Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
CERNUGEL WILLIAM J
   2. Issuer Name and Ticker or Trading Symbol
New Aristotle Holdings, Inc. [ACV] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice-President & CFO
(Last)
(First)
(Middle)
8111 LAKE RIDGE DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
11/24/2006
(Street)

BURR RIDGE, IL 60527		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 13.919 11/24/2006   A   17,520     (1) 09/30/2012 Common Stock 17,520 (2) (3) 17,520 D  
Employee Stock Option (Right to Buy) $ 16.081 11/24/2006   A   60,859     (1) 09/30/2013 Common Stock 60,859 (2) (4) 60,859 D  
Employee Stock Option (Right to Buy) $ 17.825 11/24/2006   A   55,327     (1) 09/30/2014 Common Stock 55,327 (2) (5) 55,327 D  
Employee Stock Option (Right to Buy) $ 18.056 11/24/2006   A   56,556     (1) 09/30/2015 Common Stock 56,556 (2) (6) 56,556 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
CERNUGEL WILLIAM J
8111 LAKE RIDGE DRIVE
BURR RIDGE, IL 60527		       Senior Vice-President & CFO  

Signatures

 /s/ James M. Spira as Attorney-in-Fact for William J. Cernugel   11/28/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This option currently is exercisable in full.
(2) This option was granted by the issuer in replacement of an option to purchase shares of common stock of Sally Beauty Holdings, Inc. ("Sally Beauty Holdings") in connection with the spin-off of the issuer by Sally Beauty Holdings (the "Spin-Off").
(3) In the Spin-Off, this option replaced an option to purchase 7,125 shares of common stock of Sally Beauty Holdings at an exercise price of $34.227.
(4) In the Spin-Off, this option replaced an option to purchase 24,750 shares of common stock of Sally Beauty Holdings at an exercise price of $39.543.
(5) In the Spin-Off, this option replaced an option to purchase 22,500 shares of common stock of Sally Beauty Holdings at an exercise price of $43.83.
(6) In the Spin-Off, this option replaced an option to purchase 23,000 shares of common stock of Sally Beauty Holdings at an exercise price of $44.40.

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