SCHEDULE 13D/A

Nelnet Inc

Class A Common Stock · CUSIP: 64031N108

Event date: 2025-11-10

Reporting persons may disclose overlapping interests. Their amounts are shown individually and are not added into a filing total.

Filing-level shares

Unavailable

Percent of class

Unavailable

• Dunlap, Michael S.Reported CIK 0001269797

  Shares: 13,387,235 · Class: 37.8%

• Union Financial Services, Inc.

  Shares: 1,586,691 · Class: 5.9%

• Dunlap Holdings, LLC

  Shares: 1,600,000 · Class: 5.9%

Amounts are as disclosed in this filing. Schedule type alone does not establish investment intent.