NELNET INC

Ticker: NNI CUSIP: 64031N108 Class: Common Stock

AXA S.A.'s Holding History (CIK: 0000898427)

Note: Option positions (PUT/CALL) are excluded.

Q4 2015

Shares 11,180 Value ($000) $375 Avg Close $33.50 Range $30.55 - $36.97

Q3 2015

Shares 25,510 Value ($000) $883 Avg Close $39.38 Range $34.26 - $44.92

Q2 2015

Shares 75,064 Value ($000) $3,251 Avg Close $43.92 Range $40.81 - $48.69

Q1 2015

Shares 142,394 Value ($000) $6,738 Avg Close $46.14 Range $43.00 - $48.80

Q4 2014

Shares 147,200 Value ($000) $6,820 Avg Close $45.54 Range $42.42 - $48.52

Q3 2014

Shares 83,517 Value ($000) $3,599 Avg Close $42.91 Range $40.16 - $45.91

Q2 2014

Shares 82,347 Value ($000) $3,412 Avg Close $40.94 Range $38.42 - $44.20

Q1 2014

Shares 32,950 Value ($000) $1,348 Avg Close $39.47 Range $34.86 - $44.30

Q4 2013

Shares 30,600 Value ($000) $1,289 Avg Close $42.18 Range $38.00 - $45.49

Q3 2013

Shares 28,700 Value ($000) $1,104 Avg Close $38.64 Range $36.06 - $41.74

Q2 2013

Shares 12,600 Value ($000) $455 Avg Close $35.78 Range $31.56 - $39.98

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	11,180	$375	$33.50	$30.55 - $36.97
Q3 2015	25,510	$883	$39.38	$34.26 - $44.92
Q2 2015	75,064	$3,251	$43.92	$40.81 - $48.69
Q1 2015	142,394	$6,738	$46.14	$43.00 - $48.80
Q4 2014	147,200	$6,820	$45.54	$42.42 - $48.52
Q3 2014	83,517	$3,599	$42.91	$40.16 - $45.91
Q2 2014	82,347	$3,412	$40.94	$38.42 - $44.20
Q1 2014	32,950	$1,348	$39.47	$34.86 - $44.30
Q4 2013	30,600	$1,289	$42.18	$38.00 - $45.49
Q3 2013	28,700	$1,104	$38.64	$36.06 - $41.74
Q2 2013	12,600	$455	$35.78	$31.56 - $39.98