SPOT
LONGINSIDER SELLCONGRESS BUYCONGRESS SELLSPOTIFY TECHNOLOGY S A
Research: Finviz ↗·Perplexity ↗
🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.
News Summary
NeutralSpotify achieved a historic 300M premium subscriber milestone in Q2 2026 with record gross margins (33.4%), but missed Q2 earnings per share ($3.03 vs. $3.29 consensus) and revenue guidance due to elevated AI and marketing spend. Management transition to co-CEOs is complete, and landmark UMG AI licensing deal positions the company for long-term growth, though North American saturation and Q3 guidance misses on user growth and operating income signal moderating momentum.
Red flags
- •Q2 2026 EPS miss of 8% despite operational beat
- •Q2 revenue $5.554B below $5.600B consensus estimate
- •Q3 2026 guidance missed on MAU and operating income growth
- •North American premium subscriber saturation with slowing growth from price increases
- •Rising regulatory headwinds (EU Digital Markets Act investigation into Apple, potential streaming taxes in France and South America)
Funds Buying (5)
| Fund | Manager | Shares Held | ∆ Shares | Position Value | % of Fund | QoQ | Status |
|---|---|---|---|---|---|---|---|
| Tiger Global | Chase Coleman | 1.6M | +319K | $767M | 3.4% | +25% | Existing |
| Point72 | Steve Cohen | 916K | +916K | $444M | 0.8% | — | NEW |
| ValueAct Holdings | Mason Morfit | 359K | +359K | $174M | 3.0% | — | NEW |
| Lone Pine Capital | Steve Mandel | 69K | +51K | $33M | 0.3% | +288% | Existing |
| Maverick Capital | Lee Ainslie | 1K | +1K | $1M | <0.1% | — | NEW |
Shares Held and Position Value reflect total quarter-end holdings. ∆ Shares is the change from the prior quarter. % of Fund is the position's share of the fund's reported equity portfolio — it drives the size weighting in the conviction score.
Portfolio Context
Where SPOT ranks in each buying fund's book, and the positions immediately around it. What a holding sits next to often says more about the thesis than the position size does.
position #11 of this fund's book
- 8MICROSOFT CORP$925M
- 9GE VERNOVA INC$849M
- 10LAM RESEARCH CORP$833M
- 11SPOTIFY TECHNOLOGY S A$767M
- 12COUPANG INC$653M
- 13APPLIED MATLS INC$566M
- 14CORPAY INC$510M
position #12 of this fund's book
- 9APPLIED MATLS INC$587M
- 10EQUINIX INC$524M
- 11META PLATFORMS INC$520M
- 12SPOTIFY TECHNOLOGY S A$444M
- 13RTX CORPORATION$395M
- 14AKAMAI TECHNOLOGIES INC$379M
- 15BLOCK INC$379M
position #13 of this fund's book
- 10KKR & CO INC$303M
- 11MONGODB INC$254M
- 12SIMPSON MFG INC$240M
- 13SPOTIFY TECHNOLOGY S A$174M
- 14LIBERTY LIVE HOLDINGS INC$163M
- 15LIVE NATION ENTERTAINMENT IN$95M
- 16WIX COM LTD$94M
position #29 of this fund's book
- 26ALPHABET INC$54M
- 27TRANSDIGM GROUP INC$41M
- 28VULCAN MATLS CO$39M
- 29SPOTIFY TECHNOLOGY S A$33M
- 30MASTERCARD INCORPORATED$29M
- 31AMPHENOL CORP$28M
- 32VISA INC$28M
Values are quarter-end position sizes. Shown only for funds where SPOT ranks inside their 40 largest equity positions — below that, neighbouring names carry no signal. Adjacency is an inference about a fund's reasoning, not a disclosure of it.
Signal History
| Quarter | Direction | Funds | Score | vs SPY |
|---|---|---|---|---|
| Q2 2026 | LONG | 3 | 3.30 | +14.0% |
| Q1 2026 | LONG | 5 | 6.38 | -13.9% |
Same issuer appearing in consecutive quarters — persistent institutional conviction. Returns are frozen at each archived quarter's last refresh.
Insider Activity
| Name | Title | Type | Shares | Price | Value | Filed | Src |
|---|---|---|---|---|---|---|---|
| Norstrom Alex | Co-Chief Executive Officer | SELL | 590 | $499.96 | $0.29M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 1K | $501.16 | $0.63M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 2K | $502.05 | $0.94M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 1K | $502.86 | $0.58M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 254 | $503.86 | $0.13M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 315 | $506.04 | $0.16M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 769 | $500.03 | $0.38M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 744 | $501.17 | $0.37M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $502.07 | $0.84M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $502.90 | $0.79M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 600 | $504.03 | $0.30M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 242 | $504.76 | $0.12M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $506.04 | $0.79M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $506.87 | $1.04M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $508.19 | $1.13M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $508.99 | $1.21M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $510.00 | $1.14M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 4K | $510.94 | $2.09M | 2026-08-03 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 706 | $511.64 | $0.36M | 2026-08-03 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 509 | $476.31 | $0.24M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 324 | $477.33 | $0.15M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 385 | $478.45 | $0.18M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 1K | $480.38 | $0.59M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 1K | $481.23 | $0.68M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 635 | $482.37 | $0.31M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 150 | $483.64 | $0.07M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 625 | $484.48 | $0.30M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 135 | $485.47 | $0.07M | 2026-07-06 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 40 | $486.00 | $0.02M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 1K | $474.96 | $0.65M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 4K | $475.97 | $1.92M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 3K | $477.08 | $1.29M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 3K | $478.02 | $1.42M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 3K | $478.83 | $1.26M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 3K | $480.00 | $1.55M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 2K | $480.87 | $1.08M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 778 | $482.24 | $0.38M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 75 | $482.83 | $0.04M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 452 | $484.21 | $0.22M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 104 | $484.70 | $0.05M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 239 | $485.82 | $0.12M | 2026-07-06 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 21K | $496.52 | $10.34M | 2026-06-02 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 5K | $498.27 | $2.71M | 2026-06-02 | ↗ |
| Marshall Christopher P | — | SELL | 3K | $519.86 | $1.38M | 2026-05-26 | ↗ |
| STAGGS THOMAS O | — | SELL | 5K | $526.00 | $2.88M | 2026-05-26 | ↗ |
| Lorentzon Sven Hans Martin | — | SELL | 35K | $525.73 | $18.60M | 2026-05-22 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 21K | $430.72 | $8.97M | 2026-05-05 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 5K | $433.07 | $2.35M | 2026-05-05 | ↗ |
| Soderstrom Gustav | Co-Chief Executive Officer | SELL | 21K | $473.52 | $9.86M | 2026-04-01 | ↗ |
| Norstrom Alex | Co-Chief Executive Officer | SELL | 5K | $479.51 | $2.61M | 2026-04-01 | ↗ |
Congressional Trading
| Member | Chamber | State | Type | Amount Range | Transaction Date | Filed | Src |
|---|---|---|---|---|---|---|---|
| Gilbert Cisneros | house | CA31 | SELL | $1,001 - $15,000 | 2026-06-18 | 2026-07-02 | ↗ |
| Alan Armstrong | senate | — | BUY | $1,001 - $15,000 | 2026-03-30 | 2026-07-21 | ↗ |
Periodic Transaction Reports filed under the STOCK Act. Amounts are disclosed as ranges, not exact dollar figures.