13F-HR 1 form13f.txt REPORT AS OF MARCH 31, 2011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2011 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 May 11, 2011 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).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 FORM 13F Information Table Entry Total: 96 FORM 13F Information Table Value Total: $643,542 (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 Name of Reporting Manager: Olstein Capital Management, L.P. Report as of March 31, 2011

MARKET AMOUNT INVESTMENT VOTING TITLE OF VALUE AND TYPE DESCRETION OTHER AUTHORITY NAME OF ISSUER CLASS CUSIP (x $1000) OF SECURITY* SOLE MANAGERS SOLE 3M COMPANY COM COMMON 88579Y101 6264 67,000 67,000 67,000 ABB LTD-SPON ADR SPONSORED ADR 000375204 9168 379,000 379,000 379,000 ACCENTURE PLC CL A SHS CLASS A G1151C101 7146 130,000 130,000 130,000 ADOBE SYSTEMS INC COM COMMON 00724F101 7992 241,000 241,000 241,000 AGILENT TECHNOLOGIES COM COMMON 00846U101 4881 109,000 109,000 109,000 ALLIANCEBERNSTEIN HOLDING LP UNIT LTD PARTN 01881G106 13865 636,000 636,000 636,000 AMERICAN EXPRESS CO COM COMMON 025816109 10170 225,000 225,000 225,000 ANALOG DEVICES INC COM COMMON 032654105 4804 122,000 122,000 122,000 APPLE INC COM COMMON 037833100 9757 28,000 28,000 28,000 ASCENA RETAIL GROUP INC COM COMMON 04351G101 8427 260,000 260,000 260,000 AVERY DENNISON CORP COM COMMON 053611109 9231 220,000 220,000 220,000 BARRETT BUSINESS SVCS INC COMMON 068463108 353 22,000 22,000 22,000 BAXTER INTL INC COMMON 071813109 7904 147,000 147,000 147,000 BECTON DICKINSON AND CO COM COMMON 075887109 9634 121,000 121,000 121,000 BED BATH & BEYOND INC COM COMMON 075896100 8254 171,000 171,000 171,000 BERKLEY W R CORP COM COMMON 084423102 7344 228,000 228,000 228,000 BLACKROCK INC COM COMMON 09247X101 8040 40,000 40,000 40,000 BRADY CORPORATION CL A COM CL A 104674106 482 13,500 13,500 13,500 CAREFUSION CORP COM COMMON 14170T101 9673 343,000 343,000 343,000 CHARLES SCHWAB CORP COM COMMON 808513105 7627 423,000 423,000 423,000 CHEESECAKE FACTORY INC COM COMMON 163072101 271 9,000 9,000 9,000 CHUBB CORP COM COMMON 171232101 6376 104,000 104,000 104,000 CINTAS CORP COM COMMON 172908105 8324 275,000 275,000 275,000 CISCO SYSTEMS INC COM COMMON 17275R102 9175 535,000 535,000 535,000 COCA-COLA CO COM COMMON 191216100 6302 95,000 95,000 95,000 COLLECTIVE BRANDS INC COM COMMON 19421W100 8373 388,000 388,000 388,000 COLUMBUS MCKINNON CORP COMMON 199333105 461 25,000 25,000 25,000 CONMED CORP COM COMMON 207410101 315 12,000 12,000 12,000 CONOCOPHILLIPS COM COMMON 20825C104 6828 85,500 85,500 85,500 CONSTELLATION BRANDS INC CL A COM CL A 21036P108 8964 442,000 442,000 442,000 COVIDIEN PLC SHS G2554F105 8466 163,000 163,000 163,000 CUMMINS INC COM COMMON 231021106 4604 42,000 42,000 42,000 DELTA AIR LINES DEL COM COM NEW 247361702 6321 645,000 645,000 645,000 DENTSPLY INTERNATIONAL INC COM COMMON 249030107 5474 148,000 148,000 148,000 DORMAN PRODUCTS INC COM COMMON 258278100 126 3,000 3,000 3,000 DR PEPPER SNAPPLE GROUP INC COM COMMON 26138E109 11705 315,000 315,000 315,000 DSW INC CL A COM CL A 23334L102 440 11,000 11,000 11,000 DU PONT (E.I.) DE NEMOURS COM COMMON 263534109 11269 205,000 205,000 205,000 ENTEGRIS INC COM COMMON 29362U104 5622 641,000 641,000 641,000 EQUIFAX INC COM COMMON 294429105 9518 245,000 245,000 245,000 EXXON MOBIL CORP COM COMMON 30231G102 9254 110,000 110,000 110,000 FEDEX CORP COM COMMON 31428X106 4490 48,000 48,000 48,000 FINISH LINE INC CL A COM CL A 317923100 456 23,000 23,000 23,000 GENUINE PARTS CO COM COMMON 372460105 3326 62,000 62,000 62,000 HANOVER INSURANCE GROUP INC COM COMMON 410867105 6199 137,000 137,000 137,000 HARMAN INTERNATIONAL COM COMMON 413086109 9598 205,000 205,000 205,000 HENRY SCHEIN INC COM COMMON 806407102 4842 69,000 69,000 69,000 HILLENBRAND INC COM COMMON 431571108 430 20,000 20,000 20,000 HOME DEPOT INC COM COMMON 437076102 9228 249,000 249,000 249,000 IBM CORP COM COMMON 459200101 7175 44,000 44,000 44,000 INGERSOLL-RAND PLC SHS G47791101 8647 179,000 179,000 179,000 INTEL CORP COM COMMON 458140100 18556 920,000 920,000 920,000 INTL GAME TECHNOLOGY COM COMMON 459902102 8034 495,000 495,000 495,000 JANUS CAPITAL GROUP INC COM COMMON 47102X105 524 42,000 42,000 42,000 JOHNSON & JOHNSON COM COMMON 478160104 5392 91,000 91,000 91,000 JONES GROUP INC/THE COM COMMON 48020T101 7617 554,000 554,000 554,000 JONES LANG LASALLE INC COM COMMON 48020Q107 7111 71,300 71,300 71,300 JP MORGAN CHASE & CO COM COMMON 46625H100 6592 143,000 143,000 143,000 KIMBERLY CLARK CORP COM COMMON 494368103 6331 97,000 97,000 97,000 LEGG MASON INC COM COMMON 524901105 12776 354,000 354,000 354,000 LIFE TECHNOLOGIES CORP COM COMMON 53217V109 9698 185,000 185,000 185,000 LOWES COMPANIES INC COM COMMON 548661107 8378 317,000 317,000 317,000 MACY'S INC COM COMMON 55616P104 13052 538,000 538,000 538,000 MASTERCARD INC CL A COM CL A 57636Q104 7300 29,000 29,000 29,000 MCDONALDS CORP COM COMMON 580135101 7609 100,000 100,000 100,000 MEASUREMENT SPECIALTIES INC COM COMMON 583421102 783 23,000 23,000 23,000 MICROSEMI CORP COM COMMON 595137100 828 40,000 40,000 40,000 MICROSOFT CORP COM COMMON 594918104 13187 520,000 520,000 520,000 MOLSON COORS BREWING CO CL B COM CL B 60871R209 4220 90,000 90,000 90,000 MORGAN STANLEY COM COMM NEW 617446448 6557 240,000 240,000 240,000 NCR CORP NEW COM COMMON 62886E108 622 33,000 33,000 33,000 OSHKOSH TRUCK CORP COM COMMON 688239201 7890 223,000 223,000 223,000 PETSMART INC COM COMMON 716768106 9296 227,000 227,000 227,000 PROCTOR & GAMBLE CO COM COMMON 742718109 5852 95,000 95,000 95,000 QUEST DIAGNOSTICS INC COM COMMON 74834L100 7504 130,000 130,000 130,000 ROCKWELL COLLINS INC COM COMMON 774341101 3695 57,000 57,000 57,000 ROCKY BRANDS INC COM COMMON 774515100 107 7,000 7,000 7,000 RUBY TUESDAY INC COM COMMON 781182100 10226 780,000 780,000 780,000 SEALED AIR CORP COM COMMON 81211K100 6078 228,000 228,000 228,000 SNAP-ON INC COM COMMON 833034101 480 8,000 8,000 8,000 SONOCO PRODUCTS CO COM COMMON 835495102 5398 149,000 149,000 149,000 STANDEX INTERNATIONAL CORP COM COMMON 854231107 455 12,000 12,000 12,000 STEINWAY MUSICAL INSTRUMENTS INC COM COMMON 858495104 378 17,000 17,000 17,000 STRYKER CORP COM COMMON 863667101 9242 152,000 152,000 152,000 TEAM INC COM COMMON 878155100 341 13,000 13,000 13,000 TELEFLEX INC COM COMMON 879369106 11306 195,000 195,000 195,000 TERADYNE INC COM COMMON 880770102 6946 390,000 390,000 390,000 THERMO FISHER SCIENTIFIC INC COM COMMON 883556102 8332 150,000 150,000 150,000 TIMKEN CO COM COMMON 887389104 8682 166,000 166,000 166,000 TJX COMPANIES INC NEW COM COMMON 872540109 6216 125,000 125,000 125,000 TYCO INTERNATIONAL LTD SHS H89128104 8999 201,000 201,000 201,000 WALGREEN CO COM COMMON 931422109 4817 120,000 120,000 120,000 WALT DISNEY CO COM COM DISNEY 254687106 8920 207,000 207,000 207,000 WHIRLPOOL CORP COM COMMON 963320106 10414 122,000 122,000 122,000 XEROX CORP COM COMMON 984121103 13824 1,298,000 1,298,000 1,298,000 ZIMMER HOLDINGS INC COM COMMON 98956P102 9382 155,000 155,000 155,000

* All of the securities listed within this column are stated as "SH".