Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN 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 * WestCap Management, LLC 2. Issuer Name and Ticker or Trading Symbol StubHub Holdings, Inc. [STUB] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 590 PACIFIC AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 03/17/2026 (Street) SAN FRANCISCO, CA 94133 4. If Amendment, Date 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 (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 03/17/2026 C 6,256,893 A $23.5 37,991,583 I See footnotes(1)(3)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Series O Preferred Stock, par value $0.001 per share

$23.5

03/17/2026

C

133,670

(4)

(5)

Class A Common Stock

6,256,893

$ 0

0

I

See footnotes(2)(3)

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
WestCap Management, LLC 590 PACIFIC AVENUE SAN FRANCISCO, CA 94133		X
Tosi Laurence A 590 PACIFIC AVE. SAN FRANCISCO, CA 94133		X
WestCap Stub Holdco 2024, LLC 590 PACIFIC AVENUE SAN FRANCISCO, CA 94133		X
WestCap StubHub Opportunity Fund Preferred, LLC 590 PACIFIC AVE SAN FRANCISCO, CA 94133		X

Signatures

WestCap Management, LLC, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi		03/19/2026
**Signature of Reporting Person		Date
Laurence A. Tosi /s/ Laurence A. Tosi		03/19/2026
**Signature of Reporting Person		Date
WestCap Stub Holdco 2024, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi		03/19/2026
**Signature of Reporting Person		Date
WestCap StubHub Opportunity Fund Preferred, LLC, By: WestCap Management, LLC, its Manager, By: Laurence A. Tosi, its Managing Member /s/ Laurence A. Tosi		03/19/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(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).
(1)	The securities reported on this line are held directly by WestCap Stub Holdco 2024, LLC ("WestCap Stub") and WestCap StubHub Opportunity Fund Preferred, LLC ("WestCap StubHub").
(2)	The securities reported on this line were held directly by WestCap StubHub.
(3)	WestCap Management, LLC ("WestCap") 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.
(4)	The Series O Preferred Stock automatically converted into Class A Common Stock, par value $0.001 per share ("Class A Common Stock") on March 17, 2026, the date that is 180 days after the closing on September 18, 2025 of the issuer's initial public offering.
(5)	The Series O Preferred Stock had no stated maturity.

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