NNI · Nelnet Inc · Shareholders & Ownership

$125.85 +0.33 (+0.26%)

Russell 2000 member Rebalance outlook locked

Market Cap

$4.49B

35.78M

Volume · Oct 22 178.43K Avg daily vol (3M) 136.95K

Every disclosed holder of NNI in one list: 13F institutions, Schedule 13D and 13G filers, insiders (Forms 3, 4 and 5) and registered funds, each from its own latest filing. Holders nest by CIK and SEC reporting links, never by name, and each is summed once.

How the holder list picks a filing →

Who Owns NNI

13F quarter Sep 30, 2026, combined view: filers that have not filed yet carry their Jun 30, 2026 positions

No chart: the summed disclosures exceed shares outstanding, so they are not parts of one whole.

Holder group	Holders	Shares	% Out	Summed
Institutional (13F)	212	11,800,889	32.98%	Yes
Insiders (Forms 3, 4, 5)	0	0	0.00%	No
13D/G-only blocks	7	35,426,127	99.01%	Yes
Remaining	—	11,447,578	-31.99%	Negative
Registered funds (N-PORT, not summed)	196	5,341,571	14.93%	No

Shares outstanding: 35,779,438, the issuer's latest cover-page count restated onto today's split basis.

Insiders are listed but not summed: the issuer has more than one class of common stock and Forms 3, 4 and 5 report one issuer-wide balance across them.

Remaining is negative: the summed disclosures exceed shares outstanding, as when filings are dated at different times or holders that do not disclose their links count the same shares. It is flagged, not clipped.

13D/G-only counts each filer's latest 13D or 13G that no 13F report of the listing contains, that names no 13F filer and that no counted insider files. Funds are never summed: their shares sit inside their advisers' 13F reports.

Holders of NNI

One row per holder Every filing By ultimate parent

All 13F Funds Insiders 13D/G Non-US

#	Holder	Shares	% Out	Change	As of	Notes
1	Whitetail Rock Capital Management, LLC 13G CIK 1541685 · Registered investment adviser · Mar 31, 2026 Rule 13d-1(b), qualified institution	6,881,976	19.23%	-780,157	Mar 31, 2026	Rule 13d-1(b), qualified institution
2	DUNLAP MICHAEL S Insider CIK 1269797 · Dec 1, 2025 Director, Executive Chairman of Board, 10% Owner, issuer-wide, not summed	5,294,778	14.80%	—	Dec 1, 2025	Director, Executive Chairman of Board, 10% Owner, issuer-wide, not summed
2.1	Dunlap, Michael S. 13D CIK 1269797 · Unknown · Nov 10, 2025	13,387,235	37.42%	-1,911,017	Nov 10, 2025
3	Muhleisen, Angela L. 13G CIK 1269812 · Unknown · Sep 30, 2025 Rule 13d-1(d), exempt investor	4,683,900	13.09%	-1,815,146	Sep 30, 2025	Rule 13d-1(d), exempt investor
3.1	MUHLEISEN ANGIE Insider CIK 1269812 · Aug 18, 2025 10% Owner, issuer-wide, not summed	3,188,672	8.91%	—	Aug 18, 2025	10% Owner, issuer-wide, not summed
4	Muhleisen, Dan D. 13G CIK 1754038 · Unknown · Dec 31, 2023 Rule 13d-1(c), passive investor	3,688,084	10.31%	—	Dec 31, 2023	Rule 13d-1(c), passive investor
5	Butterfield Shelby J Insider CIK 1808121 · Aug 25, 2025 Insider, issuer-wide, not summed	2,816,059	7.87%	—	Aug 25, 2025	Insider, issuer-wide, not summed
5.1	Shelby J. Butterfield 13G CIK 1808121 · Unknown · Dec 31, 2023 Rule 13d-1(c), passive investor	2,873,527	8.03%	—	Dec 31, 2023	Rule 13d-1(c), passive investor
6	UNION BANK & TRUST CO / TRUSTEE 13G CIK 1272071 · Unknown · Sep 30, 2025 Rule 13d-1(d), exempt investor	2,047,228	5.72%	-1,814,541	Sep 30, 2025	Rule 13d-1(d), exempt investor
7	Deborah Bartels 13G CIK 1569325 · Unknown · Dec 31, 2023 Rule 13d-1(d), exempt investor	1,864,177	5.21%	—	Dec 31, 2023	Rule 13d-1(d), exempt investor
8	DIMENSIONAL FUND ADVISORS LP 13F CIK 354204 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	1,852,273	5.18%	+4,574	Jun 30, 2026	carried, not yet filed for the newest quarter
8.1	U.S. SMALL CAP VALUE PORTFOLIO Fund S000000987 · Registered fund · Jul 31, 2026 DFA INVESTMENT DIMENSIONS GROUP INC, not summed	539,608	1.51%	0	Jul 31, 2026	DFA INVESTMENT DIMENSIONS GROUP INC, not summed
8.2	U.S. Targeted Value Portfolio Fund S000000970 · Registered fund · Jul 31, 2026 DFA INVESTMENT DIMENSIONS GROUP INC, not summed	236,090	0.66%	0	Jul 31, 2026	DFA INVESTMENT DIMENSIONS GROUP INC, not summed
8.3	U.S. SMALL CAP PORTFOLIO Fund S000000971 · Registered fund · Jul 31, 2026 DFA INVESTMENT DIMENSIONS GROUP INC, not summed	218,481	0.61%	0	Jul 31, 2026	DFA INVESTMENT DIMENSIONS GROUP INC, not summed
8.4	Dimensional U.S. Targeted Value ETF Fund S000070901 · Registered fund · Jul 31, 2026 Dimensional ETF Trust, not summed	162,825	0.46%	+2,453	Jul 31, 2026	Dimensional ETF Trust, not summed
8.5	Dimensional US Small Cap Value ETF Fund S000075151 · Registered fund · Jul 31, 2026 Dimensional ETF Trust, not summed	132,052	0.37%	+6,100	Jul 31, 2026	Dimensional ETF Trust, not summed
9	Peterson Adam K Insider CIK 1667769 · Mar 30, 2026 Insider, issuer-wide, not summed	1,678,520	4.69%	0	Mar 30, 2026	Insider, issuer-wide, not summed
10	Magnolia Capital Fund, LP 13D CIK 1618333 · Unknown · May 14, 2026 Item 4 purpose: Capital return not summed	1,493,149	4.17%	-9,554	May 14, 2026	not summed
11	MAGNOLIA GROUP, LLC 13F CIK 1618376 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	1,269,723	3.55%	-399,253	Jun 30, 2026	carried, not yet filed for the newest quarter
12	FARMERS & MERCHANTS INVESTMENTS INC 13F CIK 1259969 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	1,179,351	3.30%	-5,000	Jun 30, 2026	carried, not yet filed for the newest quarter
13	BlackRock, Inc. 13F CIK 2012383 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	1,162,288	3.25%	+184,254	Jun 30, 2026	carried, not yet filed for the newest quarter
13.1	iShares Russell 2000 ETF Fund S000004344 · Registered fund · Jun 30, 2026 iShares Trust, not summed	389,398	1.09%	+74,062	Jun 30, 2026	iShares Trust, not summed
13.2	iShares Russell 2000 Value ETF Fund S000004342 · Registered fund · Jun 30, 2026 iShares Trust, not summed	144,364	0.40%	+32,761	Jun 30, 2026	iShares Trust, not summed
13.3	Master Small Cap Index Series Fund S000002716 · Registered fund · Jun 30, 2026 Quantitative Master Series LLC, not summed	27,079	0.08%	+8,860	Jun 30, 2026	Quantitative Master Series LLC, not summed
13.4	iShares Core S&P Total U.S. Stock Market ETF Fund S000004317 · Registered fund · Jun 30, 2026 iShares Trust, not summed	20,601	0.06%	+544	Jun 30, 2026	iShares Trust, not summed
13.5	iShares Morningstar Small-Cap Growth ETF Fund S000004434 · Registered fund · Jul 31, 2026 iShares Trust, not summed	5,098	0.01%	+2,457	Jul 31, 2026	iShares Trust, not summed
14	VANGUARD PORTFOLIO MANAGEMENT LLC 13F CIK 2100121 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	695,621	1.94%	+16,226	Jun 30, 2026	carried, not yet filed for the newest quarter
15	VANGUARD CAPITAL MANAGEMENT LLC 13F CIK 2100119 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	584,970	1.63%	+7,030	Jun 30, 2026	carried, not yet filed for the newest quarter
16	NOORDHOEK JEFFREY R Insider CIK 1269813 · Mar 10, 2026 Chief Executive Officer, issuer-wide, not summed	547,053	1.53%	—	Mar 10, 2026	Chief Executive Officer, issuer-wide, not summed
17	AMERICAN CENTURY COMPANIES INC 13F CIK 748054 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	420,692	1.18%	+84,990	Jun 30, 2026	carried, not yet filed for the newest quarter
18	VANGUARD TOTAL STOCK MARKET INDEX FUND Fund S000002848 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	402,356	1.12%	+2,185	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
19	GEODE CAPITAL MANAGEMENT, LLC 13F CIK 1214717 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	389,595	1.09%	+42,907	Jun 30, 2026	carried, not yet filed for the newest quarter
20	STATE STREET CORP 13F CIK 93751 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	365,440	1.02%	+50,462	Jun 30, 2026	carried, not yet filed for the newest quarter
20.1	State Street(R) SPDR(R) US Small Cap Low Volatility Index ETF Fund S000039795 · Registered fund · Jun 30, 2026 SPDR SERIES TRUST, not summed	8,830	0.02%	-651	Jun 30, 2026	SPDR SERIES TRUST, not summed
20.2	STATE STREET SMALL/MID CAP EQUITY INDEX PORTFOLIO Fund S000050332 · Registered fund · Jun 30, 2026 STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed	4,642	0.01%	+200	Jun 30, 2026	STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed
20.3	State Street Total Return V.I.S. Fund Fund S000001637 · Registered fund · Jun 30, 2026 STATE STREET VARIABLE INSURANCE SERIES FUNDS INC, not summed	378	0.00%	+71	Jun 30, 2026	STATE STREET VARIABLE INSURANCE SERIES FUNDS INC, not summed
20.4	State Street Balanced Index Fund Fund S000082802 · Registered fund · Jun 30, 2026 STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed	85	0.00%	0	Jun 30, 2026	STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed
21	Avantis U.S. Small Cap Value ETF Fund S000066459 · Registered fund · May 31, 2026 American Century ETF Trust, not summed	330,884	0.92%	+55,331	May 31, 2026	American Century ETF Trust, not summed
22	VANGUARD SMALL-CAP INDEX FUND Fund S000002845 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	290,092	0.81%	-1,145	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
23	HEIMES TERRY J Insider CIK 1269804 · Mar 10, 2026 Chief Operating Officer, issuer-wide, not summed	252,223	0.70%	—	Mar 10, 2026	Chief Operating Officer, issuer-wide, not summed
24	Bragg Financial Advisors, Inc 13F CIK 1327055 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	248,493	0.69%	+21,711	Jun 30, 2026	carried, not yet filed for the newest quarter
25	Dunlap Matthew W Insider CIK 1917996 · Jun 10, 2026 Director, President, NFS, issuer-wide, not summed	243,251	0.68%	-15	Jun 10, 2026	Director, President, NFS, issuer-wide, not summed
26	QVT Financial LP 13F CIK 1290162 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	231,414	0.65%	0	Jun 30, 2026	carried, not yet filed for the newest quarter
27	Empyrean Capital Partners, LP 13F CIK 1317195 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	231,000	0.65%	0	Jun 30, 2026	carried, not yet filed for the newest quarter
28	GENERAL AMERICAN INVESTORS CO INC 13F CIK 40417 · Registered fund · Jun 30, 2026 carried, not yet filed for the newest quarter	230,998	0.65%	-3,028	Jun 30, 2026	carried, not yet filed for the newest quarter
29	General American Investors Company, Inc. Fund · Registered fund · Jun 30, 2026 General American Investors Company, Inc., not summed	230,998	0.65%	—	Jun 30, 2026	General American Investors Company, Inc., not summed
30	FPA Queens Road Small Cap Value Fund Fund S000080694 · Registered fund · May 31, 2026 Investment Managers Series Trust III, not summed	213,043	0.60%	0	May 31, 2026	Investment Managers Series Trust III, not summed
31	NORTHERN TRUST CORP 13F CIK 73124 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	189,609	0.53%	+16,204	Jun 30, 2026	carried, not yet filed for the newest quarter
31.1	Small Cap Value Fund Fund S000001246 · Registered fund · Jun 30, 2026 Northern Funds, not summed	35,869	0.10%	0	Jun 30, 2026	Northern Funds, not summed
31.2	Small Cap Index Fund Fund S000001245 · Registered fund · Jun 30, 2026 Northern Funds, not summed	7,565	0.02%	+1,488	Jun 30, 2026	Northern Funds, not summed
31.3	Small Cap Core Fund Fund S000001244 · Registered fund · Jun 30, 2026 Northern Funds, not summed	4,197	0.01%	-120	Jun 30, 2026	Northern Funds, not summed
31.4	FlexShares Morningstar US Market Factor Tilt Index Fund Fund S000033312 · Registered fund · Jul 31, 2026 FlexShares Trust, not summed	1,169	0.00%	+56	Jul 31, 2026	FlexShares Trust, not summed
32	Kruger James D Insider CIK 1593432 · Oct 5, 2026 Chief Financial Officer, issuer-wide, not summed	186,121	0.52%	—	Oct 5, 2026	Chief Financial Officer, issuer-wide, not summed
33	VANGUARD SMALL-CAP VALUE INDEX FUND Fund S000002847 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	183,903	0.51%	-1,498	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
34	CHARLES SCHWAB INVESTMENT MANAGEMENT INC 13F CIK 884546 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	167,793	0.47%	+5,701	Jun 30, 2026	carried, not yet filed for the newest quarter
34.1	Schwab U.S. Small-Cap ETF Fund S000026636 · Registered fund · May 31, 2026 SCHWAB STRATEGIC TRUST, not summed	66,955	0.19%	-879	May 31, 2026	SCHWAB STRATEGIC TRUST, not summed
34.2	Schwab Small-Cap Index Fund Fund S000005912 · Registered fund · Jul 31, 2026 SCHWAB CAPITAL TRUST, not summed	36,154	0.10%	+7,785	Jul 31, 2026	SCHWAB CAPITAL TRUST, not summed
34.3	Schwab Fundamental U.S. Small Company ETF Fund S000040878 · Registered fund · May 31, 2026 SCHWAB STRATEGIC TRUST, not summed	34,573	0.10%	-3,141	May 31, 2026	SCHWAB STRATEGIC TRUST, not summed
34.4	Schwab Fundamental U.S. Small Company Index Fund Fund S000016767 · Registered fund · Jul 31, 2026 SCHWAB CAPITAL TRUST, not summed	10,097	0.03%	+901	Jul 31, 2026	SCHWAB CAPITAL TRUST, not summed
34.5	Schwab Total Stock Market Index Fund Fund S000005913 · Registered fund · Jul 31, 2026 SCHWAB CAPITAL TRUST, not summed	8,758	0.02%	0	Jul 31, 2026	SCHWAB CAPITAL TRUST, not summed
35	VANGUARD EXTENDED MARKET INDEX FUND Fund S000002841 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	159,391	0.45%	+4,586	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
36	JPMORGAN CHASE & CO 13F CIK 19617 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	152,759	0.43%	+18,824	Jun 30, 2026	carried, not yet filed for the newest quarter
37	BAR HARBOR WEALTH MANAGEMENT 13F CIK 1035463 · Unknown · Sep 30, 2026	107,656	0.30%	-933	Sep 30, 2026
38	MORGAN STANLEY 13F CIK 895421 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	94,412	0.26%	+17,227	Jun 30, 2026	carried, not yet filed for the newest quarter
38.1	E*TRADE No Fee Total Market Index Fund Fund S000090722 · Registered fund · Jul 31, 2026 E Trade Trust, not summed	15	0.00%	0	Jul 31, 2026	E Trade Trust, not summed
39	Tewes Timothy Insider CIK 1427909 · Mar 10, 2026 President, issuer-wide, not summed	94,048	0.26%	+10,974	Mar 10, 2026	President, issuer-wide, not summed
40	VANGUARD FIDUCIARY TRUST CO 13F CIK 933478 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	91,686	0.26%	+3,199	Jun 30, 2026	carried, not yet filed for the newest quarter
41	Bank of New York Mellon Corp 13F CIK 1390777 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	88,973	0.25%	+7,538	Jun 30, 2026	carried, not yet filed for the newest quarter
41.1	BNY Mellon US Small Cap Core Equity ETF Fund S000067262 · Registered fund · Jul 31, 2026 BNY Mellon ETF Trust, not summed	656	0.00%	+27	Jul 31, 2026	BNY Mellon ETF Trust, not summed
42	Sycale Advisors (NY) LLC 13F CIK 1811522 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	83,053	0.23%	-17,426	Jun 30, 2026	carried, not yet filed for the newest quarter
43	VANGUARD DIVIDEND APPRECIATION INDEX FUND Fund S000011322 · Registered fund · Jul 31, 2026 VANGUARD SPECIALIZED FUNDS, not summed	78,760	0.22%	+531	Jul 31, 2026	VANGUARD SPECIALIZED FUNDS, not summed
44	UBS Group AG 13F CIK 1610520 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	78,707	0.22%	-3,826	Jun 30, 2026	carried, not yet filed for the newest quarter
45	VICTORY CAPITAL MANAGEMENT INC 13F CIK 1040188 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	74,729	0.21%	+65,341	Jun 30, 2026	carried, not yet filed for the newest quarter
45.1	VictoryShares US Small Mid Cap Value Momentum ETF Fund S000065161 · Registered fund · Jun 30, 2026 Victory Portfolios II, not summed	63,164	0.18%	—	Jun 30, 2026	Victory Portfolios II, not summed
45.2	Victory Extended Market Index Fund Fund S000012941 · Registered fund · Jul 31, 2026 Victory Portfolios III, not summed	1,985	0.01%	+129	Jul 31, 2026	Victory Portfolios III, not summed
46	Qube Research & Technologies Ltd 13F CIK 1729829 · Exempt reporting adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	72,614	0.20%	-36,136	Jun 30, 2026	carried, not yet filed for the newest quarter
47	AQR CAPITAL MANAGEMENT LLC 13F CIK 1167557 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	70,127	0.20%	+2,735	Jun 30, 2026	carried, not yet filed for the newest quarter
47.1	AQR Small Cap Momentum Style Fund Fund S000025644 · Registered fund · Mar 31, 2026 AQR Funds, not summed	1,693	0.00%	—	Mar 31, 2026	AQR Funds, not summed
47.2	AQR Small Cap Multi-Style Fund Fund S000040064 · Registered fund · Jun 30, 2026 AQR Funds, not summed	1,414	0.00%	—	Jun 30, 2026	AQR Funds, not summed
48	GOLDMAN SACHS GROUP INC 13F CIK 886982 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	68,715	0.19%	+19,794	Jun 30, 2026	carried, not yet filed for the newest quarter
48.1	Goldman Sachs ActiveBeta(R) U.S. Small Cap Equity ETF Fund S000048296 · Registered fund · May 31, 2026 Goldman Sachs ETF Trust, not summed	1,582	0.00%	-598	May 31, 2026	Goldman Sachs ETF Trust, not summed
48.2	Goldman Sachs Absolute Return Tracker Fund Fund S000020314 · Registered fund · Jun 30, 2026 GOLDMAN SACHS TRUST, not summed	1,135	0.00%	-768	Jun 30, 2026	GOLDMAN SACHS TRUST, not summed
49	VANGUARD RUSSELL 2000 INDEX FUND Fund S000030003 · Registered fund · May 31, 2026 VANGUARD SCOTTSDALE FUNDS, not summed	66,284	0.19%	+10,821	May 31, 2026	VANGUARD SCOTTSDALE FUNDS, not summed
50	LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE 13F CIK 1013701 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	66,047	0.18%	-420	Jun 30, 2026	carried, not yet filed for the newest quarter
50.1	LK Balanced Fund Fund S000037522 · Registered fund · Jun 30, 2026 Managed Portfolio Series, not summed	4,000	0.01%	0	Jun 30, 2026	Managed Portfolio Series, not summed

25 more nested rows are not shown here; Every filing lists them all.

Shares are restated onto today's split basis. Change compares each row with the same holder's previous filing in the same source; a dash means there is none to compare. Nested 13D/G, insider and fund rows are not summed, since a 13F report already holds them.

Showing 1–50 of 332 holders

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Key facts CIK 1258602 CUSIP 64031N108 13F (30d) 24 filings 24 filers Visit website Investor relations