Letters by company
Sphere Entertainment Co.
4 letters discussing SPHR. Everything written about it on this site is on its ticker page.
- O'Keefe Stevens Advisory Quarterly Investor Letter Q2 2026 O'Keefe Stevens Advisory initiated Sotera Health after Warburg Pincus exited, arguing that its sterilization duopoly, regulatory barriers and normalizing capital spending can outweigh litigation concerns. The portfolio trimmed and hedged Qualcomm and Corning, retained substantial cash, and sees potential bargains outside crowded AI infrastructure trades. Q2 2026 — SHC $5.6BCALY $2.8BGLW $131BHCC $5.6B
- Ariel Investments Ariel Fund Ariel Fund added Haemonetics and RLI, citing plasma-therapy demand and RLI’s underwriting discipline, while exiting Paramount Skydance and First American on valuation and alternative opportunities. The portfolio maintains conviction in MSGE’s irreplaceable venues and Sphere’s expansion, while viewing Carlyle’s fundraising and dry powder as support for future earnings. Quarter Ended June 30, 2026 +13.6% CG $18BCLB $580MHAE $4.9BLESL $6.1M
- O'Keefe Stevens Advisory Quarterly Investor Letter Q1 2026 O'Keefe Stevens Advisory built cash after selling Alibaba, Fannie Mae common, Mercedes-Benz and Tri Pointe Homes, while initiating Baxter and adding to Perrigo and Weyerhaeuser. The firm argues that elevated AI-related spending and stretched valuations warrant selective underwriting, with Baxter’s deleveraging and Perrigo’s restructuring offering security-specific catalysts. Q1 2026 — BAX $14BPRGO $1.9BBABA $290BCALY $2.8B
- O'Keefe Stevens Advisory Quarterly Investor Letter Q4 2025 O'Keefe Stevens sold Fannie Mae common shares after conservatorship-exit expectations changed the risk-reward profile, while retaining preferred securities tied to eventual privatization. The firm added to Callaway after its Topgolf stake sale, trimmed Sphere despite its expanding venue and content opportunity, and sees a lumber-market recovery supporting GreenFirst. Q4 2025 — FNMA $7.3BICLTF $35MMODG delistedSPHR $5.6B
