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>
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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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