SEC ownership of NASDAQ, INC.

Top holders, 13D/G large-stake signals, insider positions, and transaction flow tied to CIK 0001120193.

Comparable stake leader

VANGUARD CAPITAL MANAGEMENT LLC

Disclosed value leader

Innax AB

Comparable rows

5/50

Latest evidence

30 Sep 2026

Top shareholders Insider holders Latest transactions

Public ticker: NDAQ on Nasdaq
Parsed ownership sources: 13D/G, 13F, and 3/4/5
Source: Parsed SEC ownership filingsUse: Compare filing families carefully
Largest SEC-reported holder: VANGUARD CAPITAL MANAGEMENT LLC
Ranking: Comparable ownership first, then disclosed value
Comparable ownership rows: 5 of 50
Meaning: Rows with safely comparable ownership %
Latest 13D/G holder: VANGUARD CAPITAL MANAGEMENT LLC
Source: Latest parsed Schedule 13D/G stake
Latest parsed ownership date: 30 Sep 2026
Freshness: Most recent filing date in this holder set
Issuer CIK: 0001120193
Issuer location: New York, NY

Ownership snapshot

Top shareholders of NASDAQ, INC. (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Start with comparable ownership when available, then verify the linked 13F, 13D/G, or 3/4/5 evidence.

Comparable stake leader

VANGUARD CAPITAL MANAGEME...

Disclosed value leader

Innax AB

Comparable rows

5/50

Latest evidence

30 Sep 2026

13D/G 13F 3/4/5 Lead comparable stake: 6.3% 45 rows are not safely comparable across share classes. 13D/G row: VANGUARD CAPITAL MANAGEMENT LLC Showing 1-8 of 50 holder rows.

Quick read

VANGUARD CAPITAL MANAGEMENT LLC leads the comparable SEC ownership view at 6.3%.

5 of 50 rows have a safely comparable ownership percentage. Use this as a filing-backed starting point, then open the detailed table for source links, reporting role, position value, share count, and filing date.

Open SEC evidence Opens VANGUARD CAPITAL MANAGEMENT LLC's linked filing trail.

Comparable ownership Top 5

VANGUARD CAPITAL MANAGEMENT LLC 6.3%

BlackRock, Inc. 6.2%

WELLINGTON MANAGEMENT GROUP LLP 5.4%

Argus Seller, LP 4.4%

MASSACHUSETTS FINANCIAL SERVICES ... 4.1%

Ownership % is shown only when SEC disclosures are safely comparable across share classes.

Detailed SEC evidence table Showing 1-8 of 50 holder rows

Holder	Evidence	Ownership %	Position	12M Net Δ	As of
VANGUARD CAPITAL MANAGEMENT LLC	13D/G 13F Vanguard Capital Management · Company 13D/G 13F	6.3% Reported 13D/G · 31 Mar 2026	$3,035,909,610 35,762,865 shares	$0	31 Mar 2026
BlackRock, Inc.	13D/G 13D/G	6.2% Reported 13D/G · 30 Sep 2026	$3,207,268,570 34,857,826 shares	$0	30 Sep 2026
WELLINGTON MANAGEMENT GROUP LLP	13D/G 13D/G	5.4% Reported 13D/G · 30 Jun 2026	$2,390,792,201 30,332,304 shares	-$859,519,410	30 Jun 2026
Argus Seller, LP	3/4/5 13D/G 10%+ Owner 3/4/5 13D/G	4.4% Reported 13D/G · 07 May 2025	$2,764,295,688 42,804,207 shares	—	29 Jul 2024
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	13D/G 13F Massachusetts Financial Services Company · Company 13D/G 13F	4.1% Reported 13D/G · 30 Jun 2026	$1,833,316,943 23,259,540 shares	-$457,226,938	30 Jun 2026
Innax AB	3/4/5 10%+ Owner 3/4/5	— denominator unverified	$5,024,603,103 58,439,208 shares	+$4,882,116	11 Jun 2026
INVESTOR AB	3/4/5 10%+ Owner 3/4/5	— denominator unverified	$5,024,603,103 58,439,208 shares	+$20,717,156	11 Jun 2026
Borse Dubai LTD	3/4/5 10%+ Owner 3/4/5	— denominator unverified	$3,383,634,585 58,341,545 shares	—	22 Mar 2024

How to read this table

Rows are grouped by holder and ranked first by SEC-reported ownership % when it is safely comparable, then by disclosed holdings value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

Forms 3/4/5 flow

Insider trading overview

Net insider flow leans to selling over the last 12 months. Net value: -$63,418,790.

Buys

$26,557,593

Insiders: 3

Sells

$89,976,382

Insiders: 8

Net

-$63,418,790

Shares: -627,639

Window

Last 12 months

4 rolling buckets

Buy value Sell value

Shares: 325,564 Shares: 953,203

Window (months)	Buy shares	Sell shares	Buy value	Sell value	Net value
0-3	0	34,702	$0	$3,610,367	-$3,610,367
3-6	113,564	65,922	$9,764,233	$6,143,391	+$3,620,842
6-9	12,000	241,341	$958,320	$21,172,319	-$20,213,999
9-12	200,000	611,238	$15,835,040	$59,050,306	-$43,215,266

Reporting owners

Insider holders from Forms 3/4/5

Showing 1-20 of 36 reporting-owner rows connected to NASDAQ, INC.. Open a relationship link for the CIK-to-CIK filing trail.

Rows

Largest Forms 3/4/5 holder

INVESTOR AB

Net 12M change

-$63.42M

Full value: -$63,418,791 · USD · 12-month change

Latest report

10 Nov 2026

Name	Relationship	Holdings Value	Past Year Net Change	Change %	Valuation	Report Date
INVESTOR AB	10%+ Owner	$5,024,603,103	+$20,717,156	+0.41%	Filing P/S	11 Jun 2026
Innax AB	10%+ Owner	$5,024,603,103	+$4,882,116	+0.1%	Filing P/S	11 Jun 2026
Borse Dubai LTD	10%+ Owner	$3,383,634,585			Filing P/S	22 Mar 2024
Argus Seller, LP	10%+ Owner	$2,764,295,688			Filing P/S	29 Jul 2024
Friedman Adena T.	Chair and CEO, Director	$206,945,254	-$76,059,951	-27%	Mixed	03 Apr 2026
Cohen Tal	Pres. Market Platforms	$21,934,809	-$2,979,376	-12%	Filing P/S	04 Nov 2026
Michael R. Splinter	Director	$19,797,451			Mixed	10 Jun 2026
Pc Nelson Griggs	Pres. Capital Access Platforms	$19,402,684	-$3,504,315	-15%	Filing P/S	10 Aug 2026
Borje Ekholm	Director	$13,496,210			Median	02 Nov 2026
John Zecca	EVP, Global CLO	$13,016,538	-$450,045	-3.3%	Mixed	03 Apr 2026
Essa Kazim	Director	$12,471,784			Mixed	10 Jun 2026
Bradley J. Peterson	Evp, Cio	$11,777,721	-$3,847,360	-25%	Filing P/S	04 Nov 2026
Jeremy Skule	Evp, Cso	$10,214,824	-$1,073,179	-9.5%	Filing P/S	10 Nov 2026
Thomas A. Kloet	Director	$8,936,200			Mixed	10 Jun 2026
Steven D. Black	Director	$8,492,315			Mixed	21 Jun 2023
Sarah Youngwood	Evp & Cfo	$7,241,818			Mixed	01 Apr 2026
Bryan Everard Smith	Evp, Cpo	$6,431,200	-$1,591,710	-20%	Filing P/S	03 Aug 2026
Alfred W. Zollar	Director	$4,947,474			Mixed	10 Jun 2026
Melissa Arnoldi	Director	$4,712,668			Mixed	10 Jun 2026
Bjorn Sibbern	Executive Vice President	$4,456,535			Mixed	06 Dec 2022

Recent insider transactions for NASDAQ, INC.

Showing up to 300 recent insider transactions from the last 12 months.

Insider	Symbol	Class	Transaction	%	SEC-reported value	SEC-reported price	Shares	Shares owned	Date	Ownership
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-2.33%	-$243,698	$108.31	-2,250	94,311	10 Nov 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.13%	-$250,088	$109.40	-2,286	200,501	04 Nov 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Sale	-4.37%	-$538,750	$107.75	-5,000	109,306	04 Nov 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.12%	-$247,326	$108.05	-2,289	202,787	03 Nov 2026	Direct
Borje Ekholm	NDAQ	Common Stock, par value $0.01 per share	Award	1%			1,449	146,682	02 Nov 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Sale	-3.37%	-$417,638	$104.75	-3,987	114,306	27 Oct 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Sale	-4.82%	-$1,073,703	$103.34	-10,390	205,076	23 Oct 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Sale	-3.27%	-$413,520	$103.38	-4,000	118,293	23 Oct 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.15%	-$106,875	$95.00	-1,125	96,561	20 Oct 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.14%	-$105,896	$94.13	-1,125	97,686	12 Oct 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.26%			-1,262	98,811	01 Oct 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.11%	-$106,875	$95.00	-1,125	100,073	22 Sep 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.1%	-$105,998	$94.22	-1,125	101,198	10 Sep 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Sale	-2.15%	-$213,188	$94.75	-2,250	102,323	10 Aug 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Sale	-1.57%	-$310,212	$96.16	-3,226	201,775	10 Aug 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 pershare	Sale	-4.68%	-$573,300	$95.55	-6,000	122,293	07 Aug 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Sale	-2.25%	-$147,929	$95.07	-1,556	67,647	03 Aug 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Sale	-5.1%	-$1,060,814	$96.35	-11,010	205,001	29 Jul 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Sale	-4.85%	-$1,034,500	$93.96	-11,010	216,011	27 Jul 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 pershare	Sale	-9.2%	-$1,203,930	$92.61	-13,000	128,293	24 Jul 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Sale	-2.9%	-$627,076	$92.53	-6,777	227,021	24 Jul 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Sale	-4.15%	-$240,000	$80.00	-3,000	69,203	01 Jul 2026	Direct
Investor Ab	NDAQ	Common Stock	Purchase	0.1%	$4,882,116	$85.98	56,782	58,439,208	11 Jun 2026	See Footnotes
Investor Ab	NDAQ	Common Stock	Purchase	0.1%	$4,882,116	$85.98	56,782	58,439,208	11 Jun 2026	See Footnotes
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Sale	-4%	-$260,730	$86.91	-3,000	71,944	11 Jun 2026	Direct
Johan Torgeby	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.69%			-300	43,495	11 Jun 2026	Direct
Essa Kazim	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.42%			-622	146,917	11 Jun 2026	Direct
Paul Holden Spaht Jr.	NDAQ	Common Stock, par value $0.01 per share	Award	28.8%			2,998	13,399	10 Jun 2026	Direct
Jeffery W. Yabuki	NDAQ	Common Stock, par value $0.01 per share	Award	25.1%			4,612	22,959	10 Jun 2026	Direct
Begley Charlene T.	NDAQ	Common Stock, par value $0.01 per share	Award	6.52%			2,998	48,999	10 Jun 2026	Direct
Kathryn A. Koch	NDAQ	Common Stock, par value $0.01 per share	Award	41.9%			3,171	10,743	10 Jun 2026	Direct
Alfred W. Zollar	NDAQ	Common Stock, par value $0.01 per share	Award	8.36%			4,497	58,281	10 Jun 2026	Direct
Thomas A. Kloet	NDAQ	Common Stock, par value $0.01 per share	Award	14.2%			4,554	36,559	10 Jun 2026	Direct
Toni Townes-Whitley	NDAQ	Common Stock, par value $0.01 per share	Award	14.6%			2,998	23,469	10 Jun 2026	Direct
Melissa Arnoldi	NDAQ	Common Stock, par value $0.01 per share	Award	8.45%			4,324	55,515	10 Jun 2026	Direct
Michael R. Splinter	NDAQ	Common Stock, par value $0.01 per share	Award	2.47%			5,246	217,988	10 Jun 2026	Direct
Johan Torgeby	NDAQ	Common Stock, par value $0.01 per share	Award	7.35%			2,998	43,795	10 Jun 2026	Direct
Essa Kazim	NDAQ	Common Stock, par value $0.01 per share	Award	2.89%			4,151	147,539	10 Jun 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Sale	-2.13%	-$471,714	$92.62	-5,093	233,798	18 May 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 pershare	Sale	-5.18%	-$700,222	$90.82	-7,710	141,035	28 Apr 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 pershare	Sale	-6.73%	-$1,408,258	$90.75	-15,518	215,208	27 Apr 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Sale	-11.6%	-$117,513	$88.82	-1,323	10,089	24 Apr 2026	Direct
Michelle Lynn Daly	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-3.58%			-424	11,412	03 Apr 2026	Direct
Friedman Adena T.	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.41%			-8,075	1,983,866	03 Apr 2026	Direct
Bradley J. Peterson	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1%			-1,499	148,745	03 Apr 2026	Direct
Jeremy Skule	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.96%			-1,017	104,573	03 Apr 2026	Direct
Bryan Everard Smith	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-1.07%			-813	74,944	03 Apr 2026	Direct
Cohen Tal	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.67%			-1,565	230,726	03 Apr 2026	Direct
Pc Nelson Griggs	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.65%			-1,565	238,891	03 Apr 2026	Direct
John Zecca	NDAQ	Common Stock, par value $0.01 per share	Tax liability	-0.51%			-780	153,334	03 Apr 2026	Direct

^* marks a reported price that did not pass the local price check.