Massachusetts Financial Services (NDAQ) trims Nasdaq stake to 4.1% ownership

Rhea-AI Filing Summary

Massachusetts Financial Services Company filed an amended Schedule 13G reporting its beneficial ownership in NASDAQ, Inc. common stock. The firm reports beneficial ownership of 23,259,540 shares, representing 4.1% of the outstanding common stock. It has sole voting power over 22,728,519 shares and sole dispositive power over 23,259,540 shares, with no shared voting or dispositive power. The filing states that the holder now owns 5 percent or less of this class of securities.

Key Figures

Beneficial ownership: 23,259,540 shares Percent of class: 4.1% Sole voting power: 22,728,519 shares +3 more

6 metrics

Beneficial ownership 23,259,540 shares Common stock of NASDAQ, Inc. beneficially owned by Massachusetts Financial Services

Percent of class 4.1% Portion of NASDAQ, Inc. common stock outstanding held by the reporting person

Sole voting power 22,728,519 shares Shares for which Massachusetts Financial Services has sole power to vote

Sole dispositive power 23,259,540 shares Shares for which Massachusetts Financial Services has sole power to dispose

Ownership threshold status 5 percent or less Item 5 disclosure that holder owns 5 percent or less of the class

Signature date 07/29/2026 Date the Schedule 13G/A amendment was signed by the Compliance Director

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power, Percent of class

4 terms

beneficially owned financial

"Amount beneficially owned: 23,259,540 shares of Common Stock consisting of shares beneficially owned"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power financial

"Sole Voting Power 22,728,519.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power financial

"Sole Dispositive Power 23,259,540.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Percent of class financial

"Percent of class: 4.1 %"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/12/2026 - 05:02 PM Accepted by SEC EDGAR 08/12/2026 - 05:01 PM Learn about SEC filing dates

FAQ

What percentage of NASDAQ, Inc. (NDAQ) shares does Massachusetts Financial Services own?

Massachusetts Financial Services reports beneficial ownership of 4.1% of NASDAQ, Inc. common stock, representing 23,259,540 shares. This reflects a position below the 5% threshold for more extensive Schedule 13D-style reporting.

How many NASDAQ, Inc. (NDAQ) shares does Massachusetts Financial Services control the voting of?

Massachusetts Financial Services has sole voting power over 22,728,519 shares of NASDAQ, Inc. common stock and no shared voting power, according to the Schedule 13G/A amendment.

What is the total beneficial ownership in NASDAQ, Inc. (NDAQ) reported by Massachusetts Financial Services?

The firm reports beneficial ownership of 23,259,540 NASDAQ, Inc. common shares. This total includes shares beneficially owned by Massachusetts Financial Services and certain other non-reporting entities.

Does Massachusetts Financial Services share dispositive power over NASDAQ, Inc. (NDAQ) shares?

No. The filing states sole dispositive power over 23,259,540 shares and no shared dispositive power. This means only the reporting entities decide how those shares may be disposed of.

What does Item 5 of the NASDAQ, Inc. (NDAQ) Schedule 13G/A indicate?

Item 5 indicates Massachusetts Financial Services reports ownership of 5 percent or less of NASDAQ, Inc.’s common stock class. This confirms the current stake is below the 5% significant-holder threshold.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

NASDAQ, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

631103108

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 631103108

1

Names of Reporting Persons

Massachusetts Financial Services Company

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 22,728,519.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 23,259,540.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

23,259,540.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NASDAQ, Inc.
(b)	Address of issuer's principal executive offices: 151 West 42nd Street, New York, NY 10036
Item 2.
(a)	Name of person filing: Massachusetts Financial Services Company
(b)	Address or principal business office or, if none, residence: 111 Huntington Avenue, Boston, MA 02199
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 631103108
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 23,259,540 shares of Common Stock consisting of shares beneficially owned by MFS and/or certain other non-reporting entities
(b)	Percent of class: 4.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 22,728,519
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 23,259,540
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Massachusetts Financial Services Company

Signature:	Deepu Pylee
Name/Title:	Compliance Director
Date:	07/29/2026