VIRGINIA INVESTMENT COUNSELORS INC
13F-HR, 2000-05-12
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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: 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


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