SCHEDULE 13D/AFiling Date: Aug 24, 2026
Bill
Beneficial Ownership (Active)
View SEC Filing
ACC: 0000921895-26-002296
Stake
Starboard Value LP
ActiveAmendment #3
Common Stock, $0.00001 par value per shareCUSIP 090043100
Percent10.10%
Shares8.64M
Event dateAug 20
Sole voting / Sole dispositive8.64M / 8.64M
Shared voting / Shared dispositive0 / 0
Source of fundsItem 3 is hereby amended and restated to read as follows:
The securities of the Issuer purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard L Master, Starboard X Master and held in the Starboard Value LP Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted. The aggregate purchase price of the 4,597,782 Shares beneficially owned by Starboard V&O Fund is approximately $205,728,347, excluding brokerage commissions (including $69,096,198 paid as consideration for Starboard V&O Fund's entry into certain forward purchase contracts providing for the purchase of 1,614,152 Shares). The aggregate purchase price of the 681,182 Shares beneficially owned by Starboard S LLC is approximately $30,538,117, excluding brokerage commissions. The aggregate purchase price of the 239,363 Shares beneficially owned by Starboard L Master is approximately $10,731,868, excluding brokerage commissions. The aggregate purchase price of the 1,712,590 Shares beneficially owned by Starboard X Master is approximately $71,914,018, excluding brokerage commissions. The aggregate purchase price of the 1,408,983 Shares held in the Starboard Value LP Account is approximately $62,212,000, excluding brokerage commissions.
In connection with the appointment of Peter A. Feld to the Board of Directors of the Issuer (the "Board"), as further described in Amendment No. 2 to the Schedule 13D, Mr. Feld has been awarded an aggregate of 7,831 restricted stock units ("RSUs") in connection with his service as a director of the Issuer, of which 2,610 RSUs vest within 60 days of the date hereof and 5,221 remain unvested and do not vest within 60 days of the date hereof.
Reporting persons
Starboard Value LP
CIK 0001517137 · PN
10.10%
STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD
CIK 0001373638 · CO
5.40%
STARBOARD VALUE & OPPORTUNITY S LLC
CIK 0001519812 · OO
0.80%
Starboard Value & Opportunity Master Fund L LP
CIK 0001767736 · PN
0.30%
Starboard Value L LP
CIK 0001767773 · PN
0.30%
Starboard Value R GP LLC
CIK 0001575979 · OO
0.30%
Starboard X Master Fund Ltd
CIK 0001833016 · CO
2.00%
Starboard Value GP LLC
CIK 0001517138 · OO
10.10%
Starboard Principal Co LP
CIK 0001517139 · PN
10.10%
Starboard Principal Co GP LLC
CIK 0001517140 · OO
10.10%
Smith Jeffrey C
CIK 0001362697 · IN
10.10%
Feld Peter A
CIK 0001410600 · IN
10.10%
Group total — do not add member rows.
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Deep Analysis
Starboard Value files Amendment No. 3 to Schedule 13D with BILL Holdings, Inc., reporting a group stake of 8,642,510 common shares (10.1%) and continued board representation for Peter A. Feld.
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Original SEC Filing Text expand_more
=== SEC Schedule 13D — Beneficial Ownership ===
Issuer: BILL Holdings, Inc.
Issuer CIK: 0001786352
Class: Common Stock, $0.00001 par value per share
CUSIP: 090043100
Event Date: 2026-08-20
Amendment: yes #3
--- Reporting Persons ---
- Starboard Value LP (0001517137) 8639900.00 sh 10.1% PN
- STARBOARD VALUE & OPPORTUNITY MASTER FUND LTD (0001373638) 4597782.00 sh 5.4% CO
- STARBOARD VALUE & OPPORTUNITY S LLC (0001519812) 681182.00 sh 0.8% OO
- Starboard Value & Opportunity Master Fund L LP (0001767736) 239363.00 sh 0.3% PN
- Starboard Value L LP (0001767773) 239363.00 sh 0.3% PN
- Starboard Value R GP LLC (0001575979) 239363.00 sh 0.3% OO
- Starboard X Master Fund Ltd (0001833016) 1712590.00 sh 2.0% CO
- Starboard Value GP LLC (0001517138) 8639900.00 sh 10.1% OO
- Starboard Principal Co LP (0001517139) 8639900.00 sh 10.1% PN
- Starboard Principal Co GP LLC (0001517140) 8639900.00 sh 10.1% OO
- Smith Jeffrey C (0001362697) 8639900.00 sh 10.1% IN
- Feld Peter A (0001410600) 8642510.00 sh 10.1% IN
--- Item 3 Source of Funds ---
Item 3 is hereby amended and restated to read as follows:
The securities of the Issuer purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard L Master, Starboard X Master and held in the Starboard Value LP Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted. The aggregate purchase price of the 4,597,782 Shares beneficially owned by Starboard V&O Fund is approximately $205,728,347, excluding brokerage commissions (including $69,096,198 paid as consideration for Starboard V&O Fund's entry into certain forward purchase contracts providing for the purchase of 1,614,152 Shares). The aggregate purchase price of the 681,182 Shares beneficially owned by Starboard S LLC is approximately $30,538,117, excluding brokerage commissions. The aggregate purchase price of the 239,363 Shares beneficially owned by Starboard L Master is approximately $10,731,868, excluding brokerage commissions. The aggregate purchase price of the 1,712,590 Shares beneficially owned by Starboard X Master is approximately $71,914,018, excluding brokerage commissions. The aggregate purchase price of the 1,408,983 Shares held in the Starboard Value LP Account is approximately $62,212,000, excluding brokerage commissions.
In connection with the appointment of Peter A. Feld to the Board of Directors of the Issuer (the "Board"), as further described in Amendment No. 2 to the Schedule 13D, Mr. Feld has been awarded an aggregate of 7,831 restricted stock units ("RSUs") in connection with his service as a director of the Issuer, of which 2,610 RSUs vest within 60 days of the date hereof and 5,221 remain unvested and do not vest within 60 days of the date hereof.