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 ($61.8m this quarter). Holder counts are more reliable. Shares outstanding: 210.7m as of 2025-03-31, 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 ≈ $29.36. Options: 13 managers hold calls ($50.7m notional), 13 hold puts ($65.0m).
Trends to Q1 2025
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 |
| Q1 2024 | 316 |
| Q2 2024 | 299 |
| Q3 2024 | 321 |
| Q4 2024 | 347 |
| Q1 2025 | 400 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 117 | 164 |
| Q3 2023 | 125 | 155 |
| Q4 2023 | 133 | 157 |
| Q1 2024 | 143 | 157 |
| Q2 2024 | 125 | 165 |
| Q3 2024 | 144 | 147 |
| Q4 2024 | 160 | 158 |
| Q1 2025 | 190 | 161 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $14.8m | $4.9m | 0.33 |
| Q3 2024 | $17.9m | $4.0m | 0.22 |
| Q4 2024 | $11.1m | $17.0m | 1.53 |
| Q1 2025 | $50.7m | $65.0m | 1.28 |
Biggest buyers
| FMR LLC | Added | +11.2m |
| Brave Warrior Advisors, LLC | New | +9.5m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Added | +3.6m |
| MILLENNIUM MANAGEMENT LLC | Added | +2.1m |
| M.D. Sass, LLC | New | +1.3m |
| ROYAL LONDON ASSET MANAGEMENT LTD | New | +1.2m |
| JANE STREET GROUP, LLC | Added | +995.2k |
| BANK OF AMERICA CORP /DE/ | Added | +941.4k |
| CITADEL ADVISORS LLC | New | +891.3k |
| HRT FINANCIAL LP | Added | +744.9k |
Biggest sellers
| FIRST TRUST ADVISORS LP | Reduced | -11.9m |
| Impactive Capital LP | Reduced | -4.4m |
| VANGUARD GROUP INC | Reduced | -3.2m |
| Duquesne Family Office LLC | Sold out | -2.5m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -2.3m |
| Boston Partners | Reduced | -1.6m |
| Vest Financial, LLC | Reduced | -1.2m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Sold out | -1.2m |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | Reduced | -1.1m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -1.1m |
Biggest calls
| Philadelphia Financial Management of San Francisco, LLC | New | $29.7m1.0m shares |
| Park West Asset Management LLC | New | $5.9m200.0k shares |
| ExodusPoint Capital Management, LP | New | $3.8m130.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.3m113.3k shares |
| CITADEL ADVISORS LLC | Reduced | $2.2m73.3k shares |
| SIMPLEX TRADING, LLC | Added | $1.9m66.2k shares |
| IMC-Chicago, LLC | Added | $1.3m43.5k shares |
| GROUP ONE TRADING LLC | Added | $816.5k27.8k shares |
| Walleye Capital LLC | Added | $543.3k18.5k shares |
| JANE STREET GROUP, LLC | Reduced | $455.2k15.5k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $16.6m565.2k shares |
| CITIGROUP INC | New | $16.2m550.0k shares |
| UBS Group AG | New | $11.2m382.0k shares |
| Walleye Trading LLC | Added | $8.3m281.8k shares |
| SIMPLEX TRADING, LLC | Added | $3.7m126.2k shares |
| JANE STREET GROUP, LLC | Added | $3.7m125.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $2.3m78.5k shares |
| IMC-Chicago, LLC | Added | $1.7m57.1k shares |
| WOLVERINE TRADING, LLC | Added | $615.6k21.3k shares |
| GROUP ONE TRADING LLC | Added | $467.0k15.9k 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 Q1 2025
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 |
|---|---|---|---|---|---|
| Q2 2023 | 0 | — | 2 | $1.1m | — |
| Q3 2023 | 0 | — | 1 | $120.9k | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 2 | $2.2m | — |
| Q2 2024 | 1 | $249.4k | 3 | $418.5k | $308.8k |
| Q3 2024 | 0 | — | 1 | $294.3k | $294.3k |
| Q4 2024 | 0 | — | 1 | $324.4k | $324.4k |
| Q1 2025 | 1 | $289.0k | 3 | $2.5m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-02-21 | Palmer Kerri A. EVP, Chief Operational Officer | Sold | $797.5k25.0k shares |
| 2025-02-19 | VIEIRA DONNA F EVP & Chief Commercial Officer | Sold | $446.1k13.7k shares |
| 2025-02-12 | Strong Robert S. Director | Sold | $147.4k5.0k shares |
| 2025-02-11 | Manvitz Ted Director | Bought | $289.0k10.0k shares |
| 2025-01-28 | Strong Robert S. Director | Sold | $1.1m40.0k 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, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 25.6m $752.5m | Reduced -3.2m |
| BlackRock, Inc. 0.01% of their portfolio | 19.0m $557.3m | Reduced -150.6k |
| FMR LLC 0.04% of their portfolio | 18.8m $551.0m | Added +11.2m |
| Impactive Capital LP 14.84% of their portfolio | 11.0m $324.4m | Reduced -4.4m |
| Boston Partners 0.38% of their portfolio | 10.7m $312.0m | Reduced -1.6m |
| Brave Warrior Advisors, LLC 6.36% of their portfolio | 9.5m $277.7m | New |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.93% of their portfolio | 8.7m $255.0m | Added +3.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.08% of their portfolio | 7.8m $229.9m | Reduced -2.3m |
| STATE STREET CORP 0.01% of their portfolio | 7.0m $204.7m | Reduced -16.5k |
| Capital Research Global Investors 0.04% of their portfolio | 6.0m $174.8m | Added +727.5k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 5.4m $159.1m | Reduced -217.8k |
| AMERICAN CENTURY COMPANIES INC 0.10% of their portfolio | 5.3m $156.4m | Added +149.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.8m $112.5m | Reduced -987.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 3.3m $98.3m | Added +513.2k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 3.0m $87.6m | Added +554.9k |
| MORGAN STANLEY 0.01% of their portfolio | 2.7m $80.3m | Reduced -781.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.7m $78.0m | Added +15.7k |
| NORGES BANK 0.01% of their portfolio | 2.7m $78.0m | Added +167.1k |
| MILLENNIUM MANAGEMENT LLC 0.08% of their portfolio | 2.6m $77.3m | Added +2.1m |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.24% of their portfolio | 2.5m $72.5m | Reduced -1.1m |
| Allianz Asset Management GmbH 0.10% of their portfolio | 2.3m $66.9m | Reduced -452.3k |
| Pertento Partners LLP 7.22% of their portfolio | 2.1m $60.5m | Added +301.7k |
| T. Rowe Price Investment Management, Inc. 0.04% of their portfolio | 2.0m $57.4m | Reduced -815.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.8m $52.9m | Added +12.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.6m $48.3m | Reduced -93.5k |
| Polaris Capital Management, LLC 2.63% of their portfolio | 1.6m $46.0m | Reduced -22.6k |
| Invesco Ltd. 0.01% of their portfolio | 1.5m $44.8m | Reduced -159.2k |
| Portolan Capital Management, LLC 3.38% of their portfolio | 1.5m $44.4m | Added +611.8k |
| ABN AMRO Bank N.V. 0.59% of their portfolio | 1.5m $42.8m | Reduced -53.6k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.17% of their portfolio | 1.4m $41.7m | Reduced -1.0m |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 1.4m $40.6m | Reduced -11.9m |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.4m $40.1m | Added +941.4k |
| M.D. Sass, LLC 3.28% of their portfolio | 1.3m $37.3m | New |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 1.2m $35.7m | Added +995.2k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.08% of their portfolio | 1.2m $35.1m | New |
| GOLDENTREE ASSET MANAGEMENT LP 2.68% of their portfolio | 1.2m $34.0m | Added +381.3k |
| HRT FINANCIAL LP 0.22% of their portfolio | 1.1m $31.0m | Added +744.9k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 1.0m $29.6m | Reduced -512.0k |
| Arnhold LLC 3.03% of their portfolio | 1.0m $30.0m | Reduced -61.7k |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 891.3k $26.2m | New |
| Rockefeller Capital Management L.P. 0.06% of their portfolio | 869.1k $25.5m | Reduced -141.5k |
| ABN AMRO INVESTMENT SOLUTIONS 0.51% of their portfolio | 838.6k $24.6m | Reduced -478.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 819.3k $24.1m | Reduced -11.7k |
| Tidal Investments LLC 0.19% of their portfolio | 784.3k $23.0m | Added +79.4k |
| LSV ASSET MANAGEMENT 0.05% of their portfolio | 743.0k $21.8m | Added +350.7k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 706.0k $20.5m | Added +57.7k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 681.1k $20.0m | Reduced -66.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 659.8k $19.4m | Reduced -94.7k |
| Perpetual Ltd 0.23% of their portfolio | 641.6k $18.8m | Added +406.3k |
| Walleye Capital LLC 0.20% of their portfolio | 605.2k $17.8m | Reduced -598.4k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 590.4k $17.3m | Reduced -586 |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 547.7k $16.1m | Added +137.3k |
| Philadelphia Financial Management of San Francisco, LLC 3.57% of their portfolio | 546.8k $16.1m | Reduced -777.7k |
| CITIGROUP INC 0.01% of their portfolio | 546.0k $16.0m | Added +473.7k |
| Nuveen, LLC 0.00% of their portfolio | 529.3k $15.5m | First filing |
| UBS Group AG 0.00% of their portfolio | 528.9k $15.5m | Reduced -518.6k |
| Cambria Investment Management, L.P. 1.06% of their portfolio | 517.5k $15.2m | Reduced -61.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 484.2k $14.2m | Reduced -2.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 435.8k $12.8m | Added +82.0k |
| Gator Capital Management, LLC 4.56% of their portfolio | 405.8k $11.9m | Added +26.0k |
| Swiss National Bank 0.01% of their portfolio | 390.8k $11.5m | Added +5.9k |
| Park West Asset Management LLC 0.93% of their portfolio | 386.7k $11.4m | New |
| THOMPSON SIEGEL & WALMSLEY LLC 0.19% of their portfolio | 386.0k $11.3m | Reduced -75.6k |
| California Public Employees Retirement System 0.01% of their portfolio | 383.4k $11.3m | Added +2.7k |
| Legal & General Group Plc 0.00% of their portfolio | 361.7k $10.6m | Added +21.5k |
| BARCLAYS PLC 0.00% of their portfolio | 353.2k $10.4m | Added +64.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 341.7k $10.0m | Reduced -84.5k |
| Sycale Advisors (NY) LLC 3.18% of their portfolio | 335.8k $9.9m | Added +1.8k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 324.7k $9.5m | Added +10.9k |
| Hudson Bay Capital Management LP 0.06% of their portfolio | 306.2k $9.0m | New |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.72% of their portfolio | 303.4k $8.9m | Reduced -3.4k |
| Helix Partners Management LP 7.05% of their portfolio | 300.0k $8.8m | Reduced -200.0k |
| Governors Lane LP 1.85% of their portfolio | 291.7k $8.6m | New |
| Systematic Alpha Investments, LLC 0.31% of their portfolio | 277.9k $8.2m | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 274.3k $8.1m | Reduced -12.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 257.0k $7.5m | Reduced -18.5k |
| Retirement Systems of Alabama 0.03% of their portfolio | 256.1k $7.5m | Reduced -2.1k |
| Steamboat Capital Partners, LLC 2.22% of their portfolio | 250.0k $7.3m | Added +200.2k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.02% of their portfolio | 241.9k $7.1m | Added +76.7k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 235.6k $6.9m | Reduced -164.4k |
| Corebridge Financial, Inc. 0.04% of their portfolio | 232.4k $6.8m | Reduced -7.8k |
| Bridgewater Associates, LP 0.03% of their portfolio | 225.8k $6.6m | Reduced -203.4k |
| SHIKIAR ASSET MANAGEMENT INC 1.92% of their portfolio | 218.6k $6.4m | Added +14.2k |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT 0.74% of their portfolio | 209.4k $6.2m | Unchanged |
| ExodusPoint Capital Management, LP 0.08% of their portfolio | 208.4k $6.1m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 207.1k $6.1m | Added +40.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 206.0k $6.1m | Reduced -13.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 203.0k $6.0m | Added +167.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 198.0k $5.8m | Added +13.7k |
| HARBOR CAPITAL ADVISORS, INC. 0.26% of their portfolio | 194.4k $5.7m | Reduced -30.5k |
| Richard Bernstein Advisors LLC 0.14% of their portfolio | 194.2k $5.7m | Reduced -8.1k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 189.3k $5.6m | Reduced -13.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 184.2k $5.4m | Reduced -41.6k |
| Advantage Alpha Capital Partners LP 1.32% of their portfolio | 183.9k $5.4m | Reduced -68.1k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 179.9k $5.3m | Reduced -5.3k |
| Brevan Howard Capital Management LP 0.15% of their portfolio | 179.3k $5.3m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 172.3k $5.1m | Added +21.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 169.2k $5.0m | Reduced -1.5k |
| Mitsubishi UFJ Trust & Banking Corp 0.01% of their portfolio | 164.1k $4.8m | Reduced -59.6k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 161.1k $4.8m | Reduced -51.5k |