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Nelnet, Inc. (NNI)

USD132.11 +0.24 (+0.18%)
US NYSE Financial Services Financial - Credit Services
Address 121 South 13th Street 68508
Lincoln, NE, US
CEO Jeffrey R. Noordhoek
IPO 2003-12-12
CIK 1258602 ISIN US64031N1081

Explore sections of this company profile

Description

Nelnet, Inc. operates globally, encompassing a variety of businesses including loan management, telecommunications, educational technology, related services, and payment processing solutions. Its Loan Servicing and Systems division offers comprehensive support for loan operations. This includes converting and processing loan applications, managing borrower data, providing customer service, handling payments, executing due diligence, reconciling funds, and processing claims. The segment also develops specialized software for student loan servicing and delivers business process outsourcing, with a focus on contact center management through inbound calls, outreach campaigns, sales, and multi-channel customer engagement. The Education Technology, Services, and Payment Processing segment provides an extensive array of solutions. These span financial management services, school information system software, website design, and cost-effective admissions software. It also operates FACTS Giving, a dedicated donation platform, alongside tailored professional development, coaching, and educational instruction services, as well as technological tools for teacher and student assessments. This segment facilitates tuition payment plans and offers end-to-end technology and services for student billing, payments, and refunds. Furthermore, it supports on-campus payment options (in-person, online, mobile) and general payment processing via credit card and electronic transfers. Additional offerings include services and technologies for faith community engagement, giving management, and learning management. A core offering is an integrated commerce payment platform, combined with financial management and tuition payment plan services, alongside a robust K-12 school management platform that handles administrative, informational, financial, and communication functions. The Communications unit supplies fiber optic services for internet, television, and telephone to both residential and business clients. Through its Asset Generation and Management segment, Nelnet is engaged in the acquisition, oversight, and ownership of various loan assets. Finally, the Nelnet Bank segment manages and operates internet-based industrial banks. Nelnet, Inc. was established in 1978 and is headquartered in Lincoln, Nebraska.

News Sentiment (7d)
65 Positive

Based on only 2 articles — low confidence

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD132.11 +0.24 (+0.18%)
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Volume Profile
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Liquidity & share structure
Average Volume
143.2K
Beta
0.78
Float Shares
22.77M
Free Float %
63.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.26% -7.58% -8.27% -5.73% -6.30% -8.09% +5.09% +29.66% +64.09% +236.64% +460.55%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
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Annual Monthly Returns
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Daily Returns Distribution
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

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By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (3 ratings, all time) Hold
Price Targets & DCF
Current price
132.11
DCF (Unlevered) 376.45 +185.0%
DCF (Levered) 451.77 +242.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 0% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 0 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
1.07
Distress
Piotroski F-Score
7 / 9
Strong
MOAT Score
6 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
4 / 5
High
ROA Score
5 / 5
High
D/E Score
1 / 5
Low
P/E Score
3 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Financial - Credit Services: +13.2%
    +22.6% Q1'26: +12.7% (vs Q1'25)
  • EPS growth Financial - Credit Services: +24.0%
    +130.7% Q1'26: -12.8% (vs Q1'25)
  • FCF margin FCF growth · Financial - Credit Services: +70.9%
    +22.8% Q1'26: +11.7% (vs Q1'25)
  • EBIT margin Financial - Credit Services: +28.7%
    +45.2% Q1'26: +35.3% (vs Q1'25)
  • ROIC Financial - Credit Services: +5.0%
    +7.5% Q1'26: +4.9% (vs Q1'25)
  • Share dilution Financial - Credit Services: +0.0%
    -0.9% Q1'26: -1.1% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Financial - Credit Services: 4.07×
    7.37× Q1'26: 9.90× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.83) × ERP
WACC = 40% × Ke + 60% × Kd (6.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 374.01 Current price: 132.11
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2005
actual
Dec 2006
actual
Dec 2007
actual
Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Revenue
1.13B
est: 673.37M (+68.3%)
1.75B
est: 1.41B (+24.2%)
2.02B
est: 1.83B (+10.8%)
892.44M
est: 869.97M (+2.6%)
919.76M
est: 785.38M (+17.1%)
1.06B
est: 968.04M (+9.0%)
1.11B
est: 1.11B (-0.1%)
1.11B
est: 880.96M (+26.1%)
1.19B
est: 788.40M (+51.4%)
1.18B
est: 762.00M (+54.6%)
1.68B
est: 1.07B (+56.7%)
1.68B
est: 1.15B (+45.5%)
1.37B
est: 1.38B (-0.3%)
1.42B
est: 1.27B (+11.2%)
1.82B
est: 1.56B (+16.5%)
1.81B
est: 1.30B (+39.9%)
1.85B
est: 1.36B (+36.3%)
2.26B
est: 1.50B (+51.0%)
1.69B
1.69B – 1.69B
+12.7% YoY
1.79B
1.79B – 1.79B
+6.1% YoY
EBITDA
384.37M
est: 216.42M (+77.6%)
269.58M
est: 453.14M (-40.5%)
318.53M
est: 1.57B (-79.7%)
425.26M
est: 554.76M (-23.3%)
391.29M
est: 583.71M (-33.0%)
545.02M
est: 678.01M (-19.6%)
577.49M
est: 816.08M (-29.2%)
544.38M
est: 870.24M (-37.4%)
521.36M
est: 253.40M (+105.8%)
364.51M
est: 244.91M (+48.8%)
470.98M
est: 991.91M (-52.5%)
369.41M
est: 1.06B (-65.1%)
648.96M
est: 1.14B (-42.9%)
634.43M
est: 409.63M (+54.9%)
678.09M
est: 932.74M (-27.3%)
214.11M
est: 1.03B (-79.1%)
361.11M
est: 433.92M (-16.8%)
1.06B
est: 480.07M (+120.1%)
541.10M
541.10M – 541.10M
+12.7% YoY
574.34M
574.34M – 574.34M
+6.1% YoY
EBIT
279.26M
est: 169.72M (+64.5%)
102.40M
est: 119.76M (-14.5%)
57.15M
est: 38.68M (+47.7%)
321.79M
est: 202.94M (+58.6%)
274.51M
est: 186.55M (+47.1%)
465.53M
est: 405.36M (+14.8%)
469.52M
est: 317.22M (+48.0%)
420.64M
est: 432.21M (-2.7%)
398.81M
est: 386.57M (+3.2%)
226.68M
est: 224.20M (+1.1%)
286.29M
est: 240.17M (+19.2%)
176.75M
est: 258.32M (-31.6%)
450.49M
est: 308.50M (+46.0%)
502.11M
est: 285.54M (+75.8%)
501.85M
est: 349.28M (+43.7%)
68.72M
est: 290.59M (-76.4%)
228.58M
est: 337.15M (-32.2%)
1.02B
est: 373.01M (+174.3%)
420.43M
420.43M – 420.43M
+12.7% YoY
446.26M
446.26M – 446.26M
+6.1% YoY
Net Income
178.07M
est: 181.81M (-2.1%)
65.92M
est: 76.65M (-14.0%)
32.85M
est: 30.92M (+6.2%)
204.34M
est: 181.34M (+12.7%)
178.00M
est: 157.98M (+12.7%)
302.67M
est: 263.58M (+14.8%)
307.61M
est: 295.73M (+4.0%)
267.98M
est: 275.32M (-2.7%)
256.75M
est: 248.94M (+3.1%)
173.17M
est: 166.56M (+4.0%)
227.91M
est: 196.65M (+15.9%)
141.80M
est: 140.34M (+1.0%)
352.44M
est: 236.53M (+49.0%)
393.29M
est: 334.64M (+17.5%)
406.90M
est: 408.38M (-0.4%)
89.83M
est: 449.22M (-80.0%)
184.05M
est: 164.21M (+12.1%)
428.47M
est: 252.27M (+69.8%)
312.43M
312.43M – 312.43M
+23.8% YoY
356.02M
356.02M – 356.02M
+14.0% YoY
SGA
156.61M
est: 188.86M (-17.1%)
253.87M
est: 312.00M (-18.6%)
254.02M
est: 263.34M (-3.5%)
177.95M
est: 169.47M (+5.0%)
192.83M
est: 185.05M (+4.2%)
196.17M
est: 173.35M (+13.2%)
228.08M
est: 218.95M (+4.2%)
247.91M
est: 255.29M (-2.9%)
255.92M
est: 254.01M (+0.8%)
301.89M
est: 290.26M (+4.0%)
436.18M
est: 378.59M (+15.2%)
463.50M
est: 466.19M (-0.6%)
501.83M
est: 817.97M (-38.6%)
507.13M
est: 439.83M (+15.3%)
589.73M
est: 561.98M (+4.9%)
608.32M
est: 618.18M (-1.6%)
632.18M
est: 368.53M (+71.5%)
est: 407.72M (-100.0%)
459.56M
459.56M – 459.56M
+12.7% YoY
487.79M
487.79M – 487.79M
+6.1% YoY
EPS
3.37
est: 2.40 (+40.4%)
1.27
est: 2.31 (-45.0%)
0.66
est: 1.43 (-53.8%)
4.24
est: 3.87 (+9.6%)
3.76
est: 3.93 (-4.3%)
6.50
est: 4.65 (+39.8%)
6.62
est: 5.64 (+17.4%)
5.89
est: 5.41 (+8.9%)
6.02
est: 4.94 (+21.8%)
4.14
est: 3.99 (+3.9%)
5.64
est: 5.00 (+12.8%)
3.54
est: 5.13 (-30.9%)
9.02
est: 8.70 (+3.7%)
10.20
est: 9.13 (+11.7%)
10.63
est: 6.74 (+57.8%)
2.39
est: 4.36 (-45.2%)
5.02
est: 4.52 (+11.1%)
11.58
est: 6.94 (+66.8%)
8.60
8.60 – 8.60
+23.8% YoY
9.80
9.80 – 9.80
+14.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-07 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-05-06 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-05-05 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-05-04 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-05-01 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-04-30 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-04-29 B+ 3/5 3/5 4/5 5/5 1/5 3/5 2/5
2026-04-28 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-27 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-24 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-23 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-22 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-21 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-20 B+ 3/5 4/5 4/5 5/5 1/5 3/5 2/5
2026-04-17 A- 4/5 4/5 4/5 5/5 1/5 3/5 3/5
2026-04-16 A- 4/5 4/5 4/5 5/5 1/5 3/5 3/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
311.70M
OE per share TTM
8.56
Owner's Yield
6.11%
Maintenance CapEx ratio
29.97%
Maint CapEx / Avg PPE
8.4%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
56
Total invested
437.84M
Insider transactions (90d)
1
Beneficial owners (>5%)
19
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 BARCLAYS GLOBAL INVESTORS, NA. 29.98M 4.09% 53.5K 2.03M 53.5K BK Pennsylvania 2011-02-10
2 Muhleisen, Angie 20.15M 48.10% 838.8K 19.31M 838.8K 19.31M IN United States 2006-02-14
3 Muhleisen, Angela L. 9.18M 22.80% 2.61M 6.57M 2.61M IN United States 2011-02-15
4 Union Bank and Trust Company/Trustee 47-0321480 5.91M 14.70% 30.0K 5.88M 30.0K CO Nebraska 2011-02-14
5 Butterfield, Stephen F. 3.95M 9.20% 2.04M 1.91M 2.04M HC, IN United States 2011-02-14
6 Shelby J. Butterfield 3.77M 11.40% 70.6K 3.70M 70.6K 3.70M IN United States 2020-04-08
7 (. 2.46M 8.42% 2.41M 2.46M IA Delaware 2019-02-08
8 30-0447847 2.08M 7.60% 2.05M 2.08M IA Delaware Limited Partnership 2022-02-08
9 Cedar Hill Capital Partners, LLC 1.90M 5.00% 1.90M OO Delaware 2008-01-07
10 Charles Cascarilla 1.90M 5.00% 1.90M HC, IN United States 2008-01-07
11 Emil Woods 1.90M 5.00% 1.90M HC, IN United States 2008-01-07
12 Adam K. Peterson 1.90M 7.01% 1.90M 1.90M IN UNITED STATES OF AMERICA 2022-03-21
13 Magnolia Capital Fund, LP 1.90M 7.01% 1.90M 1.90M PN STATE OF DELAWARE, UNITED STATES OF AMERICA 2022-03-21
14 The Magnolia Group, LLC 1.90M 7.01% 1.90M 1.90M IA STATE OF OMAHA, UNITED STATES OF AMERICA 2022-03-21
15 S 1.90M 6.89% 1.90M IN Delaware 2021-11-17
16 The Vanguard Group - 23-1945930 1.73M 6.28% 16.7K 1.70M 31.6K IA Pennsylvania For 2022-02-10
17 Cedar Hill Capital Partners Offshore, Ltd. 979.1K 2.60% 979.1K CO Cayman Islands 2008-01-07
18 Cedar Hill Capital Partners Onshore, LP 923.9K 2.40% 923.9K PN Delaware 2008-01-07
19 Cedar Hill Fund Management, LLC 923.9K 2.40% 923.9K OO Delaware 2008-01-07

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
56
-163 vs prev Q
New positions
7
Closed positions
170
Increased
24
Reduced
13
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 DIMENSIONAL FUND ADVISORS LP 1.85M -37.7K (-2.0%) 245.84M +9.3M (+3.9%) 5.09% -0.080 pp 0.05% +0.001 pp USD40.89 +225.2% 51 qtrs
2 MAGNOLIA GROUP, LLC 1.67M +— (+0.0%) 221.91M +12.7M (+6.0%) 4.60% +0.021 pp 36.59% +3.413 pp USD57.09 +132.9% 34 qtrs
3 VANGUARD GROUP INC 1.32M -228.5K (-14.8%) 175.18M -18.7M (-9.6%) 3.63% -0.609 pp 0.00% 0.000 pp USD75.41 +76.3% 84 qtrs
4 FARMERS & MERCHANTS INVESTMENTS INC 1.18M +1.0K (+0.1%) 157.47M +9.1M (+6.1%) 3.26% +0.018 pp 4.35% +0.145 pp USD44.29 +200.2% 72 qtrs
5 BLACKROCK, INC. 925.1K -74.6K (-7.5%) 123.00M -2.3M (-1.9%) 2.55% -0.193 pp 0.00% 0.000 pp USD113.28 +17.4% 6 qtrs
6 GEODE CAPITAL MANAGEMENT, LLC 314.8K -22.6K (-6.7%) 41.87M -444.4K (-1.1%) 0.87% -0.058 pp 0.00% 0.000 pp USD58.03 +129.1% 78 qtrs
7 STATE STREET CORP 298.3K -25.4K (-7.8%) 39.66M -923.2K (-2.3%) 0.82% -0.066 pp 0.00% 0.000 pp USD51.29 +159.2% 51 qtrs
8 AMERICAN CENTURY COMPANIES INC 264.3K +80.0K (+43.4%) 35.14M +12.0M (+52.0%) 0.73% +0.223 pp 0.02% +0.006 pp USD107.40 +23.8% 25 qtrs
9 GENERAL AMERICAN INVESTORS CO INC 243.4K +— (+0.0%) 32.36M +1.8M (+6.0%) 0.67% +0.003 pp 1.83% +0.057 pp USD22.67 +486.5% 76 qtrs
10 EMPYREAN CAPITAL PARTNERS, LP 231.0K +— (+0.0%) 30.71M +1.8M (+6.0%) 0.64% +0.003 pp 1.07% -0.093 pp USD125.38 +6.0% 2 qtrs
11 QVT FINANCIAL LP 229.7K +— (+0.0%) 30.54M +1.7M (+6.0%) 0.63% +0.003 pp 2.62% +0.586 pp USD88.58 +50.1% 18 qtrs
12 BRAGG FINANCIAL ADVISORS, INC 212.6K +6.6K (+3.2%) 28.27M +2.4M (+9.5%) 0.59% +0.021 pp 0.92% +0.066 pp USD123.55 +7.6% 3 qtrs
13 JPMORGAN CHASE & CO 181.5K -3.5K (-1.9%) 24.14M +936.4K (+4.0%) 0.50% -0.007 pp 0.00% +0.000 pp USD95.91 +38.6% 51 qtrs
14 NORTHERN TRUST CORP 160.8K -22.0K (-12.0%) 21.38M -1.5M (-6.7%) 0.44% -0.058 pp 0.00% 0.000 pp USD45.99 +189.1% 51 qtrs
15 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 154.8K -12.7K (-7.6%) 20.58M -422.0K (-2.0%) 0.43% -0.033 pp 0.00% 0.000 pp USD50.93 +161.1% 86 qtrs
16 SYCALE ADVISORS (NY) LLC 152.4K +5.1K (+3.4%) 20.27M +1.8M (+9.7%) 0.42% +0.016 pp 6.30% +2.840 pp USD94.48 +40.7% 25 qtrs
17 UBS GROUP AG 132.4K -59.4K (-31.0%) 17.60M -6.4M (-26.8%) 0.36% -0.161 pp 0.00% -0.001 pp USD114.71 +15.9% 45 qtrs
18 BAR HARBOR WEALTH MANAGEMENT 110.2K -371.0 (-0.3%) 14.66M +789.0K (+5.7%) 0.30% +0.000 pp 0.85% +0.015 pp USD86.51 +53.7% 15 qtrs
19 BANDERA PARTNERS LLC 102.4K +— (+0.0%) 13.62M +778.8K (+6.1%) 0.28% +0.001 pp 6.12% +0.493 pp USD90.80 +46.4% 11 qtrs
20 QUBE RESEARCH & TECHNOLOGIES LTD 76.8K -23.1K (-23.1%) 10.21M -2.3M (-18.5%) 0.21% -0.062 pp 0.01% -0.003 pp USD109.61 +21.3% 16 qtrs
21 BANK OF NEW YORK MELLON CORP 75.2K -15.4K (-17.0%) 9.99M -1.4M (-12.0%) 0.21% -0.041 pp 0.00% 0.000 pp USD53.62 +148.0% 66 qtrs
22 JANE STREET GROUP, LLC 69.7K +37.3K (+115.1%) 9.27M +5.2M (+128.1%) 0.19% +0.103 pp 0.00% +0.001 pp USD125.42 +6.0% 10 qtrs
23 MORGAN STANLEY 66.8K -10.6K (-13.7%) 8.88M -827.4K (-8.5%) 0.18% -0.028 pp 0.00% 0.000 pp USD97.57 +36.3% 51 qtrs
24 LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE 66.1K -34.8K (-34.5%) 8.79M -3.9M (-30.5%) 0.18% -0.095 pp 2.62% +0.306 pp USD93.69 +41.9% 8 qtrs
25 D. E. SHAW & CO., INC. 66.0K +2.4K (+3.8%) 8.78M +806.1K (+10.1%) 0.18% +0.008 pp 0.00% +0.000 pp USD100.90 +31.8% 56 qtrs
26 GUARDIAN WEALTH MANAGEMENT, INC. 49.2K -268.0 (-0.5%) 6.55M +339.6K (+5.5%) 0.14% 0.000 pp 3.84% +0.178 pp USD97.11 +36.9% 17 qtrs
27 PHILADELPHIA FINANCIAL MANAGEMENT OF SAN FRANCISCO, LLC 46.9K +46.9K (+100.0%) 6.24M +6.2M (+100.0%) 0.13% +0.129 pp 0.67% +0.669 pp USD132.96 +0.0% 1 qtrs NEW
28 CRAWFORD FUND MANAGEMENT, LLC 46.1K +11.3K (+32.5%) 6.13M +1.8M (+40.5%) 0.13% +0.032 pp 0.81% +0.109 pp USD112.18 +18.5% 9 qtrs
29 GOLDMAN SACHS GROUP INC 45.2K -8.6K (-16.0%) 6.01M -738.4K (-10.9%) 0.12% -0.023 pp 0.00% 0.000 pp USD99.57 +33.5% 73 qtrs
30 DENALI ADVISORS LLC 44.6K +5.6K (+14.4%) 5.93M +1.0M (+21.3%) 0.12% +0.016 pp 0.66% +0.106 pp USD82.39 +61.4% 51 qtrs
31 BRANDYWINE GLOBAL INVESTMENT MANAGEMENT, LLC 38.9K -1.1K (-2.8%) 5.17M +156.6K (+3.1%) 0.11% -0.003 pp 0.03% +0.000 pp USD30.68 +333.4% 62 qtrs
32 HIGHTOWER ADVISORS, LLC 34.9K -1.8K (-5.0%) 4.63M +34.2K (+0.7%) 0.10% -0.005 pp 0.01% 0.000 pp USD88.95 +49.5% 26 qtrs
33 EDGESTREAM PARTNERS, L.P. 34.3K +23.9K (+228.4%) 4.56M +3.3M (+248.3%) 0.09% +0.066 pp 0.13% +0.090 pp USD125.80 +5.7% 6 qtrs
34 LPL FINANCIAL LLC 32.6K +606.0 (+1.9%) 4.34M +323.4K (+8.1%) 0.09% +0.002 pp 0.00% +0.000 pp USD96.08 +38.4% 22 qtrs
35 HRT FINANCIAL LP 32.0K +18.6K (+138.6%) 4.25M +2.6M (+153.2%) 0.09% +0.051 pp 0.01% +0.007 pp USD129.03 +3.0% 3 qtrs
36 CITADEL ADVISORS LLC 31.0K -19.0K (-38.0%) 4.12M -2.1M (-34.3%) 0.09% -0.052 pp 0.00% 0.000 pp USD114.80 +15.8% 27 qtrs
37 RENAISSANCE TECHNOLOGIES LLC 30.2K +17.3K (+134.1%) 4.02M +2.4M (+148.3%) 0.08% +0.048 pp 0.01% +0.004 pp USD125.17 +6.2% 12 qtrs
38 SWISS NATIONAL BANK 27.7K +300.0 (+1.1%) 3.68M +247.6K (+7.2%) 0.08% +0.001 pp 0.00% +0.000 pp USD47.77 +178.3% 51 qtrs
39 MARSHALL WACE, LLP 27.5K -23.2K (-45.8%) 3.65M -2.7M (-42.5%) 0.08% -0.063 pp 0.00% -0.003 pp USD118.78 +11.9% 9 qtrs
40 UBS ASSET MANAGEMENT AMERICAS INC 27.1K -361.0 (-1.3%) 3.60M +159.8K (+4.6%) 0.07% -0.001 pp 0.00% +0.000 pp USD87.09 +52.7% 52 qtrs
41 NUVEEN, LLC 26.0K -2.1K (-7.6%) 3.46M -69.9K (-2.0%) 0.07% -0.006 pp 0.00% +0.000 pp USD110.93 +19.9% 4 qtrs
42 TWO SIGMA INVESTMENTS, LP 25.6K +18.3K (+250.3%) 3.40M +2.5M (+271.5%) 0.07% +0.050 pp 0.00% +0.003 pp USD130.80 +1.7% 2 qtrs
43 MILLENNIUM MANAGEMENT LLC 25.3K -2.7K (-9.8%) 3.36M -152.1K (-4.3%) 0.07% -0.007 pp 0.00% 0.000 pp USD124.98 +6.4% 5 qtrs
44 AQR CAPITAL MANAGEMENT LLC 24.4K +4.3K (+21.2%) 3.25M +720.9K (+28.5%) 0.07% +0.012 pp 0.00% +0.000 pp USD116.19 +14.4% 70 qtrs
45 SUSQUEHANNA INTERNATIONAL GROUP, LLP 24.2K +9.8K (+68.1%) 3.22M +1.4M (+78.3%) 0.07% +0.027 pp 0.00% +0.000 pp USD118.34 +12.4% 14 qtrs
46 D.A. DAVIDSON & CO. 24.1K +961.0 (+4.2%) 3.20M +302.8K (+10.5%) 0.07% +0.003 pp 0.02% +0.001 pp USD80.95 +64.2% 36 qtrs
47 ALGERT GLOBAL LLC 23.4K +— (+0.0%) 3.12M +178.0K (+6.1%) 0.06% +0.000 pp 0.05% -0.001 pp USD95.95 +38.6% 9 qtrs
48 TUDOR INVESTMENT CORP ET AL 23.2K +8.6K (+59.3%) 3.09M +1.3M (+69.0%) 0.06% +0.024 pp 0.01% +0.003 pp USD120.67 +10.2% 5 qtrs
49 RHUMBLINE ADVISERS 22.9K -4.8K (-17.3%) 3.04M -424.5K (-12.3%) 0.06% -0.013 pp 0.00% 0.000 pp USD55.75 +138.5% 51 qtrs
50 FIRST MANHATTAN CO. LLC. 21.8K +21.8K (+100.0%) 2.89M +2.9M (+100.0%) 0.06% +0.060 pp 0.01% +0.008 pp USD132.96 +0.0% 1 qtrs NEW
51 Y-INTERCEPT (HONG KONG) LTD 21.6K +21.6K (+100.0%) 2.88M +2.9M (+100.0%) 0.06% +0.060 pp 0.06% +0.064 pp USD132.96 +0.0% 1 qtrs NEW
52 JAMES INVESTMENT RESEARCH INC 20.8K +— (+0.0%) 2.76M +157.3K (+6.0%) 0.06% +0.000 pp 0.30% +0.017 pp USD46.81 +184.0% 51 qtrs
53 MARTINGALE ASSET MANAGEMENT L P 19.6K -5.1K (-20.7%) 2.61M -493.7K (-15.9%) 0.05% -0.014 pp 0.07% -0.012 pp USD115.07 +15.5% 4 qtrs
54 INVESCO LTD. 19.5K -4.5K (-18.8%) 2.60M -418.1K (-13.9%) 0.05% -0.012 pp 0.00% 0.000 pp USD65.92 +101.7% 57 qtrs
55 BARCLAYS PLC 17.6K -11.4K (-39.3%) 2.34M -943.1K (-28.7%) 0.05% -0.031 pp 0.00% 0.000 pp USD105.68 +25.8% 51 qtrs
56 PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C. 17.2K +— (+0.0%) 2.29M +130.4K (+6.0%) 0.05% +0.000 pp 0.21% -0.015 pp USD95.67 +39.0% 8 qtrs
57 FIRST TRUST ADVISORS LP 17.2K +7.3K (+73.6%) 2.28M +1.0M (+84.1%) 0.05% +0.020 pp 0.00% +0.001 pp USD103.98 +27.9% 39 qtrs
58 NEW YORK STATE COMMON RETIREMENT FUND 15.5K +1.1K (+7.6%) 2.06M +255.5K (+14.1%) 0.04% +0.003 pp 0.00% +0.000 pp USD68.03 +95.4% 88 qtrs
59 CAPTRUST FINANCIAL ADVISORS 15.4K -915.0 (-5.6%) 2.05M +2.2K (+0.1%) 0.04% -0.002 pp 0.00% 0.000 pp USD85.82 +54.9% 20 qtrs
60 ALLIANCEBERNSTEIN L.P. 15.2K -4.0K (-20.7%) 2.02M -382.5K (-15.9%) 0.04% -0.011 pp 0.00% 0.000 pp USD41.60 +219.6% 61 qtrs
61 CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD. 15.0K -7.0K (-31.8%) 2.00M -766.5K (-27.7%) 0.04% -0.019 pp 0.01% -0.004 pp USD121.91 +9.1% 6 qtrs
62 SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC 14.4K +11.6K (+415.0%) 1.91M +1.6M (+446.2%) 0.04% +0.032 pp 0.07% +0.052 pp USD131.49 +1.1% 2 qtrs
63 LEGAL & GENERAL GROUP PLC 14.1K -170.0 (-1.2%) 1.88M +85.6K (+4.8%) 0.04% 0.000 pp 0.00% +0.000 pp USD73.97 +79.7% 46 qtrs
64 ANCHOR CAPITAL ADVISORS LLC 14.0K +1.0K (+7.7%) 1.87M +232.3K (+14.2%) 0.04% +0.003 pp 0.05% +0.007 pp USD90.07 +47.6% 16 qtrs
65 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 13.3K +257.0 (+2.0%) 1.76M +132.7K (+8.1%) 0.04% +0.001 pp 0.00% +0.000 pp USD39.67 +235.2% 52 qtrs
66 WELLS FARGO & COMPANY/MN 13.2K +2.7K (+25.2%) 1.75M +432.7K (+32.8%) 0.04% +0.007 pp 0.00% +0.000 pp USD103.57 +28.4% 57 qtrs
67 CREATIVE PLANNING 13.1K +2.3K (+21.4%) 1.75M +390.2K (+28.7%) 0.04% +0.007 pp 0.00% +0.000 pp USD110.89 +19.9% 12 qtrs
68 SEI INVESTMENTS CO 13.0K -210.0 (-1.6%) 1.73M +72.2K (+4.4%) 0.04% 0.000 pp 0.00% 0.000 pp USD121.88 +9.1% 4 qtrs
69 QUEST PARTNERS LLC 13.0K +12.6K (+3,175.3%) 1.72M +1.7M (+3,373.3%) 0.04% +0.035 pp 0.10% +0.093 pp USD132.58 +0.3% 9 qtrs
70 PILGRIM PARTNERS ASIA PTE LTD 12.0K +— (+0.0%) 1.60M +91.0K (+6.0%) 0.03% +0.000 pp 0.76% +0.092 pp USD125.38 +6.0% 2 qtrs
71 SG AMERICAS SECURITIES, LLC 12.0K +12.0K (+100.0%) 1.59M +1.6M (+100.0%) 0.03% +0.033 pp 0.00% +0.002 pp USD132.96 +0.0% 28 qtrs
72 BANK OF AMERICA CORP /DE/ 11.9K -10.8K (-47.6%) 1.58M -1.3M (-44.4%) 0.03% -0.030 pp 0.00% 0.000 pp USD104.38 +27.4% 52 qtrs
73 POINT72 ASSET MANAGEMENT, L.P. 11.8K +11.8K (+100.0%) 1.57M +1.6M (+100.0%) 0.03% +0.033 pp 0.00% +0.002 pp USD132.96 +0.0% 1 qtrs NEW
74 LAZARD ASSET MANAGEMENT LLC 11.0K +11.0K (+100.0%) 1.47M +1.5M (+100.0%) 0.03% +0.030 pp 0.00% +0.003 pp USD132.96 +0.0% 1 qtrs NEW
75 FIELDVIEW CAPITAL MANAGEMENT, LLC 10.5K +10.5K (+100.0%) 1.40M +1.4M (+100.0%) 0.03% +0.029 pp 0.24% +0.238 pp USD132.96 +0.0% 1 qtrs NEW
76 PRICE T ROWE ASSOCIATES INC /MD/ 9.6K -1.9K (-16.2%) 1.28M -160.0K (-11.1%) 0.03% -0.005 pp 0.00% +0.000 pp USD101.14 +31.5% 38 qtrs
77 MILITIA CAPITAL PARTNERS, LP 9.0K +9.0K (+100.0%) 1.20M +1.2M (+100.0%) 0.02% +0.025 pp 0.44% +0.442 pp USD132.96 +0.0% 1 qtrs NEW
78 VICTORY CAPITAL MANAGEMENT INC 8.9K +7.1K (+378.3%) 1.19M +953.1K (+407.2%) 0.02% +0.020 pp 0.00% +0.001 pp USD124.42 +6.9% 43 qtrs
79 WEDGE CAPITAL MANAGEMENT L L P/NC 8.7K +81.0 (+0.9%) 1.16M +76.4K (+7.0%) 0.02% +0.000 pp 0.02% +0.003 pp USD125.45 +6.0% 2 qtrs
80 DEUTSCHE BANK AG\ 8.4K -2.6K (-23.5%) 1.12M -260.8K (-18.9%) 0.02% -0.007 pp 0.00% 0.000 pp USD111.96 +18.8% 50 qtrs
81 MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. 7.9K -1.1K (-11.9%) 1.05M -72.9K (-6.5%) 0.02% -0.003 pp 0.00% 0.000 pp USD102.24 +30.0% 7 qtrs
82 NORTHCREST ASSET MANANGEMENT, LLC 7.5K +49.0 (+0.7%) 992.1K +31.0K (+3.2%) 0.02% +0.000 pp 0.02% -0.001 pp USD115.23 +15.4% 6 qtrs
83 INTECH INVESTMENT MANAGEMENT LLC 7.3K -861.0 (-10.5%) 972.2K -52.5K (-5.1%) 0.02% -0.002 pp 0.01% -0.001 pp USD109.01 +22.0% 6 qtrs
84 MANUFACTURERS LIFE INSURANCE COMPANY, THE 7.1K -721.0 (-9.2%) 948.7K -36.3K (-3.7%) 0.02% -0.002 pp 0.00% +0.000 pp USD69.95 +90.1% 51 qtrs
85 QRG CAPITAL MANAGEMENT, INC. 7.1K +497.0 (+7.6%) 940.6K +115.9K (+14.1%) 0.02% +0.002 pp 0.01% +0.001 pp USD102.17 +30.1% 10 qtrs
86 TEACHER RETIREMENT SYSTEM OF TEXAS 6.9K -653.0 (-8.6%) 922.7K -29.3K (-3.1%) 0.02% -0.002 pp 0.00% -0.001 pp USD99.34 +33.8% 18 qtrs
87 ASSET VALUE INVESTORS LTD 6.4K -1.9K (-23.1%) 847.0K -191.2K (-18.4%) 0.02% -0.005 pp 0.72% -0.031 pp USD106.81 +24.5% 5 qtrs
88 KLP KAPITALFORVALTNING AS 6.2K +200.0 (+3.3%) 824.4K +72.1K (+9.6%) 0.02% +0.001 pp 0.00% +0.000 pp USD107.65 +23.5% 5 qtrs
89 METLIFE INVESTMENT MANAGEMENT, LLC 6.2K -1.3K (-17.2%) 822.4K -114.4K (-12.2%) 0.02% -0.003 pp 0.00% -0.001 pp USD73.08 +81.9% 33 qtrs
90 JANUS HENDERSON GROUP PLC 6.0K +— (+0.0%) 798.4K +45.1K (+6.0%) 0.02% +0.000 pp 0.00% +0.000 pp USD94.24 +41.1% 17 qtrs
91 INTEGRATED QUANTITATIVE INVESTMENTS LLC 5.7K +4.0K (+243.5%) 752.3K +545.8K (+264.3%) 0.02% +0.011 pp 0.16% +0.103 pp USD130.75 +1.7% 2 qtrs
92 CITIGROUP INC 5.5K -25.0 (-0.5%) 725.6K +38.2K (+5.6%) 0.02% +0.000 pp 0.00% +0.000 pp USD108.22 +22.9% 54 qtrs
93 BALYASNY ASSET MANAGEMENT L.P. 5.4K -2.9K (-34.6%) 719.4K -318.4K (-30.7%) 0.01% -0.008 pp 0.00% 0.000 pp USD125.38 +6.0% 2 qtrs
94 HANDELSBANKEN FONDER AB 5.2K +800.0 (+18.4%) 685.0K +139.0K (+25.5%) 0.01% +0.002 pp 0.00% +0.000 pp USD106.43 +24.9% 23 qtrs
95 ACADIAN ASSET MANAGEMENT LLC 5.2K +704.0 (+15.8%) 684.0K +127.0K (+22.8%) 0.01% +0.002 pp 0.00% +0.000 pp USD117.77 +12.9% 5 qtrs
96 GSA CAPITAL PARTNERS LLP 4.8K +4.8K (+100.0%) 643.0K +643.0K (+100.0%) 0.01% +0.013 pp 0.06% +0.055 pp USD132.96 +0.0% 1 qtrs NEW
97 AVITY INVESTMENT MANAGEMENT INC. 4.8K +— (+0.0%) 638.7K +36.4K (+6.0%) 0.01% +0.000 pp 0.04% +0.003 pp USD121.12 +9.8% 3 qtrs
98 SUSQUEHANNA PORTFOLIO STRATEGIES, LLC 4.7K +— (+0.0%) 622.8K +35.5K (+6.0%) 0.01% +0.000 pp 0.01% +0.000 pp USD125.38 +6.0% 2 qtrs
99 RMR CAPITAL MANAGEMENT, LLC 4.6K -150.0 (-3.1%) 613.3K +16.2K (+2.7%) 0.01% 0.000 pp 0.44% +0.024 pp USD106.12 +25.3% 7 qtrs
100 STATE OF WISCONSIN INVESTMENT BOARD 4.5K -388.0 (-7.9%) 599.1K -14.5K (-2.4%) 0.01% -0.001 pp 0.00% 0.000 pp USD109.69 +21.2% 7 qtrs
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 114 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 VictoryShares US Small Mid Cap Value Momentum ETF USVM 0.49% 8.45M 0.29%
2 Harbor AlphaEdge Small Cap Earners ETF (EBIT) EBIT 0.48% 56.7K 0.29%
3 State Street SPDR US Small Cap Low Volatility Index ETF SMLV 0.47% 1.19M 0.12%
4 WisdomTree U.S. SmallCap Fund EES 0.39% 2.83M 0.38%
5 Timothy Plan US Small Cap Core ETF TPSC 0.36% 1.17M 0.52%
6 Global X - Millennial Consumer ETF MILN 0.29% 284.9K 0.50%
7 First Trust Small Cap Core AlphaDEX Fund FYX 0.26% 3.47M 0.58%
8 Motley Fool Next Index ETF TMFX 0.22% 69.4K 0.50%
9 Dimensional - US Small Cap Value ETF DFSV 0.22% 17.45M 0.30%
10 Inspire Small/Mid Cap ETF ISMD 0.20% 664.6K 0.53%

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
1.00
Neutral
Ratio by volume
1.00
Neutral
Buys
1
Sells
1
Shares acquired
1.1K
Shares disposed
1.1K
Cash buys
Cash sales
Net activity
+0
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2026-04-30 Kruger James D Officer G-Gift D Class A Common Stock 5,000 0.00 5,000 I
2026-04-15 Munn William J Officer G-Gift A Class A Common Stock 1,052 0.00 12,155 I
2026-03-30 Peterson Adam K Other M-Exempt A Class A Common Stock 9,544 0.00 1,678,520 D
2026-03-23 Peterson Adam K 0 0.00 0
2026-03-10 Wenger DeeAnn Officer F-InKind D Class A Common Stock 129 131.23 16.9K 26,047 D
2026-03-10 Tewes Timothy Officer F-InKind D Class A Common Stock 3,700 132.87 491.6K 94,048 D
2026-03-10 Olinger Emily Officer F-InKind D Class A Common Stock 50 131.23 6.6K 4,378 D
2026-03-10 NOORDHOEK JEFFREY R Officer A-Award A Class A Common Stock 7,527 0.00 109,583 D
2026-03-10 Munn William J Officer A-Award A Class A Common Stock 2,597 0.00 8,687 D
2026-03-10 Kruger James D Officer A-Award A Class A Common Stock 8,656 0.00 73,080 D
2026-03-10 HEIMES TERRY J Officer F-InKind D Class A Common Stock 322 131.23 42.3K 17,709 D
2026-03-10 Dunlap Matthew W Director / Officer A-Award A Class A Common Stock 3,764 0.00 17,069 D
2025-12-09 Van Deun Jona M Director S-Sale D Class A Common Stock 400 128.95 51.6K 704 D
2025-12-01 Dunlap Matthew W Director / Officer G-Gift A Class B Common Stock 63,126 0.00 226,197 D
2025-12-01 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift A Class B Common Stock 88,697 0.00 153,880 I
2025-11-19 DUNLAP MICHAEL S 0 0.00 0
2025-09-05 HENNING THOMAS EDWARD Director S-Sale D Class A Common Stock 5,094 128.87 656.5K 11,058 D
2025-08-25 Butterfield Shelby J 10% Owner C-Conversion A Class A Common Stock 41,929 0.00 42,439 I
2025-08-18 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 11,699 0.00 2,191,180 D
2025-07-28 MUHLEISEN ANGIE 10% Owner G-Gift A Class A Common Stock 9,795 0.00 72,482 I
2025-07-28 Dunlap Matthew W Director / Officer G-Gift A Class B Common Stock 8,059 0.00 163,071 D
2025-07-28 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift A Class B Common Stock 4,817 0.00 4,817 I
2025-07-28 Butterfield Shelby J 10% Owner G-Gift A Class B Common Stock 3,685 0.00 3,685 I
2025-07-17 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 41,250 0.00 972,199 D
2025-06-16 Van Deun Jona M Director A-Award A Class A Common Stock 471 95.58 45.0K 1,104 D
2025-06-16 Rath Kimberly Kay Director A-Award A Phantom Stock 1,779 0.00 63,058 D
2025-06-16 Peterson Adam K Director A-Award A Phantom Stock 1,884 0.00 1,678,448 D
2025-06-16 HENNING THOMAS EDWARD Director A-Award A Phantom Stock 2,015 0.00 57,000 D
2025-06-16 Graff David S Director A-Award A Class A Common Stock 1,779 95.58 170.0K 30,325 D
2025-06-16 Farrell Kathleen Anne Director A-Award A Class A Common Stock 1,884 95.58 180.1K 20,944 D
2025-06-16 Bansal Preeta D Director A-Award A Class A Common Stock 1,884 95.58 180.1K 18,617 D
2025-06-10 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 15 115.07 1.7K 13,319 D
2025-06-09 Peterson Adam K Director J-Other D Class A Common Stock, Par Value $0.01 per Share 231,024 0.00 1,676,487 D
2025-04-09 Munn William J Officer G-Gift A Class A Common Stock 1,749 0.00 11,103 I
2025-03-10 Wenger DeeAnn Officer A-Award A Class A Common Stock 4,168 0.00 26,375 D
2025-03-10 Tewes Timothy Officer A-Award A Class A Common Stock 2,293 0.00 83,074 D
2025-03-10 Olinger Emily Officer A-Award A Class A Common Stock 834 0.00 4,473 D
2025-03-10 NOORDHOEK JEFFREY R Officer F-InKind D Class A Common Stock 486 115.86 56.3K 102,174 D
2025-03-10 Munn William J Officer F-InKind D Class A Common Stock 141 115.86 16.3K 4,826 D
2025-03-10 Kruger James D Officer F-InKind D Class A Common Stock 488 115.86 56.5K 54,253 D
2025-03-10 HEIMES TERRY J Officer F-InKind D Class A Common Stock 486 115.86 56.3K 19,522 D
2025-03-10 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 30 115.86 3.5K 13,403 D
2025-02-21 NOORDHOEK JEFFREY R Officer G-Gift D Class A Common Stock 11,284 0.00 0 I
2024-12-31 Butterfield Shelby J 10% Owner G-Gift D Class B Common Stock 4,484 0.00 18,424 I
2024-11-15 Van Deun Jona M Director S-Sale D Class A Common Stock 440 110.32 48.5K 633 D
2024-11-14 Dunlap Matthew W Director / Officer G-Gift A Class B Common Stock 154,912 0.00 155,012 D
2024-11-14 DUNLAP MICHAEL S 0 0.00 0
2024-11-13 Munn William J Officer S-Sale D Class A Common Stock 2,500 108.89 272.2K 9,354 I
2024-11-11 Munn William J Officer G-Gift D Class A Common Stock 100 0.00 11,854 I
2024-09-13 Tewes Timothy Officer F-InKind D Class A Common Stock 293 108.09 31.7K 81,115
2024-09-13 Munn William J Officer A-Award A Class A Common Stock 674 0.00 5,165
2024-08-29 DUNLAP MICHAEL S 0 0.00 0
2024-08-21 Kruger James D Officer G-Gift D Class A Common Stock 5,000 0.00 5,000
2024-06-17 Van Deun Jona M Director A-Award A Class A Common Stock 542 83.14 45.1K 1,073
2024-06-17 Rath Kimberly Kay Director A-Award A Phantom Stock 2,045 0.00 60,669
2024-06-17 Peterson Adam K Director A-Award A Phantom Stock 2,166 0.00 1,907,511
2024-06-17 HENNING THOMAS EDWARD Director A-Award A Phantom Stock 2,316 0.00 54,439
2024-06-17 Graff David S Director A-Award A Class A Common Stock 2,045 83.14 170.0K 28,546
2024-06-17 Farrell Kathleen Anne Director A-Award A Class A Common Stock 2,166 83.14 180.1K 19,060
2024-06-17 Bansal Preeta D Director A-Award A Class A Common Stock 2,166 83.14 180.1K 16,733
2024-06-10 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 15 100.09 1.5K 13,348
2024-06-06 Farrell Kathleen Anne Director S-Sale D Class A Common Stock 1,700 101.73 172.9K 16,894
2024-05-16 Wenger DeeAnn Officer D Class A Common Stock 0 0.00 22,745
2024-05-16 Olinger Emily Officer D Class A Common Stock 0 0.00 3,750
2024-05-09 Butterfield Shelby J 10% Owner I Class B Common Stock 0 0.00 75,467
2024-03-28 Munn William J Officer G-Gift D Class A Common Stock 1,532 0.00 4,491
2024-03-28 HEIMES TERRY J Officer G-Gift A Class A Common Stock 1,210 0.00 7,420
2024-03-10 Tewes Timothy Officer F-InKind D Class A Common Stock 322 88.63 28.5K 80,410
2024-03-10 NOORDHOEK JEFFREY R Officer F-InKind D Class A Common Stock 356 88.63 31.6K 103,670
2024-03-10 Munn William J Officer F-InKind D Class A Common Stock 129 88.63 11.4K 6,023
2024-03-10 Kruger James D Officer F-InKind D Class A Common Stock 322 88.63 28.5K 53,198
2024-03-10 HEIMES TERRY J Officer F-InKind D Class A Common Stock 322 88.63 28.5K 26,064
2024-03-10 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 29 88.63 2.6K 13,406
2024-03-08 Dunlap Matthew W Director / Officer A-Award A Class A Common Stock 3,924 0.00 14,627
2023-12-18 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 80,500 0.00 909,965
2023-11-22 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 88,010 0.00 0
2023-09-13 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift A Class B Common Stock 173,183 0.00 173,183
2023-09-12 DUNLAP MICHAEL S 0 0.00 0
2023-08-31 Munn William J Officer S-Sale D Class A Common Stock 2,500 91.30 228.3K 6,663
2023-08-24 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 215 0.00 681,323
2023-08-24 DUNLAP MICHAEL S 0 0.00 0
2023-08-15 Van Deun Jona M Director S-Sale D Class A Common Stock 785 94.40 74.1K 531
2023-07-21 MUHLEISEN ANGIE 0 0.00 0
2023-07-07 Munn William J Officer G-Gift A Class A Common Stock 1,500 0.00 10,422
2023-07-06 Munn William J Officer G-Gift A Class A Common Stock 8,922 0.00 8,922
2023-06-20 Van Deun Jona M Director A-Award A Class A Common Stock 531 84.79 45.0K 1,316
2023-06-20 Rath Kimberly Kay Director A-Award A Phantom Stock 2,005 0.00 57,920
2023-06-20 Peterson Adam K Director A-Award A Phantom Stock 2,123 0.00 1,905,280
2023-06-20 HENNING THOMAS EDWARD Director A-Award A Phantom Stock 2,271 0.00 51,498
2023-06-20 Graff David S Director A-Award A Class A Common Stock 2,005 84.79 170.0K 26,501
2023-06-20 Farrell Kathleen Anne Director A-Award A Class A Common Stock 2,123 84.79 180.0K 18,594
2023-06-20 Bansal Preeta D Director A-Award A Class A Common Stock 2,123 84.79 180.0K 14,567
2023-06-12 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 15 98.71 1.5K 10,638
2023-03-10 Tewes Timothy Officer A-Award A Class A Common Stock 5,473 0.00 81,879
2023-03-10 NOORDHOEK JEFFREY R Officer F-InKind D Class A Common Stock 356 90.43 32.2K 94,939
2023-03-10 Munn William J Officer F-InKind D Class A Common Stock 143 90.43 12.9K 16,653
2023-03-10 Kruger James D Officer F-InKind D Class A Common Stock 791 90.43 71.5K 41,786
2023-03-10 HEIMES TERRY J Officer F-InKind D Class A Common Stock 356 90.43 32.2K 26,214
2023-03-10 Dunlap Matthew W Director / Officer F-InKind D Class A Common Stock 462 91.36 42.2K 10,635
2022-12-16 DUNLAP MICHAEL S Officer G-Gift D Class A Common Stock 40,000 0.00 1,839,574
2022-11-14 Munn William J Officer S-Sale D Class A Common Stock 500 95.49 47.7K 17,271
2022-10-13 Munn William J Officer S-Sale D Class A Common Stock 1,500 80.89 121.3K 17,771
2022-09-23 MUHLEISEN ANGIE Director G-Gift D Class A Common Stock 88,070 0.00 0
2022-06-21 Van Deun Jona M Director A-Award A Phantom Stock 2,071 65.21 135.0K 2,339
2022-06-21 Rath Kimberly Kay Director A-Award A Phantom Stock 2,607 65.21 170.0K 55,290
2022-06-21 Peterson Adam K Director A-Award A Phantom Stock 2,761 0.00 1,903,119
2022-06-21 MAGNOLIA GROUP, LLC Director A-Award A Phantom Stock 2,761 65.21 180.0K 1,903,119
2022-06-21 HENNING THOMAS EDWARD Director A-Award A Class A Common Stock 2,953 65.21 192.6K 16,152
2022-06-21 Graff David S Director A-Award A Class A Common Stock 2,607 65.21 170.0K 24,496
2022-06-21 Farrell Kathleen Anne Director A-Award A Class A Common Stock 2,761 65.21 180.0K 16,471
2022-06-21 Cintani William Robert Director A-Award A Phantom Stock 2,761 65.21 180.0K 29,580
2022-06-21 Bansal Preeta D Director A-Award A Class A Common Stock 2,761 65.21 180.0K 12,444
2022-06-13 Munn William J Officer S-Sale D Class A Common Stock 500 79.76 39.9K 20,771
2022-06-10 Dunlap Matthew W Officer F-InKind D Class A Common Stock 15 81.32 1.2K 9,616
2022-05-09 Munn William J Officer S-Sale D Class A Common Stock 500 81.21 40.6K 21,271
2022-04-11 Munn William J Officer S-Sale D Class A Common Stock 500 84.60 42.3K 21,771
2022-03-23 Kruger James D Officer G-Gift A Class A Common Stock 45,000 0.00 45,000
2022-03-17 Van Deun Jona M Director A-Award A Class A Common Stock 89 72.62 6.5K 89
2022-03-17 Peterson Adam K Director I Class A Common Stock 0 0.00 1,900,000
2022-03-17 MAGNOLIA GROUP, LLC Director A-Award A Phantom Stock 356 72.62 25.9K 1,900,356
2022-03-17 Dunlap Matthew W Director / Officer Class A Common Stock 0 0.00 7,367 D
2022-03-17 ABEL JAMES P Director M-Exempt D Phantom Stock 63,801 0.00 0
2022-03-10 Tewes Timothy Officer A-Award A Class A Common Stock 6,052 0.00 77,830
2022-03-10 NOORDHOEK JEFFREY R Officer F-InKind D Class A Common Stock 786 83.64 65.7K 81,412
2022-03-10 Munn William J Officer S-Sale D Class A Common Stock 500 83.99 42.0K 22,271
2022-03-10 Kruger James D Officer A-Award A Class A Common Stock 6,052 0.00 122,939
2022-03-10 HEIMES TERRY J Officer F-InKind D Class A Common Stock 791 83.64 66.2K 45,171
2022-02-14 Munn William J Officer S-Sale D Class A Common Stock 500 79.96 40.0K 18,050
2022-01-10 Munn William J Officer S-Sale D Class A Common Stock 500 96.44 48.2K 18,550
2021-12-31 Bansal Preeta D Director D Class A Common Stock 0 0.00 9,683
2021-12-30 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift D Class B Common Stock 285,907 0.00 0
2021-12-21 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift D Class A Common Stock 10,000 0.00 1,879,574
2021-12-16 Munn William J Officer S-Sale D Class A Common Stock 5,000 98.08 490.4K 19,050
2021-12-14 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift D Class A Common Stock 40,000 0.00 1,889,574
2021-10-26 MUHLEISEN ANGIE 10% Owner G-Gift D Class A Common Stock 59,694 0.00 1,134,369
2021-08-27 Munn William J Officer S-Sale D Class A Common Stock 1,927 79.95 154.1K 24,050
2021-08-20 Kruger James D Officer G-Gift D Class A Common Stock 10,000 0.00 152,673
2021-08-18 Munn William J Officer S-Sale D Class A Common Stock 73 79.95 5.8K 25,977
2021-08-13 Kruger James D Officer G-Gift D Class A Common Stock 15,000 0.00 162,673
2021-08-10 Butterfield Shelby J C-Conversion A Class A Common Stock 13,534 0.00 13,534
2021-08-06 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 2,854 76.21 217.5K 65,560
2021-08-05 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 4,900 75.10 368.0K 70,610
2021-08-04 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 100 75.09 7.5K 75,510
2021-07-30 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 75.29 376.5K 80,510
2021-07-29 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 4,410 75.01 330.8K 86,100
2021-07-28 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 3,319 73.81 245.0K 92,191
2021-07-23 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 73.35 366.8K 95,510
2021-07-22 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 4,999 73.12 365.5K 100,511
2021-07-21 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 74.37 371.9K 5,510
2021-07-16 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 2,778 74.17 206.0K 12,732
2021-07-15 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 74.43 372.2K 15,510
2021-07-14 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 74.23 371.2K 20,510
2021-07-09 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 73.97 369.9K 25,510
2021-07-08 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 1,103 73.89 81.5K 30,510
2021-07-07 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 751 74.79 56.2K 35,510
2021-07-02 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 75.43 377.2K 40,510
2021-07-01 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 4,758 75.58 359.6K 45,752
2021-06-30 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 75.38 376.9K 50,510
2021-06-25 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 4,795 76.55 367.1K 55,715
2021-06-24 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 1,622 75.67 122.7K 63,888
2021-06-23 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 75.66 378.3K 65,510
2021-06-21 Rath Kimberly Kay Director A-Award A Phantom Stock 2,292 0.00 52,097
2021-06-21 MARTIN JOANN M Director A-Award A Class A Common Stock 2,450 63.28 155.0K 6,132
2021-06-21 HENNING THOMAS EDWARD Director A-Award A Phantom Stock 2,647 0.00 48,135
2021-06-21 Graff David S Director A-Award A Class A Common Stock 2,450 63.28 155.0K 21,889
2021-06-21 Farrell Kathleen Anne Director A-Award A Class A Common Stock 2,608 63.28 165.0K 13,710
2021-06-21 Cintani William Robert Director A-Award A Phantom Stock 2,450 0.00 26,520
2021-06-21 Bansal Preeta D Director A-Award A Class A Common Stock 2,450 63.28 155.0K 9,683
2021-06-21 ABEL JAMES P Director A-Award A Phantom Stock 2,292 0.00 63,288
2021-06-18 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 437 75.31 32.9K 70,510
2021-06-17 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 100 77.48 7.7K 75,510
2021-06-16 MUHLEISEN ANGIE 10% Owner G-Gift A Class A Common Stock 1,000,000 0.00 1,194,063
2021-06-16 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 76.41 382.1K 80,510
2021-06-11 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 1,548 74.46 115.3K 88,962
2021-06-10 Butterfield Shelby J 10% Owner S-Sale D Class A Common Stock 5,000 74.63 373.2K 90,510
2021-06-09 Butterfield Shelby J 10% Owner C-Conversion A Class A Common Stock 100,000 0.00 100,510
2021-04-09 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift D Class A Common Stock 40,000 0.00 1,929,574
2021-03-17 Munn William J Officer G-Gift D Class A Common Stock 150 0.00 26,050
2021-03-10 Tewes Timothy Officer A-Award A Class A Common Stock 13,467 0.00 72,583
2021-03-10 NOORDHOEK JEFFREY R Officer A-Award A Class A Common Stock 13,467 0.00 81,560
2021-03-10 Munn William J Officer F-InKind D Class A Common Stock 107 76.70 8.2K 23,400
2021-03-10 Kruger James D Officer A-Award A Class A Common Stock 13,467 0.00 173,494
2021-03-10 HEIMES TERRY J Officer A-Award A Class A Common Stock 13,467 0.00 42,005
2021-03-03 Munn William J Officer S-Sale D Class A Common Stock 2,000 74.95 149.9K 23,788
2021-03-02 Munn William J Officer G-Gift D Class A Common Stock 338 0.00 26,200
2021-02-09 Munn William J Officer S-Sale D Class A Common Stock 2,000 73.24 146.5K 25,788
2021-02-05 Butterfield Shelby J 10% Owner G-Gift D Class B Common Stock 1,400 0.00 136,641
2020-12-31 Butterfield Shelby J 10% Owner G-Gift D Class B Common Stock 6,672 0.00 38,291
2020-11-02 Butterfield Shelby J 10% Owner G-Gift D Class B Common Stock 9,366 0.00 46,387
2020-10-30 DUNLAP MICHAEL S Director / Officer / 10% Owner G-Gift A Class B Common Stock 67,439 0.00 67,439
2020-09-15 DUNLAP MICHAEL S Director / Officer / 10% Owner 0 0.00 0
2020-08-11 Munn William J Officer S-Sale D Class A Common Stock 1,500 65.00 97.5K 27,788
2020-06-19 Rath Kimberly Kay Director A-Award A Phantom Stock 2,978 0.00 49,205
2020-06-19 MARTIN JOANN M Director A-Award A Class A Common Stock 3,226 40.30 130.0K 3,682
2020-06-19 HENNING THOMAS EDWARD Director A-Award A Phantom Stock 3,536 0.00 44,940
2020-06-19 Graff David S Director A-Award A Class A Common Stock 3,226 40.30 130.0K 19,439
2020-06-19 Farrell Kathleen Anne Director A-Award A Phantom Stock 868 0.00 30,422
2020-06-19 Cintani William Robert Director A-Award A Phantom Stock 3,226 0.00 23,780
2020-06-19 Bansal Preeta D Director A-Award A Class A Common Stock 3,226 40.30 130.0K 7,233
2020-06-19 ABEL JAMES P Director A-Award A Phantom Stock 2,978 0.00 60,262

Executive team

Top executives
EBIT / Employee
151.8K
Shares Outstanding
35.87M

Executive compensation

Executive compensation (annual)
# Year Executive Salary Bonus Stock award Option award Incentive Other Total % Stock-
based
Filing
1 2025 James D. Kruger Chief Financial Officer 906.9K 1.15M 275.1K 57.5K 2.39M 11.51%
2 2025 Timothy A. Tewes President 906.9K 1.15M 275.1K 44.3K 2.38M 11.58%
3 2025 Terry J. Heimes Chief Operating Officer 906.9K 1.11M 275.1K 74.0K 2.37M 11.62%
4 2025 Jeffrey R. Noordhoek Chief Executive Officer 906.9K 1.00M 275.1K 61.4K 2.24M 12.26%
5 2025 DeeAnn K. Wenger President, Nelnet Business Services 500.3K 537.5K 500.1K 58.0K 1.60M 31.33%
6 2024 Timothy A. Tewes President 870.0K 650.0K 201.4K 1.72M 0.00%
7 2024 James D. Kruger Chief Financial Officer 870.0K 650.0K 196.1K 1.72M 0.00%
8 2024 Terry J. Heimes Chief Operating Officer 870.0K 650.0K 70.3K 1.59M 0.00%
9 2024 Jeffrey R. Noordhoek Chief Executive Officer 870.0K 650.0K 35.6K 1.56M 0.00%
10 2024 DeeAnn K. Wenger President of Nelnet Business Services 468.0K 500.0K 100.0K 60.7K 1.13M 8.86%
11 2024 DeeAnn K. Wenger President, Nelnet Business Services 468.0K 500.0K 100.0K 60.7K 1.13M 8.86%
12 2023 Terry J. Heimes Chief Operating Officer 854.5K 450.0K 500.0K 74.9K 1.88M 26.61%
13 2023 Timothy A. Tewes President 854.5K 450.0K 500.0K 64.7K 1.87M 26.75%
14 2023 James D. Kruger Chief Financial Officer 854.5K 450.0K 500.0K 42.0K 1.85M 27.08%
15 2023 Jeffrey R. Noordhoek Chief Executive Officer 854.5K 450.0K 500.0K 37.6K 1.84M 27.14%
16 2023 Matthew W. Dunlap Chief Business Development Officer and President of Nelnet Financial Services 300.0K 450.0K 200.6K 950.7K 0.00%
17 2022 James D. Kruger Chief Financial Officer 813.8K 905.4K 500.0K 36.9K 2.26M 22.16%
18 2022 Terry J. Heimes Chief Operating Officer 813.8K 874.9K 500.0K 55.9K 2.24M 22.28%
19 2022 Jeffrey R. Noordhoek Chief Executive Officer 813.8K 874.9K 500.0K 36.2K 2.22M 22.47%
20 2022 Timothy A. Tewes President 813.8K 813.8K 500.0K 64.2K 2.19M 22.81%
21 2022 Michael S. Dunlap Executive Chairman 602.8K 602.8K 40.7K 1.25M 0.00%
22 2021 Jeffrey R. Noordhoek Chief Executive Officer 782.5K 899.9K 1.00M 49.9K 2.73M 36.60%
23 2021 James D. Kruger Chief Financial Officer 782.5K 899.9K 1.00M 31.2K 2.71M 36.85%
24 2021 Terry J. Heimes Chief Operating Officer 782.5K 841.2K 1.00M 57.4K 2.68M 37.30%
25 2021 Timothy A. Tewes President 782.5K 782.5K 1.00M 72.0K 2.64M 37.92%
26 2021 Michael S. Dunlap Executive Chairman 579.6K 579.6K 19.0K 1.18M 0.00%
27 2020 Terry J. Heimes Chief Operating Officer 759.7K 816.7K 65.2K 1.64M 0.00%
28 2020 Jeffrey R. Noordhoek Chief Executive Officer 759.7K 759.7K 48.9K 1.57M 0.00%
29 2020 Michael S. Dunlap Executive Chairman 562.8K 562.8K 379.6K 1.51M 0.00%
30 2020 James D. Kruger Chief Financial Officer 700.0K 752.6K 32.9K 1.49M 0.00%
31 2020 Timothy A. Tewes President 700.0K 700.0K 60.5K 1.46M 0.00%
32 2019 Terry J. Heimes Chief Operating Officer 737.6K 892.3K 45.6K 1.68M 0.00%
33 2019 Jeffrey R. Noordhoek Chief Executive Officer 737.6K 892.3K 42.7K 1.67M 0.00%
34 2019 Timothy A. Tewes President 650.0K 786.9K 54.5K 1.49M 0.00%
35 2019 James D. Kruger Chief Financial Officer 650.0K 786.9K 22.0K 1.46M 0.00%
36 2019 Michael S. Dunlap Executive Chairman 546.3K 615.0K 33.7K 1.20M 0.00%
37 2018 Jeffrey R. Noordhoek Chief Executive Officer 716.1K 1.03M 44.2K 1.79M 0.00%
38 2018 Terry J. Heimes Chief Operating Officer 716.1K 962.3K 48.1K 1.73M 0.00%
39 2018 Timothy A. Tewes President 550.0K 687.5K 54.9K 1.29M 0.00%
40 2018 James D. Kruger Chief Financial Officer 550.0K 687.5K 38.9K 1.28M 0.00%
41 2018 Michael S. Dunlap Executive Chairman 530.5K 663.1K 21.5K 1.22M 0.00%
42 2017 Jeffrey R. Noordhoek Chief Executive Officer 695.3K 999.4K 44.0K 1.74M 0.00%
43 2017 Terry J. Heimes Chief Operating Officer 695.3K 869.1K 36.6K 1.60M 0.00%
44 2017 Michael S. Dunlap Executive Chairman 515.0K 643.8K 50.2K 1.21M 0.00%
45 2017 James D. Kruger Chief Financial Officer 515.0K 643.8K 39.6K 1.20M 0.00%
46 2017 Timothy A. Tewes President 515.0K 643.8K 20.3K 1.18M 0.00%
47 2016 Jeffrey R. Noordhoek Chief Executive Officer 675.0K 816.3K 40.5K 1.53M 0.00%
48 2016 Terry J. Heimes Chief Operating Officer 675.0K 759.4K 29.5K 1.46M 0.00%
49 2016 James D. Kruger Chief Financial Officer 500.0K 646.9K 37.0K 1.18M 0.00%
50 2016 Timothy A. Tewes President 500.0K 646.9K 32.5K 1.18M 0.00%
51 2016 Michael S. Dunlap Executive Chairman 500.0K 562.5K 27.6K 1.09M 0.00%
52 2015 Jeffrey R. Noordhoek Chief Executive Officer 625.0K 898.5K 40.4K 1.56M 0.00%
53 2015 Terry J. Heimes Chief Operating Officer 625.0K 839.9K 38.4K 1.50M 0.00%
54 2015 Timothy A. Tewes President 450.0K 646.9K 200.0K 28.4K 1.33M 15.09%
55 2015 James D. Kruger Chief Financial Officer 450.0K 604.7K 200.0K 38.5K 1.29M 15.47%
56 2015 Michael S. Dunlap Executive Chairman 500.0K 625.0K 25.8K 1.15M 0.00%
57 2014 Jeffrey R. Noordhoek Chief Executive Officer 550.0K 776.3K 65.2K 1.39M 0.00%
58 2014 Jeffrey R. Noordhoek Chief Executive Officer 550.0K 776.3K 65.2K 1.39M 0.00%
59 2014 Terry J. Heimes Chief Operating Officer 550.0K 725.6K 52.9K 1.33M 0.00%
60 2014 Terry J. Heimes Chief Operating Officer 550.0K 725.6K 52.9K 1.33M 0.00%
61 2014 Michael S. Dunlap Executive Chairman 500.0K 625.0K 27.5K 1.15M 0.00%
62 2014 Michael S. Dunlap Executive Chairman 500.0K 625.0K 27.5K 1.15M 0.00%
63 2014 James D. Kruger Chief Financial Officer 375.0K 287.5K 150.0K 20.4K 833.0K 18.01%
64 2014 Timothy A. Tewes President 375.0K 250.0K 150.0K 22.7K 797.8K 18.81%
65 2014 Timothy A. Tewes President 375.0K 250.0K 150.0K 22.7K 797.8K 18.81%
66 2013 Jeffrey R. Noordhoek Chief Executive Officer 500.0K 575.0K 37.7K 1.11M 0.00%
67 2013 Jeffrey R. Noordhoek Chief Executive Officer 500.0K 575.0K 37.7K 1.11M 0.00%
68 2013 Jeffrey R. Noordhoek President; appointed as Chief Executive Officer effective January 1, 2014 500.0K 575.0K 37.7K 1.11M 0.00%
69 2013 Terry J. Heimes Chief Operating Officer 500.0K 537.5K 33.9K 1.07M 0.00%
70 2013 Terry J. Heimes Chief Operating Officer 500.0K 537.5K 33.9K 1.07M 0.00%
71 2013 Terry J. Heimes Chief Financial Officer; appointed as Chief Operating Officer effective January 1, 2014 500.0K 537.5K 33.9K 1.07M 0.00%
72 2013 Michael S. Dunlap Executive Chairman 500.0K 500.0K 24.9K 1.02M 0.00%
73 2013 Michael S. Dunlap Chief Executive Officer; appointed as Executive Chairman effective January 1, 2014 500.0K 500.0K 24.9K 1.02M 0.00%
74 2013 Michael S. Dunlap Executive Chairman 500.0K 500.0K 24.9K 1.02M 0.00%
75 2013 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc.; appointed as President effective January 1, 2014 314.0K 215.0K 150.0K 14.5K 693.5K 21.63%
76 2013 Timothy A. Tewes President 314.0K 215.0K 150.0K 14.5K 693.5K 21.63%
77 2013 Timothy A. Tewes President 314.0K 215.0K 150.0K 14.5K 693.5K 21.63%
78 2013 William J. Munn Corporate Secretary, Chief Governance Officer, and General Counsel 245.9K 161.3K 100.0K 27.0K 534.2K 18.72%
79 2012 Terry J. Heimes Chief Operating Officer 500.0K 537.5K 38.2K 1.08M 0.00%
80 2012 Terry J. Heimes Chief Financial Officer 500.0K 537.5K 38.2K 1.08M 0.00%
81 2012 Terry J. Heimes Chief Financial Officer; appointed as Chief Operating Officer effective January 1, 2014 500.0K 537.5K 38.2K 1.08M 0.00%
82 2012 Jeffrey R. Noordhoek Chief Executive Officer 500.0K 500.0K 35.0K 1.03M 0.00%
83 2012 Jeffrey R. Noordhoek President; appointed as Chief Executive Officer effective January 1, 2014 500.0K 500.0K 35.0K 1.03M 0.00%
84 2012 Jeffrey R. Noordhoek President 500.0K 500.0K 35.0K 1.03M 0.00%
85 2012 Michael S. Dunlap Executive Chairman 500.0K 500.0K 17.7K 1.02M 0.00%
86 2012 Michael S. Dunlap Chief Executive Officer; appointed as Executive Chairman effective January 1, 2014 500.0K 500.0K 17.7K 1.02M 0.00%
87 2012 Michael S. Dunlap Chief Executive Officer 500.0K 500.0K 17.7K 1.02M 0.00%
88 2012 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc.; appointed as President effective January 1, 2014 303.9K 175.0K 150.0K 20.6K 649.5K 23.10%
89 2012 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc. 303.9K 175.0K 150.0K 20.6K 649.5K 23.10%
90 2012 Timothy A. Tewes President 303.9K 175.0K 150.0K 20.6K 649.5K 23.10%
91 2012 William J. Munn Corporate Secretary, Chief Governance Officer, and General Counsel 238.7K 134.4K 19.0K 392.1K 0.00%
92 2012 William J. Munn Executive Director, Corporate Secretary, Chief Governance Officer, and General Counsel 238.7K 134.4K 19.0K 392.1K 0.00%
93 2011 Michael S. Dunlap Chief Executive Officer 500.0K 500.0K 10.4K 1.01M 0.00%
94 2011 Michael S. Dunlap Chief Executive Officer; appointed as Executive Chairman effective January 1, 2014 500.0K 500.0K 10.4K 1.01M 0.00%
95 2011 Jeffrey R. Noordhoek President; appointed as Chief Executive Officer effective January 1, 2014 450.0K 517.5K 16.3K 983.9K 0.00%
96 2011 Jeffrey R. Noordhoek President 450.0K 517.5K 16.3K 983.9K 0.00%
97 2011 Terry J. Heimes Chief Financial Officer 450.0K 483.8K 33.5K 967.3K 0.00%
98 2011 Terry J. Heimes Chief Financial Officer; appointed as Chief Operating Officer effective January 1, 2014 450.0K 483.8K 33.5K 967.3K 0.00%
99 2011 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc. 295.0K 172.5K 11.2K 478.7K 0.00%
100 2011 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc.; appointed as President effective January 1, 2014 295.0K 172.5K 11.2K 478.7K 0.00%
101 2011 William J. Munn Corporate Secretary, Chief Governance Officer, and General Counsel 231.8K 134.4K 79.7K 17.3K 463.1K 17.20%
102 2011 William J. Munn Executive Director, Corporate Secretary, Chief Governance Officer, and General Counsel 231.8K 134.4K 79.7K 17.3K 463.1K 17.20%
103 2010 Michael S. Dunlap Chief Executive Officer 500.0K 500.0K 10.4K 1.01M 0.00%
104 2010 Terry J. Heimes Chief Financial Officer 331.5K 381.2K 33.2K 745.9K 0.00%
105 2010 Jeffrey R. Noordhoek President 331.5K 381.2K 10.3K 723.1K 0.00%
106 2010 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc. 275.8K 172.5K 21.1K 469.4K 0.00%
107 2010 William J. Munn Executive Director, Corporate Secretary, Chief Governance Officer, and General Counsel 225.0K 172.5K 10.6K 408.2K 0.00%
108 2010 William J. Munn Executive Director, Corporate Secretary, Chief Governance Officer, and General Counsel 225.0K 172.5K 10.6K 408.2K 0.00%
109 2009 Terry J. Heimes Chief Financial Officer 325.0K 325.0K 33.4K 683.5K 0.00%
110 2009 Jeffrey R. Noordhoek President 325.0K 325.0K 10.3K 660.4K 0.00%
111 2009 Michael S. Dunlap Chief Executive Officer 500.0K 10.3K 510.3K 0.00%
112 2009 Timothy A. Tewes President and Chief Executive 260.0K 120.0K 26.9K 406.9K 0.00%
113 2009 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, a subsidiary of Nelnet, Inc. 260.0K 120.0K 26.9K 406.9K 0.00%
114 2009 Todd M. Eicher 215.0K 120.0K 7.0K 342.0K 0.00%
115 2008 Michael S. Dunlap Chief Executive Officer 500.0K 10.3K 510.3K 0.00%
116 2008 Michael S. Dunlap Chief Executive Officer Chief Financial Officer President Former Chief Operating Officer, Nelnet Education Services, 500.0K 9.7K 509.7K 0.00%
117 2008 Timothy A. Tewes President and Chief Executive Officer, Nelnet Business Solutions, 260.0K 150.0K 26.1K 436.1K 0.00%
118 2008 Timothy A. Tewes President and Chief Executive 260.0K 150.0K 26.1K 436.1K 0.00%
119 2008 Terry J. Heimes Chief Financial Officer 325.0K 50.0K 20.0K 395.0K 0.00%
120 2008 Jeffrey R. Noordhoek President 325.0K 50.0K 9.7K 384.7K 0.00%
121 2007 David A. Bottegal (h) Former Chief Executive Officer, Nelnet Education Services, 305.8K 100.0K 309.5K 715.3K 0.00%
122 2007 Michael S. Dunlap Chief Executive Officer Chief Financial Officer President Former Chief Operating Officer, Nelnet Education Services, 500.0K 175.0K 9.5K 684.5K 0.00%
123 2007 Michael S. Dunlap Chief Executive Officer 500.0K 175.0K 9.5K 684.5K 0.00%
124 2007 Terry J. Heimes Chief Financial Officer 325.0K 100.0K 9.5K 434.5K 0.00%
125 2007 Jeffrey R. Noordhoek President 275.0K 100.0K 9.5K 384.5K 0.00%
126 2007 Jeffery R. Noordhoek President 275.0K 100.0K 9.5K 384.5K 0.00%
127 2007 Matthew D. Hall Chief Operating Officer, Nelnet Education Services, 278.3K 65.0K 8.7K 352.0K 0.00%
128 2007 Stephen F. Butterfield (f) Former Co-Chief Executive Officer 216.9K 9.5K 226.5K 0.00%
129 2006 Michael S. Dunlap Co-Chief Executive Officer 500.0K 612.5K 1.12M 0.00%
130 2006 Michael S. Dunlap Chief Executive Officer Chief Financial Officer President Former Chief Operating Officer, Nelnet Education Services, 500.0K 612.5K 9.3K 1.12M 0.00%
131 2006 Stephen F. Butterfield (f) Former Co-Chief Executive Officer 500.0K 612.5K 9.3K 1.12M 0.00%
132 2006 Michael S. Dunlap Chief Executive Officer 500.0K 612.5K 9.3K 1.12M 0.00%
133 2006 Stephen F. Butterfield(f) Co-Chief Executive Officer 500.0K 612.5K 1.12M 0.00%
134 2006 David J. Byrnes(g) Chief Executive Officer, Nelnet Enrollment Solutions, 500.0K 425.0K 975.0K 0.00%
135 2006 Terry J. Heimes Chief Financial Officer 325.0K 200.0K 9.3K 534.3K 0.00%
136 2006 Jeffery R. Noordhoek President 275.0K 225.0K 9.3K 509.3K 0.00%
137 2006 Matthew D. Hall Chief Operating Officer, Nelnet Education Services, 280.4K 130.0K 84.7K 9.3K 504.5K 16.79%
138 2006 David A. Bottegal (h) Former Chief Executive Officer, Nelnet Education Services, 306.1K 130.0K 9.3K 445.4K 0.00%
139 2005 Michael S. Dunlap Co-Chief Executive Officer Executive Director and Chief Financial Officer Chief Executive Officer of President Chief Operating Officer of 500.6K 1.14M 8.9K 1.65M 0.00%
140 2005 Michael S. Dunlap Chief Executive Officer 500.6K 1.14M 8.9K 1.65M 0.00%
141 2005 Michael S. Dunlap Co-Chief Executive Officer 500.6K 1.14M 1.65M 0.00%
142 2005 Stephen F. Butterfield(f) Co-Chief Executive Officer 500.6K 1.14M 1.65M 0.00%
143 2005 Stephen F. Butterfield (f) Former Co-Chief Executive Officer 500.6K 1.14M 8.9K 1.65M 0.00%
144 2005 David J. Byrnes(g) Chief Executive Officer, Nelnet Enrollment Solutions, 291.7K 225.0K 524.9K 0.00%
145 2005 Terry J. Heimes Chief Financial Officer 300.6K 192.0K 8.9K 501.5K 0.00%
146 2005 David A. Bottegal (h) Former Chief Executive Officer, Nelnet Education Services, 255.2K 192.0K 8.9K 456.1K 0.00%
147 2005 Jeffery R. Noordhoek President 230.6K 192.0K 8.9K 431.6K 0.00%
148 2005 Matthew D. Hall Chief Operating Officer, Nelnet Education Services, 229.9K 192.0K 8.9K 430.9K 0.00%
149 2004 Stephen F. Butterfield Co-Chief Executive Officer 1.00M 733.8K 1.73M 0.00%
150 2004 Michael S. Dunlap Co-Chief Executive Officer Executive Director and Chief Financial Officer Chief Executive Officer of President Chief Operating Officer of 323.5K 733.8K 8.9K 1.07M 0.00%
151 2004 Michael S. Dunlap Co-Chief Executive Officer 323.5K 733.8K 1.06M 0.00%
152 2004 Don R. Bouc(f) President Emeritus 350.0K 500.0K 850.0K 0.00%
153 2004 Matthew D. Hall Chief Operating Officer, Nelnet Education Services, 228.4K 352.8K 590.0K 0.00%
154 2004 Raymond J. Ciarvella Executive Director and Chief Information Officer 233.0K 351.9K 584.9K 0.00%
155 2004 David A. Bottegal Executive Director and Chief Marketing Officer 232.0K 352.8K 584.8K 0.00%
156 2004 Matthew D. Hall Executive Director 228.4K 352.8K 581.2K 0.00%
157 2004 David J. Byrnes(g) Chief Executive Officer, Nelnet Enrollment Solutions,
158 2003 Raymond J. Ciarvella Executive Director and Chief Information Officer 224.7K 1.11M 1.33M 0.00%
159 2003 Stephen F. Butterfield Co-Chief Executive Officer 713.5K 389.0K 1.10M 0.00%
160 2003 Michael S. Dunlap Co-Chief Executive Officer Executive Director and Chief Financial Officer Chief Executive Officer of President Chief Operating Officer of 713.5K 297.3K 8.2K 1.02M 0.00%
161 2003 Michael S. Dunlap Co-Chief Executive Officer 713.5K 297.3K 1.01M 0.00%
162 2003 Richard H. Pierce Executive Director 383.4K 558.5K 8.6K 950.5K 0.00%
163 2003 Don R. Bouc(d) President 485.7K 398.4K 8.6K 892.6K 0.00%
164 2003 Don R. Bouc(f) President Emeritus 485.7K 397.1K 882.8K 0.00%
165 2003 Terry J. Heimes Chief Financial Officer 220.0K 550.0K 8.4K 778.4K 0.00%
166 2003 David A. Bottegal Executive Director and Chief Marketing Officer 220.0K 142.0K 362.0K 0.00%
167 2003 Matthew D. Hall Executive Director 190.0K 142.0K 332.0K 0.00%
168 2002 Stephen F. Butterfield Co-Chief Executive Officer 450.0K 675.2K 2.6K 1.13M 0.00%
169 2002 Michael S. Dunlap Co-Chief Executive Officer 450.0K 675.2K 2.6K 1.13M 0.00%
170 2002 Richard H. Pierce Executive Director 380.0K 700.0K 6.1K 1.09M 0.00%
171 2002 Raymond J. Ciarvella Executive Director and Chief Information Officer 240.0K 510.0K 750.0K 0.00%
172 2002 Don R. Bouc(d) President 700.0K 1.8K 701.8K 0.00%
173 2002 Terry J. Heimes Chief Financial Officer 179.2K 150.0K 5.2K 334.4K 0.00%
174 2002 David A. Bottegal Executive Director and Chief Marketing Officer 179.2K 150.0K 329.2K 0.00%
CEO compensation breakdown

Proxy statements

Proxy statements (DEF 14A)
Filing date Form type Filing
2026-04-02 DEFA14A
2026-04-02 DEF 14A
2025-04-03 DEFA14A
2025-04-03 DEF 14A

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-07 8-K
2026-05-07 10-Q
2026-05-04 4
2026-04-27 4
2026-04-17 4
2026-04-02 DEFA14A
2026-04-02 DEF 14A
2026-04-02 ARS
2026-04-02 8-K
2026-04-01 4

Executive team

NameTitleCompensationGender
James D. Kruger Chief Financial Officer 2M male
Timothy Alan Tewes President 2M male
Terry J. Heimes Chief Operating Officer 2M male
Jeffrey R. Noordhoek Chief Executive Officer 2M male
Deeann Wenger President of Nelnet Business Services 1M female
Michael Sullivan Dunlap Executive Chairman of the Board 894.0K male
William J. Munn Corporate Secretary, Chief Governance Officer & General Counsel 434.2K male
Matthew W. Dunlap Chief Business Development Officer, President of Nelnet Financial Services & Director 184.0K male
Phil Morgan Director of Investor Relations male
Jackie Strohbehn President of Nelnet Campus Commerce female
Emily Olinger Chief People Services Officer female
ESG Rating
B
FINANCIAL - CREDIT SERVICES
2024
E (Environmental)
71.6 / 60.0
Company / Sector avg.
S (Social)
70.2 / 63.1
Company / Sector avg.
G (Governance)
65.8 / 59.1
Company / Sector avg.
ESG Total
69.2 / 60.7
Company / Sector avg.
ESG Score History FINANCIAL - CREDIT SERVICES
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits