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 |
Korn Ferry
KFY
|
+$6.21M |
| 2 |
International Flavors & Fragrances
IFF
|
+$6.16M |
| 3 |
Citizens Financial Group
CFG
|
+$3.66M |
| 4 |
Deere & Co
DE
|
+$3.52M |
| 5 |
CVS Health
CVS
|
+$3.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ScottsMiracle-Gro
SMG
|
+$8.3M |
| 2 |
Generac Holdings
GNRC
|
+$7.24M |
| 3 |
Booking.com
BKNG
|
+$6.75M |
| 4 |
Meta Platforms (Facebook)
META
|
+$6.64M |
| 5 |
FedEx
FDX
|
+$4.16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 19.38% |
| 2 | Consumer Discretionary | 16.17% |
| 3 | Financials | 15.13% |
| 4 | Technology | 14.64% |
| 5 | Healthcare | 14.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
International Flavors & Fragrances
IFF
$21.5B
| $8.28M | 1.3% |
90,000
+62,000
| +221% | +$6.16M |
|
27
Intel
INTC
$476B
| $8.2M | 1.28% |
251,000
-74,000
| -23% | -$2.1M |
|
28
Becton Dickinson
BDX
$52.3B
| $8.17M | 1.28% |
33,000
| – | – |
|
29
General Motors
GM
$77.2B
| $8.11M | 1.27% |
221,000
+8,000
| +4% | +$302K |
|
30
Medtronic
MDT
$119B
| $8.06M | 1.26% |
100,000
| – | – |
|
31
Quest Diagnostics
DGX
$27B
| $7.78M | 1.22% |
55,000
+9,000
| +20% | +$1.29M |
|
32
US Bancorp
USB
$96.7B
| $7.71M | 1.21% |
214,000
+51,000
| +31% | +$2.27M |
|
33
Goldman Sachs
GS
$303B
| $7.69M | 1.2% |
23,500
+2,500
| +12% | +$870K |
|
34
Winnebago Industries
WGO
$898M
| $7.65M | 1.2% |
132,622
-4,365
| -3% | -$266K |
|
35
Southwest Airlines
LUV
$19.8B
| $7.65M | 1.2% |
235,000
+63,000
| +37% | +$2.14M |
|
36
Fidelity National Information Services
FIS
$21.3B
| $7.61M | 1.19% |
140,000
-4,497
| -3% | -$293K |
|
37
RTX Corp
RTX
$283B
| $7.54M | 1.18% |
77,000
-6,000
| -7% | -$591K |
|
38
Cummins
CMI
$80.9B
| $7.53M | 1.18% |
31,500
+1,000
| +3% | +$244K |
|
39
Microsoft
MSFT
$3.59T
| $7.5M | 1.17% |
26,000
-7,000
| -21% | -$1.79M |
|
40
Corteva
CTVA
$54.6B
| $7.48M | 1.17% |
124,000
+6,000
| +5% | +$366K |
|
41
Wells Fargo
WFC
$254B
| $7.48M | 1.17% |
200,000
+18,000
| +10% | +$785K |
|
42
Carrier Global
CARR
$49.8B
| $7.46M | 1.17% |
163,000
-22,000
| -12% | -$985K |
|
|
FITB
43
Fifth Third Bancorp
FITB
$49.7B
| $7.43M | 1.16% |
279,000
+85,000
| +44% | +$2.82M |
|
44
Corning
GLW
$129B
| $7.37M | 1.16% |
209,000
-52,000
| -20% | -$1.81M |
|
45
CBRE Group
CBRE
$44B
| $7.35M | 1.15% |
101,000
+6,000
| +6% | +$490K |
|
46
Zimmer Biomet
ZBH
$19.3B
| $7.11M | 1.11% |
55,000
-2,000
| -4% | -$251K |
|
47
Tapestry
TPR
$26B
| $7.07M | 1.11% |
164,000
-78,000
| -32% | -$3.35M |
|
48
L3Harris
LHX
$49.7B
| $6.8M | 1.07% |
34,638
+8,638
| +33% | +$1.77M |
|
49
Cushman & Wakefield Ltd
CWK
$3.48B
| $6.77M | 1.06% |
642,000
+75,000
| +13% | +$965K |
|
50
Axalta
AXTA
$7.75B
| $6.75M | 1.06% |
222,997
-102,453
| -31% | -$2.94M |
|
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Robert Olstein's Q1 2023 Portfolio in Review
As of Q1 2023, Robert Olstein held 102 positions worth $638M, up 0.13% from $637M the previous quarter. Its ten largest holdings account for 18% of the portfolio.
Robert Olstein withdrew a net $25.3M in Q1 2023, closing 2 positions and reducing 48 holdings. Its most notable exit was ScottsMiracle-Gro, an estimated $8.3M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 19% of assets, up from 19% a quarter earlier, followed by Consumer Discretionary and Financials.
Against the trend, Robert Olstein opened a new position in Korn Ferry worth $5.95M.
- Robert Olstein's largest Q1 2023 buy was Korn Ferry: 115,000 shares worth $5.95M.
- Robert Olstein added most to International Flavors & Fragrances in Q1 2023, an estimated $6.16M increase.
- Robert Olstein's biggest Q1 2023 reduction was Generac Holdings, cutting an estimated $7.24M.
- Robert Olstein fully exited ScottsMiracle-Gro in Q1 2023, selling an estimated $8.3M.
- Robert Olstein's ten largest holdings make up 18% of its $638M portfolio in Q1 2023.
- Robert Olstein opened 4 new positions and closed 2 in Q1 2023.
- Robert Olstein's portfolio value rose 0.13% quarter-over-quarter to $638M.
Based on Olstein Capital Management's 13F filing for Q1 2023, filed 2 May 2023.