SLM CORP

Ticker: SLM CUSIP: 78442P106 Class: Common Stock

KESTREL INVESTMENT MANAGEMENT CORP's Holding History (CIK: 0000917579)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015

Shares 1,100,000 Value ($000) $10,208 Avg Close $9.40 Range $8.50 - $10.34

Q4 2014

Shares 1,100,000 Value ($000) $11,209 Avg Close $9.56 Range $8.34 - $10.47

Q3 2014

Shares 1,100,000 Value ($000) $9,416 Avg Close $8.77 Range $8.19 - $9.23

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2015	1,100,000	$10,208	$9.40	$8.50 - $10.34
Q4 2014	1,100,000	$11,209	$9.56	$8.34 - $10.47
Q3 2014	1,100,000	$9,416	$8.77	$8.19 - $9.23