Value investor Robert Olstein's firm, Olstein Capital Management, sold its entire stake in Nasdaq, Inc. (NDAQ) during the second quarter of 2026. The firm disposed of all 96,000 shares it held, a position previously valued at approximately $8.15 million. This transaction was revealed in a delayed quarterly 13F filing with the SEC, which reports on portfolio holdings as of June 30, 2026, and does not reflect the specific timing of trades within that period.
The sale is notable as it occurred during a record-setting quarter for Nasdaq, which reported a 15% year-over-year revenue increase and its first-ever quarterly earnings exceeding $1 per share. The exchange also listed SpaceX, the largest IPO in history, during this period. Additionally, the portfolio change took place as Easterly Asset Management finalized its acquisition of Olstein Capital Management's fund business on June 29, 2026. Prior to the sale, the Nasdaq position represented 1.78% of the firm's portfolio.