13F-HR 1 0001.txt 13F-HR FOR QUARTER ENDED 12/31/00 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 12/31/00 If amended report check here: [ ]: Amendment Number: This Amendment (Check Only One): [ ] Is a Restatement [ ] Adds New Holdings Entries Salem Investment Counselors, Inc. ---------------------------------------- Name of Institutional Investment Manager 480 Shepherd Street, Suite 200, Winston-Salem, NC 27103 --------------------------------------------------------- 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 8th day of February, 2001. 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 -------- 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 Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 ----------------------- Form 13F Information Table Entry Total: 155 --------------------------- Form 13F Information Table Value Total: $403,728,703 -------------------------- List of Other Reporting Managers: None 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 Abbott Labs common 002824100 1,240,207 25,604 SH sole 25,604 0 0 Agilent Technologies, Inc common 00846U101 1,806,093 32,988 SH sole 32,988 0 0 Allmerica Financial Corporation common 019754100 236,930 3,268 SH sole 3,268 0 0 America OnLine, Inc. common 02364J104 5,240,880 150,600 SH sole 150,600 0 0 American Capital Strategies common 024937104 251,880 10,000 SH sole 10,000 0 0 American Gen Corp common 026351106 311,167 3,818 SH sole 3,818 0 0 American Home Products common 026609107 2,975,919 46,828 SH sole 46,828 0 0 American Int'l Group, Inc. common 026874107 233,593 2,370 SH sole 2,370 0 0 AmSouth Bancorporation common 032165102 393,740 25,819 SH sole 25,819 0 0 Analysts Int'l Corp common 032681108 85,507 22,425 SH sole 22,425 0 0 Anheuser Busch Company, Inc. common 035229103 237,965 5,230 SH sole 5,230 0 0 Annaly Mortgage Management, Inc. common 035710409 90,630 10,000 SH sole 10,000 0 0 Apollo Group Inc Cl A common 037604105 393,440 8,000 SH sole 8,000 0 0 Asia Tigers Fund, Inc. common 04516T105 528,686 79,050 SH sole 79,050 0 0 AT&T Corp common 001957109 521,952 30,148 SH sole 30,148 0 0 AT&T Corp Liberty Media Grp Cl A common 001957208 2,857,616 210,692 SH sole 210,692 0 0 Bank of America Corp. common 060505104 11,456,777 249,739 SH sole 249,739 0 0 Bank of Granite Corp common 062401104 605,337 26,036 SH sole 26,036 0 0 BB&T Corporation common 054937107 3,716,561 99,605 SH sole 99,605 0 0 Berkshire Hathaway, Inc. DEL CL B common 084670207 4,945,754 2,101 SH sole 2,101 0 0 Berkshire Hathaway, Inc. DEL CL A common 084670108 1,420,000 20 SH sole 20 0 0 BNP Residential Property Inc common 096903109 466,125 62,150 SH sole 62,150 0 0 Boeing Company common 097023105 270,666 4,101 SH sole 4,101 0 0 Boston Acoustics common 100534106 161,078 10,750 SH sole 10,750 0 0 BP Amoco PLC ADR common 055622104 1,036,159 21,643 SH sole 21,643 0 0 Bristol Myers Squibb Co. common 110122108 1,998,988 27,036 SH sole 27,036 0 0 Cablevision System Corp common 12686C109 428,937 5,050 SH sole 5,050 0 0 Cable Design Technologies Corp common 126924109 278,625 16,573 SH sole 16,573 0 0 Callon Petroleum common 13123X102 1,102,259 66,051 SH sole 66,051 0 0 Capital Bk Raleigh NC common 139808109 395,841 45,239 SH sole 45,239 0 0 Capital One Financial Corp. common 14040H105 10,566,935 160,560 SH sole 160,560 0 0 Cardinal Health Inc. common 14149Y108 13,012,221 130,612 SH sole 130,612 0 0 Cenit Bancorp, Inc. common 15131W109 610,050 49,800 SH sole 49,800 0 0 Cincinnati Financial Corp common 172062101 937,315 23,692 SH sole 23,692 0 0 Cisco Systems Inc. common 17275R102 5,956,596 155,728 SH sole 155,728 0 0 Citigroup Inc. common 172967101 6,534,736 127,974 SH sole 127,974 0 0 Clayton Homes common 184190106 3,785,605 329,183 SH sole 329,183 0 0 Coca Cola Company common 191216100 5,369,125 88,108 SH sole 88,108 0 0 Coddle Creek Financial Inc common 191891100 2,109,411 55,148 SH sole 55,148 0 0 Colgate Palmolive Co common 194162103 200,105 3,100 SH sole 3,100 0 0 Comcast Corp Cl A SPL common 200300200 501,000 12,000 SH sole 12,000 0 0 CommScope Inc common 203372107 5,319,125 321,145 SH sole 321,145 0 0 Community Bancshares Inc. SC common 20343F190 1,048,344 95,304 SH sole 95,304 0 0 Corning Inc common 219350105 2,956,525 55,981 SH sole 55,981 0 0 Cousins Properties Inc common 222795106 419,070 15,000 SH sole 15,000 0 0 Cree Inc. common 225447101 3,228,169 90,855 SH sole 90,855 0 0 CT Communication Cl B common 126426204 222,758 15,840 SH sole 15,840 0 0 Dallas Semiconductor Corp. common 235204104 473,806 18,490 SH sole 18,490 0 0 Denbury Resources Inc common 247916208 170,500 15,500 SH sole 15,500 0 0 Devon Energy Corp common 25179M103 400,878 6,575 SH sole 6,575 0 0 Dimon, Inc. common 254394109 7,200,298 1,309,145 SH sole 1,309,145 0 0 Disney, Walt Company common 254687106 1,468,575 50,749 SH sole 50,749 0 0 Duke Energy Corp. common 264399106 912,601 10,705 SH sole 10,705 0 0 Dupont de nemours E.I. common 263534109 385,103 7,971 SH sole 7,971 0 0 EMC Corp. MASS common 268648102 8,058,005 121,173 SH sole 121,173 0 0 Emerson Electric common 291011104 448,682 5,693 SH sole 5,693 0 0 Enron Corp common 293561106 247,713 2,980 SH sole 2,980 0 0 Exxon/Mobil Corporation common 302290101 4,954,249 56,986 SH sole 56,986 0 0 Federal National Mortgage common 313586109 416,400 4,800 SH sole 4,800 0 0 First Commonwealth Fund common 319829107 144,000 16,000 SH sole 16,000 0 0 First Union Corporation common 337358105 1,973,165 70,944 SH sole 70,944 0 0 Firststar Corp common 33763V109 311,922 13,416 SH sole 13,416 0 0 General Electric common 369604103 11,412,360 238,065 SH sole 238,065 0 0 Gillette Co. common 375766102 1,137,938 31,500 SH sole 31,500 0 0 Great Lakes Chem. Corp. common 390568103 2,878,537 77,405 SH sole 77,405 0 0 Guidant Corporation common 401698105 15,359,439 284,761 SH sole 284,761 0 0 Harley Davidson common 412822108 271,890 6,840 SH sole 6,840 0 0 Hewlett Packard common 428236103 7,372,738 233,588 SH sole 233,588 0 0 Highwood Properties Inc REIT common 431284108 499,988 20,100 SH sole 20,100 0 0 Home Depot, Inc. common 437076102 881,860 19,302 SH sole 19,302 0 0 Honeywell International common 438516106 336,395 7,110 SH sole 7,110 0 0 Houston Exploration Co common 442120101 1,216,188 31,900 SH sole 31,900 0 0 Hubbell Inc. Class B common 443510201 702,674 26,516 SH sole 26,516 0 0 Innes Street Financial Corp common 45768F103 191,250 15,000 SH sole 15,000 0 0 Intel Corp common 458140100 8,981,588 296,912 SH sole 296,912 0 0 International Business Machines common 459200101 1,111,885 13,081 SH sole 13,081 0 0 IRT Properties Company common 450058102 947,570 116,624 SH sole 116,624 0 0 JDS Uniphase Corporation common 46612J101 552,366 13,250 SH sole 13,250 0 0 Jefferson Pilot Corp common 475070108 944,990 12,642 SH sole 12,642 0 0 Johnson & Johnson common 478160104 1,149,809 10,944 SH sole 10,944 0 0 Kaufman & Broad Home Corp common 486168107 642,040 17,500 SH sole 17,500 0 0 Kimberly Clark Corp common 494368103 381,726 5,400 SH sole 5,400 0 0 Koninklijke Philips Electronics NV common 718337540 7,893,691 217,757 SH sole 217,757 0 0 KS Bancorp common 48266R108 920,820 61,388 SH sole 61,388 0 0 Kroger Company common 501044101 541,260 20,000 SH sole 20,000 0 0 Latin American Discovery Fund common 51828C106 640,129 67,382 SH sole 67,382 0 0 Leggett & Platt, Inc. common 524660107 2,688,325 141,954 SH sole 141,954 0 0 Liberty Acorn Fund Cl Z common 53015P403 1,072,097 62,295 SH sole 62,295 0 0 Liberty Acorn In'tl Fund Cl Z common 53015P817 1,065,516 44,657 SH sole 44,657 0 0 Lilly, Eli & Co. common 532457108 786,382 8,450 SH sole 8,450 0 0 Louis Dreyfus Natural Gas Co common 546011107 3,938,773 85,975 SH sole 85,975 0 0 Lowes Companies Inc. common 548661107 6,532,200 146,791 SH sole 146,791 0 0 Martin Marietta Materials common 573284106 6,489,666 153,420 SH sole 153,420 0 0 McDonalds Corporation common 580135101 1,518,304 44,656 SH sole 44,656 0 0 Medtronics, Inc. common 585055106 627,115 10,387 SH sole 10,387 0 0 Mellon Financial Corp common 58551A108 1,269,050 25,800 SH sole 25,800 0 0 Merck & Co. common 589331107 18,076,647 193,075 SH sole 193,075 0 0 Methode Electronics, Inc. Class A common 591520200 412,884 18,000 SH sole 18,000 0 0 Microsoft Corporation common 594918104 12,919,283 296,995 SH sole 296,995 0 0 Minnesota Mining & Mfg. common 604059105 8,822,408 73,215 SH sole 73,215 0 0 Morgan, JP & Co. common 616880100 405,475 2,450 SH sole 2,450 0 0 National Commerce Bancorp common 635449101 2,404,562 97,154 SH sole 97,154 0 0 New York Times Cl A common 650111107 653,740 16,318 SH sole 16,318 0 0 Newell Rubbermaid, Inc. common 651229106 510,533 22,441 SH sole 22,441 0 0 Nokia Corp. common 654902204 8,728,928 200,665 SH sole 200,665 0 0 Nortel Networks Corp common 656568102 220,269 6,870 SH sole 6,870 0 0 Oracle Corp common 68389X105 581,551 20,010 SH sole 20,010 0 0 Peoples Bancorp NC common 710577107 466,277 34,539 SH sole 34,539 0 0 Pepsico, Inc. common 713448108 15,820,014 319,190 SH sole 319,190 0 0 Pfizer, Inc. common 717081103 3,550,694 77,189 SH sole 77,189 0 0 Pharmacia Corp common 71713U102 470,493 7,713 SH sole 7,713 0 0 Pharmanetics, Inc. common 71713J107 4,948,160 421,120 SH sole 421,120 0 0 Philip Morris Cos. Inc. common 718154107 1,222,848 27,792 SH sole 27,792 0 0 Polaris Industries Inc common 731068102 238,500 6,000 SH sole 6,000 0 0 Post PPTYS, Inc. common 737464107 598,739 15,700 SH sole 15,700 0 0 Proctor & Gamble common 742718109 1,990,443 25,376 SH sole 25,376 0 0 Qualcomm, Inc common 747525103 630,378 7,670 SH sole 7,670 0 0 Quitman Bancorp common 748803103 120,900 12,400 SH sole 12,400 0 0 RF Micro Devices, Inc. common 749941100 228,257 8,319 SH sole 8,319 0 0 Royal Dutch Petroleum common 780257804 162,186 2,678 SH sole 2,678 0 0 Sara Lee Corporation common 803111103 971,467 39,550 SH sole 39,550 0 0 Scana Corp common 80589M102 295,630 10,000 SH sole 10,000 0 0 Schering-Plough Corp common 806605101 1,488,609 26,231 SH sole 26,231 0 0 Sealed Air Corp. common 812211K100 300,730 9,860 SH sole 9,860 0 0 Security Bancorp Inc TN common 81377P109 324,275 23,800 SH sole 23,800 0 0 ServiceMaster Co. common 81760N109 4,620,677 401,798 SH sole 401,798 0 0 SmithKline Beecham PLC ADR common 832378301 398,000 6,400 SH sole 6,400 0 0 Sonoco Products common 835495102 2,956,159 136,701 SH sole 136,701 0 0 Southcoast Financial Corp common 84129R100 209,000 22,000 SH sole 22,000 0 0 Southern Community Bank/Trust common 842630105 456,183 57,928 SH sole 57,928 0 0 Southern Financial Bancorp common 842870107 1,291,754 101,314 SH sole 101,314 0 0 Spherion Corporation common 848420105 131,338 11,610 SH sole 11,610 0 0 Steelcase Inc. common 858155203 334,388 24,100 SH sole 24,100 0 0 Suiza Foods Corporation common 865077101 1,200,000 25,000 SH sole 25,000 0 0 Sun Microsystems, Inc. common 866810104 1,331,645 47,772 SH sole 47,772 0 0 Suntrust Banks, Inc. common 867914103 283,563 4,501 SH sole 4,501 0 0 Sysco Corporation common 871829107 16,980,660 566,022 SH sole 566,022 0 0 TCF Financial Corp common 872275102 605,522 13,588 SH sole 13,588 0 0 Terra Industries common 880915103 84,535 33,814 SH sole 33,814 0 0 Tri Continental Corp common 895436103 234,482 11,067 SH sole 11,067 0 0 Triad Guaranty Inc. common 895925105 26,180,311 790,349 SH sole 790,349 0 0 Tribune Co common 896047107 12,553,743 297,130 SH sole 297,130 0 0 Tricon Global Restaurants Inc common 895953107 874,599 26,503 SH sole 26,503 0 0 Tyco International Ltd common 902124106 1,160,505 20,910 SH sole 20,910 0 0 Unifirst Corporation - Mass common 904708104 374,125 36,500 SH sole 36,500 0 0 US Bancorp Del common 911596104 1,352,076 46,323 SH sole 46,323 0 0 Vaughn-Bassett Furniture Co common 92238J109 236,376 5,628 SH sole 5,628 0 0 VF Corporation common 918204108 3,729,277 102,905 SH sole 102,905 0 0 Wachovia Corporation common 929771103 2,483,972 42,735 SH sole 42,735 0 0 Walgreen Company common 931422109 673,181 16,100 SH sole 16,100 0 0 Wallace Computer Service common 932270101 2,876,825 169,225 SH sole 169,225 0 0 Wal-Mart Stores common 931142103 2,014,500 37,920 SH sole 37,920 0 0 Waste Management Inc common 94106L109 899,100 32,400 SH sole 32,400 0 0 Wells Fargo & Co common 949740104 375,616 6,745 SH sole 6,745 0 0 Williams Companies common 969457100 272,853 6,832 SH sole 6,832 0 0 Grand Total 12/31/00 403,728,703