Magnolia Capital Group Reduces Stake to 5.9%, Ceases 13D Filing Requirement
NNI sits 15% above its 52-week low of $112.16.
Summary
Magnolia Capital Group has reduced its stake in Nelnet to 5.9% and will no longer file Schedule 13D, signaling a shift from an activist role.
Key Events · Ownership and Investor Activity · NNI
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Stake Reduction
Magnolia Capital Fund distributed 175,827 shares of Nelnet Class A Common Stock to limited partners in partial satisfaction of withdrawal requests.
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New Ownership Level
The reporting persons now collectively beneficially own 1,502,703 shares, representing 5.9% of the outstanding Class A Common Stock.
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Cessation of 13D Filing
The group will no longer be required to file Schedule 13D, indicating a change in their investment intent and a move away from an activist position.
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Director Resignation Context
This follows Adam K. Peterson's resignation from Nelnet's Board of Directors on March 23, 2026, which was previously disclosed.
Analysis · NNI · Finance
Magnolia Capital Fund, along with The Magnolia Group and Adam K. Peterson, reduced their collective beneficial ownership in Nelnet to 5.9% through in-kind distributions to withdrawing limited partners. This amendment also confirms the group will no longer file Schedule 13D, indicating a shift from an activist stance following Adam Peterson's resignation from the board in March. This change in investor activity suggests a reduced influence from this shareholder group.
At the time of this filing, NNI was trading at $129.03 on NYSE in the Finance sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $112.16 to $144.38. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.