NELNET INC NNI
CL A · Common Stock · CUSIP 64031N108
Conglomerate centered on student loan repayment and education financial services
- SectorFinancials
- IndustryPersonal Credit Institutions
- HeadquartersLincoln, NE
- Websitenelnet.com
- FilingsSEC EDGAR
* 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 ($3.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $96.48. Options: 3 managers hold calls ($733.2k notional), 2 hold puts ($115.8k).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 151 |
| Q4 2022 | 164 |
| Q1 2023 | 152 |
| Q2 2023 | 145 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 69 | 68 |
| Q1 2023 | 70 | 75 |
| Q2 2023 | 62 | 73 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $2.5m | $973.0k | 0.39 |
| Q4 2022 | $2.2m | $1.1m | 0.50 |
| Q1 2023 | $2.6m | $1.4m | 0.53 |
| Q2 2023 | $733.2k | $115.8k | 0.16 |
Biggest buyers
| VANGUARD GROUP INC | Added | +107.4k |
| Bandera Partners LLC | New | +23.8k |
| BlackRock Inc. | Added | +21.0k |
| Sycale Advisors (NY) LLC | Added | +19.0k |
| Nuveen Asset Management, LLC | Added | +17.6k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +12.6k |
| Qube Research & Technologies Ltd | New | +12.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | +12.0k |
| JPMORGAN CHASE & CO | Added | +11.1k |
| CITIGROUP INC | Added | +9.8k |
Biggest sellers
| Boston Partners | Reduced | -67.9k |
| Brandywine Global Investment Management, LLC | Reduced | -56.1k |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -41.5k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -25.3k |
| GOLDMAN SACHS GROUP INC | Reduced | -19.7k |
| Livforsakringsbolaget Skandia, Omsesidigt | Reduced | -18.6k |
| Cubist Systematic Strategies, LLC | Sold out | -16.3k |
| TEACHER RETIREMENT SYSTEM OF TEXAS | Reduced | -14.5k |
| Moody Aldrich Partners LLC | Sold out | -12.9k |
| PRUDENTIAL FINANCIAL INC | Reduced | -11.6k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $482.4k5.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $250.8k2.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $115.8k1.2k 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.
| Holder | Stake |
|---|---|
| DUNLAP MICHAEL S 13D · may seek influence filed 2025-11-13 | 37.8% |
| Whitetail Rock Capital Management, LLC 13G · institution filed 2026-05-13 | 21.6% |
| MUHLEISEN ANGIE 13G · exempt (held before listing) filed 2025-11-13 | 18.1% |
| UNION BANK & TRUST CO / TRUSTEE 13G · exempt (held before listing) filed 2025-11-13 | 7.9% |
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% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27)
Insider purchases and sales in Q2 2023
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)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 1 | $490.4k | — |
| Q1 2022 | 0 | — | 1 | $130.2k | — |
| Q2 2022 | 0 | — | 1 | $122.8k | — |
| Q3 2022 | 0 | — | 1 | $122.7k | — |
| Q4 2022 | 0 | — | 1 | $169.1k | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 2.1m $201.4m | Reduced -25.3k |
| MAGNOLIA GROUP, LLC 26.59% of their portfolio | 1.9m $183.3m | Unchanged |
| VANGUARD GROUP INC 0.00% of their portfolio | 1.4m $137.0m | Added +107.4k |
| FARMERS & MERCHANTS INVESTMENTS INC 4.98% of their portfolio | 1.4m $132.2m | Added +245 |
| BlackRock Inc. 0.00% of their portfolio | 1.1m $104.5m | Added +21.0k |
| Empyrean Capital Partners, LP 2.41% of their portfolio | 480.1k $46.3m | Unchanged |
| STATE STREET CORP 0.00% of their portfolio | 330.5k $31.9m | Added +1.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 318.1k $30.7m | Added +8.8k |
| SNYDER CAPITAL MANAGEMENT L P 0.59% of their portfolio | 286.8k $27.7m | Reduced -917 |
| Sycale Advisors (NY) LLC 10.97% of their portfolio | 261.6k $25.2m | Added +19.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 247.9k $23.9m | Added +2.3k |
| GENERAL AMERICAN INVESTORS CO INC 2.04% of their portfolio | 243.4k $23.5m | Unchanged |
| QVT Financial LP 1.30% of their portfolio | 229.7k $22.2m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 204.7k $19.8m | Added +11.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 187.9k $18.1m | Reduced -4.0k |
| Boston Partners 0.02% of their portfolio | 175.2k $17.0m | Reduced -67.9k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 119.0k $11.5m | Added +4.5k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 107.0k $10.3m | Reduced -1.6k |
| BAR HARBOR WEALTH MANAGEMENT 0.76% of their portfolio | 102.6k $9.9m | Added +308 |
| MORGAN STANLEY 0.00% of their portfolio | 61.9k $6.0m | Added +3.4k |
| HighTower Advisors, LLC 0.01% of their portfolio | 59.6k $5.7m | Reduced -497 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 58.5k $5.6m | Reduced -5.8k |
| Brandywine Global Investment Management, LLC 0.05% of their portfolio | 56.2k $5.4m | Reduced -56.1k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 52.8k $5.1m | Added +2.6k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 52.5k $5.1m | Added +17.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 42.7k $4.1m | Reduced -19.7k |
| ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio | 38.0k $3.7m | Reduced -41.5k |
| DENALI ADVISORS LLC 1.24% of their portfolio | 36.7k $3.5m | Unchanged |
| DEAN INVESTMENT ASSOCIATES, LLC 0.57% of their portfolio | 36.4k $3.5m | Reduced -1.7k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 34.2k $3.3m | Reduced -11.6k |
| Invesco Ltd. 0.00% of their portfolio | 33.5k $3.2m | Added +3.1k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 32.3k $3.1m | Added +260 |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 32.2k $3.1m | Reduced -3.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 32.2k $3.1m | Added +12.6k |
| Swiss National Bank 0.00% of their portfolio | 31.9k $3.1m | Added +500 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 27.7k $2.7m | Added +12.0k |
| Guardian Wealth Management, Inc. 2.33% of their portfolio | 26.5k $2.6m | Added +1.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 24.4k $2.2m | Unchanged |
| Bandera Partners LLC 0.98% of their portfolio | 23.8k $2.3m | New |
| JAMES INVESTMENT RESEARCH, INC. 0.29% of their portfolio | 23.4k $2.3m | Unchanged |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 20.2k $1.9m | Added +1.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 20.0k $1.9m | Reduced -1.6k |
| Amundi 0.00% of their portfolio | 19.9k $1.9m | Reduced -7.7k |
| CREDIT SUISSE AG/ 0.00% of their portfolio | 18.8k $1.8m | Added +5.9k |
| UBS Group AG 0.00% of their portfolio | 17.7k $1.7m | Added +9.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 17.7k $1.7m | Reduced -466 |
| D.A. DAVIDSON & CO. 0.02% of their portfolio | 17.0k $1.6m | Reduced -158 |
| CAPTRUST FINANCIAL ADVISORS 0.01% of their portfolio | 16.4k $1.6m | Reduced -18 |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 16.4k $1.6m | Added +8.9k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio | 15.5k $1.5m | Reduced -14.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 14.8k $1.4m | Reduced -6.0k |
| Legato Capital Management LLC 0.19% of their portfolio | 14.5k $1.4m | Added +109 |
| Dean Capital Management 1.86% of their portfolio | 14.5k $1.4m | Added +109 |
| Vestcor Inc 0.05% of their portfolio | 14.3k $1.4m | Reduced -239 |
| Legal & General Group Plc 0.00% of their portfolio | 14.1k $1.4m | Added +757 |
| LPL Financial LLC 0.00% of their portfolio | 14.0k $1.4m | Added +1.9k |
| BARCLAYS PLC 0.00% of their portfolio | 14.0k $1.3m | Reduced -5.1k |
| CITIGROUP INC 0.00% of their portfolio | 12.6k $1.2m | Added +9.8k |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 12.3k $1.2m | New |
| ANCHOR CAPITAL ADVISORS LLC 0.03% of their portfolio | 11.9k $1.1m | Reduced -153 |
| M&T Bank Corp 0.00% of their portfolio | 10.7k $1.0m | Unchanged |
| Mirae Asset Global Investments Co., Ltd. 0.00% of their portfolio | 10.1k $971.8k | Reduced -1.3k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 9.6k $925.0k | Reduced -6.7k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.08% of their portfolio | 8.3k $803.1k | New |
| MetLife Investment Management, LLC 0.01% of their portfolio | 7.8k $751.4k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 7.1k $680.7k | Added +2.6k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.00% of their portfolio | 7.0k $676.5k | Reduced -24 |
| MARTINGALE ASSET MANAGEMENT L P 0.01% of their portfolio | 6.9k $666.7k | Added +1.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 6.7k $650.0k | Added +3.9k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 6.5k $630.4k | Added +745 |
| Skandinaviska Enskilda Banken AB (publ) 0.00% of their portfolio | 6.3k $608.0k | Reduced -6.4k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 6.1k $588.9k | Reduced -3.5k |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 6.1k $586.9k | Reduced -3 |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 6.0k $578.7k | Added +350 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 5.9k $570.7k | Reduced -4 |
| Livforsakringsbolaget Skandia, Omsesidigt 0.06% of their portfolio | 5.8k $557.5k | Reduced -18.6k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 5.7k $548.0k | Added +1.5k |
| Edgestream Partners, L.P. 0.05% of their portfolio | 5.7k $546.9k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 5.3k $510.7k | Reduced -4.8k |
| CANADA LIFE ASSURANCE Co 0.00% of their portfolio | 5.1k $498.0k | Added +690 |
| SEI INVESTMENTS CO 0.00% of their portfolio | 4.8k $464.6k | Reduced -9.2k |
| Jump Financial, LLC 0.02% of their portfolio | 4.6k $440.6k | New |
| Allianz Asset Management GmbH 0.00% of their portfolio | 4.5k $433.0k | Reduced -1.1k |
| OCCUDO QUANTITATIVE STRATEGIES LP 0.04% of their portfolio | 4.3k $418.0k | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.00% of their portfolio | 4.1k $399.4k | New |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 4.1k $396.8k | Reduced -100 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio | 3.4k $329.2k | Reduced -4.2k |
| BURNEY CO/ 0.01% of their portfolio | 3.3k $316.9k | Reduced -5 |
| Inspire Investing, LLC 0.04% of their portfolio | 3.3k $314.0k | Added +276 |
| CORSAIR CAPITAL MANAGEMENT, L.P. 0.10% of their portfolio | 3.0k $289.2k | Unchanged |
| SHELL ASSET MANAGEMENT CO 0.01% of their portfolio | 2.9k $275.0k | Reduced -2.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 2.8k $269.9k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 2.6k $254.0k | Reduced -5.9k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 2.6k $248.0k | Added +1.1k |
| Handelsbanken Fonder AB 0.00% of their portfolio | 2.4k $227.0k | Unchanged |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 2.3k $220.9k | Added +376 |
| Creative Planning 0.00% of their portfolio | 2.3k $220.6k | Added +35 |
| BUCKINGHAM STRATEGIC WEALTH, LLC 0.00% of their portfolio | 2.2k $216.2k | Unchanged |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 2.1k $206.2k | New |
| SECURITY NATIONAL BANK OF SIOUX CITY IOWA /IA/ 0.15% of their portfolio | 2.1k $202.6k | First filing |