In a recent 13F filing, Ruane, Cunniff & Goldfarb disclosed a 96.39% reduction in their stake in Credit Acceptance Corp. (CACC), divesting an estimated $89.73M worth of shares. This transaction lowered their position from 146.20K shares to just 5.28K. These filings are released quarterly and reflect trades made in the prior period, in this case the second quarter of 2026.
In their second-quarter shareholder letter, the firm confirmed its actions, stating they exited the last of their holdings in Credit Acceptance to fund other purchases. This sale concludes a period of stake trimming in the auto finance company. Credit Acceptance recently reported its own second-quarter results, showing a decline in consumer loan assignment volume and a reduction in forecasted net cash flows from its loan portfolio.