NDAQ Nasdaq Inc
COM
CUSIP: 631103108
FIGI: BBG000F5VVB6
Institutional Holders1,116
Total Institutional Value$45,370,482,340
Total Shares Held480,766,912
Avg Position$40,654,554
Top 5 Holders %47.7%
Alpha-Weighted Score68.3
New Positions+103
Exited Positions-84
Top 15 Institutional Holders by Value
■ New ■ Increased ■ Decreased ■ Unchanged
Institutional Holders — Q4 25
| Manager | Alpha | Flow | Value | Shares | Change |
|---|---|---|---|---|---|
| VANGUARD GROUP INC | High Conviction | Market Mover | $5,819,727,234 (12.8%) | 59,916,887 | 10.3% |
| INVESTOR AB | Elite Conviction | Low Flow | $5,651,259,037 (12.5%) | 58,182,426 | 9.8% |
| BLACKROCK FUNDING, INC. /DE | High Conviction | Market Mover | $3,837,005,619 (8.5%) | 39,503,815 | 8.0% |
| WELLINGTON MANAGEMENT GROUP LLP | High Conviction | Market Mover | $3,657,898,706 (8.1%) | 37,659,824 | 3.9% |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | High Conviction | Market Mover | $2,683,485,008 (5.9%) | 27,627,767 | 15.1% |
| STATE STREET CORP | High Conviction | Market Mover | $1,930,808,418 (4.3%) | 19,878,600 | 11.3% |
| GEODE CAPITAL MANAGEMENT, LLC | High Conviction | Market Mover | $1,243,807,404 (2.7%) | 12,851,894 | 13.2% |
| FRANKLIN RESOURCES INC | High Conviction | Market Mover | $1,028,575,520 (2.3%) | 10,589,679 | 9.9% |
| MORGAN STANLEY | Moderate Conviction | Market Mover | $900,061,309 (2.0%) | 9,266,562 | 78.6% |
| BANK OF AMERICA CORP /DE/ | Moderate Conviction | Market Mover | $844,198,376 (1.9%) | 8,691,428 | -32.0% |
| HARRIS ASSOCIATES L P | High Conviction | Significant Flow | $837,424,691 (1.8%) | 8,621,689 | 60.3% |
| Nuveen, LLC | High Conviction | Market Mover | $589,896,812 (1.3%) | 6,073,271 | 99.9% |
| AMERIPRISE FINANCIAL INC | Moderate Conviction | Market Mover | $550,865,858 (1.2%) | 5,662,037 | 10.1% |
| GOLDMAN SACHS GROUP INC | High Conviction | Market Mover | $534,322,352 (1.2%) | 5,501,105 | 4.3% |
| NORGES BANK | High Conviction | Market Mover | $530,100,476 (1.2%) | 5,457,639 | 12.1% |
| Invesco Ltd. | Moderate Conviction | Market Mover | $521,516,636 (1.1%) | 5,369,264 | 16.9% |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | High Conviction | Market Mover | $452,885,968 (1.0%) | 4,662,676 | - |
| NORTHERN TRUST CORP | High Conviction | Market Mover | $414,737,135 (0.9%) | 4,269,918 | 11.7% |
| UBS Group AG | Moderate Conviction | Market Mover | $373,892,902 (0.8%) | 3,849,407 | - |
| SELECT EQUITY GROUP, L.P. | High Conviction | Moderate Flow | $364,505,287 (0.8%) | 3,752,757 | 38.7% |
| UBS GLOBAL ASSET MANAGEMENT AMERICAS INC | Moderate Conviction | Market Mover | $359,238,996 (0.8%) | 3,698,538 | 15.1% |
| FMR LLC | High Conviction | Market Mover | $319,957,075 (0.7%) | 3,294,111 | 94.8% |
| FARALLON CAPITAL MANAGEMENT LLC | Moderate Conviction | Moderate Flow | $290,342,259 (0.6%) | 2,989,213 | -54.7% |
| MARINER, LLC | High Conviction | Market Mover | $279,345,183 (0.6%) | 2,875,927 | 12.6% |
| LEGAL & GENERAL GROUP PLC | High Conviction | Market Mover | $277,328,976 (0.6%) | 2,855,235 | 11.6% |
| SCHWAB CHARLES INVESTMENT MANAGEMENT INC | High Conviction | Market Mover | $264,966,366 (0.6%) | 2,727,956 | -37.1% |
| NEUBERGER BERMAN GROUP LLC | High Conviction | Market Mover | $261,685,751 (0.6%) | 2,694,180 | 8.2% |
| TWENTIETH CENTURY COMPANIES INC | High Conviction | Market Mover | $256,772,674 (0.6%) | 2,643,598 | 13.7% |
| DIMENSIONAL FUND ADVISORS LP | High Conviction | Market Mover | $254,984,679 (0.6%) | 2,625,048 | 11.0% |
| WINSLOW CAPITAL MANAGEMENT, LLC | High Conviction | Moderate Flow | $250,498,541 (0.6%) | 2,568,537 | NEW |
| SEGESPAR | High Conviction | Market Mover | $236,363,621 (0.5%) | 2,433,477 | -8.8% |
| Bank of New York Mellon Corp | High Conviction | Market Mover | $219,867,716 (0.5%) | 2,263,644 | -7.1% |
| ENVESTNET ASSET MANAGEMENT INC | High Conviction | Significant Flow | $215,957,274 (0.5%) | 2,223,384 | -8.3% |
| PRINCIPAL FINANCIAL GROUP INC | High Conviction | Market Mover | $214,609,012 (0.5%) | 2,209,502 | 3.7% |
| BANK JULIUS BAER & CO. LTD, ZURICH | High Conviction | Significant Flow | $203,961,722 (0.4%) | 2,095,629 | -58.3% |
| AQR CAPITAL MANAGEMENT LLC | High Conviction | Market Mover | $187,825,749 (0.4%) | 1,933,756 | 4.0% |
| DEUTSCHE BANK AG\\ | Moderate Conviction | Market Mover | $163,528,359 (0.4%) | 1,683,603 | 29.8% |
| JPMORGAN CHASE & CO | High Conviction | Market Mover | $152,069,687 (0.3%) | 1,565,629 | -45.2% |
| JOHNSON INVESTMENT COUNSEL INC | High Conviction | Moderate Flow | $151,103,075 (0.3%) | 1,555,679 | 8.3% |
| TWO SIGMA INVESTMENTS, LP | Moderate Conviction | Significant Flow | $141,718,595 (0.3%) | 1,459,061 | -19.6% |
| LIONTRUST INVESTMENT PARTNERS LLP | High Conviction | Moderate Flow | $137,707,709 (0.3%) | 1,417,767 | -51.3% |
| ROBECO INSTITUTIONAL ASSET MANAGEMENT B.V. | High Conviction | Significant Flow | $137,653,026 (0.3%) | 1,417,204 | 24.9% |
| RAYMOND JAMES FINANCIAL INC | Moderate Conviction | Market Mover | $123,368,061 (0.3%) | 1,270,134 | 13.2% |
| BARCLAYS PLC | High Conviction | Market Mover | $121,023,883 (0.3%) | 1,245,999 | -44.1% |
| SEI INVESTMENTS CO | High Conviction | Market Mover | $119,774,369 (0.3%) | 1,233,129 | 284.6% |
| MAN GROUP PLC | High Conviction | Significant Flow | $115,736,320 (0.3%) | 1,191,561 | -21.6% |
| FLOSSBACH VON STORCH AG | High Conviction | Moderate Flow | $111,500,092 (0.2%) | 1,147,947 | 11.9% |
| CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM | High Conviction | Significant Flow | $109,532,044 (0.2%) | 1,127,685 | - |
| BNP PARIBAS FINANCIAL MARKETS | Moderate Conviction | Market Mover | $103,276,192 (0.2%) | 1,063,278 | 12.6% |
| SUMITOMO MITSUI TRUST HOLDINGS, INC. | High Conviction | Significant Flow | $102,729,447 (0.2%) | 1,057,649 | - |
| CHEVY CHASE TRUST HOLDINGS, LLC | High Conviction | Significant Flow | $98,595,803 (0.2%) | 1,015,091 | - |
| WELLS FARGO & COMPANY/MN | Moderate Conviction | Market Mover | $98,433,146 (0.2%) | 1,013,417 | 20.4% |
| SHAW D E & CO INC | Moderate Conviction | Market Mover | $96,410,170 (0.2%) | 992,589 | -50.0% |
| MITSUBISHI UFJ KOKUSAI ASSET MANAGEMENT CO., LTD. | High Conviction | Significant Flow | $93,372,400 (0.2%) | 965,988 | 20.4% |
| Union Bancaire Privee, UBP SA | High Conviction | Low Flow | $91,255,047 (0.2%) | 962,068 | 5.9% |
| RHUMBLINE ADVISERS | High Conviction | Market Mover | $91,068,774 (0.2%) | 937,598 | 9.2% |
| PRUDENTIAL FINANCIAL INC | High Conviction | Significant Flow | $90,954,863 (0.2%) | 936,424 | -41.3% |
| TWO SIGMA ADVISERS, LP | High Conviction | Significant Flow | $89,544,147 (0.2%) | 921,900 | -37.9% |
| CITADEL ADVISORS LLC | Moderate Conviction | Market Mover | $85,437,296 (0.2%) | 879,618 | -62.0% |
| LAZARD ASSET MANAGEMENT LLC | High Conviction | Significant Flow | $85,192,334 (0.2%) | 877,096 | -23.7% |
| ROYAL BANK OF CANADA | High Conviction | Market Mover | $81,338,000 (0.2%) | 837,412 | -49.3% |
| ROCKEFELLER CAPITAL MANAGEMENT L.P. | High Conviction | Market Mover | $80,554,462 (0.2%) | 851,203 | 66.4% |
| PRANA CAPITAL MANAGEMENT, LP | High Conviction | Low Flow | $79,254,486 (0.2%) | 815,963 | -27.6% |
| QUBE RESEARCH & TECHNOLOGIES LTD | Moderate Conviction | Market Mover | $77,275,851 (0.2%) | 795,592 | -59.5% |
| MANNING & NAPIER ADVISORS LLC | High Conviction | Moderate Flow | $76,676,324 (0.2%) | 780,977 | - |
| BLAIR WILLIAM & CO/IL | High Conviction | Significant Flow | $73,806,506 (0.2%) | 759,873 | 35.3% |
| STONY POINT CAPITAL LLC | Elite Conviction | Low Flow | $71,459,027 (0.2%) | 735,705 | 12.6% |
| STRS OHIO | High Conviction | Significant Flow | $68,957,152 (0.2%) | 709,947 | 28.4% |
| EVENTIDE ASSET MANAGMENT LLC | High Conviction | Moderate Flow | $68,811,558 (0.2%) | 707,048 | 15.3% |
| NATIONAL PENSION SERVICE | High Conviction | Significant Flow | $65,457,752 (0.1%) | 673,919 | 22.2% |
| Munich Reinsurance Co Stock Corp in Munich (CIK 0002090208) | High Conviction | Low Flow | $65,390,531 (0.1%) | 666,027 | 13.7% |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | High Conviction | Market Mover | $65,282,141 (0.1%) | 672,111 | 16.8% |
| SQUAREPOINT OPS LLC | Moderate Conviction | Significant Flow | $64,444,978 (0.1%) | 663,492 | 126.6% |
| Universal- Beteiligungs- und Servicegesellschaft mbH (CIK 0002057170) | High Conviction | Significant Flow | $60,904,028 (0.1%) | 624,836 | 11.1% |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Moderate Conviction | Market Mover | $59,016,771 (0.1%) | 607,606 | -22.5% |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | High Conviction | Significant Flow | $57,690,072 (0.1%) | 593,947 | 10.7% |
| VAUGHAN NELSON SCARBOROUGH & MCCULLOUGH LP | High Conviction | Moderate Flow | $57,360,996 (0.1%) | 590,559 | 70.8% |
| PANAGORA ASSET MANAGEMENT INC | High Conviction | Significant Flow | $56,574,728 (0.1%) | 582,464 | 221.0% |
| MACKENZIE FINANCIAL CORP | High Conviction | Significant Flow | $56,572,313 (0.1%) | 577,346 | 48.0% |
| KOREA INVESTMENT CORP | High Conviction | Significant Flow | $54,793,558 (0.1%) | 564,126 | 42.2% |
| POINT72 ASSET MANAGEMENT, L.P. | Moderate Conviction | Market Mover | $54,035,653 (0.1%) | 556,323 | 723.5% |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | High Conviction | Significant Flow | $53,922,497 (0.1%) | 555,158 | -42.8% |
| FIRST TRUST ADVISORS LP | High Conviction | Market Mover | $53,786,963 (0.1%) | 553,763 | -8.7% |
| SHAPIRO CAPITAL MANAGEMENT LLC | High Conviction | Low Flow | $52,315,966 (0.1%) | 538,618 | 3.1% |
| ARTISAN PARTNERS LIMITED PARTNERSHIP | High Conviction | Significant Flow | $52,168,814 (0.1%) | 537,103 | 8.0% |
| CANADA PENSION PLAN INVESTMENT BOARD | High Conviction | Significant Flow | $51,949,592 (0.1%) | 534,846 | 3.3% |
| TREXQUANT INVESTMENT LP | High Conviction | Significant Flow | $50,786,849 (0.1%) | 522,875 | 15.0% |
| DUNDAS PARTNERS LLP | Elite Conviction | Low Flow | $50,675,246 (0.1%) | 521,726 | 8.0% |
| Raiffeisen Bank International AG | High Conviction | Moderate Flow | $50,187,259 (0.1%) | 511,176 | 26.3% |
| LPL FINANCIAL LLC | High Conviction | Market Mover | $50,146,724 (0.1%) | 516,285 | - |
| Burkehill Global Management, LP | High Conviction | Low Flow | $48,565,000 (0.1%) | 500,000 | 9.8% |
| SEVEN GRAND MANAGERS, LLC | High Conviction | Low Flow | $48,565,000 (0.1%) | 500,000 | 9.8% |
| FIL LTD | High Conviction | Significant Flow | $46,473,791 (0.1%) | 478,470 | -12.5% |
| ALLIANCEBERNSTEIN L.P. | High Conviction | Market Mover | $46,340,917 (0.1%) | 477,102 | 13.0% |
| BENJAMIN EDWARDS INC | High Conviction | Moderate Flow | $46,129,840 (0.1%) | 474,906 | 7.5% |
| RUSSELL INVESTMENTS GROUP, LTD. | Moderate Conviction | Market Mover | $44,013,170 (0.1%) | 452,554 | 65.3% |
| NORTHCREST ASSET MANANGEMENT, LLC | High Conviction | Moderate Flow | $43,977,047 (0.1%) | 446,694 | 12.5% |
| Evelyn Partners Investment Management LLP | High Conviction | Low Flow | $41,789,600 (0.1%) | 430,244 | -43.6% |
| LBP AM SA | High Conviction | Moderate Flow | $41,567,270 (0.1%) | 427,955 | -12.6% |
| MILLENNIUM MANAGEMENT, L.L.C. | Moderate Conviction | Market Mover | $41,300,259 (0.1%) | 425,206 | 34.7% |
Implied Institutional Price History
Estimated from 13F aggregate market value ÷ shares reported across all institutional filers. Reflects quarter-end snapshot, not actual trade prices.
| Quarter | Filers | Institutional Value | Shares Held | Est. Avg Price |
|---|---|---|---|---|
| Q4 25 | 1,085 | $45.38B | 480,879,193 | $94.37 |
| Q3 25 | 1,027 | $43.64B | 510,426,349 | $85.50 |
| Q2 25 | 1,010 | $42.08B | 488,916,024 | $86.06 |
| Q1 25 | 928 | $36.44B | 498,340,327 | $73.12 |
| Q4 24 | 896 | $37.31B | 497,331,978 | $75.02 |
| Q3 24 | 842 | $35.69B | 510,954,147 | $69.86 |
| Q2 24 | 756 | $29.21B | 499,995,209 | $58.42 |
| Q1 24 | 765 | $31.05B | 510,795,313 | $60.79 |
Source: SEC 13F-HR filings. Implied price = aggregate market value ÷ shares reported. Not investment advice.