The respective roles of ventral and dorsal cortical processing streams are still under discussion in both vision and audition. We characterized neural responses in the caudal auditory belt cortex, an early dorsal stream region of the macaque. We found fast neural responses with elevated temporal precision as well as neurons selective to sound location. These populations were partly segregated: Neurons in a caudomedial area more precisely followed temporal stimulus structure but were less selective to spatial location. Response latencies in this area were even shorter than in primary auditory cortex. Neurons in a caudolateral area showed higher selectivity for sound source azimuth and elevation, but responses were slower and matching to temporal sound structure was poorer. In contrast to the primary area and other regions studied previously, latencies in the caudal belt neurons were not negatively correlated with best frequency. Our results suggest that two functional substreams may exist within the auditory dorsal stream.