Vault-13

NELNET INC NNI

CL A · Common Stock · CUSIP 64031N108

Conglomerate centered on student loan repayment and education financial services

164 institutional holders +13 vs Q3 2022
12,345,20312.3m shares reported held*
$1.1bnreported value*
28 new 41 added 52 reduced 16 sold out net sold ≈ $11.8m (-130.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($5.1m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $90.78. Options: 4 managers hold calls ($2.2m notional), 3 hold puts ($1.1m).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 151Q4 22: 164164Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022151
Q4 2022164

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$1m$2m$3mQ3 22 calls: $2.5mQ3 22 puts: $973.0kQ3 22P/C 0.39Q4 22 calls: $2.2mQ4 22 puts: $1.1mQ4 22P/C 0.50
Numbers
QuarterCallsPutsP/C
Q3 2022$2.5m$973.0k0.39
Q4 2022$2.2m$1.1m0.50

Biggest buyers

VANGUARD GROUP INC Added +204,647+204.6k
BlackRock Inc. Added +55,956+56.0k
Boston Partners Added +28,252+28.3k
DIMENSIONAL FUND ADVISORS LP Added +20,015+20.0k
Legato Capital Management LLC New +16,754+16.8k
GEODE CAPITAL MANAGEMENT, LLC Added +12,455+12.5k
CITADEL ADVISORS LLC New +12,344+12.3k
OCCUDO QUANTITATIVE STRATEGIES LP New +8,495+8.5k
BANK OF AMERICA CORP /DE/ Added +7,923+7.9k
Cubist Systematic Strategies, LLC Added +6,659+6.7k

Biggest sellers

Sycale Advisors (NY) LLC Reduced -129,825-129.8k
NORGES BANK Reduced -120,356-120.4k
GOLDMAN SACHS GROUP INC Reduced -71,831-71.8k
Qube Research & Technologies Ltd Reduced -24,299-24.3k
ACADIAN ASSET MANAGEMENT LLC Reduced -17,000-17.0k
MILLENNIUM MANAGEMENT LLC Reduced -16,660-16.7k
JPMORGAN CHASE & CO Reduced -13,221-13.2k
VICTORY CAPITAL MANAGEMENT INC Sold out -13,132-13.1k
HRT FINANCIAL LP Sold out -11,436-11.4k
Allianz Asset Management GmbH Sold out -11,396-11.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $989.2k10.9k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $980.1k10.8k shares
PEAK6 Investments LLC New $226.9k2.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $871.2k9.6k shares
CITADEL ADVISORS LLC New $217.8k2.4k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
DUNLAP MICHAEL S 13D · may seek influence filed 2025-11-13 37.8% 13.4m≈ $1.8bn 2025-11-13
Whitetail Rock Capital Management, LLC 13G · institution filed 2026-05-13 21.6% 6.9m≈ $917.6m 2026-05-13
MUHLEISEN ANGIE 13G · exempt (held before listing) filed 2025-11-13 18.1% 4.7m≈ $624.5m 2025-11-13
UNION BANK & TRUST CO / TRUSTEE 13G · exempt (held before listing) filed 2025-11-13 7.9% 2.0m≈ $273.0m 2025-11-13
MAGNOLIA CAPITAL FUND, LP 13D · may seek influence no change · filed 2026-06-05
Stated purposeThis Schedule 13D amendment is being jointly filed to report that, in partial satisfaction of certain withdrawal requests, effective May 13 and May 14, 2026, MCF distributed in-kind, to withdrawing limited partners 76,401 and 99,426 shares, respectively, of the Issuer's Common Stock. As a result of the distributions: (1) MCF is no longer deemed a beneficial owner of such distributed shares and, accordingly, the number of shares reported by MCF is decreased by 175,827 (with a corresponding decrease in the number of shares beneficially owned by TMG, as the general partner of MCF, and Adam Peterson, as the managing member of TMG). Although Reporting Persons have no specific plan or proposal to acquire additional Common Stock or dispose of the Common Stock, Reporting Persons at any time and… Full filing
5.9% no change 1.5m≈ $200.4m 2026-06-05

Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)

Insider purchases and sales in Q4 2022

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q1 21: 0 buyingQ1 21: 0 sellingQ2 21: 0 buyingQ2 21: 0 sellingQ2 21Q3 21: 0 buyingQ3 21: 0 sellingQ4 21: 0 buyingQ4 21: 1 sellingQ4 21Q1 22: 0 buyingQ1 22: 1 sellingQ2 22: 0 buyingQ2 22: 1 sellingQ2 22Q3 22: 0 buyingQ3 22: 1 sellingQ4 22: 0 buyingQ4 22: 1 sellingQ4 22
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q1 20210—0——
Q2 20210—0——
Q3 20210—0——
Q4 20210—1$490.4k—
Q1 20220—1$130.2k—
Q2 20220—1$122.8k—
Q3 20220—1$122.7k—
Q4 20220—1$169.1k—
DateInsiderTradeSharesPrice ValueTheir holding
2022-11-14 Munn William J Secy/Chief Legal Off/Gen Coun Sold 500 $95.49 $47.7k500 shares -3%
2022-10-13 Munn William J Secy/Chief Legal Off/Gen Coun Sold 1,500 $80.89 $121.3k1.5k shares -8%

Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio AUSTIN, TX 2,116,1812.1m $192.0m $192.0m 0.07% Added +20.0k +20,015
2 MAGNOLIA GROUP, LLC 23.52% of their portfolio OMAHA, NE 1,900,0001.9m $172.4m $172.4m 23.52% Unchanged
3 FARMERS & MERCHANTS INVESTMENTS INC 5.11% of their portfolio LINCOLN, NE 1,369,8661.4m $124.3m $124.3m 5.11% Reduced -1.0k -1,000
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,306,3891.3m $118.6m $118.6m 0.00% Added +204.6k +204,647
5 BlackRock Inc. 0.00% of their portfolio New York, NY 1,081,3401.1m $98.1m $98.1m 0.00% Added +56.0k +55,956
6 Empyrean Capital Partners, LP 1.61% of their portfolio LOS ANGELES, CA 480,073480.1k $43.6m $43.6m 1.61% Unchanged
7 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 329,185329.2k $29.9m $29.9m 0.00% Reduced -1.5k -1,504
8 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 297,565297.6k $27.0m $27.0m 0.00% Added +12.5k +12,455
9 SNYDER CAPITAL MANAGEMENT L P 0.59% of their portfolio San Francisco, CA 288,314288.3k $26.2m $26.2m 0.59% Reduced -1.0k -1,042
10 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 251,417251.4k $22.8m $22.8m 0.00% Reduced -4.7k -4,742
11 GENERAL AMERICAN INVESTORS CO INC 2.16% of their portfolio NEW YORK, NY 243,415243.4k $22.1m $22.1m 2.16% Unchanged
12 Boston Partners 0.03% of their portfolio BOSTON, MA 236,392236.4k $21.7m $21.7m 0.03% Added +28.3k +28,252
13 QVT Financial LP 1.16% of their portfolio New York, NY 214,665214.7k $19.5m $19.5m 1.16% Unchanged
14 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio SAN FRANCISCO, CA 193,968194.0k $17.6m $17.6m 0.01% Added +164 +164
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 153,398153.4k $13.9m $13.9m 0.00% Reduced -13.2k -13,221
16 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 114,504114.5k $10.4m $10.4m 0.00% Reduced -7.4k -7,375
17 ACADIAN ASSET MANAGEMENT LLC 0.05% of their portfolio Boston, MA 111,230111.2k $10.1m $10.1m 0.05% Reduced -17.0k -17,000
18 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 104,588104.6k $9.5m $9.5m 0.01% Added +4.8k +4,840
19 BAR HARBOR WEALTH MANAGEMENT 0.74% of their portfolio CONCORD, NH 102,263102.3k $9.3m $9.3m 0.74% Added +489 +489
20 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 66,47666.5k $6.0m $6.0m 0.00% Reduced -71.8k -71,831
21 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 64,37064.4k $5.8m $5.8m 0.00% Unchanged
22 Sycale Advisors (NY) LLC 2.36% of their portfolio New York, NY 62,30362.3k $5.7m $5.7m 2.36% Reduced -129.8k -129,825
23 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 56,62056.6k $5.1m $5.1m 0.01% Reduced -7.8k -7,785
24 Brandywine Global Investment Management, LLC 0.04% of their portfolio PHILADELPHIA, PA 56,23956.2k $5.1m $5.1m 0.04% Reduced -1.7k -1,690
25 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 50,25150.3k $4.6m $4.6m 0.00% Reduced -6.3k -6,284
26 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 48,90748.9k $4.4m $4.4m 0.00% Reduced -5.9k -5,900
27 PRUDENTIAL FINANCIAL INC 0.01% of their portfolio NEWARK, NJ 48,51948.5k $4.4m $4.4m 0.01% Reduced -1.5k -1,500
28 DEAN INVESTMENT ASSOCIATES, LLC 0.65% of their portfolio BEAVERCREEK, OH 42,21142.2k $3.8m $3.8m 0.65% Added +3.6k +3,551
29 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 39,69839.7k $3.6m $3.6m 0.00% Reduced -6.9k -6,943
30 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 38,07638.1k $3.5m $3.5m 0.00% Reduced -1.8k -1,792
31 DENALI ADVISORS LLC 1.40% of their portfolio SAN DIEGO, CA 36,72136.7k $3.3m $3.3m 1.40% Reduced -9.3k -9,279
32 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 35,74235.7k $3.2m $3.2m 0.00% Reduced -6.6k -6,608
33 Swiss National Bank 0.00% of their portfolio ZURICH, V8 35,20035.2k $3.2m $3.2m 0.00% Unchanged
34 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 31,41531.4k $2.9m $2.9m 0.00% Added +103 +103
35 Amundi 0.00% of their portfolio Paris, I0 27,59827.6k $2.6m $2.6m 0.00% Reduced -1.6k -1,621
36 TEACHER RETIREMENT SYSTEM OF TEXAS 0.02% of their portfolio AUSTIN, TX 27,28327.3k $2.5m $2.5m 0.02% Reduced -4.1k -4,148
37 Guardian Wealth Management, Inc. 2.21% of their portfolio PEORIA, IL 24,77524.8k $2.2m $2.2m 2.21% Added +382 +382
38 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 24,72624.7k $2.2m $2.2m 0.00% Reduced -4.1k -4,109
39 Livforsakringsbolaget Skandia, Omsesidigt 0.25% of their portfolio Stockholm, V7 24,38024.4k $2.2m $2.2m 0.25% Unchanged
40 JAMES INVESTMENT RESEARCH, INC. 0.30% of their portfolio ALPHA, OH 23,36423.4k $2.1m $2.1m 0.30% Unchanged
41 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 23,32323.3k $2.1m $2.1m 0.00% Unchanged
42 Skandinaviska Enskilda Banken AB (publ) 0.02% of their portfolio STOCKHOLM, V7 22,50022.5k $2.0m $2.0m 0.02% Unchanged
43 Cubist Systematic Strategies, LLC 0.02% of their portfolio STAMFORD, CT 20,58020.6k $1.9m $1.9m 0.02% Added +6.7k +6,659
44 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 18,51218.5k $1.7m $1.7m 0.00% Reduced -22 -22
45 Moody Aldrich Partners LLC 0.34% of their portfolio MARBLEHEAD, MA 18,36118.4k $1.7m $1.7m 0.34% Unchanged
46 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 18,35018.4k $1.7m $1.7m 0.00% First filing
47 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 17,72817.7k $1.6m $1.6m 0.00% Added +7.9k +7,923
48 AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio Greenwich, CT 17,66017.7k $1.6m $1.6m 0.00% Reduced -1.7k -1,728
49 Grantham, Mayo, Van Otterloo & Co. LLC 0.01% of their portfolio Boston, MA 17,15317.2k $1.6m $1.6m 0.01% Reduced -5.5k -5,500
50 D.A. DAVIDSON & CO. 0.02% of their portfolio GREAT FALLS, MT 17,10317.1k $1.6m $1.6m 0.02% Added +9 +9
51 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 16,83916.8k $1.5m $1.5m 0.00% Reduced -16.7k -16,660
52 Legato Capital Management LLC 0.29% of their portfolio San Francisco, CA 16,75416.8k $1.5m $1.5m 0.29% New
53 Dean Capital Management 2.02% of their portfolio OVERLAND PARK, KS 16,75416.8k $1.5m $1.5m 2.02% Added +640 +640
54 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 16,51316.5k $1.5m $1.5m 0.00% Reduced -708 -708
55 CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio RALEIGH, NC 16,21516.2k $1.5m $1.5m 0.01% Added +74 +74
56 Vestcor Inc 0.05% of their portfolio FREDERICTON, A3 14,58514.6k $1.3m $1.3m 0.05% Unchanged
57 Legal & General Group Plc 0.00% of their portfolio London, X0 13,73013.7k $1.2m $1.2m 0.00% Added +27 +27
58 Qube Research & Technologies Ltd 0.01% of their portfolio LONDON, X0 13,49513.5k $1.2m $1.2m 0.01% Reduced -24.3k -24,299
59 NORGES BANK 0.00% of their portfolio OSLO, Q8 13,16613.2k $1.2m $1.2m 0.00% Reduced -120.4k -120,356
60 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 12,81012.8k $1.2m $1.2m 0.00% Reduced -577 -577
61 ANCHOR CAPITAL ADVISORS LLC 0.03% of their portfolio Boston, MA 12,79012.8k $1.2m $1.2m 0.03% Reduced -594 -594
62 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 12,34412.3k $1.1m $1.1m 0.00% New
63 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 12,17512.2k $1.1m $1.1m 0.00% Added +1.9k +1,855
64 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 11,73311.7k $1.1m $1.1m 0.00% Added +1.4k +1,417
65 Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio SEOUL, M5 11,61711.6k $1.1m $1.1m 0.00% Reduced -224 -224
66 JENNISON ASSOCIATES LLC 0.00% of their portfolio NEW YORK, NY 10,76410.8k $976.8k $976.8k 0.00% Reduced -276 -276
67 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 10,72810.7k $973.8k $973.8k 0.00% Unchanged
68 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 8,8408.8k $802.3k $802.3k 0.00% Added +2.7k +2,656
69 OCCUDO QUANTITATIVE STRATEGIES LP 0.09% of their portfolio FORT LAUDERDALE, FL 8,4958.5k $770.9k $770.9k 0.09% New
70 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 8,2398.2k $751.3k $751.3k 0.00% Added +1.3k +1,313
71 UBS Group AG 0.00% of their portfolio ZURICH, V8 7,9477.9k $721.2k $721.2k 0.00% Added +6.0k +5,964
72 MetLife Investment Management, LLC 0.01% of their portfolio Whippany, NJ 7,7887.8k $706.8k $706.8k 0.01% Unchanged
73 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio BALA CYNWYD, PA 7,6127.6k $690.8k $690.8k 0.01% Reduced -1.1k -1,110
74 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 7,4417.4k $675.3k $675.3k 0.00% Added +1.4k +1,357
75 AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio New York, NY 6,8966.9k $625.8k $625.8k 0.00% Reduced -25 -25
76 SG Americas Securities, LLC 0.01% of their portfolio NEW YORK, NY 6,7116.7k $609.0k $609.0k 0.01% Reduced -449 -449
77 Capula Management Ltd 0.06% of their portfolio Grand Cayman, E9 6,6306.6k $601.7k $601.7k 0.06% New
78 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 6,3616.4k $577.3k $577.3k 0.00% New
79 Dynamic Technology Lab Private Ltd 0.05% of their portfolio SINGAPORE, U0 5,9906.0k $544.0k $544.0k 0.05% Added +960 +960
80 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio Toronto, A6 5,8355.8k $529.5k $529.5k 0.00% Reduced -147 -147
81 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 5,7065.7k $517.8k $517.8k 0.00% Unchanged
82 Aquatic Capital Management LLC 0.04% of their portfolio CHICAGO, IL 5,7005.7k $517.0k $517.0k 0.04% Added +5.6k +5,600
83 SHELL ASSET MANAGEMENT CO 0.02% of their portfolio THE HAGUE, P7 5,6225.6k $510.0k $510.0k 0.02% Reduced -1.0k -1,037
84 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 5,3655.4k $486.9k $486.9k 0.00% Reduced -1.1k -1,085
85 Summit Global Investments 0.04% of their portfolio BOUNTIFUL, UT 5,2005.2k $472.0k $472.0k 0.04% New
86 CANADA LIFE ASSURANCE Co 0.00% of their portfolio WINNIPEG, A2 4,8674.9k $444.0k $444.0k 0.00% Added +1.9k +1,897
87 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 4,7874.8k $434.4k $434.4k 0.00% Reduced -7.6k -7,587
88 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 4,4004.4k $399.3k $399.3k 0.00% New
89 Acrisure Capital Management, LLC 0.42% of their portfolio Austin, TX 4,2034.2k $381.4k $381.4k 0.42% First filing
90 ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio PHOENIX, AZ 4,1194.1k $373.8k $373.8k 0.00% Added +84 +84
91 Squarepoint Ops LLC 0.00% of their portfolio NEW YORK, NY 3,9253.9k $356.2k $356.2k 0.00% Reduced -749 -749
92 Campbell & CO Investment Adviser LLC 0.08% of their portfolio BALTIMORE, MD 3,8693.9k $351.1k $351.1k 0.08% New
93 Y-Intercept (Hong Kong) Ltd 0.04% of their portfolio HONG KONG, K3 3,3483.3k $303.8k $303.8k 0.04% New
94 BURNEY CO/ 0.02% of their portfolio RESTON, VA 3,2903.3k $298.6k $298.6k 0.02% Unchanged
95 MACKENZIE FINANCIAL CORP 0.00% of their portfolio TORONTO ONTARIO, A6 3,0063.0k $272.8k $272.8k 0.00% New
96 MAVERICK CAPITAL LTD 0.01% of their portfolio DALLAS, TX 2,8092.8k $254.9k $254.9k 0.01% Reduced -277 -277
97 BANK OF NOVA SCOTIA 0.00% of their portfolio TORONTO, A6 2,7732.8k $251.7k $251.7k 0.00% New
98 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 2,7562.8k $250.1k $250.1k 0.00% Reduced -985 -985
99 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.00% of their portfolio JUPITER, FL 2,7352.7k $248.2k $248.2k 0.00% Reduced -11.1k -11,132
100 Inspire Investing, LLC 0.03% of their portfolio MERIDIAN, ID 2,5802.6k $234.1k $234.1k 0.03% Reduced -33 -33