NASDAQ INC

Ticker: NDAQ CUSIP: 631103108 Class: COM

Narwhal Capital Management's Holding History (CIK: 0001461287)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 19,312 Value ($000) $1,030 Avg Close $14.48 Range $13.44 - $15.38

Q2 2015

Shares 24,024 Value ($000) $1,173 Avg Close $14.10 Range $13.46 - $14.81

Q1 2015

Shares 23,624 Value ($000) $1,203 Avg Close $13.63 Range $12.50 - $14.32

Q4 2014

Shares 23,736 Value ($000) $1,138 Avg Close $12.28 Range $10.69 - $13.87

Q3 2014

Shares 23,400 Value ($000) $993 Avg Close $11.67 Range $10.62 - $12.33

Q2 2014

Shares 23,400 Value ($000) $904 Avg Close $10.13 Range $9.24 - $10.87

Q1 2014

Shares 31,200 Value ($000) $1,153 Avg Close $10.67 Range $10.00 - $11.35

Q4 2013

Shares 31,200 Value ($000) $1,242 Avg Close $10.07 Range $8.71 - $11.14

Q3 2013

Shares 31,200 Value ($000) $1,002 Avg Close $8.76 Range $8.06 - $9.39

Q2 2013

Shares 31,200 Value ($000) $1,023 Avg Close $8.32 Range $7.47 - $9.10

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	19,312	$1,030	$14.48	$13.44 - $15.38
Q2 2015	24,024	$1,173	$14.10	$13.46 - $14.81
Q1 2015	23,624	$1,203	$13.63	$12.50 - $14.32
Q4 2014	23,736	$1,138	$12.28	$10.69 - $13.87
Q3 2014	23,400	$993	$11.67	$10.62 - $12.33
Q2 2014	23,400	$904	$10.13	$9.24 - $10.87
Q1 2014	31,200	$1,153	$10.67	$10.00 - $11.35
Q4 2013	31,200	$1,242	$10.07	$8.71 - $11.14
Q3 2013	31,200	$1,002	$8.76	$8.06 - $9.39
Q2 2013	31,200	$1,023	$8.32	$7.47 - $9.10