UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the calendar Year or Quarter Ended: March 31, 1999
Check here is Amendment [ ]; Amendment Number:
This Amendment (check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Investment Counselors Inc.
Address: 1010 Market Street
Suite 1540
St. Louis, MO 63101
13F File Number:
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person signing this Reoprt on behalf of Reporting Manager:
Name: Gordon A. Johnson
Title: President & Chief Financial Officer
Phone: 314-421-3080
Signature, Place and Date of Signing:
Gordon A. Johnson St. Louis, Missouri April 1, 1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT,
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 92
Form 13F Information Table Value Total: $466,982
List of Other Included Managers:
No. 13F File Number Name
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FORM 13F INFROMATION TABLE VOTING AUTHORITY
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER
NAME OF ISSUER TITLE OF CLAS CUSIP (x$1000PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
Abbott Labs COM 002824100 8401 179450SH SOLE 179450
American Express CoCOM 025816109 9361 79500SH SOLE 79500
American Heritage LCOM 026522102 1203 51600SH SOLE 51600
American Intl GroupCOM 026874107 10477 86853SH SOLE 86853
Ameritech Corp COM 030954101 9523 165260SH SOLE 165260
Anchor Bancorp WiscCOM 032839102 538 35000SH SOLE 35000
AptarGroup Inc COM 038336103 1154 44400SH SOLE 44400
AT&T Corp COM 001957109 7518 94200SH SOLE 94200
BankAmerica Corp COM 06605F102 10566 149600SH SOLE 149600
Beckman Coulter IncCOM 075811109 1319 29800SH SOLE 29800
Becton Dickinson COM 075887109 12432 324500SH SOLE 324500
BellSouth Corp COM 079860102 6448 160940SH SOLE 160940
Bergen Brunswig CorCOM 083739102 1436 71800SH SOLE 71800
Bindley Western IndCOM 090324104 1465 51300SH SOLE 51300
Blanch (EW) HoldingCOM 093210102 1827 34800SH SOLE 34800
BP Amoco Plc Spon ACOM 055622104 9750 96540SH SOLE 96540
Bristol-Myers SquibCOM 110122108 8554 133400SH SOLE 133400
Canandaigua Brands COM 137219200 1078 21400SH SOLE 21400
Cardinal Health IncCOM 14149Y108 10572 160175SH SOLE 160175
Carlisle Companies COM 142339100 1575 33700SH SOLE 33700
Central Newspapers COM 154647101 1008 32400SH SOLE 32400
Chase Manhattan COM 16161A108 10782 132500SH SOLE 132500
Cisco Systems COM 17275R102 12715 116050SH SOLE 116050
City National Corp COM 178566105 1164 37700SH SOLE 37700
Clorox Co COM 189054109 8449 72100SH SOLE 72100
COMAIR Holdings IncCOM 199789108 1595 67500SH SOLE 67500
Compaq Computer COM 204493100 7890 249000SH SOLE 249000
Costco Companies COM 22160Q102 721 7879SH SOLE 7879
Dallas SemiconductoCOM 235204104 1557 40300SH SOLE 40300
Dell Computer Corp COM 247025109 4345 106300SH SOLE 106300
Dycom Industries COM 267475101 2575 59200SH SOLE 59200
Ecolab Inc COM 278865100 8694 244900SH SOLE 244900
Electronic Arts IncCOM 285512109 1454 30600SH SOLE 30600
Emerson Electric CoCOM 291011104 3785 71500SH SOLE 71500
Ethan Allen InterioCOM 297602104 665 16000SH SOLE 16000
Fannie Mae COM 313586109 8019 115800SH SOLE 115800
Fidelity Natl FinclCOM 316326107 590 39358SH SOLE 39358
First Union Corp COM 337358105 9982 186800SH SOLE 186800
Fleet Financial GroCOM 338915101 6125 162800SH SOLE 162800
Florida Rock IndustCOM 341140101 1382 40500SH SOLE 40500
Gap Inc COM 364760108 12024 178625SH SOLE 178625
General Electric CoCOM 369604103 1384 12510SH SOLE 12510
Gentex Corporation COM 371901109 1059 49100SH SOLE 49100
Hannaford Brothers COM 410550107 963 21200SH SOLE 21200
Helen of Troy Ltd COM G4388N106 1321 102100SH SOLE 102100
Henry (Jack) & AssoCOM 426281101 1591 43300SH SOLE 43300
Houghton Mifflin CoCOM 441560109 1322 28200SH SOLE 28200
IBM Corp. COM 459200101 1064 6000SH SOLE 6000
InaCom Corp COM 45323G109 549 70800SH SOLE 70800
Ingersoll-Rand Co COM 456866102 7608 153300SH SOLE 153300
Insituform TechnoloCOM 457667103 1353 77300SH SOLE 77300
Intel Corp COM 458140100 10568 88900SH SOLE 88900
Jacobs Engineering COM 469814107 1305 33100SH SOLE 33100
Jones Pharma Inc COM 480236108 2940 84600SH SOLE 84600
Lowe's Companies COM 548661107 13591 224650SH SOLE 224650
Lucent TechnologiesCOM 549463107 12085 111900SH SOLE 111900
MAF Bancorp Inc COM 55261R108 1421 63850SH SOLE 63850
Masco Corporation COM 574599106 7034 249000SH SOLE 249000
Maytag Corp COM 578592107 7909 131000SH SOLE 131000
MBIA Inc COM 55262C100 4437 76500SH SOLE 76500
McDonald's Corp COM 580135101 11704 258300SH SOLE 258300
MCI WorldCom Inc COM 55268B106 15862 179100SH SOLE 179100
Medtronic Inc COM 585055106 10594 147400SH SOLE 147400
Men's Wearhouse IncCOM 587118100 2134 73900SH SOLE 73900
MICROS Systems Inc COM 594901100 2043 61900SH SOLE 61900
Microsoft Corp COM 594918104 13354 149000SH SOLE 149000
Mohawk Industries COM 608190104 1355 45150SH SOLE 45150
Monsanto Co COM 611662107 8246 179500SH SOLE 179500
Morgan Stanley DeanCOM 617446448 11113 111200SH SOLE 111200
National Computer SCOM 635519101 1051 42900SH SOLE 42900
Oshkosh B'Gosh COM 688222207 520 29400SH SOLE 29400
Patterson Dental CoCOM 703412106 2095 48450SH SOLE 48450
PepsiCo Inc COM 713448108 9524 243040SH SOLE 243040
Priority HealthcareCOM 74264T102 1040 22980SH SOLE 22980
Procter & Gamble COM 742718109 11351 115900SH SOLE 115900
Provident FinancialCOM 743866105 1523 39700SH SOLE 39700
Safeway Inc COM 786514208 8754 170600SH SOLE 170600
Scotts Company COM 810186106 1958 52400SH SOLE 52400
Semtech Corp COM 816850101 1855 58200SH SOLE 58200
Sovereign Bancorp ICOM 845905108 1042 85100SH SOLE 85100
Spartech Corp COM 847220209 1603 77700SH SOLE 77700
STERIS Corporation COM 859152100 1174 44100SH SOLE 44100
Sun Microsystems InCOM 866810104 14932 119400SH SOLE 119400
Symantec Corp COM 871503108 1055 62300SH SOLE 62300
Symbol TechnologiesCOM 871508107 1006 22350SH SOLE 22350
Tellabs Inc COM 879664100 8837 90400SH SOLE 90400
Timberland Company COM 887100105 1627 25800SH SOLE 25800
Tredegar IndustriesCOM 894650100 1160 37500SH SOLE 37500
Valassis Comm COM 918866104 2049 39600SH SOLE 39600
Wal-Mart Stores COM 931142103 10984 119150SH SOLE 119150
Watson PharmaceuticCOM 942683103 3932 89100SH SOLE 89100
Webster Financial CCOM 947890109 1282 44400SH SOLE 44400
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