-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Hq5U3J4PgzvTWrqsIVn+kR1jbuYnwd5wHzRnf9s2nPC5Qr/0HhpFLSAx7otZmfD/ XK6zmZZI/3vcBrVLoa1wMg== 0000922996-07-000043.txt : 20070305 0000922996-07-000043.hdr.sgml : 20070305 20070305162841 ACCESSION NUMBER: 0000922996-07-000043 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20070305 DATE AS OF CHANGE: 20070305 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AMBASSADORS GROUP INC CENTRAL INDEX KEY: 0001162315 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 911957010 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-78137 FILM NUMBER: 07671545 BUSINESS ADDRESS: STREET 1: 110 SOUTH FERRALL STREET CITY: SPOKANE STATE: WA ZIP: 99202 BUSINESS PHONE: 5095346200 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Punch Card Capital LP CENTRAL INDEX KEY: 0001364365 IRS NUMBER: 760758140 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: P.O. BOX 334 CITY: GOTHA STATE: FL ZIP: 34734 BUSINESS PHONE: 212-319-5413 MAIL ADDRESS: STREET 1: P.O. BOX 334 CITY: GOTHA STATE: FL ZIP: 34734 SC 13G 1 sch13g_punch-022107.htm SCHEDULE 13G RE: AMBASSADORS

 

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

____________

 

Schedule 13G

 

Under the Securities Exchange Act of 1934

(Amendment No. ) 1

 

 

AMBASSADORS GROUP, INC.  

(Name of Issuer)

 

Common Stock, par value $0.001 per share

(Title of Class of Securities)

 

023177108

(CUSIP Number)

 

February 21, 2007

(Date of Event Which Requires Filing of this Statement)

 

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

 

[

]

Rule 13d-1(b)

[

]

Rule 13d-1(c)

 

[ X ]

Rule 13d-1(d)

 

 

_____________________

 

1The 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 disclosures provided in a prior cover page.

 

The information required on 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. 023177108

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

1. Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

Punch Card Capital, L.P.

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

2. Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a) ___

 

(b) ___

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

 

3. SEC Use Only

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

4. Citizenship or Place of Organization

 

Delaware

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

Number of

5. Sole Voting Power:

 

Shares

 

 

Beneficially

6. Shared Voting Power:

1,086,783

Owned by

 

 

Each Reporting

7. Sole Dispositive Power:

 

Person with:

 

 

 

8. Shared Dispositive Power:

1,086,783

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

9. Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,086,783

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

___

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

11. Percent of Class Represented by Amount in Row (9)

 

5.2%

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

12. Type of Reporting Person (See Instructions)

 

PN

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- Page 2 of 8 Pages -

 

 


 

 

CUSIP No. 023177108

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

1. Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

Punch Card Capital, LLC

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

2. Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a) ___

 

(b) ___

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

3. SEC Use Only

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

4. Citizenship or Place of Organization

 

Delaware

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

Number of

5. Sole Voting Power:

 

Shares

 

 

Beneficially

6. Shared Voting Power:

1,086,783

Owned by

 

 

Each Reporting

7. Sole Dispositive Power:

 

Person with:

 

 

 

8. Shared Dispositive Power:

1,086,783

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

9. Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,086,783

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

___

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

11. Percent of Class Represented by Amount in Row (9)

 

5.2%

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

12. Type of Reporting Person (See Instructions)

 

OO

 

---------------------------------------------------------------------------------------------------------------------------------------------------

 

 

 

- Page 3 of 8 Pages -

 

 


 

 

CUSIP No. 023177108

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

1. Names of Reporting Persons.

I.R.S. Identification Nos. of above persons (entities only).

 

Norbert H. Lou

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

2. Check the Appropriate Box if a Member of a Group (See Instructions)

 

(a) ___

 

(b) ___

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

3. SEC Use Only

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

4. Citizenship or Place of Organization

 

United States

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

Number of

5. Sole Voting Power:

72,110

Shares

 

 

Beneficially

6. Shared Voting Power:

1,086,783

Owned by

 

 

Each Reporting

7. Sole Dispositive Power:

72,110

Person with:

 

 

 

8. Shared Dispositive Power:

1,145,771

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

9. Aggregate Amount Beneficially Owned by Each Reporting Person

 

1,217,881

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

 

___

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

11. Percent of Class Represented by Amount in Row (9)

 

5.9%

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

12. Type of Reporting Person (See Instructions)

 

IN

 

-----------------------------------------------------------------------------------------------------------------------------------------------------------

 

 

 

- Page 4 of 8 Pages -

 

 


 

 

Item 1(a). Name of Issuer:

 

Ambassadors Group, Inc.

 

Item 1(b). Address of Issuer's Principal Executive Offices:

 

110 South Ferrall Street

Spokane, WA 99202

 

Item 2(a). Name(s) of Person(s) Filing:

 

 

1.

Punch Card Capital, LP, a Delaware limited partnership (“LP”);

2.

Punch Card Capital, LLC, a Delaware limited liability company (“LLC”); and

3.

Norbert H. Lou

 

LP, LLC and Mr. Lou are collectively referred to as the "Reporting Persons."

 

Item 2(b). Address of Principal Business Office or, if None, Residence:

 

P.O. Box 334, Gotha, FL 34734-0334

 

Item 2(c). Citizenship:

 

The LP and the LLC are Delaware entities. Mr. Lou is a citizen of the United States.

 

Item 2(d). Title of Class of Securities:

 

Common Stock

 

Item 2(e). CUSIP Number:

 

023177108

 

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

(a)

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);

(b)

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);

(c)

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);

(d)

Investment company registered under section 8 of the Investment Company Act, (15 U.S.C. 80a-8);

(e)

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f)

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g)

A parent holding company or control person in accordance with §240.13d (b)(1)(ii)(G);

(h)

A savings association as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

 

 

 

- Page 5 of 8 Pages -

 

 


 

 

 

(i)

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j)

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Not applicable

 

Item 4. Ownership:

 

 

Each of the Reporting Persons may be deemed to beneficially own the following:

 

(a)

Amount beneficially owned: 1,217,881

 

 

Of such shares, 1,086,783 are directly held by the LP. The LLC is the general partner of the LP, and, as a result, the LLC may be deemed to possess voting and/or investment power over the securities of the Issuer that are owned by the LP. Mr. Lou serves as the Managing Member of the LLC and, as a result, may be deemed to possess voting and/or investment power over the securities of the Issuer that are owned by the LP.

 

In addition, 72,110 of such shares are directly held by Mr. Lou and 58,988 of such shares are directly held by relatives of Mr. Lou. Mr. Lou may be deemed to have dispositive authority over shares held by his relatives.

 

(b)

Percent of Class:

5.9% (based on 20,786,892 common shares outstanding according to the Issuer’s quarterly report on Form 10-Q for the period ended September 30, 2006).

 

(c)

Number of shares as to which such person has:

 

 

(i) Sole power to vote or to direct the vote:

72,110*

 

 

(ii) Shared power to vote or to direct the vote:

1,086,783**

 

 

(iii) Sole power to dispose or to direct the disposition of:

72,100*

 

 

(iv) Shared power to dispose or to direct the disposition of:

1,145,771**

 

 

*shares directly beneficially held by Mr. Lou.

 

**Includes 1,086,783 shares directly beneficially owned by the LP, and 58,988 shares directly beneficially owned by relatives of Mr. Lou. Mr. Lou is the managing member of the LLC, the general partner of the LP, and thus may be deemed to have beneficial ownership over shares held by the LP. Mr. Lou may be deemed to share dispositive authority over shares held by his relatives.

 

 

 

 

- Page 6 of 8 Pages -

 

 


 

 

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

 

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 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.

 

 

 

 

- Page 7 of 8 Pages -

 

 


 

 

                                                                                       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.

 

 

March 2, 2007

(Date)

 

 

 

 

/s/ Norbert H. Lou

(Signature)

Norbert H. Lou, individually and as managing

member of Punch Card Capital, LLC, the general partner of Punch Card Capital, L.P.

 

 

 

 

 

- Page 8 of 8 Pages -

 

 

 

 

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