$NDAQ

$106.39 +$0.84 (0.8%) Pre-market

$NDAQ Overview Financial Statements SEC Filings Executives News Red Flags Capital Raising Ownership Insider Transactions Congressional Trades

Ownership

13F as of Q2 2026 · 555.0M shares outstanding

Who owns NDAQ?

By type of holder

Institutions 85.2% Insiders 14.8% Everyone else 0.0%

Concentration Top 10 holders own 52.4%

Investor AB 10.5% · BlackRock, Inc. 6.7%

Institutional ownership

85.2%

+0.8 pts vs last qtr

Institutional holders

1,086

-15 vs last qtr

Net shares bought

+4.7M

by institutions in Q2 2026

New / sold out

117 / 132

positions opened vs closed

How is ownership changing?

Institutions, last 8 quarters

Biggest buyers in Q2 2026

Norges Bank NEW +6.7M
Jane Street Group, LLC +2.9M

Biggest sellers in Q2 2026

Wellington Management Group LLP −5.9M
Massachusetts Financial Services Co /ma/ −5.8M

Who is planning to sell?

Notices of proposed sale, last 12 months

$91.1M

28 notices from 8 people

Shares covered

943.5K

0.17% of the company

Arranged in advance

89%

of the value is under a 10b5-1 plan

Under a 10b5-1 plan No plan

Largest proposed sellers

Adena T. Friedman Officer 10b5-1 $78.3M
P C Griggs Officer $3.5M

Every notice on Red Flags →

A Form 144 is notice of a planned sale, not the sale itself. What insiders actually sold is on Insider Transactions.

Is your stake being diluted?

Diluted share count, FY2016–FY2025

+14.3%

+1.49% a year

Each share's claim on the business

−12.5%

shrank without buying or selling a share

Spent on buybacks vs paid in stock

$2.93B vs $1.02B

over 10 fiscal years

Diluted shares, split-adjusted

Buybacks Stock-based comp

How patient are the owners?

Institutional shares by how long they've been held

5+ years77% 3–5 years10% 1–3 years9% Under 1 year4%

Quarterly turnover

7.1%

of institutional shares changed hands

Top 10 managers, median time held

5 years

Super Investors

Investment managers reporting NDAQ on Form 13F

Holder	Shares	% of company	Change vs last qtr	Held since	% of their book
IA Investor AB	58.4M	10.53%	+56.8K (+0.1%)	≤2021	32.0%
Shares held by quarter Peak holding58.4M (Q2'26) Change over 8 quarters+256.8K Share of the company10.530% Investor AB's full portfolio →
B BlackRock, Inc.	37.2M	6.70%	−975.7K (−2.6%)	≤2021	0.0%
Shares held by quarter Peak holding40.2M (Q3'25) Change over 8 quarters+3.3M Share of the company6.700% BlackRock, Inc.'s full portfolio →

Investor AB

58.4M

% of company

10.53%

Change vs last qtr

+56.8K (+0.1%)

Held since

≤2021

BlackRock, Inc.

37.2M

% of company

6.70%

Change vs last qtr

−975.7K (−2.6%)

Held since

≤2021

28 more super investors behind a free account

See every manager holding Nasdaq Inc, how their position has changed, and how long they've held it.

Institutional Funds

Mutual funds and ETFs reporting NDAQ on Form N-PORT; together they hold 34.4% of the company

Fund	Position value	Shares	% of company	% of the fund	As of
VT Vanguard Total Stock Market Index Fund Vanguard Index Funds	$1.27B	16.2M	2.91%	0.06%	June 30, 2026
VW Vanguard Wellington Fund Vanguard Wellington Fund	$1.12B	12.1M	2.17%	0.90%	May 31, 2026

Vanguard Total Stock Market Index Fund

Vanguard Index Funds

Position value

$1.27B

% of company

2.91%

% of the fund

0.06%

As of

June 30, 2026

Vanguard Wellington Fund

Position value

$1.12B

% of company

2.17%

% of the fund

0.90%

As of

May 31, 2026

23 more funds behind a free account

See every fund holding Nasdaq Inc and how much of the fund the position is.

Insiders and 5%+ holders

From Forms 3/4/5 and Schedules 13D/G

Holder	Shares	% of company	Change vs last qtr	8 quarters	Held since	% of their book
AS Argus Seller, LP 5%+ holder 13D · 4.4%	25.5M	4.59%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company4.590% Disclosed stake13D · 4.4% View the 13D/G filing →
TB Thoma Bravo UGP, LLC 5%+ holder 13D · 4.4%	25.5M	4.59%	—	—	—	—
This holder reports through Schedule 13D/G, not a quarterly 13F. Share of the company4.590% Disclosed stake13D · 4.4% View the 13D/G filing →

Argus Seller, LP

5%+ holder13D · 4.4%

25.5M

% of company

4.59%

Change vs last qtr

—

Held since

—

Thoma Bravo UGP, LLC

5%+ holder13D · 4.4%

25.5M

% of company

4.59%

Change vs last qtr

—

Held since

—

1 more holders behind a free account

See every insider and 5%+ holder of Nasdaq Inc.

Comments