Salem Investment Favors Tech, Sells Stake in Defensive ETFs
Salem Investment Counselors Inc's portfolio saw significant changes as of June 2026. The firm increased holdings in several Vanguard funds and Technology stocks while reducing exposure to certain sectors.
As of Salem Investment Counselors Inc's latest filing dated June 30, 2026, the investment advisor's portfolio has undergone notable changes during the quarter. The total portfolio value stands at $3.99 billion.
The firm demonstrated a clear preference for Technology stocks in its buying activity this quarter. APPLE INC (AAPL) remains a core holding, accounting for 6.7% of the portfolio value. Other significant purchases include positions in several Vanguard funds focused on ETFs and specific sectors.
MICRON TECHNOLOGY INC (MU), another Technology heavy, saw its stake reduced by 13.33%, now representing 5.1% allocation with a slight decrease in shares held. MICROSOFT CORP (MSFT) also experienced share reduction (-1.59%) and value decrease (-$20 million), impacting its portfolio percentage down by 3.68%.
In the Technology sector, NVIDIA CORPORATION (NVDA) allocation decreased slightly from 6.81% to 5.97%, despite a small share increase (+0.13%). Similarly, ADVANCED MICRO DEVICES INC (AMD) shares fell by 0.5% and its portfolio percentage dropped from 3.77% to 3.26%. The Communication Services sector also saw a Technology player (ALPHABET INC (GOOG)) with reduced allocation.
Conversely, the firm significantly boosted its exposure to certain Vanguard funds this quarter. VANGUARD WORLD FD (MGK), a fund company holding, increased shares by 399.29% and now accounts for 0.59% of the portfolio value. Similarly, VANGUARD INDEX FDS (VO) saw its stake grow by 301.91%, representing a substantial increase in allocation to 0.56%. These moves suggest confidence in these specific fund holdings.
The investor also sold significant positions this quarter, particularly from Consumer Defensive ETFs and other sector funds. FLOWERS FOODS INC (FLO) experienced a massive reduction of 96.47% in its stake due to large share sales (-253k%). Other notable exits include reductions from PETROLEO BRASILEIRO S A (PBR), down by 7.4%, and GRAPHIC PACKAGING HLDG CO (GPK) which saw a significant decrease (-98%) in its allocation.