UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Report for the Calendar Year or Quarter Ended: March 31, 1999
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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: Elias Asset Management
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Address: 500 Essjay Rd. Suite 220
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Williamsville, NY 14221
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Form 13F File Number: 28-
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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: Nicholas Verbanic
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Title: Portfolio Manager
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Phone: 716-633-3800
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Signature, Place, and Date of Signing:
/s/ Nicholas Verbanic Williamsville, NY August 12, 1999
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[Signature] [City, State] [Date]
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 96
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Form 13F Information Table Value Total: $418,893
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(thousands)
List of other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
<PAGE>
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
AT & T com 001957109 17357 217470 SH SOLE 217470
America Online com 02364J104 2160 14694 SH SOLE 14694
American Express com 025816109 18636 158265 SH SOLE 158265
American International Group com 026874107 16643 137974 SH SOLE 137974
American Precision com 029069101 2485 258150 SH SOLE 258150
Amgen com 031162100 1587 21200 SH SOLE 21200
Bank One Corp. com 06423A103 14724 267411 SH SOLE 267411
Bankamerica Corp. com 060505104 482 6823 SH SOLE 6823
Bristol Myers Squibb com 110122108 18913 294947 SH SOLE 294947
Cisco Sys Inc. com 17275R102 1118 10201 SH SOLE 10201
Citigroup com 172967101 16460 257684 SH SOLE 257684
Clear Channel Communications com 184502102 684 10200 SH SOLE 10200
Compaq Computer com 204493100 13561 427947 SH SOLE 427947
Dell Computer Corp. com 247025109 11880 290640 SH SOLE 290640
Exxon Corp com 302290101 12778 181084 SH SOLE 181084
Fannie Mae com 313586109 13210 190758 SH SOLE 190758
Federal Mogul Corp. com 313549107 325 7600 SH SOLE 7600
GATX, Corp. com 361448103 3681 111765 SH SOLE 111765
General Electric com 369604103 21042 190213 SH SOLE 190213
Gillette Inc. com 375766102 744 12510 SH SOLE 12510
Hartford Financial Svcs Grp com 416515104 710 12500 SH SOLE 12500
Home Depot Inc. com 437076102 255 4099 SH SOLE 4099
Intel Corp. com 458140100 23179 194988 SH SOLE 194988
International Business Machine com 459200101 425 2396 SH SOLE 2396
Johnson & Johnson com 478160104 1127 12050 SH SOLE 12050
Lilly, Eli & Co. com 532457108 13821 162845 SH SOLE 162845
Lucent Technologies com 549463107 15416 142741 SH SOLE 142741
MCI WorldCom Inc. com 55268B106 20233 228457 SH SOLE 228457
Media One Group, Inc. com 58440J104 850 13400 SH SOLE 13400
Merck and Co. com 589331107 20300 253355 SH SOLE 253355
Merrill-Lynch com 590188108 13343 150765 SH SOLE 150765
Microsoft, Inc. com 594918104 14418 160875 SH SOLE 160875
Motorola com 620076109 238 3255 SH SOLE 3255
Pfizer com 717081103 372 2684 SH SOLE 2684
Procter & Gamble com 742718109 13658 139453 SH SOLE 139453
QWest Communications Intl Inc. com 749121109 1218 16900 SH SOLE 16900
Schering-Plough com 806605101 12455 225435 SH SOLE 225435
Solectron com 834182107 699 14400 SH SOLE 14400
United Technologies com 913017109 14443 106640 SH SOLE 106640
Wal-Mart Stores com 931142103 14293 155040 SH SOLE 155040
Walt Disney Co. com 254687106 14429 463585 SH SOLE 463585
AT & T com 001957109 252 3162 SH SOLE 3162
Abbott Labs com 002824100 232 4950 SH SOLE 4950
American Express com 025816109 492 4181 SH SOLE 4181
American Home Products com 026609107 1208 18520 SH SOLE 18520
American International Group com 026874107 274 2268 SH SOLE 2268
Amgen com 031162100 1947 26000 SH SOLE 26000
BP Amoco PLC-Spons ADR com 055622104 401 3970 SH SOLE 3970
Banc One Corp. com 06423A103 286 5200 SH SOLE 5200
Bank of New York com 064057102 244 6800 SH SOLE 6800
Bankamerica Corp. com 060505104 272 3852 SH SOLE 3852
BellSouth Corp com 079860102 225 5612 SH SOLE 5612
Bestfoods com 08658U101 475 10100 SH SOLE 10100
Bristol Myers Squibb com 110122108 1924 30000 SH SOLE 30000
Chevron com 166751107 373 4200 SH SOLE 4200
Citigroup com 173034109 255 4000 SH SOLE 4000
Coca-Cola com 191216100 200 3260 SH SOLE 3260
Colgate - Palmolive com 194162103 405 4400 SH SOLE 4400
Colonial Bancgroup com 195493309 144 12000 SH SOLE 12000
Compaq Computer com 204493100 214 6750 SH SOLE 6750
Computer Task Group com 205477102 2803 131150 SH SOLE 131150
Corning Inc. com 219350105 312 5200 SH SOLE 5200
Dell Computer Corp. com 247025109 488 11950 SH SOLE 11950
DuPont E.I. com 263534109 558 9616 SH SOLE 9616
Exxon Corp com 302290101 2212 31348 SH SOLE 31348
Fannie Mae com 313586109 467 6750 SH SOLE 6750
General Electric com 369604103 4182 37800 SH SOLE 37800
Gillette Inc. com 375766102 1880 31634 SH SOLE 31634
Intel Corp. com 458140100 1034 8700 SH SOLE 8700
International Business Machine com 459200101 716 4040 SH SOLE 4040
Iomega Corp. com 462030107 51 10000 SH SOLE 10000
Jefferson Pilot Corp. com 475070108 206 3037 SH SOLE 3037
Lilly, Eli & Co. com 532457108 339 4000 SH SOLE 4000
Lucent Technologies com 549463107 523 4842 SH SOLE 4842
MCI WorldCom com 55268B106 226 2550 SH SOLE 2550
Mellon Bank Corp. com 585509102 285 4056 SH SOLE 4056
Merck and Co. com 589331107 1859 23200 SH SOLE 23200
Merrill-Lynch com 590188108 248 2800 SH SOLE 2800
Microsoft, Inc. com 594918104 774 8632 SH SOLE 8632
Mobil com 607059102 735 8348 SH SOLE 8348
Motorola com 620076109 249 3400 SH SOLE 3400
Pfizer com 717081103 499 3600 SH SOLE 3600
Pharmacia & Upjohn Inc. com 716941109 220 3535 SH SOLE 3535
Philip Morris com 718154107 231 6555 SH SOLE 6555
Procter & Gamble com 742718109 668 6820 SH SOLE 6820
Rand Capital Corp. com 752185108 10 10000 SH SOLE 10000
SBC Communications com 78387G103 210 4452 SH SOLE 4452
Smithkline Beecham PLC Adr Rep com 832378301 229 3200 SH SOLE 3200
Texaco Corp com 881694103 261 4600 SH SOLE 4600
Union Pacific com 907818108 299 5600 SH SOLE 5600
United Technologies com 913017109 565 4175 SH SOLE 4175
WM Wrigley Jr. Co. com 982526105 271 3000 SH SOLE 3000
Wal-Mart Stores com 931142103 201 2175 SH SOLE 2175
Walgreen and Co. com 931422109 226 8000 SH SOLE 8000
Walt Disney Co. com 254687106 441 14170 SH SOLE 14170
DuPont E.I. com 263534109 237 4080 SH SOLE 4080
</TABLE>
