Is StubHub Stock a Buy After Brown University Bought Over 2 Million Shares?
Key Points
Brown University bought 2,062,425 shares of StubHub, a net position change estimated at $34.73 million.
The new holding now ranks as Brown University's 3rd-largest equity position.
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What happened
According to a filing with the Securities and Exchange Commission dated November 5, 2025, Brown University disclosed a new equity position in StubHub (NYSE:STUB). The fund reported ownership of 2,062,425 shares, translating to a quarter-end value of $34.73 million.
This new position represents a significant addition, accounting for 20.54% of its $169.07 million in reportable U.S. equity holdings as of September 30, 2025.
What else to know
This new position in StubHub comprises 20.54% of Brown University's 13F assets under management after the filing.
Top five holdings by value post-filing:
- OBDC: $55.53 million (32.8% of AUM as of September 30, 2025)
- OWL: $43.51 million (25.7% of AUM as of September 30, 2025)
- STUB: $34.73 million (20.5% of AUM as of September 30, 2025)
- GLD: $14.04 million (8.3% of AUM as of September 30, 2025)
- IBIT: $13.81 million (8.17% of AUM as of September 30, 2025)
StubHub reported revenue of $1.80 billion and a net loss of $54.83 million for the twelve months ended June 30, 2025.
The company’s price-to-sales ratio is 3.40, and it is priced 38.76% below its 52-week high as of November 4, 2025.
Company Overview
| Metric | Value |
|---|---|
| Price (as of market close 2025-11-04) | $17.12 |
| Market Capitalization | $6.67 billion |
| Revenue (TTM) | $1.80 billion |
| Net Income (TTM) | ($54.83 million) |
Company Snapshot
- StubHub operates a global online marketplace for secondary ticket sales, offering tickets for sports, concerts, theater, and other live events.
- The company generates revenue primarily through transaction fees collected from both buyers and sellers on its platform.
- Main customers include individuals and organizations seeking to buy or resell event tickets, with a presence in over 200 countries.
StubHub is a leading technology company specializing in secondary ticket sales for live events. Its digital marketplace connects buyers and sellers around the world. The company's competitive edge is its global reach and established brand in ticket resale.
Foolish take
Ivy League school Brown University's decision to buy shares in StubHub merits attention for several reasons. The stock is one of the university's eight holdings, meaning it doesn't invest in many stocks, yet it picked StubHub to add to its very select investments.
In addition, the purchase is Brown's initial stake in StubHub, which had its IPO on Sept. 16. And the buy was substantial, catapulting StubHub to Brown's third largest holding. This suggests Brown sees upside in the newly-public company.
Because StubHub's IPO was so recent, not much insight is available to assess its performance over time. The company has grown revenue every year since 2022, and is on track to do so again in 2025. Through the first half of this year, sales reached $827.9 million, up from 803.5 million in 2024.
However, StubHub isn't profitable. In the first half of 2025, StubHub's net loss totaled $76 million compared to a loss of $24 million in the prior year. This indicates its losses are growing.
The company also had $2.4 billion in debt at the end of Q2 compared to $1.2 billion in cash and equivalents. The debt is significant, but so is its cash pile.
StubHub stock is down substantially from the $27.89 reached the day after its IPO. But before deciding to buy, it's worth waiting for the company to report its third quarter results, which will happen on Nov. 13.
Glossary
13F assets under management: The total value of U.S. equity holdings reported by institutional investment managers in SEC Form 13F filings.
Equity position: Ownership of shares in a company, representing a stake in its equity.
Net position change: The difference in the number or value of shares held in a security after a trade or series of trades.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Forward price-to-earnings ratio: A stock valuation measure using forecasted earnings for the next fiscal year.
52-week high: The highest price at which a stock has priced during the past year.
Transaction fees: Charges collected by a platform or broker for facilitating the buying or selling of assets.
Secondary ticket sales: The resale of event tickets after their original purchase, often through online marketplaces.
Alpha: A measure of an investment's performance compared to a benchmark, indicating value added or lost.
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Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends iShares Bitcoin Trust. The Motley Fool has a disclosure policy.
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