Nasdaq
NDAQ
1,102 hedge funds and large institutions have $46.7B invested in Nasdaq in 2025 Q4 according to their latest regulatory filings, with 167 funds opening new positions, 434 increasing their positions, 349 reducing their positions, and 92 closing their positions.
88% more call options, than puts
Call options by funds: $153M | Put options by funds: $81.6M
82% more first-time investments, than exits
New positions opened: 167 | Existing positions closed: 92
56% more funds holding in top 10
Funds holding in top 10: 9 → 14 (+5)
24% more repeat investments, than reductions
Existing positions increased: 434 | Existing positions reduced: 349
11% more capital invested
Capital invested by funds: $42B → $46.7B (+$4.68B)
5% more funds holding
Funds holding: 1,047 → 1,102 (+55)
1.38% more ownership
Funds ownership: 82.79% → 84.17% (+1.4%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$321M |
| 2 |
Nuveen
Charlotte,
North Carolina
|
+$246M |
| 3 |
Harris Associates
Chicago,
Illinois
|
+$244M |
| 4 |
Winslow Capital Management
Minneapolis,
Minnesota
|
+$231M |
| 5 |
Bank of America
Charlotte,
North Carolina
|
+$158M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wellington Management Group
Boston,
Massachusetts
|
-$193M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$141M |
| 3 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$123M |
| 4 |
Barclays
London,
United Kingdom
|
-$108M |
| 5 |
D.E. Shaw & Co
New York
|
-$107M |
NDAQ Hedge Fund Activity: Q4 2025 in Review
1,102 of the 8,090 institutional investors tracked by Wall St. Rank reported a position in Nasdaq (NDAQ) for Q4 2025, worth a combined $46.7B — up 11% from $42B a quarter earlier.
Buyers outnumbered sellers: 167 funds opened new NDAQ positions and 92 closed out — a net gain of 75 holders — while 434 added to existing stakes and 349 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $321M. The largest seller was Wellington Management Group, cutting an estimated $193M.
- 1,102 institutional investors held Nasdaq (NDAQ) as of Q4 2025, up from 1,047 in Q3 2025.
- Funds reported $46.7B of Nasdaq stock for Q4 2025, up 11% quarter-over-quarter.
- 167 funds opened new Nasdaq positions in Q4 2025 and 92 closed out, a net change of +75 holders.
- The largest Nasdaq buyer in Q4 2025 was Morgan Stanley, an estimated $321M added.
- The largest Nasdaq seller in Q4 2025 was Wellington Management Group, an estimated $193M sold.
Based on aggregated 13F filings for Q4 2025.