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 ($34.0m this quarter). Holder counts are more reliable. Shares outstanding: 188.6m as of 2026-03-31, 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 ≈ $21.42. Options: 11 managers hold calls ($35.5m notional), 10 hold puts ($7.9m).
Trends to Q1 2026
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 |
| Q3 2025 | 395 |
| Q4 2025 | 374 |
| Q1 2026 | 373 |
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 2024 | 125 | 165 |
| Q3 2024 | 144 | 147 |
| Q4 2024 | 160 | 158 |
| Q1 2025 | 190 | 161 |
| Q2 2025 | 228 | 179 |
| Q3 2025 | 171 | 226 |
| Q4 2025 | 135 | 233 |
| Q1 2026 | 205 | 187 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $53.3m | $28.3m | 0.53 |
| Q3 2025 | $14.3m | $63.2m | 4.43 |
| Q4 2025 | $9.0m | $29.8m | 3.31 |
| Q1 2026 | $35.5m | $7.9m | 0.22 |
Biggest buyers
| Azora Capital LP | Added | +2.5m |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | Added | +2.1m |
| DME Capital Management, LP | New | +2.1m |
| CITADEL ADVISORS LLC | Added | +2.0m |
| FIRST TRUST ADVISORS LP | Added | +1.4m |
| DIMENSIONAL FUND ADVISORS LP | Added | +1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.3m |
| Trexquant Investment LP | New | +1.1m |
| GOLDMAN SACHS GROUP INC | Added | +1.1m |
| RENAISSANCE TECHNOLOGIES LLC | Added | +794.2k |
Biggest sellers
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -9.3m |
| Capital Research Global Investors | Reduced | -6.0m |
| EdgePoint Investment Group Inc. | Sold out | -1.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.6m |
| ROYAL LONDON ASSET MANAGEMENT LTD | Reduced | -1.4m |
| M.D. Sass, LLC | Sold out | -1.4m |
| Invesco Ltd. | Reduced | -1.2m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Sold out | -1.2m |
| WEDGE CAPITAL MANAGEMENT L L P/NC | Sold out | -1.1m |
| Perpetual Ltd | Sold out | -919.4k |
Biggest calls
| HRT FINANCIAL LP | New | $15.0m700.0k shares |
| PEAK6 LLC | New | $5.4m250.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $4.6m214.5k shares |
| D. E. Shaw & Co., Inc. | New | $4.3m200.0k shares |
| IMC-Chicago, LLC | Added | $2.2m103.3k shares |
| SIMPLEX TRADING, LLC | Added | $1.3m60.3k shares |
| Walleye Trading LLC | Added | $1.3m59.3k shares |
| CITADEL ADVISORS LLC | Added | $503.1k23.5k shares |
| JANE STREET GROUP, LLC | Reduced | $445.3k20.8k shares |
| GROUP ONE TRADING LLC | Reduced | $428.2k20.0k shares |
Biggest puts
| CITIGROUP INC | New | $3.2m150.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.5m71.8k shares |
| JANE STREET GROUP, LLC | Added | $860.7k40.2k shares |
| Walleye Trading LLC | Added | $802.9k37.5k shares |
| Walleye Capital LLC | Reduced | $400.4k18.7k shares |
| CITADEL ADVISORS LLC | Reduced | $368.3k17.2k shares |
| IMC-Chicago, LLC | Reduced | $346.8k16.2k shares |
| TUDOR INVESTMENT CORP ET AL | Added | $263.3k12.3k shares |
| GROUP ONE TRADING LLC | Reduced | $126.3k5.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $12.8k600 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 2026
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 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 | — |
| Q3 2025 | 0 | — | 1 | $1.8m | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 18.9m $404.2m | Added +93.6k |
| FMR LLC 0.02% of their portfolio | 17.9m $383.6m | Reduced -441.6k |
| Brave Warrior Advisors, LLC 7.20% of their portfolio | 13.6m $290.8m | Added +752.4k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.01% of their portfolio | 10.8m $231.8m | First filing |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 8.6m $183.4m | First filing |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 8.4m $180.6m | Added +1.3m |
| Impactive Capital LP 12.14% of their portfolio | 7.8m $167.5m | Added +597.5k |
| DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio | 7.5m $160.9m | Added +1.4m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 6.6m $141.9m | Reduced -224.2k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 6.5m $138.9m | Added +2.1m |
| STATE STREET CORP 0.00% of their portfolio | 6.5m $138.1m | Reduced -14.6k |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 6.3m $135.2m | Added +582.6k |
| Capital Research Global Investors 0.02% of their portfolio | 5.3m $113.7m | Reduced -6.0m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.37% of their portfolio | 5.2m $112.0m | Reduced -9.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 4.1m $87.7m | Added +132.2k |
| CITADEL ADVISORS LLC 0.05% of their portfolio | 3.3m $70.2m | Added +2.0m |
| Azora Capital LP 4.51% of their portfolio | 3.2m $68.6m | Added +2.5m |
| Allianz Asset Management GmbH 0.08% of their portfolio | 3.1m $66.8m | Reduced -44.5k |
| MORGAN STANLEY 0.00% of their portfolio | 2.8m $59.3m | Added +29.9k |
| FIRST TRUST ADVISORS LP 0.04% of their portfolio | 2.3m $49.3m | Added +1.4m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.3m $48.9m | Reduced -32.4k |
| DME Capital Management, LP 1.41% of their portfolio | 2.1m $45.0m | New |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 2.1m $44.0m | Added +1.1m |
| UBS Group AG 0.01% of their portfolio | 1.8m $38.7m | Added +487.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.8m $38.4m | Added +126.8k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.07% of their portfolio | 1.8m $38.2m | Added +275.5k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.07% of their portfolio | 1.6m $35.0m | Reduced -1.4m |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.6m $34.8m | Reduced -21.6k |
| TWO SIGMA INVESTMENTS, LP 0.03% of their portfolio | 1.5m $31.6m | Added +732.2k |
| Polaris Capital Management, LLC 2.50% of their portfolio | 1.4m $30.6m | Added +183.5k |
| Arnhold LLC 2.00% of their portfolio | 1.3m $27.2m | Added +235.5k |
| VANGUARD FIDUCIARY TRUST CO 0.01% of their portfolio | 1.2m $26.6m | First filing |
| RENAISSANCE TECHNOLOGIES LLC 0.04% of their portfolio | 1.2m $25.7m | Added +794.2k |
| Trexquant Investment LP 0.17% of their portfolio | 1.1m $23.8m | New |
| ABN AMRO Bank N.V. 0.25% of their portfolio | 1.1m $23.4m | Reduced -260.8k |
| Squarepoint Ops LLC 0.05% of their portfolio | 1.0m $22.2m | Added +396.9k |
| LSV ASSET MANAGEMENT 0.04% of their portfolio | 901.1k $19.3m | Added +10.0k |
| TUDOR INVESTMENT CORP ET AL 0.10% of their portfolio | 881.5k $18.9m | Added +627.2k |
| Boston Partners 0.02% of their portfolio | 836.4k $17.9m | Added +245.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 803.7k $17.2m | Added +82.7k |
| Act Two Investors LLC 3.34% of their portfolio | 707.6k $15.1m | Added +670.1k |
| Parkwood LLC 1.34% of their portfolio | 703.7k $15.1m | Added +229.4k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 666.1k $14.3m | Reduced -628.8k |
| Invesco Ltd. 0.00% of their portfolio | 634.4k $13.6m | Reduced -1.2m |
| Man Group plc 0.03% of their portfolio | 613.7k $13.1m | Added +587.3k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 592.2k $12.6m | Reduced -12.6k |
| Point72 Asset Management, L.P. 0.02% of their portfolio | 575.2k $12.3m | New |
| Rockefeller Capital Management L.P. 0.02% of their portfolio | 551.6k $11.8m | Added +28.3k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 544.1k $11.6m | Reduced -8.8k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 532.2k $11.4m | Reduced -1.6m |
| Gator Capital Management, LLC 2.37% of their portfolio | 519.5k $11.1m | Added +108.8k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 504.0k $10.4m | Reduced -168.0k |
| Nuveen, LLC 0.00% of their portfolio | 479.2k $10.3m | Added +67.3k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.04% of their portfolio | 479.2k $10.3m | Added +350.1k |
| Tidal Investments LLC 0.03% of their portfolio | 471.7k $10.1m | Reduced -17.1k |
| Cambria Investment Management, L.P. 0.54% of their portfolio | 455.4k $9.7m | Added +127.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 444.5k $9.5m | Added +7.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 440.9k $9.4m | Reduced -226.7k |
| ABN AMRO INVESTMENT SOLUTIONS 0.12% of their portfolio | 427.6k $9.2m | Reduced -234.8k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 423.5k $9.1m | Reduced -17.1k |
| THOMPSON SIEGEL & WALMSLEY LLC 0.15% of their portfolio | 401.4k $8.6m | Added +21.2k |
| California Public Employees Retirement System 0.01% of their portfolio | 398.4k $8.5m | Reduced -5.0k |
| Swiss National Bank 0.00% of their portfolio | 381.6k $8.2m | Reduced -8.9k |
| BARCLAYS PLC 0.00% of their portfolio | 356.3k $7.6m | Added +82.4k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 350.0k $7.5m | Reduced -66.4k |
| AYAL Capital Advisors Ltd 3.29% of their portfolio | 300.0k $6.4m | Added +130.8k |
| Quantinno Capital Management LP 0.01% of their portfolio | 297.5k $6.4m | Added +202.0k |
| Legal & General Group Plc 0.00% of their portfolio | 290.2k $6.2m | Reduced -43.6k |
| SCHAPER BENZ & WISE INVESTMENT COUNSEL INC/WI 0.47% of their portfolio | 290.1k $6.2m | Added +5.0k |
| XTX Topco Ltd 0.11% of their portfolio | 289.5k $6.2m | Added +163.9k |
| Systematic Alpha Investments, LLC 0.21% of their portfolio | 277.9k $5.9m | Unchanged |
| SG Americas Securities, LLC 0.01% of their portfolio | 261.4k $5.6m | Added +101.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 260.9k $5.6m | Added +8.4k |
| Jump Financial, LLC 0.08% of their portfolio | 258.9k $5.5m | New |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 251.4k $5.4m | Added +249.9k |
| Retirement Systems of Alabama 0.02% of their portfolio | 244.2k $5.2m | Added +529 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 240.0k $6.5m | Reduced -20.5k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 237.4k $5.1m | Added +104.7k |
| PEREGRINE CAPITAL MANAGEMENT LLC 0.19% of their portfolio | 236.1k $5.1m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 226.4k $4.8m | Added +38.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 220.9k $4.7m | Reduced -44.3k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 218.1k $4.7m | New |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 214.7k $4.6m | Reduced -12.1k |
| SHIKIAR ASSET MANAGEMENT INC 1.32% of their portfolio | 213.1k $4.6m | Reduced -54.9k |
| Illinois Municipal Retirement Fund 0.06% of their portfolio | 212.8k $4.6m | Added +43.6k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 193.4k $4.1m | Reduced -276.3k |
| CITIGROUP INC 0.00% of their portfolio | 193.0k $4.1m | Added +151.0k |
| SummitTX Capital, L.P. 0.13% of their portfolio | 191.9k $4.1m | Added +148.7k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.00% of their portfolio | 187.1k $4.0m | First filing |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.00% of their portfolio | 186.5k $4.0m | Added +91.4k |
| Steamboat Capital Partners, LLC 0.98% of their portfolio | 184.7k $4.0m | Added +1.6k |
| HARBOR CAPITAL ADVISORS, INC. 0.29% of their portfolio | 169.8k $3.6m | Added +67.6k |
| Campbell & CO Investment Adviser LLC 0.21% of their portfolio | 168.4k $3.6m | New |
| Interval Partners, LP 0.12% of their portfolio | 167.2k $3.6m | New |
| Schonfeld Strategic Advisors LLC 0.03% of their portfolio | 161.4k $3.5m | New |
| EFG International AG 0.07% of their portfolio | 156.5k $3.4m | Added +38.1k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 153.4k $3.3m | Reduced -14.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 152.9k $3.3m | Added +45.0k |
| Vest Financial, LLC 0.04% of their portfolio | 150.0k $3.2m | Added +105.9k |
| CAXTON ASSOCIATES LLP 0.07% of their portfolio | 149.6k $3.2m | New |