13F-HR 1 olst13f093006.txt OLSTEIN 13F REPORT FOR 09/30/06 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2006 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): /__/ is a restatement. /__/ adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Olstein Capital Management, L.P. (formerly known as Olstein & Associates, L.P.) Address: 4 Manhattanville Road Purchase, NY 10577 Form 13F File Number: 028-05485 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Michael Luper Title: Executive Vice President Phone: (914) 269-6100 Signature, Place, and Date of Signing: /s/ Michael Luper MICHAEL LUPER Purchase, NY November 14, 2006 Report Type (Check only one.): /X/ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) /_/ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) /_/ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE Form 13F Summary Page Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 57 Form 13F Information Table Value Total: $ 1,536,870 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 28-4024 Smith Barney Fund Management LLC

(OLSTEIN CAPITAL MANAGEMENT, L.P. (formerly knwon as OLSTEIN & ASSOCIATES, L.P.) FORM 13F INFORMATION TABLE AS OF 9/30/2006 (COLUMN 1) (COLUMN 2) (COLUMN 3) (COLUMN 4) (COLUMN 5)(COLUMN 6)(COLUMN 7)(COLUMN 8)(COLUMN 9)(COLUMN 10) NAME OF TITLE OF CUSIP VALUE SHRS OR INVESTMENT DISCRETION OTHER VOTING AUTHORITY ISSUER CLASS (X$1000) PRN AMT* (SOLE) (SHARED) MANAGERS (SOLE) (SHARED) 3COM CORP Common 885535104 14,296 3,241,800 2,917,300 324,500 2,917,300 324,500 3M CO Common 88579Y101 25,057 336,700 303,500 33,200 303,500 33,200 ADAPTEC INC Common 00651F108 23,044 5,225,500 4,702,000 523,500 4,702,000 523,500 AMERICAN EXPRESS CO Common 025816109 22,124 394,500 355,500 39,000 355,500 39,000 AMERICAN INTL GROUP INC Common 026874107 44,739 675,200 608,300 66,900 608,300 66,900 APPLE COMPUTER INC Common 037833100 36,949 479,700 432,600 47,100 432,600 47,100 ATMEL CORP Common 049513104 22,418 3,711,600 3,347,300 364,300 3,347,300 364,300 AVERY DENNISON CORP Common 053611109 14,850 246,800 222,100 24,700 222,100 24,700 BANK OF AMERICA CORPORATION Common 060505104 33,251 620,700 554,700 66,000 554,700 66,000 BAXTER INTL INC Common 071813109 19,580 430,700 388,200 42,500 388,200 42,500 BLOUNT INTL INC NEW Common 095180105 21,509 2,146,600 1,935,200 211,400 1,935,200 211,400 BURGER KING HLDGS INC Common 121208201 11,798 739,200 665,600 73,600 665,600 73,600 CARTER INC Common 146229109 14,979 567,600 511,800 55,800 511,800 55,800 CHEESECAKE FACTORY INC Common 163072101 25,820 949,600 856,000 93,600 856,000 93,600 CHESAPEAKE ENERGY CORP Common 165167107 25,844 891,800 801,900 89,900 801,900 89,900 CISCO SYS INC Common 17275R102 35,537 1,545,200 1,393,500 151,700 1,393,500 151,700 CKE RESTAURANTS INC Common 12561E105 19,076 1,140,900 1,025,000 115,900 1,025,000 115,900 CLAIRES STORES INC Common 179584107 27,405 939,800 847,300 92,500 847,300 92,500 CLEVELAND CLIFFS INC Common 185896107 26,974 707,800 637,000 70,800 637,000 70,800 COMMSCOPE INC Common 203372107 9,069 276,000 248,700 27,300 248,700 27,300 DEL MONTE FOODS CO Common 24522P103 26,195 2,506,700 2,259,700 247,000 2,259,700 247,000 DIGITAL RIV INC Common 25388B104 5,112 100,000 91,300 8,700 91,300 8,700 DISNEY WALT CO Common 254687106 36,097 1,167,800 1,052,400 115,400 1,052,400 115,400 ENERGY CONVERSION DEVICES INC COM Common 292659109 20,202 545,400 490,900 54,500 490,900 54,500 FEDERATED DEPT STORES INC DEL COM Common 31410H101 43,236 1,000,600 900,400 100,200 900,400 100,200 FINISH LINE INC Common 317923100 27,755 2,199,300 1,983,800 215,500 1,983,800 215,500 FOOT LOCKER INC Common 344849104 23,586 934,100 842,700 91,400 842,700 91,400 HARLAND JOHN H CO Common 412693103 14,051 385,500 347,500 38,000 347,500 38,000 HASBRO INC Common 418056107 29,379 1,291,400 1,161,400 130,000 1,161,400 130,000 INTERMEC INC Common 458786100 19,535 741,100 668,000 73,100 668,000 73,100 JANUS CAP GROUP INC Common 47102X105 31,694 1,607,200 1,446,200 161,000 1,446,200 161,000 JO-ANN STORES INC Common 47758P307 35,104 2,099,500 1,888,900 210,600 1,888,900 210,600 JONES APPAREL GROUP INC Common 480074103 23,269 717,300 645,400 71,900 645,400 71,900 LOWES COS INC Common 548661107 15,655 557,900 502,900 55,000 502,900 55,000 MARSH & MCLENNAN COS INC Common 571748102 65,629 2,331,400 2,101,000 230,400 2,101,000 230,400 MCDONALDS CORP Common 580135101 39,597 1,012,200 907,650 104,550 907,650 104,550 MERRILL LYNCH & CO INC Common 590188108 14,791 189,100 167,100 22,000 167,100 22,000 MOLSON COORS BREWING CO Common 60871R209 35,980 522,200 470,700 51,500 470,700 51,500 MORGAN STANLEY Common 617446448 24,483 335,800 305,600 30,200 305,600 30,200 NASH FINCH CO Common 631158102 11,741 498,980 449,700 49,280 449,700 49,280 NEENAH PAPER INC Common 640079109 28,421 830,300 748,600 81,700 748,600 81,700 NEWPARK RES INC Common 651718504 23,295 4,370,500 3,932,900 437,600 3,932,900 437,600 PENNEY J C INC Common 708160106 9,281 135,700 122,300 13,400 122,300 13,400 PHELPS DODGE CORP Common 717265102 32,643 385,400 347,600 37,800 347,600 37,800 PITNEY BOWES INC Common 724479100 20,867 470,300 423,800 46,500 423,800 46,500 PLAYTEX PRODS INC Common 72813P100 24,096 1,798,200 1,621,300 176,900 1,621,300 176,900 QUANTA SVCS INC Common 74762E102 41,224 2,445,100 2,200,600 244,500 2,200,600 244,500 RADIOSHACK CORP Common 750438103 29,764 1,542,200 1,390,400 151,800 1,390,400 151,800 ROSS STORES INC Common 778296103 18,069 711,100 639,000 72,100 639,000 72,100 SCIENTIFIC GAMES CORP Common 80874P109 24,491 770,149 694,320 75,829 694,320 75,829 TYCO INTL LTD NEW Common 902124106 73,849 2,638,400 2,376,900 261,500 2,376,900 261,500 UNIVERSAL ELECTRS INC Common 913483103 9,118 479,900 431,900 48,000 431,900 48,000 UNIVISION COMMUNICATIONS INC Common 914906102 18,272 532,100 480,100 52,000 480,100 52,000 WADDELL & REED FINL INC Common 930059100 27,190 1,098,600 993,000 105,600 993,000 105,600 WILLIAMS COS INC DEL Common 969457100 50,884 2,131,700 1,921,800 209,900 1,921,800 209,900 XEROX CORP Common 984121103 28,727 1,846,200 1,665,100 181,100 1,665,100 181,100 XL CAP LTD Common G98255105 40,787 593,700 535,200 58,500 535,200 58,500 XTO ENERGY INC Common 98385X106 18,482 438,700 395,400 43,300 395,400 43,300

Total Value (Rounded)1,536,870 Total Value (Actual) 1,536,870,737.60 Total Shares 69,229,429.00 *All of the securities listed in this column are stated in SH.