What Makes BILL Holdings (BILL) an Investment Choice?

2 weeks ago 9

Soumya Eswaran

Thu, December 4, 2025 astatine 7:54 AM CST 4 min read

13D Activist Fund is simply a communal money that focuses connected companies invested successful by shareholder activists. The money released its Q3 2025 capitalist letter. The people I shared of the money returned 8.88%, nett of fees and expenses, successful the 4th compared to 12.39% for the Russell 2000 Index. Overall, the money was thrilled with its show this quarter. However, connected a comparative basis, determination is country for improvement. The Russell 2000 outperformed the S&P 500 by the largest borderline successful 3 years, with a instrumentality of 12.39% compared to the S&P 500's 8.12%. In addition, delight cheque the fund’s apical 5 holdings to cognize its champion picks successful 2025.

In its third-quarter 2025 capitalist letter, 13D Activist Fund highlighted stocks specified arsenic BILL Holdings, Inc. (NYSE:BILL). BILL Holdings, Inc. (NYSE:BILL) provides cloud-based bundle solutions to simplify, digitize, and automate analyzable back-office fiscal operations. The one-month instrumentality of BILL Holdings, Inc. (NYSE:BILL) was 16.66%, and its shares mislaid 45.78% of their worth implicit the past 52 weeks. On December 03, 2025, BILL Holdings, Inc. (NYSE:BILL) banal closed astatine $51.76 per share, with a marketplace capitalization of $5.196 billion.

13D Activist Fund stated the pursuing regarding BILL Holdings, Inc. (NYSE:BILL) successful its 3rd 4th 2025 capitalist letter:

"BILL Holdings, Inc. (NYSE:BILL) is simply a fiscal operations level for tiny and midsize businesses (SMBs). The Company operates done a azygous operating conception but does disaggregate its gross by solution. BILL Accounts Payable/Accounts Receivable covers its subscription and transaction fees for the cognition of its level which immunodeficiency customers successful processing invoices, streamlining approvals, making and receiving payments, and different functions. This concern generated $668 cardinal successful 2025 oregon 46% of full revenue, of which astir one-third came from subscription fees and the remainder from outgo processing fees. BILL Spend and Expense covers the cognition of its BILL Divvy Card, a concern recognition paper institution it acquired successful 2021, expanding BILL’s scope to astir each outlet for firm walk ($555 cardinal of 2025 revenue, 38%). Embedded and Other Solutions covers income of achromatic statement solutions to fiscal institutions and different acquired concern called Invoice2go, which it has struggled to integrate ($78 million, 5%). Lastly, the Company generates meaningful gross from involvement connected funds held for customers ($162 million, 11%).