<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13d-1 AND 13d-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
HOT TOPIC, INC.
---------------
(Name of Issuer)
COMMON STOCK
------------
(Title of Class of Securities)
441339 10 8
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(CUSIP Number)
*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).
FILED FEBRUARY 12, 1998
(REFLECTING OWNERSHIP AS OF 12/31/97)
Page 1 of 8 pages
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- -------------------------- -----------------------------
CUSIP NO.441339 10 8 13G PAGE 2 OF 6 PAGES
- -------------------------- -----------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF TEXAS
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 406,738
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY 6 SHARED VOTING POWER
EACH REPORTING PERSON -0-
WITH ------------------------------------------------
7 SOLE DISPOSITIVE POWER
406,738
------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
406,738
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.54%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
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Page 2 of 8 pages
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- -------------------------- -----------------------------
CUSIP NO.441339 10 8 13G PAGE 2 OF 6 PAGES
- -------------------------- -----------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
PHILLIPS-SMITH MANAGEMENT COMPANY
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF TEXAS
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 573
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY 6 SHARED VOTING POWER
EACH REPORTING PERSON -0-
WITH ------------------------------------------------
7 SOLE DISPOSITIVE POWER
573
------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
573
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.001%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
Page 3 of 8 pages
<PAGE> 4
- -------------------------- -----------------------------
CUSIP NO.441339 10 8 13G PAGE 2 OF 6 PAGES
- -------------------------- -----------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
CECE SMITH
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 7,540
SHARES ------------------------------------------------
BENEFICIALLY OWNED BY 6 SHARED VOTING POWER
EACH REPORTING PERSON -0-
WITH ------------------------------------------------
7 SOLE DISPOSITIVE POWER
7,540
------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,540
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.015%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
Page 4 of 8 pages
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ITEM 1.
(a) Name of Issuer: HOT TOPIC, INC.
(b) Address of Issuer's Principal Executive Officers: 3410 POMONA BOULEVARD
POMONA, CA 91766
ITEM 2.
(a)Name of Person Filing: PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P.
PHILLIPS-SMITH MANAGEMENT COMPANY
CECE SMITH
(b) Address of Principal Business Office or, if none, Residence:
5080 SPECTRUM DRIVE,
SUITE 700 WEST
DALLAS, TX 75248
(c) Place of Organization: STATE OF TEXAS (FOR THE ABOVE ENTITIES)
Citizenship: UNITED STATES (FOR CECE SMITH)
(d) Title of Class of Securities: COMMON STOCK
(e) CUSIP Number: 441339 10 8
ITEM 3. NOT APPLICABLE.
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned: As of December 31, 1997, each of the
following is the owner of record of the number of shares of Common Stock
set forth next to its or her name:
<TABLE>
<S> <C> <C>
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 406,738
PHILLIPS-SMITH MANAGEMENT COMPANY 573
CECE SMITH 7,540
(b) Percent of Class:
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 8.54%
PHILLIPS-SMITH MANAGEMENT COMPANY 0.001%
CECE SMITH 0.015%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 406,738
PHILLIPS-SMITH MANAGEMENT COMPANY 573
CECE SMITH 7,540
(ii) shared power to vote or to direct the vote:
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 0
PHILLIPS-SMITH MANAGEMENT COMPANY 0
CECE SMITH 0
</TABLE>
Page 5 of 8 pages
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<TABLE>
<S> <C> <C>
(iii) sole power to dispose or to direct the
disposition of:
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 406,738
PHILLIPS-SMITH MANAGEMENT COMPANY 573
CECE SMITH 7,540
(iv) shared power to dispose or to direct the
disposition of:
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P. 0
PHILLIPS-SMITH MANAGEMENT COMPANY 0
CECE SMITH 0
</TABLE>
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
NOT APPLICABLE.
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
NOT APPLICABLE
EXHIBIT A: Joint Filing Statement
Page 6 of 8 pages
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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.
February 11, 1998
------------------------------------------
Date
PHILLIPS-SMITH SPECIALTY RETAIL
GROUP III, L.P.
By: its General Partner,
Phillips-Smith Management Company
By: /s/ CECE SMITH
---------------------------------------
Cece Smith/General Partner
------------------------------------------
Name/Title
PHILLIPS-SMITH MANAGEMENT COMPANY
By: /s/ CECE SMITH
---------------------------------------
Cece Smith/General Partner
------------------------------------------
Name/Title
/s/ CECE SMITH
------------------------------------------
Signature
Cece Smith
------------------------------------------
Name/Title
Page 7 of 8 pages
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EXHIBIT A
JOINT FILING STATEMENT
Pursuant to Rule 13d-1(f)(1), we, the undersigned, hereby express our
agreement that the attached Schedule 13G is filed on behalf of each of us.
Date: February 11, 1998
------------------------------
PHILLIPS-SMITH SPECIALTY RETAIL GROUP III, L.P.
By: its General Partner,
Phillips-Smith Management Company
By: /s/ CECE SMITH
-----------------------------------
Cece Smith/General Partner
- --------------------------------------
Name/Title
PHILLIPS-SMITH MANAGEMENT COMPANY
By: /s/ CECE SMITH
-----------------------------------
Cece Smith/General Partner
- --------------------------------------
Name/Title
/s/ CECE SMITH
- --------------------------------------
Signature
Cece Smith
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Name/Title
Page 8 of 8 pages
