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 |
Smith & Wesson
SWBI
|
+$9.73M |
| 2 |
Dorman Products
DORM
|
+$8.21M |
| 3 |
Dover
DOV
|
+$5.66M |
| 4 |
Universal Health Services
UHS
|
+$5.31M |
| 5 |
FNFG
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
|
+$5.28M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BRSL
Brightstar Lottery PLC
BRSL
|
+$14.9M |
| 2 |
URS
URS CORP
URS
|
+$10.6M |
| 3 |
ANN
ANN INC
ANN
|
+$6.92M |
| 4 |
PETM
PETSMART INC
PETM
|
+$5.5M |
| 5 |
SAVE
Spirit Airlines, Inc.
SAVE
|
+$5.11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 24.63% |
| 2 | Industrials | 19.27% |
| 3 | Healthcare | 16.34% |
| 4 | Technology | 12.77% |
| 5 | Financials | 12.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Jones Lang LaSalle
JLL
$17.8B
| $7.08M | 0.92% |
56,000
-5,000
| -8% | -$651K |
|
52
Itron
ITRI
$4.38B
| $7.03M | 0.92% |
178,900
-16,466
| -8% | -$659K |
|
53
Regal Rexnord
RRX
$11.1B
| $7M | 0.91% |
109,000
+33,000
| +43% | +$2.37M |
|
|
SEE
54
DELISTED
Sealed Air
SEE
| $6.98M | 0.91% |
200,000
+25,000
| +14% | +$865K |
|
55
Intuitive Surgical
ISRG
$134B
| $6.93M | 0.9% |
135,000
-18,000
| -12% | -$894K |
|
56
DNOW Inc
DNOW
$2.83B
| $6.69M | 0.87% |
220,000
+81,000
| +58% | +$2.65M |
|
57
Teleflex
TFX
$5.88B
| $6.62M | 0.86% |
63,000
| – | – |
|
58
Zoetis
ZTS
$32.1B
| $6.58M | 0.86% |
178,000
| – | – |
|
|
BIG
59
DELISTED
Big Lots, Inc.
BIG
| $6.32M | 0.82% |
146,800
-27,200
| -16% | -$1.24M |
|
60
Unifirst Corp
UNF
$5.25B
| $6.28M | 0.82% |
65,000
+13,000
| +25% | +$1.29M |
|
61
TJX Companies
TJX
$155B
| $6.15M | 0.8% |
208,000
+12,000
| +6% | +$338K |
|
62
Becton Dickinson
BDX
$52.3B
| $6.15M | 0.8% |
55,350
| – | – |
|
63
Ralph Lauren
RL
$22.2B
| $6.09M | 0.79% |
37,000
| – | – |
|
|
MRSH
64
Marsh
MRSH
$91.6B
| $5.65M | 0.74% |
108,000
| – | – |
|
65
Fossil Group
FOSL
$332M
| $5.54M | 0.72% |
59,000
+23,000
| +64% | +$2.32M |
|
|
RKT
66
DELISTED
ROCK-TENN COMPANY CL-A
RKT
| $5.52M | 0.72% |
116,000
+32,000
| +38% | +$1.59M |
|
67
American Express
AXP
$227B
| $5.51M | 0.72% |
63,000
+8,000
| +15% | +$720K |
|
68
Entegris
ENTG
$22B
| $5.43M | 0.71% |
472,000
-67,000
| -12% | -$824K |
|
69
TE Connectivity
TEL
$58.9B
| $5.42M | 0.71% |
98,000
+25,000
| +34% | +$1.55M |
|
70
Verizon
VZ
$205B
| $5.4M | 0.7% |
108,000
| – | – |
|
71
Qualcomm
QCOM
$169B
| $5.38M | 0.7% |
72,000
+15,000
| +26% | +$1.15M |
|
72
Masco
MAS
$14.5B
| $5.33M | 0.69% |
253,774
+48,934
| +24% | +$967K |
|
|
73
Universal Health Services
UHS
$10.4B
| $5.22M | 0.68% |
+50,000
| New | +$5.31M |
|
|
74
Dover
DOV
$27.2B
| $5.22M | 0.68% |
+80,470
| New | +$5.66M |
|
|
CB
75
DELISTED
CHUBB CORPORATION
CB
| $5.19M | 0.68% |
57,000
| – | – |
|
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Robert Olstein's Q3 2014 Portfolio in Review
As of Q3 2014, Robert Olstein held 132 positions worth $768M, up 3.7% from $741M the previous quarter. Its ten largest holdings account for 15% of the portfolio.
Robert Olstein deployed $37.9M of net new capital in Q3 2014, opening 9 new positions and adding to 48 existing holdings. Its largest new stake was Dover: 80,470 shares worth $5.22M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 25% of assets, down from 26% a quarter earlier, followed by Industrials and Healthcare.
On the sell side, the largest reduction was PETSMART INC, an estimated $5.5M trimmed.
- Robert Olstein's largest Q3 2014 buy was Dover: 80,470 shares worth $5.22M.
- Robert Olstein added most to Smith & Wesson in Q3 2014, an estimated $9.73M increase.
- Robert Olstein's biggest Q3 2014 reduction was PETSMART INC, cutting an estimated $5.5M.
- Robert Olstein fully exited Brightstar Lottery PLC in Q3 2014, selling an estimated $14.9M.
- Robert Olstein's ten largest holdings make up 15% of its $768M portfolio in Q3 2014.
- Robert Olstein opened 9 new positions and closed 7 in Q3 2014.
- Robert Olstein's portfolio value rose 3.7% quarter-over-quarter to $768M.
Based on Olstein Capital Management's 13F filing for Q3 2014, filed 14 Nov 2014.