UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
REPORT FOR THE QUARTER ENDED: DECEMBER 31, 1999
Report for the Calendar Year or Quarter Ended December, 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 February 10, 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 170
Form 13F Information Table Value Total: $513,090
<TABLE> <C> <C>
FORM 13F
(SEC USE ONLY)
########
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####### 122,850 8.5 X Wafra I
X
Abercrombie & Fi COM 00289620####### 24,000 X Wafra In
X
Activision Inc. COM 00493020####### 37,500 75.5625 X Wafra I
X
Advanced Digital COM 00752510####### 20,500 34.5 X Wafra I
X
Aflac Inc. COM 00105510####### 18,000 26.8125 X Wafra I
X
America Online I COM 02364J10####### 132,600 X Wafra In
X
American Express COM 02581610####### 36,900 X Wafra In
X
American Interna COM 02687410####### 76,625 21 X Wafra I
X
American Woodmar COM 03050610####### 29,300 X Wafra In
X
Amgen Inc. COM 03116210####### 101,900 15.5 X Wafra I
X
Apache Corp. COM 03741110####### 48,400 1 X Wafra I
X
Applied Material COM 03822210####### 50,800 3.625 X Wafra I
X
Applied Science COM 03823610####### 12,000 X Wafra In
X
Associates First COM 04600810####### 22,500 X Wafra In
X
AT&T Corp.-Liber COM 00195720####### 17,000 4.4375 X Wafra I
X
Atlas Air Inc. COM 04916410####### 25,000 X Wafra In
X
ATMI Inc. COM 00207R10####### 24,000 77.625 X Wafra I
X
Bank of America COM 06050510####### 118,600 7.875 X Wafra I
X
Barrett Resource COM 06848020####### 10,000 X Wafra In
X
Bea Systems COM 07332510####### 12,000 40.75 X Wafra I
X
Bestfoods COM 08658U10####### 65,400 15.25 X Wafra In
X
Bradlees Inc. COM 10449920####### 63,500 37.31 X Wafra I
X
Bristol-Myers Sq COM 11012210####### 111,900 X Wafra In
X
Broadwing Inc. COM 11162010####### 25,000 23.1875 X Wafra I
X
Butler Int'l Inc COM 12364910####### 66,650 14.625 X Wafra I
X
Cabot Oil & Gas COM 12709710####### 36,200 64.25 X Wafra I
X
Carey Internatio COM 14175010####### 10,000 9.25 X Wafra I
X
Centurytel Inc. COM 15670010####### 74,800 42.25 X Wafra I
X
Charter Communic COM 16117M10####### 41,500 9.12 X Wafra I
X
Chase Manhattan COM 16161A10####### 78,900 3.5 X Wafra I
X
Chevron Corp. COM 16675110####### 52,500 9.37 X Wafra I
X
Ciber Inc. COM 17163B10####### 33,000 13 X Wafra I
X
Cisco Systems In COM 17275R10####### 167,500 16.375 X Wafra I
X
Citigroup Inc COM 17296710####### 192,900 X Wafra In
X
CK Witco Corpora COM 12562C10####### 25,000 16 X Wafra I
X
Clearnet Communi COM 18490210####### 20,000 X Wafra In
X
Cnet Inc. COM 12594510####### 25,200 X Wafra I
X
Coastal Corp. COM 19044110####### 57,900 X Wafra In
X
Coca-Cola Compan COM 19121610####### 99,300 2.37 X Wafra I
X
Colgate-Palmoliv COM 19416210####### 82,200 37.9375 X Wafra I
X
Computer Horizon COM 20590810####### 42,500 6.25 X Wafra I
X
Core Laboratorie COM 2182531 ####### 53,600 X Wafra In
X
Cornell Correcti COM 21914110####### 50,500 18.25 X Wafra I
X
Countrywide Cred COM 22237210####### 25,000 38 X Wafra I
X
Crescent Real Es COM 14441K10####### 40,200 13.5 X Wafra I
X
CVS Corp. COM 12665010####### 120,600 42.19 X Wafra I
X
Dayton Hudson Co COM 23975310####### 68,800 11 X Wafra I
X
Dell Computer Co COM 24702510####### 149,500 30 X Wafra I
X
Dendrite Interna COM 24823910####### 15,000 X Wafra In
X
Dial Corp. COM 25247D10####### 33,400 20.4375 X Wafra I
X
Digital Lightwav COM 25385510####### 13,500 47.75 X Wafra I
X
Dover Corporatio COM 26000310####### 94,700 15.75 X Wafra I
X
Dow Chemical COM 26054310####### 40,600 X Wafra In
X
E Trade Group In COM 26924610####### 22,000 X Wafra In
X
E.Spire Communic COM 26915310####### 65,000 X Wafra In
X
Eccs Inc. COM 26825H10####### 15,000 4.25 X Wafra I
X
Edelbrock Corp. COM 27943410####### 17,200 10.3125 X Wafra I
X
EMC Corp/Mass COM 26864810####### 66,100 4.875 X Wafra I
X
Enron Corp. COM 29356110####### 121,700 7.625 X Wafra I
X
Equitable Resour COM 29454910####### 21,100 X Wafra In
X
Equity Residenti COM 29476L10####### 29,100 11.625 X Wafra I
X
Exchange Applica COM 30086710####### 12,500 22.1875 X Wafra I
X
Express Scripts COM 30218210####### 15,500 6.625 X Wafra I
X
Exxon Mobil Corp COM 30231G10####### 131,999 7.25 X Wafra I
X
Fannie Mae COM 31358610####### 107,700 46.25 X Wafra I
X
Federal Agric MT COM 31314830####### 32,500 48.19 X Wafra I
X
Federated Depart COM 31410H10####### 94,200 10.5 X Wafra I
X
Fei Company COM 30241L10####### 10,500 X Wafra I
X
First Industrial COM 32054K10####### 32,700 7.125 X Wafra I
X
Flow Intl Corp. COM 34346810####### 52,000 23.5 X Wafra I
X
FPL Group Inc. COM 30257110####### 71,900 29.4375 X Wafra I
X
Gannett Co. COM 36473010####### 52,800 44.375 X Wafra I
X
General Electric COM 36960410####### 132,300 X Wafra I
X
GTE Corp. COM 36232010####### 82,800 X Wafra I
X
Hasbro Inc. COM 41805610####### 130,400 50.875 X Wafra I
X
Healthcare Servi COM 42190610####### 79,000 X Wafra I
X
Healthsouth Corp COM 42192410####### 115,000 21.125 X Wafra I
X
Heico Corp-Cl A COM 42280620####### 39,000 25.0625 X Wafra I
X
Home Depot Inc. COM 43707610####### 138,300 9.25 X Wafra I
X
Horizon Organic COM 44043T10####### 65,000 4.9375 X Wafra I
X
Household Int'l COM 44181510####### 107,000 10.125 X Wafra I
X
ICOS Corporation COM 44929510####### 22,800 5.125 X Wafra I
X
Impath Inc. COM 45255910####### 27,500 X Wafra I
X
Ingersoll-Rand C COM 45686610####### 60,600 X Wafra I
X
Inktomi Corp. COM 45727710####### 30,200 X Wafra I
X
Intel Corp. COM 45814010####### 172,900 20 X Wafra I
X
Interactive Pict COM 45839N10####### 20,000 62.5625 X Wafra I
X
Int'l Business M COM 45920010####### 65,800 4.5625 X Wafra I
X
IXL Enterprises COM 45071810####### 22,000 X Wafra I
X
Johnson & Johnso COM 47816010####### 78,500 41 X Wafra I
X
Keebler Foods Co COM 48725610####### 29,000 X Wafra I
X
Keystone Automot COM 49338N10####### 32,500 17.9375 X Wafra I
X
Kroll O'Gara Com COM 50105010####### 64,000 22.75 X Wafra I
X
Legato Systems I COM 52465110####### 11,000 42.625 X Wafra I
X
Lilly (Eli) & Co COM 53245710####### 49,000 17.9375 X Wafra I
X
Lucent Technolog COM 54946310####### 148,400 42.625 X Wafra I
X
Lycos Inc. COM 55081810####### 10,000 22.75 X Wafra I
X
Mack-Cali Realty COM 55448910####### 30,600 42.625 X Wafra I
X
Matthew Int'l Co COM 57712810####### 27,800 20.875 X Wafra I
X
MCI Worldcom Inc COM 55268B10####### 140,250 17.9375 X Wafra I
X
McLeodusa Inc. C COM 58226610####### 10,000 20.875 X Wafra I
X
Medical Manager COM 58461U10####### 12,500 11.5 X Wafra I
X
Meditrust Corp. COM 58501T30####### 35,900 X Wafra I
X
Merck & Co. Inc. COM 58933110####### 108,600 X Wafra I
X
Metris Companies COM 59159810####### 27,000 X Wafra I
X
Microsoft Corp. COM 59491810####### 176,400 X Wafra I
X
Microtouch Syste COM 59514510####### 31,500 X Wafra I
X
Moog Inc -CL A COM 61539420####### 24,500 X Wafra I
X
Morgan St Dean W COM 61744644####### 53,200 X Wafra I
X
Motorola Inc. COM 62007610####### 36,200 X Wafra I
X
Mutual Risk Mana COM 62835110####### 10,000 X Wafra I
X
Nationwide Finan COM 63861210####### 23,500 X Wafra I
X
Net Bank Inc COM 64093310####### 19,800 X Wafra I
X
Netratings Inc. COM 64116M10####### 25,000 X Wafra I
X
Nextcard Inc. COM 65332K10####### 28,000 X Wafra I
X
Nvidia Corp. COM 67066G10####### 19,000 X Wafra I
X
OM Group Inc. COM 67087210####### 23,400 X Wafra I
X
On Technology Co COM 68219P10####### 20,000 X Wafra I
X
Orthofix Int'l N COM N6748L10####### 64,900 X Wafra I
X
Pacific Sun Wear COM 69487310####### 21,050 X Wafra I
X
Pathogenesis Cor COM 70321E10####### 25,000 X Wafra I
X
Patterson Energy COM 70341410####### 20,000 X Wafra I
X
Pepsico Inc. COM 71344810####### 105,800 X Wafra I
X
Pfizer Inc. COM 71708110####### 138,800 X Wafra I
X
Phillip Morris C COM 71815410####### 147,000 X Wafra I
X
Phillips Petrole COM 71850710####### 16,000 X Wafra I
X
Plantronics Inc. COM 72749310####### 19,000 X Wafra I
X
PRI Automation COM 69357H10####### 15,500 X Wafra I
X
Pride Internatio COM 74193210####### 15,000 X Wafra I
X
Princeton Video COM 74247610####### 123,752 X Wafra I
X
Procter & Gamble COM 74271810####### 83,400 X Wafra I
X
QuickSilver Inc. COM 74838C10####### 42,500 X Wafra I
X
Radian Group Inc COM 75023610####### 18,000 X Wafra I
X
Radisys Corp. COM 75045910####### 12,000 X Wafra I
X
Ralston-Ralston COM 75127730####### 30,000 X Wafra I
X
Reckson Associat COM 75621K10####### 48,100 X Wafra I
X
Rohm & Haas Co. COM 77537110####### 36,300 X Wafra I
X
S1 Corporation COM 78463B10####### 22,400 X Wafra I
X
Safeway Inc. COM 78651420####### 114,200 X Wafra I
X
Saks Inc. COM 79377W10####### 385,327 X Wafra I
X
Santa Cruz Opera COM 80183310####### 32,500 X Wafra I
X
Sawtek Inc. COM 80546810####### 13,000 X Wafra I
X
SBC Communicatio COM 78387G10####### 181,000 X Wafra I
X
Schlumberger Ltd COM 80685710####### 48,400 X Wafra I
X
Schwab (Charles) COM 80851310####### 13,000 X Wafra I
X
Shoe Carnival In COM 82488910####### 58,100 X Wafra I
X
Signal Technolog COM 82667510####### 41,800 X Wafra I
X
Silicon Storage COM 82705710####### 27,000 X Wafra I
X
Southwest Airlin COM 84474110####### 200,850 X Wafra I
X
Spieker Properti COM 84849710####### 29,300 X Wafra I
X
Sprint Corp (Fon COM 85206110####### 28,900 X Wafra I
X
Starbucks Corp. COM 85524410####### 32,000 X Wafra I
X
Starmedia Networ COM 85554610####### 20,500 X Wafra I
X
Steinway Musical COM 85849510####### 36,800 X Wafra I
X
Stericycle Inc. COM 85891210####### 40,000 X Wafra I
X
Stillwater Minin COM 86074Q10####### 27,000 X Wafra I
X
Student Advantag COM 86386Q10####### 20,000 X Wafra I
X
Sun Microsystems COM 86681010####### 92,500 X Wafra I
X
Sykes Enterprise COM 87123710####### 10,000 X Wafra I
X
Tarrant Apparel COM 87628910####### 32,500 X Wafra I
X
Texas Instrument COM 88250810####### 67,700 X Wafra I
X
Textron Inc. COM 88320310####### 50,800 X Wafra I
X
Titan Corp. COM 88826610####### 21,000 X Wafra I
X
Tommy Hilfiger COM G8915Z10####### 31,500 X Wafra I
X
Transmedia Netwo COM 89376730$74,000 29,600 X Wafra I
X
Transmontaigive COM 89393410####### 39,900 X Wafra I
X
TUT Systems COM 90110310####### 19,500 X Wafra I
X
Tyco Internation COM 90212410####### 136,800 X Wafra I
X
U.S. Foodservice COM 90331R10####### 40,000 X Wafra I
X
United Technolog COM 91301710####### 14,500 X Wafra I
X
Universal Food C COM 91353810####### 32,000 X Wafra I
X
USX-Marathon Gro COM 90290582####### 115,100 X Wafra I
X
Viad Corp. COM 92552R10####### 28,000 X Wafra I
X
Vintage Petroleu COM 92746010####### 38,800 X Wafra I
X
Visio Corp. COM 92791410####### 20,000 X Wafra I
X
Vornado Realty COM 92904210####### 25,200 X Wafra I
X
Wal-Mart Stores COM 93114210####### 210,800 X Wafra I
X
Warner-Lambert C COM 93448810####### 60,800 X Wafra I
X
Wendy's Int'l In COM 95059010####### 134,500 X Wafra I
X
Weyerhaeuser Co. COM 96216610####### 85,600 X Wafra I
X
Williams Co. COM 96945710####### 23,000 X Wafra I
X
Wink Communicati COM 97416810####### 12,400 X Wafra I
X
Winstar Communic COM 97551510####### 12,500 X Wafra I
X
Xpedior Inc. COM 98413B10####### 30,000 X Wafra I
X
Column Total ####### #######
FORM 13F
(SEC USE ONLY)
########
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
</TABLE>
