While many companies, fearful of the economy or not wanting to pay repatriation taxes on foreign profits, have been hoarding cash in recent years, Validea CEO John Reese says that others have been putting their cash to use for shareholders.

“The fact that they’re not seeing enough of their companies’ green has many investors seeing red, including Greenlight Capital’s David Einhorn,” Reese writes in his latest Nasdaq.com article. “The hedge fund guru is suing Apple over the way it plans to use — or not use — its huge pile of cash. But not all firms have been hoarding their cash. Over the past couple years many companies have increased their dividend payouts or bought back significant amounts of their own shares, both of which enhance shareholder value.”

Reese looks at four companies that have been putting their cash to work, and which get approval from his Guru Strategies (each of which is based on the approach of a different investing great). Among them: O’Reilly Automotive, which has a $3-billion share buyback plan in place and gets approval from Reese’s Peter Lynch-based model.