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Nelnet, Inc. 2025-2026 Proxy Voting Records

Compiled from SEC Form N-PX filings and Nelnet, Inc.’s Form 8-K, filed May 18, 2026 (Item 5.07 on EDGAR). Page generated October 18, 2026.

  • 6Ballot items
  • 237Asset managers
  • 1,516Fund votes
  • May 14, 2026Meeting date

Results at a glance

Meeting of May 14, 2026: 6 items on Nelnet, Inc.’s Form 8-K, filed May 18, 2026: 3 elected · 3 approved.

Material dissent

None.

Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided

Proxy season: 2023-2024 2024-2025 2025-2026

Explore Nelnet, Inc. in the interactive database Compare manager voting policies

Official 2025-2026 meeting results reported by Nelnet, Inc.

These tallies are Nelnet, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 18, 2026 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

Nelnet, Inc. — official shareholder meeting results, meeting held May 14, 2026
Ballot itemForAgainst AbstainWithheldBroker non-votesSupport (of votes cast)Reported outcomeVoting standard
Elect Director: Kathleen A. Farrell 119,552,8374,143,2286,492 --1,665,285 97%Elected—
Elect Director: David S. Graff 123,079,587615,7107,260 --1,665,285 99.5%Elected—
Elect Director: Thomas E. Henning 123,276,581418,6847,292 --1,665,285 99.6%Elected—
2. Ratification of the appointment of KPMG LLP 125,269,42579,20919,208 ---- 99.9%Approved—
3. Approval of amendments to the Directors Stock Compensation Plan 123,605,33567,90429,318 --1,665,285 99.9%Approved—
4. Advisory vote on executive compensation 123,485,112184,56632,879 --1,665,285 99.8%Approved—

Source: Nelnet, Inc., Form 8-K, filed with the SEC on May 18, 2026 — read the filing on EDGAR.

How asset managers voted at the Nelnet, Inc. 2025-2026 meeting

Each item below shows how the 237 asset managers that disclosed a Nelnet, Inc. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.

1. Elect Director: Kathleen A. Farrell

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 4 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%
FOR: 119,552,837AGAINST: 4,143,228
Details: description as filed, official tally, votes by 68 asset managers

Description as filed by funds: Election of three Class III directors for three-year terms: Kathleen A. Farrell

Nelnet, Inc.’s own tally for this item (“Elect Director: Kathleen A. Farrell”): 119,552,837 for, 4,143,228 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Our shareholders elected the following three Class III directors to hold office until the 2029 annual meeting of shareholders and until their successors have been duly elected or appointed.”
Support: 97% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 68 asset managers below reported 2,258,736 for, 1,516,571 against.

FORAGAINST
FOR: 2,258,736AGAINST: 1,516,571
Largest asset managers voting on “Election of three Class III directors for three-year terms: Kathleen A. Farrell” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,246,0031,732 00For
BlackRock454,1200 00For
Dimensional0432,930 00Against
American Century0318,439 00Against
Fidelity3,760295,718 00Against
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab0161,760 00Against
Northern Trust047,376 00Against
WisdomTree040,348 00Against
Equitable18,37412,107 00Mixed
TIAA026,926 00Against
First Trust023,663 00Against
AMERICAN BEACON FUNDS021,570 00Against
JAMES ADVANTAGE FUNDS020,646 00Against
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI014,379 00Against
State Street3612,120 00Against
Lincoln Financial011,831 00Against
Invesco10,9630 00For
Bridge Builder Trust5,7534,289 00Mixed
John Hancock010,015 00Against
Pacific Life5,0484,687 00Mixed
Jackson National09,428 00Against
Global X08,525 00Against

Showing the 25 largest of 68 asset managers. See all 68 in the interactive database.

2. Elect Director: David S. Graff

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 4 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%
FOR: 123,079,587AGAINST: 615,710
Details: description as filed, official tally, votes by 68 asset managers

Description as filed by funds: Election of three Class III directors for three-year terms: David S. Graff

Nelnet, Inc.’s own tally for this item (“Elect Director: David S. Graff”): 123,079,587 for, 615,710 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Our shareholders elected the following three Class III directors to hold office until the 2029 annual meeting of shareholders and until their successors have been duly elected or appointed.”
Support: 99.5% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 68 asset managers below reported 3,569,616 for, 205,690 against.

FOR
FOR: 3,569,616AGAINST: 205,690
Largest asset managers voting on “Election of three Class III directors for three-year terms: David S. Graff” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,246,811924 00For
BlackRock454,1200 00For
Dimensional432,9300 00For
American Century318,4390 00For
Fidelity299,4780 00For
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab0161,760 00Against
Northern Trust47,3760 00For
WisdomTree40,3480 00For
Equitable18,37412,107 00Mixed
TIAA26,9260 00For
First Trust23,6630 00For
AMERICAN BEACON FUNDS21,5700 00For
JAMES ADVANTAGE FUNDS20,6460 00For
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI014,379 00Against
State Street12,1515 00For
Lincoln Financial11,8310 00For
Invesco10,9630 00For
Bridge Builder Trust10,0420 00For
John Hancock10,0150 00For
Pacific Life9,7350 00For
Jackson National9,4280 00For
Global X08,525 00Against

Showing the 25 largest of 68 asset managers. See all 68 in the interactive database.

3. Elect Director: Thomas E. Henning

Official resultDIRECTOR ELECTIONSReported outcome: Elected

Combines 4 wordings of this item as funds reported it.

99.6% Majority: yes · of votes cast

FOR 99.6%
FOR: 123,276,581AGAINST: 418,684
Details: description as filed, official tally, votes by 68 asset managers

Description as filed by funds: Election of three Class III directors for three-year terms: Thomas E. Henning

Nelnet, Inc.’s own tally for this item (“Elect Director: Thomas E. Henning”): 123,276,581 for, 418,684 against, per its Form 8-K filed May 18, 2026 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.

Reported outcome: Elected, in the filing’s own words: “Our shareholders elected the following three Class III directors to hold office until the 2029 annual meeting of shareholders and until their successors have been duly elected or appointed.”
Support: 99.6% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 68 asset managers below reported 3,737,240 for, 38,066 against.

FOR
FOR: 3,737,240AGAINST: 38,066
Largest asset managers voting on “Election of three Class III directors for three-year terms: Thomas E. Henning” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,246,811924 00For
BlackRock454,1200 00For
Dimensional432,9300 00For
American Century318,4390 00For
Fidelity299,4780 00For
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab161,7600 00For
Northern Trust47,3760 00For
WisdomTree40,3480 00For
Equitable18,37412,107 00Mixed
TIAA26,9260 00For
First Trust23,6630 00For
AMERICAN BEACON FUNDS21,5700 00For
JAMES ADVANTAGE FUNDS20,6460 00For
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI14,3790 00For
State Street6512,091 00Against
Lincoln Financial4,1937,638 00Mixed
Invesco10,9630 00For
Bridge Builder Trust10,0420 00For
John Hancock10,0150 00For
Pacific Life9,7350 00For
Jackson National9,4280 00For
Global X8,5250 00For

Showing the 25 largest of 68 asset managers. See all 68 in the interactive database.

4. 3. Approval of amendments to the Directors Stock Compensation Plan

Official resultCOMPENSATIONReported outcome: Approved

Combines 4 wordings of this item as funds reported it.

99.9% Approved · of votes cast

FOR 99.9%
FOR: 123,605,335AGAINST: 67,904
Details: description as filed, official tally, votes by 73 asset managers

Description as filed by funds: APPROVAL OF AMENDMENTS TO THE DIRECTORS STOCK COMPENSATION PLAN.

Nelnet, Inc.’s own tally for this item (“3. Approval of amendments to the Directors Stock Compensation Plan”): 123,605,335 for, 67,904 against — passed, per its Form 8-K filed May 18, 2026 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Our shareholders approved amendments to the Directors Stock Compensation Plan to allow directors of Nelnet Bank Inc. and it successors to participate in the plan.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 73 asset managers below reported 3,784,533 for.

FOR
FOR: 3,784,533
Largest asset managers voting on “APPROVAL OF AMENDMENTS TO THE DIRECTORS STOCK COMPENSATION PLAN.” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,247,7360 00For
BlackRock454,1200 00For
Dimensional432,9300 00For
American Century318,4390 00For
Fidelity299,4780 00For
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab161,7600 00For
Northern Trust47,3760 00For
WisdomTree40,3480 00For
Equitable30,4810 00For
TIAA26,9260 00For
First Trust23,6630 00For
AMERICAN BEACON FUNDS21,5700 00For
JAMES ADVANTAGE FUNDS20,6460 00For
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI14,3790 00For
State Street12,1560 00For
Lincoln Financial11,8310 00For
Invesco10,9630 00For
Bridge Builder Trust10,0420 00For
John Hancock10,0150 00For
Pacific Life9,7350 00For
Jackson National9,4280 00For
Global X8,5250 00For

Showing the 25 largest of 73 asset managers. See all 73 in the interactive database.

5. 4. Advisory vote on executive compensation

Official resultFund totals may overlapSECTION 14A SAY-ON-PAY VOTESReported outcome: Approved

Combines 8 wordings of this item as funds reported it.

99.8% Approved · of votes cast

FOR 99.8%
FOR: 123,485,112AGAINST: 184,566
Details: description as filed, official tally, votes by 236 asset managers

Description as filed by funds: Advisory approval of the Company's executive compensation.

Nelnet, Inc.’s own tally for this item (“4. Advisory vote on executive compensation”): 123,485,112 for, 184,566 against — passed, per its Form 8-K filed May 18, 2026 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Our shareholders approved, by an advisory vote, the compensation of our named executive officers as disclosed in the proxy statement for the annual meeting.”
Support: 99.8% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).

Fund voting reports: 67 asset managers voting on “Advisory approval of the Company's executive compensation.” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,247,7360 00For
BlackRock454,1200 00For
Dimensional432,9300 00For
American Century318,4390 00For
Fidelity299,4780 00For
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab161,7600 00For
Northern Trust47,3760 00For
WisdomTree040,348 00Against
Equitable30,4810 00For
TIAA26,9260 00For
First Trust23,6630 00For
AMERICAN BEACON FUNDS21,5700 00For
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI12,4791,900 00Mixed
State Street12,1524 00For
Lincoln Financial11,8310 00For
Invesco10,9630 00For
Bridge Builder Trust10,0420 00For
John Hancock10,0150 00For
Pacific Life9,7350 00For
Jackson National6,2523,176 00Mixed
Global X8,5250 00For
TIMOTHY PLAN7,5320 00For

Fund voting reports, all 67 managers: 3,708,603 for, 46,057 against. Showing the 25 largest; see all in the interactive database.

Institutional-manager reports: 189 asset managers voting on “Advisory approval of the Company's executive compensation.” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
MAGNOLIA GROUP, LLC1,668,9760 00For
UNION BANK & TRUST CO /NE/1,573,6660 00For
BlackRock450,2358,616 00For
GEODE CAPITAL MANAGEMENT, LLC343,5300 00For
American Century330,9530 00For
State Street267,573473 00For
First Pacific Advisors, LP213,0430 00For
Dimensional167,1720 00For
Empyrean Capital Partners, LP164,2390 00For
Charles Schwab162,1210 00For
Sycale Advisors (NY) LLC141,2210 00For
QVT Financial LP126,9640 00For
Vanguard109,6710 00For
BAR HARBOR WEALTH MANAGEMENT108,6960 00For
Northern Trust106,9820 00For
Crawford Fund Management, LLC67,7160 00For
LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE65,8670 00For
Bandera Partners LLC60,0590 00For
MELLON INVESTMENTS Corp048,526 00Against
HighTower Advisors, LLC37,9860 00For
Corient Private Wealth LP37,4310 00For
Brandywine Global Investment Management, LLC30,0340 00For
T. Rowe Price29,5800 00For
DE Shaw28,3530 00For
Nuveen28,2830 00For

Institutional-manager reports, all 189 managers: 6,740,409 for, 116,448 against, 17,351 abstained, 103 not voted. Showing the 25 largest; see all in the interactive database.

6. 2. Ratification of the appointment of KPMG LLP

Official resultAUDIT-RELATEDReported outcome: Approved

Combines 2 wordings of this item as funds reported it.

99.9% Approved · of votes cast

FOR 99.9%
FOR: 125,269,425AGAINST: 79,209
Details: description as filed, official tally, votes by 68 asset managers

Description as filed by funds: RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2026.

Nelnet, Inc.’s own tally for this item (“2. Ratification of the appointment of KPMG LLP”): 125,269,425 for, 79,209 against — passed, per its Form 8-K filed May 18, 2026 (Item 5.07).

Reported outcome: Approved, in the filing’s own words: “Our shareholders ratified the appointment of KPMG LLP as our independent registered public accounting firm for the year ending December 31, 2026.”
Support: 99.9% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.

The 68 asset managers below reported 3,772,411 for, 2,896 against.

FOR
FOR: 3,772,411AGAINST: 2,896
Largest asset managers voting on “RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2026.” at Nelnet, Inc., 2025-2026
Asset managerForAgainst AbstainWithheldVote
Vanguard1,246,813922 00For
BlackRock454,1200 00For
Dimensional432,9300 00For
American Century318,4390 00For
Fidelity299,4780 00For
GENERAL AMERICAN INVESTORS CO INC239,0260 00For
Investment Managers Series Trust III213,0430 00For
Charles Schwab161,7600 00For
Northern Trust47,3760 00For
WisdomTree40,3480 00For
Equitable30,4810 00For
TIAA26,9260 00For
First Trust23,6630 00For
AMERICAN BEACON FUNDS21,5700 00For
JAMES ADVANTAGE FUNDS20,6460 00For
QUANTITATIVE MASTER SERIES LLC18,2190 00For
SEI12,4791,900 00Mixed
State Street12,1542 00For
Lincoln Financial11,8310 00For
Invesco10,9630 00For
Bridge Builder Trust10,0420 00For
John Hancock10,0150 00For
Pacific Life9,7350 00For
Jackson National9,4280 00For
Global X8,5250 00For

Showing the 25 largest of 68 asset managers. See all 68 in the interactive database.

Largest Nelnet, Inc. shareholders voting in 2025-2026

Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 36,076,912 shares outstanding at the time of that meeting.

Fund voting reports: top Nelnet, Inc. shareholders by shares voted on “APPROVAL OF AMENDMENTS TO THE DIRECTORS STOCK COMPENSATION PLAN.”, 2025-2026
#Asset manager % of shares outstanding
1Vanguard 3.46%
2BlackRock 1.26%
3Dimensional 1.20%
4American Century 0.88%
5Fidelity 0.83%
6GENERAL AMERICAN INVESTORS CO INC 0.66%
7Investment Managers Series Trust III 0.59%
8Charles Schwab 0.45%
9Northern Trust 0.13%
10WisdomTree 0.11%
Institutional-manager reports: top Nelnet, Inc. shareholders by shares voted on “Advisory approval of the Company's executive compensation.”, 2025-2026
#Asset manager % of shares outstanding
1MAGNOLIA GROUP, LLC 4.63%
2UNION BANK & TRUST CO /NE/ 4.36%
3BlackRock 1.27%
4GEODE CAPITAL MANAGEMENT, LLC 0.95%
5American Century 0.92%
6State Street 0.74%
7First Pacific Advisors, LP 0.59%
8Dimensional 0.46%
9Empyrean Capital Partners, LP 0.46%
10Charles Schwab 0.45%

Reported Nelnet, Inc. holdings and ownership

As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.

Nelnet, Inc. holdings and ownership disclosed for the 2025-2026 proxy season
Holder % outstanding Disclosure
Whitetail Rock Capital Management, LLC 19.08% 13G
Angela L. Muhleisen 11.37% DEF14A
Michael S. Dunlap 9.01% DEF14A
Dimensional Fund Advisors LP 5.76% DEF14A
Deborah Bartels 4.97% DEF14A
Dunlap Holdings, LLC 4.43% DEF14A
Union Financial Services, Inc. 4.40% DEF14A
Magnolia Capital Fund, LP 4.14% 13G
Union Bank and Trust Company 4.06% DEF14A
The Vanguard Group 3.74% DEF14A

Percentages above are of 36,076,912 shares outstanding, as reported by Nelnet, Inc. on its Form 10-Q dated March 31, 2026 (see the filing on EDGAR). This is the count contemporaneous with the 2025-2026 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Nelnet, Inc.’s 10-Q dated March 31, 2026. This page is a static snapshot rebuilt weekly on October 18, 2026; a live search always shows the current data.

At Nelnet, Inc.'s shareholder meeting held May 14, 2026, in the 2025-2026 proxy season, 237 asset managers reported how they voted on 6 ballot items in their SEC Form N-PX filings, covering 1,516 separate fund positions. On the most widely held item on that ballot — Advisory approval of the Company's executive compensation. — Nelnet, Inc.'s filing reports the proposal as approved, with 99.8% support of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). Source: Nelnet, Inc.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 18, 2026.

Nelnet, Inc. proxy season coverage: 2023-2024 · 2024-2025 · 2025-2026 (this page).

Download data (CSV): ballot items · votes by manager · column guide.