-----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, J1AFu3SXmBb3tgdxbiot2Ki1Uo7MfkhJXyXUUg6ktEmlXilwKpO6GsXjBQkg7eOg yetViXjP2WaAqPFnlfQO8Q== 0001017918-00-000066.txt : 20000420 0001017918-00-000066.hdr.sgml : 20000420 ACCESSION NUMBER: 0001017918-00-000066 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20000419 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SOTHEBYS HOLDINGS INC CENTRAL INDEX KEY: 0000823094 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 382478409 STATE OF INCORPORATION: MI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-39574 FILM NUMBER: 604530 BUSINESS ADDRESS: STREET 1: 500 NORTH WOODWARD AVENUE STREET 2: SUITE 100 CITY: BLOOMFIELD HILLS STATE: MI ZIP: 48304 BUSINESS PHONE: 2126067000 MAIL ADDRESS: STREET 1: 500 NORTH WOODWARD AVENUE STREET 2: SUITE 100 CITY: BLOOMFIELD HILLS STATE: MI ZIP: 48304 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 AMENDMENT NUMBER 12 TO SCHEDULE 13D Page 1 of 12 Pages UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 12)* SOTHEBY'S HOLDINGS, INC. ----------------------------------------------------- (Name of Issuer) CLASS A LIMITED VOTING COMMON STOCK ----------------------------------------------------- (Title of Class of Securities) 835898107 ----------------------------------------------------- (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) April 17, 2000 ----------------------------------------------------- (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 12 to Schedule 13D (continued) CUSIP No. 835898107 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) [X] - -------------------------------------------------------------------------------- 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 842,500 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 22,488,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 842,500 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 22,488,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 23,331,100 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 55.2% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* HC, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 12 to Schedule 13D (continued) CUSIP No. 835898107 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) [X] - -------------------------------------------------------------------------------- 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 20,655,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 20,655,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,655,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 48.9% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 12 to Schedule 13D (continued) CUSIP No. 835898107 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) [X] - -------------------------------------------------------------------------------- 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 842,500 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 1,833,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 842,500 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,833,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,676,100 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.3% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA, CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 12 to Schedule 13D (continued) CUSIP No. 835898107 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) [X] - -------------------------------------------------------------------------------- 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 20,100,000 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 20,100,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 20,100,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 47.6% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IV, OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT Amendment Number 12 to Schedule 13D (continued) CUSIP No. 835898107 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) [X] - -------------------------------------------------------------------------------- 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 842,500 BENEFICIALLY -------------------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 22,488,600 REPORTING -------------------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 842,500 -------------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 22,488,600 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 22,488,600 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 55.2% - -------------------------------------------------------------------------------- 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: SOTHEBY'S HOLDINGS, INC. (b) Address of Issuer's Principal Executive Offices: 500 North Woodward Avenue, Suite 100 Bloomfield Hills, MI 48304 (c) Title and Class of Securities: Class A Limited Voting 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 New York, NY 10153 (c) Present Principal Employment: BCG: Holding company BAMCO: Investment adviser BCM: Investment adviser BAF: Registered investment company Ronald Baron: Chairman and CEO: BCG, BAMCO, BCM, and 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 Ronald Baron owns no shares of the Issuer directly. BAMCO directed the purchase of 20,655,000 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $438,385,849. Of those shares, 20,100,000 were purchased for the account of BAF for a total purchase price of $425,661,471. BCM directed the purchase of 1,833,600 shares of the Issuer for its investment advisory clients for an aggregate purchase price of $42,581,267 and 842,500 shares of the Issuer for two investment partnerships for an aggregate purchase price of $23,004,667. 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 12 Pages Item 4. Purpose of Transaction Certain Reporting Persons and certain affiliates thereof have hired Wasserstein Perella & Co. to advise them with respect to their investments in the Issuer. The Reporting Persons would, if their votes were aggregated, constitute the Issuer's largest shareholder. Reporting Persons originally invested in the Issuer for the long term as passive investors. As a result of the ongoing Department of Justice investigation into allegations of price fixing involving the Issuer, Ronald Baron has recently had, and expects to continue to have, conversations with directors, management, and others regarding the Issuer, the composition and independence of the Issuer's board, other governance matters and other issues that may affect the future value of the Reporting Persons' investments in the Issuer. Mr. Baron strongly supports the Issuer's current executive officers. Item 5. Interest in Securities of the Issuer* (a) Amount and percentage beneficially owned: BCG: 23,331,100 55.2% BAMCO: 20,655,000 48.9% BCM: 2,676,100 6.3% BAF: 20,100,000 47.6% Ronald Baron: 23,331,100 55.2% (b) Number of shares as to which such person has: (i) sole power to vote or direct the vote: BCG: 842,500 BAMCO: 0 BCM: 842,500 BAF: 0 Ronald Baron: 842,500 (ii) shared power to vote or direct the vote: BCG: 22,488,600 BAMCO: 20,655,000 BCM: 1,833,600 BAF: 20,100,000 Ronald Baron: 22,488,600 Page 9 of 12 Pages (iii) sole power to dispose or to direct the disposition: BCG: 842,500 BAMCO: 0 BCM: 842,500 BAF: 0 Ronald Baron: 842,500 (iv) shared power to dispose or direct the disposition: BCG: 22,488,600 BAMCO: 20,655,000 BCM: 1,833,600 BAF: 20,100,000 Ronald Baron: 22,488,600 * Reporting Persons may be deemed to share power to vote and dispose of shares referred to herein as a result of control relationships. Ronald Baron is the controlling person of BCG. BCG controls BAMCO and BCM. BAMCO is the investment adviser for BAF and other mutual funds owning shares of the Issuer. BCM is the investment adviser for various managed accounts owning shares of the Issuer. BCM has sole voting power for some of those shares. 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. (d) Ownership of More than Five Percent on Behalf of Another Person: The investment advisory clients have the right to receive the dividends from, or the proceeds from the sale of the securities in their respective accounts. To the best of Reporting Person's knowledge, other than the shares reported herein, no person has such interest relating to more than 5% of the outstanding class of securities. (e) Ownership of Less than Five Percent: Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer By virtue of their investment advisory agreements with their clients, BCM and BAMCO have been given the discretion to dispose or direct the disposition of the securities in the advisory accounts. All such agreements are, however, revocable. The advisory agreements for the Baron Funds have been approved by their Board of Trustees. The agreements of the Baron Funds are filed as exhibit 99 to Form N1-A for Baron Asset Fund and are incorporated by reference herein. All the advisory agreements are pursuant to a standard form. Item 7. Material to be Filed as Exhibits Exhibit 99 - 60 days of trading. Page 10 of 12 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. Date: April 17, 2000 Baron Capital Group, Inc., BAMCO, Inc., Baron Capital Management, Inc. and Baron Assert Fund By: /s/ Ronald Baron _______________________________________ Ronald Baron, Chairman and CEO Ronald Baron, Individually By: /s/ Ronald Baron _______________________________________ Ronald Baron EX-99 2 60-DAY TRANSACTION SCHEDULE Page 12 of 12 Pages Transaction Schedule* From 02-18-00 To 04-17-00 Exec. Date Acct ID Trans Qty Price - -------- ------- ----- ------- ------- 02-17-00 bamco buy 20,000 17.9375 02-25-00 bamco buy 20,000 19.5313 03-01-00 bamco buy 1,000 20.5625 03-01-00 bamco buy 14,000 20.9429 03-02-00 bamco buy 10,000 22.0000 03-02-00 bamco buy 10,000 23.0000 03-03-00 bamco buy 10,000 21.6875 03-06-00 bamco buy 20,000 21.9822 03-06-00 bamco buy 10,000 22.0000 03-07-00 bcm buy 13,500 20.2927 03-07-00 bamco buy 8,000 21.8047 03-07-00 bamco buy 7,000 20.2927 03-08-00 bamco buy 10,000 19.5531 03-09-00 bamco buy 10,000 21.3844 03-10-00 bamco buy 3,000 21.8125 03-13-00 bamco buy 12,000 20.5833 03-14-00 bamco buy 10,000 20.8594 04-06-00 bcm buy 35,000 16.9482 * All transactions were executed on the NYSE. -----END PRIVACY-ENHANCED MESSAGE-----