Cliff Asness's NDAQ Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 2.04 M shares of Nasdaq, Inc. (NDAQ) worth $180.6 M, representing 0.12% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 52 quarters.
Based on 13F filings since 2013, Cliff Asness has maintained a long-term strategic position in NDAQ, representing a significant commitment to this investment thesis. Largest addition occurred in Q3 2015, adding 1.66 M shares. Largest reduction occurred in Q4 2018, reducing 1.63 M shares.
Analysis based on 13F filings available since 2013 Q2
Cliff Asness's Nasdaq (NDAQ) Holding Value Over Time
Track share changes against reported price movement
Quarterly Nasdaq (NDAQ) Trades by Cliff Asness
| Period | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2012 | +61,596 | Add 0.00% | 61,593 | $8.33 |
| Q2 2013 | +60,696 | Add 0.00% | 60,693 | $10.92 |
| Q3 2013 | +5,838 | Add 9.62% | 66,531 | $10.70 |
| Q4 2013 | -1,302 | Reduce 1.96% | 65,229 | $13.26 |
| Q1 2014 | +425,700 | Add 652.62% | 490,929 | $12.31 |
| Q2 2014 | -263,700 | Reduce 53.71% | 227,229 | $12.87 |
| Q3 2014 | -600 | Reduce 0.26% | 226,629 | $14.14 |
| Q4 2014 | +100,500 | Add 44.35% | 327,129 | $15.99 |
| Q1 2015 | +57,210 | Add 17.49% | 384,339 | $16.98 |
| Q2 2015 | +897,102 | Add 233.41% | 1.28 M | $16.27 |
| Q3 2015 | +1.66 M | Add 129.42% | 2.94 M | $17.78 |
| Q4 2015 | +1.51 M | Add 51.46% | 4.45 M | $19.39 |
| Q1 2016 | +843,027 | Add 18.93% | 5.3 M | $22.13 |
| Q2 2016 | +541,293 | Add 10.22% | 5.84 M | $21.56 |
| Q3 2016 | +798,714 | Add 13.68% | 6.64 M | $22.51 |
| Q4 2016 | +264,831 | Add 3.99% | 6.9 M | $22.37 |
| Q1 2017 | -1.3 M | Reduce 18.83% | 5.6 M | $23.15 |
| Q2 2017 | -1.19 M | Reduce 21.32% | 4.41 M | $23.83 |
| Q3 2017 | -353,610 | Reduce 8.02% | 4.05 M | $25.87 |
| Q4 2017 | +4,119 | Add 0.10% | 4.06 M | $25.61 |
| Q1 2018 | +637,959 | Add 15.72% | 4.7 M | $28.74 |
| Q2 2018 | -614,262 | Reduce 13.08% | 4.08 M | $30.60 |
| Q3 2018 | -1.4 M | Reduce 34.41% | 2.68 M | $28.60 |
| Q4 2018 | -1.63 M | Reduce 60.96% | 1.05 M | $27.19 |
| Q1 2019 | -965,454 | Reduce 92.39% | 79,575 | $29.17 |
| Q2 2019 | +65,157 | Add 81.88% | 144,732 | $32.06 |
| Q3 2019 | -1,200 | Reduce 0.83% | 143,532 | $33.11 |
| Q4 2019 | -12,804 | Reduce 8.92% | 130,728 | $35.70 |
| Q1 2020 | +4,725 | Add 3.61% | 135,453 | $31.65 |
| Q2 2020 | -67,395 | Reduce 49.76% | 68,058 | $39.36 |
| Q3 2020 | -9,420 | Reduce 13.84% | 58,638 | $40.89 |
| Q4 2020 | -15,495 | Reduce 26.42% | 43,143 | $43.60 |
| Q1 2021 | +14,091 | Add 32.66% | 57,234 | $49.15 |
| Q2 2021 | -8,658 | Reduce 15.13% | 48,576 | $58.61 |
| Q3 2021 | +3,885 | Add 8.00% | 52,461 | $64.33 |
| Q4 2021 | +201,168 | Add 383.46% | 253,629 | $69.78 |
| Q1 2022 | -154,497 | Reduce 60.91% | 99,132 | $59.40 |
| Q2 2022 | -45,945 | Reduce 46.35% | 53,187 | $50.41 |
| Q3 2022 | -23,790 | Reduce 44.73% | 29,397 | $56.67 |
| Q4 2022 | -2,992 | Reduce 10.18% | 26,405 | $61.24 |
| Q1 2023 | +24,721 | Add 93.62% | 51,126 | $54.27 |
| Q2 2023 | +76,525 | Add 149.68% | 127,651 | $49.85 |
| Q3 2023 | +173,710 | Add 136.08% | 301,361 | $48.59 |
| Q4 2023 | +109,580 | Add 36.36% | 410,941 | $58.14 |
| Q1 2024 | -204,536 | Reduce 49.77% | 206,405 | $63.10 |
| Q2 2024 | -4,451 | Reduce 2.16% | 201,954 | $59.95 |
| Q3 2024 | -60,433 | Reduce 29.92% | 141,521 | $72.22 |
| Q4 2024 | +24,096 | Add 17.03% | 165,617 | $77.31 |
| Q1 2025 | +168,916 | Add 101.99% | 334,533 | $74.58 |
| Q2 2025 | +686,237 | Add 205.13% | 1.02 M | $89.40 |
| Q3 2025 | +1.02 M | Add 100.02% | 2.04 M | $88.45 |
Cliff Asness's Nasdaq Investment FAQs
Cliff Asness first purchased Nasdaq, Inc. (NDAQ) in Q4 2012, acquiring 61,593 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness has held Nasdaq, Inc. (NDAQ) for 52 quarters since Q4 2012. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's largest addition to Nasdaq, Inc. (NDAQ) was in Q3 2015, adding 2,939,871 shares worth $52.26 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
According to the latest 13F filing for Q3 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 2,041,790 shares of Nasdaq, Inc. (NDAQ), valued at approximately $180.6 M. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
As of the Q3 2025 filing, Nasdaq, Inc. (NDAQ) represents approximately 0.12% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Cliff Asness's peak holding in Nasdaq, Inc. (NDAQ) was 6,900,645 shares, as reported at the end of Q4 2016. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.