Olstein Capital Management’s Q4 2021 Investor Letter

Olstein Capital Management, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be seen here. The market leader for the last three years has emphasized fundamentals and valuation. The recent market correction has resulted in many more free cash flow companies falling into the fundamentally undervalued category. The All Cap Value Fund had an approximately 18% cash position at the top of the recent pandemic rally is now down to approximately 5%, as the fund has restocked the portfolio with what they believe are high-quality free cash flow fundamental value plays that moved into our price range during the recent correction. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.