UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE13G
Under the Securities Exchange Act of 1934
PHOENIX FOOTWEAR GROUP, INC.
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(Name of Issuer)
Common
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(Title of Class of Securities)
71903M100
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(CUSIP Number)
December 31, 2006
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
/x / Rule 13d-1(b)
/x/ Rule 13d-1(c)
/ / 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 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).
Potential persons who are to respond to the collection of
information contained in this form are not required to respond
unless the form displays a currently valid OMB control number.
SEC 1745 (3-98)
Page 1 of 7
CUSIP No. 71903M100
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
WEDBUSH, Inc.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) /x/
(b) / /
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3. SEC Use Only
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4. Citizenship or Place of Organization
California
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Number of Shares 5. Sole Voting Power 61,900
Beneficially by ----------------------------------------------
Owned by Each 6. Shared Voting Power 485,400
Reporting ----------------------------------------------
Person With: 7. Sole Dispositive Power 61,900
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8.Shared Dispositive Power 485,400
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
485,400
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
/x/
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11. Percent of Class Represented by Amount in Row (9)
5.8%
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12. Type of Reporting Person (See Instructions)
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CO
Page 2 of 7
CUSIP No. 71903M100
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Wedbush Morgan Securities, Inc.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) /x/
(b) / /
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States of America
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Number of Shares 5. Sole Voting Power 423,500
Beneficially by ----------------------------------------------
Owned by Each 6. Shared Voting Power 485,400
Reporting ----------------------------------------------
Person With: 7. Sole Dispositive Power 423,500
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8.Shared Dispositive Power 485,400
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
485,400
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
/x/
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11. Percent of Class Represented by Amount in Row (9)
5.8%
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12. Type of Reporting Person (See Instructions)
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BD
Page 3 of 7
Cusip No. 71903M100 13G PHOENIX FOOTWEAR GROUP,, INC.
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Item 1. Name and Address of Issuer.
(a) This statement relates to the shares of the common stock of
PHOENIX FOOTWEAR GROUP, INC. ("Issuer").
(b) Issuer's address: 5840 El Camino Real,Suite 106
Carlsbad, California 92008
Item 2. Filers
(a) This statement is filed by WEDBUSH, Inc. ("WI")
and by Wedbush Morgan Securities ("WMS").
(b) Business address of the above filers are as follows:
WI - 1000 Wilshire Blvd., Los Angeles, CA 90017-2459
WMS - P.O. Box 30014, Los Angeles, CA 90030-0014
(c) WI is a California corporation. WMS is a California
corporation.
(d) Common stock
(e) 71903M100
Item 3. Classification of Filers
(a)--(g) Not applicable
Page 4 of 7
Item 4. Ownership
(a) WI has sole ownership of 61,900 Shares of the Issuer and
WMS has sole ownership of 423,500 Shares.
(b) Of the Shares outstanding, WI owns approximately .74%
and WMS owns approximately 5.05%.
(c) Number of Shares as to which the filer has:
(i) Sole power to vote: WI has sole power to vote on
61,900 Shares and WMS has 423,500 sole Shares.
(ii) Shared power to vote: WI has 485,400 Shares and
WMS has 485,400 Shares.
(iii) Sole power to dispose: WI has sole power to
dispose on 61,900 Shares and WMS has 423,500 Shares
to dispose.
(iv) Shared power to dispose; WI has 485,400 Shares
and WMS has 485,400 Shares.
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.
Not applicable.
Item 7. Identification and Classification of Subsidiary which
Acquired the Securities Being Reported on by the Parent
Holding Company.
Not Applicable.
Page 5 of 7
Item 8. Identification and Classification of Members of a Group.
Name Category No.ofShares Percentage
WEDBUSH, Inc. CO 61,900 .74%
Wedbush Morgan Securities, Inc. BD 423,500 5.05%
WI owns a majority of the shares of WMS.
Item 9. Notice of Dissolution of Group.
Not applicable.
Page 6 of 7
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 purpose 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.
WEDBUSH, Inc.
1/23/07
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Date
ERIC D. WEDBUSH
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Eric D. Wedbush
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Signature
ERIC D. WEDBUSH
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Eric D. Wedbush/ President
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Name/Title
Edward W. Wedbush
1/23/07
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Date
EDWARD W. WEDBUSH
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Edward W. Wedbush
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Signature
EDWARD W. WEDBUSH
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Edward W. Wedbush
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Name/Title
Page 7 of 7