13F-HR 1 olst13f123105.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2005 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 & 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 February 13, 2006 Report Type (Check only one.): /_/ 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).) /X/ 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: Form 13F File Number Name 28-4024 Smith Barney Fund Management LLC Form 13F Summary Page Report Summary: Number of Other Included Managers: NONE Form 13F Information Table Entry Total: 67 Form 13F Information Table Value Total: $ 1,673,817 (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. NONE

OLSTEIN & ASSOCIATES, L.P. FORM 13F INFORMATION TABLE AS OF 12/31/2005 (COLUMN 1) (COLUMN 2) (COLUMN 3) (COLUMN 4) (COLUMN 5) (COLUMN 6) (COLUMN 7) (COLUMN 8) NAME OF TITLE OF CUSIP VALUE SHRS OR INVESTMENT OTHER VOTING AUTHORITY ISSUER CLASS (X$1000) PRN AMT* DISCRETION MANAGERS (SOLE) ADAPTEC INC COMMON 00651F108 18,536 3,184,900 SOLE 3,184,900 AK STL HLDG CORP COMMON 001547108 21,329 2,682,900 SOLE 2,682,900 AMERICAN GREETINGS CORP COMMON 026375105 27,704 1,261,000 SOLE 1,261,000 AMERICAN INTL GROUP INC COMMON 026874107 29,537 432,900 SOLE 432,900 AVX CORP NEW COMMON 002444107 16,258 1,122,800 SOLE 1,122,800 BANK OF AMERICA CORPORATION COMMON 060505104 25,599 554,700 SOLE 554,700 BAXTER INTL INC COMMON 071813109 21,555 572,500 SOLE 572,500 CISCO SYS INC COMMON 17275R102 28,686 1,675,600 SOLE 1,675,600 CKE RESTAURANTS INC COMMON 12561E105 32,863 2,432,500 SOLE 2,432,500 CLAIRES STORES INC COMMON 179584107 23,507 804,500 SOLE 804,500 CLEVELAND CLIFFS INC COMMON 185896107 19,778 223,300 SOLE 223,300 COMMSCOPE INC COMMON 203372107 23,729 1,178,800 SOLE 1,178,800 DARDEN RESTAURANTS INC COMMON 237194105 7,403 190,400 SOLE 190,400 DEL MONTE FOODS CO COMMON 24522P103 65,670 6,296,300 SOLE 6,296,300 DIEBOLD INC COMMON 253651103 28,717 755,700 SOLE 755,700 DISNEY WALT CO COMMON 254687106 31,758 1,324,900 SOLE 1,324,900 ENERGY CONVERSION DEVICES INC COMMON 292659109 17,702 434,400 SOLE 434,400 FEDERATED DEPT STORES INC DEL COMMON 31410H101 29,862 450,200 SOLE 450,200 FINISH LINE INC COMMON 317923100 5,517 316,700 SOLE 316,700 FOOT LOCKER INC COMMON 344849104 35,998 1,526,000 SOLE 1,526,000 FTD GROUP INC COMMON 30267U108 23,406 2,252,700 SOLE 2,252,700 GANNETT INC COMMON 364730101 21,357 352,600 SOLE 352,600 GOLDMAN SACHS GROUP INC COMMON 38141G104 13,908 108,900 SOLE 108,900 GRAY TELEVISION INC COMMON 389375106 26,937 2,743,100 SOLE 2,743,100 HARLAND JOHN H CO COMMON 412693103 20,872 555,100 SOLE 555,100 HASBRO INC COMMON 418056107 32,030 1,587,200 SOLE 1,587,200 HILFIGER TOMMY CORP COMMON G8915Z102 17,153 1,056,200 SOLE 1,056,200 HOME DEPOT INC COMMON 437076102 16,593 409,900 SOLE 409,900 INTERPUBLIC GROUP COS INC COMMON 460690100 65,234 6,760,000 SOLE 6,760,000 JANUS CAP GROUP INC COMMON 47102X105 21,495 1,153,800 SOLE 1,153,800 JO-ANN STORES INC COMMON 47758P307 22,627 1,917,500 SOLE 1,917,500 JONES APPAREL GROUP INC COMMON 480074103 11,428 372,000 SOLE 372,000 JOURNAL REGISTER CO COMMON 481138105 18,420 1,232,100 SOLE 1,232,100 LUCENT TECHNOLOGIES INC COMMON 549463107 16,950 6,372,300 SOLE 6,372,300 MARSH & MCLENNAN COS INC COMMON 571748102 47,926 1,509,000 SOLE 1,509,000 MATTEL INC COMMON 577081102 12,115 765,800 SOLE 765,800 MCDONALDS CORP COMMON 580135101 31,108 922,550 SOLE 922,550 MERRILL LYNCH & CO INC COMMON 590188108 16,066 237,200 SOLE 237,200 METROLOGIC INSTRS INC COMMON 591676101 2,712 140,800 SOLE 140,800 MOLSON COORS BREWING CO COMMON 60871R209 30,581 456,500 SOLE 456,500 MONTPELIER RE HOLDINGS LTD COMMON G62185106 19,905 1,053,200 SOLE 1,053,200 MORGAN STANLEY COMMON 617446448 28,302 498,800 SOLE 498,800 NCR CORP NEW COMMON 62886E108 22,170 653,200 SOLE 653,200 NEENAH PAPER INC COMMON 640079109 24,970 891,800 SOLE 891,800 NEWPARK RES INC COMMON 651718504 20,380 2,671,100 SOLE 2,671,100 OFFICE DEPOT INC COMMON 676220106 25,092 799,100 SOLE 799,100 PACER INTL INC TENN COMMON 69373H106 26,540 1,018,420 SOLE 1,018,420 PENNEY J C INC COMMON 708160106 9,608 172,800 SOLE 172,800 PERKINELMER INC COMMON 714046109 20,181 856,600 SOLE 856,600 PHELPS DODGE CORP COMMON 717265102 9,121 63,400 SOLE 63,400 PIER 1 IMPORTS INC COMMON 720279108 16,790 1,923,300 SOLE 1,923,300 PLANTRONICS INC NEW COMMON 727493108 15,305 540,800 SOLE 540,800 PLAYTEX PRODS INC COMMON 72813P100 19,433 1,421,600 SOLE 1,421,600 QUANTA SVCS INC COMMON 74762E102 52,492 3,985,700 SOLE 3,985,700 RADIOSHACK CORP COMMON 750438103 28,937 1,376,000 SOLE 1,376,000 ROSS STORES INC COMMON 778296103 24,071 832,900 SOLE 832,900 SCIENTIFIC GAMES CORP COMMON 80874P109 21,552 790,012 SOLE 790,012 TECHNITROL INC COMMON 878555101 22,528 1,317,400 SOLE 1,317,400 TRIBUNE CO NEW COMMON 896047107 6,294 208,000 SOLE 208,000 TUPPERWARE BRANDS CORP COMMON 899896104 25,908 1,156,600 SOLE 1,156,600 TYCO INTL LTD NEW COMMON 902124106 69,893 2,421,800 SOLE 2,421,800 UNIVERSAL ELECTRS INC COMMON 913483103 19,721 1,144,600 SOLE 1,144,600 UNOVA INC COMMON 91529B106 23,900 707,100 SOLE 707,100 WADDELL & REED FINL INC COMMON 930059100 29,274 1,396,000 SOLE 1,396,000 WILLIAMS COS INC DEL COMMON 969457100 50,302 2,171,000 SOLE 2,171,000 XEROX CORP COMMON 984121103 31,205 2,130,000 SOLE 2,130,000 XL CAP LTD COMMON G98255105 29,317 435,100 SOLE 435,100 * All of the securities listed within this column are stated in SH.