UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Quarter Ended: March 31, 2000
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 April 7, 2000
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: $89,505
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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 002824100 2026 57575 SH SOLE N/A 57575
AMERICAN EXPRESS COM 025816109 1591 10680 SH SOLE N/A 10680
AMERICAN HOME PRODUCTS COM 026609107 1727 32095 SH SOLE N/A 32095
AMGEN, INC. COM 031162100 1300 21175 SH SOLE N/A 21175
AT & T CORP COM 001957109 2170 38445 SH SOLE N/A 38445
BAXTER INTERNATIONAL COM 071813109 1073 17119 SH SOLE N/A 17119
CHASE MANHATTAN COM 16161A108 1558 17875 SH SOLE N/A 17875
CISCO SYSTEMS COM 17275R102 9642 124718 SH SOLE N/A 124718
CITIGROUP COM 172967101 3523 59400 SH SOLE N/A 59400
COMPUWARE CORP. COM 205638109 1585 75250 SH SOLE N/A 75250
COSTCO WHOLESALE COM 22160Q102 498 9475 SH SOLE N/A 9475
DELL COMPUTERS COM 247025109 4111 76215 SH SOLE N/A 76215
DIGENE CORP COM 253752109 644 14000 SH SOLE N/A 14000
EMERSON ELECTRIC COM 291011104 808 15200 SH SOLE N/A 15200
FEDERAL NAT'L MTG COM 313586109 1574 27890 SH SOLE N/A 27890
FLOWERS INDS. COM 343496105 2450 161325 SH SOLE N/A 161325
GENERAL ELECTRIC COM 369604103 4592 29545 SH SOLE N/A 29545
HOME DEPOT COM 437076102 4165 64582 SH SOLE N/A 64582
HONEYWELL INT'L COM 438516107 2655 50400 SH SOLE N/A 50400
HOUSEHOLD INT'L COM 441815107 2439 65375 SH SOLE N/A 65375
INTEL COM 458140100 8531 64660 SH SOLE N/A 64660
JOHNSON & JOHNSON COM 478160104 925 13175 SH SOLE N/A 13175
LEVEL 3 COMMUNICATIONS COM 52729N100 4130 39050 SH SOLE N/A 39050
LUCENT TECH. COM 549463107 3030 49877 SH SOLE N/A 49877
MASCO CORP COM 574599106 1064 51925 SH SOLE N/A 51925
MCI WORLDCOM, INC. COM 55268B106 377 8325 SH SOLE N/A 8325
MEDTRONIC INC. COM 585055106 514 10000 SH SOLE N/A 10000
MELLON FINANCIAL CORP. COM 585509102 214 7250 SH SOLE N/A 7250
MERCK AND CO. COM 589331107 1039 21070 SH SOLE N/A 21070
MICROSOFT CORP COM 594918104 3546 33375 SH SOLE N/A 33375
MORGAN STANLEY DWD CO COM 617446448 3336 40900 SH SOLE N/A 40900
PPG INDUSTRIES INC. COM 693506107 926 17700 SH SOLE N/A 17700
SCHERING-PLOUGH COM 806605101 2115 57545 SH SOLE N/A 57545
TYCO INTERNATIONAL COM 902120106 4805 95857 SH SOLE N/A 95857
UNION PACIFIC COM 907818108 970 24800 SH SOLE N/A 24800
WAL-MART STORES COM 931142103 3580 64360 SH SOLE N/A 64360
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