UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 13F
INFORMATION REQUIRED OF INSTITUTIONAL INVESTMENT MANAGERS
PURSUANT TO SECTION 13(f) OF THE SECURITIES EXCHANGE ACT OF 1934
AND RULES THEREUNDER
Report for the Calendar Year or Quarter Ended 6/30/00
If amended report check here: [ ]: Amendment Number:
This Amendment (Check Only One): [ ] Is a Restatement
[ ] Adds New Holdings Entries
Salem Investment Counselors, Inc.
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Name of Institutional Investment Manager
480 Shepherd Street, Suite 200, Winston-Salem, NC 27103
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Business Address
Dale M. Brown, Vice President (336) 768-7230
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Name, Phone No., and Title of Person Duly Authorized to Submit This Report.
The institutional investment manager submitting this Form and its attachments
and the person by whom it is signed represent hereby that all information
contained therein is true, correct and complete. It is understood that all
required items, statements and schedules are considered integral parts of this
Form and that the submission of any amendment represents that all unamended
items, statements and schedules remain true, correct and complete as previously
submitted.
Pursuant to the requirements of Securities Exchange Act of 1934, the
undersigned institutional investment manager has caused this report to be signed
on its behalf in the City of Winston-Salem and State of North Carolina on the
31st day of July, 2000.
Salem Investment Counselors, Inc.
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(Name of Institutional Investment Manager)
By: /s/ Dale M. Brown, Vice President
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(Signature of Person Duly Authorized to
Submit This Report)
Form 13F file number: 28-03405
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Report Type (check only one):
[ x ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of other managers reporting for this manager: None
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 145
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Form 13F Information Table Value Total: $400,915,624
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List of Other Reporting Managers: None
<PAGE>
<TABLE>
FORM 13F
Name of Reporting Manager:
Salem Investment Counselors, Inc.
FAIR VOTING AUTHORITY
Name of Issuer TITLE OF MARKET SHARES/ SH/ PUT/ INVEST -------------------
CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Abbott Labs common 002824100 951,598 21,354 SH sole 21,354 0 0
Acorn Fund common 004851101 1,072,737 62,296 SH sole 62,296 0 0
Acorn Investment Intl. Fund common 004851200 1,375,913 41,923 SH sole 41,923 0 0
Agilent Technologies, Inc common 00846U101 3,125,451 42,379 SH sole 42,379 0 0
Allmerica Financial Corporation common 019754100 233,121 4,451 SH sole 4,451 0 0
America OnLine, Inc. common 02364J104 1,980,235 37,540 SH sole 37,540 0 0
American Air Carriers Support common 023758105 90,000 24,000 SH sole 24,000 0 0
American Gen Corp common 026351106 232,898 3,818 SH sole 3,818 0 0
American Home Products common 026609107 2,543,699 43,297 SH sole 43,297 0 0
American Int'l Group, Inc. common 026874107 510,303 4,343 SH sole 4,343 0 0
AmSouth Bancorporation common 032165102 400,759 25,445 SH sole 25,445 0 0
Analysts Int'l Corp common 032681108 192,081 20,625 SH sole 20,625 0 0
Annaly Mortgage Management, Inc. common 035710409 88,750 10,000 SH sole 10,000 0 0
Asia Tigers Fund, Inc. common 04516T105 500,850 55,650 SH sole 55,650 0 0
AT&T Corp Liberty Media Grp Cl A common 001957208 4,920,131 202,892 SH sole 202,892 0 0
Automatic Data Processing, Inc. common 053015103 591,336 11,040 SH sole 11,040 0 0
Bank of America Corp. common 060505104 10,771,672 250,504 SH sole 250,504 0 0
BB&T Corporation common 054937107 1,865,640 78,142 SH sole 78,142 0 0
BMC Software, Inc. common 055921100 1,944,962 53,310 SH sole 53,310 0 0
BellSouth Corp common 079860102 207,456 4,867 SH sole 4,867 0 0
Berkshire Hathaway, Inc. DEL CL A common 084670108 807,000 15 SH sole 15 0 0
BNP Residential Property Inc common 096903109 636,081 75,950 SH sole 75,950 0 0
BP Amoco PLC ADR common 055622104 1,148,964 20,313 SH sole 20,313 0 0
Bristol Myers Squibb Co. common 110122108 1,276,782 21,919 SH sole 21,919 0 0
Broadcom Corp Cl A common 111B20107 418,171 1,910 SH sole 1,910 0 0
CCB Financial Corp common 124875105 3,219,518 87,014 SH sole 87,014 0 0
Cablevision System Corp common 12686C109 478,519 7,050 SH sole 7,050 0 0
Cable Design Technologies Corp common 126924109 370,142 11,049 SH sole 11,049 0 0
Callon Petroleum common 13123X102 939,743 63,176 SH sole 63,176 0 0
Capital Bk Raleigh NC common 139808109 425,970 47,330 SH sole 47,330 0 0
Capital One Financial Corp. common 14040H105 6,069,446 136,010 SH sole 136,010 0 0
Cardinal Health Inc. common 14149Y108 10,515,104 142,096 SH sole 142,096 0 0
Cenit Bancorp, Inc. common 15131W109 625,813 52,700 SH sole 52,700 0 0
Charter Communications common 16117M107 409,705 24,925 SH sole 24,925 0 0
Chesapeake Corp common 165159104 413,269 13,950 SH sole 13,950 0 0
Cincinnati Financial Corp common 172062101 751,105 23,892 SH sole 23,892 0 0
Cisco Systems Inc. common 17275R102 9,770,904 153,720 SH sole 153,720 0 0
Citigroup Inc. common 172967101 4,664,435 77,418 SH sole 77,418 0 0
Clayton Homes common 184190106 1,693,464 211,683 SH sole 211,683 0 0
Coca Cola Company common 191216100 5,087,284 88,570 SH sole 88,570 0 0
Coddle Creek Financial Inc common 191891100 1,773,563 52,550 SH sole 52,550 0 0
Comcast Corp Cl A SPL common 200300200 405,000 10,000 SH sole 10,000 0 0
CommScope Inc common 203372107 8,914,220 217,420 SH sole 217,420 0 0
Community Bancshares Inc. SC common 20343F100 148,508 12,639 SH sole 12,639 0 0
Corning Inc common 219350105 4,026,535 14,920 SH sole 14,920 0 0
Cousins Properties Inc common 222795106 385,000 10,000 SH sole 10,000 0 0
Cree Inc. common 225447101 6,190,395 46,370 SH sole 46,370 0 0
CT Communication Cl B common 126426204 450,458 15,840 SH sole 15,840 0 0
Cypress Semiconductor Corp. common 232806109 371,800 8,800 SH sole 8,800 0 0
Dallas Semiconductor Corp. common 235204104 786,068 19,290 SH sole 19,290 0 0
Dimon, Inc. common 254394109 5,972,340 2,810,513 SH sole 2,810,513 0 0
Disney, Walt Company common 254687106 1,690,190 43,547 SH sole 43,547 0 0
Duke Energy Corp. common 264399106 526,261 9,335 SH sole 9,335 0 0
Dupont de nemours E.I common 263534109 216,300 4,944 SH sole 4,944 0 0
EMC Corp. MASS common 268648102 10,324,310 134,190 SH sole 134,190 0 0
Emerson Electric common 291011104 336,168 5,568 SH sole 5,568 0 0
Exxon/Mobil Corporation common 302290101 3,612,021 46,013 SH sole 46,013 0 0
First Union Corporation common 337358105 2,037,197 82,102 SH sole 82,102 0 0
General Electric common 369604103 11,508,208 217,136 SH sole 217,136 0 0
Gillette Co. common 375766102 1,186,145 33,950 SH sole 33,950 0 0
Great Lakes Chem. Corp. common 390568103 3,246,800 103,073 SH sole 103,073 0 0
Guidant Corporation common 401698105 15,162,147 306,306 SH sole 306,306 0 0
Harley Davidson common 412822108 204,820 5,320 SH sole 5,320 0 0
Hewlett Packard common 428236103 14,258,977 114,186 SH sole 114,186 0 0
Highwood Properties Inc REIT common 431284108 376,800 15,700 SH sole 15,700 0 0
Home Depot, Inc. common 437076102 628,463 12,585 SH sole 12,585 0 0
Hubbell Inc. Class B common 443510201 644,997 25,294 SH sole 25,294 0 0
Innes Street Financial Corp common 45768F103 225,938 15,000 SH sole 15,000 0 0
Intel Corp common 458140100 17,817,001 133,273 SH sole 133,273 0 0
Interim Services, Inc. common 45868P100 206,078 11,610 SH sole 11,610 0 0
International Business Machines common 459200101 1,003,159 9,156 SH sole 9,156 0 0
IRT Properties Company common 450058102 743,954 87,524 SH sole 87,524 0 0
JDS Uniphase Corporation common 46612J101 598,176 4,990 SH sole 4,990 0 0
Jefferson Pilot Corp common 475070108 724,777 12,842 SH sole 12,842 0 0
Johnson & Johnson common 478160104 992,976 9,747 SH sole 9,747 0 0
Kaufman & Broad Home Corp common 486168107 346,325 17,500 SH sole 17,500 0 0
Koninklijke Philips Electronics NV common 718337540 15,753,850 331,660 SH sole 331,660 0 0
KS Bancorp common 48266R108 837,115 62,588 SH sole 62,588 0 0
Kroger Company common 501044101 441,260 20,000 SH sole 20,000 0 0
Latin American Discovery Fund common 51828C106 778,567 76,420 SH sole 76,420 0 0
Leggett & Platt, Inc. common 524660107 2,347,191 142,254 SH sole 142,254 0 0
Lilly, Eli & Co. common 532457108 843,944 8,450 SH sole 8,450 0 0
Louis Dreyfus Natural Gas Co common 546011107 1,250,954 39,950 SH sole 39,950 0 0
Lowes Companies Inc. common 548661107 1,643,177 40,016 SH sole 40,016 0 0
Lucent Technologies Inc. common 549463107 322,083 5,436 SH sole 5,436 0 0
Martin Marietta Materials common 573284106 5,540,410 137,010 SH sole 137,010 0 0
McDonalds Corporation common 580135101 1,302,632 39,548 SH sole 39,548 0 0
MediaOne Group, Inc. common 58440J104 8,796,480 130,560 SH sole 130,560 0 0
Medtronics, Inc. common 585055106 352,427 7,075 SH sole 7,075 0 0
Mellon Financial Corp common 58551A108 868,973 23,848 SH sole 23,848 0 0
Merck & Co. common 589331107 14,487,489 189,070 SH sole 189,070 0 0
Methode Electronics, Inc. Class A common 591520200 695,250 18,000 SH sole 18,000 0 0
Microsoft Corporation common 594918104 23,138,640 289,233 SH sole 289,233 0 0
Minnesota Mining & Mfg common 604059105 6,648,675 80,590 SH sole 80,590 0 0
Morgan, JP & Co. common 616880100 242,275 2,200 SH sole 2,200 0 0
New York Times Cl A common 650111107 475,817 12,046 SH sole 12,046 0 0
Newell Rubbermaid, Inc. common 651229106 350,200 13,600 SH sole 13,600 0 0
Newsedge Corp common 65249Q106 26,250 10,500 SH sole 10,500 0 0
Nokia Corp. common 654902204 4,967,832 99,480 SH sole 99,480 0 0
Oracle Corp common 68389X105 493,870 5,875 SH sole 5,875 0 0
Paradyne Corp. common 69911G107 325,630 10,000 SH sole 10,000 0 0
Peoples Bancorp NC common 710577107 474,911 34,539 SH sole 34,539 0 0
Pepsico, Inc. common 713448108 13,795,777 310,450 SH sole 310,450 0 0
Pfizer, Inc. common 717081103 3,607,104 75,148 SH sole 75,148 0 0
Pharmacia Corp common 71713U102 327,337 6,333 SH sole 6,333 0 0
Pharmanetics, Inc. common 71713J107 5,771,223 290,376 SH sole 290,376 0 0
Philip Morris Cos. Inc. common 718154107 609,090 22,930 SH sole 22,930 0 0
Pitney Bowes, Inc. common 724479100 256,000 6,400 SH sole 6,400 0 0
Post PPTYS, Inc. common 737464107 596,200 13,550 SH sole 13,550 0 0
Proctor & Gamble common 742718109 775,623 13,548 SH sole 13,548 0 0
PSINET, Inc common 74437C101 628,125 25,000 SH sole 25,000 0 0
Quitman Bancorp common 748803103 111,375 13,500 SH sole 13,500 0 0
RF Micro Devices, Inc. common 749941100 2,307,604 26,335 SH sole 26,335 0 0
Sara Lee Corporation common 803111103 708,980 36,710 SH sole 36,710 0 0
Scana Corp common 80589M102 241,300 10,000 SH sole 10,000 0 0
Schering-Plough Corp common 806605101 1,334,513 26,426 SH sole 26,426 0 0
Scottish Bk Charlotte, NC common 81013N104 200,000 12,500 SH sole 12,500 0 0
Sealed Air Corp. New common 812211K100 620,644 11,850 SH sole 11,850 0 0
Security Bancorp Inc TN common 81377P109 347,700 22,800 SH sole 22,800 0 0
ServiceMaster Co. common 81760N109 5,255,045 461,982 SH sole 461,982 0 0
SmithKline Beecham PLC ADR common 832378301 417,200 6,400 SH sole 6,400 0 0
Sonoco Products common 835495102 2,806,932 136,504 SH sole 136,504 0 0
Southcoast Financial Corp common 84129R100 184,250 22,000 SH sole 22,000 0 0
Southern Community Bank/Trust common 842630105 451,950 52,400 SH sole 52,400 0 0
Southern Financial Bancorp common 842870107 1,438,372 110,644 SH sole 110,644 0 0
Sprint Corp common 852061100 1,760,367 34,517 SH sole 34,517 0 0
Steelcase Inc. common 858155203 404,600 23,800 SH sole 23,800 0 0
Suiza Foods Corporation common 865077101 1,221,875 25,000 SH sole 25,000 0 0
Sun Microsystems, Inc. common 866810104 1,577,501 17,347 SH sole 17,347 0 0
Suntrust Banks, Inc. common 867914103 205,639 4,501 SH sole 4,501 0 0
Sysco Corporation common 871829107 12,461,755 295,828 SH sole 295,828 0 0
Tanger Fact. Outlet Ctrs - SKT common 875465106 204,450 8,700 SH sole 8,700 0 0
TCF Financial Corp common 872275102 349,049 13,588 SH sole 13,588 0 0
Tri Continental Corp common 895436103 278,078 11,013 SH sole 11,013 0 0
Triad Guaranty Inc. common 895925105 17,731,670 773,026 SH sole 773,026 0 0
Tribune Co common 896047107 10,380,335 296,581 SH sole 296,581 0 0
Tyco International Ltd common 902124106 911,021 19,230 SH sole 19,230 0 0
Unifirst Corporation - Mass common 904708104 282,713 35,900 SH sole 35,900 0 0
US Bancorp Del common 911596104 664,125 34,500 SH sole 34,500 0 0
VF Corporation common 918204108 2,455,239 103,105 SH sole 103,105 0 0
Wachovia Corporation common 929771103 2,098,661 38,685 SH sole 38,685 0 0
Wallace Computer Service common 932270101 1,639,448 166,020 SH sole 166,020 0 0
Wal-Mart Stores common 931142103 966,083 16,765 SH sole 16,765 0 0
Williams Companies common 969457100 263,965 6,332 SH sole 6,332 0 0
Worldcom Inc common 98157D106 7,497,718 163,438 SH sole 163,438 0 0
Grand Total 6/30/00 400,915,624
</TABLE>
