Insights into Olstein's Latest 13F Filings and Investment Adjustments
Robert A. Olstein, the Chairman and Chief Investment Officer of the Olstein Financial Alert Fund (OFALX), is renowned for his expertise in corporate financial disclosure and reporting practices. Since co-founding the "Quality of Earnings Report" service in 1971, Olstein has been a pioneer in using inferential financial screening techniques to analyze balance sheets and income statements. His investment philosophy focuses on a "defense first" approach, prioritizing financial strength and potential downside risk over mere appreciation potential. Olstein's recent 13F filing for the third quarter of 2024 reveals significant moves in his portfolio, including new buys, position increases, and some strategic exits.
Summary of New Buys
During the third quarter of 2024, Robert Olstein (Trades, Portfolio) expanded his portfolio by adding two new stocks:
- Nasdaq Inc (NDAQ, Financial) with 59,000 shares, making up 0.73% of the portfolio and valued at $4.31 million.
- Honeywell International Inc (HON, Financial) with 14,000 shares, representing 0.49% of the portfolio and totaling $2.89 million.
Key Position Increases
Olstein also made notable increases in several existing positions:
- The Walt Disney Co (DIS, Financial) saw an addition of 38,000 shares, bringing the total to 157,000 shares. This adjustment increased the share count by 31.93% and impacted the portfolio by 0.62%, with a total value of $15.1 million.
- Vontier Corp (VNT, Financial) with an additional 103,000 shares, bringing the total to 307,000. This represents a 50.49% increase in share count, valued at $10.36 million.
Summary of Sold Out Positions
Olstein completely exited the following positions in Q3 2024:
- Warner Bros. Discovery Inc (WBD, Financial), selling all 365,000 shares, impacting the portfolio by -0.48%.
- Universal Health Services Inc (UHS, Financial), liquidating all 10,000 shares, with a -0.33% impact on the portfolio.
Key Position Reductions
Significant reductions were made in several holdings:
- ABM Industries Inc (ABM, Financial) was reduced by 100,953 shares, a 34.82% decrease, impacting the portfolio by -0.91%. The stock traded at an average price of $52.88 during the quarter and has seen a -4.08% return over the past three months and a 20.62% year-to-date return.
- Jones Lang LaSalle Inc (JLL, Financial) saw a reduction of 16,500 shares, a 37.5% decrease, impacting the portfolio by -0.6%. The stock traded at an average price of $242.49 during the quarter and has returned 8.00% over the past three months and 43.46% year-to-date.
Portfolio Overview
As of the third quarter of 2024, Robert Olstein (Trades, Portfolio)'s portfolio included 98 stocks. The top holdings were:
- 2.57% in The Walt Disney Co (DIS, Financial)
- 2.26% in Sensata Technologies Holding PLC (ST, Financial)
- 1.89% in Kulicke & Soffa Industries Inc (KLIC, Financial)
- 1.81% in United Parcel Service Inc (UPS, Financial)
- 1.78% in Baxter International Inc (BAX, Financial)
The holdings are predominantly concentrated in 10 of the 11 industries, including Industrials, Healthcare, Technology, Financial Services, Consumer Cyclical, Communication Services, Basic Materials, Real Estate, Consumer Defensive, and Energy.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
