Billionaire Israel Englander’s Top 10 Stock Picks Heading Into 2025

3. Spotify Technology S.A. (NYSE:SPOT)

Millennium Management’s Stake Value: $1.03 Billion

Number of Hedge Fund Holders: 98

Spotify Technology S.A. (NYSE:SPOT) is a communication services company that provides audio streaming subscription services worldwide. It offers unlimited online and offline streaming access to its catalog of music and podcasts. It was one of the best-performing stocks, gaining 141% in 2024 and emerging as one of billionaire Israel Englander’s top stock picks in 2025.

After the blockbuster gain, one would wonder if there is still room for additional gains. Spotify remains well-positioned to continue edging higher. The upward momentum is being driven by strong underlying fundamentals, including record subscriber numbers of 640 million monthly active users. The numbers include 252 million premium members that pay a monthly subscription. Spotify Technology S.A. (NYSE:SPOT) is also enjoying strong revenue growth and surging profits. It logged $4.2 billion in revenue in the third quarter, which was up 19% year over year. Likewise, it generated a 361% increase in net income which amounted to $316 million.

Spotify’s competitive edge stems from its 31.7% market share in the global music streaming industry, well ahead of Tencent Music with 14.4% market share. Although the content catalogs of all music streaming services are similar, Spotify Technology S.A. (NYSE:SPOT) has set itself apart from the others through technological features, pricing, and the provision of additional content formats, such as podcasts.

Its recommendation engine, driven by artificial intelligence (AI), ensures that every user sees the content that is most pertinent to them. Additionally, AI is being used to develop novel features like AI DJ, which creates customized playlists and adds a voiceover produced by software for commentary while the music is playing.