On November 12, 2025, BARINGTON Companies Management reported a few new acquisitions, but this sports-related purchase may draw interest.
What happened
According to a Securities and Exchange Commission (SEC) filing dated November 12, 2025, BARINGTON Companies Management initiated a new stake in Madison Square Garden Sports (MSGS +0.54%) during the third quarter, acquiring 15,000 shares. The position is valued at approximately $3.4 million based on reported quarter-end figures and marks the fund's first reported holding in the sports and entertainment company.
What else to know
- This is a new position for the fund, representing 2.6% of its 13F assets under management as of September 30, 2025
Top holdings after the filing:
- NYSE: M: $23.31 million (17.5% of AUM)
- NASDAQ: MATW: $22.16 million (16.6% of AUM)
- NYSE: VSCO: $21.71 million (16.3% of AUM)
- NYSE: HBI: $16.49 million (12.4% of AUM)
- NASDAQ: EML: $14.78 million (11.1% of AUM)
- As of November 12, 2025, shares were priced at $220.75, down 1.9% over the past year, underperforming the S&P 500 by 16.5 percentage points
Company overview
| Metric | Value |
|---|---|
| Price (as of market close November 12, 2025) | $220.75 |
| Market capitalization | $5.3 billion |
| Revenue (TTM) | $1.03 billion |
| Net income (TTM) | ($23.69 million) |
Company snapshot
- Owns and operates professional sports franchises, including the New York Knicks (NBA) and New York Rangers (NHL).
- Manages development league teams and esports franchises, such as Knicks Gaming and Counter Logic Gaming.
- Serves sports fans, media partners, and sponsors through live events, media rights, and merchandising.
Madison Square Garden Sports is a leading owner and operator of iconic sports franchises, with a diversified portfolio spanning major league basketball, hockey, and esports. Its business model centers on leveraging team brands and fan engagement to generate recurring revenue from media, sponsorship, and live event attendance.
Foolish take
Madison Square Garden Sports was one of five new stocks BARINGTON acquired in the third quarter of 2025. This is notable considering the portfolio only holds 12 stocks, most of which revolve around consumer-related names.
As the name implies, Madison Square Garden Sports owns the NBA’s New York Knicks and the NHL franchise in NYC, the New York Rangers, both of which play in the famed Madison Square Garden Arena.
BARINGTON also buys this stock as the company faces a notable struggle. In the first quarter of fiscal 2026 (ended Sept. 30), revenue fell by 26% yearly to $39 million amid lower league distributions. That may partially explain why the stock performance has been flat over the last year, even as the stock made gains over the last five years.
NYSE: MSGS
Key Data Points
Considering those challenges, it is not clear why BARINGTON chose to add this stock in Q3, though at just 2.6% of the portfolio, it is one of the fund’s smaller positions.
Still, such sports franchises are scarce and thus tend to rise in value over time. That could mean BARINGTON makes gains from this investment, assuming it stays the course in the entertainment stock.
Glossary
13F assets under management (AUM): The total value of securities a fund manager reports to the Securities and Exchange Commission (SEC) on Form 13F.
Position: The amount of a particular security or investment held by an investor or fund.
Stake: The ownership interest or share in a company or asset.
Quarter-end figures: Financial data reported as of the last day of a fiscal quarter.
Top holdings: The largest investments in a fund's portfolio, ranked by value.
Esports: Organized, competitive video gaming, often involving professional teams and tournaments.
TTM: The 12-month period ending with the most recent quarterly report.
Underperforming: Delivering returns lower than a benchmark or market index over a specific period.
