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: Portfolio Advisory Services, LLC
Address: 725 South Figueroa Street
Suite 2328
Los Angeles, CA 90017
13F File Number: 28-6586
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 this Report on Behalf of Reporting Manager:
Name: Kenneth A. Culley
Title: Compliance Officer
Phone: 213-688-9671
Signature, Place, and Date of Signing:
Kenneth A. Culley Los Angeles, CA May 14, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager:
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: 88
Form 13F Information Table Value Total: $158,906
List of Other Included Managers:
No. 13F File Number Name
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<TABLE>
VALUE SHARES/
SH/ PUT/ INVSTMT -----VOTING AUTHORITY-----
NAME OF ISSUER -TITLE OF CLASS- --CUSIP-- (x$1000) PRN AMT
PRN CALL DSCRETN -MANAGERS- SOLE SHARED NONE
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<C>
D Abercrombie and Fitch Co. COM 002896207 3046 33110
SH SOLE 29320 3790
D Adobe Systems, Inc. COM 00724F101 2009 35400
SH SOLE 35400
D Amazon com Inc. COM 023135106 1550 9000
SH SOLE 9000
D AmeriTrade Holding Corp. COM 03072H109 1451 23500
SH SOLE 23500
D America Online Inc. COM 02364J104 3615 24760
SH SOLE 21580 3180
D American Eagle Outfitters Inc. COM 02553D108 2472 34480
SH SOLE 30820 3660
D Ann Taylor Stores Corp. COM 036115103 1909 43200
SH SOLE 43200
D Applied Materials, Inc. COM 038222105 1925 31210
SH SOLE 26440 4770
D Applied Micro Circuits Corp. COM 03822W109 1195 27950
SH SOLE 27950
D Aware Inc. COM 05453N100 1260 26800
SH SOLE 26800
D BJ Services COM 055482103 1821 77700
SH SOLE 77700
D Baker Hughes Inc. COM 057224107 1876 77150
SH SOLE 67210 9940
D Bed Bath & Beyond COM 075896100 1657 45400
SH SOLE 45400
D Best Buy, Inc. COM 086516101 2384 45840
SH SOLE 40120 5720
D Biogen, Inc. COM 090597105 2393 20930
SH SOLE 17900 3030
D Biomatrix Inc. COM 09060P102 1295 16600
SH SOLE 16600
D Bottomline Technologies COM 101388106 861 13500
SH SOLE 13500
D CMG Information Svcs. Inc. COM 125750109 1281 7000
SH SOLE 7000
D CSG Systems Int'l Inc. COM 126349109 2515 63760
SH SOLE 57560 6200
D Carrier Access Corp. COM 144460102 1283 16600
SH SOLE 16600
D Charles Schwab Corp. COM 808513105 3394 35310
SH SOLE 29725 5585
D Circuit City COM 172737108 2161 28200
SH SOLE 28200
D Circus Circus COM 172909103 2293 130550
SH SOLE 116720 13830
D Comverse Technology COM 205862402 1513 17800
SH SOLE 17800
D Corning Inc. COM 219350105 1200 20000
SH SOLE 20000
D Covad Communications Grp COM 222814204 842 12800
SH SOLE 12800
D Delta Airlines COM 247361108 1390 20000
SH SOLE 20000
D Donaldson Lufkin & Jenrette COM 257661108 1702 24400
SH SOLE 24400
D EarthWeb Inc. COM 27032C108 1261 23000
SH SOLE 23000
D Federal Express Corp. COM 31304N107 1941 20910
SH SOLE 18110 2800
D Gap, Inc. COM 364760108 2478 36810
SH SOLE 32610 4200
D General Motors COM 370442105 1870 21530
SH SOLE 18640 2890
D GeoTel Communications COM 373656107 1574 34300
SH SOLE 34300
D Georgia Pacific COM 373298108 1574 21200
SH SOLE 21200
D Go2Net Inc. COM 383486107 1194 9000
SH SOLE 9000
D Halliburton Co. COM 406216101 1398 36300
SH SOLE 36300
D Harrahs Entertainment COM 413619107 1279 67100
SH SOLE 67100
D Immunex Corp. COM 452528102 1532 18400
SH SOLE 18400
D Infospace.Com COM 45678T102 904 10200
SH SOLE 10200
D Intuit COM 461202103 1618 15900
SH SOLE 15900
D K Swiss Inc. COM 482686102 1068 42300
SH SOLE 42300
D Knight Trimark Group COM 499067106 1849 27600
SH SOLE 27600
D Laser Vision Centers COM 51807H100 1292 33900
SH SOLE 33900
D Lexmark International Group COM 529771107 2503 22400
SH SOLE 19840 2560
D Linens and Things Inc. COM 535679104 1702 37500
SH SOLE 37500
D Lowes Companies COM 548661107 2165 35790
SH SOLE 31110 4680
D Lucent Technologies COM 549463107 1347 12500
SH SOLE 12500
D MCI WorldCom Inc. COM 55268B106 2681 30270
SH SOLE 26470 3800
D MedImmune Inc. COM 584699102 1237 20900
SH SOLE 20900
D Mercury Interactive Corp. COM 589405109 1628 45700
SH SOLE 45700
D Microsoft Corp. COM 594918104 1977 22060
SH SOLE 18800 3260
D Mirage Resorts COM 60462E104 1768 83200
SH SOLE 83200
D Morgan Stanley Dean Witter and COM 617446448 2357 23580
SH SOLE 20870 2710
D Motorola COM 620076109 2440 33310
SH SOLE 29780 3530
D NEXTLINK Communications COM 65333H707 1266 22600
SH SOLE 22600
D Nabors Industries Inc COM 629568106 1271 69900
SH SOLE 69900
D NetGravity Inc. COM 641114103 1262 30500
SH SOLE 30500
D Nextel Communications COM 65332V103 1326 36200
SH SOLE 36200
D Nike Inc. Cl B COM 654106103 2088 36200
SH SOLE 36200
D Noble Drilling COM 655042109 1293 74700
SH SOLE 74700
D Novell, Inc. COM 670006105 1693 67200
SH SOLE 67200
D Parametric Technology COM 699173100 1343 68000
SH SOLE 68000
D Peregrine Systems Inc. COM 71366Q101 1348 40100
SH SOLE 40100
D Providian Financial Corp. COM 74406A102 3149 28630
SH SOLE 25115 3515
D Qualcomm Corp. COM 747525103 3296 26500
SH SOLE 26500
D Qwest Communications Int'l COM 749121109 1521 21100
SH SOLE 21100
D Rexall Sundown Inc. COM 761648104 1151 60000
SH SOLE 60000
D Rowan Cos. Inc. COM 779382100 889 70100
SH SOLE 70100
D SDL Inc. COM 784076101 1633 18000
SH SOLE 18000
D Schlumberger COM 806857108 2489 41360
SH SOLE 36960 4400
D Smith International COM 832110100 2438 60940
SH SOLE 54260 6680
D Smurfit Stone Container Corp COM 832727101 1165 60300
SH SOLE 60300
D TMP Worldwide Inc. COM 872941109 1948 30050
SH SOLE 25430 4620
D Tellabs COM 879664100 3018 30870
SH SOLE 27760 3110
D Tommy Hilfiger Corp. COM G8915Z102 2490 36150
SH SOLE 32330 3820
D TranSwitch Corp. COM 894065101 1706 37700
SH SOLE 37700
D Tricon Global Restaurants COM 895953107 1264 18000
SH SOLE 18000
D Tyco International COM 902124106 1972 27480
SH SOLE 24080 3400
D Uniphase Corp. COM 909149106 1784 15500
SH SOLE 15500
D United Air Lines COM 902549500 2480 31900
SH SOLE 28380 3520
D VISX Inc. COM 92844S105 3687 34280
SH SOLE 31570 2710
D Verisign Inc. COM 92343E102 1725 11200
SH SOLE 11200
D Veritas Software Corp. COM 923436109 2315 28670
SH SOLE 24900 3770
D Waters Corporation COM 941848103 1534 14600
SH SOLE 14600
D Weatherford Int'l Inc. COM 947074100 1163 44500
SH SOLE 44500
D Williams Companies COM 969457100 1505 38100
SH SOLE 38100
D Xilynx Inc. COM 983919101 1391 34300
SH SOLE 34300
D eBay Inc. COM 278642103 1373 10000
SH SOLE 10000
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