gug53562-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 Convertible Securities and Income Fund II
(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)

Registrant’s telephone number, including area code:  (212) 482-1600                                                                                                                     

Date of fiscal year end: October 31                                                                

Date of reporting period: November 1, 2011 - January 31, 2012
 
 
 
 
Item 1.   Schedule of Investments.
Attached hereto.
 
AGC Advent Claymore Convertible Securities and Income Fund II
Portfolio of Investments
  
January 31, 2012 (unaudited)
 
 
Principal
          
Optional Call
    
 
Amount~
  
Description
Rating*
Coupon
Maturity
Provisions**
  
Value
     
Long-Term Investments - 158.6%
            
     
Convertible Bonds - 97.1%
            
     
Advertising - 1.5%
            
 
GBP 1,900,000
  
Aegis Group Capital Jersey Ltd. (United Kingdom)
NR
2.50%
04/20/2015
N/A
  
$3,606,952
                   
     
Aerospace & Defense - 1.2%
            
 
3,000,000
  
L-3 Communications Holdings, Inc.
BB+
3.00%
08/01/2035
N/A
  
2,925,000
                   
     
Agriculture - 1.1%
            
 
HKD 21,000,000
  
Glory River Holdings Ltd. (Hong Kong)
NR
1.00%
07/29/2015
N/A
  
2,650,558
                   
     
Apparel - 1.0%
            
 
2,350,000
  
Iconix Brand Group, Inc.(a)
NR
2.50%
06/01/2016
N/A
  
2,326,500
                   
     
Auto Parts & Equipment - 1.0%
            
 
EUR 8,100,000
  
Faurecia SA, Series EO (France)
NR
4.50%
01/01/2015
N/A
  
2,395,996
                   
     
Banks - 2.0%
            
 
EUR 3,300,000
  
Kreditanstalt fuer Wiederaufbau, Series DPW (Germany)
AAA
1.50%
07/30/2014
N/A
  
4,836,087
                   
     
Biotechnology - 7.2%
            
 
6,450,000
  
Amgen, Inc., Series B
A+
0.38%
02/01/2013
N/A
  
6,683,813
 
1,750,000
  
Dendreon Corp.
NR
2.88%
01/15/2016
N/A
  
1,467,812
 
4,900,000
  
Gilead Sciences, Inc.
A-
1.00%
05/01/2014
N/A
  
5,947,375
 
3,080,000
  
Illumina, Inc.(a)
NR
0.25%
03/15/2016
N/A
  
2,960,650
                 
17,059,650
                   
     
Chemicals - 0.2%
            
 
2,840,000
  
ShengdaTech, Inc.(a) (b) (c)
NR
6.50%
12/15/2015
N/A
  
430,317
                   
     
Coal - 3.2%
            
 
6,000,000
  
Alpha Appalachia Holdings, Inc.
BB-
3.25%
08/01/2015
N/A
  
5,625,000
 
2,034,000
  
Alpha Natural Resources, Inc.
B+
2.38%
04/15/2015
N/A
  
1,901,790
                 
7,526,790
                   
     
Computers - 5.1%
            
 
EUR 5,000,000
  
AtoS, Series ATO (France)
NR
2.50%
01/01/2016
N/A
  
3,384,902
 
1,050,000
  
EMC Corp., Series B
A-
1.75%
12/01/2013
N/A
  
1,745,625
 
EUR 6,000,000
  
Ingenico, Series ING (France)
NR
2.75%
01/01/2017
N/A
  
3,433,396
 
2,750,000
  
NetApp, Inc.
NR
1.75%
06/01/2013
N/A
  
3,568,125
                 
12,132,048
                   
     
Diversified Financial Services - 5.5%
            
 
GBP 2,200,000
  
Aberdeen Asset Management PLC, Series ADN (United Kingdom)
NR
3.50%
12/17/2014
N/A
  
4,621,509
 
1,400,000
  
Affiliated Managers Group, Inc.
BBB-
3.95%
08/15/2038
08/15/13 @ 100
  
1,538,250
 
HKD 26,350,000
  
Power Regal Group Ltd. (Hong Kong)
NR
2.25%
06/02/2014
N/A
  
4,026,662
 
4,650,000
  
QBE Funding Trust (Australia)(d)
A
0.00%
05/12/2030
05/12/13 @ 100
  
2,873,700
                 
13,060,121
                   
     
Engineering & Construction - 2.5%
            
 
2,725,000
  
Jaiprakash Associates Ltd. (India)(d)
NR
0.00%
09/12/2012
N/A
  
3,501,625
 
2,500,000
  
Larsen & Toubro Ltd. (India)
NR
3.50%
10/22/2014
N/A
  
2,521,250
                 
6,022,875
                   
     
Health Care Products - 5.7%
            
 
1,500,000
  
Hologic, Inc., Series 2010(e)
BB+
2.00%
12/15/2037
12/15/16 @ 100
  
1,786,875
 
6,582,000
  
Hologic, Inc.(f) (g)
BB+
2.00%
12/15/2037
12/15/13 @ 100
  
6,458,587
 
5,225,000
  
Medtronic, Inc., Series B
AA-
1.63%
04/15/2013
N/A
  
5,322,969
                 
13,568,431
                   
     
Health Care Services - 0.9%
            
 
1,860,000
  
Lincare Holdings, Inc., Series B
NR
2.75%
11/01/2037
11/01/14 @ 100
  
2,062,275
                   
     
Home Builders - 0.7%
            
 
1,450,000
  
Lennar Corp.(a)
B+
2.75%
12/15/2020
12/20/15 @ 100
  
1,765,375
                   
     
Insurance - 1.4%
            
 
EUR 385,000
  
AXA SA, Series CS (France)
BBB+
3.75%
01/01/2017
N/A
  
1,185,383
 
2,000,000
  
Old Republic International Corp.
BBB+
8.00%
05/15/2012
N/A
  
2,035,000
                 
3,220,383
                   
     
Internet - 3.0%
            
 
4,000,000
  
Digital River, Inc.
NR
2.00%
11/01/2030
11/01/15 @ 100
  
3,575,000
 
4,000,000
  
WebMD Health Corp.(a)
NR
2.50%
01/31/2018
N/A
  
3,480,000
                 
7,055,000
                   
     
Investment Companies - 1.3%
            
 
1,200,000
  
Billion Express Investments Ltd. (Hong Kong)
NR
0.75%
10/18/2015
N/A
  
1,320,000
 
SGD 2,000,000
  
Temasek Financial III Pte Ltd., Series REGS (Singapore)(d)
NR
0.00%
10/24/2014
N/A
  
1,689,732
                 
3,009,732
                   
     
Iron & Steel - 2.8%
            
 
1,250,000
  
Allegheny Technologies, Inc.
BBB-
4.25%
06/01/2014
N/A
  
1,698,438
 
EUR 156,000
  
Arcelormittal, Series MT (Luxembourg)
BBB-
7.25%
04/01/2014
N/A
  
4,886,807
                 
6,585,245
                   
     
Leisure Time - 3.0%
            
 
GBP 4,600,000
  
TUI Travel PLC (United Kingdom)
NR
6.00%
10/05/2014
N/A
  
6,990,451
                   
     
Lodging - 2.4%
            
 
850,000
  
Gaylord Entertainment Co.(a)
NR
3.75%
10/01/2014
N/A
  
1,037,000
 
4,500,000
  
MGM Resorts International
B-
4.25%
04/15/2015
N/A
  
4,770,000
                 
5,807,000
                   
     
Metal Fabricate & Hardware - 1.4%
            
 
EUR 2,400,000
  
Kloeckner & Co. Financial Services SA, Series KCO (Germany)
B+
6.00%
06/09/2014
N/A
  
3,255,606
                   
     
Mining - 5.9%
            
 
3,550,000
  
AngloGold Ashanti Holdings Finance PLC (South Africa)(a)
NR
3.50%
05/22/2014
N/A
  
4,140,188
 
3,885,000
  
Goldcorp, Inc. (Canada)
BBB+
2.00%
08/01/2014
N/A
  
5,001,937
 
2,000,000
  
Newmont Mining Corp., Series A
BBB+
1.25%
07/15/2014
N/A
  
2,855,000
 
2,100,000
  
Vedanta Resources Jersey Ltd. (United Kingdom)
BB
5.50%
07/13/2016
N/A
  
1,866,900
                 
13,864,025
                   
     
Miscellaneous Manufacturing - 1.1%
            
 
2,500,000
  
Trinity Industries, Inc.
BB-
3.88%
06/01/2036
06/01/18 @ 100
  
2,521,875
                   
     
Oil & Gas - 5.7%
            
 
3,590,000
  
Chesapeake Energy Corp.
BB+
2.50%
05/15/2037
05/15/17 @ 100
  
3,154,713
 
HKD 15,000,000
  
China Petroleum & Chemical Corp., Series SINO (China)(d)
NR
0.00%
04/24/2014
N/A
  
2,297,053
 
4,500,000
  
Lukoil International Finance BV (Russia)
BBB-
2.63%
06/16/2015
N/A
  
4,759,875
 
2,900,000
  
Premier Oil Finance Jersey Ltd., Series PMO (United Kingdom)
NR
2.88%
06/27/2014
N/A
  
3,371,250
                 
13,582,891
                   
     
Oil & Gas Services - 3.2%
            
 
3,000,000
  
Subsea 7 SA, Series ACY (Luxembourg)
NR
2.25%
10/11/2013
N/A
  
3,382,500
 
EUR 3,400,000
  
Technip SA, Series TEC (France)
BBB+
0.50%
01/01/2016
N/A
  
4,086,598
                 
7,469,098
                   
     
Packaging & Containers - 0.7%
            
 
1,600,000
  
Owens-Brockway Glass Container, Inc.(a)
BB
3.00%
06/01/2015
N/A
  
1,576,000
                   
     
Pharmaceuticals - 5.9%
            
 
5,498,000
  
Omnicare, Inc., Series OCR
B+
3.25%
12/15/2035
12/15/15 @ 100
  
5,264,335
 
1,543,000
  
Salix Pharmaceuticals Ltd.
NR
2.75%
05/15/2015
N/A
  
2,017,472
 
JPY 275,000,000
  
Sawai Pharmaceutical Co. Ltd. (Japan)(d)
NR
0.00%
09/17/2015
N/A
  
3,820,369
 
2,500,000
  
Shire PLC, Series SHP (Channel Islands)
NR
2.75%
05/09/2014
N/A
  
2,892,500
                 
13,994,676
                   
     
Real Estate Investment Trusts - 6.0%
            
 
1,300,000
  
Annaly Capital Management, Inc.
NR
4.00%
02/15/2015
N/A
  
1,543,750
 
AUD 3,300,000
  
Commonwealth Property Office Fund (Australia)
A-
5.25%
12/11/2016
N/A
  
3,571,605
 
2,300,000
  
Health Care REIT, Inc.
BBB-
3.00%
12/01/2029
12/01/14 @ 100
  
2,725,500
 
2,865,000
  
Northstar Realty Finance LP(a)
NR
7.50%
03/15/2031
03/15/16 @ 100
  
2,671,613
 
3,250,000
  
SL Green Operating Partnership LP(a)
BB+
3.00%
10/15/2017
N/A
  
3,583,125
                 
14,095,593
                   
     
Retail - 2.2%
            
 
5,650,000
  
RadioShack Corp.(a)
Ba3
2.50%
08/01/2013
N/A
  
5,325,125
                   
     
Semiconductors - 4.0%
            
 
6,224,000
  
Advanced Micro Devices, Inc.
B+
6.00%
05/01/2015
N/A
  
6,356,260
 
3,000,000
  
Lam Research Corp.(a)
BB+
0.50%
05/15/2016
N/A
  
3,048,750
                 
9,405,010
                   
     
Software - 1.3%
            
 
GBP 1,700,000
  
Misys PLC (United Kingdom)
NR
2.50%
11/22/2015
N/A
  
3,027,412
                   
     
Telecommunications - 7.0%
            
 
6,125,000
  
Alcatel-Lucent USA, Inc., Series B (France)
B
2.88%
06/15/2025
06/20/13 @ 100
  
5,627,344
 
GBP 3,200,000
  
Cable & Wireless Worldwide PLC (United Kingdom)
NR
5.75%
11/24/2014
N/A
  
4,620,534
 
3,000,000
  
Ciena Corp.(a)
NR
4.00%
03/15/2015
N/A
  
3,202,500
 
JPY 210,000,000
  
Softbank Corp. (Japan)
BBB-
1.50%
03/31/2013
N/A
  
3,094,615
                 
16,544,993
                   
     
Total Convertible Bonds - 97.1%
            
     
(Cost $229,081,956)
          
229,699,090
                   
     
Corporate Bonds - 50.5%
            
     
Advertising - 0.6%
            
 
1,250,000
  
Lamar Media Corp.
BB-
7.88%
04/15/2018
04/15/14 @ 104
  
1,371,875
                   
     
Auto Manufacturers - 0.2%
            
 
500,000
  
Chrysler Group, LLC/CG Co.-Issuer, Inc.(a)
B
8.25%
06/15/2021
06/15/16 @ 104
  
480,000
                   
     
Auto Parts & Equipment - 1.9%
            
 
2,250,000
  
Dana Holding Corp.
BB-
6.50%
02/15/2019
02/15/15 @ 103
  
2,404,687
 
250,000
  
Goodyear Tire & Rubber Co.
B+
8.25%
08/15/2020
08/15/15 @ 104
  
273,125
 
1,697,000
  
TRW Automotive, Inc.(a)
BB+
8.88%
12/01/2017
12/01/13 @ 104
  
1,883,670
                 
4,561,482
                   
     
Banks - 1.4%
            
 
750,000
  
Banco do Estado do Rio Grande do Sul (Brazil)(a)
Ba1
7.38%
02/02/2022
N/A
  
772,785
 
2,500,000
  
Capital One Capital V(h)
BB+
10.25%
08/15/2039
N/A
  
2,631,250
                 
3,404,035
                   
     
Beverages - 0.6%
            
 
1,275,000
  
Constellation Brands, Inc.
BB+
7.25%
09/01/2016
N/A
  
1,437,563
                   
     
Building Materials - 0.3%
            
 
750,000
  
Masco Corp.
BBB-
7.13%
03/15/2020
N/A
  
772,986
                   
     
Chemicals - 1.8%
            
 
1,000,000
  
CF Industries, Inc.
BB+
6.88%
05/01/2018
N/A
  
1,162,500
 
500,000
  
Chevron Phillips Chemical Co., LLC/LP(a)
BBB
4.75%
02/01/2021
11/01/20 @ 100
  
570,688
 
500,000
  
Hexion US Finance Corp. / Hexion Nova Scotia Finance ULC
CCC+
8.88%
02/01/2018
02/01/14 @ 104
  
501,250
 
1,147,928
  
Lyondell Chemical Co.
BB+
11.00%
05/01/2018
05/01/13 @ 100
  
1,262,721
 
875,000
  
Vertellus Specialties, Inc.(a)
B
9.38%
10/01/2015
04/01/13 @ 105
  
656,250
                 
4,153,409
                   
     
Coal - 0.7%
            
 
1,500,000
  
Alpha Natural Resources, Inc.
BB
6.25%
06/01/2021
06/01/16 @ 103
  
1,492,500
 
50,000
  
Peabody Energy Corp.(a)
BB+
6.00%
11/15/2018
N/A
  
51,750
 
50,000
  
Peabody Energy Corp.(a)
BB+
6.25%
11/15/2021
N/A
  
51,750
                 
1,596,000
                   
     
Commercial Services - 0.1%
            
 
250,000
  
Neff Rental, LLC/Neff Finance Corp.(a)
B-
9.63%
05/15/2016
05/15/13 @ 107
  
236,250
                   
     
Computers - 3.4%
            
 
7,147,000
  
Seagate HDD Cayman (Ireland)
BB+
7.75%
12/15/2018
12/15/14 @ 104
  
7,951,037
                   
     
Diversified Financial Services - 4.1%
            
 
4,422,000
  
Ford Motor Credit Co., LLC
BB+
12.00%
05/15/2015
N/A
  
5,549,610
 
1,250,000
  
International Lease Finance Corp.
BBB-
8.25%
12/15/2020
N/A
  
1,337,500
 
750,000
  
Marfrig Holding Europe BV (Netherlands)(a)
B+
8.38%
05/09/2018
N/A
  
633,750
 
3,000,000
  
Textron Financial Corp.(a) (i)
B
6.00%
02/15/2067
02/15/17 @ 100
  
2,295,000
                 
9,815,860
                   
     
Electric - 1.4%
            
 
2,150,000
  
AES Corp.
BB-
7.75%
10/15/2015
N/A
  
2,375,750
 
750,000
  
AES Corp.(a)
BB-
7.38%
07/01/2021
N/A
  
832,500
                 
3,208,250
                   
     
Entertainment - 0.1%
            
 
350,000
  
Mohegan Tribal Gaming Authority
CC
6.13%
02/15/2013
03/05/12 @ 100
  
288,750
                   
     
Food - 2.3%
            
 
523,000
  
Bumble Bee Acquisition Corp.(a)
B
9.00%
12/15/2017
12/15/14 @ 105
  
541,305
 
EUR 2,025,000
  
Campofrio Food Group SA, Series REGS (Spain)
BB-
8.25%
10/31/2016
10/31/13 @ 104
  
2,756,859
 
500,000
  
Del Monte Corp.
CCC+
7.63%
02/15/2019
02/15/14 @ 104
  
494,375
 
1,000,000
  
Land O'Lakes Capital Trust I(a)
BB
7.45%
03/15/2028
N/A
  
960,000
 
300,000
  
Post Holdings, Inc.(a)
B1
7.38%
02/15/2022
02/15/17 @ 104
  
311,250
 
EUR 400,000
  
R&R Ice Cream PLC (United Kingdom)(a)
B+
8.38%
11/15/2017
11/15/13 @ 106
  
505,293
                 
5,569,082
                   
     
Forest Products & Paper - 0.2%
            
 
500,000
  
AbitibiBowater, Inc.(a)
BB-
10.25%
10/15/2018
10/15/14 @ 105
  
566,250
                   
     
Health Care Products - 0.3%
            
 
910,000
  
Rotech Healthcare, Inc.
B
10.50%
03/15/2018
03/15/15 @ 105
  
718,900
                   
     
Health Care Services - 3.5%
            
 
2,500,000
  
Apria Healthcare Group, Inc.
BB+
11.25%
11/01/2014
11/01/12 @ 103
  
2,621,875
 
750,000
  
Capella Healthcare, Inc.
B
9.25%
07/01/2017
07/01/13 @ 107
  
766,875
 
500,000
  
CHS/Community Health Systems, Inc.(a)
B
8.00%
11/15/2019
11/15/15 @ 104
  
514,375
 
1,875,000
  
HCA, Inc.
B-
5.75%
03/15/2014
N/A
  
1,947,656
 
500,000
  
IASIS Healthcare, LLC / IASIS Capital Corp.
CCC+
8.38%
05/15/2019
05/15/14 @ 106
  
483,750
 
250,000
  
Select Medical Corp.
CCC+
7.63%
02/01/2015
02/01/13 @ 100
  
248,750
 
700,000
  
Select Medical Holdings Corp.(i)
CCC+
6.27%
09/15/2015
03/05/12 @ 100
  
629,125
 
1,000,000
  
Tenet Healthcare Corp.
CCC+
8.00%
08/01/2020
08/01/15 @ 104
  
1,037,500
                 
8,249,906
                   
     
Holding Companies-Diversified - 0.7%
            
 
1,500,000
  
Leucadia National Corp.(h)
BB+
8.13%
09/15/2015
N/A
  
1,620,000
                   
     
Home Builders - 0.1%
            
 
380,000
  
Beazer Homes USA, Inc.
CCC
8.13%
06/15/2016
N/A
  
330,600
                   
     
Household Products & Housewares - 2.1%
            
 
1,250,000
  
Reynolds Group Issuer, Inc.(a)
BB-
7.13%
04/15/2019
10/15/14 @ 104
  
1,318,750
 
1,250,000
  
Reynolds Group Issuer, Inc.(a)
B-
9.88%
08/15/2019
08/15/15 @ 105
  
1,278,125
 
100,000
  
Spectrum Brands Holdings, Inc.(a)
B
9.50%
06/15/2018
06/15/14 @ 105
  
113,875
 
1,500,000
  
Spectrum Brands Holdings, Inc.
B
9.50%
06/15/2018
06/15/14 @ 105
  
1,708,125
 
500,000
  
Yankee Candle Co., Inc., Series B
CCC+
9.75%
02/15/2017
02/15/13 @ 103
  
503,750
                 
4,922,625
                   
     
Insurance - 1.4%
            
 
2,600,000
  
Liberty Mutual Group, Inc.(a) (i)
BB
10.75%
06/15/2058
06/15/38 @ 100
  
3,341,000
                   
     
Iron & Steel - 0.5%
            
 
500,000
  
Edgen Murray Corp.
B-
12.25%
01/15/2015
01/15/13 @ 106
  
467,500
 
600,000
  
Optima Specialty Steel, Inc.(a)
B
12.50%
12/15/2016
12/15/14 @ 106
  
618,000
                 
1,085,500
                   
     
Lodging - 2.5%
            
 
250,000
  
Caesars Entertainment Operating Co., Inc.
CCC
10.00%
12/15/2018
12/15/13 @ 105
  
194,375
 
1,250,000
  
Marina District Finance Co., Inc.
BB-
9.88%
08/15/2018
08/15/14 @ 105
  
1,175,000
 
500,000
  
MGM Resorts International
B-
7.63%
01/15/2017
N/A
  
500,000
 
350,000
  
MTR Gaming Group, Inc.(a)
B-
11.50%
08/01/2019
08/01/15 @ 106
  
322,000
 
1,800,000
  
Starwood Hotels & Resorts Worldwide, Inc.
BB+
6.75%
05/15/2018
N/A
  
2,074,500
 
1,428,000
  
Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp.
BBB-
7.75%
08/15/2020
08/15/15 @ 104
  
1,620,780
                 
5,886,655
                   
     
Machinery-Diversified - 0.6%
            
 
1,250,000
  
Case New Holland, Inc.
BB+
7.88%
12/01/2017
N/A
  
1,446,875
                   
     
Media - 2.6%
            
 
1,000,000
  
CCO Holdings, LLC/CCO Holdings Capital Corp.
BB-
6.50%
04/30/2021
04/30/15 @ 105
  
1,045,000
 
402,000
  
Clear Channel Worldwide Holdings, Inc., Series B
B
9.25%
12/15/2017
12/15/12 @ 107
  
445,215
 
2,622,000
  
DISH DBS Corp.
BB-
7.13%
02/01/2016
N/A
  
2,890,755
 
750,000
  
Univision Communications, Inc.(a)
CCC+
8.50%
05/15/2021
11/15/15 @ 104
  
731,250
 
980,000
  
XM Satellite Radio, Inc.(a)
BB
7.63%
11/01/2018
11/01/14 @ 104
  
1,054,725
                 
6,166,945
                   
     
Mining - 0.9%
            
 
500,000
  
FMG Resources August 2006 Pty Ltd. (Australia)(a)
B+
6.88%
02/01/2018
02/01/14 @ 105
  
511,250
 
1,500,000
  
FMG Resources August 2006 Pty Ltd. (Australia)(a)
B+
8.25%
11/01/2019
11/01/15 @ 104
  
1,616,250
                 
2,127,500
                   
     
Oil & Gas - 2.6%
            
 
1,000,000
  
Alta Mesa Holdings, LP/Alta Mesa Finance Services Corp.
B
9.63%
10/15/2018
10/15/14 @ 105
  
945,000
 
500,000
  
Carrizo Oil & Gas, Inc.
B-
8.63%
10/15/2018
10/15/14 @ 104
  
505,000
 
750,000
  
Energy XXI Gulf Coast, Inc.
B
9.25%
12/15/2017
12/15/14 @ 105
  
823,125
 
500,000
  
Hercules Offshore, Inc.(a)
B-
10.50%
10/15/2017
10/15/13 @ 105
  
502,500
 
500,000
  
Petrohawk Energy Corp.
BBB+
7.25%
08/15/2018
08/15/14 @ 104
  
572,500
 
600,000
  
Plains Exploration & Production Co.
BB
6.75%
02/01/2022
02/01/17 @ 103
  
655,500
 
1,410,000
  
Tesoro Corp.
BB+
9.75%
06/01/2019
06/01/14 @ 105
  
1,603,875
 
500,000
  
United Refining Co.
B
10.50%
02/28/2018
02/28/15 @ 105
  
470,000
                 
6,077,500
                   
     
Oil & Gas Services - 0.5%
            
 
350,000
  
Green Field Energy Services, Inc.(a)
CCC+
13.00%
11/15/2016
11/15/14 @ 110
  
346,500
 
750,000
  
Stallion Oilfield Holdings Ltd.
B
10.50%
02/15/2015
02/15/13 @ 105
  
813,750
                 
1,160,250
                   
     
Packaging & Containers - 0.4%
            
 
1,000,000
  
Sealed Air Corp.(a)
BB
6.88%
07/15/2033
N/A
  
940,250
                   
     
Pharmaceuticals - 2.2%
            
 
825,000
  
Aptalis Pharma, Inc.
B
12.75%
03/01/2016
03/01/13 @ 103
  
882,750
 
500,000
  
Endo Pharmaceuticals Holdings, Inc.
BB-
7.25%
01/15/2022
07/15/16 @ 104
  
553,125
 
2,856,000
  
Omnicare, Inc.
BB
7.75%
06/01/2020
06/01/15 @ 104
  
3,177,300
 
500,000
  
Valeant Pharmaceuticals International(a)
BB-
7.25%
07/15/2022
07/15/16 @ 104
  
508,750
                 
5,121,925
                   
     
Pipelines - 0.2%
            
 
500,000
  
Eagle Rock Energy Partners, LP/Eagle Rock Energy Finance Corp.(a)
B-
8.38%
06/01/2019
06/01/15 @ 104
  
512,500
                   
     
Real Estate - 0.2%
            
 
500,000
  
Kennedy-Wilson, Inc.(a)
BB-
8.75%
04/01/2019
04/01/15 @ 104
  
506,250
                   
     
Real Estate Investment Trusts - 1.1%
            
 
2,435,000
  
Rouse Co., LP
BB+
6.75%
11/09/2015
05/09/13 @ 103
  
2,532,400
                   
     
Retail - 2.0%
            
 
175,000
  
Bon-Ton Department Stores, Inc.
CCC+
10.25%
03/15/2014
03/15/12 @ 100
  
111,563
 
1,000,000
  
Burlington Coat Factory Warehouse Corp.
Caa1
10.00%
02/15/2019
02/15/15 @ 105
  
955,000
 
500,000
  
Fiesta Restaurant Group(a)
B
8.88%
08/15/2016
02/15/14 @ 104
  
512,500
 
350,000
  
Landry's Acquisition Co.(a)
B
11.63%
12/01/2015
12/01/12 @ 106
  
377,125
 
500,000
  
Needle Merger Sub Corp.(a)
CCC+
8.13%
03/15/2019
03/15/14 @ 104
  
488,125
 
300,000
  
Rite AID Corp.
CCC
9.38%
12/15/2015
06/15/12 @ 102
  
303,750
 
500,000
  
Rite AID Corp.
B+
9.75%
06/12/2016
06/12/13 @ 105
  
551,250
 
1,250,000
  
Toys "R" Us Property Co. II, LLC
B+
8.50%
12/01/2017
12/01/13 @ 104
  
1,345,312
                 
4,644,625
                   
     
Software - 0.1%
            
 
250,000
  
Emdeon, Inc.(a)
Caa1
11.00%
12/31/2019
12/31/15 @ 106
  
271,250
                   
     
Storage & Warehousing - 0.2%
            
 
425,000
  
Niska Gas Storage US, LLC/Niska Gas Storage Canada ULC
BB-
8.88%
03/15/2018
03/15/14 @ 104
  
410,656
                   
     
Telecommunications - 6.1%
            
 
EUR 4,000,000
  
Alcatel-Lucent (France)
B
8.50%
01/15/2016
N/A
  
4,791,121
 
500,000
  
Level 3 Communications, Inc.
CCC
11.88%
02/01/2019
02/01/15 @ 106
  
547,500
 
1,200,000
  
NII Capital Corp.
B+
7.63%
04/01/2021
04/01/16 @ 104
  
1,236,000
 
1,275,000
  
SBA Telecommunications, Inc.
B+
8.00%
08/15/2016
08/15/12 @ 106
  
1,386,563
 
1,000,000
  
UPC Holding BV (Netherlands)(a)
B-
9.88%
04/15/2018
04/15/14 @ 105
  
1,092,500
 
3,415,000
  
Virgin Media Finance PLC (United Kingdom)
BB-
8.38%
10/15/2019
10/15/14 @ 104
  
3,841,875
 
EUR 500,000
  
Wind Acquisition Finance SA (Luxembourg)(a)
BB-
11.75%
07/15/2017
07/15/13 @ 106
  
600,592
 
1,000,000
  
Windstream Corp.(a)
B+
7.50%
06/01/2022
06/01/17 @ 104
  
1,052,500
                 
14,548,651
                   
     
Transportation - 0.6%
            
 
1,000,000
  
Navios Maritime Holdings, Inc./Navios Maritime Finance US, Inc. (Marshall Island)
BB-
8.88%
11/01/2017
11/01/13 @ 104
  
995,000
 
500,000
  
Ship Finance International Ltd. (Bermuda)
B+
8.50%
12/15/2013
03/05/12 @ 100
  
481,250
                 
1,476,250
                   
     
Total Corporate Bonds - 50.5%
            
     
(Cost $115,926,588)
          
119,511,842
                   
     
Term Loans - 0.7%(j)
            
 
750,000
  
Media General, Inc.(i)
NR
4.76%
03/29/2013
N/A
  
696,875
 
1,000,000
  
Revel Entertainment
NR
9.00%
02/17/2017
N/A
  
966,250
     
(Cost $1,519,174)
          
1,663,125
                   
 
Number
                
 
of Shares
  
Description
          
Value
     
Convertible Preferred Stocks - 5.4%
            
     
Auto Manufacturers - 1.0%
            
 
56,500
  
General Motors Co., Series B
B+
4.75%
12/01/2013
    
2,263,390
                   
     
Banks - 0.5%
            
 
1,416
  
Bank of America Corp., Series L (k)
BB+
7.25%
-
    
1,304,802
                   
     
Electric - 0.4%
            
 
18,700
  
PPL Corp.
NR
8.75%
05/01/2014
    
982,872
                   
     
Hand & Machine Tools - 0.4%
            
 
7,900
  
Stanley Black & Decker, Inc.
BBB+
4.75%
11/17/2015
    
933,701
                   
     
Insurance - 2.0%
            
 
69,750
  
MetLife, Inc.
BBB-
5.00%
09/11/2013
    
4,778,572
                   
     
Oil & Gas - 1.1%
            
 
44,500
  
Apache Corp., Series D
BBB+
6.00%
08/01/2013
    
2,555,635
                   
     
Total Convertible Preferred Stocks - 5.4%
            
     
(Cost $11,811,163)
          
12,818,972
                   
     
Common Stocks - 4.9%
            
     
Banks - 1.6%
            
 
100,000
  
JPMorgan Chase & Co.
          
3,730,000
                   
     
Beverages - 0.8%
            
 
28,000
  
PepsiCo, Inc.
          
1,838,760
                   
     
Internet - 0.4%
            
 
57,500
  
Symantec Corp.(l)
          
988,425
                   
     
Miscellaneous Manufacturing - 0.8%
            
 
20,000
  
Siemens AG (Germany)
          
1,888,697
                   
     
Oil & Gas - 0.5%
            
 
18,500
  
Diamond Offshore Drilling, Inc.
          
1,152,550
                   
     
Pharmaceuticals - 0.8%
            
 
50,000
  
Sanofi, ADR (France)
          
1,856,500
                   
     
Total Common Stocks - 4.9%
            
     
(Cost $10,747,708)
          
11,454,932
                   
     
Warrants - 0.0%
            
 
350
  
Greenfield Energy Service (l)
    
11/15/2021
    
21,350
     
(Cost $13,645)
            
                   
     
Total Long-Term Investments - 158.6%
            
     
(Cost $369,100,234)
          
375,169,311
                   
                   
 
Contracts
  
Options Purchased
  
Expiration
Date
Exercise
Price
    
Value
     
Put Options Purchased (l) - 0.5%
            
 
1,457
  
Chesapeake Energy Corp.
  
April 2012
$17.00
    
58,280
 
2,444
  
Jefferies Group, Inc.
  
February 2012
$14.00
    
73,320
 
800
  
Jefferies Group, Inc.
  
April 2012
$14.00
    
76,000
 
4,730
  
SPDR S&P 500 ETF Trust
  
March 2012
$127.00
    
960,190
     
(Cost $1,340,216)
          
1,167,790
                   
                   
     
Short-Term Investments - 14.1%
            
                   
 
Number
                
 
of Shares
  
Description
          
Value
     
Money Market - 14.1%
            
 
33,333,698
  
Goldman Sachs Financial Prime Obligations
          
33,333,698
     
(Cost $33,333,698)
            
                   
     
Total Investments - 173.2%
            
     
(Cost $403,774,148)
          
409,670,799
     
Liabilities in excess of Other Assets - (0.4%)
          
(871,829)
     
Total value of Options Written - (1.0%) (Premiums received $1,980,960)
          
(2,275,025)
     
Preferred Shares, at redemption value - (-71.8% of Net Assets Applicable to Common Shareholders or -41.5% of Total Investments)
          
(170,000,000)
     
Net Assets Applicable to Common Shareholders - 100.0%
          
$236,523,945
                   

 
 
ADR - American Depositary Receipt
AG - Stock Corporation
    
BV - Limited Liability Company
    
LLC - Limited Liability Company
  
LP - Limited Partnership
    
N/A- Not Applicable
    
PLC - Public Limited Company
    
Pte - Public Trading Enterprise (LCM)
Pte Ltd - Private Limited
    
Pty - Propriety
    
SA - Corporation
    
S&P - Standard & Poor's
    
ULC - Unlimited Liability Company
  
 
 
*
Ratings shown are per Standard & Poor's, Moody's or Fitch.  Securities classified as NR are not rated. (For securities not rated by Standard & Poor's Rating Group, the rating by Moody's Investor Services, Inc. is provided.  Likewise, for securities not rated by Standard & Poor's Rating Group and Moody's Investor Services, Inc., the rating by Fitch Ratings is provided.)  All 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.
**
Date and price of the earliest optional call or put provision. There may be other call provisions at varying prices at later dates.
 
All percentages shown in the Portfolio of Investments are based on Net Assets Applicable to Common Shareholders, unless otherwise noted.
(a)
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, 2012 these securities amounted to $66,026,576, which represents 27.9% of net assets applicable to common shares.
(b)
Non-income producing as security is in default.
(c)
Security is valued in accordance with Fair Valuation procedures established in good faith by the Board of Trustees. The total market value of such securities is $430,317 which represents 0.2% of net assets applicable to common shares.
(d)
Zero coupon bond.
    
(e)
Security becomes an accreting bond after December 15, 2016 with a 2.00% principal accretion rate.
(f)
Security becomes an accreting bond after December 15, 2013 with a 2.00% principal accretion rate.
(g)
Security is a "step-coupon" bond where the coupon increases or decreases at a predetermined date.  At January 31, 2012, the rate shown reflects the rate in effect at the end of the reporting period.
(h)
All or a portion of these securities have been physically segregated in connection with forward exchange currency contracts.  As of January 31, 2012, the total amount segregated was $4,251,250.
(i)
Floating or variable rate coupon.  The rate shown is as of January 31, 2012.
(j)
Term loans held by the Fund have a variable interest rate feature which is periodically adjusted based on an underlying interest rate benchmark.  In addition, term loans may include mandatory and/or optional prepayment terms.  As a result, the actual maturity dates of the loan may be different than the amounts disclosed in the portfolio of investments.  Term loans may be considered restricted in that the Fund may be contractually obligated to secure approval from the Agent Bank and/or Borrower prior to the sale or disposition of loan.
(k)
Security is perpetual and, thus does not have a predetermined maturity date.  The coupon rate shown is in effect as of January 31, 2012.
(l)
Non-income producing security.
 
 
Contracts (100 shares per contract)
Expiration Month
  
Exercise Price
    
Value
  
   
Call Options Written (l)
              
  1,670  
Chesapeake Energy Corp.
January 2013
   $ 30.00     $ (165,330 )
  185  
Diamond Offshore Drilling, Inc.
June 2012
     66.75       (33,855 )
  800  
General Motors Co.
January 2013
     30.00       (103,200 )
  1,000  
JPMorgan Chase & Co.
January 2013
     37.00       (435,000 )
  1,366  
MetLife, Inc.
January 2013
     35.00       (710,320 )
  280  
PepsiCo, Inc.
July 2012
     67.50       (42,840 )
  500  
Sanofi
March 2012
     38.00       (32,500 )
  562  
Symantec Corp.
January 2013
     17.50       (103,970 )
     
Premiums Received ($1,281,348)
               (1,627,015 )
                         
     
Put Options Written (l)
                  
  4,730  
SPDR S&P 500 ETF Trust
March 2012
   $ 124.00       (648,010 )
     
Premiums Received ($699,612)
                  
                         
     
Total Value of Options Written
             $ (2,275,025 )
     
Premiums Received ($1,980,960)
                  
 
 
Country Breakdown as % of Long-Term Investments
United States
  
61.9%
United Kingdom
  
8.6%
France
  
7.1%
Germany
  
2.7%
Luxembourg
  
2.4%
Australia
  
2.3%
Hong Kong
  
2.1%
Ireland
  
2.1%
Japan
  
1.8%
India
  
1.6%
Canada
  
1.3%
Russia
  
1.3%
South Africa
  
1.1%
Channel Islands
  
0.8%
Spain
  
0.7%
China
  
0.6%
Netherlands
  
0.5%
Singapore
  
0.5%
Marshall Islands
  
0.3%
Brazil
  
0.2%
Bermuda
  
0.1%
 
See previously submitted notes to financial statements for the period ended October 31, 2011.
 
 
 
 
 
 
AGC Advent Claymore Convertible Securities and Income Fund II
    
Portfolio of Investments
    
January 31, 2012 (unaudited)
    
 
Forward exchange currency contracts
                    
                             
   
Contracts to Buy
  
Counterparty
Settlement Date
  
Settlement Value
    
Value at 1/31/12
    
Net Unrealized Depreciation
  
EUR
     391,258                        
for USD
     517,126  
The Bank of New York Mellon
2/3/2012
     517,126       512,179     $ (4,947 )
                                     
                                     
   
Contracts to Sell
  
Counterparty
Settlement Date
  
Settlement Value
    
Value at 1/31/12
    
Net Unrealized Depreciation
  
AUD
     3,200,000                              
for USD
     3,145,696  
The Bank of New York Mellon
3/16/2012
     3,145,696       3,384,115     $ (238,419 )
                                     
EUR
     14,280                              
for USD
     18,685  
The Bank of New York Mellon
2/2/2012
     18,685       18,693       (8 )
                                     
EUR
     31,812,000                              
for USD
     41,375,721  
The Bank of New York Mellon
3/16/2012
     41,375,721       41,647,984       (272,262 )
                                     
GBP
     15,600,000                              
for USD
     24,096,540  
The Bank of New York Mellon
3/16/2012
     24,096,540       24,608,784       (512,244 )
                                     
HKD
     105,000                              
for USD
     13,534  
The Bank of New York Mellon
2/1/2012
     13,534       13,541       (7 )
                                  (1,022,940 )
                                     
                Total unrealized depreciation for forward exchange currency contracts     $ (1,027,887 )
                                     
 
 
 
 
 
AGC Advent Claymore Convertible Securities and Income Fund II
Portfolio of Investments
      
January 31, 2012 (unaudited)
      
 
Credit Default Swap Agreements
                          
Counterparty
Reference Entity
Buy/Sell
Protection
Termination
Date
Implied Credit
Spread at
January 31,
2012(1)
  
Notional
Amount
 (000)
  
Paying/
(Receiving)
Fixed Rate
  
Upfront
Premium
Received (Paid)
  
Unrealized
Appreciation/
(Depreciation)
  
Citigroup
France Republic
Buy
3/20/2017
   1.85 % $ 4,080     0.25 % $ (404,064 ) $ (97,396 )
                                     
                                     
Interest Rate Swap Agreements
                                    
Counterparty
Floating Rate
      
Termination
Date
  
Notional
Amount
(000)
  
Pay Fixed Rate
  
Unrealized
Appreciation/
(Depreciation)
  
Bank of America Merrill Lynch(2)
1 Month LIBOR + 90bps
      
12/13/2016
   $ 60,528     2.15 % $ (1,152,398 )
                                     
                                     
                         
Total unrealized depreciation for swap agreements
   $ (1,249,794 )
                                     
 
1 Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate issues or sovereign issues of an emerging country as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundless and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.
 
2 The Fund pays the fixed rate and receives the floating rate
 
 
 
 
 
At January 31, 2012, the cost and related gross unrealized appreciation and depreciation on investments for tax purposes, excluding swaps, written options, forward exchange currency contracts and foreign currency translations 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
  
  $405,390,556   $17,425,239   $(13,144,996)   $4,280,243   $(1,494,138 )
 
Accounting principles generally accepted in the United States of America ("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 following are certain inputs and techniques that are generally utilized to evaluate how to classify each major type of  investment in accordance with GAAP.  
 
Equity Securities (Common and Preferred Stock) - Equity securities traded in active markets where market quotations are readily available are categorized as Level 1.  Equity securities traded in inactive markets and certain foreign equities are valued using inputs which include broker quotes, prices of securities closely related where the security held is not trading but the related security is trading, and evaluated price quotes receievd from independent pricing providers.  To the extent that these inputs are observable, such securities are categorized as Level 2.  To the extent that these inputs are unobservable, such securities are categorized as Level 3.
 
Convertible Bonds & Notes - Convertible bonds and notes are valued by independent pricing providers who employ matrix pricing models utilizing various inputs such as market prices, broker quotes, and prices of securities with comparable maturities and qualities and evaluated price quote receievd from independent pricing providers.  To the extent that these inputs are observable, such securities are categorized as Level 2.  To the extent that these inputs are unobservable, such securities are categorized as Level 3.
 
Corporate Bonds & Notes - Corporate bonds and notes are valued by independent pricing providers who employ matrix pricing models utilizing various inputs such as market prices, broker quotes, and prices of securities with comparable maturities and qualities.  To the extent that these inputs are observable, such securities are categorized as Level 2.  To the extent that these inputs are unobservable, such securities are categorized as Level 3.
 
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, 2012:
 
   
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:
                        
Advertising
   $ -     $ 3,607     $ -     $ 3,607  
Aerospace & Defense
     -       2,925       -       2,925  
Agriculture
     -       2,651       -       2,651  
Apparel
     -       2,327       -       2,327  
Auto Parts & Equipment
     -       2,396       -       2,396  
Banks
     -       4,836       -       4,836  
Biotechnology
     -       17,060       -       17,060  
Chemicals
     -       -       430       430  
Coal
     -       7,527       -       7,527  
Computers
     -       12,132       -       12,132  
Diversified Financial Services
     -       13,060       -       13,060  
Engineering & Construction
     -       6,023       -       6,023  
Health Care Products
     -       13,568       -       13,568  
Health Care Services
     -       2,062       -       2,062  
Home Builders
     -       1,765       -       1,765  
Insurance
     -       3,220       -       3,220  
Internet
     -       7,055       -       7,055  
Investment Companies
     -       3,010       -       3,010  
Iron & Steel
     -       6,585       -       6,585  
Leisure Time
     -       6,990       -       6,990  
Lodging
     -       5,807       -       5,807  
Metal Fabricate & Hardward
     -       3,256       -       3,256  
Mining
     -       13,864       -       13,864  
Miscellaneous Manufacturing
     -       2,522       -       2,522  
Oil & Gas
     -       13,583       -       13,583  
Oil & Gas Services
     -       7,469       -       7,469  
Packaging & Containers
     -       1,576       -       1,576  
Pharmaceuticals
     -       13,995       -       13,995  
Real Estate Investment Trusts
     -       14,096       -       14,096  
Retail
     -       5,325       -       5,325  
Semiconductors
     -       9,405       -       9,405  
Software
     -       3,027       -       3,027  
Telecommunications
     -       16,545               16,545  
Corporate Bonds
     -       119,512       -       119,512  
Term Loans
     -       1,663       -       1,663  
Convertible Preferred Stocks
     12,819       -       -       12,819  
Common Stocks
     11,455       -       -       11,455  
Warrants
     -       21       -       21  
Put Options Purchased
     1,168       -       -       1,168  
Money Market Fund
     33,334       -       -       33,334  
Total
   $ 58,776     $ 350,465     $ 430     $ 409,671  
                                 
Liabilities:
                                
Call Options Written
   $ 1,627       -       -     $ 1,627  
Put Options Written
     648       -       -       648  
Credit Default Swap
     -       97       -       97  
Interest Rate Swap
     -       1,152       -       1,152  
Forward Exchange Currency Contracts
     -       1,028       -       1,028  
Total
   $ 2,275     $ 2,277     $ -     $ 4,552  
 
If not referenced in the table, please refer to the Portfolio of Investments for a breakdown of investment type by industry category.
 
There were no transfers between levels.
 
The fair value estimates for ShengdaTech, Inc. were determined in good faith by management pursuant to the valuation procedures established by management and approved by the Board of Trustees.   There were various factors considered in reaching fair value determination including , but not limited to, the type of security, public information obtained from the issuer and data provided by various brokers.
 
The following table presents the activity of the Fund's investments measured at fair value using significant unobservable inputs (Level 3 valuation) for the period ended January 31, 2012.
 
Level 3 Holdings
  
Corporate Bonds
(value in $000s)
    
Beginning Balance at 10/31/11
  
 $       430
Net Realized Gain/Loss
  
                                              -
Change in Unrealized Gain/Loss
  
                                              -
Purchases
  
                                              -
Sales
  
                                              -
Transfers In
  
                                              -
Transfers Out
  
                                              -
Ending Balanced at 1/31/12
  
 $       430
     
 
 
 
 
 
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 Convertible Securities and Income Fund II

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

Date:
 March 29, 2012

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:
 March 29, 2012

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

Date:
 March 29, 2012