Calamos Convertible Opportunities and Income Fund NPORTP Monthly portfolio investment report


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE

	CORPORATE BONDS (38.6%)

		*Airlines (0.8%)*
	166,400	Air Canada Pass Through Trust Series 2015-2, Class B* 5.000%, 06/15/25	$	165,173
	924,634	Alaska Airlines Pass Through Trust Series 2020-1, Class A*µ 4.800%, 02/15/29		895,323
	490,452	Alaska Airlines Pass Through Trust Series 2020-1, Class B* 8.000%, 02/15/27		494,925
	1,051,960	American Airlines Pass Through Trust Series 2021-1, Class B 3.950%, 01/11/32		928,218
		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
	657,250	5.500%, 04/20/26		648,108
	239,000	5.750%, 04/20/29		231,856
	998,568	British Airways Pass Through Trust Series 2021-1, Class B* 3.900%, 03/15/33		896,205
	997,118	JetBlue Pass Through Trust Series 2020-1, Class B 7.750%, 05/15/30		1,005,294
	1,261,000	Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.* 8.000%, 09/20/25		1,276,267

				6,541,369


		*Communication Services (4.1%)*
	500,000	Altice France Holding, SA* 10.500%, 05/15/27		212,365
	1,100,000	Altice France, SA* 5.500%, 10/15/29		782,232
	1,160,000	APi Group DE, Inc.* 4.750%, 10/15/29		1,033,815
	933,000	Arrow Bidco, LLC* 9.500%, 03/15/24		935,547
	1,025,000	Ashtead Capital, Inc.* 2.450%, 08/12/31		812,169
		Audacy Capital Corp.*
	1,193,000	6.750%, 03/31/29		26,067
	448,000	6.500%, 05/01/27		10,774
	717,000	Cincinnati Bell Telephone Company, LLC 6.300%, 12/01/28		589,037
	1,465,000	Consolidated Communications, Inc.* 6.500%, 10/01/28		1,145,147
		CSC Holdings, LLC*
	1,550,000	5.500%, 04/15/27		1,331,047
	1,450,000	5.375%, 02/01/28		1,212,011
	1,350,000	4.625%, 12/01/30		682,452
	1,125,000	4.500%, 11/15/31		808,267
	1,100,000	5.750%, 01/15/30		571,021
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
	750,000	6.625%, 08/15/27		22,163
	540,000	5.375%, 08/15/26		17,215
	1,320,000	Directv Financing, LLC / Directv Financing Co-Obligor, Inc.* 5.875%, 08/15/27		1,192,739


PRINCIPAL ��AMOUNT			VALUE
	674,000	Embarq Corp. 7.995%, 06/01/36	$	383,176
	1,000,000	Frontier California, Inc. 6.750%, 05/15/27		923,960
		Frontier Communications Holdings, LLC*
	605,000	5.000%, 05/01/28		513,264
	239,000	8.750%, 05/15/30		230,559
	1,039,000	Frontier Florida, LLC@ 6.860%, 02/01/28		975,122
	1,445,000	Frontier North, Inc.@ 6.730%, 02/15/28		1,306,352
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
	835,000	3.500%, 03/01/29		719,712
	250,000	5.250%, 12/01/27		240,507
		iHeartCommunications, Inc.
	355,000	8.375%, 05/01/27		243,175
	355,000	5.250%, 08/15/27*		280,106
		Intelsat Jackson Holdings, SA@&
	731,000	0.000%, 07/15/25*		1
	475,000	0.000%, 08/01/23		—
	1,215,000	LCPR Senior Secured Financing DAC* 6.750%, 10/15/27		1,141,602
	722,947	Ligado Networks, LLC* 15.500%, 11/01/23 15.500% PIK rate		251,202
		Lumen Technologies, Inc.
	720,000	7.600%, 09/15/39		264,665
	485,000	4.000%, 02/15/27*		319,130
	478,000	Match Group Holdings II, LLC*^ 3.625%, 10/01/31		394,431
	670,000	Paramount Global‡ 6.375%, 03/30/62 5 year CMT + 4.00%		553,487
	336,000	Qwest Corp. 7.250%, 09/15/25		328,158
		Scripps Escrow II, Inc.*
	477,000	3.875%, 01/15/29		396,893
	239,000	5.375%, 01/15/31		182,132
	810,000	Scripps Escrow, Inc.* 5.875%, 07/15/27		677,816
		Sirius XM Radio, Inc.*
	1,250,000	5.500%, 07/01/29		1,143,750
	963,000	4.000%, 07/15/28		838,927
	475,000	3.125%, 09/01/26		428,483
	239,000	3.875%, 09/01/31		187,357
	874,000	Spanish Broadcasting System, Inc.* 9.750%, 03/01/26		606,058
	2,430,000	Sprint, LLCµ 7.125%, 06/15/24		2,453,401
	840,000	Stagwell Global, LLC* 5.625%, 08/15/29		715,789
	1,080,000	TEGNA, Inc. 4.625%, 03/15/28		973,685
	755,000	Telecom Italia Capital, SA 6.000%, 09/30/34		611,331
	953,000	Telesat Canada / Telesat, LLC* 4.875%, 06/01/27		572,334
	385,000	Time Warner Cable, LLC 7.300%, 07/01/38		393,016
	1,580,000	United States Cellular Corp.^ 6.700%, 12/15/33		1,367,680


See accompanying Notes to Schedule of Investments

1


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	360,000	Univision Communications, Inc.* 8.000%, 08/15/28	$	363,067

				32,364,396


		*Consumer Discretionary (8.2%)*
	1,162,000	Abercrombie & Fitch Management Company*^ 8.750%, 07/15/25		1,180,755
	1,195,000	Adient Global Holdings Company* 8.250%, 04/15/31		1,228,854
	764,000	American Axle & Manufacturing, Inc. 6.875%, 07/01/28		727,832
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
	837,000	4.625%, 08/01/29		725,696
	705,000	6.625%, 01/15/28		680,247
	1,208,000	At Home Group, Inc.* 4.875%, 07/15/28		702,500
		Bath & Body Works, Inc.
	1,264,000	6.694%, 01/15/27		1,270,130
	1,200,000	6.875%, 11/01/35		1,114,476
	400,000	Benteler International AG* 10.500%, 05/15/28		409,204
		Caesars Entertainment Corp.*^
	604,000	4.625%, 10/15/29		532,245
	472,000	8.125%, 07/01/27		485,136
		Carnival Corp.*
	488,000	10.500%, 02/01/26		514,562
	481,000	7.625%, 03/01/26^		475,151
	481,000	4.000%, 08/01/28		428,109
	1,130,000	Carriage Services, Inc.* 4.250%, 05/15/29		980,772
	725,000	Carvana Company* 4.875%, 09/01/29		450,316
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
	3,130,000	5.125%, 05/01/27		2,939,477
	1,100,000	6.375%, 09/01/29		1,052,601
	1,055,000	4.750%, 03/01/30		914,759
	951,000	4.250%, 02/01/31		781,855
	565,000	5.000%, 02/01/28		522,941
	500,000	4.500%, 08/15/30		423,460
	478,000	4.750%, 02/01/32		396,338
	478,000	CDI Escrow Issuer, Inc.* 5.750%, 04/01/30		444,569
	750,000	Cedar Fair, LP^ 5.250%, 07/15/29		674,182
	478,000	Churchill Downs, Inc.* 6.750%, 05/01/31		467,814
		Dana, Inc.
	790,000	4.250%, 09/01/30		678,626
	723,000	4.500%, 02/15/32^		607,414
		DISH DBS Corp.
	1,200,000	5.250%, 12/01/26*		985,404
	763,000	7.750%, 07/01/26		494,699
	595,000	7.375%, 07/01/28		335,526
	480,000	5.125%, 06/01/29		242,933
	946,000	DISH Network Corp.* 11.750%, 11/15/27		952,735
	1,365,000	Empire Resorts, Inc.* 7.750%, 11/01/26		1,108,257
	1,058,000	Everi Holdings, Inc.* 5.000%, 07/15/29		939,314
	1,000,000	Ford Motor Company^ 6.100%, 08/19/32		968,270


PRINCIPAL AMOUNT			VALUE
		Ford Motor Credit Company, LLC
	1,865,000	7.350%, 11/04/27	$	1,918,675
	1,525,000	4.000%, 11/13/30		1,315,999
	1,245,000	7.200%, 06/10/30		1,280,657
	1,150,000	5.113%, 05/03/29		1,074,146
	800,000	2.900%, 02/16/28		689,600
	425,000	7.350%, 03/06/30		440,432
		Gap, Inc.*
	359,000	3.875%, 10/01/31		257,037
	48,000	3.625%, 10/01/29		35,806
		goeasy, Ltd.*
	1,660,000	5.375%, 12/01/24		1,620,343
	881,000	4.375%, 05/01/26		807,542
	407,000	Group 1 Automotive, Inc.* 4.000%, 08/15/28		360,256
	1,026,000	Guitar Center, Inc.*&^ 8.500%, 01/15/26		945,192
		International Game Technology, PLC*
	1,260,000	6.250%, 01/15/27		1,262,167
	200,000	4.125%, 04/15/26		190,546
	600,000	Kohl’s Corp. 5.550%, 07/17/45		391,050
	955,000	LCM Investments Holdings II, LLC* 8.250%, 08/01/31		970,882
	965,000	Liberty Interactive, LLC 8.250%, 02/01/30		361,875
		Life Time, Inc.*
	937,000	8.000%, 04/15/26		938,715
	480,000	5.750%, 01/15/26		471,274
	360,000	Lindblad Expeditions Holdings, Inc.* 9.000%, 05/15/28		372,013
	616,000	Lindblad Expeditions, LLC* 6.750%, 02/15/27		597,113
	635,000	M/I Homes, Inc. 3.950%, 02/15/30		554,895
		Macy’s Retail Holdings, LLC
	1,601,000	6.700%, 07/15/34*		1,333,313
	490,000	4.300%, 02/15/43		308,426
	1,130,000	Mclaren Finance, PLC* 7.500%, 08/01/26		1,009,485
	1,219,000	Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.* 4.875%, 05/01/29		1,085,410
	701,000	Mohegan Tribal Gaming Authority* 8.000%, 02/01/26		642,803
		Newell Brands, Inc.^
	250,000	6.375%, 09/15/27		245,955
	121,000	6.625%, 09/15/29		121,288
		Nordstrom, Inc.
	500,000	5.000%, 01/15/44		341,215
	465,000	4.250%, 08/01/31		367,401
	1,105,000	Penn Entertainment, Inc.*^ 4.125%, 07/01/29		914,045
		PetSmart, Inc. / PetSmart Finance Corp.*
	600,000	7.750%, 02/15/29		586,326
	300,000	4.750%, 02/15/28		275,640
	1,340,000	Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.* 5.625%, 09/01/29		1,025,582
	2,722,000	Rite Aid Corp.* 8.000%, 11/15/26		1,363,913


See accompanying Notes to Schedule of Investments

2


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	478,000	Royal Caribbean Cruises, Ltd.* 7.250%, 01/15/30	$	484,998
	1,350,000	Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed* 4.625%, 03/01/29		1,126,291
	1,925,000	Six Flags Entertainment Corp.* 7.250%, 05/15/31		1,843,592
	1,090,000	Sonic Automotive, Inc.*^ 4.625%, 11/15/29		935,067
	698,000	Speedway Motorsports, LLC / Speedway Funding II, Inc.* 4.875%, 11/01/27		653,921
	1,965,000	Station Casinos, LLC* 4.500%, 02/15/28		1,784,809
	589,000	Taylor Morrison Communities, Inc.* 5.750%, 01/15/28		575,400
	240,000	Viking Cruises, Ltd.* 9.125%, 07/15/31		246,754
	1,100,000	Vista Outdoor, Inc.* 4.500%, 03/15/29		936,617
	480,000	Windsor Holdings III, LLC* 8.500%, 06/15/30		483,053
		ZF North America Capital, Inc.*
	950,000	7.125%, 04/14/30		978,424
	300,000	6.875%, 04/14/28		304,968

				64,668,070


		*Consumer Staples (1.6%)*
	1,090,000	1375209 B.C., Ltd.*^ 9.000%, 01/30/28		1,094,436
	1,099,000	Central Garden & Pet Company* 4.125%, 04/30/31		921,292
	1,092,000	Edgewell Personal Care Company* 4.125%, 04/01/29		956,242
		Energizer Holdings, Inc.*
	1,331,000	4.375%, 03/31/29^		1,158,329
	240,000	6.500%, 12/31/27		234,588
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.*
	1,415,000	5.500%, 01/15/30		1,369,876
	595,000	5.125%, 02/01/28µ		578,816
	370,000	5.750%, 04/01/33		355,426
	621,000	New Albertsons, LP 7.750%, 06/15/26		643,418
	957,000	Performance Food Group, Inc.* 4.250%, 08/01/29		850,160
		Pilgrim’s Pride Corp.
	795,000	5.875%, 09/30/27*		785,913
	700,000	4.250%, 04/15/31		604,996
	442,000	Post Holdings, Inc.* 5.750%, 03/01/27		433,598
	909,000	Prestige Brands, Inc.* 3.750%, 04/01/31		766,369
	570,000	United Natural Foods, Inc.*^ 6.750%, 10/15/28		475,728
	1,500,000	Vector Group, Ltd.* 5.750%, 02/01/29		1,308,435

				12,537,622


		*Energy (4.5%)*
	959,000	Antero Resources Corp.* 5.375%, 03/01/30		894,670


PRINCIPAL AMOUNT			VALUE
	958,000	Apache Corp. 5.100%, 09/01/40	$	814,539
		Buckeye Partners, LP
	750,000	3.950%, 12/01/26		691,537
	500,000	5.850%, 11/15/43		387,195
	1,335,000	Callon Petroleum Company*^ 7.500%, 06/15/30		1,298,034
	477,000	Cheniere Energy, Inc. 4.625%, 10/15/28		449,429
	720,000	Chesapeake Energy Corp.* 6.750%, 04/15/29		717,444
	264,000	Civitas Resources, Inc.* 8.750%, 07/01/31		273,390
		Continental Resources, Inc.*
	715,000	2.875%, 04/01/32		556,463
	475,000	5.750%, 01/15/31		460,322
	742,000	DT Midstream, Inc.* 4.125%, 06/15/29		658,740
		Earthstone Energy Holdings, LLC*
	941,000	8.000%, 04/15/27		937,123
	360,000	9.875%, 07/15/31		372,478
	555,000	Enbridge, Inc.‡ 7.375%, 01/15/83 5 year CMT + 3.71%		550,527
		Energy Transfer, LP‡
	1,400,000	8.651%, 11/01/66 3 mo. USD SOFR + 3.28%		1,123,248
	700,000	6.500%, 11/15/26 5 year CMT + 5.69%		638,918
		EnLink Midstream Partners, LP
	1,235,000	9.618%, 08/31/23‡ 3 mo. USD LIBOR + 4.11%		1,068,744
	1,015,000	4.850%, 07/15/26		987,260
	600,000	Enlink Midstream, LLC* 6.500%, 09/01/30		605,226
	1,100,000	EQM Midstream Partners, LP* 7.500%, 06/01/27		1,119,217
		Genesis Energy, LP / Genesis Energy Finance Corp.
	978,000	6.250%, 05/15/26^		939,203
	239,000	8.875%, 04/15/30		238,716
		Gulfport Energy Corp.
	955,000	8.000%, 05/17/26*		968,017
	940,000	0.000%, 05/15/25@&		1
	287,284	8.000%, 05/17/26		291,200
	1,340,000	Hilcorp Energy I, LP / Hilcorp Finance Company* 6.000%, 04/15/30		1,239,420
	717,000	Howard Midstream Energy Partners, LLC* 6.750%, 01/15/27		695,512
	940,000	Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.* 6.000%, 08/01/26		921,839
		Moss Creek Resources Holdings, Inc.*
	500,000	10.500%, 05/15/27		488,875
	455,000	7.500%, 01/15/26		426,394
	720,000	Nabors Industries, Inc.* 7.375%, 05/15/27		705,038
	720,000	Nabors Industries, Ltd.* 7.500%, 01/15/28		663,610
		New Fortress Energy, Inc.*
	952,000	6.750%, 09/15/25		907,180
	478,000	6.500%, 09/30/26		439,105


See accompanying Notes to Schedule of Investments

3


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	1,025,000	Parkland Corp.* 5.875%, 07/15/27	$	997,632
	957,000	Patterson-UTI Energy, Inc. 5.150%, 11/15/29		888,019
	960,000	Plains All American Pipeline, LP‡ 9.431%, 08/31/23 3 mo. USD LIBOR + 4.11%		872,170
	860,000	Rockcliff Energy II, LLC* 5.500%, 10/15/29		791,105
		Southwestern Energy Company
	480,000	5.375%, 02/01/29		454,075
	479,000	4.750%, 02/01/32		427,158
	239,000	Sunoco, LP / Sunoco Finance Corp. 4.500%, 04/30/30		212,794
	1,195,000	Transocean, Inc.* 8.750%, 02/15/30		1,241,007
		Venture Global Calcasieu Pass, LLC*
	600,000	6.250%, 01/15/30		587,262
	240,000	4.125%, 08/15/31		203,921
	240,000	3.875%, 08/15/29		208,282
		Venture Global LNG, Inc.*
	1,195,000	8.375%, 06/01/31		1,213,666
	715,000	8.125%, 06/01/28		727,091
		Vital Energy, Inc.
	570,000	7.750%, 07/31/29*		489,664
	477,000	9.500%, 01/15/25^		476,657
	1,000,000	VOC Escrow, Ltd.* 5.000%, 02/15/28		930,320
	955,000	Weatherford International, Ltd.* 8.625%, 04/30/30		979,496

				35,228,933


		*Financials (6.6%)*
	1,280,000	Acrisure, LLC / Acrisure Finance, Inc.* 7.000%, 11/15/25		1,239,514
	1,440,000	Aethon United BR, LP / Aethon United Finance Corp.* 8.250%, 02/15/26		1,437,264
	1,459,000	AG Issuer, LLC* 6.250%, 03/01/28		1,411,582
	1,675,000	Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer* 6.750%, 10/15/27		1,595,287
		Ally Financial, Inc.
	1,087,000	4.700%, 05/15/26‡ 5 year CMT + 3.87%		829,370
	445,000	4.700%, 05/15/28‡ 7 year CMT + 3.48%		314,148
	402,000	8.000%, 11/01/31		426,948
	1,923,000	AmWINS Group, Inc.* 4.875%, 06/30/29		1,764,699
	1,069,000	Aviation Capital Group, LLC*µ 3.500%, 11/01/27		964,227
	400,000	Avolon Holdings Funding, Ltd.*µ 5.500%, 01/15/26		388,892
	1,916,000	BroadStreet Partners, Inc.* 5.875%, 04/15/29		1,712,463
		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
	905,000	4.500%, 04/01/27		783,576
	605,000	5.750%, 05/15/26		568,204


PRINCIPAL AMOUNT			VALUE
	1,000,000	Burford Capital Global Financial, LLC* 6.875%, 04/15/30	$	915,540
	842,000	Castlelake Aviation Finance DAC*^ 5.000%, 04/15/27		777,781
		Credit Acceptance Corp.
	1,250,000	6.625%, 03/15/26^		1,226,562
	869,000	5.125%, 12/31/24*		852,228
	1,247,000	Enact Holdings, Inc.*µ 6.500%, 08/15/25		1,235,104
	1,398,000	Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP* 3.750%, 12/15/27		1,117,310
	1,563,000	Greystar Real Estate Partners, LLC* 5.750%, 12/01/25		1,542,884
		HUB International, Ltd.*
	1,430,000	5.625%, 12/01/29		1,280,079
	1,030,000	7.000%, 05/01/26		1,028,960
	718,000	Icahn Enterprises, LP / Icahn Enterprises Finance Corp. 4.375%, 02/01/29		583,052
	1,300,000	ILFC E-Capital Trust II*‡ 7.314%, 12/21/65 3 mo. USD LIBOR + 1.80%		942,500
		Iron Mountain, Inc.*
	1,990,000	5.250%, 03/15/28		1,872,749
	240,000	7.000%, 02/15/29		241,135
	2,435,000	Jefferies Finance, LLC / JFIN Co-Issuer Corp.* 5.000%, 08/15/28		2,081,365
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
	1,874,000	5.250%, 10/01/25		1,796,979
	478,000	4.750%, 06/15/29		403,255
	1,359,000	LD Holdings Group, LLC* 6.125%, 04/01/28		893,570
		Level 3 Financing, Inc.*
	1,279,000	3.400%, 03/01/27		1,130,124
	985,000	4.250%, 07/01/28		698,680
	480,000	4.625%, 09/15/27		365,462
	720,000	LPL Holdings, Inc.* 4.000%, 03/15/29		646,020
	2,085,000	MetLife, Inc. 6.400%, 12/15/66		2,099,699
	1,300,000	Nationstar Mortgage Holdings, Inc.* 5.500%, 08/15/28		1,180,062
		Navient Corp.
	1,038,000	5.000%, 03/15/27		940,667
	525,000	4.875%, 03/15/28		459,218
	1,100,000	Necessity Retail REIT, Inc. / American Finance Operating Partner, LP* 4.500%, 09/30/28		863,423
		OneMain Finance Corp.
	670,000	9.000%, 01/15/29		681,397
	660,000	3.875%, 09/15/28		544,348
	479,000	7.125%, 03/15/26^		474,785
	476,000	Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*^ 5.875%, 10/01/28		441,514


See accompanying Notes to Schedule of Investments

4


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	1,493,000	PHH Mortgage Corp.* 7.875%, 03/15/26	$	1,353,688
	230,000	PNC Financial Services Group, Inc.µ‡ 6.000%, 05/15/27 5 year CMT + 3.00%		213,435
	1,100,000	RHP Hotel Properties, LP / RHP Finance Corp.* 4.500%, 02/15/29		981,222
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
	450,000	3.875%, 03/01/31		371,210
	445,000	3.625%, 03/01/29		379,389
	220,000	2.875%, 10/15/26		196,429
	943,000	StoneX Group, Inc.* 8.625%, 06/15/25		956,089
		United Wholesale Mortgage, LLC*
	1,123,000	5.500%, 04/15/29		988,476
	480,000	5.750%, 06/15/27		449,477
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
	478,000	10.500%, 02/15/28		475,490
	465,000	6.500%, 02/15/29		324,235
	1,100,000	VZ Secured Financing, BV* 5.000%, 01/15/32		895,246
	1,017,000	XHR, LP* 6.375%, 08/15/25		1,003,789

				51,340,801


		*Health Care (2.7%)*
		Bausch Health Companies, Inc.*
	1,934,000	11.000%, 09/30/28		1,434,448
	382,000	14.000%, 10/15/30		243,834
	359,000	6.125%, 02/01/27		237,119
		CHS/Community Health Systems, Inc.*
	1,917,000	6.125%, 04/01/30		1,211,506
	1,100,000	8.000%, 03/15/26		1,081,872
	538,000	6.875%, 04/15/29		358,437
	120,000	5.250%, 05/15/30		96,090
		DaVita, Inc.*
	1,926,000	4.625%, 06/01/30		1,646,037
	1,139,000	3.750%, 02/15/31		911,542
		Embecta Corp.*
	717,000	5.000%, 02/15/30		592,249
	240,000	6.750%, 02/15/30		211,894
		Encompass Health Corp.
	470,000	4.750%, 02/01/30		428,391
	470,000	4.500%, 02/01/28		437,246
	1,109,000	HCA, Inc. 7.500%, 11/06/33		1,224,580
	300,000	Jazz Securities DAC* 4.375%, 01/15/29		267,240
	411,879	Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC* 10.000%, 06/15/29		68,487
		Medline Borrower, LP*
	1,215,000	3.875%, 04/01/29		1,065,616
	1,208,000	5.250%, 10/01/29		1,073,622
		Organon & Company / Organon Foreign Debt Co-Issuer, BV*
	1,760,000	5.125%, 04/30/31		1,493,870
	450,000	4.125%, 04/30/28		403,627
	1,025,000	Team Health Holdings, Inc.* 6.375%, 02/01/25		531,391


PRINCIPAL AMOUNT			VALUE
		Tenet Healthcare Corp.
	2,250,000	6.250%, 02/01/27	$	2,209,927
	1,315,000	6.875%, 11/15/31		1,318,130
		Teva Pharmaceutical Finance Netherlands III, BV
	1,215,000	5.125%, 05/09/29^		1,117,326
	800,000	4.750%, 05/09/27		745,656
	440,000	3.150%, 10/01/26		398,372

				20,808,509


		*Industrials (5.7%)*
	1,100,000	ACCO Brands Corp.*^ 4.250%, 03/15/29		945,670
	740,000	AerCap Holdings, NV^‡ 5.875%, 10/10/79 5 year CMT + 4.54%		717,430
	965,000	Air Lease Corp.‡ 4.125%, 12/15/26 5 year CMT + 3.15%		700,937
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
	1,600,000	4.625%, 01/15/27		1,519,040
	952,000	3.500%, 03/15/29		829,144
	720,000	5.875%, 02/15/28		704,938
	1,100,000	Allegiant Travel Company* 7.250%, 08/15/27		1,089,275
	240,000	American Airlines Group, Inc.*^ 3.750%, 03/01/25		229,289
	538,000	Arcosa, Inc.* 4.375%, 04/15/29		487,756
	2,450,000	ARD Finance, SA* 6.500%, 06/30/27 7.250% PIK rate		1,995,476
	753,000	Beacon Roofing Supply, Inc.* 4.125%, 05/15/29		666,337
	956,000	BWX Technologies, Inc.* 4.125%, 04/15/29		868,335
		Cascades, Inc. / Cascades USA, Inc.*
	500,000	5.375%, 01/15/28		472,955
	485,000	5.125%, 01/15/26		467,923
	239,000	Delta Air Lines, Inc. 7.375%, 01/15/26		248,340
	239,000	Delta Air Lines, Inc. / SkyMiles IP, Ltd.* 4.750%, 10/20/28		231,591
	1,265,000	Deluxe Corp.* 8.000%, 06/01/29		1,063,157
	717,000	Eco Material Technologies, Inc.* 7.875%, 01/31/27		692,436
	239,000	Emerald Debt Merger Sub, LLC* 6.625%, 12/15/30		237,975
	475,000	EnerSys* 4.375%, 12/15/27		441,351
	580,000	Graham Packaging Company, Inc.* 7.125%, 08/15/28		510,684
		Graphic Packaging International, LLC*
	625,000	4.750%, 07/15/27		602,700
	446,000	3.500%, 03/01/29		390,388
	1,054,000	Great Lakes Dredge & Dock Corp.*^ 5.250%, 06/01/29		897,681


See accompanying Notes to Schedule of Investments

5


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	2,244,000	H&E Equipment Services, Inc.* 3.875%, 12/15/28	$	1,972,409
	1,438,000	Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.* 5.750%, 01/20/26		1,358,996
	1,250,000	Herc Holdings, Inc.* 5.500%, 07/15/27		1,202,125
	1,120,000	IEA Energy Services, LLC* 6.625%, 08/15/29		1,096,211
	1,024,000	JELD-WEN, Inc.*^ 4.625%, 12/15/25		1,008,333
	1,575,000	Ken Garff Automotive, LLC* 4.875%, 09/15/28		1,388,536
	955,000	Knife River Holding Company* 7.750%, 05/01/31		978,168
	474,000	MasTec, Inc.*^ 4.500%, 08/15/28		441,000
	588,000	Moog, Inc.* 4.250%, 12/15/27		545,458
	1,198,000	Newfold Digital Holdings Group, Inc.* 6.000%, 02/15/29		885,130
	940,000	Novelis Corp.* 4.750%, 01/30/30		846,028
	360,000	OI European Group, BV* 4.750%, 02/15/30		326,729
	1,100,000	Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC* 4.000%, 10/15/27		992,068
	1,449,000	Patrick Industries, Inc.*^ 4.750%, 05/01/29		1,261,065
	470,000	QVC, Inc. 5.450%, 08/15/34		238,248
		Sealed Air Corp.*
	743,000	6.125%, 02/01/28		742,287
	239,000	5.000%, 04/15/29		223,398
	450,000	Sensata Technologies, BV* 4.000%, 04/15/29		398,889
	479,000	Sensata Technologies, Inc.* 3.750%, 02/15/31		405,330
		Sinclair Television Group, Inc.*
	717,000	4.125%, 12/01/30		467,599
	475,000	5.500%, 03/01/30		250,624
	955,000	Standard Industries, Inc.* 5.000%, 02/15/27		915,902
	773,000	Stericycle, Inc.* 3.875%, 01/15/29		683,695
	717,000	STL Holding Company, LLC* 7.500%, 02/15/26		668,308
	1,000,000	TransDigm UK Holdings, PLC 6.875%, 05/15/26		996,320
		TransDigm, Inc.
	1,299,000	6.250%, 03/15/26*		1,294,389
	710,000	6.750%, 08/15/28*		714,381
	700,000	7.500%, 03/15/27		699,881
	719,000	Tronox, Inc.* 4.625%, 03/15/29		596,662
	389,717	United Airlines Pass Through Trust Series 2019-2, Class B 3.500%, 11/01/29		351,271
	961,000	Vertiv Group Corp.* 4.125%, 11/15/28		863,708
	1,004,000	Wabash National Corp.* 4.500%, 10/15/28		847,547


PRINCIPAL AMOUNT			VALUE
	855,000	Waste Pro USA, Inc.* 5.500%, 02/15/26	$	810,147
	235,000	WESCO Distribution, Inc.* 7.250%, 06/15/28		240,222
		Williams Scotsman International, Inc.*
	1,027,000	6.125%, 06/15/25		1,023,888
	241,000	4.625%, 08/15/28		222,667

				44,968,427


		*Information Technology (1.7%)*
	478,000	Booz Allen Hamilton, Inc.* 4.000%, 07/01/29		432,528
	557,000	Coherent Corp.*^ 5.000%, 12/15/29		502,030
	1,114,000	CommScope Technologies, LLC*^ 6.000%, 06/15/25		1,012,147
	895,000	CommScope, Inc.* 4.750%, 09/01/29		689,705
	602,000	Dell International, LLC / EMC Corp.µ 6.020%, 06/15/26		610,500
	478,000	Dun & Bradstreet Corp.*^ 5.000%, 12/15/29		424,043
	480,000	Fair Isaac Corp.* 4.000%, 06/15/28		441,192
	1,050,000	KBR, Inc.* 4.750%, 09/30/28		962,168
		MPH Acquisition Holdings, LLC*
	1,050,000	5.750%, 11/01/28^		805,004
	480,000	5.500%, 09/01/28		419,011
	478,000	NCR Corp.* 5.125%, 04/15/29		428,264
	723,000	ON Semiconductor Corp.* 3.875%, 09/01/28		655,710
		Open Text Corp.*
	705,000	3.875%, 02/15/28		628,649
	475,000	6.900%, 12/01/27		486,039
	359,000	3.875%, 12/01/29		303,929
	359,000	Open Text Holdings, Inc.* 4.125%, 12/01/31		298,415
	479,000	Playtika Holding Corp.* 4.250%, 03/15/29		423,197
	1,350,000	TTM Technologies, Inc.* 4.000%, 03/01/29		1,151,995
		Twilio, Inc.
	680,000	3.625%, 03/15/29		585,140
	236,000	3.875%, 03/15/31^		199,970
	1,200,000	Viavi Solutions, Inc.* 3.750%, 10/01/29		1,034,796
	1,100,000	ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*^ 3.875%, 02/01/29		947,078

				13,441,510


		*Materials (1.7%)*
	500,000	ArcelorMittal, SA^ 7.000%, 10/15/39		518,765
	534,000	ATI, Inc. 5.875%, 12/01/27		521,755
	242,000	Carpenter Technology Corp. 7.625%, 03/15/30		247,302
	715,000	Chemours Company* 4.625%, 11/15/29		606,005
	1,530,000	Clearwater Paper Corp.* 4.750%, 08/15/28		1,356,330


See accompanying Notes to Schedule of Investments

6


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	716,000	Cleveland-Cliffs, Inc.* 6.750%, 04/15/30	$	698,336
		Commercial Metals Company
	478,000	4.125%, 01/15/30		430,248
	239,000	4.375%, 03/15/32		208,908
	1,115,000	Constellium, SE*^ 3.750%, 04/15/29		970,819
	716,000	HB Fuller Company 4.250%, 10/15/28		643,133
	475,000	INEOS Finance, PLC* 6.750%, 05/15/28		453,316
	725,000	JW Aluminum Continuous Cast Company* 10.250%, 06/01/26		718,634
		Kaiser Aluminum Corp.*
	1,090,000	4.625%, 03/01/28		980,193
	120,000	4.500%, 06/01/31		98,483
	235,000	LSF11 A5 HoldCo, LLC* 6.625%, 10/15/29		197,572
	1,260,000	Mercer International, Inc. 5.125%, 02/01/29		1,034,397
	935,000	OCI, NV* 6.700%, 03/16/33		925,930
		Owens-Brockway Glass Container, Inc.*
	720,000	7.250%, 05/15/31		732,694
	710,000	6.625%, 05/13/27		708,218
	1,105,000	Silgan Holdings, Inc. 4.125%, 02/01/28		1,012,777
	478,000	Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.* 5.125%, 04/01/29		281,370

				13,345,185


		*Other (0.1%)*
		Gen Digital, Inc.*
	500,000	7.125%, 09/30/30^		504,380
	500,000	6.750%, 09/30/27		502,205

				1,006,585


		*Real Estate (0.4%)*
	764,000	EPR Properties 3.750%, 08/15/29		629,093
		Forestar Group, Inc.*
	750,000	5.000%, 03/01/28		698,693
	502,000	3.850%, 05/15/26		467,839
	1,073,000	MIWD Holdco II, LLC / MIWD Finance Corp.*^ 5.500%, 02/01/30		913,241
	465,000	Service Properties Trust 5.250%, 02/15/26		424,977

				3,133,843


		*Special Purpose Acquisition Companies (0.2%)*
		Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
	955,000	6.750%, 01/15/30^		821,415
	477,000	4.625%, 01/15/29		418,529

				1,239,944


		*Utilities (0.3%)*
	350,000	PPL Capital Funding, Inc.‡ 8.203%, 03/30/67 3 mo. USD LIBOR + 2.67%		317,233


PRINCIPAL AMOUNT			VALUE
	1,250,000	TerraForm Power Operating, LLC* 5.000%, 01/31/28	$	1,163,450
		Vistra Corp.*‡
	450,000	7.000%, 12/15/26 5 year CMT + 5.74%		405,711
	250,000	8.000%, 10/15/26 5 year CMT + 6.93%		238,318

				2,124,712

		TOTAL CORPORATE BONDS (Cost $325,863,399)		302,749,906


	CONVERTIBLE BONDS (97.5%)

		*Communication Services (8.7%)*
	720,000	Cable One, Inc.µ 0.000%, 03/15/26		592,891
		Liberty Media Corp.*
	9,000,000	2.250%, 08/15/27		9,502,200
	9,000,000	0.500%, 12/01/50µ		9,829,350
	8,500,000	3.750%, 03/15/28µ		9,262,025
	5,250,000	Match Group Finance Company 3, Inc.*µ 2.000%, 01/15/30		4,911,218
	6,000,000	Perficient, Inc.µ 0.125%, 11/15/26		4,785,960
	14,500,000	Sea, Ltd. 0.250%, 09/15/26		11,684,680
		Snap, Inc.µ
	10,500,000	0.000%, 05/01/27		7,886,025
	5,750,000	0.750%, 08/01/26		5,328,927
	3,500,000	Zillow Group, Inc.µ 1.375%, 09/01/26		4,630,640

				68,413,916


		*Consumer Discretionary (19.4%)*
	11,500,000	Airbnb, Inc.µ 0.000%, 03/15/26		10,350,115
	4,500,000	Booking Holdings, Inc. 0.750%, 05/01/25		7,273,125
	4,250,000	Carnival Corp.* 5.750%, 12/01/27		7,071,873
	6,750,000	Chegg, Inc.µ 0.000%, 09/01/26		5,076,608
		DISH Network Corp.
	13,230,000	0.000%, 12/15/25		8,079,561
	1,917,000	2.375%, 03/15/24µ		1,767,301
	11,500,000	DraftKings Holdings, Inc.µ 0.000%, 03/15/28		8,886,165
	12,750,000	Etsy, Inc.µ 0.125%, 09/01/27		11,228,033
	16,750,000	Ford Motor Company 0.000%, 03/15/26		17,148,482
	8,750,000	Liberty Broadband Corp.*µ 3.125%, 03/31/53		8,942,500
	2,435,000	Lucid Group, Inc.* 1.250%, 12/15/26		1,632,935
	10,250,000	Marriott Vacations Worldwide Corp.*µ 3.250%, 12/15/27		9,902,730
	8,125,000	Rivian Automotive, Inc.* 4.625%, 03/15/29		13,081,331
	5,750,000	Shake Shack, Inc.µ 0.000%, 03/01/28		4,620,930
	15,000,000	Vail Resorts, Inc.µ^ 0.000%, 01/01/26		13,308,000


See accompanying Notes to Schedule of Investments

7


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	13,500,000	Wayfair, Inc.* 3.250%, 09/15/27	$	19,380,735
	4,250,000	Wynn Macau, Ltd.* 4.500%, 03/07/29		4,707,513

				152,457,937


		*Consumer Staples (0.6%)*
	4,500,000	Post Holdings, Inc.* 2.500%, 08/15/27		4,487,130


		*Energy (2.6%)*
	1,500,000	EQT Corp. 1.750%, 05/01/26		4,329,840
	4,890,000	Nabors Industries, Inc.*µ 1.750%, 06/15/29		4,270,339
	4,250,000	Northern Oil And Gas, Inc.* 3.625%, 04/15/29		5,191,163
	2,750,000	Pioneer Natural Resources Company 0.250%, 05/15/25		6,594,197
		SunEdison, Inc.@
	9,411,000	0.000%, 01/15/49*		94,110
	898,000	0.000%, 10/01/49		8,980

				20,488,629


		*Financials (1.3%)*
	8,750,000	Morgan Stanley Finance, LLC 1.000%, 11/23/27		9,811,375


		*Health Care (22.2%)*
	4,500,000	Alnylam Pharmaceuticals, Inc.*µ 1.000%, 09/15/27		4,393,980
	5,500,000	Alphatec Holdings, Inc. 0.750%, 08/01/26		6,335,175
	5,702,000	BioMarin Pharmaceutical, Inc.µ^ 0.599%, 08/01/24		5,573,591
	9,500,000	CONMED Corp. 2.250%, 06/15/27		9,982,505
	12,250,000	CryoPort, Inc.*µ 0.750%, 12/01/26		9,738,995
		Dexcom, Inc.
	15,831,000	0.250%, 11/15/25		16,668,935
	8,000,000	0.375%, 05/15/28*µ		8,092,240
	2,426,000	Envista Holdings Corp. 2.375%, 06/01/25		4,121,022
	6,750,000	Exact Sciences Corp.µ 0.375%, 03/15/27		7,445,317
	7,250,000	Halozyme Therapeutics, Inc.* 1.000%, 08/15/28		7,268,995
	4,250,000	Insmed, Inc. 0.750%, 06/01/28		3,683,390
	4,500,000	Insulet Corp.µ 0.375%, 09/01/26		5,980,230
	9,125,000	Integer Holdings Corp.*µ^ 2.125%, 02/15/28		11,179,129
	4,500,000	Integra LifeSciences Holdings Corp.µ 0.500%, 08/15/25		4,215,420
	4,500,000	Ionis Pharmaceuticals, Inc. 0.000%, 04/01/26		4,249,395
	9,950,000	Jazz Investments I, Ltd. 2.000%, 06/15/26		10,340,736
	3,721,000	Lantheus Holdings, Inc.*µ 2.625%, 12/15/27		4,942,679
	10,250,000	NeoGenomics, Inc.µ 0.250%, 01/15/28		7,596,275


PRINCIPAL AMOUNT			VALUE
	4,250,000	NextGen Healthcare, Inc.*µ 3.750%, 11/15/27	$	4,193,603
	4,000,000	NuVasive, Inc.µ 0.375%, 03/15/25		3,652,800
	8,500,000	Omnicell, Inc.µ 0.250%, 09/15/25		8,167,480
	8,000,000	Pacira BioSciences, Inc.µ 0.750%, 08/01/25		7,388,640
	2,500,000	Repligen Corp.µ^ 0.375%, 07/15/24		3,851,300
	3,750,000	Sarepta Therapeutics, Inc.*µ 1.250%, 09/15/27		3,995,325
	6,750,000	Tandem Diabetes Care, Inc.*µ 1.500%, 05/01/25		6,296,062
	3,932,000	TransMedics Group, Inc.* 1.500%, 06/01/28		4,796,136

				174,149,355


		*Industrials (6.3%)*
	4,250,000	Axon Enterprise, Inc.*µ 0.500%, 12/15/27		4,390,930
	7,250,000	John Bean Technologies Corp. 0.250%, 05/15/26		6,951,807
	4,250,000	Middleby Corp. 1.000%, 09/01/25		5,359,590
	5,000,000	Parsons Corp. 0.250%, 08/15/25		5,854,750
	7,000,000	Southwest Airlines Companyµ^~ 1.250%, 05/01/25		7,725,760
	20,000,000	Uber Technologies, Inc.µ 0.000%, 12/15/25		19,157,400

				49,440,237


		*Information Technology (30.2%)*
	4,500,000	Akamai Technologies, Inc.µ 0.375%, 09/01/27		4,435,695
	9,250,000	Bentley Systems, Inc.µ 0.125%, 01/15/26		9,458,402
	7,500,000	BILL Holdings, Inc.µ 0.000%, 12/01/25		8,067,150
	6,250,000	Camtek Ltd.* 0.000%, 12/01/26		6,382,875
	5,750,000	Confluent, Inc.µ 0.000%, 01/15/27		4,804,240
	7,500,000	CyberArk Software, Ltd.µ 0.000%, 11/15/24		8,811,225
	6,250,000	Datadog, Inc.~ 0.125%, 06/15/25		8,610,312
	6,000,000	DigitalOcean Holdings, Inc.µ 0.000%, 12/01/26		4,788,540
	9,066,000	Enphase Energy, Inc.µ 0.000%, 03/01/26		8,351,690
	5,750,000	Five9, Inc.µ 0.500%, 06/01/25		5,713,488
	13,750,000	Microchip Technology, Inc.µ^ 0.125%, 11/15/24		15,918,925
	2,000,000	MongoDB, Inc.µ~ 0.250%, 01/15/26		4,079,840
		NCL Corp. Ltd.
	6,000,000	1.125%, 02/15/27µ		5,630,880
	4,500,000	2.500%, 02/15/27µ		4,327,830
	3,000,000	5.375%, 08/01/25		4,182,450
		Okta, Inc.µ
	7,500,000	0.125%, 09/01/25		6,832,800
	4,000,000	0.375%, 06/15/26		3,458,160


See accompanying Notes to Schedule of Investments

8


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	17,250,000	ON Semiconductor Corp.*µ 0.500%, 03/01/29	$	21,134,182
	5,500,000	Palo Alto Networks, Inc. 0.375%, 06/01/25		13,870,780
	2,000,000	Q2 Holdings, Inc.µ 0.750%, 06/01/26		1,757,940
	11,250,000	Repay Holdings Corp.*µ 0.000%, 02/01/26		9,298,125
	13,750,000	Shift4 Payments, Inc.µ 0.000%, 12/15/25		14,956,975
	3,600,000	SK Hynix, Inc. 1.750%, 04/11/30		4,733,280
	11,500,000	Splunk, Inc.µ 1.125%, 06/15/27		9,930,250
	10,000,000	Tyler Technologies, Inc.^ 0.250%, 03/15/26		10,051,600
	12,250,000	Unity Software, Inc.µ 0.000%, 11/15/26		9,830,625
	6,250,000	Wix.com, Ltd. 0.000%, 08/15/25		5,566,188
		Wolfspeed, Inc.µ
	8,750,000	1.875%, 12/01/29*		7,587,388
	5,338,000	0.250%, 02/15/28		4,462,248
	8,000,000	Zscaler, Inc. 0.125%, 07/01/25		9,844,800

				236,878,883


		*Materials (2.5%)*
	1,500,000	ATI, Inc. 3.500%, 06/15/25		4,672,125
	3,500,000	Ivanhoe Mines, Ltd.* 2.500%, 04/15/26		5,338,270
	4,991,000	Lithium Americas Corp.µ 1.750%, 01/15/27		3,852,553
	6,306,000	MP Materials Corp.*µ 0.250%, 04/01/26		5,731,460

				19,594,408


		*Other (0.0%)*
	475,000	Multiplan Corp.* 6.000%, 10/15/27 7.000% PIK rate7.000% PIK rate		324,078


		*Real Estate (0.7%)*
	6,000,000	Pebblebrook Hotel Trustµ^ 1.750%, 12/15/26		5,240,040


		*Utilities (3.0%)*
	4,250,000	CMS Energy Corp.*µ 3.375%, 05/01/28		4,237,973
	15,250,000	PPL Capital Funding, Inc.*µ 2.875%, 03/15/28		14,732,262
	4,250,000	Southern Company* 3.875%, 12/15/25		4,268,488

				23,238,723


		TOTAL CONVERTIBLE BONDS (Cost $782,454,959)		764,524,711


	BANK LOANS (6.4%) ¡

		*Airlines (0.2%)*
	760,000	American Airlines, Inc.‡ 10.338%, 04/20/28 3 mo. SOFR + 4.75%		788,181


PRINCIPAL AMOUNT			VALUE
	788,000	Mileage Plus Holdings, LLC‡ 10.764%, 06/21/27 3 mo. LIBOR + 5.25%	$	822,967

				1,611,148


		*Communication Services (0.6%)*
	1,248,000	Clear Channel Outdoor Holdings, Inc.‡ 9.131%, 08/21/26 3 mo. SOFR + 3.50%		1,212,120
	3,250	Clear Channel Outdoor Holdings, Inc.‡ 8.933%, 08/21/26 1 mo. SOFR + 3.50%		3,156
	755,569	CMG Media Corp.‡ 8.842%, 12/17/26 3 mo. SOFR + 3.50%		688,108
	1,326,668	DIRECTV Financing, LLC‡ 10.433%, 08/02/27 1 mo. SOFR + 5.00%		1,320,453
	1,505,000	Entercom Media Corp.‡ 8.131%, 11/18/24 3 mo. SOFR + 2.50%		828,826
	268,649	Nexstar Broadcasting, Inc.‡ 7.933%, 09/18/26 1 mo. SOFR + 2.50%		268,963
	485,000	Telesat Canada‡ 8.183%, 12/07/26 1 mo. SOFR + 2.75%		298,319
	480,150	Univision Communications, Inc.‡ 9.492%, 06/24/29 3 mo. SOFR + 4.25%		480,601

				5,100,546


		*Consumer Discretionary (1.3%)*
	967,575	Caesars Entertainment, Inc.‡ 8.555%, 02/06/30 1 mo. SOFR + 3.25%		969,389
	982,538	Hanesbrands, Inc.‡ 9.055%, 03/08/30 1 mo. SOFR + 3.75%		983,461
	530,816	Life Time Fitness, Inc.‡ 10.050%, 01/15/26 3 mo. SOFR + 4.50%		533,693
	477,180	PENN Entertainment, Inc.‡ 8.169%, 05/03/29 1 mo. SOFR + 2.75%		477,180
	1,605,514	Petco Health and Wellness Company, Inc.‡ 8.754%, 03/03/28 3 mo. SOFR + 3.25%		1,602,351
	2,392,428	PetSmart, Inc.‡ 9.169%, 02/11/28 1 mo. SOFR + 3.75%		2,394,557
	867,000	SkyMiles IP, Ltd.‡ 9.076%, 10/20/27 3 mo. SOFR + 3.75%		902,617
	602,074	TKC Holdings, Inc.‡ 10.933%, 05/15/28 1 mo. LIBOR + 5.50%		567,392
	245,000	Windsor Holdings III, LLC! 0.000%, 06/21/30		244,592


See accompanying Notes to Schedule of Investments

9


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	1,606,500	WW International, Inc.‡ 8.933%, 04/13/28 1 mo. SOFR + 3.50%	$	1,213,574

				9,888,806


		*Consumer Staples (0.1%)*
	500,000	United Natural Foods, Inc.! 0.000%, 10/22/25		501,385


		*Energy (0.1%)*
	957,600	Par Petroleum, LLC‡ 9.614%, 02/28/30 3 mo. SOFR + 4.25%		953,612


		*Financials (1.0%)*
	952,607	Alliant Holdings Intermediate, LLC‡ 8.722%, 11/05/27 1 mo. SOFR + 3.50%		951,911
	725,000	Amynta Agency Borrower, Inc.‡ 10.419%, 02/28/28 1 mo. SOFR + 5.00%		715,999
	992,462	AssuredPartners, Inc.‡ 8.819%, 02/12/27 1 mo. SOFR + 3.50%		988,741
	740,000	Avolon TLB Borrower 1 (US), LLC‡ 7.755%, 06/22/28 1 mo. SOFR + 2.50%		741,077
	472,625	Castlelake Aviation, Ltd.‡ 8.004%, 10/22/27 3 mo. SOFR + 2.75%		472,963
	955,200	Hub International, Ltd.‡ 9.060%, 11/10/29 3 mo. SOFR + 4.00%		958,281
	1,766,452	Jazz Financing Lux Sarl‡ 8.933%, 05/05/28 1 mo. LIBOR + 3.50%		1,766,575
	1,331,550	VFH Parent, LLC‡ 8.405%, 01/13/29 1 mo. SOFR + 3.00%		1,327,222

				7,922,769


		*Health Care (0.7%)*
	1,682,245	Amneal Pharmaceuticals, LLC‡ 8.933%, 05/04/25 1 mo. SOFR + 3.50%		1,604,441
	232,750	Bausch Health Companies, Inc.‡ 10.605%, 02/01/27 1 mo. SOFR + 5.25%		190,643
	571,087	ICON Luxembourg S.A.R.L.‡ 7.754%, 07/03/28 3 mo. SOFR + 2.25%		572,286
	1,001,248	Mallinckrodt International Finance, SA‡ 10.619%, 09/30/27 1 mo. SOFR + 5.25%		760,793
	988,235	Padagis, LLC‡ 10.280%, 07/06/28 3 mo. SOFR + 4.75%		956,943
	142,287	PRA Health Sciences, Inc.‡ 7.754%, 07/03/28 3 mo. SOFR + 2.25%		142,586


PRINCIPAL AMOUNT			VALUE
	2,387,785	Team Health Holdings, Inc.‡ 10.569%, 03/02/27 1 mo. SOFR + 5.25%	$	1,650,975

				5,878,667


		*Industrials (0.7%)*
	470,400	ACProducts, Inc.‡ 9.754%, 05/17/28 3 mo. SOFR + 4.25%		406,073
	608,850	Air Canada‡ 8.839%, 08/11/28 3 mo. LIBOR + 3.50%		609,937
	1,225,738	ChampionX Corp.‡ 8.495%, 06/07/29 1 mo. SOFR + 3.25%		1,231,100
	607,538	Emrld Borrower, LP‡ 8.264%, 05/31/30 3 mo. SOFR + 3.00%		608,680
	1,128,600	Scientific Games International, Inc.‡ 8.302%, 04/14/29 1 mo. SOFR + 3.00%		1,128,509
	522,375	Summit Materials, LLC‡ 8.492%, 12/14/27 6 mo. SOFR + 3.00%		525,966
	933,612	United Airlines, Inc.‡ 9.292%, 04/21/28 3 mo. LIBOR + 3.75%		936,530

				5,446,795


		*Information Technology (0.4%)*
	951,499	Banff Merger Sub, Inc.‡ 9.183%, 10/02/25 1 mo. SOFR + 3.75%		950,315
	807,701	Camelot Finance SA‡ 8.433%, 10/30/26 1 mo. SOFR + 3.00%		807,956
	322,577	Camelot U.S. Acquisition LLC‡ 8.433%, 10/30/26 1 mo. SOFR + 3.00%		322,728
	893,735	II-VI, Inc.‡ 8.183%, 07/02/29 1 mo. SOFR + 2.75%		894,629

				2,975,628


		*Information Technology (0.2%)*
	243,775	CDK Global, Inc.‡ 9.492%, 07/06/29 3 mo. SOFR + 4.25%		244,167
	964,737	Dun & Bradstreet Corp.‡ 8.291%, 02/06/26 1 mo. SOFR + 3.00%		964,887

				1,209,054


		*Materials (0.7%)*
	304,116	American Axle and Manufacturing, Inc.‡ 8.777%, 12/13/29 1 mo. SOFR + 3.50%		304,244
	229,630	American Axle and Manufacturing, Inc.‡ 8.777%, 12/13/29 1 mo. SOFR + 3.50%		229,726


See accompanying Notes to Schedule of Investments

10


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


PRINCIPAL AMOUNT			VALUE
	229,630	American Axle and Manufacturing, Inc.‡ 8.437%, 12/13/29 6 mo. SOFR + 3.50%	$	229,726
	975,000	Ineos US Finance, LLC‡ 8.805%, 02/18/30 1 mo. SOFR + 3.50%		966,167
	1,188,781	Innophos, Inc.‡ 8.683%, 02/05/27 1 mo. SOFR + 3.25%		1,190,642
	483,875	LSF11 A5 HoldCo, LLC‡ 8.933%, 10/15/28 1 mo. SOFR + 3.50%		480,045
	480,000	LSF11 A5 Holdco, LLC‡ 9.669%, 10/15/28 1 mo. SOFR + 4.25%		479,100
	498,727	Trinseo Materials Operating SCA! 0.000%, 05/03/28		397,700
	986,285	WR Grace Holdings LLC‡ 9.313%, 09/22/28 3 mo. LIBOR + 3.75%		986,161

				5,263,511


		*Special Purpose Acquisition Companies (0.4%)*
	857,500	AP Core Holdings II, LLC‡ 10.933%, 09/01/27 1 mo. SOFR + 5.50%		831,599
	475,200	Clydesdale Acquisition Holdings, Inc.‡ 9.594%, 04/13/29 1 mo. SOFR + 4.18%		471,510
	241,938	Fertitta Entertainment, LLC‡ 9.319%, 01/27/29 1 mo SOFR + 4.00%		239,752
	1,022,275	Oscar AcquisitionCo, LLC‡ 9.842%, 04/29/29 3 mo. SOFR + 4.50%		1,010,570
	992,500	Patagonia Holdco, LLC‡ 10.789%, 08/01/29 3 mo. SOFR + 5.75%		857,689

				3,411,120


		TOTAL BANK LOANS (Cost $52,067,314)		50,163,041


NUMBER OF SHARES			VALUE

	CONVERTIBLE PREFERRED STOCKS (6.8%)

		*Energy (0.0%)*
	26	Gulfport Energy Corp. 10.000%, 08/31/23 15.000% PIK rate		191,750


		*Financials (1.8%)*
	8,100	Bank of America Corp.‡ ‡‡ 7.250%, 12/31/49		9,865,800
	63,425	KKR & Company, Inc. 6.000%, 09/15/23		4,430,870

				14,296,670


		*Industrials (0.7%)*
	75,625	Chart Industries, Inc. 6.750%, 12/15/25		5,459,369


NUMBER OF SHARES			VALUE

		*Utilities (4.3%)*
	141,020	AES Corp.^ 6.875%, 02/15/24	$	12,069,902
		NextEra Energy, Inc.
	265,160	6.219%, 09/01/23		13,125,420
	180,300	6.926%, 09/01/25		8,245,119

				33,440,441


		TOTAL CONVERTIBLE PREFERRED STOCKS (Cost $56,373,324)		53,388,230


	WARRANTS (0.0%) #

		*Energy (0.0%)*
	47,739	Mcdermott International, Ltd.& 06/30/27		5
	42,965	Mcdermott International, Ltd. 06/30/27		4


		TOTAL WARRANTS (Cost $18,376)		9


	COMMON STOCKS (0.5%)

		*Communication Services (0.0%)*
	20,285	Altice USA, Inc. - Class Aµ#		68,766
	6,819	Cumulus Media, Inc. - Class Aµ#		43,233
	1	Frontier Communications Parent, Inc.µ#		18

				112,017


		*Energy (0.5%)*
	8,836	Chaparral Energy, Inc. - Class A&#		375,530
	2,869	Chesapeake Energy Corp.^		241,972
	67,000	Energy Transfer, LP		890,430
	39,795	Enterprise Products Partners, LP		1,054,965
	6,644	EP Energy Corp.&#		46,508
	12,830	Magellan Midstream Partners, LP		850,244

				3,459,649


		*Health Care (0.0%)*
	14,466	Mallinckrodt, PLC^#		23,435


		*Special Purpose Acquisition Company (0.0%)*
	11,411	Intelsat Emergence, SA&#		262,453


		TOTAL COMMON STOCKS (Cost $6,053,623)		3,857,554


	PREFERRED STOCKS (0.4%)

		*Consumer Discretionary (0.1%)*
	6,122	Guitar Center, Inc.&		780,555


		*Energy (0.3%)*
	37,195	NuStar Energy, LP‡ 11.151%, 08/30/23 3 mo. USD LIBOR + 5.64%		903,094
	16,794	NuStar Energy, LP‡ 12.274%, 08/30/23 3 mo. USD LIBOR + 6.77%		429,255


See accompanying Notes to Schedule of Investments

11


Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2023 (UNAUDITED)


NUMBER OF SHARES			VALUE
	43,000	NuStar Logistics, LP‡ 12.304%, 01/15/43 3 mo. USD SOFR + 7.00%	$	1,129,610

				2,461,959


		TOTAL PREFERRED STOCKS (Cost $3,206,860)		3,242,514


	RIGHTS (0.0%) #

		*Communication Services (0.0%)*
	2	Intelsat Jackson Holdings, SA, (Expires 12/5/25)		—
	2	Intelsat Jackson Holdings, SA, (Expires 12/5/25)		—


		TOTAL RIGHTS (Cost $—)		—


PRINCIPAL AMOUNT			VALUE

	ASSET BACKED SECURITY (0.1%)

		*Other (0.1%)*
	765,000	SVC ABS, LLC Series 2023-1A, Class C* 6.700%, 02/20/53 (Cost $700,584)		689,130


NUMBER OF CONTRACTS/ NOTIONAL AMOUNT			VALUE

	PURCHASED OPTIONS (0.2%) #

		*Consumer Discretionary (0.1%)*
	580 7,753,440	Amazon.com, Inc. Call, 01/19/24, Strike $127.50		1,009,200


		*Information Technology (0.1%)*
	300 7,498,800	Palo Alto Networks, Inc. Call, 01/19/24, Strike $250.00		810,000


		TOTAL PURCHASED OPTIONS (Cost $1,579,635)		1,819,200


		VALUE

	TOTAL INVESTMENTS (150.5%) (Cost $1,228,318,074)	$	1,180,434,295


MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-17.0%)			(133,000,000)


LIABILITIES, LESS OTHER ASSETS (-33.5%)			(262,834,475)


NET ASSETS (100.0%)		$	784,599,820

NOTES TO SCHEDULE OF INVESTMENTS

Securities issued and sold pursuant to a Rule 144A transaction are exempted from the registration requirement of the Securities Act of 1933, as amended. These securities may only be sold to qualified institutional buyers (“QIBs”), such as the Fund. Any resale of these securities must generally be effected through a sale that is registered under the Act or otherwise exempted from such registration requirements.

µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $452,287,751.

@	In default status and considered non-income producing.

&	Illiquid security.

^	Security, or portion of security, is on loan.

‡	Variable rate security. The rate shown is the rate in effect at July 31, 2023.

~	Security, or portion of security, is segregated as collateral (or potential collateral for future transactions) for written options. The aggregate value of such securities is $9,677,847.

¡	Bank loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be substantially less than the stated maturities shown.

!	This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date.

‡‡	Perpetual maturity.

#	Non-income producing security.

Note: The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.


See accompanying Notes to Schedule of Investments

12

Notes to Schedule of Investments (Unaudited)

Note 1 – Organization and Significant Accounting Policies

Organization. Calamos Convertible Opportunities and Income Fund (the “Fund”, or “Trust”) was organized as a Delaware statutory trust on April 17, 2002 and is registered under the Investment Company Act of 1940 (the “1940 Act”) as a diversified, closed-end management investment company. The Fund commenced operations on June 26, 2002.

The Fund’s investment strategy is to provide total return through a combination of capital appreciation and current income. Under normal circumstances, the Fund will invest at least 80% of its managed assets in a diversified portfolio of convertibles and non-convertible income securities and under normal circumstances, the Fund will invest at least 35% of its managed assets in convertible securities. The Fund invests in securities with a broad range of maturities. The average term to maturity of the Fund’s securities typically will range from five to ten years. A substantial portion of the Fund’s assets may be invested in below investment grade (high yield, high risk) securities. “Managed assets” means the Fund’s total assets (including any assets attributable to any leverage that may be outstanding) minus total liabilities (other than debt representing financial leverage).

Significant Accounting Policies. The Schedule of Investments has been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and the Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The following summarizes the significant accounting policies of the Fund:

Fund Valuation. The Trust’s Board of Trustees, including a majority of the Trustees who are not “interested persons” of the Trust, have designated Calamos Advisors LLC (“Calamos Advisors”, or the “Advisor”) to perform fair valuation determinations related to all Fund investments under the oversight of the Board. As “valuation designee” the Calamos Advisors has adopted procedures to guide the determination of the NAV on any day on which the Fund’s NAVs are determined. The valuation of the Fund’s investments is in accordance with these procedures.

Fund securities that are traded on U.S. securities exchanges, except option securities, are valued at the official closing price, which is the last current reported sales price on its principal exchange at the time the Fund determines its net asset value (“NAV”). Securities traded in the over-the-counter market and quoted on The NASDAQ Stock Market are valued at the NASDAQ Official Closing Price, as determined by NASDAQ, or lacking a NASDAQ Official Closing Price, the last current reported sale price on NASDAQ at the time the Fund determines its NAV. When a last sale or closing price is not available, equity securities, other than option securities, that are traded on a U.S. securities exchange and other equity securities traded in the over-the-counter market are valued at the mean between the most recent bid and asked quotations on its principal exchange in accordance with guidelines adopted by the Board of Trustees. Each option security traded on a U.S. securities exchange is valued at the mid-point of the consolidated bid/ask quote for the option security, also in accordance with guidelines adopted by the Board of Trustees. Each over-the-counter option that is not traded through the Options Clearing Corporation is valued either by an independent pricing agent approved by the Board of Trustees or based on a quotation provided by the counterparty to such option under the ultimate supervision of the Board of Trustees.

Fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives are normally valued by independent pricing services or by dealers or brokers who make markets in such securities. Valuations of such fixed income securities, bank loans, certain convertible preferred securities, and non-exchange traded derivatives consider yield or price of equivalent securities of comparable quality, coupon rate, maturity, type of issue, trading characteristics and other market data and do not rely exclusively upon exchange or over-the-counter prices.

Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the New York Stock Exchange (“NYSE”) is open. Each security trading on these exchanges or in over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the Board of Trustees. The valuation of each security that meets certain criteria in relation to the valuation model is systematically adjusted to reflect the impact of movement in the U.S. market after the foreign markets close. Securities that do not meet the criteria, or that are principally traded in other foreign markets, are valued as of the last reported sale price at the time the Fund determines its NAV, or when reliable market prices or quotations are not readily available, at the mean between the most recent bid and asked quotations as of the close of the appropriate exchange or other designated time. Trading of foreign securities may not take place on every NYSE business day. In addition, trading may take place in various foreign markets on Saturdays or on other days when the NYSE is not open and on which the Fund’s NAV is not calculated.

If the pricing committee determines that the valuation of a security in accordance with the methods described above is not reflective of a fair value for such security, the security is valued at a fair value by the pricing committee.

The Fund also may use fair value pricing, pursuant to guidelines adopted by Calamos Advisors, if trading in the security is halted or if the value of a security it holds is materially affected by events occurring before the Fund’s pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by Calamos Advisors, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.

When fair value pricing of securities is employed, the prices of securities used by the Fund to calculate its NAV may differ from market quotations or official closing prices. There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund’s net asset value (“NAV”).

Foreign Currency Translation. Values of investments and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars using a rate quoted by a major bank or dealer in the particular currency market, as reported by a recognized quotation dissemination service.

Option Transactions. For hedging and investment purposes, the Fund may purchase or write (sell) put and call options. One of the risks associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of premium and change in value should the counterparty not perform under the contract. The Fund as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option.

Note 2 – Investments

The cost basis of investments for federal income tax purposes at July 31, 2023 was as follows:*


Cost basis of investments			$1,228,318,074

Gross unrealized appreciation			59,860,564
Gross unrealized depreciation			(107,744,343)

Net unrealized appreciation (depreciation)			$(47,883,779)

* Because tax adjustments are calculated annually, the above table does not reflect tax adjustments. For the previous fiscal year’s federal income tax information, please refer to the Notes to Financial Statements section in the Fund’s most recent semi-annual or annual report.

Note 3 – Mandatory Redeemable Preferred Shares

The Fund has MRPS issued with an aggregate liquidation preference of $133,000,000, divided into four series with different mandatory redemption dates and dividend rates.

The table below summarizes the key terms of each series of the MRPS at July 31, 2023.


Series	Term Redemption Date	Dividend Rate	Shares (000’s)	Liquidation Preference Per Share	Aggregate Liquidation Preference
Series B	9/06/24	4.00%	1,330	$25	$33,250,000
Series C	9/06/27	4.24%	1,340	$25	$33,500,000
Series D	8/24/26	2.45%	1,320	$25	$33,000,000
Series E	5/24/27	2.68%	1,330	$25	$33,250,000
				Total	$133,000,000

On September 6, 2022, $33,250,000 of Series A MRPS were redeemed at $25.01 per share.

The MRPS are not listed on any exchange or automated quotation system. The MRPS are considered debt of the issuer; therefore, the liquidation preference, which approximates fair value of the MRPS, is recorded as a liability in the Statement of Assets and Liabilities net of deferred offering costs. The MRPS are categorized as Level 2 within the fair value hierarchy.

During the period ended July 31, 2023, all MRPS were rated `AA-’ by Kroll Bond Rating Agency LLC (“KBRA”). If the ratings of the MRPS are downgraded, the Fund’s dividend expense may increase, as described below.

Holders of MRPS are entitled to receive monthly cumulative cash dividends payable on the first business day of each month. The MRPS currently are rated “AA-” by KBRA. If on the first day of a monthly dividend period the MRPS of any class are rated lower than “A” by KBRA, the dividend rate for such period shall be increased by 0.5%, 2.0% or 4.0% according to an agreed upon schedule. The MRPS’ dividend rate is also subject to increase during periods when the Fund has not made timely payments to MRPS holders and/or the MRPS do not have a current credit rating, subject to various terms and conditions. Dividends accrued and paid to the shareholders of MRPS are included in “Interest expense and amortization of offering costs on Mandatory Redeemable Preferred Shares” within the Statement of Operations.

With regard to the Series B and C MRPS, so long as any MRPS are outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than non-cash distributions) with respect to Fund shares ranking junior to or on parity with the MRPS, unless (1) the Fund has satisfied the MRPS Overcollateralization Test (as defined below) on at least one “valuation date” in the preceding 65 calendar days, (2) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test (as defined below), (3) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the holders of MRPS and (4) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption or deposited sufficient monies with the Fund’s paying agent for that purpose, subject to certain grace periods and exceptions.

MRPS Asset Coverage Test: Asset coverage with respect to all outstanding senior securities and preferred shares, including the MRPS, determined in accordance with Section 18(h) of the 1940 Act, on the basis of values calculated as of a time within 48 hours (not including Sundays or holidays) next preceding the time of determination, must be greater than or equal to 225%.

MRPS Overcollateralization Test: So long as Fitch or any other NSRSO, such as KBRA, is then rating any class of the outstanding MRPS pursuant to the request of the Fund, satisfaction of only those overcollateralization ratios applicable to closed-end fund issuers with the same rating(s) as the Fund’s MRPS’ then-current rating(s) issued by Fitch or such other NSRSO, such as KBRA, by application of the applicable rating agency guidelines.

With regard to Series D and E MRPS, for so long as any MRPS are Outstanding, the Fund will not declare, pay or set apart for payment any dividend or other distribution (other than a dividend or distribution paid in shares of, or options, warrants or rights to subscribe for or purchase, Common Shares or other shares of beneficial interest, if any, ranking junior to the MRPS as to dividends or upon liquidation (collectively “non-cash distributions”) with respect to Common Shares or any other shares of the Series or Fund ranking junior to or on a parity with the MRPS as to dividends or upon liquidation, or call for redemption, redeem, purchase or otherwise acquire for consideration any Common Shares or any other such junior shares (except by conversion into or exchange for shares of the Fund ranking junior to the MRPS as to dividends and upon liquidation) or any such parity shares (except by conversion into or exchange for shares of the Fund ranking junior to or on a parity with the MRPS as to dividends and upon liquidation), unless (1) immediately after such transaction the Fund would satisfy the MRPS Asset Coverage Test, (2) full cumulative dividends on the MRPS due on or prior to the date of the transaction have been declared and paid to the Holders of MRPS, and (3) the Fund has redeemed the full number of MRPS required to be redeemed by any provision for mandatory redemption contained in Section 3(a) or deposited sufficient monies with the Paying Agent for that purpose (without regard to the provisions of the Special Proviso); provided that the Fund may make any distributions reasonably necessary for the Fund to continue to qualify as a “regulated investment company” under Subchapter M of the Internal Revenue Code and to avoid excise tax under Section 4982 of the Internal Revenue Code (“Tax Required Payments”). For the avoidance of doubt, any such Tax Required Payments would only be paid to holders of Common Shares after full cumulative dividends due on or prior to the date of the applicable distribution and any mandatory redemptions occurring on or prior to the date of the applicable distribution have been paid to the holders of MRPS.

Except as otherwise required pursuant to the Fund’s governing documents or applicable law, the holders of the MRPS have one vote per share and vote together with the holders of common stock of the Fund as a single class except on matters affecting only the holders of MRPS or the holders of common stock. Pursuant to the 1940 Act, holders of the MRPS have the right to elect at least two trustees of the Fund, voting separately as a class. Except during any time when the Fund has failed to make a dividend or redemption payment in respect of MRPS outstanding, the holders of MRPS have agreed to vote in accordance with the recommendation of the board of trustees on any matter submitted to them for their vote or to the vote of shareholders of the Fund generally.

Calamos Convertible Opportunities and Income Fund (CHI) NPORT-PMonthly portfolio investment report