Robert Olstein Olstein Capital Management
Robert Olstein is the founder of Olstein Capital Management and a long-time advocate of forensic accounting and quality-of-earnings analysis in equity investing. His process looks beyond headline multiples to assess earnings sustainability and balance-sheet risk. Olstein’s work is frequently referenced by investors who prioritize accounting diligence.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$10.2M |
| 2 |
WBA
Walgreens Boots Alliance
WBA
|
+$6.69M |
| 3 |
Eaton
ETN
|
+$5.44M |
| 4 |
DISCK
Discovery, Inc. Series C Common Stock
DISCK
|
+$5.08M |
| 5 |
Henry Schein
HSIC
|
+$5.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VWR
VWR Corporation
VWR
|
+$12.1M |
| 2 |
CVG
Convergys
CVG
|
+$9.06M |
| 3 |
Mattel
MAT
|
+$8.35M |
| 4 |
Walt Disney
DIS
|
+$6.75M |
| 5 |
HRC
HILL-ROM HOLDINGS, INC.
HRC
|
+$6.57M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.04% |
| 2 | Financials | 17.83% |
| 3 | Industrials | 17.33% |
| 4 | Healthcare | 14.84% |
| 5 | Consumer Discretionary | 13.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SKX
26
DELISTED
Skechers
SKX
| $9.12M | 1.16% |
241,056
-55,344
| -19% | -$1.79M |
|
27
Snap-on
SNA
$20.3B
| $9.06M | 1.15% |
52,000
-3,000
| -5% | -$485K |
|
|
WRK
28
DELISTED
WestRock Company
WRK
| $9.04M | 1.15% |
143,058
-25,000
| -15% | -$1.52M |
|
|
VIAB
29
DELISTED
Viacom Inc. Class B
VIAB
| $8.9M | 1.13% |
288,935
+31,935
| +12% | +$867K |
|
|
TFCF
30
DELISTED
Twenty-First Century Fox, Inc. Class B
TFCF
| $8.87M | 1.13% |
260,000
-23,000
| -8% | -$672K |
|
31
IBM
IBM
$222B
| $8.74M | 1.11% |
59,622
+15,690
| +36% | +$2.28M |
|
32
Delta Air Lines
DAL
$54.2B
| $8.68M | 1.11% |
155,000
-16,000
| -9% | -$836K |
|
33
Microsoft
MSFT
$3.59T
| $8.55M | 1.09% |
100,000
-10,000
| -9% | -$820K |
|
34
Universal Health Services
UHS
$10.4B
| $8.5M | 1.08% |
75,000
+19,000
| +34% | +$2.03M |
|
35
Regal Rexnord
RRX
$11.1B
| $8.39M | 1.07% |
109,600
| – | – |
|
36
eBay
EBAY
$46.3B
| $7.92M | 1.01% |
210,000
+7,000
| +3% | +$260K |
|
37
United Parcel Service
UPS
$86.8B
| $7.86M | 1% |
66,000
| – | – |
|
38
Goodyear
GT
$1.72B
| $7.66M | 0.98% |
237,000
+10,000
| +4% | +$318K |
|
39
Visa
V
$693B
| $7.64M | 0.97% |
67,000
-8,000
| -11% | -$883K |
|
40
Comcast
CMCSA
$95.3B
| $7.61M | 0.97% |
190,000
| – | – |
|
41
Newell Brands
NWL
$2.59B
| $7.48M | 0.95% |
242,000
+103,000
| +74% | +$3.55M |
|
42
Axalta
AXTA
$7.75B
| $7.47M | 0.95% |
230,959
-17,000
| -7% | -$538K |
|
43
RTX Corp
RTX
$283B
| $7.46M | 0.95% |
92,956
-1,589
| -2% | -$121K |
|
44
Omnicom Group
OMC
$24B
| $7.45M | 0.95% |
102,300
+53,300
| +109% | +$3.82M |
|
45
JetBlue
JBLU
$1.85B
| $7.28M | 0.93% |
326,000
-10,000
| -3% | -$204K |
|
46
J.M. Smucker
SJM
$13.3B
| $7.21M | 0.92% |
58,000
-28,000
| -33% | -$3.11M |
|
47
Aon
AON
$75.3B
| $7.1M | 0.9% |
53,000
+9,000
| +20% | +$1.28M |
|
48
Coty
COTY
$2.41B
| $7.02M | 0.89% |
353,000
-81,000
| -19% | -$1.38M |
|
49
FedEx
FDX
$76.9B
| $6.74M | 0.86% |
27,000
| – | – |
|
|
BNY
50
Bank of New York Mellon
BNY
$108B
| $6.73M | 0.86% |
125,000
-6,888
| -5% | -$367K |
|
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Robert Olstein's Q4 2017 Portfolio in Review
As of Q4 2017, Robert Olstein held 120 positions worth $785M, up 1.2% from $776M the previous quarter. Its ten largest holdings account for 21% of the portfolio.
Robert Olstein withdrew a net $34.4M in Q4 2017, closing 10 positions and reducing 46 holdings. Its most notable exit was VWR Corporation, an estimated $12.1M position sold in full.
By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 18% a quarter earlier, followed by Financials and Industrials.
Against the trend, Robert Olstein opened a new position in Eaton worth $5.53M.
- Robert Olstein's largest Q4 2017 buy was Eaton: 70,000 shares worth $5.53M.
- Robert Olstein added most to Intel in Q4 2017, an estimated $10.2M increase.
- Robert Olstein's biggest Q4 2017 reduction was Spirit Airlines, Inc., cutting an estimated $5.4M.
- Robert Olstein fully exited VWR Corporation in Q4 2017, selling an estimated $12.1M.
- Robert Olstein's ten largest holdings make up 21% of its $785M portfolio in Q4 2017.
- Robert Olstein opened 8 new positions and closed 10 in Q4 2017.
- Robert Olstein's portfolio value rose 1.2% quarter-over-quarter to $785M.
Based on Olstein Capital Management's 13F filing for Q4 2017, filed 8 Feb 2018.