What smart money is saying about Nasdaq
3 funds in our archive have pitched Nasdaq — most recently Guinness Global Quality Mid Cap Fund in August 2026.
Nasdaq, Inc., a technology powerhouse founded in 1971 and based in New York City, is dedicated to supporting capital markets and various other sectors worldwide. Its Market Technology division specializes in fighting financial crime, offering products like Nasdaq Trade Surveillance, a SaaS solution that assists brokers and market participants in meeting compliance requirements and internal surveillance policies. This segment also provides Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool, and Verafin, a SaaS provider for anti-financial crime management. Furthermore, this division handles a wide array of assets, including cash equities, equity derivatives, global currencies, interest-bearing securities, commodities, energy resources, and digital currencies. The Investment Intelligence segment is responsible for distributing both historical and live market data, creating and licensing Nasdaq-branded financial indexes and products, and delivering valuable investment insights and workflow solutions. Through its Corporate Platforms, Nasdaq manages operational listing venues and furnishes specialized intelligence for investor relations, alongside comprehensive governance services. The Market Services segment covers a broad spectrum of operations, including the trading and clearing of equity derivatives, cash equities, fixed income, and commodities, in addition to providing trade management services. This division operates numerous exchanges and marketplace facilities that accommodate diverse asset classes such as derivatives, commodities, cash equity, debt, structured products, and exchange-traded products, while also offering crucial broker, clearing, settlement, and central depository functionalities. As of December 31, 2021, The Nasdaq Stock Market proudly listed 4,178 companies, specifically 1,632 on The Nasdaq Global Select Market, 1,169 on The Nasdaq Global Market, and 1,377 on The Nasdaq Capital Market. The company adopted its current name, Nasdaq, Inc., in September 2015, having previously been known as The NASDAQ OMX Group, Inc.
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Position history
Between Q2 2025 and Q3 2026, 8 fund letters reported a position in Nasdaq — 3 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 6 | 2 | 0 | 2 |
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q1 2026 | 0 | 0 | 0 | 1 |
| Q2 2025 | 1 | 1 | 0 | 0 |
Fund activity · 8 positions · 3 moves
- HoldsManole Capital Management FINTECH StrategySeptember 2026
“Today's exchange landscape extends far beyond the trading pits depicted in Trading Places. Organizations such as CME Group, Intercontinental Exchange, Nasdaq, and CBOE Global Markets facilitate enormous amounts of trading activity.”
Nasdaq - August 2026
“Nasdaq was the best performer in the month (+19.5% in USD).”
Nasdaq - August 2026
“There were strong stock selection effects including financial services stocks Intercontinental Exchange (+23.9%) and Nasdaq (+19.5%), pharma holding Thermo Fisher (+14.6%), Tencent (+10.6%) and healthcare stock Medtronic (+9.2%).”
Nasdaq - New positionGuinness Global Quality Mid Cap FundJuly 2026
“Changes to the portfolio: We made no changes to the Fund’s holdings in the second quarter. We made three changes to the Fund’s holdings during the first quarter, selling our positions in Sonova, Checkpoint and DiaSorin, whilst initiating positions in Adyen, Nasdaq and BESI.”
Nasdaq - New positionGuinness Global Innovators FundJuly 2026
“In Q2 2026, we made two switches in the portfolio, purchasing AMD and Nasdaq and selling Adobe and Intuit.”
Nasdaq - July 2026
“In the stock exchange sector, Nasdaq fell by about 18% over H1 2026.”
Nasdaq - HoldsInvestor ABJune 2026
Listed in Investor AB’s reported holdings.
Nasdaq - New positionFederated Hermes Sustainable Global EquityJune 2025
“Investment strategy Federated Hermes Sustainable Global Equity is a high-conviction global equity strategy. It aims to generate attractive financial returns by investing in companies that are aligned with achieving positive outcomes for society and the environment and ultimately support the United Nations Sustainable Development Goals (UN SDGs). The Strategy is a concentrated, high active-share strategy. We believe that ‘impactful,’ ‘leading’ and ‘improving’ companies play a critical role in contributing towards a more sustainable future and are well-positioned to benefit from structural sustainability trends over the long term. We believe sustainable investments are companies with business models geared towards creating value for society, with a positive or improving sustainability profile, and whose activities have an overall positive impact through their products and services. Our long-term holding periods and stewardship expertise enable us to develop effective and enduring engagement with these companies that can deliver additional impact and provide greater insight. From a sector perspective, the Strategy remains overweight Industrials, Information Technology and Healthcare, and underweight Consumer Discretionary, Communication Services, with zero-weight in Energy and Utilities. Over the H1 period, we added five positions in Clean Harbors, ServiceNow, T-Mobile, Nasdaq, and Linde, and closed out two positions in WEX and Gartner.”
Nasdaq
Also mentioned · 3
These funds discuss Nasdaq — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedNinepoint Partners Mid‑Year OutlookJune 2026
“Tokenization of other real-world assets (RWAs) represents the next phase of that evolution. Tokenized RWAs have surpassed $30 billion4, up 200% year-over-year, as Wall Street is bringing equities, commodities, treasuries, and credit products onto crypto rails. In 2026, the NYSE and Nasdaq each unveiled plans for tokenized stock platforms, Morgan Stanley announced plans to launch a digital wallet for tokenized RWAs, and the S&P 500 officially became tradable onchain, among many other examples.”
Nasdaq - MentionedHorizon Kinetics Market CommentaryJune 2026
“Exchange IPO and Inception Dates Formation Date Listing Date New York Stock Exchange (NYSE) 1792 2006 CME Group Inc. 1898 2002 Nasdaq Inc. 1971 2002 Intercontinental Exchange Inc. 2000 2005 CBOE Global Markets 1973 2010 Miami International Holdings 2000 2025 Japan Exchange Group Inc 2013 2013 Hong Kong Exchanges & Clearing Ltd 1891 2000 London Stock Exchange Group Plc 1801 2007 Deutsche Boerse AG 1992 2001 Philippine Stock Exchange Inc 1927 1992 Singapore Exchange Ltd. 2000 1999 ASX Ltd 1987 1998 Bursa Malaysia Bhd 1964 2004 Euronext Athens 1876 2022 Johannesburg Exchange 1887 2006”
Nasdaq - MentionedSKBA Capital ManagementJune 2026
“SpaceX recently went public at a value in excess of $2 trillion; this for a company with under $20 Billion in revenues. Elon Musk’s influence should nevertheless not be downplayed as index providers Nasdaq and Russell are changing the rules in order to quickly include the company in their benchmarks, due to its size.”
Nasdaq
Fund coverage · 3 theses
- Guinness Global Quality Mid Cap FundAugust 2026
Nasdaq is a financial infrastructure and software business whose shift toward recurring, mission-critical revenue is supporting strong margins, cash flow, and medium-term growth.
Read the full thesis - Guinness Global Innovators FundJuly 2026
Nasdaq is a data, analytics and exchange infrastructure company with recurring revenues, margin expansion potential and an attractive valuation.
Read the full thesis - Guinness Global Quality Mid CapMarch 2026
Nasdaq, Inc. is a data-rich fintech platform with high recurring revenues and proprietary assets supporting double-digit growth and an attractive valuation.
Read the full thesis
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