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.
Nelnet, Inc. filings document operating results, subsidiary banking disclosures, governance matters, and financing arrangements for a company active in loan servicing, loan asset management, education technology, payment services, and Nelnet Bank. Its 8-K reports furnish quarterly earnings materials, Regulation FD disclosures for Nelnet Bank Call Reports, material agreements, and board-level changes.
Proxy materials describe director elections, executive compensation, equity awards, shareholder voting matters, and board governance. Financing disclosures include credit agreements, subsidiary guarantees, borrowing covenants, recourse indebtedness limits, and asset quality tests tied to non-FFELP loans held by the company and its consolidated subsidiaries.
Nelnet, Inc. Schedule 13G reports that Magnolia Capital Fund, LP and related parties beneficially hold 1,493,149 shares of Class A common stock and that Adam K. Peterson is shown with 1,502,703 shares, each representing 5.9% of the class. The filing states that The Magnolia Group, LLC is the general partner of Magnolia Capital Fund and that Mr. Peterson is the managing member; TMG and Mr. Peterson disclaim beneficial ownership while the filing is jointly submitted. The document includes a Joint Filing Agreement dated 06/05/2026.
NELNET INC filed an initial ownership report for Joseph Ernest Popevis, President of NDS, showing his existing equity stake rather than any new trade. He directly holds 25,986 shares of Class A Common Stock. This includes 7,154 restricted shares granted under the company’s Restricted Stock Plan, which vest in stages through March 10, 2031.
Nelnet, Inc. reported the results of its 2026 annual shareholder meeting held on May 14, 2026. Shareholders elected three Class III directors — Kathleen A. Farrell, David S. Graff, and Thomas E. Henning — to serve until the 2029 annual meeting.
Shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 125,269,425 votes in favor. They also approved amendments to the Directors Stock Compensation Plan to include directors of Nelnet Bank Inc. and its successors, and supported, on an advisory basis, the compensation of the company’s named executive officers as disclosed in the proxy statement.
Whitetail Rock Capital Management, LLC reports beneficial ownership of 6,881,976 shares of Nelnet, Inc. Class A common stock, representing 21.6% of the class. The filing states shared voting and dispositive power over 402,205 Class A shares and 6,479,771 Class B shares (convertible into Class A).
The shares are held through multiple grantor retained annuity trusts and related trusts (the "Trusts") and indirectly through Union Financial Services, Inc., which holds 1,586,691 Class B shares. Ownership is reported under Rule 13d-3 and the reporting person is an investment adviser serving the Trusts.
Nelnet, Inc. reported net income attributable to shareholders of $71.1 million for the quarter ended March 31, 2026, down from $82.6 million a year earlier, or $1.97 per diluted share versus $2.26. Net interest income rose to $101.6 million, but the provision for loan losses increased sharply to $53.2 million from $15.3 million, largely tied to growth in consumer and Pay Later receivables. Fee-based revenue remained a major driver, with loan servicing and systems revenue of $127.8 million and education technology services and payments revenue of $154.4 million. The company acquired Canadian servicer NDS Canada for about $105.8 million, adding $69.1 million of intangible assets and $47.0 million of goodwill. Nelnet Bank continued to expand, with deposits of $1.74 billion and loans of $1.26 billion. Management highlighted non-GAAP net income excluding derivative market value adjustments of $69.9 million, or $1.94 per share, versus $87.4 million, or $2.39, in the prior-year quarter.
Nelnet, Inc. reported first quarter 2026 GAAP net income of $71.1 million, or $1.97 per share, compared with $82.6 million, or $2.26 per share, a year earlier. Net income excluding derivative market value adjustments was $69.9 million, or $1.94 per share, versus $87.4 million, or $2.39 per share, in 2025.
The Asset Generation and Management segment generated $67.5 million of loan and investment net interest income and closed the quarter with $766.2 million of Pay Later receivables after acquiring $3.34 billion of loans. Nelnet Bank earned $7.1 million of net income after tax on growing loan and deposit balances.
Loan Servicing and Systems revenue rose to $127.8 million, aided by the NDS Canada acquisition, while Education Technology Services and Payments revenue reached $154.4 million with net income of $36.3 million. The board declared a $0.33 per share second-quarter cash dividend, payable June 15, 2026 to shareholders of record on June 1, 2026.
Nelnet Inc.'s Chief Financial Officer, James D. Kruger, reported updated holdings and a non-market gift of Class A Common Stock. The filing shows a bona fide gift of 5,000 shares on April 30, 2026, transferred indirectly through a trust for the benefit of his adult son.
After these updates, Kruger reports 69,569 shares held directly and additional indirect holdings through his spouse, revocable trusts, GRATs, and family trusts. The footnotes state he continues to report beneficial ownership of certain trust-held shares while disclaiming beneficial ownership beyond his pecuniary interest.
Nelnet, Inc. reported that its wholly owned subsidiary, Nelnet Bank, filed its quarterly Consolidated Reports of Condition and Income (FFIEC 051 Call Report) for the quarter ended March 31, 2026 with the FDIC. Public portions of this banking regulatory report are available on the FDIC’s website. The disclosure is furnished under Regulation FD and is expressly not deemed filed for liability purposes under the Exchange Act or incorporated into other securities filings unless specifically referenced.
Nelnet Inc. insider reporting shows that entities associated with Adam K. Peterson hold a significant position in the company’s Class A Common Stock, with no new buy or sell transaction reported. The Form 4 is filed as an “Exit” filing linked to his board resignation.
The filing notes that 1,668,976 shares of Class A Common Stock are directly owned by Magnolia Capital Fund, LP, whose general partner and investment manager is The Magnolia Group, LLC, managed by Mr. Peterson. Through these roles, The Magnolia Group and Mr. Peterson may be deemed to share indirect beneficial ownership of those shares.
In addition, Adam Peterson directly holds 9,544 shares of Class A Common Stock for his own account, bringing his reported total direct and indirect holdings to 1,678,520 shares following the reported position. The footnote explains that March 23, 2026 is used as the transaction date because on that day Mr. Peterson notified Nelnet of his immediate resignation from the Board of Directors, and this Form 4 is voluntarily filed to confirm he is no longer subject to Section 16 reporting.
NELNET INC executive William J. Munn, the Secretary, Chief Legal Officer, and General Counsel, reported gifting a total of 2,104 shares of Class A Common Stock on April 15, 2026. One gift of 1,052 shares reduced his direct holdings to 6,872 shares, while another 1,052-share gift involved his indirect holdings.
The indirect transaction relates to a living trust described as having Munn and his spouse as trustees and beneficiaries, which now holds 12,155 shares. Both transactions are reported as bona fide gifts at a price of $0.00 per share, meaning they were not market sales and did not generate cash proceeds.