Nasdaq, Inc.
Nasdaq, Inc. (NDAQ) Stock Ownership
Institutional vs insider vs public ownership from 13F and float data — top holders, activity, and insider trades below.
SEC 13F · FMP · NDAQ · as of Sep 30, 2025
Ownership Breakdown
1,084
Institutional Holders
▲ 24 vs Q2
$41.97B
Total Inst. Value
▼ $826.06M vs Q2
565.54M
Shares Outstanding
freeFloat 78.67%
474.70M
13F Shares Held
▼ 4.04M vs Q2
Institutional ownership = 13F shares ÷ total outstanding. Insider % = 100 − free float. Public % = free float − institution %. Data: FMP /symbol-positions-summary + /shares-float + SEC EDGAR.
Top Institutional Holders
NDAQ largest shareholders · institutional ownership
Q3 2025 · SEC 13F
Showing top 10 holders
| Holder | Shares | % Owned | Weight | Value | Reported | Change |
|---|---|---|---|---|---|---|
VANGUARD GROUP INC security & commodity brokers, dealers, exchanges & services | 59.65M | 10.39% | 10.39% | $5.28T | Nov 7, 2025 | ▲ 3.85M |
INVESTOR AB security & commodity brokers, dealers, exchanges & services | 58.18M | 10.13% | 10.13% | $5.15T | Nov 14, 2025 | — held |
BLACKROCK, INC. security & commodity brokers, dealers, exchanges & services | 40.17M | 7.00% | 7.00% | $3.55T | Nov 12, 2025 | ▲ 3.08M |
WELLINGTON MANAGEMENT GROUP LLP security & commodity brokers, dealers, exchanges & services | 39.80M | 6.93% | 6.93% | $3.52T | Nov 14, 2025 | ▼ 1.43M |
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ security & commodity brokers, dealers, exchanges & services | 26.37M | 4.59% | 4.59% | $2.33T | Oct 29, 2025 | ▼ 905.8K |
STATE STREET CORP security & commodity brokers, dealers, exchanges & services | 19.62M | 3.42% | 3.42% | $1.74T | Nov 14, 2025 | ▲ 1.40M |
GEODE CAPITAL MANAGEMENT, LLC security & commodity brokers, dealers, exchanges & services | 12.47M | 2.17% | 2.17% | $1.10T | Nov 12, 2025 | ▲ 1.02M |
FRANKLIN RESOURCES INC security & commodity brokers, dealers, exchanges & services | 10.58M | 1.84% | 1.84% | $936.06B | Nov 13, 2025 | ▼ 157.0K |
BANK OF AMERICA CORP /DE/ security & commodity brokers, dealers, exchanges & services | 6.93M | 1.21% | 1.21% | $613.09B | Feb 3, 2026 | ▼ 141.5K |
HARRIS ASSOCIATES L P security & commodity brokers, dealers, exchanges & services | 5.91M | 1.03% | 1.03% | $522.33B | Nov 14, 2025 | ▼ 1.87M |
Data from SEC Form 13F filings. Ownership bar normalised to largest holder. Change flags: isNew / isSoldOut / changeInSharesNumber (FMP extract-analytics/holder).
Institutional Activity
Q3 2025 vs prior quarter
Q3 2025
26
Increased
+19.23M shares0
New Positions
first time holders23
Decreased
−10.25M shares0
Sold Out
fully exitedNet shares change (top 50)
+8.99M
+19.23M / −10.25M
Net new holders
+3
0 new / 0 exited
Based on top 50 institutional holders by position size. Fields: isNew, isSoldOut, changeInSharesNumber (FMP extract-analytics/holder, limit=50).
Insider Buying vs Selling
NDAQ insider trading · insider activity
Source: SEC Form 4
Insiders have been primarily selling shares recently. Selling may be driven by pre-scheduled Rule 10b5-1 plans rather than negative sentiment.
10
Buy transactions
23
Sell transactions
0.43
Buy/Sell ratio
$0M
Total disposed
Recent Insider Transactions
Showing 10 most recent · Common Stock only
| Name · Role | Date | Type | Shares | Price | Value | After Trans. | Filing |
|---|---|---|---|---|---|---|---|
Griggs PC Nelson Pres. Capital Access Platforms | May 18, 2026 | Sale | 5,093 | $92.62 | $471.7K | 233.8K | Form 4 ↗ |
Peterson Bradley J EVP, CIO | Apr 28, 2026 | Sale | 7,710 | $90.82 | $700.2K | 141.0K | Form 4 ↗ |
Tal Cohen Pres. Market Platforms | Apr 27, 2026 | Sale | 15,518 | $90.75 | $1.41M | 215.2K | Form 4 ↗ |
Daly Michelle Lynn SVP, Controller & PAO | Apr 24, 2026 | Sale | 1,194 | $88.82 | $106.1K | 10.2K | Form 4 ↗ |
Daly Michelle Lynn SVP, Controller & PAO | Apr 24, 2026 | Sale | 129 | $88.85 | $11.5K | 10.1K | Form 4 ↗ |
Daly Michelle Lynn SVP, Controller & PAO | Apr 3, 2026 | Tax Withhold | 424 | $86.65 | $36.7K | 11.4K | Form 4 ↗ |
FRIEDMAN ADENA T Chair and CEO | Apr 3, 2026 | Tax Withhold | 8,075 | $86.65 | $699.7K | 1.98M | Form 4 ↗ |
Peterson Bradley J EVP, CIO | Apr 3, 2026 | Tax Withhold | 1,499 | $86.65 | $129.9K | 148.7K | Form 4 ↗ |
SKULE JEREMY EVP, CSO | Apr 3, 2026 | Tax Withhold | 1,017 | $86.65 | $88.1K | 104.6K | Form 4 ↗ |
Smith Bryan Everard EVP, CPO | Apr 3, 2026 | Tax Withhold | 813 | $86.65 | $70.4K | 74.9K | Form 4 ↗ |
Source: /insider-trading/search (FMP stable). Buy/Sell direction: acquisitionOrDisposition A=Buy, D=Sell. RSU vesting (M-Exempt) excluded from sentiment bar. All data from SEC EDGAR public filings.
About institutional & insider ownership
Nasdaq, Inc. (NDAQ) is primarily owned by institutional investors, who hold approximately 83.9% of total shares outstanding. Company insiders own approximately 21.33%, while retail and public investors account for the remaining 0.00%.
The largest institutional shareholder of Nasdaq, Inc. is VANGUARD GROUP INC, holding approximately 59.65 million shares — equal to 10.39% of outstanding shares — as of September 30, 2025.
A total of 1,084 institutional investors currently hold NDAQ stock, with a combined institutional value of approximately $41.97 billion as of the most recent 13F filing period.
Frequently asked questions
NDAQ ownershipNasdaq, Inc. (NDAQ) is primarily owned by institutional investors, who hold approximately 83.9% of shares. The largest shareholder is VANGUARD GROUP INC with a 10.39% stake. Company insiders hold 21.33%. Data sourced from SEC Form 13F as of September 30, 2025.