Magnolia Capital Fund Reports New 5.9% Stake in Nelnet, Inc. (NNI)

On June 5, 2026, Magnolia Capital Fund, LP, along with The Magnolia Group, LLC and Adam K. Peterson, filed a Schedule 13G reporting a new 5.9% stake in Nelnet, Inc. (NNI). The reporting group disclosed beneficial ownership of 1,493,149 shares of Class A Common Stock. The filing event occurred on May 14, 2026. The Magnolia Group, LLC serves as the general partner of Magnolia Capital Fund, LP, and Adam K. Peterson is the managing member of The Magnolia Group, LLC. Consequently, both TMG and Mr. Peterson may be deemed to have indirect beneficial ownership and shared voting and dispositive power over the shares held by MCF. The filing indicates that the securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This initial filing establishes a significant institutional position in the Lincoln, Nebraska-based educational services and technology company.