SCHEDULE 13G 0002086204 XXXXXXXX LIVE Class A Common Stock, par value $0.001 per share 09/30/2025 0001337634 StubHub Holdings, Inc. 86384P109 175 Greenwich Street, 59th Floor New York NY 10007 Rule 13d-1(d) Madrone SHV Partners, LLC b DE 0.00 53279250.00 0.00 53279250.00 53279250.00 15.5 OO Madrone Partners, L.P. b DE 0.00 21111915.00 0.00 21111915.00 21111915.00 6.2 PN Madrone Opportunity Fund, L.P. b DE 0.00 1388890.00 0.00 1388890.00 1388890.00 0.4 PN Madrone Capital Partners, LLC b DE 0.00 75780055.00 0.00 75780055.00 75780055.00 22.1 OO Gregory Boyd Penner b X1 0.00 75780055.00 0.00 75780055.00 75780055.00 22.1 IN Jameson J. McJunkin b X1 0.00 75780055.00 0.00 75780055.00 75780055.00 22.1 IN Thomas Patterson b X1 12765.00 75780055.00 12765.00 75780055.00 75792820.00 22.1 IN StubHub Holdings, Inc. 175 Greenwich Street, 59th Floor, New York, NY, 10007. The names of the persons filing this report (collectively, the "Reporting Persons") are: Madrone SHV Partners, LLC ("Madrone SHV") Madrone Partners, L.P. ("Madrone Partners") Madrone Opportunity Fund, L.P. ("Madrone Opportunity") Madrone Capital Partners, LLC ("Madrone Capital") Gregory Penner ("Penner") Jameson McJunkin ("McJunkin") Thomas Patterson ("Patterson") The Reporting Persons expressly disclaim status as a "group" for purposes of this Schedule 13G. PO Box #6476 Denver, CO 80206 Madrone SHV Delaware Madrone Partners Delaware Madrone Opportunity Delaware Madrone Capital Delaware Penner United States McJunkin United States Patterson United States Y Row 9 of each Reporting Person's cover page to this Schedule 13G sets forth the aggregate number of securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. The Reporting Persons' ownership of the Issuer's securities consists of (i) 53,279,250 shares of Class A common stock held directly by Madrone SHV, (ii) 21,111,915 shares of Class A common stock held directly by Madrone Partners, (iii) 1,388,890 shares of Class A common stock held directly by Madrone Opportunity, and (iv) 12,765 shares of Class A common stock issuable upon the settlement of vested restricted stock units held by Patterson. Madrone Capital is the manager of Madrone SHV and the general partner of Madrone Partners and Madrone Opportunity and shares voting and investment authority over the shares held by each of Madrone SHV, Madrone Partners and Madrone Opportunity. Penner, McJunkin and Patterson are the managing members of Madrone Capital and share voting and investment authority over the shares held by each of Madrone SHV, Madrone Partners and Madrone Opportunity. Row 11 of each Reporting Person's cover page to this Schedule 13G sets forth the percentages of the securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. The percentage set forth in each row 11 is based upon 343,063,283 shares of the Issuer's Class A common stock outstanding as of September 18, 2025, as reported in the Issuer's prospectus dated September 16, 2025 as filed with the Securities and Exchange Commission (the "SEC") on September 17, 2025. Row 5 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. Row 6 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to vote or to direct the vote of securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. Row 7 of each Reporting Person's cover page to this Schedule 13G sets forth the sole power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. Row 8 of each Reporting Person's cover page to this Schedule 13G sets forth the shared power to dispose or to direct the disposition of securities of the Issuer beneficially owned by such Reporting Person as of September 30, 2025 and is incorporated by reference. Y Y Y Y Y Y Exhibit 99.1 Joint Filing Agreement Madrone SHV Partners, LLC /s/ Thomas Patterson 11/14/2025 Madrone Partners, L.P. /s/ Thomas Patterson 11/14/2025 Madrone Opportunity Fund, L.P. /s/ Thomas Patterson 11/14/2025 Madrone Capital Partners, LLC /s/ Thomas Patterson 11/14/2025 Gregory Boyd Penner /s/ Gregory Penner 11/14/2025 Jameson J. McJunkin /s/ James McJunkin 11/14/2025 Thomas Patterson /s/ Thomas Patterson 11/14/2025