UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Southern Electronics Corporation
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
842811 10 1
(CUSIP Number)
Check the following box if a fee is being paid with this statement.
(A fee is not required only if the filing person: (1) has a
previous statement on file reporting beneficial ownership of more
than five percent of the class of securities described in Item 1;
and (2) has filed no amendment subsequent thereto reporting
beneficial ownership of five percent or less of such class.) (See
Rule 13d-7).
*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 the disclosures provided in a prior cover page.
The information required in 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).
13G
CUSIP NO. 842811 10 1
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trust FBO Julie Diamond
58-6205870
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b)
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Georgia
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH
5 SOLE VOTING POWER
2,189
6 SHARED VOTING POWER
758,101
7 SOLE DISPOSITIVE POWER
2,189
8 SHARED DISPOSITIVE POWER
758,101
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
760,290
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.2%
12 TYPE OF REPORTING PERSON
OO
Item 1(a).Name of Issuer:
Southern Electronics Corporation
Item 1(b).Address of Issuer's Principal Executive Offices:
4916 North Royal Atlanta Drive
Atlanta, Georgia 30085
Item 2(a).Name of Person Filing:
Trust FBO Julie Diamond
Item 2(b).Address of Principal Business Office or, if None,
Residence:
c/o Mark Diamond, Trustee
4916 North Royal Atlanta Drive
Atlanta, Georgia 30085
Item 2(c).Citizenship:
Georgia
Item 2(d).Title of Class of Securities:
Common Stock, $.01 par value
Item 2(e).CUSIP Number:
842811 10 1
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b), check whether the person filing is a:
Inapplicable
Item 4. Ownership:
(a) Amount beneficially owned: 760,290
(b) Percent of class: 10.2%
(c) Number of shares as to which such person has
(i) sole power to vote or direct the vote: 2,189
(ii) shared power to vote or direct the vote: 758,101*
<PAGE>
(iii) sole power to dispose or to direct the disposition
of: 2,189
(iv) shared power to dispose or direct the disposition
of: 758,101*
* The indicated shares are held by SED
Associates, a general partnership
in which the reporting person holds an
approximate 1.63% interest. The
reporting person disclaims beneficial
ownership of the remaining interest
in the shares held by the partnership. The
general partners of SED Associates are
identified in Exhibit A hereto.
Item 5. Ownership of Five Percent or Less of a Class:
Inapplicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
Inapplicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company:
Inapplicable
Item 8. Identification and Classification of the Members of the
Group:
Inapplicable
Item 9. Notice of Dissolution of Group:
Inapplicable
Item 10. Certification:
Inapplicable
<PAGE>
SIGNATURE
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.
Date: February ___, 1996
Signature:
Name/Title: Mark Diamond, Trustee
EXHIBIT A
GENERAL PARTNERS
OF
SED ASSOCIATES
*1. Gerald Diamond
2. Trust FBO Julie Diamond, c/o Mark Diamond, Trustee
3. Mark Diamond
**4. ZS Partners, c/o Michel Zaleski, Ned L. Sherwood and Thomas
Epstein, General Partners
* Managing Partner
** ZS Partners exercises no voting or investment powers with
respect to the shares of Common Stock held by SED
Associates, but is entitled to a percentage of the gain
resulting from any sale of Common Stock by SED Associate.
Mr. Epstein exercises no voting or dispositive control over
the shares held by ZS Partners. As a result, Mr. Epstein
has not filed a Schedule 13G for the year ended December 31,
1995.
