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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
Avidian Wealth Solutions, LLC2,713$263.5K0.01%+133+5.2%Added
Longboard Asset Management, LP2,753$267.4K1.70%00.0%Unchanged
PDS Planning, Inc2,809$272.8K0.02%−21−0.7%Reduced
Focus Financial Network, Inc.2,828$274.7K0.01%00.0%Unchanged
Peddock Capital Advisors, LLC2,829$274.8K0.06%00.0%Unchanged
Waterloo Capital, L.P.2,834$275.3K0.02%+2,834New
PharVision Advisers, LLC2,836$275.5K0.14%−1,876−39.8%Reduced
Jackson Thornton Asset Management, LLC2,736$275.5K0.03%+268+10.9%Added
MainStreet Investment Advisors LLC2,848$276.6K0.04%−573−16.7%Reduced
Hamilton Capital Partners Inc.2,867$278.5K0.01%−261−8.3%Reduced
Strategic Investment Advisors2,870$278.7K0.02%−359−11.1%Reduced
Dynamic Advisor Solutions LLC2,884$280.1K0.01%−255−8.1%Reduced
Victrix Investment Advisors2,900$281.7K0.11%+2,900New
Washington Trust Bank2,928$284.4K0.02%00.0%Unchanged
Weaver Consulting Group2,939$285.5K0.07%+16+0.5%Added
Atomi Financial Group, Inc.2,940$285.6K0.01%−302−9.3%Reduced
National Asset Management, Inc.2,944$286.0K0.01%−470−13.8%Reduced
Harvest Fund Management Co., Ltd2,957$287.0K0.01%00.0%Unchanged
CWA Asset Management Group, LLC2,956$287.2K0.01%+24+0.8%Added
Endowment Wealth Management, Inc.2,965$288.0K0.13%−78−2.6%Reduced
Westpac Banking Corp2,982$289.6K0.02%+458+18.1%Added
Fruth Investment Management3,000$291.0K0.08%00.0%Unchanged
Romano Brothers and Company3,000$291.4K0.03%00.0%Unchanged
Caldwell Sutter Capital, Inc.3,000$291.4K0.12%00.0%Unchanged
Options Solutions, LLC3,000$291.4K0.21%+3,000New
Waddell & Associates, LLC3,005$291.9K0.02%+645+27.3%Added
Steel Peak Wealth Management LLC3,012$292.6K0.01%−426−12.4%Reduced
Fiduciary Family Office, LLC3,022$293.6K0.08%+31+1.0%Added
Sentinus, LLC3,023$293.7K0.03%+3,023New
Howard Capital Management Inc.3,052$296.4K0.00%+15+0.5%Added
Trust Co of Vermont3,092$300.3K0.01%+49+1.6%Added
Pines Wealth Management, LLC3,093$300.4K0.10%+3,093New
New World Advisors LLC3,109$302.0K0.05%+4+0.1%Added
Mystic Asset Management, Inc.3,112$302.3K0.07%00.0%Unchanged
Frec Markets, Inc.3,119$303.0K0.09%+3,119New
Zions Bancorporation, National Association3,126$303.6K0.01%+2,025+183.9%Added
Anchor Investment Management, LLC3,148$305.8K0.02%00.0%Unchanged
OneAscent Family Office, LLC3,153$306.3K0.21%+153+5.1%Added
Claro Advisors LLC3,161$307.0K0.04%+10.0%Added
Pinnacle Wealth Management Advisory Group, LLC3,175$308.4K0.02%+3,175New
Premier Path Wealth Partners, LLC3,180$308.9K0.04%+507+19.0%Added
Pinnacle Associates Ltd3,187$309.6K0.00%+3,187New
Carnegie Capital Asset Management, LLC3,204$311.2K0.01%+204+6.8%Added
Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.3,232$313.9K0.49%+3,232New
IHT Wealth Management, LLC3,252$315.9K0.01%+112+3.6%Added
Rothschild Investment LLC3,261$316.7K0.02%+21+0.6%Added
Larry Mathis Financial Planning, LLC3,265$317.1K0.28%+3,265New
SFMG, LLC3,266$317.2K0.02%+38+1.2%Added
Ledyard National Bank3,294$319.9K0.03%+15+0.5%Added
Investors Research Corp3,300$320.5K0.06%00.0%Unchanged
AlTi Global, Inc.3,310$321.5K0.01%+3,310New
CX Institutional3,311$322.0K0.01%−25−0.7%Reduced
Allworth Financial LP3,316$322.1K0.00%−23−0.7%Reduced
Delta Investment Management, LLC3,358$326.2K0.06%+300+9.8%Added
Parkside Financial Bank & Trust3,359$326.3K0.02%+118+3.6%Added
Savvy Advisors, Inc.3,395$329.8K0.01%−44−1.3%Reduced
Brookstone Capital Management3,407$330.9K0.00%−185−5.2%Reduced
Keynote Financial Services LLC3,425$332.7K0.19%−350−9.3%Reduced
nVerses Capital, LLC3,449$335.0K0.75%+3,449New
Davy Global Fund Management Ltd3,489$338.9K0.02%00.0%Unchanged
Cross Staff Investments Inc3,500$340.0K0.21%00.0%Unchanged
Harbour Investments, Inc.3,500$340.0K0.01%+87+2.5%Added
OneAscent Financial Services LLC3,516$341.5K0.03%+3,516New
Dana Investment Advisors, Inc.3,554$345.2K0.01%−62−1.7%Reduced
Aprio Wealth Management, LLC3,451$358.1K0.02%+3,451New
WBI Investments3,693$358.7K0.09%+3,693New
PFG Investments, LLC3,697$359.1K0.02%+10.0%Added
OneAscent Wealth Management LLC3,733$362.6K0.12%−654−14.9%Reduced
Redwood Financial Network Corp3,819$370.9K0.24%+1,235+47.8%Added
Livforsakringsbolaget Skandia, Omsesidigt3,826$371.6K0.01%00.0%Unchanged
Spire Wealth Management3,847$373.6K0.01%−130−3.3%Reduced
Cornerstone Wealth Group, LLC3,891$377.9K0.03%−173−4.3%Reduced
1248 Management, LLC3,947$383.4K0.21%00.0%Unchanged
Camden Capital, LLC4,021$390.7K0.02%00.0%Unchanged
Clearstead Advisors, LLC4,031$391.5K0.00%−485−10.7%Reduced
Pettee Investors, Inc.4,050$393.4K0.22%00.0%Unchanged
Retirement Planning Co of New England, Inc.4,050$393.4K0.16%−410−9.2%Reduced
Wedbush Securities Inc4,103$399.0K0.01%−446−9.8%Reduced
IFC Advisors LLC4,117$399.9K0.06%+28+0.7%Added
Qtron Investments LLC4,150$403.1K0.05%−400−8.8%Reduced
First National Trust Co4,163$404.4K0.01%−5−0.1%Reduced
Level Four Advisory Services, LLC4,174$405.4K0.01%−248−5.6%Reduced
McGuire Investment Group, LLC4,200$407.9K0.04%00.0%Unchanged
Navellier & Associates Inc4,231$411.0K0.05%+12+0.3%Added
Aptus Capital Advisors, LLC4,241$411.9K0.00%+882+26.3%Added
Gamco Investors, Inc. Et Al4,247$412.5K0.00%−199−4.5%Reduced
Commerzbank Aktiengesellschaft4,251$413.0K0.01%00.0%Unchanged
Edgestream Partners, L.P.4,269$414.6K0.01%+394+10.2%Added
Private Trust Co NA4,277$415.4K0.04%−195−4.4%Reduced
SBI Securities Co., Ltd.4,278$415.5K0.01%−119−2.7%Reduced
Fidelis Capital Partners, LLC4,302$417.8K0.03%−53−1.2%Reduced
Index Technologies Group LLC4,313$418.9K0.44%+4,313New
Cigna Investments Inc4,343$421.0K0.06%+297+7.3%Added
Beacon Pointe Advisors, LLC4,353$422.8K0.00%+1,822+72.0%Added
Tritonpoint Wealth, LLC4,422$429.5K0.04%−8,655−66.2%Reduced
Ritholtz Wealth Management4,428$430.1K0.01%+1,528+52.7%Added
Pine Valley Investments Ltd Liability Co4,441$431.3K0.02%−177−3.8%Reduced
Expressive Wealth LLC4,495$436.6K0.47%+4,495New
Marble Wealth, LLC4,540$441.0K0.06%+4,540New
Trust Asset Management LLC4,555$442.4K0.03%−142−3.0%Reduced