Home › Companies › Nelnet, Inc. › 2024-2025
Compiled from SEC Form N-PX filings and Nelnet, Inc.’s Form 8-K, filed 2025-05-20 (Item 5.07 on EDGAR). Page generated 02 October 2026.
Explore Nelnet, Inc. in the interactive database Compare manager voting policies
These tallies are Nelnet, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-20 (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.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Outcome |
|---|---|---|---|---|---|---|
| Elect Director: Matthew W. Dunlap | 126,520,873 | 456,027 | 6,970 | -- | 1,311,468 | Majority: yes |
| Elect Director: Adam K. Peterson | 125,579,487 | 1,385,447 | 18,936 | -- | 1,311,468 | Majority: yes |
| Elect Director: Kimberly K. Rath | 122,794,787 | 4,172,301 | 16,782 | -- | 1,311,468 | Majority: yes |
| Proposal 2: Ratification of the appointment of KPMG LLP | 128,155,793 | 125,351 | 14,194 | -- | -- | Majority: yes |
| Proposal 3: Advisory vote on executive compensation | 126,823,158 | 123,560 | 37,152 | -- | 1,311,468 | Majority: yes |
Source: Nelnet, Inc., Form 8-K, filed with the SEC on 2025-05-20 — read the filing on EDGAR.
Each item below shows how the 206 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.
Combines 6 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Nelnet, Inc.’s own tally for this item (“Proposal 3: Advisory vote on executive compensation”): 126,823,158 for, 123,560 against, per its Form 8-K filed 2025-05-20 (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. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 204 asset managers below cast 99.4% of the shares they voted on this item FOR (12,140,956 for, 69,842 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 1,954,907 | 0 | 0 | 0 | For |
| MAGNOLIA GROUP, LLC | 1,900,000 | 0 | 0 | 0 | For |
| Vanguard | 1,514,570 | 0 | 0 | 0 | For |
| UNION BANK & TRUST CO /NE/ | 1,502,702 | 0 | 0 | 0 | For |
| BlackRock | 1,043,465 | 0 | 0 | 0 | For |
| Charles Schwab | 392,933 | 0 | 0 | 0 | For |
| GEODE CAPITAL MANAGEMENT, LLC | 378,820 | 0 | 0 | 0 | For |
| State Street | 364,215 | 4,790 | 0 | 0 | For |
| Fidelity | 341,520 | 0 | 0 | 0 | For |
| Madison Avenue Partners, LP | 294,023 | 0 | 0 | 0 | For |
| GENERAL AMERICAN INVESTORS CO INC | 243,415 | 0 | 0 | 0 | For |
| American Century | 230,258 | 0 | 0 | 0 | For |
| Sycale Advisors (NY) LLC | 220,471 | 0 | 0 | 0 | For |
| Northern Trust | 198,364 | 643 | 0 | 0 | For |
| QVT Financial LP | 163,431 | 0 | 0 | 0 | For |
| Bandera Partners LLC | 127,000 | 0 | 0 | 0 | For |
| JPMorgan | 120,273 | 0 | 0 | 0 | For |
| BAR HARBOR WEALTH MANAGEMENT | 108,641 | 0 | 0 | 0 | For |
| LAWSON KROEKER INVESTMENT MANAGEMENT INC/NE | 99,079 | 0 | 0 | 0 | For |
| MELLON INVESTMENTS Corp | 53,923 | 0 | 0 | 0 | For |
| WisdomTree | 48,517 | 0 | 0 | 0 | For |
| Invesco | 46,252 | 0 | 0 | 0 | For |
| Equitable | 41,651 | 0 | 0 | 0 | For |
| DE Shaw | 39,269 | 0 | 0 | 0 | For |
| Brandywine Global Investment Management, LLC | 34,941 | 0 | 0 | 0 | For |
Showing the 25 largest of 204 asset managers. See all 204 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99% Majority: yes · of votes cast
Nelnet, Inc.’s own tally for this item (“Elect Director: Adam K. Peterson”): 125,579,487 for, 1,385,447 against, per its Form 8-K filed 2025-05-20 (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. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 61 asset managers below cast 86% of the shares they voted on this item FOR (4,463,925 for, 718,162 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 1,789,086 | 0 | 0 | 0 | For |
| Vanguard | 1,475,969 | 0 | 0 | 0 | For |
| BlackRock | 0 | 555,011 | 0 | 0 | Against |
| Fidelity | 337,147 | 3,728 | 0 | 0 | For |
| GENERAL AMERICAN INVESTORS CO INC | 243,415 | 0 | 0 | 0 | For |
| Charles Schwab | 196,459 | 0 | 0 | 0 | For |
| American Century | 113,569 | 0 | 0 | 0 | For |
| Northern Trust | 0 | 62,635 | 0 | 0 | Against |
| WisdomTree | 48,517 | 0 | 0 | 0 | For |
| Equitable | 0 | 41,651 | 0 | 0 | Against |
| State Street | 35,725 | 4 | 0 | 0 | For |
| TIAA | 33,206 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 27,270 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 0 | 24,364 | 0 | 0 | Against |
| Invesco | 20,827 | 0 | 0 | 0 | For |
| JAMES ADVANTAGE FUNDS | 20,646 | 0 | 0 | 0 | For |
| Lincoln Financial | 15,221 | 0 | 0 | 0 | For |
| First Trust | 13,211 | 0 | 0 | 0 | For |
| Global X | 11,708 | 0 | 0 | 0 | For |
| Pacific Life | 2,859 | 7,517 | 0 | 0 | Against |
| John Hancock | 9,820 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 0 | 9,048 | 0 | 0 | Against |
| Jackson National | 8,044 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 6,965 | 0 | 0 | 0 | For |
| PIMCO | 5,217 | 0 | 0 | 0 | For |
Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.
Combines 5 wordings of this item as funds reported it.
97% Majority: yes · of votes cast
Nelnet, Inc.’s own tally for this item (“Elect Director: Kimberly K. Rath”): 122,794,787 for, 4,172,301 against, per its Form 8-K filed 2025-05-20 (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. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 61 asset managers below cast 45.5% of the shares they voted on this item FOR (2,358,232 for, 2,823,855 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 0 | 1,789,086 | 0 | 0 | Against |
| Vanguard | 1,472,102 | 3,867 | 0 | 0 | For |
| BlackRock | 555,011 | 0 | 0 | 0 | For |
| Fidelity | 3,728 | 337,147 | 0 | 0 | Against |
| GENERAL AMERICAN INVESTORS CO INC | 243,415 | 0 | 0 | 0 | For |
| Charles Schwab | 0 | 196,459 | 0 | 0 | Against |
| American Century | 0 | 113,569 | 0 | 0 | Against |
| Northern Trust | 0 | 62,635 | 0 | 0 | Against |
| WisdomTree | 0 | 48,517 | 0 | 0 | Against |
| Equitable | 22,814 | 18,837 | 0 | 0 | For |
| State Street | 107 | 35,622 | 0 | 0 | Against |
| TIAA | 0 | 33,206 | 0 | 0 | Against |
| AMERICAN BEACON FUNDS | 0 | 27,270 | 0 | 0 | Against |
| QUANTITATIVE MASTER SERIES LLC | 24,364 | 0 | 0 | 0 | For |
| Invesco | 0 | 20,827 | 0 | 0 | Against |
| JAMES ADVANTAGE FUNDS | 0 | 20,646 | 0 | 0 | Against |
| Lincoln Financial | 0 | 15,221 | 0 | 0 | Against |
| First Trust | 0 | 13,211 | 0 | 0 | Against |
| Global X | 0 | 11,708 | 0 | 0 | Against |
| Pacific Life | 7,517 | 2,859 | 0 | 0 | For |
| John Hancock | 0 | 9,820 | 0 | 0 | Against |
| Bridge Builder Trust | 6,729 | 2,319 | 0 | 0 | For |
| Jackson National | 0 | 8,044 | 0 | 0 | Against |
| AIG/SunAmerica | 0 | 6,965 | 0 | 0 | Against |
| PIMCO | 0 | 5,217 | 0 | 0 | Against |
Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.6% Majority: yes · of votes cast
Nelnet, Inc.’s own tally for this item (“Elect Director: Matthew W. Dunlap”): 126,520,873 for, 456,027 against, per its Form 8-K filed 2025-05-20 (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. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 61 asset managers below cast 99% of the shares they voted on this item FOR (5,108,293 for, 73,794 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 1,789,086 | 0 | 0 | 0 | For |
| Vanguard | 1,475,969 | 0 | 0 | 0 | For |
| BlackRock | 555,011 | 0 | 0 | 0 | For |
| Fidelity | 340,875 | 0 | 0 | 0 | For |
| GENERAL AMERICAN INVESTORS CO INC | 243,415 | 0 | 0 | 0 | For |
| Charles Schwab | 196,459 | 0 | 0 | 0 | For |
| American Century | 113,569 | 0 | 0 | 0 | For |
| Northern Trust | 62,635 | 0 | 0 | 0 | For |
| WisdomTree | 48,517 | 0 | 0 | 0 | For |
| Equitable | 22,814 | 18,837 | 0 | 0 | For |
| State Street | 190 | 35,539 | 0 | 0 | Against |
| TIAA | 33,206 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 27,270 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 24,364 | 0 | 0 | 0 | For |
| Invesco | 20,827 | 0 | 0 | 0 | For |
| JAMES ADVANTAGE FUNDS | 20,646 | 0 | 0 | 0 | For |
| Lincoln Financial | 4,683 | 10,538 | 0 | 0 | Against |
| First Trust | 13,211 | 0 | 0 | 0 | For |
| Global X | 11,708 | 0 | 0 | 0 | For |
| Pacific Life | 10,376 | 0 | 0 | 0 | For |
| John Hancock | 9,820 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 6,729 | 2,319 | 0 | 0 | For |
| Jackson National | 8,044 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 6,965 | 0 | 0 | 0 | For |
| PIMCO | 5,217 | 0 | 0 | 0 | For |
Showing the 25 largest of 61 asset managers. See all 61 in the interactive database.
Combines 2 wordings of this item as funds reported it.
99.9% Majority: yes · of votes cast
Nelnet, Inc.’s own tally for this item (“Proposal 2: Ratification of the appointment of KPMG LLP”): 128,155,793 for, 125,351 against, per its Form 8-K filed 2025-05-20 (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. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 60 asset managers below cast 99.9% of the shares they voted on this item FOR (5,181,042 for, 658 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 1,789,086 | 0 | 0 | 0 | For |
| Vanguard | 1,475,527 | 442 | 0 | 0 | For |
| BlackRock | 555,011 | 0 | 0 | 0 | For |
| Fidelity | 340,875 | 0 | 0 | 0 | For |
| GENERAL AMERICAN INVESTORS CO INC | 243,415 | 0 | 0 | 0 | For |
| Charles Schwab | 196,459 | 0 | 0 | 0 | For |
| American Century | 113,569 | 0 | 0 | 0 | For |
| Northern Trust | 62,635 | 0 | 0 | 0 | For |
| WisdomTree | 48,517 | 0 | 0 | 0 | For |
| Equitable | 41,651 | 0 | 0 | 0 | For |
| State Street | 35,725 | 4 | 0 | 0 | For |
| TIAA | 33,206 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 27,270 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 24,364 | 0 | 0 | 0 | For |
| Invesco | 20,827 | 0 | 0 | 0 | For |
| JAMES ADVANTAGE FUNDS | 20,646 | 0 | 0 | 0 | For |
| Lincoln Financial | 15,221 | 0 | 0 | 0 | For |
| First Trust | 13,211 | 0 | 0 | 0 | For |
| Global X | 11,708 | 0 | 0 | 0 | For |
| Pacific Life | 10,376 | 0 | 0 | 0 | For |
| John Hancock | 9,820 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 9,048 | 0 | 0 | 0 | For |
| Jackson National | 8,044 | 0 | 0 | 0 | For |
| AIG/SunAmerica | 6,965 | 0 | 0 | 0 | For |
| PIMCO | 5,217 | 0 | 0 | 0 | For |
Showing the 25 largest of 60 asset managers. See all 60 in the interactive database.
Ranked by the number of Nelnet, Inc. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 36,478,426 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Dimensional | 5.36% |
| 2 | MAGNOLIA GROUP, LLC | 5.21% |
| 3 | Vanguard | 4.15% |
| 4 | UNION BANK & TRUST CO /NE/ | 4.12% |
| 5 | BlackRock | 2.86% |
| 6 | Charles Schwab | 1.08% |
| 7 | GEODE CAPITAL MANAGEMENT, LLC | 1.04% |
| 8 | State Street | 1.01% |
| 9 | Fidelity | 0.94% |
| 10 | Madison Avenue Partners, LP | 0.81% |
Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).
| Holder | % outstanding | Disclosure |
|---|---|---|
| Dunlap, Michael S. | 36.70% | 13D |
| Whitetail Rock Capital Management, LLC | 18.87% | 13G |
| Angela L. Muhleisen | 16.10% | DEF14A |
| Michael S. Dunlap | 13.99% | DEF14A |
| Muhleisen, Angela L. | 12.84% | 13G |
| The Estate of Dan D. Muhleisen | 10.11% | DEF14A |
| Dimensional Fund Advisors LP | 5.69% | DEF14A |
| UNION BANK & TRUST CO / TRUSTEE | 5.61% | 13G |
| Adam K. Peterson | 5.23% | DEF14A |
| Deborah Bartels | 4.92% | DEF14A |
Percentages above are of 36,478,426 shares outstanding, as reported by Nelnet, Inc. on its Form 10-Q dated 2025-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, 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 2025-03-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.
At Nelnet, Inc.'s shareholder meeting held 2025-05-15, in the 2024-2025 proxy season, 206 asset managers reported how they voted on 5 ballot items in their SEC Form N-PX filings, covering 1,259 separate fund positions. On the most widely held item on that ballot — Advisory approval of the Company's executive compensation. — FOR was 99.9% 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), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: Nelnet, Inc.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-05-20.
Nelnet, Inc. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.