Sphere Entertainment

SPHR • NYSE

Sphere Entertainment is a entertainment company in the communication services sector on NYSE, led by James L. Dolan, with a market cap of $2.9B. As of Q3 2025, 92% of shares are held by 258 institutional investors, with ARIEL INVESTMENTS, LLC as the largest holder at 16.65%.

Executive Chairman and Chief Executive OfficerJames L. Dolan

Market Cap$2.9B

Entertainment

Communication Services

Employees1.1K

Websitesphereentertainmentco.com

Country

United States of America

Overview

Overview of institutional ownership in SPHR as of Q3 2025 with a market cap of $2.2B

All Institutions

Institutions: 258
Value Held: $2.1B
Shares Held: 33.2M
Avg Position: $8.0M
Median Position: $615.1K

Hedge Funds

Hedge Funds: 49
Value Held: $578.5M
Shares Held: 9.3M
Avg Position: $11.8M
Median Position: $3.6M

Ownership Breakdown

Institutional (non-HF)

66.39%

$1.5B

Hedge Funds

25.87%

$578.5M

Retail & Other

7.74%

$173.1M

Based on market cap of $2.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in SPHR as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
ARIEL INVESTMENTS, LLC Long Only Manager	John Washington Rogers CEO	$372.4M 3.98% of portfolio	16.65% 6.0M shares	Q4 2022 Held for 2y 11m	$9.4B
J Jericho Capital Asset Management L.P. Hedge Fund•Long/Short	Emer O'Hanlon CFO	$168.1M 1.75% of portfolio	7.52% 2.7M shares	Q3 2023 Held for 2y 2m	$9.6B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$165.6M 0.00% of portfolio	7.41% 2.7M shares	Q4 2022 Held for 2y 11m	$6.69T
B BlackRock, Inc. Institution	-	$126.5M 0.00% of portfolio	5.66% 2.0M shares	Q4 2022 Held for 2y 11m	$5.67T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$108.1M 0.01% of portfolio	4.83% 1.7M shares	Q4 2022 Held for 2y 11m	$1.65T
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Sheena Koshy COO	$78.1M 1.42% of portfolio	3.49% 1.3M shares	Q3 2024 Held for 1y 2m	$5.5B
DIMENSIONAL FUND ADVISORS LP Long Only Manager	Gerard Kieran O'Reilly CEO	$67.8M 0.01% of portfolio	3.03% 1.1M shares	Q4 2022 Held for 2y 11m	$466.32B
G GAMCO INVESTORS, INC. ET AL Institution	-	$54.3M 0.53% of portfolio	2.43% 873.6K shares	Q4 2022 Held for 2y 11m	$10.3B
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	Dmitry Balyasny CIO	$44.2M 0.09% of portfolio	1.98% 712.3K shares	Q1 2023 Held for 2y 8m	$48.1B
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$41.7M 0.00% of portfolio	1.86% 671.1K shares	Q4 2022 Held for 2y 11m	$1.57T

Net Capital Flow

Institutional buying and selling activity for SPHR in Q3 2025

Net Flow: −$263.0M
Buyers: 75
Sellers: 107
Total Bought: +$166.1M
Total Sold: −$429.1M
Avg Position: $8.4M

Biggest Buyers

Institution	Net Bought	Current Position
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	+$36.8M +592.8K shares	$36.8M 592.8K shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$34.4M +553.5K shares	$44.2M 712.3K shares
MORGAN STANLEY RIA/Wealth	+$20.8M +335.3K shares	$108.1M 1.7M shares
Luxor Capital Group, LP Hedge Fund•Multi-Strategy	+$10.1M +163.1K shares	$11.6M 187.2K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$7.4M +118.7K shares	$7.8M 126.1K shares
G GROUP ONE TRADING, L.P. Institution	+$5.8M +93.4K shares	$8.0M 129.3K shares
C CANADA PENSION PLAN INVESTMENT BOARD Institution	+$5.3M +85.6K shares	$9.1M 146.0K shares
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Market Neutral	+$3.7M +60.2K shares	$15.1M 243.2K shares
Verition Fund Management LLC Hedge Fund•Multi-Strategy	+$3.2M +51.4K shares	$10.1M 162.9K shares
W WOLVERINE TRADING, LLC Institution	+$3.2M +51.3K shares	$3.2M 51.3K shares

Biggest Sellers

Institution	Net Sold	Current Position
ARIEL INVESTMENTS, LLC Long Only Manager	−$68.7M −1.1M shares	$372.4M 6.0M shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	−$66.1M −1.1M shares	$13.9M 223.5K shares
BARCLAYS PLC Institution	−$45.4M −730.3K shares	$2.4M 39.2K shares
Holocene Advisors, LP Hedge Fund•Long/Short	−$34.5M −555.8K shares	$12.7M 204.4K shares
DIMENSIONAL FUND ADVISORS LP Long Only Manager	−$18.6M −298.7K shares	$67.8M 1.1M shares
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	−$17.5M −419.5K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$15.3M −246.6K shares	$8.4M 134.7K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	−$15.1M −360.4K shares	Sold Off 0 shares
N Nuveen, LLC Institution	−$13.9M −224.2K shares	$8.2M 132.6K shares
WELLS FARGO & COMPANY/MN Institution	−$13.9M −223.5K shares	$6.6M 106.1K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SPHR in Q3 2025

New Positions: 36
New Value: $102.3M
Exited Positions: 23
Exited Value: $59.4M

New Positions

Institution	Position Value
Woodline Partners LP Hedge Fund•Long/Short	$20.5M 330.0K shares
N Nearwater Capital Markets, Ltd Institution	$15.5M 250.0K shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	$12.9M 208.4K shares
M Mitsubishi UFJ Securities International PLC Institution	$9.9M 159.6K shares
C Capitolis Liquid Global Markets LLC Private Equity	$9.4M 150.8K shares
M Metavasi Capital LP Hedge Fund•Long/Short	$9.3M 149.7K shares
Nicholas Investment Partners, LP Long Only Manager	$5.0M 81.3K shares
F FRED ALGER MANAGEMENT INC Long Only Manager	$4.6M 74.6K shares
Bridgewater Associates, LP Hedge Fund•Global Macro	$4.3M 69.4K shares
P PINNBROOK CAPITAL MANAGEMENT LP Hedge Fund•Global Macro	$3.0M 49.0K shares

Exited Positions

Institution	Previous Position
PRIMECAP MANAGEMENT CO/CA/ Long Only Manager	$17.5M 419.5K shares
H Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Institution	$15.1M 360.4K shares
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$9.2M 219.3K shares
H Honeycomb Asset Management LP Hedge Fund•Long/Short	$6.3M 150.0K shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	$3.0M 72.2K shares
T TWINBEECH CAPITAL LP Hedge Fund•Quant	$1.8M 42.1K shares
C Campbell & CO Investment Adviser LLC Hedge Fund•Quant Macro	$1.3M 31.9K shares
IMC-Chicago, LLC RIA/Wealth	$935.0K 22.4K shares
G GAM Holding AG Institution	$836.0K 20.0K shares
D Dynamic Technology Lab Private Ltd Institution	$756.6K 18.1K shares

Options Activity

Institutions with the largest Call and Put options positions in SPHR as of Q3 2025

Call Positions: 21
Call Value: $97.6M
Put Positions: 16
Put Value: $73.3M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$30.1M 4.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$20.8M 3.3K contracts
K K2 PRINCIPAL FUND, L.P. Institution	$7.1M 1.1K contracts
W WOLVERINE TRADING, LLC Institution	$6.9M 1.1K contracts
J JANE STREET GROUP, LLC Institution	$5.8M 931.0 contracts
Militia Capital Partners, LP Hedge Fund•Long/Short	$4.7M 750.0 contracts
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	$4.2M 675.0 contracts
D D. E. Shaw & Co., Inc. Institution	$4.1M 656.0 contracts
Verition Fund Management LLC Hedge Fund•Multi-Strategy	$3.1M 500.0 contracts
WELLS FARGO & COMPANY/MN Institution	$3.1M 497.0 contracts

Put Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$14.8M 2.4K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$14.6M 2.4K contracts
J JANE STREET GROUP, LLC Institution	$12.6M 2.0K contracts
D D. E. Shaw & Co., Inc. Institution	$9.4M 1.5K contracts
DLD Asset Management, LP Hedge Fund•Multi-Strategy	$7.0M 1.1K contracts
W WOLVERINE TRADING, LLC Institution	$3.7M 592.0 contracts
C CSS LLC/IL Institution	$2.0M 325.0 contracts
P PEAK6 LLC Institution	$1.9M 300.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$1.7M 278.0 contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$1.6M 250.0 contracts

Most Committed Institutions

Institutions with SPHR as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
ARIEL INVESTMENTS, LLC Long Only Manager	John Washington Rogers CEO	3.98% $372.4M	16.65% 6.0M shares	Q4 2022 Held for 2y 11m	$9.4B
O'Keefe Stevens Advisory, Inc. RIA/Wealth	Justin Dean Stevens President	3.48% $12.8M	0.57% 206.7K shares	Q2 2023 Held for 2y 5m	$369.3M
M Metavasi Capital LP Hedge Fund•Long/Short	Peter Edward Treadway CIO	3.30% $9.3M	0.42% 149.7K shares	Q3 2025 Held for 2 months	$281.8M
J Jericho Capital Asset Management L.P. Hedge Fund•Long/Short	Emer O'Hanlon CFO	1.75% $168.1M	7.52% 2.7M shares	Q3 2023 Held for 2y 2m	$9.6B
Luxor Capital Group, LP Hedge Fund•Multi-Strategy	Christian Alexander Leone CEO	1.63% $11.6M	0.52% 187.2K shares	Q4 2022 Held for 2y 11m	$713.8M
B BOYAR ASSET MANAGEMENT INC Hedge Fund•Value	Mark Alan Boyar President	1.59% $2.5M	0.11% 40.4K shares	Q4 2022 Held for 2y 11m	$158.0M
S STEADFAST CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Sheena Koshy COO	1.42% $78.1M	3.49% 1.3M shares	Q3 2024 Held for 1y 2m	$5.5B
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	Jay Glenn Goldman CEO	1.40% $36.8M	1.65% 592.8K shares	Q2 2024 Held for 1y 5m	$2.6B
M MYDA Advisors LLC Hedge Fund•Long/Short	Jason Marc Lieber Managing Partner	1.30% $4.0M	0.18% 64.0K shares	Q3 2025 Held for 2 months	$305.2M
MANE GLOBAL CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	Rami R Abdel-Misih CIO	1.04% $22.1M	0.99% 356.5K shares	Q3 2025 Held for 2 months	$2.1B

Hedge Fund Spotlight

Discover hedge funds investing in SPHR

Woodline Partners LP

Hedge Fund • Long/Short

Portfolio ManagerKarl Heinz Kroeker

Portfolio Value: $21.3B
Positions: 868
Last Reported: Q3 2025

Sector Allocation

Position in Sphere Entertainment

Market Value: $20.5M
Shares Held: 330.0K
Portfolio Weight: 0.10%
Owned Since: 2025-Q3

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