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 ($5.9m this quarter). Holder counts are more reliable. Shares outstanding: 220.3m as of 2024-01-31, 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 ≈ $19.12. Options: 15 managers hold calls ($35.2m notional), 13 hold puts ($17.2m).
Trends to Q4 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 |
| Q4 2023 | 308 |
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 |
| Q4 2023 | 133 | 157 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $2.0m | $3.3m | 1.62 |
| Q2 2023 | $5.9m | $1.4m | 0.24 |
| Q3 2023 | $1.7m | $1.7m | 0.98 |
| Q4 2023 | $35.2m | $17.2m | 0.49 |
Biggest buyers
| MORGAN STANLEY | Added | +6.1m |
| Boston Partners | Added | +2.0m |
| Man Group plc | New | +1.9m |
| DEUTSCHE BANK AG\ | Added | +1.8m |
| FMR LLC | Added | +1.4m |
| VANGUARD GROUP INC | Added | +1.2m |
| Holocene Advisors, LP | Added | +912.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +776.0k |
| JPMORGAN CHASE & CO | Added | +645.1k |
| Polaris Capital Management, LLC | Added | +622.4k |
Biggest sellers
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -2.4m |
| Man Group plc | Sold out | -2.3m |
| Assenagon Asset Management S.A. | Reduced | -2.0m |
| GOLDENTREE ASSET MANAGEMENT LP | Reduced | -1.9m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.5m |
| No Street GP LP | Sold out | -850.0k |
| NORGES BANK | Reduced | -520.4k |
| Arnhold LLC | Reduced | -421.4k |
| TWINBEECH CAPITAL LP | Sold out | -407.0k |
| Invesco Ltd. | Reduced | -378.8k |
Biggest calls
| BANK OF MONTREAL /CAN/ | New | $8.6m443.9k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $7.4m389.2k shares |
| JPMORGAN CHASE & CO | New | $6.1m321.4k shares |
| Jefferies Financial Group Inc. | New | $3.2m165.6k shares |
| CITADEL ADVISORS LLC | Added | $2.9m151.5k shares |
| PEAK6 Investments LLC | Added | $1.5m78.5k shares |
| GROUP ONE TRADING LLC | Added | $1.5m77.4k shares |
| SIMPLEX TRADING, LLC | Added | $1.3m68.4k shares |
| IMC-Chicago, LLC | New | $1.3m66.6k shares |
| GTS SECURITIES LLC | New | $678.8k35.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.6m291.9k shares |
| GROUP ONE TRADING LLC | Added | $3.8m196.3k shares |
| IMC-Chicago, LLC | New | $2.1m111.7k shares |
| CITADEL ADVISORS LLC | Added | $1.3m70.5k shares |
| BANK OF MONTREAL /CAN/ | New | $1.2m63.4k shares |
| PEAK6 Investments LLC | New | $961.7k50.3k shares |
| Squarepoint Ops LLC | New | $952.2k49.8k shares |
| JANE STREET GROUP, LLC | New | $388.1k20.3k shares |
| Walleye Trading LLC | Added | $286.8k15.0k shares |
| WOLVERINE TRADING, LLC | New | $269.6k14.1k 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 Q4 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 |
|---|---|---|---|---|---|
| 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 | — |
| Q4 2023 | 0 | — | 0 | — | — |
None reported in Q4 2023.
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 33.1m $633.6m | Added +1.2m |
| BlackRock Inc. 0.01% of their portfolio | 19.9m $380.9m | Reduced -170.3k |
| Impactive Capital LP 15.46% of their portfolio | 19.7m $376.6m | Unchanged |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.07% of their portfolio | 12.0m $230.4m | Reduced -1.5m |
| Boston Partners 0.30% of their portfolio | 11.8m $225.6m | Added +2.0m |
| MORGAN STANLEY 0.01% of their portfolio | 11.5m $219.8m | Added +6.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 9.9m $189.0m | Reduced -2.4m |
| FMR LLC 0.01% of their portfolio | 7.3m $139.1m | Added +1.4m |
| STATE STREET CORP 0.01% of their portfolio | 7.0m $133.6m | Added +150.6k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.45% of their portfolio | 6.6m $125.4m | Reduced -366.9k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 6.5m $123.8m | Added +170.8k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.7m $71.0m | Added +93.4k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.32% of their portfolio | 3.3m $63.3m | Reduced -90.2k |
| Holocene Advisors, LP 0.24% of their portfolio | 3.3m $62.2m | Added +912.8k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 3.1m $59.1m | Added +776.0k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 2.9m $56.2m | Reduced -106.7k |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 2.9m $54.9m | Added +303.6k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 2.7m $51.6m | Reduced -163.5k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.4m $46.8m | Added +77.3k |
| Polaris Capital Management, LLC 2.26% of their portfolio | 2.4m $46.8m | Added +622.4k |
| GOLDENTREE ASSET MANAGEMENT LP 4.76% of their portfolio | 2.4m $45.8m | Reduced -1.9m |
| NORGES BANK 0.01% of their portfolio | 2.2m $42.1m | Reduced -520.4k |
| Man Group plc 0.11% of their portfolio | 1.9m $37.0m | New |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 1.8m $34.4m | Added +1.8m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.7m $33.0m | Added +88.2k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.7m $32.8m | Reduced -35.0k |
| ABN AMRO Bank N.V. 0.43% of their portfolio | 1.4m $25.9m | Reduced -21.9k |
| ABN AMRO INVESTMENT SOLUTIONS 0.45% of their portfolio | 1.3m $25.4m | Reduced -105.3k |
| TRUIST FINANCIAL CORP 0.04% of their portfolio | 1.3m $24.3m | Reduced -22.7k |
| Arnhold LLC 2.65% of their portfolio | 1.2m $23.7m | Reduced -421.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.2m $23.4m | Added +645.1k |
| Rockefeller Capital Management L.P. 0.07% of their portfolio | 1.2m $22.2m | Reduced -71.3k |
| Philadelphia Financial Management of San Francisco, LLC 5.22% of their portfolio | 1.1m $21.1m | Reduced -239.2k |
| Brandywine Global Investment Management, LLC 0.16% of their portfolio | 1.1m $20.1m | Added +168.5k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 932.4k $17.8m | Reduced -67.9k |
| Assenagon Asset Management S.A. 0.05% of their portfolio | 879.2k $16.8m | Reduced -2.0m |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 834.7k $16.0m | Reduced -4.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 790.2k $15.1m | Added +316.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.02% of their portfolio | 788.3k $15.1m | Added +104.2k |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.13% of their portfolio | 750.1k $14.3m | Reduced -206.9k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 714.4k $13.7m | Reduced -8.5k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 696.5k $13.4m | Added +587.8k |
| Invesco Ltd. 0.00% of their portfolio | 641.4k $12.3m | Reduced -378.8k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 638.0k $12.2m | Reduced -16.5k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 605.7k $11.6m | Added +189.7k |
| HST Ventures, LLC 3.88% of their portfolio | 575.0k $11.0m | Added +285.8k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 538.6k $10.3m | Added +103.0k |
| ARGA Investment Management, LP 0.33% of their portfolio | 497.1k $9.5m | Added +81.5k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.15% of their portfolio | 493.1k $9.4m | Reduced -183.3k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 487.2k $9.3m | Added +20.8k |
| Cambria Investment Management, L.P. 0.64% of their portfolio | 482.5k $9.2m | Added +54.8k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 476.2k $9.1m | Reduced -20.2k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 460.6k $8.8m | Added +31.0k |
| EAGLE ASSET MANAGEMENT INC 0.05% of their portfolio | 452.5k $8.7m | New |
| California Public Employees Retirement System 0.01% of their portfolio | 424.0k $8.1m | Reduced -36.4k |
| Walleye Capital LLC 0.11% of their portfolio | 419.1k $8.0m | Reduced -338.7k |
| Swiss National Bank 0.01% of their portfolio | 401.0k $7.7m | Reduced -78.5k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 382.5k $7.3m | Reduced -49.9k |
| Gator Capital Management, LLC 4.02% of their portfolio | 380.1k $7.3m | Added +177.4k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 373.0k $7.1m | New |
| Bridgewater Associates, LP 0.04% of their portfolio | 355.4k $6.8m | Added +77.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 353.0k $6.8m | Reduced -752 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 346.7k $6.6m | Reduced -6.9k |
| Legal & General Group Plc 0.00% of their portfolio | 339.1k $6.5m | Reduced -9.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 338.1k $6.5m | Added +223.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 333.4k $6.4m | Added +66.0k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 321.5k $6.1m | Reduced -287.3k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 318.2k $6.1m | Added +10.6k |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.54% of their portfolio | 311.9k $6.0m | Added +2.4k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.02% of their portfolio | 306.4k $5.9m | Reduced -12.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 301.0k $5.8m | Added +3.0k |
| Retirement Systems of Alabama 0.02% of their portfolio | 283.4k $5.4m | Added +1.1k |
| HERITAGE INVESTORS MANAGEMENT CORP 0.20% of their portfolio | 280.6k $5.4m | Reduced -4.9k |
| Systematic Alpha Investments, LLC 0.24% of their portfolio | 277.9k $5.3m | Unchanged |
| SEI INVESTMENTS CO 0.01% of their portfolio | 277.2k $5.3m | Added +21.8k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 258.2k $4.9m | Added +161.6k |
| State of Tennessee, Department of Treasury 0.02% of their portfolio | 237.5k $4.5m | Reduced -3.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 226.6k $4.3m | Reduced -27.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 222.0k $4.2m | Reduced -24.1k |
| PUTNAM INVESTMENTS LLC 0.01% of their portfolio | 218.6k $4.2m | Added +3.0k |
| BARCLAYS PLC 0.00% of their portfolio | 216.7k $4.1m | Added +70.6k |
| ALGERT GLOBAL LLC 0.16% of their portfolio | 212.7k $4.1m | Reduced -90.6k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 205.8k $3.9m | Reduced -19.7k |
| Richard Bernstein Advisors LLC 0.09% of their portfolio | 202.3k $3.9m | Added +114 |
| Hudson Bay Capital Management LP 0.03% of their portfolio | 200.0k $3.8m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 196.7k $3.8m | Reduced -308.0k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.03% of their portfolio | 194.7k $3.7m | Added +4.6k |
| Squarepoint Ops LLC 0.02% of their portfolio | 193.6k $3.7m | Reduced -222.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 190.6k $3.6m | Reduced -4.8k |
| Advantage Alpha Capital Partners LP 0.65% of their portfolio | 179.0k $3.4m | New |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 174.8k $3.3m | Unchanged |
| COMERICA BANK 0.02% of their portfolio | 171.8k $3.3m | Reduced -19.5k |
| AMALGAMATED BANK 0.02% of their portfolio | 154.0k $2.9m | Reduced -5.6k |
| Trexquant Investment LP 0.07% of their portfolio | 153.8k $2.9m | Reduced -20.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 152.2k $2.9m | Reduced -7.0k |
| GABELLI FUNDS LLC 0.02% of their portfolio | 150.0k $2.9m | Reduced -4.0k |
| CAXTON ASSOCIATES LP 0.15% of their portfolio | 149.8k $2.9m | Added +84.0k |
| UBS Group AG 0.00% of their portfolio | 148.8k $2.8m | Reduced -36.2k |
| Schonfeld Strategic Advisors LLC 0.02% of their portfolio | 148.3k $2.8m | New |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 140.4k $2.7m | Reduced -7.1k |