L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
29
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 7 listed it in both
Shares listed
54,908,715
combined, among listed positions
Reported value
$1.5bn
combined, at the quarter end

Among the 92 comparable managers: 14 buyers (opened or added shares) and 19 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +5,048,180.

Managers listing SLM in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

29 of 29 holders

ActionFiling
Fidelity (FMR LLC)18,358,033$497munder 0.1%Trimmed-480,95217 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors11,268,593$305m0.06%Added+1,107,76811 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc7,176,284$194munder 0.1%Added+4,236,12717 Feb 2026 (the filing on sec.gov)
MFS Investment Management6,853,426$185m0.06%Added+711,37922 Jan 2026 (the filing on sec.gov)
Millennium Management LLC2,177,081$59munder 0.1%Added+293,57817 Feb 2026 (the filing on sec.gov)
Invesco Ltd1,836,588$50munder 0.1%Added+265,44019 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC1,310,270$35munder 0.1%Added+638,52217 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP1,150,709$31munder 0.1%Added+1,068,75617 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP744,953$20munder 0.1%Trimmed-207,23717 Feb 2026 (the filing on sec.gov)
Squarepoint Ops LLC640,013$17munder 0.1%Newnew13 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC604,826$16munder 0.1%Trimmed-24,98017 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC440,603$12munder 0.1%Trimmed-754,34112 Feb 2026 (the filing on sec.gov)
Renaissance Technologies LLC406,700$11munder 0.1%Trimmed-368,40012 Feb 2026 (the filing on sec.gov)
Two Sigma Advisers LP313,700$8.5munder 0.1%Trimmed-111,40017 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP260,497$7.0munder 0.1%Trimmed-266,93417 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp254,299$6.9munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Arrowstreet Capital LP214,513$5.8munder 0.1%Trimmed-198,95313 Feb 2026 (the filing on sec.gov)
Bridgewater Associates LP178,557$4.8munder 0.1%Added+145,86913 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC129,092$3.5munder 0.1%Added+32,35217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC127,800$3.5munder 0.1%Trimmed-28,51613 Feb 2026 (the filing on sec.gov)
Discovery Capital Management LLC111,400$3.0m0.16%Trimmed-67,70017 Feb 2026 (the filing on sec.gov)
Brevan Howard Capital Management LP88,993$2.4munder 0.1%Trimmed-11,27017 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd86,323$2.3munder 0.1%Held017 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP56,742$1.5munder 0.1%Trimmed-3,20817 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP37,391$1.0munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
8 in Q3 2024 to 8 in Q2 2026

Tracked managers listing it, at least.

0510152014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
SLM by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20138$1.2bnn.a.n.a.
Q3 201312$1.1bnn.a.n.a.
Q4 201312$1.2bnn.a.n.a.
Q1 201410$915mn.a.n.a.
Q2 20149$450mn.a.n.a.
Q3 20148$450mn.a.n.a.
Q4 20147$720mn.a.n.a.
Q1 20155$320mn.a.n.a.
Q2 20157$214mn.a.n.a.
Q3 20157$155mn.a.n.a.
Q4 20154$174mn.a.n.a.
Q1 20162$98mn.a.n.a.
Q2 20162$9.3mn.a.n.a.
Q3 20162$7.8mn.a.n.a.
Q4 20166$595mn.a.n.a.
Q1 20179$892mn.a.n.a.
Q2 201712$700mn.a.n.a.
Q3 201712$876mn.a.n.a.
Q4 201712$864mn.a.n.a.
Q1 20189$736mn.a.n.a.
Q2 20187$1.3bnn.a.n.a.
Q3 20188$1.4bnn.a.n.a.
Q4 20188$852mn.a.n.a.
Q1 20196$803mn.a.n.a.
Q2 20197$754mn.a.n.a.
Q3 20196$730mn.a.n.a.
Q4 201910$630mn.a.n.a.
Q1 20208$585mn.a.n.a.
Q2 20208$315mn.a.n.a.
Q3 20206$417mn.a.n.a.
Q4 20205$645mn.a.n.a.
Q1 20218$849mn.a.n.a.
Q2 202114$1.1bnn.a.n.a.
Q3 202113$913mn.a.n.a.
Q4 20219$885mn.a.n.a.
Q1 20227$739mn.a.n.a.
Q2 20225$575mn.a.n.a.
Q3 20228$375mn.a.n.a.
Q4 20227$371mn.a.n.a.
Q1 20236$235mn.a.n.a.
Q2 20235$308mn.a.n.a.
Q3 20237$253mn.a.n.a.
Q4 20237$345m53
Q1 20248$424m52
Q2 20247$292m35
Q3 20248$371m53
Q4 202410$556m73
Q1 202512$1.1bn83
Q2 20257$1.1bn34
Q3 202511$1.0bn91
Q4 20255$690m1419
Q1 20267$506m1817
Q2 20268$684m1320

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

SLM and V →SLM and AXP →SLM and BAC →Choose a stock to compare with SLM →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own SLM, latest filings →Back to the 13F Explorer →