UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FROM 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 the Report:
Name: Emerging Growth Advisors, Inc.
Address: World Trade Center Baltimore
401 E. Pratt St., Suite 211
Baltimore, MD 21202-3041
13F File Number: 28-6448
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct and complete, and
that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form.
Person Signing the Report on Behalf of Reporting Manager:
Name: Peter S. Welles
Title: President
Phone: 410-332-1021
Signature, Place, and Date of Signing:
Peter S. Welles Baltimore, MD May 10,1999
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 57
Form 13F Information Table Value Total: $140,988
List of Other Included Managers: None
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FORM 13F INFORMATION TABLE
Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column8
VALUE SHARES/ SH/PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLAS CUSIP (x$1000) PRN AMT PRNCALL DISCRETION MANAGERS SOLE SHARED NONE
AES Corp Common 00130H105 2,064 55,400sh sole 55,400
AFC Cable Systems Inc. Common 000950105 4,463 150,000sh sole 150,000
Adaptec, Inc. Common 00651F108 1,163 51,000sh sole 51,000
ATMI, Inc. Common 00207R101 4,282 214,100sh sole 214,100
Allied Signal Inc. Common 019512102 49 1,000sh sole 1,000
American SuperconductorCommon 0301111086 -68 -7,500sh sole -7,500
Aspect Telecomm Common 045237104 1,723 260,000sh sole 260,000
Atrix Laboratories, IncCommon 04962L101 258 22,900sh sole 22,900
AXENT Technologies, IncCommon 05459C108 3,761 156,300sh sole 156,300
Bio-Plexus Inc. Common 09057C106 252 112,000sh sole 112,000
Brunswick Technologies Common 1173941063 1,438 250,000sh sole 250,000
Carnival Corp. Class A 143658102 2,914 60,000sh sole 60,000
Casa Ole' Restaurants Common 14712P1049 295 75,000sh sole 75,000
Checkpoint Sys Inc. Common 162825103 2,382 286,600sh sole 286,600
Converse Technology Common 2125401081 7,225 85,000sh sole 85,000
Dallas Semiconductor CoCommon 235204104 4,828 125,000sh sole 125,000
Documentum, Inc. Common 256159104 2,337 135,000sh sole 135,000
Dollar Tree Stores Inc.Common 256747106 1,392 45,000sh sole 45,000
Donnkenny Inc. Del Common 258006105 56 57,300sh sole 57,300
Dura Pharmaceuticals Common 26632S109 537 38,000sh sole 38,000
E M C Corp Mass Common 268648102 7,026 55,000sh sole 55,000
Eateries Inc. Common 277851101 402 107,250sh sole 107,250
Elan PLC ADR 284131208 2,093 30,000sh sole 30,000
GenRad, Inc. Common 372447102 2,592 180,300sh sole 180,300
Gillette Co. Common 375766102 83 1,400sh sole 1,400
Health Mgmt Assoc Inc NClass A 421933102 1,584 130,000sh sole 130,000
Hirsch Intl Corp. Class A 433550100 638 283,650sh sole 283,650
Interlink Computer ScieCommon 4587471024 265 40,000sh sole 40,000
JPM Company Common 4659331098 2,066 190,000sh sole 190,000
Legato Systems Common 524651106 13,526 262,000sh sole 262,000
Lifeline Systems, Inc. Common 532192101 595 25,000sh sole 25,000
Lo Jack Corp. Common 539451104 3,479 452,600sh sole 452,600
Mansur Industries Common 564491108 894 100,000sh sole 100,000
Mapics, Inc Common 564910107 517 67,300sh sole 67,300
Molecular Devices Corp Common 60851C107 7,058 261,400sh sole 261,400
Neoware Systems Common 64065P102 16 15,600sh sole 15,600
Network Appliances Inc Common 64120l104 7,088 140,000sh sole 140,000
Nextel Comm Inc. Class A 65332V103 3,296 90,000sh sole 90,000
P- Com Inc. Common 693262107 1,144 150,000sh sole 150,000
Planar Systems Common 726900103 2,402 312,500sh sole 312,500
Platinum Software Corp.Common 72764R105 1,836 248,997sh sole 248,997
Project Software Common 74339P101 4,043 165,000sh sole 165,000
Proxim, Inc. Common 744284100 2,588 90,000sh sole 90,000
R.G. Barry Corp. Common 068798107 821 89,942sh sole 89,942
Resound Common 761194109 300 80,000sh sole 80,000
Safeskin Corp. Common 786454108 707 95,000sh sole 95,000
Sawtek Inc. Common 805468105 2,531 75,000sh sole 75,000
Summit Design, Inc. Common 86605U101 773 225,000sh sole 225,000
SymmetriCom, Inc. Common 871543104 911 144,300sh sole 144,300
TJX Cos Inc new Common 872540109 3,400 100,000sh sole 100,000
Tower Automotive Inc. Common 891707101 1,304 70,000sh sole 70,000
Transcrypt Intl Inc. Common 89363A101 943 397,000sh sole 397,000
Uniphase Corp. Common 909149106 18,418 159,980sh sole 159,980
UroCor, Inc. Common 91727P105 775 159,000sh sole 159,000
Visio Corporation Common 927914101 2,531 90,000sh sole 90,000
Westaff, Inc. Common 957070105 311 60,000sh sole 60,000
Zitel Corp. Common 989913108 681 294,450sh sole 294,450
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