UNITED STATES
SECURITIES AND EXCHANGE COMMSSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 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: Francis M. Reps, Investment Advisor
Address: 1201 Easy Street
Wickenburg, AZ 85390
13F file Number: 28-7362
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 ocmplete, 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: Terry Reps
Title: Assistant
Phone: 520-684-5334
Signature, Place, and Date of signing:
Terry Reps Wickenburg, Arizona January 4, 2000
Report Type (check only one):
[X] 13F HOLDING REPORT
[ ] 13F NOTICE
[ ] 13F COMBINATION REPORT
List of other Managers Reporting for this Manager:
none
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934.
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FORM 13F INFORMATION TABLE
NUMBER OF ISSUER TITLE OF CLASS CUSIP VALUE SHARES/ SH/ INVSTMNT OTHER VOTING AUTHORITY
(X$1000) PRN AM PRN DISCREETN MANAGERS SOLE SHARED NONE
AMER INTL GRP. COM 026874107 649 6000 SH SOLE 6000
AT&T COM 001957109 1005 19800 SH SOLE 19800
BRISTOL MYERS COM 110122108 565 8800 SH SOLE 8800
CABLETRON COM 126920107 858 33000 SH SOLE 33000
CITIGROUP COM 172967101 846 15200 SH SOLE 15200
CLAYTON HOMES COM 184190106 697 75875 SH SOLE 75875
COCA COLA COM 191216100 599 10300 SH SOLE 10300
COMPAQ COM 204493100 2435 90000 SH SOLE90000
COMPUTER ASSOC COM 204912109 35123 502200 SH SOLE 502200
COMPUTER SCIENCE COM 205363104 757 8000 SH SOLE 8000
COMPUWARE CORP. COM 205638109 540 14500 SH SOLE 14500
CONSECO COM 208464107 1752 98000 SH SOLE 98000
EXXON COM 30231G102 806 10000 SH SOLE10000
FIRST AM. FIN. COM 318522307 164 13200 SH SOLE 13200
GENERAL ELECTRIC COM 369604103 2043 13200 SH SOLE 13200
HOME DEPOT COM 437076102 603 8800 SH SOLE 8800
HONEYWELL COM 438516106 577 10000 SH SOLE 10000
IBM COM 459200101 918 8500 SH SOLE 8500
INTEL COM 458140100 6091 74000 SH SOLE 74000
IOWA BEEF PACKRS COM 449223106 4104 228000 SH SOLE 228000
JOHNSON & JOHNSON COM 478160104 532 5700 SH SOLE 5700
KROEGER COM 501044101 4723 262400 SH SOLE 262400
LILLY, ELI & CO. COM 532457108 765 11500 SH SOLE 11500
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NUMBER OF ISSUER TITLE OF CLASS CUSIP VALUE SHARES/ SH/ INVSTMNT OTHER VOTING AUTHORITY
(X$1000) PRN AM PRN DISCREETN MANAGERS SOLE SHARED NONE
MERCK & CO. COM 589331107 698 10400 SH SOLE 10400
MCI WORLDCOM COM 552688106 398 7500 SH SOLE 7500
MICROSOFT COM 594918104 2744 23600 SH SOLE 23600
MID ATLAN. MEDCAL COM 59523C107 1388 161000 SH SOLE 161000
NOBLE DRILLING COM 655042109 9055 276500 SH SOLE 276500
OFFSHORE INC. COM G90078109 2476 73500 SH SOLE 73500
PAN AMER. SAT. COM 697933109 14897 250900 SH SOLE 250900
PERMIAN BASIN COM 714236106 28840 4437000 SH SOLE 4437000
PFIZER INC. COM 717081103 629 19400 SH SOLE 19400
PHILIP MORRIS COM 718154107 342 14700 SH SOLE 14700
PIM COM 746909100 284 47847 SH SOLE 47857
PROCTOR & GAMBLE COM 742718109 657 6000 SH SOLE 6000
RAYTHEON COM 755111309 2481 100000 SH SOLE 100000
RCM STRATEGIC GLBL COM 74936A101 72 8000 SH SOLE 8000
ROYAL DUTCH COM 780257804 526 8700 SH SOLE 8700
SAN JUAN RYLT. TR. COM 798241105 29101 2805000 SH SOLE 2805000
TYCO INTERNATNL. COM 902124106 848 21700 SH SOLE 21700
WALMART COM 931142103 1313 19000 SH SOLE 19000
XEROX COM 984121103 136 6000 SH SOLE6000
FORM 13F HOLDINGS REPORT
Report Summary:
Number of Other Included Managers: 0
Form 13F Table Entry Total: 2
Form 13F Information Value Total: $164,037,000
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