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 3/31/00
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
- --------------------------------------------------
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
27th day of April, 2000.
Salem Investment Counselors, Inc.
- ------------------------------------------
(Name of Institutional Investment Manager)
By: /s/ Dale M. Brown, Vice President
- ---------------------------------------
(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: 149
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Form 13F Information Table Value Total: $405,729,045
--------------------------
List of Other Reporting Managers: None
<PAGE>
<TABLE>
FORM 13F
Name of Reporting Manager:
Salem Investment Counselors, Inc.
VOTING
FAIR AUTHORITY
TITLE OF MARKET SHARES/ SH/ PUT/ INVEST ----------------------
NAME OF ISSUER CLASS CUSIP VALUE PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Abbott Labs common 002824100 610,687 17,354 SH sole 17,354 0 0
Acorn Fund common 004851101 1,159,310 62,295 SH sole 62,295 0 0
Acorn Investment Intl. Fund common 004851200 1,634,807 41,283 SH sole 41,283 0 0
Allmerica Financial Corporation common 019754100 235,467 4,617 SH sole 4,617 0 0
America OnLine, Inc. common 02364J104 3,249,813 48,190 SH sole 48,190 0 0
American Gen Corp common 026351106 214,285 3,818 SH sole 3,818 0 0
American Home Products common 026609107 2,349,950 43,720 SH sole 43,720 0 0
American Int'l Group, Inc. common 026874107 475,559 4,343 SH sole 4,343 0 0
AmSouth Bancorporation common 032165102 396,858 26,567 SH sole 26,567 0 0
Anadigics Inc. common 032515108 216,150 3,275 SH sole 3,275 0 0
Analysts Int'l Corp common 032681108 241,444 24,450 SH sole 24,450 0 0
Annaly Mortgage Management, Inc. common 035710409 90,000 10,000 SH sole 10,000 0 0
Aphton Corp common 03759P101 213,600 6,400 SH sole 6,400 0 0
Asia Tigers Fund, Inc. common 04516T105 701,948 67,625 SH sole 67,625 0 0
AT&T Corp Liberty Media Grp Cl A common 001957208 3,828,800 64,553 SH sole 64,553 0 0
Automatic Data Processing, Inc. common 053015103 571,280 11,840 SH sole 11,840 0 0
Bank of America Corp. common 060505104 13,135,804 250,504 SH sole 250,504 0 0
BB&T Corporation common 054937107 1,803,829 64,279 SH sole 64,279 0 0
BMC Software, Inc. common 055921100 2,964,228 60,035 SH sole 60,035 0 0
BellSouth Corp common 079860102 237,422 5,065 SH sole 5,065 0 0
Berkshire Hathaway, Inc. DEL CL A common 084670108 858,000 15 SH sole 15 0 0
Boddie-Noell Rest Ppty common 096903109 1,139,638 147,050 SH sole 147,050 0 0
BP Amoco PLC ADR common 055622104 974,635 18,303 SH sole 18,303 0 0
Bristol Myers Squibb Co. common 110122108 943,892 16,274 SH sole 16,274 0 0
Broadcom Corp Cl A common 111B20107 514,895 2,120 SH sole 2,120 0 0
CCB Financial Corp common 124875105 4,232,911 95,659 SH sole 95,659 0 0
Cablevision System Corp common 12686C109 428,288 7,050 SH sole 7,050 0 0
Cable Design Technologies Corp common 126924109 399,824 11,781 SH sole 11,781 0 0
Callon Petroleum common 13123X102 684,165 56,426 SH sole 56,426 0 0
Capital Bk Raleigh NC common 139808109 340,208 47,330 SH sole 47,330 0 0
Capital One Financial Corp. common 14040H105 5,618,275 117,200 SH sole 117,200 0 0
Cardinal Health Inc. common 14149Y108 6,419,381 139,932 SH sole 139,932 0 0
Cenit Bancorp, Inc. common 15131W109 465,569 45,700 SH sole 45,700 0 0
Charter Communications common 16117M107 365,725 25,525 SH sole 25,525 0 0
Cincinnati Financial Corp common 172062101 898,937 23,892 SH sole 23,892 0 0
Cisco Systems Inc. common 17275R102 14,730,196 190,528 SH sole 190,528 0 0
Citigroup Inc. common 172967101 4,307,587 71,943 SH sole 71,943 0 0
Clayton Homes common 184190106 1,982,303 195,783 SH sole 195,783 0 0
Coca Cola Company common 191216100 4,185,886 89,180 SH sole 89,180 0 0
Coddle Creek Financial Inc. common 191891100 1,619,888 53,550 SH sole 53,550 0 0
Comcast Corp Cl A SPL common 200300200 433,750 10,000 SH sole 10,000 0 0
CommScope Inc common 203372107 6,159,817 134,825 SH sole 134,825 0 0
Community Bancshares Inc. SC common 20343F100 1,107,130 95,237 SH sole 95,237 0 0
Corning Inc common 219350105 2,457,010 12,665 SH sole 12,665 0 0
Cousins Properties Inc common 222795106 368,130 10,000 SH sole 10,000 0 0
Cree Inc. common 225447101 6,964,952 61,705 SH sole 61,705 0 0
CT Communication Cl B common 126426204 466,805 7,920 SH sole 7,920 0 0
Cypress Semiconductor Corp. common 232806109 460,600 9,400 SH sole 9,400 0 0
Dallas Semiconductor Corp. common 235204104 835,485 22,890 SH sole 22,890 0 0
Dimon, Inc. common 254394109 6,689,021 2,810,513 SH sole 2,810,513 0 0
Disney, Walt Company common 254687106 1,821,064 44,147 SH sole 44,147 0 0
Duke Energy Corp. common 264399106 1,027,583 19,573 SH sole 19,573 0 0
EMC Corp. MASS common 268648102 8,539,902 67,777 SH sole 67,777 0 0
Emerson Electric common 291011104 215,264 3,968 SH sole 3,968 0 0
Exxon Corporation common 302290101 2,380,404 30,518 SH sole 30,518 0 0
First Union Corporation common 337358105 3,071,821 82,465 SH sole 82,465 0 0
Firstar Corp common 33763V109 412,884 18,000 SH sole 18,000 0 0
Firstfed Financial Corp common 337907109 425,325 32,100 SH sole 32,100 0 0
General Electric common 369604103 6,458,432 41,235 SH sole 41,235 0 0
Gillette Co. common 375766102 1,306,249 34,660 SH sole 34,660 0 0
Great Lakes Chem. Corp. common 390568103 5,038,460 148,190 SH sole 148,190 0 0
Guidant Corporation common 401698105 18,332,556 311,381 SH sole 311,381 0 0
Harley Davidson common 412822108 254,209 3,180 SH sole 3,180 0 0
Hewlett Packard common 428236103 15,547,991 117,288 SH sole 117,288 0 0
Highwood Properties Inc REIT common 431284108 356,963 16,700 SH sole 16,700 0 0
Home Depot, Inc. common 437076102 819,473 12,705 SH sole 12,705 0 0
Hubbell Inc. Class B common 443510201 717,663 26,216 SH sole 26,216 0 0
Intel Corp common 458140100 18,897,408 143,230 SH sole 143,230 0 0
Interim Services, Inc. common 45868P100 215,511 11,610 SH sole 11,610 0 0
International Business Machines common 459200101 1,319,197 11,156 SH sole 11,156 0 0
IRT Properties Company common 450058102 661,248 82,656 SH sole 82,656 0 0
JDS Uniphase Corporation common 46612J101 251,976 2,090 SH sole 2,090 0 0
Jefferson Pilot Corp common 475070108 861,452 12,942 SH sole 12,942 0 0
Johnson & Johnson common 478160104 399,231 5,683 SH sole 5,683 0 0
Kaufman & Broad Home Corp common 486168107 503,793 23,500 SH sole 23,500 0 0
Koninklijke Philips Electronics NV common 718337540 15,323,732 89,449 SH sole 89,449 0 0
KS Bancorp common 48266R108 829,291 62,588 SH sole 62,588 0 0
Kroger Company common 501044101 351,240 20,000 SH sole 20,000 0 0
Latin American Discovery Fund common 51828C106 1,094,524 95,176 SH sole 95,176 0 0
Leggett & Platt, Inc. common 524660107 2,920,564 144,654 SH sole 144,654 0 0
Lilly, Eli & Co. common 532457108 244,238 3,900 SH sole 3,900 0 0
Lowes Companies Inc. common 548661107 2,137,459 36,616 SH sole 36,616 0 0
Lucent Technologies Inc. common 549463107 343,232 5,536 SH sole 5,536 0 0
MCI Worldcom, Inc. common 55268B106 7,497,769 165,468 SH sole 165,468 0 0
Martin Marietta Materials common 573284106 6,017,538 126,685 SH sole 126,685 0 0
McDonalds Corporation common 580135101 1,347,593 36,056 SH sole 36,056 0 0
MediaOne Group, Inc. common 58440J104 11,273,175 139,175 SH sole 139,175 0 0
Medtronics, Inc. common 585055106 471,698 8,995 SH sole 8,995 0 0
Mellon Financial Corp common 58551A108 816,578 27,448 SH sole 27,448 0 0
Merck & Co. common 589331107 11,678,195 187,979 SH sole 187,979 0 0
Methode Electronics, Inc. Class A common 591520200 909,000 18,000 SH sole 18,000 0 0
Microsoft Corporation common 594918104 30,877,100 290,608 SH sole 290,608 0 0
Midwest Express common 597911106 333,125 13,000 SH sole 13,000 0 0
Minnesota Mining & Mfg. common 604059105 7,253,712 81,905 SH sole 81,905 0 0
Morgan, JP & Co. common 616880100 304,343 2,310 SH sole 2,310 0 0
New York Times Cl A common 650111107 517,225 12,046 SH sole 12,046 0 0
Newell Rubbermaid, Inc. common 651229106 356,067 14,350 SH sole 14,350 0 0
Newsedge Corp common 65249Q106 85,854 20,500 SH sole 20,500 0 0
Nokia Corp. common 654902204 3,120,210 14,055 SH sole 14,055 0 0
Pacific Century Cyberworks Ltd common Y6801N100 233,700 100,000 SH sole 100,000 0 0
Paradyne Corp. common 69911G107 310,000 10,000 SH sole 10,000 0 0
Peoples Bancorp NC common 710577107 445,059 33,263 SH sole 33,263 0 0
Pepsico, Inc. common 713448108 10,782,164 309,166 SH sole 309,166 0 0
Pfizer, Inc. common 717081103 472,570 12,925 SH sole 12,925 0 0
Pharmanetics, Inc. common 71713J107 3,848,207 258,703 SH sole 258,703 0 0
Philip Morris Cos. Inc. common 718154107 499,476 23,927 SH sole 23,927 0 0
Pitney Bowes, Inc. common 724479100 285,952 6,400 SH sole 6,400 0 0
Post PPTYS, Inc. common 737464107 471,656 11,700 SH sole 11,700 0 0
Proctor & Gamble common 742718109 803,467 14,158 SH sole 14,158 0 0
PSINET, Inc common 74437C101 346,959 10,200 SH sole 10,200 0 0
Quitman Bancorp common 748803103 108,000 13,500 SH sole 13,500 0 0
Raven Ind. common 754212108 111,250 10,000 SH sole 10,000 0 0
RF Micro Devices, Inc. common 749941100 6,933,750 51,600 SH sole 51,600 0 0
Safeguard Scientifics Inc common 786449108 1,342,740 19,460 SH sole 19,460 0 0
Sara Lee Corporation common 803111103 660,780 36,710 SH sole 36,710 0 0
Scana Corp common 80589M102 268,812 10,944 SH sole 10,944 0 0
Schering-Plough Corp common 806605101 665,136 17,856 SH sole 17,856 0 0
Scottish Bk Charlotte, NC common 81013N104 200,000 12,500 SH sole 12,500 0 0
Sealed Air Corp. New common 812211K100 477,950 8,800 SH sole 8,800 0 0
Security Bancorp Inc TN common 81377P109 342,000 22,800 SH sole 22,800 0 0
ServiceMaster Co. common 81760N109 5,256,326 467,229 SH sole 467,229 0 0
SGV Bancorp Inc common 78422T102 631,819 27,175 SH sole 27,175 0 0
Sonoco Products common 835495102 3,282,307 142,709 SH sole 142,709 0 0
Southcoast Community Bank common 840903108 459,263 49,650 SH sole 49,650 0 0
Southcoast Financial Corp common 84129R100 170,500 22,000 SH sole 22,000 0 0
Southern Financial Bancorp common 842870107 1,635,024 115,244 SH sole 115,244 0 0
Sprint Corp common 852061100 1,386,250 21,917 SH sole 21,917 0 0
Steelcase Inc. common 858155203 300,000 25,000 SH sole 25,000 0 0
Suiza Foods Corporation common 865077101 1,006,250 25,000 SH sole 25,000 0 0
Sun Microsystems, Inc. common 866810104 1,321,682 14,105 SH sole 14,105 0 0
Suntrust Banks, Inc. common 867914103 259,933 4,501 SH sole 4,501 0 0
Sysco Corporation common 871829107 10,739,204 297,279 SH sole 297,279 0 0
TCF Financial Corp common 872275102 351,289 14,752 SH sole 14,752 0 0
Terra Industries common 880915103 25,266 10,926 SH sole 10,926 0 0
Tri Continental Corp common 895436103 292,154 11,457 SH sole 11,457 0 0
Triad Guaranty Inc. common 895925105 15,603,798 768,187 SH sole 768,187 0 0
Tribune Co common 896047107 10,762,757 294,366 SH sole 294,366 0 0
Tyco International Ltd common 902124106 1,029,066 20,530 SH sole 20,530 0 0
Unifirst Corporation - Mass common 904708104 419,625 37,300 SH sole 37,300 0 0
US Airways Group, Inc. common 911905107 3,116,919 112,069 SH sole 112,069 0 0
US Bancorp Del common 911596104 754,688 34,500 SH sole 34,500 0 0
Vaughn Bassett Furniture Co common 92238J109 242,004 5,628 SH sole 5,628 0 0
VF Corporation common 918204108 2,486,980 103,355 SH sole 103,355 0 0
Wachovia Corporation common 929771103 2,341,243 34,653 SH sole 34,653 0 0
Wallace Computer Service common 932270101 2,078,598 175,966 SH sole 175,966 0 0
Wal-Mart Stores common 931142103 873,773 15,465 SH sole 15,465 0 0
Warner-Lambert Co. - W/I common 934488107 1,748,509 17,899 SH sole 17,899 0 0
Wellington Hall Ltd. common 949535207 875 12,500 SH sole 12,500 0 0
Williams Companies common 969457100 219,650 5,000 SH sole 5,000 0 0
</TABLE>
