Value investor Robert Olstein of Olstein Capital Management has completely sold off his firm's stake in Johnson & Johnson, according to a recent quarterly filing. The disclosure, which reflects trades made between March 31 and June 30, 2026, shows the firm liquidated its entire position of 24,500 shares. Before the sale, the Johnson & Johnson holding represented 1.31% of the fund's reported portfolio.
Investors should be aware that these mandatory 13F filings are released with a delay, so this trade could have occurred at any point during the second quarter. The sale comes at a time when Johnson & Johnson reported strong second-quarter results and raised its full-year financial outlook. Olstein is known for a 'defense first' investment approach, focusing on companies with strong free cash flow and avoiding aggressive accounting practices.