UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 13F
FORM 13F Cover Page
Report for the Calendar Year or 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: Professional Advisory Services, Inc.
Address: 2770 Indian River Blvd. - Suite 204
Vero Beach, FL 32960
13F File Number: 28-3358
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing this 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 the report on behalf of Reporting Manager:
Name: Kenneth M. Ligon
Title: Secretary/Treasurer
Phone: 561-778-0552
Signature, Place and Date of Signing:
Kenneth M. Ligon Vero Beach, FL November 5, 1999
Report type (check one only):
[ x ] 13F Holdings Report
[ ] 13F Notice Filing
[ ] 13F Combination Report
List of other managers reporting for this Manager: NONE
I am signing this report as required by the Securities Exchange Act of 1934.
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: $225,285
List of Other Managers Included: NONE
<TABLE> <C> <C>
ITEM 1: ITME 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6(a):ITEM 8(a):
NAME OF ISSUER COM CUSIP MKT VAL SHARES PR SOLE SOLE
D ABBOTT LABS COM 002824100 5496 149805 149805 149805
D AES CORP COM 00130H105 1940 32875 32875 32875
D AMERICAN EXPRESS CO COM 025816109 7454 55215 55215 55215
D AMERICAN INTERNATIONCOM 026874107 7082 81461 81461 81461
D AUTOMATIC DATA PROCECOM 053015103 7686 172245 172245 172245
D BANCO SANTANDER CENTCOM 05964H105 6754 654938 654938 654938
D BRISTOL MYERS SQUIBBCOM 110122108 735 10892 10892 10892
D CISCO SYSTEMS COM 17275R102 12750 185960 185960 185960
D CITIGROUP, INC. COM 172967101 9573 217567 217567 217567
D COCA COLA COM 191216100 5273 109275 109275 109275
D COMAIR COM 199789108 8065 483254 483254 483254
D COMPAQ COMPUTER COM 204493100 3463 151407 151407 151407
D COMPUTER ASSOCIATES COM 204912109 1870 30592 30592 30592
D DISNEY, WALT COM 254687106 7252 278910 278910 278910
D DONALDSON COMPANY COM 257651109 5152 222200 222200 222200
D DUKE POWER COM 264399106 2336 42375 42375 42375
D DUPONT DE NEMOURS, ICOM 263534109 5087 84090 84090 84090
D ERICSSON LM TEL - ADCOM 294821400 6471 207085 207085 207085
D EXXON COM 302290101 8081 106335 106335 106335
D GANNETT CO. COM 364730101 6227 90000 90000 90000
D GENERAL ELECTRIC COM 369604103 10969 92515 92515 92515
D GILLETTE COM 375766102 4422 130285 130285 130285
D GOLDMAN SACHS COM 38141G104 1915 31400 31400 31400
D ILLINOIS TOOL WORKS COM 452308109 2621 35149 35149 35149
D INTEL COM 458140100 10361 139420 139420 139420
D JOHNSON & JOHNSON COM 478160104 4881 53125 53125 53125
D LUCENT TECHNOLOGIES COM 549463107 11041 170195 170195 170195
D MEDTRONIC INC COM 585055106 1012 28444 28444 28444
D MERCK & CO. COM 589331107 6917 106723 106723 106723
D MICROSOFT COM 594918104 11511 127103 127103 127103
D NORFOLK SOUTHERN CORCOM 655844108 2956 120650 120650 120650
D ORACLE CORP COM 68389X105 6709 147450 147450 147450
D PEPSICO COM 713448108 4084 133910 133910 133910
D PFIZER INC COM 717081103 3602 100395 100395 100395
D PROCTOR & GAMBLE COM 742718109 4986 53189 53189 53189
D ROYAL DUTCH PETROL. COM 780257804 877 14850 14850 14850
D SCHERING PLOUGH CORPCOM 806605101 585 13400 13400 13400
D STATE STREET CORP COM 857477103 7930 122705 122705 122705
D UNUMPROVIDENT CORP COM 91529Y106 2215 75245 75245 75245
D VIACOM CL B COM 925524308 6444 152510 152510 152510
D WAL-MART COM 931142103 500 10510 10510 10510
S REPORT SUMMARY 41RECORDS 225285 0OTHER MGRS
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