UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13-F
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: Academy Capital Management, Inc.
Address: 500 North Valley Mills Drive
Suite 208
Waco, Texas 76710
13F File Number: 28-05974
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: Terry Joel Adam
Title: President
Phone: 254-751-0555
Terry Joel Adam Waco, Texas May 14, 1999
Report Type (Check only one.):
[X ] 13F Holdings Report.
[ ] 13F Notice.
[ ] 13F Combination Report.
List of Other Managers Reporting for this Manager:
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: 20
Form 13F Information Table Value Total: $15,632
List of Other Included Managers:
None
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FORM 13F INFORMATION TABLE
TITLE OF VALUE SHARES/ SH/ PUT/ INVST OTHER VOTING AUTHORITY
NAME OF ISSUER CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRT MGRS SOLE SHARED NONE
- ------------------------------ -------- --------- -------- -------- --- ---- ------- ----- -------- -------- --------
ATT COMMON 001957109 202 2,540 SH SOLE 2,540
AGRIOBIOTECH, INC. COMMON 008494106 76 12,300 SH SOLE 12,300
AMERUS LIFE HOLDINGS, INC. CLASS A 030732101 743 30,987 SH SOLE 30,987
BELL MICROPRODUCTS, INC. CLASS A 078137106 370 61,170 SH SOLE 61,170
BLOCK DRUG, INC. CLASS A 093644102 2,215 54,025 SH SOLE 54,025
DILLARD DEPARTMENT STORES, IN CLASS A 254063100 536 21,150 SH SOLE 21,150
FRANKLIN COVEY CO. COMMON 353469109 316 35,200 SH SOLE 35,200
LAIDLAW, INC. COMMON 50730K503 241 41,600 SH SOLE 41,600
LONE STAR STEAKHOUSE & SALOON COMMON 542307103 690 67,350 SH SOLE 67,350
LUBY'S CAFETERIAS, INC. COMMON 549282101 1,217 72,150 SH SOLE 72,150
MILLENIUM CHEMICALS, INC. COMMON 599903101 633 31,897 SH SOLE 31,897
NATIONAL AUTO CREDIT CENTER, I COMMON 632900106 1,725 1,500,745 SH SOLE 1 ,500,745
NOVACARE CORPORATION COMMON 669930109 806 460,947 SH SOLE 460,947
OLSTEN COPORATION COMMON 681385100 1,398 226,096 SH SOLE 226,096
PERMIAN BASIN ROYALTY TRUST COMMON 714236106 58 13,024 SH SOLE 13,024
PHILIP MORRIS CO., INC. COMMON 718154107 350 9,950 SH SOLE 9,950
SAN JUAN BASIN ROYALTY COMMON 798241105 89 13,274 SH SOLE 13,274
UST, INC. COMMON 902911106 1,357 51,975 SH SOLE 51,975
ULTRAK, INC. COMMON 903898401 735 125,200 SH SOLE 125,200
WATTS INDUSTRIES COMMON 942749102 1,875 138,250 SH SOLE 138,250
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