Soros Is Buying Spotify and Pandora: Should You?

Hedge funds are filing their second-quarter moves this week, and it seems as if George Soros has a thing for streaming music platforms. Spotify (NYSE:SPOT) and Pandora (NYSE:P) were among the largest new purchases for Soros Fund Management this past quarter, accounting for $122.6 million and $56.1 million of the widely watched hedge fund titan's assets.

Spotify is the leading provider of premium digital music subscriptions. Pandora is primarily a haven for ad-tolerating freeloaders, but it's also making some major headway in getting more of its users to pay up for tunes. Buying big blocks of both companies doesn't necessarily mean Soros is backing up the truck when it comes to stand-alone digital music services, but it obviously means he believes both stocks will be trading higher in the future.