13F-HR 1 gwc1q09.txt GW CAPITAL, INC. 1Q09 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: March 31, 2009 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 14, 2009 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: 62 Form13F Information Table Value Total: $575,817 (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 16257 645618 SH SOLE 471425 0 174193 ALBANY INTL CORP CL A 012348108 6267 692442 SH SOLE 504793 0 187649 AMERICAN STS WTR CO COM 029899101 17300 476314 SH SOLE 340039 0 136275 ANIXTER INTL INC COM 035290105 5530 174544 SH SOLE 96644 0 77900 BARNES GROUP INC COM 067806109 10290 962556 SH SOLE 701548 0 261008 BOSTON PROPERTIES LP NOTE 10112RAK0 3115 4000000 PRN SOLE 3535000 0 465000 BRINK'S HOME SECURITY COM 109699108 3821 169086 SH SOLE 123132 0 45954 BROOKDALE SENIOR LIVING COM 112463104 13153 2604531 SH SOLE 1691801 0 912730 CAPSTEAD MORTGAGE CORP. COM NO PAR 14067E506 12615 1174613 SH SOLE 857932 0 316681 CHESAPEAKE ENERGY CORP NOTE 165167CB1 3348 6500000 PRN SOLE 5725000 0 775000 CIT GROUP, INC. COM 125581108 16906 5932021 SH SOLE 3912956 0 2019065 COCA-COLA ENTERPRISES COM 191219104 8189 620814 SH SOLE 360309 0 260505 CONSECO INC DBCV 208464BH9 1364 5930000 PRN SOLE 5180000 0 750000 CORN PRODUCTS INT'L, INC. COM 219023108 8013 377980 SH SOLE 282594 0 95386 CROWN HOLDINGS INC COM 228368106 28522 1254814 SH SOLE 852612 0 402202 DEAN FOODS COM 242370104 7590 419806 SH SOLE 239241 0 180565 EL PASO CORP. COM 28336L109 3245 519123 SH SOLE 324018 0 195105 ESTERLINE COM 297425100 10310 510673 SH SOLE 374665 0 136008 EXTERRAN HOLDINGS COM NEW 30225X103 11402 711733 SH SOLE 481812 0 229921 FLUOR CORPORATION COM 343412102 5427 157090 SH SOLE 89600 0 67490 GENERAL CABLE CORP NOTE 369300AK4 1418 2000000 PRN SOLE 1500000 0 500000 GREENBRIER COS INC NOTE 393657AD3 753 2000000 PRN SOLE 1500000 0 500000 HANOVER COMPRESSOR NOTE 410768AE5 276 400000 PRN SOLE 0 0 400000 HARRIS CORP. COM 413875105 5415 187115 SH SOLE 117000 0 70115 HEALTH CARE REIT INC COM 42217K106 24144 789270 SH SOLE 551333 0 237937 HEALTHCARE RLTY TR INC COM 421946104 18231 1216215 SH SOLE 820295 0 395920 HEARST-ARGYLE TV INC COM 422317107 5804 1395090 SH SOLE 1000204 0 394886 HERSHEY COMPANY COM 427866108 5954 171332 SH SOLE 98517 0 72815 HORNBECK OFFSHORE SRVCS FRNT 440543AE6 308 500000 PRN SOLE 0 0 500000 INTEL CORP SDCV 458140AD2 410 500000 PRN SOLE 0 0 500000 INTL GAME TECHNOLOGY DBCV 459902AP7 969 1000000 PRN SOLE 550000 0 450000 ION GEOPHYSICAL CORP COM NEW 462044108 8592 5507876 SH SOLE 3680963 0 1826913 JM SMUCKER COM NEW 832696405 5137 137822 SH SOLE 75137 0 62685 KINDRED HEALTHCARE INC COM 494580103 15394 1029728 SH SOLE 753310 0 276418 LTC PPTYS INC COM 502175102 15361 875775 SH SOLE 638680 0 237095 MASSEY ENERGY CO NOTE 576203AJ2 2450 4000000 PRN SOLE 3060000 0 940000 MCCORMICK & CO. COM NON VTG 579780206 5302 179312 SH SOLE 103102 0 76210 MEADWESTVACO CORP. COM 583334107 4678 390132 SH SOLE 161692 0 228440 MILLIPORE CORP NOTE 601073AD1 376 400000 PRN SOLE 0 0 400000 MURPHY OIL CORP. COM 626717102 5857 130831 SH SOLE 75051 0 55780 NORTHWESTERN CORP COM NEW 668074305 17748 826247 SH SOLE 604727 0 221520 NV ENERGY INC COM 67073Y106 8050 857306 SH SOLE 493041 0 364265 OMEGA HEALTHCARE INVS INC COM 681936100 26702 1896416 SH SOLE 1282757 0 613659 OMNICARE INC DBCV 681904AL2 262 400000 PRN SOLE 0 0 400000 ONEOK INC NEW COM 682680103 19870 878028 SH SOLE 603093 0 274935 OWENS ILLINOIS INC NEW COM NEW 690768403 16527 1144515 SH SOLE 783839 0 360676 PEPSI BOTTLING GROUP COM 713409100 6797 307000 SH SOLE 176970 0 130030 PIONEER NATURAL RESOURCE NOTE 723787AH0 2220 3000000 PRN SOLE 2510000 0 490000 SENSIENT TECHNOLOGIES COM 81725T100 10285 437671 SH SOLE 315271 0 122400 SINCLAIR BROADCAST GROUP NOTE 829226AU3 1055 2511768 PRN SOLE 2511768 0 0 SLM CORPORATION COM 78442P106 3056 617315 SH SOLE 374375 0 242940 SOUTHERN UNION CO. COM 844030106 10245 673150 SH SOLE 490575 0 182575 SOUTHWEST GAS CORP COM 844895102 20477 971857 SH SOLE 655116 0 316741 STEWART ENTERPRISES INC CL A CLA 860370105 7319 2259072 SH SOLE 1646599 0 612473 TEMPLE-INLAND, INC. COM 879868107 14299 2662722 SH SOLE 1808031 0 854691 TETRA TECH, INC. COM 88162G103 8607 422346 SH SOLE 307459 0 114887 THOMAS & BETTS CORP. COM 884315102 4721 188704 SH SOLE 108254 0 80450 TIDEWATER INC COM 886423102 26356 709829 SH SOLE 484914 0 224915 TRANSOCEAN INC NOTE 893830AW9 2378 2905000 PRN SOLE 2555000 0 350000 VECTREN CORP COM 92240G101 21240 1007113 SH SOLE 691293 0 315820 WESTAR ENERGY INC COM 95709T100 22655 1292358 SH SOLE 890498 0 401860 WILLIAMS COS, INC. COM 969457100 5455 479346 SH SOLE 259391 0 219955