13F-HR 1 rwc13fhr051211.txt FORM 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: 31 March 2011 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: RWC Asset Management LLP Address: 60 Petty France, London, SW1H 9EU, United Kingdom Form 13F File Number: 28-_________ 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: Gemma Bainbridge Title: Finance Director Phone: +44 207 227 6108 Signature, Place, and Date of Signing: Gemma Bainbridge London, England 12 May 2011 ----------------------- --------------- ----------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: None Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: nil Form 13F Information Table Entry Total: 347,527,588 Form 13F Information Table Value Total: $84085.3 (thousands)
------------------------------------------------------------------------------------------------------------------------------------ Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Title of US$Value Shrs Or SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x$1000) Prn Amt PRN Call Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ * FOREST OIL CORP A174 COM 346091705 287.508 7,600 SHS sole 7,600 * FOREST OIL CORP COM 346091705 1051.674 27,800 SHS sole 27,800 * FOREST OIL CORP COM 346091705 3915.405 103,500 SHS sole 103,500 CHESAPEAKE ENERGY CORP NOTE 165167BW6 8190 7,000,000 PRN sole 7,000,000 * CALPINE CORP COM 131347304 30.24 126 SHS sole 126 * CALPINE CORP COM 131347304 237.6 990 SHS sole 990 * CALPINE CORP COM 131347304 468 1,950 SHS sole 1,950 * PETROHAWK ENERGY CORP COM 716495106 569.0826 23,190 SHS sole 23,190 * PETROHAWK ENERGY CORP COM 716495106 7797.119 317,731 SHS sole 317,731 * PETROHAWK ENERGY CORP COM 716495106 2087.25 85,055 SHS sole 85,055 * INTUIT COM 461202103 223.062 4,200 SHS sole 4,200 * CITRIX SYS INC COM 177376100 132.228 1,800 SHS sole 1,800 * CTRIP COM 22943F100 207.45 5,000 SHS sole 5,000 ONYX PHARMACEUTICALS INC NOTE 683399AB5 3513.279 3,000,000 PRN sole 3,000,000 * TEREX CORP NEW COM 880779103 350.5095 9,463 SHS sole 9,463 * TEREX CORP NEW COM 880779103 4867.982 131,425 SHS sole 131,425 * TEREX CORP NEW COM 880779103 1301.474 35,137 SHS sole 35,137 * SANDISK CORP COM 80004C101 276.54 6,000 SHS sole 6,000 NEWMONT MINING CORP NOTE 651639AK2 5060 4,000,000 PRN sole 4,000,000 * INTL PAPER CO COM 460146103 354.8564 11,758 SHS sole 11,758 * INTL PAPER CO COM 460146103 4965.365 164,525 SHS sole 164,525 * INTL PAPER CO COM 460146103 1292.127 42,814 SHS sole 42,814 JDS UNIPHASE CORP NOTE 46612JAD3 4333.74 4,000,000 PRN sole 4,000,000 * CSX CORP COM 126408103 479.46 6,100 SHS sole 6,100 * CSX CORP COM 126408103 6636.748 84,437 SHS sole 84,437 * CSX CORP COM 126408103 1741.304 22,154 SHS sole 22,154 * CHEMTURA CORP COM 163893209 439.2364 25,537 SHS sole 25,537 * CHEMTURA CORP COM 163893209 1597.089 92,854 SHS sole 92,854 * CHEMTURA CORP COM 163893209 6215.461 361,364 SHS sole 361,364 * DOW CHEM CO COM 260543103 704.264 18,656 SHS sole 18,656 * DOW CHEM CO COM 260543103 2590.707 68,628 SHS sole 68,628 * DOW CHEM CO COM 260543103 9669.663 256,150 SHS sole 256,150 CHESAPEAKE ENERGY CORP NOTE 165167BZ9 3315 3,000,000 PRN sole 3,000,000 * MOHAWK INDS INC COM 608190104 588.1407 9,618 SHS sole 9,618 * MOHAWK INDS INC COM 608190104 2141.534 35,021 SHS sole 35,021 * MOHAWK INDS INC COM 608190104 8157.349 133,399 SHS sole 133,399 * ORACLE CORP COM 68389X105 371.1008 11,100 SHS sole 11,100 * ORACLE CORP COM 68389X105 993.3464 29,712 SHS sole 29,712 * ORACLE CORP COM 68389X105 13800.67 412,792 SHS sole 412,792 * ORACLE CORP COM 68389X105 3621.041 108,309 SHS sole 108,309
------------------------------------------------------------------------------------------------------------------------------------ Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Title of US$Value Shrs Or SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x$1000) Prn Amt PRN Call Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ * SUCCESSFACTORS INC COM 864596101 156.36 4,000 SHS sole 4,000 * BAIDU INC SPON ADR 056752108 642.8837 4,665 SHS sole 4,665 * BAIDU INC SPON ADR 056752108 8927.056 64,778 SHS sole 64,778 * BAIDU INC SPON ADR 056752108 2343.597 17,006 SHS sole 17,006 INTERPUBLIC GROUP COS INC NOTE 460690BA7 14909.38 13,000,000 PRN sole 13,000,000 * TEXTRON INC COM 883203101 560.5911 20,467 SHS sole 20,467 * TEXTRON INC COM 883203101 7712.832 281,593 SHS sole 281,593 * TEXTRON INC COM 883203101 2068.219 75,510 SHS sole 75,510 DENDREON CORP NOTE 24823QAC1 5261.47 5,000,000 PRN sole 5,000,000 * GOOGLE INC 38259P508 322.718 550 SHS sole 550 HEALTH CARE REIT INC NOTE 42217KAP1 19520.36 17,185,000 PRN sole 17,185,000 SYMANTEC CORP NOTE 871503AF5 14485.38 12,000,000 PRN sole 12,000,000 * CABLEVISION SYS CORP CL A NY CABLVS COM 12686C109 425.703 12,300 SHS sole 12,300 * WATSCO INC COM 942622200 139.2109 1,997 SHS sole 1,997 * WATSCO INC COM 942622200 507.6282 7,282 SHS sole 7,282 * WATSCO INC COM 942622200 1967.286 28,221 SHS sole 28,221 * WABCO HLDGS INC COM 92927K102 405.7145 6,582 SHS sole 6,582 * WABCO HLDGS INC COM 92927K102 1475.045 23,930 SHS sole 23,930 * WABCO HLDGS INC COM 92927K102 5706.323 92,575 SHS sole 92,575 * DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 420.399 6,300 SHS sole 6,300 * DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 5792.164 86,800 SHS sole 86,800 * DOLLAR THRIFTY AUTOMOTIVE GP COM 256743105 1548.136 23,200 SHS sole 23,200 * JOS A BANK CLOTHIERS INC COM 480838101 702.144 13,800 SHS sole 13,800 * JOS A BANK CLOTHIERS INC COM 480838101 9626.852 189,207 SHS sole 189,207 * JOS A BANK CLOTHIERS INC COM 480838101 2579.616 50,700 SHS sole 50,700 * QUAL COM 747525103 274.15 5,000 SHS sole 5,000 * PMC-SIERRA INC COM 69344F106 194.509 25,900 SHS sole 25,900 * VIRGIN MEDIA INC COM 92769L101 222.32 8,000 SHS sole 8,000 AFFILIATED MANAGERS GROUP NOTE 008252AL2 11800 10,000,000 PRN sole 10,000,000 * LIBERTY MEDIA CORP NEW LIB STAR COM 53071M708 442.32 5,700 SHS sole 5,700 ALLIANCE DATA SYSTEMS CORP NOTE 018581AD0 7211.604 6,000,000 PRN sole 6,000,000 * PENN NATL GAMING INC COM 707569109 437.308 11,800 SHS sole 11,800 * PENN NATL GAMING INC COM 707569109 1586.168 42,800 SHS sole 42,800 * PENN NATL GAMING INC COM 707569109 5918.482 159,700 SHS sole 159,700 * WASTE MGMT INC DEL COM 94106L109 984.133 26,356 SHS sole 26,356 * WASTE MGMT INC DEL COM 94106L109 13659.83 365,823 SHS sole 365,823 * WASTE MGMT INC DEL COM 94106L109 3584.043 95,984 SHS sole 95,984 SANDISK CORP NOTE 80004CAD3 11343.08 10,000,000 PRN sole 10,000,000 * TD AMERITRADE HLDG CORP COM 87236Y108 277.2371 13,284 SHS sole 13,284 * TD AMERITRADE HLDG CORP COM 87236Y108 1012.445 48,512 SHS sole 48,512 * TD AMERITRADE HLDG CORP COM 87236Y108 3845.819 184,275 SHS sole 184,275 * HONEYWELL INTL INC COM 438516106 222.0615 3,719 SHS sole 3,719 * HONEYWELL INTL INC COM 438516106 3156.569 52,865 SHS sole 52,865
------------------------------------------------------------------------------------------------------------------------------------ Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Title of US$Value Shrs Or SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x$1000) Prn Amt PRN Call Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ * HONEYWELL INTL INC COM 438516106 808.772 13,545 SHS sole 13,545 * GOODYEAR TIRE & RUBR CO COM 382550101 427.7239 28,553 SHS sole 28,553 * GOODYEAR TIRE & RUBR CO COM 382550101 5929.174 395,806 SHS sole 395,806 * GOODYEAR TIRE & RUBR CO COM 382550101 1560.661 104,183 SHS sole 104,183 * WENDYS ARBYS GROUP INC COM 950587105 1438.359 285,956 SHS sole 285,956 * WENDYS ARBYS GROUP INC COM 950587105 19950.55 3,966,312 SHS sole 3,966,312 * WENDYS ARBYS GROUP INC COM 950587105 5237.568 1,041,266 SHS sole 1,041,266 MICROCHIP TECHNOLOGY INC 595017AB0 2735 2,000,000 SHS sole 2,000,000 VORNADO RLTY L P DEB 3.875% 4/1 NOTE 929043AC1 10057.05 9,000,000 PRN sole 9,000,000 * AMERICAN TOWER CORP CL A COM 029912201 108.822 2,100 SHS sole 2,100 EQUINIX INC NOTE 29444UAG1 14034.37 13,000,000 PRN sole 13,000,000 INTEL CORP SDCV 2.950%12/1 NOTE 458140AD2 16531.98 16,000,000 PRN sole 16,000,000 TECH DATA CORP DBCV 2.750%12/1 NOTE 878237AE6 25872 24,000,000 PRN sole 24,000,000 * NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 303.2121 3,030 SHS sole 3,030 ARCHER DANIELS MIDLAND CO NOTE 039483AW2 21070.18 19,000,000 PRN sole 19,000,000 SANDISK CORP NOTE 80004CAC5 3911.458 4,000,000 PRN sole 4,000,000 * CELANESE CORP DEL COM 150870103 2593.293 58,447 SHS sole 58,447 * CELANESE CORP DEL COM 150870103 9678.428 218,130 SHS sole 218,130 * CELANESE CORP DEL COM 150870103 706.1486 15,915 SHS sole 15,915 RAYONIER TRS HLDGS INC NOTE 75508AAB2 11417.34 9,510,000 PRN sole 9,510,000 LINEAR TECHNOLOGY CORP NOTE 535678AC0 19305 18,000,000 PRN sole 18,000,000 * LILLY ELI & CO COM 532457108 2376.402 67,569 SHS sole 67,569 * LILLY ELI & CO COM 532457108 3271.443 93,018 SHS sole 93,018 * LILLY ELI & CO COM 532457108 4090.095 116,295 SHS sole 116,295 * APPLE INC COM 037833100 505.3366 1,450 SHS sole 1,450 * APPLE INC COM 037833100 4745.633 13,617 SHS sole 13,617 * APPLE INC COM 037833100 357.2207 1,025 SHS sole 1,025 * APPLE INC COM 037833100 1234.415 3,542 SHS sole 3,542 EQUINIX INC NOTE 29444UAF3 14001.08 13,500,000 PRN sole 13,500,000 MEDTRONIC INC NOTE 585055AM8 23667.35 23,000,000 PRN sole 23,000,000 * CAMELOT INFORMATION SYS INC ADS RP ORD COM 13322V105 38.57175 2,325 SHS sole 2,325 BOSTON PPTYS LTD PARTNERSHIP NOTE 10112RAG9 13812.3 12,000,000 PRN sole 12,000,000 PEABODY ENERGY CORP SDCV 4.750%12/1 NOTE 704549AG9 3975.801 3,000,000 PRN sole 3,000,000 * PFIZER INC COM 717081103 2713.254 133,592 SHS sole 133,592 * PFIZER INC COM 717081103 6752.222 332,458 SHS sole 332,458 * PFIZER INC COM 717081103 4502.565 221,692 SHS sole 221,692 * MGM RESORTS INTERNATIONAL COM 552953101 224.865 17,100 SHS sole 17,100 * MGM RESORTS INTERNATIONAL COM 552953101 3078.415 234,100 SHS sole 234,100 * MGM RESORTS INTERNATIONAL COM 552953101 824.505 62,700 SHS sole 62,700 SBA COM 78388JAN6 11360.15 10,000,000 SHS sole 10,000,000 * JOHNSON & JOHNSON COM 478160104 2417.696 40,805 SHS sole 40,805 MASSEY ENERGY CO NOTE 576203AJ2 7957.523 7,000,000 PRN sole 7,000,000 * GENERAL ELECTRIC CO COM 369604103 211.4674 10,547 SHS sole 10,547
------------------------------------------------------------------------------------------------------------------------------------ Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Title of US$Value Shrs Or SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x$1000) Prn Amt PRN Call Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ * GENERAL ELECTRIC CO COM 369604103 2930.368 146,153 SHS sole 146,153 * GENERAL ELECTRIC CO COM 369604103 769.9601 38,402 SHS sole 38,402 * REPUBLIC SVCS INC COM 760759100 15792.15 525,704 SHS sole 525,704 * REPUBLIC SVCS INC COM 760759100 1137.855 37,878 SHS sole 37,878 * REPUBLIC SVCS INC COM 760759100 4143.898 137,946 SHS sole 137,946 MYLAN INC NOTE 628530AG2 18636.25 17,000,000 PRN sole 17,000,000 VIRGIN MEDIA INC NOTE 92769LAB7 5074.875 3,000,000 PRN sole 3,000,000 * TEXAS INSTRS INC COM 882508104 138.24 4,000 SHS sole 4,000 * OPENTABLE INC COM 68372A104 691.275 6,500 SHS sole 6,500 * OPENTABLE INC COM 68372A104 9507.69 89,400 SHS sole 89,400 * OPENTABLE INC COM 68372A104 2552.4 24,000 SHS sole 24,000 ALPHA NATURAL RESOURCES INC NOTE 02076XAA0 2703.944 2,000,000 PRN sole 2,000,000 * HERSHEY CO COM 427866108 831.392 15,297 SHS sole 15,297 * HERSHEY CO COM 427866108 3055.068 56,211 SHS sole 56,211 * HERSHEY CO COM 427866108 11362.95 209,070 SHS sole 209,070 * BAKER HUGHES INC COM 057224107 971.4789 13,230 SHS sole 13,230 * BAKER HUGHES INC COM 057224107 13393.26 182,395 SHS sole 182,395 * BAKER HUGHES INC COM 057224107 3527.137 48,034 SHS sole 48,034 * ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 554.3203 9,696 SHS sole 9,696 * ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 7749.05 135,544 SHS sole 135,544 * ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 2018.215 35,302 SHS sole 35,302 * HSN INC COM 404303109 591.7543 18,475 SHS sole 18,475 * HSN INC COM 404303109 8254.772 257,720 SHS sole 257,720 * HSN INC COM 404303109 2153.345 67,229 SHS sole 67,229 * VEECO INSTRS INC DEL COM 922417100 122.016 2,400 SHS sole 2,400 * MICROSOFT CORP COM 594918104 3180.301 125,258 SHS sole 125,258 * MICROSOFT CORP COM 594918104 2300.359 90,601 SHS sole 90,601 * MICROSOFT CORP COM 594918104 4004.663 157,726 SHS sole 157,726 * DICKS SPORTING GOODS INC COM 253393102 295.6521 7,395 SHS sole 7,395 * DICKS SPORTING GOODS INC COM 253393102 4090.674 102,318 SHS sole 102,318 * DICKS SPORTING GOODS INC COM 253393102 1072.503 26,826 SHS sole 26,826 * MERCK & CO INC NEW COM 58933Y105 2473.604 74,935 SHS sole 74,935 * MERCK & CO INC NEW COM 58933Y105 5212.18 157,897 SHS sole 157,897 * MERCK & CO INC NEW COM 58933Y105 3452.516 104,590 SHS sole 104,590 * DELL INC COM 24702R101 376.8537 25,972 SHS sole 25,972 * DELL INC COM 24702R101 1347.007 92,833 SHS sole 92,833 * DELL INC COM 24702R101 1035.854 71,389 SHS sole 71,389 MICRON TECHNOLOGY INC NOTE 595112AH6 5907.825 5,500,000 PRN sole 5,500,000 * ENSCO PLC SPONSORED ADR 29358Q109 1375.84 23,787 SHS sole 23,787 * ENSCO PLC SPONSORED ADR 29358Q109 18906.57 326,877 SHS sole 326,877 * ENSCO PLC SPONSORED ADR 29358Q109 5069.734 87,651 SHS sole 87,651 GILEAD SCIENCES INC NOTE 375558AH6 10973.96 9,000,000 PRN sole 9,000,000 * E M C CORP MASS COM 268648102 212.48 8,000 SHS sole 8,000
------------------------------------------------------------------------------------------------------------------------------------ Column 1 Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Title of US$Value Shrs Or SH/ Put/ Investment Other Voting Authority Name of Issuer Class CUSIP (x$1000) Prn Amt PRN Call Discretion Managers Sole Shared None ------------------------------------------------------------------------------------------------------------------------------------ * OFFICE DEPOT INC COM 676220106 271.781 58,700 SHS sole 58,700 * OFFICE DEPOT INC COM 676220106 3751.689 810,300 SHS sole 810,300 * OFFICE DEPOT INC COM 676220106 998.228 215,600 SHS sole 215,600 * OFFICEMAX INC DEL COM 67622P101 576.7358 44,570 SHS sole 44,570 * OFFICEMAX INC DEL COM 67622P101 7999.443 618,195 SHS sole 618,195 * OFFICEMAX INC DEL COM 67622P101 2100.071 162,293 SHS sole 162,293 * LOWES COS INC COM 548661107 824.8803 31,210 SHS sole 31,210 * LOWES COS INC COM 548661107 3004.642 113,683 SHS sole 113,683 * LOWES COS INC COM 548661107 11418.98 432,046 SHS sole 432,046 * BROAD COM 111320107 118.14 3,000 SHS sole 3,000 E M C CORP MASS NOTE 268648AM4 5853.75 3,500,000 PRN sole 3,500,000 * VALERO ENERGY CORP NEW COM 91913Y100 579.8201 19,444 SHS sole 19,444 * VALERO ENERGY CORP NEW COM 91913Y100 8243.65 276,447 SHS sole 276,447 * VALERO ENERGY CORP NEW COM 91913Y100 2105.471 70,606 SHS sole 70,606 * TESORO CORP COM 881609101 1009.693 37,633 SHS sole 37,633 * TESORO CORP COM 881609101 3677.078 137,051 SHS sole 137,051 * TESORO CORP COM 881609101 14023.1 522,665 SHS sole 522,665 * APPLE INC COM 037833100 5.181 011 SHS sole 011 * APPLE INC COM 037833100 70.65 150 SHS sole 150 * APPLE INC COM 037833100 18.369 039 SHS sole 039 GOLDCORP INC NEW NOTE 380956AB8 4840 4,000,000 PRN sole 4,000,000 * SPDR S&P 500 ETF TR TR UNIT PUT 78462F103 2.1 100 SHS sole 100 * TIVO INC COM 888706108 6.45 050 SHS sole 050 STANLEY WKS FRNT 5/1 NOTE 854616AM1 8260 7,000,000 PRN sole 7,000,000 * SPDR S&P 500 ETF TR TR UNIT PUT 78462F103 13.45 538 SHS sole 538 * SPDR S&P 500 ETF TR TR UNIT PUT 78462F103 187.525 7,501 SHS sole 7,501 * SPDR S&P 500 ETF TR TR UNIT PUT 78462F103 49.025 1,961 SHS sole 1,961 * MGM RESORTS INTERNATIONAL COM 552953101 13.708 596 SHS sole 596 * MGM RESORTS INTERNATIONAL COM 552953101 50.301 2,187 SHS sole 2,187 * MGM RESORTS INTERNATIONAL COM 552953101 188.991 8,217 SHS sole 8,217 * MGM RESORTS INTERNATIONAL COM 552953101 6.556 596 SHS sole 596 * MGM RESORTS INTERNATIONAL COM 552953101 90.387 8,217 SHS sole 8,217 * MGM RESORTS INTERNATIONAL COM 552953101 24.057 2,187 SHS sole 2,187