Ariel Investments (SPHR) discloses 2.46M shares, 8.6% ownership

Rhea-AI Filing Summary

Sphere Entertainment Co reports a Schedule 13G/A filing showing Ariel Investments, LLC beneficially owns 2,462,309 shares of Class A common stock, representing 8.6% of the class.

The filing lists Ariel's sole voting power as 2,161,632 shares and sole dispositive power as 2,462,309 shares. The filing is signed by James Prescott, Vice President, Compliance, dated 05/14/2026.

Insights

Institutional Ownership Analyst

Ariel Investments holds an 8.6% passive stake in Sphere Entertainment Co via a Schedule 13G/A.

The filing states Ariel Investments, LLC beneficially owns 2,462,309 shares with 2,161,632 shares of sole voting power and 2,462,309 shares of sole dispositive power. The disclosure clarifies adviser-client relationships and notes no single client holds >5% economically.

Because this is a Schedule 13G/A disclosure of beneficial ownership, the filing reflects ownership reporting rather than a corporate action; subsequent filings would show any change in voting intent or disposition.

Regulatory Compliance Specialist

The amendment updates beneficial ownership and confirms adviser-client dividend/proceeds rights.

The filing includes an Item 6 disclosure that Ariel's adviser clients have rights to dividends or sale proceeds for reported securities, and asserts none of those clients individually exceed 5% economic interest. The signature block is dated 05/14/2026.

Reporters should watch for future amendments that change percent ownership or voting power; this filing itself is informational under Schedule 13G/A rules.

Key Figures

Beneficial ownership: 2,462,309 shares Percent of class: 8.6% Sole voting power: 2,161,632 shares +2 more

5 metrics

Beneficial ownership 2,462,309 shares Class A common stock

Percent of class 8.6% reported on Schedule 13G/A

Sole voting power 2,161,632 shares amount with sole power to vote

Sole dispositive power 2,462,309 shares amount with sole power to dispose

Filing signature date 05/14/2026 signature by James Prescott, Vice President, Compliance

Key Terms

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

4 terms

Schedule 13G/A regulatory

"Amendment No. 15 ) Sphere Entertainment Co Common Stock SH CL A"

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 regulatory

"Item 4. | Ownership (a) | Amount beneficially owned: 2,462,309"

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

"(iii) Sole power to dispose or to direct the disposition of: 2,462,309"

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.

Adviser clients financial

"Ariel Investments, LLC's adviser clients have the right to receive or the power to direct"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

Sphere Entertainment Co

(Name of Issuer)

Common Stock SH CL A

(Title of Class of Securities)

55826T102

(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): 55826T102

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 2,161,632.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,462,309.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,462,309.00

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)

8.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sphere Entertainment Co
(b)	Address of issuer's principal executive offices: Two Penn Plaza, New York, US-NY, 10121, US
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.: 55826T102
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: 2,462,309
(b)	Percent of class: 8.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,161,632
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,462,309
	(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. None of Ariel Investments, LLC's clients have 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

What stake does Ariel Investments report in SPHR?

Ariel Investments, LLC reports beneficial ownership of 2,462,309 shares of Sphere Entertainment Co Class A common stock, equal to 8.6% of the class, as disclosed in the Schedule 13G/A amendment.

How much voting power does Ariel Investments hold in SPHR?

The filing shows Ariel Investments has sole voting power over 2,161,632 shares. Shared voting power is reported as 0, per the ownership table in the Schedule 13G/A amendment.

Does any single Ariel client hold more than 5% of SPHR shares?

No. The Schedule 13G/A states Ariel's adviser clients have rights to dividends/proceeds, and that none of those clients have an economic interest exceeding 5% of the reported securities.

What date and signature are on the Schedule 13G/A amendment?

The amendment is signed by James Prescott, Vice President, Compliance, and bears the signature date of 05/14/2026, as shown on the filing excerpt.

What does 'sole dispositive power' mean in this filing?

It indicates the filer has the authority to direct disposition of the securities; here Ariel Investments reports sole dispositive power for 2,462,309 shares of Class A common stock.