UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Quarter Ended: September 30, 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: AFA Financial, Inc.
Address: 1325 Airmotive Way
Suite 205
Reno, NV 89502
13F File Number: 28-2369
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: Michelle Leicher
Title: Vice President
Phone: 775-325-2300
Signature, Place, and Date of Signing
Michelle Leicher Reno, Nevada October 8, 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: 36
Form 13F Information Table Value Total: $108,564
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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
ABBOTT LABS COM 000282410 3631 98975 SH SOLE N/A 98975
ALLIED SIGNAL COM 001951210 4344 72475 SH SOLE N/A 72475
ALLSTATE CORP COM 002000210 3082 123600 SH SOLE N/A 123600
AMERICAN EXPRESS COM 002581610 1514 11214 SH SOLE N/A 11214
AMERICAN HOME PRODUCTS COM 002660910 2181 52545 SH SOLE N/A 52545
AMGEN, INC. COM 003116210 903 11075 SH SOLE N/A 11075
AT & T CORP COM 000195710 4028 92597 SH SOLE N/A 92597
BAXTER INTERNATIONAL COM 007181310 3738 62044 SH SOLE N/A 62044
CHASE MANHATTAN COM 016161010 5504 73015 SH SOLE N/A 73015
CISCO SYSTEMS COM 017275R10 5319 77582 SH SOLE N/A 77582
CITIGROUP COM 017303410 704 16000 SH SOLE N/A 16000
DELL COMPUTERS COM 024702510 3231 77265 SH SOLE N/A 77265
DIGENE CORP COM 025375210 202 16300 SH SOLE N/A 16300
DUPONT COM 026353410 3866 63898 SH SOLE N/A 63898
EMERSON ELECTRIC COM 029101110 3780 59825 SH SOLE N/A 59825
FEDERAL NAT'L MTG COM 031358610 4441 70840 SH SOLE N/A 70840
FORD MOTOR COM 034537010 3722 74060 SH SOLE N/A 74060
GENERAL ELECTRIC COM 036960410 5536 46695 SH SOLE N/A 46695
HOUSEHOLD INT'L COM 044181510 4734 117975 SH SOLE N/A 117975
INTEL COM 045814010 5793 77950 SH SOLE N/A 77950
JOHNSON & JOHNSON COM 047816010 1263 13750 SH SOLE N/A 13750
KEYCORP COM 049326710 3693 143075 SH SOLE N/A 143075
LEVEL 3 COMMUNICATIONS COM 052729N10 1870 35820 SH SOLE N/A 35820
MASCO CORP COM 057459910 3816 123100 SH SOLE N/A 123100
MCI WORLDCOM, INC. COM 055268B10 460 6400 SH SOLE N/A 6400
MCKESSON CORP COM 058155610 589 20300 SH SOLE N/A 20300
MEDTRONIC INC. COM 058505510 356 10000 SH SOLE N/A 10000
MELLON BANK CORP COM 058550910 5704 169650 SH SOLE N/A 169650
MICROSOFT CORP COM 059491810 1906 21045 SH SOLE N/A 21045
MORGAN STANLEY DWD CO COM 061744644 1922 21545 SH SOLE N/A 21545
PPG INDUSTRIES INC. COM 069350610 4239 70650 SH SOLE N/A 70650
PROCTER & GAMBLE COM 074271810 703 7500 SH SOLE N/A 7500
SCHERING-PLOUGH COM 080660510 3731 85520 SH SOLE N/A 85520
TYCO INTERNATIONAL COM 090212010 3420 33125 SH SOLE N/A 33125
WAL-MART STORES COM 093114210 842 17700 SH SOLE N/A 17700
XEROX CORP COM 098412110 3799 90590 SH SOLE N/A 90590
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