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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)*
HomeCapital Investment Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
43738Q101
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(CUSIP Number)
Gary J. Davis, 713 Main, P. O. Box 738, Gatesville, Texas 76528
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 27, 1997
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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SCHEDULE 13D
CUSIP NO. 43738Q101 PAGE 2 OF_______ PAGES
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gary J. Davis ###-##-####
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
3 SEC USE ONLY
4 SOURCE OF FUNDS
Not Applicable
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
7 SOLE VOTING POWER
NUMBER OF SHARES 631,101
BENEFICIALLY
OWNED BY EACH 8 SHARED VOTING POWER
REPORTING PERSON
WITH 0
9 SOLE DISPOSITIVE POWER
631,101
10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
631,101
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.67%
14 TYPE OF REPORTING PERSON
IN
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Item 1. Security and Issuer.
This statement relates to shares of Common Stock par value $.01 per
share (the "Common Stock"), of HomeCapital Investment Corporation, a Nevada
corporation (hereinafter referred to as the "Issuer"). The principal executive
offices of the Issuer are located at 6836 Austin Center Boulevard, Suite 280,
Austin, Texas 78731.
Item 2. Identity and Background.
The name, business address, principal occupation and principal office
of the person filing this statement (hereinafter referred to as the
"Registrant") are as follows:
Name: Gary J. Davis
Business Address: 713 Main, P. O. Box 738, Gatesville, Texas
76528 Principal Occupation: Investments
During the last five years, the Registrant has neither (i) been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) nor (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction which resulted in the Registrant
being subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state
securities laws or the finding of any violation with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
Registrant received his initial 738,141 shares of Common Stock from
the Issuer in exchange for 1,000 shares of Common Stock of Home Owners Mortgage
and Equity, Inc., a Delaware corporation. Registrant has since used personal
funds to acquire, for cash, in a combination of private and open market
transactions, an additional 39,243 shares and has sold, for cash, in both
private and open market transactions, an aggregate of 146,283 shares.
Item 4. Purpose of Transaction.
On March 26 and 27, 1997 Registrant sold an aggregate of 79,000 shares
of Common Stock resulting in a cumulative net decrease in Registrant's shares
of greater than 1% of the outstanding shares of Common Stock. Registrant has
since sold an additional 41,000 shares of Common Stock. Registrant acquired
and sold his shares for investment purposes. Registrant has no plans to
purchase additional shares but may sell shares in the future subject to market
conditions in order to diversify his investment portfolio.
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Item 5. Interest in Securities of the Issuer.
Registrant owns 631,101 shares of Common Stock as of October 14, 1997,
representing 7.67% of the outstanding Common Stock of Issuer based on 8,226,883
shares of Common Stock outstanding, as reported in the Issuer's most recent
annual report to shareholders. Registrant has sole voting power with respect
to such shares.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of Issuer.
Not Applicable.
Item 7. Material to be Filed as Exhibits.
None.
[Remainder of this page intentionally left blank.]
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
By: /s/ Gary J. Davis
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Gary J. Davis
Date: October 14, 1997
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE
FEDERAL CRIMINAL VIOLATIONS.
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