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 ($58.5k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $133.22. Options: 1 managers hold calls ($493.3k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 151 |
| Q4 2022 | 164 |
| Q1 2023 | 152 |
| Q2 2023 | 145 |
| Q3 2023 | 146 |
| Q4 2023 | 158 |
| Q1 2024 | 154 |
| Q2 2024 | 160 |
| Q3 2024 | 160 |
| Q4 2024 | 166 |
| Q1 2025 | 180 |
| Q2 2025 | 193 |
| Q3 2025 | 204 |
| Q4 2025 | 220 |
| Q1 2026 | 219 |
| Q2 2026 | 213 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 69 | 69 |
| Q4 2024 | 74 | 68 |
| Q1 2025 | 88 | 61 |
| Q2 2025 | 90 | 75 |
| Q3 2025 | 98 | 81 |
| Q4 2025 | 100 | 92 |
| Q1 2026 | 110 | 88 |
| Q2 2026 | 118 | 79 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $0 | $852.6k | — |
| Q4 2025 | $0 | $0 | — |
| Q1 2026 | $657.7k | $12.9k | 0.02 |
| Q2 2026 | $493.3k | $0 | 0.00 |
Biggest buyers
| BlackRock, Inc. | Added | +184.3k |
| AMERICAN CENTURY COMPANIES INC | Added | +85.0k |
| VICTORY CAPITAL MANAGEMENT INC | Added | +65.3k |
| STATE STREET CORP | Added | +50.5k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +42.9k |
| CITADEL ADVISORS LLC | Added | +30.9k |
| BANK OF AMERICA CORP /DE/ | Added | +30.3k |
| CAPITAL FUND MANAGEMENT S.A. | New | +23.6k |
| Bragg Financial Advisors, Inc | Added | +21.7k |
| MARSHALL WACE, LLP | Added | +21.5k |
Biggest sellers
| MAGNOLIA GROUP, LLC | Reduced | -399.3k |
| JANE STREET GROUP, LLC | Reduced | -62.5k |
| Qube Research & Technologies Ltd | Reduced | -36.1k |
| Militia Capital Management LLC | Sold out | -27.0k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -20.0k |
| Man Group plc | Sold out | -19.2k |
| MILLENNIUM MANAGEMENT LLC | Sold out | -18.3k |
| Sycale Advisors (NY) LLC | Reduced | -17.4k |
| Edgestream Partners, L.P. | Reduced | -12.2k |
| BARCLAYS PLC | Reduced | -11.7k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $493.3k3.7k shares |
Biggest puts
| None |
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 since 1 Apr 2026
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 |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 2 | $320.8k | $320.8k |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 0 | — | 1 | $1.1m | $1.1m |
| Q4 2025 | 0 | — | 1 | $51.6k | $51.6k |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.9m $247.0m | Added +4.6k |
| MAGNOLIA GROUP, LLC 35.54% of their portfolio | 1.3m $169.3m | Reduced -399.3k |
| FARMERS & MERCHANTS INVESTMENTS INC 3.81% of their portfolio | 1.2m $157.2m | Reduced -5.0k |
| BlackRock, Inc. 0.00% of their portfolio | 1.2m $155.0m | Added +184.3k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 695.6k $92.7m | Added +16.2k |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 585.0k $78.0m | Added +7.0k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 420.7k $56.1m | Added +85.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 389.6k $52.0m | Added +42.9k |
| STATE STREET CORP 0.00% of their portfolio | 365.4k $48.7m | Added +50.5k |
| Bragg Financial Advisors, Inc 0.89% of their portfolio | 248.5k $33.1m | Added +21.7k |
| QVT Financial LP 1.97% of their portfolio | 231.4k $30.9m | Unchanged |
| Empyrean Capital Partners, LP 1.08% of their portfolio | 231.0k $30.8m | Unchanged |
| GENERAL AMERICAN INVESTORS CO INC 1.87% of their portfolio | 231.0k $30.8m | Reduced -3.0k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 189.6k $25.3m | Added +16.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 167.8k $22.4m | Added +5.7k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 152.8k $20.4m | Added +18.8k |
| BAR HARBOR WEALTH MANAGEMENT 0.78% of their portfolio | 108.6k $14.5m | Reduced -119 |
| MORGAN STANLEY 0.00% of their portfolio | 94.4k $12.6m | Added +17.2k |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 91.7k $12.2m | Added +3.2k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 89.0k $11.9m | Added +7.5k |
| Sycale Advisors (NY) LLC 4.93% of their portfolio | 83.1k $11.1m | Reduced -17.4k |
| UBS Group AG 0.00% of their portfolio | 78.7k $10.5m | Reduced -3.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 74.7k $10.0m | Added +65.3k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 72.6k $9.7m | Reduced -36.1k |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 70.1k $9.4m | Added +2.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 68.7k $9.2m | Added +19.8k |
| LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE 2.44% of their portfolio | 66.0k $8.8m | Reduced -420 |
| MARSHALL WACE, LLP 0.01% of their portfolio | 63.2k $8.4m | Added +21.5k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 57.1k $7.6m | Added +30.9k |
| Guardian Wealth Management, Inc. 3.50% of their portfolio | 53.4k $7.1m | Added +2.1k |
| Bandera Partners LLC 2.14% of their portfolio | 47.2k $6.1m | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 44.5k $5.9m | Added +30.3k |
| Crawford Fund Management, LLC 1.82% of their portfolio | 44.5k $5.9m | Reduced -2.5k |
| DENALI ADVISORS LLC 0.53% of their portfolio | 39.8k $5.3m | Reduced -1.4k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 39.5k $5.3m | Added +1.5k |
| Edgestream Partners, L.P. 0.15% of their portfolio | 38.5k $5.1m | Reduced -12.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 36.1k $4.8m | Reduced -5.9k |
| LPL Financial LLC 0.00% of their portfolio | 35.8k $4.8m | Reduced -1.8k |
| HighTower Advisors, LLC 0.00% of their portfolio | 35.8k $4.8m | Added +1.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 35.2k $4.7m | Added +8.0k |
| Nuveen, LLC 0.00% of their portfolio | 32.2k $4.3m | Added +3.9k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 28.0k $3.7m | Added +3.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 28.0k $3.7m | Reduced -20.0k |
| Swiss National Bank 0.00% of their portfolio | 28.0k $3.7m | Added +300 |
| DARK FOREST CAPITAL MANAGEMENT LP 0.23% of their portfolio | 27.0k $3.6m | Added +12.8k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 26.9k $3.6m | Added +3.9k |
| MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio | 26.0k $3.5m | Added +4.7k |
| Invesco Ltd. 0.00% of their portfolio | 25.0k $3.3m | Added +1.9k |
| D.A. DAVIDSON & CO. 0.02% of their portfolio | 24.6k $3.3m | Added +562 |
| CAPITAL FUND MANAGEMENT S.A. 0.02% of their portfolio | 23.6k $3.1m | New |
| HUB Investment Partners, LLC 0.05% of their portfolio | 20.8k $2.8m | Added +500 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 19.9k $2.6m | Added +3.4k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 19.9k $2.7m | Added +14.2k |
| Mariner, LLC 0.00% of their portfolio | 19.7k $2.6m | Added +14.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 19.2k $2.6m | Added +13.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 17.7k $2.4m | Added +4.4k |
| Prescott Group Capital Management, L.L.C. 0.20% of their portfolio | 17.2k $2.3m | Unchanged |
| FIRST MANHATTAN CO. LLC. 0.01% of their portfolio | 16.8k $2.2m | Reduced -370 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 16.8k $2.2m | Added +5.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 15.6k $2.1m | Added +5.2k |
| MARTINGALE ASSET MANAGEMENT L P 0.05% of their portfolio | 15.4k $2.1m | Reduced -3.3k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 14.9k $2.0m | Added +209 |
| CITIGROUP INC 0.00% of their portfolio | 14.9k $2.0m | Added +4.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 14.7k $2.0m | Added +1.2k |
| CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio | 14.6k $1.9m | Reduced -1.4k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 14.0k $1.9m | Added +8.5k |
| Pilgrim Partners Asia Pte Ltd 0.82% of their portfolio | 14.0k $1.9m | Added +2.0k |
| ACADIAN ASSET MANAGEMENT LLC 0.00% of their portfolio | 14.0k $1.9m | Added +8.6k |
| JAMES INVESTMENT RESEARCH, INC. 0.19% of their portfolio | 13.9k $1.8m | Reduced -6.9k |
| ALLSTATE CORP 0.02% of their portfolio | 13.8k $1.8m | New |
| ANCHOR CAPITAL ADVISORS LLC 0.05% of their portfolio | 13.3k $1.8m | Reduced -528 |
| Legal & General Group Plc 0.00% of their portfolio | 13.2k $1.8m | Added +1.3k |
| Creative Planning 0.00% of their portfolio | 12.9k $1.7m | Reduced -1.9k |
| XTX Topco Ltd 0.02% of their portfolio | 12.4k $1.7m | Added +8.2k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 11.7k $1.6m | Unchanged |
| Quantinno Capital Management LP 0.00% of their portfolio | 11.6k $1.5m | Added +6.7k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 11.1k $1.5m | Reduced -9.3k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 10.7k $1.4m | Added +6.9k |
| BOKF, NA 0.02% of their portfolio | 10.0k $1.3m | New |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio | 9.6k $268.3k | Added +654 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 9.0k $1.2m | Added +472 |
| Fieldview Capital Management, LLC 0.34% of their portfolio | 8.9k $1.2m | Reduced -7.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 8.9k $1.2m | Added +1.2k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.02% of their portfolio | 8.9k $1.2m | Reduced -66 |
| MetLife Investment Management, LLC 0.01% of their portfolio | 8.7k $1.2m | Added +1.7k |
| NorthCrest Asset Manangement, LLC 0.03% of their portfolio | 7.6k $1.0m | Added +95 |
| ExodusPoint Capital Management, LP 0.01% of their portfolio | 7.5k $1.0m | Reduced -4.0k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 7.1k $945.2k | Reduced -62.5k |
| Handelsbanken Fonder AB 0.00% of their portfolio | 6.8k $900.0k | Added +1.6k |
| Engineers Gate Manager LP 0.01% of their portfolio | 6.6k $886.4k | Added +929 |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 6.4k $857.7k | Added +4.0k |
| Jupiter Topco LLC 0.00% of their portfolio | 6.0k $801.2k | First filing |
| QRG CAPITAL MANAGEMENT, INC. 0.01% of their portfolio | 5.4k $723.8k | Added +700 |
| Corient Private Wealth LP 0.00% of their portfolio | 5.2k $687.3k | New |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 5.1k $684.1k | Reduced -452 |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 0.01% of their portfolio | 5.1k $679.0k | Reduced -3.0k |
| Inspire Investing, LLC 0.03% of their portfolio | 5.1k $678.0k | Added +1.1k |
| INTECH INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 4.7k $624.1k | Added +380 |
| AVITY INVESTMENT MANAGEMENT INC. 0.04% of their portfolio | 4.6k $613.9k | Unchanged |
| Proficio Capital Partners LLC 0.02% of their portfolio | 4.6k $606.9k | Added +112 |