Select Equity Group, L.P. 13F: Adds $91M to SPOT Stake

Select Equity Group Grows Spotify Position

Select Equity Group, L.P. raised its investment in Spotify Technology S.A. (NYSE:SPOT) during the quarter ended May 15, 2026, according to a recent Form 13F filing with the U.S. Securities and Exchange Commission. The filing reflects holdings as of that reporting period and may not represent the investor's current position.

How Select Equity Group Adjusted Its Spotify Holdings

The firm boosted its position by adding 198,510 shares, marking a 118.6% increase from the prior quarter. That move brought Select Equity Group's total share count to 365,876 shares. Based on reporting period values, the stake was worth about $167.98 million.

Spotify Stock Performance and Market Context

Spotify shares recently traded at $459.13. The stock has experienced a wide trading range over the past year, hitting a 52-week low of $405.00 and a 52-week high of $696.95. Its price currently sits below both its 50-day moving average of $518.89 and its 200-day moving average of $497.84. The company carries a P/E ratio of 30.65 and a forward P/E of 31.03.

Analysts Set New Price Targets

Wall Street firms have actively reviewed the audio streaming provider ahead of its upcoming reports. On October 15, 2026, StoneX downgraded the stock to a Hold rating. Earlier, on October 12, 2026, Cantor Fitzgerald maintained its Neutral rating while lowering its price target to $490.00 from $530.00. Piper Sandler initiated coverage with a Neutral rating and a $540.00 price target on October 8, 2026. UBS maintained a Buy rating with a $675.00 price target on October 5, 2026. Keybanc kept an Overweight rating and set a $660.00 price target on October 1, 2026. Evercore ISI Group maintained an Outperform rating and raised its target to $700.00 on September 29, 2026. Overall, the stock holds a consensus buy rating with a mean price target of $599.22 across 37 analyst opinions.

About Spotify Technology S.A.

Spotify Technology S.A. operates audio streaming subscription services globally through its Premium and Ad-Supported segments. The company provides online and offline access to music, podcasts, and audiobooks to millions of users on various devices. Founded in 2006, the firm is headquartered in Stockholm, Sweden.

What to Watch Next for Spotify

Investors are keeping an eye on Spotify's next financial results, which are scheduled for release on October 22, 2026. Because 13F filings look backward at past quarters, institutional holdings may have shifted since this filing was submitted. Market participants will look to subsequent SEC reports to see how large asset managers adjust their positions moving forward.