|
Investment Company Act file number
|
811-21504
|
|
Advent/Claymore Enhanced Growth & Income Fund
|
|
|
(Exact name of registrant as specified in charter)
|
|
|
1271 Avenue of the Americas, 45th Floor, New York, NY 10020
|
|
|
(Address of principal executive offices)
|
(Zip code)
|
|
Robert White
1271 Avenue of the Americas, 45th Floor
New York, NY 10020
|
|
|
(Name and address of agent for service)
|
|
|
LCM | Advent/Claymore Enhanced Growth & Income Fund
|
||||
|
Portfolio of Investments
|
||||
|
January 31, 2011 (unaudited)
|
||||
|
Principal Amount
|
Value
|
|||
|
Long-Term Investments — 122.2%
|
||||
|
Convertible Bonds — 49.2%
|
||||
|
Aerospace/Defense - 0.3%
|
||||
|
$ 500,000
|
Kaman Corp., NR
|
|||
|
3.25%, 11/15/17 (e)
|
$ 535,625
|
|||
|
Agriculture - 1.0%
|
||||
|
HK$ 11,900,000
|
Glory River Holdings Ltd., NR
|
|||
|
1.00%, 7/29/15 (Hong Kong)
|
1,672,404
|
|||
|
Apparel - 1.1%
|
||||
|
HK$ 13,000,000
|
Yue Yuen Industrial Holdings Ltd., NR
|
|||
|
0.00%, 11/17/11 (Bermuda)
|
1,943,005
|
|||
|
Auto Manufacturers - 0.7%
|
||||
|
$ 800,000
|
Navistar International Corp., B
|
|||
|
3.00%, 10/15/14 (a)(g)
|
1,165,000
|
|||
|
Biotechnology - 1.8%
|
||||
|
$ 1,900,000
|
Gilead Sciences, Inc., Ser. B, NR
|
|||
|
0.625%, 5/1/13
|
2,166,000
|
|||
|
$ 850,000
|
Life Technologies Corp., BBB
|
|||
|
3.25%, 6/15/25 (a)(g)
|
990,250
|
|||
|
3,156,250
|
||||
|
Building Materials - 1.6%
|
||||
|
$ 2,700,000
|
Cemex SAB de CV, NR
|
|||
|
4.875%, 3/15/15 (Mexico) (e)(g)
|
2,821,500
|
|||
|
Coal - 2.4%
|
||||
|
$ 2,686,000
|
Patriot Coal Corp., NR
|
|||
|
3.25%, 5/31/13 (a)
|
2,598,705
|
|||
|
$ 1,200,000
|
Peabody Energy Corp., B+
|
|||
|
4.75%, 12/15/41 (a)
|
1,521,000
|
|||
|
4,119,705
|
||||
|
Commercial Services - 0.7%
|
||||
|
$ 1,100,000
|
Avis Budget Group, Inc., NR
|
|||
|
3.50%, 10/1/14 (a)(g)
|
1,269,125
|
|||
|
Computers - 1.7%
|
||||
|
$ 615,000
|
EMC Corp., Ser. A, A-
|
|||
|
1.75%, 12/1/11 (a)(g)
|
959,400
|
|||
|
$ 356,000
|
EMC Corp., Ser. B, A-
|
|||
|
1.75%, 12/1/13 (a)(g)
|
576,720
|
|||
|
$ 1,300,000
|
SanDisk Corp., BB-
|
|||
|
1.50%, 8/15/17 (a)(g)
|
1,415,375
|
|||
|
2,951,495
|
||||
|
Diversified Financial Services - 1.5%
|
||||
|
£ 700,000
|
Aberdeen Asset Management PLC, Ser. ADN, NR
|
|||
|
3.50%, 12/17/14 (United Kingdom)
|
1,439,373
|
|||
|
$ 1,200,000
|
Petroplus Finance Ltd., B
|
|||
|
4.00%, 10/16/15 (Bermuda)
|
1,123,500
|
|||
|
2,562,873
|
||||
|
Electrical Components & Equipment - 1.0%
|
||||
|
JPY 130,000,000
|
Nidec Corp., NR
|
|||
|
0.00%, 9/18/15 (Japan)
|
1,681,930
|
|||
|
Electronics - 0.6%
|
||||
|
$ 1,000,000
|
AU Optronics Corp., NR
|
|||
|
0.00%, 10/13/15 (Taiwan)
|
1,022,000
|
|||
|
Engineering & Construction - 1.6%
|
||||
|
$ 870,000
|
Jaiprakash Associates Ltd., NR
|
|||
|
0.00%, 9/12/12 (India) (g)
|
1,122,300
|
|||
|
$ 1,400,000
|
Larsen & Toubro Ltd., NR
|
|||
|
3.50%, 10/22/14 (India)
|
1,638,000
|
|||
|
2,760,300
|
||||
|
Entertainment - 0.6%
|
||||
|
$ 950,000
|
International Game Technology, BBB
|
|||
|
3.25%, 5/1/14 (a)(g)
|
1,100,813
|
|||
|
Environmental Control - 0.7%
|
||||
|
CNY 7,500,000
|
Sound Global Ltd., NR
|
|||
|
6.00%, 9/15/15 (Singapore) (c)
|
1,295,226
|
|||
|
Forest Products & Paper - 1.3%
|
||||
|
$ 1,820,000
|
Sino-Forest Corp., BB
|
|||
|
4.25%, 12/15/16 (Canada) (e)
|
2,313,675
|
|||
|
Holdings Companies - Diversified - 1.1%
|
||||
|
€ 1,150,000
|
Industrivarden AB, Ser. INDU, A
|
|||
|
2.50%, 2/27/15 (Sweden)
|
1,909,795
|
|||
|
Home Builders - 0.7%
|
||||
|
$ 1,000,000
|
Lennar Corp., B+
|
|||
|
2.75%, 12/15/20 (a)(e)
|
1,130,000
|
|||
|
Insurance - 0.9%
|
||||
|
$ 500,000
|
American Equity Investment Life Holding Co., NR
|
|||
|
3.50%, 9/15/15 (e)
|
595,000
|
|||
|
$ 925,000
|
MGIC Investment Corp., CCC+
|
|||
|
5.00%, 5/1/17 (a)
|
994,375
|
|||
|
1,589,375
|
||||
|
Internet - 2.9%
|
||||
|
$ 1,000,000
|
Digital River, Inc., NR
|
|||
|
2.00%, 11/1/30 (a)(e)
|
967,500
|
|||
|
$ 1,500,000
|
Equinix, Inc., B-
|
|||
|
3.00%, 10/15/14 (a)(g)
|
1,576,875
|
|||
|
$ 1,330,000
|
GSI Commerce, Inc., NR
|
|||
|
2.50%, 6/1/27 (a)(g)
|
1,443,050
|
|||
|
$ 1,000,000
|
WebMD Health Corp., NR
|
|||
|
2.50%, 1/31/18 (e)
|
1,006,250
|
|||
|
4,993,675
|
||||
|
Iron/Steel - 0.8%
|
||||
|
$ 1,000,000
|
ArcelorMittal, BBB-
|
|||
|
5.00%, 5/15/14 (Luxembourg) (a)(g)
|
1,456,250
|
|||
|
Lodging - 0.7%
|
||||
|
$ 734,000
|
Home Inns & Hotels Management, Inc., NR
|
|||
|
2.00%, 12/15/15 (Cayman Islands) (e)
|
691,795
|
|||
|
$ 511,000
|
MGM Resorts International, CCC+
|
|||
|
4.25%, 4/15/15 (a)(e)
|
566,571
|
|||
|
1,258,366
|
||||
|
Media - 0.8%
|
||||
|
$ 1,050,000
|
XM Satellite Radio, Inc., BB-
|
|||
|
7.00%, 12/1/14 (a)(e)
|
1,329,563
|
|||
|
Mining - 4.1%
|
||||
|
$ 1,325,000
|
Goldcorp, Inc., BBB+
|
|||
|
2.00%, 8/1/14 (Canada) (g)
|
1,550,250
|
|||
|
$ 1,000,000
|
Newmont Mining Corp., Ser. A, BBB+
|
|||
|
1.25%, 7/15/14 (a)(g)
|
1,337,500
|
|||
|
$ 1,000,000
|
Paladin Energy Ltd., Ser. PALA, NR
|
|||
|
5.00%, 3/11/13 (Australia)
|
1,067,500
|
|||
|
$ 3,200,000
|
Vedanta Resources Jersey II Ltd., BB
|
|||
|
4.00%, 3/30/17 (United Kingdom)
|
3,268,160
|
|||
|
7,223,410
|
||||
|
Miscellaneous Manufacturing - 1.4%
|
||||
|
$ 700,000
|
Textron, Inc., Ser. TXT, BBB-
|
|||
|
4.50%, 5/1/13 (a)(g)
|
1,455,125
|
|||
|
$ 1,025,000
|
Trinity Industries, Inc., BB-
|
|||
|
3.875%, 6/1/36 (a)(g)
|
1,018,594
|
|||
|
2,473,719
|
||||
|
Oil and Gas - 4.8%
|
||||
|
$ 1,000,000
|
Chesapeake Energy Corp., BB
|
|||
|
2.75%, 11/15/35 (a)
|
1,098,750
|
|||
|
$ 2,000,000
|
Lukoil International Finance BV, BBB-
|
|||
|
2.625%, 6/16/15 (Russia)
|
2,219,000
|
|||
|
$ 1,700,000
|
PetroBakken Energy Ltd., Ser. REGS, NR
|
|||
|
3.125%, 2/8/16 (Canada) (g)
|
1,640,500
|
|||
|
$ 1,200,000
|
Petroleum Development Corp., NR
|
|||
|
3.25%, 5/15/16 (a)(e)
|
1,513,500
|
|||
|
$ 800,000
|
Petrominerales Ltd., Ser. PMG, NR
|
|||
|
2.625%, 8/25/16 (Canada)
|
1,049,000
|
|||
|
$ 700,000
|
Seadrill Ltd., NR
|
|||
|
3.625%, 11/8/12 (Bermuda)
|
856,625
|
|||
|
8,377,375
|
||||
|
Oil and Gas Services - 0.5%
|
||||
|
$ 550,000
|
Cameron International Corp., BBB+
|
|||
|
2.50%, 6/15/26 (a)(g)
|
831,188
|
|||
|
Pharmaceuticals - 3.7%
|
||||
|
CHF 895,000
|
Actelion Finance SCA, NR
|
|||
|
0.00%, 11/22/11 (Switzerland)
|
1,009,631
|
|||
|
$ 750,000
|
Allergan, Inc., A+
|
|||
|
1.50%, 4/1/26 (g)
|
855,000
|
|||
|
$ 1,750,000
|
Cephalon, Inc., NR
|
|||
|
2.50%, 5/1/14 (a)(g)
|
1,944,687
|
|||
|
$ 800,000
|
Mylan, Inc., BB-
|
|||
|
1.25%, 3/15/12 (a)
|
907,000
|
|||
|
$ 1,400,000
|
Teva Pharmaceutical Finance Co. LLC, Ser. C, A-
|
|||
|
0.25%, 2/1/26 (Israel) (a)(g)
|
1,727,250
|
|||
|
6,443,568
|
||||
|
REITS - 1.9%
|
||||
|
$ 750,000
|
Annaly Capital Management, Inc., NR
|
|||
|
4.00%, 2/15/15 (a)
|
876,562
|
|||
|
$ 1,000,000
|
Host Hotels & Resorts LP, BB+
|
|||
|
3.25%, 4/15/24 (a)(e)(g)
|
1,223,750
|
|||
|
$ 1,000,000
|
Vornado Realty LP, BBB
|
|||
|
3.875%, 4/15/25
|
1,128,750
|
|||
|
3,229,062
|
||||
|
Retail - 1.2%
|
||||
|
HKD 4,000,000
|
Hengdeli Holdings Ltd., NR
|
|||
|
2.50%, 10/20/15 (Cayman Islands)
|
592,631
|
|||
|
$ 1,250,000
|
Sonic Automotive, Inc., B-
|
|||
|
5.00%, 10/1/29 (a)(g)
|
1,507,813
|
|||
|
2,100,444
|
||||
|
Semiconductors - 1.6%
|
||||
|
$ 750,000
|
Intel Corp., A-
|
|||
|
3.25%, 8/1/39 (a)(g)
|
910,313
|
|||
|
$ 900,000
|
ON Semiconductor Corp., B+
|
|||
|
2.625%, 12/15/26 (a)(g)
|
1,131,750
|
|||
|
$ 655,000
|
Verigy Ltd., NR
|
|||
|
5.25%, 7/15/14 (Singapore)
|
801,556
|
|||
|
2,843,619
|
||||
|
Telecommunications - 2.9%
|
||||
|
$ 1,500,000
|
Arris Group, Inc., NR
|
|||
|
2.00%, 11/15/26
|
1,574,062
|
|||
|
£ 2,100,000
|
Cable & Wireless Worldwide PLC, NR
|
|||
|
5.75%, 11/24/14 (United Kingdom)
|
3,510,837
|
|||
|
5,084,899
|
||||
|
Utility - 0.6%
|
||||
|
€ 700,000
|
International Power Finance Jersey II Ltd., BB
|
|||
|
3.25%, 7/20/13 (United Kingdom)
|
1,041,274
|
|||
|
Total Convertible Bonds - 49.2%
|
||||
|
(Cost $78,612,330)
|
85,686,508
|
|||
|
Number of Shares
|
Value
|
|||
|
Convertible Preferred Stocks - 26.0%
|
||||
|
Auto Manufacturers - 3.5%
|
||||
|
40,400
|
Ford Motor Co. Capital Trust II, 6.50%, 2032 (a)(g)
|
2,112,112
|
||
|
72,550
|
General Motors Co., Ser. B, 4.75%, 2013 (a)
|
3,940,190
|
||
|
6,052,302
|
||||
|
Banks - 8.6%
|
||||
|
2,650
|
Bank of America Corp., Ser. L, 7.25% (a)(f)(g)
|
2,624,825
|
||
|
26,070
|
Citigroup, Inc., 7.50%, 2012 (a)(g)
|
3,587,753
|
||
|
15,626
|
KeyCorp, Ser. A, 7.75% (a)(f)(g)
|
1,728,236
|
||
|
87,950
|
Synovus Financial Corp., Ser. tMED, 8.25%, 2013 (a)
|
2,173,245
|
||
| 40,000 | UBS AG/Stillwater Mining Co., 9.375%, 2012 (Switzerland) (a) | 1,112,268 | ||
|
3,565
|
Wells Fargo & Co., Ser. L, 7.50% (a)(f)(g)
|
3,716,513
|
||
|
14,942,840
|
||||
|
Diversified Financial Services - 0.3%
|
||||
|
40,000
|
2010 Swift Mandatory Common Exchange Security Trust, 6.00%, 2013 (e) |
540,648
|
||
|
Electric - 2.6%
|
||||
|
20,000
|
NextEra Energy, Inc., 7.00%, 2013 (a)
|
991,000
|
||
|
66,179
|
PPL Corp., 9.50%, 2013 (a)(g)
|
3,593,520
|
||
|
4,584,520
|
||||
|
Hand/Machine Tools - 1.3%
|
||||
|
19,253
|
Stanley Black & Decker, Inc., 4.75%, 11/17/15 (a)
|
2,247,403
|
||
|
Healthcare-Services - 0.6%
|
||||
|
1,000
|
Healthsouth Corp., Ser. A, 6.50% (f)
|
1,016,500
|
||
|
Insurance - 2.2%
|
||||
| 77,524 | Hartford Financial Services Group, Inc., Ser. F, 7.25%, 2013 (a)(g) | 2,042,757 | ||
|
53,775
|
XL Group PLC., 10.75%, 2011 (Ireland) (a)(g)
|
1,700,366
|
||
|
3,743,123
|
||||
|
Leisure Time - 0.6%
|
||||
|
8,792
|
Callaway Golf Co., Ser. B, 7.50% (f)
|
1,075,921
|
||
|
Mining - 0.6%
|
||||
| 19,999 | AngloGold Ashanti Ltd., 6.00%, 2013 (South Africa) (a) | 1,025,949 | ||
|
Oil & Gas - 1.9%
|
||||
|
45,589
|
Apache Corp., Ser. D, 6.00%, 2013 (a)(g)
|
2,983,344
|
||
|
1,250
|
Energy XXI Bermuda Ltd., 5.625% (Bermuda) (f)
|
407,031
|
||
|
3,390,375
|
||||
|
Pharmaceuticals - 1.4%
|
||||
|
59,300
|
Omnicare Capital Trust II, Ser. B, 4.00%, 2033 (a)
|
2,353,024
|
||
|
Real Estate - 0.5%
|
||||
|
14,996
|
Forest City Enterprises, Inc., Ser. A, 7.00% (a)(f)(g)
|
940,062
|
||
|
REITS - 0.7%
|
||||
| 50,000 | Alexandria Real Estate Equities, Inc., Ser. D, 7.00% (a)(f) | 1,250,000 | ||
|
Telecommunications - 1.2%
|
||||
|
2,285
|
Lucent Technologies Capital Trust I, 7.75%, 2017 (g)
|
2,076,494
|
||
|
Total Convertible Preferred Stocks - 26.0%
|
||||
|
(Cost $38,737,455)
|
45,239,161
|
|||
|
Principal Amount
|
Value
|
|||
|
Corporate Bonds - 20.6%
|
||||
|
Beverages - 0.6%
|
||||
|
$ 1,000,000
|
Constellation Brands, Inc., BB
|
|||
|
7.25%, 9/1/16 (g)
|
1,063,750
|
|||
|
Chemicals - 1.3%
|
||||
|
$ 2,042,000
|
Lyondell Chemical Co., B
|
|||
|
11.00%, 5/1/18
|
2,327,880
|
|||
|
Diversified Financial Services - 2.8%
|
||||
|
$ 1,350,000
|
Capital One Capital V, BB
|
|||
|
10.25%, 8/15/39 (g)
|
1,459,688
|
|||
|
$ 2,000,000
|
Ford Motor Credit Co. LLC, B+
|
|||
|
12.00%, 5/15/15 (g)
|
2,535,812
|
|||
|
$ 1,000,000
|
Textron Financial Corp., B
|
|||
|
6.00%, 2/15/67 (d)(e)
|
841,250
|
|||
|
4,836,750
|
||||
|
Electronics - 0.4%
|
||||
|
$ 673,000
|
Sanmina-SCI Corp., CCC+
|
|||
|
8.125%, 3/1/16
|
696,555
|
|||
|
Food - 0.7%
|
||||
|
$ 1,000,000
|
Smithfield Foods, Inc., B+
|
|||
|
10.00%, 7/15/14
|
1,176,250
|
|||
|
Healthcare-Products - 1.0%
|
||||
|
$ 1,500,000
|
Biomet, Inc., B-
|
|||
|
10.00%, 10/15/17 (g)
|
1,676,250
|
|||
|
Healthcare - Services - 1.9%
|
||||
|
$ 2,500,000
|
Apria Healthcare Group, Inc., BB+
|
|||
|
11.25%, 11/1/14 (g)
|
2,759,375
|
|||
|
$ 500,000
|
HCA, Inc., BB-
|
|||
|
9.25%, 11/15/16
|
538,125
|
|||
|
3,297,500
|
||||
|
Insurance - 1.9%
|
||||
|
$ 1,000,000
|
AXA SA, BBB
|
|||
|
6.379% (France) (d)(e)(f)
|
892,500
|
|||
| $ 1,000,000 | Liberty Mutual Group, Inc., BB | |||
| 10.75%, 6/15/58 (d)(e) | 1,275,000 | |||
|
$ 800,000
|
Metlife, Inc., BBB
|
|||
|
10.75%, 8/1/39 (g)
|
1,110,000
|
|||
|
3,277,500
|
||||
|
Machinery-Diversified - 1.6%
|
||||
|
$ 2,500,000
|
Case New Holland, Inc., BB+
|
|||
|
7.75%, 9/1/13 (g)
|
2,737,500
|
|||
|
Media - 2.8%
|
||||
|
$ 3,000,000
|
Clear Channel Worldwide Holdings, Inc., Ser. B, B
|
|||
|
9.25%, 12/15/17 (g)
|
3,322,500
|
|||
|
$ 500,000
|
Univision Communications, Inc., B
|
|||
|
12.00%, 7/1/14 (e)
|
545,625
|
|||
|
$ 1,000,000
|
UPC Holding BV, B-
|
|||
|
9.875%, 4/15/18 (Netherlands) (e)(g)
|
1,107,500
|
|||
|
4,975,625
|
||||
|
Oil & Gas - 0.7%
|
||||
|
$ 1,200,000
|
Alta Mesa Holdings/Alta Mesa Finance Services Corp., B
|
|||
|
9.625%, 10/15/18 (e)(g)
|
1,188,000
|
|||
|
Pharmaceuticals - 1.0%
|
||||
|
$ 1,665,000
|
Axcan Intermediate Holdings, Inc., B
|
|||
|
12.75%, 3/1/16 (g)
|
1,781,550
|
|||
|
Retail - 1.5%
|
||||
|
$ 2,450,000
|
Toys R Us Property Co. II LLC, B+
|
|||
|
8.50%, 12/1/17 (g)
|
2,670,500
|
|||
|
Telecommunications - 2.4%
|
||||
|
€ 2,700,000
|
Alcatel-Lucent, B
|
|||
|
8.50%, 1/15/16 (France)
|
3,710,952
|
|||
|
$ 500,000
|
NII Capital Corp., BB-
|
|||
|
10.00%, 8/15/16
|
560,000
|
|||
|
4,270,952
|
||||
|
Total Corporate Bonds - 20.6%
|
||||
|
(Cost $33,118,491)
|
35,976,562
|
|||
|
Number of Shares
|
Value
|
|||
|
Common Stocks — 17.4%
|
||||
|
Banks - 1.4%
|
||||
|
155,000
|
Citigroup, Inc. (a)(b)
|
747,100
|
||
|
20,000
|
Sumitomo Mitsui Financial Group, Inc. (Japan)
|
681,557
|
||
|
40,074
|
Zions Bancorporation (g)
|
944,945
|
||
|
2,373,602
|
||||
|
Biotechnology - 0.4%
|
||||
|
12,000
|
Life Technologies Corp. (a)(b)(g)
|
651,480
|
||
|
Computers - 3.4%
|
||||
|
6,200
|
Apple, Inc. (a)(b)(g)
|
2,103,784
|
||
|
71,100
|
EMC Corp. (a)(b)(g)
|
1,769,679
|
||
|
45,000
|
Hewlett-Packard Co. (a)(g)
|
2,056,050
|
||
|
5,929,513
|
||||
|
Insurance - 0.3%
|
||||
|
60,300
|
MGIC Investment Corp. (a)(b)
|
505,917
|
||
|
Internet - 1.1%
|
||||
|
1,000
|
Equinix, Inc. (a)(b)
|
88,420
|
||
|
3,000
|
Google, Inc. - Class A (a)(b)(g)
|
1,801,080
|
||
|
1,889,500
|
||||
|
Iron/Steel - 0.4%
|
||||
|
135
|
APERAM (Luxembourg) (b)
|
5,501
|
||
|
2,700
|
ArcelorMittal (Luxembourg) (a)(g)
|
98,496
|
||
|
10,000
|
United States Steel Corp. (a)(g)
|
576,700
|
||
|
680,697
|
||||
|
Lodging - 0.0%*
|
||||
|
1,000
|
MGM Resorts International (a)(b)
|
14,830
|
||
|
Mining - 0.4%
|
||||
|
1,000
|
Goldcorp, Inc. (Canada)
|
40,210
|
||
|
2,500
|
Newmont Mining Corp. (a)
|
137,675
|
||
|
25,000
|
Xstrata PLC (United Kingdom)
|
554,606
|
||
|
732,491
|
||||
|
Miscellaneous Manufacturing - 3.0%
|
||||
|
104,500
|
General Electric Co. (a)(g)
|
2,104,630
|
||
|
39,100
|
Honeywell International, Inc. (a)(g)
|
2,189,991
|
||
|
38,000
|
Textron, Inc. (a)
|
999,020
|
||
|
5,293,641
|
||||
|
Oil & Gas - 2.1%
|
||||
|
5,000
|
Chesapeake Energy Corp. (a)(g)
|
147,650
|
||
|
8,400
|
Exxon Mobil Corp. (a)(g)
|
677,712
|
||
|
50,500
|
Suncor Energy, Inc. (Canada) (a)(g)
|
2,096,255
|
||
|
5,769
|
Whiting Petroleum Corp. (a)(b)
|
728,509
|
||
|
3,650,126
|
||||
|
Pharmaceuticals - 1.1%
|
||||
|
15,500
|
Cephalon, Inc. (a)(b)(g)
|
915,740
|
||
|
30,000
|
Mylan, Inc. (a)(b)(g)
|
694,800
|
||
| 5,200 | Teva Pharmaceutical Industries Ltd., ADR (Israel) (a)(g) | 284,180 | ||
|
1,894,720
|
||||
|
Real Estate - 0.3%
|
||||
|
36,200
|
Forest City Enterprises, Inc. - Class A (a)(b)
|
612,142
|
||
|
REITS - 0.2%
|
||||
|
20,000
|
Annaly Capital Management, Inc. (a)
|
356,600
|
||
|
Semiconductors - 1.1%
|
||||
|
103,000
|
Advanced Micro Devices, Inc. (a)(b)(g)
|
806,490
|
||
|
45,000
|
Intel Corp. (a)
|
965,700
|
||
|
8,500
|
ON Semiconductor Corp. (a)(b)
|
93,925
|
||
|
1,866,115
|
||||
|
Software - 1.2%
|
||||
|
77,000
|
Microsoft Corp. (a)(g)
|
2,134,825
|
||
|
Telecommunications - 1.0%
|
||||
|
15,500
|
QUALCOMM, Inc. (a)(g)
|
839,015
|
||
|
24,000
|
Verizon Communications, Inc. (a)(g)
|
854,880
|
||
|
1,693,895
|
||||
|
Total Common Stocks - 17.4%
|
||||
|
(Cost $25,868,409)
|
30,280,094
|
|||
|
Preferred Stock - 4.2%
|
||||
|
Diversified Financial Services - 3.5%
|
||||
|
75,000
|
Citigroup Capital XII, 8.50% (d)(g)
|
1,972,500
|
||
|
80,976
|
Citigroup Capital XIII, 7.875% (d)
|
2,164,488
|
||
|
80,000
|
JPMorgan Chase Capital XXIX, 6.70% (g)
|
2,034,400
|
||
|
6,171,388
|
||||
|
Lodging - 0.7%
|
||||
|
10,300
|
Las Vegas Sands Corp., 10.00%
|
1,184,500
|
||
|
Total Preferred Stock - 4.2%
|
||||
|
(Cost $7,154,202)
|
7,355,888
|
|||
|
Exchange-Traded Funds - 2.8%
|
||||
|
55,100
|
Industrial Select Sector SPDR Fund (a)(g)
|
1,996,824
|
||
|
5,200
|
Market Vectors Rare Earth/Strategic Metals ETF
|
121,472
|
||
|
22,000
|
SPDR S&P 500 ETF Trust (a)(g)
|
2,830,740
|
||
|
(Cost $4,340,634)
|
4,949,036
|
|||
|
Warrants - 2.0%
|
||||
|
333,789
|
Bank of America Corp. (a)(b)
|
867,851
|
||
|
142,859
|
JPMorgan Chase & Co. (a)(b)(g)
|
2,085,741
|
||
|
45,288
|
Wells Fargo & Co. (a)(b)
|
481,411
|
||
|
(Cost $2,959,024)
|
3,435,003
|
|||
|
Total Investments - 122.2%
|
||||
|
(Cost $190,790,545)
|
212,922,252
|
|||
|
Other Assets in excess of Liabilities - 6.5%
|
11,475,033
|
|||
| Total Options Written (Premiums received $62,537) - (0.0%*) | (87,923) | |||
|
Borrowings - (28.7%)
|
(50,000,000)
|
|||
|
Net Assets - 100.0%
|
$ 174,309,362
|
|||
|
*Less than 0.1%
|
||||
|
AB - Stock Company
|
|
|||
|
ADR - American Depositary Receipt
|
||||
|
BV - Limited Liability Company
|
||||
|
LLC - Limited Liability Company
|
||||
|
LP - Limited Partnership
|
||||
|
PLC - Public Limited Company
|
||||
|
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) Security has a fixed rate coupon which will convert to a floating or variable coupon on a future date.
|
||||
|
(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 January 31, 2011, these securities amounted to 12.1% of net assets.
|
||||
|
(f) Perpetual maturity.
|
||||
|
(g) All or a portion of this security has been physically segregated in connection with the
|
||||
|
line of credit. As of January 31, 2011, the total amount segregated was $100,132,626.
|
||||
|
Ratings shown are per Standard & Poor's. Securities classified as NR are not rated by Standard & Poor's. Ratings are unaudited.
|
||||
|
The ratings apply to the credit worthiness of the issuers of the underlying securities and not to the Fund or its shares.
|
||||
|
Country Breakdown*
|
||||
|
United States
|
73.6%
|
|||
|
United Kingdom
|
4.6%
|
|||
|
Canada
|
4.1%
|
|||
|
France
|
2.2%
|
|||
|
Bermuda
|
2.0%
|
|||
|
Mexico
|
1.3%
|
|||
|
India
|
1.3%
|
|||
|
Japan
|
1.1%
|
|||
|
Russia
|
1.1%
|
|||
|
Switzerland
|
1.0%
|
|||
|
Singapore
|
1.0%
|
|||
|
Israel
|
0.9%
|
|||
|
Sweden
|
0.9%
|
|||
|
Ireland
|
0.8%
|
|||
|
Hong Kong
|
0.8%
|
|||
|
Luxembourg
|
0.7%
|
|||
|
Cayman Islands
|
0.6%
|
|||
|
Netherlands
|
0.5%
|
|||
|
Austria
|
0.5%
|
|||
|
South Africa
|
0.5%
|
|||
|
Taiwan
|
0.5%
|
|||
|
*
|
As a percentage of total investments. Subject to change daily.
|
|||
|
See previously submitted notes to financial statements for the period ended October 31, 2010.
|
||||
|
Advent/Claymore Enhanced Growth & Income Fund
|
|||||
|
Contracts
|
|||||
|
(100 shares
|
Expiration
|
Exercise
|
Market
|
||
|
per contract)
|
Call Options Written(a)
|
Month
|
Price
|
Value
|
|
|
100
|
Advanced Micro Devices, Inc.
|
February 2011
|
10.00
|
$ (100)
|
|
|
10
|
Alexandria Real Estate Equities, Inc.
|
February 2011
|
80.00
|
(775)
|
|
|
10
|
AngloGold Ashanti Ltd.
|
March 2011
|
50.00
|
(225)
|
|
|
10
|
Annaly Capital Management, Inc.
|
March 2011
|
19.00
|
(30)
|
|
|
10
|
Apache Corp.
|
February 2011
|
125.00
|
(1,630)
|
|
|
10
|
Apple, Inc.
|
February 2011
|
360.00
|
(960)
|
|
|
20
|
ArcelorMittal
|
February 2011
|
41.00
|
(1,440)
|
|
|
10
|
Avis Budget Group, Inc.
|
March 2011
|
17.00
|
(110)
|
|
|
35
|
Bank of America Corp.
|
February 2011
|
15.00
|
(175)
|
|
|
10
|
Cameron International Corp.
|
March 2011
|
57.50
|
(1,100)
|
|
|
10
|
Cephalon, Inc.
|
February 2011
|
70.00
|
(100)
|
|
|
50
|
Chesapeake Energy Corp.
|
February 2011
|
28.00
|
(9,250)
|
|
|
100
|
Citigroup, Inc.
|
March 2011
|
5.50
|
(300)
|
|
|
10
|
Digital River, Inc.
|
February 2011
|
39.00
|
(50)
|
|
|
50
|
EMC Corp.
|
February 2011
|
25.00
|
(2,150)
|
|
|
10
|
Equinix, Inc.
|
February 2011
|
95.00
|
(1,100)
|
|
|
10
|
Exxon Mobil Corp.
|
February 2011
|
80.00
|
(1,430)
|
|
|
10
|
Ford Motor Co.
|
February 2011
|
21.00
|
(30)
|
|
|
10
|
Forest City Enterprises, Inc.
|
March 2011
|
17.50
|
(500)
|
|
|
10
|
General Electric Co.
|
February 2011
|
22.50
|
(30)
|
|
|
10
|
General Motors Co.
|
March 2011
|
40.00
|
(450)
|
|
|
5
|
Google, Inc.
|
February 2011
|
650.00
|
(370)
|
|
|
25
|
GSI Commerce, Inc.
|
March 2011
|
27.00
|
(813)
|
|
|
15
|
Hartford Financial Services Group, Inc.
|
February 2011
|
30.00
|
(315)
|
|
|
50
|
Hewlett-Packard Co.
|
February 2011
|
45.00
|
(6,200)
|
|
|
50
|
Honeywell International, Inc.
|
March 2011
|
60.00
|
(1,600)
|
|
|
10
|
Host Hotels & Resorts LP
|
March 2011
|
20.00
|
(200)
|
|
|
50
|
Industrial Select Sector SPDR Fund
|
March 2011
|
39.00
|
(450)
|
|
|
25
|
Intel Corp.
|
February 2011
|
23.00
|
(50)
|
|
|
10
|
International Game Technology
|
February 2011
|
20.00
|
(50)
|
|
|
10
|
JPMorgan Chase & Co.
|
February 2011
|
46.00
|
(470)
|
|
|
10
|
KeyCorp
|
March 2011
|
10.00
|
(100)
|
|
|
10
|
Lennar Corp.
|
March 2011
|
23.00
|
(110)
|
|
|
25
|
Life Technologies Corp.
|
February 2011
|
60.00
|
(375)
|
|
|
100
|
MGIC Investment Corp.
|
March 2011
|
9.00
|
(5,000)
|
|
|
10
|
MGM Resorts International
|
March 2011
|
17.50
|
(310)
|
|
|
50
|
Microsoft Corp.
|
March 2011
|
30.00
|
(600)
|
|
|
25
|
Mylan, Inc.
|
February 2011
|
25.00
|
(250)
|
|
|
10
|
Navistar International Corp.
|
March 2011
|
70.00
|
(1,250)
|
|
|
25
|
Newmont Mining Corp.
|
February 2011
|
65.00
|
(200)
|
|
|
10
|
NextEra Energy, Inc.
|
February 2011
|
55.00
|
(200)
|
|
|
10
|
Omnicare Capital Trust II
|
February 2011
|
28.00
|
(100)
|
|
|
25
|
ON Semiconductor Corp.
|
February 2011
|
10.00
|
(2,500)
|
|
|
10
|
Patriot Coal Corp.
|
March 2011
|
29.00
|
(1,400)
|
|
|
15
|
Peabody Energy Corp.
|
February 2011
|
70.00
|
(375)
|
|
|
10
|
Petroleum Development Corp.
|
April 2011
|
50.00
|
(1,400)
|
|
|
10
|
PPL Corp.
|
February 2011
|
28.00
|
(100)
|
|
|
40
|
QUALCOMM, Inc.
|
February 2011
|
55.00
|
(2,840)
|
|
|
10
|
SanDisk Corp.
|
March 2011
|
60.00
|
(150)
|
|
|
10
|
Sonic Automotive, Inc.
|
February 2011
|
15.00
|
(250)
|
|
|
25
|
SPDR S&P 500 ETF Trust
|
March 2011
|
135.00
|
(1,050)
|
|
|
10
|
Stanley Black & Decker, Inc.
|
February 2011
|
70.00
|
(3,300)
|
|
|
45
|
Suncor Energy, Inc.
|
February 2011
|
42.50
|
(4,590)
|
|
|
10
|
Synovus Financial Corp.
|
February 2011
|
3.00
|
(50)
|
|
|
20
|
Teva Pharmaceutical Industries Ltd.
|
March 2011
|
57.50
|
(1,400)
|
|
|
100
|
Textron, Inc.
|
February 2011
|
25.00
|
(15,800)
|
|
|
10
|
Trinity Industries, Inc.
|
February 2011
|
28.00
|
(920)
|
|
|
10
|
UBS AG/Stillwater Mining Co.
|
March 2011
|
26.00
|
(350)
|
|
|
50
|
United States Steel Corp.
|
February 2011
|
60.00
|
(5,500)
|
|
|
10
|
Verizon Communications, Inc.
|
February 2011
|
38.00
|
(40)
|
|
|
10
|
Wells Fargo & Co.
|
February 2011
|
34.00
|
(160)
|
|
|
10
|
Whiting Petroleum Corp.
|
March 2011
|
130.00
|
(4,500)
|
|
|
20
|
XL Group Plc
|
February 2011
|
25.00
|
(250)
|
|
|
50
|
XM Satellite Radio, Inc.
|
February 2011
|
2.00
|
(50)
|
|
|
Total Options Written
|
|||||
|
(Premiums received ($62,537))
|
$ (87,923)
|
||||
|
(a) Non-income producing security.
|
|||||
|
At January 31, 2011, the following forward exchange currency contracts were outstanding:
|
||||||||||
|
Contracts to Sell
|
Counterparty
|
Settlement
Date
|
Settlement Value
|
Value at 1/31/11
|
Net Unrealized Appreciation (Depreciation)
|
|||||
|
EUR
|
4,800,000
|
|
|
|
||||||
|
for USD
|
6,416,976
|
The Bank of New York Mellon
|
3/16/2011
|
$ 6,416,976
|
$ 6,577,142
|
$ (160,166)
|
||||
|
JPY
|
275,000,000
|
|||||||||
|
for USD
|
3,291,048
|
The Bank of New York Mellon
|
3/16/2011
|
3,291,048
|
3,357,560
|
(66,512)
|
||||
|
GBP
|
3,800,000
|
|||||||||
|
for USD
|
5,983,860
|
The Bank of New York Mellon
|
3/16/2011
|
5,983,860
|
6,084,619
|
(100,759)
|
||||
|
Total unrealized depreciation on forward exchange currency contracts
|
$ (327,437)
|
|||||||||
|
At January 31, 2011, the Fund had the following unfunded loan commitment which
|
||
|
could be extended at the option of the borrower:
|
||
|
Borrower
|
Principal Amount
|
Unrealized Depreciation
|
|
Harrah's Las Vegas Propco LLC
|
$ 1,000,000
|
$ (16,250)
|
|
At January 31, 2011, 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
|
|||||||||||
| $ | 190,895,760 | $ | 23,014,096 | $ | (987,604 | ) | $ | 22,026,492 | ||||||
|
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. A financial
|
||||||||
|
instrument's level within the fair value hierarchy is based on the lowest level of any input both individually and
|
||||||||
|
in aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities
|
||||||||
|
are not necessarily an indication of the risk associated with investing in those securities.
|
||||||||
|
The Fund has adopted the Accounting Standard Update, Fair Value Measurements and Disclosures
|
||||||||
|
(Topic 820): Improving Disclosures about Fair Value Measurements which provides guidance on
|
||||||||
|
how investment assets and liabilities are to be valued and disclosed. Specifically, the amendment
|
||||||||
|
requires reporting entities to disclose i) the input and valuation techniques used to measure fair value
|
||||||||
|
for both recurring and nonrecurring fair value measurements, for Level 2 or Level 3 positions, ii)
|
||||||||
|
transfers between all levels (including Level 1 and Level 2) are required to be disclosed on a gross
|
||||||||
|
basis (i.e. transfers out must be disclosed separately from transfers in) as well as the reason(s) for the
|
||||||||
|
transfer, and iii) purchases, sales, issuances and settlements must be shown on a gross basis in the
|
||||||||
|
Level 3 rollforward rather than as one net number. The effective date of the amendment is for interim
|
||||||||
|
and annual periods beginning after December 15, 2009, however, the requirement to provide the
|
||||||||
|
Level 3 activity for purchases, sales, issuances and settlements on a gross basis will be effective for
|
||||||||
|
interim and annual periods beginning after December 15, 2010. The Fund has adopted the
|
||||||||
|
disclosures required by this amendment, which did not have a material impact on the financial
|
||||||||
|
statements.
|
||||||||
|
|
||||||||
|
The Fund values Level 1 securities using readily available market quotations in active markets. The
|
||||||||
|
Fund values Level 2 fixed income securities using independent pricing providers who employ matrix
|
||||||||
|
pricing models utilizing market prices, broker quotes and prices of securities with comparable
|
||||||||
|
maturities and qualities. The Fund values Level 2 equity securities using various observable
|
||||||||
|
market inputs in accordance with procedures approved by the Board of Trustees.
|
||||||||
|
The Funds did not have any Level 3 securities at January 31, 2011.
|
||||||||
|
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 January 31, 2011:
|
||||||||
|
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
|
$ | - | $ | 85,687 | $ | - | $ | 85,687 | ||||||||
|
Convertible Preferred Stocks:
|
||||||||||||||||
|
Auto Manufacturers
|
6,052 | - | - | 6,052 | ||||||||||||
|
Banks
|
13,831 | 1,112 | - | 14,943 | ||||||||||||
|
Diversified Financial Services
|
- | 541 | - | 541 | ||||||||||||
|
Electric
|
3,594 | 991 | - | 4,585 | ||||||||||||
|
Hand/Machine Tools
|
2,247 | - | - | 2,247 | ||||||||||||
|
Healthcare-Services
|
- | 1,017 | - | 1,017 | ||||||||||||
|
Insurance
|
3,743 | - | - | 3,743 | ||||||||||||
|
Leisure Time
|
- | 1,076 | - | 1,076 | ||||||||||||
|
Mining
|
1,026 | - | - | 1,026 | ||||||||||||
|
Oil & Gas
|
2,983 | 407 | - | 3,390 | ||||||||||||
|
Pharmaceuticals
|
2,353 | - | - | 2,353 | ||||||||||||
|
Real Estate
|
- | 940 | - | 940 | ||||||||||||
|
REITS
|
- | 1,250 | 1,250 | |||||||||||||
|
Telecommunications
|
- | 2,076 | - | 2,076 | ||||||||||||
|
Common Stocks
|
30,280 | - | - | 30,280 | ||||||||||||
|
Corporate Bonds
|
- | 35,976 | - | 35,976 | ||||||||||||
|
Exchange-Traded Funds
|
4,949 | - | - | 4,949 | ||||||||||||
|
Preferred Stock:
|
||||||||||||||||
|
Diversified Financial Services
|
6,171 | - | - | 6,171 | ||||||||||||
|
Lodging
|
- | 1,185 | - | 1,185 | ||||||||||||
|
Warrants
|
3,435 | - | - | 3,435 | ||||||||||||
|
Total
|
$ | 80,664 | $ | 132,258 | $ | - | $ | 212,922 | ||||||||
|
Liabilities:
|
||||||||||||||||
|
Options Written
|
$ | 88 | $ | - | $ | - | $ | 88 | ||||||||
|
Foreign Exchange Currency Contracts
|
- | 327 | - | 327 | ||||||||||||
| Unfunded Commitments | - | 16 | - | 16 | ||||||||||||
|
Total
|
$ | 88 | $ | 343 | $ | - | $ | 431 | ||||||||
|
There were no transfers between Level 1 and Level 2. There were no Level 3 transfers.
|
||||||||||||||||
|
|
(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.
|
|
Advent/Claymore Enhanced Growth & Income Fund
|
|
By:
|
/s/ Tracy V. Maitland |
|
Date:
|
March 24, 2011
|
|
By:
|
/s/ Tracy V. Maitland |
|
Date:
|
March 24, 2011
|
|
By:
|
/s/ Robert White |
|
Date:
|
March 24, 2011
|