SPHERE ENTERTAINMENT CO SPHR 3.5 12.01.28
NOTE 3.500%12/0 · US DOMESTIC · CUSIP 55826TAB8
21
institutional holders
-2 vs Q3 2025
23.1m
shares reported held*
$710.3mreported value*
3 new
8 added
4 reduced
6 sold out
net sold ≈ $5.6m (+3.0m shares)
* 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. Holder counts are more reliable. Implied quarter-end price ≈ $30.68.
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q4 2024 | 17 |
| Q1 2025 | 17 |
| Q2 2025 | 19 |
| Q3 2025 | 23 |
| Q4 2025 | 21 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Bought or addedCut or sold out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2025 | 3 | 6 |
| Q2 2025 | 12 | 3 |
| Q3 2025 | 11 | 5 |
| Q4 2025 | 11 | 10 |
Biggest buyers
| Context Capital Management, LLC | Added | +4.0m |
| Alberta Investment Management Corp | Added | +2.2m |
| Polar Capital Holdings Plc | New | +2.0m |
| ARISTEIA CAPITAL, L.L.C. | Added | +1.5m |
| Linden Advisors LP | Added | +1.1m |
| CARRONADE CAPITAL MANAGEMENT, LP | Added | +950.0k |
| MORGAN STANLEY | New | +750.0k |
| BlackRock, Inc. | Added | +600.0k |
| BANK OF AMERICA CORP /DE/ | Added | +550.0k |
| Jefferies Financial Group Inc. | New | +38.0k |
Biggest sellers
| Jump Financial, LLC | Sold out | -2.3m |
| MACQUARIE GROUP LTD | Sold out | -2.2m |
| LORD, ABBETT & CO. LLC | Sold out | -2.1m |
| Polar Capital Holdings Plc | Sold out | -2.0m |
| JPMORGAN CHASE & CO | Reduced | -1.4m |
| Luxor Capital Group, LP | Reduced | -1.0m |
| Covalent Partners LLC | Sold out | -500.0k |
| SSI INVESTMENT MANAGEMENT LLC | Reduced | -250.0k |
| VIRTUS ADVISERS, LLC | Reduced | -38.0k |
| TORONTO DOMINION BANK | Sold out | -18.0k |
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| Linden Advisors LP 1.39% of their portfolio | 82.3m $226.5m | Added +1.1m |
| WHITEBOX ADVISORS LLC 3.04% of their portfolio | 66.6m $182.5m | Unchanged |
| Alberta Investment Management Corp 0.41% of their portfolio | 24.8m $68.3m | Added +2.2m |
| CARRONADE CAPITAL MANAGEMENT, LP 5.36% of their portfolio | 21.1m $58.4m | Added +950.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 8.0m $21.9m | Unchanged |
| Calamos Advisors LLC 0.09% of their portfolio | 7.5m $20.8m | Added +8.0k |
| ARISTEIA CAPITAL, L.L.C. 0.47% of their portfolio | 6.0m $16.5m | Added +1.5m |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 6.0m $16.4m | Unchanged |
| Luxor Capital Group, LP 2.04% of their portfolio | 5.0m $13.7m | Reduced -1.0m |
| SSI INVESTMENT MANAGEMENT LLC 0.74% of their portfolio | 4.0m $11.0m | Reduced -250.0k |
| Context Capital Management, LLC 0.28% of their portfolio | 4.0m $11.0m | Added +4.0m |
| FMR LLC 0.00% of their portfolio | 3.9m $10.8m | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 3.2m $8.8m | Added +600.0k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.01% of their portfolio | 2.2m $5.9m | First filing |
| Polar Capital Holdings Plc 0.03% of their portfolio | 2.0m $5.5m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.5m $4.2m | Added +550.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.0m $2.7m | Reduced -1.4m |
| MORGAN STANLEY 0.00% of their portfolio | 750.0k $2.1m | New |
| Jefferies Financial Group Inc. 0.00% of their portfolio | 38.0k $101.7k | New |
| VIRTUS ADVISERS, LLC 0.03% of their portfolio | 20.0k $54.8k | Reduced -38.0k |
| K2 PRINCIPAL FUND, L.P. 2.42% of their portfolio | 8.5k $23.4m | Unchanged |