UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Admendment No. 1)
K-Swiss Inc.
Class A Common Stock
482686-10-2
Check the following box if a fee is being paid with this statement. (A fee
is not required only if th 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
Cusip # 482686-10-2 Page 2 of 6
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).
1. Name of Reporting Person
S.S. or I.R.S Identification No. of Above Person
Academy Capital Management 74-2411461
2. Check the Appropriate Box if a Member of a Group*
(a)
(b)
3. SEC Use Only
4. Citizenship or Place of Organization
Texas
5. Sole Voting Power
213,157
6. Shared Voting Power
-0-
7. Sole Dispositive Power
213,157
8. Shared Dispositive Power
Cusip # 482686-10-2 Page 3 of 6
-0-
9. Aggregate Amount Beneficially Owned by Each Reporting Person
213,157
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
11. Percent of Class Represented by Amount in Row 9
5.95%
Type of Reporting Person
IA
Item 1. (a) Name of Issuer:
K-Swiss Inc.
Item 1. (b) Address of Issuer's Principal Executive Offices:
20664 Bahama Street
Chatsworth, CA 91311
Item 2. (a) Name of Persons Filing:
Academy Capital Management
Item 2. (b) Address of Principal Business Office or, if none, Residence:
500 North Valley Mills Drive, Suite 208
Waco, Texas 76710
Item 2. (c) Citizenship
Academy Capital Management is a Texas corporation
Item 2. (d) Title of Class of Securities:
Class A Common Stock
Item 2. (e) CUSIP Number:
Cusip # 482686-10-2 Page 4 of 6
482686102
Item 3. If this statement is filed pursuant to Rules 13d-1 (b), or 13d-2 (b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Sec. 15 of the Act
(b) [ ] Bank as defined in Sec. 3 (a) (6) of the Act
(c) [ ] Insurance Company as defined in Sec. 3 (a) (19) of the Act
(d) [ ] Investment Company registered under Sec. 8 of the
Investment Company Act
(e) [ x ] Investment Advisor registered under Sec. 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to
the provisions of the Employee retirement Income Security
Act of 1974 or Endowment Fund; see Sec. 240.13d-1 (b) (ii) (F)
(g) [ ] Parent Holding Company, in accordance with Sec 240.13d-1
(b) (ii) (G) (Note: See Item 7)
(h) [ ] Group, in accordance with Sec. 240.13-1 (b) (1) (ii) (H)
Item 4. Ownership (as of December 31, 1996)
(a) Amount Beneficially Owned: See Item 9 of cover pages
(b) Percent of Class: See Item 11 of cover pages
(c) Number of shares as to which such person has:
(I) sole power to vote or to direct the vote
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition of
(iv) shared power to dispose or to direct the disposition of
See items 5-8 of cover pages
Cusip # 482686-10-2 Page 5 of 6
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities,
check the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the
purpose of and do not have the effect of changing or influencing
the control of the issuer of such securities and were not acquired
in connection with or as a participant in any transaction having
such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement
Cusip # 482686-10-2 Page 6 of 6
is true, complete and correct.
11/5/97
Date
Mr. Joel Adam
Signature
President
Name/Title
