Liberty Live Holdings, Inc. (LLYVA)
Nasdaq · Services-Amusement & Recreation Services · Services · CIK 2078416 · fiscal year ends in Dec
Closing price $97.13 on 28 Oct 2026; 52-week range $74.85 to $104.99.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $407.0M
- Net income, last twelve months
- -$440.0M
- Gross margin
- 20.2%
- Operating margin
- -12.1%
- Net margin
- -108.1%
- Market value
- $9.0B
- Cash
- $523.3M
- Debt
- $2.1B
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $382.0M | -$51.7M | -$87.0M | -$0.95 | – | 10-K filed 26 Feb 2026 |
| FY2024 | 31 Dec 2024 | $340.5M | -$116.3M | -$112.8M | -$1.23 | – | 10-K filed 26 Feb 2026 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $147.1M | -$268.7M | -$2.92 |
| Q1 FY2026 | 31 Mar 2026 | $63.6M | -$294.1M | -$3.20 |
| Q4 FY2025 | 31 Dec 2025 | $134.6M | $178.6M | – |
| Q3 FY2025 | 30 Sep 2025 | $61.7M | -$55.7M | – |
| Q2 FY2025 | 30 Jun 2025 | $138.6M | -$180.3M | -$1.96 |
| Q1 FY2025 | 31 Mar 2025 | $47.1M | -$29.5M | -$0.32 |
| Q3 FY2024 | 30 Sep 2024 | $64.2M | $15.3M | – |
Revenue by segment
As the company reports it in the segment note of its annual report.
By region, FY2025
| Segment | Revenue | Share |
|---|---|---|
| United States | $336.0M | 88.0% |
| Other countries | $46.0M | 12.0% |
Company events
The newest 8-K filings of 11 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 2 Sep 2026 | 8-K | Leadership change | 5.02 |
| 13 May 2026 | 8-K | Shareholder vote | 5.07 |
| 23 Mar 2026 | 8-K | Material agreement, New debt | 1.01, 2.03, 9.01 |
| 13 Mar 2026 | 8-K | Other events | 8.01, 9.01 |
| 9 Mar 2026 | 8-K | Investor update | 7.01, 9.01 |
| 6 Mar 2026 | 8-K | Leadership change | 5.02 |
| 26 Jan 2026 | 8-K | Investor update | 7.01, 9.01 |
| 23 Dec 2025 | 8-K | Bylaws or fiscal year change | 5.03, 9.01 |
| 15 Dec 2025 | 8-K | Deal completed, Leadership change, Material agreement, Shareholder rights change, Bylaws or fiscal year change, Investor update | 1.01, 2.01, 3.03, 5.02, 5.03, 7.01, 9.01 |
| 8 Dec 2025 | 8-K | Other events | 8.01, 9.01 |
| 19 Nov 2025 | 8-K | Investor update | 7.01 |
Every filing
The newest filings with the SEC of 28 held.
| Filed | Form | Period |
|---|---|---|
| 2 Sep 2026 | 8-K | 31 Aug 2026 |
| 6 Aug 2026 | 10-Q | 30 Jun 2026 |
| 13 May 2026 | 8-K | 11 May 2026 |
| 7 May 2026 | 10-Q | 31 Mar 2026 |
| 26 Mar 2026 | ARS | 31 Dec 2025 |
| 26 Mar 2026 | DEF 14A | 11 May 2026 |
| 23 Mar 2026 | 8-K | 20 Mar 2026 |
| 13 Mar 2026 | 8-K | 13 Mar 2026 |
| 9 Mar 2026 | 8-K | 6 Mar 2026 |
| 6 Mar 2026 | 8-K | 5 Mar 2026 |
| 26 Feb 2026 | 10-K | 31 Dec 2025 |
| 26 Jan 2026 | 8-K | 23 Jan 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 24 Sep 2026 | Malone John C, 10% owner | Purchase | 28,333 | $102.53 | $2.9M | 2,298,438 | 28 Sep 2026 |
| 24 Sep 2026 | Malone John C, 10% owner | Sale outside a trading plan | 29,593 | $98.16 | $2.9M | 3,186,342 | 28 Sep 2026 |
| 16 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 7,685 | $83.72 | $643.4K | 10,587,143 | 17 Feb 2026 |
| 15 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 18,125 | $84.04 | $1.5M | 10,594,828 | 17 Feb 2026 |
| 14 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 59,411 | $83.79 | $5.0M | 10,612,953 | 17 Feb 2026 |
| 13 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 30,643 | $82.78 | $2.5M | 10,672,364 | 17 Feb 2026 |
| 12 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 66,568 | $83.27 | $5.5M | 10,703,007 | 17 Feb 2026 |
| 9 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 18,689 | $82.40 | $1.5M | 10,769,575 | 17 Feb 2026 |
| 8 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 65,071 | $82.25 | $5.4M | 10,788,264 | 17 Feb 2026 |
| 7 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 44,100 | $81.22 | $3.6M | 10,853,335 | 17 Feb 2026 |
| 6 Jan 2026 | Berkshire Hathaway Inc, 10% owner | Sale outside a trading plan | 20,226 | $83.48 | $1.7M | 10,897,435 | 17 Feb 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 28 Oct 2026 | BANK OF AMERICA CORP /DE/ | 13G | 5.1% | 1.3M |
| 26 Oct 2026 | AMUNDI | 13G | 5.27% | 1.3M |
| 18 Sep 2026 | Linonia Partners Fund LP | 13G | 9.2% | 5.9M |
| 18 Sep 2026 | Linonia Partners Fund LP | 13G | 9.3% | 2.4M |
| 12 Aug 2026 | BANK OF AMERICA CORP /DE/ | 13G amended | 4.8% | 1.2M |
| 15 Jun 2026 | VA Partners I, LLC | 13D amended | 4.9% | 1.3M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 17 Feb 2026 | Warren E. Buffett | 13G | 19.5% | 5.0M |
| 12 Feb 2026 | BANK OF AMERICA CORP /DE/ | 13G | 6.6% | 1.7M |
Trades by members of the House
From each member's periodic transaction report.
| Traded | Member | Type | Amount | Disclosed |
|---|---|---|---|---|
| 16 Dec 2025 | Thomas H. Kean (NJ07) | Exchange | $1,001 - $15,000 | 16 Jan 2026 |
| 4 Aug 2023 | Thomas H. Kean (NJ07) | Exchange | $1,001 - $15,000 | 15 Sep 2023 |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 1.6M | -2.65% | 10.55 |
| 30 Sep 2026 | 1.7M | +28.19% | 13.81 |
| 15 Sep 2026 | 1.3M | -0.9% | 8.34 |
| 31 Aug 2026 | 1.3M | +1.47% | 9.31 |
| 14 Aug 2026 | 1.3M | -16.99% | 7.83 |
| 31 Jul 2026 | 1.6M | -2.65% | 12.11 |
| 15 Jul 2026 | 1.6M | +1.1% | 6.88 |
| 30 Jun 2026 | 1.6M | +44.39% | 4.35 |
Funds that hold it
From each fund's latest Form 13F.
267 funds held it at 30 Jun 2026: 94 added and 69 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| Berkshire Hathaway Inc | 4,986,588 | $504.9M | 0 |
| Linonia Partnership LP | 2,376,439 | $240.6M | -122,511 |
| Morgan Stanley | 1,277,902 | $129.4M | -52,774 |
| Amundi | 1,247,178 | $126.3M | -62,816 |
| Bank of America Corp. | 1,156,800 | $117.1M | -628,854 |
| Sculptor Capital LP | 1,100,000 | $111.4M | 0 |
| D. E. Shaw & Co., Inc. | 1,038,607 | $105.2M | +20,217 |
| Corvex Management LP | 1,005,434 | $101.8M | 0 |
| BlackRock, Inc. | 981,990 | $99.4M | +43,372 |
| Vanguard Capital Management LLC | 945,341 | $95.7M | -28,760 |
Peers
Companies in the same industry.
- Live Nation Entertainment, Inc. (LYV): revenue $26.3B, market value $40.7B
- TKO Group Holdings, Inc. (TKO): revenue $5.3B, market value $13.2B
- Sphere Entertainment Co. (SPHR): revenue $1.4B, market value $4.0B
- Atlanta Braves Holdings, Inc. (BATRA): revenue $750.0M, market value $3.5B
- Six Flags Entertainment Corporation (FUN): revenue $3.1B, market value $772.0M
- Warner Music Group Corp. (WMG): revenue $7.3B, market value –
What the company does
Liberty Live Holdings, Inc. is a holding company formed when Liberty Media Corporation split off its Liberty Live Group, a step completed on 15 December 2025. It beneficially owns approximately 69.6 million shares of Live Nation Entertainment common stock, which is about 30% of Live Nation's outstanding shares. It also owns QuintEvents, LLC ("Quint"), which sells ticket-inclusive hospitality and travel packages for major sports and entertainment events, along with interests in certain private assets. Live Nation says it connected over 805 million fans across its concert and ticketing platforms in 55 countries during 2025. Quint had approximately 300 full-time employees at the end of 2025.
How the company came to exist
Liberty Media's board authorized management in November 2024 to pursue the split-off. Liberty Media redeemed each share of its Series A, Series B and Series C Liberty Live common stock for one share of the matching series of Liberty Live Holdings stock. Liberty Media and Liberty Live now operate as separate public companies with no stock ownership in each other.
The two companies have a services agreement, an aircraft time sharing agreement, a facilities sharing agreement, a reorganization agreement and a tax sharing agreement. Under the services agreement, 74 Liberty Media corporate employees provide management services to Liberty Live for a fee. Liberty Live shares office space at Liberty Media's headquarters in Englewood, Colorado.
The Live Nation stake
Live Nation is accounted for as an equity method investment, so Liberty Live records its share of Live Nation's earnings. Under a Stockholder Agreement, Liberty Live may nominate two directors, one of whom must qualify as independent, to Live Nation's 12-member board. This right lasts as long as Liberty Live holds at least 5% of Live Nation's voting power. Liberty Live has agreed not to go above an "Applicable Percentage" of Live Nation's voting power, which starts at 35%. No other holder owns more than 10% of Live Nation's shares, based on the company's review of Live Nation's public filings.
What Live Nation does
Live Nation reports three segments, shown here as shares of its total revenue including intersegment revenue:
- Concerts, 83%. It promotes live music events, operates venues, produces festivals and manages artists. It promoted approximately 55,000 events in 2025 and ran 131 festivals. Promoters earn mainly from ticket sales and pay artists a guarantee, a share of ticket sales or event profits, or a combination. Venue operations earn from concessions, parking, premium seating and rental income. - Ticketing, 12%. Ticketmaster sells tickets for clients and keeps part of the service charge as its fee. It serves 10,500 clients and distributed 646 million tickets in 2025. Client contracts typically run three to five years. - Sponsorship & Advertising, 5%. A sales force of approximately 830 people worked with more than 1,500 sponsors in 2025. The products are venue and festival naming rights, signage, online advertising and custom events.
Live Nation owns, operates, has exclusive booking rights for, or holds an equity interest in 460 venues. Outdoor shows and festivals mostly run from May through October. Live Nation had approximately 17,700 full-time employees at the end of 2025 and as many as 37,000 seasonal and part-time employees in peak periods.
What Quint does
Quint signs exclusive rights agreements with sports leagues, event organizers and governing bodies. These give it access to tickets, hospitality rights and marketing rights. It builds packages from these rights that can include on-site or off-site experiences, transportation and hotel accommodations. It sells them directly to consumers, through corporate sales teams and through authorized distribution partners.
- - Premium seating and suite experiences - VIP travel programs and concierge services
Quint's principal partners are Formula 1, MotoGP, Churchill Downs and the NBA. It gets substantially all of its revenue from premium ticket-inclusive packages and recognizes it as events take place. Its largest events generally fall in the second and fourth quarters. Quint has a presence in Europe, the Middle East and Australia.
Who it competes with
- Promotion: Anschutz Entertainment Group, Another Planet Entertainment, CTS Eventim, Jam Productions, I.M.P., Outback Presents and TEG Dainty. - Venues: Legends Global, Madison Square Garden Entertainment Corp., The Nederlander Organization and Bowery Presents. - Primary ticketing: AXS, Paciolan, Eventbrite, SeatGeek and Ticketek, among others. - Resale ticketing: StubHub, Vivid Seats and Viagogo.
Live Nation says barriers to entry in promotion are low. It says competition turns on relationships with rights holders, access to high-demand inventory, customer service and pricing.
Rules it operates under
The company is subject to laws on privacy, primary ticketing and ticket resale, venue construction and operation, licensing and zoning, food and alcohol service, labor, disability access and the environment. It must also follow the United States Foreign Corrupt Practices Act and the United Kingdom Bribery Act 2010. Live Nation's stagehands and some other employees are covered by collective bargaining agreements that typically run three years.
*From Liberty Live's annual report on Form 10-K for the year ended 31 December 2025. [The filing](https://www.sec.gov/Archives/edgar/data/2078416/000110465926020657/tmb-20251231x10k.htm)*
From the company's 10-K.