clay49815-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
     811-22022
 
Advent/Claymore Global Convertible Securities & 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, Treasurer
 
 Advent/Claymore Global Convertible Securities & Income Fund
 
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) 482-1600                                                                                                                     

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.
 
AGC | Advent/Claymore Global Convertible Securities & Income Fund
        
Portfolio of Investments
            
July 31, 2010 (unaudited)
        
             
             
 Principal Amount
          
 Value
   
Long-Term Investments - 158.4%
        
   
Convertible Bonds - 94.2%
        
   
Advertising - 0.8%
        
 £                1,400,000
  
Aegis Group Capital, NR
        
   
2.50%, 4/20/15 (United Kingdom)
      
 $    2,200,676
             
   
Agriculture - 1.9%
        
 CNY         35,000,000
  
China Green Holdings Ltd., Ser. CGHL, NR
        
   
0.00%, 10/29/10 (Bermuda) (a)
      
       5,310,701
           
 
   
Airlines - 0.8%
        
 €                1,700,000
  
Air Berlin Finance BV, NR
        
   
9.00%, 8/25/14 (United Kingdom)
      
       2,273,879
           
 
   
Apparel - 2.1%
        
 HK$          38,000,000
  
Yue Yuen Industrial Holdings Ltd., NR
        
   
0.00%, 11/17/11 (Bermuda)
      
       5,792,546
           
 
   
Auto Manufacturers - 1.2%
      
 
 $                2,150,000
  
Ford Motor Co., B
      
 
   
4.25%, 11/15/16
      
       3,281,437
             
   
Banks - 3.6%
        
 €                6,600,000
  
Kreditanstalt fuer Wiederaufbau, Ser. DPW, AAA
        
   
1.50%, 7/30/14 (Germany)
      
     10,167,576
           
 
   
Beverages - 1.6%
      
 
 $                5,078,000
  
Central European Distribution Corp., B-
      
 
   
3.00%, 3/15/13
      
       4,500,377
           
 
   
Biotechnology - 4.5%
      
 
 $                3,150,000
  
American Oriental Bioengineering, Inc., NR
      
 
   
5.00%, 7/15/15 (b)
      
       2,252,250
 $                4,000,000
  
Amylin Pharmaceuticals, Inc., NR
      
 
   
3.00%, 6/15/14
      
       3,485,000
 $                6,625,000
  
Gilead Sciences, Inc., NR
      
 
   
0.50%, 5/1/11
      
       6,757,500
           
     12,494,750
   
Building Materials - 3.7%
      
 
 JPY        510,000,000
  
Asahi Glass Co. Ltd., NR
      
 
   
0.00%, 11/14/12 (Japan)
      
       6,054,823
 $                4,249,000
  
Cemex SAB de CV, NR
      
 
   
4.875%, 3/15/15 (Mexico) (b)
      
       4,249,000
           
     10,303,823
   
Chemicals - 0.9%
      
 
 HK$          16,350,000
  
Sinofert Holdings Ltd., NR
      
 
   
0.00%, 8/7/11 (Bermuda)
      
       2,642,394
             
   
Coal - 1.8%
        
 $                2,900,000
  
Alpha Natural Resources, Inc., BB
        
   
2.375%, 4/15/15
      
       3,088,500
 $                2,250,000
  
Massey Energy Co., BB-
        
   
3.25%, 8/1/15
      
       1,940,625
           
       5,029,125
   
Computers - 4.4%
      
 
 €                7,300,000
  
Cap Gemini SA, BBB-
      
 
   
3.50%, 1/1/14 (France)
      
       4,155,594
 $                6,250,000
  
EMC Corp., A-
      
 
   
1.75%, 12/1/11
      
       8,093,750
           
     12,249,344
   
Diversified Financial Services - 2.0%
      
 
 £                1,500,000
  
Aberdeen Asset Management PLC, Ser. ADN, NR
      
 
   
3.50%, 12/17/14 (United Kingdom)
      
       2,396,778
 $                3,090,000
  
Jefferies Group, Inc., BBB
      
 
   
3.875%, 11/1/29
      
       3,140,212
           
       5,536,990
   
Electrical Components & Equipment - 6.4%
        
 CNY         53,100,000
  
China High Speed Transmission Equipment Group Co. Ltd., Ser. CHIS, NR
      
   
0.00%, 5/14/11 (Cayman Islands) (a)
      
       9,146,837
 $                8,116,000
  
Suntech Power Holdings Co. Ltd., NR
      
 
   
3.00%, 3/15/13 (Cayman Islands)
      
       6,604,395
 $                2,000,000
  
Yingli Green Energy Holding Co. Ltd., NR
        
   
0.00%, 12/15/12 (Cayman Islands)
      
       2,297,500
           
     18,048,732
   
Engineering & Construction - 1.7%
        
 $                3,725,000
  
Jaiprakash Associates Ltd., NR
        
   
0.00%, 9/12/12 (India)
      
       4,768,000
             
   
Entertainment - 1.4%
        
 $                3,500,000
  
International Game Technology, BBB
        
   
3.25%, 5/1/14
      
       3,876,250
           
 
   
Forest Products & Paper - 1.7%
        
 $                4,875,000
  
Sino-Forest Corp., BB
        
   
4.25%, 12/15/16 (Canada) (b)
      
       4,637,344
             
   
Health Care Products - 4.3%
        
 $                4,840,000
  
Beckman Coulter, Inc., BBB
        
   
2.50%, 12/15/36
      
       4,954,950
 $                4,000,000
  
Hologic, Inc., BB-
        
   
2.00%, 12/15/37 (c)
      
       3,545,000
 $                3,593,000
  
NuVasive, Inc., NR
        
   
2.25%, 3/15/13
      
       3,691,808
           
     12,191,758
   
Holding Companies - Diversified - 2.5%
        
 €                4,800,000
  
Industrivarden AB, Ser. INDU, A
        
   
2.50%, 2/27/15 (Sweden)
      
       7,038,180
             
   
Insurance - 0.9%
        
 $                2,000,000
  
Old Republic International Corp., BBB+
        
   
8.00%, 5/15/12
      
       2,450,000
             
   
Iron/Steel - 0.7%
        
 $                1,500,000
  
ArcelorMittal, BBB
        
   
5.00%, 5/15/14 (Luxembourg)
      
       1,920,000
             
   
Lesisure Time - 2.8%
        
 $                3,000,000
  
Carnival Corp., BBB+
        
   
2.00%, 4/15/21 (United Kingdom)
      
       3,221,250
 £                3,000,000
  
TUI Travel PLC, NR
        
   
6.00%, 10/5/14 (United Kingdom)
      
       4,565,520
           
       7,786,770
   
Lodging - 5.1%
        
 HK$          48,600,000
  
Champion Path Holdings Ltd., NR
        
   
0.00%, 10/28/15 (Hong Kong)
      
       8,057,083
 $                4,601,000
  
MGM Resorts International, CCC+
        
   
4.25%, 4/15/15 (b)
      
       4,117,895
 $                2,750,000
  
Morgans Hotel Group Co., NR
        
   
2.375%, 10/15/14
      
       2,055,625
           
     14,230,603
   
Media - 1.7%
      
 
 $                4,000,000
  
Central European Media Enterprises Ltd., B
      
 
   
3.50%, 3/15/13 (Bermuda) (b)
      
       3,230,000
 $                1,700,000
  
XM Satellite Radio, Inc., CCC+
      
 
   
7.00%, 12/1/14 (b)
      
       1,676,625
           
       4,906,625
   
Mining - 9.4%
        
 $                2,750,000
  
AngloGold Ashanti Holdings Finance PLC, NR
      
 
   
3.50%, 5/22/14 (South Africa) (b)
      
       3,014,687
 $                3,500,000
  
Enercoal Resources Pte Ltd., NR
      
 
   
9.25%, 8/5/14 (Indonesia)
      
       3,215,478
 $                4,000,000
  
Goldcorp, Inc., BBB+
        
   
2.00%, 8/1/14 (Canada)
      
       4,565,000
 $                2,000,000
  
Jaguar Mining, Inc., NR
        
   
4.50%, 11/1/14 (Canada) (b)
      
       1,885,000
 $                5,995,000
  
Kinross Gold Corp., NR
        
   
1.75%, 3/15/28 (Canada)
      
       5,845,125
 $                5,400,000
  
Vedanta Resources Jersey II Ltd., BB
        
   
4.00%, 3/30/17 (United Kingdom)
      
       5,629,500
 $                2,000,000
  
Xstrata Capital Corp AVV, Ser. XTA, BBB
        
   
4.00%, 8/14/17 (United Kingdom)
      
       2,259,676
           
     26,414,466
   
Miscellaneous Manufacturing - 0.8%
        
 $                2,625,000
  
Trinity Industries, Inc., BB-
        
   
3.875%, 6/1/36
      
       2,168,906
             
   
Oil & Gas - 9.8%
        
 $                4,325,000
  
Chesapeake Energy Corp., BB
      
 
   
2.25%, 12/15/38
      
       3,249,156
 $                8,500,000
  
PetroBakken Energy Ltd., Ser. REGS, NR
        
   
3.125%, 2/8/16 (Canada)
      
       8,134,126
 HK$          27,400,000
  
Power Regal Group Ltd., NR
      
 
   
2.25%, 6/2/14 (Hong Kong)
      
       4,697,286
 $                8,300,000
  
Seadrill Ltd., NR
        
   
3.625%, 11/8/12 (Bermuda)
      
       8,407,361
 $                3,220,000
  
Transocean, Inc., Ser. B, BBB+
      
 
   
1.50%, 12/15/37 (Cayman Islands)
      
       2,978,500
           
     27,466,429
   
Pharmaceuticals - 6.0%
        
 $                8,500,000
  
Shire PLC, Ser. SHP, NR
        
   
2.75%, 5/9/14 (Jersey)
      
       8,493,387
 $                3,525,000
  
Teva Pharmaceutical Finance Co. BV, Ser. D, A-
      
 
   
1.75%, 2/1/26 (Israel)
      
       3,952,406
 $                3,800,000
  
Teva Pharmaceutical Finance LLC, Ser. C, A-
        
   
0.25%, 2/1/26 (Israel)
      
       4,403,250
           
     16,849,043
   
Real Estate - 0.8%
        
 €                1,800,000
  
Conwert Immobilien Invest SE, Ser. CWI, NR
        
   
5.25%, 2/1/16 (Austria)
      
       2,360,209
             
   
Real Estate Investment Trusts - 1.6%
        
 AUD           5,000,000
  
Commonwealth Property Office Fund, A-
        
   
5.25%, 12/11/16 (Australia)
      
       4,435,907
             
   
Semiconductors - 1.5%
        
 $                3,600,000
  
Intel Corp., A-
        
   
3.25%, 8/1/39 (b)
      
       4,284,000
             
   
Telecommunications - 5.0%
      
 
 £                3,500,000
  
Cable & Wireless Worldwide PLC, NR
        
   
5.75%, 11/24/14 (United Kingdom)
      
       5,714,306
 $                2,800,000
  
Inmarsat PLC, Ser. ISAT, NR
      
 
   
1.75%, 11/16/17 (United Kingdom)
      
       3,262,000
 JPY        314,000,000
  
Softbank Corp., BB+
      
 
   
1.75%, 3/31/14 (Japan)
      
       4,988,980
           
     13,965,286
   
Utility - 0.8%
        
 €                1,600,000
  
International Power Jersey II Ltd., BB
      
 
   
3.25%, 7/20/13 (United Kingdom)
      
       2,255,406
             
             
   
Total Convertible Bonds - 94.2%
        
   
(Cost $254,322,873)
      
   263,837,532
             
 Number of Shares
          
 Value
   
Convertible Preferred Stocks - 38.4%
        
   
Auto Manufacturers - 4.3%
        
                      155,000
  
Ford Motor Co. Capital Trust II, 6.50%, 2032
      
       7,213,700
                      125,000
  
Peugeot SA, 4.45%, 2016 (France)
      
       4,776,844
           
     11,990,544
   
Banks - 9.3%
      
 
                         4,770
  
Bank of America Corp., Ser. L, 7.25% (e)
      
       4,388,400
                       57,451
  
Citigroup, Inc., 7.50%, 2012
      
       6,991,787
                       44,805
  
KeyCorp, Ser. A, 7.75% (e)
      
       4,547,708
                      142,162
  
Synovus Financial Corp., Ser. tMED, 8.25%, 2013
      
       3,600,963
                         6,647
  
Wells Fargo & Co., Ser. L, 7.50% (e)
      
       6,480,825
           
     26,009,683
   
Electric - 6.5%
      
 
                       82,500
  
Great Plains Energy, Inc., 12.00%, 2012
      
       5,051,888
                      100,000
  
NextEra Energy, Inc., 8.375%, 2012
      
       5,140,000
                      147,122
  
PPL Corp., 9.50%, 2013
      
       8,207,936
           
     18,399,824
   
Food Products - 1.2%
        
                      300,000
  
Dole Food 2009 Automatic Common Exchange Security Trust, 7.00%, 2012 (b)
  
       3,281,250
           
 
   
Housewares - 0.3%
        
                       25,000
  
Newell Financial Trust I, 5.25% (e)
      
         921,875
           
 
   
Insurance - 4.8%
      
 
                      207,097
  
Hartford Financial Services Group, Inc., 7.25%, 2013
      
       5,073,877
                      314,558
  
XL Group PLC, 10.75%, 2011 (Ireland)
      
       8,335,787
           
     13,409,664
   
Oil & Gas - 2.3%
        
                      119,764
  
Apache Corp., Ser. D, 6.00%, 2013
      
       6,506,778
           
 
   
Pharmaceuticals - 2.3%
      
 
                         6,080
  
Mylan, Inc., 6.50%, 2010
      
       6,443,280
           
 
   
Pipelines - 1.2%
      
 
                         3,250
  
El Paso Corp., 4.99% (e)
      
       3,478,982
             
   
Real Estate - 0.8%
      
 
                       45,000
  
Forest City Enterprises, Inc., Ser. A, 7.00% (e)
      
       2,280,938
             
   
Real Estate Investment Trusts - 1.7%
        
                      200,000
  
Alexandria Real Estate Equities, Inc., Ser. D, 7.00% (e)
      
       4,660,000
             
   
Telecommunications - 3.7%
      
 
                      680,000
  
Alcatel-Lucent, Ser. ALU, 5.00%, 2015 (France)
      
       2,871,036
                         9,704
  
Lucent Technologies Capital Trust I, 7.75%, 2017 (France)
      
       7,375,040
           
     10,246,076
   
Total Convertible Preferred Stocks - 38.4%
        
   
(Cost $98,005,909)
      
   107,628,894
             
 Principal Amount
          
 Value
   
Corporate Bonds - 20.0%
        
   
Chemicals - 0.6%
        
 $                1,500,000
  
Lyondell Chemical Co., B
        
   
11.00%, 5/1/18
      
       1,621,875
             
   
Diversified Financial Services - 4.0%
        
 $                3,750,000
  
Capital One Capital V, BB
        
   
10.25%, 8/15/39
      
       4,082,813
 $                3,500,000
  
CIT Group Funding Co. of Delaware LLC, B+
      
 
   
10.25%, 5/1/14
      
       3,631,250
 $                2,000,000
  
Icahn Enterprises LP/Icahn Enterprises Finance Corp., BBB-
      
 
   
7.75%, 1/15/16
      
       2,015,000
 $                1,500,000
  
LBI Escrow Corp., BB
        
   
8.00%, 11/1/17 (b)
      
       1,580,625
           
     11,309,688
   
Food - 1.8%
        
   
Smithfield Foods, Inc., B-
        
 $                1,800,000
  
7.00%, 8/1/11
      
       1,840,500
 $                1,700,000
  
7.75%, 7/1/17
      
       1,668,125
   
Smithfield Foods, Inc., B+
        
 $                1,500,000
  
10.00%, 7/15/14 (b)
      
       1,683,750
           
       5,192,375
   
Health Care Services - 1.3%
        
 $                3,500,000
  
Apria Healthcare Group, Inc., BB+
        
   
11.25%, 11/1/14 (b)
      
       3,762,500
             
   
Holding Companies - Diversified - 1.5%
        
 $                4,000,000
  
Leucadia National Corp., BB+
        
   
8.125%, 9/15/15
      
       4,180,000
           
 
   
Insurance - 2.6%
      
 
 $                2,500,000
  
AXA SA, BBB
      
 
   
6.38%, 12/14/36 (France) (b) (d)
      
       2,012,500
 $                2,850,000
  
Liberty Mutual Group, Inc., BB
      
 
   
10.75%, 6/15/58  (b) (d)
      
       3,149,250
 $                1,700,000
  
MetLife, Inc., BBB
      
 
   
10.75%, 8/1/39
      
       2,104,949
           
       7,266,699
   
Lodging - 0.6%
        
 $                1,499,000
  
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., BB+
        
   
7.75%, 8/15/20 (b)
      
       1,527,106
           
 
   
Media - 2.8%
      
 
 $                3,406,000
  
Clear Channel Worldwide Holdings, Inc., B
      
 
   
9.25%, 12/15/17 (b)
      
       3,593,330
 $                1,500,000
  
Univision Communications, Inc., B-
      
 
   
12.00%, 7/1/14 (b)
      
       1,653,750
 $                2,500,000
  
UPC Holding BV, B-
        
   
9.875%, 4/15/18 (Netherlands) (b)
      
       2,625,000
           
       7,872,080
   
Packaging & Containers - 0.5%
        
 €                1,000,000
  
Crown European Holdings SA, BB-
        
   
7.125%, 8/15/18 (France) (b)
      
       1,325,598
           
 
   
Pharmaceuticals - 1.2%
        
 $                3,325,000
  
Axcan Intermediate Holdings, Inc., B
        
   
12.75%, 3/1/16
      
       3,399,813
           
 
   
Retail - 1.4%
      
 
 $                3,750,000
  
Toys R Us Property Co. LLC, B+
      
 
   
8.50%, 12/1/17 (b)
      
       3,965,625
           
 
   
Telecommunications - 1.7%
      
 
 $                4,905,000
  
iPCS, Inc., BB-
      
 
   
2.59%, 5/1/13 (d)
      
       4,672,012
             
   
Total Corporate Bonds - 20.0%
        
   
(Cost $53,358,543)
      
     56,095,371
             
 Number of Shares
          
 Value
   
Warrants
        
   
Banks — 3.3%
        
                   1,451,479
  
Bank of America Corp., expiring 10/28/18 (f)
      
       4,006,082
                      200,000
  
Ford Motor Co., expiring 1/1/13 (f)
      
         968,000
                      165,569
  
JP Morgan Chase & Co., expiring 10/28/18 (f)
      
       2,361,014
                      220,000
  
Wells Fargo & Co., expiring 10/28/18 (f)
      
       1,889,800
   
(Cost $8,083,458)
      
       9,224,896
             
   
Preferred Stocks - 1.7%
        
   
Banks - 1.7%
        
                         5,700
  
Ally Financial, Inc., 7.00%, 2011 (b)
      
       4,681,303
   
(Cost $4,994,625)
        
             
   
Common Stocks - 0.3%
        
   
Lodging - 0.3%
        
                   1,145,038
  
SJM Holdings Ltd. (Hong Kong)
      
       1,010,059
   
(Cost $848,648)
        
             
   
Exchange-Traded Notes - 0.2%
        
                       20,000
  
iPATH S&P 500 VIX Short-Term Futures ETN (f)
      
         451,400
   
(Cost $468,799)
        
             
   
Total Long-Term Investments - 158.1%
        
   
(Cost $420,082,855)
      
   442,929,455
             
   
Short-Term Investments - 2.9%
        
   
Money Market Funds - 2.9%
        
                   8,219,910
  
Goldman Sachs Financial Prime Obligations
        
   
(Cost $8,219,910)
      
       8,219,910
             
   
Total Investments - 161.0%
        
   
(Cost $428,302,765)
      
   451,149,365
   
Liabilities in excess of Other Assets - (0.3%)
      
      (1,011,979)
   
Preferred Stock, at redemption value - (-60.7% of Net Assets
        
   
Applicable to Common Shareholders or -37.7% of Total Investments)
    
  (170,000,000)
             
   
Net Assets Applicable to Common Shareholders — 100.0%
      
 $280,137,386
             
 AB - Stock Company
            
 AVV - Aruba Exempt Company
        
 BV - Limited Liability Company
        
 LLC - Limited Liability Corp.
        
 LP - Limited Partnership
        
 PLC - Public Limited Company
        
 Pte - Private
            
 SA - Corporation
            
 SAB de CV - Public Traded Company
        
             
 (a)   The reference entity is denominated in Chinese Yuan, but traded in U.S. dollars.
        
 (b)   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 22.9% of net assets.
      
 (c)   Security becomes an accreting bond after December 15, 2013 with a 2.00% principal accretion rate.
    
 (d)   Floating rate security. The rate shown is as of July 31, 2010.
        
 (e)   Perpetual maturity.
        
 (f)    Non-income producing security.
        
             
             
 Ratings shown are per Standard & Poor's.  Securities classified as NR are not rated by Standard & Poor's.
    
             
 All percentages shown in the Portfolio of Investments are based on Net Assets Applicable to Common Shareholders
  
 unless otherwise noted.
        
             
 See previously submitted notes to financial statements for the period ended April 30, 2010.
      
             
 Country Breakdown as % of Long-Term Investments
        
United States
  
50.0%
        
Britain
  
7.6%
        
Bermuda
  
5.7%
        
Canada
  
5.7%
        
France
  
5.1%
        
Cayman Islands
  
4.7%
        
Hong Kong
  
3.1%
        
Japan
  
2.5%
        
Germany
  
2.3%
        
Jersey
  
1.9%
        
Israel
  
1.9%
        
Ireland
  
1.9%
        
Sweden
  
1.6%
        
India
  
1.1%
        
Australia
  
1.0%
        
Mexico
  
1.0%
        
Indonesia
  
0.7%
        
South Africa
  
0.7%
        
Netherlands
  
0.6%
        
Austria
  
0.5%
        
Luxembourg
  
0.4%
        
 
 
 
 
 
 
AGC | Advent/Claymore Global Convertible Securities & Income Fund
    
Portfolio of Investments
        
July 31, 2010 (unaudited)
        
         
Forward exchange currency contracts
        
       
Unrealized
       
Appreciation/
Long Contracts
  
Current Value
  
(Depreciation)
Japanese Yen, 796,000,000 expiring 9/16/10
  
 $          9,189,106
  
 $                    (25,990)
         
       
Unrealized
       
Appreciation/
Short Contracts
  
Current Value
  
(Depreciation)
Euro, 28,900,000 expiring 9/16/10
  
 $        37,649,051
  
 $               (2,295,681)
British Pound Sterling, 9,400,000 expiring 9/16/10
  
           14,718,069
  
                     (281,599)
Japanese Yen, 1,780,000,000 expiring 9/16/10
  
           20,548,503
  
                  (1,073,668)
Swiss Franc, 5,750,000 expiring 9/16/10
  
             5,498,611
  
                     (452,095)
Australian Dollar, 5,000,000 expiring 9/16/10
  
             4,500,021
  
                           3,979 
       
                  (4,099,064)
         
Total unrealized depreciation for forward exchange currency contracts
  
 $               (4,125,054)
 
 
 
 
 
 
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
 
Net tax Unrealized
Depreciation on
Derivatives and
Foreign Currency
 $                                      429,549,273
  
 $         30,339,088
  
 $             (8,738,996)
  
 $             21,600,092
  
 $            (4,125,054)
                 
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
 
Description
  
(Level 1)
  
(Level 2)
  
(Level 3)
  
Total
(value in $000s)
                
Assets:
                
Convertible Bonds
  
 $                        -
  
 $                263,838
  
 $                            -
  
 $               263,838
Convertible Preferred Stocks:
                
Auto Manufacturers
  
                  11,990
  
                              -
  
                              -
  
                    11,990
Banks
  
                  26,010
  
                              -
  
                              -
  
                    26,010
Electric
  
                  13,260
  
                       5,140
  
                              -
  
                    18,400
Food Products
  
                           -
  
                       3,281
  
                              -
  
                      3,281
Housewares
  
                           -
  
                         922
  
                              -
  
                        922
Insurance
  
                  13,410
  
                              -
  
                              -
  
                    13,410
Oil & Gas
  
                    6,507
  
                              -
  
                              -
  
                      6,507
Pharmaceuticals
  
                    6,443
  
                              -
  
                              -
  
                      6,443
Pipelines
  
                           -
  
                       3,479
  
                              -
  
                      3,479
Real Estate
  
                           -
  
                       2,281
  
                              -
  
                      2,281
Real Estate Investment Trusts
  
                           -
  
                       4,660
  
                              -
  
                      4,660
Telecommunications
  
                    2,871
  
                       7,375
  
                              -
  
                    10,246
Corporate Bonds
  
                           -
  
                     56,095
  
                              -
  
                    56,095
Warrants
  
                    9,225
  
                              -
  
                              -
  
                      9,225
Preferred Stocks
  
                    4,681
  
                              -
  
                              -
  
                      4,681
Common Stocks
  
                    1,010
  
                              -
  
                              -
  
                      1,010
Exchange-Traded Notes
  
                       451
  
                              -
  
                              -
  
                        451
Money Market Fund
  
                    8,220
  
                              -
  
                              -
  
                      8,220
Forward Exchange Currency Contracts
  
                           -
  
                             4
  
                              -
  
                            4
Total
  
 $              104,078
  
 $                347,075
  
 $                            -
  
 $               451,153
                 
Liabilities:
                
Forward Exchange Currency Contracts
  
 $                         -
  
 $                    4,129
  
 $                            -
  
                      4,129
Total
  
 $                         -
  
 $                    4,129
  
 $                            -
  
 $                   4,129
 
 
 
 
 
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 control 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 Global Convertible Securities & 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