13F-HR 1 gwc1q08.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: March 31, 2008 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: GW Capital, Inc. Address: 10900 N.E. Eighth Street, Suite 1010 Bellevue, WA 98004 13F File Number: 801-35777 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: Guy Watanabe Title: President Phone: 425-455-4551 Signature, Place, and Date of Signing: /s/ Guy Watanabe Bellevue, WA April 9, 2008 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form13F Information Table Entry Total: 56 Form13F Information Table Value Total: $943,366 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MGRS SOLE SHARED NONE ABITIBIBOWATER COM 003687100 20106 1557407 SH SOLE 1229961 0 327446 ALBANY INTL CORP CL A 012348108 25148 695839 SH SOLE 519025 0 176814 AMERICAN INTL GRP, INC. COM 026874107 2292 53000 SH SOLE 53000 0 0 AMERICAN STS WTR CO COM 029899101 20126 559057 SH SOLE 417432 0 141625 ANIXTER INTL INC COM 035290105 7665 119684 SH SOLE 111224 0 8460 BELDEN, INC. COM 077454106 24261 686901 SH SOLE 540126 0 146775 BRIGGS & STRATTON CORP COM 109043109 31838 1778682 SH SOLE 1422578 0 356104 BROOKDALE SENIOR LIVING COM 112463104 5533 231520 SH SOLE 210650 0 20870 CIT GROUP, INC. COM 125581108 3831 323297 SH SOLE 279757 0 43540 CVS CAREMARK CORP. COM 126650100 2836 70000 SH SOLE 70000 0 0 COMMSCOPE COM 203372107 3176 91183 SH SOLE 82654 0 8529 CORNING INCORPORATED COM 219350105 1875 78000 SH SOLE 78000 0 0 CROWN HOLDINGS INC COM 228368106 37626 1495463 SH SOLE 1197981 0 297482 DEAN FOODS COM 242370104 5630 280251 SH SOLE 254746 0 25505 EMC CORPORATION COM 268648102 2151 150000 SH SOLE 150000 0 0 ESTERLINE COM 297425100 26579 527670 SH SOLE 398981 0 128689 FLUOR CORPORATION COM 343412102 9802 69440 SH SOLE 64545 0 4895 HEALTHCARE RLTY TR INC COM 421946104 38373 1467416 SH SOLE 1147819 0 319597 HEARST-ARGYLE TV INC COM 422317107 18516 897522 SH SOLE 654631 0 242891 HERSHEY COMPANY COM 427866108 8140 216085 SH SOLE 200845 0 15240 HORMEL FOODS CORP. COM 440452100 5111 122678 SH SOLE 109878 0 12800 HUNTINGTON BANCSHARES COM 446150104 4526 421030 SH SOLE 336475 0 84555 ITT CORPORATION COM 450911102 2228 43000 SH SOLE 43000 0 0 ION GEOPHYSICAL CORP COM NEW 462044108 38909 2819468 SH SOLE 2255713 0 563755 KINDRED HEALTHCARE INC COM 494580103 29878 1366180 SH SOLE 1028475 0 337705 LADISH CO. COM NEW 505754200 13561 376702 SH SOLE 282377 0 94325 LTC PPTYS INC COM 502175102 24041 935065 SH SOLE 709655 0 225410 MCDERMOTT INTL, INC. COM 580037109 11180 203943 SH SOLE 191463 0 12480 MCDONALD'S CORP COM 580135101 3625 65000 SH SOLE 65000 0 0 NORTHROP GRUMMAN CORP COM 666807102 1712 22000 SH SOLE 22000 0 0 NORTHWESTERN CORP COM NEW 668074305 22757 933798 SH SOLE 715823 0 217975 OMEGA HEALTHCARE INVS INC COM 681936100 35542 2047335 SH SOLE 1586300 0 461035 ONEOK INC NEW COM 682680103 42452 951201 SH SOLE 734101 0 217100 OWENS ILLINOIS INC NEW COM NEW 690768403 46662 826898 SH SOLE 668517 0 158381 PUGET ENERGY, INC. COM 745310102 9105 351939 SH SOLE 326809 0 25130 ST. JUDE MEDICAL, INC. COM 790849103 2872 66500 SH SOLE 66500 0 0 SCHERING-PLOUGH CORP COM 806605101 2147 149000 SH SOLE 149000 0 0 SIERRA PAC RES NEW COM 826428104 6813 539458 SH SOLE 429658 0 109800 SINCLAIR BROADCAST GRP INC CL A 829226109 21057 2363277 SH SOLE 1775782 0 587495 A.O. SMITH CORPORATION COM 831865209 21882 665709 SH SOLE 501335 0 164374 SMURFIT STONE CONTAINER CORP COM 832727101 8098 1051722 SH SOLE 898087 0 153635 SOUTHWEST GAS CORP COM 844895102 32372 1157802 SH SOLE 889157 0 268645 STEWART ENTERPRISES INC CL A CLA 860370105 24848 3870340 SH SOLE 2894055 0 976285 THOMAS & BETTS CORP. COM 884315102 2870 78915 SH SOLE 70715 0 8200 TIDEWATER INC COM 886423102 38852 704991 SH SOLE 551671 0 153320 WACHOVIA CORP COM 929903102 1755 65000 SH SOLE 65000 0 0 WEYERHAEUSER COMPANY COM 962166104 2927 45000 SH SOLE 45000 0 0 DELL, INC. COM 24702R101 2131 107000 SH SOLE 107000 0 0 EXTERRAN HOLDINGS COM NEW 30225X103 34791 539059 SH SOLE 414868 0 124191 GENWORTH FINANCIAL INC. COM CL A 37247D106 2649 117000 SH SOLE 117000 0 0 HEALTH CARE REIT INC COM 42217K106 36475 808222 SH SOLE 641867 0 166355 QUIKSILVER INC COM 74838C106 34143 3480447 SH SOLE 2693577 0 786870 TETRA TECH, INC. COM 88162G103 18956 971616 SH SOLE 719741 0 251875 VECTREN CORP COM 92240G101 28556 1064326 SH SOLE 815511 0 248815 WESTAR ENERGY INC COM 95709T100 30850 1354865 SH SOLE 1079320 0 275545 FOSTER WHEELER LTD. SHS NEW G36535139 1529 27000 SH SOLE 27000 0 0