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SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* MADRONE CAPITAL PARTNERS, LLC (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 09/16/2025	3. Issuer Name and Ticker or Trading Symbol StubHub Holdings, Inc. [ STUB ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	21,111,915	I	Held by Madrone Partners, L.P.(1)
Class A Common Stock	53,279,250	I	Held by Madrone SHV Partners, LLC(1)
Class A Common Stock	1,388,890	I	Held by Madrone Opportunity Fund, L.P.(1)
Series L Preferred Stock	38,333	I	Held by Madrone Partners, L.P.(1)
Series L Preferred Stock	12,778	I	Held by Madrone Opportunity Fund, L.P.(1)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* MADRONE CAPITAL PARTNERS, LLC (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Madrone Partners, L.P. (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Madrone SHV Partners, LLC (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Madrone Opportunity Fund, L.P. (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* McJunkin Jameson J (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Penner Gregory Boyd (Last) (First) (Middle) PO BOX #6476 (Street) DENVER CO 80206 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Madrone Capital Partners, LLC ("Madrone Capital") is the general partner of Madrone Partners L.P. ("Madrone Partners") and Madrone Opportunity Fund, L.P. ("Madrone Opportunity") and the manager of Madrone SHV Partners, LLC ("Madrone SHV"). Thomas Patterson, Jameson McJunkin and Gregory Penner are the managing members of Madrone Capital and each may be deemed to have shared voting and investment power with respect to the shares held by each of Madrone Partners, Madrone SHV and Madrone Opportunity and, as a result, may be deemed to have beneficial ownership of such shares. Each of Madrone Capital, Madrone Partners, Madrone Opportunity, Madrone SHV and Messrs. McJunkin and Penner disclaim beneficial ownership of the shares reported herein, except to the extent of his or its respective pecuniary interest therein. Mr. Patterson is a director of the Issuer and files separate Section 16 filings.

	Madrone Capital Partners, LLC, By: Thomas Patterson, Manager, /s/ Thomas Patterson	09/16/2025
	Madrone Partners L.P., By: Madrone Capital Partners, LLC, its general partner, By: Thomas Patterson, Manager, /s/ Thomas Patterson	09/16/2025
	Madrone Opportunity Fund, L.P., By: Madrone Capital Partners, LLC, its general partner, By: Thomas Patterson, Manager, /s/ Thomas Patterson	09/16/2025
	Madrone SHV Partners, LLC, By: Madrone Capital Partners, LLC, its manager, By: Thomas Patterson, Manager, /s/ Thomas Patterson	09/16/2025
	/s/ Jameson McJunkin	09/16/2025
	/s/ Gregory Penner	09/16/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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