Continue to site >
Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$18.11

$671 M

0.00%

$0.00

2.14%

Vitals

YTD Return

9.4%

1 yr return

-16.9%

3 Yr Avg Return

-2.2%

5 Yr Avg Return

1.8%

Net Assets

$671 M

Holdings in Top 10

17.3%

52 WEEK LOW AND HIGH

$18.0
$16.26
$22.75

Expenses

OPERATING FEES

Expense Ratio 2.14%

SALES FEES

Front Load N/A

Deferred Load 1.00%

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$18.11

$671 M

0.00%

$0.00

2.14%

OFALX - Profile

Distributions

  • YTD Total Return 9.4%
  • 3 Yr Annualized Total Return -2.2%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.80%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Olstein All Cap Value Fund
  • Fund Family Name
    Olstein
  • Inception Date
    Sep 21, 1995
  • Shares Outstanding
    2226194
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Robert Olstein

Fund Description

The Fund seeks to achieve its objectives by investing primarily in a diversified portfolio of common stocks that the Fund’s investment adviser, Olstein Capital Management, L.P. (“OCM”), believes are significantly undervalued. OCM follows an accounting-driven, value-oriented approach that emphasizes looking behind the numbers of financial statements based on the belief that the price of a common stock may not reflect the intrinsic value of the issuing company’s underlying business. The Fund uses several valuation methods to determine private market value, all of which emphasize expected future free cash flow. Future free cash flow represents the cash that a company is able to generate from operations after any required investment to maintain or expand its asset base (i.e., after required capital expenditures and working capital needs).
When evaluating the value of stocks for the Fund, OCM undertakes an in-depth analysis of financial statements, as it seeks to identify early signs of potential changes in a company’s ability to generate sustainable free cash flow as well as its potential to grow that may not be recognized by the financial markets. When determining sustainable free cash flow and the quality of earnings, OCM assesses the accounting practices and assumptions used to construct financial statements against the economic reality of the company’s business. OCM believes that in-depth analysis of financial statements reveals the success of a company’s strategy, the sustainability of its performance and the impact of management decisions on future cash flow. OCM further believes that such an analysis is more useful to an investor than management forecasts or earnings guidance.
OCM believes stock prices often fall below a company’s private market value as a result of a short-term focus on, or an overreaction to, negative information regarding the company or its industry, or negative overall market psychology. The Fund seeks to capitalize on market volatility and the valuation extremes specific to a company by purchasing its stock at a discount to OCM’s estimate of private market value, which could result in above-average capital appreciation if such discount is corrected by market forces or other catalysts that change perceptions.
The Fund’s bottom-up analysis seeks to identify companies with unique business fundamentals and a competitive edge, which usually provide a greater predictability of future free cash flow. Companies with free cash flow have the potential to enhance shareholder value by increasing dividends, repurchasing shares, reducing debt, engaging in strategic acquisitions, withstanding an economic downturn without adopting harmful short term strategies or being an attractive acquisition target.
The Fund will invest in companies without regard to whether they are conventionally categorized as small, medium, or large capitalization or whether they are characterized as growth, value, cyclical, or
any other category. OCM’s assessment of a company’s intrinsic value relative to its market price is the key determinant influencing all investment decisions. The Fund may invest up to 20% of its net assets in foreign securities that are traded in U.S. dollars, including American Depositary Receipts ("ADRs") and will limit the Fund’s foreign investments to investments in developed countries, rather than countries with developing or emerging markets.
Read More

OFALX - Performance

Return Ranking - Trailing

Period OFALX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.4% -21.2% 27.4% 5.59%
1 Yr -16.9% -61.5% 51.5% 95.09%
3 Yr -2.2%* -24.5% 59.8% 82.53%
5 Yr 1.8%* -18.1% 28.9% 34.82%
10 Yr 3.1%* -16.2% 14.9% 56.17%

* Annualized

Return Ranking - Calendar

Period OFALX Return Category Return Low Category Return High Rank in Category (%)
2022 -26.7% -65.1% 38.0% 96.50%
2021 2.0% -25.3% 29.0% 87.15%
2020 3.2% -8.4% 56.7% 7.78%
2019 5.3% -24.3% 10.4% 22.58%
2018 0.3% -17.8% 21.9% 3.82%

Total Return Ranking - Trailing

Period OFALX Return Category Return Low Category Return High Rank in Category (%)
YTD 9.4% -21.2% 27.4% 5.59%
1 Yr -16.9% -61.5% 61.5% 95.21%
3 Yr -2.2%* -24.5% 59.8% 83.01%
5 Yr 2.0%* -17.1% 31.9% 39.98%
10 Yr 6.1%* -3.3% 21.7% 49.69%

* Annualized

Total Return Ranking - Calendar

Period OFALX Return Category Return Low Category Return High Rank in Category (%)
2022 -26.7% -65.1% 38.0% 96.50%
2021 2.0% -25.3% 29.0% 87.15%
2020 3.2% -8.4% 56.7% 7.78%
2019 5.3% -24.3% 10.4% 22.76%
2018 0.4% -8.9% 21.9% 4.55%

NAV & Total Return History


OFALX - Holdings

Concentration Analysis

OFALX Category Low Category High OFALX % Rank
Net Assets 671 M 390 K 151 B 53.78%
Number of Holdings 89 2 1727 41.29%
Net Assets in Top 10 124 M 2.1 K 32.3 B 58.40%
Weighting of Top 10 17.31% 2.8% 99.2% 95.47%

Top 10 Holdings

  1. U.S. Bank Money Market Deposit Account 5.60%
  2. U.S. Bank Money Market Deposit Account 5.60%
  3. U.S. Bank Money Market Deposit Account 5.60%
  4. U.S. Bank Money Market Deposit Account 5.60%
  5. U.S. Bank Money Market Deposit Account 5.60%
  6. U.S. Bank Money Market Deposit Account 5.60%
  7. U.S. Bank Money Market Deposit Account 5.60%
  8. U.S. Bank Money Market Deposit Account 5.60%
  9. U.S. Bank Money Market Deposit Account 5.60%
  10. U.S. Bank Money Market Deposit Account 5.60%

Asset Allocation

Weighting Return Low Return High OFALX % Rank
Stocks
96.66% 10.06% 125.26% 79.77%
Cash
3.34% -88.20% 89.94% 18.78%
Preferred Stocks
0.00% 0.00% 19.30% 81.06%
Other
0.00% -2.02% 26.80% 78.40%
Convertible Bonds
0.00% 0.00% 3.66% 80.00%
Bonds
0.00% 0.00% 80.18% 80.68%

Stock Sector Breakdown

Weighting Return Low Return High OFALX % Rank
Industrials
19.39% 0.00% 42.76% 4.05%
Consumer Cyclical
15.27% 0.00% 22.74% 3.28%
Healthcare
15.07% 0.00% 35.91% 72.98%
Technology
14.99% 0.00% 54.02% 21.07%
Financial Services
14.66% 0.00% 58.05% 85.04%
Communication Services
10.60% 0.00% 26.58% 5.27%
Basic Materials
3.50% 0.00% 21.69% 48.24%
Real Estate
2.99% 0.00% 90.54% 45.50%
Consumer Defense
2.82% 0.00% 34.10% 93.74%
Energy
0.70% 0.00% 54.00% 95.19%
Utilities
0.00% 0.00% 27.04% 97.94%

Stock Geographic Breakdown

Weighting Return Low Return High OFALX % Rank
US
94.33% 9.63% 121.23% 46.62%
Non US
2.33% 0.00% 45.02% 60.84%

OFALX - Expenses

Operational Fees

OFALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.14% 0.01% 4.02% 1.60%
Management Fee 1.00% 0.00% 1.50% 99.29%
12b-1 Fee 1.00% 0.00% 1.00% 95.75%
Administrative Fee N/A 0.01% 0.50% N/A

Sales Fees

OFALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load 1.00% 0.95% 5.50% 84.66%

Trading Fees

OFALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

OFALX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 488.00% 53.62%

OFALX - Distributions

Dividend Yield Analysis

OFALX Category Low Category High OFALX % Rank
Dividend Yield 0.00% 0.00% 42.06% 92.82%

Dividend Distribution Analysis

OFALX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

OFALX Category Low Category High OFALX % Rank
Net Income Ratio -0.80% -1.51% 4.28% 99.59%

Capital Gain Distribution Analysis

OFALX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Distributions History

View More +

OFALX - Fund Manager Analysis

Managers

Robert Olstein


Start Date

Tenure

Tenure Rank

Sep 21, 1995

26.71

26.7%

Robert A. Olstein is our Chairman, Chief Executive Officer, Chief Investment Officer, and founder. He has long been recognized as one of the financial community’s most astute and original research analysts and money managers, and is a leading expert on looking behind the numbers of financial statements to assess the quality of earnings that a company reports. In 1995, he founded Olstein Capital Management, L.P. and the Olstein All Cap Value Fund. In 1971, Mr. Olstein co-founded The Quality of Earnings Report, a pioneering research service for institutional and professional investors that employed forensic analysis of financial statements and their footnotes to alert institutional investors to deviations between a company’s reported earnings and its economic reality. In the early 1980’s, Mr. Olstein became an investment adviser, applying the Quality of Earnings philosophy as Senior Portfolio Manager/Senior Vice President at Smith Barney where he managed discretionary accounts for individual and institutional investors. Prior to co-founding The Quality of Earnings Report, Mr. Olstein was a Securities Analyst with Scheinman, Hochstin & Trotta and was employed at Arthur Andersen & Co. Mr. Olstein also served as an Instructor of Business Statistics at Hofstra University. Robert Olstein is a member of the CFA Institute and the New York Society of Security Analysts and has contributed to, or authored, numerous articles on corporate reporting and disclosure practices in The Wall Street Journal, Business Week, The New York Times, and Barron’s. He is a past recipient of the Financial Analysts Federation (now CFA Institute) Graham & Dodd Scroll Award (1973), which he received, “in recognition of an outstanding feature article published in the Financial Analyst Journal.” Mr. Olstein was a featured speaker at the CFA Institute’s 2007 Equity Research and Valuation Techniques Conference and authored “Reality Check: Accounting Alerts for Investment Advisors,” which appeared in the January 2006 issue of The CPA Journal. Mr. Olstein also was featured in the 2002 book, Value Investing with the Masters, published by the New York Institute of Finance. Mr. Olstein holds an M.B.A. in Accounting and B.A. in Mathematical Statistics from Michigan State University. Michigan State has recognized Mr. Olstein’s distinguished career by awarding him the 2005 Outstanding Alumni Achievement Award (Broad Graduate School of Management).

Eric Heyman


Start Date

Tenure

Tenure Rank

Oct 31, 2008

13.59

13.6%

Eric R. Heyman is our President, Director of Research, and Portfolio Manager of the Olstein All Cap Value Fund and Olstein Strategic Opportunities Fund. Since joining OCM’s investment research team in January 1996 (within months of the firm’s inception), Mr. Heyman has held positions of increasing responsibility. Mr. Heyman has served as CoLead Portfolio Manager of the Olstein Strategic Opportunities Fund since its launch on November 1, 2006, and as Co-Lead Portfolio Manager of the Olstein All Cap Value Fund since October 31, 2008. In June 2005, Mr. Heyman was appointed Director of Research overseeing the ongoing generation of investment ideas, sector and company coverage and the orderly flow of information throughout the Research Department. In February 2022, Mr. Heyman was appointed President of the firm. He has authored articles on investing for Crain’s Publications and the American Association of Individual Investors (AAIII Journal); he has also been quoted or featured in numerous business media outlets such as The Wall Street Journal, The New York Times, Barron’s, Bloomberg News, Value Investor Insight, GuruFocus Value Investing Live, Money Life with Chuck Jaffe, SmartMoney, The Wall Street Transcript, and the Associated Press. Previously, Mr. Heyman held the position of Accountant with Norstar Energy, a subsidiary of Orange and Rockland Utility. Mr. Heyman holds a B.B.A. in Accounting from Pace University.

Timothy Kang


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Timothy S. Kang is a Senior Vice President and Portfolio Manager. Mr. Kang is a Portfolio Manager of the Olstein All Cap Value Fund and Olstein Strategic Opportunities Fund. He joined OCM’s investment research team in 2006. In 2022, Mr. Kang was promoted to the position of Portfolio Manager. Previously, he was promoted to the position of Senior Vice President and Senior Research Analyst in 2013. Mr. Kang has been quoted or featured in several business media outlets such as Barron’s, The Wall Street Journal Transcript, Bloomberg News, Bottom Line Personal, and GuruFocus Value Investing Live. Before joining OCM, he held the position of Vice President, Equity Research Analyst with Citigroup Asset Management covering Asia ex-Japan financial stocks, and assisted in covering U.S. bank stocks. Prior to that, he was an Assistant Vice President at PPM America, Inc., serving as a member of the high-yield bank loan team working on private bank loan transactions in all industry sectors. Mr. Kang has also served as a Senior Auditor at Arthur Andersen, L.L.P. Mr. Kang holds an M.S. in Accountancy from DePaul University, and a B.S.Sp. with a concentration in Economics from Northwestern University.

John Sullivan


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

John D. Sullivan, Jr., is a Vice President and Portfolio Manager. Mr. Sullivan is a Portfolio Manager of the Olstein All Cap Value Fund and Olstein Strategic Opportunities Fund. He joined OCM’s investment research team in 2005 as a Research Analyst. In 2022, Mr. Sullivan was promoted to the position of Portfolio Manager. Previously, he was promoted to the position of Vice President in 2013. John has been actively involved in the firm’s client servicing efforts providing portfolio updates in meetings with financial intermediaries, advisors and consultants. Mr. Sullivan holds a B.S. in Business Administration with a concentration in Finance and a minor in Economics from Fordham University. Mr. Sullivan is a CFA charterholder, member of the CFA Institute and New York Society of Security Analysts.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.09 86.59 7.87 16.42