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.

• Warning! GuruFocus has detected 5 Warning Signs with DIS.

Summary of New Buys

During the third quarter of 2024, Robert Olstein (Trades, Portfolio) expanded his portfolio by adding two new stocks:

• Nasdaq Inc (NASDAQ:NDAQ) with 59,000 shares, making up 0.73% of the portfolio and valued at $4.31 million.

• Honeywell International Inc (NASDAQ:HON) 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 (NYSE:DIS) 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 (NYSE:VNT) 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 (NASDAQ:WBD), selling all 365,000 shares, impacting the portfolio by -0.48%.

• Universal Health Services Inc (NYSE:UHS), 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 (NYSE:ABM) 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 (NYSE:JLL) 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.