Every quarter, mutual fund managers publicly disclose their quarter-end holdings. Although they don't typically disclose intraquarter trades, the information can illuminate long stock bets.
Let's take a look at what moves Olstein Capital Management made over the past quarter.
Meet Olstein Capital Management
Robert Olstein is the chairman and founder of Olstein Capital Management. The total market value of its disclosed equity holdings as of March 31, 2011 -- the latest quarter for which data is available -- was $579 million across 91 holdings.
The fund's 10 largest positions (by value) and associated changes as of March 31 were:
-- no change. (Nasdaq: INTC)
-- increased 20.6%. (NYSE: M)
Dr Pepper Snapple Group
-- increased 1%. (NYSE: DPS)
-- increased 15.1%. (NYSE: XRX)
-- increased 8.3%. (Nasdaq: MSFT)
-- no change. (NYSE: TFX)
-- increased 2.2%. (NYSE: AB)
-- increased 15.7%. (NYSE: LM)
-- no change. (NYSE: AXP)
-- increased 10%. (NYSE: BDX)
Outside the top 10 holdings:
- Rising positions: The fund increased its positions in Entegris and Steinway Musical Instruments.
- Falling positions: The fund reduced its exposure to Teradyne and Henry Schein.
- Eliminated positions: During the quarter, the fund sold out of several stock positions, including RadioShack.
Selected Q1 2011 commentary
Olstein Capital Management has a highly diversified portfolio, with consumer discretionary, health-care, and technology stocks making up the biggest portions of the portfolio. Here's where the firm is winning and losing, and making new bets, at the moment:
- Current winner: Teleflex was up 8.4% during the first quarter.
- Current loser: Microsoft fell 9% in the first three months of the year.
- New bets: New additions include Jones Lang Lasalle, among many others.
So there you have it -- the blow-by-blow of Olstein Capital Management's latest moves. Tell us what you think in the comments section below.
The Motley Fool owns shares of Microsoft and RadioShack. The Fool owns shares of and has bought calls on Intel. Motley Fool newsletter services have recommended buying shares of Jones Lang Lasalle, Microsoft, Teleflex, Becton, and Intel, as well as creating diagonal call positions on Intel and Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.