VIRGINIA INVESTMENT COUNSELORS INC
13F-HR, 2000-10-06
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

FORM 13F

FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: 09/30/00

Check here if Amendment [  ] ; Amendment Number:__________
This Amendment (Check only one):[  ] is a restatement.
                                [  ] adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:     Virginia Investment Counselors, Inc.
Address:  999 Waterside Drive, Suite 1925
               Norfolk, VA  23510-3307

13F File Number:  851062

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
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 Report on Behalf of Reporting manager:

Name:    John C. Benedict
Title:      Treasurer
Phone:   757-623-2491
Signature, Place, and Date of Signing:

John C. Benedict        Norfolk, Virginia         10/05/00

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.

_______________________________________________

FORM 13F SUMMARY PAGE

Report Summary:

Number of Other Included Managers:   0

Form 13F Information Table Entry Total: 248

Form 13F Information Table Value Total: 563527


<TABLE>
<S>                           <C>           <C>      <C>    <C>       <C> <C>     <C>         <C>        <C>   <C>     <C>
                                                     VALUE  SHARES/                           OTHER      VOTING AUTHORITY
NAME OF ISSUER                TITLE OF CLASSCUSIP    (x$1000PRN AMT   SOLESHRD. V SHRD. OTHR  MANAGERS    SOLE  SHARED NONE

AT&T                               COM      001957109   2304  79196SH  X                                  79196
AT&T                               COM      001957208    235  13080SH  X                                  13080
ABBOTT LABORATORIES                COM      002824100   4411  92404SH  X                                  92404
AEGIS COMMUNICATIONS GROUP         COM      00760B105     51  50000SH  X                                  50000
AGILENT TECHNOLOGIES INC           COM      00846U101    713  14516SH  X                                  14516
ALCOA INC                          COM      013817101    710  28020SH  X                                  28020
ALLSTATE CORP                      COM      020002101    231   6752SH  X                                   6752
AMERICA ONLINE INC                 COM      02364J104    202   3826SH  X                                   3826
AMERICAN ELECTRIC POWER            COM      025537101    434  10991SH  X                                  10991
AMERICAN EXPRESS                   COM      025816109    450   7410SH  X                                   7410
AMERICAN GREETINGS CL A            COM      026375105    211  11600SH  X                                  11600
AMERICAN HOME PRODUCTS             COM      026609107   5509  97531SH  X                                  97531
AMERICAN INTL GROUP INC            COM      026874107   1158  12094SH  X                                  12094
AMGEN                              COM      031162100   2743  39300SH  X                                  39300
AMSOUTH BANCORP                    COM      032165102    146  11610SH  X                                  11610
ANADARKO PETROLEUM CORP            COM      032511107    201   3014SH  X                                   3014
ANHEUSER-BUSCH COS INC             COM      035229103   2042  48364SH  X                                  48364
APPLIED MATERIALS                  COM      038222105   3757  63884SH  X                                  63884
ASSOCIATED ESTATES REALTY CORP     COM      045604105    218  27200SH  X                                  27200
AUDRE RECOGNITION SYSTEMS INC      COM      050904101      0  81081SH  X                                  81081
AUTOMATIC DATA PROCESSING          COM      053015103   5850  87455SH  X                                  87455
AVALONBAY COMMUNITIES INC COM      COM      053484101    431   9070SH  X                                   9070
B B & T CORP                       COM      054937107   2625  87053SH  X                                  87053
BP AMOCO                           COM      055622104   6043 114048SH  X                                 114048
BMC SOFTWARE INC                   COM      055921100    488  25100SH  X                                  25100
BANK OF AMERICA COPR               COM      060505104   5008  95452SH  X                                  95452
BANK OF HAMPTON ROADS              COM      060990108    472  44943SH  X                                  44943
BANK ONE CORP                      COM      06423A103   1574  41352SH  X                                  41352
BAXTER INTL INC                    COM      071813109    253   3166SH  X                                   3166
BAYER A G SPONSORED ADR            COM      072730302    282   7600SH  X                                   7600
BEAR STEARNS COS                   COM      073902108   4743  75041SH  X                                  75041
BECTON DICKINSON                   COM      075887109    920  34550SH  X                                  34550
BELLSOUTH CORP                     COM      079860102   3405  84267SH  X                                  84267
BERGEN BRUNSWIG CORP               COM      083739102    469  39574SH  X                                  39574
BEST FOODS                         COM      08658U101    423   5836SH  X                                   5836
BOEING CO                          COM      097023105   1495  23695SH  X                                  23695
BRISTOL MYERS SQUIBB COMPANY       COM      110122108   9515 164721SH  X                                 164721
BROWN-FORMAN INC CL B              COM      115637209    425   7800SH  X                                   7800
BURLINGTON NORTHERN SANTA FE       COM      12189T104   3445 160028SH  X                                 160028
CIGNA CORP                         COM      125509109   4870  46896SH  X                                  46896
C P & L ENERGY INC                 COM      12614C106    260   6257SH  X                                   6257
CSX CORPORATION                    COM      126408103    366  16872SH  X                                  16872
CANADIAN PACIFIC LTD NEW           COM      135923100   3500 133950SH  X                                 133950
CANADIAN NATIONAL RAILWAY CO       COM      136375102   2115  72043SH  X                                  72043
CAPITAL ONE FINANCIAL CORP         COM      14040H105    260   3720SH  X                                   3720
CARDINAL HEALTH INC                COM      14149Y108   6356  71996SH  X                                  71996
CATERPILLAR INC                    COM      149123101   1114  36028SH  X                                  36028
CENIT BANCORP INC                  COM      15131W109    408  27791SH  X                                  27791
CHARLES & COLVARD LTD              COM      159765106   1678 430920SH  X                                 430920
CHASE MANHATTAN CORP NEW           COM      16161A108   4699 102196SH  X                                 102196
CHEVRON CORP                       COM      166751107   1831  21463SH  X                                  21463
CIRCUIT CITY                       COM      172737108    578  24890SH  X                                  24890
CISCO SYSTEMS INC                  COM      17275R102   8821 159382SH  X                                 159382
CITIGROUP INC                      COM      172967101   9456 175362SH  X                                 175362
CLAYTON HOMES                      COM      184190106    147  14596SH  X                                  14596
CLOROX CORP                        COM      189054109    286   7256SH  X                                   7256
COASTAL CORP                       COM      190441105   6802  91815SH  X                                  91815
COCA COLA BOTTLING CO              COM      191098102    315   7525SH  X                                   7525
COCA-COLA                          COM      191216100  28858 523375SH  X                                 523375
COLGATE-PALMOLIVE                  COM      194162103   1006  21340SH  X                                  21340
COLUMBIA ENERGY GROUP (FORMERL     COM      197648108    269   3803SH  X                                   3803
COMCAST CLASS A                    COM      200300200    406  10020SH  X                                  10020
COMPAQ COMPUTER CORP               COM      204493100   4426 160397SH  X                                 160397
COMPUTER SCIENCES CORP             COM      205363104   5179  69605SH  X                                  69605
COMPUWARE CORP                     COM      205638109   1417 168325SH  X                                 168325
CONAGRA INC                        COM      205887102   3978 198521SH  X                                 198521
CONSOLIDATED EDISON INC            COM      209115104   2497  73403SH  X                                  73403
COOPER CAMERON CORP                COM      216640102   1598  21775SH  X                                  21775
CORIXA CORP                        COM      21887F100    981  19500SH  X                                  19500
CORNING INC                        COM      219350105    817   2750SH  X                                   2750
DTE ENERGY COMPANY                 COM      233331107    279   7200SH  X                                   7200
DEERE & COMPANY                    COM      244199105    397  11875SH  X                                  11875
DELL COMPUTER                      COM      247025109   2789  90890SH  X                                  90890
DELPHI AUTOMOTIVE SYSTEMS          COM      247126105    155  10064SH  X                                  10064
DELTA AIR LINES                    COM      247361108   2246  50740SH  X                                  50740
DEUTSCHE BANK A G SPSD ADR         COM      251525309    379   4600SH  X                                   4600
DIEBOLD INC                        COM      253651103   1197  44450SH  X                                  44450
DISNEY WALT CO                     COM      254687106   1980  51806SH  X                                  51806
DOLLAR TREE STORES                 COM      256747106    268   6644SH  X                                   6644
DOMINION RESOURCES INC/VA          COM      25746U109   2069  35669SH  X                                  35669
DONNELLEY R R & SONS               COM      257867101    661  27050SH  X                                  27050
DOW CHEMICAL                       COM      260543103    556  22436SH  X                                  22436
DU PONT E I DE NEMOURS             COM      263534109   2922  71889SH  X                                  71889
DUKE ENERGY CORP                   COM      264399106   2029  23585SH  X                                  23585
EMC CORPORATION                    COM      268648102   4136  41435SH  X                                  41435
EASTMAN KODAK                      COM      277461109   3390  84156SH  X                                  84156
ECOLAB INC                         COM      278865100    467  12900SH  X                                  12900
EDWARDS  A G & SONS                COM      281760108    238   4521SH  X                                   4521
EFUNDS CORP                        COM      28224R101     78  10900SH  X                                  10900
EMERSON ELECTRIC                   COM      291011104   1385  20719SH  X                                  20719
ENERGIZER HOLDINGS INC W/I         COM      29266R108   4374 178409SH  X                                 178409
ENHANCE FINANCIAL SERVICES GRO     COM      293310108    136  10550SH  X                                  10550
ENRON CORP                         COM      293561106    454   5174SH  X                                   5174
EQUITY INC FD UNT RE INC FD 94     COM      294700703    498   3200SH  X                                   3200
EXTR@CT INC                        COM      302258108     13  50116SH  X                                  50116
EXXON MOBIL CORPORATION            COM      30231G102  25913 290272SH  X                                 290272
FPL GROUP                          COM      302571104    352   5319SH  X                                   5319
FANNIE MAE                         COM      313586109   1050  14682SH  X                                  14682
FIRST UNION CORP                   COM      337358105    567  17615SH  X                                  17615
FIRST VIRGINIA BANKSHARES          COM      337477103    755  17672SH  X                                  17672
FORD MOTOR COMPANY                 COM      345370860   4858 186957SH  X                                 186957
FRANKLIN COVEY CO                  COM      353469109    149  20325SH  X                                  20325
FRANKLIN SELECT REALTY TRUST       COM      354638108      5  16557SH  X                                  16557
GANNETT INC                        COM      364730101   1363  25575SH  X                                  25575
GARTNER GROUP INC CL B             COM      366651107    223  19500SH  X                                  19500
GENERAL  DYNAMICS CORP             COM      369550108   7427 118311SH  X                                 118311
GENERAL ELECTRIC                   COM      369604103  43121 745848SH  X                                 745848
GENERAL MILLS                      COM      370334104    228   6400SH  X                                   6400
GENERAL MOTORS CORP                COM      370442105    655   9995SH  X                                   9995
GENUINE PARTS                      COM      372460105    239  12600SH  X                                  12600
GILLETTE COMPANY                   COM      375766102    350  11347SH  X                                  11347
GRIFFIN LAND & NURSERIES           COM      398231100    251  19900SH  X                                  19900
GUARANTY FINANCIAL CORP VA         COM      401086103    160  21700SH  X                                  21700
HALLIBURTON CO                     COM      406216101    385   7850SH  X                                   7850
HARBOR FLORIDA BANCSHARES          COM      411901101    156  13000SH  X                                  13000
HARTFORD FINL SV GROUP INC         COM      416515104   6500  89202SH  X                                  89202
HERITAGE BANKSHARES INC            COM      42721M101    473  39862SH  X                                  39862
HEWLETT-PACKARD                    COM      428236103   9761  99760SH  X                                  99760
HIGHWOODS PROPERTIES INC           COM      431284108   1388  58799SH  X                                  58799
HIRSCH INTERNATIONAL CORP A        COM      433550100     45  34300SH  X                                  34300
HOME DEPOT INC                     COM      437076102   5494 103341SH  X                                 103341
HONEYWELL INTERNATIONAL            COM      438516106    974  27323SH  X                                  27323
HOOKER FURNITURE CORP              COM      439038100    374  41600SH  X                                  41600
HOUSEHOLD INTERNATIONAL            COM      441815107    232   4111SH  X                                   4111
HUNTINGTON BANCSHARES              COM      446150104   2095 143040SH  X                                 143040
ITT INDUSTRIES INC                 COM      450911102   1554  48076SH  X                                  48076
INCO LTD CONV S-D                SR NT CV   453258AH8     18 20000PRN  X                                  20000
INTEL CORP                         COM      458140100  27837 670456SH  X                                 670456
INTERNATIONAL BUSINESS MACHINE     COM      459200101   9301  82470SH  X                                  82470
INTERNATIONAL PAPER                COM      460146103   2027  70786SH  X                                  70786
JDS UNIPHASE CORP                  COM      46612J101    429   4555SH  X                                   4555
JEFFERSON-PILOT                    COM      475070108   2139  31534SH  X                                  31534
JOHNSON & JOHNSON                  COM      478160104   1734  18486SH  X                                  18486
KELLOGG COMPANY                    COM      487836108    217   9000SH  X                                   9000
KIMBERLY CLARK CORP                COM      494368103    391   7036SH  X                                   7036
ELI LILLY                          COM      532457108   1333  16489SH  X                                  16489
LITTON INDUSTRIES                  COM      538021106    731  16650SH  X                                  16650
LOCKHEED MARTIN CORP               COM      539830109    914  27604SH  X                                  27604
LOEWS CORP                         COM      540424108    200   2425SH  X                                   2425
LUCENT TECHNOLOGIES INC            COM      549463107   1752  57227SH  X                                  57227
MBNA CORP                          COM      55262L100    847  21979SH  X                                  21979
MFS INTERMEDIATE INCOME TR SBI     COM      55273C107     77  12402SH  X                                  12402
MARKEL CORP                        COM      570535104   1794  11801SH  X                                  11801
MARSH & MCLENNAN COS INC           COM      571748102   1359  10243SH  X                                  10243
MAY DEPT STORES COMPANY            COM      577778103    203   9945SH  X                                   9945
MCDONALDS CORP                     COM      580135101   1097  36310SH  X                                  36310
MCGRAW HILL INC                    COM      580645109   4295  67480SH  X                                  67480
MEDTRONIC INC                      COM      585055106   1757  33971SH  X                                  33971
MEDI SCIENCE                       COM      585901101     17  48000SH  X                                  48000
MERCK & COMPANY                    COM      589331107  13838 186182SH  X                                 186182
MERRILL LYNCH                      COM      590188108    211   3200SH  X                                   3200
MICROSOFT CORP                     COM      594918104   3698  61473SH  X                                  61473
MINNESOTA MINING & MFG             COM      604059105   1214  13397SH  X                                  13397
MORGAN JP & CO                     COM      616880100   1646  10105SH  X                                  10105
MORGAN STANLEY DW DISCOVER COM     COM      617446448    462   5033SH  X                                   5033
MOTOROLA                           COM      620076109   3138 106328SH  X                                 106328
MYND CORP                          COM      628551103    359  26550SH  X                                  26550
NABISCO GROUP HOLDINGS             COM      62952P102   1309  45850SH  X                                  45850
NASDAQ-100 SHARES                  COM      631100104    494   5540SH  X                                   5540
NESTLE S A SPNSRD ADR RPSTG RE     COM      641069406   1368  13175SH  X                                  13175
NOKIA CORP ADR A                   COM      654902204   2264  56575SH  X                                  56575
NORFOLK SOUTHERN CORP              COM      655844108   3020 207817SH  X                                 207817
NUCOR CORP                         COM      670346105   2042  66975SH  X                                  66975
ORACLE SYSTEMS CORP                COM      68389X105    462   5802SH  X                                   5802
PNC BANK CORP                      COM      693475105    357   5488SH  X                                   5488
PPG INDUSTRIES INC                 COM      693506107    610  15400SH  X                                  15400
PEPSICO                            COM      713448108   5062 109951SH  X                                 109951
PFIZER                             COM      717081103   5255 117181SH  X                                 117181
PHARMACIA CORPORATION              COM      71713U102   1921  31886SH  X                                  31886
PHILIP MORRIS                      COM      718154107   1939  65614SH  X                                  65614
PHILLIPS PETROLEUM                 COM      718507106   1426  22775SH  X                                  22775
PILGRIM PRIME RATE TRUST           COM      72146W103    104  12000SH  X                                  12000
PROCTER & GAMBLE                   COM      742718109   2457  36672SH  X                                  36672
PUTNAM MANAGED MUNI INCM TST       COM      746823103    131  14400SH  X                                  14400
QUAKER OATS                        COM      747402105    418   5286SH  X                                   5286
QUALCOMM INC                       COM      747525103    411   5755SH  X                                   5755
QWEST COMMUNICATIONS INTL INC      COM      749121109   2126  44289SH  X                                  44289
RAYONIER INC                       COM      754907103    343   9521SH  X                                   9521
RAYTHEON CO                        COM      755111408   4412 154848SH  X                                 154848
RELIANT ENERGY INC                 COM      75952J108    442   9475SH  X                                   9475
RESOURCE BANKSHARES CORP VA        COM      76121R104    187  19190SH  X                                  19190
ROHM & HAAS CO                     COM      775371107    995  34210SH  X                                  34210
ROWE FURNITURE CORP                COM      779528108     68  22000SH  X                                  22000
ROYAL DUTCH PETROLEUM GLDR 5       COM      780257804   5380  89727SH  X                                  89727
SBC COMMUNICATIONS INC             COM      78387G103   4658  93371SH  X                                  93371
STANDARD & POORS DEPOSITORY        COM      78462F103   1099   7715SH  X                                   7715
THE ST JOE COMPANY                 COM      790148100   3815 138985SH  X                                 138985
SCANA CORP NEW                     COM      80589M102    525  17057SH  X                                  17057
SCHERING-PLOUGH                    COM      806605101   1035  22186SH  X                                  22186
SCHLUMBERGER LTD                   COM      806857108    615   7549SH  X                                   7549
SCHULMAN (A) INC                   COM      808194104    120  10875SH  X                                  10875
SEARS ROEBUCK & CO                 COM      812387108   4860 151750SH  X                                 151750
SELECT COMFORT CORPORATION         COM      81616X103     97  70550SH  X                                  70550
SERVICE CORP INTL                  COM      817565104    425 187447SH  X                                 187447
SHELL TRANS & TRADING PLC NY S     COM      822703609    208   4250SH  X                                   4250
SHORE FINANCIAL CORP               COM      82511E109     83  11500SH  X                                  11500
SIGMA ALDRICH CORP                 COM      826552101    434  12970SH  X                                  12970
SMITHFIELD FOODS                   COM      832248108   4125 156449SH  X                                 156449
SMITHKLINE BEECHAM PLC ADR ORD     COM      832378301    996  14484SH  X                                  14484
SONOCO PRODUCTS                    COM      835495102    364  20466SH  X                                  20466
SOUTHDOWN INC                      COM      841297104    840  11783SH  X                                  11783
SOUTHERN COMPANY                   COM      842587107    223   6880SH  X                                   6880
SOUTHTRUST CORP                    COM      844730101    682  21662SH  X                                  21662
SPRINT CORP                        COM      852061100    237   8003SH  X                                   8003
SUN MICROSYSTEMS                   COM      866810104   2230  19085SH  X                                  19085
SUNTRUST BANKS INC                 COM      867914103   3611  72484SH  X                                  72484
SYSCO CORP                         COM      871829107    246   5300SH  X                                   5300
TECO ENERGY                        COM      872375100    260   9005SH  X                                   9005
TELEFONICA DE ESPANA ADS           COM      879382208    483   8139SH  X                                   8139
TELLABS INC                        COM      879664100   2537  52975SH  X                                  52975
TEMPLETON GLOBAL GOVT INCOME T     COM      879929107     97  16752SH  X                                  16752
TEMPLETON DRAGON FUND              COM      88018T101    211  26150SH  X                                  26150
TEMPLETON GLOBAL INCOME            COM      880198106    118  19800SH  X                                  19800
TEXACO                             COM      881694103   1286  24473SH  X                                  24473
TEXAS INSTRUMENTS                  COM      882508104    897  18950SH  X                                  18950
THERMO ELECTRON CORP               COM      883556102    706  27050SH  X                                  27050
THERMO ELECTRON CORP             SR NT CV   883556AH5    180210000PRN  X                                 210000
TIME WARNER INC                    COM      887315109    312   4000SH  X                                   4000
TOTAL SA SPONSORED ADR             COM      89151E109    211   2856SH  X                                   2856
TREDEGAR INDUSTRIES INC            COM      894650100    863  49825SH  X                                  49825
TYCO INTERNATIONAL LTD NEW         COM      902124106   7755 149475SH  X                                 149475
UST INC                            COM      902911106   1512  66325SH  X                                  66325
ULTRA SCAN CORP                    COM      9039009A8     50  50000SH  X                                  50000
UNION PACIFIC                      COM      907818108    444  11285SH  X                                  11285
UNITED DOMINION REALTY TR          COM      910197102   5095 471749SH  X                                 471749
UNITED MOBILE HOMES INC            COM      911024107    762  80875SH  X                                  80875
US CELLULAR CORP                   COM      911684108   5563  78530SH  X                                  78530
UNITED TECHNOLOGIES                COM      913017109   1147  16450SH  X                                  16450
VERIZON COMMUNICATIONS             COM      92343V104  10079 207767SH  X                                 207767
VIACOM INC CL A                    COM      925524308    464   7958SH  X                                   7958
VISTEON CORP                       COM      92839U107    256  23036SH  X                                  23036
VODAFONE GROUP PLC-SP ADR          COM      92857W100    711  19185SH  X                                  19185
WLR FOODS                          COM      929286102    529  38700SH  X                                  38700
WACHOVIA CORP                      COM      929771103   3075  54219SH  X                                  54219
WAL-MART STORES INC                COM      931142103   1020  21069SH  X                                  21069
WASHINGTON MUTUAL                  COM      939322103   5006 125200SH  X                                 125200
WASHINGTON REIT SBI                COM      939653101   2084 104200SH  X                                 104200
WASTE MANAGEMENT INC               COM      94106L109    516  29787SH  X                                  29787
WATSON PHARMACEUTICALS INC         COM      942683103   7266 111105SH  X                                 111105
WELLS FARGO CO                     COM      949746101    688  14975SH  X                                  14975
WESCAM INC                         COM      950905109    990 213350SH  X                                 213350
WIRELESS TELECOM GROUP INC         COM      976524108     93  36200SH  X                                  36200
WORLDCOM INC                       COM      98157D106   4195 137483SH  X                                 137483
XCEL ENERGY INC                    COM      98389B100   4478 161561SH  X                                 161561
XEROX                              COM      984121103    299  19920SH  X                                  19920
YORK GROUP INC                     COM      986632107    107  17700SH  X                                  17700
DAIMLER-CHRYSLER AG                COM      D1668R123    335   7520SH  X                                   7520
GLOBAL CROSSING LTD                COM      G3921A100    202   6575SH  X                                   6575


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