SLM CORP SLM
COM · Common Stock · CUSIP 78442P106 · ISIN US78442P1066
- SectorFinancials
- IndustryPersonal Credit Institutions
- HeadquartersNewark, DE
- Founded1972
- Websitesalliemae.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($4.4m this quarter). Holder counts are more reliable. Shares outstanding: 226.3m as of 2023-09-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $13.76. Options: 9 managers hold calls ($1.7m notional), 6 hold puts ($1.7m).
Trends to Q3 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 305 |
| Q4 2022 | 300 |
| Q1 2023 | 300 |
| Q2 2023 | 292 |
| Q3 2023 | 296 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 131 | 148 |
| Q1 2023 | 138 | 166 |
| Q2 2023 | 117 | 164 |
| Q3 2023 | 125 | 155 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $18.1m | $2.7m | 0.15 |
| Q1 2023 | $2.0m | $3.3m | 1.62 |
| Q2 2023 | $5.9m | $1.4m | 0.24 |
| Q3 2023 | $1.7m | $1.7m | 0.98 |
Biggest buyers
| Assenagon Asset Management S.A. | Added | +2.6m |
| Man Group plc | New | +2.3m |
| Holocene Advisors, LP | Added | +2.2m |
| CITADEL ADVISORS LLC | Added | +1.9m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.7m |
| ABN AMRO Bank N.V. | Added | +1.2m |
| Philadelphia Financial Management of San Francisco, LLC | Added | +577.2k |
| ABN AMRO INVESTMENT SOLUTIONS | Added | +575.7k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | Added | +572.9k |
| RENAISSANCE TECHNOLOGIES LLC | New | +504.7k |
Biggest sellers
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -2.3m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -1.9m |
| Man Group plc | Sold out | -1.8m |
| BlackRock Inc. | Reduced | -1.4m |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | Sold out | -1.3m |
| MORGAN STANLEY | Reduced | -1.2m |
| AMERIPRISE FINANCIAL INC | Reduced | -1.0m |
| Polaris Capital Management, LLC | Reduced | -760.1k |
| Rhino Investment Partners, Inc | Sold out | -711.8k |
| GEODE CAPITAL MANAGEMENT, LLC | Reduced | -542.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $686.4k50.4k shares |
| CITADEL ADVISORS LLC | Reduced | $441.3k32.4k shares |
| PEAK6 Investments LLC | Reduced | $197.5k14.5k shares |
| WOLVERINE TRADING, LLC | New | $153.9k11.3k shares |
| SIMPLEX TRADING, LLC | Added | $91.0k6.7k shares |
| Walleye Trading LLC | Reduced | $68.1k5.0k shares |
| GROUP ONE TRADING LLC | Added | $57.2k4.2k shares |
| Walleye Capital LLC | Reduced | $54.5k4.0k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.0m76.2k shares |
| CITADEL ADVISORS LLC | Added | $356.8k26.2k shares |
| GROUP ONE TRADING LLC | Added | $242.4k17.8k shares |
| SIMPLEX TRADING, LLC | Added | $76.0k5.6k shares |
| Walleye Trading LLC | Unchanged | $1.4k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution new · filed 2025-05-12 | 8.9% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution new · filed 2026-08-14 | 6.6% |
| Brave Warrior Advisors, LLC 13G · institution +1.3 pts · filed 2025-11-06 | 6.3% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.1% |
Fell to 5% or below in the last year: Capital Research Global Investors (2.8%, 2026-05-14), BARROW HANLEY MEWHINNEY & STRAUSS LLC (2.6%, 2026-05-13), VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q3 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 2 | $857.8k | — |
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 2 | $1.1m | — |
| Q3 2023 | 0 | — | 1 | $120.9k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-07-31 | Jafarieh Nicolas EVP -Legal, Govt, Comm Officer | Sold | $120.9k7.5k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 32.0m $435.6m | Added +60.1k |
| BlackRock Inc. 0.01% of their portfolio | 20.1m $273.6m | Reduced -1.4m |
| Impactive Capital LP 11.97% of their portfolio | 19.7m $268.3m | Reduced -302.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 13.6m $184.9m | Reduced -2.3m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 12.3m $167.2m | Reduced -1.9m |
| Boston Partners 0.18% of their portfolio | 9.8m $133.1m | Reduced -194.2k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.36% of their portfolio | 6.9m $94.3m | Added +572.9k |
| STATE STREET CORP 0.01% of their portfolio | 6.8m $93.2m | Reduced -293.5k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 6.3m $85.8m | Reduced -420.6k |
| FMR LLC 0.01% of their portfolio | 5.9m $79.8m | Reduced -93.8k |
| MORGAN STANLEY 0.01% of their portfolio | 5.4m $73.6m | Reduced -1.2m |
| GOLDENTREE ASSET MANAGEMENT LP 6.16% of their portfolio | 4.3m $58.3m | Added +357.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.6m $49.3m | Reduced -542.4k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.27% of their portfolio | 3.4m $46.3m | Reduced -336.9k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 3.0m $41.5m | Reduced -158.1k |
| Assenagon Asset Management S.A. 0.14% of their portfolio | 2.9m $39.8m | Added +2.6m |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 2.9m $39.0m | Added +1.9m |
| NORGES BANK 0.01% of their portfolio | 2.7m $37.1m | Unchanged |
| AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio | 2.6m $35.0m | Added +209.6k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.4m $32.3m | Reduced -121.5k |
| Holocene Advisors, LP 0.14% of their portfolio | 2.3m $31.9m | Added +2.2m |
| MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio | 2.3m $31.5m | Added +1.7m |
| Man Group plc 0.10% of their portfolio | 2.3m $30.9m | New |
| Polaris Capital Management, LLC 1.34% of their portfolio | 1.8m $24.8m | Reduced -760.1k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 1.8m $23.8m | Added +334.0k |
| Arnhold LLC 2.70% of their portfolio | 1.7m $22.6m | Added +89.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.6m $22.3m | Added +3.3k |
| ABN AMRO INVESTMENT SOLUTIONS 0.38% of their portfolio | 1.4m $19.5m | Added +575.7k |
| ABN AMRO Bank N.V. 0.34% of their portfolio | 1.4m $18.7m | Added +1.2m |
| Philadelphia Financial Management of San Francisco, LLC 5.30% of their portfolio | 1.3m $18.3m | Added +577.2k |
| TRUIST FINANCIAL CORP 0.03% of their portfolio | 1.3m $17.6m | Reduced -216.0k |
| Rockefeller Capital Management L.P. 0.06% of their portfolio | 1.2m $16.8m | Reduced -171.9k |
| Invesco Ltd. 0.00% of their portfolio | 1.0m $13.9m | Added +212.5k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 1.0m $13.6m | Reduced -82.0k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.13% of their portfolio | 957.0k $13.0m | Reduced -97.6k |
| Brandywine Global Investment Management, LLC 0.11% of their portfolio | 884.0k $12.0m | Reduced -23.6k |
| No Street GP LP 1.40% of their portfolio | 850.0k $11.6m | Reduced -351.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 839.2k $11.4m | Reduced -75.1k |
| Walleye Capital LLC 0.15% of their portfolio | 757.8k $10.3m | Reduced -144.2k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 722.9k $9.8m | Reduced -56.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 684.1k $9.3m | Added +162.9k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.15% of their portfolio | 676.4k $9.2m | Added +35.0k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 654.5k $8.9m | Reduced -28.6k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 608.7k $8.3m | Reduced -279.5k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 579.0k $7.9m | Reduced -97.2k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 504.7k $6.9m | New |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 496.4k $6.8m | Added +119.9k |
| Swiss National Bank 0.01% of their portfolio | 479.5k $6.5m | Added +6.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 473.5k $6.4m | Added +60.2k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 466.4k $6.4m | Reduced -35.2k |
| California Public Employees Retirement System 0.01% of their portfolio | 460.4k $6.3m | Added +16.6k |
| Cubist Systematic Strategies, LLC 0.07% of their portfolio | 438.8k $6.0m | Added +253.8k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 435.6k $5.9m | Reduced -1.0m |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 432.4k $5.9m | Added +111.0k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 429.6k $5.9m | Reduced -44.5k |
| Cambria Investment Management, L.P. 0.47% of their portfolio | 427.7k $5.8m | Added +33.4k |
| HRT FINANCIAL LP 0.06% of their portfolio | 423.1k $5.8m | New |
| Squarepoint Ops LLC 0.03% of their portfolio | 416.3k $5.7m | New |
| Allianz Asset Management GmbH 0.01% of their portfolio | 416.0k $5.7m | Added +217.6k |
| ARGA Investment Management, LP 0.23% of their portfolio | 415.6k $5.7m | Added +379.6k |
| TWINBEECH CAPITAL LP 0.11% of their portfolio | 407.0k $5.5m | Added +325.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 353.8k $4.8m | Reduced -5.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 353.6k $4.8m | Reduced -388.9k |
| Legal & General Group Plc 0.00% of their portfolio | 348.3k $4.7m | Reduced -19.0k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.03% of their portfolio | 319.3k $4.3m | Reduced -47.2k |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.42% of their portfolio | 309.5k $4.2m | Reduced -700 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 307.7k $4.2m | Reduced -16.1k |
| ALGERT GLOBAL LLC 0.19% of their portfolio | 303.3k $4.1m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 298.0k $4.1m | Added +260 |
| HST Ventures, LLC 1.41% of their portfolio | 289.2k $3.9m | Reduced -204.5k |
| HERITAGE INVESTORS MANAGEMENT CORP 0.16% of their portfolio | 285.5k $3.9m | Reduced -4.7k |
| Retirement Systems of Alabama 0.02% of their portfolio | 282.3k $3.8m | Reduced -30.1k |
| Systematic Alpha Investments, LLC 0.19% of their portfolio | 277.9k $3.8m | Unchanged |
| Bridgewater Associates, LP 0.02% of their portfolio | 277.7k $3.8m | Added +252.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 267.4k $3.6m | Added +46.0k |
| Jump Financial, LLC 0.13% of their portfolio | 262.9k $3.6m | Added +241.0k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 255.4k $3.5m | Added +8.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 254.6k $3.5m | Added +117.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 246.1k $3.4m | Reduced -28.7k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 241.2k $3.3m | Added +118.8k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 233.0k $3.2m | Added +158.2k |
| SG Americas Securities, LLC 0.04% of their portfolio | 228.7k $3.1m | Added +88.5k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 225.5k $3.1m | Added +4.4k |
| PUTNAM INVESTMENTS LLC 0.00% of their portfolio | 215.6k $2.9m | Added +38.4k |
| ExodusPoint Capital Management, LP 0.04% of their portfolio | 211.1k $2.9m | Added +87.9k |
| Gator Capital Management, LLC 1.95% of their portfolio | 202.8k $2.8m | Added +148.1k |
| Richard Bernstein Advisors LLC 0.06% of their portfolio | 202.2k $2.8m | New |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.05% of their portfolio | 198.0k $2.7m | Reduced -161.4k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 195.4k $2.7m | Added +13.6k |
| COMERICA BANK 0.01% of their portfolio | 191.3k $2.6m | Reduced -362.0k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.03% of their portfolio | 190.1k $2.6m | Reduced -22.5k |
| UBS Group AG 0.00% of their portfolio | 184.9k $2.5m | Added +18.7k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 174.8k $2.4m | Added +13.3k |
| Trexquant Investment LP 0.06% of their portfolio | 174.3k $2.4m | Reduced -97.1k |
| AMALGAMATED BANK 0.02% of their portfolio | 159.6k $2.2m | Reduced -4.7k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 159.2k $2.2m | Added +96.5k |
| CAPITAL FUND MANAGEMENT S.A. 0.03% of their portfolio | 158.3k $2.2m | Added +72.6k |
| DekaBank Deutsche Girozentrale 0.00% of their portfolio | 155.6k $2.1m | Added +31.6k |
| GABELLI FUNDS LLC 0.02% of their portfolio | 154.0k $2.1m | Unchanged |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 147.5k $2.0m | Reduced -28.6k |