13F-HR 1 firstquarter2012.txt 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, 2012 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, 2012 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: 101 FORM 13F Information Table Value Total: $589,902 (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, 2012 Form 13F Information Table

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 COM 88579Y101 5,888 66,000 66,000 66,000 ABB LTD-SPON ADR SPONSORE ADR 000375204 8,307 407,000 407,000 407,000 ABM INDUSTRIES INC COM COM 000957100 340 14009 14009 14009 ACCENTURE PLC CL A SHS CLASS A G1151C101 4,967 77,000 77,000 77,000 AEGION CORP COM COM 00770F104 624 35,000 35,000 35,000 AGILENT TECHNOLOGIES COM COM 00846U101 7,344 165,000 165,000 165,000 AMERICAN EXPRESS CO COM COM 025816109 6,249 108,000 108,000 108,000 ANALOG DEVICES INC COM COM 032654105 7,878 195,000 195,000 195,000 APACHE CORP COM COM 037411105 3,415 34,000 34,000 34,000 APPLE INC COM COM 037833100 8,393 14,000 14,000 14,000 ASCENA RETAIL GROUP INC COM COM 04351G101 5,097 115000 115000 115000 AVERY DENNISON CORP COM COM 053611109 9,009 299000 299000 299000 BAXTER INTL INC COM 071813109 8,070 135,000 135,000 135,000 BECTON DICKINSON AND CO COM COM 075887109 7,144 92,000 92,000 92,000 BED BATH & BEYOND INC COM COM 075896100 6,103 92,800 92,800 92,800 BLACKROCK INC COM COM 09247X101 7,172 35,000 35,000 35,000 BRADY CORPORATION CL A COM CL A 104674106 453 14,000 14,000 14,000 CAREFUSION CORP COM COM 14170T101 8,194 316000 316000 316000 CHARLES SCHWAB CORP COM COM 808513105 8,406 585,000 585,000 585,000 CHUBB CORP COM COM 171232101 5,183 75,000 75,000 75,000 CISCO SYSTEMS INC COM COM 17275R102 9,518 450,000 450,000 450,000 CLIFFS NATURAL RESOURCES INC COM COM 18683K101 3,463 50,000 50,000 50,000 COCA-COLA CO COM COM 191216100 4,071 55,000 55,000 55,000 COLUMBUS MCKINNON CORP COM 199333105 489 30,000 30,000 30,000 CONOCOPHILLIPS COM COM 20825C104 6,461 85,000 85,000 85,000 CONSTELLATION BRANDS INC CL A COM CL A 21036P108 8,752 371000 371000 371000 COVIDIEN PLC SHS G2554F113 8,202 150,000 150,000 150,000 CTS CORP COM COM 126501105 547 52,000 52,000 52,000 CUMMINS INC COM COM 231021106 5,642 47,000 47,000 47,000 DELTA AIR LINES DEL COM COM NEW 247361702 7,978 805,000 805,000 805,000 DENTSPLY INTERNATIONAL INC COM COM 249030107 6,501 162000 162000 162000 DOLBY LABORATORIES INC CL A COM COM 25659T107 4,339 114,000 114,000 114,000 DORMAN PRODUCTS INC COM COM 258278100 607 12,000 12,000 12,000 DOVER CORP COM COM 260003108 3,902 62,000 62,000 62,000 DR PEPPER SNAPPLE GROUP INC COM COM 26138E109 8,163 203,000 203,000 203,000 DU PONT (E.I.) DE NEMOURS COM COM 263534109 10,633 201,000 201,000 201,000 ENTEGRIS INC COM COM 29362U104 4,791 513000 513000 513000 EQUIFAX INC COM COM 294429105 8,542 193,000 193,000 193,000 EXXON MOBIL CORP COM COM 30231G102 8,500 98,000 98,000 98,000 FEDEX CORP COM COM 31428X106 6,621 72,000 72,000 72,000 FINISH LINE INC CL A COM CL A 317923100 255 12,000 12,000 12,000 FREEPORT MCMORAN COPPER & GOLD COM COM 35671D857 2,092 55,000 55,000 55,000 GENERAL ELECTRIC CO COM COM 369604103 7,105 354,000 354,000 354,000 GENUINE PARTS CO COM COM 372460105 3,891 62,000 62,000 62,000 HARMAN INTERNATIONAL COM COM 413086109 14,511 310000 310000 310000 HENRY SCHEIN INC COM COM 806407102 5,146 68,000 68,000 68,000 HILLENBRAND INC COM COM 431571108 551 24,000 24,000 24,000 HOME DEPOT INC COM COM 437076102 7,295 145,000 145,000 145,000 IBM CORP COM COM 459200101 5,091 24,400 24,400 24,400 INGERSOLL-RAND PLC SHS G47791101 8,973 217,000 217,000 217,000 INTEL CORP COM COM 458140100 12,790 455,000 455,000 455,000 INTL GAME TECHNOLOGY COM COM 459902102 8,630 514,000 514,000 514,000 JANUS CAPITAL GROUP INC COM COM 47102X105 784 88,000 88,000 88,000 JOHNSON & JOHNSON COM COM 478160104 6,926 105,000 105,000 105,000 JONES LANG LASALLE INC COM COM 48020Q107 9,081 109000 109000 109000 JP MORGAN CHASE & CO COM COM 46625H100 9,150 199,000 199,000 199,000 KIMBERLY CLARK CORP COM COM 494368103 3,695 50,000 50,000 50,000 KORN/FERRY INTERNATIONAL COM COM NEW 500643200 4,673 279000 279000 279000 LEGG MASON INC COM COM 524901105 8,491 304000 304000 304000 LIFE TECHNOLOGIES CORP COM COM 53217V109 9,813 201000 201000 201000 LOWES COMPANIES INC COM COM 548661107 8,692 277,000 277,000 277,000 MACY'S INC COM COM 55616P104 10,052 253000 253000 253000 MAIDENFORM BRANDS INC COM COM 560305104 428 19,000 19,000 19,000 MCDONALDS CORP COM COM 580135101 3,826 39,000 39,000 39,000 MEASUREMENT SPECIALTIES INC COM COM 583421102 741 22,000 22,000 22,000 MICROSEMI CORP COM COM 595137100 4,717 220000 220000 220000 MICROSOFT CORP COM COM 594918104 11,900 369,000 369,000 369,000 MISTRAS GROUP INC COM COM 60649T107 286 12,000 12,000 12,000 MORGAN STANLEY COM COM NEW 617446448 7,424 378,000 378,000 378,000 NATIONAL OILWELL VARCO INC COM COM 637071101 3,020 38,000 38,000 38,000 NCR CORP NEW COM COM 62886E108 369 17,000 17,000 17,000 NEWELL RUBBERMAID INC COM COM 651229106 8,371 470,000 470,000 470,000 NIKE INC CL B COM CL B 654106103 2,928 27,000 27,000 27,000 PENTAIR INC COM COM 709631105 8,427 177,000 177,000 177,000 PEPSICO INC COM COM 713448108 4,445 67,000 67,000 67,000 PETSMART INC COM COM 716768106 4,406 77,000 77,000 77,000 ROCKY BRANDS INC COM COM 774515100 721 53,000 53,000 53,000 RUBY TUESDAY INC COM COM 781182100 10,006 1096000 1096000 1096000 SCHLUMBERGER LTD COM 806857108 4,196 60,000 60,000 60,000 SCHWEITZER-MAUDUIT INTL INC COM COM 808541106 311 4,500 4,500 4,500 SEALED AIR CORP COM COM 81211K100 8,863 459000 459000 459000 SNAP-ON INC COM COM 833034101 6,890 113000 113000 113000 SONOCO PRODUCTS CO COM COM 835495102 6,076 183,000 183,000 183,000 SPIRIT AIRLINES INC COM COM 848577102 3,237 161300 161300 161300 STANDEX INTERNATIONAL CORP COM COM 854231107 577 14,000 14,000 14,000 STAPLES INC COM COM 855030102 9,546 590,000 590,000 590,000 STEIN MART INC COM COM 858375108 396 60,000 60,000 60,000 STRYKER CORP COM COM 863667101 8,045 145,000 145,000 145,000 TEAM INC COM COM 878155100 310 10,000 10,000 10,000 TELEFLEX INC COM COM 879369106 8,744 143000 143000 143000 TERADYNE INC COM COM 880770102 7,601 450000 450000 450000 THERMO FISHER SCIENTIFIC INC COM COM 883556102 9,754 173,000 173,000 173,000 TIMKEN CO COM COM 887389104 8,981 177000 177000 177000 TJX COMPANIES INC NEW COM COM 872540109 4,368 110,000 110,000 110,000 TYCO INTERNATIONAL LTD SHS H89128104 2,921 52,000 52,000 52,000 US BANCORP COM COM NEW 902973304 7,762 245,000 245,000 245,000 V F CORP COM COM 918204108 1,460 10,000 10,000 10,000 WALT DISNEY CO COM COM DISNEY 254687106 9,194 210,000 210,000 210,000 WESTERN UNION CO INC COM 959802109 4,330 246,000 246,000 246,000 XEROX CORP COM COM 984121103 12,008 1488000 1488000 1488000 ZIMMER HOLDINGS INC COM COM 98956P102 8,678 135,000 135,000 135,000

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