AMERICAN FUND ADVISORS INC /NY/
13F-HR, 1999-05-07
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				Form 13F

			Form 13F Cover Page

Report for the 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:		American Fund Advisors, Inc.
Address:	1415 Kellum Place
		Suite 205
		Garden City, NY 11530

13F File Number:	801-14138


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:		Phyllis Palumbo
Title:		Assistant Treasurer
Phone:		516-739-1017
Signature, Place, and Date of Signing:

	Phyllis A. Palumbo  Garden City, New York   May 7, 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.
<PAGE>


			FORM 13F SUMMARY PAGE

Report Sumary:

Number of Other Included Managers:		0

Form 13F Information Table Entry Total:		136

Form 13F Information Table Value Total:	    555,521



List of Other Included Managers:






<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>
ADVANCED FIBRE COMMUNICATION   COM              00754A105     1919   200000 SH       SOLE                   200000                 
ALLAIRE CORP.                  COM              016714107      231     3400 SH       SOLE                     3400                 
ALLEGIANCE TELECOM INC.        COM              01747T102     2500   100000 SH       SOLE                   100000                 
ALLIED SIGNAL                  COM              019512102     1201    24408 SH       SOLE                    24408                 
ALLSTATE CORP.                 COM              020002101      986    26608 SH       SOLE                    26608                 
ALTERA CORP.                   COM              021441100     8366   140600 SH       SOLE                   140600                 
AMERICA ONLINE INC.            COM              023645104    49757   340800 SH       SOLE                   340800                 
AMR CORP.                      COM              001765106     4468    76300 SH       SOLE                    76300                 
ANALOG DEVICES INC.            COM              032654105     5974   200800 SH       SOLE                   200800                 
ANTENNA TV SA-ADR              COM              03672N100      130    10000 SH       SOLE                    10000                 
APPLIED MATERIALS INC.         COM              038222105     9272   150300 SH       SOLE                   150300                 
APPLIED SCIENCE & TECHNOLOGY   COM              038236105     1922   153000 SH       SOLE                   153000                 
ASCEND COMMUNICATIONS INC.     COM              043491109     6277    75000 SH       SOLE                    75000                 
ASM LITHOGRAPHY HLD NV         COM              N07059111     6777   150600 SH       SOLE                   150600                 
AT&T                           COM              001957109      432     5417 SH       SOLE                     5417                 
ATLANTIC RICHFIELD CO.         COM              048825103      244     3340 SH       SOLE                     3340                 
AUTOBYTEL.COM INC.             COM              05275N106      440    10500 SH       SOLE                    10500                 
BANK OF NEW YORK INC.          COM              064057102      230     6400 SH       SOLE                     6400                 
BEA SYSTEMS INC.               COM              073325102     2747   175800 SH       SOLE                   175800                 
BMC SOFTWARE                   COM              055921100     4651   125500 SH       SOLE                   125500                 
CADENCE DESIGN SYSTEMS INC.    COM              127387108     7805   303100 SH       SOLE                   303100                 
CBT GROUP                      COM              124853300      572    50000 SH       SOLE                    50000                 
CENDANT CORP.                  COM              151313103      526    33000 SH       SOLE                    33000                 
CHINA TELECOM HK ADR           COM              169428109     1669    50000 SH       SOLE                    50000                 
CIENA CORP.                    COM              171779101     5638   250600 SH       SOLE                   250600                 
CISCO SYSTEMS, INC.            COM              17275R102    24843   226750 SH       SOLE                   226750                 
CITIGROUP INC.                 COM              172967101     1991    31177 SH       SOLE                    31177                 
COCA-COLA CO.                  COM              191216100      583     9500 SH       SOLE                     9500                 
COMPAQ COMPUTER CORP.          COM              204493100     8865   279750 SH       SOLE                   279750                 
COMPUTER ASSOCIATES INTERNATIO COM              204912109     5954   167425 SH       SOLE                   167425                 
COMPUWARE CORP.                COM              205638109     6346   265800 SH       SOLE                   265800                 
COSTCO COMPANIES INC.          COM              22160Q102     1117    12200 SH       SOLE                    12200                 
CRITICAL PATH INC.             COM              226744100      562     7300 SH       SOLE                     7300                 
CYPRESS SEMICONDUCTOR CORP.    COM              232806909     2268   252000 SH       SOLE                   252000                 
DELL COMPUTER CORP.            COM              247025109    16979   415400 SH       SOLE                   415400                 
DESCARTES SYSTEMS              COM              249906108      407    53000 SH       SOLE                    53000                 
DIGITAL LAVA                   COM              253928105      159    16667 SH       SOLE                    16667                 
DISNEY CO., (THE WALT)         COM              254687106      772    24790 SH       SOLE                    24790                 
DOUBLECLICK INC.               COM              258609304     9103    50000 SH       SOLE                    50000                 
DUANE READE INC.               COM              263578106      691    24800 SH       SOLE                    24800                 
EARTHLINK NETWORK INC.         COM              270322100     6018   100300 SH       SOLE                   100300                 
ELK ASSOCIATES FUNDING CORP.   COM              287166102      118    12000 SH       SOLE                    12000                 
EMC CORP.                      COM              268648102    25876   202550 SH       SOLE                   202550                 
ESAT TELECOM GROUP PLC-ADR     COM              268834102      783    18700 SH       SOLE                    18700                 
EXODUS COMMUNICATIONS INC.     COM              302088109    10087    75000 SH       SOLE                    75000                 
EXXON CORPORATION              COM              302290101     1053    14929 SH       SOLE                    14929                 
FUNDTECH LTD.                  COM              M47095100     3103   103000 SH       SOLE                   103000                 
GENERAL ELECTRIC CO.           COM              369604103     3109    28104 SH       SOLE                    28104                 
GILLETTE CO.                   COM              375766102      709    11927 SH       SOLE                    11927                 
GLOBAL CROSSING LTD.           COM              G3921A100     9250   200000 SH       SOLE                   200000                 
GLOBECOMM SYSTEMS INC.         COM              37956X103     3293   560438 SH       SOLE                   560438                 
HEINZ (H.J.) CO.               COM              423074103      718    15150 SH       SOLE                    15150                 
HOME DEPOT                     COM              437076102      822    13200 SH       SOLE                    13200                 
I2 TECHNOLOGY INC.             COM              465754109     6005   225800 SH       SOLE                   225800                 
IBM CORP.                      COM              459200101      928     5234 SH       SOLE                     5234                 
INFINITY BROADCASTING CORP. A  COM              456625102     3615   140400 SH       SOLE                   140400                 
INFORMATION MGMT ASSOCIATES    COM              456923101      277   130500 SH       SOLE                   130500                 
INKTOMI CORP.                  COM              457277101     8626   100600 SH       SOLE                   100600                 
INTEL CORPORATION              COM              458140100     6497    54650 SH       SOLE                    54650                 
INTRAWARE INC.                 COM              46118M103      491    12250 SH       SOLE                    12250                 
IVILLAGE INC.                  COM              465884105      412     4100 SH       SOLE                     4100                 
JOHN HANCOCK BANK & THRIFT OPP COM              41021T105      502    54973 SH       SOLE                    54973                 
JOHNSON & JOHNSON              COM              478160104     2335    24972 SH       SOLE                    24972                 
KEANE INC.                     COM              486665102     3210   150600 SH       SOLE                   150600                 
KLA-TENCOR CORPORATION         COM              482480100     6104   125700 SH       SOLE                   125700                 
KROGER CO.                     COM              501044101     2039    34060 SH       SOLE                    34060                 
LUCENT TECHNOLOGIES            COM              549463107     1185    10971 SH       SOLE                    10971                 
LYCOS, INC.                    COM              550818108     2152    25000 SH       SOLE                    25000                 
MC DONALD'S CORP.              COM              580135101      408     9000 SH       SOLE                     9000                 
MCI WORLDCOM, INC.             COM              552683106     6443    72750 SH       SOLE                    72750                 
MERCK & CO.                    COM              589331107      272     3400 SH       SOLE                     3400                 
MERCURY INTERACTIVE CORP.      COM              589405109     7153   200800 SH       SOLE                   200800                 
METROMEDIA FIBER NETWORK       COM              591689104     9948   192000 SH       SOLE                   192000                 
MICROSOFT INC.                 COM              594918104    25185   281000 SH       SOLE                   281000                 
MICROWAVE POWER DEVICES INC.   COM              59517M103      720    90000 SH       SOLE                    90000                 
MINDSPRING ENTERPRISES INC.    COM              602683104     3442    40000 SH       SOLE                    40000                 
MODEM MEDIA POPPE TYSON        COM              607533106      628    14650 SH       SOLE                    14650                 
MONSANTO COMPANY               COM              611662107      923    20101 SH       SOLE                    20101                 
MULTEX.COM INC.                COM              625367107     3125    50000 SH       SOLE                    50000                 
NEON SYSTEMS                   COM              640509105      313     5700 SH       SOLE                     5700                 
NETGRAVITY                     COM              641114103     3310    80000 SH       SOLE                    80000                 
NETWORK APPLIANCE INC.         COM              641206104     6075   120000 SH       SOLE                   120000                 
NETWORKS ASSOCIATES INC.       COM              640938106     5524   180000 SH       SOLE                   180000                 
NOKIA CORP. ADR                COM              654902204    11712    75200 SH       SOLE                    75200                 
NORTH FORK BANCORPORATION NY   COM              659424105     1270    60124 SH       SOLE                    60124                 
NOVELL INC.                    COM              670006105     6320   250900 SH       SOLE                   250900                 
NOVELLUS SYSTEMS INC.          COM              670008101     5512   100000 SH       SOLE                   100000                 
ONEMAIN.COM INC.               COM              68267P109      484    13350 SH       SOLE                    13350                 
ONYX SOFTWARE CORP.            COM              638402101      203     5200 SH       SOLE                     5200                 
OPEN MARKET INC.               COM              68370M100     1294   100000 SH       SOLE                   100000                 
PARAMETRIC TECHNOLOGY CORP.    COM              699173100     3456   175000 SH       SOLE                   175000                 
PEPSICO INC.                   COM              713448108     1234    31500 SH       SOLE                    31500                 
PFIZER INC.                    COM              717081103     1619    11671 SH       SOLE                    11671                 
PHILIP MORRIS COS.             COM              718154107      980    27850 SH       SOLE                    27850                 
PRI AUTOMATION INC.            COM              69357H106     2530   120500 SH       SOLE                   120500                 
PRICELINE.COM INC.             COM              741503106     1827    22050 SH       SOLE                    22050                 
PRIMUS TELECOMMUNICATIONS GROU COM              741929103     6827   674300 SH       SOLE                   674300                 
QUANTUM CORPORATION            COM              747906105     4511   250600 SH       SOLE                   250600                 
QWEST COMMUNICATIONS INTL.     COM              749121109     5439    75450 SH       SOLE                    75450                 
RAMBUS INC.                    COM              750917106     6437   100000 SH       SOLE                   100000                 
REAL NETWORKS INC.             COM              75605L104    10386    85000 SH       SOLE                    85000                 
ROWECOM INC.                   COM              77957X108     2251    51600 SH       SOLE                    51600                 
SANMINA CORP.                  COM              800907107     7994   125400 SH       SOLE                   125400                 
SCHERING-PLOUGH CORP.          COM              806605101      575    10400 SH       SOLE                    10400                 
SCI SYSTEMS INC.               COM              783890106     4453   150300 SH       SOLE                   150300                 
SEAGATE TECHNOLOGY             COM              811804103     5927   200500 SH       SOLE                   200500                 
SMITH-GARDNER & ASSOCIATES     COM              832059109      706    50000 SH       SOLE                    50000                 
SPORTSLINE USA                 COM              848934105     2737    60000 SH       SOLE                    60000                 
SPRINT CORP.                   COM              852061001      245     2500 SH       SOLE                     2500                 
SYNOPSYS INC.                  COM              871607107     3225    60000 SH       SOLE                    60000                 
TAIWAN SEMICONDUCTOR MFG LTD.  COM              874039100     6549   277200 SH       SOLE                   277200                 
TECHNICLONE CORP.              COM              878517309       80    77100 SH       SOLE                    77100                 
TOOTSIE ROLL INDUSTRIES, INC.  COM              890516107      385     8368 SH       SOLE                     8368                 
UAL CORP.                      COM              902549500     3887    50000 SH       SOLE                    50000                 
UNISYS CORP.                   COM              909214108     6271   226500 SH       SOLE                   226500                 
UNITED TECHNOLOGIES            COM              913017109    11614    85750 SH       SOLE                    85750                 
VEECO INSTRUMENTS INC.         COM              922417100     5541   150000 SH       SOLE                   150000                 
VITESSE SEMICONDUCTORS         COM              928497106     7614   150400 SH       SOLE                   150400                 
WANG LABS NEW                  COM              93369N109     2944   150000 SH       SOLE                   150000                 
WASHINGTON MUTUAL INC.         COM              939322103     1342    32823 SH       SOLE                    32823                 
WINSTAR COMMUNICATIONS INC.    COM              97551S107     5713   157200 SH       SOLE                   157200                 
YAHOO! INC.                    COM              984332106    11820    70200 SH       SOLE                    70200                 
ZIFF-DAVIS INC. - ZDNET        COM              989511100      358     9950 SH       SOLE                     9950                 
DIGITAL EQUIPMENT CORP. SER A  PFD              253849202      201     7897 SH       SOLE                     7897                 
TCI COMMUNICATIONS FIN 8.72%   PFD              872285200      394    15063 SH       SOLE                    15063                 
</TABLE>


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