VIRGINIA INVESTMENT COUNSELORS INC
13F-HR, 2000-02-09
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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: 12/31/99

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         02/08/00

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: 243

Form 13F Information Table Value Total: 636811


<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                           EQUITY        001055102     224     4757                                       4757
AT&T CORP                           EQUITY        001957109    3967    78065                                      78065
AT&T CORP- LIBERTY MEDIA-A          EQUITY        001957208     485     8544                                       8544
ABBOTT LABS                         EQUITY        002824100    3936   108395                                     108395
ADAPTEC                             EQUITY        00651F108     342     6850                                       6850
AEGIS COMMUNICATIONS GROUP          EQUITY        00760B105      48    50000                                      50000
AEGON N V SPONSORED ADR             EQUITY        007924103     867     9083                                       9083
ALCOA INC                           EQUITY        013817101    1130    13610                                      13610
ALLEGHENY ENERGY INC                EQUITY        017361106     222     8258                                       8258
AMERICA ONLINE INC                  EQUITY        02364J104     472     6226                                       6226
AMERICAN ELEC PWR INC               EQUITY        025537101     256     7968                                       7968
AMERICAN EXPRESS CO                 EQUITY        025816109     909     5470                                       5470
AMERICAN GENERAL CORP               EQUITY        026351106     264     3485                                       3485
AMERICAN HOME PRODS CORP            EQUITY        026609107    4386   111753                                     111753
AMERICAN INTL GROUP INC             EQUITY        026874107     878     8118                                       8118
AMGEN INC                           EQUITY        031162100    2739    45600                                      45600
AMSOUTH BANCORPORATION              EQUITY        032165102     270    13981                                      13981
ANHEUSER BUSCH COS INC              EQUITY        035229103    1480    20882                                      20882
ASSOCIATED ESTATES REALTY CORP      EQUITY        045604105     141    18000                                      18000
ATLANTIC RICHFIELD CO               EQUITY        048825103    1421    16427                                      16427
AUDRE RECOGNITION SYSTEMS INC       EQUITY        050904101       5    81081                                      81081
AUTOMATIC DATA PROCESSING INC       EQUITY        053015103    3164    58735                                      58735
AVALON BAY COMMUNITIES INC          EQUITY        053484101     342     9886                                       9886
BB&T CORP                           EQUITY        054937107    3677   134321                                     134321
BP AMOCO                            EQUITY        055622104    5421    91395                                      91395
BMC SOFTWARE INC                    EQUITY        055921100    9724   121650                                     121650
BANK OF AMERICA CORP                EQUITY        060505104    5187   103355                                     103355
BANK OF HAMPTON ROADS               EQUITY        060990108     585    45031                                      45031
BANK ONE CORP                       EQUITY        06423A103    6567   205215                                     205215
BARRICK GOLD CORP                   EQUITY        067901108     180    10197                                      10197
BASSETT FURNITURE INDS INC          EQUITY        070203104     266    16606                                      16606
BAYER A G SPONSORED ADR             EQUITY        072730302     359     7600                                       7600
BEAR STEARNS COS INC                EQUITY        073902108    6577   153853                                     153853
BECTON DICKINSON & CO               EQUITY        075887109     940    34895                                      34895
BELL ATLANTIC CORP                  EQUITY        077853109   11777   191292                                     191292
BELLSOUTH CORP                      EQUITY        079860102    4142    88479                                      88479
BERGEN BRUNSWIG CORP                EQUITY        083739102     247    29724                                      29724
BESTFOODS                           EQUITY        08658U101     475     9036                                       9036
BIOCRYST PHARMACEUTICALS            EQUITY        09058V103    1973    66889                                      66889
BOEING CO                           EQUITY        097023105    1069    25799                                      25799
BRISTOL MYERS SQUIBB CO             EQUITY        110122108   11927   185816                                     185816
BROADWING INC                       EQUITY        111620100     207     5600                                       5600
BROWN FORMAN CORP CL B              EQUITY        115637209     515     9000                                       9000
BURLINGTON NORTHN SANTA FE CP       EQUITY        12189T104    1103    45493                                      45493
CBS CORP COM                        EQUITY        12490K107     496     7750                                       7750
CIGNA CORP                          EQUITY        125509109    4647    57685                                      57685
CSX CORP                            EQUITY        126408103     410    13054                                      13054
CANADIAN PAC LTD NEW                EQUITY        135923100    3216   149125                                     149125
CANADIAN NATIONAL RAILWAY CO        EQUITY        136375102    2769   104476                                     104476
CAPITAL ONE FINL CORP               EQUITY        14040H105    1374    28520                                      28520
CARDINAL HEALTH INC                 EQUITY        14149Y108    4387    91631                                      91631
CAROLINA PWR & LT CO                EQUITY        144141108     238     7835                                       7835
CATERPILLAR INC DEL                 EQUITY        149123101    2161    45913                                      45913
CHASE MANHATTAN CORP                EQUITY        16161A108    6480    83417                                      83417
CHESAPEAKE CORP                     EQUITY        165159104     287     9400                                       9400
CHEVRON CORPORATION                 EQUITY        166751107    2451    28297                                      28297
CIRCUIT CITY STORE INC CIRCT C      EQUITY        172737108     522    11590                                      11590
CISCO SYS INC                       EQUITY        17275R102   11005   102735                                     102735
CITIGROUP INC                       EQUITY        172967101    3745    67244                                      67244
CLAYTON HOMES INC                   EQUITY        184190106     170    18497                                      18497
CLOROX CO DEL                       EQUITY        189054109     542    10756                                      10756
COASTAL CORP                        EQUITY        190441105    5885   166055                                     166055
COCA COLA BOTTLING CO CONS          EQUITY        191098102     390     8225                                       8225
COCA COLA CO                        EQUITY        191216100   32507   558066                                     558066
COLGATE PALMOLIVE CO                EQUITY        194162103    1387    21340                                      21340
COLUMBIA ENERGY GROUP               EQUITY        197648108     217     3431                                       3431
COMCAST CORP CL A SPL               EQUITY        200300200     767    15170                                      15170
COMPAQ COMPUTER CORP                EQUITY        204493100     756    27946                                      27946
COMPUTER ASSOC INTL INC COM         EQUITY        204912109    4903    70100                                      70100
COMPUTER SCIENCES CORP              EQUITY        205363104    8283    87535                                      87535
CONAGRA INC                         EQUITY        205887102    4595   202524                                     202524
CONSOLIDATED EDISON INC             EQUITY        209115104    2801    81178                                      81178
CONSOLIDATED NAT GAS CO             EQUITY        209615103     617     9505                                       9505
COOPER CAMERON CORP                 EQUITY        216640102    1668    34075                                      34075
CORIXA CORP                         EQUITY        21887F100     798    46950                                      46950
CORNING INC                         EQUITY        219350105     303     2350                                       2350
C3 INC                              EQUITY        22942P109    3180   524545                                     524545
DTE ENERGY CO                       EQUITY        233331107     518    16386                                      16386
DEERE & CO                          EQUITY        244199105     622    14350                                      14350
DELL COMPUTER CORP                  EQUITY        247025109     331     6493                                       6493
DELPHI AUTOMOTIVE SYSTEMS           EQUITY        247126105     354    22447                                      22447
DEUTSCHE BANK A G SPSD ADR          EQUITY        251525309     391     4600                                       4600
DIEBOLD INC                         EQUITY        253651103     709    30150                                      30150
DISNEY WALT CO                      EQUITY        254687106    1558    53266                                      53266
DOLLAR TREE STORES INC              EQUITY        256747106     803    16580                                      16580
DOMINION RES INC VA                 EQUITY        257470104    1177    29982                                      29982
DONNELLEY R R & SONS CO             EQUITY        257867101     469    18900                                      18900
DOW CHEMICAL CO                     EQUITY        260543103    1017     7612                                       7612
DU PONT E I DE NEMOURS & CO         EQUITY        263534109    5287    80264                                      80264
DUKE ENERGY CORP                    EQUITY        264399106    1184    23623                                      23623
E M C CORP MASS                     EQUITY        268648102    1437    13150                                      13150
EASTMAN KODAK CO                    EQUITY        277461109    6535    98638                                      98638
ECOLAB INC                          EQUITY        278865100     516    13200                                      13200
EMERSON ELECTRIC CO                 EQUITY        291011104    1371    23891                                      23891
EXXON MOBIL CORPORATION             EQUITY        30231G102   26226   325537                                     325537
F & M NATIONAL CORP                 EQUITY        302374103     214     7774                                       7774
FPL GROUP INC                       EQUITY        302571104     240     5602                                       5602
FEDERAL NATL MTG ASSN               EQUITY        313586109     997    15971                                      15971
FIRST UN CORP                       EQUITY        337358105    2119    64332                                      64332
FIRST VA BANKS INC                  EQUITY        337477103    1235    28731                                      28731
FORD MTR CO DEL                     EQUITY        345370100   11536   216376                                     216376
FRANKLIN COVEY CO                   EQUITY        353469109     318    43800                                      43800
FRANKLIN SELECT RLTY TR COM SE      EQUITY        354638108     135    19665                                      19665
GTE CORP                            EQUITY        362320103    4813    68207                                      68207
GANNETT INC                         EQUITY        364730101    2244    27512                                      27512
GARTNER GROUP INC CL A              EQUITY        366651107     424    27775                                      27775
GENERAL  DYNAMICS CORP              EQUITY        369550108    3828    72570                                      72570
GENERAL ELEC CO                     EQUITY        369604103   44358   286641                                     286641
GENERAL MLS INC                     EQUITY        370334104     293     8200                                       8200
GENERAL MOTORS CORP                 EQUITY        370442105     971    13361                                      13361
GENICOM CORP                        EQUITY        372282103       8    10900                                      10900
GENUINE PARTS CO                    EQUITY        372460105     331    13350                                      13350
GILLETTE CO                         EQUITY        375766102     523    12697                                      12697
GRIFFIN LD & NURSERIES INC CL       EQUITY        398231100     244    21200                                      21200
GUARANTY FINL CORP                  EQUITY        401086103     307    37250                                      37250
HALLIBURTON CO                      EQUITY        406216101     285     7070                                       7070
HARRIS CORP DEL                     EQUITY        413875105     427    16000                                      16000
HARTFORD FINL SVCS GROUP INC        EQUITY        416515104    4555    96140                                      96140
HERITAGE BANKSHARES INC             EQUITY        42721M101     560    43687                                      43687
HEWLETT PACKARD CO                  EQUITY        428236103   17432   153245                                     153245
HIGHWOODS PPTYS INC                 EQUITY        431284108    1667    70582                                      70582
HIRSCH INTL CORP CL A               EQUITY        433550100      36    32250                                      32250
HOME DEPOT INC                      EQUITY        437076102    2045    29751                                      29751
HONEYWELL INTERNATIONAL INC         EQUITY        438516106    1749    30323                                      30323
HOOKER FURNITURE CORP               EQUITY        439038100     530    20800                                      20800
HUNTINGTON BANCSHARES INC           EQUITY        446150104    2970   124392                                     124392
ITT INDS INC IND                    EQUITY        450911102    1769    52895                                      52895
INTEL CORP                          EQUITY        458140100   35625   432794                                     432794
INTERNATIONAL BUSINESS MACHS        EQUITY        459200101    9888    91664                                      91664
INTL PAPER CO                       EQUITY        460146103    4469    79188                                      79188
JDS UNIPHASE CORP                   EQUITY        46612J101     371     2300                                       2300
JEFFERSON PILOT CORP                EQUITY        475070108    2184    31996                                      31996
JOHNSON & JOHNSON                   EQUITY        478160104    2022    21681                                      21681
JOHNSON CTLS INC                    EQUITY        478366107     248     4352                                       4352
KELLOGG CO                          EQUITY        487836108     283     9200                                       9200
KIMBERLY CLARK CORP                 EQUITY        494368103     460     7036                                       7036
LANIER WORLDWIDE INC                EQUITY        51589L105      55    14250                                      14250
LILLY ELI & CO                      EQUITY        532457108    1121    16864                                      16864
LOCKHEED MARTIN CORP                EQUITY        539830109     673    30744                                      30744
LOEWS CORP                          EQUITY        540424108    4206    69312                                      69312
LUBRIZOL CORP                       EQUITY        549271104     272     8800                                       8800
LUCENT TECHNOLOGIES INC             EQUITY        549463107    3522    46963                                      46963
MCI WORLDCOM INC                    EQUITY        55268B106    6744   127102                                     127102
MGI PPTYS INC                       EQUITY        552885105      63    12047                                      12047
MACE SECURITY INTL INC              EQUITY        554335109      50    12000                                      12000
MARKEL CORP                         EQUITY        570535104    1677    10818                                      10818
MARSH & MCLENNAN COS INC            EQUITY        571748102     980    10243                                      10243
MAY DEPT STORES CO                  EQUITY        577778103     321     9945                                       9945
MCDONALDS CORP                      EQUITY        580135101    1592    39485                                      39485
MCGRAW HILL COS INC                 EQUITY        580645109    4405    71480                                      71480
MEAD CORP                           EQUITY        582834107   16569   381439                                     381439
MEDTRONIC INC                       EQUITY        585055106     209     5746                                       5746
MEDISCIENCE TECHNOLOGY CORP         EQUITY        585901101      11    49000                                      49000
MERCK & CO INC                      EQUITY        589331107    9537   141944                                     141944
MICROSOFT CORP                      EQUITY        594918104    8831    75640                                      75640
MINNESOTA MNG & MFG CO              EQUITY        604059105    1629    16646                                      16646
MONSANTO CO                         EQUITY        611662107     967    27289                                      27289
MONTANA POWER CO                    EQUITY        612085100     229     6342                                       6342
MORGAN J P & CO INC                 EQUITY        616880100    1662    13125                                      13125
MORGAN STANLEY DEAN WITTER&CO       EQUITY        617446448     348     2436                                       2436
MOTOROLA INC                        EQUITY        620076109    5484    37246                                      37246
MYLAN LABS INC                      EQUITY        628530107    6102   242275                                     242275
NASDAQ-100 SHARES                   EQUITY        631100104     468     2560                                       2560
NESTLE S A SPNSRD ADR RPSTG RE      EQUITY        641069406    1617    17625                                      17625
NOKIA CORP SPONSORED ADR            EQUITY        654902204    1106     5790                                       5790
NORFOLK SOUTHERN CORP               EQUITY        655844108    3907   190585                                     190585
NORTHERN STS PWR CO MINN            EQUITY        665772109    4044   207391                                     207391
ONE VALLEY BANCORP INC              EQUITY        682419106     545    17787                                      17787
ORACLE CORP                         EQUITY        68389X105     279     2488                                       2488
PNC BK CORP                         EQUITY        693475105     277     6234                                       6234
PPG INDS INC                        EQUITY        693506107     902    14415                                      14415
PACIFICARE HEALTH SYSTEMS           EQUITY        695112102     449     8465                                       8465
PEPSICO INC                         EQUITY        713448108    4020   114045                                     114045
PHARMACIA & UPJOHN INC              EQUITY        716941109     226     5025                                       5025
PFIZER INC                          EQUITY        717081103    2977    91767                                      91767
PHILIP MORRIS COS INC               EQUITY        718154107    4321   187882                                     187882
PHILLIPS PETE CO                    EQUITY        718507106    1153    24540                                      24540
PROCTER & GAMBLE CO                 EQUITY        742718109    3644    33262                                      33262
QUAKER OATS CO                      EQUITY        747402105     347     5286                                       5286
QUALCOMM INC                        EQUITY        747525103     305     1730                                       1730
RAYONIER INC                        EQUITY        754907103     460     9521                                       9521
RAYTHEON CO CL B                    EQUITY        755111408    4406   165860                                     165860
RELIANT ENERGY INC                  EQUITY        75952J108     357    15625                                      15625
RESOURCES BANKSHARES CORP           EQUITY        76121R104     165    19137                                      19137
REUTERS GROUP PLC SPONSORED AD      EQUITY        76132M102     649     8031                                       8031
ROHM & HAAS CO                      EQUITY        775371107    1392    34210                                      34210
THE ROWE COMPANIES                  EQUITY        779528108     186    22000                                      22000
ROYAL DUTCH PETE CO NY REG GLD      EQUITY        780257804    6036    99659                                      99659
RURAL / METRO CORP                  EQUITY        781748108     307    71750                                      71750
SBC COMMUNICATIONS INC              EQUITY        78387G103    5025   103074                                     103074
SPDR TR UNIT SER 1                  EQUITY        78462F103     980     6670                                       6670
ST JOE CO                           EQUITY        790148100    3610   148500                                     148500
ST PAUL COS INC                     EQUITY        792860108     204     6046                                       6046
SCANA CORP                          EQUITY        805898103     463    17228                                      17228
SCHERING PLOUGH CORP                EQUITY        806605101    1028    24252                                      24252
SCHLUMBERGER LTD PENDING SPIN-      EQUITY        806857108     512     8174                                       8174
SEARS ROEBUCK & CO                  EQUITY        812387108    5913   194671                                     194671
SELECT COMFORT CORPORATION          EQUITY        81616X103     329    80900                                      80900
SERVICE CORP INTL                   EQUITY        817565104     838   120830                                     120830
SHELL TRANS & TRADING PLC NEW       EQUITY        822703609     268     5475                                       5475
SHORE FINL CORP                     EQUITY        82511E109     233    29115                                      29115
SIGMA ALDRICH CORP                  EQUITY        826552101     406    13495                                      13495
SMITHFIELD FOODS INC                EQUITY        832248108    4444   185185                                     185185
SMITHKLINE BEECHAM PLC ADR REP      EQUITY        832378301     903    14084                                      14084
SONOCO PRODS CO                     EQUITY        835495102     532    23402                                      23402
SOUTHDOWN INC                       EQUITY        841297104     608    11783                                      11783
SOUTHTRUST CORP                     EQUITY        844730101     975    25787                                      25787
SPRINT CORP                         EQUITY        852061100     552     8203                                       8203
SUN MICROSYSTEMS INC                EQUITY        866810104    1317    17010                                      17010
SUNTRUST BANKS INC                  EQUITY        867914103    6129    89068                                      89068
SYSCO CORP                          EQUITY        871829107     216     5450                                       5450
TELEFONICA S A SPONSORED ADR        EQUITY        879382208     740     9385                                       9385
TEXACO INC                          EQUITY        881694103    1640    30196                                      30196
TEXAS INSTRS INC                    EQUITY        882508104    1087    11250                                      11250
TEXAS UTILS CO                      EQUITY        882848104     206     5791                                       5791
THERMO ELECTRON CORP                EQUITY        883556102     725    48300                                      48300
3-D SYS CORP DEL                    EQUITY        88554D205     238    27950                                      27950
TORCHMARK CORP                      EQUITY        891027104     201     6908                                       6908
TREDEGAR INDS INC                   EQUITY        894650100     584    28250                                      28250
TYCO INTL LTD NEW                   EQUITY        902124106   12062   309282                                     309282
ULTRA SCAN CORP                     EQUITY        9039009A8      50    50000                                      50000
UNION PAC CORP                      EQUITY        907818108     496    11342                                      11342
UNION PAC RES GROUP INC             EQUITY        907834105     136    10631                                      10631
UNITED DOMINION REALTY TR INC       EQUITY        910197102    4558   461577                                     461577
UNITED MOBILE HOMES INC             EQUITY        911024107     697    84500                                      84500
U S WEST INC NEW                    EQUITY        91273H101    6514    90471                                      90471
VERTEX COMM CORP                    EQUITY        925320103     989    48225                                      48225
VODAFONE GROUP PLC SPONSORED A      EQUITY        92857T107     960    19385                                      19385
WLR FOODS                           EQUITY        929286102     411    71400                                      71400
WACHOVIA CORP                       EQUITY        929771103    5020    73818                                      73818
WAL-MART STORES INC                 EQUITY        931142103    1645    23803                                      23803
WARNER LAMBERT CO                   EQUITY        934488107    2299    28058                                      28058
WASHINGTON REAL ESTATE INVT TR      EQUITY        939653101    1242    82775                                      82775
WASTE MGMT INC DEL                  EQUITY        94106L109    2823   164219                                     164219
WELLS FARGO CO                      EQUITY        949746101     638    15775                                      15775
WESCAM INC                          EQUITY        950905109     900   273650                                     273650
WESTVACO CORP                       EQUITY        961548104     244     7488                                       7488
WEYERHAEUSER CO                     EQUITY        962166104     224     3125                                       3125
WIRELESS TELECOM GROUP INC          EQUITY        976524108     115    36200                                      36200
XEROX CORP                          EQUITY        984121103     481    21220                                      21220
YORK GROUP INC                      EQUITY        986632107     208    48150                                      48150
DAIMLER-CHRYSLER AG                 EQUITY        D1668R123     732     9380                                       9380
GLOBAL CROSSING LTD                 EQUITY        G3921A100     615    12300                                      12300


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