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 |
WRK
WestRock Company
WRK
|
+$14.4M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$5.9M |
| 3 |
Walt Disney
DIS
|
+$4.92M |
| 4 |
Zebra Technologies
ZBRA
|
+$4.74M |
| 5 |
Citizens Financial Group
CFG
|
+$4.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Itron
ITRI
|
+$10.3M |
| 2 |
ESL
Esterline Technologies
ESL
|
+$9.88M |
| 3 |
JOY
Joy Global Inc
JOY
|
+$8.55M |
| 4 |
SAVE
Spirit Airlines, Inc.
SAVE
|
+$8.25M |
| 5 |
Designer Brands
DBI
|
+$7.49M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.33% |
| 2 | Industrials | 21.78% |
| 3 | Financials | 18.3% |
| 4 | Technology | 14.35% |
| 5 | Healthcare | 13.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Johnson Controls International
JCI
$86.7B
| – | – |
-137,520
| Closed | -$5.69M |
|
102
MSC Industrial Direct
MSM
$6.69B
| – | – |
-66,000
| Closed | -$3.71M |
|
103
OneSpan
OSPN
$580M
| – | – |
-407,300
| Closed | -$6.81M |
|
104
Standard Motor Products
SMP
$863M
| – | – |
-56,900
| Closed | -$2.17M |
|
105
ExxonMobil
XOM
$679B
| – | – |
-10,000
| Closed | -$779K |
|
|
ESL
106
DELISTED
Esterline Technologies
ESL
| – | – |
-122,000
| Closed | -$9.88M |
|
|
JOY
107
DELISTED
Joy Global Inc
JOY
| – | – |
-678,000
| Closed | -$8.55M |
|
|
BLT
108
DELISTED
BLOUNT INTERNATIONAL (NEW)
BLT
| – | – |
-240,000
| Closed | -$2.35M |
|
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Robert Olstein's Q1 2016 Portfolio in Review
As of Q1 2016, Robert Olstein held 108 positions worth $748M, down 3.3% from $774M the previous quarter. Its ten largest holdings account for 21% of the portfolio.
Robert Olstein withdrew a net $45.5M in Q1 2016, closing 10 positions and reducing 40 holdings. Its most notable exit was Itron, an estimated $10.3M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 20% a quarter earlier, followed by Industrials and Financials.
Against the trend, Robert Olstein opened a new position in WestRock Company worth $15.6M.
- Robert Olstein's largest Q1 2016 buy was WestRock Company: 443,405 shares worth $15.6M.
- Robert Olstein added most to Express Scripts Holding Company in Q1 2016, an estimated $5.9M increase.
- Robert Olstein's biggest Q1 2016 reduction was Spirit Airlines, Inc., cutting an estimated $8.25M.
- Robert Olstein fully exited Itron in Q1 2016, selling an estimated $10.3M.
- Robert Olstein's ten largest holdings make up 21% of its $748M portfolio in Q1 2016.
- Robert Olstein opened 7 new positions and closed 10 in Q1 2016.
- Robert Olstein's portfolio value fell 3.3% quarter-over-quarter to $748M.
Based on Olstein Capital Management's 13F filing for Q1 2016, filed 9 May 2016.