS CVS Health Corp. | Reduce -5.7% | 0.08% | −0.01 |
| XYZ Block Inc. | Reduce -91.3% | 0.00% | −0.01 |
| AVTR Avantor Inc. | Reduce -35.5% | 0.01% | −0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.8% | 0.57% | −0.01 |
| CPRT Copart Inc. | Reduce -7.5% | 0.04% | −0.01 |
| MRP Millrose Properties | Reduce -18.3% | 0.04% | −0.01 |
| IBM Intl Business Machines Corp. | Reduce -1.9% | 0.04% | −0.01 |
| XONE Bondbloxx BBG 1 Dur US Treas | Sold out | 0.00% | −0.01 |
| CGUS Cap Group Core Equity | Reduce -36.2% | 0.01% | −0.01 |
| AXP American Express Co. | Reduce -1.4% | 0.04% | −0.01 |
| VIG Vanguard Dividend Apprec ETF | Reduce -5.3% | 0.16% | −0.01 |
| NKE Nike Inc. Class B | Reduce -17.8% | 0.01% | −0.01 |
| BX Blackstone Inc. | Reduce -2.0% | 0.02% | −0.01 |
| TJX TJX Companies Inc. | Reduce -28.8% | 0.02% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -1.8% | 0.21% | −0.01 |
| DIS The Walt Disney Co. | Reduce -3.4% | 0.03% | −0.01 |
| PYPL PayPal Holdings Inc. | Reduce -4.7% | 0.02% | −0.01 |
| IWF iShares Russell 1000 Growth | Reduce -1.5% | 0.06% | −0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -1.4% | 0.20% | −0.00 |
| ULTA Ulta Beauty Inc. | Reduce -51.6% | 0.00% | −0.00 |
| TSCO Tractor Supply Company | Reduce -40.0% | 0.01% | −0.00 |
| PAYX Paychex Inc. | Reduce -38.8% | 0.00% | −0.00 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.1% | 0.11% | −0.00 |
| XRAY Dentsply Sirona Inc. | Reduce -88.0% | 0.00% | −0.00 |
Portfolio Buys Q4 2025 → Q1 2026
| NVS Novartis AG-Sponsored ADR | Add +1187.8% | 0.31% | +0.29 |
| CTAS Cintas Corp. | New | 0.23% | +0.23 |
| XOM Exxon Mobil Corp. | Add +0.1% | 0.45% | +0.14 |
| COST Costco Wholesale Corp. | Add +2.0% | 0.72% | +0.13 |
| TSM Taiwan Semiconductor-SP ADR | Add +1.8% | 0.83% | +0.12 |
| RTX RTX Corp. | Add +0.2% | 1.25% | +0.11 |
| SOLS Solstice Adv Materials Inc. | Add +6.0% | 0.25% | +0.10 |
| ADBE Adobe Inc. | Add +1507.8% | 0.09% | +0.09 |
| MRVL Marvell Technology Inc. | Add +9.0% | 0.35% | +0.09 |
| PANW Palo Alto Networks Inc. | New | 0.08% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.7% | 0.30% | +0.07 |
| COPX Global X Copper Miners ETF | New | 0.07% | +0.07 |
| RIO Rio Tinto PLC-Spon ADR | Add +5.7% | 0.29% | +0.06 |
| SW Smurfit Westrock PLC | Add +3.0% | 0.67% | +0.06 |
| CVX Chevron Corp. | Add +0.6% | 0.20% | +0.06 |
| ETN Eaton Corp. PLC | Add +2.6% | 0.35% | +0.06 |
| IRM Iron Mountain Inc. | Add +0.8% | 0.23% | +0.05 |
| SCHM Schwab US Mid Cap ETF | Add +1.7% | 0.59% | +0.05 |
| NVO Novo-Nordisk A/S-Spons ADR | Add +428.3% | 0.06% | +0.04 |
| AMGN Amgen Inc. | Add +2.6% | 0.32% | +0.04 |
| ENB Enbridge Inc. | Add +0.6% | 0.25% | +0.04 |
| ET Energy Transfer LP | Add +0.0% | 0.22% | +0.04 |
| MTZ Mastec Inc. | New | 0.04% | +0.04 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +51.0% | 0.09% | +0.04 |
| NEE Nextera Energy Inc. | Add +0.6% | 0.18% | +0.03 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +0.2% | 0.58% | +0.03 |
| KO The Coca-Cola Co. | Add +0.7% | 0.24% | +0.03 |
| IEMG iShares Core MSCI Emerging | Add +166.7% | 0.05% | +0.03 |
| AMLP Alerian MLP ETF | Add +8.5% | 0.14% | +0.03 |
| IEFA iShares Core MSCI Eafe ETF | Add +72.1% | 0.06% | +0.03 |
| CSCO Cisco Systems Inc. | Add +0.1% | 0.61% | +0.03 |
| SNDK Sandisk Corp. | New | 0.03% | +0.03 |
| GEV GE Vernova Inc. | Add +4.3% | 0.07% | +0.02 |
| SCHA Schwab US Small-Cap ETF | Add +2.1% | 0.27% | +0.02 |
| MDLZ Mondelez International Inc. Class A | Add +0.7% | 0.17% | +0.02 |
| CRI Carter's Inc. | Add +1.4% | 0.13% | +0.02 |
| INTC Intel Corp. | Add +2.1% | 0.08% | +0.02 |
| DUK Duke Energy Corp. | Add +0.4% | 0.12% | +0.02 |
| KLAC KLA Corp. | New | 0.02% | +0.02 |
| BBUS JPMorgan Betabuilders US Equ | Add +45.9% | 0.05% | +0.01 |
| MGV Vngrd Mrgstr MG CP VL ETF-Ui | Add +56.7% | 0.04% | +0.01 |
| VVX V2X Inc. | Add +18.2% | 0.04% | +0.01 |
| XLE SS Energy Select Sector | Add +3.7% | 0.04% | +0.01 |
| JQUA JPMorgan US Quality Factor | Add +25.3% | 0.06% | +0.01 |
| QXO Qxo Inc. | Add +18.8% | 0.06% | +0.01 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +39.8% | 0.04% | +0.01 |
| SCHF Schwab Intl Equity ETF | Add +5.3% | 0.10% | +0.01 |
| CPNG Coupang Inc. | Add +53.2% | 0.05% | +0.01 |
| SHEL Shell PLC-ADR | New | 0.01% | +0.01 |
| FN Fabrinet | Add +5.9% | 0.05% | +0.01 |
Notes & Other Activity Q4 2025 → Q1 2026
| OXY.WS Occidental Petroleum-CW27 | *W EXP 08/03/202 | New | 56 | $2K |
| DX Dynex Capital Inc. | COM | New | 0 | $85 |
| GTOP GS Tech Opportunities ETF | TECHN OPPOR ETF | New | 0 | $1 |
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 |