WAFRA INVESTMENT ADVISORY GROUP INC /NY
13F-HR/A, 2000-08-16
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 13F

FORM 13F COVER PAGE

REPORT FOR THE QUARTER ENDED:  JUNE 30, 2000

Report for the Calendar Year or Quarter Ended	June, 2000


(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	August 15, 2000

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		180

Form 13F Information Table Value Total:		$515,795

<TABLE>	<C>	<C>

                                                                  FORM 13F                                 (SEC USE ONLY)
                                                                 06/30/2000
                                                                 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 No Market Value Principal                    As Defin Other  See Inst(a) Sole(b) Shar(c) None
                                                                           in Instr. V

A T & T Corp.     COM   00195710   $4,054,503     127,450            X                      Wafra I   X
AT&T Corp.-Liber  COM   00195720     $823,969      34,000            X                     Wafra In   X
ATMI Inc.         COM   00207R10   $1,116,000      24,000            X                      Wafra I   X
Ac Moore Arts &   COM   00086T10     $497,250      78,000            X                      Wafra I   X
Advanced Digital  COM   00752510     $637,500      40,000            X                      Wafra I   X
Aflac Inc.        COM   00105510     $735,000      16,000            X                     Wafra In   X
America Online I  COM   02364J10   $8,100,450     153,200            X                     Wafra In   X
American Express  COM   02581610   $4,831,988      92,700            X                      Wafra I   X
American Interna  COM   02687410   $7,616,938      64,825            X                     Wafra In   X
American Managem  COM   02735210     $689,391      21,000            X                      Wafra I   X
Amgen Inc.        COM   03116210   $6,153,900      87,600            X                      Wafra I   X
Ancor Communicat  COM   03332K10     $786,844      22,000            X                      Wafra I   X
Apache Corp.      COM   03741110   $2,981,794      50,700            X                     Wafra In   X
Applied Material  COM   03822210   $8,002,188      88,300            X                     Wafra In   X
Applied Science   COM   03823610     $310,500      12,000            X                      Wafra I   X
Atlas Air Inc.    COM   04916410     $394,625      11,000            X                     Wafra In   X
Atmel Corp        COM   04951310   $1,253,750      34,000            X                      Wafra I   X
Bank of America   COM   06050510   $5,985,600     139,200            X                      Wafra I   X
Bea Systems       COM   07332510     $889,875      18,000            X                     Wafra In   X
Bestfoods         COM   08658U10   $6,107,850      88,200            X                      Wafra I   X
Boston Communica  COM   10058210     $779,800      55,700            X                     Wafra In   X
Bradlees Inc.     COM   10449920     $348,750      62,000            X                      Wafra I   X
Bristol-Myers Sq  COM   11012210   $9,325,825     160,100            X                     Wafra In   X
Broadwing Inc.    COM   11162010     $594,227      23,000            X                      Wafra I   X
Bsquare Corp      COM   11776U10     $291,688      13,000            X                      Wafra I   X
CMGI Inc.         COM   12575010     $623,050      13,600            X                      Wafra I   X
CVS Corp.         COM   12665010   $4,124,000     103,100            X                      Wafra I   X
Centurytel Inc.   COM   15670010   $2,213,750      77,000            X                      Wafra I   X
Chevron Corp.     COM   16675110   $4,613,800      54,400            X                      Wafra I   X
Chiron Corp.      COM   17004010   $1,163,750      24,500            X                      Wafra I   X
Cintas Corp.      COM   17290810     $770,438      21,000            X                      Wafra I   X
Cisco Systems In  COM   17275R10  $20,676,881     325,300            X                      Wafra I   X
Citigroup Inc     COM   17296710  $12,025,900     199,600            X                      Wafra I   X
Cnet Networks In  COM   12613R10     $763,894      31,100            X                     Wafra In   X
Coastal Corp.     COM   19044110   $5,436,138      89,300            X                      Wafra I   X
Coca-Cola Compan  COM   19121610   $3,922,981      68,300            X                     Wafra In   X
Colgate-Palmoliv  COM   19416210   $5,119,313      85,500            X                      Wafra I   X
Concord EFS Inc.  COM   20619710   $1,059,500      40,750            X                     Wafra In   X
Conseco Inc.      COM   20846410     $141,375      14,500            X                      Wafra I   X
Core Laboratorie  COM   N2271710   $1,325,250      45,600            X                      Wafra I   X
Corillian Corp.   COM   21872510     $498,750      30,000            X                      Wafra I   X
Corixa Corp       COM   21887F10     $429,375      10,000            X                     Wafra In   X
Cornell Correcti  COM   21914110     $468,000      58,500            X                      Wafra I   X
Cypress Semicond  COM   23280610     $845,313      20,000            X                      Wafra I   X
Dell Computer Co  COM   24702510   $6,538,838     132,600            X                      Wafra I   X
Dendrite Interna  COM   24823910     $632,938      19,000            X                      Wafra I   X
Dollar Tree Stor  COM   25674710     $526,181      13,300            X                      Wafra I   X
Dover Corporatio  COM   26000310   $3,143,594      77,500            X                      Wafra I   X
Dow Chemical      COM   26054310   $3,839,850     127,200            X                     Wafra In   X
E Trade Group In  COM   26924610     $429,000      26,000            X                      Wafra I   X
EMC Corp/Mass     COM   26864810  $10,124,975     131,600            X                      Wafra I   X
Enron Corp.       COM   29356110   $4,147,350      64,300            X                      Wafra I   X
Equitable Resour  COM   29454910     $873,608      18,100            X                     Wafra In   X
Etoys.            COM   29786210      $63,438      10,000            X                     Wafra In   X
Exchange Applica  COM   30086710     $878,625      33,000            X                     Wafra In   X
Exodus Communica  COM   30208810     $644,875      14,000            X                      Wafra I   X
Extended Stay Am  COM   30224P10     $138,984      15,000            X                      Wafra I   X
Exxon Mobil Corp  COM   30231G10  $10,746,572     136,899            X                      Wafra I   X
FPL Group Inc.    COM   30257110   $3,677,850      74,300            X                      Wafra I   X
Fannie Mae        COM   31358610   $5,897,188     113,000            X                     Wafra In   X
Federal Agric MT  COM   31314830     $830,063      57,000            X                      Wafra I   X
Federated Depart  COM   31410H10   $3,287,250      97,400            X                      Wafra I   X
Fiserv Inc.       COM   33773810     $778,500      18,000            X                      Wafra I   X
Fleet Boston Fin  COM   33903010   $5,497,800     161,700            X                      Wafra I   X
Flow Intl Corp.   COM   34346810     $520,000      52,000            X                      Wafra I   X
G02net Inc.       COM   38348610     $805,000      16,000            X                      Wafra I   X
GTE Corp.         COM   36232010   $5,316,150      85,400            X                      Wafra I   X
Gannett Co.       COM   36473010   $3,283,706      54,900            X                      Wafra I   X
General Electric  COM   36960410  $20,542,800     387,600            X                      Wafra I   X
Hasbro Inc.       COM   41805610   $2,053,019     136,300            X                      Wafra I   X
Healthsouth Corp  COM   42192410     $826,563     115,000            X                      Wafra I   X
Hispanic Broadca  COM   43357B10     $397,500      12,000            X                      Wafra I   X
Hollinger Intern  COM   43556910     $299,750      22,000            X                      Wafra I   X
Home Depot Inc.   COM   43707610   $7,171,025     143,600            X                      Wafra I   X
Hooper Holmes In  COM   43910410     $561,094      70,000            X                      Wafra I   X
Horizon Organic   COM   44043T10     $648,125      61,000            X                      Wafra I   X
Household Int'l   COM   44181510   $4,621,750     111,200            X                      Wafra I   X
Hyseq Inc.        COM   44916330     $926,925      20,400            X                      Wafra I   X
IXL Enterprises   COM   45071810     $362,500      25,000            X                      Wafra I   X
Immunex Corp.     COM   45252810     $667,406      13,500            X                      Wafra I   X
Ingersoll-Rand C  COM   45686610   $2,596,125      64,500            X                      Wafra I   X
Inktomi Corp.     COM   45727710   $1,560,900      13,200            X                      Wafra I   X
Int'l Business M  COM   45920010   $8,578,744      78,300            X                      Wafra I   X
Integrated Devic  COM   45811810     $898,125      15,000            X                      Wafra I   X
Intel Corp.       COM   45814010  $22,780,350     170,400            X                      Wafra I   X
Internet Capital  COM   46059C10     $496,009      13,400            X                      Wafra I   X
Internet Picture  COM   45839N10     $378,125      25,000            X                      Wafra I   X
Intersil Holding  COM   46069S10     $648,750      12,000            X                      Wafra I   X
Intuit Inc.       COM   46120210   $1,261,938      30,500            X                      Wafra I   X
Ivax Corp.        COM   46582310     $952,388      23,300            X                      Wafra I   X
JDS Uniphase Cor  COM   46612J10   $3,188,675      26,600            X                      Wafra I   X
Jabil Circuit In  COM   46631310   $1,489,922      30,000            X                      Wafra I   X
Johnson & Johnso  COM   47816010   $8,241,688      80,900            X                      Wafra I   X
Keebler Foods Co  COM   48725610     $779,625      21,000            X                      Wafra I   X
Keystone Automot  COM   49338N10     $693,750     100,000            X                      Wafra I   X
Lendingtree Inc.  COM   52602Q10     $412,500      55,000            X                      Wafra I   X
Lilly (Eli) & Co  COM   53245710   $5,013,725      50,200            X                      Wafra I   X
Lucent Technolog  COM   54946310   $4,962,394      85,100            X                      Wafra I   X
Lycos Inc.        COM   55081810     $918,000      17,000            X                      Wafra I   X
MSC Industrial D  COM   55353010     $791,766      38,000            X                      Wafra I   X
Marchfirst Inc.   COM   96683410     $401,500      22,000            X                      Wafra I   X
Matthew Int'l Co  COM   57712810     $420,500      14,500            X                      Wafra I   X
McLeodusa Inc. C  COM   58226610     $413,750      20,000            X                      Wafra I   X
Medimmune Inc.    COM   58469910     $888,000      12,000            X                      Wafra I   X
Merck & Co. Inc.  COM   58933110   $6,137,663      80,100            X                      Wafra I   X
Metro One Teleco  COM   59163F10     $131,906      10,500            X                      Wafra I   X
Microsoft Corp.   COM   59491810  $14,272,000     178,400            X                      Wafra I   X
Millennium Pharm  COM   59990210   $1,398,438      12,500            X                      Wafra I   X
Moog Inc -CL A    COM   61539420     $506,400      19,200            X                      Wafra I   X
Morgan St Dean W  COM   61744644   $8,241,750      99,000            X                      Wafra I   X
Motorola Inc.     COM   62007610   $4,201,313     138,600            X                      Wafra I   X
Mutual Risk Mana  COM   62835110     $173,125      10,000            X                      Wafra I   X
Nabors Industrie  COM   62956810     $831,172      20,000            X                      Wafra I   X
Netcentives Inc.  COM   64108P10     $242,125      13,000            X                      Wafra I   X
Netratings Inc.   COM   64116M10     $333,125      13,000            X                      Wafra I   X
Nextcard Inc.     COM   65332K10     $442,000      52,000            X                      Wafra I   X
Nike Inc.         COM   65410610   $3,181,019      79,900            X                      Wafra I   X
Nvidia Corp.      COM   67066G10     $711,900      11,200            X                      Wafra I   X
OM Group Inc.     COM   67087210     $968,000      22,000            X                      Wafra I   X
Ocean Energy Inc  COM   67481E10     $219,906      15,500            X                      Wafra I   X
Oracle Corporati  COM   68389X10  $10,037,063     119,400            X                      Wafra I   X
Orbital Sciences  COM   68556410     $304,688      25,000            X                      Wafra I   X
Organic Inc.      COM   68617E10     $107,250      11,000            X                      Wafra I   X
Orthofix Int'l N  COM   N6748L10     $952,738      53,300            X                      Wafra I   X
PRI Automation    COM   69357H10     $751,992      11,500            X                      Wafra I   X
Pacific Sun Wear  COM   69487310     $243,750      13,000            X                      Wafra I   X
Patterson Energy  COM   70341410     $570,000      20,000            X                      Wafra I   X
Pepsico Inc.      COM   71344810   $4,852,575     109,200            X                      Wafra I   X
Pfizer Inc.       COM   71708110  $15,762,000     328,375            X                      Wafra I   X
Phillip Morris C  COM   71815410   $4,029,531     151,700            X                      Wafra I   X
Powerwave Techno  COM   73936310     $462,000      10,500            X                      Wafra I   X
Pride Internatio  COM   74193210     $371,484      15,000            X                      Wafra I   X
Princeton Video   COM   74247610     $711,574     123,752            X                      Wafra I   X
Procter & Gamble  COM   74271810   $3,966,825      69,900            X                      Wafra I   X
QuickSilver Inc.  COM   74838C10     $661,406      42,500            X                      Wafra I   X
Ralston-Ralston   COM   75127730     $797,500      40,000            X                      Wafra I   X
Realnetworks Inc  COM   75605L10   $1,056,756      20,900            X                      Wafra I   X
Reinsurance Grou  COM   75935110     $316,313      10,500            X                      Wafra I   X
Robert Half Intl  COM   77032310     $769,078      27,000            X                      Wafra I   X
Rohm & Haas Co.   COM   77537110   $1,300,650      37,700            X                      Wafra I   X
S1 Corporation    COM   78463B10     $690,050      29,600            X                      Wafra I   X
SBC Communicatio  COM   78387G10   $8,254,400     187,600            X                      Wafra I   X
SCI Systems Inc.  COM   78389010     $429,945      11,000            X                      Wafra I   X
Safeguard Scient  COM   78644910     $545,063      17,000            X                      Wafra I   X
Safeway Inc.      COM   78651420   $5,807,588     128,700            X                      Wafra I   X
Saks Inc.         COM   79377W10   $4,021,851     385,327            X                      Wafra I   X
Schlumberger Ltd  COM   80685710   $3,686,475      49,400            X                      Wafra I   X
Sepracor Inc.     COM   81731510   $1,266,563      10,500            X                      Wafra I   X
Signal Technolog  COM   82667510     $712,500      28,500            X                      Wafra I   X
Silicon Storage   COM   82705710     $883,125      10,000            X                      Wafra I   X
Skillsoft Corpor  COM   83066P10     $494,375      35,000            X                      Wafra I   X
Southwest Airlin  COM   84474110   $2,974,134     157,050            X                      Wafra I   X
Spectrasite Hold  COM   84760T10     $283,750      10,000            X                      Wafra I   X
Sprint Corp (Fon  COM   85206110   $1,519,800      29,800            X                      Wafra I   X
Starbucks Corp.   COM   85524410     $840,125      22,000            X                      Wafra I   X
Stillwater Minin  COM   86074Q10     $602,100      21,600            X                      Wafra I   X
Stryker Corp      COM   86366710     $634,375      14,500            X                      Wafra I   X
Sun Microsystems  COM   86681010   $7,838,813      86,200            X                      Wafra I   X
Symbol Technolog  COM   87150810   $1,286,130      23,800            X                      Wafra I   X
Tellabs Inc.      COM   87966410   $5,940,375      86,800            X                      Wafra I   X
Texas Instrument  COM   88250810   $8,331,794     121,300            X                      Wafra I   X
Textron Inc.      COM   88320310   $3,763,856      69,300            X                      Wafra I   X
Time Warner Inc.  COM   88731510   $2,781,600      36,600            X                      Wafra I   X
Titan Corp.       COM   88826610     $446,484      10,000            X                      Wafra I   X
Transmedia Netwo  COM   89376730     $170,000      40,000            X                      Wafra I   X
Tyco Internation  COM   90212410   $5,007,538     105,700            X                      Wafra I   X
USX-Marathon Gro  COM   90290582   $2,999,981     119,700            X                      Wafra I   X
United Technolog  COM   91301710     $812,475      13,800            X                      Wafra I   X
Univision Commun  COM   91490610   $1,087,160      10,500            X                      Wafra I   X
VerticalNet Inc.  COM   92532L10     $369,375      10,000            X                      Wafra I   X
Viad Corp.        COM   92552R10     $817,500      30,000            X                      Wafra I   X
Vicinity Corp.    COM   92565310     $451,375      23,000            X                      Wafra I   X
Vitesse Semicond  COM   92849710   $2,354,000      32,000            X                      Wafra I   X
Wal-Mart Stores   COM   93114210  $12,579,538     218,300            X                      Wafra I   X
Wendy's Int'l In  COM   95059010   $2,493,750     140,000            X                      Wafra I   X
Westwood One Inc  COM   96181510     $493,340      14,500            X                      Wafra I   X
Weyerhaeuser Co.  COM   96216610   $3,328,200      77,400            X                      Wafra I   X
Williams Co.      COM   96945710     $833,828      20,000            X                      Wafra I   X
Winstar Communic  COM   97551510     $914,625      27,000            X                      Wafra I   X
Worldcom Inc.     COM   98157D10   $7,030,344     153,250            X                      Wafra I   X
Column Total                     $515,795,004  11,143,578

</TABLE>


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