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SC 13D/A
Amendment Number 10 to Schedule 13D
Page 1 of 11 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
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, 49th Floor, New York, NY 10153
-----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 5, 2003
-----------------------------------------------------
(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 10 to Schedule 13D (continued)
CUSIP No. 91879Q109 Page 2 of 11 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 0
BENEFICIALLY ------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 10,915,550
REPORTING ------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,947,550
- -----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,947,550
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.5%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC, CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 91879Q109 Page 3 of 11 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 0
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 10,084,000
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,116,000
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,116,000
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
36.5%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 91879Q109 Page 4 of 11 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 0
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 831,550
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
831,550
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
831,550
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 91879Q109 Page 5 of 11 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 0
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 8,670,000
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
8,670,000
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,670,000
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
31.2%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IV, OO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 91879Q109 Page 6 of 11 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 0
BENEFICIALLY -------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 10,915,550
REPORTING -------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,947,550
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,947,550
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
39.5%
- -----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
Page 7 of 11 Pages
Item 1. Security and Issuer
(a) Name of Issuer:
Vail Resorts, Inc.
(b) Address of Issuer's Principal Executive Offices:
P.O. Box 7
Vail, CO 81658
(c) Title and Class of Securities:
Common
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
New York, NY 10153
(c) Present Principal Business or Employment:
BCG: Holding company
BAMCO: Investment adviser
BCM: Investment adviser
BAF: Registered investment company
Ronald Baron: CEO: BCG, BAMCO, BCM; BAF
767 Fifth Avenue
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
Since the last filing, BAMCO directed the purchase of 10,500 shares of
the Issuer for its investment advisory clients for an aggregate purchase
price of $129,051. BCM directed the purchase of 63,958 shares of the Issuer
for its investment advisory clients for an aggregate purchase price of
$773,202. All of the shares were paid for by cash assets in the respective
clients accounts and/or by margin borrowings pursuant to standard margin
agreements.
Page 8 of 11 Pages
Item 4. Purpose of Transaction
No material change.
Item 5. Interest in Securities of the Issuer
(a) Amount and percentage beneficially owned*:
BCG: 10,947,550 39.5%
BAMCO: 10,116,000 36.5%
BCM: 831,550 3.0%
BAF: 8,670,000 31.2%
Ronald Baron: 10,947,550 39.5%
(b) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
BCG: 0
BAMCO: 0
BCM: 0
BAF: 0
Ronald Baron: 0
(ii) shared power to vote or direct the vote:
BCG: 10,915,550
BAMCO: 10,084,000
BCM: 831,550
BAF: 8,670,000
Ronald Baron: 10,915,550
(iii) sole power to dispose or to direct the disposition:
BCG: 0
BAMCO: 0
BCM: 0
BAF: 0
Ronald Baron: 0
(iv) shared power to dispose or direct the disposition:
BCG: 10,947,550
BAMCO: 10,116,000
BCM: 831,550
BAF: 8,670,000
Ronald Baron: 10,947,550
*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 the BAF
shares) and pursuant to investment advisory relationships
with advisory clients. Reporting Persons disclaim
beneficial ownership of the shares for which they share
power.
(c) A schedule of transactions effected in the last sixty
days is attached hereto.
Page 9 of 11 Pages
(d) Ownership of More than Five Percent on Behalf of Another
Person:
No material change.
(e) Ownership of Less than Five Percent:
Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
No material change.
Item 7. Material to be Filed as Exhibits
Exhibit 99 - 60 days of trading.
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: June 13, 2003
Baron Capital Group, Inc.,
BAMCO, Inc., Baron Capital Management, Inc.
and Baron Asset Fund
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, Chairman and CEO
Transaction Schedule
From 04-14-03 To 06-12-03
Exec.
Date Account Trans Quantity Price
- -------- ------- ----- -------- -------
04/14/03 bcm by 7,800 11.9133
04/15/03 bcm by 2,200 11.6000
04/16/03 bcm by 13,600 11.7547
04/16/03 bamco by 1,400 11.7547
04/17/03 bcm by 7,900 12.2190
04/17/03 bamco by 800 12.2190
04/22/03 bcm by 2,000 12.1195
04/22/03 bamco sl 10,000 12.1541
04/22/03 bcm by 4,600 12.1552
04/22/03 bamco by 400 12.1552
04/23/03 bcm by 700 12.1300
04/23/03 bamco sl 5,500 12.1618
04/23/03 bcm by 1,900 12.1623
04/23/03 bamco by 1,600 12.1623
04/23/03 bcm by 2,000 12.1650
04/23/03 bcm by 300 12.2000
04/24/03 bamco sl 9,500 12.1937
04/24/03 bcm by 6,900 12.1941
04/24/03 bamco by 1,600 12.1941
04/24/03 bcm by 8,058 12.2254
04/24/03 bamco by 1,800 12.2254
04/29/03 bamco sl 15,000 11.8700
04/29/03 bamco sl 2,000 12.0400
04/30/03 bamco sl 2,400 11.9000
04/30/03 bcm sl 9,000 11.9383
05/01/03 bamco sl 1,600 11.9987
05/02/03 bamco sl 6,000 12.2572
05/05/03 bamco sl 2,500 11.7756
05/05/03 bamco sl 2,800 11.8250
05/05/03 bamco sl 9,100 11.8850
05/06/03 bamco sl 1,600 12.0025
05/06/03 bamco sl 7,000 12.0056
05/06/03 bcm by 2,000 12.0500
05/07/03 bcm by 1,000 12.0000
05/07/03 bamco sl 8,500 12.1924
05/07/03 bamco sl 5,200 12.2250
05/08/03 bamco sl 6,300 12.1350
05/09/03 bamco sl 1,000 12.1700
05/09/03 bamco sl 4,000 12.1900
05/12/03 bamco sl 1,500 12.2500
05/13/03 bamco sl 2,500 12.1700
05/14/03 bamco sl 100 11.9400
05/14/03 bamco sl 1,400 11.9850
05/14/03 bamco sl 4,700 11.9966
05/14/03 bamco sl 4,800 12.0000
05/15/03 bamco sl 10,000 12.2500
05/15/03 bamco sl 2,500 12.3516
05/28/03 bcm by 1,000 11.9000
05/28/03 bamco sl 8,800 11.9075
05/29/03 bcm by 700 11.9000
06/02/03 bcm sl 6,000 11.6072
06/03/03 bcm sl 600 11.5017
06/04/03 bamco sl 8,700 11.4833
06/04/03 bcm sl 5,400 11.5620
06/05/03 bamco sl 20,000 12.3100
06/06/03 bamco sl 10,000 12.5000
06/06/03 bcm sl 18,300 12.5073
06/09/03 bamco by 100 12.4000
06/09/03 bcm sl 1,700 12.4971
06/09/03 bamco sl 2,500 12.5000
06/10/03 bamco by 2,800 12.5500
06/10/03 bcm sl 12,000 12.5700
06/10/03 bamco sl 7,500 12.6245
06/11/03 bamco sl 10,000 12.7210
06/11/03 bcm sl 3,000 12.8127
06/12/03 bamco sl 10,000 12.5584
06/12/03 bcm sl 8,000 13.0275