Ariel Investments reports 6.11M Madison Square Garden shares (NYSE: MSGE)

Rhea-AI Filing Summary

Madison Square Garden Entertainment Corp reports that Ariel Investments, LLC beneficially owns 6,105,583 shares of Class A common stock, representing 15.1% of the class as disclosed in this Amendment No. 6 filing.

The filing states Ariel has sole voting power over 5,518,647 shares and sole dispositive power over 6,105,583 shares. It notes adviser clients have rights to dividends/proceeds and that Ariel Fund holds 2,377,565 shares as an economic interest in excess of 5%.

Insights

Institutional Ownership Analyst

Large passive stake disclosed; ownership concentrated in one adviser.

Ariel Investments reports a 15.1% beneficial holding of Madison Square Garden Entertainment Corp, with 6,105,583 shares listed as beneficially owned. The filing clarifies voting and dispositive counts, showing concentrated control metrics useful for shareholder structure analysis.

Timing and trading intent are not included; subsequent filings or amendments would show changes. Future disclosures may show whether this holding is passive under Schedule 13G rules or has changed in nature.

Corporate Governance Specialist

Adviser-client arrangements and >5% economic holder are highlighted.

The schedule notes that Ariel's adviser clients have the right to receive dividends or proceeds for the reported shares. The disclosure also identifies Ariel Fund with 2,377,565 shares, meeting the >5% economic-interest threshold.

These facts clarify beneficial ownership paths relevant for voting blocs and proxy considerations; any governance implications depend on subsequent voting disclosures.

Key Figures

Beneficially owned: 6,105,583 shares Percent of class: 15.1% Sole voting power: 5,518,647 shares +2 more

5 metrics

Beneficially owned 6,105,583 shares Amount beneficially owned reported in Amendment No. 6

Percent of class 15.1% Percent of Class A common stock reported

Sole voting power 5,518,647 shares Number with sole power to vote or direct the vote

Sole dispositive power 6,105,583 shares Number with sole power to dispose or direct disposition

Ariel Fund economic interest 2,377,565 shares Ariel Fund, a series of Ariel Investment Trust, holds this economic interest

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment No. 6 and header identifying the filing type"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Item 4(a) Amount beneficially owned: 6,105,583"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Item 4(c)(iii) Sole power to dispose: 6,105,583"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Madison Square Garden Entertainment Corp

(Name of Issuer)

Common Stock SH CL A

(Title of Class of Securities)

558256103

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 558256103

1

Names of Reporting Persons

Ariel Investments, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 5,518,647.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 6,105,583.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,105,583.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

15.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Madison Square Garden Entertainment Corp
(b)	Address of issuer's principal executive offices: Two Pennsylvania Plaza, New York, NY 10121
Item 2.
(a)	Name of person filing: Ariel Investments, LLC
(b)	Address or principal business office or, if none, residence: 200 E. Randolph Street, Suite 2900, Chicago, 60601, United States
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: Common Stock SH CL A
(e)	CUSIP No.: 558256103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 6,105,583
(b)	Percent of class: 15.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 5,518,647
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 6,105,583
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Ariel Investments, LLC's adviser clients have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, all securities reported upon this Schedule. Ariel Fund, a series of Ariel Investment Trust, an open-end management investment company, owns 2,377,565 shares of the Issuer which represents an economic interest in more than 5% of the subject securities reported upon this Schedule.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Ariel Investments, LLC

Signature:	James Prescott
Name/Title:	Vice President, Compliance
Date:	05/14/2026

FAQ

How many MSGE shares does Ariel Investments report owning?

Ariel Investments reports beneficial ownership of 6,105,583 shares of MSGE common stock. This equals a 15.1% stake in the class as stated in the Amendment No. 6 filing for the reporting period.

What voting power does Ariel Investments hold in MSGE?

Ariel Investments reports sole voting power over 5,518,647 shares of MSGE common stock. The filing lists voting and dispositive figures separately to show control and disposition authorities.

Does Ariel hold shares on behalf of a fund with >5% interest in MSGE?

Yes. The filing identifies Ariel Fund, a series of Ariel Investment Trust, as owning 2,377,565 shares, representing an economic interest above the 5% threshold for that fund.

Does the filing state whether Ariel's stake is passive or active?

The schedule discloses beneficial ownership and adviser-client rights but does not state whether the position is passive or active. The filing focuses on voting and dispositive powers rather than investment intent.