13F-HR 1 gwc4q09.txt GW CAPITAL, INC. QTR 4 2009 13-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 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 February 9, 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: 62 Form13F Information Table Value Total: $948,528 (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 29568 681444 SH SOLE 531844 0 149600 ALBANY INTL CORP CL A 012348108 16819 748856 SH SOLE 585480 0 163376 AMERICAN STS WTR CO COM 029899101 18052 509794 SH SOLE 400064 0 109730 ANIXTER INTL INC COM 035290105 7876 167223 SH SOLE 101598 0 65625 BARNES GROUP INC COM 067806109 17413 1030352 SH SOLE 808261 0 222091 BOSTON PROPERTIES LP NOTE 10112RAK0 3469 3535000 PRN SOLE 3410000 0 125000 BRIGHAM EXPLORATION COM 109178103 29662 2189098 SH SOLE 1643394 0 545704 BRINK'S HOME SECURITY COM 109699108 14057 430659 SH SOLE 336874 0 93785 BROOKDALE SENIOR LIVING COM 112463104 39697 2182339 SH SOLE 1607227 0 575112 CAPSTEAD MORTGAGE CORP. COM NO PAR 14067E506 16998 1245249 SH SOLE 979764 0 265485 CHESAPEAKE ENERGY CORP NOTE 165167CB1 4330 5725000 PRN SOLE 5515000 0 210000 COCA-COLA ENTERPRISES COM 191219104 8822 416128 SH SOLE 258096 0 158032 CONSECO INC COM 208464883 20766 4153195 SH SOLE 3255125 0 898070 CORN PRODUCTS INT'L, INC. COM 219023108 16677 570540 SH SOLE 448325 0 122215 CROWN HOLDINGS INC COM 228368106 27689 1082452 SH SOLE 787911 0 294541 DARLING INTERNATIONAL COM 237266101 18619 2221895 SH SOLE 1801491 0 420404 DEAN FOODS COM 242370104 7592 420835 SH SOLE 263095 0 157740 EL PASO CORP. COM 28336L109 5476 557119 SH SOLE 353814 0 203305 ESTERLINE COM 297425100 22204 544610 SH SOLE 428740 0 115870 EXTERRAN HOLDING NOTE 30225XAA1 3697 3160000 PRN SOLE 3070000 0 90000 EXTERRAN HOLDINGS COM NEW 30225X103 24267 1131311 SH SOLE 822406 0 308905 FIFTH THIRD BANCORP COM 316773100 4606 472364 SH SOLE 292144 0 180220 FLUOR CORPORATION COM 343412102 4190 93021 SH SOLE 56586 0 36435 FOREST OIL CORP COM 346091705 12324 553870 SH SOLE 432731 0 121139 GENWORTH FINANCIAL INC. COM 37247D106 10694 942179 SH SOLE 583354 0 358825 HARRIS CORP. COM 413875105 11955 251427 SH SOLE 150677 0 100750 HEALTH CARE REIT INC COM 42217K106 28426 641386 SH SOLE 464362 0 177024 HERSHEY COMPANY COM 427866108 6162 172167 SH SOLE 108442 0 63725 IBERIABANK CORP COM 450828108 16964 315255 SH SOLE 248587 0 66668 ION GEOPHYSICAL CORP COM NEW 462044108 23377 3948844 SH SOLE 3103179 0 845665 JM SMUCKER COM NEW 832696405 8705 140965 SH SOLE 84405 0 56560 KINDRED HEALTHCARE INC COM 494580103 20364 1103158 SH SOLE 868070 0 235088 LTC PPTYS INC COM 502175102 24818 927786 SH SOLE 726966 0 200820 MASSEY ENERGY CO NOTE 576203AJ2 2674 3060000 PRN SOLE 2810000 0 250000 MCCORMICK & CO. COM NON VTG 579780206 6518 180408 SH SOLE 113858 0 66550 MEADWESTVACO CORP. COM 583334107 14764 515682 SH SOLE 321247 0 194435 NORTHWESTERN CORP COM NEW 668074305 22746 874170 SH SOLE 687630 0 186540 NV ENERGY INC COM 67073Y106 10439 843215 SH SOLE 531295 0 311920 OMEGA HEALTHCARE INVS INC COM 681936100 37786 1942722 SH SOLE 1418676 0 524046 OMNICARE, INC. COM 681904108 8081 334191 SH SOLE 207806 0 126385 ONEOK INC NEW COM 682680103 40100 899706 SH SOLE 668772 0 230934 OWENS ILLINOIS INC NEW COM NEW 690768403 33932 1032323 SH SOLE 753591 0 278732 PENN VIRGINIA COM 707882106 14283 670855 SH SOLE 525583 0 145272 PERRIGO CO. COM 714290103 9968 250272 SH SOLE 154137 0 96135 PIONEER NATURAL RESOURCE NOTE 723787AH0 2695 2510000 PRN SOLE 2510000 0 0 PPG INDUSTRIES COM 693506107 3363 57449 SH SOLE 34759 0 22690 SAFEWAY INC. COM NEW 786514208 5170 242818 SH SOLE 149703 0 93115 SBA COMMUNICATIONS COM 78388J106 6869 201076 SH SOLE 124506 0 76570 SENSIENT TECHNOLOGIES COM 81725T100 18539 704920 SH SOLE 552566 0 152354 SLM CORPORATION COM 78442P106 38633 3427913 SH SOLE 2506856 0 921057 SOUTHERN UNION CO. COM 844030106 16164 712054 SH SOLE 559865 0 152189 STEWART ENTERPRISES INC CL A CLA 860370105 20492 3978938 SH SOLE 3124544 0 854394 TETRA TECH, INC. COM 88162G103 15008 552357 SH SOLE 434019 0 118338 THOMAS & BETTS CORP. COM 884315102 11877 331855 SH SOLE 205520 0 126335 TIDEWATER INC COM 886423102 22298 465025 SH SOLE 342828 0 122197 TRANSOCEAN INC NOTE 893830AW9 2719 2825000 PRN SOLE 2825000 0 0 TRINITY INDUSTRIES INC NOTE 896522AF6 3184 4260000 PRN SOLE 4260000 0 0 VECTREN CORP COM 92240G101 25756 1043600 SH SOLE 774117 0 269483 VERISK ANALYTICS COM 92345Y106 4628 152835 SH SOLE 95630 0 57205 WENDY'S/ARBY'S GROUP COM 950587105 5919 1262046 SH SOLE 773116 0 488930 WEYERHAEUSER CO COM 962166104 8185 189734 SH SOLE 117574 0 72160 WILLIAMS COS, INC. COM 969457100 9403 446061 SH SOLE 249386 0 196675