Core Insights - Brown University disclosed a new equity position in StubHub, owning 2,062,425 shares valued at $34.73 million, which constitutes 20.54% of its $169.07 million U.S. equity holdings as of September 30, 2025 [1][2][9] Company Overview - StubHub is a leading technology company specializing in secondary ticket sales for live events, connecting buyers and sellers globally [5][8] - The company reported revenue of $1.80 billion and a net loss of $54.83 million for the twelve months ended June 30, 2025 [2][3] - As of November 4, 2025, StubHub's stock price was $17.12, with a market capitalization of $6.67 billion [3] Financial Performance - StubHub's revenue for the first half of 2025 reached $827.9 million, an increase from $803.5 million in 2024, indicating consistent revenue growth since 2022 [10] - The company reported a net loss of $76 million in the first half of 2025, compared to a loss of $24 million in the prior year, suggesting that losses are increasing [10] - StubHub had $2.4 billion in debt at the end of Q2, with $1.2 billion in cash and equivalents, highlighting a significant debt load [11] Investment Implications - Brown University's investment in StubHub is notable as it is one of only eight holdings in its portfolio, indicating a selective investment strategy [6] - The purchase marks Brown's initial stake in StubHub following its IPO on September 16, 2025, and has made StubHub the university's third-largest holding [9]