SPHERE ENTERTAINMENT CO SPHR
CL A · Common Stock · CUSIP 55826T102
American holding company in New York City
- SectorConsumer discretionary
- IndustryServices-Amusement & Recreation Services
- HeadquartersNew York, NY
- Websitesphereentertainmentco.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($24.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $62.12. Options: 23 managers hold calls ($124.7m notional), 18 hold puts ($100.6m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 192 |
| Q4 2022 | 186 |
| Q1 2023 | 190 |
| Q2 2023 | 179 |
| Q3 2023 | 197 |
| Q4 2023 | 202 |
| Q1 2024 | 210 |
| Q2 2024 | 211 |
| Q3 2024 | 215 |
| Q4 2024 | 227 |
| Q1 2025 | 214 |
| Q2 2025 | 225 |
| Q3 2025 | 260 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 97 | 87 |
| Q1 2024 | 105 | 94 |
| Q2 2024 | 109 | 91 |
| Q3 2024 | 100 | 102 |
| Q4 2024 | 101 | 92 |
| Q1 2025 | 89 | 98 |
| Q2 2025 | 120 | 84 |
| Q3 2025 | 128 | 107 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $182.1m | $54.5m | 0.30 |
| Q1 2025 | $94.4m | $41.5m | 0.44 |
| Q2 2025 | $68.1m | $56.4m | 0.83 |
| Q3 2025 | $124.7m | $100.6m | 0.81 |
Biggest buyers
| J. Goldman & Co LP | New | +592.8k |
| Balyasny Asset Management L.P. | Added | +553.5k |
| MANE GLOBAL CAPITAL MANAGEMENT LP | New | +356.5k |
| MORGAN STANLEY | Added | +335.3k |
| Woodline Partners LP | New | +330.0k |
| JPMORGAN CHASE & CO | Added | +289.2k |
| Nearwater Capital Markets, Ltd | New | +250.0k |
| Portolan Capital Management, LLC | New | +208.4k |
| Luxor Capital Group, LP | Added | +163.1k |
| MUFG Securities EMEA plc | New | +159.6k |
Biggest sellers
| ARIEL INVESTMENTS, LLC | Reduced | -1.1m |
| Point72 Asset Management, L.P. | Reduced | -1.1m |
| BARCLAYS PLC | Reduced | -730.3k |
| Holocene Advisors, LP | Reduced | -555.8k |
| PRIMECAP MANAGEMENT CO/CA/ | Sold out | -419.5k |
| Alberta Investment Management Corp | Sold out | -360.4k |
| ROYAL BANK OF CANADA | Reduced | -324.1k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -298.7k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -246.6k |
| Nuveen, LLC | Reduced | -224.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $30.1m485.0k shares |
| CITADEL ADVISORS LLC | Added | $20.8m334.1k shares |
| GROUP ONE TRADING LLC | Added | $11.0m176.7k shares |
| IMC-Chicago, LLC | Added | $9.9m159.5k shares |
| K2 PRINCIPAL FUND, L.P. | New | $7.1m114.7k shares |
| WOLVERINE TRADING, LLC | New | $6.9m110.6k shares |
| JANE STREET GROUP, LLC | Added | $5.8m93.1k shares |
| Militia Capital Partners, LP | Added | $5.6m225.0k shares |
| Balyasny Asset Management L.P. | New | $4.2m67.5k shares |
| D. E. Shaw & Co., Inc. | Added | $4.1m65.6k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $14.8m238.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $14.6m235.6k shares |
| JANE STREET GROUP, LLC | Added | $12.6m202.8k shares |
| SIMPLEX TRADING, LLC | Added | $11.8m189.6k shares |
| D. E. Shaw & Co., Inc. | Added | $9.4m152.1k shares |
| GROUP ONE TRADING LLC | Added | $8.9m142.9k shares |
| DLD Asset Management, LP | Unchanged | $7.0m112.0k shares |
| IMC-Chicago, LLC | Added | $4.8m77.6k shares |
| PEAK6 LLC | Added | $3.7m60.0k shares |
| WOLVERINE TRADING, LLC | New | $3.7m59.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| DOLAN JAMES LAWRENCE 13D · may seek influence +1.5 pts · filed 2026-10-22 | 14.5% |
| BlackRock, Inc. 13G · institution new · filed 2026-04-07 | 13.5% |
DOLAN CHARLES F
13D · may seek influence
filed 2024-12-31
Stated purposeThe disclosure in Item 4 is hereby amended by adding the following at the end thereof: Charles F. Dolan passed away on December 28, 2024. As a result, as described in Exhibit A to Amendment No. 3, each child of Charles F. Dolan has the power to appoint additional or successor Trustees, including himself or herself, and to remove Trustees with respect to the 2009 Family Trust for his or her benefit. Accordingly, James L. Dolan, Thomas C. Dolan, Kathleen M. Dolan, Marianne Dolan Weber and Deborah A. Dolan-Sweeney may each be deemed to beneficially own the shares owned of record by the 2009 Family Trust for his or her benefit (as reflected in Items 7 through 13 of each such person's cover page to this Amendment No. 4). Each of them disclaims beneficial ownership of the shares of Class A Comm… Full filing |
12.3% |
| MORGAN STANLEY 13G · institution +1.3 pts · filed 2026-08-12 | 8.3% |
| ARIEL INVESTMENTS, LLC 13G · institution -2.8 pts · filed 2026-08-14 | 5.8% |
| BARCLAYS PLC 13G · institution new · filed 2025-05-13 | 5.8% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.4% |
Fell to 5% or below in the last year: GAMCO INVESTORS, INC. ET AL (1.9%, 2026-08-14), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC), BANK OF NOVA SCOTIA (3.1%, 2026-01-27), Point72 Asset Management, L.P. (0.8%, 2025-11-14)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 1 | $10.7m | 2 | $815.5k | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| ARIEL INVESTMENTS, LLC 3.98% of their portfolio | 6.0m $372.4m | Reduced -1.1m |
| Jericho Capital Asset Management L.P. 1.75% of their portfolio | 2.7m $168.1m | Reduced -100.0k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.7m $165.6m | Reduced -48.9k |
| BlackRock, Inc. 0.00% of their portfolio | 2.0m $126.5m | Reduced -19.3k |
| MORGAN STANLEY 0.01% of their portfolio | 1.7m $108.1m | Added +335.3k |
| STEADFAST CAPITAL MANAGEMENT LP 1.41% of their portfolio | 1.3m $78.1m | Added +10.7k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 1.1m $67.8m | Reduced -298.7k |
| GAMCO INVESTORS, INC. ET AL 0.53% of their portfolio | 873.6k $54.3m | Reduced -11.1k |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 712.3k $44.2m | Added +553.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 671.1k $41.7m | Added +21.1k |
| STATE STREET CORP 0.00% of their portfolio | 637.3k $39.6m | Added +4.1k |
| J. Goldman & Co LP 1.39% of their portfolio | 592.8k $36.8m | New |
| GABELLI FUNDS LLC 0.23% of their portfolio | 548.1k $34.1m | Reduced -15.0k |
| DEUTSCHE BANK AG\ 0.01% of their portfolio | 540.0k $33.5m | Reduced -98.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 479.8k $29.8m | Added +289.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 356.6k $22.2m | Reduced -16.2k |
| MANE GLOBAL CAPITAL MANAGEMENT LP 1.04% of their portfolio | 356.5k $22.1m | New |
| Walleye Capital LLC 0.18% of their portfolio | 353.0k $21.9m | Reduced -79.6k |
| SYSTEMATIC FINANCIAL MANAGEMENT LP 0.52% of their portfolio | 345.0k $21.4m | Reduced -6.3k |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.45% of their portfolio | 337.5k $21.0m | Reduced -16.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 334.2k $20.8m | Reduced -324.1k |
| Woodline Partners LP 0.10% of their portfolio | 330.0k $20.5m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 328.5k $20.4m | Reduced -177.2k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 296.7k $18.4m | Reduced -70.8k |
| Nearwater Capital Markets, Ltd 0.21% of their portfolio | 250.0k $15.5m | New |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.96% of their portfolio | 243.2k $15.1m | Added +60.2k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 240.9k $15.0m | Added +33.0k |
| UBS Group AG 0.00% of their portfolio | 230.1k $14.3m | Added +8.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 228.1k $14.2m | Added +2.3k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 223.5k $13.9m | Reduced -1.1m |
| Portolan Capital Management, LLC 0.70% of their portfolio | 208.4k $12.9m | New |
| O'Keefe Stevens Advisory, Inc. 3.48% of their portfolio | 206.7k $12.8m | Reduced -1.5k |
| Holocene Advisors, LP 0.03% of their portfolio | 204.4k $12.7m | Reduced -555.8k |
| Empowered Funds, LLC 0.12% of their portfolio | 187.5k $11.6m | Added +3.2k |
| Luxor Capital Group, LP 1.59% of their portfolio | 187.2k $11.6m | Added +163.1k |
| Washington Trust Advisors, Inc. 0.84% of their portfolio | 178.5k $11.1m | Reduced -14.0k |
| Verition Fund Management LLC 0.06% of their portfolio | 162.9k $10.1m | Added +51.4k |
| MUFG Securities EMEA plc 0.25% of their portfolio | 159.6k $9.9m | New |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 153.6k $9.5m | Reduced -112.7k |
| Capitolis Liquid Global Markets LLC 0.07% of their portfolio | 150.8k $9.4m | New |
| Metavasi Capital LP 3.30% of their portfolio | 149.7k $9.3m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.01% of their portfolio | 146.0k $9.1m | Added +85.6k |
| North Star Investment Management Corp. 0.56% of their portfolio | 139.6k $8.7m | Reduced -1.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 134.7k $8.4m | Reduced -246.6k |
| Nuveen, LLC 0.00% of their portfolio | 132.6k $8.2m | Reduced -224.2k |
| GROUP ONE TRADING LLC 0.24% of their portfolio | 129.3k $8.0m | Added +93.4k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 126.1k $7.8m | Added +118.7k |
| PINNACLE ASSOCIATES LTD 0.10% of their portfolio | 124.4k $7.7m | Reduced -1.8k |
| PDT Partners, LLC 0.46% of their portfolio | 117.0k $7.3m | Unchanged |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 106.7k $6.6m | New |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 106.1k $6.6m | Reduced -223.5k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 97.5k $6.1m | Reduced -16.3k |
| Trexquant Investment LP 0.06% of their portfolio | 89.0k $5.5m | Reduced -91.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 85.4k $5.3m | Added +2.5k |
| Invesco Ltd. 0.00% of their portfolio | 85.0k $5.3m | Added +26.6k |
| Squarepoint Ops LLC 0.01% of their portfolio | 82.0k $5.1m | Reduced -68.5k |
| Nicholas Investment Partners, LP 0.39% of their portfolio | 81.3k $5.0m | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 75.7k $4.7m | Added +5.7k |
| FRED ALGER MANAGEMENT, LLC 0.02% of their portfolio | 74.6k $4.6m | New |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 72.6k $4.5m | Added +31.1k |
| Bridgewater Associates, LP 0.02% of their portfolio | 69.4k $4.3m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 68.3k $4.2m | Added +34.8k |
| MYDA Advisors LLC 1.20% of their portfolio | 64.0k $4.0m | New |
| HRT FINANCIAL LP 0.02% of their portfolio | 62.2k $3.9m | Added +24.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 60.7k $3.8m | Reduced -56.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 59.5k $3.7m | Reduced -1.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.04% of their portfolio | 59.4k $3.7m | Reduced -22.3k |
| ExodusPoint Capital Management, LP 0.05% of their portfolio | 57.7k $3.6m | Reduced -62.0k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 57.3k $3.6m | Reduced -12.1k |
| Poehling Capital Management, INC. 0.70% of their portfolio | 53.5k $3.3m | Reduced -370 |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 51.3k $3.2m | Added +37.2k |
| WOLVERINE TRADING, LLC 0.06% of their portfolio | 51.3k $3.2m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 51.2k $3.2m | Reduced -47.1k |
| PEAK6 LLC 0.04% of their portfolio | 51.0k $3.2m | Added +18.1k |
| Swiss National Bank 0.00% of their portfolio | 50.9k $3.2m | Added +700 |
| CITIGROUP INC 0.00% of their portfolio | 50.6k $3.1m | Added +24.5k |
| HORIZON KINETICS ASSET MANAGEMENT LLC 0.04% of their portfolio | 49.4k $3.1m | Reduced -4.4k |
| PINNBROOK CAPITAL MANAGEMENT LP 0.56% of their portfolio | 49.0k $3.0m | New |
| CAXTON ASSOCIATES LLP 0.08% of their portfolio | 47.9k $3.0m | Reduced -447 |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 47.4k $2.9m | Reduced -2.1k |
| SG Americas Securities, LLC 0.01% of their portfolio | 47.3k $2.9m | New |
| Brevan Howard Capital Management LP 0.04% of their portfolio | 47.0k $2.9m | Reduced -64.2k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 44.7k $2.8m | Reduced -6.9k |
| SANDLER CAPITAL MANAGEMENT 1.01% of their portfolio | 44.4k $2.8m | Reduced -25.6k |
| FMR LLC 0.00% of their portfolio | 43.5k $2.7m | Added +41.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.01% of their portfolio | 40.8k $2.5m | New |
| BOYAR ASSET MANAGEMENT INC. 1.59% of their portfolio | 40.4k $2.5m | Reduced -2.5k |
| BARCLAYS PLC 0.00% of their portfolio | 39.2k $2.4m | Reduced -730.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 36.1k $2.2m | Added +2.0k |
| Quinn Opportunity Partners LLC 0.16% of their portfolio | 35.0k $2.2m | New |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 34.8k $2.0m | Added +29.6k |
| SIMPLEX TRADING, LLC 0.04% of their portfolio | 30.4k $1.9m | Added +28.6k |
| Quadrature Capital Ltd 0.02% of their portfolio | 25.7k $1.6m | New |
| Legal & General Group Plc 0.00% of their portfolio | 25.6k $1.6m | Reduced -5.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 23.8k $1.5m | Added +6 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 22.8k $1.4m | Reduced -305 |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 22.2k $1.4m | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 22.0k $1.4m | Added +15.3k |
| Radnor Capital Management, LLC 0.20% of their portfolio | 21.2k $1.3m | Reduced -800 |
| Jump Financial, LLC 0.02% of their portfolio | 20.8k $1.3m | Reduced -37.5k |