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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* AVID Technology ---------------------------------- (Name of Issuer) Common Stock ---------------------------------- (Title of Class of Securities) 05367P100 ---------------------------------- (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 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). (Continued on following page(s)) Page 1 of 8 Pages CUSIP No. 05367P100 13G Page 2 of 8 Pages - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons Montgomery Asset Management, L.P. IRS ID #94-3115321 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) / / - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Citizenship or Place of Organization California - ------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Beneficially Power 2,352,800 (as of 12/31/96) Owned by -------------------------------------------------- Each Reporting (6) Shared Voting Person With Power -0- -------------------------------------------------- (7) Sole Dispositive Power 2,352,800 (as of 12/31/96) -------------------------------------------------- (8) Shared Dispositive Power -0- - ------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person 2,352,800 (as of 12/31/96) - ------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares* Not applicable - ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9) 10.99 % (as of 12/31/96) - ------------------------------------------------------------------------------- (12) Type of Reporting Person* IA - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! CUSIP No. 05367P100 13G Page 3 of 8 Pages - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above Persons Montgomery Growth Fund IRS ID #94-3187459 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group* (b) / / - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Citizenship or Place of Organization California - ------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Beneficially Power 2,000,000 (as of 12/31/96) Owned by -------------------------------------------------- Each Reporting (6) Shared Voting Person With Power -0- -------------------------------------------------- (7) Sole Dispositive Power 2,000,000 (as of 12/31/96) -------------------------------------------------- (8) Shared Dispositive Power -0- - ------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person 2,000,000 (as of 12/31/96) - ------------------------------------------------------------------------------- (10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares* Not applicable - ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9) 9.34% (as of 12/31/96) - ------------------------------------------------------------------------------- (12) Type of Reporting Person* IA - ------------------------------------------------------------------------------- *SEE INSTRUCTION BEFORE FILLING OUT! Page 4 of 8 Pages ITEM 1(A). NAME OF ISSUER AVID Technology - ------------------------------------------------------------------------------- ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES Metropolitan Tech Park, One Park West, Tewksbury, MA 01876 - ------------------------------------------------------------------------------- ITEM 2(A). NAME OF PERSON(S) FILING Montgomery Asset Management, L.P. - ------------------------------------------------------------------------------- ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE 101 California Street, San Francisco, CA 94111 - ------------------------------------------------------------------------------- ITEM 2(C). CITIZENSHIP California Limited Partnership - ------------------------------------------------------------------------------- ITEM 2(D). TITLE OF CLASS OF SECURITIES Common Stock - ------------------------------------------------------------------------------- ITEM 2(E). CUSIP NUMBER 05367P100 - ------------------------------------------------------------------------------- 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 Section 15 of the Act (b) / / Bank as defined in section 3(a)(6) of the Act (c) / / Insurance Company as defined in section 3(a)(19) of the Act (d) / / Investment Company registered under section 8 of the Investment Company Act (e) /X/ Investment Adviser registered under section 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 Rule 13d-1(b)(1)(ii)(F) (g) / / Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G) (Note: See Item 7) (h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H) Page 5 of 8 Pages ITEM 4. OWNERSHIP (a) Amount Beneficially Owned: 2,352,800 (as of 12/31/96) --------------------------------------------------------------------------- (b) Percent of Class: 10.99% (as of 12/31/96) --------------------------------------------------------------------------- (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 2,352,800 (as of 12/31/96) ----------------------------------------------------------------- (ii) shared power to vote or to direct the vote -0- ----------------------------------------------------------------- (iii) sole power to dispose or to direct the disposition of 2,352,800 (as of 12/31/96) ----------------------------------------------------------------- (iv) shared power to dispose or to direct the disposition of -0- ----------------------------------------------------------------- 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 - ------------------------------------------------------------------------------- Page 6 of 8 Pages 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 is true, complete and correct. 2/11/97 ---------------------------------------- (Date) /s/ Dana Schmidt ---------------------------------------- (Signature) Dana Schmidt - Principal ---------------------------------------- (Name/Title) Page 7 of 8 Pages 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 is true, complete and correct. 2/11/97 ---------------------------------------- (Date) /s/ M.J. Fross ---------------------------------------- (Signature) Mary Jane Fross, Treasurer ---------------------------------------- (Name/Title) Page 8 of 8 Pages JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1) This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934 (the "Act") by and among the parties listed below, each referred to herein as a "joint Filer." The Joint Filers agree that a statement of beneficial ownership as required by Section 13(d) of the Act and the Rules hereunder may be filed on each of their behalf on Schedule 13D or Schedule 13G, as appropriate, and that said joint filing any thereafter be amended by further joint filings. The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1. Dated: February 11, 1997 MONTGOMERY GROWTH FUND MONTGOMERY ASSET MANAGEMENT, L.P. a series of The Montgomery By Montgomery Asset Management, Inc. its general partner By: /s/ M.J. Fross By: /s/ Dana E. Schmidt -------------------------- ------------------------------- Mary Jane Fross, Treasurer Dana E. Schmidt - Principal