13F-HR 1 a72156e13f-hr.txt FORM 13F-HR 1 ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0006 Expires: February 28, 1997 Estimated average burden hours per response.......24.60 ------------------------------ ------------------------------ SEC USE ONLY ------------------------------ ------------------------------ 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, 2001 -------------------------------------------------------------------------------- (Please read instructions before preparing form.) -------------------------------------------------------------------------------- If amended report check here: [ ] Salem Investment Counselors, Inc. -------------------------------------------------------------------------------- Name of Institutional Investment Manager 480 Shepherd Street Winston-Salem NC 27103 -------------------------------------------------------------------------------- Business Address (Street) (City) (State) (Zip) Dale M. Brown, Vice President 336.768.7230 -------------------------------------------------------------------------------- Name, Phone No., and Title of Person Duly Authorized to Submit This Report. -------------------------------------------------------------------------------- ATTENTION INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. SEE 18 U.S.C. AND 15 U.S.C. 78ff(a) -------------------------------------------------------------------------------- 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 the 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 30th day of April, 2001. Salem Investment Counselors, Inc. ------------------------------------------------ (Name of Institutional Investment Manager) /s/ DALE M. BROWN ------------------------------------------------ (Manual Signature of Person Duly Authorized to Submit This Report) Name and 13F file numbers of ALL Institutional Investment Managers with respect to which this schedule is filled (other than the one filing this report): (List in alphabetical order). 13F File Numbers will be assigned to Institutional Investment Managers after they file their first report. Name: 13F File No.: Name: 13F File No.: ----------------------- ------------- ----------------------- ------------- 1. 6. ----------------------- ------------- ----------------------- ------------- 2. 7. ----------------------- ------------- ----------------------- ------------- 3. 8. ----------------------- ------------- ----------------------- ------------- 4. 9. ----------------------- ------------- ----------------------- ------------- 5. 10. ----------------------- ------------- ----------------------- ------------- 2 FORM 13F NAME OF REPORTING MANAGER: SALEM INVESTMENT COUNSELORS, INC.
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8 NAME OF ISSUER TITLE OF CUSIP FAIR MARKET SHARES OF (a) SOLE (b) SHARED MANAGERS (a)SOLE (b)SHARED (c) NONE CLASS NUMBER VALUE PRINCIPAL AS DEFINED SHARED SEE INSTR. AMOUNT IN INSTR. V. OTHER V. Abbott Labs common 002824100 1,126,708 23,876 23,876 0 0 23,876 0 0 Abraxas Petroleum Corporation common 003830106 280,500 55,000 55,000 0 0 55,000 0 0 Acorn Fund common 004851101 1,016,654 62,295 62,295 0 0 62,295 0 0 Agilent Technologies, Inc common 00846U101 480,925 15,650 15,650 0 0 15,650 0 0 Allmerica Financial Corporation common 019754100 230,962 4,451 4,451 0 0 4,451 0 0 American Capital Strategies common 024937104 254,380 10,000 10,000 0 0 10,000 0 0 American Gen Corp common 026351106 292,077 7,636 7,636 0 0 7,636 0 0 American Home Products common 026609107 2,695,450 45,880 45,880 0 0 45,880 0 0 American Int'l Group, Inc. common 026874107 428,985 5,329 5,329 0 0 5,329 0 0 AmSouth Bancorporation common 032165102 421,444 25,071 25,071 0 0 25,071 0 0 Annaly Mortgage Management, Inc. common 035710409 112,600 10,000 10,000 0 0 10,000 0 0 AOL Time Warner common 02364J104 4,110,498 103,020 103,020 0 0 103,020 0 0 Apollo Group Inc CI A common 037604105 246,075 7,500 7,500 0 0 7,500 0 0 Asia Tigers Fund, Inc. common 04516T105 503,425 77,450 77,450 0 0 77,450 0 0 AT&T Corp common 001957109 237,431 11,147 11,147 0 0 11,147 0 0 AT&T Corp Liberty Media Grp CI A common 001957208 3,475,570 248,255 248,255 0 0 248,255 0 0 Automatic Data Processing common 053015103 600,355 11,040 11,040 0 0 11,040 0 0 Bank of America Corp. common 060505104 13,700,421 250,236 250,236 0 0 250,236 0 0 BB&T Corporation common 054937107 3,880,763 110,343 110,343 0 0 110,343 0 0 Bellsouth Corp common 079860102 203,004 4,961 4,961 0 0 4,961 0 0 Berkshire Hathaway, Inc. DEL CL B common 084670207 6,512,768 2,993 2,993 0 0 2,993 0 0 Berkshire Hathaway, Inc. DEL CL A common 084670108 1,112,650 17 17 0 0 17 0 0 BNP Residential Property Inc common 096903109 513,695 56,450 56,450 0 0 56,450 0 0 BP Amoco PLC ADR common 055622104 1,050,852 21,178 21,178 0 0 21,178 0 0 Bristol Myers Squibb Co. common 110122108 1,558,418 26,236 26,236 0 0 26,236 0 0 Cable Design Technologies Corp common 126924109 222,078 16,573 16,573 0 0 16,573 0 0 Callon Petroleum common 13123X102 815,730 66,051 66,051 0 0 66,051 0 0 Capital Bk Raleigh NC common 139808109 463,700 45,239 45,239 0 0 45,239 0 0 Capital One Financial Corp. common 14040H105 9,040,118 162,885 162,885 0 0 162,885 0 0 Cardinal Health Inc. common 14149Y108 12,227,555 126,383 126,383 0 0 126,383 0 0
3 Cenit Bancorp, Inc. common 15131W109 938,838 56,050 56,050 0 0 56,050 0 0 Cincinnati Financial Corp common 172062101 891,239 23,492 23,492 0 0 23,492 0 0 Cisco Systems Inc. common 17275R102 2,412,985 152,595 152,595 0 0 152,595 0 0 Citigroup Inc. common 172967101 6,284,561 139,719 139,719 0 0 139,719 0 0 Clayton Homes common 184190106 4,232,960 351,283 351,283 0 0 351,283 0 0 Coca Cola Company common 191216100 3,686,411 81,630 81,630 0 0 81,630 0 0 Coddle Creek Financial Inc common 191891100 1,341,938 51,613 51,613 0 0 51,613 0 0 Comcast Corp Cl A SPL common 200300200 503,256 12,000 12,000 0 0 12,000 0 0 CommScope Inc common 203372107 6,122,978 367,085 367,085 0 0 367,085 0 0 Community Bancshares Inc. SC common 20343F190 1,048,344 95,304 95,304 0 0 95,304 0 0 Corning Inc common 219350105 1,545,874 74,716 74,716 0 0 74,716 0 0 Cousins Properties Inc common 222795106 375,150 15,000 15,000 0 0 15,000 0 0 Cree Inc. common 225447101 928,664 62,035 62,035 0 0 62,035 0 0 CT Communication Cl B common 126426204 201,960 15,840 15,840 0 0 15,840 0 0 Denbury Resources Inc common 247916208 1,207,103 149,025 149,025 0 0 149,025 0 0 Devon Energy Corp common 25179M103 2,087,634 35,870 35,870 0 0 35,870 0 0 Dimon, Inc. common 254394109 10,080,417 1,309,145 1,309,145 0 0 1,309,145 0 0 Disney, Walt Company common 254687106 1,261,174 44,097 44,097 0 0 44,097 0 0 DNAPrint Genomics Inc. common 23324Q103 2,438 25,000 25,000 0 0 25,000 0 0 Duke Energy Corp. common 264399106 973,190 22,770 22,770 0 0 22,770 0 0 Dupont de nemours E.I. common 263534109 324,420 7,971 7,971 0 0 7,971 0 0 EMC Corp. MASS common 268648102 2,653,909 90,269 90,269 0 0 90,269 0 0 Emerson Electric common 291011104 344,993 5,568 5,568 0 0 5,568 0 0 Exxon/Mobil Corporation common 302290101 4,311,468 53,228 53,228 0 0 53,228 0 0 Federal National Mortgage common 313586109 398,000 5,000 5,000 0 0 5,000 0 0 Fedex Corporation common 31428X106 233,408 5,600 5,600 0 0 5,600 0 0 First Union Corporation common 337358105 1,925,715 58,355 58,355 0 0 58,355 0 0 Forest Oil Corp common 346091705 418,600 14,000 14,000 0 0 14,000 0 0 General Electric common 369604103 9,580,498 228,870 228,870 0 0 228,870 0 0 Gillette Co. common 375766102 888,345 28,500 28,500 0 0 28,500 0 0 Glaxo Smith Kline PLC common 37733W105 418,191 7,996 7,996 0 0 7,996 0 0 Great Lakes Chem. Corp. common 390568103 2,636,877 85,780 85,780 0 0 85,780 0 0 Guidant Corporation common 401698105 12,512,619 278,120 278,120 0 0 278,120 0 0 Harley Davidson common 412822108 201,894 5,320 5,320 0 0 5,320 0 0 Hewlett Packard common 428236103 7,515,088 240,329 240,329 0 0 240,329 0 0 Highwood Properties Inc REIT common 431284108 495,465 20,100 20,100 0 0 20,100 0 0 Home Depot, Inc. common 437076102 754,595 17,508 17,508 0 0 17,508 0 0
4 Honeywell International common 438516106 274,788 6,735 6,735 0 0 6,735 0 0 Houston Exploration Co common 442120101 993,750 33,125 33,125 0 0 33,125 0 0 Hubbell Inc. Class B common 443510201 581,475 24,956 24,956 0 0 24,956 0 0 Innes Street Financial Corp common 45768F103 172,500 15,000 15,000 0 0 15,000 0 0 Intel Corp common 458140100 7,495,969 284,877 284,877 0 0 284,877 0 0 International Business Machines common 459200101 812,336 8,446 8,446 0 0 8,446 0 0 IRT Properties Company common 450058102 1,068,341 116,124 116,124 0 0 116,124 0 0 JDS Uniphase Corporation common 46612J101 301,093 16,330 16,330 0 0 16,330 0 0 Jefferson Pilot Corp common 475070108 858,265 12,642 12,642 0 0 12,642 0 0 Johnson & Johnson common 478160104 1,151,892 13,169 13,169 0 0 13,169 0 0 Kaufman & Broad Home Corp common 48666K109 571,200 17,500 17,500 0 0 17,500 0 0 Kimberly Clark Corp common 494368103 203,490 3,000 3,000 0 0 3,000 0 0 Koninklijke Philips Electronics NV common 718337540 6,159,557 230,695 230,695 0 0 230,695 0 0 KS Bancorp common 48266R108 939,114 60,588 60,588 0 0 60,588 0 0 Kroger Company common 501044101 515,800 20,000 20,000 0 0 20,000 0 0 Latin American Discovery Fund common 51828C106 639,930 66,314 66,314 0 0 66,314 0 0 Leggett & Platt, Inc. common 524660107 1,793,274 93,254 93,254 0 0 93,254 0 0 Liberty Acorn In'tl Fund CI Z common 53015P817 933,778 44,657 44,657 0 0 44,657 0 0 Lilly, Eli & Co. common 532457108 647,777 8,450 8,450 0 0 8,450 0 0 Louis Dreyfus Natural Gas Co common 546011107 4,677,540 126,420 126,420 0 0 126,420 0 0 Lowes Companies Inc. common 548661107 8,648,613 147,966 147,966 0 0 147,966 0 0 Martin Marietta Materials common 573284106 6,682,764 156,505 156,505 0 0 156,505 0 0 McDonalds Corporation common 580135101 758,693 28,576 28,576 0 0 28,576 0 0 Medtronics, Inc. common 585055106 301,289 6,587 6,587 0 0 6,587 0 0 Mellon Financial Corp common 58551A108 948,168 23,400 23,400 0 0 23,400 0 0 Merck & Co. common 589331107 14,786,003 194,809 194,809 0 0 194,809 0 0 Methode Electronics, Inc. Class A common 591520200 322,866 18,000 18,000 0 0 18,000 0 0 Microsoft Corporation common 594918104 15,685,284 286,814 286,814 0 0 286,814 0 0 Minnesota Mining & Mfg. common 604059105 6,675,367 64,248 64,248 0 0 64,248 0 0 Morgan, JP & Co. common 616880100 403,382 8,984 8,984 0 0 8,984 0 0 National Commerce Bancorp common 635449101 2,170,095 87,458 87,458 0 0 87,458 0 0 New York Times CI A common 650111107 545,638 13,318 13,318 0 0 13,318 0 0 Newell Rubbermaid, Inc. common 651229106 360,400 13,600 13,600 0 0 13,600 0 0 Nokia Corp. common 654902204 5,024,160 209,340 209,340 0 0 209,340 0 0 Oracle Corp common 68389X105 355,176 23,710 23,710 0 0 23,710 0 0 Peoples Bancorp NC common 710577107 509,450 34,539 34,539 0 0 34,539 0 0 Pepsico, Inc. common 713448108 14,055,430 319,805 319,805 0 0 319,805 0 0
5 Pfizer, Inc. common 717081103 2,945,574 71,931 71,931 0 0 71,931 0 0 Pharmacia Corp common 71713U102 388,504 7,713 7,713 0 0 7,713 0 0 Pharmanetics, Inc. common 71713J107 3,490,330 410,627 410,627 0 0 410,627 0 0 Philip Morris Cos. Inc. common 718154107 1,023,829 21,577 21,577 0 0 21,577 0 0 Polaris Industries Inc common 731068102 271,200 6,000 6,000 0 0 6,000 0 0 Post PPTYS, Inc. common 737464107 598,500 17,100 17,100 0 0 17,100 0 0 Proctor & Gamble common 742718109 1,942,541 31,031 31,031 0 0 31,031 0 0 Qualcomm, Inc common 747525103 201,019 3,550 3,550 0 0 3,550 0 0 Quitman Bancorp common 748803103 99,200 12,400 12,400 0 0 12,400 0 0 Remington Oil & Gas Co common 759594302 372,938 27,000 27,000 0 0 27,000 0 0 Sara Lee Corporation common 803111103 835,729 38,727 38,727 0 0 38,727 0 0 Schering-Plough Corp common 806605101 894,072 24,475 24,475 0 0 24,475 0 0 Sealed Air Corp. common 812211K100 326,634 9,800 9,800 0 0 9,800 0 0 Security Bancorp Inc TN common 81377P109 279,125 20,300 20,300 0 0 20,300 0 0 ServiceMaster Co. common 81760N109 4,455,480 396,748 396,748 0 0 396,748 0 0 Sonoco Products common 835495102 2,870,336 133,504 133,504 0 0 133,504 0 0 Southcoast Financial Corp common 84129R100 193,600 24,200 24,200 0 0 24,200 0 0 Southern Community Bank/Trust common 842630105 443,747 54,615 54,615 0 0 54,615 0 0 Southern Financial Bancorp common 842870107 1,915,837 110,264 110,264 0 0 110,264 0 0 Spherion Corporation common 848420105 80,573 11,610 11,610 0 0 11,610 0 0 Steelcase Inc. common 858155203 285,560 23,600 23,600 0 0 23,600 0 0 Suiza Foods Corporation common 865077101 1,202,250 25,000 25,000 0 0 25,000 0 0 Sun Microsystems, Inc. common 866810104 762,813 49,630 49,630 0 0 49,630 0 0 Suntrust Banks, Inc. common 867914103 291,665 4,501 4,501 0 0 4,501 0 0 Sysco Corporation common 871829107 14,506,325 547,202 547,202 0 0 547,202 0 0 TCF Financial Corp common 872275102 513,491 13,588 13,588 0 0 13,588 0 0 Terra Industries common 880915103 132,117 27,814 27,814 0 0 27,814 0 0 Tri Continental Corp common 895436103 232,032 11,231 11,231 0 0 11,231 0 0 Triad Guaranty Inc. common 895925105 26,022,047 784,080 784,080 0 0 784,080 0 0 Tribune Co common 896047107 12,129,479 297,729 297,729 0 0 297,729 0 0 Tricon Global Restaurants Inc common 895953107 1,754,601 45,944 45,944 0 0 45,944 0 0 Tyco International Ltd common 902124106 906,101 20,960 20,960 0 0 20,960 0 0 Unifirst Corporation - Mass common 904708104 465,050 35,500 35,500 0 0 35,500 0 0 Union Planters Corp common 908068109 207,808 5,399 5,399 0 0 5,399 0 0 US Bancorp Del common 911596104 1,156,798 49,862 49,862 0 0 49,862 0 0 Vaughn-Bassett Furniture Co common 92238J109 236,376 5,628 5,628 0 0 5,628 0 0 VF Corporation common 918204108 3,543,995 101,257 101,257 0 0 101,257 0 0
6 Wachovia Corporation common 929771103 2,194,606 36,425 36,425 0 0 36,425 0 0 Wallace Computer Service common 932270101 2,598,944 159,935 159,935 0 0 159,935 0 0 Wal-Mart Stores common 931142103 1,827,595 36,190 36,190 0 0 36,190 0 0 Waste Management Inc common 94106L109 778,050 31,500 31,500 0 0 31,500 0 0 Weingarten Realty common 948741103 642,960 15,200 15,200 0 0 15,200 0 0 Wells Fargo & Co common 949740104 234,735 4,745 4,745 0 0 4,745 0 0 Williams Companies common 969457100 334,530 7,807 7,807 0 0 7,807 0 0 Grand Total 3/31/01 365,170,333