Universal Bundle Theory (UBT) holds that objects are fundamentally identical with bundles of universals. Universals are multiply instantiable properties. One popular objection to UBT concerns the possibility of distinct indiscernibles. There are mainly two replies in the literature, corresponding to two representative UBTs, which I shall call the Identity-View and the Instance-View. Each view faces serious problems. This paper proposes a new version of UBT and argues that it is better than these other two versions.