UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
REPORT FOR THE QUARTER ENDED: JUNE 30, 1999
Report for the Calendar Year or Quarter Ended June, 1999
(Please read instructions before preparing form.)
If amended report check here: [ ]; Amendment Number:
This Amendemnt (Check only one): [ ] is a restatement
[ ] adds new holding entries.
Institutional Investment Manager filing this Report:
Name: Wafra Investment Advisory Group, Inc.
Address: 345 Park Avenue, 41st Floor, New York, NY 10154-
0101
13F File Number: 28-4268
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that 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
the Form.
Person signing this Report on Behalf of Reporting Manager:
Name: Anthony G. Barbuto
Title: Chief Financial Officer
Phone: 212 759-3700
Signature, Place, and Date of Signing:
Anthony G. Barbuto New York, New York July 26, 1999
Report Type (Check only one.):
[ X ] 13 F Holdings Report
[ ] 13 F Notice
[ } 13 F Combination Report
List of Other Managers Reporting for this Manager:
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIIES EXCHANGE
ACT OF 1934
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other included Managers: 0
Form 13F Information Table Entry Total 184
Form 13F Information Table Value Total: $442,132
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FORM 13F
(SEC USE ONLY)
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Name of Reporting Manager
Item 6:
Item 8:
Item 1: Item 2: Item 3: Item 4: Item 5: Investment Discretion Item 7:
Voting Authority Shares
Title Fair Shares of (a) Sole(b) Shar(c) SharManagers
Name of Issuer of ClassCusip NoMarket VPrincipal As Defin Other See
Inst(a) Sole(b) Shar(c) None
in Instr. V
A T & T Corp. COM 00195710####### 106,950 8.5 X Wafra I
X
ATMI Inc. COM 00207R10####### 30,000 8.5 X Wafra I
X
Abacus Direct COM 00255310####### 11,500 28.5625 X Wafra I
X
Action PerformanCOM 00493310####### 33,000 54.125 X Wafra I
X
Advanced DigitalCOM 00752510####### 15,500 41.5 X Wafra I
X
Aflac Inc. COM 00105510####### 72,500 4.4375 X Wafra I
X
Albertson's Inc.COM 01310410####### 66,700 77.625 X Wafra I
X
Alcoa Inc. COM 01381710####### 62,900 X Wafra In
X
America Online ICOM 02364J10####### 15,500 25.375 X Wafra I
X
American ExpressCOM 02581610####### 29,900 75.5625 X Wafra I
X
American InternaCOM 02687410####### 68,100 34.5 X Wafra I
X
American Tower CCOM 02991220####### 10,000 3.5 X Wafra I
X
American WoodmarCOM 03050610####### 43,600 26.8125 X Wafra I
X
Amgen Inc. COM 03116210####### 77,500 53.5 X Wafra I
X
Amx Corp. COM 00180110####### 12,500 17.25 X Wafra I
X
Applied Science COM 03823610####### 19,000 65.25 X Wafra I
X
Associates FirstCOM 04600810####### 122,200 X Wafra In
X
At-Home Corp-SerCOM 04591910####### 10,500 X Wafra In
X
Atlas Air Inc. COM 04916416####### 25,000 X Wafra In
X
Aviation Sales CCOM 05367210####### 29,500 21 X Wafra I
X
Bank of America COM 06050510####### 103,700 21 X Wafra I
X
Barrett ResourceCOM 06848020####### 10,000 X Wafra In
X
Bea Systems COM 07332510####### 42,000 19.9375 X Wafra I
X
Bellsouth Corp. COM 07986010####### 135,300 15.25 X Wafra I
X
Bradlees Inc. CLA 10449920####### 28,300 15.5 X Wafra I
X
Bristol-Myers SqCLA 11012210####### 113,000 1 X Wafra I
X
Butler Int'l IncCOM 12364910####### 77,250 3.625 X Wafra I
X
CSG Systems IntlCOM 12634910####### 33,500 22.75 X Wafra I
X
CVS Corp. COM 12665010####### 95,400 19.5625 X Wafra I
X
Cabot Oil & Gas COM 12709710####### 36,200 X Wafra In
X
Carey InternatioCOM 14175010####### 10,000 X Wafra In
X
Caterpillar Inc.COM 14912310####### 76,200 63 X Wafra In
X
Centurytel Inc. COM 15670010####### 68,000 X Wafra In
X
Chase Manhattan COM 16161A10####### 77,100 28.75 X Wafra In
X
Chevron Corp. COM 16675110####### 38,900 7.875 X Wafra I
X
Ciber Inc. COM 17163B10####### 45,000 24.9375 X Wafra I
X
Ciena Corp. COM 17177910####### 28,000 X Wafra In
X
Cisco Systems InCOM 17275R10####### 170,800 40.75 X Wafra I
X
Citigroup Inc COM 17296710####### 112,500 17.25 X Wafra I
X
Clarify Inc. COM 18049210####### 19,000 25.25 X Wafra I
X
Coastal Corp. COM 19044110####### 52,400 15.25 X Wafra In
X
Coca-Cola CompanCOM 19121610####### 68,300 X Wafra In
X
Colgate-PalmolivCOM 19416210####### 49,600 37.31 X Wafra I
X
Commonwealth IndCOM 20300410####### 17,000 37.31 X Wafra I
X
Comptex ResearchCOM 20468210####### 105,000 X Wafra In
X
Computer HorizonCOM 20590810####### 54,300 56.25 X Wafra I
X
Concur TechnologCOM 20670810####### 32,700 23.1875 X Wafra I
X
Core LaboratorieCOM 2182531 ####### 109,100 X Wafra In
X
Cornell CorrectiCOM 21914110####### 44,000 6.31 X Wafra I
X
Crescent Real EsCOM 14441K10####### 40,200 14.625 X Wafra I
X
Dayton Hudson CoCOM 23975310####### 65,400 2.25 X Wafra I
X
Dell Computer CoCOM 24702510####### 183,000 16 X Wafra I
X
Dial Corp. COM 25247D10####### 27,000 1.625 X Wafra I
X
Ditech CommunicaCOM 25500M10####### 15,000 42.19 X Wafra I
X
DrKoop.Com Inc. COM 26209810####### 18,500 X Wafra In
X
Du Pont (E.I.) DCOM 26353410####### 69,200 64.25 X Wafra I
X
EMC Corp/Mass COM 26864810####### 84,200 25.5 X Wafra I
X
Eclipse SurgicalCOM 27884910####### 10,000 9.25 X Wafra I
X
Edelbrock Corp. COM 27943410####### 38,700 14.75 X Wafra I
X
Enron Corp. COM 29356110####### 56,500 12.25 X Wafra I
X
Equitable ResourCOM 29454910####### 26,600 42.25 X Wafra I
X
Equity ResidentiCOM 29476L10####### 29,100 X Wafra In
X
Exchange ApplicaCOM 30086710####### 14,300 9.12 X Wafra I
X
Express Scripts COM 30218210####### 14,500 3.5 X Wafra I
X
FPL Group Inc. COM 30257110####### 66,300 9.37 X Wafra I
X
Fannie Mae COM 31358610####### 88,500 52.94 X Wafra I
X
Federated DepartCOM 31410H10####### 69,700 13 X Wafra I
X
First IndustrialCOM 32054K10####### 32,700 16.375 X Wafra I
X
Fiserv Inc. COM 33773810####### 12,500 X Wafra In
X
Flow Intl Corp. COM 34346810####### 46,500 X Wafra In
X
Ford Motor CompaCOM 34537010####### 99,900 X Wafra I
X
GST TelecommunicCOM 36194210####### 65,500 X Wafra In
X
Garden Fresh ResCOM 36523510####### 12,500 2.37 X Wafra I
X
General ElectricCOM 36960410####### 105,800 37.9375 X Wafra I
X
Genesco COM 37153210####### 20,000 X Wafra In
X
Gillette CompanyCOM 37576610####### 64,400 6.25 X Wafra I
X
Gulfstream AerosCOM 40273410####### 54,200 X Wafra In
X
Happy Kids Inc. COM 41139110####### 12,500 X Wafra In
X
Hasbro Inc. COM 41805610####### 60,100 X Wafra In
X
Healthcare ServiCOM 42190610####### 78,000 18.25 X Wafra I
X
Hewlett-Packard COM 42823610####### 23,000 38 X Wafra I
X
Hollinger InternCOM 43556910####### 50,000 23.375 X Wafra I
X
Home Depot Inc. COM 43707610####### 86,800 6.75 X Wafra I
X
ICG CommunicatioCOM 44924610####### 11,500 X Wafra In
X
ICOS CorporationCOM 44929510####### 13,500 13.5 X Wafra I
X
Impath Inc. COM 45255910####### 30,000 9.625 X Wafra I
X
Imrglobal Corp. COM 45321W10####### 57,000 10.75 X Wafra I
X
Infosy's TechnolCOM 45678810####### 10,000 11 X Wafra I
X
Int'l Business MCOM 45920010####### 80,200 30 X Wafra I
X
Intel Corp. COM 45814010####### 169,700 X Wafra In
X
Johnson & JohnsoCOM 47816010####### 83,300 20.4375 X Wafra I
X
Kaiser Aluminum COM 48300710####### 70,000 51.5 X Wafra I
X
Keebler Foods CoCOM 48725610####### 24,000 47.75 X Wafra I
X
Knight Ridder InCOM 49904010####### 33,000 9.69 X Wafra I
X
Kroll O'Gara ComCOM 50105010####### 66,000 15.75 X Wafra I
X
Lecroy Corp. COM 52324W10####### 35,500 X Wafra In
X
Legato Systems ICLA 52465110####### 20,500 17.06 X Wafra I
X
Lilly (Eli) & CoCOM 53245710####### 46,700 X Wafra In
X
Linc Capital IncCOM 50194210####### 73,300 X Wafra In
X
Lucent TechnologCOM 54946310####### 138,600 X Wafra In
X
MCI Worldcom IncCOM 55268B10####### 88,900 4.875 X Wafra I
X
Mack-Cali RealtyCLA 55448910####### 30,600 28.9375 X Wafra I
X
Mastec Inc. COM 57632310####### 47,000 15.19 X Wafra I
X
McDonald's CorpoCOM 58013510####### 121,400 X Wafra In
X
Medical Manager COM 58461C10####### 12,000 4.25 X Wafra I
X
Meditrust Corp. COM 58501T30####### 35,900 10.3125 X Wafra I
X
Medtronics Inc. COM 58505510####### 54,400 7.625 X Wafra I
X
Mellon Bank CorpCOM 58550910####### 102,400 X Wafra In
X
Merck & Co. Inc.COM 58933110####### 103,100 11.625 X Wafra I
X
Metzler Group InCOM 59290310####### 31,000 X Wafra In
X
Microsoft Corp. COM 59491810####### 194,000 22.1875 X Wafra I
X
Microtouch SysteCOM 59514510####### 29,500 5 X Wafra I
X
Mobil Corp. COM 60705910####### 93,400 6.625 X Wafra I
X
Monsanto Co. COM 61166210####### 79,000 7.25 X Wafra I
X
Moog Inc -CL A COM 61539420####### 24,400 29.4375 X Wafra I
X
Morgan St Dean WCOM 61744644####### 52,700 46.25 X Wafra I
X
Motive IndustrieCOM 61980K10####### 40,000 11.5 X Wafra I
X
Net Bank Inc COM 64093310####### 23,400 48.19 X Wafra I
X
OM Group Inc. COM 67087210####### 20,000 10.5 X Wafra I
X
OfficeMax COM 67622M10####### 75,000 X Wafra In
X
Orbital SciencesCOM 68556410####### 43,500 X Wafra In
X
Orthofix Int'l NCOM N6748L10####### 64,800 7.125 X Wafra I
X
PRI Automation COM 69357H10####### 26,000 23.5 X Wafra I
X
Pacific Sun WearCOM 69487310####### 43,050 51.75 X Wafra I
X
Patterson EnergyCOM 70341410####### 20,000 21.25 X Wafra I
X
Pepsico Inc COM 71344810####### 90,600 X Wafra In
X
Pfizer Inc. COM 71708110####### 38,500 X Wafra In
X
Phillip Morris CCOM 71815410####### 149,600 44.375 X Wafra I
X
Plantronics Inc.COM 72749310####### 26,100 X Wafra In
X
Pride InternatioCOM 74193210####### 15,000 32.4375 X Wafra I
X
Procter & GambleCOM 74271810####### 82,900 22.4375 X Wafra I
X
QuickSilver Inc.COM 74838C10####### 25,000 X Wafra In
X
Radisys Corp. COM 75045910####### 12,000 14.125 X Wafra I
X
Ralston-Ralston COM 75127730####### 25,000 50.875 X Wafra I
X
Reckson AssociatCOM 75621K10####### 48,100 X Wafra In
X
Remedy Temp Inc.COM 75949108####### 10,000 X Wafra In
X
Rohm & Haas Co. COM 77537110####### 36,500 21.125 X Wafra I
X
SBC CommunicatioCLA 78387G10####### 135,400 25.0625 X Wafra I
X
Saks Inc. COM 79377W10####### 251,852 9.8125 X Wafra I
X
Sawtek Inc. COM 80546810####### 15,000 9.25 X Wafra I
X
Schlumberger LtdCOM 80685710####### 76,700 4.9375 X Wafra I
X
Security First TCOM 81427910####### 20,200 10.125 X Wafra I
X
Shoe Carnival InCOM 82488910####### 88,200 2.25 X Wafra I
X
Siebel Systems ICOM 82617010####### 15,000 5.125 X Wafra I
X
Sirena Apparel GCOM 82966Q10####### 128,500 X Wafra In
X
Skechers USA IncCOM 83056610####### 15,000 X Wafra In
X
Southwest AirlinCOM 84474110####### 127,100 X Wafra In
X
Spieker PropertiCOM 84849710####### 29,300 X Wafra In
X
Steinway MusicalCOM 85849510####### 37,600 X Wafra In
X
Stericycle Inc. COM 85891210####### 55,000 X Wafra In
X
Stillwater MininCOM 86074Q10####### 25,000 4.5625 X Wafra I
X
Superior ConsultCOM 86814610####### 15,000 20 X Wafra I
X
TUT Systems COM 90110310####### 15,500 62.5625 X Wafra I
X
Tarrant Apparel COM 87628910####### 28,000 18 X Wafra I
X
Technitrol Inc COM 87855510####### 22,000 7.375 X Wafra I
X
Teligent Inc. COM 87959410####### 14,500 41 X Wafra I
X
Texas InstrumentCOM 88250810####### 16,500 4.75 X Wafra I
X
Textron Inc. COM 88320310####### 46,800 X Wafra In
X
The Buckle Inc. COM 11844010####### 29,800 17.9375 X Wafra I
X
The Walt Disney COM 25468710####### 163,200 42.625 X Wafra I
X
Titan Corp. COM 88826610####### 58,500 22.75 X Wafra I
X
Total Renal CareCOM 89151A10####### 11,500 20.875 X Wafra I
X
ToyMax Int'l COM 89226810####### 65,700 18 X Wafra I
X
Tyco InternationCOM 90212410####### 81,300 7.375 X Wafra I
X
U.S. FoodserviceCOM 90331R10####### 16,000 41 X Wafra I
X
USWeb CorporatioCOM 91732710####### 24,500 4.75 X Wafra I
X
USX-Marathon GroCOM 90290582####### 106,000 X Wafra In
X
Unisys Corp COM 90921410####### 27,500 18 X Wafra I
X
United TechnologCOM 91301710####### 11,500 7.375 X Wafra I
X
Universal Food CCOM 91353810####### 35,000 41 X Wafra I
X
Unocal Corp. COM 91528910####### 18,500 4.75 X Wafra I
X
Urban OutfittersCOM 91704710####### 47,000 X Wafra In
X
Vintage PetroleuCOM 92746010####### 38,800 17.9375 X Wafra I
X
Vornado Realty COM 92904210####### 25,200 42.625 X Wafra I
X
Wal-Mart Stores COM 93114210####### 201,700 22.75 X Wafra I
X
Warner-Lambert CCOM 93448810####### 55,100 20.875 X Wafra I
X
Weyerhaeuser Co.COM 96216610####### 12,000 11.5 X Wafra I
X
Winstar CommunicCOM 97551510####### 15,200 11.5 X Wafra I
X
Xerox Corp. CLA 98412110####### 68,200 23.125 X Wafra I
X
Column Total ####### #######
</TABLE>
