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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
Atlantic Union Bankshares Corp739$71.8K0.00%−165−18.3%Reduced
Whittier Trust Co of Nevada Inc720$72.5K0.00%00.0%Unchanged
TD Private Client Wealth LLC794$77.1K0.00%−286−26.5%Reduced
Root Financial Partners, LLC902$87.6K0.00%+208+30.0%Added
Golden State Wealth Management, LLC909$88.3K0.01%00.0%Unchanged
Private Wealth Asset Management, LLC910$88.4K0.01%+200+28.2%Added
Bartlett & Co. Wealth Management LLC995$96.6K0.00%+650+188.4%Added
Osterweis Capital Management Inc1,000$97.1K0.00%00.0%Unchanged
Onefund, LLC1,003$97.4K0.06%+86+9.4%Added
Bayforest Capital Ltd1,039$100.9K0.08%−95−8.4%Reduced
Rakuten Securities, Inc.1,047$101.7K0.03%−1,430−57.7%Reduced
True Wealth Design, LLC1,055$102.5K0.03%+291+38.1%Added
Cromwell Holdings LLC1,068$103.7K0.06%00.0%Unchanged
Sentry Investment Management LLC1,121$109.0K0.07%00.0%Unchanged
TCTC Holdings, LLC1,134$110.1K0.00%00.0%Unchanged
Financial Network Wealth Advisors LLC1,144$111.1K0.12%+13+1.1%Added
Whittier Trust Co1,177$118.5K0.00%+277+30.8%Added
Missouri Trust & Investment Co1,330$129.2K0.04%00.0%Unchanged
Peoples Financial Services Corp.1,400$136.0K0.06%−79−5.3%Reduced
Lavaca Capital LLC1,400$136.0K0.02%00.0%Unchanged
Wellington-Altus USA Inc.1,412$137.1K0.10%+1,412New
Larson Financial Group LLC1,489$144.7K0.00%−142−8.7%Reduced
Trust Co of Toledo NA1,525$148.1K0.01%00.0%Unchanged
Catalyst Capital Advisors LLC1,525$148.1K0.00%+656+75.5%Added
NBC Securities, Inc.1,529$148.5K0.01%+111+7.8%Added
Covestor Ltd1,547$150.0K0.08%+200+14.8%Added
Cheviot Value Management, LLC1,638$161.7K0.02%00.0%Unchanged
Umb Bank N A1,705$165.6K0.00%+158+10.2%Added
ORG Wealth Partners, LLC1,746$169.6K0.04%+112+6.9%Added
Wolff Wiese Magana LLC1,768$171.7K0.09%00.0%Unchanged
Smithfield Trust Co1,871$183.0K0.01%+36+2.0%Added
J.Safra Asset Management Corp1,900$184.5K0.01%+838+78.9%Added
Quent Capital, LLC1,900$184.6K0.01%−26−1.3%Reduced
Miller Capital Partners, Inc.1,935$187.9K0.10%+1,935New
South State Corp.2,021$196.3K0.01%+175+9.5%Added
LVW Advisors, LLC2,060$200.1K0.02%+2,060New
Johnson Financial Group, Inc.2,086$202.6K0.01%−6,855−76.7%Reduced
J.W. Cole Advisors, Inc.2,425$203.6K0.00%+2,425New
Pavion Blue Capital, LLC2,100$204.0K0.08%+2,100New
Connecticut Wealth Management, LLC2,111$205.0K0.01%+2,111New
Prelude Capital Management, LLC2,113$205.2K0.02%+2,113New
Integrated Advisors Network LLC2,124$206.3K0.01%−568−21.1%Reduced
Bridgewater Advisors Inc.2,157$207.3K0.01%+2,157New
Relyea Zuckerberg Hanson LLC2,163$210.1K0.02%−194−8.2%Reduced
OpenArc Corporate Advisory, LLC2,163$210.1K0.00%+2,163New
Transcend Wealth Collective, LLC2,176$211.4K0.02%−404−15.7%Reduced
Norden Group LLC2,184$212.1K0.02%+2,184New
BSW Wealth Partners2,198$213.5K0.03%−138−5.9%Reduced
Keel Point, LLC2,203$214.0K0.01%−146−6.2%Reduced
Haverford Trust Co2,211$214.8K0.00%+2,211New
TCG Advisory Services, LLC2,215$215.1K0.01%+2,215New
Thurston, Springer, Miller, Herd & Titak, Inc.2,235$217.1K0.08%+2,235New
Genesis Private Wealth, LLC2,239$217.5K0.07%−54−2.4%Reduced
LGT Fund Management Co Ltd.2,230$218.9K0.02%−580−20.6%Reduced
Retirement Planning Group2,259$219.4K0.01%+2,259New
Simplicity Wealth,LLC2,260$219.5K0.01%−1,359−37.6%Reduced
Alteri Wealth LLC2,263$219.8K0.07%+2,263New
Wealthspire Advisors, LLC2,268$220.3K0.00%+1,993+724.7%Added
Turtle Creek Wealth Advisors, LLC2,268$220.3K0.02%+2,268New
Grant Private Wealth Management Inc2,289$222.3K0.13%−38−1.6%Reduced
Jacobi Capital Management LLC2,292$222.6K0.01%+2,292New
SmartHarvest Portfolios, LLC2,307$224.1K0.08%+2,307New
Ancora Advisors, LLC2,310$224.4K0.00%+274+13.5%Added
Fukoku Mutual Life Insurance Co2,312$224.6K0.01%−608−20.8%Reduced
Cooper Financial Group2,328$226.1K0.02%+2,328New
Independent Wealth Network Inc.2,347$228.0K0.07%+2,347New
Allegheny Financial Group LTD2,364$229.6K0.03%+3+0.1%Added
QSV Equity Investors LLC2,385$231.7K0.34%−29−1.2%Reduced
Pinnacle Wealth Planning Services, Inc.2,387$231.8K0.02%+9+0.4%Added
Alpha Family Trust2,400$233.1K0.11%00.0%Unchanged
Perennial Investment Advisors, LLC2,414$234.4K0.02%−3−0.1%Reduced
Alpha Cubed Investments, LLC2,414$234.5K0.01%00.0%Unchanged
Wesbanco Bank Inc2,437$236.7K0.01%−55−2.2%Reduced
Hibernia Wealth Partners, LLC2,437$236.7K0.07%+2,437New
Fi3 FINANCIAL ADVISORS, LLC2,449$237.9K0.07%−378−13.4%Reduced
AlphaCentric Advisors LLC2,458$238.7K0.24%+2,458New
Conning Inc.2,469$239.8K0.01%−118−4.6%Reduced
Stonebridge Financial Group, LLC2,476$240.5K0.21%+2,476New
Penserra Capital Management LLC2,508$242.0K0.00%+212+9.2%Added
Caitong International Asset Management Co., Ltd2,537$246.4K0.06%+2,535+126,750.0%Added
Cerro Pacific Wealth Advisors LLC2,540$246.7K0.07%+256+11.2%Added
Accurate Wealth Management, LLC2,520$247.7K0.03%+98+4.0%Added
Isthmus Partners, LLC2,550$247.7K0.03%00.0%Unchanged
L2 Asset Management, LLC2,551$247.8K0.03%+276+12.1%Added
Kingsview Wealth Management, LLC2,571$249.8K0.00%−168−6.1%Reduced
Kingswood Wealth Advisors, LLC2,584$251.0K0.01%+39+1.5%Added
Claret Asset Management Corp2,598$252.0K0.03%−6−0.2%Reduced
Great Lakes Advisors, LLC2,597$252.2K0.00%00.0%Unchanged
Baader Bank INC2,633$252.5K0.02%−5,817−68.8%Reduced
Ted Buchan & Co2,613$253.8K0.09%00.0%Unchanged
HBK Sorce Advisory LLC2,999$254.4K0.01%+106+3.7%Added
Orgel Wealth Management, LLC2,623$254.8K0.01%+118+4.7%Added
Patton Fund Management, Inc.2,634$255.8K0.03%−288−9.9%Reduced
R Squared Ltd2,642$256.6K0.12%−17,686−87.0%Reduced
Caerus Investment Advisors, LLC2,649$257.3K0.09%−5,441−67.3%Reduced
Advisory Alpha, LLC2,649$257.4K0.01%−39−1.5%Reduced
VARCOV Co.2,681$260.4K0.10%+2,681New
Smartleaf Asset Management LLC2,664$261.6K0.01%+266+11.1%Added
Banco BTG Pactual S.A.2,700$262.3K0.05%00.0%Unchanged
Central Trust Co2,703$262.6K0.01%−86−3.1%Reduced