Cliff Asness's NDAQ Position Overview
Cliff Asness (via Aqr Capital Management LLC) currently holds 1.93 M shares of Nasdaq, Inc. (NDAQ) worth $187.83 M, representing 0.10% of the portfolio. First purchased in 2012-Q4, this long-term strategic position has been held for 53 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
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -108,034 | Reduce 5.29% | 1.93 M | $97.13 |
| Q3 2025 | +1.02 M | Add 100.02% | 2.04 M | $88.45 |
| Q2 2025 | +686,237 | Add 205.13% | 1.02 M | $89.40 |
| Q1 2025 | +168,916 | Add 101.99% | 334,533 | $74.58 |
| Q4 2024 | +24,096 | Add 17.03% | 165,617 | $77.31 |
| Q3 2024 | -60,433 | Reduce 29.92% | 141,521 | $72.22 |
| Q2 2024 | -4,451 | Reduce 2.16% | 201,954 | $59.95 |
| Q1 2024 | -204,536 | Reduce 49.77% | 206,405 | $63.10 |
| Q4 2023 | +109,580 | Add 36.36% | 410,941 | $58.14 |
| Q3 2023 | +173,710 | Add 136.08% | 301,361 | $48.59 |
| Q2 2023 | +76,525 | Add 149.68% | 127,651 | $49.85 |
| Q1 2023 | +24,721 | Add 93.62% | 51,126 | $54.27 |
| Q4 2022 | -2,992 | Reduce 10.18% | 26,405 | $61.24 |
| Q3 2022 | -23,790 | Reduce 44.73% | 29,397 | $56.67 |
| Q2 2022 | -45,945 | Reduce 46.35% | 53,187 | $50.41 |
| Q1 2022 | -154,497 | Reduce 60.91% | 99,132 | $59.40 |
| Q4 2021 | +201,168 | Add 383.46% | 253,629 | $69.78 |
| Q3 2021 | +3,885 | Add 8.00% | 52,461 | $64.33 |
| Q2 2021 | -8,658 | Reduce 15.13% | 48,576 | $58.61 |
| Q1 2021 | +14,091 | Add 32.66% | 57,234 | $49.15 |
| Q4 2020 | -15,495 | Reduce 26.42% | 43,143 | $43.60 |
| Q3 2020 | -9,420 | Reduce 13.84% | 58,638 | $40.89 |
| Q2 2020 | -67,395 | Reduce 49.76% | 68,058 | $39.36 |
| Q1 2020 | +4,725 | Add 3.61% | 135,453 | $31.65 |
| Q4 2019 | -12,804 | Reduce 8.92% | 130,728 | $35.70 |
| Q3 2019 | -1,200 | Reduce 0.83% | 143,532 | $33.11 |
| Q2 2019 | +65,157 | Add 81.88% | 144,732 | $32.06 |
| Q1 2019 | -965,454 | Reduce 92.39% | 79,575 | $29.17 |
| Q4 2018 | -1.63 M | Reduce 60.96% | 1.05 M | $27.19 |
| Q3 2018 | -1.4 M | Reduce 34.41% | 2.68 M | $28.60 |
| Q2 2018 | -614,262 | Reduce 13.08% | 4.08 M | $30.60 |
| Q1 2018 | +637,959 | Add 15.72% | 4.7 M | $28.74 |
| Q4 2017 | +4,119 | Add 0.10% | 4.06 M | $25.61 |
| Q3 2017 | -353,610 | Reduce 8.02% | 4.05 M | $25.87 |
| Q2 2017 | -1.19 M | Reduce 21.32% | 4.41 M | $23.83 |
| Q1 2017 | -1.3 M | Reduce 18.83% | 5.6 M | $23.15 |
| Q4 2016 | +264,831 | Add 3.99% | 6.9 M | $22.37 |
| Q3 2016 | +798,714 | Add 13.68% | 6.64 M | $22.51 |
| Q2 2016 | +541,293 | Add 10.22% | 5.84 M | $21.56 |
| Q1 2016 | +843,027 | Add 18.93% | 5.3 M | $22.13 |
| Q4 2015 | +1.51 M | Add 51.46% | 4.45 M | $19.39 |
| Q3 2015 | +1.66 M | Add 129.42% | 2.94 M | $17.78 |
| Q2 2015 | +897,102 | Add 233.41% | 1.28 M | $16.27 |
| Q1 2015 | +57,210 | Add 17.49% | 384,339 | $16.98 |
| Q4 2014 | +100,500 | Add 44.35% | 327,129 | $15.99 |
| Q3 2014 | -600 | Reduce 0.26% | 226,629 | $14.14 |
| Q2 2014 | -263,700 | Reduce 53.71% | 227,229 | $12.87 |
| Q1 2014 | +425,700 | Add 652.62% | 490,929 | $12.31 |
| Q4 2013 | -1,302 | Reduce 1.96% | 65,229 | $13.26 |
| Q3 2013 | +5,838 | Add 9.62% | 66,531 | $10.70 |
| Q2 2013 | +60,693 | Add 0.00% | 60,693 | $10.92 |
| Q4 2012 | +61,593 | Add 0.00% | 61,593 | $8.33 |
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 53 quarters since Q4 2012.
Cliff Asness's largest addition to Nasdaq, Inc. (NDAQ) was in Q3 2015, adding 2,939,871 shares worth $52.26 M.
According to the latest 13F filing for Q4 2025, Cliff Asness's firm, Aqr Capital Management LLC, owns 1,933,756 shares of Nasdaq, Inc. (NDAQ), valued at approximately $187.83 M.
As of the Q4 2025 filing, Nasdaq, Inc. (NDAQ) represents approximately 0.10% of Cliff Asness's publicly disclosed stock portfolio, making it one of their key holdings.
Cliff Asness's peak holding in Nasdaq, Inc. (NDAQ) was 6,900,645 shares, as reported at the end of Q4 2016.