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 ($90.0m this quarter). Holder counts are more reliable. Shares outstanding: 208.5m as of 2025-06-30, 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 ≈ $32.79. Options: 14 managers hold calls ($53.3m notional), 13 hold puts ($28.3m).
Trends to Q2 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 |
| Q2 2025 | 429 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q2 2025 | 228 | 179 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $17.9m | $4.0m | 0.22 |
| Q4 2024 | $11.1m | $17.0m | 1.53 |
| Q1 2025 | $50.7m | $65.0m | 1.28 |
| Q2 2025 | $53.3m | $28.3m | 0.53 |
Biggest buyers
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Added | +5.4m |
| ROYAL LONDON ASSET MANAGEMENT LTD | Added | +2.4m |
| Capital Research Global Investors | Added | +2.4m |
| FIRST TRUST ADVISORS LP | Added | +2.1m |
| ROYAL BANK OF CANADA | Added | +1.3m |
| Brave Warrior Advisors, LLC | Added | +1.1m |
| WEDGE CAPITAL MANAGEMENT L L P/NC | Added | +1.0m |
| UBS Group AG | Added | +939.9k |
| BANK OF AMERICA CORP /DE/ | Added | +592.9k |
| Capitolis Liquid Global Markets LLC | New | +462.8k |
Biggest sellers
| Impactive Capital LP | Reduced | -3.0m |
| T. Rowe Price Investment Management, Inc. | Sold out | -2.0m |
| VOYA INVESTMENT MANAGEMENT LLC | Reduced | -1.9m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.8m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.6m |
| GOLDENTREE ASSET MANAGEMENT LP | Sold out | -1.2m |
| JACOBS LEVY EQUITY MANAGEMENT, INC | Reduced | -931.0k |
| Portolan Capital Management, LLC | Reduced | -802.0k |
| Pertento Partners LLP | Reduced | -793.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -720.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $19.3m589.5k shares |
| Governors Lane LP | New | $8.2m250.0k shares |
| SIMPLEX TRADING, LLC | Added | $6.8m208.3k shares |
| Walleye Trading LLC | Added | $5.5m167.9k shares |
| CITADEL ADVISORS LLC | Added | $5.3m160.2k shares |
| GROUP ONE TRADING LLC | Added | $2.0m62.2k shares |
| IMC-Chicago, LLC | Added | $1.5m46.2k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $1.4m41.2k shares |
| PEAK6 LLC | New | $1.2m36.2k shares |
| WOLVERINE TRADING, LLC | Added | $771.3k23.4k shares |
Biggest puts
| Walleye Trading LLC | Added | $9.3m283.2k shares |
| CITADEL ADVISORS LLC | Reduced | $7.0m214.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.1m126.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.0m62.3k shares |
| IMC-Chicago, LLC | Reduced | $1.1m33.3k shares |
| WOLVERINE TRADING, LLC | Added | $988.8k30.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $924.7k28.2k shares |
| Twin Tree Management, LP | New | $905.0k27.6k shares |
| GROUP ONE TRADING LLC | Added | $629.6k19.2k shares |
| JANE STREET GROUP, LLC | Reduced | $527.9k16.1k 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 Q2 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 |
|---|---|---|---|---|---|
| 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 | — |
| Q2 2025 | 0 | — | 2 | $434.2k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-05-28 | Pahwa Munish EVP & Chief Risk Officer | Sold | $340.8k10.0k shares |
| 2025-05-02 | Strong Robert S. Director | Sold | $93.5k3.0k 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, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 25.1m $824.3m | Reduced -485.0k |
| BlackRock, Inc. 0.01% of their portfolio | 19.1m $624.7m | Added +76.3k |
| FMR LLC 0.03% of their portfolio | 18.5m $608.1m | Reduced -216.5k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.56% of their portfolio | 14.1m $462.5m | Added +5.4m |
| Boston Partners 0.40% of their portfolio | 11.1m $362.7m | Added +408.6k |
| Brave Warrior Advisors, LLC 7.92% of their portfolio | 10.5m $345.6m | Added +1.1m |
| Capital Research Global Investors 0.05% of their portfolio | 8.3m $272.5m | Added +2.4m |
| Impactive Capital LP 11.86% of their portfolio | 8.0m $263.3m | Reduced -3.0m |
| STATE STREET CORP 0.01% of their portfolio | 6.9m $225.4m | Reduced -94.9k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.06% of their portfolio | 6.2m $204.2m | Reduced -1.6m |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 5.4m $177.4m | Reduced -9.6k |
| AMERICAN CENTURY COMPANIES INC 0.10% of their portfolio | 5.4m $175.4m | Added +24.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.8m $125.7m | Added +3.3k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.27% of their portfolio | 3.6m $117.8m | Added +2.4m |
| FIRST TRUST ADVISORS LP 0.09% of their portfolio | 3.5m $114.7m | Added +2.1m |
| Bank of New York Mellon Corp 0.02% of their portfolio | 3.2m $104.6m | Added +207.0k |
| MORGAN STANLEY 0.01% of their portfolio | 3.2m $103.4m | Added +419.7k |
| NORGES BANK 0.01% of their portfolio | 2.7m $88.1m | Added +31.9k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.5m $82.1m | Reduced -151.6k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.25% of their portfolio | 2.3m $76.1m | Reduced -146.8k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 2.1m $69.7m | Reduced -152.9k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.0m $64.2m | Added +592.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.6m $53.4m | Reduced -16.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 1.5m $49.0m | Reduced -1.9m |
| UBS Group AG 0.01% of their portfolio | 1.5m $48.2m | Added +939.9k |
| Polaris Capital Management, LLC 3.19% of their portfolio | 1.5m $47.9m | Reduced -107.1k |
| ABN AMRO Bank N.V. 0.60% of their portfolio | 1.4m $46.0m | Reduced -65.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 1.4m $44.5m | Added +1.3m |
| Invesco Ltd. 0.01% of their portfolio | 1.4m $44.5m | Reduced -169.7k |
| Pertento Partners LLP 4.68% of their portfolio | 1.3m $41.5m | Reduced -793.6k |
| M.D. Sass, LLC 3.03% of their portfolio | 1.1m $37.7m | Reduced -121.4k |
| AQR CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 1.1m $36.9m | Added +91.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.1m $35.5m | Reduced -720.6k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.62% of their portfolio | 1.1m $34.8m | Added +1.0m |
| Russell Investments Group, Ltd. 0.04% of their portfolio | 998.9k $32.9m | Added +292.9k |
| Arnhold LLC 2.88% of their portfolio | 965.0k $31.6m | Reduced -56.1k |
| Perpetual Ltd 0.35% of their portfolio | 915.2k $30.0m | Added +273.6k |
| LSV ASSET MANAGEMENT 0.07% of their portfolio | 907.8k $29.8m | Added +164.8k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 875.1k $28.7m | Added +327.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 865.0k $28.4m | Added +45.7k |
| Rockefeller Capital Management L.P. 0.03% of their portfolio | 858.6k $28.2m | Reduced -10.5k |
| MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio | 827.3k $27.1m | Reduced -1.8m |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 795.8k $26.1m | Reduced -95.6k |
| Tidal Investments LLC 0.17% of their portfolio | 778.2k $25.5m | Reduced -6.1k |
| Walleye Capital LLC 0.23% of their portfolio | 743.5k $24.4m | Added +138.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 712.0k $23.3m | Added +52.2k |
| Portolan Capital Management, LLC 1.46% of their portfolio | 710.3k $23.3m | Reduced -802.0k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 677.7k $22.2m | Added +336.0k |
| ABN AMRO INVESTMENT SOLUTIONS 0.44% of their portfolio | 675.0k $22.1m | Reduced -163.6k |
| Governors Lane LP 2.69% of their portfolio | 599.0k $19.6m | Added +307.3k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 593.1k $19.4m | Reduced -88.0k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 579.9k $19.0m | Reduced -10.5k |
| Nuveen, LLC 0.01% of their portfolio | 563.0k $18.5m | Added +33.8k |
| JANE STREET GROUP, LLC 0.03% of their portfolio | 562.2k $18.4m | Reduced -653.1k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 528.7k $17.3m | Added +92.9k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.06% of their portfolio | 490.1k $16.1m | Reduced -931.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 476.1k $15.6m | Reduced -8.1k |
| Philadelphia Financial Management of San Francisco, LLC 3.40% of their portfolio | 468.0k $15.3m | Reduced -78.8k |
| Capitolis Liquid Global Markets LLC 0.11% of their portfolio | 462.8k $15.2m | New |
| Cambria Investment Management, L.P. 1.00% of their portfolio | 451.0k $14.8m | Reduced -66.6k |
| Sycale Advisors (NY) LLC 4.38% of their portfolio | 433.1k $14.2m | Added +97.3k |
| California Public Employees Retirement System 0.01% of their portfolio | 417.3k $13.7m | Added +34.0k |
| Gator Capital Management, LLC 4.13% of their portfolio | 404.4k $13.3m | Reduced -1.4k |
| Swiss National Bank 0.01% of their portfolio | 382.0k $12.5m | Reduced -8.8k |
| HRT FINANCIAL LP 0.07% of their portfolio | 371.8k $12.2m | Reduced -683.8k |
| Legal & General Group Plc 0.00% of their portfolio | 370.8k $12.2m | Added +9.1k |
| Vest Financial, LLC 0.16% of their portfolio | 341.9k $11.2m | Added +306.8k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.18% of their portfolio | 322.2k $10.6m | Reduced -63.8k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 320.5k $10.5m | Added +84.9k |
| Parkwood LLC 0.87% of their portfolio | 290.2k $9.5m | New |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.72% of their portfolio | 286.9k $9.4m | Reduced -16.5k |
| Bridgewater Associates, LP 0.04% of their portfolio | 278.9k $9.1m | Added +53.0k |
| Systematic Alpha Investments, LLC 0.32% of their portfolio | 277.9k $9.1m | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 275.6k $9.0m | Reduced -77.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 274.8k $9.0m | Added +410 |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 268.8k $8.8m | Added +11.8k |
| Cubist Systematic Strategies, LLC 0.09% of their portfolio | 261.3k $8.6m | New |
| Retirement Systems of Alabama 0.03% of their portfolio | 256.5k $8.4m | Added +412 |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 255.7k $8.4m | New |
| Helix Partners Management LP 4.31% of their portfolio | 250.0k $8.2m | Reduced -50.0k |
| SEI INVESTMENTS CO 0.01% of their portfolio | 226.9k $7.4m | Added +148.4k |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.02% of their portfolio | 215.5k $7.1m | Reduced -26.4k |
| Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio | 208.8k $6.8m | Added +44.7k |
| SHIKIAR ASSET MANAGEMENT INC 1.83% of their portfolio | 201.2k $6.6m | Reduced -17.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 198.0k $6.5m | Unchanged |
| Steamboat Capital Partners, LLC 1.84% of their portfolio | 196.7k $6.5m | Reduced -53.3k |
| HARBOR CAPITAL ADVISORS, INC. 0.27% of their portfolio | 194.8k $6.4m | Added +407 |
| CITIGROUP INC 0.00% of their portfolio | 194.5k $6.4m | Reduced -351.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 191.5k $6.3m | Reduced -15.7k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 188.3k $6.2m | Reduced -1.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 184.2k $6.0m | Unchanged |
| DISCOVERY CAPITAL MANAGEMENT, LLC / CT 0.46% of their portfolio | 179.1k $5.9m | Reduced -30.3k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 176.0k $5.9m | Added +15.0k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 162.3k $5.3m | New |
| Livforsakringsbolaget Skandia, Omsesidigt 0.23% of their portfolio | 160.3k $5.3m | Added +77.7k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 159.2k $5.2m | Reduced -20.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 158.8k $5.2m | Reduced -10.4k |
| AXA S.A. 0.01% of their portfolio | 157.5k $5.2m | Added +21.4k |
| Verition Fund Management LLC 0.03% of their portfolio | 156.4k $5.1m | Added +6.8k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 153.5k $5.0m | Added +88.3k |