Spotify Technology S.a. (SPOT)

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Institutional Investors' Holdings

Filing Period: Filing is Ongoing

No.	Name	Shares	Value	% Port
1.	Blackrock, Inc.	11,318,290	$6,225,399,078	0.13%
2.	Baillie Gifford & Co	10,838,982	$5,961,765,269	5.2%
3.	Jennison Associates Llc	4,247,940	$2,336,494,478	1.64%
4.	Massachusetts Financial Services Co	3,526,988	$1,939,949,209	0.64%
5.	Wcm Investment Management	3,378,875	$1,896,089,495	4.87%