SCHEDULE: Vanguard Adjusts SLM Corp Ownership Reporting

The Vanguard Group, Inc. has amended its Schedule 13G for SLM Corp, reporting 0% beneficial ownership due to an internal realignment where subsidiaries will now report separately.

Summary

• The Vanguard Group, Inc. filed an Amendment No. 14 to its Schedule 13G for SLM Corp common stock.
• The filing indicates that The Vanguard Group, Inc. now beneficially owns 0.00 shares, representing 0% of the class.
• This change is a result of an internal realignment within The Vanguard Group, Inc. that occurred on January 12, 2026.
• Following the realignment, certain subsidiaries or business divisions of Vanguard will report beneficial ownership separately (on a disaggregated basis) in reliance on SEC Release No. 34-39538.
• The subsidiaries and business divisions will continue to pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment.
• The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by these disaggregated subsidiaries and/or business divisions.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, procedural filing. It reflects an internal reporting change by The Vanguard Group, Inc. and does not indicate a change in SLM Corp's operational or financial performance, nor a divestment by Vanguard's overall managed assets.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding SLM Corp's future performance or The Vanguard Group's investment strategy beyond the reporting change.

Management Comments

• Ashley Grim, Head of Global Fund Administration for The Vanguard Group, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.

Industry Context

StockSavvy.ai notes that Schedule 13G filings are used by passive institutional investors to report beneficial ownership of 5% or more of a company's stock. An amendment (13G/A) indicates a change in previously reported information. Vanguard's realignment to disaggregate reporting among its subsidiaries is a procedural change in how a large asset manager complies with SEC disclosure requirements, rather than a change in its overall investment strategy or a divestment from SLM Corp by the broader Vanguard entity.

Stakeholder Impact

• Shareholders of SLM Corp may note the change in how Vanguard reports its beneficial ownership, but this filing does not imply a change in the total shares held by Vanguard-managed funds, only how they are attributed for reporting purposes.

Key Dates

Keywords

Vanguard Group, SLM Corp, Schedule 13G, Beneficial Ownership, SEC Filing, Institutional Investor, Reporting Change, Common Stock