clay49814-nq.htm
UNITED STATES
 SECURITIES AND EXCHANGE COMMISSION
Washington, DC  20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number
     811-21504
 
Advent/Claymore Enhanced Growth & Income Fund
(Exact name of registrant as specified in charter)

1065 Avenue of the Americas, New York, NY 10018
(Address of principal executive offices)
(Zip code)
 
Robert White, Treasurer
1271 Avenue of the Americas, 45th Floor
New York, NY 10020
(Name and address of agent for service)

Registrant’s telephone number, including area code:  (212) 479-1600
Date of fiscal year end: October 31                                                                

Date of reporting period: July 31, 2010                                                                

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5).  The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public.  A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number.  Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609.  The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.


 
 
 

Item 1.    Schedule of Investments.
Attached hereto.
 
 
LCM | Advent/Claymore Enhanced Growth & Income Fund
      
Portfolio of Investments
      
July 31, 2010 (unaudited)
      
           
Principal Amount
        
 Value
           
   
Total Investments — 126.9%
      
   
Convertible Bonds — 54.9%
      
   
Agriculture - 1.4%
      
 CNY                     15,000,000
  
China Green Holdings Ltd., Ser. CGHL, NR
      
   
0.00%, 10/29/10 (Bermuda) (c )
    
 $                  2,270,480
           
   
Airlines - 0.7%
      
 $                             1,000,000
  
UAL Corp., CCC
      
   
4.50%, 6/30/21 (a)
    
                     1,015,000
           
   
Apparel - 1.3%
      
 HK$                     13,000,000
  
Yue Yuen Industrial Holdings Ltd., NR
      
   
0.00%, 11/17/11 (Bermuda)
    
                     1,973,290
           
   
Auto Manufacturers - 1.3%
      
 $                                900,000
  
Ford Motor Co., B
      
   
4.25%, 11/15/16 (a)
    
                     1,369,125
 $                                600,000
  
Navistar International Corp., B
      
   
3.00%, 10/15/14 (a)
    
                        736,500
         
                     2,105,625
   
Beverages - 0.4%
      
 $                                725,000
  
Central European Distribution Corp., B-
      
   
3.00%, 3/15/13 (a)
    
                        638,906
           
   
Biotechnology - 4.1%
      
 $                             2,500,000
  
Amylin Pharmaceuticals, Inc., NR
      
   
3.00%, 6/15/14 (a)
    
                     2,165,625
 $                             1,500,000
  
Gilead Sciences, Inc., NR
      
   
0.625%, 5/1/13
    
                     1,605,000
 $                                450,000
  
Human Genome Sciences, Inc., NR
      
   
2.25%, 10/15/11
    
                        803,250
 $                             1,850,000
  
Life Technologies Corp., BBB-
      
   
3.25%, 6/15/25  (a)
    
                     1,970,250
         
                     6,544,125
   
Building Materials - 1.3%
      
 $                             1,996,000
  
Cemex SAB de CV, NR
      
   
4.875%, 3/15/15 (Mexico) (a)(e)
    
                     1,986,020
           
   
Chemicals - 0.5%
      
 HK$                       4,450,000
  
Sinofert Holdings Ltd., NR
      
   
0.00%, 8/7/11 (Bermuda)
    
                        714,886
           
   
Coal - 1.8%
      
 $                             1,850,000
  
Alpha Natural Resources, Inc., BB
      
   
2.375%, 4/15/15 (a)
    
                     1,961,000
 $                                800,000
  
Peabody Energy Corp., B+
      
   
4.75%, 12/15/41 (a)
    
                        850,000
         
                     2,811,000
   
Commercial Services - 0.7%
      
 $                             1,100,000
  
Avis Budget Group, Inc., NR
      
   
3.50%, 10/1/14 (a)(e)
    
                     1,135,750
           
   
Computers - 2.2%
      
 $                             2,000,000
  
EMC Corp., A-
      
   
1.75%, 12/1/11 (a)
    
                     2,580,000
 $                                700,000
  
EMC Corp., A-
      
   
1.75%, 12/1/13 (a)
    
                        943,250
         
                     3,523,250
   
Diversified Financial Services - 0.7%
      
 £                                700,000
  
Aberdeen Asset Management PLC, Ser. ADN, NR
      
   
3.50%, 12/17/14 (United Kingdom)
    
                     1,113,015
           
   
Electrical Components & Equipment - 1.7%
      
 CNY                     15,900,000
  
China High Speed Transmission Equipment Group Co., Ltd., Ser. CHIS, NR
      
   
0.00%, 5/14/11 (Cayman Islands) (c )
    
                     2,730,083
           
   
Engineering & Construction - 1.1%
      
 $                             1,400,000
  
Jaiprakash Associates Ltd., NR
      
   
0.00%, 9/12/12 (India)
    
                     1,778,000
           
   
Entertainment - 1.0%
      
 $                             1,450,000
  
International Game Technology, BBB
      
   
3.25%, 5/1/14
    
                     1,598,625
           
   
Food - 0.6%
      
 $                             1,000,000
  
Smithfield Foods, Inc., B-
      
   
4.00%, 6/30/13 (a)
    
                        966,250
           
   
Forest Products & Paper - 1.3%
      
 $                             2,225,000
  
Sino-Forest Corp., BB
      
   
4.25%, 12/15/16 (Canada) (e)
    
                     2,105,406
           
   
Healthcare - Products - 3.5%
      
 $                             2,100,000
  
Beckman Coulter, Inc., BBB
      
   
2.50%, 12/15/36
    
                     2,139,375
 $                             1,950,000
  
Hologic, Inc., BB-
      
   
2.00%, 12/15/37 (a)(f)
    
                     1,718,438
 $                             1,647,000
  
NuVasive, Inc., NR
      
   
2.25%, 3/15/13
    
                     1,684,058
         
                     5,541,871
   
Holdings Companies - Diversified - 1.3%
      
 €                             1,350,000
  
Industrivarden AB, Ser. INDU, A
      
   
2.50%, 2/27/15 (Sweden)
    
                     1,972,893
           
   
Insurance - 0.6%
      
 $                                925,000
  
MGIC Investment Corp., CCC+
      
   
5.00%, 5/1/17 (a)
    
                        949,282
           
   
Iron/Steel - 0.8%
      
 $                             1,000,000
  
ArcelorMittal, BBB
      
   
5.00%, 5/15/14 (Luxembourg) (a)
    
                     1,275,000
           
   
Lodging - 1.3%
      
 HK$                       7,100,000
  
Champion Path Holdings Ltd., NR
      
   
0.00%, 10/28/15 (Hong Kong)
    
                     1,172,492
 $                             1,011,000
  
MGM Resorts International, CCC+
      
   
4.25%, 4/15/15 (a)(e)
    
                        899,790
         
                     2,072,282
   
Media - 0.7%
      
 $                             1,050,000
  
XM Satellite Radio, Inc., CCC+
      
   
7.00%, 12/1/14 (e)
    
                     1,030,313
           
   
Mining - 4.1%
      
 $                                400,000
  
Enercoal Resources Pte. Ltd., NR
      
   
9.25%, 8/5/14 (Indonesia)
    
                        363,483
 $                             1,325,000
  
Goldcorp, Inc., BBB+
      
   
2.00%, 8/1/14 (Canada)
    
                     1,505,531
 $                             1,000,000
  
Jaguar Mining, Inc., NR
      
   
4.50%, 11/1/14 (Canada) (e)
    
                        937,500
 $                             1,000,000
  
Newmont Mining Corp., BBB+
      
   
1.25%, 7/15/14  (a)
    
                     1,332,500
 $                             2,200,000
  
Vedanta Resources Jersey II Ltd., BB
      
   
4.00%, 3/30/17 (United Kingdom)
    
                     2,288,000
         
                     6,427,014
   
Miscellaneous Manufacturing - 1.7%
      
 $                             1,100,000
  
Textron, Inc., Ser. TXT, BBB-
      
   
4.50%, 5/1/13 (a)
    
                     1,887,875
 $                             1,025,000
  
Trinity Industries, Inc., BB-
      
   
3.875%, 6/1/36 (a)
    
                        841,781
         
                     2,729,656
   
Oil and Gas - 5.6%
      
 $                             1,881,000
  
Carrizo Oil & Gas, Inc., NR
      
   
4.375%, 6/1/28 (a)
    
                     1,638,821
 $                             1,150,000
  
Chesapeake Energy Corp., BB
      
   
2.25%, 12/15/38 (a)
    
                        858,187
 $                             1,700,000
  
Goodrich Petroleum Corp., NR
      
   
5.00%, 10/1/29
    
                     1,440,750
 $                             2,300,000
  
PetroBakken Energy Ltd.,  Ser. REGS, NR
      
   
3.125%, 2/8/16 (Canada)
    
                     2,192,374
 $                             1,300,000
  
Seadrill Ltd., NR
      
   
3.625%, 11/8/12 (Bermuda)
    
                     1,313,566
 $                             1,480,000
  
Transocean, Inc., Ser. B, BBB+
      
   
1.50%, 12/15/37 (Cayman Islands) (a)
    
                     1,361,600
         
                     8,805,298
   
Oil and Gas Services - 0.4%
      
 $                                550,000
  
Cameron International Corp., BBB+
      
   
2.50%, 6/15/26 (a)
    
                        684,750
           
   
Packaging & Containers - 0.9%
      
 $                             1,420,000
  
Owens-Brockway Glass Container, Inc., BB+
      
   
3.00%, 6/1/15 (e)
    
                     1,350,775
           
   
Pharmaceuticals - 5.1%
      
 CHF                       1,265,000
  
Actelion Finance SCA, NR
      
   
0.00%, 11/22/11 (Switzerland)
    
                     1,190,975
 $                             1,350,000
  
Allergan, Inc., A+
      
   
1.50%, 4/1/26
    
                     1,513,687
 $                             2,750,000
  
Cephalon, Inc., NR
      
   
2.50%, 5/1/14 (a)
    
                     2,939,062
 $                                800,000
  
Mylan, Inc., BB-
      
   
1.25%, 3/15/12
    
                        808,000
 $                             1,400,000
  
Teva Pharmaceutical Finance Co. LLC, Ser. C, A-
      
   
0.25%, 2/1/26 (Israel) (a)
    
                     1,615,250
         
                     8,066,974
   
Real Estate - 0.6%
      
 $                                857,000
  
Forest City Enterprises, Inc., B-
      
   
5.00%, 10/15/16 (e)
    
                        985,550
           
   
Retail - 0.8%
      
 $                             1,250,000
  
Sonic Automotive, Inc., B-
      
   
5.00%, 10/1/29 (a)
    
                     1,321,875
           
   
Semiconductors - 1.9%
      
 $                                750,000
  
Intel Corp., A-
      
   
3.25%, 8/1/39 (a)(e)
    
                        888,750
 $                             1,500,000
  
ON Semiconductor Corp., B+
      
   
2.625%, 12/15/26 (a)
    
                     1,466,250
 $                                700,000
  
Verigy Ltd., NR
      
   
5.25%, 7/15/14 (Singapore)
    
                        696,010
         
                     3,051,010
   
Telecommunications - 3.1%
      
 $                             1,000,000
  
Arris Group, Inc., NR
      
   
2.00%, 11/15/26 (a)
    
                        957,500
 £                             1,500,000
  
Cable & Wireless Worldwide PLC, NR
      
   
5.75%, 11/24/14 (United Kingdom)
    
                     2,431,370
 $                             1,500,000
  
CommScope, Inc., B
      
   
3.25%, 7/1/15 (a)
    
                     1,513,125
         
                     4,901,995
   
Utility - 0.4%
      
 €                                450,000
  
International Power Finance Jersey II Ltd., BB
      
   
3.25%, 7/20/13 (United Kingdom)
    
                        632,867
           
   
Total Convertible Bonds - 54.9%
      
   
(Cost $84,222,429)
    
                   86,809,116
           
             
Number of Shares
        
Value
           
   
Convertible Preferred Stocks - 24.3%
      
   
Auto Manufacturers - 1.6%
      
                                     55,400
  
Ford Motor Co. Capital Trust II, 6.50%, 2032 (a)
    
                     2,578,316
           
   
Banks - 7.2%
      
                                       1,650
  
Bank of America Corp., Ser. L, 7.25%, 2049 (a)
    
                     1,518,000
                                     26,070
  
Citigroup, Inc., 7.50%, 2012
    
                     3,172,719
                                     15,626
  
KeyCorp, Ser. A, 7.75%, 2049 (a)
    
                     1,586,039
                                     64,950
  
Synovus Financial Corp., Ser. tMED, 8.25%, 2013
    
                     1,645,184
                                       3,565
  
Wells Fargo & Co., Ser. L, 7.50%, 2049 (a)
    
                     3,475,875
         
                   11,397,817
   
Diversified Financial Services - 0.6%
      
                                     25,000
  
Omnicare Capital Trust II, Ser. B, 4.00%, 2033 (a)
    
                        922,250
           
   
Electric - 3.6%
      
                                     31,050
  
Great Plains Energy, Inc., 12.00%, 2012
    
                     1,901,347
                                     66,179
  
PPL Corp., 9.50%, 2013 (a)
    
                     3,692,126
         
                     5,593,473
   
Food Products -  0.7%
      
                                   105,600
  
2009 Dole Food Automatic Common Exchange Security Trust, 7.00%, 2012 (a)(e)
    
                     1,155,000
           
   
Insurance - 3.6%
      
                                   120,249
  
Hartford Financial Services Group, Inc., 7.25%, 2013 (a)
    
                     2,946,100
                                   103,775
  
XL Group PLC., 10.75%, 2011 (Ireland) (a)
    
                     2,750,038
         
                     5,696,138
   
Oil & Gas - 3.5%
      
                                     75,589
  
Apache Corp., Ser. D, 6.00%, 2013
    
                     4,106,750
                                       6,888
  
Whiting Petroleum Corp., 6.25%, 2049 (a)
    
                     1,474,032
         
                     5,580,782
   
Pharmaceuticals - 0.8%
      
                                       1,100
  
Mylan, Inc., 6.50%, 2010
    
                     1,165,725
           
   
Real Estate - 0.5%
      
                                     14,996
  
Forest City Enterprises, Inc., Ser. A, 7.00%, 2049
    
                        760,110
           
   
Telecommunications - 2.2%
      
                                       4,617
  
Lucent Technologies Capital Trust I, 7.75%, 2017 (France)
    
                     3,508,920
           
   
Total Convertible Preferred Stocks - 24.3%
      
   
(Cost $34,785,470)
    
                   38,358,531
           
Principal Amount
        
 Value
           
   
Corporate Bonds - 20.9%
      
   
Beverage - 1.3%
      
 $                             2,000,000
  
Constellation Brands, Inc., BB
      
   
7.25%, 9/1/16
    
                     2,085,000
           
   
Chemicals - 1.3%
      
 $                             2,000,000
  
LBI Escrow Corp., BB
      
   
8.00%, 11/1/17 (e)
    
                     2,102,500
           
   
Diversified Financial Services - 1.9%
      
 $                             1,350,000
  
Capital One Capital V, BB
      
   
10.25%, 8/15/39
    
                     1,461,375
 $                             1,500,000
  
CIT Group Funding Co. of Delaware LLC, B+
      
   
10.25%, 5/1/14
    
                     1,552,500
         
                     3,013,875
   
Electric - 1.3%
      
 $                             2,000,000
  
NRG Energy, Inc., BB-
      
   
7.25%, 2/1/14
    
                     2,050,000
           
   
Food - 1.3%
      
 $                             1,000,000
  
Smithfield Foods, Inc., B-
      
   
7.00%, 8/1/11
    
                     1,017,500
 $                             1,000,000
  
Smithfield Foods, Inc., B+
      
   
10.00%, 7/15/14, Senior Secured Notes (e)
    
                     1,117,500
         
                     2,135,000
   
Healthcare-Products - 1.1%
      
 $                             1,500,000
  
Biomet, Inc., B-
      
   
10.00%, 10/15/17
    
                     1,661,250
           
   
Healthcare - Services - 2.0%
      
 $                             2,500,000
  
Apria Healthcare Group, Inc., BB+
      
   
11.25%, 11/1/14 (e)
    
                     2,675,000
 $                                500,000
  
HCA, Inc., BB-
      
   
9.25%, 11/15/16
    
                        540,000
         
                     3,215,000
   
Insurance - 1.8%
      
 $                             1,000,000
  
AXA SA, BBB
      
   
6.379%, 12/14/36 (France) (d)(e)
    
                        795,000
 $                             1,000,000
  
Liberty Mutual Group, Inc., BB
      
   
10.75%, 6/15/58 (d)(e)
    
                     1,095,000
 $                                800,000
  
Metlife, Inc., BBB
      
   
10.75%, 8/1/39
    
                        988,132
         
                     2,878,132
   
Machinery-Diversified - 1.7%
      
 $                             2,500,000
  
Case New Holland, Inc., BB+
      
   
7.75%, 9/1/13
    
                     2,631,250
           
   
Media - 3.0%
      
 $                             3,000,000
  
Clear Channel Worldwide Holdings, Inc., B
      
   
9.25%, 12/15/17 (e)
    
                     3,150,000
 $                                500,000
  
Univision Communications, Inc., B-
      
   
12.00%, 7/1/14 (e)
    
                        548,750
 $                             1,000,000
  
UPC Holding BV, B-
      
   
9.875%, 4/15/18 (Netherlands) (e)
    
                     1,045,000
         
                     4,743,750
   
Pharmaceuticals - 1.1%
      
 $                             1,665,000
  
Axcan Intermediate Holdings, Inc., B
      
   
12.75%, 3/1/16
    
                     1,694,138
           
   
Retail - 1.6%
      
 $                             2,450,000
  
Toys R Us Property Co. LLC, B+
      
   
8.50%, 12/1/17 (e)
    
                     2,578,625
           
   
Telecommunications - 1.5%
      
 $                             1,873,000
  
iPCS, Inc., BB-
      
   
2.59063%, 5/1/13 (d)
 
  
                     1,774,668
 $                                500,000
  
NII Capital Corp., BB-
 
    
   
10.00%, 8/15/16
    
                        552,500
         
                     2,327,168
   
Total Corporate Bonds - 20.9%
      
   
(Cost $31,672,679)
    
                   33,115,688
           
Number of Shares
        
Value
           
   
Common Stocks — 15.1%
      
   
Agriculture - 1.0%
      
21,000
  
Lorillard, Inc. (a)
    
                     1,601,040
           
   
Auto Manufacturers - 0.1%
      
                                     10,000
  
Ford Motor Co. (a)(b)
    
                        127,700
           
   
Banks - 0.4%
      
                                       5,000
  
Bank of America Corp. (a)
    
                          70,200
                                     20,000
  
Sumitomo Mitsui Financial Group, Inc. (Japan)
    
                        617,586
         
                        687,786
   
Beverages - 0.0%
      
                                       1,000
  
Central European Distribution Corp. (a)(b)
    
                          26,070
           
   
Biotechnology - 0.1%
      
                                       5,000
  
Amylin Pharmaceuticals, Inc. (a)(b)
    
                          94,600
           
   
Coal - 0.0%
      
1,600
  
Alpha Natural Resources, Inc. (a)(b)
    
                          61,328
           
   
Computers - 2.0%
      
8,000
  
Apple, Inc. (a)(b)
    
                     2,058,000
54,000
  
EMC Corp. (a)(b)
    
                     1,068,660
         
                     3,126,660
   
Electrical Components & Equipment - 0.1%
      
77,000
  
China High Speed Transmission Equipment Co. Ltd. (Cayman Islands)
    
                        176,104
           
   
Engineering & Construction - 0.1%
      
5,000
  
Fluor Corp. (a)
    
                        241,450
           
   
Entertainment - 0.0%
      
1,000
  
International Game Technology
    
                          15,240
           
   
Healthcare-Products - 0.5%
      
26,573
  
NuVasive, Inc. (b)
    
                        870,797
           
   
Insurance - 0.0%
      
7,500
  
MGIC Investment Corp. (a)(b)
    
                          64,425
           
   
Iron/Steel - 0.1%
      
2,700
  
ArcelorMittal (Luxembourg) (a)
    
                          82,890
           
   
Lodging - 0.2%
      
381,679
  
SJM Holdings Ltd. (Hong Kong)
    
                        336,686
           
   
Mining - 0.7%
      
2,500
  
Freeport-McMoRan Copper & Gold, Inc. (a)
    
                        178,850
1,000
  
Goldcorp, Inc. (Canada)
    
                          39,140
2,500
  
Newmont Mining Corp. (a)
    
                        139,750
45,000
  
Xstrata PLC (United Kingdom)
    
                        715,668
         
                     1,073,408
   
Miscellaneous Manufacturing - 2.7%
      
102,500
  
General Electric Co. (a)
    
                     1,652,300
54,100
  
Honeywell International, Inc. (a)
    
                     2,318,726
9,500
  
Textron, Inc. (a)
    
                        197,220
2,000
  
Trinity Industries, Inc. (a)
    
                          40,740
         
                     4,208,986
   
Oil & Gas - 1.5%
      
                                       5,000
  
Chesapeake Energy Corp. (a)
    
                        105,150
                                     10,000
  
Exxon Mobil Corp. (a)
    
                        596,800
                                     25,900
  
PetroBakken Energy Ltd. (Canada)
    
                        567,062
                                     65,000
  
Valero Energy Corp. (a)
    
                     1,104,350
         
                     2,373,362
   
Pharmaceuticals - 0.2%
      
                                       1,000
  
Cephalon, Inc. (a)(b)
    
                          56,750
                                       5,200
  
Teva Pharmaceutical Industries Ltd., ADR (Israel) (a)
    
                        254,020
         
                        310,770
   
Real Estate - 0.1%
      
                                     15,252
  
Forest City Enterprises, Inc.  (b)
    
                        193,700
           
   
Retail - 1.1%
      
                                     79,371
  
RadioShack Corp. (a)
    
                     1,709,651
           
   
Semiconductors - 1.1%
      
                                     73,150
  
Intel Corp. (a)
    
                     1,506,890
                                     30,000
  
ON Semiconductor Corp. (a)(b)
    
                        202,500
         
                     1,709,390
   
Software - 1.3%
      
                                     77,000
  
Microsoft Corp. (a)
    
                     1,987,370
           
   
Telecommunications - 1.8%
      
                                       5,000
  
CommScope, Inc. (a)(b)
    
                        101,700
                                     11,761
  
Frontier Communications Corp.
    
                          89,854
                                     30,500
  
QUALCOMM, Inc. (a)
    
                     1,161,440
                                     49,000
  
Verizon Communications, Inc. (a)
    
                     1,423,940
         
                     2,776,934
   
Total Common Stocks - 15.1%
      
   
(Cost $23,623,498)
    
                   23,856,347
           
   
Exchange-Traded Funds - 5.0%
      
                                   132,000
  
Financial Select Sector SPDR Fund (a)
    
                     1,941,720
                                     64,300
  
Industrial Select Sector SPDR Fund (a)
    
                     1,947,647
                                     70,349
  
iPATH S&P 500 VIX Short-Term Futures ETN (a)(b)
    
                     1,587,777
                                       7,000
  
PowerShares DB US Dollar Index Bullish Fund (a)(b)
    
                        166,180
                                     15,000
  
ProShares UltraShort Basic Materials (a)(b)
    
                        523,800
                                     47,100
  
ProShares UltraShort FTSE/Xinhua China 25 (a)(b)
    
                     1,685,709
   
(Cost $8,403,851)
    
                     7,852,833
           
   
Preferred Stock - 3.5%
      
   
Banks - 1.0%
      
2,000
  
Ally Financial, 7.00%, (e)
    
1,642,563
           
   
Diversified Financial Services - 2.5%
      
75,000
  
Citigroup Capital XII, 8.50% (d)
    
1,961,250
80,000
  
JPMorgan Chase Capital XXIX, 6.70% (a)
    
1,976,000
         
3,937,250
   
Total Preferred Stock - 3.5%
      
   
(Cost $5,654,000)
    
                     5,579,813
           
   
Warrants - 3.2%
      
                                   651,290
  
Bank of America Corp. (a)
    
                     1,797,560
                                     55,000
  
Ford Motor Co. (a)
    
                        266,200
                                   163,659
  
JPMorgan Chase & Co. (a)
    
                     2,333,777
                                     80,000
  
Wells Fargo & Co. (a)
    
                        687,200
   
(Cost $4,617,577)
    
                     5,084,737
           
   
Total Investments - 126.9%
      
   
(Cost $192,979,504)
    
                 200,657,065
   
Other Assets in excess of Liabilities - 4.8%
    
                     7,598,686
   
Total Options Written (Premiums received $111,895) - (0.1%)
    
                        (83,545)
   
Borrowings - (31.6%)
    
                 (50,000,000)
   
Net Assets - 100.0%
    
 $              158,172,206
           
           
           
AB - Stock Company
          
ADR - American Depositary Receipt
      
BV - Limited Liability Company
        
LLC - Limited Liability Corp.
          
PLC - Public Limited Company
        
Pte. Ltd. - Private Limited
          
SA - Corporation
          
SAB de CV - Publicly Traded Company
      
SCA - Limited Partnership
          
           
(a)  All or a portion of this security position represents cover (directly or through conversion rights) for outstanding
    
        options written.
          
(b)  Non-income producing security.
      
(c)  The reference entity is denominated in Chinese Yuan, but traded in U.S. dollars.
      
(d)  Variable rate or floating rate security.  The rate shown is as of July 31, 2010.
      
(e)   Securities are exempt from registration under Rule 144A of the Securities Act of 1933.  These
      
       securities may be resold in transactions exempt from registration, normally to qualified institutional
      
       buyers.  At July 31, 2010, these securities amounted to 18.5% of net assets.
      
(f)   Security becomes a 0% coupon, accreting bond after December 15, 2013 with a 2.0% principal accretion rate.
    
           
 Ratings shown are per Standard & Poor's.  Securities classified as NR are not rated by Standard & Poors.
      
           
   
Country Breakdown*
      
   
United States
76.8%
    
   
Canada
3.7%
    
   
United Kingdom
3.6%
    
   
Bermuda
3.1%
    
   
France
2.1%
    
   
Cayman Islands
2.1%
    
   
Ireland
1.4%
    
   
Mexico
1.0%
    
   
Sweden
1.0%
    
   
Israel
0.9%
    
   
India
0.9%
    
   
Hong Kong
0.8%
    
   
Luxembourg
0.7%
    
   
Switzerland
0.6%
    
   
Netherlands
0.5%
    
   
Singapore
0.3%
    
   
Japan
0.3%
    
   
Indonesia
0.2%
    
 
*
As a percentage of total investments.  Subject to change daily.
 
    
           
 See previously submitted notes to financial statements for the period ended April 30, 2010.
      
 
 
 
 
 
 
 
 Advent/Claymore Enhanced Growth & Income Fund
      
           
           
 Contracts
          
 (100 shares
    
Expiration
 Exercise
Market
 per contract)
  
Call Options Written(a)
Month
 Price
Value
           
                      10
  
2009 Dole Food Automatic Common Exchange Security Trust
August 2010
 $               12.50
 $                             75
                      15
  
Alpha Natural Resources, Inc.
August 2010
40.00
                           1,575
                      50
  
Amylin Pharmaceuticals, Inc.
September 2010
22.00
                           1,800
                      20
  
Apple, Inc.
August 2010
280.00
                           1,300
                      25
  
ArcelorMittal
September 2010
36.00
                              800
                      10
  
Arris Group, Inc.
August 2010
12.50
                                50
                      25
  
Avis Budget Group, Inc.
September 2010
12.00
                           2,875
                      50
  
Bank of America Corp.
September 2010
16.00
                              600
                      20
  
Cameron International Corp.
August 2010
40.00
                           2,500
                      10
  
Carrizo Oil & Gas, Inc.
September 2010
22.50
                              400
                      50
  
Cemex SAB de CV
August 2010
11.00
                              250
                      10
  
Central European Distribution Corp.
August 2010
25.00
                           1,900
                      10
  
Cephalon, Inc.
August 2010
65.00
                              290
                      50
  
Chesapeake Energy Corp.
September 2010
24.00
                              950
                      25
  
CommScope, Inc.
August 2010
30.00
                              250
                    100
  
EMC Corp.
August 2010
20.00
                           3,300
                      25
  
Exxon Mobil Corp.
August 2010
65.00
                              150
                    100
  
Financial Select Sector SPDR Fund
September 2010
16.00
                           1,500
                      50
  
Fluor Corp.
August 2010
50.00
                           3,500
                      20
  
Ford Motor Co.
August 2010
13.00
                              680
                      20
  
Freeport-McMoRan Copper & Gold, Inc.
August 2010
75.00
                           2,480
                      10
  
General Electric Co.
August 2010
20.00
                              100
                      10
  
Hartford Financial Services Group, Inc.
August 2010
28.00
                                30
                      10
  
Hologic, Inc.
September 2010
17.50
                              125
                    100
  
Honeywell International, Inc.
September 2010
46.00
                           3,700
                    100
  
Industrial Select Sector SPDR Fund
September 2010
31.00
                           7,500
                      25
  
Intel Corp.
August 2010
23.00
                                75
                    100
  
iPATH S&P 500 VIX Short-Term Futures ETN
August 2010
30.00
                           2,500
                      25
  
JPMorgan Chase & Co.
August 2010
42.00
                              750
                      40
  
KeyCorp
September 2010
9.00
                           1,000
                      20
  
Life Technologies Corp.
September 2010
50.00
                              300
                      50
  
Lorillard, Inc.
September 2010
80.00
                           2,000
                    100
  
MGIC Investment Corp.
August 2010
10.00
                           1,000
                      20
  
MGM Resorts International
August 2010
12.00
                              580
                      50
  
Microsoft Corp.
August 2010
28.00
                              200
                      15
  
Navistar International Corp.
September 2010
55.00
                           2,625
                      10
  
Newmont Mining Corp.
August 2010
65.00
                                50
                      14
  
Omnicare Capital Trust II
August 2010
27.50
                              210
                    100
  
ON Semiconductor Corp.
August 2010
8.00
                              750
                      20
  
Peabody Energy Corp.
September 2010
48.00
                           2,560
                      50
  
PowerShares DB US Dollar Index Bullish Fund
August 2010
26.00
                              100
                      25
  
PPL Corp.
August 2010
27.50
                           1,000
                      25
  
ProShares UltraShort Basic Materials
August 2010
42.00
                           1,750
                      75
  
ProShares UltraShort FTSE/Xinhua China 25
August 2010
50.00
                              375
                      50
  
QUALCOMM, Inc.
August 2010
37.00
                           8,500
                      50
  
RadioShack Corp.
August 2010
24.00
                           1,250
                      10
  
Smithfield Foods, Inc.
August 2010
16.00
                              150
                      20
  
Sonic Automotive, Inc.
August 2010
10.00
                           1,000
                      25
  
Teva Pharmaceutical Industries Ltd.
September 2010
55.00
                              750
                      50
  
Textron, Inc.
August 2010
20.00
                           6,000
                      25
  
Transocean, Inc.
August 2010
52.50
                           1,550
                      10
  
Trinity Industries, Inc.
August 2010
25.00
                              100
                      25
  
UAL Corp.
August 2010
24.00
                           2,425
                    100
  
Valero Energy Corp.
August 2010
20.00
                              300
                      50
  
Verizon Communications, Inc.
September 2010
30.00
                           1,500
                      10
  
Wells Fargo & Co.
August 2010
31.00
                                40
                      15
  
Whiting Petroleum Corp.
August 2010
90.00
                           2,850
                      25
  
XL Group PLC
September 2010
20.00
                              625
           
   
Total Options Written
      
   
(Premiums received $111,895)
    
 $                      83,545
           
 (a) Non-income producing security.
      
 
 
 
 
 
 
 
 
At July 31, 2010, the cost and related gross unrealized appreciation and depreciation on investments for
tax purposes are as follows:
 
                
Cost of Investments
for Tax Purposes
  
Gross Tax Unrealized
Appreciation
 
  Gross Tax Unrealized
Depreciation
 
Net Tax Unrealized Appreciation on
Investments
 $                                193,993,051
  
 $     12,211,952
  
 $  (5,547,938)
  
 $    6,664,014
                 
                 
GAAP requires disclosure of fair valuation measurements as of each measurement date.  In compliance
with GAAP, the Fund follows a fair value hierarchy that distinguishes between market data obtained from
independent sources (observable inputs) and the Fund's own market assumptions (unobservable inputs).
These inputs are used in determining the value of the Fund's investments and summarized in the following
fair value hierarchy:
                
 
                
Level 1 - quoted prices in active markets for identical securities.
          
 
                
Level 2 - quoted prices in inactive markets or other significant observable inputs (e.g. quoted prices for
  
similar securities; interest rates; prepayment speed; credit risk; yield curves)
        
 
                
Level 3 - significant unobservable inputs (e.g. discounted cash flow analysis; non-market based methods used
to determine fair value)
                
                 
Observable inputs are those based upon market data obtained from independent sources, and unobservable
inputs reflect the fund's own assumptions based on the best information available.  The various input levels
are not an indication of the risk associated with investing in those securities.
        
                 
The following table represents the Fund's investments carried on the Statement of Assets and Liabilities by
caption and by level within the fair value hierarchy as of July 31,2010:
        
                 
    Quoted Prices in
Active Markets
for Identical
Assets
 
 Significant
Other
Observable
inputs
 
Significant
Unobservable
Inputs
 
(Value in $000s)
  
(Level 1)
  
(Level 2)
  
(Level 3)
  
Total
 
                
Description
                
                 
Assets:
                
Convertible Bonds
  
 $                  -
  
 $        86,809
  
 $               -
  
 $                   86,809
Convertible Preferred Stocks:
                
     Auto Manufacturers
  
                2,578
  
                 -
  
                  -
  
                        2,578
     Banks
  
              11,398
  
                 -
  
                  -
  
                      11,398
     Diversified Financial Services
  
                   922
  
                 -
  
                  -
  
                           922
     Electric
  
                5,593
  
                 -
  
                  -
  
                        5,593
     Food Products
  
                     -
  
            1,155
  
                  -
  
                        1,155
     Insurance
  
                5,696
  
                 -
  
                  -
  
                        5,696
     Oil & Gas
  
                5,581
  
                 -
  
                  -
  
                        5,581
     Pharmaceuticals
  
                1,166
  
                 -
  
                  -
  
                        1,166
     Real Estate
  
                     -
  
               760
  
                  -
  
                           760
     Telecommunications
  
                     -
  
            3,509
  
                  -
  
                        3,509
Common Stocks
  
              23,856
  
                 -
  
                  -
  
                      23,856
Corporate Bonds
  
                     -
  
          33,116
      
                      33,116
Exchange Traded Funds
  
                7,853
  
                 -
  
                  -
  
                        7,853
Preferred Stock:
                
      Banks
  
                     -
  
            1,643
  
                  -
  
                        1,643
      Diversified Financial Services
  
                3,937
  
                 -
  
                  -
  
                        3,937
Warrants
  
                5,085
  
                 -
  
                  -
  
                        5,085
Foreign Exchange Currency Contracts
  
                     -
  
                 10
  
                  -
  
                            10
Total
  
 $            73,665
  
 $      127,002
  
 $               -
  
 $                  200,667
                 
Liabilities:
                
 Options Written
  
 $                  84
  
 $                 -
  
 $               -
  
 $                          84
Foreign Exchange Currency Contracts
  
                     -
  
               492
  
                  -
  
                           492
Total
  
 $                  84
  
 $            492
  
 $               -
  
 $                        576
 
 
 
 
 
 
 
 
Forward exchange currency contracts
          
           
       
Unrealized
  
       
Appreciation/
  
Long Contracts
  
Current Value
  
(Depreciation)
  
Euro, 800,000 expiring 9/16/10
  
 $  1,042,188
  
 $                  (3,596)
  
Japanese Yen, 180,000,000 expiring 9/16/10
  
     2,077,939
  
                     (5,877)
  
           
Total Long Contracts
      
                     (9,473)
  
           
           
       
Unrealized
  
       
Appreciation/
  
Short Contracts
  
Current Value
  
(Depreciation)
  
Euro, 2,500,000 expiring 9/16/10
  
 $ (3,256,838)
  
 $               (203,088)
  
Hong Kong Dollar, 3,990,000 expiring 8/02/10
  
      (513,818)
  
                        (139)
  
Japanese Yen, 231,000,000 expiring 9/16/10
  
    (2,666,688)
  
                 (139,336)
  
Pound Sterling, 2,660,000 expiring 9/16/10
  
    (4,164,900)
  
                   (31,507)
 * 
Swiss Franc, 1,250,000 expiring 9/16/10
  
    (1,195,350)
  
                   (98,282)
  
           
Total Short Contracts
      
                 (472,352)
  
           
           
           
Total unrealized depreciation on forward exchange currency contracts
      
 $               (481,825)
  
           
           
*Net position shown.
          
 
 
 
 
 

 
Item 2.    Controls and Procedures.

 
(a)
The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) as of a date within 90 days of the filing date of this report and have concluded, based on such evaluation, that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant on this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

 
(b)
There was no change in the registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940, as amended) that occurred during the registrant’s last fiscal quarter that has materially affected or is reasonably likely to materially affect the registrant’s internal control over financial reporting.

Item 3.     Exhibits.

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), is attached hereto.
 
 
 
 
 

SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Advent/Claymore Enhanced Growth & Income Fund

By:
  /s/ Tracy V. Maitland
     Tracy V. Maitland
     President and Chief Executive Officer

Date:
September 27, 2010

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:
  /s/ Tracy V. Maitland
Tracy V. Maitland
President and Chief Executive Officer

Date:
September 27, 2010

By:
 /s/ Robert White
Robert White
Treasurer and Chief Financial Officer

Date:
September 27, 2010