UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 13F
FORM 13F Cover Page
Report for the Calendar Year or 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: Professional Advisory Services, Inc.
Address: 2770 Indian River Blvd. - Suite 204
Vero Beach, FL 32960
13F File Number:
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 bahalf 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 April 28, 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: 37
Form 13F Information Table Value Total: $207,359
List of Other Managers Included: NONE
<TABLE> <C> <C>
ITEM 1: ITEM 2ITEM 3: ITEM 4: ITEM: 5 ITEM 6(aITEM 8(a)
NAME OF ISSUER COM CUSIP MKT VAL SHRS PR SOLE SOLE
D ABBOTT LABS COM 002824100 6294 134445 134445 134445
D AES CORP COM 00130H105 3712 99650 99650 99650
D AMERICAN EXPRESS CO COM 025816109 6555 55665 55665 55665
D AMERICAN INTERNATIONAL GP COM 026874107 6434 53343 53343 53343
D AUTOMATIC DATA PROCESSING COM 053015103 6724 162515 162515 162515
D BANCO DE SANTANDER COM 059574202 6774 337658 337658 337658
D CISCO SYSTEMS COM 17275R102 10904 99522 99522 99522
D CITIGROUP, INC. COM 172967101 9367 146641 146641 146641
D COCA COLA COM 191216100 3915 63790 63790 63790
D COMAIR COM 199789108 7028 297480 297480 297480
D COMPAQ COMPUTER COM 204493100 5630 177657 177657 177657
D COMPUTER ASSOCIATES COM 204912109 5295 148883 148883 148883
D DISNEY, WALT COM 254687106 7174 230485 230485 230485
D DONALDSON COMPANY COM 257651109 4593 255150 255150 255150
D DUKE POWER COM 264399106 2202 40175 40175 40175
D DUPONT DE NEMOURS, I.E. COM 263534109 3574 61550 61550 61550
D ERICSSON LM TEL - ADR COM 294821400 5189 217895 217895 217895
D EXXON COM 302290101 7313 103640 103640 103640
D GANNETT CO. COM 364730101 4801 76200 76200 76200
D GENERAL ELECTRIC COM 369604103 9740 88045 88045 88045
D GILLETTE COM 375766102 6053 101830 101830 101830
D INTEL COM 458140100 8218 69130 69130 69130
D JOHNSON & JOHNSON COM 478160104 4914 52555 52555 52555
D LUCENT TECHNOLOGIES COM 549463107 9912 91780 91780 91780
D MEDTRONIC INC COM 585055106 1022 14222 14222 14222
D MERCK & CO. COM 589331107 7383 92138 92138 92138
D MICROSOFT COM 594918104 11040 123178 123178 123178
D NORFOLK SOUTHERN CORP COM 655844108 3467 131450 131450 131450
D ORACLE CORP COM 68389X105 2404 91150 91150 91150
D PEPSICO COM 713448108 5093 129955 129955 129955
D PFIZER INC COM 717081103 1934 13940 13940 13940
D PROCTOR & GAMBLE COM 742718109 4826 49275 49275 49275
D ROYAL DUTCH PETROL. COM 780257804 814 15645 15645 15645
D SCHERING PLOUGH CORP COM 806605101 718 13000 13000 13000
D STATE STREET CORP COM 857477103 7639 92875 92875 92875
D UNUM COM 903192102 2967 62375 62375 62375
D VIACOM CL B COM 925524308 5737 68350 68350 68350
S REPORT SUMMARY 37RECORDS 207359 0 OTHER MGRS
</TABLE>
