UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Quarter Ended: June 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 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.
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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: $124,648
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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 5067 111675 SH SOLE N/A 106025
ALLIED SIGNAL COM 001951210 4923 78140 SH SOLE N/A 28300
ALLSTATE CORP COM 002000210 5463 152265 SH SOLE N/A 114475
AMERICAN EXPRESS COM 002581610 1300 9989 SH SOLE N/A 10089
AMERICAN HOME PRODUCTS COM 002660910 3277 57120 SH SOLE N/A 65700
AT & T CORP COM 000195710 6243 111864 SH SOLE N/A 80020
CHASE MANHATTAN COM 016161010 6406 74055 SH SOLE N/A 81540
CISCO SYSTEMS COM 017275R10 4210 65332 SH SOLE N/A 32125
COCA-COLA COM 019121610 226 3650 SH SOLE N/A 9850
DELL COMPUTERS COM 024702510 2657 71815 SH SOLE N/A 57265
DIGENE CORP COM 025375210 180 16300 SH SOLE N/A 16300
DUPONT COM 026353410 4859 71123 SH SOLE N/A 85173
EMERSON ELECTRIC COM 029101110 3207 50950 SH SOLE N/A 72000
FEDERAL NAT'L MTG COM 031358610 4770 69890 SH
FIRST UNION CORP COM 033735810 4089 86760 SH SOLE N/A 122025
FORD MOTOR COM 034537010 5152 91285 SH
GENERAL ELECTRIC COM 036960410 5587 49445 SH SOLE N/A 56085
HOUSEHOLD INT'L COM 044181510 2019 42625 SH
ILLINOIS TOOL WORKS COM 045230810 1138 13925 SH SOLE N/A 14125
INT BUSINESS MACHINES COM 045920010 230 1176 SH SOLE N/A 4388
INTEL COM 045814010 4642 78025 SH SOLE N/A 31815
JOHNSON & JOHNSON COM 047816010 1348 13750 SH
KEYCORP COM 049326710 5752 179025 SH SOLE N/A 195300
LEVEL 3 COMMUNICATIONS COM 052729N10 1284 21370 SH SOLE N/A 16495
MASCO CORP COM 057459910 3670 127075 SH
MCI WORLDCOM, INC. COM 055268B10 551 6400 SH SOLE N/A 6850
MELLON BANK CORP COM 058550910 6384 175500 SH SOLE N/A 95825
MICROSOFT CORP COM 059491810 1862 20645 SH SOLE N/A 20820
MORGAN STANLEY DWD CO COM 061744644 2378 23170 SH SOLE N/A 19845
PPG INDUSTRIES INC. COM 069350610 4264 72200 SH SOLE N/A 85550
PROCTER & GAMBLE COM 074271810 1463 16391 SH SOLE N/A 7916
SCHERING-PLOUGH COM 080660510 4674 89030 SH
SOUTHERN CO. COM 084258710 5699 215040 SH
TEXAS INSTRUMENTS COM 088250810 1431 9940 SH SOLE N/A 8065
TYCO INTERNATIONAL COM 090212010 2741 28925 SH SOLE N/A 21750
XEROX CORP COM 098412110 5506 93215 SH SOLE N/A 96580
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