Atticus Capital Accumulates 5.4% Stake In Sotheby's (BID)
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In a 13G filing on Sotheby's (NYSE: BID), Timothy Barakett's Atticus Capital LP disclosed a 3,584,110 share, or 5.4% stake. A 13G indicates a 'passive investment' over 5%. The firm did not show a stake BID at the quarter ended March 31, 2009.
Barakett's Atticus Capital hedge fund had a horrible 2008, but over the long run he has been viewed as a great stock picker.
It should also be noted, that Steve Cohen's SAC Capital owns an over 6% stake in BID.
Sotheby's, together with its subsidiaries, operates as an auctioneer of fine art, antiques and decorative art, and jewelry and collectibles primarily in the United States, the United Kingdom, the People's Republic of China, and France.
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