Steven Cohen’s family office, Point 72 Asset Management, increased its stake in Sotheby’s to 3.22m shares or 5.5% of the company. Cohen has significantly increased his holdings since the last reporting. No doubt he added to the position as the stock fell to its lowest point in the first quarter.
That puts Cohen third in line among hedge fund equity holders behind Daniel Loeb’s Third Point which owns a little more than twice what Cohen has amassed and Marcato which reduced its stake in Sotheby’s by 315,000 shares during the same period.
Marcato still owns 10% of the auction house. The SEC filing shows Point 72 Asset Management with these holdings of BID:
SOTHEBYS $86,071,000 3,220,000
