UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar 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: 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: 41
Form 13F Information Table Value Total: $122,337
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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 4963 106025 SH SOLE N/A 106025
ALLIED SIGNAL COM 001951210 1392 28300 SH SOLE N/A 28300
ALLSTATE CORP COM 002000210 4243 114475 SH SOLE N/A 114475
AMERICAN EXPRESS COM 002581610 1188 10089 SH SOLE N/A 10089
AMERICAN HOME PRODUCTS COM 002660910 4287 65700 SH SOLE N/A 65700
AT & T CORP COM 000195710 6387 80020 SH SOLE N/A 80020
ATLANTIC RICHFIELD COM 004882510 6978 95420 SH SOLE N/A 95420
BANK OF NEW YORK INC COM 006405710 454 13000 SH SOLE N/A 13000
CHASE MANHATTAN COM 016161010 6635 81540 SH SOLE N/A 81540
CISCO SYSTEMS COM 017275R10 3520 32125 SH SOLE N/A 32125
CITIGROUP COM 017303410 240 3750 SH SOLE N/A 3750
COCA-COLA COM 019121610 605 9850 SH SOLE N/A 9850
DELL COMPUTERS COM 024702510 2341 57265 SH SOLE N/A 57265
DIGENE CORP COM 025375210 128 16300 SH SOLE N/A 16300
DU PONT COM 026353410 4945 85173 SH SOLE N/A 85173
DUKE REALTY INVESTMENTS COM 026441120 694 32300 SH SOLE N/A 32300
EATON CORP COM 027805810 4406 61625 SH SOLE N/A 61625
EG & G INC COM 026845710 5801 219940 SH SOLE N/A 219940
EMERSON ELECTRIC COM 029101110 3812 72000 SH SOLE N/A 72000
FIRST UNION CORP COM 033735810 6521 122025 SH SOLE N/A 122025
GENERAL ELECTRIC COM 036960410 6204 56085 SH SOLE N/A 56085
GOODRICH, B.F. CO. COM 038238810 2267 66080 SH SOLE N/A 66080
ILLINOIS TOOL WORKS COM 045230810 874 14125 SH SOLE N/A 14125
INT BUSINESS MACHINES COM 045920010 778 4388 SH SOLE N/A 4388
INTEL COM 045814010 3782 31815 SH SOLE N/A 31815
KEYCORP COM 049326710 5920 195300 SH SOLE N/A 195300
LEVEL 3 COMMUNICATIONS COM 052729N10 1201 16495 SH SOLE N/A 16495
MCI WORLDCOM, INC. COM 055268B10 607 6850 SH SOLE N/A 6850
MELLON BANK CORP COM 058550910 6744 95825 SH SOLE N/A 95825
MICROSOFT CORP COM 059491810 1866 20820 SH SOLE N/A 20820
MORGAN STANLEY DWD CO COM 061744644 1983 19845 SH SOLE N/A 19845
MYLAN LABORATORIES, INC. COM 062853010 591 21530 SH SOLE N/A 21530
NEWELL RUBBERMAID INC. COM 065119210 223 4700 SH SOLE N/A 4700
PARKER HANNIFIN CORP COM 070109410 617 18000 SH SOLE N/A 18000
PHILIP MORRIS COM 071815410 525 14875 SH SOLE N/A 14875
PPG INDUSTRIES INC. COM 069350610 4384 85550 SH SOLE N/A 85550
PROCTER & GAMBLE COM 074271810 775 7916 SH SOLE N/A 7916
TEXACO INC. COM 088169410 6061 106800 SH SOLE N/A 106800
TEXAS INSTRUMENTS COM 088250810 800 8065 SH SOLE N/A 8065
TYCO INTERNATIONAL COM 090212010 1561 21750 SH SOLE N/A 21750
XEROX CORP COM 098412110 5034 96580 SH SOLE N/A 96580
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