UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
REPORT FOR THE CALENDAR YEAR OR QUARTER ENDED: MARCH 31, 1999
Check here if Amendment [ ]; Amendment Number:
This Amendment (check only one.) [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Nicholas Advisors, Inc.
Address: 250 Park Avenue
Suite 2000
New York, NY 10177
13F File Number: 28-6218
The institutional investment manager filing this report and the person whom
it is signed
hereby represent that the person signing the report is authorized to submit
it, that all
information contained herein is rue, correct and complete, and that is is
understood that
all required times, statements schedules, lists and tables, are considered
integral parts
of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: STEPHEN T. B. JABLONSKI
Title: CHIEF EXECUTIVE OFFICER
Phone: 212-983-8100
Signature, Place, and Date of Signing:
STEPHEN T. B. JABLONSKI, New York, NY MAY 17 , 1999
Report type (Check only one.):
[X] 13F HOLDING REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total:
Form 13 F Information Table Value Total: $269,896
<PAGE>
<TABLE> <C> <C>
Form 13 F information
Table
Value Shares Sh/
PutInvstOther Voting Authority
Name of Issuer Title of Cl CUSIP (x$1000PRN AM PRN
CalDscreManagerSole ShareNone
A. T. & T. Corp. COM 00195710 5155 64000 SH SOLE
64000
Abbott Laboratories COM 00282410 4365 93250 SH SOLE
93250
Alcoa Inc. COM 02224910 461 11200 SH SOLE
11200
Allied Signal COM 01951210 275 5600 SH SOLE
5600
ALZA Corp. COM 02261510 539 14100 SH SOLE
14100
America Online COM 02364J10 2837 19300 SH SOLE
19300
American Express Corp COM 02581610 2799 23775 SH SOLE
23775
American Int'l Group COM 02687410 2870 23800 SH SOLE
23800
Ameritech Corp. COM 03095410 1152 20000 SH SOLE
20000
Arrow International, Inc. COM 04276410 288 13390 SH SOLE
13390
Aware, Inc. COM 05453N10 470 10000 SH SOLE
10000
Bell Atlantic Corp. COM 07785310 1416 27400 SH SOLE
27400
Boeing Co. COM 09702310 201 5938 SH SOLE
5938
Boston Scientific Corp. COM 10113710 5297130400 SH SOLE
130400
Bristol-Myers Squibb Co. COM 11012210 3347 52200 SH SOLE
52200
C.R. Bard, Inc. COM 06738310 3210 63650 SH SOLE
63650
Carnival Corp. COM 14365810 1459 30050 SH SOLE
30050
Caterpillar COM 14912310 257 5600 SH SOLE
5600
CBS, Inc. COM 12490K10 5993146850 SH SOLE
146850
Chase Manhattan Bank COM 16161A10 5403 66400 SH SOLE
66400
Chevron Corp COM 16675110 2866 32300 SH SOLE
32300
CitiGroup COM 17296710 5675 88850 SH SOLE
88850
Coca Cola COM 19121610 343 5600 SH SOLE
5600
Comcast Corp. Cl A COM 20030020 2265 36000 SH SOLE
36000
Compaq Computer Corp. COM 20449310 3735117900 SH SOLE
117900
Cornerstone US Gov't. Strat MUT FD 36090830 445353770 SH SOLE
353770
Daimler Chrysler COM D1668R12 4007 46703 SH SOLE
46703
Data Broadcasting Corp. COM 23759610 222 16000 SH SOLE
16000
Diebold, Inc. COM 25365110 3516146515 SH SOLE
146515
Disney (Walt) Co. COM 25468710 4871156500 SH SOLE
156500
Dow Jones & Co Inc COM 26056110 247 5250 SH SOLE
5250
DuPont COM 26353410 325 5600 SH SOLE
5600
Dura Pharmaceuticals, Inc. COM 26632S10 211 15000 SH SOLE
15000
Eastman Kodak COM 27746110 357 5600 SH SOLE
5600
Eclipsys Corp. COM 27885610 216 10250 SH SOLE
10250
Eli Lilly & Co. COM 53245710 431 5085 SH SOLE
5085
Endosonics Tech., Inc. COM 29264K10 208 32000 SH SOLE
32000
Ethan Allen COM 29760210 2439 58700 SH SOLE
58700
Exxon Corp COM 30229010 3228 45750 SH SOLE
45750
First Virginia Bank COM 33747710 333 7300 SH SOLE
7300
Fox Entertainment COM 35138T10 4345160200 SH SOLE
160200
General Electric COM 36960410 619 5600 SH SOLE
5600
General Electric Co. COM 36960410 8266 74725 SH SOLE
74725
General Instrument Corp. COM 37012010 5141169600 SH SOLE
169600
General Motors COM 37044210 487 5600 SH SOLE
5600
Gillette Co. COM 37576610 5685 95650 SH SOLE
95650
Goodyear Tire COM 38255010 278 5600 SH SOLE
5600
GTE Corp. w/ Rts. COM 36232010 1479 24450 SH SOLE
24450
Guidant Corp. COM 40169810 1181 19524 SH SOLE
19524
Hewlett Packard Co COM 42823610 5658 83450 SH SOLE
83450
Hibernia Corp. COM 42865610 2429184200 SH SOLE
184200
Home Depot COM 43707610 5213 83750 SH SOLE
83750
Impath Inc. COM 45255G10 716 29225 SH SOLE
29225
Intel Corp. COM 45814010 5448 45830 SH SOLE
45830
Int'l Business Machine COM 45920010 4661 26300 SH SOLE
26300
Intimate Brands Inc. COM 46115610 5430112850 SH SOLE
112850
Int'l Paper COM 46014610 236 5600 SH SOLE
5600
J.P. Morgan COM 61688010 690 5600 SH SOLE
5600
Johnson & Johnson COM 47816010 576 6170 SH SOLE
6170
Lehman Bros. Hldgs Inc. COM 52490810 6862114850 SH SOLE
114850
Liberty Media Group A COM 00195720 5190 98700 SH SOLE
98700
Limited Inc. COM 53271610 261 6600 SH SOLE
6600
Lowes Companies Inc. COM 54866110 4436 73325 SH SOLE
73325
Lucent Technologies Inc. COM 54946310 5959 55178 SH SOLE
55178
M. Stanley D. Witter COM 61744644 6730 67350 SH SOLE
67350
McDonald's Corp. COM 58013510 584 12900 SH SOLE
12900
MCI Worldcom Inc. COM 55268B10 5025 56750 SH SOLE
56750
Medtronic Inc. COM 58505510 4418 61480 SH SOLE
61480
Mellon Bank COM 58550910 3881 55150 SH SOLE
55150
Merck & Co. COM 58933110 5376 67100 SH SOLE
67100
Merrill Lynch & Co. Inc. COM 59018810 6562 74150 SH SOLE
74150
Microsoft Corp. COM 59491810 9370104550 SH SOLE
104550
Millenium Pharm COM 59990210 690 22100 SH SOLE
22100
Minnesota Min'g COM 60405910 466 6600 SH SOLE
6600
Miravant Medical Tech. COM 60469010 72 10500 SH SOLE
10500
MTA NY Trans Facs Rev Ser. MUN BD 592598RR 260250000 PRN SOLE
250000
Muni. Asst. Co. for NYC Ser MUN BD 626190E6 204200000 PRN SOLE
200000
New York City Ser D 5.3% 0 MUN BD 649664BS 207200000 PRN SOLE
200000
New York City Ser H 6.9% 02 MUN BD 649651PN 211200000 PRN SOLE
200000
N Y ST MTG AGY REV 4.95% 0 MUN BD 649885VV 123120000 PRN SOLE
120000
Nielsen Media COM 65392930 864 35000 SH SOLE
35000
Novoste Corp. COM 67010C10 451 18815 SH SOLE
18815
NYS Dorm Auth Revs City Uni MUN BD 649834FV 206200000 PRN SOLE
200000
NYS Dorm Auth Revs St Univ MUN BD 6498317B 213200000 PRN SOLE
200000
NYS Twy Auth Hwy & Brdg Ser MUN BD 650013CK 386350000 PRN SOLE
350000
NYS Twy Auth Svc Contract 5 MUN BD 650017AU 204200000 PRN SOLE
200000
Omnicare, Inc. COM 68190410 2477129965 SH SOLE
129965
Pepsico, Inc. COM 71344810 4615117775 SH SOLE
117775
Perclose, Inc. COM 71361C10 372 12000 SH SOLE
12000
Pitney Bowes Inc. COM 72447910 4446 69750 SH SOLE
69750
PLC Systems COM 69341D10 61 24000 SH SOLE
24000
Prime Hospitality Corp. 9.2 CORP BD 741917AC 10 10000 PRN SOLE
10000
Procter & Gamble COM 74271810 940 9600 SH SOLE
9600
Puerto Rico Comwlth. Ser. B MUN BD 7451442H 338325000 PRN SOLE
325000
Ralston Purina Grp. COM 75127730 3420128150 SH SOLE
128150
Royal Caribbean COM V7780T10 2691 69000 SH SOLE
69000
SBC Communications COM 78387G10 1632 34600 SH SOLE
34600
Scientific Atlanta Inc. COM 80865510 3964145500 SH SOLE
145500
Sears Roebuck & Co. COM 81238710 2860 63300 SH SOLE
63300
St. Jude Medical COM 79084910 2277 93450 SH SOLE
93450
Summit Bancorp COM 86600510 427 10950 SH SOLE
10950
TCI Satellite Ent. COM 87229810 115176150 SH SOLE
176150
Tiffany & Co. COM 88654710 224 3000 SH SOLE
3000
Time-Warner COM 88731510 5767 81450 SH SOLE
81450
Union Carbide COM 90558110 253 5600 SH SOLE
5600
United Technologies Corp. COM 91301710 785 5800 SH SOLE
5800
Viacom Inc. Cl. B COM 92552430 5946 70850 SH SOLE
70850
Wal Mart Stores Inc. COM 93114210 4766 51700 SH SOLE
51700
Wellpoint Hlth Networks A COM 94973H10 4378 57750 SH SOLE
57750
Wesley Jessen COM 95101810 606 22000 SH SOLE
22000
Xerox Corp. COM 98412110 5043 96750 SH SOLE
96750
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