UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON DC 20549

FORM 13F

FORM 13F COVER PAGE

REPORT FOR QUARTER END			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					AM INVESTMENT PARTNERS LLC
ADDRESS					1 LIBERTY PLAZA
					NEW YORK, NEW YORK 10006

13F FILE NUMBER

THE INSTITUTIONAL INVESTMENT MANAGER FILING THIS REPORT AND THE
PERSON WHOM IT IS SIGNED HEREBY REPRESENT THAT THE PERSON SIGNING
THE REPORT IS AUTHORIZED TO SUBMIT IT, THAT ALL INFORMATION
CONTAINED HERIN 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					THOMAS CAGNA
TITLE					CFO
PHONE					212 508 5908
SIGNATURE
DATE					March 31, 2012

REPORT TYPE (CHECK ONLY ONE)
					[x]  13F HOLDING REPORT
					[ ]  13F NOTICE
					[ ]  13F COMBINATION REPORT


FORM 13F SUMMARY PAGE
REPORT SUMMARY:
NUMBER OF OTHER MANAGERS		0
FORM 13F INFORMATION TABLE ENTRY TOTAL 	46
FORM 13F INFORMATION TABLE VALUE TOTAL	15,945
	          			(x$1000)

FORM 13F INFORMATION TABLE
NAME				TITLE			VALUE	 SHARES/ 	SH/	PUT/ 	INVMT	OTHER	VOTING AUTHORITY
OF ISSUER			OF CLASS      CUSIP	(x$1000) PRN AMT 	PRN	CALL	DISTN	MGRS	SOLE	SHARED	NONE
					      		  								
ABOVENET INC			COM	      00374N107	373	4500		SH		SOLE	NONE	4500	0	0
AMERICAN RLTY CAP TR INC 	COM	      02917L101	149	14500		SH		SOLE	NONE	14500	0	0
ASIAINFO-LINKAGE INC		COM	      04518A104	164	13000		SH		SOLE	NONE	13000	0	0
CENTRAL VT PUB SVC CORP		COM	      155771108	387	11000		SH		SOLE	NONE	11000	0	0
CHINA ADVANCED CONSTR MATLS	COM	      169365103	32	13500		SH		SOLE	NONE	13500	0	0
CHINA GRENTECH CORP LTD		ADR	      16938P107	93	30000		SH		SOLE	NONE	30000	0	0
CHINA TRANSINFO TECHNOLOGY CORP	COM	      169453107	71	14600		SH		SOLE	NONE	14600	0	0
COGDELL SPENCER INC		COM	      19238U107	106	25000		SH		SOLE	NONE	25000	0	0
DELPHI FINL GROUP INC		CL A	      247131105	407	9090		SH		SOLE	NONE	9090	0	0
DISCOVERY COMMUNICATNS 		COM SER A     25470F104	506	10000		SH		SOLE	NONE	10000	0	0
EL PASO CORP			COM	      28336L109	1178	39854		SH		SOLE	NONE	39854	0	0
EL PASO CORP			COM	      28336L109	131	11700		SH	C	SOLE	NONE	11700	0	0
EMMIS COMMUNICATIONS CORP	CL A	      291525103	37	45000		SH		SOLE	NONE	45000	0	0
FBL FINL GROUP INC		CL A	      30239F106	519	15400		SH		SOLE	NONE	15400	0	0
GOODRICH CORP			COM	      382388106	57	10000		SH	C	SOLE	NONE	10000	0	0
GOODRICH CORP			COM	      382388106	1004	8000		SH		SOLE	NONE	8000	0	0
GREAT WOLF RESORTS INC		COM	      391523107	143	25000		SH		SOLE	NONE	25000	0	0
HERTZ GLOBAL HOLDINGS INC	COM	      42805T105	150	10000		SH		SOLE	NONE	10000	0	0
ILLUMINA INC			COM	      452327109	210	4000		SH		SOLE	NONE	4000	0	0
ISTA PHARMACEUTICALS INC	COM	      45031X204	270	30000		SH		SOLE	NONE	30000	0	0
KENNETH COLE PRODUCTIONS INC	CL A	      193294105	306	19000		SH		SOLE	NONE	19000	0	0
KIT DIGITAL INC			COM	      482470200	72	10000		SH		SOLE	NONE	10000	0	0
LIBERTY GLOBAL INC		COM SER C     530555309	720	15040		SH		SOLE	NONE	15040	0	0
MEDCO HEALTH SOLUTIONS INC	COM	      58405U102	1125	16000		SH		SOLE	NONE	16000	0	0
MIDAS INC			COM	      595626102	233	20300		SH		SOLE	NONE	20300	0	0
MODUSLINK GLOBAL SOLUTIONS INC	COM	      60786L107	105	19500		SH		SOLE	NONE	19500	0	0
MOTOROLA MOBILITY HLDGS INC	COM	      620097105	451	11500		SH		SOLE	NONE	11500	0	0
NEWS CORP			CL B	      65248E203	200	10000		SH		SOLE	NONE	10000	0	0
NOVELLUS SYS INC		COM	      670008101	998	20000		SH		SOLE	NONE	20000	0	0
NSTAR LLC			COM	      67019E107	742	15257		SH		SOLE	NONE	15257	0	0
O'CHARLEYS INC			COM	      670823103	148	15000		SH		SOLE	NONE	15000	0	0
PARLUX FRAGRANCES INC		COM	      701645103	252	44500		SH		SOLE	NONE	44500	0	0
PEP BOYS MANNY MOE & JACK	COM	      713278109	315	21100		SH		SOLE	NONE	21100	0	0
PROMOTORA DE INFORMACIONES SA	ADR CLA       74343G204	32	10000		SH		SOLE	NONE	10000	0	0
PROSHARES SHORT S&P 500			      74347R503	358	10000		SH		SOLE	NONE	10000	0	0
RSC HOLDINGS INC		COM	      74972L102	1019	45100		SH		SOLE	NONE	45100	0	0
SERACARE LIFE SCIENCES INC	COM	      81747T104	80	20000		SH		SOLE	NONE	20000	0	0
SIRIUS XM RADIO INC		COM	      82967N108	92	40000		SH		SOLE	NONE	40000	0	0
SOLUTIA INC			COM	      834376501	419	15000		SH		SOLE	NONE	15000	0	0
SUREWEST COMMUNICATIONS		COM	      868733106	338	15000		SH		SOLE	NONE	15000	0	0
TALEO CORP			CL A	      87424N104	344	7500		SH		SOLE	NONE	7500	0	0
TAM SA				ADR REP PFD   87484D103	319	12694		SH		SOLE	NONE	12694	0	0
TELUS CORP			SHS	      87971M202	851	15000		SH		SOLE	NONE	15000	0	0
THOMAS & BETTS CORP		COM	      884315102	2	10000		SH	C	SOLE	NONE	10000	0	0
TIBET PHARMACEUTICALS INC	COM	      G88615102	20	14400		SH		SOLE	NONE	14400	0	0
ZOLL MEDICAL CORP		COM	      989922109	417	4500		SH		SOLE	NONE	4500	0	0