Fenimore Bets on NASDAQ’s (NDAQ) Non-Transactional Revenue Streams
Fenimore Asset Management released its Q2 2026 investor letter, highlighting Nasdaq, Inc. (NASDAQ:NDAQ) as a leading global technology platform for modern markets with advanced intelligence solutions for over 3,800 financial institutions. While Nasdaq, Inc. (NASDAQ:NDAQ) remains the single-largest U.S. equities exchange, the company has strategically shifted its focus towards non-transactional revenue streams.
The investment management company does not consider Nasdaq, Inc. (NASDAQ:NDAQ) among the 40 Most Popular Stocks Among Hedge Funds, as only 57 hedge fund portfolios held the stock at the end of the second quarter, compared to 56 in the previous quarter. Despite this, Fenimore acknowledges the potential of Nasdaq, Inc. (NASDAQ:NDAQ) and believes certain AI stocks offer greater upside potential with less downside risk.
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