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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended March 31, 1999.
This Amendment Report Check Here [ ]
Institutional Investment Manager Filing this Report:
Name: Security Asset Management
Address: 527 Madison Avenue, Suite 1450
New York, NY 10022
SEC File #: 28-3662
Filing on behalf of Sec Asset Mngmt only, no other investment mngrs involved.
Person Signing this Report on Behalf of Reporting Manager:
Name: James D. Taliaferro
Title: President
Phone: 212-644-5444
Signature, Place and Date of Signing:
James D. Taliaferro New York, New York June 11, 1999
Report Type 13F Holdings Report
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.
<PAGE>
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 144
Form 13F Information Table Value Total: $729,314
List of Other Included Managers:
<PAGE>
<TABLE> <C> <C> <C>
"Security Asset Management, Inc."
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER
NAME OF ISSUER TITLE OF CLCUSIP (X$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------- ---------- --------- -------- -------- --- ---- ------- -------- -------- -------- --------
AT&T CORP COM 001957109 18210 228156 SH SOLE 161563 66593
298 3735 SH OTHER 3735
ABBOTT LABS COM 002824100 12322 263220 SH SOLE 263220
1601 34190 SH OTHER 34190
ALLTEL CORP COM 020039103 190 3050 SH SOLE 3050
153 2455 SH OTHER 2455
AMERICAN EXPRESS COM 025816109 267 2270 SH SOLE 2270
106 900 SH OTHER 900
AMERICAN HOME PRODUCTS CORCOM 026609107 30590 468806 SH SOLE 113625 355181
1817 27842 SH OTHER 27842
AMERICAN INTERNATIONAL GROCOM 026874107 35231 292072 SH SOLE 108248 183824
2368 19630 SH OTHER 19630
AMGEN INC COM 031162100 2444 32640 SH SOLE 1630 31010
397 5300 SH OTHER 5300
ATLANTIC RICHFIELD CO COM 048825103 510 6973 SH SOLE 600 6373
AUTOMATIC DATA PROCESSING COM 053015103 248 6000 SH SOLE 6000
83 2000 SH OTHER 2000
AVON PRODUCTS INC COM 054303102 151 3200 SH SOLE 3200
75 1600 SH OTHER 1600
BP AMOCO COM 055622104 15023 148739 SH SOLE 2479 146260
1144 11327 SH OTHER 11327
BANKAMERICA CORP COM 066050105 11917 168743 SH SOLE 116473 52270
BECTON, DICKINSON COM 075887109 658 17180 SH SOLE 840 16340
BELL ATLANTIC COM 077853109 668 12930 SH SOLE 2560 10370
32 614 SH OTHER 614
BERKSHIRE HATHAWAY CLASS BCOM 084670207 12424 5284 SH SOLE 5284
1303 554 SH OTHER 554
BIOGEN INC COM 090597105 640 5600 SH SOLE 5600
BRISTOL MYERS SQUIBB CO COM 110122108 15365 239611 SH SOLE 6460 233151
834 13000 SH OTHER 13000
CBS CORP COM 12490K107 18184 445545 SH SOLE 269570 175975
191 4685 SH OTHER 4685
CHASE MANHATTAN CORP COM 16161A108 906 11130 SH SOLE 11130
232 2850 SH OTHER 2850
CHEVRON CORP COM 166751107 98 1100 SH SOLE 400 700
182 2053 SH OTHER 2053
CISCO SYSTEMS INC COM 17275R102 17818 162632 SH SOLE 123629 39003
1669 15229 SH OTHER 15229
CITIGROUP COM 173034109 15538 243259 SH SOLE 21044 222215
CLOROX COMPANY COM 295 2520 SH SOLE 2520
COASTAL CORP COM 190441105 203 6148 SH SOLE 6148
COCA COLA CO COM 191216100 12503 203720 SH SOLE 3560 173160
2700 43991 SH OTHER 43991
COMCAST CORP COM 200300200 9464 150364 SH SOLE 104560 45804
199 3166 SH OTHER 3166
CORNING INC COM 219350105 254 4234 SH SOLE 3584 650
DAYTON HUDSON CORP COM 239753106 171 2572 SH SOLE 2572
280 4200 SH OTHER 4200
DISNEY WALT CO COM 254687106 7545 242413 SH SOLE 14469 227944
29 942 SH OTHER 942
DU PONT (EI) DE NEMOURS & COM 263534109 304 5236 SH SOLE 2600 2636
213 3670 SH OTHER 3670
EMC CORP COM 268648102 7777 60880 SH SOLE 42450 18430
139 1090 SH OTHER 1090
ELI LILLY & CO COM 532457108 229 2694 SH SOLE 2694
EMERSON ELECTRIC CO COM 291011104 9810 185310 SH SOLE 1200 184110
200 3775 SH OTHER 3775
EXXON CORP COM 302290101 2880 40819 SH SOLE 3934 36885
3114 44128 SH OTHER 44128
FANNIE MAE COM 313586109 11699 168940 SH SOLE 107530 61410
582 8400 SH OTHER 8400
FIFTH THIRD BANCORP COM 316773100 12414 188270 SH SOLE 188270
FIRST UNION CORP COM 337358105 12612 236005 SH SOLE 9360 226645
598 11199 SH OTHER 11199
GTE CORP COM 362320103 257 4240 SH SOLE 2540 1700
256 4225 SH OTHER 4225
GENERAL ELECTRIC CO COM 369604103 32282 291819 SH SOLE 103809 188010
3647 32966 SH OTHER 32966
GILLETTE CO COM 375766102 496 8349 SH SOLE 1604 6745
214 3600 SH OTHER 3600
HEWLETT PACKARD CO COM 428236103 12410 183006 SH SOLE 900 182106
115 1700 SH OTHER 1700
HOME DEPOT INC COM 437076102 12655 203286 SH SOLE 158089 45197
280 4500 SH OTHER 4500
INFINITY BROADCASTING CORPCOM 45662S102 14318 556037 SH SOLE 394029 162008
225 8740 SH OTHER 8740
INTEL CORP COM 458140100 25978 218534 SH SOLE 75964 142570
1160 9761 SH OTHER 9761
INTERNATIONAL BUSINESS MACCOM 459200101 7590 42820 SH SOLE 30370 12450
1522 8584 SH OTHER 8584
JOHNSON & JOHNSON COM 478160104 18489 197742 SH SOLE 37266 160476
330 3532 SH OTHER 3532
LIBERTY MEDIA GROUP COM 001957208 14319 272285 SH SOLE 192105 80180
105 2000 SH OTHER 2000
LORAL SPACE & COMMUNICATIOCOM G56462107 1380 95610 SH SOLE 92480 3130
119 8265 SH OTHER 8265
LUCENT TECHNOLOGIES COM 549463107 12127 112282 SH SOLE 2938 109344
591 5474 SH OTHER 5474
MBIA INC COM 55262C100 16064 276970 SH SOLE 113005 163965
22 385 SH OTHER 385
MBNA CORP COM 55262L100 4209 176303 SH SOLE 135492 40811
224 9364 SH OTHER 9364
MCI WORLDCOM INC COM 98155K102 16658 188096 SH SOLE 143436 44660
330 3725 SH OTHER 3725
MCDONALDS CORP COM 580135101 230 5086 SH SOLE 5086
MCKESSON CORP COM 581557105 76 1150 SH SOLE 1150
175 2650 SH OTHER 2650
MEDTRONIC INC COM 585055106 11314 157409 SH SOLE 120 157289
115 1600 SH OTHER 1600
MELLON BANK CORP COM 585509102 581 8254 SH SOLE 8254
497 7064 SH OTHER 7064
MERCK & CO INC COM 589331107 19024 237433 SH SOLE 13500 223933
2540 31695 SH OTHER 31695
MICROSOFT CORP COM 594918104 30931 345118 SH SOLE 154400 190718
692 7720 SH OTHER 7720
MINNESOTA MNG & MFG CO COM 604059105 304 4300 SH SOLE 4300
127 1800 SH OTHER 1800
MOBIL CORP COM 607059102 458 5202 SH SOLE 5202
572 6496 SH OTHER 6496
MORGAN J P & CO INC COM 616880100 13361 108299 SH SOLE 3079 105220
1551 12575 SH OTHER 12575
MORGAN STANLEY, DEAN WITTECOM 617446448 35213 352354 SH SOLE 119301 233053
2089 20904 SH OTHER 20904
MOTOROLA INC COM 620076109 350 4777 SH SOLE 1005 3772
205 2800 SH OTHER 2800
PEPSICO INC COM 713448108 1310 33449 SH SOLE 17740 15709
24 600 SH OTHER 600
PERKIN-ELMER COM 714041100 1191 12274 SH SOLE 12274
126 1300 SH OTHER 1300
PFIZER INC COM 717081103 447 3220 SH SOLE 3220
PHARMACIA & UPJOHN INC. COM 716941109 244 3915 SH OTHER 3915
PHILIP MORRIS COS INC COM 718154107 9562 271746 SH SOLE 193216 78530
284 8085 SH OTHER 8085
PLUM CREEK TIMBER CO LP COM 729237107 1249 43810 SH SOLE 2700 41110
237 8325 SH OTHER 8325
PROCTER & GAMBLE CO COM 742718109 13702 139909 SH SOLE 3700 136209
1505 15372 SH OTHER 15372
ROYAL DUTCH PETROLEUM CO COM 780257705 10434 200645 SH SOLE 5310 195335
125 2400 SH OTHER 2400
SCHERING-PLOUGH CORP COM 806605101 2652 48000 SH SOLE 48000
SCHLUMBERGER LTD COM 806857108 9625 159920 SH SOLE 110245 49675
STATE STR BOSTON COM 857477103 307 3732 SH OTHER 3732
TIME WARNER INC COM 887315109 10979 155050 SH SOLE 104700 50350
TYCO INTERNATIONAL LTD COM 902124106 9 120 SH SOLE 120
258 3600 SH OTHER 3600
WAL MART STORES INC COM 931142103 332 3605 SH SOLE 3605
WALGREEN CO COM 931422109 186 6600 SH SOLE 6600
151 5328 SH OTHER 5328
WASTE MANAGEMENT INC. COM 902917103 19210 432910 SH SOLE 186630 246280
534 12035 SH OTHER 12035
WELLS FARGO & CO COM 949740104 6681 190545 SH SOLE 143525 47020
116 3300 SH OTHER 3300
WILMINGTON TRUST CORP COM 971807102 567 9930 SH SOLE 9930
WRIGLEY (WM) JR CO COM 982526105 388 4295 SH SOLE 600 3695
</TABLE>
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