NDAQNasdaqSecurity & Commodity Brokers, Dealers, Exchanges & ServicesFiscal year ends December 31
NASDAQ, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Oct 22, 2026
$93.20−0.77 (-0.82%)
Close on Oct 19, 2026
- Market cap
- $52.91B
- P/E (TTM)
- 27.2
- Dividend yield
- 1.13%
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
84.7%
473M of 559M shares
Institutional holders
1,080
118 new, 116 sold out
Net institutional buying
6M
In Q2 2026
Insider trades, 12 months
3 buys · 27 sales
Net sold $65.08M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Borse Dubai Limited | 58,341,545 | 10.10% | 13D (active) amendment | Mar 22, 2024 |
| Innax AB | 58,182,426 | 10.10% | 13D (active) amendment | Nov 3, 2023 |
| Wellington Management Group LLP | 41,237,143 | 7.20% | 13G (passive) amendment | Jun 30, 2025 |
| Vanguard Capital Management | 35,762,865 | 6.29% | 13G (passive) | Mar 31, 2026 |
| Wellington Management Company LLP | 30,332,304 | 5.10% | 13G (passive) amendment | Jun 30, 2026 |
| BlackRock, Inc. | 30,160,290 | 5.20% | 13G (passive) | Dec 31, 2023 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of NDAQ | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Investor Ab | 58,439,208 | 10.45% | $4.61B | +56,782 | 31.98% |
| BlackRock, Inc. | 37,194,072 | 6.65% | $2.93B | −975,710 | 0.04% |
| Vanguard Capital Management LLC | 31,225,614 | 5.59% | $2.46B | −12,194 | 0.05% |
| Wellington Management Group Llp | 30,332,286 | 5.43% | $2.39B | −5,946,692 | 0.41% |
| Vanguard Portfolio Management LLC | 26,091,520 | 4.67% | $2.06B | −12,171 | 0.09% |
| Massachusetts Financial Services Co /Ma/ | 23,259,539 | 4.16% | $1.83B | −5,800,900 | 0.58% |
| State Street Corp | 20,181,861 | 3.61% | $1.59B | +467,156 | 0.05% |
| Geode Capital Management, LLC | 13,121,054 | 2.35% | $1.03B | +143,896 | 0.05% |
| Morgan Stanley | 11,355,733 | 2.03% | $895.06M | +1,100,229 | 0.05% |
| Franklin Resources Inc | 9,104,529 | 1.63% | $717.62M | −69,619 | 0.16% |
| Harris Associates L P | 8,092,686 | 1.45% | $637.87M | +82,503 | 0.85% |
| UBS Group AG | 7,883,784 | 1.41% | $621.40M | +895,415 | 0.08% |
| Bank Of America Corp /De/ | 7,658,344 | 1.37% | $603.63M | −185,330 | 0.04% |
| Norges Bank | 6,691,237 | 1.20% | $527.40M | New | 0.05% |
| Select Equity Group, L.P. | 5,646,320 | 1.01% | $445.04M | +83,194 | 2.20% |
| Ameriprise Financial Inc | 5,355,911 | 0.96% | $419.25M | +24,050 | 0.08% |
| Nuveen, LLC | 5,195,607 | 0.93% | $409.52M | −669,988 | 0.10% |
| Goldman Sachs Group Inc | 4,948,069 | 0.89% | $390.01M | +501,830 | 0.03% |
| Manufacturers Life Insurance Company, The | 4,793,430 | 0.86% | $377.82M | +258,090 | 0.29% |
| FMR LLC | 4,593,229 | 0.82% | $362.04M | +483,759 | 0.02% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 1,080 | 473M | 84.7% | 118 / 413 | 405 / 116 | 36M | 30M |
| Q1 2026 | 1,097 | 468M | 83.7% | 140 / 399 | 409 / 132 | 87M | 41M |
| Q4 2025 | 1,103 | 482M | 86.2% | 168 / 434 | 350 / 91 | 37M | 30M |
| Q3 2025 | 1,047 | 477M | 85.3% | 127 / 433 | 315 / 88 | 34M | 37M |
| Q2 2025 | 1,021 | 480M | 85.9% | 169 / 412 | 306 / 71 | 59M | 65M |
| Q1 2025 | 933 | 487M | 87.1% | 124 / 386 | 295 / 83 | 29M | 18M |
| Q4 2024 | 906 | 479M | 85.7% | 150 / 335 | 285 / 68 | 28M | 32M |
| Q3 2024 | 842 | 484M | 86.6% | 134 / 347 | 253 / 41 | 97M | 58M |
| Q2 2024 | 757 | 480M | 85.8% | 76 / 319 | 256 / 76 | 30M | 39M |
| Q1 2024 | 764 | 490M | 87.7% | 112 / 292 | 242 / 66 | 69M | 20M |
| Q4 2023 | 726 | 440M | 78.8% | 115 / 253 | 264 / 79 | 104M | 20M |
| Q3 2023 | 699 | 357M | 63.8% | 71 / 223 | 299 / 62 | 28M | 32M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of NDAQ | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 16,158,826 | 2.89% | $1.27B | 0.06% | Jun 30, 2026 |
| Vanguard Wellington Fund | 12,067,092 | 2.16% | $1.12B | 0.90% | May 31, 2026 |
| Vanguard 500 Index Fund | 11,578,155 | 2.07% | $912.59M | 0.05% | Jun 30, 2026 |
| MFS Value Fund | 11,378,090 | 2.04% | $1.05B | 2.06% | May 31, 2026 |
| Vanguard Mid-Cap Index Fund | 11,028,635 | 1.97% | $869.28M | 0.39% | Jun 30, 2026 |
| Vanguard Equity Income Fund | 6,445,382 | 1.15% | $508.03M | 0.78% | Jun 30, 2026 |
| iShares Core S&P 500 ETF | 6,145,975 | 1.10% | $484.43M | 0.05% | Jun 30, 2026 |
| Fidelity 500 Index Fund | 5,746,777 | 1.03% | $531.69M | 0.06% | May 31, 2026 |
| Franklin Rising Dividends Fund | 5,625,000 | 1.01% | $443.36M | 1.62% | Jun 30, 2026 |
| Vanguard Value Index Fund | 4,839,006 | 0.87% | $381.41M | 0.15% | Jun 30, 2026 |
| MFS Growth Fund | 4,517,738 | 0.81% | $417.98M | 1.00% | May 31, 2026 |
| Oakmark Fund | 3,725,305 | 0.67% | $293.63M | 1.22% | Jun 30, 2026 |
| Vanguard Mid-Cap Value Index Fund | 3,269,145 | 0.58% | $257.67M | 0.69% | Jun 30, 2026 |
| State Street(R) Financial Select Sector SPDR(R) ETF | 3,021,801 | 0.54% | $238.18M | 0.46% | Jun 30, 2026 |
| Vanguard Windsor Ii Fund | 2,605,366 | 0.47% | $245.40M | 0.37% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Adena T. Friedman | Chair and CEO, Director | 2,130,866 | 0.38% | Apr 7, 2026 |
| Jeremy Skule | EVP, CSO | 100,073 | 0.02% | Sep 24, 2026 |
| PC Nelson Griggs | Pres. Capital Access Platforms | 201,775 | 0.04% | Aug 12, 2026 |
| Bradley J. Peterson | EVP, CIO | 122,293 | 0.02% | Aug 11, 2026 |
| Bryan Everard Smith | EVP, CPO | 67,647 | 0.01% | Aug 5, 2026 |
| Cohen Tal | Pres. Market Platforms | 215,208 | 0.04% | Apr 29, 2026 |
| Michelle Lynn Daly | SVP, Controller & PAO | 10,089 | 0.00% | Apr 28, 2026 |
| John Zecca | EVP, Global CLO | 153,334 | 0.03% | Apr 7, 2026 |
| Sarah Youngwood | EVP & CFO | 74,558 | 0.01% | Apr 2, 2026 |
| Johan Torgeby | Director | 43,495 | 0.01% | Jun 12, 2026 |
| Paul Holden Spaht Jr. | Director | 13,399 | 0.00% | Jun 12, 2026 |
| Kathryn A. Koch | Director | 10,743 | 0.00% | Jun 12, 2026 |
| Alfred W. Zollar | Director | 58,281 | 0.01% | Jun 12, 2026 |
| Charlene T. Begley | Director | 48,999 | 0.01% | Jun 12, 2026 |
| Jeffery W. Yabuki | Director | 23,019 | 0.00% | Jun 12, 2026 |
| Michael R. Splinter | Director | 233,213 | 0.04% | Jun 12, 2026 |
| Essa Kazim | Director | 146,917 | 0.03% | Jun 12, 2026 |
| Thomas A. Kloet | Director | 105,268 | 0.02% | Jun 12, 2026 |
| Melissa Arnoldi | Director | 55,515 | 0.01% | Jun 12, 2026 |
| Toni Townes-Whitley | Director | 23,469 | 0.00% | Jun 12, 2026 |
| AB Innax | 10% owner | 37,398,284 | 6.69% | Jun 15, 2026 |
| Ab Investor | 10% owner | 58,439,208 | 10.45% | Jun 15, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Jeremy Skule EVP, CSO | Sep 22, 2026 | Sale(10b5-1 plan) | −1,125 | $95.00 | $106.88K | 100,073 |
| Jeremy Skule EVP, CSO | Sep 10, 2026 | Sale(10b5-1 plan) | −1,125 | $94.22 | $106.00K | 101,198 |
| Jeremy Skule EVP, CSO | Aug 10, 2026 | Sale(10b5-1 plan) | −2,250 | $94.75 | $213.19K | 102,323 |
| PC Nelson Griggs Pres. Capital Access Platforms | Aug 10, 2026 | Sale | −3,226 | $96.16 | $310.21K | 201,775 |
| Bradley J. Peterson EVP, CIO | Aug 7, 2026 | Sale | −6,000 | $95.55 | $573.30K | 122,293 |
| Bryan Everard Smith EVP, CPO | Aug 3, 2026 | Sale(10b5-1 plan) | −1,556 | $95.07 | $147.93K | 67,647 |
| PC Nelson Griggs Pres. Capital Access Platforms | Jul 29, 2026 | Sale | −11,010 | $96.35 | $1.06M | 205,001 |
| PC Nelson Griggs Pres. Capital Access Platforms | Jul 27, 2026 | Sale | −11,010 | $93.96 | $1.03M | 216,011 |
| Bradley J. Peterson EVP, CIO | Jul 24, 2026 | Sale | −13,000 | $92.61 | $1.20M | 128,293 |
| PC Nelson Griggs Pres. Capital Access Platforms | Jul 24, 2026 | Sale | −6,777 | $92.53 | $627.08K | 227,021 |
| Bryan Everard Smith EVP, CPO | Jul 1, 2026 | Sale(10b5-1 plan) | −3,000 | $80.00 | $240.00K | 69,203 |
| Bryan Everard Smith EVP, CPO | Jun 11, 2026 | Sale(10b5-1 plan) | −3,000 | $86.91 | $260.73K | 71,944 |
| Ab Investor 10% owner | Jun 11, 2026 | Buy | +56,782 | $85.98 | $4.88M | 58,439,208 |
| Johan Torgeby Director | Jun 11, 2026 | Tax withholding | −300 | $86.72 | $26.02K | 43,495 |
| Essa Kazim Director | Jun 11, 2026 | Tax withholding | −622 | $86.72 | $53.94K | 146,917 |
| Thomas A. Kloet Director | Jun 10, 2026 | Award | +4,554 | – | – | 36,559 |
| Jeffery W. Yabuki Director | Jun 10, 2026 | Award | +4,612 | – | – | 22,959 |
| Paul Holden Spaht Jr. Director | Jun 10, 2026 | Award | +2,998 | – | – | 13,399 |
| Kathryn A. Koch Director | Jun 10, 2026 | Award | +3,171 | – | – | 10,743 |
| Charlene T. Begley Director | Jun 10, 2026 | Award | +2,998 | – | – | 48,999 |
| Melissa Arnoldi Director | Jun 10, 2026 | Award | +4,324 | – | – | 55,515 |
| Alfred W. Zollar Director | Jun 10, 2026 | Award | +4,497 | – | – | 58,281 |
| Johan Torgeby Director | Jun 10, 2026 | Award | +2,998 | – | – | 43,795 |
| Essa Kazim Director | Jun 10, 2026 | Award | +4,151 | – | – | 147,539 |
| Michael R. Splinter Director | Jun 10, 2026 | Award | +5,246 | – | – | 217,988 |
| Toni Townes-Whitley Director | Jun 10, 2026 | Award | +2,998 | – | – | 23,469 |
| PC Nelson Griggs Pres. Capital Access Platforms | May 18, 2026 | Sale | −5,093 | $92.62 | $471.71K | 233,798 |
| Bradley J. Peterson EVP, CIO | Apr 28, 2026 | Sale | −7,710 | $90.82 | $700.22K | 141,035 |
| Cohen Tal Pres. Market Platforms | Apr 27, 2026 | Sale | −15,518 | $90.75 | $1.41M | 215,208 |
| Michelle Lynn Daly SVP, Controller & PAO | Apr 24, 2026 | Sale | −129 | $88.85 | $11.46K | 10,089 |
| Michelle Lynn Daly SVP, Controller & PAO | Apr 24, 2026 | Sale | −1,194 | $88.82 | $106.05K | 10,218 |
| Bryan Everard Smith EVP, CPO | Apr 3, 2026 | Tax withholding | −813 | $86.65 | $70.45K | 74,944 |
| Bradley J. Peterson EVP, CIO | Apr 3, 2026 | Tax withholding | −1,499 | $86.65 | $129.89K | 148,745 |
| PC Nelson Griggs Pres. Capital Access Platforms | Apr 3, 2026 | Tax withholding | −1,565 | $86.65 | $135.61K | 238,891 |
| Michelle Lynn Daly SVP, Controller & PAO | Apr 3, 2026 | Tax withholding | −424 | $86.65 | $36.74K | 11,412 |
| Adena T. Friedman Chair and CEO, Director | Apr 3, 2026 | Tax withholding | −8,075 | $86.65 | $699.70K | 1,983,866 |
| Cohen Tal Pres. Market Platforms | Apr 3, 2026 | Tax withholding | −1,565 | $86.65 | $135.61K | 230,726 |
| Jeremy Skule EVP, CSO | Apr 3, 2026 | Tax withholding | −1,017 | $86.65 | $88.12K | 104,573 |
| John Zecca EVP, Global CLO | Apr 3, 2026 | Tax withholding | −780 | $86.65 | $67.59K | 153,334 |
| Jeremy Skule EVP, CSO | Apr 1, 2026 | Tax withholding | −2,332 | $84.89 | $197.96K | 105,590 |
| Jeremy Skule EVP, CSO | Apr 1, 2026 | Award | +7,633 | – | – | 107,922 |
| Bradley J. Peterson EVP, CIO | Apr 1, 2026 | Tax withholding | −2,761 | $84.89 | $234.38K | 150,244 |
| Bradley J. Peterson EVP, CIO | Apr 1, 2026 | Award | +8,103 | – | – | 153,005 |
| Cohen Tal Pres. Market Platforms | Apr 1, 2026 | Award | +15,267 | – | – | 243,432 |
| Cohen Tal Pres. Market Platforms | Apr 1, 2026 | Tax withholding | −11,141 | $84.89 | $945.76K | 232,291 |
| PC Nelson Griggs Pres. Capital Access Platforms | Apr 1, 2026 | Award | +11,743 | – | – | 243,764 |
| PC Nelson Griggs Pres. Capital Access Platforms | Apr 1, 2026 | Tax withholding | −3,308 | $84.89 | $280.82K | 240,456 |
| Michelle Lynn Daly SVP, Controller & PAO | Apr 1, 2026 | Award | +2,025 | – | – | 12,668 |
| Michelle Lynn Daly SVP, Controller & PAO | Apr 1, 2026 | Tax withholding | −832 | $84.89 | $70.63K | 11,836 |
| John Zecca EVP, Global CLO | Apr 1, 2026 | Tax withholding | −2,097 | $84.89 | $178.01K | 154,114 |
| John Zecca EVP, Global CLO | Apr 1, 2026 | Award | +7,339 | – | – | 156,211 |
| Bryan Everard Smith EVP, CPO | Apr 1, 2026 | Tax withholding | −2,149 | $84.89 | $182.43K | 75,757 |
| Bryan Everard Smith EVP, CPO | Apr 1, 2026 | Award | +7,046 | – | – | 77,906 |
| Sarah Youngwood EVP & CFO | Apr 1, 2026 | Award | +15,267 | – | – | 74,558 |
| Adena T. Friedman Chair and CEO, Director | Apr 1, 2026 | Option exercise | +113,611 | $22.22 | $2.52M | 2,079,362 |
| Adena T. Friedman Chair and CEO, Director | Apr 1, 2026 | Sale(10b5-1 plan) | −113,611 | $85.44 | $9.71M | 1,965,751 |
| Adena T. Friedman Chair and CEO, Director | Apr 1, 2026 | Award | +39,929 | – | – | 2,005,680 |
| Adena T. Friedman Chair and CEO, Director | Apr 1, 2026 | Tax withholding | −13,739 | $84.89 | $1.17M | 1,991,941 |
| Adena T. Friedman Chair and CEO, Director | Mar 11, 2026 | Gift | −56,786 | – | – | 1,965,751 |
| Adena T. Friedman Chair and CEO, Director | Mar 11, 2026 | Gift | −56,786 | – | – | 2,022,537 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Skule Jeremy Officer | Oct 13, 2026 | 1,125 | $105.90K | Oct 12, 2026 | Performance Shares |
| Skule Jeremy Officer | Sep 22, 2026 | 1,125 | $106.88K | Sep 22, 2026 | Performance Shares |
| Skule Jeremy Officer | Sep 10, 2026 | 1,125 | $106.00K | Sep 10, 2026 | Restricted Stock |
| Skule Jeremy Officer | Aug 10, 2026 | 2,250 | $213.19K | Aug 10, 2026 | Restricted Stock |
| C. Griggs P Officer | Aug 10, 2026 | 3,226 | $310.22K | Aug 10, 2026 | Restricted Stock |
| J. Peterson Bradley Officer | Aug 7, 2026 | 6,000 | $573.30K | Aug 7, 2026 | Performance Shares |
| Smith Bryan Officer | Aug 3, 2026 | 1,556 | $147.93K | Aug 3, 2026 | Performance Shares |
| C. Griggs P Officer | Jul 29, 2026 | 11,010 | $1.06M | Jul 29, 2026 | Restricted Stock |
| C. Griggs P Officer | Jul 27, 2026 | 11,010 | $1.03M | Jul 27, 2026 | Restricted Stock |
| C. Griggs P Officer | Jul 24, 2026 | 6,777 | $627.08K | Jul 24, 2026 | Performance Shares |
| J. Peterson Bradley Officer | Jul 24, 2026 | 13,000 | $1.20M | Jul 24, 2026 | Performance Shares |
| Smith Bryan Officer | Jul 1, 2026 | 3,000 | $240.00K | Jul 1, 2026 | Performance Shares |
| Smith Bryan Officer | Jun 11, 2026 | 3,000 | $260.73K | Jun 11, 2026 | Performance and Restricted Stock |
| C. Griggs P Officer | May 18, 2026 | 5,093 | $471.69K | May 18, 2026 | Restricted Stock |
| J. Peterson Bradley Officer | Apr 28, 2026 | 7,710 | $700.21K | Apr 28, 2026 | Performance Shares |