SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C. 20549


                                 SCHEDULE 13G

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



             ----------- ACTION PERFORMANCE COMPANIES, INC. ------
                               (Name of Issuer)


             ---------------------- COMMON -----------------------
                        (Title of Class of Securities)


             --------------------- 004933107 ---------------------
                                (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 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.                            13G                    Page __ of __ Pages



- -------------------------------------------------------------------------------
   1   NAME OF REPORTING PERSON  		RAINIER INVESTMENT MANAGEMENT, INC.
       S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
       

- ------------------------------------------ 91-1457076 --------------------------
   2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
         (a)  [  ]
         (b)  [  ]

- -------------------------------------------------------------------------------
   3   SEC USE ONLY



- -------------------------------------------------------------------------------
   4   CITIZENSHIP OR PLACE OF ORGANIZATION



- ----------------- SEATTLE, WASHINGTON U.S.A. ----------------------------------
   NUMBER OF      5    SOLE VOTING POWER
     SHARES            
  BENEFICIALLY    --------- 964,175 -------------------------------------------
    OWNED BY      6    SHARED VOTING POWER
      EACH        
   REPORTING      -------------------------------------------------------------
     PERSON       7    SOLE DISPOSITIVE POWER
      WITH        
                  --------- 1,079,100 -----------------------------------------
                  8    SHARED DISPOSITIVE POWER


- -------------------------------------------------------------------------------
   9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON


- --------------------------- 1,079,100 -----------------------------------------
  10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*


- -------------------------------------------------------------------------------
  11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)


- --------------------------- 6.66% ---------------------------------------------
  12   TYPE OF REPORTING PERSON*


- --------------------------- IA ------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT



                                                            Page __ of __ Pages

Item 1.     (a)   Name of Issuer:	ACTION PERFORMANCE COMPANIES, INC.


            (b)   Address of Issuer's Principal Executive Offices:


Item 2.     (a)   Name of Person Filing:	MARY E. VOLLERT


            (b)   Address of Principal Business Office:	RAINIER INVESTMENT 
										MANAGEMENT, INC. 
										601 UNION STREET
										SUITE 2801
										SEATTLE, WA  98101	

            (c)   Citizenship:	U.S.A.


            (d)   Title of Class of Securities:	COMMON


            (e)   CUSIP Number: 	004933107


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 Section
                       240.13d-1(b)(1)(ii)(F)

            (g)   [ ]  Parent Holding Company, in accordance with Section
                       240.13d-1(b)(1)(ii)(G)

            (h)   [ ]  Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)




                                                            Page __ of __ Pages

Item 4.     Ownership.

Item 5.     Ownership of Five Percent or Less of a Class.

Item 6.     Ownership of More Than Five Percent on Behalf of Another Person.

Item 7.     Identification and Classification of the Subsidiary which Acquired
            the Security Being Reported on By the Parent Holding Company.

Item 8.     Identification and Classification of Members of the Group.

Item 9.     Notice of Dissolution of Group.

Item 10.    Certification.

            By signing below -I/we- 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/we- certify that the information set forth in this
            statement is true, complete and correct.


Date:		6/8/98

By:		MARY E. VOLLERT
   -------------------------------