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, 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: 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 April 20, 2000
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: 40
Form 13F Information Table Value Total: $280,241
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 682 19370 19370 19370
D AES CORP COM 00130H105 3372 42825 42825 42825
D AMERICAN EXPRESS CO COM 025816109 8930 59955 59955 59955
D AMERICAN INTERNATIONAL GP COM 026874107 10279 93872 93872 93872
D AUTOMATIC DATA PROCESSING COM 053015103 8455 175240 175240 175240
D BANCO SANTANDER CENT HISP COM 05964H105 7582 705306 705306 705306
D BRISTOL MYERS SQUIBB CO. COM 110122108 655 11292 11292 11292
D CISCO SYSTEMS COM 17275R102 22117 286067 286067 286067
D CITIGROUP, INC. COM 172967101 13132 219330 219330 219330
D COCA COLA COM 191216100 6714 143030 143030 143030
D COMPAQ COMPUTER COM 204493100 1524 56445 56445 56445
D DISNEY, WALT COM 254687106 11473 278145 278145 278145
D DONALDSON COMPANY COM 257651109 5486 243125 243125 243125
D DUKE POWER COM 264399106 3423 65200 65200 65200
D DUPONT DE NEMOURS, I.E. COM 263534109 6863 129650 129650 129650
D ERICSSON LM TEL - ADR COM 294821400 11090 118215 118215 118215
D EXXON MOBIL CORP COM 30231G102 9847 126339 126339 126339
D GANNETT CO. COM 364730101 7430 105580 105580 105580
D GENERAL ELECTRIC COM 369604103 13999 89955 89955 89955
D GILLETTE COM 375766102 4628 122800 122800 122800
D GOLDMAN SACHS COM 38141G104 4168 39600 39600 39600
D ILLINOIS TOOL WORKS COM 452308109 1918 34717 34717 34717
D INTEL COM 458140100 16224 122970 122970 122970
D JOHNSON & JOHNSON COM 478160104 6313 89865 89865 89865
D LUCENT TECHNOLOGIES COM 549463107 12080 197220 197220 197220
D MEDTRONIC INC COM 585055106 1484 28844 28844 28844
D MERCK & CO. COM 589331107 8759 140988 140988 140988
D MICROSOFT COM 594918104 14040 132142 132142 132142
D NORFOLK SOUTHERN CORP COM 655844108 6037 423631 423631 423631
D ORACLE CORP COM 68389X105 11095 142125 142125 142125
D PEPSICO COM 713448108 5633 161530 161530 161530
D PFIZER INC COM 717081103 7044 192655 192655 192655
D PROCTOR & GAMBLE COM 742718109 4860 86009 86009 86009
D ROYAL DUTCH PETROL. COM 780257804 845 14620 14620 14620
D SCHERING PLOUGH CORP COM 806605101 495 13320 13320 13320
D STATE STREET CORP COM 857477103 10686 110305 110305 110305
D UNISOURCE ENERGY CORP COM 909205106 442 31300 31300 31300
D UNUMPROVIDENT CORP COM 91529Y106 1282 75680 75680 75680
D VIACOM CL B COM 925524308 8508 161285 161285 161285
D WAL-MART COM 931142103 647 11450 11450 11450
S REPORT SUMMARY 40RECORDS 280241 0OTHER MGRS
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