-----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, GvKssdHPNlxlmOBwRpPum2FfTP9R1pmOaDuQGzkKP7T8T84fDfCmSE30DnmA/oZh ithbV9sCHa32DArG/dQ3SA== 0001017918-98-000093.txt : 19981008 0001017918-98-000093.hdr.sgml : 19981008 ACCESSION NUMBER: 0001017918-98-000093 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19981007 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VAIL RESORTS INC CENTRAL INDEX KEY: 0000812011 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] IRS NUMBER: 510291762 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-49757 FILM NUMBER: 98722285 BUSINESS ADDRESS: STREET 1: 137 BENCHMARK ROAD STREET 2: C/O ANACONDA TOWER CITY: AVON STATE: CO ZIP: 81620 BUSINESS PHONE: 9708452950 MAIL ADDRESS: STREET 1: 137 BENCHMARK ROAD CITY: AVON STATE: CO ZIP: 81620 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BAMCO INC /NY/ CENTRAL INDEX KEY: 0001017918 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133390015 STATE OF INCORPORATION: NY FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 BUSINESS PHONE: 2125832000 MAIL ADDRESS: STREET 1: 767 PARK AVE STREET 2: 24TH FL CITY: NEW YORK STATE: NY ZIP: 10153 SC 13D/A 1 SCHEDULE 13D, AMENDMENT NO. 5 Page 1 of of 12 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 5)* VAIL RESORTS, INC. ----------------------------------------------------- (Name of Issuer) COMMON STOCK ----------------------------------------------------- (Title of Class of Securities) 91879Q109 ----------------------------------------------------- (CUSIP Number) Linda S. Martinson, Esq. (212) 583-2000 767 Fifth Avenue, 24th Floor, New York, NY 10153 ----------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 2, 1998 ----------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. 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 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). SEC 1746 (12-91) Amendment Number 5 to Schedule 13D (continued) CUSIP No. 91879Q109 Page 2 of 12 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Group, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 160,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,287,850 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 160,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 11,343,850 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,503,850 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 42.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 5 to Schedule 13D (continued) CUSIP No. 91879Q109 Page 3 of 12 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON BAMCO, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 235,250 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 10,291,250 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,291,250 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 38.4% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 5 to Schedule 13D (continued) CUSIP No. 91879Q109 Page 4 of 12 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Capital Management, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 160,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,052,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 160,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,052,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,212,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 5 to Schedule 13D (continued) CUSIP No. 91879Q109 Page 5 of 12 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Baron Asset Fund - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 10,056,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 10,056,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,056,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 37.5% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IV, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 5 to Schedule 13D(continued) CUSIP No. 91879Q109 Page 6 of 12 Pages - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Ronald Baron - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(C) OR 2(E) [ ] - ------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 160,000 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,287,850 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 160,000 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 11,343,850 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11,503,850 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 42.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Page 7 of 12 Pages Item 1. Security and Issuer (a) Name of Issuer: Vail Resorts, Inc. (b) Address of Issuer's Principal Executive Offices: 137 Benchmark Road c/o Anaconda Towers Avon, CO 81620 (c) Title and Class of Securities: Common Stock Item 2. Identity and Background (a) Name: Baron Capital Group, Inc. ("BCG") BAMCO, Inc. ("BAMCO") Baron Capital Management, Inc. ("BCM") Baron Asset Fund ("BAF") Ronald Baron (b) Business Address: 767 Fifth Avenue 24th Floor New York, NY 10153 (c) Present Principal Employment: BCG: Holding company BAMCO: Investment adviser BAF: Investment company Ronald Baron: President and majority shareholder: BCG, BCM, BAMCO 767 Fifth Avenue 24th Floor New York, NY 10153 (d) Record of Convictions: No material change. (e) Record of Civil Proceedings: No material change. (f) Citizenship: No material change. Item 3. Source and Amount of Funds or Other Consideration Ronald Baron owns no shares of the issuer directly. BAMCO directed the purchase of 6,291,250 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $138,997,619. Of those shares, 6,056,000 were purchased for the account of BAF, for a total purchase price of $133,889,835. An additional 4,000,000 shares of the Issuer were purchased in a privately negotiated transaction for the account of BAF. BCM directed the purchase of 1,052,600 shares of the issuer for its investment advisory clients for an aggregate purchase price of $23,819,721 and 160,000 shares for two investment partnerships for an aggregate purchase price of $3,529,265. All of the shares were paid for by cash assets in the respective clients' accounts and by margin borrowings for the account of one BCM client. Item 4. Purpose of Transaction No material change. Page 8 of 12 Pages Item 5. Interest in Securities of the Issuer (a) Amount and percentage beneficially owned: BCG: 11,503,850 42.9% BAMCO: 10,291,250 38.4% BCM: 1,212,600 4.5% BAF: 10,056,000 37.5% Ronald Baron: 11,503,850 42.9% (b) Number of shares as to which such person has: (i) sole power to vote or direct the vote: BCG: 160,000 BAMCO: 0 BCM: 160,000 BAF: 10,056,000 Ronald Baron: 160,000 (ii) shared power to vote or direct the vote: BCG: 1,287,850 BAMCO: 235,250 BCM: 1,052,600 BAF: 0 Ronald Baron: 1,287,850 (iii) sole power to dispose or to direct the disposition: BCG: 160,000 BAMCO: 0 BCM: 160,000 BAF: 0 Ronald Baron: 160,000 (iv) shared power to dispose or direct the disposition: BCG: 11,343,850 BAMCO: 10,291,250 BCM: 1,052,600 BAF: 10,056,000 Ronald Baron: 11,343,850 *Reporting Persons may be deemed to share power to vote and dispose of shares referred to herein as a result of control relationships (BCG and Ronald Baron with respect to all of the shares; BAMCO with respect to disposition, but not vote, of the BAF shares) and pursuant to investment advisory relationships with advisory clients. The shares reported above for sole power are attributable to investment partnerships for which BCM and Ronald Baron serve as general partners. BAMCO and its related control persons have no power to vote the shares owned by BAF. (c) A schedule of transactions effected in the last thirty-nine days is attached hereto. (d) Ownership of More than Five Percent on Behalf of Another Person: No material change. (e) Ownership of Less than Five Percent: Not applicable. Page 9 of 12 Pages Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Baron Capital Group, Inc. and affiliates and the Issuer have amended their Standstill Agreement to allow for purchase of an additional 500,000 shares of the Issuer's Common Stock. Item 7. Material to be Filed as Exhibits Exhibit 99 - 39 days of transactions. 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: October 7, 1998 Baron Capital Group, Inc., BAMCO, Inc., Baron Capital Management, Inc. and Baron Asset Fund By: /s/ Ronald Baron _______________________________________ Ronald Baron, President Ronald Baron, Individually By: /s/ Ronald Baron _______________________________________ Ronald Baron EX-99 2 39-DAY TRANSACTION SCHEDULE Page 11 of 12 Pages Transaction Schedule From 08-29-98 to 10-06-98 All transactions were executed on the primary exchange for the Issuer unless otherwise indicated. Exec. Date Acct ID Trans Qty Price - -------- ------- ----- --------- --------- 09-01-98 bamco by 15,000 21.8958 09-08-98 bcm by 5,000 23.9325 09-09-98 bcm by 16,200 23.4414 09-10-98 bcm by 43,800 21.6926 09-11-98 bcm by 20,000 21.3750 09-11-98 bcm by 11,200 21.3750 09-11-98 bcm by 10,000 21.3750 09-14-98 bamco by 10,000 21.3750 09-15-98 bcm by 8,400 20.5000 09-25-98 bcm by 700 20.6875 10-01-98 bamco by 25,000 19.8125 10-01-98 bamco by 250 19.8125 10-02-98 bamco by 80,000 19.6250 10-02-98 bamco by 25,000 19.8125 10-02-98 bamco by 182,600 19.8222 10-05-98 bamco by 43,500 19.5262 10-05-98 bcm by 10,000 19.5262 10-06-98 bamco by 6,700 19.7500 10-06-98 bamco by 14,300 19.5935 10-06-98 bcm by 14,300 19.7500 -----END PRIVACY-ENHANCED MESSAGE-----