According to recent filings covering the 90 days ending December 20, 2025, the three most significant insider holders at Nelnet are Executive Chairman Of Board Michael S Dunlap (1.54Mn shares), President And Nfs Matthew W Dunlap (226.20K shares), TenPercentOwner Shelby J Butterfield (137.15K shares).
| Holder | Position | Shares | Report Date |
|---|---|---|---|
| Angie Muhleisen | 2,263,663 | 20 Aug, 2025 | |
| Adam K Peterson | 1,676,487 | 10 Jun, 2025 | |
| Michael S Dunlap | Executive Chairman Of Board | 1,536,862 | 21 Nov, 2025 |
| Matthew W Dunlap | President And Nfs | 226,197 | 03 Dec, 2025 |
| Shelby J Butterfield | 137,151 | 12 Mar, 2021 | |
| Jeffrey R Noordhoek | Chief Executive Officer | 104,467 | 12 Mar, 2025 |
| Timothy Tewes | President | 83,074 | 12 Mar, 2025 |
| James P Abel | 74,026 | 17 Mar, 2022 | |
| James D Kruger | Chief Financial Officer | 61,060 | 12 Mar, 2025 |
| David S Graff | 30,325 | 18 Jun, 2025 | |
| Terry J Heimes | Chief Operating Officer | 29,235 | 12 Mar, 2025 |
| Deeann Wenger | Pres And Nelnet Business Services | 26,375 | 12 Mar, 2025 |
| Kathleen Anne Farrell | 20,944 | 18 Jun, 2025 | |
| Preeta D Bansal | 18,617 | 18 Jun, 2025 | |
| William J Munn | Secy/Chief Legal Off/Gen Coun | 14,623 | 11 Apr, 2025 |
| Thomas Edward Henning | 11,058 | 08 Sep, 2025 | |
| Joann M Martin | 6,132 | 22 Jun, 2021 | |
| Emily Olinger | Chief People Services Officer | 4,473 | 12 Mar, 2025 |
| Deun Jona M Van | 704 | 11 Dec, 2025 |
* Please note that the shares above only reflect shares from the fund portfolio and the institutional portfolio. Shares from the personal portfolio are excluded from this Institutional Ownership Page. See these insiders' latest transactions here on Insider Page.
| Transaction Date | Insider Name | Security Class | Transaction Type | Shares Traded | Price | Shares Remaining | Ownership | Code |
|---|---|---|---|---|---|---|---|---|
| 09 Dec, 2025 | Deun Jona M Van | Class A Common Stock | D | 400 | $128.95 | 704 | D | S |
| 01 Dec, 2025 | Matthew W Dunlap | Class B Common Stock | A | 63,126 | $0.00 | 226,197 | D | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | D | 302,040 | $0.00 | 0 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 67,120 | $0.00 | 113,449 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 100,680 | $0.00 | 168,119 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 100,680 | $0.00 | 168,119 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | D | 266,092 | $0.00 | 0 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 59,132 | $0.00 | 103,905 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 88,697 | $0.00 | 153,880 | I | G |
| 01 Dec, 2025 | Michael S Dunlap | Class B Common Stock | A | 88,697 | $0.00 | 153,880 | I | G |
| 19 Nov, 2025 | Michael S Dunlap | Class A Common Stock | D | 35,000 | $0.00 | 1,382,982 | D | G |
| 05 Sep, 2025 | Thomas Edward Henning | - | - | 11,058 | D | |||
| 05 Sep, 2025 | Thomas Edward Henning | Class A Common Stock | D | 5,094 | $128.87 | 11,058 | D | S |
| 05 Sep, 2025 | Thomas Edward Henning | - | - | 0 | I | |||
| 05 Sep, 2025 | Thomas Edward Henning | Class A Common Stock | D | 3,102 | $128.87 | 0 | I | S |
| 25 Aug, 2025 | Shelby J Butterfield | - | - | 178,953 | I | |||
| 25 Aug, 2025 | Shelby J Butterfield | Class B Common Stock | D | 41,929 | - | 178,953 | I | C |
| 25 Aug, 2025 | Shelby J Butterfield | - | - | 42,439 | I | |||
| 25 Aug, 2025 | Shelby J Butterfield | Class A Common Stock | A | 41,929 | - | 42,439 | I | C |
| 25 Aug, 2025 | Shelby J Butterfield | Class A Common Stock | D | 41,929 | $119.25 | 510 | I | S |