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)*
SOTHEBY'S HOLDINGS, INC.
-----------------------------------------------------
(Name of Issuer)
CLASS A
-----------------------------------------------------
(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)
December 22, 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)<PAGE>
<PAGE>
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 835898107 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 427,300
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 22,418,900
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 427,300
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,418,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,846,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
HC, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 835898107 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
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 20,810,400
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,810,400
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,810,400
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
52.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 835898107 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 427,300
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 1,608,500
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 427,300
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,608,500
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,035,800
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA, CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 835898107 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
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 20,565,400
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
20,565,400
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,565,400
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
51.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IV, OO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Amendment Number 10 to Schedule 13D (continued)
CUSIP No. 835898107 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 427,300
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 22,418,900
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 427,300
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,418,900
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,846,200
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
57.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
<PAGE>
Page 7 of 11 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
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: President: BCG, BAMCO, BCM; CEO OF 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 20,810,400 shares of the Issuer
for its investment advisory clients for an aggregate purchase
price of $443,337,718. Of those shares, 20,565,400 were purchased
for the account of BAF for a total purchase price of $438,756,697.
BCM directed the purchase of 1,608,500 shares of the issuer for
its investment advisory clients for an aggregate purchase price
of $34,797,810 and 427,300 shares of the issuer for two investment
partnerships for an aggregate purchase price of $9,134,933.
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>
<PAGE>
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: 22,846,200 57.3%
BAMCO: 20,810,400 52.2%
BCM: 2,035,800 5.1%
BAF: 20,565,400 51.5%
Ronald Baron: 22,846,200 57.3%
(b) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
BCG: 427,300
BAMCO: 0
BCM: 427,300
BAF: 0
Ronald Baron: 427,300
(ii) shared power to vote or direct the vote:
BCG: 22,418,900
BAMCO: 20,810,400
BCM: 1,608,500
BAF: 20,565,400
Ronald Baron: 22,418,900
(iii) sole power to dispose or to direct the disposition:
BCG: 427,300
BAMCO: 0
BCM: 427,300
BAF: 0
Ronald Baron: 427,300
(iv) shared power to dispose or direct the disposition:
BCG: 22,418,900
BAMCO: 20,810,400
BCM: 1,608,500
BAF: 20,565,400
Ronald Baron: 22,418,900
*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.
#The percentages reported are with respect to Class A stock
only, which has one vote per share. The Issuer's Class B
stock has 10 votes per share, making the total combined
voting percentage for the Registrants hereunder equal to
10.9% of the combined voting power of the Issuer's
outstanding voting securities.
(c) A schedule of transactions effected in the last eighteen
days is attached hereto.
<PAGE>
<PAGE>
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 - 18 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: December 23, 1998
Baron Capital Group, Inc., BAMCO, Inc.,
Baron Capital Management, Inc. and
Baron Assert Fund
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron, President
Ronald Baron, Individually
By:
/s/ Ronald Baron
_______________________________________
Ronald Baron
Transaction Schedule
From 12-05-98 To 12-22-98
Exec.
Date Acct ID Trans Qty Price
- -------- ------- ----- ------- -------
12-07-98 bamco buy 30,000 26.3750
12-07-98 bamco buy 10,000 26.2500
12-08-98 bamco buy 15,000 26.0625
12-08-98 bamco buy 30,000 25.5625
12-09-98 bamco buy 20,000 25.5625
12-09-98 bamco buy 25,000 25.3750
12-10-98 bamco buy 25,000 25.2500
12-11-98 bamco buy 25,000 25.0350
12-14-98 bamco buy 50,000 23.9981
12-15-98 bamco buy 4,300 24.2500
12-15-98 bamco buy 50,000 24.2500
12-15-98 bcm sell 12,500 24.6313
12-16-98 bcm sell 5,000 24.0625
12-17-98 bcm buy 4,700 25.4707
12-18-98 bamco buy 12,500 26.4100
12-21-98 bamco buy 29,100 28.0000
12-21-98 bamco buy 10,000 28.0991
12-21-98 bcm buy 18,000 28.0000
12-21-98 bcm buy 1,000 28.0991
12-21-98 bcm buy 3,000 28.0991
12-21-98 bcm buy 2,500 28.0000
12-21-98 bcm buy 2,500 28.0991
12-21-98 bcm sell 7,500 28.0083
12-21-98 bcm buy 7,000 28.0000
12-21-98 bcm buy 5,600 28.0991
12-21-98 bcm buy 2,500 28.0000
12-21-98 bcm buy 2,500 28.0991
12-21-98 bcm buy 5,400 28.0000
12-21-98 bcm buy 4,600 28.0991
12-22-98 bamco buy 139,500 30.8091
12-22-98 bcm buy 6,000 30.8091
12-22-98 bcm buy 7,700 30.8091
12-22-98 bcm buy 3,500 30.8091
12-22-98 bcm buy 15,000 30.8091
12-22-98 bcm buy 4,500 30.8091
