<SEC-DOCUMENT>0000902664-26-001694.txt : 20260319
<SEC-HEADER>0000902664-26-001694.hdr.sgml : 20260319
<ACCEPTANCE-DATETIME>20260319123126
ACCESSION NUMBER:		0000902664-26-001694
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20260317
FILED AS OF DATE:		20260319
DATE AS OF CHANGE:		20260319

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Tosi Laurence A
		CENTRAL INDEX KEY:			0001307496
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42846
		FILM NUMBER:		26773274

	MAIL ADDRESS:	
		STREET 1:		590 PACIFIC AVE.
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WestCap Management, LLC
		CENTRAL INDEX KEY:			0001838470
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42846
		FILM NUMBER:		26773275

	BUSINESS ADDRESS:	
		STREET 1:		590 PACIFIC AVENUE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133
		BUSINESS PHONE:		(646) 645-4356

	MAIL ADDRESS:	
		STREET 1:		590 PACIFIC AVENUE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WestCap Stub Holdco 2024, LLC
		CENTRAL INDEX KEY:			0002084496
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42846
		FILM NUMBER:		26773273

	BUSINESS ADDRESS:	
		STREET 1:		590 PACIFIC AVENUE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133
		BUSINESS PHONE:		646-645-4356

	MAIL ADDRESS:	
		STREET 1:		590 PACIFIC AVENUE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WestCap StubHub Opportunity Fund Preferred, LLC
		CENTRAL INDEX KEY:			0002084123
		ORGANIZATION NAME:           	
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42846
		FILM NUMBER:		26773272

	BUSINESS ADDRESS:	
		STREET 1:		590 PACIFIC AVE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133
		BUSINESS PHONE:		646-645-4356

	MAIL ADDRESS:	
		STREET 1:		590 PACIFIC AVE
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94133

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			StubHub Holdings, Inc.
		CENTRAL INDEX KEY:			0001337634
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		ORGANIZATION NAME:           	07 Trade & Services
		EIN:				202082924
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		175 GREENWICH STREET
		STREET 2:		59TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007
		BUSINESS PHONE:		(888) 977-5364

	MAIL ADDRESS:	
		STREET 1:		175 GREENWICH STREET
		STREET 2:		59TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10007

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Pugnacious Endeavors Inc
		DATE OF NAME CHANGE:	20050831
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0609</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2026-03-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001337634</issuerCik>
        <issuerName>StubHub Holdings, Inc.</issuerName>
        <issuerTradingSymbol>STUB</issuerTradingSymbol>
        <issuerForeignTradingSymbol></issuerForeignTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001838470</rptOwnerCik>
            <rptOwnerName>WestCap Management, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 PACIFIC AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94133</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001307496</rptOwnerCik>
            <rptOwnerName>Tosi Laurence A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 PACIFIC AVE.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94133</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002084496</rptOwnerCik>
            <rptOwnerName>WestCap Stub Holdco 2024, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 PACIFIC AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94133</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002084123</rptOwnerCik>
            <rptOwnerName>WestCap StubHub Opportunity Fund Preferred, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>590 PACIFIC AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>SAN FRANCISCO</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>94133</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2026-03-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>6256893</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>23.50</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>37991583</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series O Preferred Stock, par value $0.001 per share</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>23.50</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2026-03-17</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>133670</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6256893</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The securities reported on this line are held directly by WestCap Stub Holdco 2024, LLC (&quot;WestCap Stub&quot;) and WestCap StubHub Opportunity Fund Preferred, LLC (&quot;WestCap StubHub&quot;).</footnote>
        <footnote id="F2">The securities reported on this line were held directly by WestCap StubHub.</footnote>
        <footnote id="F3">WestCap Management, LLC (&quot;WestCap&quot;) is the managing member of WestCap Stub and WestCap StubHub. Laurence A. Tosi may be deemed to hold voting and investment control over the shares held by WestCap Stub and WestCap StubHub. Each Reporting Person expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein, if any.</footnote>
        <footnote id="F4">The Series O Preferred Stock automatically converted into Class A Common Stock, par value $0.001 per share (&quot;Class A Common Stock&quot;) on March 17, 2026, the date that is 180 days after the closing on September 18, 2025 of the issuer's initial public offering.</footnote>
        <footnote id="F5">The Series O Preferred Stock had no stated maturity.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi</signatureName>
        <signatureDate>2026-03-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Laurence A. Tosi /s/ Laurence A. Tosi</signatureName>
        <signatureDate>2026-03-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>WestCap Stub Holdco 2024, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi</signatureName>
        <signatureDate>2026-03-19</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>WestCap StubHub Opportunity Fund Preferred, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi</signatureName>
        <signatureDate>2026-03-19</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
