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 9/30/00
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
1st day of November, 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: 150
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Form 13F Information Table Value Total: $412,100,108
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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> <C>
Abbott Labs common 002824100 1,015,660 21,354 SH sole 21,354 0 0
Acorn Fund common 004851101 1,174,903 62,296 SH sole 62,296 0 0
Acorn Investment Intl. Fund common 004851200 1,347,790 42,855 SH sole 42,855 0 0
Agilent Technologies, Inc common 00846U101 1,910,765 39,045 SH sole 39,045 0 0
Allmerica Financial Corporation common 019754100 284,588 4,451 SH sole 4,451 0 0
Alpharma, Inc. common 020813101 1,222,500 20,000 SH sole 20,000 0 0
America OnLine, Inc. common 02364J104 6,447,044 119,945 SH sole 119,945 0 0
American Gen Corp common 026351106 297,804 3,818 SH sole 3,818 0 0
American Home Products common 026609107 2,556,478 45,197 SH sole 45,197 0 0
American Int'l Group, Inc. common 026874107 627,809 6,561 SH sole 6,561 0 0
AmSouth Bancorporation common 032165102 313,388 25,071 SH sole 25,071 0 0
Anadigics, Inc common 032515108 238,397 10,775 SH sole 10,775 0 0
Analysts Int'l Corp common 032681108 132,649 18,375 SH sole 18,375 0 0
Annaly Mortgage Management, Inc. common 035710409 91,250 10,000 SH sole 10,000 0 0
Asia Tigers Fund, Inc. common 04516T105 529,511 68,875 SH sole 68,875 0 0
AT&T Corp common 001957109 3,284,213 111,803 SH sole 111,803 0 0
AT&T Corp Liberty Media Grp Cl A common 001957208 4,017,006 223,167 SH sole 223,167 0 0
Automatic Data Processing, Inc. common 053015103 738,300 11,040 SH sole 11,040 0 0
Bank of America Corp. common 060505104 13,111,348 250,336 SH sole 250,336 0 0
BB&T Corporation common 054937107 2,772,283 92,026 SH sole 92,026 0 0
Berkshire Hathaway, Inc. DEL CL A common 084670108 966,000 15 SH sole 15 0 0
BNP Residential Property Inc common 096903109 570,775 67,150 SH sole 67,150 0 0
BP Amoco PLC ADR common 055622104 1,076,589 20,313 SH sole 20,313 0 0
Bristol Myers Squibb Co. common 110122108 1,463,485 25,619 SH sole 25,619 0 0
Broadcom Corp Cl A common 111B20107 353,438 1,450 SH sole 1,450 0 0
Cablevision System Corp common 12686C109 334,878 5,050 SH sole 5,050 0 0
Cable Design Technologies Corp common 126924109 402,939 16,573 SH sole 16,573 0 0
Callon Petroleum common 13123X102 1,093,846 69,176 SH sole 69,176 0 0
Capital Bk Raleigh NC common 139808109 437,803 47,330 SH sole 47,330 0 0
Capital One Financial Corp. common 14040H105 9,994,065 142,645 SH sole 142,645 0 0
Cardinal Health Inc. common 14149Y108 12,460,012 141,290 SH sole 141,290 0 0
Cenit Bancorp, Inc. common 15131W109 741,925 50,300 SH sole 50,300 0 0
Charter Communications common 16117M107 358,250 22,025 SH sole 22,025 0 0
Chesapeake Corp common 165159104 268,538 13,950 SH sole 13,950 0 0
Cincinnati Financial Corp common 172062101 841,066 23,692 SH sole 23,692 0 0
Cisco Systems Inc. common 17275R102 8,332,529 150,815 SH sole 150,815 0 0
Citigroup Inc. common 172967101 6,250,652 115,619 SH sole 115,619 0 0
Clayton Homes common 184190106 2,521,330 252,133 SH sole 252,133 0 0
Coca Cola Company common 191216100 4,874,153 88,420 SH sole 88,420 0 0
Coddle Creek Financial Inc common 191891100 1,918,075 52,550 SH sole 52,550 0 0
Comcast Corp Cl A SPL common 200300200 491,256 12,000 SH sole 12,000 0 0
CommScope Inc common 203372107 7,887,163 321,925 SH sole 321,925 0 0
Community Bancshares Inc. SC common 20343F190 1,095,996 95,304 SH sole 95,304 0 0
Corning Inc common 219350105 4,449,060 14,980 SH sole 14,980 0 0
Cousins Properties Inc common 222795106 430,630 10,000 SH sole 10,000 0 0
Cree Inc. common 225447101 5,192,306 44,665 SH sole 44,665 0 0
CT Communication Cl B common 126426204 321,758 15,840 SH sole 15,840 0 0
Cypress Semiconductor Corp. common 232806109 365,754 8,800 SH sole 8,800 0 0
Dallas Semiconductor Corp. common 235204104 634,159 19,290 SH sole 19,290 0 0
Devon Energy Corp common 25179M103 234,585 3,900 SH sole 3,900 0 0
Dimon, Inc. common 254394109 5,359,721 1,649,145 SH sole 1,649,145 0 0
Disney, Walt Company common 254687106 1,659,935 43,397 SH sole 43,397 0 0
Duke Energy Corp. common 264399106 869,076 10,135 SH sole 10,135 0 0
Dupont de nemours E.I. common 263534109 321,227 7,752 SH sole 7,752 0 0
EMC Corp. MASS common 268648102 12,099,198 122,060 SH sole 122,060 0 0
Emerson Electric common 291011104 373,056 5,568 SH sole 5,568 0 0
Exxon/Mobil Corporation common 302290101 4,752,412 53,323 SH sole 53,323 0 0
First Union Corporation common 337358105 2,610,511 81,102 SH sole 81,102 0 0
General Electric common 369604103 13,063,621 226,453 SH sole 226,453 0 0
Gillette Co. common 375766102 1,117,675 36,200 SH sole 36,200 0 0
Great Lakes Chem. Corp. common 390568103 2,235,811 76,275 SH sole 76,275 0 0
Guidant Corporation common 401698105 19,994,384 282,856 SH sole 282,856 0 0
Harley Davidson common 412822108 254,695 5,320 SH sole 5,320 0 0
Hewlett Packard common 428236103 11,061,977 114,041 SH sole 114,041 0 0
Highwood Properties Inc REIT common 431284108 412,256 17,450 SH sole 17,450 0 0
Home Depot, Inc. common 437076102 504,523 9,508 SH sole 9,508 0 0
Honeywell International common 438516106 330,778 9,285 SH sole 9,285 0 0
Houston Exploration Co common 442120101 693,113 27,450 SH sole 27,450 0 0
Hubbell Inc. Class B common 443510201 638,104 25,460 SH sole 25,460 0 0
Innes Street Financial Corp common 45768F103 167,813 15,000 SH sole 15,000 0 0
Insmed Inc common 457669208 152,105 11,534 SH sole 11,534 0 0
Intel Corp common 458140100 10,889,333 261,999 SH sole 261,999 0 0
International Business Machines common 459200101 1,030,050 9,156 SH sole 9,156 0 0
IRT Properties Company common 450058102 792,085 90,524 SH sole 90,524 0 0
JDS Uniphase Corporation common 46612J101 511,315 5,400 SH sole 5,400 0 0
Jefferson Pilot Corp common 475070108 858,076 12,642 SH sole 12,642 0 0
Johnson & Johnson common 478160104 955,443 10,171 SH sole 10,171 0 0
Kaufman & Broad Home Corp common 486168107 471,415 17,500 SH sole 17,500 0 0
Koninklijke Philips Electronics NV common 718337540 9,493,523 223,377 SH sole 223,377 0 0
KS Bancorp common 48266R108 876,232 62,588 SH sole 62,588 0 0
Kroger Company common 501044101 451,260 20,000 SH sole 20,000 0 0
Latin American Discovery Fund common 51828C106 731,472 69,664 SH sole 69,664 0 0
Leggett & Platt, Inc. common 524660107 2,202,024 139,254 SH sole 139,254 0 0
Lilly, Eli & Co. common 532457108 685,506 8,450 SH sole 8,450 0 0
Louis Dreyfus Natural Gas Co common 546011107 2,881,728 72,725 SH sole 72,725 0 0
Lowes Companies Inc. common 548661107 5,429,247 120,986 SH sole 120,986 0 0
Martin Marietta Materials common 573284106 5,920,427 154,985 SH sole 154,985 0 0
McDonalds Corporation common 580135101 1,290,455 42,748 SH sole 42,748 0 0
Medtronics, Inc. common 585055106 393,105 7,587 SH sole 7,587 0 0
Mellon Financial Corp common 58551A108 1,029,525 22,200 SH sole 22,200 0 0
Merck & Co. common 589331107 14,399,190 193,440 SH sole 193,440 0 0
Methode Electronics, Inc. Class A common 591520200 797,634 18,000 SH sole 18,000 0 0
Microsoft Corporation common 594918104 17,244,671 285,922 SH sole 285,922 0 0
Minnesota Mining & Mfg. common 604059105 7,441,723 81,665 SH sole 81,665 0 0
Morgan, JP & Co. common 616880100 427,552 2,617 SH sole 2,617 0 0
National Commerce Bancorp common 635449101 1,852,898 92,933 SH sole 92,933 0 0
New York Times Cl A common 650111107 630,816 16,046 SH sole 16,046 0 0
Newell Rubbermaid, Inc. common 651229106 310,257 13,600 SH sole 13,600 0 0
Newsedge Corp common 65249Q106 19,688 10,500 SH sole 10,500 0 0
Nokia Corp. common 654902204 8,064,818 202,570 SH sole 202,570 0 0
Oracle Corp common 68389X105 478,406 6,075 SH sole 6,075 0 0
Peoples Bancorp NC common 710577107 433,896 34,539 SH sole 34,539 0 0
Pepsico, Inc. common 713448108 14,336,360 311,660 SH sole 311,660 0 0
Pfizer, Inc. common 717081103 3,446,392 76,693 SH sole 76,693 0 0
Pharmacia Corp common 71713U102 464,230 7,713 SH sole 7,713 0 0
Pharmanetics, Inc. common 71713J107 7,498,844 394,676 SH sole 394,676 0 0
Philip Morris Cos. Inc. common 718154107 635,184 21,577 SH sole 21,577 0 0
Polaris Industries Inc common 731068102 211,500 6,000 SH sole 6,000 0 0
Post PPTYS, Inc. common 737464107 598,991 13,750 SH sole 13,750 0 0
Proctor & Gamble common 742718109 1,281,576 19,128 SH sole 19,128 0 0
PSINET, Inc common 74437C101 258,913 26,900 SH sole 26,900 0 0
Qualcomm, Inc common 747525103 252,938 3,550 SH sole 3,550 0 0
Quitman Bancorp common 748803103 122,351 13,500 SH sole 13,500 0 0
RF Micro Devices, Inc. common 749941100 2,256,608 70,519 SH sole 70,519 0 0
Sara Lee Corporation common 803111103 806,629 39,710 SH sole 39,710 0 0
SBC Communications Inc common 78387G103 218,250 4,365 SH sole 4,365 0 0
Scana Corp common 80589M102 308,750 10,000 SH sole 10,000 0 0
Schering-Plough Corp common 806605101 1,228,809 26,426 SH sole 26,426 0 0
Sealed Air Corp. common 812211K100 561,100 12,400 SH sole 12,400 0 0
Security Bancorp Inc TN common 81377P109 319,200 22,800 SH sole 22,800 0 0
ServiceMaster Co. common 81760N109 3,743,929 379,132 SH sole 379,132 0 0
SmithKline Beecham PLC ADR common 832378301 439,200 6,400 SH sole 6,400 0 0
Sonoco Products common 835495102 2,466,272 136,541 SH sole 136,541 0 0
Southcoast Financial Corp common 84129R100 209,000 22,000 SH sole 22,000 0 0
Southern Community Bank/Trust common 842630105 524,000 52,400 SH sole 52,400 0 0
Southern Financial Bancorp common 842870107 1,538,686 107,039 SH sole 107,039 0 0
Spherion Corporation common 848420105 138,594 11,610 SH sole 11,610 0 0
Sprint Corp common 852061100 864,484 29,492 SH sole 29,492 0 0
Steelcase Inc. common 858155203 398,650 23,800 SH sole 23,800 0 0
Suiza Foods Corporation common 865077101 1,267,188 25,000 SH sole 25,000 0 0
Sun Microsystems, Inc. common 866810104 1,949,959 16,702 SH sole 16,702 0 0
Suntrust Banks, Inc. common 867914103 224,208 4,501 SH sole 4,501 0 0
Sysco Corporation common 871829107 13,670,431 295,178 SH sole 295,178 0 0
TCF Financial Corp common 872275102 511,249 13,588 SH sole 13,588 0 0
Tri Continental Corp common 895436103 290,667 11,126 SH sole 11,126 0 0
Triad Guaranty Inc. common 895925105 22,965,542 771,951 SH sole 771,951 0 0
Tribune Co common 896047107 13,051,771 299,181 SH sole 299,181 0 0
Tricon Global Restaurants Inc common 895953107 331,638 10,829 SH sole 10,829 0 0
Tyco International Ltd common 902124106 1,070,181 20,630 SH sole 20,630 0 0
Unifirst Corporation - Mass common 904708104 355,000 35,500 SH sole 35,500 0 0
US Bancorp Del common 911596104 784,875 34,500 SH sole 34,500 0 0
Vaughn-Bassett Furniture Co common 92238J109 236,292 5,626 SH sole 5,626 0 0
VF Corporation common 918204108 2,540,519 102,905 SH sole 102,905 0 0
Wachovia Corporation common 929771103 2,164,631 38,135 SH sole 38,135 0 0
Wallace Computer Service common 932270101 2,465,544 161,675 SH sole 161,675 0 0
Wal-Mart Stores common 931142103 879,003 18,265 SH sole 18,265 0 0
Waste Management Inc common 94106L109 278,992 16,000 SH sole 16,000 0 0
Wellington Hall Ltd common 949535207 875 12,500 SH sole 12,500 0 0
Williams Companies common 969457100 267,527 6,332 SH sole 6,332 0 0
Worldcom Inc common 98157D106 5,522,114 181,798 SH sole 181,798 0 0
Grand Total 9/30/00 412,100,108
</TABLE>
