MAGNOLIA GROUP, LLC

OMAHA, NE · CIK 1618376 · 13F filing filed 2026-08-12

SEC-registered investment adviser since 2014 · limited liability company

Assets managed$710.6m
Staff2 · 2 in investment roles
Main clients (by assets)Private funds 90%
Private funds1 (1 hedge) · $641.4m gross assets
Form ADV · 2026-03-27SEC adviser record

Kindhedge funds
Others nearbyOmaha, NE

As an employer

Offices in1 country
Private fundshedge 1

$476.3m reported value -11.4% vs Q1 2026

16positions

93.2%in top 10

6 new 2 added 7 reduced 2 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NELNET INC CL A NNI	NNI	1,269,723	$169.3m35.54%	35.54%	Reduced -399.3k	-399,253 -23.9%
2	BOSTON OMAHA CORP CL A COM STK BOC	BOC	5,589,253	$76.2m16.01%	16.01%	Unchanged
3	ASBURY AUTOMOTIVE GROUP INC COM ABG	ABG	260,658	$52.4m11.00%	11.00%	Reduced -27.3k	-27,346 -9.5%
4	CORE NATURAL RESOURCES INC COM SHS CNR	CNR	467,524	$37.4m7.85%	7.85%	Reduced -135.0k	-134,976 -22.4%
5	ALLIANCE RESOURCE PARTNERS L UT LTD PART ARLP	ARLP	1,262,583	$30.3m6.36%	6.36%	Reduced -148.7k	-148,677 -10.5%
6	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	195,000	$19.6m4.12%	4.12%	New
7	PURE CYCLE CORP COM NEW PCYO	PCYO	1,795,421	$19.2m4.04%	4.04%	Reduced -119.1k	-119,138 -6.2%
8	COGENT COMMUNICATIONS HLDGS COM NEW CCOI	CCOI	979,686	$13.6m2.86%	2.86%	Reduced -310.5k	-310,518 -24.1%
9	S&P GLOBAL INC COM SPGI	SPGI	32,550	$13.3m2.78%	2.78%	New
10	LENNAR CORP CL B LEN.B	LEN.B	143,409	$12.7m2.67%	2.67%	Added +34.7k	+34,659 31.9%
11	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	19,500	$9.8m2.05%	2.05%	New
12	NVR INC COM NVR	NVR	1,130	$7.7m1.62%	1.62%	Added +640	+640 130.6%
13	MARKEL GROUP INC COM MKL	MKL	2,100	$4.1m0.86%	0.86%	New
14	HOME BANCSHARES INC COM HOMB	HOMB	135,500	$3.9m0.81%	0.81%	New
15	NATURAL RESOURCE PARTNERS L COM UNIT LTD PAR NRP	NRP	37,750	$3.7m0.77%	0.77%	New
16	AMERICAS CAR-MART INC COM CRMT	CRMT	1,119,875	$3.1m0.66%	0.66%	Reduced -140.8k	-140,815 -11.2%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
RE MAX HLDGS INC RMAX	RMAX	2,665,643	$15.4m2.7m shares
OLD MKT CAP CORP OMCC	OMCC	2,515,902	$11.2m2.5m shares

Trades reported as a company insider since 1 Apr 2026

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2026-04-27	AMERICAS CAR-MART INC 10% owner	CRMT	Sold	8,000	$100.7k8.0k shares	-1%