StubHub Holdings (STUB) shows 7.4% stake reported by PointState

Rhea-AI Filing Summary

StubHub Holdings, Inc. discloses that investment firm PointState Capital LP and related entities have filed an amended Schedule 13G reporting a significant ownership stake in its Class A common stock.

PointState Capital LP, PointState Holdings LLC and PointState Capital GP LLC each report beneficial ownership of 24,823,335 StubHub Class A shares, representing 7.2% of the class, with shared voting and dispositive power over those shares.

Individual filer Zachary J. Schreiber reports beneficial ownership of 25,527,995 shares in total, or 7.4% of the class, including 704,660 shares over which he has sole voting and dispositive power. The filing states that the securities were not acquired and are not held for the purpose of changing or influencing control of StubHub.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

StubHub Holdings, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.001 per share

(Title of Class of Securities)

86384P109

(CUSIP Number)

11/14/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 86384P109

1

Names of Reporting Persons

PointState Capital LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 24,823,335.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,823,335.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,823,335.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.2 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP No. 86384P109

1

Names of Reporting Persons

PointState Holdings LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 24,823,335.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,823,335.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,823,335.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 86384P109

1

Names of Reporting Persons

PointState Capital GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 24,823,335.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 24,823,335.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

24,823,335.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.2 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 86384P109

1

Names of Reporting Persons

Zachary J. Schreiber

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 704,660.00
6	Shared Voting Power 24,823,335.00
7	Sole Dispositive Power 704,660.00
8	Shared Dispositive Power 24,823,335.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

25,527,995.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: StubHub Holdings, Inc.
(b)	Address of issuer's principal executive offices: 175 Greenwich Street, 59th Floor, New York, New York, 10007
Item 2.
(a)	Name of person filing: PointState Capital LP
(b)	Address or principal business office or, if none, residence: The address of the business office of each of the Reporting Persons is care of PointState Capital LP, 9 West 57th Street, 37th Floor, New York, NY 10019.
(c)	Citizenship: Delaware
(d)	Title of class of securities: Class A Common Stock, par value $0.001 per share
(e)	CUSIP No.: 86384P109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(b)	Percent of class: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
	(ii) Shared power to vote or to direct the vote: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: The applicable information on the cover pages to this Schedule 13G is hereby incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. The information in Items 2 and 4 is hereby incorporated by reference.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

PointState Capital LP

Signature:	/s/ Zachary J. Schreiber
Name/Title:	Zachary J. Schreiber, Managing Member
Date:	01/09/2026

PointState Holdings LLC

Signature:	/s/ Zachary J. Schreiber
Name/Title:	Zachary J. Schreiber, Managing Member of PointState Holdings LLC, the general partner of SteelMill Master Fund LP
Date:	01/09/2026

PointState Capital GP LLC

Signature:	/s/ Zachary J. Schreiber
Name/Title:	Managing Member of PointState Holdings LLC and PointState Capital GP LLC, the general partner of PointState Capital LP
Date:	01/09/2026

Zachary J. Schreiber

Signature:	/s/ Zachary J. Schreiber
Name/Title:	Zachary J. Schreiber
Date:	01/09/2026

FAQ

What percentage of StubHub (STUB) does PointState Capital report owning?

PointState Capital LP, PointState Holdings LLC and PointState Capital GP LLC each report beneficial ownership of 24,823,335 StubHub Class A shares, representing 7.2% of the outstanding class.

How many StubHub shares does Zachary J. Schreiber report beneficially owning?

Zachary J. Schreiber reports beneficial ownership of 25,527,995 StubHub Class A shares in total, which represents 7.4% of the class.

What voting power does PointState Capital have over StubHub (STUB) shares?

PointState Capital LP, PointState Holdings LLC and PointState Capital GP LLC each report 0 shares with sole voting power and 24,823,335 shares with shared voting power.

What voting and dispositive power does Zachary J. Schreiber report for StubHub shares?

Zachary J. Schreiber reports sole voting and dispositive power over 704,660 shares and shared voting and dispositive power over 24,823,335 StubHub Class A shares.

What type of filing did PointState make regarding StubHub (STUB)?

The stake is reported on an Amendment No. 1 to Schedule 13G, a beneficial ownership report used by certain investors who do not seek to change or influence control of the issuer.

Does the PointState group state any intent to influence control of StubHub?

The certification states that the securities were not acquired and are not held for the purpose of, or with the effect of, changing or influencing the control of StubHub Holdings, Inc.

What is the date of the StubHub ownership event reported in the Schedule 13G/A?

The date of the event that triggered this beneficial ownership report is listed as 11/14/2025.