13F-HR 1 gwc3q10.txt GW CAPITAL, INC. 3Q10 13F HR UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 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 October 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: 60 Form13F Information Table Value Total: $1,051,290 (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 AUTHORIT NAME OF ISSUER OF CLASS CUSIP (x$1000)PRN AMT PRN CALL DSCRETN MGRS SOLE SHARED NONE A.O. SMITH CORPORATION COM 831865209 33921 585960 SH SOLE 435861 0 150099 ALBANY INTERNATIONAL CORP CL A 012348108 24933 1317811 SH SOLE 980710 0 337101 ALLIANT TECHSYSTEMS INC NOTE 018804AH7 2003 2000000 PRN SOLE 2000000 0 0 AMERICAN STATES WATER COM 029899101 19942 557356 SH SOLE 413826 0 143530 BARNES GROUP INC COM 067806109 19780 1124484 SH SOLE 834556 0 289928 BRIGHAM EXPLORATION COM 109178103 35327 1884108 SH SOLE 1320322 0 563786 BROOKDALE SENIOR LIVING COM 112463104 37349 2289952 SH SOLE 1589891 0 700061 CAPSTEAD MORTGAGE CORP. COM NO PAR 14067E506 23417 2154296 SH SOLE 1600742 0 553554 CHESAPEAKE ENERGY NOTE 165167CB1 5006 6375000 PRN SOLE 6165000 0 210000 CHICAGO BRIDGE & IRON N Y REGISTRY SH167250109 18491 756294 SH SOLE 559911 0 196383 CNO FINANCIAL GROUP COM 12621E103 36222 6538316 SH SOLE 4473134 0 2065182 CORN PRODUCTS INT'L, INC. COM 219023108 23347 622591 SH SOLE 462950 0 159641 CROWN HOLDINGS INC COM 228368106 32615 1138002 SH SOLE 777927 0 360075 DARLING INTERNATIONAL COM 237266101 25978 3049118 SH SOLE 2286202 0 762916 EL PASO CORP. COM 28336L109 10175 821859 SH SOLE 474234 0 347625 ESTERLINE TECHNOLOGIES COM 297425100 33778 590223 SH SOLE 438888 0 151335 EXTERRAN HOLDING NOTE 30225XAA1 1625 1350000 PRN SOLE 1305000 0 45000 EXTERRAN HOLDINGS COM 30225X103 14481 637655 SH SOLE 440372 0 197283 FIFTH THIRD BANCORP COM 316773100 11111 923609 SH SOLE 526054 0 397555 FLUOR CORPORATION COM 343412102 8197 165496 SH SOLE 93206 0 72290 FOREST OIL CORP COM 346091705 40286 1356432 SH SOLE 945681 0 410751 GENWORTH FINANCIAL INC. COM 37247D106 7215 590441 SH SOLE 335806 0 254635 HARRIS CORP. COM 413875105 11170 252204 SH SOLE 138164 0 114040 HARRY WINSTON DIAMOND CORP. COM 41587B100 17895 1537345 SH SOLE 1146505 0 390840 HEALTH CARE REIT COM 42217K106 7439 157131 SH SOLE 93056 0 64075 HERTZ GLOBAL HOLDINGS COM 42805T105 9991 943458 SH SOLE 532458 0 411000 IBERIABANK CORP COM 450828108 17274 345619 SH SOLE 256520 0 89099 ION GEOPHYSICAL CORP COM 462044108 22248 4328467 SH SOLE 3209958 0 1118509 IRON MOUNTAIN COM 462846106 6478 289975 SH SOLE 163860 0 126115 JM SMUCKER COM NEW 832696405 8511 140604 SH SOLE 76134 0 64470 KINDRED HEALTHCARE INC COM 494580103 15646 1201664 SH SOLE 895305 0 306359 KLA TENCOR COM 482480100 5192 147385 SH SOLE 83795 0 63590 LENDER PROCESSING SERVICES COM 52602E102 6716 202115 SH SOLE 113410 0 88705 LTC PROPERTIES COM 502175102 18286 716517 SH SOLE 532877 0 183640 MASSEY ENERGY CO NOTE 576203AJ2 4908 5560000 PRN SOLE 5310000 0 250000 MEADWESTVACO CORP COM 583334107 9915 406704 SH SOLE 230159 0 176545 MEDTRONIC INC NOTE 585055AL0 30 30000 PRN SOLE 30000 0 0 OCWEN FINANCIAL COM 675746309 16380 1615370 SH SOLE 1193468 0 421902 OMEGA HEALTHCARE COM 681936100 46016 2049703 SH SOLE 1406322 0 643381 ONEOK INC COM 682680103 35288 783489 SH SOLE 536879 0 246610 OWENS ILLINOIS COM NEW 690768403 30413 1083862 SH SOLE 747189 0 336673 PENN VIRGINIA COM 707882106 23594 1470978 SH SOLE 1093608 0 377370 PERRIGO CO. COM 714290103 7741 120537 SH SOLE 68762 0 51775 PIONEER NATURAL RESOURCE NOTE 723787AH0 3964 3165000 PRN SOLE 3165000 0 0 REDWOOD TRUST INC. COM 758075402 15560 1076065 SH SOLE 796445 0 279620 SBA COMMUNICATIONS COM 78388J106 13026 323220 SH SOLE 184275 0 138945 SCHWEITZER-MAUDUIT INTERNATIONAL COM 808541106 19837 340197 SH SOLE 249560 0 90637 SENSIENT TECHNOLOGIES COM 81725T100 23400 767453 SH SOLE 570003 0 197450 SLM CORPORATION COM 78442P106 41570 3599143 SH SOLE 2484521 0 1114622 SOUTHERN UNION CO. COM 844030106 27937 1161157 SH SOLE 862580 0 298577 STEWART ENTERPRISES INC CL A 860370105 23243 4312229 SH SOLE 3197543 0 1114686 THOMAS & BETTS CORP. COM 884315102 13482 328663 SH SOLE 185778 0 142885 TIDEWATER INC COM 886423102 22045 491959 SH SOLE 341825 0 150134 TRINITY INDUSTRIES INC NOTE 896522AF6 4308 4760000 PRN SOLE 4760000 0 0 VERISK ANALYTICS COM 92345Y106 9245 330045 SH SOLE 187220 0 142825 WASHINGTON FEDERAL, INC. COM 938824109 8269 541167 SH SOLE 302722 0 238445 WENDY'S/ARBY'S GROUP COM 950587105 9321 2057712 SH SOLE 1166562 0 891150 WEYERHAEUSER COMPANY COM 962166104 8048 510649 SH SOLE 288468 0 222181 WILLIAMS COS, INC. COM 969457100 9212 482062 SH SOLE 259637 0 222425 YAMANA GOLD, INC. COM 98462Y100 12493 1095908 SH SOLE 616528 0 479380