SPOTIFY TECHNOLOGY S A SPOT
SHS · Common Stock · CUSIP L8681T102
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* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($311.9m this quarter). Holder counts are more reliable. Shares outstanding: 205.8m as of 2025-12-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $484.66. Options: 46 managers hold calls ($3.8bn notional), 53 hold puts ($3.2bn).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 495 |
| Q4 2022 | 479 |
| Q1 2023 | 547 |
| Q2 2023 | 572 |
| Q3 2023 | 555 |
| Q4 2023 | 657 |
| Q1 2024 | 720 |
| Q2 2024 | 841 |
| Q3 2024 | 911 |
| Q4 2024 | 1,064 |
| Q1 2025 | 1,173 |
| Q2 2025 | 1,330 |
| Q3 2025 | 1,352 |
| Q4 2025 | 1,322 |
| Q1 2026 | 1,282 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 486 | 284 |
| Q3 2024 | 490 | 346 |
| Q4 2024 | 549 | 397 |
| Q1 2025 | 665 | 446 |
| Q2 2025 | 771 | 477 |
| Q3 2025 | 745 | 557 |
| Q4 2025 | 561 | 739 |
| Q1 2026 | 713 | 636 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $5.4bn | $5.1bn | 0.93 |
| Q3 2025 | $5.5bn | $5.3bn | 0.97 |
| Q4 2025 | $4.3bn | $3.7bn | 0.86 |
| Q1 2026 | $3.8bn | $3.2bn | 0.83 |
Biggest buyers
| WELLINGTON MANAGEMENT GROUP LLP | Added | +2.4m |
| MORGAN STANLEY | Added | +1.8m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +734.4k |
| DEUTSCHE BANK AG\ | Added | +560.2k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +522.6k |
| Clearbridge Investments, LLC | New | +481.2k |
| Cantillon Capital Management LLC | New | +439.4k |
| Southpoint Capital Advisors LP | New | +400.0k |
| Capital International Investors | Added | +380.1k |
| ValueAct Holdings, L.P. | New | +358.5k |
Biggest sellers
| Capital World Investors | Reduced | -2.1m |
| FMR LLC | Reduced | -1.8m |
| FORSTA AP-FONDEN | Sold out | -1.5m |
| COATUE MANAGEMENT LLC | Reduced | -1.1m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -970.1k |
| MARSHALL WACE, LLP | Reduced | -732.8k |
| JPMORGAN CHASE & CO | Reduced | -594.2k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -544.4k |
| Capital Research Global Investors | Reduced | -501.0k |
| Winslow Capital Management, LLC | Reduced | -490.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $881.8m1.8m shares |
| JANE STREET GROUP, LLC | Reduced | $853.2m1.8m shares |
| CITADEL ADVISORS LLC | Added | $719.2m1.5m shares |
| IMC-Chicago, LLC | Added | $243.6m502.3k shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Unchanged | $157.1m324.0k shares |
| Point72 Asset Management, L.P. | Added | $149.7m308.8k shares |
| Walleye Trading LLC | Reduced | $134.5m277.3k shares |
| Squarepoint Ops LLC | Added | $115.3m237.7k shares |
| PEAK6 LLC | Reduced | $59.4m122.5k shares |
| Optiver Holding B.V. | Added | $47.2m97.3k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $883.2m1.8m shares |
| JANE STREET GROUP, LLC | Added | $372.2m767.6k shares |
| CITADEL ADVISORS LLC | Reduced | $366.1m755.0k shares |
| IMC-Chicago, LLC | Reduced | $273.5m564.1k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $214.5m442.3k shares |
| Parallax Volatility Advisers, L.P. | Unchanged | $104.2m199.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $104.0m214.5k shares |
| Squarepoint Ops LLC | Added | $99.8m205.9k shares |
| PEAK6 LLC | Reduced | $90.9m187.4k shares |
| D. E. Shaw & Co., Inc. | Reduced | $87.4m180.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.10% of their portfolio | 11.4m $5.5bn | Reduced -222.5k |
| MORGAN STANLEY 0.24% of their portfolio | 8.4m $4.1bn | Added +1.8m |
| BAILLIE GIFFORD & CO 4.07% of their portfolio | 8.2m $4.0bn | Reduced -112.9k |
| STATE STREET CORP 0.08% of their portfolio | 4.7m $2.3bn | Added +16.8k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.26% of their portfolio | 4.6m $2.2bn | Added +734.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.30% of their portfolio | 3.3m $1.6bn | Added +2.4m |
| JENNISON ASSOCIATES LLC 0.93% of their portfolio | 2.8m $1.3bn | Reduced -228.4k |
| Fisher Asset Management, LLC 0.43% of their portfolio | 2.6m $1.3bn | Reduced -76.8k |
| WCM INVESTMENT MANAGEMENT, LLC 2.62% of their portfolio | 2.4m $1.1bn | Reduced -40.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.34% of their portfolio | 2.1m $1.0bn | Reduced -91.8k |
| DEUTSCHE BANK AG\ 0.33% of their portfolio | 2.0m $992.2m | Added +560.2k |
| GOLDMAN SACHS GROUP INC 0.13% of their portfolio | 2.0m $970.0m | Added +224.2k |
| SANDS CAPITAL MANAGEMENT, LLC 3.41% of their portfolio | 1.8m $870.0m | Added +324.4k |
| BANK OF AMERICA CORP /DE/ 0.06% of their portfolio | 1.8m $853.3m | Reduced -243.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 1.8m $844.3m | Added +34.4k |
| JANUS HENDERSON GROUP PLC 0.40% of their portfolio | 1.7m $829.6m | Added +286.8k |
| TIGER GLOBAL MANAGEMENT LLC 3.36% of their portfolio | 1.6m $766.5m | Added +319.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.69% of their portfolio | 1.6m $758.9m | Reduced -324.8k |
| JPMORGAN CHASE & CO 0.05% of their portfolio | 1.5m $711.9m | Reduced -594.2k |
| NORTHERN TRUST CORP 0.09% of their portfolio | 1.5m $718.0m | Added +4.0k |
| Swedbank AB 0.71% of their portfolio | 1.4m $675.6m | Reduced -223.0k |
| COATUE MANAGEMENT LLC 2.20% of their portfolio | 1.3m $640.5m | Reduced -1.1m |
| BAMCO INC /NY/ 1.93% of their portfolio | 1.3m $639.9m | Added +322.2k |
| Artisan Partners Limited Partnership 1.03% of their portfolio | 1.3m $633.3m | Added +332.0k |
| EDGEWOOD MANAGEMENT LLC 4.01% of their portfolio | 1.3m $621.0m | Added +222.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.49% of their portfolio | 1.2m $599.3m | Added +344.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.12% of their portfolio | 1.1m $557.3m | Reduced -98.0k |
| Amundi 0.15% of their portfolio | 1.1m $535.6m | Added +184.0k |
| Legal & General Group Plc 0.12% of their portfolio | 1.0m $504.6m | Reduced -55.9k |
| Capital International Investors 0.12% of their portfolio | 1.0m $501.7m | Added +380.1k |
| FMR LLC 0.03% of their portfolio | 1.0m $497.1m | Reduced -1.8m |
| Technology Crossover Management XI, Ltd. 83.37% of their portfolio | 1.0m $484.9m | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.26% of their portfolio | 989.7k $479.9m | Added +344.5k |
| BROWN ADVISORY INC 0.74% of their portfolio | 932.2k $452.0m | Added +97.4k |
| Point72 Asset Management, L.P. 0.77% of their portfolio | 916.1k $444.2m | Reduced -54.8k |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 861.2k $417.6m | Added +338 |
| CITADEL ADVISORS LLC 0.28% of their portfolio | 809.0k $392.3m | Added +231.8k |
| Nuveen, LLC 0.10% of their portfolio | 795.6k $385.8m | Reduced -2.4k |
| Capital World Investors 0.05% of their portfolio | 792.6k $384.3m | Reduced -2.1m |
| SEI INVESTMENTS CO 0.34% of their portfolio | 749.5k $363.4m | Added +13.4k |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. 2.89% of their portfolio | 679.0k $329.3m | Added +257.4k |
| Bank of New York Mellon Corp 0.06% of their portfolio | 673.3k $326.5m | Reduced -111.8k |
| UBS Group AG 0.06% of their portfolio | 652.8k $316.5m | Reduced -34.8k |
| BESSEMER GROUP INC 0.49% of their portfolio | 643.1k $311.9m | Reduced -86.3k |
| Winslow Capital Management, LLC 1.17% of their portfolio | 620.9k $301.1m | Reduced -490.5k |
| AMERICAN CENTURY COMPANIES INC 0.15% of their portfolio | 614.3k $297.9m | Added +66.8k |
| Alecta Tjanstepension Omsesidigt 1.40% of their portfolio | 593.0k $287.3m | Unchanged |
| VICTORY CAPITAL MANAGEMENT INC 0.18% of their portfolio | 574.9k $278.8m | Added +522.6k |
| Swiss National Bank 0.16% of their portfolio | 573.3k $278.0m | Added +125.2k |
| National Pension Service 0.21% of their portfolio | 572.5k $277.6m | Added +27.9k |
| Invesco Ltd. 0.03% of their portfolio | 542.4k $263.0m | Reduced -388.4k |
| Pictet Asset Management Holding SA 0.27% of their portfolio | 529.6k $256.7m | Added +79.6k |
| NEUBERGER BERMAN GROUP LLC 0.19% of their portfolio | 527.5k $255.8m | Reduced -9.9k |
| AMF Tjanstepension AB 1.61% of their portfolio | 500.0k $242.5m | Unchanged |
| Sumitomo Mitsui Trust Group, Inc. 0.16% of their portfolio | 499.9k $242.4m | Reduced -27.6k |
| Robeco Institutional Asset Management B.V. 0.34% of their portfolio | 492.0k $238.6m | Added +73.0k |
| BARCLAYS PLC 0.08% of their portfolio | 486.0k $235.6m | Reduced -477.7k |
| Clearbridge Investments, LLC 0.20% of their portfolio | 481.2k $233.3m | New |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 473.2k $229.5m | First filing |
| CANADA PENSION PLAN INVESTMENT BOARD 0.14% of their portfolio | 461.6k $223.8m | Reduced -48.6k |
| NORDEA INVESTMENT MANAGEMENT AB 0.20% of their portfolio | 439.9k $210.3m | Added +196.9k |
| Cantillon Capital Management LLC 1.42% of their portfolio | 439.4k $213.0m | New |
| ROYAL BANK OF CANADA 0.04% of their portfolio | 432.5k $209.7m | Added +52.5k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.35% of their portfolio | 419.2k $203.3m | Added +153.1k |
| Southpoint Capital Advisors LP 3.99% of their portfolio | 400.0k $194.0m | New |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 388.3k $188.3m | Added +144.6k |
| Squarepoint Ops LLC 0.40% of their portfolio | 379.9k $184.2m | Reduced -97.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.05% of their portfolio | 376.9k $182.8m | Added +75.5k |
| ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio | 367.8k $213.6m | Reduced -255.5k |
| Select Equity Group, L.P. 0.95% of their portfolio | 365.9k $177.4m | Added +198.5k |
| ValueAct Holdings, L.P. 3.04% of their portfolio | 358.5k $173.8m | New |
| D. E. Shaw & Co., Inc. 0.14% of their portfolio | 358.5k $173.8m | Reduced -408.9k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 354.0k $171.7m | Added +25.3k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.15% of their portfolio | 350.3k $169.9m | First filing |
| Palestra Capital Management LLC 6.63% of their portfolio | 347.9k $168.7m | New |
| D1 Capital Partners L.P. 1.47% of their portfolio | 340.5k $165.1m | Reduced -55.4k |
| PRIMECAP MANAGEMENT CO/CA/ 0.13% of their portfolio | 332.6k $161.3m | Added +68.6k |
| Balyasny Asset Management L.P. 0.31% of their portfolio | 328.7k $159.4m | Reduced -10.7k |
| GENERATION INVESTMENT MANAGEMENT LLP 1.43% of their portfolio | 328.0k $159.1m | Reduced -4.9k |
| Allspring Global Investments Holdings, LLC 0.25% of their portfolio | 314.5k $147.8m | Added +70.9k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.25% of their portfolio | 303.0k $146.9m | Reduced -22.6k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.08% of their portfolio | 300.3k $145.6m | Reduced -970.1k |
| Russell Investments Group, Ltd. 0.15% of their portfolio | 284.0k $137.5m | Reduced -7.7k |
| TREMBLANT CAPITAL GROUP 4.38% of their portfolio | 280.4k $136.0m | Added +39.0k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 278.5k $135.0m | Reduced -165.7k |
| MILLENNIUM MANAGEMENT LLC 0.10% of their portfolio | 276.7k $134.2m | Added +97.7k |
| Allianz Asset Management GmbH 0.15% of their portfolio | 266.2k $129.1m | Added +7.5k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 264.8k $128.4m | Reduced -3.1k |
| TD Asset Management Inc 0.10% of their portfolio | 262.8k $127.4m | Added +69.1k |
| Capital Research Global Investors 0.02% of their portfolio | 261.2k $126.6m | Reduced -501.0k |
| Eurizon Capital SGR S.p.A. 0.39% of their portfolio | 259.3k $125.3m | New |
| VOYA INVESTMENT MANAGEMENT LLC 0.13% of their portfolio | 249.4k $120.7m | Added +1.2k |
| Polar Capital Holdings Plc 0.52% of their portfolio | 245.4k $119.0m | New |
| SRS Investment Management, LLC 1.25% of their portfolio | 244.5k $118.6m | Added +97.4k |
| Man Group plc 0.24% of their portfolio | 243.6k $118.1m | Added +134.6k |
| JANE STREET GROUP, LLC 0.12% of their portfolio | 238.1k $115.4m | Added +58.8k |
| Hyperion Asset Management Ltd 3.66% of their portfolio | 236.7k $114.8m | Reduced -98.2k |
| TCW GROUP INC 0.86% of their portfolio | 236.1k $114.5m | Added +20.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.16% of their portfolio | 231.3k $112.2m | Added +38.8k |
| Atalan Capital Partners, LP 10.26% of their portfolio | 229.6k $111.3m | Added +70.1k |