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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 9 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
Abound Wealth Management115$11.2K0.00%+5+4.5%Added
Cherry Tree Wealth Management, LLC114$11.1K0.00%00.0%Unchanged
Eastern Bank114$11.1K0.00%+14+14.0%Added
Catherine Avery Investment Management LLC112$10.9K0.01%00.0%Unchanged
SJS Investment Consulting Inc.110$10.7K0.00%+91+478.9%Added
Meeder Asset Management Inc106$10.3K0.00%+106New
Brooklands Fund Management Ltd105$10.2K0.01%+105New
NFJ Investment Group, LLC103$10.0K0.00%00.0%Unchanged
Valley National Advisers Inc103$10.0K0.00%00.0%Unchanged
Financial Freedom, LLC103$9.99K0.00%00.0%Unchanged
1 North Wealth Services LLC102$9.91K0.00%00.0%Unchanged
Strategic Wealth Partners, Ltd.102$9.91K0.00%00.0%Unchanged
Y.D. More Investments Ltd425$9.81K0.00%−5−1.2%Reduced
Howard Hughes Medical Institute97$9.42K0.01%00.0%Unchanged
Plante Moran Financial Advisors, LLC96$9.32K0.00%00.0%Unchanged
Red Tortoise LLC93$9.03K0.00%00.0%Unchanged
Align Financial, LLC9,033$9.03K0.01%+9,033New
Avion Wealth101$9.00K0.00%00.0%Unchanged
Kilter Group LLC88$8.55K0.00%00.0%Unchanged
High Note Wealth, LLC85$8.26K0.00%+3+3.7%Added
Ogorek Anthony Joseph83$8.00K0.00%+26+45.6%Added
Phillip James Consulting Co.81$8.00K0.14%+81New
Laurel Wealth Advisors LLC76$7.38K0.00%+76New
Commonwealth Retirement Investments LLC76$7.38K0.00%+76New
Carolina Wealth Advisors, LLC74$7.19K0.00%00.0%Unchanged
Hanson & Doremus Investment Management70$7.00K0.00%00.0%Unchanged
Vermillion & White Wealth Management Group, LLC72$6.99K0.00%00.0%Unchanged
Indiana Trust & Investment Management CO69$6.70K0.00%00.0%Unchanged
Key Financial Inc69$6.70K0.00%00.0%Unchanged
RMG Wealth Management LLC66$6.53K0.00%+66New
JNBA Financial Advisors65$6.31K0.00%+14+27.5%Added
Kohmann Bosshard Financial Services, LLC65$6.31K0.00%+65New
Ares Financial Consulting, LLC63$6.12K0.01%+63New
Alerus Financial NA60$5.83K0.00%−34−36.2%Reduced
BankPlus Trust Department60$5.83K0.00%00.0%Unchanged
ORG Partners LLC59$5.73K0.00%−3−4.8%Reduced
Phoenix Holdings Ltd.19,287$5.68K0.00%−7,607−28.3%Reduced
DHJJ Financial Advisors, Ltd.57$5.55K0.00%+57New
Wilkerson Advisory Group LLC57$5.54K0.00%+57New
Plato Investment Management Ltd54$5.27K0.00%00.0%Unchanged
Bare Financial Services, Inc54$5.25K0.00%−9−14.3%Reduced
Accent Capital Management, LLC54$5.25K0.00%00.0%Unchanged
Triumph Capital Management53$5.18K0.00%+53New
Dogwood Wealth Management LLC52$5.05K0.00%+26+100.0%Added
Merrithew & Thorsten Inc55$5.00K0.01%+55New
Geneos Wealth Management Inc.50$4.86K0.00%00.0%Unchanged
North Star Investment Management Corp.49$4.76K0.00%+49New
Quattro Advisors LLC49$4.76K0.00%+49New
Mowery & Schoenfeld Wealth Management, LLC48$4.66K0.01%00.0%Unchanged
Acima Private Wealth, LLC46$4.47K0.00%00.0%Unchanged
Hughes Financial Services, LLC46$4.47K0.00%+3+7.0%Added
DiNuzzo Private Wealth, Inc.44$4.27K0.00%00.0%Unchanged
Bay Harbor Wealth Management, LLC44$4.27K0.00%+14+46.7%Added
Country Trust Bank42$4.08K0.00%00.0%Unchanged
Financial Consulate, Inc38$3.69K0.00%00.0%Unchanged
DAGCO, Inc.38$3.69K0.00%00.0%Unchanged
Crews Bank & Trust36$3.50K0.00%00.0%Unchanged
CBIZ Investment Advisory Services, LLC34$3.30K0.00%−16−32.0%Reduced
Bravera Wealth34$3.30K0.00%+34New
Principia Wealth Advisory, LLC33$3.21K0.00%+1+3.1%Added
Dunhill Financial, LLC33$3.20K0.00%+4+13.8%Added
ZRC Wealth Management, LLC32$3.11K0.00%+13+68.4%Added
HM Payson & Co30$2.91K0.00%−18−37.5%Reduced
Jackson, Grant Investment Advisers, Inc.30$2.91K0.00%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
MPWM Advisory Solutions, LLC25$2.43K0.00%00.0%Unchanged
Rialto Wealth Management, LLC24$2.33K0.00%+2+9.1%Added
Elevated Capital Advisors, LLC24$2.33K0.00%+24New
TFC Financial Management23$2.23K0.00%00.0%Unchanged
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
IFC & Insurance Marketing, Inc.21$2.00K0.00%+21New
Winnow Wealth LLC20$1.96K0.00%+11+122.2%Added
Motco19$1.84K0.00%00.0%Unchanged
Optima Capital LLC19$1.84K0.00%+19New
American Capital Advisory, LLC18$1.75K0.00%00.0%Unchanged
Merited Wealth, LLC18$1.75K0.00%+18New
Aspect Partners, LLC17$1.65K0.00%00.0%Unchanged
Turning Point Benefit Group, Inc.16$1.55K0.00%+11+220.0%Added
Imprint Wealth LLC15$1.46K0.01%−49−76.6%Reduced
WestEnd Advisors, LLC15$1.46K0.00%+5+50.0%Added
Signature Resources Capital Management, LLC14$1.36K0.00%00.0%Unchanged
HFM Investment Advisors, LLC13$1.26K0.00%−1−7.1%Reduced
1015 Capital Partners, LLC13$1.26K0.00%+13New
Atlantic Private Wealth, LLC10$9710.00%+10New
Prestige Wealth Management Group LLC9$8750.00%00.0%Unchanged
Valued Wealth Advisors LLC9$8750.00%00.0%Unchanged
Mascoma Wealth Management LLC9$8740.00%+9New
Investors Portfolio Services LLC8$8070.00%+8New
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
Quest 10 Wealth Builders, Inc.5$5330.00%00.0%Unchanged
Trust Co5$4860.00%+5New