Generac Holdings Inc. Sees Significant Liquidation in Olstein's Latest Portfolio Update
Renowned investor Robert Olstein (Trades, Portfolio) recently disclosed his portfolio updates for Q3 2023 in a 13F filing. As the Chairman and Chief Investment Officer of the Olstein Financial Alert Fund (OFALX), Olstein is recognized for his expertise in corporate financial disclosure and reporting practices. His investment strategy is rooted in a detailed analysis of a company's financial statement, focusing on financial strength and potential downside risk. This "defense first" approach aims to minimize investment errors and prioritize companies that generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, and sell at a discount to the private market value.
New Additions to the Portfolio
During Q3 2023, Olstein added a total of one stock to his portfolio:
- The most significant addition was First Advantage Corp (FA, Financial), with 20,000 shares, accounting for 0.05% of the portfolio and a total value of $280,000.
Significant Position Increases
Olstein also increased stakes in a total of 52 stocks, including:
- Cracker Barrel Old Country Store Inc (CBRL, Financial), with an additional 46,099 shares, bringing the total to 109,000 shares. This represents a significant 73.29% increase in share count, a 0.53% impact on the current portfolio, and a total value of $7,330,000.
- Stanley Black & Decker Inc (SWK, Financial), with an additional 33,000 shares, bringing the total to 66,000. This represents a significant 100% increase in share count, and a total value of $5,520,000.
Major Liquidations
Olstein completely exited two of its holdings in Q3 2023, as detailed below:
- Generac Holdings Inc (GNRC, Financial): Robert Olstein (Trades, Portfolio) sold all 77,500 shares, resulting in a -1.87% impact on the portfolio.
- Tapestry Inc (TPR, Financial): Robert Olstein (Trades, Portfolio) liquidated all 172,000 shares, causing a -1.19% impact on the portfolio.
Key Position Reductions
Olstein also reduced its positions in 29 stocks. The most significant changes include:
- Reduced Carrier Global Corp (CARR, Financial) by 98,192 shares, resulting in a -54.55% decrease in shares and a -0.79% impact on the portfolio. The stock traded at an average price of $55.03 during the quarter and has returned 8.12% over the past 3 months and 35.48% year-to-date.
- Reduced Cisco Systems Inc (CSCO, Financial) by 39,000 shares, resulting in a -18.75% reduction in shares and a -0.33% impact on the portfolio. The stock traded at an average price of $53.95 during the quarter and has returned 5.56% over the past 3 months and 16.54% year-to-date.
Portfolio Overview
As of Q3 2023, Olstein's portfolio included 100 stocks, with top holdings in Sensata Technologies Holding PLC (ST, Financial), Warner Bros. Discovery Inc (WBD, Financial), The Walt Disney Co (DIS, Financial), ABM Industries Inc (ABM, Financial), and CVS Health Corp (CVS, Financial). The holdings are mainly concentrated in 10 of all the 11 industries: Industrials, Financial Services, Consumer Cyclical, Healthcare, Technology, Communication Services, Basic Materials, Consumer Defensive, Real Estate, 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.
