Olstein Strategic Opportunities Fund
Highlights & Facts
Olstein Strategic Opportunities Fund seeks long-term capital appreciation by investing primarily in the undervalued equity securities of small- to mid-cap companies that face unique strategic choices, challenges, or problems. The Fund may also engage in shareholder activism as a form of value investing.
Investment Process Highlights
- Seeks long-term capital appreciation by investing primarily in the undervalued equity securities of small- to mid-size companies that face unique strategic choices, challenges or problems.
- Analysis focuses on how a company's operations generate sustainable free cash flow; how much cash is available to investors and the level of ongoing investment required to maintain and grow free cash flow.
- Valuations based on free cash flow. Reliable valuations require: determining if a company's accounting policies reflect business reality; assessing a company's Quality of Earnings; adjustments to eliminate management bias; and identifying positive or negative factors that may affect future free cash flow.
Fund Facts
| Adviser Class | Class A | Class C | |
|---|---|---|---|
| Ticker Symbol | OFSFX | OFSAX | OFSCX |
| CUSIP | 56167N571 | 56167N597 | 56167N589 |
| Inception Date | 5/11/2015 | 11/1/2006 | 11/1/2006 |
| Gross Expense Ratio | 1.52% | 1.77% | 2.52% |
| Net Expense Ratio3 | 1.35% | 1.60% | 2.35% |
| NAV (9/30/24) | $22.88 | $22.38 | $18.98 |
| Minimum Initial Investment | $1,000 | $1,000 | $1,000 |
| Maximum Initial Sales Load | None | 5.50% | None |
| Maximum CDSC | None | None1 | 1.00%2 |
| Redemption Fees | None | None | None |
1. Purchases of $1MM or more, or purchases into account(s) with accumulated value of $1MM or more that were not subject to a front-end sales charge are subject to a CDSC of 1.00% if sold within one year of purchase.
2. There is no CDSC if you redeem Class C shares more than one year after purchase. The CDSC may be waived under certain circumstances. Please refer to the Prospectus for more information.
3. Olstein Capital Management, the Adviser, has contractually agreed to waive certain fees/expenses until October 28, 2025. Performance would have been lower without waivers in effect.
Portfolio Statistics
| Portfolio Holdings | 37 |
| Annualized Portfolio Turnover | 41.56% |
| Net Assets | $75.36 million |
| Average Market Cap | $5.21 billion |
| Weighted Average Market Cap | $4.83 billion |
| Market Cap Breakdown (% of equity) Large Cap (>$10Bn - $100Bn) Mid Cap (>$2Bn - $10Bn) Small Cap ($200MM - $2Bn) Micro Cap (<200MM) |
11.41% 60.30% 28.29% 0.00% |
|---|
An investment in a portfolio containing small- and mid-cap companies is subject to additional risks, as the share prices of small- and mid-cap companies are often more volatile than those of larger companies due to several factors, including limited trading volumes, products, financial resources, management inexperience and less publicly available information.
Top Ten Holdings
| Sensata Technologies Holding | 4.66% |
| Gates Industrial Corp plc | 4.39% |
| The Shyft Group Inc | 4.23% |
| Dine Brands Global Inc | 4.20% |
| Integra LifeSciences Holdings Corp | 3.89% |
| Prestige Consumer Healthcare Inc | 3.49% |
| Kulicke And Soffa Industries, Inc | 3.48% |
| ABM Industries Inc | 3.43% |
| Vontier Corporation | 3.40% |
| Central Garden and Pet Co Class A | 3.30% |
| Top Ten Holdings Total | 38.47% |
Top Five Industry Group Classifications (% of equity)
| Capital Goods | 31.87% |
| Commercial and Professional Services | 9.29% |
| Banks | 9.27% |
| Consumer Services | 7.34% |
| Technology Hardware & Equipment | 6.54% |
| Total Top Five Industry Groups | 64.31% |
The Fund is actively managed and may not meet its investment objective or may underperform the market. Small- and mid-sized companies may be more vulnerable to adverse business or economic events than larger, more established companies. Value stocks may not increase in price as anticipated by OCM (and may actually decline in price) if other investors fail to recognize the stock's value or if a catalyst that OCM believes will increase the price of the stock does not occur or does not affect the price of the stock in the manner or to the degree anticipated. Investing in foreign companies typically involves more risks than investing in U.S. companies which can increase the potential for losses and may include risks related to currency exchange rate fluctuations, country or government specific issues, unfavorable trading practices, less government supervision, less publicly available information, limited trading markets and greater volatility.