Spotify Technology S.a. (SPOT)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Blackrock, Inc.	10,890,937	$5,000,356,260	0.07%
2.	Baillie Gifford & Co	7,928,451	$3,640,189,707	3.3%
3.	Morgan Stanley	7,418,358	$3,405,991,806	0.18%
4.	State Street Corp	4,633,537	$2,127,395,843	0.06%
5.	Wellington Management Group Llp	3,111,553	$1,428,607,330	0.25%