What smart money is saying about Sphere Entertainment
3 funds in our archive have pitched Sphere Entertainment — most recently O’Keefe Stevens Advisory in June 2026.
Sphere Entertainment Co. is a prominent player in the entertainment sector, specializing in orchestrating, staging, and hosting a diverse array of live events. This encompasses musical concerts, family-oriented productions, and unique special occasions, alongside a variety of athletic competitions. Its sports programming includes professional boxing, collegiate basketball and hockey, professional bull riding, mixed martial arts, esports tournaments, and wrestling matches. These events are primarily hosted across its esteemed venues such as The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City, as well as The Chicago Theatre. Furthermore, Sphere Entertainment manages a substantial network of 70 entertainment, dining, and nightlife establishments, which are distributed across 20 global markets on five continents under renowned brands like Tao, Marquee, Lavo, Beauty & Essex, Cathédrale, Hakkasan, and Omnia. The company also oversees the creation and operation of a leading music festival in New England. A highlight of its offerings is the iconic Radio City Rockettes, who are central to the celebrated Christmas Spectacular held annually at Radio City Music Hall. Previously known as Madison Square Garden Entertainment Corp., the organization adopted its current name, Sphere Entertainment Co., in April 2023. Established in 2006, the company maintains its headquarters in New York, New York.
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Position history
Between Q2 2025 and Q3 2026, 7 fund letters reported a position in Sphere Entertainment — 1 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 1 | 0 | 0 |
| Q2 2026 | 2 | 0 | 0 | 2 |
| Q1 2026 | 1 | 0 | 0 | 0 |
| Q4 2025 | 1 | 0 | 0 | 1 |
| Q2 2025 | 2 | 0 | 0 | 0 |
Fund activity · 7 positions · 1 move
- September 2026
Listed in JAG Capital Management Small Mid Cap Growth Strategy’s reported holdings.
Sphere Entertainment - June 2026
Listed in Ariel Investments Small Cap Value Strategy’s reported holdings.
Sphere Entertainment - June 2026
“Live entertainment, media, and technology company, Sphere Entertainment Co. (SPHR) traded higher on solid earnings and improving operating fundamentals.”
Sphere Entertainment - March 2026
“Live entertainment, media, and technology company, Sphere Entertainment Co. (SPHR) traded higher during the quarter, supported by solid earnings and improving operating fundamentals.”
Sphere Entertainment - HoldsCreek Drive Capital ManagementDecember 2025
“Sphere Entertainment Sphere Entertainment was up 138% over the year, reflecting nearly two years of sustained, data-driven conviction rather than a single opportunistic call. For much of that period, the market appeared to value the company almost entirely on trailing, realized cash flows. Our view was that this framework materially understated the business: Sphere possessed substantial embedded optionality and operating leverage, giving it a clear path to meaningful earnings power as utilization and content cadence improved. We built the position aggressively when the stock traded at deeply discounted levels and maintained significant exposure as identifiable earnings catalysts began to play out.”
Sphere Entertainment - HoldsAriel FundJune 2025
“Live entertainment, media and technology company, Sphere Entertainment Co. (SPHR) advanced following a quarterly earnings beat driven by resilient consumer demand and lower than anticipated operating costs.”
Sphere Entertainment - June 2025
“Several stocks in the portfolio delivered solid returns in the quarter. Leading global financial franchise Northern Trust Corporation (NTRS) advanced following strong quarterly earnings results and rumors of a potential merger with Bank of New York Mellon. In our view, NTRS remains a trusted name offering diversified products in a favorable industry with high barriers to entry. We believe Northern’s 135-year track record highlights its stability and strength in navigating macroeconomic volatility with a conservative, operating approach. Live entertainment, media and technology company, Sphere Entertainment Co. (SPHR) traded higher following a quarterly earnings beat driven by resilient consumer demand and lower than anticipated operating costs.”
Sphere Entertainment
Fund coverage · 3 theses
- O’Keefe Stevens AdvisoryJune 2026
Sphere Entertainment continues to show strong unit economics, with new shows, Abu Dhabi expansion, and the high-margin exosphere supporting longer-term upside.
Read the full thesis - Ariel Investments Small Cap ValueJune 2026
Sphere Entertainment Co. is leveraging strong demand and a potential global network of venues to drive margin expansion and long-term growth.
Read the full thesis - Ariel Small Cap ValueDecember 2025
Sphere Entertainment Co. is a live entertainment platform with scalable venues and growing utilization that supports a compelling long-term growth opportunity.
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