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Livermore
Livermore
ZHEN

Nasdaq, Inc.

NDAQ
Exchange
Nasdaq
Industry
Security & Commodity Brokers, Dealers, Exchanges & Services
SEC CIK
0001120193

In the last 90 days, Nasdaq, Inc. insiders filed 0 open-market purchases and 10 sales; 1,091 institutions reported holding it in 13F filings for Q2 2026, worth $37.2B in total; Harris Associates (Oakmark) is the only superinvestor holding it.

13F holders, Q4 2025

Institutional positions in Nasdaq, Inc. as of Dec 31, 2025. Investment managers with $100 million or more in US stocks report their long positions on Form 13F within 45 days after each quarter ends. How 13F works

Institutional holders
1,104
+78 vs. Q3 2025
Shares held
480.5M
+6.96M (+1.5%) vs. Q3 2025
Total value
$46.7B
+$4.80B (+11.5%) vs. Q3 2025
New holders
169
432 more added
Sold out
91
351 more reduced

21 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so they aren't counted as sold out or in the changes above.

Compare with Q3 2025: new holders, sold out and not filed yet

Holders and value by quarter

Institutions reporting NDAQ on Form 13F each quarter since Q1 2021, and the total value they reported. Values are as of each quarter end, so they also move with the share price.

Institutional holdersQ4 2025: 1,104 institutions
Q1 2021: 593 institutionsQ2 2021: 602 institutionsQ3 2021: 617 institutionsQ4 2021: 716 institutionsQ1 2022: 680 institutionsQ2 2022: 646 institutionsQ3 2022: 683 institutionsQ4 2022: 718 institutionsQ1 2023: 690 institutionsQ2 2023: 697 institutionsQ3 2023: 701 institutionsQ4 2023: 727 institutionsQ1 2024: 766 institutionsQ2 2024: 759 institutionsQ3 2024: 844 institutionsQ4 2024: 908 institutionsQ1 2025: 935 institutionsQ2 2025: 1,022 institutionsQ3 2025: 1,047 institutionsQ4 2025: 1,104 institutionsQ1 2026: 1,100 institutionsQ2 2026: 1,091 institutions
Value heldQ4 2025: $46.7B
Q1 2021: $18.0BQ2 2021: $21.3BQ3 2021: $23.5BQ4 2021: $26.0BQ1 2022: $21.6BQ2 2022: $18.4BQ3 2022: $20.6BQ4 2022: $22.4BQ1 2023: $19.8BQ2 2023: $18.0BQ3 2023: $17.4BQ4 2023: $25.3BQ1 2024: $30.3BQ2 2024: $28.8BQ3 2024: $34.9BQ4 2024: $37.0BQ1 2025: $36.9BQ2 2025: $42.8BQ3 2025: $42.0BQ4 2025: $46.7BQ1 2026: $39.7BQ2 2026: $37.2B
Institutions holding NDAQ and their total value by quarter
QuarterHoldersValue
Q2 20261,091$37.2B
Q1 20261,100$39.7B
Q4 20251,104$46.7B
Q3 20251,047$42.0B
Q2 20251,022$42.8B
Q1 2025935$36.9B
Q4 2024908$37.0B
Q3 2024844$34.9B
Q2 2024759$28.8B
Q1 2024766$30.3B
Q4 2023727$25.3B
Q3 2023701$17.4B
Q2 2023697$18.0B
Q1 2023690$19.8B
Q4 2022718$22.4B
Q3 2022683$20.6B
Q2 2022646$18.4B
Q1 2022680$21.6B
Q4 2021716$26.0B
Q3 2021617$23.5B
Q2 2021602$21.3B
Q1 2021593$18.0B

Institutions, Q4 2025

Shares, value and share of portfolio for each institution holding Nasdaq, Inc.; share changes are against Q3 2025.

Institutions holding NDAQ in Q4 2025
InstitutionSharesValue% of portfolioChange in sharesAction
E Fund Management (Hong Kong) Co., Ltd.3$2900.00%00.0%Unchanged
IMA Wealth, Inc.4$3880.00%00.0%Unchanged
Three Bearings Fiduciary Advisors, Inc.5$4850.00%+5New
Trust Co5$4860.00%+5New
Aventura Private Wealth, LLC5$4860.00%+5New
Quest 10 Wealth Builders, Inc.5$5330.00%00.0%Unchanged
Cedar Mountain Advisors, LLC6$5830.00%00.0%Unchanged
Seneschal Advisors, LLC6$5830.00%00.0%Unchanged
Davis Capital Management6$5830.00%+6New
Networth Advisors, LLC6$5830.00%+6New
Investors Portfolio Services LLC8$8070.00%+8New
Mascoma Wealth Management LLC9$8740.00%+9New
Prestige Wealth Management Group LLC9$8750.00%00.0%Unchanged
Valued Wealth Advisors LLC9$8750.00%00.0%Unchanged
Atlantic Private Wealth, LLC10$9710.00%+10New
HFM Investment Advisors, LLC13$1.26K0.00%−1−7.1%Reduced
1015 Capital Partners, LLC13$1.26K0.00%+13New
Signature Resources Capital Management, LLC14$1.36K0.00%00.0%Unchanged
Imprint Wealth LLC15$1.46K0.01%−49−76.6%Reduced
WestEnd Advisors, LLC15$1.46K0.00%+5+50.0%Added
Turning Point Benefit Group, Inc.16$1.55K0.00%+11+220.0%Added
Aspect Partners, LLC17$1.65K0.00%00.0%Unchanged
Merited Wealth, LLC18$1.75K0.00%+18New
American Capital Advisory, LLC18$1.75K0.00%00.0%Unchanged
Motco19$1.84K0.00%00.0%Unchanged
Optima Capital LLC19$1.84K0.00%+19New
Winnow Wealth LLC20$1.96K0.00%+11+122.2%Added
IFC & Insurance Marketing, Inc.21$2.00K0.00%+21New
Marquette Asset Management, LLC21$2.04K0.00%−49−70.0%Reduced
Clark Wealth Partners21$2.04K0.00%00.0%Unchanged
Quaker Wealth Management, LLC21$2.04K0.00%+3+16.7%Added
Cornerstone Financial Management LLC21$2.04K0.00%+21New
TFC Financial Management23$2.23K0.00%00.0%Unchanged
Elevated Capital Advisors, LLC24$2.33K0.00%+24New
Rialto Wealth Management, LLC24$2.33K0.00%+2+9.1%Added
MPWM Advisory Solutions, LLC25$2.43K0.00%00.0%Unchanged
Kayne Anderson Rudnick Investment Management LLC28$2.72K0.00%00.0%Unchanged
Sachetta, LLC28$2.72K0.00%00.0%Unchanged
NVWM, LLC28$2.72K0.00%+5+21.7%Added
Toth Financial Advisory Corp28$2.72K0.00%+28New
HM Payson & Co30$2.91K0.00%−18−37.5%Reduced
Jackson, Grant Investment Advisers, Inc.30$2.91K0.00%00.0%Unchanged
ZRC Wealth Management, LLC32$3.11K0.00%+13+68.4%Added
Dunhill Financial, LLC33$3.20K0.00%+4+13.8%Added
Principia Wealth Advisory, LLC33$3.21K0.00%+1+3.1%Added
CBIZ Investment Advisory Services, LLC34$3.30K0.00%−16−32.0%Reduced
Bravera Wealth34$3.30K0.00%+34New
Crews Bank & Trust36$3.50K0.00%00.0%Unchanged
Financial Consulate, Inc38$3.69K0.00%00.0%Unchanged
DAGCO, Inc.38$3.69K0.00%00.0%Unchanged
Country Trust Bank42$4.08K0.00%00.0%Unchanged
Bay Harbor Wealth Management, LLC44$4.27K0.00%+14+46.7%Added
DiNuzzo Private Wealth, Inc.44$4.27K0.00%00.0%Unchanged
Acima Private Wealth, LLC46$4.47K0.00%00.0%Unchanged
Hughes Financial Services, LLC46$4.47K0.00%+3+7.0%Added
Mowery & Schoenfeld Wealth Management, LLC48$4.66K0.01%00.0%Unchanged
North Star Investment Management Corp.49$4.76K0.00%+49New
Quattro Advisors LLC49$4.76K0.00%+49New
Geneos Wealth Management Inc.50$4.86K0.00%00.0%Unchanged
Merrithew & Thorsten Inc55$5.00K0.01%+55New
Dogwood Wealth Management LLC52$5.05K0.00%+26+100.0%Added
Triumph Capital Management53$5.18K0.00%+53New
Bare Financial Services, Inc54$5.25K0.00%−9−14.3%Reduced
Accent Capital Management, LLC54$5.25K0.00%00.0%Unchanged
Plato Investment Management Ltd54$5.27K0.00%00.0%Unchanged
Wilkerson Advisory Group LLC57$5.54K0.00%+57New
DHJJ Financial Advisors, Ltd.57$5.55K0.00%+57New
Phoenix Holdings Ltd.19,287$5.68K0.00%−7,607−28.3%Reduced
ORG Partners LLC59$5.73K0.00%−3−4.8%Reduced
Alerus Financial NA60$5.83K0.00%−34−36.2%Reduced
BankPlus Trust Department60$5.83K0.00%00.0%Unchanged
Ares Financial Consulting, LLC63$6.12K0.01%+63New
JNBA Financial Advisors65$6.31K0.00%+14+27.5%Added
Kohmann Bosshard Financial Services, LLC65$6.31K0.00%+65New
RMG Wealth Management LLC66$6.53K0.00%+66New
Indiana Trust & Investment Management CO69$6.70K0.00%00.0%Unchanged
Key Financial Inc69$6.70K0.00%00.0%Unchanged
Vermillion & White Wealth Management Group, LLC72$6.99K0.00%00.0%Unchanged
Hanson & Doremus Investment Management70$7.00K0.00%00.0%Unchanged
Carolina Wealth Advisors, LLC74$7.19K0.00%00.0%Unchanged
Laurel Wealth Advisors LLC76$7.38K0.00%+76New
Commonwealth Retirement Investments LLC76$7.38K0.00%+76New
Ogorek Anthony Joseph83$8.00K0.00%+26+45.6%Added
Phillip James Consulting Co.81$8.00K0.14%+81New
High Note Wealth, LLC85$8.26K0.00%+3+3.7%Added
Kilter Group LLC88$8.55K0.00%00.0%Unchanged
Avion Wealth101$9.00K0.00%00.0%Unchanged
Red Tortoise LLC93$9.03K0.00%00.0%Unchanged
Align Financial, LLC9,033$9.03K0.01%+9,033New
Plante Moran Financial Advisors, LLC96$9.32K0.00%00.0%Unchanged
Howard Hughes Medical Institute97$9.42K0.01%00.0%Unchanged
Y.D. More Investments Ltd425$9.81K0.00%−5−1.2%Reduced
1 North Wealth Services LLC102$9.91K0.00%00.0%Unchanged
Strategic Wealth Partners, Ltd.102$9.91K0.00%00.0%Unchanged
Financial Freedom, LLC103$9.99K0.00%00.0%Unchanged
Valley National Advisers Inc103$10.0K0.00%00.0%Unchanged
NFJ Investment Group, LLC103$10.0K0.00%00.0%Unchanged
Brooklands Fund Management Ltd105$10.2K0.01%+105New
Meeder Asset Management Inc106$10.3K0.00%+106New
SJS Investment Consulting Inc.110$10.7K0.00%+91+478.9%Added