UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December
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 February 14, 2000 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: 89 Form 13F
Information Table Value Total: $280,106 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>
AMERICA ONLINE INC CORP PFD 02364JAC8 537 950000 PRN SOLE 950000
APP FINANCE VII CORP PFD 00202pac4 18 25000 PRN SOLE 25000
OFFICE DEPOT, INC. LYON CORP PFD 676220ab2 7 10000 PRN SOLE 10000
TIMES MIRROR CO. CONV CORP PFD 887364ae7 19 40000 PRN SOLE 40000
ABBOTT LABORATORIES COM 002824100 5447 150005.00SH SOLE 150005.00
ACTION PERFORMANCE COS. INC. COM 004933107 392 34100.00 SH SOLE 34100.00
AMER HOME PRODUCTS COM 026609107 5001 127426.00SH SOLE 127426.00
AMERICA ONLINE COM 02364j104 348 4583.00 SH SOLE 4583.00
AMERICAN INT'L GROUP COM 026874107 8782 81220.50 SH SOLE 81220.50
AT&T CORP COM 001957109 301 5917.00 SH SOLE 5917.00
BANK OF NEW YORK COM 064057102 7221 180522.00SH SOLE 180522.00
BE FREE INC. COM 073308108 1259 17515.00 SH SOLE 17515.00
BELLSOUTH CORP COM 079860102 270 5772.00 SH SOLE 5772.00
BLYTH INDUSTRIES COM 09643p108 539 21950.00 SH SOLE 21950.00
BRISTOL-MYERS SQUIBB CO. COM 110122108 203 3170.00 SH SOLE 3170.00
CBS CORPORATION COM 12490k107 7667 119917.00SH SOLE 119917.00
CENTURA BANKS, INC. COM 15640t100 361 8175.00 SH SOLE 8175.00
CISCO SYSTEMS INC COM 17275r102 7912 73853.00 SH SOLE 73853.00
CITIGROUP COM 172967101 295 5300.00 SH SOLE 5300.00
COLGATE PALMOLIVE COM 194162103 8179 125827.00SH SOLE 125827.00
COLUMBUS MCKINNON CORP. COM 199333105 753 74350.00 SH SOLE 74350.00
COMPAQ COMPUTER CORP COM 204493100 5303 195949.00SH SOLE 195949.00
CONCORD COMMUNICATIONS INC. COM 206186108 621 14001.00 SH SOLE 14001.00
CONOCO INC -CL B COM 208251405 4144 166575.00SH SOLE 166575.00
CORNING INC COM 219350105 13724 106440.00SH SOLE 106440.00
CSG SYSTEMS INTERNATIONAL INC. COM 126349109 987 24740.00 SH SOLE 24740.00
CULLEN FROST BANC COM 229899109 416 16150.00 SH SOLE 16150.00
CVS CORP COM 126650100 4029 101043.00SH SOLE 101043.00
DIAMONDS TRUST SERIES I COM 252787106 967 8395.00 SH SOLE 8395.00
DOUBLECLICK INC COM 258609304 2850 11264.00 SH SOLE 11264.00
DUKE ENERGY CORP. COM 264399106 310 6186.00 SH SOLE 6186.00
DUPONT COM 263534109 4550 69063.00 SH SOLE 69063.00
EDEN ROC MINERAL CORP COM 279900104 8 100000.00SH SOLE 100000.00
ELECTRONICS FOR IMAGING INC COM 286082102 893 15364.00 SH SOLE 15364.00
EMERSON ELEC CO COM 291011104 5363 93476.00 SH SOLE 93476.00
EXXON MOBIL CORPORATION COM 30231g102 6993 86799.09 SH SOLE 86799.09
FANNIE MAE COM 313586109 5437 87079.00 SH SOLE 87079.00
FORD MOTOR CO. COM 345370100 4401 82556.00 SH SOLE 82556.00
GENERAL ELECTRIC COM 369604103 11580 74829.00 SH SOLE 74829.00
GILLETTE CO COM 375766102 3978 96589.00 SH SOLE 96589.00
GLAXO HLDS PLC COM 37733w105 5657 101248.00SH SOLE 101248.00
GLOBAL CROSSING LTD COM g3921a100 244 4874.00 SH SOLE 4874.00
GRANITE BROADCASTING CORP. COM 387241102 211 20850.00 SH SOLE 20850.00
GTE CORPORATION COM 362320103 6602 93560.00 SH SOLE 93560.00
HARMONIC, INC. COM 413160102 854 9000.00 SH SOLE 9000.00
HOME DEPOT INC COM 437076102 9723 141425.50SH SOLE 141425.50
HYPERION SOLUTIONS CORP COM 44914m104 1442 33150.00 SH SOLE 33150.00
I2 TECHNOLOGIES INC COM 465754109 2268 11630.00 SH SOLE 11630.00
INGERSOLL RAND CO COM 456866102 370 6712.00 SH SOLE 6712.00
INKTOMI CORP COM 457277101 860 9690.00 SH SOLE 9690.00
INTEL CORPORATION COM 458140100 8675 105394.00SH SOLE 105394.00
INTERNATIONAL BUSINESS MACHINE COM 459200101 832 7710.00 SH SOLE 7710.00
JOHN DEERE & CO COM 244199105 7210 166236.00SH SOLE 166236.00
JOHNSON & JOHNSON COM 478160104 6963 74667.00 SH SOLE 74667.00
LATTICE SEMICONDUCTOR CORP. COM 518415104 1329 28200.00 SH SOLE 28200.00
LEGATO SYSTEMS INC. COM 524651106 1405 20425.00 SH SOLE 20425.00
LUCENT COM 549463107 6327 84360.00 SH SOLE 84360.00
MARSHALL MINERALS COM 572489201 10 24000.00 SH SOLE 24000.00
MERCK & CO. INC. COM 589331107 557 8288.98 SH SOLE 8288.98
MERCURY INTERACTIVE CORP COM 589405109 1848 17125.00 SH SOLE 17125.00
MICREL INC COM COM 594793101 911 16000.00 SH SOLE 16000.00
MICROCHIP TECHNOLOGY INC COM 595017104 1454 21250.00 SH SOLE 21250.00
MICROSOFT CORP COM 594918104 8689 74425.00 SH SOLE 74425.00
MMC NETWORKS INC COM 55308n102 1190 34610.00 SH SOLE 34610.00
MOTOROLA INC. COM 620076109 251 1704.00 SH SOLE 1704.00
MUTUAL RISK MANAGEMENT LTD. COM 628351108 548 32598.00 SH SOLE 32598.00
NABISCO HOLDINGS CORP-CL A COM 629526104 4169 132335.00SH SOLE 132335.00
NASDAQ-100 SHARES COM 631100104 389 2126.00 SH SOLE 2126.00
NEW ERA OF NETWORKS INC. COM 644312100 312 6550.00 SH SOLE 6550.00
PAYCHEX COM 704326107 7471 186763.00SH SOLE 186763.00
PEPSICO COM 713448108 5903 167463.00SH SOLE 167463.00
PFIZER INC COM 717081103 5130 158158.00SH SOLE 158158.00
RATIONAL SOFTWARE COM 75409p202 1170 23815.00 SH SOLE 23815.00
REMEDY CORP. COM 759548100 1131 23865.00 SH SOLE 23865.00
S&P 500 DEPOSITORY RECEIPT COM 78462f103 900 6131.00 SH SOLE 6131.00
TEXACO INC COM 881694103 5091 93738.00 SH SOLE 93738.00
UNITED PARCEL SERVICE -CL B COM 911312106 5674 82232.00 SH SOLE 82232.00
USWEB CORP. COM 917327108 883 19860.00 SH SOLE 19860.00
VIGNETTE CORPORATION COM 926734104 4988 30600.00 SH SOLE 30600.00
VINTAGE PETE INC COM 927460105 7652 634376.00SH SOLE 634376.00
WALT DISNEY COM COM 254687106 4619 157928.00SH SOLE 157928.00
WELLS FARGO & CO COM 949746101 6613 163537.00SH SOLE 163537.00
WINSTAR COMMUNICATIONS INC. COM 975515107 1547 20555.00 SH SOLE 20555.00
WORLDCOM INC COM 55268b106 6602 124421.00SH SOLE 124421.00
CADBURY SCHWEPPE PREF SER A PFD 127207207 207 8775 SH SOLE 8775
TCI COMMUNICATION FIN PFD A PFD 872286208 272 10550 SH SOLE 10550
INGERSOLL-RAND INCOME PRIDES CV PFD 456867209 236 9250 SH SOLE 9250
MONSANTO CO PFD 6.5% CV PFD 611662305 301 9075 SH SOLE 9075
TRIBUNE CO (TRB) 6.25% 8/15/01 CV PFD 896047206 353 20000 SH SOLE 20000
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