Investor Ab ownership in NDAQ / Nasdaq, Inc.

Nasdaq, Inc.

MX ˙ BMV ˙ US6311031081

Security	MX:NDAQ / Nasdaq, Inc.
Institution	Investor Ab
Latest Disclosed Ownership	58,182,426 shares
Ownership	10.10%

2023-11-06 - Investor Ab has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 58,182,426 shares of Nasdaq, Inc. (MX:NDAQ). This represents 10.1 percent ownership of the company. In their previous filing dated 2022-12-16 , Investor Ab had reported owning 58,182,426 shares, indicating a decrease of 0.00 percent.

Institutional Ownership: 13D/G Filings

This table shows a history of the 13D/G filings made by the investor and/or investor group. Note that the share values in this table are not directly comparable to any numbers shown in the 13F table (if any).

File Date	Effective Date	Form	Prev Shares	Latest Shares	ΔShares (Percent)	Ownership (Percent)	ΔOwnership (Percent)
2023-11-06	2023-11-06	13D/A	58,182,426	58,182,426	0.00	10.10	-14.41
2022-12-16	2022-12-16	13D/A	58,182,426	58,182,426	0.00	11.80	0.00
2022-08-26	2022-08-26	13D/A	19,394,142	58,182,426	200.00	11.80	0.00
2020-04-24	2020-04-24	13D/A		19,394,142		11.80

Important Note: One of the primary uses of the 13D/G filings is to evaluate the ability of a firm to control a company (ie, the "beneficial ownership"). To that end, firms are required to report not just direct holdings in companies, but indirect holdings that they control. For investment firms, these indirect holdings can include shares in funds they manage, advisory accounts, and in the case of activist campaigns, pledged votes. Therefore, share counts listed in 13D/G filings can differ significantly than share counts listed in 13F filings.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-15	2026-03-31	13F	NASDAQ	COM	631103108	58,382,426	200,000	0.34	4,932,731	-12.71	32.6140
2026-02-17	2025-12-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	5,651,259	9.81	99.5963
2025-11-14	2025-09-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	5,146,236	-1.08	99.5617
2025-08-14	2025-06-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	5,202,673	17.88	99.5407
2025-05-15	2025-03-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	4,413,719	-1.88	99.5207
2025-02-14	2024-12-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	4,498,083	5.89	99.5598
2024-11-14	2024-09-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	4,247,899	21.16	99.5595
2024-08-14	2024-06-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	3,506,073	-4.50	99.9154
2024-05-15	2024-03-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	3,671,311	8.53	99.8503
2024-02-14	2023-12-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	3,382,726	19.65	99.8745
2023-11-14	2023-09-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	2,827,084	-2.53	99.8373
2023-08-14	2023-06-30	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	2,900,394	-8.82	99.8779
2023-05-15	2023-03-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	3,180,833	-10.89	99.9151
2023-02-14	2022-12-31	13F	NASDAQ	COM	631103108	58,182,426	0	0.00	3,569,492	8.24	99.9668
2022-11-14	2022-09-30	13F	NASDAQ	COM	631103108	58,182,426	38,788,284	200.00	3,297,780	11.47	99.8619
2022-08-15	2022-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,958,382	-14.40	99.9315
2022-05-16	2022-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	3,456,036	-15.15	99.8325
2022-02-14	2021-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	4,072,964	8.80	99.8416
2021-11-15	2021-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	3,743,457	9.80	99.8799
2021-08-16	2021-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	3,409,490	19.22	99.8463
2021-05-17	2021-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,859,860	11.09	99.7454
2021-02-16	2020-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,574,378	8.17	98.8478
2020-11-16	2020-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,379,855	2.71	99.0968
2020-08-14	2020-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,317,018	25.82	99.4156
2020-05-15	2020-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,841,474	-11.34	99.4434
2020-02-14	2019-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	2,077,113	7.80	99.0489
2019-11-14	2019-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,926,808	3.31	98.8424
2019-08-14	2019-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,865,135	9.92	98.4358
2019-05-15	2019-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,696,793	1.97	98.0974
2019-02-14	2018-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,664,017	0.00	97.8113
2018-11-14	2018-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,664,017	-5.99	96.5140
2018-08-14	2018-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,770,103	5.86	96.8261
2018-05-15	2018-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,672,163	12.22	98.9848
2018-02-14	2017-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,490,052	-0.95	98.4744
2017-11-14	2017-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,504,404	8.50	96.9901
2017-08-14	2017-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,386,487	2.94	97.3015
2017-05-15	2017-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,346,923	3.47	96.2013
2017-02-14	2016-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,301,735	-0.62	95.0351
2016-11-14	2016-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,309,880	4.44	94.1407
2016-08-15	2016-06-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,254,219	-2.58	93.5903
2016-05-16	2016-03-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,287,383	14.11	94.2972
2016-02-16	2015-12-31	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,128,157	9.08	91.5904
2015-11-16	2015-09-30	13F	NASDAQ	COM	631103108	19,394,142	0	0.00	1,034,290	9.26	91.9960
2015-08-14	2015-06-30	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	946,628	-4.18	88.7271
2015-05-15	2015-03-31	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	987,938	6.21	88.3067
2015-02-17	2014-12-31	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	930,143	13.06	89.9909
2014-11-13	2014-09-30	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	822,700	9.84	87.1009
2014-08-14	2014-06-30	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	749,002	4.55	84.9629
2014-05-15	2014-03-31	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	716,420	-7.19	84.1305
2014-02-14	2013-12-31	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	771,887	23.99	89.2447
2013-11-14	2013-09-30	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	0	0.00	622,552	-2.10	72.3997
2013-08-15	2013-06-30	13F	NASDAQ OMX GROUP	COM	631103108	19,394,142	19,394,142		635,934		74.9591

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.