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 (NNI): Michael S. Dunlap filed Amendment No. 18 to Schedule 13D updating beneficial ownership. He may be deemed to beneficially own 13,387,235 shares of Class A common stock on an as-converted basis, representing 37.8% of the Class A outstanding. He has sole voting and dispositive power over 2,538,385 shares and shared voting and dispositive power over 10,848,850 shares.
Union Financial Services, Inc. is deemed to beneficially own 1,586,691 shares of Class A on an as-converted basis (5.9%). Dunlap Holdings, LLC is deemed to beneficially own 1,600,000 shares of Class A on an as-converted basis (5.9%). The filing notes changes primarily reflect trust-related distributions, transfers, and conversions, while UFS and Dunlap Holdings report no acquisitions or dispositions since the prior amendment. Class B shares are convertible into Class A and carry ten votes per share.
Nelnet, Inc. received an amended Schedule 13G/A (Amendment No. 21) from Angela L. Muhleisen, reporting beneficial ownership tied to the company’s equity as of 09/30/2025.
Muhleisen reports beneficial ownership of 4,683,900 shares, representing 18.1% of the class. This includes 2,191,180 shares with sole voting and dispositive power and 2,492,720 shares with shared voting and dispositive power. The shared amount reflects holdings across various trusts and accounts, and includes 582,972 shares of Class B common stock that are convertible into the same number of Class A shares at any time. Each Class A share has one vote and each Class B share has ten votes.
The filing details multiple trusts and accounts at Union Bank and Trust Company and notes that certain large accounts of adult children effective November 10, 2025 are not included in shared power. The reporting person disclaims beneficial ownership beyond actual voting or investment power.
Union Bank & Trust Company/Trustee filed an amended Schedule 13G reporting beneficial ownership in Nelnet, Inc. (NNI). The filing lists an aggregate 2,047,228 shares beneficially owned, representing 7.9% of the class as of the reported event. The holder has sole voting and dispositive power over 30,000 shares and shared voting and dispositive power over 2,017,228 shares.
The shared amount includes 1,434,256 shares of Class A and 582,972 shares of Class B stock, with Class B convertible into the same number of Class A shares; Class A carries one vote per share and Class B carries ten votes. The totals reflect that, effective November 10, 2025, the reporting person no longer has shared power over certain individual accounts holding 1,777,897 Class A shares. The reporting person disclaims beneficial ownership except to the extent of actual or shared power.
Nelnet, Inc. (NNI) filed its Q3 2025 10‑Q, reporting stronger results for the three months ended September 30, 2025. Net income attributable to Nelnet was $106.7 million versus $2.4 million a year ago, and basic and diluted EPS were $2.94 versus $0.07.
Net interest income was $85.3 million (up from $72.2 million), helped by a negative provision for loan losses of $3.6 million. Diversified fee businesses continued to scale: loan servicing and systems revenue $151.1 million, and education technology services and payments revenue $129.3 million. Other income totaled $342.5 million, reflecting contributions from services, reinsurance premiums, and investment‑related items.
The balance sheet remained sizable with total assets $13.88 billion and total liabilities $10.29 billion. Bonds and notes payable were $7.82 billion. Cash and cash equivalents were $216.4 million. As of October 31, 2025, shares outstanding were 25,316,448 Class A and 10,616,675 Class B (excluding 11,305,731 Class A held by subsidiaries).
Nelnet, Inc. (NNI) furnished its third‑quarter 2025 results materials. On November 6, 2025, the company furnished a press release and supplemental financial information for the quarter ended September 30, 2025 as Exhibits 99.1 and 99.2 to an Item 2.02 Form 8‑K. The materials are provided for information only and are not deemed filed under the Exchange Act, nor incorporated by reference unless specifically stated. The company notes that forward‑looking statements are subject to risks and uncertainties described in its Form 10‑K for the year ended December 31, 2024 and Form 10‑Q for the quarter ended September 30, 2025.
Nelnet, Inc. (NNI) reported that its wholly owned subsidiary, Nelnet Bank, filed its FFIEC 051 Call Report for the quarter ended September 30, 2025 with the FDIC. Publicly available portions can be accessed on the FDIC website. The disclosure is furnished under Regulation FD and is not deemed filed under Section 18 of the Exchange Act, nor incorporated by reference, unless specifically referenced in a future filing.
Nelnet, Inc. announced a definitive agreement for its wholly owned subsidiary Nelnet Canada, Inc. to acquire Finastra’s Canadian student loan servicing business for CAD $130 million (approximately USD $93 million) in cash. The deal is expected to close in the first calendar quarter of 2026, subject to customary closing conditions.
The seller is DH Corporation, a wholly owned subsidiary of Finastra Holdings Limited. The company furnished a press release as Exhibit 99.1. This transaction expands Nelnet’s presence in student loan servicing, adding Canadian operations under its platform once the acquisition closes.
Nelnet, Inc. (NNI) insider trading disclosure: Thomas E. Henning, a company director, reported two stock sale transactions executed on 09/05/2025 under Rule 10b5-1 trading plans. The filings show a sale of 5,094 shares of Class A common stock at $128.87 per share and a separate sale of 3,102 shares at the same price. After the transactions, Henning is listed as beneficially owning 11,058 shares directly; the spouse’s plan disposed of shares leaving 0 indirect shares. The form was signed by an attorney-in-fact on 09/08/2025 and cites a power of attorney exhibit.
Nelnet, Inc. (NNI) filed a Rule 144 notice reporting a proposed sale of 8,196 common shares through Fidelity Brokerage Services on the NYSE, with an aggregate market value of $1,056,218.52. The filing lists the approximate sale date as 09/05/2025 and shows 25,515,182 shares outstanding, meaning the proposed sale represents roughly 0.032% of outstanding common shares.
The shares were acquired in the issuer's IPO on 02/13/2004 and no securities of the issuer were reported sold by this person in the past three months. The notice includes the standard Rule 144 representation that the seller does not possess undisclosed material adverse information and identifies Fidelity Brokerage Services LLC as the executing broker.
Shelby J. Butterfield reported transactions in Nelnet, Inc. (NNI) on 08/25/2025 showing conversions, a sale and repurchase activity tied to the issuer's buyback program. A trust converted 41,929 shares of Class B common stock into an equal number of Class A shares; that conversion was exempt under Rule 16a-6(b). The filer also reports a privately negotiated issuer repurchase in which 41,929 Class A shares were sold to the issuer at $119.25 per share based on a discount to the closing price on August 21, 2025.
The Form 4 lists beneficial ownership aggregates across multiple trusts and entities, including 178,953 Class B shares reported following the transactions and various indirect holdings through marital trusts, GRATs, a family LLC and corporate holdings. The filing is signed by an attorney-in-fact on behalf of the reporting person.