Florida-based Gator Capital Management sold 83,850 shares of OneMain Financial, valued at $4.78 million in the third quarter. This move marked the fund’s exit from the position, representing 1.48% of its AUM. The fund eliminated its entire holding in OneMain Holdings, reducing exposure by $4.78 million based on quarterly average pricing.

Top holdings after the sale include NASDAQ: HOOD at $76.63 million, NYSE: HOUS at $27.15 million, NASDAQ: FCNCA at $16.99 million, NYSE: AX at $13.04 million, and NASDAQ: UMBF at $12.03 million. OneMain Holdings’ shares were priced at $69.08, up 30% in the past year, outperforming the S&P 500.

OneMain Holdings provides personal loans, credit cards, and insurance products to non-prime and near-prime consumers across the U.S. It generates revenue from interest income on consumer lending and service fees. The company focuses on individuals seeking personal financial solutions through branch offices and online platforms.

OneMain Holdings offers personal installment loans and financial products to non-prime consumers in the U.S. The company leverages a branch network and digital channels, emphasizing accessible credit solutions and cross-sold insurance offerings. In the third quarter, the company posted $1.67 in GAAP EPS, raised dividends to $1.05 per share, and authorized a $1 billion buyback program.

The decision to exit OneMain Holdings was more about concentration and redeployment than concern. The sale freed capital for higher-conviction ideas elsewhere in the portfolio, especially as other top holdings focus on growth and platform-driven businesses. The fund’s AUM totaled $389 million, with the OneMain position representing 1.48% before the sale.

Read more at Yahoo Finance: OneMain Stock Is Up 30% This Past Year but One Fund Just Cashed Out $4.8 Million