Charles Schwab Reduces Stake in SLM Co. by 1.1% Charles Schwab Investment Management has reduced its holdings in SLM Co. by 1.1% during Q4 2024. The firm sold 19,822 shares, retaining 1,738,235 shares valued at $47.94 million. Institutional investors now own 98.94% of SLM's stock, reflecting strong interest despite minor adjustments among major shareholders.1