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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

SPORT-HALEY, INC.
(Name of Issuer)
Common Stock, no par value per share
(Title of Class of Securities)
848925103
(CUSIP Number)
August 16, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* 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).

 
 

 

                     
CUSIP No.
  
848925103 
 13G/A 

 

           
1   NAMES OF REPORTING PERSONS:
Fondren Management LP
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   o
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Texas
       
  5   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  0
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  0.0%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  PN
     *SEE INSTRUCTIONS BEFORE FILLING OUT

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AMENDMENT NO. 2 TO SCHEDULE 13G
     This Amendment No. 2 to Schedule 13G (the “Schedule 13G”) is being filed on behalf of Fondren Management LP, a Texas limited partnership (“Fondren Management”), as an amendment to the Schedule 13G originally filed on November 18, 2005 (the “Original 13G”), as amended, relating to shares of common stock of Sport-Haley, Inc., a Colorado corporation (the “Issuer”), purchased by Fondren Management for the account of Fondren Partners LP, a Texas limited partnership (“Fondren Partners”) and Fondren Partners Offshore Ltd., a Cayman Islands exempted limited company (“Fondren Offshore”), of which Fondren Management is the investment manager.
The following Items are hereby amended and restated in their entirety as follows:
Item 4 Ownership.
  (a)   Fondren Management is the beneficial owner (as defined in Rule 13d-3) of 0 shares of Common Stock.
 
  (b)   Fondren Management is the beneficial owner (as defined in Rule 13d-3) of 0.0% of the outstanding shares of Common Stock. This percentage is determined by dividing the number of shares beneficially held by 2,770,252, the number of shares of Common Stock issued and outstanding as of February 9, 2007, as reported in the Issuer’s Form 10-Q dated February 12, 2007.
 
  (c)   Fondren Management may direct the vote and disposition of the 0 shares of Common Stock.
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 5 percent of the class of securities, check the following [X].
Item 10 Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

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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.
     Date: March 9, 2007
         
  FONDREN MANAGEMENT LP
 		  
  By:   BLR CAPITAL LLC, its general partner    
         
     
  By:   /s/ Bradley Radoff    
  Name:   Bradley Radoff   
  Title:   Manager   
 

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