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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. )*
Ambassadors Group, Inc.
(Name of Issuer)
COMMON STOCK, (PAR VALUE $0.01 Per Share)
(Title of Class of Securities)
023177108
(CUSIP Number)
November 19, 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:
[X] RULE 13D-1(B)
[ ] 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 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 (THE "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).
Page 1 of 9 Pages
CUSIP NO. 023177108
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tumucuan Fund, Ltd.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 386,250
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
386,250
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
386,250
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 2.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
Page 2 of 9 Pages
|
CUSIP NO. 023177108
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Timucuan Opportunity Fund, L.P.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 30,350
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
30,350
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,350
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENTAGE OF CLASS REPRESENTED BY AMOUNT IN ROW 9 0.2%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
PN
- --------------------------------------------------------------------------
Page 3 of 9 Pages
|
CUSIP NO. 023177108
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Timucuan Asset Management, Inc.
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 975,320
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
975,320
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
975,320
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
- --------------------------------------------------------------------------
Page 4 of 9 Pages
|
CUSIP NO. 023177108
---------
- --------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Russell B. Newton, III
- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF NONE
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH
REPORTING 386,250
PERSON -------------------------------------------------
WITH 7 SOLE DISPOSITIVE POWER
NONE
-------------------------------------------------
8 SHARED DISPOSITIVE POWER
386,250
- --------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
386,250
- --------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ] (SEE INSTRUCTIONS)
- --------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 2.0%
- --------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
- --------------------------------------------------------------------------
Page 5 of 9 Pages
|
ITEM 1(A) NAME OF ISSUER:
Ambassadors Group, Inc.
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2001 South Flint Road
Spokane, WA 99224
ITEM 2(a) NAME OF PERSON FILING:
(i) Timucuan Fund Ltd., with respect to shares of Common
Stock directly owned by it.
(ii) Timucuan Opportunity Fund L.P., with respect to shares of
Common Stock directly owned by it.
(iii) Timucuan Asset Management, Inc. with respect to shares of
Common Stock beneficially owned by it.
(iv) Russell B. Newton, III, (Mr. Newton), as General Partner
of Timucuan Fund, Ltd., with respect to shares of Common
Stock directly owned by Timucuan Fund, Ltd.
The foregoing persons are hereinafter sometimes
collectively referred to as the Reporting Persons. Any
disclosures herein with respect to persons other than the
Reporting Persons are made on information and believe after
making inquiry to the appropriate party.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR IF NONE, RESIDENCE:
The address of the business office of each of the Reporting
Persons is 200 W. Forsyth Street, #1600, Suite 140,
Jacksonville, FL 32202
ITEM 2(c) CITIZENSHIP:
Timucuan Fund Ltd. is a limited partnership organized under the
laws of the State of Florida. Timucuan Opportunity Fund L.P.
is limited partnership organized under the laws of the State of
Delaware. Timucuan Asset Management, Inc. is Florida
corporation. Mr. Newton is a United States citizen.
ITEM 2(d) TITLE OF CLASS OF SECURITIES:
Common Stock, Par Value $0.01 Per Share
ITEM 2(e) CUSIP NUMBER:
023177108
Page 6 of 9 Pages
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.240.13D-1(B) OR SS.
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 of 1940 (15 U.S.C. 80a-8).
(e) [X] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with
ss.240.13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with
ss.240.13d-1(b)(1)(ii)(G);
(h) [ ] A savings associations as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(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 ss.240.13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP:
This Statement is being filed with respect to an aggregate of 1,361,570
shares of Common Stock resulting in beneficial ownership of Common
Stock as follows:
1. Tumucuan Fund, Ltd.
(a) Amount Beneficially owned: 386,250
(b) Percent of Class: 2.0%
The percentages used herein and in the rest of Item 4 are
calculated based on 19,486,043 shares of Common Stock
outstanding as of October 30, 2007, as reported in the
Companys 10-Q filing for the period ended September 30,
2008 filed with the Securities and Exchange Commission on
November 8, 2007.
Page 7 of 9 Pages
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 386,250
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 386,250
2. Timucuan Opportunity Fund, L.P.
(a) Amount Beneficially owned: 30,350
(b) Percent of Class: 0.2%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 30,350
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 30,350
3. Timucuan Asset Management, Inc.
(a) Amount Beneficially owned: 975,320
(b) Percent of Class: 5.0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 975,320
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
975,320
4. Russell B. Newton, III
(a) Amount Beneficially owned: 386,250
(b) Percent of Class: 2.0%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 386,250
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
386,250
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Timucuan Asset Management, Inc., the discretionary investment
manager for the Timucuan Opportunity Fund, L.P. and certain
separate client accounts, has the power to direct the voting
and disposition of the shares held by Timucuan Opportunity
Fund, L.P. and such separate client accounts. Mr. Newton is
the General Partner of the Timucuan Fund, Ltd., and as such,
Mr. Newton has the power to direct the voting and disposition
of shares held by Timucuan Fund, Ltd.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY OR CONTROL PERSON.
N/A
Page 8 of 9 Pages
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
See Item 2.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
N/A
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my
knowledge and belief, the securities referred to above were acquired and
are held in the ordinary course of business and 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.
SIGNATURE
After reasonable inquiry and to the best of my knowledge
and belief, I hereby certify that the information set forth in this statement
is true, complete and correct.
February 8, 2008
/s/ Russell B. Newton, III
----------------------------------
Russell B. Newton, III, as
President of Timucuan Asset
Management, Inc. and as General
Partner of Timucuan Fund, Ltd.
|
Page 9 of 9 Pages
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