Nasdaq
NDAQ
1,047 hedge funds and large institutions have $42B invested in Nasdaq in 2025 Q3 according to their latest regulatory filings, with 127 funds opening new positions, 430 increasing their positions, 317 reducing their positions, and 88 closing their positions.
67% more call options, than puts
Call options by funds: $172M | Put options by funds: $103M
44% more first-time investments, than exits
New positions opened: 127 | Existing positions closed: 88
36% more repeat investments, than reductions
Existing positions increased: 430 | Existing positions reduced: 317
3% more funds holding
Funds holding: 1,021 → 1,047 (+26)
0.63% less ownership
Funds ownership: 83.42% → 82.79% (-0.63%)
2% less capital invested
Capital invested by funds: $42.8B → $42B (-$815M)
31% less funds holding in top 10
Funds holding in top 10: 13 → 9 (-4)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Vanguard Group
Malvern,
Pennsylvania
|
+$356M |
| 2 |
BlackRock
New York
|
+$286M |
| 3 |
Select Equity Group
New York
|
+$161M |
| 4 |
State Street
Boston,
Massachusetts
|
+$130M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
+$113M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
-$561M |
| 2 |
Harris Associates
Chicago,
Illinois
|
-$173M |
| 3 |
Diamond Hill Capital Management
Columbus,
Ohio
|
-$154M |
| 4 |
Wellington Management Group
Boston,
Massachusetts
|
-$133M |
| 5 |
UBS AM
Chicago,
Illinois
|
-$98.1M |
NDAQ Hedge Fund Activity: Q3 2025 in Review
1,047 of the 7,640 institutional investors tracked by Wall St. Rank reported a position in Nasdaq (NDAQ) for Q3 2025, worth a combined $42B — down 1.9% from $42.8B a quarter earlier.
Buyers outnumbered sellers: 127 funds opened new NDAQ positions and 88 closed out — a net gain of 39 holders — while 430 added to existing stakes and 317 trimmed.
The largest buyer was Vanguard Group, adding an estimated $356M. The largest seller was Jane Street, cutting an estimated $561M.
- 1,047 institutional investors held Nasdaq (NDAQ) as of Q3 2025, up from 1,021 in Q2 2025.
- Funds reported $42B of Nasdaq stock for Q3 2025, down 1.9% quarter-over-quarter.
- 127 funds opened new Nasdaq positions in Q3 2025 and 88 closed out, a net change of +39 holders.
- The largest Nasdaq buyer in Q3 2025 was Vanguard Group, an estimated $356M added.
- The largest Nasdaq seller in Q3 2025 was Jane Street, an estimated $561M sold.
Based on aggregated 13F filings for Q3 2025.