Nelnet, Inc.
US ˙ NYSE ˙ US64031N1081

SecurityNNI / Nelnet, Inc.
InstitutionShell Asset Management Co
Latest Disclosed Ownership572 shares
Latest Disclosed Value $ 72
Shell Asset Management Co reports 60.42% decrease in ownership of NNI / Nelnet, Inc.

On November 7, 2025 - Shell Asset Management Co filed a 13F-HR form disclosing ownership of 572 shares of Nelnet, Inc. (US:NNI) valued at $71,717 USD as of September 30, 2025. The entity filed a previous 13F-HR on July 23, 2025 disclosing 1,445 shares of Nelnet, Inc.. The current value of the position is $73,839 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2025-11-07 2025-09-30 13F NELNET CL A 64031N108 572 -873 -60.42 0 0.0072
2025-07-23 2025-06-30 13F NELNET CL A 64031N108 1,445 -329 -18.55 0 0.0060
2025-05-14 2025-03-31 13F NELNET CL A 64031N108 1,774 -76 -4.11 0 0.0094
2025-02-14 2024-12-31 13F NELNET CL A 64031N108 1,850 -7 -0.38 0 0.0087
2024-11-07 2024-09-30 13F NELNET CL A 64031N108 1,857 -107 -5.45 0 0.0092
2024-07-25 2024-03-31 13F NELNET CL A 64031N108 1,964 -200 -9.24 0 0.0090
2024-02-14 2023-12-31 13F NELNET CL A 64031N108 2,164 -646 -22.99 0 0.0088
2023-11-08 2023-09-30 13F NELNET CL A 64031N108 2,810 -44 -1.54 0 0.0104
2023-07-28 2023-06-30 13F NELNET CL A 64031N108 2,854 -2,748 -49.05 0 0.0108
2023-05-15 2023-03-31 13F NELNET CL A 64031N108 5,602 -20 -0.36 1 0.0214
2023-02-07 2022-12-31 13F NELNET CL A 64031N108 5,622 -1,037 -15.57 1 -100.00 0.0223
2022-11-14 2022-09-30 13F NELNET CL A 64031N108 6,659 -1,686 -20.20 527 -25.88 0.0205
2022-08-09 2022-06-30 13F NELNET CL A 64031N108 8,345 48 0.58 711 0.85 0.0210
2022-05-04 2022-03-31 13F NELNET CL A 64031N108 8,297 -1,233 -12.94 705 -24.27 0.0166
2022-02-09 2021-12-31 13F NELNET CL A 64031N108 9,530 32 0.34 931 23.64 0.0191
2021-11-04 2021-09-30 13F NELNET CL A 64031N108 9,498 -350 -3.55 753 1.62 0.0169
2021-08-12 2021-06-30 13F NELNET CL A 64031N108 9,848 550 5.92 741 9.62 0.0144
2021-05-10 2021-03-31 13F NELNET CL A 64031N108 9,298 -70 -0.75 676 1.35 0.0135
2021-02-16 2020-12-31 13F NELNET CL A 64031N108 9,368 0 0.00 667 18.26 0.0138
2020-11-13 2020-09-30 13F NELNET CL A 64031N108 9,368 0 0.00 564 26.17 0.0131
2020-08-10 2020-06-30 13F NELNET CL A 64031N108 9,368 -54 -0.57 447 4.44 0.0112
2020-05-11 2020-03-31 13F NELNET CL A 64031N108 9,422 -150 -1.57 428 -23.16 0.0119
2020-02-13 2019-12-31 13F NELNET CL A 64031N108 9,572 -7,557 -44.12 557 -48.85 0.0120
2019-11-12 2019-09-30 13F NELNET CL A 64031N108 17,129 -133 -0.77 1,089 6.56 0.0249
2019-08-12 2019-06-30 13F NELNET CL A 64031N108 17,262 -13,601 -44.07 1,022 -39.88 0.0226
2019-05-09 2019-03-31 13F NELNET CL A 64031N108 30,863 0 0.00 1,700 5.26 0.0375
2019-02-13 2018-12-31 13F NELNET CL A 64031N108 30,863 -2,600 -7.77 1,615 -15.58 0.0403
2018-11-13 2018-09-30 13F NELNET CL A 64031N108 33,463 -9,642 -22.37 1,913 -24.03 0.0378
2018-08-10 2018-06-30 13F NELNET CL A 64031N108 43,105 -2,329 -5.13 2,518 5.75 0.0516
2018-05-14 2018-03-31 13F NELNET CL A 64031N108 45,434 0 0.00 2,381 -4.34 0.0474
2018-02-09 2017-12-31 13F NELNET CL A 64031N108 45,434 0 0.00 2,489 8.50 0.0494
2017-10-20 2017-09-30 13F/A-1 NELNET CL A 64031N108 45,434 -1,200 -2.57 2,294 4.65 0.0510
2017-10-18 2017-09-30 13F NELNET CL A 64031N108 98,947 52,313 4,264
2017-07-26 2017-06-30 13F NELNET CL A 64031N108 46,634 0 0.00 2,192 7.19 0.0544
2017-04-26 2017-03-31 13F NELNET CL A 64031N108 46,634 -3,263 -6.54 2,045 -19.23 0.0522
2017-01-10 2016-12-31 13F NELNET CL A 64031N108 49,897 -414 -0.82 2,532 24.67 0.0685
2016-10-28 2016-09-30 13F NELNET CL A 64031N108 50,311 -32,846 -39.50 2,031 -29.72 0.0486
2016-07-25 2016-06-30 13F NELNET CL A 64031N108 83,157 -4,747 -5.40 2,890 -16.50 0.0670
2016-05-11 2016-03-31 13F NELNET CL A 64031N108 87,904 -5,273 -5.66 3,461 10.65 0.0829
2016-02-05 2015-12-31 13F NELNET CL A 64031N108 93,177 -5,770 -5.83 3,128 -26.64 0.0739
2015-10-13 2015-09-30 13F NELNET CL A 64031N108 98,947 4,558 4.83 4,264 4.31 0.0676
2015-07-30 2015-06-30 13F NELNET CL A 64031N108 94,389 -4,259 -4.32 4,088 -12.43 0.0818
2015-05-07 2015-03-31 13F NELNET CL A 64031N108 98,648 98,648 0.00 4,668 0.0813
2015-02-04 2014-12-31 13F NELNET CL A 64031N108 0 -98,947 -100.00 0 -100.00
2014-10-24 2014-09-30 13F NELNET CL A 64031N108 98,947 9,126 10.16 4,264 14.59 0.0662
2014-08-08 2014-06-30 13F NELNET CL A 64031N108 89,821 -1,047 -1.15 3,721 0.11 0.0573
2014-05-07 2014-03-31 13F NELNET CL A 64031N108 90,868 -378 -0.41 3,717 -3.33 0.0618
2014-02-03 2013-12-31 13F/A-1 NELNET CL A 64031N108 91,246 14,780 19.33 3,845 30.78 0.0654
2014-01-27 2013-12-31 13F NELNET CL A 64031N108 91,246 3,845
2013-10-28 2013-09-30 13F NELNET CL A 64031N108 76,466 0 0.00 2,940 6.52 0.0540
2013-08-01 2013-06-30 13F NELNET CL A 64031N108 76,466 76,466 2,760 0.0525
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.