13F-HR 1 gwc2q10.txt GW CAPITAL, INC. 2Q10 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: June 30, 2010 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 July 27, 2010 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: 61 Form13F Information Table Value Total: $975,204 (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 TITLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER OF CLASS CUSIP (x$1000)PRN AMT PRN CALL DSCRETN MGRS SOLE SHARED NONE A.O. SMITH CORPORATION COM 831865209 33838 702185 SH SOLE 533355 0 168830 ALBANY INTL CORP CL A 012348108 19054 1176901 SH SOLE 900934 0 275967 AMERICAN STS WTR CO COM 029899101 17947 541551 SH SOLE 410874 0 130677 BARNES GROUP INC COM 067806109 17820 1087275 SH SOLE 825717 0 261558 BOSTON PROPERTIES LP NOTE 10112RAK0 4088 4145000 PRN SOLE 4020000 0 125000 BRIGHAM EXPLORATION COM 109178103 28441 1849218 SH SOLE 1311274 0 537944 BROOKDALE SENIOR LIVING COM 112463104 33845 2256332 SH SOLE 1581897 0 674435 CAPSTEAD MORTGAGE CORP. COM NO PAR 14067E506 23096 2088259 SH SOLE 1585983 0 502276 CHESAPEAKE ENERGY CORP NOTE 165167CB1 4598 6375000 PRN SOLE 6165000 0 210000 CHICAGO BRIDGE & IRON N Y REGISTRY SH 167250109 13769 732004 SH SOLE 553617 0 178387 CNO FINANCIAL GROUP COM 12621E103 31863 6436977 SH SOLE 4446119 0 1990858 CORN PRODUCTS INT'L, INC. COM 219023108 18290 603628 SH SOLE 458860 0 144768 CROWN HOLDINGS INC COM 228368106 28106 1122452 SH SOLE 773554 0 348898 DARLING INTERNATIONAL COM 237266101 22209 2957235 SH SOLE 2268454 0 688781 EL PASO CORP. COM 28336L109 9299 837005 SH SOLE 474000 0 363005 ESTERLINE COM 297425100 27115 571437 SH SOLE 434632 0 136805 EXTERRAN HOLDING NOTE 30225XAA1 2072 1585000 PRN SOLE 1540000 0 45000 EXTERRAN HOLDINGS COM 30225X103 16211 628100 SH SOLE 437907 0 190193 FIFTH THIRD BANCORP COM 316773100 11557 940336 SH SOLE 524881 0 415455 FLUOR CORPORATION COM 343412102 7161 168483 SH SOLE 93078 0 75405 FOREST OIL CORP COM 346091705 36513 1334525 SH SOLE 940174 0 394351 GENWORTH FINANCIAL INC. COM 37247D106 7860 601407 SH SOLE 335812 0 265595 HARRIS CORP. COM 413875105 10708 257093 SH SOLE 138073 0 119020 HARRY WINSTON DIAMOND CORP. COM 41587B100 18307 1492047 SH SOLE 1137362 0 354685 HEALTH CARE REIT INC COM 42217K106 6801 161467 SH SOLE 94602 0 66865 HERTZ GLOBAL HOLDINGS COM 42805T105 9066 958325 SH SOLE 529140 0 429185 IBERIABANK CORP COM 450828108 17235 334795 SH SOLE 254301 0 80494 ION GEOPHYSICAL CORP COM 462044108 14574 4188012 SH SOLE 3180234 0 1007778 JM SMUCKER COM NEW 832696405 8628 143269 SH SOLE 76014 0 67255 KINDRED HEALTHCARE INC COM 494580103 14930 1162811 SH SOLE 886139 0 276672 LENDER PROCESSING SERVICES, INCCOM 52602E102 6448 205955 SH SOLE 113325 0 92630 LTC PPTYS INC COM 502175102 16876 695362 SH SOLE 528756 0 166606 MASSEY ENERGY CO NOTE 576203AJ2 4622 5560000 PRN SOLE 5310000 0 250000 MCCORMICK & CO. COM NON VTG 579780206 6903 181841 SH SOLE 102746 0 79095 MEADWESTVACO CORP. COM 583334107 9200 414407 SH SOLE 230262 0 184145 NORTHWESTERN CORP COM NEW 668074305 8371 319514 SH SOLE 246515 0 72999 OCWEN FINANCIAL COM 675746309 15916 1561968 SH SOLE 1181793 0 380175 OMEGA HEALTHCARE INVS INC COM 681936100 40249 2019514 SH SOLE 1399404 0 620110 OMNICARE, INC. COM 681904108 8018 338313 SH SOLE 188148 0 150165 ONEOK INC NEW COM 682680103 36523 844451 SH SOLE 590349 0 254102 OWENS ILLINOIS INC NEW COM NEW 690768403 28205 1066359 SH SOLE 741120 0 325239 PENN VIRGINIA COM 707882106 14304 711294 SH SOLE 539805 0 171489 PERRIGO CO. COM 714290103 14250 241242 SH SOLE 136507 0 104735 PIONEER NATURAL RESOURCE NOTE 723787AH0 3786 3165000 PRN SOLE 3165000 0 0 REDWOOD TRUST INC. COM 758075402 15260 1042372 SH SOLE 789591 0 252781 SBA COMMUNICATIONS COM 78388J106 11147 327749 SH SOLE 182789 0 144960 SCHWEITZER-MAUDUIT INTERNATIONACOM 808541106 16602 329085 SH SOLE 247241 0 81844 SENSIENT TECHNOLOGIES COM 81725T100 19308 744624 SH SOLE 565824 0 178800 SLM CORPORATION COM 78442P106 36816 3543417 SH SOLE 2469543 0 1073874 SOUTHERN UNION CO. COM 844030106 24636 1127001 SH SOLE 855168 0 271833 STEWART ENTERPRISES INC CL A CLA 860370105 22674 4191205 SH SOLE 3183328 0 1007877 TETRA TECH, INC. COM 88162G103 11469 584845 SH SOLE 445644 0 139201 THOMAS & BETTS CORP. COM 884315102 11609 334564 SH SOLE 185494 0 149070 TIDEWATER INC COM 886423102 18757 484428 SH SOLE 339708 0 144720 TRINITY INDUSTRIES INC NOTE 896522AF6 3653 4760000 PRN SOLE 4760000 0 0 VERISK ANALYTICS COM 92345Y106 10051 336158 SH SOLE 187148 0 149010 WASHINGTON FEDERAL, INC. COM 938824109 8920 551309 SH SOLE 302604 0 248705 WENDY'S/ARBY'S GROUP COM 950587105 8387 2096660 SH SOLE 1166005 0 930655 WEYERHAEUSER CO COM 962166104 6762 192111 SH SOLE 106381 0 85730 WILLIAMS COS, INC. COM 969457100 8979 491196 SH SOLE 259071 0 232125 YAMANA GOLD, INC. COM 98462Y100 11498 1116306 SH SOLE 616151 0 500155