UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: 03/31/00
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 05/12/00
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: 249
Form 13F Information Table Value Total: 614871
<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 SOLE SHRD. VSHRD. OTHR MANAGERS SOLE SHARED NONE
AFLAC INC COM 001055102 217 4757SH X 4757
AT&T COM 001957109 4324 77275SH X 77275
AT&T LIBERTY MEDIA A COM 001957208 508 8544SH X 8544
ABBOTT LABORATORIES COM 002824100 3480 98679SH X 98679
ADEPTEC INC COM 00651F108 245 6200SH X 6200
AEGIS COMMUNICATIONS GROUP COM 00760B105 71 50000SH X 50000
AEGON NV AMERICAN REG SHR COM 007924103 316 3820SH X 3820
ALCOA INC COM 013817101 955 13610SH X 13610
AMERICA ONLINE INC COM 02364J104 318 4726SH X 4726
AMERICAN ELECTRIC POWER COM 025537101 235 7918SH X 7918
AMERICAN EXPRESS COM 025816109 770 5170SH X 5170
AMERICAN HOME PRODUCTS COM 026609107 5584 103803SH X 103803
AMERICAN INTL GROUP INC COM 026874107 917 8368SH X 8368
AMGEN COM 031162100 2801 45600SH X 45600
AMSOUTH BANCORP COM 032165102 182 12110SH X 12110
ANHEUSER-BUSCH COS INC COM 035229103 1444 23332SH X 23332
APPLE COMPUTER COM 037833100 230 1700SH X 1700
ASSOCIATED ESTATES REALTY CORP COM 045604105 145 18000SH X 18000
ATLANTIC RICHFIELD COM 048825103 1342 15777SH X 15777
AUDRE RECOGNITION SYSTEMS INC COM 050904101 16 81081SH X 81081
AUTOMATIC DATA PROCESSING COM 053015103 7043 146155SH X 146155
VALONBAY COMMUNITIES INC COM S COM 053484101 356 9761SH X 9761
B B & T CORP COM 054937107 3530 125753SH X 125753
BP AMOCO COM 055622104 4800 90125SH X 90125
BMC SOFTWARE INC COM 055921100 5431 110340SH X 110340
BANK OF AMERICA COPR COM 060505104 4992 95083SH X 95083
BANK OF HAMPTON ROADS COM 060990108 589 45227SH X 45227
BANK ONE CORP COM 06423A103 5210 151511SH X 151511
BASSETT FURNITURE INDUSTRIES COM 070203104 232 16606SH X 16606
BAYER A G SPONSORED ADR COM 072730302 342 7600SH X 7600
BEAR STEARNS COS COM 073902108 6130 134380SH X 134380
BECTON DICKINSON COM 075887109 925 34750SH X 34750
BELL ATLANTIC CORP COM 077853109 8475 138923SH X 138923
BELLSOUTH CORP COM 079860102 4068 86733SH X 86733
BERGEN BRUNSWIG CORP COM 083739102 213 32074SH X 32074
BEST FOODS COM 08658U101 424 9036SH X 9036
BIOCRYST PHARM INC COM 09058V103 1827 66889SH X 66889
BOEING CO COM 097023105 951 24997SH X 24997
BRISTOL MYERS SQUIBB COMPANY COM 110122108 10210 175805SH X 175805
BROWN-FORMAN INC CL B COM 115637209 454 8400SH X 8400
BURLINGTON NORTHERN SANTA FE COM 12189T104 3828 167843SH X 167843
CBS CORP COM 12490K107 338 5950SH X 5950
CIGNA CORP COM 125509109 4015 52485SH X 52485
CSX CORPORATION COM 126408103 299 12804SH X 12804
CANADIAN PACIFIC LTD NEW COM 135923100 3030 137800SH X 137800
CANADIAN NATIONAL RAILWAY CO COM 136375102 2333 87668SH X 87668
CAPITAL ONE FINANCIAL CORP COM 14040H105 212 4400SH X 4400
CARDINAL HEALTH INC COM 14149Y108 3718 81216SH X 81216
CAROLINA POWER & LIGHT COM 144141108 250 7835SH X 7835
CATERPILLAR INC COM 149123101 1700 42813SH X 42813
CHASE MANHATTAN CORP NEW COM 16161A108 6615 76042SH X 76042
CHESAPEAKE CORP COM 165159104 233 7850SH X 7850
CHEVRON CORP COM 166751107 2623 28405SH X 28405
CIRCUIT CITY COM 172737108 558 9190SH X 9190
CISCO SYSTEMS INC COM 17275R102 15450 199776SH X 199776
CITIGROUP INC COM 172967101 4006 67012SH X 67012
CLAYTON HOMES COM 184190106 174 17095SH X 17095
CLOROX CORP COM 189054109 247 7456SH X 7456
COASTAL CORP COM 190441105 7090 147505SH X 147505
COCA COLA BOTTLING CO COM 191098102 425 8025SH X 8025
COCA-COLA COM 191216100 26010 554172SH X 554172
COLGATE-PALMOLIVE COM 194162103 1201 21340SH X 21340
OLUMBIA ENERGY GROUP (FORMERLY COM 197648108 202 3403SH X 3403
COMCAST CLASS A COM 200300200 485 11120SH X 11120
COMPAQ COMPUTER CORP COM 204493100 5148 192706SH X 192706
COMPUTER ASSOC INTL COM 204912109 3843 64825SH X 64825
COMPUTER SCIENCES CORP COM 205363104 6280 78825SH X 78825
COMPUWARE CORP COM 205638109 3882 185425SH X 185425
CONAGRA INC COM 205887102 3541 193449SH X 193449
CONSOLIDATED EDISON INC COM 209115104 2205 75653SH X 75653
COOPER CAMERON CORP COM 216640102 1981 29625SH X 29625
CORIXA CORP COM 21887F100 1132 27500SH X 27500
CORNING INC COM 219350105 475 2450SH X 2450
C3 INC COM 22942P109 3235 487995SH X 487995
DTE ENERGY COMPANY COM 233331107 291 9850SH X 9850
DEERE & COMPANY COM 244199105 508 13275SH X 13275
DELL COMPUTER COM 247025109 348 6443SH X 6443
DELPHI AUTOMOTIVE SYSTEMS COM 247126105 350 21859SH X 21859
DEUTSCHE BANK A G SPSD ADR COM 251525309 305 4600SH X 4600
DIEBOLD INC COM 253651103 1213 43350SH X 43350
DISNEY WALT CO COM 254687106 2158 52541SH X 52541
DOLLAR TREE STORES COM 256747106 236 4530SH X 4530
DOMINION RESOURCES INC/VA COM 25746U109 1374 35703SH X 35703
DONNELLEY R R & SONS COM 257867101 409 19750SH X 19750
DOW CHEMICAL COM 260543103 891 7812SH X 7812
DU PONT E I DE NEMOURS COM 263534109 4279 80664SH X 80664
DUKE ENERGY CORP COM 264399106 1274 24109SH X 24109
EMC CORPORATION COM 268648102 2209 17440SH X 17440
EASTMAN KODAK COM 277461109 5000 92728SH X 92728
ECOLAB INC COM 278865100 486 13200SH X 13200
EMERSON ELECTRIC COM 291011104 1122 21041SH X 21041
ENRON CORP COM 293561106 327 4374SH X 4374
UITY INC FD UNT RE INC FD 94UK COM 294700703 424 2150SH X 2150
EXXON MOBIL CORPORATION COM 30231G102 23861 305948SH X 305948
FPL GROUP COM 302571104 254 5552SH X 5552
FANNIE MAE COM 313586109 835 14721SH X 14721
FIRST UNION CORP COM 337358105 1946 52245SH X 52245
FIRST VIRGINIA BANKSHARES COM 337477103 686 18234SH X 18234
FORD MOTOR COMPANY COM 345370100 9355 203447SH X 203447
FRANKLIN COVEY CO COM 353469109 312 42950SH X 42950
FRANKLIN SELECT REALTY TRUST COM 354638108 5 19665SH X 19665
GTE CORPORATION COM 362320103 4578 64379SH X 64379
GANNETT INC COM 364730101 1921 27337SH X 27337
GARTNER GROUP INC CL B COM 366651107 423 26625SH X 26625
GENERAL DYNAMICS CORP COM 369550108 4432 89500SH X 89500
GENERAL ELECTRIC COM 369604103 41860 268599SH X 268599
GENERAL MILLS COM 370334104 268 7400SH X 7400
GENERAL MOTORS CORP COM 370442105 1121 13601SH X 13601
GENUINE PARTS COM 372460105 321 13350SH X 13350
GILLETTE COMPANY COM 375766102 466 12197SH X 12197
GRIFFIN LAND & NURSERIES COM 398231100 232 20700SH X 20700
GUARANTY FINANCIAL CORP VA COM 401086103 225 28500SH X 28500
HALLIBURTON CO COM 406216101 280 6850SH X 6850
HARRIS CORP COM 413875105 444 12900SH X 12900
HARTFORD FINL SV GROUP INC COM 416515104 4948 93802SH X 93802
HERITAGE BANKSHARES INC COM 42721M101 397 40762SH X 40762
HEWLETT-PACKARD COM 428236103 14157 106600SH X 106600
HIGHWOODS PROPERTIES INC COM 431284108 1318 62582SH X 62582
HIRSCH INTERNATIONAL CORP A COM 433550100 38 29500SH X 29500
HOME DEPOT INC COM 437076102 1931 29901SH X 29901
HONEYWELL INTERNATIONAL COM 438516106 1446 27416SH X 27416
HOOKER FURNITURE CORP COM 439038100 520 41600SH X 41600
HUNTINGTON BANCSHARES COM 446150104 2913 130398SH X 130398
HUNTINGTON BANCSHARES COM 446150104 22410000CALL X 10000
ITT INDUSTRIES INC COM 450911102 1555 50176SH X 50176
INCO LTD CONV S-D SR NT CV 453258AH8 17 20000PRN X 20000
INTEL CORP COM 458140100 49867 378081SH X 378081
NTERNATIONAL BUSINESS MACHINES COM 459200101 10870 92066SH X 92066
INTERNATIONAL PAPER COM 460146103 3303 77188SH X 77188
JDS UNIPHASE CORP COM 46612J101 476 3950SH X 3950
JEFFERSON-PILOT COM 475070108 2124 31934SH X 31934
JOHNSON & JOHNSON COM 478160104 1534 21786SH X 21786
KELLOGG COMPANY COM 487836108 233 9000SH X 9000
KIMBERLY CLARK CORP COM 494368103 391 7036SH X 7036
LANIER WORLDWIDE INC COM 51589L105 21 10850SH X 10850
ELI LILLY COM 532457108 1075 17064SH X 17064
LOCKHEED MARTIN CORP COM 539830109 568 27944SH X 27944
LOEWS CORP COM 540424108 262 4960SH X 4960
LUBRIZOL CORP COM 549271104 247 8400SH X 8400
LUCENT TECHNOLOGIES INC COM 549463107 3445 55704SH X 55704
MCI WORLDCOM INC COM 55268B106 6177 136162SH X 136162
MFS INTERMEDIATE INCOME TR SBI COM 55273C107 74 12402SH X 12402
MGI PROPERTIES COM 552885105 62 11547SH X 11547
MACE SECURITY INTL INC COM 554335109 60 12000SH X 12000
MARKEL CORP COM 570535104 1470 10059SH X 10059
MARSH & MCLENNAN COS INC COM 571748102 1129 10243SH X 10243
MAY DEPT STORES COMPANY COM 577778103 285 9945SH X 9945
MCDONALDS CORP COM 580135101 1439 38510SH X 38510
MCGRAW HILL INC COM 580645109 3114 68380SH X 68380
MEAD CORPORATION COM 582834107 11625 332743SH X 332743
MEDITRUST SBI SR NT CV 58501TAC2 31 35000PRN X 35000
MEDTRONIC INC COM 585055106 6447 125356SH X 125356
MEDI SCIENCE COM 585901101 34 49000SH X 49000
MERCK & COMPANY COM 589331107 12515 202086SH X 202086
MICROSOFT CORP COM 594918104 7894 74173SH X 74173
MINNESOTA MINING & MFG COM 604059105 1494 16771SH X 16771
MONSANTO COMPANY COM 611662107 1412 27439SH X 27439
MORGAN JP & CO COM 616880100 1642 12455SH X 12455
MORGAN STANLEY DW DISCOVER COM COM 617446448 404 4872SH X 4872
MOTOROLA COM 620076109 5043 34381SH X 34381
MYLAN LABORATORIES COM 628530107 878 31625SH X 31625
NASDAQ-100 SHARES COM 631100104 625 5710SH X 5710
ESTLE S A SPNSRD ADR RPSTG REG COM 641069406 1279 14225SH X 14225
NOKIA CORP ADR A COM 654902204 2506 11224SH X 11224
NORFOLK SOUTHERN CORP COM 655844108 2839 200766SH X 200766
NORTHERN STATES POWER COM 665772109 3589 179856SH X 179856
ONE VALLEY BANCORP WEST VA INC COM 682419106 438 12650SH X 12650
ORACLE SYSTEMS CORP COM 68389X105 391 5002SH X 5002
PNC BANK CORP COM 693475105 282 6234SH X 6234
PPG INDUSTRIES INC COM 693506107 756 14415SH X 14415
PACIFICARE HEALTH SYSTEMS-B COM 695112102 227 4615SH X 4615
PEPSICO COM 713448108 3945 113645SH X 113645
PHARMACIA & UPJOHN INC COM 716941109 256 4314SH X 4314
PFIZER COM 717081103 3223 88117SH X 88117
PHILIP MORRIS COM 718154107 1386 65939SH X 65939
PHILLIPS PETROLEUM COM 718507106 1103 23775SH X 23775
PILGRIM PRIME RATE TRUST COM 72146W103 97 12000SH X 12000
POLICY MANAGEMENT SYSTEMS COM 731108106 319 26550SH X 26550
PROCTER & GAMBLE COM 742718109 1908 33862SH X 33862
PUTNAM MANAGED MUNI INCM TST COM 746823103 135 14400SH X 14400
QUAKER OATS COM 747402105 320 5286SH X 5286
QUALCOMM INC COM 747525103 470 3155SH X 3155
RALSTON PURINA GROUP COM 751277302 3147 113921SH X 113921
RAYONIER INC COM 754907103 465 9521SH X 9521
RAYTHEON CO COM 755111408 2703 150380SH X 150380
RELIANT ENERGY INC COM 75952J108 244 10325SH X 10325
RESOURCE BANKSHARES CORP VA COM 76121R104 172 19436SH X 19436
REUTERS GROUP PLC SPSD ADR COM 76132M102 815 6819SH X 6819
ROHM & HAAS CO COM 775371107 1527 34210SH X 34210
ROWE FURNITURE CORP COM 779528108 126 22000SH X 22000
ROYAL DUTCH PETROLEUM GLDR 5 COM 780257804 5462 94166SH X 94166
RURAL-METRO CORP COM 781748108 63 54025SH X 54025
SBC COMMUNICATIONS INC COM 78387G103 4265 101475SH X 101475
STANDARD & POORS DEPOSITORY COM 78462F103 1178 7720SH X 7720
THE ST JOE COMPANY COM 790148100 4103 141745SH X 141745
SCANA CORP NEW COM 80589M102 412 16791SH X 16791
SCHERING-PLOUGH COM 806605101 865 23252SH X 23252
SCHLUMBERGER LTD COM 806857108 612 7974SH X 7974
SEARS ROEBUCK & CO COM 812387108 5265 171033SH X 171033
SELECT COMFORT CORPORATION COM 81616X103 447 79700SH X 79700
SERVICE CORP INTL COM 817565104 372 125762SH X 125762
ELL TRANS & TRADING PLC NY SHS COM 822703609 258 5250SH X 5250
SHORE FINANCIAL CORP COM 82511E109 200 27415SH X 27415
SIGMA ALDRICH CORP COM 826552101 357 13495SH X 13495
SMITHFIELD FOODS COM 832248108 3449 172449SH X 172449
ITHKLINE BEECHAM PLC ADR ORD A COM 832378301 929 14084SH X 14084
SONOCO PRODUCTS COM 835495102 514 22363SH X 22363
SOUTHDOWN INC COM 841297104 698 11783SH X 11783
SOUTHTRUST CORP COM 844730101 601 23412SH X 23412
SPRINT CORP COM 852061100 504 8003SH X 8003
SUN MICROSYSTEMS COM 866810104 1589 16985SH X 16985
SUNTRUST BANKS INC COM 867914103 4020 69536SH X 69536
TELEFONICA DE ESPANA ADS COM 879382208 676 9093SH X 9093
EMPLETON GLOBAL GOVT INCOME TR COM 879929107 108 18252SH X 18252
TEMPLETON DRAGON FUND COM 88018T101 229 25450SH X 25450
TEMPLETON GLOBAL INCOME COM 880198106 133 22300SH X 22300
TEXACO COM 881694103 1372 25528SH X 25528
TEXAS INSTRUMENTS COM 882508104 1812 11325SH X 11325
THERMO ELECTRON CORP COM 883556102 911 45350SH X 45350
THERMO INSTRUMENT SR NT CV 883559AE6 387450000PRN X 450000
3 D SYSTEMS CORPORATION COM 88554D205 198 19450SH X 19450
TIME WARNER INC COM 887315109 230 2300SH X 2300
TOTAL SA SPONSORED ADR COM 89151E109 211 2856SH X 2856
TREDEGAR INDUSTRIES INC COM 894650100 762 28300SH X 28300
TYCO INTERNATIONAL LTD NEW COM 902124106 14614 291237SH X 291237
ULTRA SCAN CORP COM 9039009A8 50 50000SH X 50000
UNION PACIFIC COM 907818108 447 11312SH X 11312
UNION PACIFIC RESOURCES GROUP COM 907834105 148 10268SH X 10268
UNITED DOMINION REALTY TR COM 910197102 4584 456002SH X 456002
UNITED MOBILE HOMES INC COM 911024107 611 85950SH X 85950
US CELLULAR CORP COM 911684108 6157 86525SH X 86525
US WEST INC COM 91273H101 2022 27916SH X 27916
VENTANA MEDICAL SYSTEMS COM 92276H106 346 8022SH X 8022
VODAFONE GRP PLC SPN ADR COM 92857T107 1066 19235SH X 19235
WLR FOODS COM 929286102 415 70250SH X 70250
WACHOVIA CORP COM 929771103 3866 57187SH X 57187
WAL-MART STORES INC COM 931142103 1347 23794SH X 23794
WARNER-LAMBERT COM 934488107 2572 26308SH X 26308
WASHINGTON REIT SBI COM 939653101 1337 87550SH X 87550
WASTE MANAGEMENT INC COM 94106L109 1797 132628SH X 132628
WELLS FARGO CO COM 949746101 609 14975SH X 14975
WESCAM INC COM 950905109 956 265050SH X 265050
WESTVACO COM 961548104 250 7488SH X 7488
WIRELESS TELECOM GROUP INC COM 976524108 168 36200SH X 36200
XEROX COM 984121103 560 21620SH X 21620
YORK GROUP INC COM 986632107 217 47000SH X 47000
DAIMLER-CHRYSLER AG COM D1668R123 594 9117SH X 9117
GLOBAL CROSSING LTD COM G3921A100 218 5425SH X 5425
LORAL SPACE & COMMUNICATIONS COM G56462107 231 22650SH X 22650
</TABLE>