Reinhart Partners Bets on Sports Growth With Madison Square Garden Sports Purchase

On February 10, 2026, Reinhart Partners disclosed a new position in Madison Square Garden Sports Corp. (NYSE:MSGS), acquiring 214,891 shares in an estimated $55.59 million trade based on quarterly average pricing.

What Happened

According to an SEC filing dated February 10, 2026, Reinhart Partners initiated a new position in Madison Square Garden Sports Corp., purchasing 214,891 shares. The estimated transaction value was $55.59 million, calculated using the average price during the quarter. The fund’s quarter-end stake in MSGS was valued at $55.59 million, with the net position change reflecting both purchase volume and share price fluctuation in the period.

What Else to Know

This was a new position for the fund, representing 1.66% of its 13F reportable assets under management.

Top five holdings after the filing:

• NASDAQ: FCNCA: $167.04 million (5.0% of AUM)
• NASDAQ: SIMO: $145.85 million (4.4% of AUM)
• NYSE: YETI: $134.08 million (4.0% of AUM)
• NASDAQ: IDCC: $132.97 million (4.0% of AUM)
• NASDAQ: ACLS: $127.73 million (3.8% of AUM)

As of February 10, 2026, shares of MSGS were priced at $279.76, up 34.3% over the past year, outperforming the S&P 500 by 19.92 percentage points.

Company Overview

Metric	Value
Market Capitalization	$6.73 billion
Revenue (TTM)	$1.07 billion
Net Income (TTM)	($16.56 million)
Price (as of market close February 10, 2026)	$279.76

Company Snapshot

• Operates professional sports franchises, including the New York Knicks (NBA), New York Rangers (NHL), development league teams, and esports organizations
• Owns and manages sports assets, generating revenue from media rights, sponsorships, and merchandising
• Serves sports fans, media partners, and corporate sponsors, with a focus on the New York metropolitan area and global sports audiences

Madison Square Garden Sports Corp. is a leading owner and operator of major professional sports franchises, leveraging iconic brands such as the New York Knicks and New York Rangers. The company capitalizes on its strong market presence and diversified sports assets to drive revenue from multiple streams, including media, sponsorship, and merchandising. Its strategic focus on marquee teams and premier sports entertainment positions it as a key player in the U.S. sports and entertainment industry.

What This Transaction Means For Investors

Recently, Reinhart Partners, a Wisconsin-based investment management firm, acquired approximately 215,000 shares of Madison Square Garden Sports Corp. (MSGS) valued at around $55.6 million. Here’s what it means for investors.

To begin, MSGS stock has performed well recently. Over the last five years, shares of MSGS have advanced by 63%, with much of that gain coming in the last year alone. MSGS operates legendary sports franchises, including the New York Rangers and New York Knicks.

Across sports leagues like the National Hockey League (NHL) and National Basketball Association (NBA), franchise values are soaring. In addition, video streaming services and advertisers are desperate to land exclusive rights to must-watch live events, with sports being the most sought-after category.

Therefore, organizations like MSGS (and their associated leagues) now find themselves in a powerful position to negotiate lucrative media rights deals with both local, national, and even international distributors. All that said, MSGS still remains a relatively small company (market cap of around $6 billion). Moreover, it remains stubbornly unprofitable, with a net income of ($16.6 million) over the last 12 months.

To close, investors may want to tread with caution. While MSGS stock does have great potential, its lack of consistent profitability could hold it back. Those interested in sports stocks would be wise to consider this list of best sports stocks to buy in 2026.

Jake Lerch has no position in any of the stocks mentioned. The Motley Fool recommends Yeti. The Motley Fool has a disclosure policy.