SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(AMENDMENT NO. 1)
GREAT WOLF RESORTS, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
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(Title of Class of Securities)
391523107
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(CUSIP Number)
DECEMBER 31, 2005
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(Date of Event Which Requires Filing of this Statement)
Check the following box to designate the rule pursuant to which this Schedule is
filed:
|_| Rule 13d-1(b)
|X| Rule 13d-1(c)
|_| Rule 13d-1(d)
* The remainder of this cover page shall be filled out for reporting
person's initial filings on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosure 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.
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 2 OF 9 PAGES
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NAME OF REPORTING PERSON
Jason Ader
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
1
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 United States
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SOLE VOTING POWER
NUMBER OF 5 0
SHARES -----------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY
EACH 6 2,498,650
REPORTING -----------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH
7 0
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SHARED DISPOSITIVE POWER
8 2,498,650
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 2,498,650
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_|
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 8.26%
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TYPE OF REPORTING PERSON*
12 IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 3 OF 9 PAGES
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NAME OF REPORTING PERSON
Hayground Cove Asset Management LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) N/A
1
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Delaware
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SOLE VOTING POWER
5 0
NUMBER OF ------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6 2,498,650
EACH -----------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON
WITH 7 0
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SHARED DISPOSITIVE POWER
8 2,498,650
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 2,498,650
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_|
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 8.26%
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TYPE OF REPORTING PERSON*
12 HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 4 OF 9 PAGES
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NAME OF REPORTING PERSON
Hayground Cove Fund Management LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EIN:
81-0587515
1
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Delaware
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SOLE VOTING POWER
5 0
NUMBER OF -----------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY
OWNED BY 6 2,498,650
EACH -----------------------------------------------
REPORTING SOLE DISPOSITIVE POWER
PERSON
WITH 7 0
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SHARED DISPOSITIVE POWER
8 2,498,650
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 2,498,650
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_|
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 8.26%
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TYPE OF REPORTING PERSON*
12 HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 5 OF 9 PAGES
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NAME OF REPORTING PERSON
Hayground Cove Associates L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) EIN:
81-0587520
1
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) |_|
2 (B) |_|
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4 Delaware
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SOLE VOTING POWER
NUMBER OF 5 0
SHARES --------------------------------------------
BENEFICIALLY SHARED VOTING POWER
OWNED BY
EACH 6 2,265,700
REPORTING --------------------------------------------
PERSON SOLE DISPOSITIVE POWER
WITH
7 0
--------------------------------------------
SHARED DISPOSITIVE POWER
8 2,265,700
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9 2,265,700
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_|
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11 7.49%
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TYPE OF REPORTING PERSON*
12 HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 9 PAGES
ITEM 1(A). NAME OF ISSUER:
This statement on Schedule 13G (this "Statement") relates to securities
issued by Great Wolf Resorts, Inc. (the "Issuer").
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The principal executive office of the Issuer is 122 West Washington
Avenue, Madison, Wisconson 53702.
ITEM 2(A). NAME OF PERSON FILING:
This Statement is being filed by (i) Jason Ader, an individual; (ii)
Hayground Cove Asset Management LLC, a Delaware limited liability
company ("HCAM"); (iii) Hayground Cove Fund Management LLC, a Delaware
limited liability company ("HCFM"); and (iv) Hayground Cove Associates
LP, a Delaware limited partnership ("HCA" and, together with Mr. Ader,
HCAM and HCFM, the "Reporting Persons").
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business address and principal office address of each of
the Reporting Persons is 1370 6th Avenue, New York, New York 10019.
ITEM 2(C). CITIZENSHIP:
Mr. Ader is a United States citizen.
ITEM 2(D). TITLE OF CLASS OF SECURITIES:
This Statement relates to common stock, $0.01 par value per share of
the Issuer (the "Common Stock").
ITEM 2(E). CUSIP NUMBER:
The CUSIP number relating to the Common Stock is 391523107.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
PAGE 7 OF 9 PAGES
ITEM 4. OWNERSHIP:
(A) AMOUNT BENEFICIALLY OWNED:
As of December 31, 2005, each of Mr. Ader, HCAM and HCFM beneficially
owned 2,498,650 shares of Common Stock and HCA beneficially owned
2,265,700 shares of Common Stock.
The Reporting Persons indirectly hold their shares of Common Stock. Mr.
Ader is the sole member of HCAM, which in turn is the managing member
of HCFM. In addition, HCFM serves as general partner of (i) certain
Delaware limited partnership funds and (ii) HCA, an investment manager
that provides investment and advisory services to certain offshore
entities and individually managed accounts (the limited partnership
funds, offshore entities and managed accounts collectively, the "Client
Funds"). None of the Client Funds is deemed to be a reporting person.
(B) PERCENT OF CLASS:
As of December 31, 2005, each of Mr. Ader, HCAM and HCFM beneficially
owned 8.26% of the issued and outstanding shares of Common Stock and
HCA beneficially owned 7.49% of the issued and outstanding shares of
Common Stock.
(C) NUMBER OF SHARES AS TO WHICH THE REPORTING PERSON HAS:
As of December 31, 2005, each of Mr. Ader, HCAM and HCFM had the power
to vote and to dispose of shares of Common Stock as follows:
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 2,498,650
(iii) Sole power to dispose or to direct the disposition of: -0-
(iv) Shared power to dispose or to direct the disposition of:
2,498,650
As of December 31, 2005, HCA had the power to vote and to dispose of
shares of Common Stock as follows:
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 2,265,700
(iii) Sole power to dispose or to direct the disposition of: -0-
(iv) Shared power to dispose or to direct the disposition of:
2,265,700
PAGE 8 OF 9 PAGES
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
Not applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON:
Except as stated elsewhere in Item 4 of this Statement, no other person
has the right to receive or the power to direct the receipt of
dividends from, or the proceeds from the sale of, the shares of Common
Stock indirectly owned by the Reporting Persons.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL
PERSON:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
See the Joint Filing Agreement among the Reporting Persons attached
hereto as Exhibit A.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
ITEM 10. CERTIFICATIONS:
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 9 OF 9 PAGES
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: February 15, 2006
By: /S/ JASON ADER
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Jason Ader
HAYGROUND COVE ASSET MANAGEMENT LLC
By: /S/ JASON ADER
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Jason Ader
Sole Member
HAYGROUND COVE FUND MANAGEMENT LLC
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /S/ JASON ADER
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Jason Ader
Sole Member
HAYGROUND COVE ASSOCIATES L.P.
By: Hayground Cove Fund Management LLC,
its General Partner
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /S/ JASON ADER
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Jason Ader
Sole Member
EXHIBIT A
FILING AGREEMENT
BETWEEN JASON ADER,
HAYGROUND COVE ASSET MANAGEMENT LLC,
HAYGROUND COVE FUND MANAGEMENT LLC AND
HAYGROUND COVE ASSOCIATES L.P.
The undersigned hereby agree that the Schedule 13G with respect to the
Common Stock, $0.01 par value, of Great Wolf Resorts, Inc., dated as of even
date herewith is and shall be filed on behalf of each of us pursuant to and in
accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange
Act of 1934, as amended.
Dated: February 15, 2006
By: /S/ JASON ADER
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Jason Ader
HAYGROUND COVE ASSET MANAGEMENT LLC
By: /S/ JASON ADER
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Jason Ader
Sole Member
HAYGROUND COVE FUND MANAGEMENT LLC
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /S/ JASON ADER
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Jason Ader
Sole Member
HAYGROUND COVE ASSOCIATES L.P.
By: Hayground Cove Fund Management LLC,
its General Partner
By: Hayground Cove Asset Management LLC,
its Managing Member
By:/S/ JASON ADER
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Jason Ader
Sole Member