Artisan Partners released its Q4 2025 investor letter for the Artisan Mid Cap Fund, focusing on investing in companies with strong earnings trajectories. US equities closed a record year with strong gains. The Fund delivered -0.44% for the Investor Class, -0.37% for the Advisor Class, and -0.35% for the Institutional Class in Q4.

Spotify Technology S.A. (NYSE: SPOT) was highlighted in Artisan Mid Cap Fund’s Q4 2025 investor letter. The leading audio streaming service provider closed at $490.60 per share on February 20, 2026. Spotify has seen a one-month return of -6.79% and a 20.58% loss in the past twelve months, with a market cap of $98.073 billion.

Artisan Mid Cap Fund mentioned Spotify as a key detractor in Q4, praising its position in global music distribution. Despite a decline in shares due to advertising weakness, Spotify delivered strong results in user growth, revenue, and margins. The company’s strategic investments in podcasts and video are diversifying its business beyond music.

Spotify Technology S.A. (NYSE: SPOT) holds the 25th position among the 30 most popular stocks among hedge funds. 120 hedge fund portfolios held Spotify at the end of Q4, up from 116 in the previous quarter. While Spotify shows potential, some AI stocks offer greater upside with less downside risk. Consider exploring undervalued AI stocks for investment opportunities.

Read more at Yahoo Finance: Spotify (SPOT) was Hurt by Continued Near-Term Advertising Weakness