Bank of Nova Scotia discloses 3.06% SPHR stake in Class A shares

Rhea-AI Filing Summary

Bank of Nova Scotia has filed an amended ownership report showing a significant but minority stake in Sphere Entertainment Co.. As of 12/31/2025, it beneficially owned 894,262 shares of Sphere’s Class A common stock, representing 3.06% of that share class. The bank reports sole voting and sole dispositive power over all of these shares, with no shared voting or investment authority. The filing confirms that Bank of Nova Scotia holds less than 5% of the class and is reporting in its capacity as a parent holding company under the applicable ownership rules.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Sphere Entertainment Co.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

55826T102

(CUSIP Number)

12/31/2025

(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)

SCHEDULE 13G

CUSIP No. 55826T102

1

Names of Reporting Persons

BANK OF NOVA SCOTIA

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 894,262.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 894,262.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

894,262.00

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)

3.06 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Sphere Entertainment Co.
(b)	Address of issuer's principal executive offices: TWO PENNSYLVANIA PLAZA, NEW YORK, NEW YORK 10121
Item 2.
(a)	Name of person filing: BANK OF NOVA SCOTIA
(b)	Address or principal business office or, if none, residence: 40 TEMPERANCE STREET TORONTO, Ontario, Canada M5H 0B4
(c)	Citizenship: BANK OF NOVA SCOTIA - CANADA (FEDERAL LEVEL)
(d)	Title of class of securities: Class A Common Stock
(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).
	A parent holding company, in accordance with 13d-1(b)(i)(ii)(g)
Item 4.	Ownership
(a)	Amount beneficially owned: 894,262
(b)	Percent of class: 3.06 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: BANK OF NOVA SCOTIA - 894,262
	(ii) Shared power to vote or to direct the vote: BANK OF NOVA SCOTIA - 0
	(iii) Sole power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 894,262
	(iv) Shared power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
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 foreign regulatory scheme applicable to The Bank of Nova Scotia is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

BANK OF NOVA SCOTIA

Signature:	Raj Sachdeva
Name/Title:	Vice President, Head of GBM&T, Compliance Canada
Date:	01/27/2026

FAQ

How many Sphere Entertainment Co. (SPHR) shares does Bank of Nova Scotia own?

The filing states that Bank of Nova Scotia beneficially owns 894,262 shares of Sphere Entertainment Co. Class A common stock.

What percentage of Sphere Entertainment Co. Class A stock is held by Bank of Nova Scotia?

Bank of Nova Scotia reports beneficial ownership of 3.06% of Sphere Entertainment Co.’s Class A common stock.

Does Bank of Nova Scotia have sole voting power over its SPHR shares?

Yes. The bank reports sole voting power over 894,262 shares and no shared voting power.

What dispositive power does Bank of Nova Scotia report over its Sphere Entertainment Co. shares?

The filing lists sole dispositive power over 894,262 shares and no shared dispositive power.

Is Bank of Nova Scotia a large (over 5%) shareholder of Sphere Entertainment Co.?

No. The filing confirms beneficial ownership of 3.06% of the Class A common stock, which is 5 percent or less of the class.

In what capacity is Bank of Nova Scotia filing this ownership report on SPHR?

Bank of Nova Scotia is filing as a parent holding company or control person under the applicable ownership classification rules.