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
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: QCI Asset Management Inc.
Address: 387 East Main Street
Suite 300
Rochester, NY 14604
13F File Number: 28-4516
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the 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 this Report on Behalf of Reporting Manager:
Name: David F. Khalil
Title: Vice President
Phone: 716-262-6080
Signature, Place, and Date of Signing:
David F. Khalil Rochester, NY May 11, 1999
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 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: 117
Form 13F Information Table Value Total: $244,600
List of Other Included Managers: 0
No. 13F File Number Name
<TABLE>
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER
VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN
CALL DSCRETN MANAGERS SOLE SHARED NONE
- ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- ------
- -- --------
<S> <C> <C> <C> <C> <C> <C>
<C> <C> <C> <C> <C>
APP FINANCE VII CORP PFD 00202pac4 15 25000 PRN SOLE
25000
HOME DEPOT CV PFD 3.25% 10/01/ CORP PFD 437076AE2 81 30000 PRN
SOLE 30000
INTEGRATED HEALTH SERVICES CON CORP PFD 45812cae6 61 100000 PRN
SOLE 100000
OFFICE DEPOT, INC. LYON CORP PFD 676220ab2 26 30000 PRN
SOLE 30000
PEP BOYS LYON CORP PFD 713278aj8 8 15000 PRN SOLE
15000
QUANEX CORP. CONVERTIBLE CORP PFD 747620ac6 105 120000 PRN
SOLE 120000
RITE AID CORP. CALLABLE 09/15/ CORP PFD 767754AL8 41 40000 PRN
SOLE 40000
TIMES MIRROR CO. CONV CORP PFD 887364ae7 7 15000 PRN
SOLE 15000
TIMES MIRROR CO. CONV. CORP PFD 887364ac1 56 125000 PRN
SOLE 125000
ABACUS DIRECT CORP. COM 002553105 2090 25484.00 SH SOLE
25484.00
ACTION PERFORMANCE COS. INC. COM 004933107 452 15000.00 SH
SOLE 15000.00
AMER HOME PRODUCTS COM 026609107 7274 111486.00SH
SOLE 111486.00
AMERICAN INT'L GROUP COM 026874107 7481 62020.00 SH SOLE
62020.00
AMERICAN ONCOLOGY RESOURCES COM 028910107 334 37100.00 SH
SOLE 37100.00
AMERIPATH INC COM 03071d109 109 12104.00 SH SOLE
12104.00
APPLIED MATERIALS INC COM 038222105 617 10000.00 SH SOLE
10000.00
ASCEND COMMUNICATIONS COM 043491109 4310 51500.00 SH
SOLE 51500.00
AT&T CORP COM 001957109 255 3192.00 SH SOLE
3192.00
AURORA BIOSCIENCES CORP COM 051920106 210 31330.00 SH
SOLE 31330.00
BANK OF AMERICA CORP COM 060505104 403 5703.00 SH SOLE
5703.00
BANK OF NEW YORK COM 064057102 6186 172126.00SH SOLE
172126.00
BANK ONE CORP. COM 06423a103 5237 95118.00 SH SOLE
95118.00
BELLSOUTH CORP COM 079860102 694 17316.00 SH SOLE
17316.00
BLYTH INDUSTRIES COM 09643p108 397 16800.00 SH SOLE
16800.00
BOSTON SCIENTIFIC CORP. COM 101137107 5005 123192.00SH
SOLE 123192.00
CBS CORPORATION COM 12490k107 4884 119662.00SH SOLE
119662.00
CENTURA BANKS, INC. COM 15640t100 484 8325.00 SH SOLE
8325.00
CIENA CORPORATION COM 171779101 2265 100671.00SH SOLE
100671.00
CISCO SYSTEMS INC COM 17275r102 2500 22815.00 SH SOLE
22815.00
CITIGROUP COM 173034109 215 3363.00 SH SOLE
3363.00
CLARIFY INC COM 180492100 663 24845.00 SH SOLE
24845.00
COLGATE PALMOLIVE COM 194162103 5390 58589.00 SH SOLE
58589.00
COLUMBUS MCKINNON CORP. COM 199333105 362 18000.00 SH
SOLE 18000.00
COMPAQ COMPUTER CORP COM 204493100 5631 177704.00SH
SOLE 177704.00
CONCORD COMMUNICATIONS INC. COM 206186108 2034 35676.00 SH
SOLE 35676.00
CORNING INC COM 219350105 9571 159521.06SH SOLE
159521.06
CSG SYSTEMS INTERNATIONAL INC. COM 126349109 757 19200.00 SH
SOLE 19200.00
CULLEN FROST BANC COM 229899109 443 9250.00 SH SOLE
9250.00
CVS CORP COM 126650100 3811 80240.00 SH SOLE
80240.00
DIAMONDS TRUST SERIES I COM 252787106 230 2357.00 SH SOLE
2357.00
DUKE ENERGY CORP. COM 264399106 398 7267.00 SH SOLE
7267.00
DUPONT COM 263534109 3698 63685.00 SH SOLE
63685.00
ELECTRONICS FOR IMAGING INC COM 286082102 1197 30700.00 SH
SOLE 30700.00
EMC CORPORATION COM 268648102 1277 10000.00 SH SOLE
10000.00
EMERSON ELEC CO COM 291011104 4343 82035.00 SH SOLE
82035.00
EXCITE INC. COM 300904109 3582 25586.00 SH SOLE
25586.00
EXXON CORP COM 302290101 5157 73085.00 SH SOLE
73085.00
FANNIE MAE COM 313586109 5476 79070.00 SH SOLE
79070.00
FIRST TENNESSEE NATL CORP COM 337162101 293 8000.00 SH
SOLE 8000.00
FORD MOTOR CO. COM 345370100 3625 63955.00 SH SOLE
63955.00
FRONTIER INSURANCE GRP INC. COM 359081106 250 21045.00 SH
SOLE 21045.00
GENERAL ELECTRIC COM 369604103 6937 62706.00 SH SOLE
62706.00
GILLETTE CO COM 375766102 4251 71519.00 SH SOLE
71519.00
GLAXO HLDS PLC COM 37733w105 5511 82328.00 SH SOLE
82328.00
GRANITE BROADCASTING CORP. COM 387241102 110 16650.00 SH
SOLE 16650.00
GTE CORPORATION COM 362320103 5171 85466.00 SH SOLE
85466.00
HARMONIC, INC. COM 413160102 981 35500.00 SH SOLE
35500.00
HEWLETT PACKARD COM 428236103 531 7830.00 SH SOLE
7830.00
HMT TECHNOLOGY CORP COM 403917107 73 20897.00 SH
SOLE 20897.00
HOME DEPOT INC COM 437076102 5896 94716.00 SH SOLE
94716.00
HYPERION SOLUTIONS CORP COM 44914m104 556 38335.00 SH
SOLE 38335.00
I2 TECHNOLOGIES INC COM 465754109 937 35250.00 SH SOLE
35250.00
INGERSOLL RAND CO COM 456866102 364 7335.00 SH SOLE
7335.00
INTEL CORPORATION COM 458140100 6783 57062.00 SH SOLE
57062.00
INTERNATIONAL BUSINESS MACHINE COM 459200101 452 2550.00 SH
SOLE 2550.00
JOHN DEERE & CO COM 244199105 6140 158951.71SH SOLE
158951.71
JOHNSON & JOHNSON COM 478160104 6407 68522.00 SH SOLE
68522.00
LATTICE SEMICONDUCTOR CORP. COM 518415104 941 20650.00 SH
SOLE 20650.00
LEGATO SYSTEMS INC. COM 524651106 1735 33600.00 SH SOLE
33600.00
LUCENT COM 549463107 4241 39272.00 SH SOLE
39272.00
MERCK & CO. INC. COM 589331107 395 4928.27 SH SOLE
4928.27
MICROCHIP TECHNOLOGY INC COM 595017104 1080 31200.00 SH
SOLE 31200.00
MICROCIDE PHARMACEUTICALS COM 595018102 199 48197.00 SH
SOLE 48197.00
MICROSOFT CORP COM 594918104 8726 97360.00 SH SOLE
97360.00
MMC NETWORKS INC COM 55308n102 1341 83808.00 SH SOLE
83808.00
MOBIL CORP COM 607059102 4147 47123.00 SH SOLE
47123.00
MOTOROLA INC. COM 620076109 5853 79898.00 SH SOLE
79898.00
MUTUAL RISK MANAGEMENT LTD. COM 628351108 658 17098.00 SH
SOLE 17098.00
NABISCO HOLDINGS CORP-CL A COM 629526104 4609 110892.00SH
SOLE 110892.00
NEUROCRINE BIOSCIENCES INC COM 64125c109 102 19600.00 SH
SOLE 19600.00
NEXTEL COMMUNICATIONS INC-A COM 65332v103 230 6284.00 SH
SOLE 6284.00
NORTEL NETWORKS CORPORATION COM 656569100 505 8129.00 SH
SOLE 8129.00
PARAMETRIC TECHNOLOGY CORP. COM 699173100 731 37026.00 SH
SOLE 37026.00
PAYCHEX COM 704326107 541 11412.00 SH SOLE
11412.00
PEDIATRIX MEDICAL GROUP INC COM 705324101 281 10000.00 SH
SOLE 10000.00
PEOPLESOFT INC. COM 712713106 150 10224.00 SH SOLE
10224.00
PEPSICO COM 713448108 5307 135428.00SH SOLE
135428.00
PFIZER INC COM 717081103 5920 42670.00 SH SOLE
42670.00
PHARMACOPEIA INC COM 71713b104 86 11897.00 SH SOLE
11897.00
PILOT NETWORK SERVICES INC COM 721596104 261 17468.00 SH
SOLE 17468.00
POLYCOM INC COM 73172k104 195 10377.00 SH SOLE
10377.00
POWERWAVE TECHNOLOGIES INC COM 739363109 350 12335.00 SH
SOLE 12335.00
RATIONAL SOFTWARE COM 75409p202 876 32680.00 SH SOLE
32680.00
REMEDY CORP. COM 759548100 1147 81954.00 SH SOLE
81954.00
S&P 500 DEPOSITORY RECEIPT COM 78462f103 255 1984.00 SH
SOLE 1984.00
SEAMED CORP COM 81218q100 1040 109476.00SH SOLE
109476.00
TEXACO INC COM 881694103 4267 75195.00 SH SOLE
75195.00
USWEB CORP. COM 917327108 1097 26600.00 SH SOLE
26600.00
VINTAGE PETE INC COM 927460105 4373 485873.00SH SOLE
485873.00
WALT DISNEY COM COM 254687106 3654 117405.00SH SOLE
117405.00
WELLS FARGO & CO COM 949746101 5428 154807.00SH SOLE
154807.00
WINSTAR COMMUNICATIONS INC. COM 975515107 837 23036.00 SH
SOLE 23036.00
WORLDCOM INC COM 55268b106 6349 71695.01 SH SOLE
71695.01
YAHOO INC COM 984332106 1010 6000.00 SH SOLE
6000.00
CADBURY SCHWEPPE PREF SER A PFD 127207207 342 13075 SH
SOLE 13075
PACIFICORP PREF PFD 695114629 241 9475 SH SOLE
9475
SI FINANCING PREF. G PFD 784252207 209 7900 SH SOLE
7900
TCI COMMUNICATION FIN PFD A PFD 872286208 483 17850 SH
SOLE 17850
UNION PACIFIC CAP TR 144A PFD 907824205 229 4600 SH SOLE
4600
CASE CORP CONV PREF CV PFD 14743r301 828 13800 SH SOLE
13800
CENDANT CORP PREFERRED CV PFD 151313301 203 7050 SH
SOLE 7050
INGERSOLL-RAND INCOME PRIDES CV PFD 456867209 737 29200 SH
SOLE 29200
MONSANTO CO PFD 6.5% CV PFD 611662305 431 9275 SH SOLE
9275
NATL AUSTRALIA BK CONV PFD CV PFD 632525309 222 7075 SH
SOLE 7075
RALSTON PURINA PFD CV PFD 751277401 297 6600 SH SOLE
6600
UNOCAL CORP 6.25 PREFFERED CV PFD 91528t207 247 4600 SH
SOLE 4600
TELEBRAS PROGROS SECS 590188629 122 15000.0000SH SOLE
15000.0000
</TABLE>
