[Disclosure: I worked at Spotify 8 years ago. My husband works there now. I do not have inside knowledge on how Wrapped is produced.]
I suspect Spotify does not include my listening history for the time between when it pulls data for the massive computation required for Wrapped (early November?) and the start of a new year.
Albums and songs I loved in November and December 2024 didn’t rank highly in my 2025 Wrapped. Xmas holiday music on repeat in December also didn’t rank.