Sphere Entertainment Trims Stake as Investors Adjust Holdings

Got story updates? Submit your updates here. ›

Brevan Howard Capital Management LP has trimmed its stake in Sphere Entertainment Co. (NYSE:SPHR) by 57.8% during the third quarter, according to a recent SEC filing. The fund now owns 46,961 shares of the company's stock, down from 111,162 shares previously. Sphere Entertainment is a publicly traded company focused on developing large-scale immersive entertainment venues, with its flagship project in Las Vegas featuring cutting-edge audiovisual technologies.

Why it matters

The reduction in Brevan Howard's position in Sphere Entertainment reflects broader adjustments in the investment landscape, as institutional investors reevaluate their holdings amid market conditions. Sphere Entertainment's innovative approach to entertainment venues has generated significant interest, but the company's long-term success will depend on its ability to execute on its ambitious plans and navigate the evolving industry dynamics.

The details

According to the SEC filing, Brevan Howard Capital Management LP sold 64,201 shares of Sphere Entertainment during the third quarter, reducing its total stake to 46,961 shares. The fund now owns approximately 0.13% of the company's outstanding shares, down from 0.31% previously. Sphere Entertainment's stock has seen significant volatility in recent months, with the share price ranging from a 52-week low of $23.89 to a high of $121.93.

• Brevan Howard Capital Management LP trimmed its Sphere Entertainment position during the third quarter of 2026.