SLM Corp. reporting person Capital Research Global Investors filed an amendment to its Schedule 13G stating it is deemed the beneficial owner of 5,308,741 shares of Common Stock, representing 2.8% of the 188,582,790 shares believed outstanding as of 03/31/2026. The filing lists sole voting and dispositive power over 5,308,741 shares and identifies affiliated investment management entities. The amendment is signed by Jae Won Chung on 05/11/2026.
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Insights
Capital Research Global Investors holds a modest 2.8% stake in SLM.
Capital Research Global Investors is reported as beneficial owner of 5,308,741 shares with sole voting and dispositive power, per the Schedule 13G/A amendment. The filing lists multiple affiliated investment management entities collectively providing services under that name.
The disclosed stake is below typical activist thresholds; subsequent filings would show any material changes in stake or voting arrangements.
Key Figures
Beneficial ownership:5,308,741 sharesPercent of class:2.8%Shares outstanding (stated):188,582,790 shares+2 more
5 metrics
Beneficial ownership5,308,741 sharesCommon Stock reported by Capital Research Global Investors
Percent of class2.8%of 188,582,790 shares believed outstanding as of 03/31/2026
Shares outstanding (stated)188,582,790 sharesshares believed to be outstanding as of 03/31/2026
Sole voting power5,308,741 sharessole power to vote or direct the vote
Sole dispositive power5,308,741 sharessole power to dispose or direct disposition
Key Terms
Schedule 13G/A, Beneficial owner, Sole dispositive power, Sole voting power
4 terms
Schedule 13G/Aregulatory
"Amendment to a Section 13 filing reporting passive beneficial ownership"
A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.
Beneficial ownerfinancial
"CRGI is deemed to be the beneficial owner of 5,308,741 shares"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
Sole dispositive powerregulatory
"Sole power to dispose or to direct the disposition of: 5,308,741"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Sole voting powerregulatory
"Sole power to vote or to direct the vote: 5,308,741"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
SLM Corp.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
78442P106
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
78442P106
1
Names of Reporting Persons
Capital Research Global Investors
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
5,308,741.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
5,308,741.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
5,308,741.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
2.8 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
SLM Corp.
(b)
Address of issuer's principal executive offices:
300 Continental Drive, Newark, DE 19713
Item 2.
(a)
Name of person filing:
Capital Research Global Investors
(b)
Address or principal business office or, if none, residence:
333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)
Citizenship:
N/A
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
78442P106
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
5,308,741 **
**Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 5,308,741 shares or 2.8% of the 188,582,790 shares believed to be outstanding.
(b)
Percent of class:
2.8 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
5,308,741
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
5,308,741
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Capital Research Global Investors
Signature:
Jae Won Chung
Name/Title:
Vice President and Senior Counsel II, Capital Research and Management Company
