Welcome to our dedicated page for Nelnet SEC filings (Ticker: NNI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
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Angela L. Muhleisen, a director of Nelnet, Inc. (NNI), filed a Form 4 reporting a transaction on 08/18/2025. The filing shows a disposition of 11,699 shares of Class A common stock on that date, recorded with transaction code "G" and a reported price of $0. After the reported transaction, Ms. Muhleisen is shown as beneficially owning 2,191,180 shares directly. The filing also lists numerous indirect holdings in Class A common stock held through multiple GRATs and Dynasty Trusts, with specific share counts disclosed for each trust. The Form 4 is signed by Audra Hoffschneider as attorney-in-fact for Ms. Muhleisen on 08/20/2025.
Q2 2025 highlights: Nelnet (NNI) reported net income of $181.5 m (EPS $4.97) versus $45.1 m (EPS $1.23) in Q2 2024. Six-month profit rose to $264.0 m (EPS $7.24). Results were propelled by a $175 m one-time gain from partial redemption of the ALLO Communications investment.
Revenue mix: Total interest income fell 13 % YoY to $212.3 m as loan yields declined, yet net interest income improved 19 % to $79.4 m on lower funding costs. Fee-based lines performed well: loan-servicing revenue grew 11 % to $120.7 m and EdTech & payments revenue ticked up to $118.2 m. Non-interest income surged 73 % to $461.2 m on the ALLO gain and reinsurance expansion.
Expenses: Operating expenses edged up 2 % to $219.3 m. Provision for loan losses jumped to $17.9 m (vs. $3.6 m) reflecting credit normalization; impairment and hedge losses added $13.4 m.
Balance sheet: Assets were $13.71 bn (-0.5 % YTD). Bonds & notes payable declined $406 m to $7.90 bn, pushing liability totals down 2 %. Cash & equivalents increased 16 % to $225.8 m. Shareholders’ equity climbed 6.7 % to $3.58 bn, lifting book value to roughly $98 per diluted share.
Key watch-items: sustainability of fee growth, elevated credit provisioning (allowance $125 m) and limited recurring impact from the ALLO gain. No forward guidance was included in the excerpt.
Report: Nelnet, Inc. filed an 8-K on August 6, 2025 announcing a press release reporting results for the quarter ended June 30, 2025.
Key items furnished:
- Exhibit 99.1: Press Release dated August 6, 2025 - "Nelnet Reports Second Quarter 2025 Results"
- Exhibit 99.2: Supplemental Financial Information for the quarter ended June 30, 2025 (also made available on the Company website)
- Exhibit 104: Cover Page Interactive Data File (Inline XBRL)
The filing states the exhibits are "furnished" and are not "deemed filed" under Section 18 of the Exchange Act and that website content is not incorporated by reference. The filing includes a forward-looking statements disclaimer and directs readers to risk factors in the Companys Annual Report (filed February 27, 2025) and its Quarterly Report for the three months ended June 30, 2025 (filed August 6, 2025). The report is signed by CFO James D. Kruger.
Nelnet, Inc. (NNI) – Form 4 filed 30-Jul-2025
Executive Chairman and 10% owner Michael S. Dunlap reports indirect beneficial ownership of ≈5.21 million Class B shares and 136 Class A shares across multiple entities as of the 28-Jul-2025 transaction date. The holdings are spread among Union Financial Services, Inc. (1.59 M shares), five 2015 Grantor Retained Annuity Trusts, two 2011 Post-Annuity Irrevocable Trusts, six 2015 Post-Annuity Irrevocable Trusts, three 2023 Post-Annuity Irrevocable Trusts, and six Dynasty Trusts established in 2011-2019. Dunlap disclaims beneficial ownership except to the extent of his pecuniary interest in each vehicle.
This filing is the second of two Form 4s submitted the same day to report the 28-Jul-2025 transfers; the first filing contained the initial line items, while this document lists additional positions that exceeded the SEC table-row limit. No derivative securities are reported, and the form provides no transaction codes, prices, or share counts acquired/disposed, indicating that this portion of the disclosure is limited to post-transfer ownership totals.
Because the filing records ownership rather than open-market activity, it does not directly signal buying or selling pressure for NNI shares, but it confirms that Dunlap continues to control a significant equity stake—largely through estate-planning structures.