13F-HR 1 gwc2q09.txt GW CAPITAL, INC. 2Q09 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, 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 August 5, 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: 65 Form13F Information Table Value Total: $698,528 (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 20762 637459 SH SOLE 475070 0 162389 ALBANY INTL CORP CL A 012348108 8106 712290 SH SOLE 531950 0 180340 ALPHA NATURAL RESOURCES NOTE 02076XAA0 239 300000 PRN SOLE 0 0 300000 AMERICAN STS WTR CO COM 029899101 16887 487509 SH SOLE 364089 0 123420 ANIXTER INTL INC COM 035290105 5933 157836 SH SOLE 93376 0 64460 BARNES GROUP INC COM 067806109 11381 957228 SH SOLE 715971 0 241257 BOSTON PROPERTIES LP NOTE 10112RAK0 3505 4000000 PRN SOLE 3535000 0 465000 BRINK'S HOME SECURITY COM 109699108 4768 168432 SH SOLE 126081 0 42351 BROOKDALE SENIOR LIVING COM 112463104 20744 2129744 SH SOLE 1521815 0 607929 CAPSTEAD MORTGAGE CORP. COM NO PAR 14067E506 14891 1171583 SH SOLE 879554 0 292029 CHESAPEAKE ENERGY CORP NOTE 165167CB1 3990 6500000 PRN SOLE 5725000 0 775000 CIT GROUP, INC. COM 125581108 10849 5046137 SH SOLE 3552466 0 1493671 COCA-COLA ENTERPRISES COM 191219104 6438 386678 SH SOLE 231403 0 155275 CONSECO INC DBCV 208464BH9 3054 5930000 PRN SOLE 5180000 0 750000 CORN PRODUCTS INT'L, INC. COM 219023108 14426 538466 SH SOLE 403699 0 134767 CROWN HOLDINGS INC COM 228368106 29637 1227702 SH SOLE 863955 0 363747 DEAN FOODS COM 242370104 7714 401989 SH SOLE 246889 0 155100 EL PASO CORP. COM 28336L109 4773 517066 SH SOLE 317231 0 199835 ESTERLINE COM 297425100 13725 507024 SH SOLE 381389 0 125635 EXTERRAN HOLDING NOTE 30225XAA1 3244 3492597 PRN SOLE 3042075 0 450522 EXTERRAN HOLDINGS COM NEW 30225X103 16222 1011339 SH SOLE 691496 0 319843 FLUOR CORPORATION COM 343412102 7609 148362 SH SOLE 91137 0 57225 GENERAL CABLE CORP NOTE 369300AK4 1570 2000000 SH SOLE 1500000 0 500000 GREENBRIER COS INC NOTE 393657AD3 819 1500000 SH SOLE 1000000 0 500000 HARRIS CORP. COM 413875105 6658 234769 SH SOLE 138209 0 96560 HEALTH CARE REIT INC COM 42217K106 25075 735348 SH SOLE 518693 0 216655 HEALTHCARE RLTY TR INC COM 421946104 22687 1348012 SH SOLE 944100 0 403912 HERSHEY COMPANY COM 427866108 5862 162823 SH SOLE 100168 0 62655 HORNBECK OFFSHORE SRVCS FRNT 440543AE6 107 500000 PRN SOLE 0 0 500000 INTEL CORP SDCV 458140AD2 83 500000 PRN SOLE 0 0 500000 INTL GAME TECHNOLOGY DBCV 459902AP7 444 450000 PRN SOLE 0 0 450000 ION GEOPHYSICAL CORP COM NEW 462044108 9498 3695601 SH SOLE 2743447 0 952154 JM SMUCKER COM NEW 832696405 6417 131866 SH SOLE 78426 0 53440 KINDRED HEALTHCARE INC COM 494580103 12683 1025321 SH SOLE 770243 0 255078 LTC PPTYS INC COM 502175102 17766 868771 SH SOLE 649671 0 219100 MASSEY ENERGY CO NOTE 576203AJ2 2640 4000000 PRN SOLE 3060000 0 940000 MCCORMICK & CO. COM NON VTG 579780206 5456 167711 SH SOLE 102326 0 65385 MEADWESTVACO CORP. COM 583334107 10044 612045 SH SOLE 354240 0 257805 MILLIPORE CORP NOTE 601073AD1 395 400000 PRN SOLE 0 0 400000 NORTHWESTERN CORP COM NEW 668074305 18698 821519 SH SOLE 616864 0 204655 NV ENERGY INC COM 67073Y106 8688 805216 SH SOLE 498501 0 306715 OMEGA HEALTHCARE INVS INC COM 681936100 28297 1823252 SH SOLE 1270497 0 552755 OMNICARE INC DBCV 681904AL2 1326 1914961 PRN SOLE 1514961 0 400000 OMNICARE, INC. COM 681904108 4768 185075 SH SOLE 104445 0 80630 ONEOK INC NEW COM 682680103 25213 854972 SH SOLE 612437 0 242535 OWENS ILLINOIS INC NEW COM NEW 690768403 31138 1111683 SH SOLE 787032 0 324651 PEPSI BOTTLING GROUP COM 713409100 4138 122267 SH SOLE 78567 0 43700 PERRIGO CO. COM 714290103 6453 232303 SH SOLE 137853 0 94450 PIONEER NATURAL RESOURCE NOTE 723787AH0 2614 3000000 PRN SOLE 2510000 0 490000 PPG INDUSTRIES COM 693506107 2363 53824 SH SOLE 31529 0 22295 SENSIENT TECHNOLOGIES COM 81725T100 14824 656785 SH SOLE 491914 0 164871 SINCLAIR BROADCAST GROUP NOTE 829226AW9 634 750000 PRN SOLE 0 0 750000 SLM CORPORATION COM 78442P106 39114 3808613 SH SOLE 2660703 0 1147910 SOUTHERN UNION CO. COM 844030106 12029 654118 SH SOLE 486098 0 168020 SOUTHWEST GAS CORP COM 844895102 21336 960644 SH SOLE 676173 0 284471 STEWART ENTERPRISES INC CL A CLA 860370105 10770 2234398 SH SOLE 1674343 0 560055 TETRA TECH, INC. COM 88162G103 12007 419076 SH SOLE 313323 0 105753 THOMAS & BETTS CORP. COM 884315102 5088 176300 SH SOLE 106480 0 69820 TIDEWATER INC COM 886423102 18636 434706 SH SOLE 306551 0 128155 TRANSOCEAN INC NOTE 893830AW9 2560 2905000 PRN SOLE 2555000 0 350000 VECTREN CORP COM 92240G101 22976 980637 SH SOLE 698292 0 282345 WALTER ENERGY, INC. NOTE 93317Q105 12510 345195 PRN SOLE 255750 0 89445 WESTAR ENERGY INC COM 95709T100 23681 1261626 SH SOLE 904606 0 357020 WEYERHAEUSER COMPANY COM 962166104 5265 173019 SH SOLE 102109 0 70910 WILLIAMS COS, INC. COM 969457100 6301 403660 SH SOLE 216265 0 187395