Calamos Convertible Opportunities and Income Fund (CHI) NPORT-PCalamos Convertible Opportunities & Income Fund (Jan 2024 report)

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

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 $707,132)		$	703,925
Corporate Bonds (40.6%)
				Airlines (0.6%)
	879,561			Alaska Airlines Pass Through Trust Series 2020-1, Class A*µ
				4.800%, 02/15/29			853,807
	413,374			Alaska Airlines Pass Through Trust Series 2020-1, Class B*
				8.000%, 02/15/27			417,640
	999,940			American Airlines Pass Through Trust Series 2021-1, Class B
				3.950%, 01/11/32			892,117
	537,750			American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
				5.500%, 04/20/26			532,873
	937,965			British Airways Pass Through Trust Series 2021-1, Class B*
				3.900%, 03/15/33			851,025
	765,300			JetBlue Pass Through Trust Series 2020-1, Class B
				7.750%, 05/15/30			771,897
							4,319,359
				Communication Services (4.3%)
	500,000			Altice France Holding, SA*
				10.500%, 05/15/27			288,925
	1,100,000			Altice France, SA*
				5.500%, 10/15/29			812,471
	1,160,000			APi Group DE, Inc.*
				4.750%, 10/15/29			1,086,247
	1,025,000			Ashtead Capital, Inc.*
				2.450%, 08/12/31			835,283
				Audacy Capital Corp.* @
	1,193,000			6.750%, 03/31/29			48,161
	448,000			6.500%, 05/01/27			19,116
	856,000			Cincinnati Bell Telephone Company, LLC
				6.300%, 12/01/28			759,229
	940,000			Clear Channel Outdoor Holdings, Inc.*
				9.000%, 09/15/28			982,291
	1,345,000			Consolidated Communications, Inc.*
				6.500%, 10/01/28			1,171,912
				CSC Holdings, LLC*
	1,450,000			5.375%, 02/01/28			1,248,029
	1,350,000			4.625%, 12/01/30			698,625
	1,125,000			4.500%, 11/15/31			808,504
	1,100,000			5.750%, 01/15/30			584,133
	950,000			5.500%, 04/15/27			854,155
				Diamond Sports Group, LLC / Diamond Sports Finance Company*@
	750,000			6.625%, 08/15/27			51,323
	540,000			5.375%, 08/15/26			38,113
	1,207,000			Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
				5.875%, 08/15/27			1,147,700
	1,000,000			Frontier California, Inc.
				6.750%, 05/15/27			967,170
				Frontier Communications Holdings, LLC*
	605,000			5.000%, 05/01/28			559,008
	239,000			8.750%, 05/15/30			244,906
	1,039,000			Frontier Florida, LLC@
				6.860%, 02/01/28			1,001,191
	1,445,000			Frontier North, Inc.@
				6.730%, 02/15/28			1,386,188
				Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
	835,000			3.500%, 03/01/29			756,276
	250,000			5.250%, 12/01/27			245,620
				iHeartCommunications, Inc.
	595,000			8.375%, 05/01/27			372,226
	355,000			5.250%, 08/15/27*			276,023
	1,215,000			LCPR Senior Secured Financing DAC*
				6.750%, 10/15/27			1,178,185
	722,947			Ligado Networks, LLC*
				15.500%, 11/01/23
				15.500% PIK rate			124,491
				Lumen Technologies, Inc.
	720,000			7.600%, 09/15/39			191,614
	485,000			4.000%, 02/15/27*^			256,769
	240,000			7.650%, 03/15/42			66,173
	478,000			Match Group Holdings II, LLC*^
				3.625%, 10/01/31			409,440
	810,000			Nexstar Media, Inc.*
				5.625%, 07/15/27			788,567
	930,000			Paramount Global
				4.900%, 08/15/44			735,723
	336,000			Qwest Corp.
				7.250%, 09/15/25			329,364
				Scripps Escrow II, Inc.*
	477,000			3.875%, 01/15/29			414,928
	239,000			5.375%, 01/15/31			183,753
	810,000			Scripps Escrow, Inc.*
				5.875%, 07/15/27			731,025
				Sirius XM Radio, Inc.*
	1,250,000			5.500%, 07/01/29			1,189,750
	963,000			4.000%, 07/15/28			874,963
	475,000			3.125%, 09/01/26			444,239
	239,000			3.875%, 09/01/31			199,575
	874,000			Spanish Broadcasting System, Inc.*
				9.750%, 03/01/26			464,784
	2,430,000			Sprint, LLCµ
				7.125%, 06/15/24			2,441,956
	1,080,000			Stagwell Global, LLC*
				5.625%, 08/15/29			991,472
	953,000			Telesat Canada / Telesat, LLC*
				4.875%, 06/01/27			565,100
	385,000			Time Warner Cable, LLC
				7.300%, 07/01/38			404,077
	1,100,000			United States Cellular Corp.
				6.700%, 12/15/33			1,134,177
	724,000			Univision Communications, Inc.*
				8.000%, 08/15/28			736,851

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	480,000			Viasat, Inc.*^
				5.625%, 04/15/27		$	450,629
							32,550,430
				Consumer Discretionary (8.7%)
	1,162,000			Abercrombie & Fitch Management Company*
				8.750%, 07/15/25			1,183,253
	955,000			Adams Homes, Inc.*
				9.250%, 10/15/28			978,799
	1,195,000			Adient Global Holdings Company*^
				8.250%, 04/15/31			1,263,258
	764,000			American Axle & Manufacturing, Inc.
				6.875%, 07/01/28			747,521
				Ashton Woods USA, LLC / Ashton Woods Finance Company*
	837,000			4.625%, 08/01/29			762,674
	705,000			6.625%, 01/15/28			699,402
	1,208,000			At Home Group, Inc.*
				4.875%, 07/15/28			534,117
				Bath & Body Works, Inc.
	1,264,000			6.694%, 01/15/27			1,285,071
	720,000			6.875%, 11/01/35			720,410
	400,000			Benteler International AG*^
				10.500%, 05/15/28			428,928
				Caesars Entertainment, Inc.*
	604,000			4.625%, 10/15/29			552,086
	472,000			8.125%, 07/01/27			484,796
				Carnival Corp.*
	481,000			7.625%, 03/01/26			488,802
	481,000			4.000%, 08/01/28			446,147
	60,000			7.000%, 08/15/29^			62,480
				Carvana Company*
	195,000			14.000%, 06/01/31			174,075
	165,000			13.000%, 06/01/30			147,122
	110,000			12.000%, 12/01/28			97,689
				CCO Holdings, LLC / CCO Holdings Capital Corp.*
	2,130,000			5.125%, 05/01/27			2,055,897
	1,685,000			4.500%, 08/15/30			1,464,602
	1,100,000			6.375%, 09/01/29^			1,071,543
	1,055,000			4.750%, 03/01/30			938,043
	951,000			4.250%, 02/01/31			802,749
	565,000			5.000%, 02/01/28			533,756
	478,000			4.750%, 02/01/32			410,463
	478,000			CDI Escrow Issuer, Inc.*
				5.750%, 04/01/30			463,005
	750,000			Cedar Fair, LP
				5.250%, 07/15/29			717,877
	478,000			Churchill Downs, Inc.*
				6.750%, 05/01/31			484,859
				Dana, Inc.
	790,000			4.250%, 09/01/30			691,527
	723,000			4.500%, 02/15/32			622,648
				DISH DBS Corp.
	1,010,000			5.125%, 06/01/29			376,649
	720,000			5.250%, 12/01/26*			568,577
	595,000			7.375%, 07/01/28			263,335
	480,000			5.750%, 12/01/28*			323,794
	408,000			7.750%, 07/01/26			241,438
	946,000			DISH Network Corp.*
				11.750%, 11/15/27			988,031
	1,365,000			Empire Resorts, Inc.*
				7.750%, 11/01/26			1,265,887
	1,058,000			Everi Holdings, Inc.*
				5.000%, 07/15/29			973,519
	1,000,000			Ford Motor Company^
				6.100%, 08/19/32			1,000,650
				Ford Motor Credit Company, LLC
	1,525,000			4.000%, 11/13/30			1,360,986
	1,245,000			7.200%, 06/10/30^			1,324,095
	1,150,000			5.113%, 05/03/29			1,117,765
	865,000			7.350%, 11/04/27			909,937
	800,000			2.900%, 02/16/28			720,368
	359,000			Gap, Inc.*
				3.875%, 10/01/31			296,681
	490,000			General Motors Company
				5.200%, 04/01/45			444,621
				goeasy, Ltd.*
	1,700,000			9.250%, 12/01/28			1,811,843
	881,000			4.375%, 05/01/26			843,029
	515,000			Goodyear Tire & Rubber Company^
				5.250%, 07/15/31			469,217
	407,000			Group 1 Automotive, Inc.*
				4.000%, 08/15/28			375,844
	1,026,000			Guitar Center, Inc.*^&
				8.500%, 01/15/26			911,642
	770,000			International Game Technology, PLC*
				6.250%, 01/15/27			775,113
	262,459			JetBlue Pass Through Trust Series 2019-2, Class B
				8.000%, 11/15/27			264,611
	842,000			Kohl's Corp.
				5.550%, 07/17/45			574,598
	955,000			LCM Investments Holdings II, LLC*
				8.250%, 08/01/31			980,632
	965,000			Liberty Interactive, LLC
				8.250%, 02/01/30			515,561
	937,000			Life Time, Inc.*^
				8.000%, 04/15/26			947,850
	480,000			Light & Wonder International, Inc.*
				7.500%, 09/01/31			500,203
	360,000			Lindblad Expeditions Holdings, Inc.*
				9.000%, 05/15/28			374,436
	616,000			Lindblad Expeditions, LLC*
				6.750%, 02/15/27			616,468
	635,000			M/I Homes, Inc.
				3.950%, 02/15/30			569,506
				Macy's Retail Holdings, LLC
	1,121,000			6.700%, 07/15/34*			943,378
	970,000			4.300%, 02/15/43^			736,511
	805,000			Mclaren Finance, PLC*
				7.500%, 08/01/26			713,866
	1,219,000			Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
				4.875%, 05/01/29			1,131,744
	575,000			Newell Brands, Inc.
				5.200%, 04/01/26			559,958
				Nordstrom, Inc.
	500,000			5.000%, 01/15/44			361,295
	465,000			4.250%, 08/01/31			388,247
	1,449,000			Patrick Industries, Inc.*
				4.750%, 05/01/29			1,336,427
	1,105,000			PENN Entertainment, Inc.*^
				4.125%, 07/01/29			950,488

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				PetSmart, Inc. / PetSmart Finance Corp.*
	300,000			7.750%, 02/15/29		$	291,576
	300,000			4.750%, 02/15/28			280,428
	1,340,000			Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*^
				5.625%, 09/01/29			1,010,038
	470,000			QVC, Inc.
				5.450%, 08/15/34			312,339
	480,000			Raising Cane's Restaurants, LLC*
				9.375%, 05/01/29			514,781
	1,880,000			Rite Aid Corp.*@
				8.000%, 11/15/26			1,428,217
	478,000			Royal Caribbean Cruises, Ltd.*
				7.250%, 01/15/30			498,449
	1,350,000			Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
				4.625%, 03/01/29			1,163,889
	1,445,000			Six Flags Entertainment Corp.*
				7.250%, 05/15/31			1,475,605
	1,090,000			Sonic Automotive, Inc.*^
				4.625%, 11/15/29			987,333
	698,000			Speedway Motorsports, LLC / Speedway Funding II, Inc.*
				4.875%, 11/01/27			662,625
	1,965,000			Station Casinos, LLC*
				4.500%, 02/15/28			1,854,233
	237,000			Stl Holding Company, LLC*
				8.750%, 02/15/29			241,344
	589,000			Taylor Morrison Communities, Inc.*
				5.750%, 01/15/28			587,039
	240,000			Viking Cruises, Ltd.*
				9.125%, 07/15/31			257,167
	1,100,000			Vista Outdoor, Inc.*^
				4.500%, 03/15/29			1,081,663
				ZF North America Capital, Inc.*
	950,000			7.125%, 04/14/30			1,002,687
	300,000			6.875%, 04/14/28			309,222
							65,101,034
				Consumer Staples (2.0%)
	1,090,000			1375209 B.C., Ltd.*^
				9.000%, 01/30/28			1,058,815
	1,413,000			Arrow Bidco, LLC*
				10.750%, 06/15/25			1,463,882
	970,000			B&G Foods, Inc.*
				8.000%, 09/15/28			1,012,787
	1,099,000			Central Garden & Pet Company*
				4.125%, 04/30/31			973,263
	1,092,000			Edgewell Personal Care Company*
				4.125%, 04/01/29			999,726
				Energizer Holdings, Inc.*
	1,331,000			4.375%, 03/31/29			1,205,274
	240,000			6.500%, 12/31/27			239,232
				JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
	1,415,000			5.500%, 01/15/30^			1,385,257
	595,000			5.125%, 02/01/28µ			590,377
	370,000			5.750%, 04/01/33			366,892
	476,407			Mallinckrodt International Finance SA / Mallinckrodt CB, LLC*
				14.750%, 11/14/28			519,507
	621,000			New Albertsons, LP
				7.750%, 06/15/26			637,400
	957,000			Performance Food Group, Inc.*
				4.250%, 08/01/29			877,665
	700,000			Pilgrim's Pride Corp.
				4.250%, 04/15/31			631,547
	442,000			Post Holdings, Inc.*
				5.750%, 03/01/27			440,661
	909,000			Prestige Brands, Inc.*
				3.750%, 04/01/31			792,439
	815,000			United Natural Foods, Inc.*^
				6.750%, 10/15/28			685,822
	1,500,000			Vector Group, Ltd.*
				5.750%, 02/01/29			1,385,385
							15,265,931
				Energy (5.2%)
	479,000			Antero Resources Corp.*
				5.375%, 03/01/30			457,498
	958,000			Apache Corp.
				5.100%, 09/01/40			823,880
	500,000			Buckeye Partners, LP
				5.850%, 11/15/43			413,000
	1,335,000			Callon Petroleum Company*
				7.500%, 06/15/30			1,407,303
	477,000			Cheniere Energy, Inc.µ
				4.625%, 10/15/28			462,222
	720,000			Chesapeake Energy Corp.*
				6.750%, 04/15/29			728,798
	1,341,000			Civitas Resources, Inc.*
				8.750%, 07/01/31			1,431,236
				Continental Resources, Inc.*
	715,000			2.875%, 04/01/32			584,041
	475,000			5.750%, 01/15/31			472,938
	742,000			DT Midstream, Inc.*
				4.125%, 06/15/29			682,336
				Earthstone Energy Holdings, LLC*
	941,000			8.000%, 04/15/27			975,215
	360,000			9.875%, 07/15/31			400,050
	555,000			Enbridge, Inc.^‡
				7.375%, 01/15/83
				5 year CMT + 3.71%			555,977
				Energy Transfer, LP‡
	1,400,000			8.586%, 11/01/66
				3 mo. USD SOFR + 3.28%			1,250,634
	700,000			6.500%, 02/01/36
				5 year CMT + 5.69%			677,026
				EnLink Midstream Partners, LP
	1,235,000			9.756%, 02/01/36‡
				3 mo. USD LIBOR + 4.11%			1,167,421
	1,015,000			4.850%, 07/15/26			997,390
	600,000			Enlink Midstream, LLC*
				6.500%, 09/01/30			614,790
	1,580,000			EQM Midstream Partners, LP*
				7.500%, 06/01/27			1,626,041
				Genesis Energy, LP / Genesis Energy Finance Corp.
	719,000			8.875%, 04/15/30			752,714
	478,000			6.250%, 05/15/26			476,140
				Gulfport Energy Corp.
	955,000			8.000%, 05/17/26*			964,359
	288,135			8.000%, 05/17/26			290,959

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,340,000			Hilcorp Energy I, LP / Hilcorp Finance Company*
				6.000%, 04/15/30		$	1,302,038
	717,000			Howard Midstream Energy Partners, LLC*
				6.750%, 01/15/27			719,208
	416,000			Kodiak Gas Services, LLC*
				7.250%, 02/15/29			420,900
	940,000			Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
				6.000%, 08/01/26			929,688
				Moss Creek Resources Holdings, Inc.*
	500,000			10.500%, 05/15/27			514,975
	455,000			7.500%, 01/15/26			453,558
				Nabors Industries, Inc.*
	720,000			7.375%, 05/15/27^			712,361
	360,000			9.125%, 01/31/30			367,340
	720,000			Nabors Industries, Ltd.*
				7.500%, 01/15/28			659,693
	952,000			New Fortress Energy, Inc.*
				6.750%, 09/15/25			940,890
	717,000			Oceaneering International, Inc.
				6.000%, 02/01/28			702,940
	1,025,000			Parkland Corp.*
				5.875%, 07/15/27			1,017,558
	506,000			Patterson-UTI Energy, Inc.
				5.150%, 11/15/29			488,938
	238,000			Permian Resources Operating LLC*
				7.000%, 01/15/32			245,921
	960,000			Plains All American Pipeline, LP‡
				9.751%, 02/01/36
				3 mo. USD LIBOR + 4.11%			951,178
	1,340,000			Rockcliff Energy II, LLC*
				5.500%, 10/15/29			1,248,639
	479,000			Southwestern Energy Company
				4.750%, 02/01/32			444,019
	1,363,250			Transocean, Inc.*
				8.750%, 02/15/30			1,426,382
				Venture Global Calcasieu Pass, LLC*
	600,000			6.250%, 01/15/30			601,662
	240,000			4.125%, 08/15/31			212,609
	240,000			3.875%, 08/15/29			214,531
				Venture Global LNG, Inc.*
	1,195,000			8.375%, 06/01/31			1,210,810
	715,000			8.125%, 06/01/28			724,109
	480,000			9.875%, 02/01/32			504,946
	480,000			9.500%, 02/01/29			510,341
				Vital Energy, Inc.
	608,000			9.750%, 10/15/30			646,474
	570,000			7.750%, 07/31/29*			563,120
	1,000,000			VOC Escrow, Ltd.*
				5.000%, 02/15/28			957,870
	1,195,000			Weatherford International, Ltd.*
				8.625%, 04/30/30			1,223,859
							39,128,525
				Financials (6.7%)
	1,550,000			Acrisure, LLC / Acrisure Finance, Inc.*
				8.250%, 02/01/29			1,555,642
	1,440,000			Aethon United BR, LP / Aethon United Finance Corp.*
				8.250%, 02/15/26			1,436,472
	681,000			AG Issuer, LLC*
				6.250%, 03/01/28			673,216
				Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
	1,675,000			6.750%, 10/15/27			1,640,813
	120,000			7.000%, 01/15/31			121,513
				Ally Financial, Inc.
	1,532,000			4.700%, 02/01/36
				7 year CMT + 3.48%‡			1,223,522
	402,000			8.000%, 11/01/31			445,203
	1,923,000			AmWINS Group, Inc.*
				4.875%, 06/30/29			1,797,409
	726,000			Aviation Capital Group, LLC*µ
				3.500%, 11/01/27			676,879
	1,436,000			BroadStreet Partners, Inc.*
				5.875%, 04/15/29			1,363,396
	1,145,000			Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
				4.500%, 04/01/27			1,015,432
	1,000,000			Burford Capital Global Financial, LLC*
				6.875%, 04/15/30			975,480
				Credit Acceptance Corp.
	925,000			6.625%, 03/15/26^			926,221
	635,000			9.250%, 12/15/28*			669,125
	960,000			Cushman & Wakefield U.S. Borrower LLC*^
				8.875%, 09/01/31			1,008,307
	1,247,000			Enact Holdings, Inc.*µ
				6.500%, 08/15/25			1,244,955
	1,075,000			GGAM Finance, Ltd.*
				8.000%, 02/15/27			1,109,432
	1,197,000			Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
				3.750%, 12/15/27			1,023,638
	1,000,000			GTCR W-2 Merger Sub, LLC*
				7.500%, 01/15/31			1,042,730
	535,000			HAT Holdings I LLC / HAT Holdings II LLC*
				8.000%, 06/15/27			554,929
				HUB International, Ltd.*
	1,430,000			5.625%, 12/01/29			1,350,177
	475,000			7.375%, 01/31/32			486,182
	718,000			Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
				4.375%, 02/01/29			600,772
	1,300,000			ILFC E-Capital Trust II*‡
				7.436%, 12/21/65
				3 mo. USD LIBOR + 1.80%			1,030,406
	1,990,000			Iron Mountain, Inc.*
				5.250%, 03/15/28			1,931,335
	2,435,000			Jefferies Finance, LLC / JFIN Co-Issuer Corp.*
				5.000%, 08/15/28			2,198,561
				Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
	1,874,000			5.250%, 10/01/25			1,844,110
	1,033,000			4.750%, 06/15/29			925,217
	875,000			LD Holdings Group, LLC*
				6.125%, 04/01/28			713,983

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				Level 3 Financing, Inc.*
	985,000			4.250%, 07/01/28		$	331,206
	480,000			4.625%, 09/15/27			253,411
	720,000			LPL Holdings, Inc.*
				4.000%, 03/15/29			664,006
	955,000			Macquarie Airfinance Holdings, Ltd.*
				8.125%, 03/30/29			991,729
	1,498,000			MetLife, Inc.
				6.400%, 12/15/66			1,530,477
	1,300,000			Nationstar Mortgage Holdings, Inc.*
				5.500%, 08/15/28			1,238,497
				Navient Corp.
	1,038,000			5.000%, 03/15/27			990,678
	525,000			4.875%, 03/15/28^			477,519
	630,000			Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
				4.500%, 09/30/28			536,117
	475,000			Newmark Group, Inc.*
				7.500%, 01/12/29			485,469
				OneMain Finance Corp.
	670,000			9.000%, 01/15/29			706,287
	660,000			3.875%, 09/15/28			580,021
	479,000			7.125%, 03/15/26^			485,802
	476,000			Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*^
				5.875%, 10/01/28			466,042
	1,493,000			PHH Mortgage Corp.*
				7.875%, 03/15/26			1,379,308
	1,100,000			RHP Hotel Properties, LP / RHP Finance Corp.*
				4.500%, 02/15/29			1,023,363
				Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
	450,000			3.875%, 03/01/31			395,474
	445,000			3.625%, 03/01/29			397,176
	220,000			2.875%, 10/15/26			204,175
	943,000			StoneX Group, Inc.*
				8.625%, 06/15/25			953,778
				United Wholesale Mortgage, LLC*
	1,123,000			5.500%, 04/15/29			1,061,999
	480,000			5.750%, 06/15/27			471,787
				Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
	478,000			10.500%, 02/15/28			486,437
	465,000			6.500%, 02/15/29			328,151
	1,100,000			VZ Secured Financing, BV*
				5.000%, 01/15/32			961,906
	1,017,000			XHR, LP*
				6.375%, 08/15/25			1,018,678
							50,004,550
				Health Care (2.8%)
				Bausch Health Companies, Inc.*
	1,934,000			11.000%, 09/30/28			1,329,296
	382,000			14.000%, 10/15/30			216,174
	359,000			6.125%, 02/01/27			227,854
				CHS/Community Health Systems, Inc.*
	1,917,000			6.125%, 04/01/30			1,269,897
	544,000			8.000%, 03/15/26			536,014
	538,000			6.875%, 04/15/29			371,360
	475,000			10.875%, 01/15/32			499,049
	120,000			5.250%, 05/15/30			99,749
				DaVita, Inc.*
	1,139,000			3.750%, 02/15/31			939,584
	1,061,000			4.625%, 06/01/30			939,547
				Embecta Corp.*
	717,000			5.000%, 02/15/30			587,467
	240,000			6.750%, 02/15/30			211,766
				Encompass Health Corp.
	470,000			4.750%, 02/01/30			441,805
	470,000			4.500%, 02/01/28			449,626
	1,109,000			HCA, Inc.^
				7.500%, 11/06/33			1,252,161
	300,000			Jazz Securities DAC*
				4.375%, 01/15/29			277,548
				Medline Borrower, LP*
	1,215,000			3.875%, 04/01/29			1,101,446
	1,208,000			5.250%, 10/01/29			1,127,306
				Organon & Company / Organon Foreign Debt Co-Issuer, BV*
	1,760,000			5.125%, 04/30/31			1,516,046
	450,000			4.125%, 04/30/28			411,728
	1,025,000			Team Health Holdings, Inc.*
				6.375%, 02/01/25			866,535
				Tenet Healthcare Corp.
	2,250,000			6.250%, 02/01/27			2,245,613
	1,315,000			6.875%, 11/15/31			1,355,528
				Teva Pharmaceutical Finance Netherlands III, BV
	1,215,000			5.125%, 05/09/29^			1,172,754
	800,000			4.750%, 05/09/27			774,000
	440,000			3.150%, 10/01/26			410,775
							20,630,628
				Industrials (5.8%)
	1,100,000			ACCO Brands Corp.*^
				4.250%, 03/15/29			998,327
	740,000			AerCap Holdings, NV^‡
				5.875%, 10/10/79
				5 year CMT + 4.54%			735,153
	965,000			Air Lease Corp.‡
				4.125%, 02/01/36
				5 year CMT + 3.15%			817,895
				Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
	1,600,000			4.625%, 01/15/27			1,553,328
	720,000			5.875%, 02/15/28			719,633
	860,000			Allegiant Travel Company*
				7.250%, 08/15/27			841,510
	538,000			Arcosa, Inc.*
				4.375%, 04/15/29			504,913
	2,450,000			ARD Finance, SA*
				6.500%, 06/30/27
				7.250% PIK rate			1,188,936
	753,000			Beacon Roofing Supply, Inc.*
				4.125%, 05/15/29			682,775
				Bombardier, Inc.*
	480,000			8.750%, 11/15/30			505,094
	477,000			7.875%, 04/15/27			477,658
	956,000			BWX Technologies, Inc.*
				4.125%, 04/15/29			887,264
	1,000,000			Cascades, Inc. / Cascades USA, Inc.*
				5.375%, 01/15/28			981,380

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	239,000			Delta Air Lines, Inc. / SkyMiles IP, Ltd.*µ
				4.750%, 10/20/28		$	235,250
	1,265,000			Deluxe Corp.*
				8.000%, 06/01/29			1,139,613
	957,000			Eco Material Technologies, Inc.*
				7.875%, 01/31/27			958,302
	478,000			Emerald Debt Merger Sub, LLC*
				6.625%, 12/15/30			483,210
				EnerSys*
	500,000			6.625%, 01/15/32			507,220
	475,000			4.375%, 12/15/27			450,081
	580,000			Graham Packaging Company, Inc.*
				7.125%, 08/15/28			521,142
				Graphic Packaging International, LLC*
	625,000			4.750%, 07/15/27			608,912
	446,000			3.500%, 03/01/29			403,385
	1,054,000			Great Lakes Dredge & Dock Corp.*^
				5.250%, 06/01/29			915,410
	2,244,000			H&E Equipment Services, Inc.*
				3.875%, 12/15/28			2,039,347
	1,198,000			Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
				5.750%, 01/20/26			1,126,719
	1,250,000			Herc Holdings, Inc.*
				5.500%, 07/15/27			1,228,637
	1,120,000			IEA Energy Services, LLC*
				6.625%, 08/15/29			1,054,122
				JELD-WEN, Inc.*
	564,000			4.625%, 12/15/25			551,603
	500,000			4.875%, 12/15/27^			477,530
	1,575,000			Ken Garff Automotive, LLC*
				4.875%, 09/15/28			1,471,822
	955,000			Knife River Holding Company*
				7.750%, 05/01/31			1,004,717
	234,000			MasTec, Inc.*µ^
				4.500%, 08/15/28			219,869
	588,000			Moog, Inc.*
				4.250%, 12/15/27			551,332
	1,198,000			Newfold Digital Holdings Group, Inc.*
				6.000%, 02/15/29			907,437
	940,000			Novelis Corp.*
				4.750%, 01/30/30			873,006
	360,000			OI European Group, BV*
				4.750%, 02/15/30			333,547
	1,100,000			Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*^
				4.000%, 10/15/27			1,027,015
				Sealed Air Corp.*
	743,000			6.125%, 02/01/28			747,057
	239,000			5.000%, 04/15/29^			230,537
	240,000			Sealed Air Corp./Sealed Air Corp. U.S.*
				7.250%, 02/15/31			251,779
	450,000			Sensata Technologies, BV*
				4.000%, 04/15/29			412,200
	479,000			Sensata Technologies, Inc.*
				3.750%, 02/15/31			417,266
				Sinclair Television Group, Inc.*
	717,000			4.125%, 12/01/30			554,700
	475,000			5.500%, 03/01/30			366,320
	955,000			Standard Industries, Inc.*
				5.000%, 02/15/27			928,957
	773,000			Stericycle, Inc.*^
				3.875%, 01/15/29			703,755
	717,000			STL Holding Company, LLC*
				7.500%, 02/15/26			730,315
	240,000			Summit Materials LLC / Summit Materials Finance Corp.*
				7.250%, 01/15/31			249,624
				TransDigm, Inc.
	1,035,000			6.875%, 12/15/30*			1,064,446
	710,000			6.750%, 08/15/28*			722,546
	700,000			7.500%, 03/15/27			702,303
	544,000			6.250%, 03/15/26*			541,427
	360,000			7.125%, 12/01/31*			375,570
	960,000			Tronox, Inc.*
				4.625%, 03/15/29			848,717
	353,898			United Airlines Pass Through Trust Series 2019-2, Class B
				3.500%, 11/01/29			323,650
	961,000			Vertiv Group Corp.*
				4.125%, 11/15/28			895,047
	1,004,000			Wabash National Corp.*
				4.500%, 10/15/28			915,598
	855,000			Waste Pro USA, Inc.*
				5.500%, 02/15/26			830,812
				Williams Scotsman, Inc.*
	565,000			4.625%, 08/15/28			533,479
	480,000			7.375%, 10/01/31			503,294
							43,832,493
				Information Technology (1.9%)
	238,000			Booz Allen Hamilton, Inc.*
				4.000%, 07/01/29			223,558
	557,000			Coherent Corp.*
				5.000%, 12/15/29			521,703
	634,000			CommScope Technologies, LLC*^
				6.000%, 06/15/25			504,601
	895,000			CommScope, Inc.*
				4.750%, 09/01/29			592,660
	602,000			Dell International, LLC / EMC Corp.µ
				6.020%, 06/15/26			615,280
	478,000			Dun & Bradstreet Corp.*^
				5.000%, 12/15/29			444,875
	480,000			Fair Isaac Corp.*
				4.000%, 06/15/28			447,451
	1,050,000			KBR, Inc.*
				4.750%, 09/30/28			968,751
				MPH Acquisition Holdings, LLC*
	1,050,000			5.750%, 11/01/28			836,042
	480,000			5.500%, 09/01/28			426,835
	477,000			NCL Corp., Ltd.*
				8.125%, 01/15/29			500,755
	478,000			NCR Voyix Corp.*
				5.125%, 04/15/29			450,118
	723,000			ON Semiconductor Corp.*
				3.875%, 09/01/28			663,786
				Open Text Corp.*
	705,000			3.875%, 02/15/28			655,389
	475,000			6.900%, 12/01/27			493,767
	359,000			3.875%, 12/01/29			324,209
	359,000			Open Text Holdings, Inc.*^
				4.125%, 12/01/31			317,866
	896,000			Playtika Holding Corp.*
				4.250%, 03/15/29			777,450

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,350,000			TTM Technologies, Inc.*
				4.000%, 03/01/29		$	1,221,710
				Twilio, Inc.
	680,000			3.625%, 03/15/29			614,849
	236,000			3.875%, 03/15/31			208,128
	356,000			UKG, Inc.*
				6.875%, 02/01/31			360,393
	1,200,000			Viavi Solutions, Inc.*
				3.750%, 10/01/29			1,045,992
	1,100,000			ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
				3.875%, 02/01/29			980,100
							14,196,268
				Materials (1.8%)
	500,000			ArcelorMittal, SA
				7.000%, 10/15/39			545,885
	534,000			ATI, Inc.
				5.875%, 12/01/27			525,814
	242,000			Carpenter Technology Corp.
				7.625%, 03/15/30			250,436
	715,000			Chemours Company*
				4.625%, 11/15/29			625,932
	1,530,000			Clearwater Paper Corp.*
				4.750%, 08/15/28			1,436,655
	716,000			Cleveland-Cliffs, Inc.*
				6.750%, 04/15/30			722,602
				Commercial Metals Company
	478,000			4.125%, 01/15/30			437,475
	239,000			4.375%, 03/15/32			213,950
	1,115,000			Constellium, SE*^
				3.750%, 04/15/29			1,005,262
	477,000			HB Fuller Company
				4.250%, 10/15/28			444,974
	475,000			INEOS Finance, PLC*^
				6.750%, 05/15/28			464,897
	725,000			JW Aluminum Continuous Cast Company*
				10.250%, 06/01/26			733,106
	850,000			Kaiser Aluminum Corp.*
				4.625%, 03/01/28			783,828
	235,000			LSF11 A5 HoldCo, LLC*
				6.625%, 10/15/29			200,356
				Mercer International, Inc.
	1,260,000			5.125%, 02/01/29			1,081,798
	483,000			12.875%, 10/01/28*			519,404
	935,000			OCI, NV*
				6.700%, 03/16/33			934,850
				Owens-Brockway Glass Container, Inc.*^
	720,000			7.250%, 05/15/31			726,840
	472,000			6.625%, 05/13/27			472,585
	1,105,000			Silgan Holdings, Inc.
				4.125%, 02/01/28			1,041,043
	478,000			Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
				5.125%, 04/01/29			187,844
							13,355,536
				Other (0.1%)
				Gen Digital, Inc.*
	500,000			7.125%, 09/30/30^			518,865
	500,000			6.750%, 09/30/27			508,370
							1,027,235
				Real Estate (0.4%)
	764,000			EPR Properties
				3.750%, 08/15/29			681,274
				Forestar Group, Inc.*
	750,000			5.000%, 03/01/28			713,385
	502,000			3.850%, 05/15/26			477,437
	1,073,000			MIWD Holdco II, LLC / MIWD Finance Corp.*
				5.500%, 02/01/30			977,825
	465,000			Service Properties Trust^
				5.250%, 02/15/26			450,613
							3,300,534
				Special Purpose Acquisition Companies (0.2%)
				Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
	955,000			6.750%, 01/15/30^			859,682
	477,000			4.625%, 01/15/29			439,665
							1,299,347
				Utilities (0.1%)
	350,000			PPL Capital Funding, Inc.‡
				8.275%, 03/30/67
				3 mo. USD LIBOR + 2.67%			335,863
				Vistra Corp.*‡
	450,000			7.000%, 02/01/68
				5 year CMT + 5.74%			439,290
	250,000			8.000%, 02/01/68
				5 year CMT + 6.93%			251,158
							1,026,311
				Total Corporate Bonds
				(Cost $309,905,188)			305,038,181
Convertible Bonds (103.3%)
				Communication Services (9.4%)
	960,000			Cable One, Inc.µ
				0.000%, 03/15/26			824,746
				Liberty Media Corp.*
	8,500,000			3.750%, 03/15/28			10,545,610
	8,250,000			2.375%, 09/30/53			8,660,437
	9,000,000			Liberty Media Corp.-Liberty Formula One
				2.250%, 08/15/27			9,379,980
	5,250,000			Match Group Financeco 3, Inc.*µ
				2.000%, 01/15/30			4,674,600
	6,000,000			Perficient, Inc.µ
				0.125%, 11/15/26			5,109,000
	14,500,000			Sea, Ltd.
				0.250%, 09/15/26			12,227,560
				Snap, Inc.µ
	10,500,000			0.000%, 05/01/27			8,458,065
	5,750,000			0.750%, 08/01/26			6,036,638
	3,500,000			Zillow Group, Inc.µ
				1.375%, 09/01/26			4,781,455
							70,698,091
				Consumer Discretionary (20.8%)
	11,500,000			Airbnb, Inc.µ
				0.000%, 03/15/26			10,454,650
	4,500,000			Booking Holdings, Inc.
				0.750%, 05/01/25			8,401,815

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	4,250,000			Carnival Corp.
				5.750%, 12/01/27		$	6,470,923
	6,750,000			Chegg, Inc.µ
				0.000%, 09/01/26			5,609,385
				DISH Network Corp.µ
	14,191,000			0.000%, 12/15/25			10,157,208
	955,000			2.375%, 03/15/24			936,330
	11,500,000			DraftKings Holdings, Inc.µ
				0.000%, 03/15/28			9,595,255
	12,750,000			Etsy, Inc.µ
				0.125%, 09/01/27			10,574,595
	16,750,000			Ford Motor Company
				0.000%, 03/15/26			16,326,727
	8,750,000			Liberty Broadband Corp.*µ
				3.125%, 03/31/53			8,591,537
	2,435,000			Lucid Group, Inc.*
				1.250%, 12/15/26			968,180
	10,250,000			Marriott Vacations Worldwide Corp.µ
				3.250%, 12/15/27			9,064,690
	11,500,000			Rivian Automotive, Inc.*µ
				4.625%, 03/15/29			12,249,570
	2,000,000			Royal Caribbean Cruises, Ltd.
				6.000%, 08/15/25			5,238,120
	5,750,000			Shake Shack, Inc.µ
				0.000%, 03/01/28			4,712,413
	3,250,000			Stride, Inc.
				1.125%, 09/01/27			4,167,183
	15,000,000			Vail Resorts, Inc.µ
				0.000%, 01/01/26			13,546,800
	13,500,000			Wayfair, Inc.µ
				3.250%, 09/15/27			14,906,835
	3,756,000			Winnebago Industries, Inc.*µ
				3.250%, 01/15/30			3,864,999
							155,837,215
				Consumer Staples (0.6%)
	4,500,000			Post Holdings, Inc.
				2.500%, 08/15/27			4,684,905
				Energy (2.0%)
	4,890,000			Nabors Industries, Inc.*µ
				1.750%, 06/15/29			3,619,236
	4,250,000			Northern Oil & Gas, Inc.
				3.625%, 04/15/29			4,734,967
	2,750,000			Pioneer Natural Resources Companyµ
				0.250%, 05/15/25			6,837,435
				SunEdison, Inc.@
	9,411,000			0.250%, 01/15/49			94,110
	898,000			0.000%, 10/01/49			8,980
							15,294,728
				Financials (1.4%)
	8,750,000			Morgan Stanley Finance, LLC
				1.000%, 11/23/27			10,183,250
				Health Care (21.6%)
	4,500,000			Alnylam Pharmaceuticals, Inc.µ
				1.000%, 09/15/27			4,342,185
	5,500,000			Alphatec Holdings, Inc.
				0.750%, 08/01/26			6,036,855
	5,702,000			BioMarin Pharmaceutical, Inc.µ
				0.599%, 08/01/24			5,617,667
	9,500,000			CONMED Corp.µ
				2.250%, 06/15/27			9,038,490
	12,250,000			CryoPort, Inc.*µ
				0.750%, 12/01/26			10,035,322
				Dexcom, Inc.µ
	15,831,000			0.250%, 11/15/25			16,390,309
	8,000,000			0.375%, 05/15/28*			8,063,040
	2,886,000			Enovis Corp.*
				3.875%, 10/15/28			3,567,991
	4,250,000			Envista Holdings Corp.*µ
				1.750%, 08/15/28			3,881,568
				Exact Sciences Corp.µ
	6,750,000			0.375%, 03/15/27			6,273,720
	3,750,000			2.000%, 03/01/30*			4,165,238
	7,250,000			Halozyme Therapeutics, Inc.µ
				1.000%, 08/15/28			6,578,433
	2,088,000			Immunocore Holdings, PLC*
				2.500%, 02/01/30			2,251,908
	4,250,000			Insmed, Inc.µ
				0.750%, 06/01/28			4,632,160
	4,500,000			Insulet Corp.µ
				0.375%, 09/01/26			4,820,310
	9,125,000			Integer Holdings Corp.*
				2.125%, 02/15/28			11,889,236
	4,500,000			Ionis Pharmaceuticals, Inc.
				0.000%, 04/01/26			4,785,975
	9,950,000			Jazz Investments I, Ltd.µ
				2.000%, 06/15/26			10,033,779
	3,721,000			Lantheus Holdings, Inc.µ
				2.625%, 12/15/27			3,857,523
	10,250,000			NeoGenomics, Inc.µ
				0.250%, 01/15/28			7,832,948
	8,500,000			Omnicell, Inc.µ
				0.250%, 09/15/25			7,814,050
	8,000,000			Pacira BioSciences, Inc.µ
				0.750%, 08/01/25			7,434,400
	3,750,000			Sarepta Therapeutics, Inc.
				1.250%, 09/15/27			4,233,000
	8,250,000			Shockwave Medical, Inc.*
				1.000%, 08/15/28			8,725,860
							162,301,967
				Industrials (7.9%)
	4,250,000			Axon Enterprise, Inc.
				0.500%, 12/15/27			5,224,483
	4,125,000			Fluor Corp.*
				1.125%, 08/15/29			4,370,561
	7,250,000			John Bean Technologies Corp.µ
				0.250%, 05/15/26			6,566,615
	4,250,000			Middleby Corp.µ
				1.000%, 09/01/25			5,021,928
	3,000,000			Parsons Corp.
				0.250%, 08/15/25			4,458,180
	4,000,000			Tetra Tech, Inc.*
				2.250%, 08/15/28			4,067,840
				Uber Technologies, Inc.
	20,000,000			0.000%, 12/15/25			20,674,000
	7,804,000			0.875%, 12/01/28*			8,717,770
							59,101,377
				Information Technology (33.0%)
	4,125,000			Advanced Energy Industries, Inc.*
				2.500%, 09/15/28			4,275,315
				Akamai Technologies, Inc.
	8,250,000			1.125%, 02/15/29*			9,171,195
	4,500,000			0.375%, 09/01/27µ			5,155,695
	9,250,000			Bentley Systems, Inc.µ
				0.125%, 01/15/26			9,071,845

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	7,500,000			BILL Holdings, Inc.µ
				0.000%, 12/01/25		$	7,031,325
	3,250,000			Camtek, Ltd.*
				0.000%, 12/01/26			4,642,593
	5,750,000			Confluent, Inc.µ
				0.000%, 01/15/27			4,815,223
	7,500,000			CyberArk Software, Ltd.µ
				0.000%, 11/15/24			11,285,700
	4,730,000			Datadog, Inc.µ
				0.125%, 06/15/25			6,694,180
	6,000,000			DigitalOcean Holdings, Inc.µ
				0.000%, 12/01/26			4,947,660
	9,066,000			Enphase Energy, Inc.µ
				0.000%, 03/01/26			8,143,444
	2,250,000			Five9, Inc.µ
				0.500%, 06/01/25			2,163,105
	2,000,000			MongoDB, Inc.µ~
				0.250%, 01/15/26			3,884,860
				NCL Corp., Ltd.µ
	6,000,000			1.125%, 02/15/27			5,340,780
	4,500,000			2.500%, 02/15/27			4,121,640
	3,000,000			5.375%, 08/01/25			3,617,460
	6,250,000			Nutanix, Inc.
				0.250%, 10/01/27			7,175,812
				Okta, Inc.µ
	7,500,000			0.125%, 09/01/25			6,930,000
	4,000,000			0.375%, 06/15/26			3,557,000
	17,250,000			ON Semiconductor Corp.*µ
				0.500%, 03/01/29			16,754,925
	5,500,000			Palo Alto Networks, Inc.µ
				0.375%, 06/01/25			18,710,890
	2,000,000			Q2 Holdings, Inc.µ
				0.750%, 06/01/26			1,826,420
	7,500,000			Rapid7, Inc.
				1.250%, 03/15/29			8,211,675
	11,250,000			Repay Holdings Corp.*µ
				0.000%, 02/01/26			9,564,300
	4,000,000			Seagate HDD Cayman*
				3.500%, 06/01/28			4,817,080
	13,750,000			Shift4 Payments, Inc.
				0.000%, 12/15/25			15,170,787
	6,600,000			SK Hynix, Inc.
				1.750%, 04/11/30			8,702,298
	10,000,000			Tyler Technologies, Inc.
				0.250%, 03/15/26			10,149,500
	12,250,000			Unity Software, Inc.µ
				0.000%, 11/15/26			10,190,407
	5,000,000			Western Digital Corp.*
				3.000%, 11/15/28			6,494,700
	6,250,000			Wix.com, Ltd.
				0.000%, 08/15/25			5,718,250
				Wolfspeed, Inc.
	8,750,000			1.875%, 12/01/29			5,046,212
	5,338,000			0.250%, 02/15/28			3,161,911
	4,250,000			Workiva, Inc.*µ
				1.250%, 08/15/28			4,094,578
	4,250,000			Zscaler, Inc.µ
				0.125%, 07/01/25			6,764,895
							247,403,660
				Materials (2.0%)
	1,500,000			ATI, Inc.µ
				3.500%, 06/15/25			4,000,275
	3,500,000			Ivanhoe Mines, Ltd.*
				2.500%, 04/15/26			5,224,100
	6,306,000			MP Materials Corp.*µ
				0.250%, 04/01/26			5,416,665
							14,641,040
				Other (0.0%)
	475,000			Multiplan Corp.*µ
				6.000%, 10/15/27
				7.000% PIK rate7.000% PIK rate			332,699
				Real Estate (0.7%)
	6,000,000			Pebblebrook Hotel Trustµ
				1.750%, 12/15/26			5,382,840
				Utilities (3.9%)
	4,250,000			CMS Energy Corp.*
				3.375%, 05/01/28			4,169,463
	6,500,000			PG&E Corp.*µ
				4.250%, 12/01/27			6,626,035
	15,250,000			PPL Capital Funding, Inc.*^
				2.875%, 03/15/28			14,550,177
	4,250,000			Southern Company*
				3.875%, 12/15/25			4,234,062
							29,579,737
				Total Convertible Bonds
				(Cost $808,571,928)			775,441,509
Bank Loans (6.4%) ¡
				Airlines (0.2%)
	680,000			American Airlines, Inc.‡
				10.329%, 04/20/28
				3 mo. SOFR + 4.75%			697,803
	689,500			Mileage Plus Holdings, LLC‡
				10.770%, 06/21/27
				3 mo. SOFR + 5.25%			711,550
							1,409,353
				Communication Services (0.3%)
	126,698			Clear Channel Outdoor Holdings, Inc.‡
				9.074%, 08/21/26
				3 mo. SOFR + 3.50%			125,442
	755,000			DirecTV Financing, LLC!
				0.000%, 08/02/29			755,631
	1,505,000			Entercom Media Corp.‡&
				8.145%, 11/18/24
				3 mo. SOFR + 2.50%			845,035
	485,000			Telesat Canada‡
				8.400%, 12/07/26
				3 mo. SOFR + 2.75%			297,729
							2,023,837
				Consumer Discretionary (1.3%)
	744,000			American Axle & Manufacturing, Inc.‡
				8.936%, 12/13/29
				1 mo. SOFR + 3.50%			745,399
	962,725			Caesars Entertainment, Inc.‡
				8.663%, 02/06/30
				3 mo. SOFR + 3.25%			963,495
	1,147,074			Carnival Corp.‡
				8.697%, 10/18/28
				1 mo. SOFR + 3.25%			1,148,685

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	970,125			Carnival Corp.‡
				8.336%, 08/08/27
				1 mo. SOFR + 3.00%		$	971,823
	977,613			Hanesbrands, Inc.‡
				9.083%, 03/08/30
				1 mo. SOFR + 3.75%			973,946
	530,816			Life Time Fitness, Inc.‡
				9.824%, 01/15/26
				3 mo. SOFR + 4.25%			534,532
	580,558			Petco Health & Wellness Company, Inc.‡
				8.860%, 03/03/28
				3 mo. SOFR + 3.25%			546,517
	2,380,222			PetSmart, Inc.‡
				9.183%, 02/11/28
				1 mo. SOFR + 3.75%			2,372,546
	596,577			TKC Holdings, Inc.‡
				10.947%, 05/15/28
				1 mo. SOFR + 5.50%			578,530
	974,388			Windsor Holdings III, LLC‡
				9.848%, 08/01/30
				1 mo. SOFR + 4.50%			976,960
							9,812,433
				Consumer Staples (0.7%)
	2,037,793			Amneal Pharmaceuticals, LLC‡
				10.833%, 05/04/28
				1 mo. SOFR + 5.50%			2,027,604
	1,756,452			Jazz Financing Lux Sarl‡
				8.447%, 05/05/28
				1 mo. SOFR + 3.00%			1,757,550
	960,000			Star Parent, Inc.‡
				9.348%, 09/27/30
				3 mo. SOFR + 4.00%			939,000
	481,343			United Natural Foods, Inc.‡
				8.697%, 10/22/25
				1 mo. SOFR + 3.25%			481,018
							5,205,172
				Energy (0.3%)
	750,000			Buckeye Partners, LP‡
				7.833%, 11/22/30			750,626
	475,000			New Fortress Energy, Inc.‡
				10.317%, 10/27/28
				3 mo. SOFR + 5.00%			475,950
	1,197,184			Par Petroleum, LLC‡
				9.738%, 02/28/30
				3 mo. SOFR + 4.25%			1,198,232
							2,424,808
				Financials (0.9%)
	240,000			Advisor Group, Inc.‡
				9.833%, 08/17/28
				1 mo. SOFR + 4.50%			240,076
	778,636			Alliant Holdings Intermediate LLC‡
				8.833%, 11/06/30
				1 mo. SOFR + 3.50%			781,143
	721,380			Amynta Agency Borrower, Inc.‡
				9.583%, 02/28/28
				1 mo. SOFR + 4.25%			722,537
	987,437			AssuredPartners, Inc.‡
				8.833%, 02/12/27
				1 mo. SOFR + 3.50%			985,378
	738,150			Avolon TLB Borrower 1, LLC‡
				7.337%, 06/22/28
				1 mo. SOFR + 2.00%			738,825
	450,000			Broadstreet Partners, Inc.‡
				9.083%, 01/27/29
				1 mo. SOFR + 3.75%			450,281
	950,000			HUB International, Ltd.!
				0.000%, 06/20/30			951,634
	720,000			Iron Mountain, Inc.‡
				7.569%, 01/31/31
				3 mo. SOFR + 2.25%			717,077
	1,290,453			VFH Parent, LLC‡
				8.433%, 01/13/29
				1 mo. SOFR + 3.00%			1,289,808
							6,876,759
				Health Care (0.5%)
	488,456			Icon Luxembourg Sarl‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%			489,523
	988,235			Padagis, LLC‡
				10.341%, 07/06/28
				3 mo. SOFR + 4.75%			958,593
	121,699			PRA Health Sciences, Inc.‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%			121,965
	2,367,475			Team Health Holdings, Inc.‡
				10.563%, 03/02/27
				3 mo. SOFR + 5.25%			1,979,801
	6,770			Team Health Holdings, Inc.‡
				10.583%, 03/02/27
				1 mo. SOFR + 5.25%			5,662
							3,555,544
				Industrials (0.8%)
	489,500			ACProducts, Inc.!
				0.000%, 05/17/28			424,697
	468,000			ACProducts, Inc.‡
				9.860%, 05/17/28
				3 mo. SOFR + 4.25%			406,044
	605,775			Air Canada‡
				9.139%, 08/11/28
				3 mo. SOFR + 3.50%			607,147
	903,473			ChampionX Corp.‡
				8.187%, 06/07/29
				1 mo. SOFR + 2.75%			907,426
	606,019			Emrld Borrower, LP‡
				8.313%, 05/31/30
				1 mo. SOFR + 3.00%			606,891
	1,122,900			Light and Wonder International, Inc.‡
				8.083%, 04/14/29
				1 mo. SOFR + 3.00%			1,122,900
	975,000			TransDigm, Inc.‡
				8.598%, 02/14/31
				3 mo. SOFR + 3.25%			977,345
	928,837			United Airlines, Inc.‡
				9.201%, 04/21/28
				1 mo. SOFR + 3.75%			931,814
							5,984,264
				Information Technology (0.5%)
	1,323,697			Banff Merger Sub, Inc.‡
				9.583%, 12/29/28
				1 mo. SOFR + 4.25%			1,327,007

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	756,093			Camelot US Acquisition, LLC‡
				8.337%, 10/30/26
				1 mo. SOFR + 3.00%		$	756,471
	913,163			Central Parent, Inc.‡
				9.348%, 07/06/29
				3 mo. SOFR + 4.00%			916,016
	857,521			II-VI, Inc.‡
				8.087%, 07/02/29
				1 mo. SOFR + 2.75%			855,163
							3,854,657
				Materials (0.7%)
	718,200			Chemours Company‡
				8.833%, 08/18/28
				1 mo. SOFR + 3.50%			717,482
	970,125			Ineos US Finance, LLC‡
				8.837%, 02/18/30
				1 mo. SOFR + 3.50%			960,724
	757,638			Innophos, Inc.‡
				8.697%, 02/05/27
				1 mo. SOFR + 3.25%			748,959
	1,203,950			LSF11 A5 Holdco, LLC‡
				9.683%, 10/15/28
				1 mo. SOFR + 4.25%			1,205,461
	735,569			Trinseo Materials Operating SCA‡
				8.150%, 05/03/28
				3 mo. SOFR + 2.50%			564,796
	981,278			WR Grace Holdings, LLC‡
				9.360%, 09/22/28
				3 mo. SOFR + 3.75%			983,648
							5,181,070
				Special Purpose Acquisition Companies (0.2%)
	472,800			Clydesdale Acquisition Holdings, Inc.‡
				9.108%, 04/13/29
				1 mo. SOFR + 3.67%			470,361
	240,713			Fertitta Entertainment, LLC‡
				9.333%, 01/27/29
				1 mo. SOFR + 4.00%			240,342
	987,500			Patagonia Holdco, LLC‡
				11.116%, 08/01/29
				3 mo. SOFR + 5.75%			908,006
							1,618,709
				Total Bank Loans
				(Cost $48,813,168)			47,946,606

 

NUMBER OF
SHARES						VALUE
Convertible Preferred Stocks (3.4%)
				Energy (0.0%)
	26			Gulfport Energy Corp.#
				10.000%, 03/04/24
				15.000% PIK rate			240,500
				Financials (2.0%)
	83,465			Apollo Global Management, Inc.
				0.000%, 07/31/26			4,876,025
	8,100			Bank of America Corp.‡‡
				7.250%			9,864,585
							14,740,610
				Industrials (0.5%)
	75,625			Chart Industries, Inc.
				6.750%, 12/15/25			3,767,638
				Utilities (0.9%)
	180,300			NextEra Energy, Inc.^
				6.926%, 09/01/25			6,708,963
				Total Convertible Preferred Stocks
				(Cost $28,652,875)			25,457,711
Warrants (0.0%) #
				Energy (0.0%)
	47,739			Mcdermott International, Ltd.&
				06/30/27, Strike $15.98			5
	42,965			Mcdermott International, Ltd.&
				06/30/27, Strike $12.33			4
				Total Warrants
				(Cost $18,376)			9
Common Stocks (0.5%)
				Communication Services (0.0%)
	20,285			Altice USA, Inc. - Class A^#			49,495
	6,819			Cumulus Media, Inc. - Class Aµ#			31,367
	1			Frontier Communications Parent, Inc.µ#			25
							80,887
				Consumer Staples (0.0%)
	7,073			Mallinckrodt, PLC#			270,542
				Energy (0.4%)
	1,384			Chesapeake Energy Corp.µ			106,720
	67,000			Energy Transfer, LP			958,100
	39,795			Enterprise Products Partners, LP			1,064,914
	6,644			EP Energy Corp.&#			19,932
	32			Gulfport Energy Corp.&#			4,061
	8,557			ONEOK, Inc.^			584,016
							2,737,743
				Special Purpose Acquisition Company (0.1%)
	11,411			Intelsat Emergence, SA&#			310,950
				Total Common Stocks
				(Cost $4,420,995)			3,400,122
Preferred Stocks (0.4%)
				Communication Services (0.1%)
				United States Cellular Corp.µ
	11,875			5.500%, 06/01/70			217,907
	11,375			5.500%, 03/01/70			210,551
							428,458
				Consumer Discretionary (0.1%)
	6,122			Guitar Center, Inc.&#			502,004

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES						VALUE
				Energy (0.2%)
	29,680			NuStar Energy, LP‡
				11.282%, 03/01/24
				3 mo. USD LIBOR + 5.64%		$	762,776
	7,294			NuStar Energy, LP‡
				12.405%, 03/01/24
				3 mo. USD LIBOR + 6.77%			188,331
	43,000			NuStar Logistics, LP‡
				12.310%, 01/15/43
				3 mo. USD SOFR + 7.00%			1,111,980
							2,063,087
				Total Preferred Stocks
				(Cost $3,137,405)			2,993,549

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT
Purchased Option (0.0%) #
				Information Technology (0.0%)
	375			Zscaler, Inc.
	8,837,625			Put, 06/21/24, Strike $200.00
				(Cost $511,283)			386,250
TOTAL INVESTMENTS (154.7%)
(Cost $1,204,738,350)							1,161,367,862
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-17.7%)							(133,000,000	)
LIABILITIES, LESS OTHER ASSETS (-37.0%)							(277,890,120	)
NET ASSETS (100.0%)						$	750,477,742

 

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 Funds. 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 $463,154,007.
@	In default status and considered non-income producing.
^	Security, or portion of security, is on loan.
&	Illiquid security.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.
~	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 $2,428,038.
¡	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.
#	Non-income producing security.
‡‡	Perpetual maturity.
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.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Securities		$	—			$	703,925			$	—			$	703,925
Corporate Bonds			—				305,038,181				—				305,038,181
Convertible Bonds			—				775,441,509				—				775,441,509
Bank Loans			—				47,946,606				—				47,946,606
Convertible Preferred Stocks			25,217,211				240,500				—				25,457,711
Warrants			—				9				—				9
Common Stocks			2,794,637				605,485				—				3,400,122
Preferred Stocks			2,491,545				502,004				—				2,993,549
Purchased Options			386,250				—				—				386,250
Total		$	30,889,643			$	1,130,478,219			$	—			$	1,161,367,862

 

See accompanying Notes to Schedule of Investments

 

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
Asset Backed Security (0.1%)
		Other (0.1%)
850,000		SVC ABS, LLC Series 2023-1A, Class C*
		6.700%, 02/20/53
		(Cost $785,702)		$	782,140
Corporate Bonds (40.8%)
		Airlines (0.6%)
956,044		Alaska Airlines Pass Through Trust Series 2020-1, Class A*µ
		4.800%, 02/15/29			928,051
440,686		Alaska Airlines Pass Through Trust Series 2020-1, Class B*
		8.000%, 02/15/27			445,234
1,076,060		American Airlines Pass Through Trust Series 2021-1, Class B
		3.950%, 01/11/32			960,028
587,250		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
		5.500%, 04/20/26			581,924
1,014,360		British Airways Pass Through Trust Series 2021-1, Class B*
		3.900%, 03/15/33			920,339
833,999		JetBlue Pass Through Trust Series 2020-1, Class B
		7.750%, 05/15/30			841,188
					4,676,764
		Communication Services (4.3%)
600,000		Altice France Holding, SA*
		10.500%, 05/15/27			346,710
1,200,000		Altice France, SA*
		5.500%, 10/15/29			886,332
1,255,000		APi Group DE, Inc.*
		4.750%, 10/15/29			1,175,207
1,100,000		Ashtead Capital, Inc.*
		2.450%, 08/12/31			896,401
		Audacy Capital Corp.*@
1,307,000		6.750%, 03/31/29			52,764
490,000		6.500%, 05/01/27			20,908
952,000		Cincinnati Bell Telephone Company, LLC
		6.300%, 12/01/28			844,376
1,025,000		Clear Channel Outdoor Holdings, Inc.*
		9.000%, 09/15/28			1,071,115
1,454,000		Consolidated Communications, Inc.*
		6.500%, 10/01/28			1,266,885
		CSC Holdings, LLC*
1,630,000		5.375%, 02/01/28			1,402,957
1,600,000		4.625%, 12/01/30			828,000
1,220,000		4.500%, 11/15/31			876,777
1,150,000		5.750%, 01/15/30			610,685
1,035,000		5.500%, 04/15/27			930,579
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
750,000		6.625%, 08/15/27			51,323
585,000		5.375%, 08/15/26			41,289
1,297,000		Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
		5.875%, 08/15/27			1,233,278
1,060,000		Frontier California, Inc.
		6.750%, 05/15/27			1,025,200
		Frontier Communications Holdings, LLC*
658,000		5.000%, 05/01/28			607,979
261,000		8.750%, 05/15/30			267,449
1,165,000		Frontier Florida, LLC@
		6.860%, 02/01/28			1,122,606
1,555,000		Frontier North, Inc.@
		6.730%, 02/15/28			1,491,711
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
905,000		3.500%, 03/01/29			819,677
270,000		5.250%, 12/01/27			265,270
		iHeartCommunications, Inc.
655,000		8.375%, 05/01/27			409,761
395,000		5.250%, 08/15/27*			307,124
1,295,000		LCPR Senior Secured Financing DAC*
		6.750%, 10/15/27			1,255,761
791,137		Ligado Networks, LLC*
		15.500%, 11/01/23
		15.500% PIK rate			136,234
		Lumen Technologies, Inc.
785,000		7.600%, 09/15/39			208,912
525,000		4.000%, 02/15/27*			277,946
263,000		7.650%, 03/15/42			72,514
522,000		Match Group Holdings II, LLC*^
		3.625%, 10/01/31			447,130
875,000		Nexstar Media, Inc.*
		5.625%, 07/15/27			851,847
1,005,000		Paramount Global
		4.900%, 08/15/44			795,056
367,000		Qwest Corp.
		7.250%, 09/15/25			359,752
		Scripps Escrow II, Inc.*
514,000		3.875%, 01/15/29			447,113
257,000		5.375%, 01/15/31			197,592
930,000		Scripps Escrow, Inc.*^
		5.875%, 07/15/27			839,325
		Sirius XM Radio, Inc.*
1,350,000		5.500%, 07/01/29^			1,284,930
1,044,000		4.000%, 07/15/28			948,558
515,000		3.125%, 09/01/26			481,649
261,000		3.875%, 09/01/31			217,945
957,000		Spanish Broadcasting System, Inc.*
		9.750%, 03/01/26			508,923
1,915,000		Sprint, LLCµ
		7.125%, 06/15/24			1,924,422
1,170,000		Stagwell Global, LLC*
		5.625%, 08/15/29			1,074,095
1,042,000		Telesat Canada / Telesat, LLC*
		4.875%, 06/01/27			617,875
420,000		Time Warner Cable, LLC
		7.300%, 07/01/38			440,811
1,186,000		United States Cellular Corp.
		6.700%, 12/15/33			1,222,849
786,000		Univision Communications, Inc.*
		8.000%, 08/15/28			799,951

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
525,000		Viasat, Inc.*^
		5.625%, 04/15/27		$	492,875
					34,756,428
		Consumer Discretionary (8.7%)
1,257,000		Abercrombie & Fitch Management Company*
		8.750%, 07/15/25			1,279,991
1,055,000		Adams Homes, Inc.*
		9.250%, 10/15/28			1,081,291
1,305,000		Adient Global Holdings Company*^
		8.250%, 04/15/31			1,379,542
830,000		American Axle & Manufacturing, Inc.
		6.875%, 07/01/28			812,097
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
913,000		4.625%, 08/01/29			831,926
780,000		6.625%, 01/15/28			773,807
1,325,000		At Home Group, Inc.*
		4.875%, 07/15/28			585,849
		Bath & Body Works, Inc.
1,369,000		6.694%, 01/15/27			1,391,821
760,000		6.875%, 11/01/35			760,433
600,000		Benteler International AG*^
		10.500%, 05/15/28			643,392
		Caesars Entertainment, Inc.*
657,000		4.625%, 10/15/29			600,531
512,000		8.125%, 07/01/27^			525,880
		Carnival Corp.*
523,000		4.000%, 08/01/28			485,103
520,000		7.625%, 03/01/26			528,434
65,000		7.000%, 08/15/29^			67,686
		Carvana Company*
209,000		14.000%, 06/01/31			186,572
176,000		13.000%, 06/01/30			156,930
117,000		12.000%, 12/01/28			103,905
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
2,250,000		5.125%, 05/01/27			2,171,722
1,825,000		4.500%, 08/15/30			1,586,290
1,200,000		6.375%, 09/01/29			1,168,956
1,150,000		4.750%, 03/01/30			1,022,511
1,035,000		4.250%, 02/01/31			873,654
540,000		5.000%, 02/01/28			510,138
522,000		4.750%, 02/01/32			448,247
522,000		CDI Escrow Issuer, Inc.*
		5.750%, 04/01/30			505,625
810,000		Cedar Fair, LP^
		5.250%, 07/15/29			775,308
520,000		Churchill Downs, Inc.*
		6.750%, 05/01/31			527,462
		Dana, Inc.
855,000		4.250%, 09/01/30			748,424
782,000		4.500%, 02/15/32			673,458
		DISH DBS Corp.
1,170,000		5.125%, 06/01/29			436,316
775,000		5.250%, 12/01/26*			612,010
650,000		7.375%, 07/01/28			287,677
525,000		5.750%, 12/01/28*			354,149
428,000		7.750%, 07/01/26			253,273
1,049,000		DISH Network Corp.*
		11.750%, 11/15/27			1,095,607
1,510,000		Empire Resorts, Inc.*
		7.750%, 11/01/26			1,400,359
1,142,000		Everi Holdings, Inc.*
		5.000%, 07/15/29			1,050,811
1,075,000		Ford Motor Company^
		6.100%, 08/19/32			1,075,699
		Ford Motor Credit Company, LLC
1,650,000		4.000%, 11/13/30			1,472,542
1,350,000		7.200%, 06/10/30^			1,435,765
1,280,000		5.113%, 05/03/29			1,244,122
945,000		7.350%, 11/04/27			994,093
800,000		2.900%, 02/16/28			720,368
391,000		Gap, Inc.*
		3.875%, 10/01/31			323,126
510,000		General Motors Company
		5.200%, 04/01/45			462,769
		goeasy, Ltd.*
1,825,000		9.250%, 12/01/28			1,945,067
962,000		4.375%, 05/01/26			920,538
560,000		Goodyear Tire & Rubber Company^
		5.250%, 07/15/31			510,216
445,000		Group 1 Automotive, Inc.*
		4.000%, 08/15/28			410,935
1,116,000		Guitar Center, Inc.*^&
		8.500%, 01/15/26			991,611
825,000		International Game Technology, PLC*
		6.250%, 01/15/27			830,478
285,653		JetBlue Pass Through Trust Series 2019-2, Class B
		8.000%, 11/15/27			287,996
928,000		Kohl's Corp.
		5.550%, 07/17/45			633,286
1,040,000		LCM Investments Holdings II, LLC*
		8.250%, 08/01/31			1,067,914
1,045,000		Liberty Interactive, LLC
		8.250%, 02/01/30			558,302
1,008,000		Life Time, Inc.*^
		8.000%, 04/15/26			1,019,673
525,000		Light & Wonder International, Inc.*
		7.500%, 09/01/31			547,097
390,000		Lindblad Expeditions Holdings, Inc.*
		9.000%, 05/15/28			405,639
672,000		Lindblad Expeditions, LLC*
		6.750%, 02/15/27			672,511
685,000		M/I Homes, Inc.
		3.950%, 02/15/30			614,349
		Macy's Retail Holdings, LLC
1,219,000		6.700%, 07/15/34*			1,025,849
1,025,000		4.300%, 02/15/43			778,272
870,000		Mclaren Finance, PLC*
		7.500%, 08/01/26			771,507
1,329,000		Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
		4.875%, 05/01/29			1,233,870
625,000		Newell Brands, Inc.
		5.200%, 04/01/26			608,650
		Nordstrom, Inc.
500,000		5.000%, 01/15/44			361,295
499,000		4.250%, 08/01/31			416,635
1,573,000		Patrick Industries, Inc.*^
		4.750%, 05/01/29			1,450,794
1,195,000		PENN Entertainment, Inc.*^
		4.125%, 07/01/29			1,027,903

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		PetSmart, Inc. / PetSmart Finance Corp.*
325,000		7.750%, 02/15/29		$	315,874
325,000		4.750%, 02/15/28			303,797
1,460,000		Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*^
		5.625%, 09/01/29			1,100,490
525,000		QVC, Inc.
		5.450%, 08/15/34			348,889
530,000		Raising Cane's Restaurants, LLC*
		9.375%, 05/01/29			568,404
2,039,000		Rite Aid Corp.*@
		8.000%, 11/15/26			1,549,008
520,000		Royal Caribbean Cruises, Ltd.*
		7.250%, 01/15/30			542,246
1,475,000		Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
		4.625%, 03/01/29			1,271,656
1,565,000		Six Flags Entertainment Corp.*
		7.250%, 05/15/31			1,598,147
1,173,000		Sonic Automotive, Inc.*^
		4.625%, 11/15/29			1,062,515
753,000		Speedway Motorsports, LLC / Speedway Funding II, Inc.*
		4.875%, 11/01/27			714,838
2,125,000		Station Casinos, LLC*
		4.500%, 02/15/28			2,005,214
263,000		Stl Holding Company, LLC*
		8.750%, 02/15/29			263,000
636,000		Taylor Morrison Communities, Inc.*
		5.750%, 01/15/28			633,882
260,000		Viking Cruises, Ltd.*
		9.125%, 07/15/31			278,598
1,215,000		Vista Outdoor, Inc.*^
		4.500%, 03/15/29			1,194,746
		ZF North America Capital, Inc.*
1,025,000		7.125%, 04/14/30			1,081,846
300,000		6.875%, 04/14/28			309,222
					70,658,430
		Consumer Staples (2.0%)
1,178,000		1375209 B.C., Ltd.*^
		9.000%, 01/30/28			1,144,297
1,543,000		Arrow Bidco, LLC*
		10.750%, 06/15/25			1,598,563
1,050,000		B&G Foods, Inc.*
		8.000%, 09/15/28			1,096,315
1,191,000		Central Garden & Pet Company*
		4.125%, 04/30/31			1,054,738
1,188,000		Edgewell Personal Care Company*
		4.125%, 04/01/29			1,087,614
		Energizer Holdings, Inc.*
1,445,000		4.375%, 03/31/29			1,308,505
260,000		6.500%, 12/31/27^			259,168
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
1,575,000		5.500%, 01/15/30^			1,541,893
650,000		5.125%, 02/01/28µ			644,950
390,000		5.750%, 04/01/33			386,724
480,377		Mallinckrodt International Finance SA / Mallinckrodt CB, LLC*
		14.750%, 11/14/28			523,837
672,000		New Albertsons, LP
		7.750%, 06/15/26			689,748
1,043,000		Performance Food Group, Inc.*
		4.250%, 08/01/29			956,535
775,000		Pilgrim's Pride Corp.
		4.250%, 04/15/31			699,213
477,000		Post Holdings, Inc.*
		5.750%, 03/01/27			475,555
986,000		Prestige Brands, Inc.*
		3.750%, 04/01/31			859,565
855,000		United Natural Foods, Inc.*^
		6.750%, 10/15/28			719,483
1,628,000		Vector Group, Ltd.*
		5.750%, 02/01/29			1,503,605
					16,550,308
		Energy (5.3%)
516,000		Antero Resources Corp.*
		5.375%, 03/01/30			492,837
1,037,000		Apache Corp.
		5.100%, 09/01/40			891,820
545,000		Buckeye Partners, LP
		5.850%, 11/15/43			450,170
1,460,000		Callon Petroleum Company*
		7.500%, 06/15/30			1,539,074
520,000		Cheniere Energy, Inc.µ
		4.625%, 10/15/28			503,890
780,000		Chesapeake Energy Corp.*
		6.750%, 04/15/29			789,532
1,465,000		Civitas Resources, Inc.*
		8.750%, 07/01/31			1,563,580
		Continental Resources, Inc.*
775,000		2.875%, 04/01/32			633,051
515,000		5.750%, 01/15/31			512,765
808,000		DT Midstream, Inc.*
		4.125%, 06/15/29			743,029
		Earthstone Energy Holdings, LLC*
1,024,000		8.000%, 04/15/27			1,061,233
390,000		9.875%, 07/15/31			433,388
600,000		Enbridge, Inc.‡
		7.375%, 01/15/83
		5 year CMT + 3.71%			601,056
		Energy Transfer, LP‡
1,520,000		8.586%, 11/01/66
		3 mo. SOFR + 3.28%			1,357,831
764,000		6.500%, 02/01/36
		5 year CMT + 5.69%			738,926
		EnLink Midstream Partners, LP
1,300,000		9.756%, 02/01/36‡
		3 mo. LIBOR + 4.11%			1,228,864
1,125,000		4.850%, 07/15/26			1,105,481
650,000		Enlink Midstream, LLC*
		6.500%, 09/01/30			666,023
1,730,000		EQM Midstream Partners, LP*
		7.500%, 06/01/27			1,780,412
		Genesis Energy, LP / Genesis Energy Finance Corp.
765,000		8.875%, 04/15/30			800,871
467,000		6.250%, 05/15/26			465,183
		Gulfport Energy Corp.
1,105,000		8.000%, 05/17/26*			1,115,829
311,124		8.000%, 05/17/26			314,173

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
1,460,000		Hilcorp Energy I, LP / Hilcorp Finance Company*
		6.000%, 04/15/30		$	1,418,638
782,000		Howard Midstream Energy Partners, LLC*
		6.750%, 01/15/27			784,409
459,000		Kodiak Gas Services, LLC*
		7.250%, 02/15/29			464,407
1,015,000		Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
		6.000%, 08/01/26			1,003,865
		Moss Creek Resources Holdings, Inc.*
540,000		10.500%, 05/15/27			556,173
495,000		7.500%, 01/15/26			493,431
		Nabors Industries, Inc.*
780,000		7.375%, 05/15/27			771,724
390,000		9.125%, 01/31/30			397,952
780,000		Nabors Industries, Ltd.*
		7.500%, 01/15/28			714,667
1,041,000		New Fortress Energy, Inc.*
		6.750%, 09/15/25			1,028,852
792,000		Oceaneering International, Inc.
		6.000%, 02/01/28			776,469
1,110,000		Parkland Corp.*
		5.875%, 07/15/27			1,101,941
551,000		Patterson-UTI Energy, Inc.^
		5.150%, 11/15/29			532,420
260,000		Permian Resources Operating LLC*
		7.000%, 01/15/32			268,653
1,040,000		Plains All American Pipeline, LP‡
		9.751%, 02/01/36
		3 mo. LIBOR + 4.11%			1,030,442
1,460,000		Rockcliff Energy II, LLC*
		5.500%, 10/15/29			1,360,457
521,000		Southwestern Energy Company
		4.750%, 02/01/32			482,951
1,480,100		Transocean, Inc.*
		8.750%, 02/15/30			1,548,643
		Venture Global Calcasieu Pass, LLC*
650,000		6.250%, 01/15/30			651,801
260,000		4.125%, 08/15/31			230,326
260,000		3.875%, 08/15/29			232,409
		Venture Global LNG, Inc.*
1,300,000		8.375%, 06/01/31			1,317,199
780,000		8.125%, 06/01/28			789,937
525,000		9.875%, 02/01/32			552,284
525,000		9.500%, 02/01/29			558,185
		Vital Energy, Inc.
672,000		9.750%, 10/15/30			714,524
605,000		7.750%, 07/31/29*			597,698
1,045,000		VOC Escrow, Ltd.*
		5.000%, 02/15/28			1,000,974
1,308,000		Weatherford International, Ltd.*
		8.625%, 04/30/30			1,339,588
					42,510,037
		Financials (6.7%)
1,650,000		Acrisure, LLC / Acrisure Finance, Inc.*
		8.250%, 02/01/29			1,656,006
1,562,000		Aethon United BR, LP / Aethon United Finance Corp.*
		8.250%, 02/15/26			1,558,173
746,000		AG Issuer, LLC*
		6.250%, 03/01/28			737,473
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
1,830,000		6.750%, 10/15/27			1,792,650
135,000		7.000%, 01/15/31			136,702
		Ally Financial, Inc.
1,173,000		4.700%, 02/01/36‡
		5 year CMT + 3.87%			953,004
480,000		4.700%, 02/01/36‡
		7 year CMT + 3.48%			367,162
434,000		8.000%, 11/01/31			480,642
2,082,000		AmWINS Group, Inc.*
		4.875%, 06/30/29			1,946,025
779,000		Aviation Capital Group, LLC*µ
		3.500%, 11/01/27			726,293
1,559,000		BroadStreet Partners, Inc.*
		5.875%, 04/15/29			1,480,177
1,245,000		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
		4.500%, 04/01/27			1,104,116
1,000,000		Burford Capital Global Financial, LLC*
		6.875%, 04/15/30			975,480
		Credit Acceptance Corp.
1,010,000		6.625%, 03/15/26^			1,011,333
690,000		9.250%, 12/15/28*			727,081
1,045,000		Cushman & Wakefield U.S. Borrower LLC*^
		8.875%, 09/01/31			1,097,584
1,346,000		Enact Holdings, Inc.*µ
		6.500%, 08/15/25			1,343,793
1,170,000		GGAM Finance, Ltd.*
		8.000%, 02/15/27			1,207,475
1,292,000		Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
		3.750%, 12/15/27			1,104,880
1,050,000		GTCR W-2 Merger Sub, LLC*
		7.500%, 01/15/31			1,094,866
585,000		HAT Holdings I LLC / HAT Holdings II LLC*
		8.000%, 06/15/27			606,791
		HUB International, Ltd.*
1,571,000		5.625%, 12/01/29			1,483,307
525,000		7.375%, 01/31/32			537,358
781,000		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
		4.375%, 02/01/29			653,486
1,420,000		ILFC E-Capital Trust II*‡
		7.436%, 12/21/65
		3 mo. LIBOR + 1.80%			1,125,520
2,155,000		Iron Mountain, Inc.*
		5.250%, 03/15/28			2,091,471
2,640,000		Jefferies Finance, LLC / JFIN Co-Issuer Corp.*
		5.000%, 08/15/28			2,383,656
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
2,029,000		5.250%, 10/01/25			1,996,637
1,127,000		4.750%, 06/15/29			1,009,409

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
960,000		LD Holdings Group, LLC*
		6.125%, 04/01/28		$	783,341
		Level 3 Financing, Inc.*
1,080,000		4.250%, 07/01/28			363,150
525,000		4.625%, 09/15/27			277,169
774,000		LPL Holdings, Inc.*
		4.000%, 03/15/29			713,806
1,055,000		Macquarie Airfinance Holdings, Ltd.*
		8.125%, 03/30/29			1,095,575
1,623,000		MetLife, Inc.^
		6.400%, 12/15/66			1,658,187
1,415,000		Nationstar Mortgage Holdings, Inc.*
		5.500%, 08/15/28			1,348,056
		Navient Corp.
1,133,000		5.000%, 03/15/27			1,081,347
565,000		4.875%, 03/15/28^			513,901
650,000		Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
		4.500%, 09/30/28			553,137
525,000		Newmark Group, Inc.*
		7.500%, 01/12/29			536,571
		OneMain Finance Corp.
730,000		9.000%, 01/15/29			769,537
715,000		3.875%, 09/15/28			628,356
518,000		7.125%, 03/15/26^			525,356
517,000		Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
		5.875%, 10/01/28			506,184
1,602,000		PHH Mortgage Corp.*
		7.875%, 03/15/26			1,480,008
1,200,000		RHP Hotel Properties, LP / RHP Finance Corp.*
		4.500%, 02/15/29			1,116,396
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
475,000		3.625%, 03/01/29			423,952
470,000		3.875%, 03/01/31			413,050
240,000		2.875%, 10/15/26			222,737
1,047,000		StoneX Group, Inc.*
		8.625%, 06/15/25			1,058,967
		United Wholesale Mortgage, LLC*
1,212,000		5.500%, 04/15/29			1,146,164
525,000		5.750%, 06/15/27			516,017
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
525,000		6.500%, 02/15/29			370,492
520,000		10.500%, 02/15/28			529,178
1,200,000		VZ Secured Financing, BV*
		5.000%, 01/15/32			1,049,352
1,091,000		XHR, LP*
		6.375%, 08/15/25			1,092,800
					54,161,336
		Health Care (2.8%)
		Bausch Health Companies, Inc.*
2,092,000		11.000%, 09/30/28			1,437,894
413,000		14.000%, 10/15/30			233,717
391,000		6.125%, 02/01/27			248,164
		CHS/Community Health Systems, Inc.*
2,075,000		6.125%, 04/01/30			1,374,563
594,000		6.875%, 04/15/29			410,015
583,000		8.000%, 03/15/26			574,442
525,000		10.875%, 01/15/32			551,581
130,000		5.250%, 05/15/30			108,061
		DaVita, Inc.*
1,220,000		3.750%, 02/15/31			1,006,402
1,154,000		4.625%, 06/01/30			1,021,902
		Embecta Corp.*
783,000		5.000%, 02/15/30			641,543
260,000		6.750%, 02/15/30			229,414
		Encompass Health Corp.
525,000		4.750%, 02/01/30			493,505
525,000		4.500%, 02/01/28			502,241
1,234,000		HCA, Inc.^
		7.500%, 11/06/33			1,393,297
340,000		Jazz Securities DAC*
		4.375%, 01/15/29			314,554
		Medline Borrower, LP*
1,297,000		5.250%, 10/01/29^			1,210,360
1,295,000		3.875%, 04/01/29			1,173,969
		Organon & Company / Organon Foreign Debt Co-Issuer, BV*
1,900,000		5.125%, 04/30/31			1,636,641
450,000		4.125%, 04/30/28			411,728
1,103,000		Team Health Holdings, Inc.*
		6.375%, 02/01/25			932,476
		Tenet Healthcare Corp.
2,465,000		6.250%, 02/01/27			2,460,193
1,420,000		6.875%, 11/15/31			1,463,764
		Teva Pharmaceutical Finance Netherlands III, BV
1,320,000		5.125%, 05/09/29^			1,274,104
1,000,000		4.750%, 05/09/27			967,500
500,000		3.150%, 10/01/26			466,790
					22,538,820
		Industrials (5.9%)
1,200,000		ACCO Brands Corp.*^
		4.250%, 03/15/29			1,089,084
825,000		AerCap Holdings, NV^‡
		5.875%, 10/10/79
		5 year CMT + 4.54%			819,596
1,055,000		Air Lease Corp.‡
		4.125%, 02/01/36
		5 year CMT + 3.15%			894,176
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
1,750,000		4.625%, 01/15/27			1,698,952
780,000		5.875%, 02/15/28			779,602
937,000		Allegiant Travel Company*
		7.250%, 08/15/27			916,854
587,000		Arcosa, Inc.*
		4.375%, 04/15/29			550,900
2,650,000		ARD Finance, SA*
		6.500%, 06/30/27
		7.250% PIK rate			1,285,992
821,000		Beacon Roofing Supply, Inc.*
		4.125%, 05/15/29			744,434
		Bombardier, Inc.*
533,000		7.875%, 04/15/27			533,736
520,000		8.750%, 11/15/30			547,186
1,044,000		BWX Technologies, Inc.*
		4.125%, 04/15/29			968,936
1,078,000		Cascades, Inc. / Cascades USA, Inc.*
		5.375%, 01/15/28			1,057,928

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
257,000		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*µ
		4.750%, 10/20/28		$	252,968
1,360,000		Deluxe Corp.*
		8.000%, 06/01/29			1,225,197
1,048,000		Eco Material Technologies, Inc.*
		7.875%, 01/31/27			1,049,425
520,000		Emerald Debt Merger Sub, LLC*
		6.625%, 12/15/30			525,668
		EnerSys*
500,000		6.625%, 01/15/32			507,220
500,000		4.375%, 12/15/27			473,770
634,000		Graham Packaging Company, Inc.*
		7.125%, 08/15/28			569,662
		Graphic Packaging International, LLC*
675,000		4.750%, 07/15/27			657,626
484,000		3.500%, 03/01/29			437,754
1,141,000		Great Lakes Dredge & Dock Corp.*^
		5.250%, 06/01/29			990,970
2,438,000		H&E Equipment Services, Inc.*
		3.875%, 12/15/28			2,215,654
1,289,000		Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
		5.750%, 01/20/26			1,212,304
1,350,000		Herc Holdings, Inc.*
		5.500%, 07/15/27			1,326,928
1,210,000		IEA Energy Services, LLC*
		6.625%, 08/15/29			1,138,828
		JELD-WEN, Inc.*
727,000		4.625%, 12/15/25			711,021
540,000		4.875%, 12/15/27^			515,732
1,690,000		Ken Garff Automotive, LLC*
		4.875%, 09/15/28			1,579,288
1,040,000		Knife River Holding Company*
		7.750%, 05/01/31			1,094,142
255,000		MasTec, Inc.*µ^
		4.500%, 08/15/28			239,601
650,000		Moog, Inc.*
		4.250%, 12/15/27			609,466
1,302,000		Newfold Digital Holdings Group, Inc.*
		6.000%, 02/15/29			986,213
1,040,000		Novelis Corp.*
		4.750%, 01/30/30			965,879
390,000		OI European Group, BV*
		4.750%, 02/15/30			361,343
1,200,000		Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*^
		4.000%, 10/15/27			1,120,380
		Sealed Air Corp.*
809,000		6.125%, 02/01/28			813,417
261,000		5.000%, 04/15/29^			251,758
260,000		Sealed Air Corp./Sealed Air Corp. U.S.*
		7.250%, 02/15/31			272,761
400,000		Sensata Technologies, BV*
		4.000%, 04/15/29			366,400
519,000		Sensata Technologies, Inc.*
		3.750%, 02/15/31			452,111
		Sinclair Television Group, Inc.*
774,000		4.125%, 12/01/30			598,797
515,000		5.500%, 03/01/30			397,168
1,030,000		Standard Industries, Inc.*
		5.000%, 02/15/27			1,001,912
835,000		Stericycle, Inc.*
		3.875%, 01/15/29			760,201
779,000		STL Holding Company, LLC*
		7.500%, 02/15/26			793,466
260,000		Summit Materials LLC / Summit Materials Finance Corp.*
		7.250%, 01/15/31			270,426
		TransDigm, Inc.
1,125,000		6.875%, 12/15/30*			1,157,006
815,000		7.500%, 03/15/27			817,681
790,000		6.750%, 08/15/28*			803,959
589,000		6.250%, 03/15/26*			586,214
390,000		7.125%, 12/01/31*			406,868
1,039,000		Tronox, Inc.*
		4.625%, 03/15/29			918,559
383,042		United Airlines Pass Through Trust Series 2019-2, Class B
		3.500%, 11/01/29			350,304
1,039,000		Vertiv Group Corp.*
		4.125%, 11/15/28			967,693
1,095,000		Wabash National Corp.*
		4.500%, 10/15/28			998,585
915,000		Waste Pro USA, Inc.*
		5.500%, 02/15/26			889,115
		Williams Scotsman, Inc.*
604,000		4.625%, 08/15/28			570,303
530,000		7.375%, 10/01/31			555,721
					47,654,840
		Information Technology (1.9%)
266,000		Booz Allen Hamilton, Inc.*
		4.000%, 07/01/29			249,859
604,000		Coherent Corp.*
		5.000%, 12/15/29			565,725
606,000		CommScope Technologies, LLC*^
		6.000%, 06/15/25			482,315
955,000		CommScope, Inc.*
		4.750%, 09/01/29			632,391
660,000		Dell International, LLC / EMC Corp.µ
		6.020%, 06/15/26			674,560
522,000		Dun & Bradstreet Corp.*^
		5.000%, 12/15/29			485,825
520,000		Fair Isaac Corp.*
		4.000%, 06/15/28			484,739
1,130,000		KBR, Inc.*
		4.750%, 09/30/28			1,042,561
		MPH Acquisition Holdings, LLC*
1,130,000		5.750%, 11/01/28			899,740
520,000		5.500%, 09/01/28			462,405
528,000		NCL Corp., Ltd.*
		8.125%, 01/15/29			554,294
522,000		NCR Voyix Corp.*
		5.125%, 04/15/29			491,552
771,000		ON Semiconductor Corp.*
		3.875%, 09/01/28			707,855
		Open Text Corp.*
780,000		3.875%, 02/15/28			725,111
525,000		6.900%, 12/01/27			545,743
391,000		3.875%, 12/01/29			353,108
391,000		Open Text Holdings, Inc.*^
		4.125%, 12/01/31			346,199
969,000		Playtika Holding Corp.*
		4.250%, 03/15/29			840,792

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
1,450,000		TTM Technologies, Inc.*
		4.000%, 03/01/29		$	1,312,207
		Twilio, Inc.
725,000		3.625%, 03/15/29			655,538
259,000		3.875%, 03/15/31			228,412
394,000		UKG, Inc.*
		6.875%, 02/01/31			398,862
1,300,000		Viavi Solutions, Inc.*
		3.750%, 10/01/29			1,133,158
1,200,000		ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
		3.875%, 02/01/29			1,069,200
					15,342,151
		Materials (1.8%)
555,000		ArcelorMittal, SA
		7.000%, 10/15/39			605,932
500,000		ATI, Inc.
		5.875%, 12/01/27			492,335
258,000		Carpenter Technology Corp.
		7.625%, 03/15/30			266,994
780,000		Chemours Company*
		4.625%, 11/15/29			682,835
1,640,000		Clearwater Paper Corp.*
		4.750%, 08/15/28			1,539,944
780,000		Cleveland-Cliffs, Inc.*
		6.750%, 04/15/30			787,192
		Commercial Metals Company
522,000		4.125%, 01/15/30			477,745
261,000		4.375%, 03/15/32			233,645
1,210,000		Constellium, SE*^
		3.750%, 04/15/29			1,090,912
512,000		HB Fuller Company
		4.250%, 10/15/28			477,624
525,000		INEOS Finance, PLC*^
		6.750%, 05/15/28			513,833
800,000		JW Aluminum Continuous Cast Company*
		10.250%, 06/01/26			808,944
920,000		Kaiser Aluminum Corp.*
		4.625%, 03/01/28			848,378
260,000		LSF11 A5 HoldCo, LLC*
		6.625%, 10/15/29			221,671
		Mercer International, Inc.
1,367,000		5.125%, 02/01/29			1,173,665
520,000		12.875%, 10/01/28*			559,192
1,015,000		OCI, NV*
		6.700%, 03/16/33			1,014,838
		Owens-Brockway Glass Container, Inc.*^
785,000		7.250%, 05/15/31			792,457
505,000		6.625%, 05/13/27			505,626
1,194,000		Silgan Holdings, Inc.
		4.125%, 02/01/28			1,124,891
521,000		Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
		5.125%, 04/01/29			204,743
					14,423,396
		Other (0.1%)
		Gen Digital, Inc.*
475,000		7.125%, 09/30/30^			492,922
475,000		6.750%, 09/30/27			482,951
					975,873
		Real Estate (0.4%)
834,000		EPR Properties
		3.750%, 08/15/29			743,695
		Forestar Group, Inc.*
750,000		5.000%, 03/01/28			713,385
551,000		3.850%, 05/15/26			524,040
1,168,000		MIWD Holdco II, LLC / MIWD Finance Corp.*
		5.500%, 02/01/30			1,064,398
485,000		Service Properties Trust^
		5.250%, 02/15/26			469,994
					3,515,512
		Special Purpose Acquisition Companies (0.2%)
		Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
1,045,000		6.750%, 01/15/30			940,699
524,000		4.625%, 01/15/29			482,986
					1,423,685
		Utilities (0.1%)
379,000		PPL Capital Funding, Inc.‡
		8.275%, 03/30/67
		3 mo. LIBOR + 2.67%			363,692
		Vistra Corp.*‡
525,000		7.000%, 02/01/68
		5 year CMT + 5.74%			512,505
270,000		8.000%, 02/01/68
		5 year CMT + 6.93%			271,250
					1,147,447
		Total Corporate Bonds
		(Cost $335,305,404)			330,335,027
Convertible Bonds (104.3%)
		Communication Services (9.5%)
1,040,000		Cable One, Inc.µ
		0.000%, 03/15/26			893,474
		Liberty Media Corp.*
9,250,000		3.750%, 03/15/28			11,476,105
8,750,000		2.375%, 09/30/53			9,185,312
9,750,000		Liberty Media Corp.-Liberty Formula One
		2.250%, 08/15/27			10,161,645
5,750,000		Match Group Financeco 3, Inc.*µ~
		2.000%, 01/15/30			5,119,800
6,750,000		Perficient, Inc.µ
		0.125%, 11/15/26			5,747,625
16,500,000		Sea, Ltd.
		0.250%, 09/15/26			13,914,120
		Snap, Inc.µ
11,500,000		0.000%, 05/01/27			9,263,595
6,000,000		0.750%, 08/01/26			6,299,100
3,750,000		Zillow Group, Inc.µ
		1.375%, 09/01/26			5,122,988
					77,183,764
		Consumer Discretionary (20.9%)
12,250,000		Airbnb, Inc.µ
		0.000%, 03/15/26			11,136,475
5,000,000		Booking Holdings, Inc.µ
		0.750%, 05/01/25			9,335,350

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
4,500,000		Carnival Corp.
		5.750%, 12/01/27		$	6,851,565
7,500,000		Chegg, Inc.µ
		0.000%, 09/01/26			6,232,650
		DISH Network Corp.µ
15,570,000		0.000%, 12/15/25			11,144,227
1,026,000		2.375%, 03/15/24			1,005,942
12,500,000		DraftKings Holdings, Inc.µ
		0.000%, 03/15/28			10,429,625
14,000,000		Etsy, Inc.µ
		0.125%, 09/01/27			11,611,320
18,500,000		Ford Motor Company
		0.000%, 03/15/26			18,032,505
9,250,000		Liberty Broadband Corp.*µ
		3.125%, 03/31/53			9,082,482
2,620,000		Lucid Group, Inc.*
		1.250%, 12/15/26			1,041,738
11,000,000		Marriott Vacations Worldwide Corp.µ
		3.250%, 12/15/27			9,727,960
12,250,000		Rivian Automotive, Inc.*µ
		4.625%, 03/15/29			13,048,455
2,250,000		Royal Caribbean Cruises, Ltd.
		6.000%, 08/15/25			5,892,885
6,250,000		Shake Shack, Inc.µ
		0.000%, 03/01/28			5,122,188
3,500,000		Stride, Inc.
		1.125%, 09/01/27			4,487,735
16,250,000		Vail Resorts, Inc.µ
		0.000%, 01/01/26			14,675,700
14,500,000		Wayfair, Inc.µ
		3.250%, 09/15/27			16,011,045
3,991,000		Winnebago Industries, Inc.*µ
		3.250%, 01/15/30			4,106,819
					168,976,666
		Consumer Staples (0.6%)
5,000,000		Post Holdings, Inc.
		2.500%, 08/15/27			5,205,450
		Energy (2.0%)
5,265,000		Nabors Industries, Inc.*µ
		1.750%, 06/15/29			3,896,784
4,500,000		Northern Oil & Gas, Inc.
		3.625%, 04/15/29			5,013,495
3,000,000		Pioneer Natural Resources Companyµ
		0.250%, 05/15/25			7,459,020
		SunEdison, Inc.@&
10,545,000		0.250%, 01/15/49			105,450
1,027,000		2.000%, 10/01/49			10,270
					16,485,019
		Financials (1.3%)
9,250,000		Morgan Stanley Finance, LLC
		1.000%, 11/23/27			10,765,150
		Health Care (21.8%)
5,000,000		Alnylam Pharmaceuticals, Inc.µ
		1.000%, 09/15/27			4,824,650
6,000,000		Alphatec Holdings, Inc.µ
		0.750%, 08/01/26			6,585,660
6,019,000		BioMarin Pharmaceutical, Inc.µ
		0.599%, 08/01/24			5,929,979
10,250,000		CONMED Corp.µ
		2.250%, 06/15/27			9,752,055
13,500,000		CryoPort, Inc.*µ
		0.750%, 12/01/26			11,059,335
		Dexcom, Inc.µ
17,458,000		0.250%, 11/15/25			18,074,791
8,750,000		0.375%, 05/15/28*			8,818,950
3,067,000		Enovis Corp.*
		3.875%, 10/15/28			3,791,763
4,500,000		Envista Holdings Corp.*µ
		1.750%, 08/15/28			4,109,895
		Exact Sciences Corp.µ
7,500,000		0.375%, 03/15/27			6,970,800
4,000,000		2.000%, 03/01/30*			4,442,920
7,750,000		Halozyme Therapeutics, Inc.µ
		1.000%, 08/15/28			7,032,117
2,278,000		Immunocore Holdings, PLC*
		2.500%, 02/01/30			2,313,594
4,750,000		Insmed, Inc.µ
		0.750%, 06/01/28			5,177,120
5,000,000		Insulet Corp.µ
		0.375%, 09/01/26			5,355,900
9,750,000		Integer Holdings Corp.*
		2.125%, 02/15/28			12,703,567
4,750,000		Ionis Pharmaceuticals, Inc.
		0.000%, 04/01/26			5,051,863
10,905,000		Jazz Investments I, Ltd.µ
		2.000%, 06/15/26			10,996,820
4,040,000		Lantheus Holdings, Inc.µ
		2.625%, 12/15/27			4,188,228
11,250,000		NeoGenomics, Inc.µ
		0.250%, 01/15/28			8,597,137
9,500,000		Omnicell, Inc.µ
		0.250%, 09/15/25			8,733,350
8,750,000		Pacira BioSciences, Inc.µ
		0.750%, 08/01/25			8,131,375
4,000,000		Sarepta Therapeutics, Inc.
		1.250%, 09/15/27			4,515,200
9,000,000		Shockwave Medical, Inc.*
		1.000%, 08/15/28			9,519,120
					176,676,189
		Industrials (8.0%)
4,750,000		Axon Enterprise, Inc.
		0.500%, 12/15/27			5,839,127
4,500,000		Fluor Corp.*^
		1.125%, 08/15/29			4,767,885
7,750,000		John Bean Technologies Corp.µ
		0.250%, 05/15/26			7,019,485
4,750,000		Middleby Corp.
		1.000%, 09/01/25			5,612,743
3,250,000		Parsons Corp.
		0.250%, 08/15/25			4,829,695
4,500,000		Tetra Tech, Inc.*
		2.250%, 08/15/28			4,576,320
		Uber Technologies, Inc.
21,750,000		0.000%, 12/15/25µ			22,482,975
8,646,000		0.875%, 12/01/28*			9,658,360
					64,786,590
		Information Technology (33.5%)
4,500,000		Advanced Energy Industries, Inc.*
		2.500%, 09/15/28			4,663,980
		Akamai Technologies, Inc.
9,000,000		1.125%, 02/15/29*			10,004,940
4,750,000		0.375%, 09/01/27µ			5,442,123
10,000,000		Bentley Systems, Inc.
		0.125%, 01/15/26			9,807,400

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
11,750,000		BILL Holdings, Inc.µ
		0.000%, 04/01/27		$	9,872,467
3,500,000		Camtek, Ltd.*
		0.000%, 12/01/26			4,999,715
6,250,000		Confluent, Inc.µ
		0.000%, 01/15/27			5,233,938
8,250,000		CyberArk Software, Ltd.
		0.000%, 11/15/24			12,414,270
5,171,000		Datadog, Inc.µ
		0.125%, 06/15/25			7,318,309
6,750,000		DigitalOcean Holdings, Inc.µ
		0.000%, 12/01/26			5,566,118
10,012,000		Enphase Energy, Inc.µ
		0.000%, 03/01/26			8,993,179
2,250,000		Five9, Inc.µ
		0.500%, 06/01/25			2,163,105
2,250,000		MongoDB, Inc.µ
		0.250%, 01/15/26			4,370,468
		NCL Corp., Ltd.
6,500,000		1.125%, 02/15/27µ			5,785,845
5,000,000		2.500%, 02/15/27µ			4,579,600
3,250,000		5.375%, 08/01/25			3,918,915
6,750,000		Nutanix, Inc.µ
		0.250%, 10/01/27			7,749,877
		Okta, Inc.µ
8,000,000		0.125%, 09/01/25			7,392,000
4,250,000		0.375%, 06/15/26			3,779,313
18,500,000		ON Semiconductor Corp.*µ
		0.500%, 03/01/29			17,969,050
6,000,000		Palo Alto Networks, Inc.µ
		0.375%, 06/01/25			20,411,880
2,250,000		Q2 Holdings, Inc.µ
		0.750%, 06/01/26			2,054,723
8,250,000		Rapid7, Inc.
		1.250%, 03/15/29			9,032,842
12,250,000		Repay Holdings Corp.*µ
		0.000%, 02/01/26			10,414,460
4,500,000		Seagate HDD Cayman*
		3.500%, 06/01/28			5,419,215
15,000,000		Shift4 Payments, Inc.
		0.000%, 12/15/25			16,549,950
7,000,000		SK Hynix, Inc.
		1.750%, 04/11/30			9,229,710
10,750,000		Tyler Technologies, Inc.^
		0.250%, 03/15/26			10,910,712
13,250,000		Unity Software, Inc.µ
		0.000%, 11/15/26			11,022,277
5,500,000		Western Digital Corp.*
		3.000%, 11/15/28			7,144,170
7,000,000		Wix.com, Ltd.
		0.000%, 08/15/25			6,404,440
		Wolfspeed, Inc.
9,500,000		1.875%, 12/01/29			5,478,745
5,711,000		0.250%, 02/15/28			3,382,854
4,500,000		Workiva, Inc.*µ
		1.250%, 08/15/28			4,335,435
4,500,000		Zscaler, Inc.
		0.125%, 07/01/25			7,162,830
					270,978,855
		Materials (1.9%)
1,500,000		ATI, Inc.
		3.500%, 06/15/25			4,000,275
3,750,000		Ivanhoe Mines, Ltd.*
		2.500%, 04/15/26			5,597,250
6,858,000		MP Materials Corp.*µ
		0.250%, 04/01/26			5,890,816
					15,488,341
		Other (0.1%)
525,000		Multiplan Corp.*µ
		6.000%, 10/15/27
		7.000% PIK rate			367,721
		Real Estate (0.7%)
6,500,000		Pebblebrook Hotel Trustµ
		1.750%, 12/15/26			5,831,410
		Utilities (4.0%)
4,500,000		CMS Energy Corp.*
		3.375%, 05/01/28			4,414,725
7,000,000		PG&E Corp.*µ
		4.250%, 12/01/27			7,135,730
16,500,000		PPL Capital Funding, Inc.*
		2.875%, 03/15/28			15,742,815
4,750,000		Southern Company*
		3.875%, 12/15/25			4,732,188
					32,025,458
		Total Convertible Bonds
		(Cost $882,749,281)			844,770,613
Bank Loans (6.4%) ¡
		Airlines (0.2%)
748,000		American Airlines, Inc.‡
		10.329%, 04/20/28
		3 mo. SOFR + 4.75%			767,583
752,500		Mileage Plus Holdings, LLC‡
		10.770%, 06/21/27
		3 mo. SOFR + 5.25%			776,565
					1,544,148
		Communication Services (0.3%)
126,698		Clear Channel Outdoor Holdings, Inc.‡
		9.074%, 08/21/26
		3 mo. SOFR + 3.50%			125,443
865,000		DirecTV Financing, LLC!
		0.000%, 08/02/29			865,722
1,527,000		Entercom Media Corp.‡&
		8.145%, 11/18/24
		3 mo. SOFR + 2.50%			857,388
525,000		Telesat Canada‡
		8.400%, 12/07/26
		3 mo. SOFR + 2.75%			322,284
					2,170,837
		Consumer Discretionary (1.3%)
768,000		American Axle & Manufacturing, Inc.‡
		8.936%, 12/13/29
		1 mo. SOFR + 3.50%			769,444
1,066,938		Caesars Entertainment, Inc.‡
		8.663%, 02/06/30
		3 mo. SOFR + 3.25%			1,067,791
1,196,947		Carnival Corp.‡
		8.697%, 10/18/28
		1 mo. SOFR + 3.25%			1,198,628

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
1,044,750		Carnival Corp.‡
		8.336%, 08/08/27
		1 mo. SOFR + 3.00%		$	1,046,578
1,042,125		Hanesbrands, Inc.‡
		9.083%, 03/08/30
		1 mo. SOFR + 3.75%			1,038,217
596,912		Life Time Fitness, Inc.‡
		9.824%, 01/15/26
		3 mo. SOFR + 4.25%			601,090
631,932		Petco Health & Wellness Company, Inc.‡
		8.860%, 03/03/28
		3 mo. SOFR + 3.25%			594,878
2,575,295		PetSmart, Inc.‡
		9.183%, 02/11/28
		1 mo. SOFR + 3.75%			2,566,990
647,719		TKC Holdings, Inc.‡
		10.947%, 05/15/28
		1 mo. SOFR + 5.50%			628,126
1,049,338		Windsor Holdings III, LLC‡
		9.848%, 08/01/30
		1 mo. SOFR + 4.50%			1,052,108
					10,563,850
		Consumer Staples (0.7%)
2,215,189		Amneal Pharmaceuticals, LLC‡
		10.833%, 05/04/28
		1 mo. SOFR + 5.50%			2,204,113
1,844,274		Jazz Financing Lux Sarl‡
		8.447%, 05/05/28
		1 mo. SOFR + 3.00%			1,845,427
1,050,000		Star Parent, Inc.‡
		9.348%, 09/27/30
		3 mo. SOFR + 4.00%			1,027,031
529,478		United Natural Foods, Inc.‡
		8.697%, 10/22/25
		1 mo. SOFR + 3.25%			529,120
					5,605,691
		Energy (0.3%)
815,000		Buckeye Partners, LP‡
		7.833%, 11/22/30
		1 mo. SOFR + 2.50%			815,680
525,000		New Fortress Energy, Inc.‡
		10.317%, 10/27/28
		3 mo. SOFR + 5.00%			526,050
1,326,284		Par Petroleum, LLC‡
		9.738%, 02/28/30
		3 mo. SOFR + 4.25%			1,327,445
					2,669,175
		Financials (0.9%)
265,000		Advisor Group, Inc.‡
		9.833%, 08/17/28
		1 mo. SOFR + 4.50%			265,083
864,245		Alliant Holdings Intermediate LLC‡
		8.833%, 11/06/30
		1 mo. SOFR + 3.50%			867,028
776,105		Amynta Agency Borrower, Inc.‡
		9.583%, 02/28/28
		1 mo. SOFR + 4.25%			777,351
1,036,809		AssuredPartners, Inc.‡
		8.833%, 02/12/27
		1 mo. SOFR + 3.50%			1,034,647
788,025		Avolon TLB Borrower 1, LLC‡
		7.337%, 06/22/28
		1 mo. SOFR + 2.00%			788,746
550,000		Broadstreet Partners, Inc.‡
		9.083%, 01/27/29
		1 mo. SOFR + 3.75%			550,344
1,336		Castlelake Aviation, Ltd.‡
		8.116%, 10/22/26
		3 mo. SOFR + 2.75%			1,336
1,100,000		HUB International, Ltd.!
		0.000%, 06/20/30			1,101,892
785,000		Iron Mountain, Inc.‡
		7.569%, 01/31/31
		3 mo. SOFR + 2.25%			781,813
1,395,992		VFH Parent, LLC‡
		8.433%, 01/13/29
		1 mo. SOFR + 3.00%			1,395,294
					7,563,534
		Health Care (0.5%)
528,571		Icon Luxembourg Sarl‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			529,726
1,152,941		Padagis, LLC‡
		10.341%, 07/06/28
		3 mo. SOFR + 4.75%			1,118,359
131,694		PRA Health Sciences, Inc.‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			131,981
2,585,863		Team Health Holdings, Inc.‡
		10.563%, 03/02/27
		3 mo. SOFR + 5.25%			2,156,262
7,373		Team Health Holdings, Inc.‡
		10.583%, 03/02/27
		1 mo. SOFR + 5.25%			6,166
					3,942,494
		Industrials (0.8%)
534,400		ACProducts, Inc.!
		0.000%, 05/17/28			463,654
507,000		ACProducts, Inc.‡
		9.860%, 05/17/28
		3 mo. SOFR + 4.25%			439,881
640,250		Air Canada‡
		9.139%, 08/11/28
		3 mo. SOFR + 3.50%			641,700
987,587		ChampionX Corp.‡
		8.187%, 06/07/29
		1 mo. SOFR + 2.75%			991,908
645,519		Emrld Borrower, LP‡
		8.313%, 05/31/30
		1 mo. SOFR + 3.00%			646,448
1,182,000		Light and Wonder International, Inc.‡
		8.083%, 04/14/29
		1 mo. SOFR + 3.00%			1,182,000
1,065,000		TransDigm, Inc.‡
		8.598%, 02/14/31
		3 mo. SOFR + 3.25%			1,067,561
1,006,240		United Airlines, Inc.‡
		9.201%, 04/21/28
		1 mo. SOFR + 3.75%			1,009,465
					6,442,617

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

  

PRINCIPAL
AMOUNT				VALUE
		Information Technology (0.5%)
1,403,400		Banff Merger Sub, Inc.‡
		9.583%, 12/29/28
		1 mo. SOFR + 4.25%		$	1,406,908
808,981		Camelot US Acquisition, LLC‡
		8.337%, 10/30/26
		1 mo. SOFR + 3.00%			809,385
982,975		Central Parent, Inc.‡
		9.348%, 07/06/29
		3 mo. SOFR + 4.00%			986,047
919,087		II-VI, Inc.‡
		8.087%, 07/02/29
		1 mo. SOFR + 2.75%			916,559
					4,118,899
		Materials (0.7%)
783,038		Chemours Company‡
		8.833%, 08/18/28
		1 mo. SOFR + 3.50%			782,255
1,044,750		Ineos US Finance, LLC‡
		8.837%, 02/18/30
		1 mo. SOFR + 3.50%			1,034,626
800,333		Innophos, Inc.‡
		8.697%, 02/05/27
		1 mo. SOFR + 3.25%			791,166
1,308,425		LSF11 A5 Holdco, LLC‡
		9.683%, 10/15/28
		1 mo. SOFR + 4.25%			1,310,067
780,404		Trinseo Materials Operating SCA‡
		8.150%, 05/03/28
		3 mo. SOFR + 2.50%			599,221
1,070,419		W.R. Grace & Co.-Conn.‡
		9.360%, 09/22/28
		3 mo. SOFR + 3.75%			1,073,004
					5,590,339
		Special Purpose Acquisition Companies (0.2%)
522,050		Clydesdale Acquisition Holdings, Inc.‡
		9.108%, 04/13/29
		1 mo. SOFR + 3.68%			519,356
260,363		Fertitta Entertainment, LLC‡
		9.333%, 01/27/29
		1 mo. SOFR + 4.00%			259,961
1,046,750		Patagonia Holdco, LLC‡
		11.116%, 08/01/29
		3 mo. SOFR + 5.75%			962,487
					1,741,804
		Total Bank Loans
		(Cost $52,855,171)			51,953,388
NUMBER OF
SHARES				VALUE
Common Stocks (0.4%)
		Communication Services (0.0%)
21,970		Altice USA, Inc. - Class A^#			53,607
7,383		Cumulus Media, Inc. - Class Aµ#			33,962
					87,569
		Consumer Staples (0.0%)
7,203		Mallinckrodt, PLC#			275,515
		Energy (0.4%)
1,506		Chesapeake Energy Corp.µ			116,128
72,575		Energy Transfer, LP			1,037,822
43,085		Enterprise Products Partners, LP			1,152,954
7,238		Ep Energy Corp.#			21,714
9,267		ONEOK, Inc.^			632,473
					2,961,091
		Special Purpose Acquisition Company (0.0%)
12,300		Intelsat Emergence, SA&#			335,175
		Total Common Stocks
		(Cost $4,766,897)			3,659,350
Convertible Preferred Stocks (3.4%)
		Energy (0.0%)
29		Gulfport Energy Corp.
		10.000%, 03/04/24
		15.000% PIK rate			268,250
		Financials (2.0%)
89,885		Apollo Global Management, Inc.
		6.750%, 07/31/26			5,251,081
8,775		Bank of America Corp. ‡‡
		7.250%			10,686,634
					15,937,715
		Industrials (0.5%)
81,495		Chart Industries, Inc.
		6.750%, 12/15/25			4,060,081
		Utilities (0.9%)
194,000		NextEra Energy, Inc.^
		6.926%, 09/01/25			7,218,740
		Total Convertible Preferred Stocks
		(Cost $30,905,605)			27,484,786
Preferred Stocks (0.4%)
		Communication Services (0.1%)
		United States Cellular Corp.µ
12,900		5.500%, 06/01/70			236,715
12,370		5.500%, 03/01/70			228,969
					465,684
		Consumer Discretionary (0.1%)
6,662		Guitar Center, Inc.&			546,284
		Energy (0.2%)
32,380		NuStar Energy, LP‡
		11.282%,
		3 mo. LIBOR + 5.64%			832,166
7,920		NuStar Energy, LP‡
		12.405%,
		3 mo. LIBOR + 6.77%			204,494

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible and High Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

  

NUMBER OF
SHARES				VALUE
47,000		NuStar Logistics, LP‡
		12.310%, 01/15/43
		3 mo. LIBOR + 6.73%		$	1,215,420
					2,252,080
		Total Preferred Stocks
		(Cost $3,419,819)			3,264,048
Warrants (0.0%) #
		Energy (0.0%)
52,447		Mcdermott International, Ltd.&
		06/30/27, Strike $15.98			5
47,202		Mcdermott International, Ltd.&
		06/30/27, Strike $12.33			5
		Total Warrants
		(Cost $20,126)			10
NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
Purchased Option (0.1%) #
		Information Technology (0.1%)
400		Zscaler, Inc.
9,426,800		Put, 06/21/24, Strike $200.00
		(Cost $545,368)			412,000
		TOTAL INVESTMENTS (155.9%)
		(Cost $1,311,353,373)			1,262,661,362
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-17.9%)					(145,000,000	)
LIABILITIES, LESS OTHER ASSETS (-38.0%)					(307,976,995	)
NET ASSETS (100.0%)				$	809,684,367

  

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 Funds. 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 $507,225,661.
@	In default status and considered non-income producing.
^	Security, or portion of security, is on loan.
&	Illiquid security.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.
~	Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options. The aggregate value of such securities is $912,660.
¡	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.
#	Non-income producing security.
‡‡	Perpetual maturity.
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.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Securities		$	—			$	782,140			$	—			$	782,140
Corporate Bonds			—				330,335,027				—				330,335,027
Convertible Bonds			—				844,770,613				—				844,770,613
Bank Loans			—				51,953,388				—				51,953,388
Common Stocks			3,026,946				632,404				—				3,659,350
Convertible Preferred Stocks			27,216,536				268,250				—				27,484,786
Preferred Stocks			2,717,764				546,284				—				3,264,048
Warrants			—				10				—				10
Purchased Options			412,000				—				—				412,000
Total		$	33,373,246			$	1,229,288,116			$	—			$	1,262,661,362

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
Asset Backed Security (0.0%)
				Other (0.0%)
	955,000			SVC ABS, LLC Series 2023-1A, Class C*
				6.700%, 02/20/53
				(Cost $882,759)		$	878,757
Corporate Bonds (16.2%)
				Airlines (0.2%)
	1,070,769			Alaska Airlines Pass Through Trust Series 2020-1, Class A*
				4.800%, 02/15/29			1,039,417
	511,510			Alaska Airlines Pass Through Trust Series 2020-1, Class B*
				8.000%, 02/15/27			516,789
	1,235,220			American Airlines Pass Through Trust Series 2021-1, Class B
				3.950%, 01/11/32			1,102,026
	663,000			American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
				5.500%, 04/20/26			656,987
	1,162,907			British Airways Pass Through Trust Series 2021-1, Class B*
				3.900%, 03/15/33			1,055,117
	971,396			JetBlue Pass Through Trust Series 2020-1, Class B
				7.750%, 05/15/30			979,769
							5,350,105
				Communication Services (1.6%)
	700,000			Altice France Holding, SA*
				10.500%, 05/15/27			404,495
	1,400,000			Altice France, SA*
				5.500%, 10/15/29			1,034,054
	1,415,000			APi Group DE, Inc.*
				4.750%, 10/15/29			1,325,034
	1,270,000			Ashtead Capital, Inc.*
				2.450%, 08/12/31			1,034,936
				Audacy Capital Corp.*@
	1,479,000			6.750%, 03/31/29			59,707
	538,000			6.500%, 05/01/27			22,956
	1,070,000			Cincinnati Bell Telephone Company, LLC
				6.300%, 12/01/28			949,036
	1,190,000			Clear Channel Outdoor Holdings, Inc.*
				9.000%, 09/15/28			1,243,538
	1,665,000			Consolidated Communications, Inc.*
				6.500%, 10/01/28			1,450,731
				CSC Holdings, LLC*
	1,800,000			5.375%, 02/01/28			1,549,278
	1,800,000			4.625%, 12/01/30			931,500
	1,395,000			4.500%, 11/15/31			1,002,545
	1,250,000			5.750%, 01/15/30			663,788
	1,190,000			5.500%, 04/15/27			1,069,941
				Diamond Sports Group, LLC / Diamond Sports Finance Company*@
	825,000			6.625%, 08/15/27			56,455
	656,000			5.375%, 08/15/26			46,300
	1,466,000			Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
				5.875%, 08/15/27			1,393,975
	1,210,000			Frontier California, Inc.
				6.750%, 05/15/27			1,170,276
				Frontier Communications Holdings, LLC*
	749,000			5.000%, 05/01/28			692,061
	298,000			8.750%, 05/15/30			305,364
	1,333,000			Frontier Florida, LLC@
				6.860%, 02/01/28			1,284,492
	1,785,000			Frontier North, Inc.@
				6.730%, 02/15/28			1,712,350
				Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
	1,030,000			3.500%, 03/01/29			932,892
	301,000			5.250%, 12/01/27			295,726
				iHeartCommunications, Inc.
	750,000			8.375%, 05/01/27			469,193
	450,000			5.250%, 08/15/27*			349,889
	1,480,000			LCPR Senior Secured Financing DAC*
				6.750%, 10/15/27			1,435,156
	875,638			Ligado Networks, LLC*
				15.500%, 11/01/23
				PIK rate			150,785
				Lumen Technologies, Inc.
	900,000			7.600%, 09/15/39			239,517
	600,000			4.000%, 02/15/27*			317,652
	300,000			7.650%, 03/15/42			82,716
	596,000			Match Group Holdings II, LLC*
				3.625%, 10/01/31			510,516
	1,000,000			Nexstar Media, Inc.*
				5.625%, 07/15/27			973,540
				Paramount Global
	1,160,000			4.900%, 08/15/44			917,676
	286,000			6.375%, 03/30/62‡
				5 year CMT + 4.00%			255,578
	419,000			Qwest Corp.
				7.250%, 09/15/25			410,725
	235,000			Rogers Communications, Inc.*‡
				5.250%, 03/15/82
				5 year CMT + 3.59%			224,136
				Scripps Escrow II, Inc.*
	591,000			3.875%, 01/15/29			514,093
	295,000			5.375%, 01/15/31			226,808
	985,000			Scripps Escrow, Inc.*
				5.875%, 07/15/27			888,963
				Sirius XM Radio, Inc.*
	1,500,000			5.500%, 07/01/29			1,427,700
	1,185,000			4.000%, 07/15/28			1,076,667
	585,000			3.125%, 09/01/26			547,115
	298,000			3.875%, 09/01/31			248,842
	1,084,000			Spanish Broadcasting System, Inc.*
				9.750%, 03/01/26			576,460
	3,045,000			Sprint, LLC
				7.125%, 06/15/24			3,059,981
	1,350,000			Stagwell Global, LLC*
				5.625%, 08/15/29			1,239,340
	1,196,000			Telesat Canada / Telesat, LLC*
				4.875%, 06/01/27			709,192
	480,000			Time Warner Cable, LLC
				7.300%, 07/01/38			503,784

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,356,000			United States Cellular Corp.
				6.700%, 12/15/33		$	1,398,131
	906,000			Univision Communications, Inc.*
				8.000%, 08/15/28			922,082
	600,000			Viasat, Inc.*
				5.625%, 04/15/27			563,286
	125,000			Vodafone Group, PLC‡
				7.000%, 04/04/79
				U.S. 5 yr Swap + 4.87%			129,273
							41,000,226
				Consumer Discretionary (3.3%)
	1,435,000			Abercrombie & Fitch Management Company*
				8.750%, 07/15/25			1,461,246
	1,200,000			Adams Homes, Inc.*
				9.250%, 10/15/28			1,229,904
	1,505,000			Adient Global Holdings Company*^
				8.250%, 04/15/31			1,590,966
	943,000			American Axle & Manufacturing, Inc.
				6.875%, 07/01/28			922,659
				Ashton Woods USA, LLC / Ashton Woods Finance Company*
	1,043,000			4.625%, 08/01/29			950,382
	856,000			6.625%, 01/15/28			849,203
	1,487,000			At Home Group, Inc.*
				4.875%, 07/15/28			657,477
				Bath & Body Works, Inc.
	1,577,000			6.694%, 01/15/27			1,603,289
	875,000			6.875%, 11/01/35			875,499
	800,000			Benteler International AG*
				10.500%, 05/15/28			857,856
				Caesars Entertainment, Inc.*
	728,000			4.625%, 10/15/29			665,428
	605,000			8.125%, 07/01/27			621,402
				Carnival Corp.*
	601,000			4.000%, 08/01/28			557,451
	596,000			7.625%, 03/01/26			605,667
	75,000			7.000%, 08/15/29			78,100
				Carvana Company*
	242,000			14.000%, 06/01/31			216,031
	205,000			13.000%, 06/01/30			182,788
	136,000			12.000%, 12/01/28			120,779
				CCO Holdings, LLC / CCO Holdings Capital Corp.*
	2,610,000			5.125%, 05/01/27			2,519,198
	2,110,000			4.500%, 08/15/30			1,834,012
	1,370,000			6.375%, 09/01/29			1,334,558
	1,300,000			4.750%, 03/01/30			1,155,882
	1,198,000			4.250%, 02/01/31			1,011,244
	620,000			5.000%, 02/01/28			585,714
	596,000			4.750%, 02/01/32			511,791
	596,000			CDI Escrow Issuer, Inc.*
				5.750%, 04/01/30			577,303
	900,000			Cedar Fair, LP^
				5.250%, 07/15/29			861,453
	600,000			Churchill Downs, Inc.*
				6.750%, 05/01/31			608,610
				Dana, Inc.
	985,000			4.250%, 09/01/30			862,220
	896,000			4.500%, 02/15/32			771,635
				DISH DBS Corp.
	1,265,000			5.125%, 06/01/29			471,744
	895,000			5.250%, 12/01/26*			706,773
	739,000			7.375%, 07/01/28			327,067
	600,000			5.750%, 12/01/28*			404,742
	476,000			7.750%, 07/01/26			281,678
	1,200,000			DISH Network Corp.*
				11.750%, 11/15/27			1,253,316
	1,675,000			Empire Resorts, Inc.*
				7.750%, 11/01/26			1,553,378
	1,308,000			Everi Holdings, Inc.*
				5.000%, 07/15/29			1,203,556
	1,240,000			Ford Motor Company^
				6.100%, 08/19/32			1,240,806
				Ford Motor Credit Company, LLC
	1,885,000			4.000%, 11/13/30			1,682,268
	1,555,000			7.200%, 06/10/30			1,653,789
	1,450,000			5.113%, 05/03/29			1,409,356
	1,100,000			7.350%, 11/04/27			1,157,145
	1,000,000			2.900%, 02/16/28			900,460
	447,000			Gap, Inc.*
				3.875%, 10/01/31			369,405
	600,000			General Motors Company
				5.200%, 04/01/45			544,434
				General Motors Financial Company, Inc.‡
	310,000			5.700%, 02/01/36^
				5 year CMT + 5.00%			285,665
	155,000			6.500%, 02/01/36
				3 mo. LIBOR + 3.44%			145,162
				goeasy, Ltd.*
	2,100,000			9.250%, 12/01/28			2,238,159
	1,111,000			4.375%, 05/01/26			1,063,116
	635,000			Goodyear Tire & Rubber Company^
				5.250%, 07/15/31			578,548
	511,000			Group 1 Automotive, Inc.*
				4.000%, 08/15/28			471,883
	1,280,000			Guitar Center, Inc.*
				8.500%, 01/15/26			1,137,331
	915,000			International Game Technology, PLC*
				6.250%, 01/15/27			921,076
	328,990			JetBlue Pass Through Trust Series 2019-2, Class B
				8.000%, 11/15/27			331,687
	1,045,000			Kohl's Corp.
				5.550%, 07/17/45			713,129
	1,200,000			LCM Investments Holdings II, LLC*
				8.250%, 08/01/31			1,232,208
	1,175,000			Liberty Interactive, LLC
				8.250%, 02/01/30			627,755
	1,159,000			Life Time, Inc.*
				8.000%, 04/15/26			1,172,421
	600,000			Light & Wonder International, Inc.*
				7.500%, 09/01/31			625,254
	450,000			Lindblad Expeditions Holdings, Inc.*
				9.000%, 05/15/28			468,045
	767,000			Lindblad Expeditions, LLC*
				6.750%, 02/15/27			767,583
	780,000			M/I Homes, Inc.
				3.950%, 02/15/30			699,551
				Macy's Retail Holdings, LLC
	1,392,000			6.700%, 07/15/34*			1,171,438
	1,205,000			4.300%, 02/15/43			914,944
	1,025,000			Mclaren Finance, PLC*
				7.500%, 08/01/26			908,960

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,518,000			Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
				4.875%, 05/01/29		$	1,409,342
	725,000			Newell Brands, Inc.
				5.200%, 04/01/26			706,034
				Nordstrom, Inc.
	600,000			5.000%, 01/15/44			433,554
	551,000			4.250%, 08/01/31			460,052
	1,783,000			Patrick Industries, Inc.*
				4.750%, 05/01/29			1,644,479
	1,370,000			PENN Entertainment, Inc.*^
				4.125%, 07/01/29			1,178,433
				PetSmart, Inc. / PetSmart Finance Corp.*
	375,000			7.750%, 02/15/29			364,470
	375,000			4.750%, 02/15/28			350,535
	1,670,000			Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*
				5.625%, 09/01/29			1,258,779
	600,000			QVC, Inc.
				5.450%, 08/15/34			398,730
	600,000			Raising Cane's Restaurants, LLC*
				9.375%, 05/01/29			643,476
	2,333,000			Rite Aid Corp.*@
				8.000%, 11/15/26			1,772,357
	600,000			Royal Caribbean Cruises, Ltd.*
				7.250%, 01/15/30			625,668
	1,670,000			Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
				4.625%, 03/01/29			1,439,774
	1,800,000			Six Flags Entertainment Corp.*
				7.250%, 05/15/31			1,838,124
	1,348,000			Sonic Automotive, Inc.*^
				4.625%, 11/15/29			1,221,032
	837,000			Speedway Motorsports, LLC / Speedway Funding II, Inc.*
				4.875%, 11/01/27			794,581
	2,430,000			Station Casinos, LLC*
				4.500%, 02/15/28			2,293,021
	300,000			Stl Holding Company, LLC*
				8.750%, 02/15/29			300,000
	707,000			Taylor Morrison Communities, Inc.*
				5.750%, 01/15/28			704,646
	300,000			Viking Cruises, Ltd.*
				9.125%, 07/15/31			321,459
	1,355,000			Vista Outdoor, Inc.*
				4.500%, 03/15/29			1,332,412
				ZF North America Capital, Inc.*
	1,200,000			7.125%, 04/14/30			1,266,552
	400,000			6.875%, 04/14/28			412,296
							81,483,385
				Consumer Staples (0.7%)
	1,335,000			1375209 B.C., Ltd.*^
				9.000%, 01/30/28			1,296,806
	1,739,000			Arrow Bidco, LLC*
				10.750%, 06/15/25			1,801,621
	1,210,000			B&G Foods, Inc.*
				8.000%, 09/15/28			1,263,373
	1,358,000			Central Garden & Pet Company*
				4.125%, 04/30/31			1,202,631
	1,349,000			Edgewell Personal Care Company*
				4.125%, 04/01/29			1,235,010
				Energizer Holdings, Inc.*
	1,641,000			4.375%, 03/31/29			1,485,991
	298,000			6.500%, 12/31/27			297,046
				JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
	1,770,000			5.500%, 01/15/30			1,732,795
	740,000			5.125%, 02/01/28			734,250
	440,000			5.750%, 04/01/33			436,304
	125,000			Land O' Lakes, Inc.*
				7.000%, 02/01/68			95,046
	531,987			Mallinckrodt International Finance SA / Mallinckrodt CB, LLC*
				14.750%, 11/14/28			580,116
	751,000			New Albertsons, LP
				7.750%, 06/15/26			770,834
	1,192,000			Performance Food Group, Inc.*
				4.250%, 08/01/29			1,093,183
	900,000			Pilgrim's Pride Corp.
				4.250%, 04/15/31			811,989
	505,000			Post Holdings, Inc.*
				5.750%, 03/01/27			503,470
	1,124,000			Prestige Brands, Inc.*
				3.750%, 04/01/31			979,869
	1,015,000			United Natural Foods, Inc.*
				6.750%, 10/15/28			854,123
	1,857,000			Vector Group, Ltd.*
				5.750%, 02/01/29			1,715,107
							18,889,564
				Energy (2.0%)
	598,000			Antero Resources Corp.*
				5.375%, 03/01/30			571,156
	1,187,000			Apache Corp.
				5.100%, 09/01/40			1,020,820
	600,000			Buckeye Partners, LP
				5.850%, 11/15/43			495,600
	1,670,000			Callon Petroleum Company*
				7.500%, 06/15/30			1,760,447
	591,000			Cheniere Energy, Inc.
				4.625%, 10/15/28			572,691
	892,000			Chesapeake Energy Corp.*
				6.750%, 04/15/29			902,900
	1,688,000			Civitas Resources, Inc.*
				8.750%, 07/01/31			1,801,586
				Continental Resources, Inc.*
	900,000			2.875%, 04/01/32			735,156
	610,000			5.750%, 01/15/31			607,353
	921,000			DT Midstream, Inc.*
				4.125%, 06/15/29			846,942
				Earthstone Energy Holdings, LLC*
	1,176,000			8.000%, 04/15/27			1,218,759
	450,000			9.875%, 07/15/31			500,063
				Enbridge, Inc.‡
	1,036,000			7.375%, 01/15/83
				5 year CMT + 3.71%			1,037,823
	395,000			5.750%, 07/15/80
				5 year CMT + 5.31%			370,253
				Energy Transfer, LP
	1,735,000			8.586%, 11/01/66‡
				3 mo. SOFR + 3.28%			1,549,893
	1,015,000			6.500%, 02/01/36‡
				5 year CMT + 5.69%			981,688

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	155,000			8.000%, 05/15/54		$	160,499
	75,000			9.669%, 02/01/24
				3 mo. USD LIBOR + 4.03			73,722
				EnLink Midstream Partners, LP
	1,775,000			9.756%, 02/01/36‡
				3 mo. LIBOR + 4.11%			1,677,872
	1,285,000			4.850%, 07/15/26			1,262,705
	745,000			Enlink Midstream, LLC*
				6.500%, 09/01/30			763,364
				Enterprise Products Operating, LLC‡
	80,000			5.250%, 08/16/77
				3 mo. SOFR + 3.29%			77,340
	75,000			8.638%, 08/16/77
				3 mo. LIBOR + 2.99%			74,750
	1,970,000			EQM Midstream Partners, LP*
				7.500%, 06/01/27			2,027,406
				Genesis Energy, LP / Genesis Energy Finance Corp.
	885,000			8.875%, 04/15/30			926,498
	543,000			6.250%, 05/15/26			540,888
				Gulfport Energy Corp.
	1,190,000			8.000%, 05/17/26*			1,201,662
	306,527			8.000%, 05/17/26			309,531
	1,670,000			Hilcorp Energy I, LP / Hilcorp Finance Company*
				6.000%, 04/15/30			1,622,689
	894,000			Howard Midstream Energy Partners, LLC*
				6.750%, 01/15/27			896,754
	525,000			Kodiak Gas Services, LLC*
				7.250%, 02/15/29			531,184
	1,162,000			Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
				6.000%, 08/01/26			1,149,253
				Moss Creek Resources Holdings, Inc.*
	600,000			10.500%, 05/15/27			617,970
	540,000			7.500%, 01/15/26			538,288
				Nabors Industries, Inc.*
	900,000			7.375%, 05/15/27			890,451
	450,000			9.125%, 01/31/30			459,176
	900,000			Nabors Industries, Ltd.*
				7.500%, 01/15/28			824,616
	1,191,000			New Fortress Energy, Inc.*
				6.750%, 09/15/25			1,177,101
	900,000			Oceaneering International, Inc.
				6.000%, 02/01/28			882,351
	1,270,000			Parkland Corp.*~µ
				5.875%, 07/15/27			1,260,780
	633,000			Patterson-UTI Energy, Inc.
				5.150%, 11/15/29			611,655
	300,000			Permian Resources Operating LLC*
				7.000%, 01/15/32			309,984
	1,390,000			Plains All American Pipeline, LP‡
				9.751%, 02/01/36
				3 mo. LIBOR + 4.11%			1,377,226
	1,670,000			Rockcliff Energy II, LLC*
				5.500%, 10/15/29			1,556,139
	593,000			Southwestern Energy Company
				4.750%, 02/01/32			549,693
	1,716,650			Transocean, Inc.*
				8.750%, 02/15/30			1,796,148
				Venture Global Calcasieu Pass, LLC*
	750,000			6.250%, 01/15/30			752,077
	300,000			4.125%, 08/15/31			265,761
	300,000			3.875%, 08/15/29			268,164
				Venture Global LNG, Inc.*
	1,505,000			8.375%, 06/01/31			1,524,911
	900,000			8.125%, 06/01/28			911,466
	600,000			9.875%, 02/01/32			631,182
	600,000			9.500%, 02/01/29			637,926
				Vital Energy, Inc.
	764,000			9.750%, 10/15/30			812,346
	685,000			7.750%, 07/31/29*			676,732
	1,200,000			VOC Escrow, Ltd.*
				5.000%, 02/15/28			1,149,444
	1,505,000			Weatherford International, Ltd.*
				8.625%, 04/30/30			1,541,346
							50,292,180
				Financials (3.2%)
	1,900,000			Acrisure, LLC / Acrisure Finance, Inc.*
				8.250%, 02/01/29			1,906,916
	1,789,000			Aethon United BR, LP / Aethon United Finance Corp.*
				8.250%, 02/15/26			1,784,617
	858,000			AG Issuer, LLC*
				6.250%, 03/01/28			848,193
	255,000			Aircastle, Ltd.*‡
				5.250%, 02/01/68
				5 year CMT + 4.41%			224,441
				Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
	2,100,000			6.750%, 10/15/27			2,057,139
	140,000			7.000%, 01/15/31			141,765
	140,000			Allstate Corp.‡
				8.579%, 08/15/53
				3 mo. LIBOR + 2.94%			140,293
				Ally Financial, Inc.
	2,632,000			4.700%, 02/01/36
				7 year CMT + 3.48%‡			2,097,968
	489,000			8.000%, 11/01/31			541,553
	250,000			American International Group, Inc.‡
				5.750%, 04/01/48
				3 mo. LIBOR + 2.87%			248,610
	2,365,000			AmWINS Group, Inc.*
				4.875%, 06/30/29			2,210,542
	460,000			Ares Finance Company III, LLC*‡
				4.125%, 06/30/51
				5 year CMT + 3.24%			416,268
	888,000			Aviation Capital Group, LLC*
				3.500%, 11/01/27			827,918
	350,000			AXIS Specialty Finance, LLC‡
				4.900%, 01/15/40
				5 year CMT + 3.19%			302,722
				Bank of America Corp.‡
	439,000			6.125%, 02/01/36
				5 year CMT + 3.23%			439,057
	145,000			5.125%, 02/01/36
				3 mo. SOFR + 3.55%3 mo. LIBOR + 3.03%3 mo. LIBOR + 3.03%			144,401
	135,000			6.250%, 09/29/49
				3 mo. SOFR + 3.97%			134,931

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	135,000			6.100%, 12/29/49
				3 mo. SOFR + 4.16%		$	135,305
	763,000			Bank of New York Mellon Corp.‡
				4.700%, 02/01/36
				5 year CMT + 4.36%			753,310
				BP Capital Markets, PLC‡
	285,000			4.375%, 02/01/36
				5 year CMT + 4.04%			279,266
	280,000			4.875%, 02/01/36
				5 year CMT + 4.40%			265,642
	1,779,000			BroadStreet Partners, Inc.*
				5.875%, 04/15/29			1,689,054
	1,435,000			Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
				4.500%, 04/01/27			1,272,615
	1,200,000			Burford Capital Global Financial, LLC*
				6.875%, 04/15/30			1,170,576
	458,000			Capital One Financial Corp.‡^
				3.950%, 02/01/36
				5 year CMT + 3.16%			397,430
				Charles Schwab Corp.‡
	285,000			5.375%, 02/01/36^
				5 year CMT + 4.97%			281,620
	282,000			4.000%, 02/01/36
				5 year CMT + 3.17%			245,236
				Citigroup, Inc.‡
	509,000			3.875%, 02/01/36
				5 year CMT + 3.42%			470,698
	166,000			4.150%, 02/01/36
				5 year CMT + 3.00%			147,652
	150,000			7.625%, 02/01/36
				5 year CMT + 3.21%			153,710
	150,000			4.000%, 02/01/36
				5 year CMT + 3.60%			140,741
	140,000			5.950%, 12/29/49
				3 mo. USD LIBOR + 3.91%			138,135
				Citizens Financial Group, Inc.‡
	450,000			4.000%, 02/01/36
				5 year CMT + 3.22%			395,285
	155,000			5.650%, 02/01/36
				5 year CMT + 5.31%			151,666
	315,000			Comerica, Inc.
				5.625%, 02/01/36
				5 year CMT + 5.29%			305,821
	145,000			Corebridge Financial, Inc.‡
				6.875%, 12/15/52			145,574
				Credit Acceptance Corp.
	1,165,000			6.625%, 03/15/26^			1,166,538
	800,000			9.250%, 12/15/28*			842,992
	1,205,000			Cushman & Wakefield U.S. Borrower LLC*^
				8.875%, 09/01/31			1,265,636
	250,000			Depository Trust & Clearing Corp.*‡
				3.375%, 02/01/68
				5 year CMT + 2.61			212,443
				Discover Financial Services‡
	275,000			5.500%, 02/01/36
				3 mo. SOFR + 3.34%			227,662
	245,000			6.125%, 02/01/36
				5 year CMT + 5.78%			240,460
	1,533,000			Enact Holdings, Inc.*
				6.500%, 08/15/25			1,530,486
	265,000			Enstar Finance, LLC‡
				5.500%, 01/15/42
				5 year CMT + 4.01%			233,529
	605,000			Fifth Third Bancorp‡
				4.500%, 02/01/36
				5 year CMT + 4.22%			572,741
	70,000			First Citizens BancShares, Inc.‡
				9.618%, 02/01/24
				3 mo. SOFR + 4.23%			71,651
	1,350,000			GGAM Finance, Ltd.*
				8.000%, 02/15/27			1,393,240
	1,472,000			Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
				3.750%, 12/15/27			1,258,810
				Goldman Sachs Group, Inc.‡
	310,000			4.400%, 02/01/36
				5 year CMT + 2.85%			295,542
	153,000			4.125%, 02/01/36
				5 year CMT + 2.95%			139,377
	149,000			7.500%, 02/01/36
				5 year CMT + 3.16%			156,568
	1,250,000			GTCR W-2 Merger Sub, LLC*
				7.500%, 01/15/31			1,303,412
	655,000			HAT Holdings I LLC / HAT Holdings II LLC*
				8.000%, 06/15/27			679,399
				HUB International, Ltd.*
	1,785,000			5.625%, 12/01/29			1,685,361
	600,000			7.375%, 01/31/32			614,124
				Huntington Bancshares, Inc.‡
	350,000			4.450%, 02/01/36
				7 year CMT + 4.05%			316,215
	210,000			5.625%, 02/01/36
				10 year CMT + 4.95%			194,874
	892,000			Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
				4.375%, 02/01/29			746,363
	1,913,000			ILFC E-Capital Trust II*‡
				7.436%, 12/21/65
				3 mo. LIBOR + 1.80%			1,516,282
	2,470,000			Iron Mountain, Inc.*
				5.250%, 03/15/28			2,397,184
	3,000,000			Jefferies Finance, LLC / JFIN Co-Issuer Corp.*
				5.000%, 08/15/28			2,708,700
				JPMorgan Chase & Company‡
	1,100,000			3.650%, 02/01/36
				5 year CMT + 2.85%			1,016,136
	135,000			6.125%, 12/31/49
				3 mo. SOFR + 3.59%			135,293
	180,000			KeyCorp‡
				5.000%, 12/29/49
				3 mo. SOFR + 3.87%			160,652
				Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
	2,306,000			5.250%, 10/01/25			2,269,219
	1,296,000			4.750%, 06/15/29			1,160,775
	1,080,000			LD Holdings Group, LLC*
				6.125%, 04/01/28			881,258
				Level 3 Financing, Inc.*
	1,250,000			4.250%, 07/01/28			420,313
	600,000			4.625%, 09/15/27			316,764
	420,000			Liberty Mutual Group, Inc.*‡
				4.125%, 12/15/51
				5 year CMT + 3.32%			367,937

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	892,000			LPL Holdings, Inc.*
				4.000%, 03/15/29		$	822,629
				M&T Bank Corp.‡
	145,000			6.450%, 12/29/49
				3 mo. LIBOR + 3.61%			144,543
	85,000			5.125%, 12/29/49
				3 mo. LIBOR + 3.52%			77,621
	80,000			5.000%, 02/01/36
				5 year CMT + 3.17%			76,378
	1,200,000			Macquarie Airfinance Holdings, Ltd.*
				8.125%, 03/30/29			1,246,152
	280,000			Markel Corp.‡
				6.000%, 02/01/36
				5 year CMT + 5.66%			277,754
				MetLife, Inc.
	2,137,000			6.400%, 12/15/66			2,183,330
	225,000			3.850%, 02/01/36‡
				5 year CMT + 3.58%			215,881
	1,615,000			Nationstar Mortgage Holdings, Inc.*
				5.500%, 08/15/28			1,538,594
				Navient Corp.
	1,305,000			5.000%, 03/15/27			1,245,505
	655,000			4.875%, 03/15/28			595,762
	780,000			Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
				4.500%, 09/30/28			663,764
	600,000			Newmark Group, Inc.*
				7.500%, 01/12/29			613,224
	230,000			Northern Trust Corp.‡
				4.600%, 02/01/24
				3 mo. LIBOR + 3.20%			220,662
				OneMain Finance Corp.
	900,000			9.000%, 01/15/29			948,744
	820,000			3.875%, 09/15/28			720,632
	599,000			7.125%, 03/15/26			607,506
	592,000			Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
				5.875%, 10/01/28			579,615
	442,000			PartnerRe Finance B, LLC‡
				4.500%, 10/01/50
				5 year CMT + 3.82%			395,908
	1,871,000			PHH Mortgage Corp.*
				7.875%, 03/15/26			1,728,523
				PNC Financial Services Group, Inc.‡
	315,000			3.400%, 02/01/36
				5 year CMT + 2.60%			272,100
	140,000			6.200%, 02/01/36
				5 year CMT + 3.24%			137,445
	140,000			6.000%, 02/01/36
				5 year CMT + 3.00%			134,183
	275,000			Progressive Corp.‡
				8.185%, 02/01/36
				3 mo. USD LIBOR + 2.54%			275,121
	280,000			QBE Insurance Group, Ltd.*‡
				5.875%, 02/01/68
				5 year CMT + 5.51%			275,934
	1,355,000			RHP Hotel Properties, LP / RHP Finance Corp.*
				4.500%, 02/15/29			1,260,597
				Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
	560,000			3.875%, 03/01/31			492,145
	555,000			3.625%, 03/01/29			495,354
	275,000			2.875%, 10/15/26			255,219
	1,225,000			StoneX Group, Inc.*
				8.625%, 06/15/25			1,239,002
				Truist Financial Corp.‡
	295,000			4.800%, 02/01/36
				5 year CMT + 3.00%			282,182
	285,000			4.950%, 02/01/36
				5 year CMT + 4.61%			277,747
	108,000			5.100%, 02/01/36
				10 year CMT + 4.35%			100,106
	320,000			U.S. Bancorp‡
				5.300%, 02/01/36
				3 mo. SOFR + 3.18%			301,229
				United Wholesale Mortgage, LLC*
	1,383,000			5.500%, 04/15/29			1,307,875
	600,000			5.750%, 06/15/27			589,734
				Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
	600,000			10.500%, 02/15/28			610,590
	600,000			6.500%, 02/15/29			423,420
	1,340,000			VZ Secured Financing, BV*
				5.000%, 01/15/32			1,171,776
				Wells Fargo & Company‡
	620,000			3.900%, 02/01/36
				5 year CMT + 3.45%			581,541
	560,000			7.625%, 02/01/36
				5 year CMT + 3.61			589,445
	1,255,000			XHR, LP*
				6.375%, 08/15/25			1,257,071
							78,737,149
				Health Care (1.0%)
				Bausch Health Companies, Inc.*
	2,370,000			11.000%, 09/30/28			1,628,972
	469,000			14.000%, 10/15/30			265,407
	447,000			6.125%, 02/01/27			283,706
				CHS/Community Health Systems, Inc.*
	2,392,000			6.125%, 04/01/30			1,584,557
	663,000			6.875%, 04/15/29			457,642
	655,000			8.000%, 03/15/26			645,385
	600,000			10.875%, 01/15/32			630,378
	149,000			5.250%, 05/15/30			123,855
				DaVita, Inc.*
	1,395,000			3.750%, 02/15/31			1,150,763
	1,326,000			4.625%, 06/01/30			1,174,213
				Embecta Corp.*
	894,000			5.000%, 02/15/30			732,490
	298,000			6.750%, 02/15/30			262,943
				Encompass Health Corp.
	600,000			4.750%, 02/01/30			564,006
	600,000			4.500%, 02/01/28			573,990
	1,369,000			HCA, Inc.
				7.500%, 11/06/33			1,545,724
	350,000			Jazz Securities DAC*
				4.375%, 01/15/29			323,806
				Medline Borrower, LP*
	1,484,000			5.250%, 10/01/29			1,384,869
	1,480,000			3.875%, 04/01/29			1,341,679
				Organon & Company / Organon Foreign Debt Co-Issuer, BV*
	2,200,000			5.125%, 04/30/31			1,895,058
	500,000			4.125%, 04/30/28			457,475
	1,251,000			Team Health Holdings, Inc.*
				6.375%, 02/01/25			1,057,595

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				Tenet Healthcare Corp.
	2,710,000			6.250%, 02/01/27		$	2,704,716
	1,575,000			6.875%, 11/15/31			1,623,542
				Teva Pharmaceutical Finance Netherlands III, BV
	1,520,000			5.125%, 05/09/29^			1,467,150
	1,100,000			4.750%, 05/09/27			1,064,250
	535,000			3.150%, 10/01/26			499,465
							25,443,636
				Industrials (2.2%)
	1,355,000			ACCO Brands Corp.*
				4.250%, 03/15/29			1,229,757
	1,170,000			AerCap Holdings, NV‡^
				5.875%, 10/10/79
				5 year CMT + 4.54%			1,162,336
				Air Lease Corp.‡
	1,520,000			4.125%, 02/01/36
				5 year CMT + 3.15%			1,288,291
	320,000			4.650%, 02/01/36
				5 year CMT + 4.08%			295,965
				Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
	1,925,000			4.625%, 01/15/27			1,868,848
	900,000			5.875%, 02/15/28			899,541
	1,070,000			Allegiant Travel Company*
				7.250%, 08/15/27			1,046,995
	670,000			Arcosa, Inc.*
				4.375%, 04/15/29			628,795
	3,100,000			ARD Finance, SA*
				6.500%, 06/30/27
				7.250% PIK rate			1,504,368
	937,000			Beacon Roofing Supply, Inc.*
				4.125%, 05/15/29			849,615
				Bombardier, Inc.*
	600,000			8.750%, 11/15/30			631,368
	592,000			7.875%, 04/15/27			592,817
	1,191,000			BWX Technologies, Inc.*
				4.125%, 04/15/29			1,105,367
	1,220,000			Cascades, Inc. / Cascades USA, Inc.*
				5.375%, 01/15/28			1,197,284
	295,000			Delta Air Lines, Inc. / SkyMiles IP, Ltd.*
				4.750%, 10/20/28			290,371
	1,565,000			Deluxe Corp.*
				8.000%, 06/01/29			1,409,877
	1,194,000			Eco Material Technologies, Inc.*
				7.875%, 01/31/27			1,195,624
	600,000			Emerald Debt Merger Sub, LLC*
				6.625%, 12/15/30			606,540
				EnerSys*
	600,000			6.625%, 01/15/32			608,664
	575,000			4.375%, 12/15/27			544,836
	733,000			Graham Packaging Company, Inc.*
				7.125%, 08/15/28			658,615
				Graphic Packaging International, LLC*
	750,000			4.750%, 07/15/27			730,695
	551,000			3.500%, 03/01/29			498,352
	1,303,000			Great Lakes Dredge & Dock Corp.*^
				5.250%, 06/01/29			1,131,669
	2,775,000			H&E Equipment Services, Inc.*
				3.875%, 12/15/28			2,521,920
	1,492,000			Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
				5.750%, 01/20/26			1,403,226
	1,500,000			Herc Holdings, Inc.*
				5.500%, 07/15/27			1,474,365
	1,385,000			IEA Energy Services, LLC*
				6.625%, 08/15/29			1,303,534
				JELD-WEN, Inc.*
	721,000			4.625%, 12/15/25			705,152
	625,000			4.875%, 12/15/27^			596,913
	1,940,000			Ken Garff Automotive, LLC*
				4.875%, 09/15/28			1,812,911
	1,200,000			Knife River Holding Company*
				7.750%, 05/01/31			1,262,472
	298,000			MasTec, Inc.*^
				4.500%, 08/15/28			280,004
	722,000			Moog, Inc.*
				4.250%, 12/15/27			676,976
	1,472,000			Newfold Digital Holdings Group, Inc.*
				6.000%, 02/15/29			1,114,981
	1,140,000			Novelis Corp.*
				4.750%, 01/30/30			1,058,752
	450,000			OI European Group, BV*
				4.750%, 02/15/30			416,934
	1,375,000			Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*
				4.000%, 10/15/27			1,283,769
				Sealed Air Corp.*
	933,000			6.125%, 02/01/28			938,094
	298,000			5.000%, 04/15/29			287,448
	300,000			Sealed Air Corp./Sealed Air Corp. U.S.*
				7.250%, 02/15/31			314,724
	650,000			Sensata Technologies, BV*
				4.000%, 04/15/29			595,400
	593,000			Sensata Technologies, Inc.*
				3.750%, 02/15/31			516,574
				Sinclair Television Group, Inc.*
	891,000			4.125%, 12/01/30			689,313
	600,000			5.500%, 03/01/30			462,720
	1,165,000			Standard Industries, Inc.*
				5.000%, 02/15/27			1,133,230
	100,000			Stanley Black & Decker, Inc.‡
				4.000%, 03/15/60
				5 year CMT + 2.66%			87,403
	957,000			Stericycle, Inc.*
				3.875%, 01/15/29			871,272
	879,000			STL Holding Company, LLC*
				7.500%, 02/15/26			895,323
	300,000			Summit Materials LLC / Summit Materials Finance Corp.*
				7.250%, 01/15/31			312,030
				TransDigm, Inc.
	1,295,000			6.875%, 12/15/30*			1,331,843
	900,000			6.750%, 08/15/28*			915,903
	875,000			7.500%, 03/15/27			877,879
	649,000			6.250%, 03/15/26*			645,930
	450,000			7.125%, 12/01/31*			469,463
	1,188,000			Tronox, Inc.*
				4.625%, 03/15/29			1,050,287

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	439,547			United Airlines Pass Through Trust Series 2019-2, Class B
				3.500%, 11/01/29		$	401,979
	1,191,000			Vertiv Group Corp.*
				4.125%, 11/15/28			1,109,262
	1,251,000			Wabash National Corp.*
				4.500%, 10/15/28			1,140,849
	1,050,000			Waste Pro USA, Inc.*
				5.500%, 02/15/26			1,020,295
				Williams Scotsman, Inc.*
	703,000			4.625%, 08/15/28			663,780
	600,000			7.375%, 10/01/31			629,118
							55,248,618
				Information Technology (0.7%)
	296,000			Booz Allen Hamilton, Inc.*
				4.000%, 07/01/29			278,039
	692,000			Coherent Corp.*
				5.000%, 12/15/29			648,148
	601,000			CommScope Technologies, LLC*
				6.000%, 06/15/25			478,336
	1,100,000			CommScope, Inc.*
				4.750%, 09/01/29			728,409
	733,000			Dell International, LLC / EMC Corp.
				6.020%, 06/15/26			749,170
	596,000			Dun & Bradstreet Corp.*^
				5.000%, 12/15/29			554,697
	586,000			Fair Isaac Corp.*
				4.000%, 06/15/28			546,263
	1,315,000			KBR, Inc.*
				4.750%, 09/30/28			1,213,245
				MPH Acquisition Holdings, LLC*
	1,300,000			5.750%, 11/01/28			1,035,099
	595,000			5.500%, 09/01/28			529,098
	600,000			NCL Corp., Ltd.*
				8.125%, 01/15/29			629,880
	589,000			NCR Voyix Corp.*
				5.125%, 04/15/29			554,644
	886,000			ON Semiconductor Corp.*
				3.875%, 09/01/28			813,436
				Open Text Corp.*
	855,000			3.875%, 02/15/28			794,834
	600,000			6.900%, 12/01/27			623,706
	447,000			3.875%, 12/01/29			403,681
	447,000			Open Text Holdings, Inc.*
				4.125%, 12/01/31			395,783
	1,105,000			Playtika Holding Corp.*
				4.250%, 03/15/29			958,797
	1,645,000			TTM Technologies, Inc.*
				4.000%, 03/01/29			1,488,676
				Twilio, Inc.
	830,000			3.625%, 03/15/29			750,478
	298,000			3.875%, 03/15/31			262,806
	450,000			UKG, Inc.*
				6.875%, 02/01/31			455,553
	1,475,000			Viavi Solutions, Inc.*
				3.750%, 10/01/29			1,285,698
	1,355,000			ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
				3.875%, 02/01/29			1,207,305
							17,385,781
				Materials (0.7%)
	623,000			ArcelorMittal, SA
				7.000%, 10/15/39			680,173
	600,000			ATI, Inc.
				5.875%, 12/01/27			590,802
	295,000			Carpenter Technology Corp.
				7.625%, 03/15/30			305,284
	895,000			Chemours Company*
				4.625%, 11/15/29			783,510
	1,880,000			Clearwater Paper Corp.*
				4.750%, 08/15/28			1,765,301
	900,000			Cleveland-Cliffs, Inc.*
				6.750%, 04/15/30			908,298
				Commercial Metals Company
	596,000			4.125%, 01/15/30			545,471
	298,000			4.375%, 03/15/32			266,767
	1,375,000			Constellium, SE*^
				3.750%, 04/15/29			1,239,672
	590,000			HB Fuller Company
				4.250%, 10/15/28			550,387
	600,000			INEOS Finance, PLC*
				6.750%, 05/15/28			587,238
	900,000			JW Aluminum Continuous Cast Company*
				10.250%, 06/01/26			910,062
	1,050,000			Kaiser Aluminum Corp.*
				4.625%, 03/01/28			968,258
	297,000			LSF11 A5 HoldCo, LLC*
				6.625%, 10/15/29			253,216
				Mercer International, Inc.
	1,566,000			5.125%, 02/01/29			1,344,521
	600,000			12.875%, 10/01/28*			645,222
	1,175,000			OCI, NV*
				6.700%, 03/16/33			1,174,812
				Owens-Brockway Glass Container, Inc.*
	900,000			7.250%, 05/15/31			908,550
	590,000			6.625%, 05/13/27			590,732
	1,328,000			Silgan Holdings, Inc.
				4.125%, 02/01/28			1,251,135
	589,000			Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
				5.125%, 04/01/29			231,465
							16,500,876
				Other (0.1%)
				Gen Digital, Inc.*
	625,000			7.125%, 09/30/30^			648,581
	625,000			6.750%, 09/30/27			635,463
							1,284,044
				Real Estate (0.2%)
	953,000			EPR Properties
				3.750%, 08/15/29			849,809
				Forestar Group, Inc.*
	862,000			5.000%, 03/01/28			819,917
	630,000			3.850%, 05/15/26			599,174
	1,341,000			MIWD Holdco II, LLC / MIWD Finance Corp.*
				5.500%, 02/01/30			1,222,054
	550,000			Service Properties Trust
				5.250%, 02/15/26			532,983
							4,023,937
				Special Purpose Acquisition Companies (0.1%)
				Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
	1,195,000			6.750%, 01/15/30			1,075,727

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	596,000			4.625%, 01/15/29		$	549,351
							1,625,078
				Utilities (0.2%)
	340,000			Algonquin Power & Utilities Corp.‡
				4.750%, 01/18/82
				5 year CMT + 3.25%			295,640
	85,000			American Electric Power Company, Inc.‡
				3.875%, 02/15/62
				5 year CMT + 2.68			74,608
	235,000			CMS Energy Corp.‡
				4.750%, 06/01/50
				5 year CMT + 4.12%			212,313
				Dominion Energy, Inc.‡
	250,000			4.650%, 02/01/36
				5 year CMT + 2.99%			241,915
	133,000			4.350%, 02/01/36
				5 year CMT + 3.20%			121,078
				Duke Energy Corp.‡
	330,000			4.875%, 02/01/36
				5 year CMT + 3.39%			327,525
	132,000			3.250%, 01/15/82
				5 year CMT + 2.32%			108,021
	285,000			Emera, Inc.‡
				6.750%, 06/15/76
				3 mo. LIBOR + 5.44			281,207
				National Rural Utilities Cooperative Finance Corp.‡
	288,000			7.125%, 09/15/53			298,532
	150,000			5.250%, 04/20/46
				3 mo. LIBOR + 3.63%			145,203
	320,000			NextEra Energy Capital Holdings, Inc.‡
				3.800%, 03/15/82
				5 year CMT + 2.55%			281,296
	591,000			PPL Capital Funding, Inc.‡
				8.275%, 03/30/67
				3 mo. LIBOR + 2.67%			567,130
				Sempra‡
	220,000			4.875%, 02/01/36
				5 year CMT + 4.55%			216,011
	85,000			4.125%, 04/01/52
				5 year CMT + 2.87%			75,419
				Southern Company‡
	442,000			4.000%, 01/15/51
				5 year CMT + 3.73%			425,394
	95,000			3.750%, 09/15/51
				5 year CMT + 2.92%			88,839
				Vistra Corp.*‡
	625,000			7.000%, 02/01/68
				5 year CMT + 5.74%			610,125
	340,000			8.000%, 02/01/68
				5 year CMT + 6.93%			341,574
	80,000			WEC Energy Group, Inc.‡
				7.754%, 05/15/67
				3 mo. LIBOR + 2.11%			75,805
							4,787,635
				Total Corporate Bonds
				(Cost $416,348,507)			402,052,214
Convertible Bonds (21.0%)
				Communication Services (1.7%)
	1,203,000			Cable One, Inc.
				0.000%, 03/15/26			1,033,509
				Liberty Media Corp.*
	7,025,000			3.750%, 03/15/28			8,715,636
	5,970,000			2.375%, 09/30/53			6,267,008
	8,895,000			Liberty Media Corp.-Liberty Formula One
				2.250%, 08/15/27			9,270,547
	17,095,000			Live Nation Entertainment, Inc.
				2.000%, 02/15/25			17,954,537
							43,241,237
				Consumer Discretionary (2.7%)
	8,205,000			Airbnb, Inc.
				0.000%, 03/15/26			7,459,166
	9,550,000			Booking Holdings, Inc.
				0.750%, 05/01/25			17,830,518
				DISH Network Corp.
	1,803,000			0.000%, 12/15/25			1,290,497
	1,183,000			2.375%, 03/15/24			1,159,872
	14,650,000			Ford Motor Company
				0.000%, 03/15/26			14,279,794
	5,415,000			Rivian Automotive, Inc.*
				4.625%, 03/15/29			5,767,950
	3,765,000			Royal Caribbean Cruises, Ltd.
				6.000%, 08/15/25			9,860,761
	400,000			Tesla, Inc.
				2.000%, 05/15/24			3,631,100
	2,370,000			Wayfair, Inc.
				3.250%, 09/15/27			2,616,978
	3,850,000			Winnebago Industries, Inc.*
				3.250%, 01/15/30			3,961,727
							67,858,363
				Energy (0.3%)
	6,615,000			Northern Oil & Gas, Inc.
				3.625%, 04/15/29			7,369,838
				Financials (0.8%)
	3,000,000			Ares Capital Corp.
				4.625%, 03/01/24			3,140,730
	4,115,000			Federal Realty OP, LP*
				3.250%, 01/15/29			4,064,797
	11,275,000			Morgan Stanley Finance, LLC
				1.000%, 11/23/27			13,121,845
							20,327,372
				Health Care (1.6%)
	13,555,000			Dexcom, Inc.
				0.250%, 11/15/25			14,033,898
	2,718,000			Envista Holdings Corp.*
				1.750%, 08/15/28			2,482,377
	4,085,000			Exact Sciences Corp.*
				2.000%, 03/01/30			4,537,332
	7,895,000			Integer Holdings Corp.*
				2.125%, 02/15/28			10,286,632
	7,755,000			Jazz Investments I, Ltd.
				2.000%, 06/15/26			7,820,297
							39,160,536

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				Industrials (3.2%)
	4,215,000			Axon Enterprise, Inc.
				0.500%, 12/15/27		$	5,181,457
	7,500,000			Fluor Corp.*^
				1.125%, 08/15/29			7,946,475
	13,520,000			John Bean Technologies Corp.
				0.250%, 05/15/26			12,245,605
	13,805,000			Middleby Corp.
				1.000%, 09/01/25			16,312,402
	8,835,000			Tetra Tech, Inc.*
				2.250%, 08/15/28			8,984,842
				Uber Technologies, Inc.
	14,800,000			0.000%, 12/15/25			15,298,760
	12,000,000			0.875%, 12/01/28*			13,405,080
							79,374,621
				Information Technology (6.7%)
	5,910,000			Advanced Energy Industries, Inc.*
				2.500%, 09/15/28			6,125,360
				Akamai Technologies, Inc.
	14,080,000			1.125%, 02/15/29*			15,652,173
	4,230,000			0.375%, 09/01/27			4,846,353
				BILL Holdings, Inc.
	7,838,000			0.000%, 04/01/27			6,585,566
	3,535,000			0.000%, 12/01/25			3,314,098
	17,000,000			CyberArk Software, Ltd.
				0.000%, 11/15/24			25,580,920
				Enphase Energy, Inc.
	12,325,000			0.000%, 03/01/28			10,461,583
	3,525,000			0.000%, 03/01/26			3,166,296
	7,605,000			Nutanix, Inc.
				0.250%, 10/01/27			8,731,529
	17,315,000			ON Semiconductor Corp.*
				0.500%, 03/01/29			16,818,059
	2,520,000			Palo Alto Networks, Inc.
				0.375%, 06/01/25			8,572,990
	5,970,000			Rapid7, Inc.
				1.250%, 03/15/29			6,536,493
	13,100,000			Seagate HDD Cayman*
				3.500%, 06/01/28			15,775,937
	8,400,000			SK Hynix, Inc.
				1.750%, 04/11/30			11,075,652
	5,850,000			Tyler Technologies, Inc.
				0.250%, 03/15/26			5,937,458
	7,415,000			Western Digital Corp.*
				3.000%, 11/15/28			9,631,640
	5,670,000			Wolfspeed, Inc.
				1.875%, 12/01/29			3,269,946
	5,970,000			Workiva, Inc.*
				1.250%, 08/15/28			5,751,677
							167,833,730
				Materials (0.3%)
	5,800,000			Glencore Funding, LLC
				0.000%, 03/27/25			5,985,716
				Other (0.0%)
	590,000			Multiplan Corp.*
				6.000%, 10/15/27			413,248
				Real Estate (1.1%)
	15,115,000			Pebblebrook Hotel Trust
				1.750%, 12/15/26			13,560,271
	12,285,000			Welltower OP, LLC*
				2.750%, 05/15/28			13,338,807
							26,899,078
				Utilities (2.6%)
	11,920,000			Alliant Energy Corp.*
				3.875%, 03/15/26			11,735,955
	16,655,000			CMS Energy Corp.*
				3.375%, 05/01/28			16,339,388
	7,245,000			PG&E Corp.*
				4.250%, 12/01/27			7,385,481
	20,355,000			PPL Capital Funding, Inc.*
				2.875%, 03/15/28			19,420,909
	10,540,000			Southern Company*
				3.875%, 12/15/25			10,500,475
							65,382,208
				Total Convertible Bonds
				(Cost $516,699,204)			523,845,947
Bank Loans (5.4%) ¡
				Airlines (0.1%)
	841,500			American Airlines, Inc.‡
				10.329%, 04/20/28
				3 mo. SOFR + 4.75%			863,530
	854,000			Mileage Plus Holdings, LLC‡
				10.770%, 06/21/27
				3 mo. SOFR + 5.25%			881,311
							1,744,841
				Communication Services (0.6%)
	2,000,000			APi Group DE, Inc.‡
				7.951%, 01/03/29
				1 mo. SOFR + 2.25%			2,002,810
	3,282,857			Charter Communications Operating LLC‡
				7.083%, 02/01/27
				1 mo. SOFR + 1.75%			3,276,292
	153,499			Clear Channel Outdoor Holdings, Inc.‡
				9.074%, 08/21/26
				3 mo. SOFR + 3.50%			151,978
	1,050,000			DirecTV Financing, LLC!
				0.000%, 08/02/29			1,050,877
	1,755,000			Entercom Media Corp.‡&
				8.145%, 11/18/24
				3 mo. SOFR + 2.50%			985,406
	1,990,000			Go Daddy Operating Company, LLC‡
				7.333%, 11/09/29
				1 mo. SOFR + 2.00%			1,992,388
	2,000,000			Match Group, Inc.‡
				7.270%, 02/13/27
				3 mo. SOFR + 1.75%			1,996,260
	2,000,000			Nexstar Broadcasting, Inc.‡
				7.951%, 09/18/26
				1 mo. SOFR + 2.50%			2,000,490
	600,000			Telesat Canada‡
				8.400%, 12/07/26
				3 mo. SOFR + 2.75%			368,325
	2,000,000			Virgin Media Bristol, LLC‡
				7.948%, 01/31/28
				1 mo. SOFR + 2.50%			1,967,350
							15,792,176

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				Consumer Discretionary (1.1%)
	768,000			American Axle & Manufacturing, Inc.‡
				8.936%, 12/13/29
				1 mo. SOFR + 3.50%		$	769,444
	1,990,000			Aramark Services, Inc.‡
				7.947%, 06/22/30
				1 mo. SOFR + 2.50%			1,988,766
	1,191,000			Caesars Entertainment, Inc.‡
				8.663%, 02/06/30
				3 mo. SOFR + 3.25%			1,191,953
	3,193,950			Carnival Corp.‡
				8.336%, 08/08/27
				1 mo. SOFR + 3.00%			3,199,539
	1,396,438			Carnival Corp.‡
				8.697%, 10/18/28
				1 mo. SOFR + 3.25%			1,398,400
	1,191,000			Hanesbrands, Inc.‡
				9.083%, 03/08/30
				1 mo. SOFR + 3.75%			1,186,534
	2,000,000			Hilton Domestic Operating Company, Inc.‡
				7.436%, 11/08/30
				1 mo. SOFR + 2.00%			2,002,630
	2,188,747			KFC Holding Company‡
				7.196%, 03/15/28
				1 mo. SOFR + 1.75%			2,190,717
	722,390			Life Time Fitness, Inc.‡
				9.824%, 01/15/26
				3 mo. SOFR + 4.25%			727,446
	1,989,770			Murphy USA, Inc.‡
				7.217%, 01/31/28
				1 mo. SOFR + 1.75%			1,995,988
	1,989,899			PENN Entertainment, Inc.‡
				8.183%, 05/03/29
				1 mo. SOFR + 2.75%			1,987,750
	730,603			Petco Health & Wellness Company, Inc.‡
				8.860%, 03/03/28
				3 mo. SOFR + 3.25%			687,764
	2,941,152			PetSmart, Inc.‡
				9.183%, 02/11/28
				1 mo. SOFR + 3.75%			2,931,667
	1,989,539			Station Casinos, LLC‡
				7.683%, 02/08/27
				1 mo. SOFR + 2.25%			1,987,440
	744,389			TKC Holdings, Inc.‡
				10.947%, 05/15/28
				1 mo. SOFR + 5.50%			721,871
	1,199,250			Windsor Holdings III, LLC‡
				9.848%, 08/01/30
				1 mo. SOFR + 4.50%			1,202,416
							26,170,325
				Consumer Staples (0.3%)
	2,559,262			Amneal Pharmaceuticals, LLC‡
				10.833%, 05/04/28
				1 mo. SOFR + 5.50%			2,546,465
	4,140,331			Jazz Financing Lux Sarl‡
				8.447%, 05/05/28
				1 mo. SOFR + 3.00%			4,142,919
	1,225,000			Star Parent, Inc.‡
				9.348%, 09/27/30
				3 mo. SOFR + 4.00%			1,198,203
	543,918			United Natural Foods, Inc.‡
				8.697%, 10/22/25
				1 mo. SOFR + 3.25%			543,551
							8,431,138
				Energy (0.1%)
	955,000			Buckeye Partners, LP‡
				7.833%, 11/22/30
				1 mo. SOFR + 2.25%			955,798
	575,000			New Fortress Energy, Inc.‡
				10.317%, 10/27/28
				3 mo. SOFR + 5.00%			576,150
	1,490,246			Par Petroleum, LLC‡
				9.738%, 02/28/30
				3 mo. SOFR + 4.25%			1,491,550
							3,023,498
				Financials (0.5%)
	300,000			Advisor Group, Inc.‡
				9.833%, 08/17/28
				1 mo. SOFR + 4.50%			300,095
	998,774			Alliant Holdings Intermediate LLC‡
				8.833%, 11/06/30
				1 mo. SOFR + 3.50%			1,001,990
	910,431			Amynta Agency Borrower, Inc.‡
				9.583%, 02/28/28
				1 mo. SOFR + 4.25%			911,892
	1,170,113			AssuredPartners, Inc.‡
				8.833%, 02/12/27
				1 mo. SOFR + 3.50%			1,167,673
	3,092,250			Avolon TLB Borrower 1, LLC‡
				7.337%, 06/22/28
				1 mo. SOFR + 2.00%			3,095,079
	600,000			Broadstreet Partners, Inc.‡
				9.083%, 01/27/29
				1 mo. SOFR + 3.75%			600,375
	1,527			Castlelake Aviation, Ltd.‡
				8.146%, 10/22/26
				3 mo. SOFR + 2.50%			1,527
	616,410			Delos Aircraft Designated Activity Co.‡
				7.348%, 10/31/27
				3 mo. SOFR + 2.00%			618,722
	1,200,000			HUB International, Ltd.!
				0.000%, 06/20/30			1,202,064
	2,930,000			Iron Mountain, Inc.‡
				7.569%, 01/31/31
				3 mo. SOFR + 2.25%			2,918,104
	1,583,083			VFH Parent, LLC‡
				8.433%, 01/13/29
				1 mo. SOFR + 3.00%			1,582,292
							13,399,813
				Health Care (0.7%)
	1,447,851			Avantor Funding, Inc.‡
				7.683%, 11/08/27
				1 mo. SOFR + 2.25%			1,448,575
	2,188,472			DaVita, Inc.‡
				7.197%, 08/12/26
				1 mo. SOFR + 1.75%			2,186,108
	1,988,923			Elanco Animal Health, Inc.‡
				7.203%, 08/01/27
				1 mo. SOFR + 1.75%			1,953,152

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,971,215			Icon Luxembourg Sarl‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%		$	1,975,522
	2,000,000			IQVIA, Inc.‡
				7.348%, 01/02/31
				3 mo. SOFR + 2.00%			2,006,380
	2,000,000			Organon & Company‡
				8.450%, 06/02/28
				1 mo. SOFR + 3.00%			2,000,320
	1,261,176			Padagis, LLC‡
				10.341%, 07/06/28
				3 mo. SOFR + 4.75%			1,223,347
	1,994,950			Perrigo Investments, LLC‡
				7.683%, 04/20/29
				1 mo. SOFR + 2.25%			1,994,122
	491,129			PRA Health Sciences, Inc.‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%			492,203
	2,870,557			Team Health Holdings, Inc.‡
				10.563%, 03/02/27
				3 mo. SOFR + 5.25%			2,400,504
	8,209			Team Health Holdings, Inc.‡
				10.583%, 03/02/27
				1 mo. SOFR + 5.25%			6,864
							17,687,097
				Industrials (1.0%)
	615,700			ACProducts, Inc.!
				0.000%, 05/17/28			534,191
	585,000			ACProducts, Inc.‡
				9.860%, 05/17/28
				3 mo. SOFR + 4.25%			507,555
	733,825			Air Canada‡
				9.139%, 08/11/28
				3 mo. SOFR + 3.50%			735,487
	1,989,796			Beacon Roofing Supply, Inc.‡
				7.947%, 05/19/28
				1 mo. SOFR + 2.25%			1,995,437
	2,125,715			Berry Global, Inc.‡
				7.202%, 07/01/29
				1 mo. SOFR + 1.75%			2,123,302
	3,131,015			ChampionX Corp.‡
				8.187%, 06/07/29
				1 mo. SOFR + 2.75%			3,144,713
	2,751,353			Emrld Borrower, LP‡
				8.313%, 05/31/30
				1 mo. SOFR + 3.00%			2,755,314
	1,989,975			H.B. Fuller Company‡
				7.857%, 02/15/30
				1 mo. SOFR + 2.25%			1,993,079
	1,989,796			Jeld-Wen, Inc.‡
				7.447%, 07/28/28
				1 mo. SOFR + 2.00%			1,989,547
	3,368,899			Light and Wonder International, Inc.‡
				8.083%, 04/14/29
				1 mo. SOFR + 3.00%			3,368,899
	1,989,975			TransDigm, Inc.‡
				8.598%, 08/24/28
				3 mo. SOFR + 3.25%			1,994,214
	1,200,000			TransDigm, Inc.‡
				8.598%, 02/14/31
				3 mo. SOFR + 3.25%			1,202,886
	2,951,839			United Airlines, Inc.‡
				9.201%, 04/21/28
				1 mo. SOFR + 3.75%			2,961,300
							25,305,924
				Information Technology (0.5%)
	1,626,696			Banff Merger Sub, Inc.‡
				9.583%, 12/29/28
				1 mo. SOFR + 4.25%			1,630,763
	927,390			Camelot Finance SA‡
				8.337%, 10/30/26
				1 mo. SOFR + 3.00%			927,853
	1,132,750			Central Parent, Inc.‡
				9.348%, 07/06/29
				3 mo. SOFR + 4.00%			1,136,290
	2,974,370			II-VI, Inc.‡
				8.087%, 07/02/29
				1 mo. SOFR + 2.75%			2,966,191
	1,849,779			Open Text Corp.‡
				8.183%, 01/31/30
				1 mo. SOFR + 2.75%			1,852,563
	1,179,826			SS&C Technologies, Inc.‡
				7.683%, 03/22/29
				1 mo. SOFR + 2.25%			1,181,195
	607,061			SS&C Technologies, Inc.‡
				7.683%, 03/22/29
				1 mo. SOFR + 2.25%			607,765
	1,278,575			TTM Technologies, Inc.‡
				8.103%, 05/30/30
				1 mo. SOFR + 2.75%			1,280,173
							11,582,793
				Materials (0.4%)
	2,011,630			Axalta Coating Systems U.S. Holdings, Inc.‡
				7.848%, 12/20/29
				3 mo. SOFR + 2.50%			2,015,402
	2,613,450			Chemours Company‡
				8.833%, 08/18/28
				1 mo. SOFR + 3.50%			2,610,837
	1,194,000			Ineos US Finance, LLC‡
				8.837%, 02/18/30
				1 mo. SOFR + 3.50%			1,182,430
	940,522			Innophos, Inc.‡
				8.697%, 02/05/27
				1 mo. SOFR + 3.25%			929,748
	1,507,425			LSF11 A5 Holdco, LLC‡
				9.683%, 10/15/28
				1 mo. SOFR + 4.25%			1,509,317
	914,601			Trinseo Materials Operating SCA‡
				8.150%, 05/03/28
				3 mo. SOFR + 2.50%			702,263
	1,169,660			W.R. Grace & Co.-Conn.‡
				9.360%, 09/22/28
				3 mo. SOFR + 3.75%			1,172,484
							10,122,481
				Special Purpose Acquisition Companies (0.1%)
	586,075			Clydesdale Acquisition Holdings, Inc.‡
				9.108%, 04/13/29
				1 mo. SOFR + 3.67%			583,051
	294,750			Fertitta Entertainment, LLC‡
				9.333%, 01/27/29
				1 mo. SOFR + 4.00%			294,296

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
	1,185,000			Patagonia Holdco, LLC‡
				11.116%, 08/01/29
				3 mo. SOFR + 5.75%		$	1,089,607
							1,966,954
				Total Bank Loans
				(Cost $136,390,736)			135,227,040
U.S. Government and Agency Security (1.5%)
				Other (1.5%)
	36,945,000			U.S. Treasury Note^
				2.250%, 03/31/24
				(Cost $36,932,396)			36,761,718

 

NUMBER OF
SHARES						VALUE
Convertible Preferred Stocks (1.5%)
				Energy (0.0%)
	6,300			Equitrans Midstream Corp.
				9.750%, 02/15/24			138,600
	28			Gulfport Energy Corp.#
				10.000%, 03/04/24
				15.000% PIK rate			259,000
							397,600
				Financials (0.9%)
	80,250			AMG Capital Trust II
				5.150%, 10/15/37			3,899,669
	300,410			Apollo Global Management, Inc.
				6.750%, 07/31/26			17,549,952
							21,449,621
				Industrials (0.1%)
	46,187			Chart Industries, Inc.
				6.750%, 12/15/25			2,301,036
				Real Estate (0.0%)
	3,000			Realty Income Corp.
				6.000%, 03/01/24			74,700
				Utilities (0.5%)
	84,885			CenterPoint Energy, Inc. (Warner Media, LLC, Charter Communications Time, Inc.)#§**
				3.369%, 09/15/29			3,218,585
	262,050			NextEra Energy, Inc.^
				6.926%, 09/01/25			9,750,880
							12,969,465
				Total Convertible Preferred Stocks
				(Cost $40,137,889)			37,192,422
Common Stocks (96.2%)
				Communication Services (10.4%)
	661,840			Alphabet, Inc. - Class A#			92,723,784
	199,700			Alphabet, Inc. - Class C^#			28,317,460
	25,095			Altice USA, Inc. - Class A#			61,232
	264,885			AT&T, Inc.			4,685,816
	411,425			Comcast Corp. - Class Aµ			19,147,719
	8,434			Cumulus Media, Inc. - Class Aµ#			38,796
	2			Frontier Communications Parent, Inc.^#			49
	146,450			Meta Platforms, Inc. - Class A^#			57,136,003
	32,360			Netflix, Inc.#			18,254,600
	205,085	EUR		Orange, SA			2,438,855
	135,860			T-Mobile U.S., Inc.			21,904,708
	149,335			Walt Disney Company^			14,343,627
							259,052,649
				Consumer Discretionary (10.2%)
	688,315			Amazon.com, Inc.^#			106,826,488
	137,124			Aptiv, PLC#			11,152,295
	59,260			Carnival Corp.µ#			982,531
	243,463			General Motors Company			9,446,364
	52,240			Home Depot, Inc.			18,438,630
	294,980			Las Vegas Sands Corp.			14,430,422
	54,670			Lowe's Companies, Inc.			11,635,963
	62,500			McDonald's Corp.			18,295,000
	162,800			NIKE, Inc. - Class B			16,529,084
	107,325			Starbucks Corp.			9,984,445
	144,100			Tesla, Inc.#			26,988,489
	104,675			TJX Cos., Inc.			9,934,704
							254,644,415
				Consumer Staples (6.2%)
	58,750			Altria Group, Inc.µ			2,357,050
	329,140			Coca-Cola Company^			19,580,539
	31,575			Costco Wholesale Corp.			21,940,836
	47,280			Estee Lauder Companies, Inc. - Class A			6,240,487
	7,965			Mallinckrodt, PLC#			304,661
	113,665			Mondelez International, Inc. - Class A^			8,555,565
	149,110			Monster Beverage Corp.#			8,204,032
	90,260			PepsiCo, Inc.			15,211,518
	179,035			Philip Morris International, Inc.^			16,265,330
	203,745			Procter & Gamble Company^			32,016,489
	52,650			Walgreens Boots Alliance, Inc.			1,188,310
	130,790			Walmart, Inc.			21,613,047
							153,477,864
				Energy (4.5%)
	475,000			BP, PLC (ADR)			16,672,500
	1,730			Chesapeake Energy Corp.			133,400
	77,130			Chevron Corp.			11,371,276
	64,470			ConocoPhillips^			7,212,259
	82,935			Energy Transfer, LP			1,185,970
	49,155			Enterprise Products Partners, LP			1,315,388
	7,920			EP Energy Corp.#&			23,760
	94,234			EQT Corp.			3,335,884
	317,920			Exxon Mobil Corp.			32,685,355
	34			Gulfport Energy Corp.#			—
	56,105			Hess Corp.			7,884,436
	80,370			Marathon Petroleum Corp.			13,309,272
	10,578			ONEOK, Inc.^			721,948
	24,975			Pioneer Natural Resources Company			5,740,004
	219,710			Schlumberger, NV			10,699,877
							112,291,329
				Financials (13.2%)
	35,430			Affiliated Managers Group, Inc.			5,273,401
	59,230			American Express Company^			11,889,830
	346,890			American International Group, Inc.			24,112,324
	29,983			Assurant, Inc.^			5,035,645

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES						VALUE
	663,370			Bank of America Corp.^~µ		$	22,561,214
	71,870			Bank of New York Mellon Corp.			3,985,910
	10,715			BlackRock, Inc.			8,296,732
	76,155			Chubb, Ltd.			18,657,975
	231,670			Citigroup, Inc.			13,012,904
	27,300			Goldman Sachs Group, Inc.^			10,483,473
	212,020			JPMorgan Chase & Company^			36,967,807
	120,287			KKR & Company, Inc.µ			10,414,448
	76,915			Marsh & McLennan Cos., Inc.			14,909,204
	72,315			Mastercard, Inc. - Class A^			32,486,067
	221,340			Morgan Stanley^			19,309,702
	97,225			PayPal Holdings, Inc.#			5,964,754
	26,315			S&P Global, Inc.			11,798,330
	157,631			Starwood Property Trust, Inc.^			3,204,638
	178,525			Visa, Inc. - Class A^			48,783,742
	411,130			Wells Fargo & Company^			20,630,503
							327,778,603
				Health Care (12.7%)
	82,820			Abbott Laboratories~µ			9,371,083
	118,475			AbbVie, Inc.			19,477,290
	124,060			Alcon, Inc.^			9,318,147
	267,298			Boston Scientific Corp.^#			16,909,272
	107,005			Bristol-Myers Squibb Company^			5,229,334
	85,885			Danaher Corp.			20,604,670
	71,605			Dexcom, Inc.#			8,689,267
	23,435			Elevance Health, Inc.			11,563,766
	74,890			Eli Lilly & Company^			48,349,733
	34,856			GE Healthcare, Inc.			2,557,036
	200,940			Johnson & Johnson			31,929,366
	20,020			McKesson Corp.			10,007,798
	142,050			Medtronic, PLC			12,435,057
	219,485			Merck & Company, Inc.			26,509,398
	314,685			Pfizer, Inc.			8,521,670
	20,295			Stryker Corp.			6,808,567
	30,260			Thermo Fisher Scientific, Inc.~µ			16,309,535
	72,460			UnitedHealth Group, Inc.^			37,080,680
	112,720			Zimmer Biomet Holdings, Inc.^			14,157,632
							315,829,301
				Industrials (5.9%)
	47,290			Boeing Company#			9,980,082
	777,890			CSX Corp.			27,770,673
	230,090			Delta Air Lines, Inc.			9,005,723
	104,568			General Electric Company^			13,846,894
	104,790			Honeywell International, Inc.			21,194,825
	79,505			JB Hunt Transport Services, Inc.			15,978,915
	28,435			Northrop Grumman Corp.			12,703,621
	50,835			Parker-Hannifin Corp.			23,612,857
	145,750			RTX Corp.			13,280,740
	8,988			Veralto Corp.			689,290
							148,063,620
				Information Technology (28.6%)
	56,335			Accenture, PLC - Class A			20,499,180
	21,770			Adobe, Inc.^#			13,449,070
	92,130			Advanced Micro Devices, Inc.^#			15,449,280
	1,010,925			Apple, Inc.^~µ			186,414,570
	59,580			Applied Materials, Inc.			9,788,994
	35,949			Broadcom, Inc.µ			42,419,820
	247,515			Cisco Systems, Inc.^			12,420,303
	58,910			Fidelity National Information Services, Inc.^			3,667,737
	10,330			Intuit, Inc.			6,521,639
	16,960			Lam Research Corp.			13,994,883
	143,195			Micron Technology, Inc.^			12,278,971
	574,150			Microsoft Corp.^			228,270,557
	1,520,000			Nokia Oyj (ADR)^			5,472,000
	161,290			NVIDIA Corp.^			99,236,898
	81,370			Oracle Corp.			9,089,029
	59,985			Salesforce, Inc.#			16,861,184
	21,845			ServiceNow, Inc.#			16,720,163
							712,554,278
				Materials (2.8%)
	255,945			Freeport-McMoRan, Inc.			10,158,457
	56,835			Linde, PLC			23,008,513
	126,910			PPG Industries, Inc.			17,899,386
	19,725			Sherwin-Williams Companyµ			6,003,896
	50,490			Vulcan Materials Company			11,411,245
							68,481,497
				Real Estate (0.7%)
	70,930			American Tower Corp.			13,877,455
	119,195			Invitation Homes, Inc.			3,925,091
							17,802,546
				Special Purpose Acquisition Company (0.0%)
	14,052			Intelsat Emergence, SA#&			382,917
				Utilities (1.0%)
	77,480			CMS Energy Corp.			4,428,757
	176,574			DTE Energy Company			18,614,431
	32,149			NextEra Energy, Inc.			1,884,896
							24,928,084
				Total Common Stocks
				(Cost $1,591,485,925)			2,395,287,103
Warrants (0.0%) #
				Energy (0.0%)
	57,470			Mcdermott International, Ltd.&
				06/30/27, Strike $15.98			6
	51,723			Mcdermott International, Ltd.&
				06/30/27, Strike $12.33			5
	16,676			Tidewater, Inc.&
				11/14/42, Strike $0.01			2
				Total Warrants
				(Cost $369,524)			13
Exchange-Traded Funds (0.3%)
				Other (0.3%)
	56,295			iShares Biotechnology ETF^			7,564,922
	11,975			iShares Preferred & Income Securities ETF			383,919
				Total Exchange-Traded Funds
				(Cost $8,140,902)			7,948,841
Preferred Stocks (0.3%)
				Communication Services (0.1%)
	8,482			AT&T, Inc.
				4.750%, 02/18/25			178,801
	3,485			AT&T, Inc.
				5.350%, 11/01/66			83,640

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES						VALUE
	14,625			Qwest Corp.
				6.500%, 09/01/56		$	136,012
	9,521			Telephone & Data Systems, Inc.
				6.000%, 09/30/26			157,001
	24,420			United States Cellular Corp.
				5.500%, 03/01/70			452,014
	23,445			United States Cellular Corp.
				5.500%, 06/01/70			430,216
							1,437,684
				Consumer Discretionary (0.1%)
	2,835			Ford Motor Company
				6.200%, 06/01/59			71,867
	2,764			Ford Motor Company
				6.500%, 08/15/62			68,685
	8,177			Guitar Center, Inc.#&			670,514
	1,355			Qurate Retail, Inc.^
				8.000%, 03/15/31			53,604
	4,100			QVC, Inc.
				6.250%, 11/26/68			49,323
							913,993
				Energy (0.1%)
	12,420			Energy Transfer, LP‡
				10.364%, 02/09/24
				3 mo. LIBOR + 4.74%			317,828
	43,730			NuStar Energy, LP‡
				11.282%, 03/01/24
				3 mo. LIBOR + 5.64%			1,123,861
	9,119			NuStar Energy, LP‡
				12.405%, 03/01/24
				3 mo. LIBOR + 6.77%			235,452
	55,760			NuStar Logistics, LP‡
				12.310%, 01/15/43
				3 mo. LIBOR + 6.73%			1,441,954
							3,119,095
				Financials (0.0%)
	5,970			Annaly Capital Management, Inc.‡
				10.585%, 06/01/25
				3 mo. LIBOR + 4.99%			152,354
	1,350			Capital One Financial Corp.
				4.800%, 06/01/25			26,177
	10,725			CNO Financial Group, Inc.
				5.125%, 11/25/60			185,006
	1,732			Cullen/Frost Bankers, Inc.
				4.450%, 12/15/25			32,042
	3,401			First Citizens BancShares, Inc.^
				5.625%, 01/04/27			77,883
	1,374			Goldman Sachs Group, Inc.‡
				6.375%, 05/10/24
				3 mo. SOFR + 3.81%			35,326
	11,100			Reinsurance Group of America, Inc.‡
				7.125%, 10/15/52
				5 year CMT + 3.46%			291,486
	6,214			Selective Insurance Group, Inc.
				4.600%, 12/15/25			112,411
							912,685
				Industrials (0.0%)
	5,043			WESCO International, Inc.‡
				10.625%, 06/22/25
				5 year CMT + 10.33%			135,203
				Real Estate (0.0%)
	8,773			Brookfield Property Partners, LP
				5.750%, 03/31/25			101,679
	5,000			Brookfield Property Partners, LP
				6.375%, 09/30/24			63,500
	3,625			Global Net Lease, Inc.
				6.875%, 11/26/24			75,074
	1,951			Global Net Lease, Inc.
				0.000%, 03/26/24			42,278
							282,531
				Utilities (0.0%)
	6,000			Brookfield Renewable Partners, LP
				5.250%, 03/31/25			105,000
	5,100			DTE Energy Company^
				5.250%, 12/01/77			120,666
							225,666
				Total Preferred Stocks
				(Cost $7,581,933)			7,026,857

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT						VALUE
Purchased Options (0.0%) #
				Other (0.0%)
				Invesco QQQ Trust Series 1
	1,550
	64,630,350			Put, 02/16/24, Strike $385.78			72,075
	375
	15,636,375			Put, 02/16/24, Strike $399.78			46,687
	2,700			iShares Russell 2000 ETF
	52,077,600			Call, 03/15/24, Strike $200.00			853,200
				Total Purchased Options
				(Cost $3,185,691)			971,962
TOTAL INVESTMENTS (142.4%)
(Cost $2,758,155,466)							3,547,192,874
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-13.0%)							(323,500,000	)
LIABILITIES, LESS OTHER ASSETS (-29.4%)							(733,043,613	)
NET ASSETS (100.0%)						$	2,490,649,261

 

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 Funds. 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.
@	In default status and considered non-income producing.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Strategic Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

^	Security, or portion of security, is on loan.
~	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 $4,505,709.
µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $80,022,648.
¡	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.
#	Non-income producing security.
§	Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical.
**	Step coupon security. Coupon changes periodically based upon a predetermined schedule. The rate shown is the rate in effect at January 31, 2024.
&	Illiquid security.

 

ABBREVIATION
ADR	American Depositary Receipt.
FOREIGN CURRENCY ABBREVIATION
EUR	European Monetary Unit

 

Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The principal amount for such securities is shown in the respective foreign currency. 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.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Securities		$	—			$	878,757			$	—			$	878,757
Corporate Bonds			—				402,052,214				—				402,052,214
Convertible Bonds			—				523,845,947				—				523,845,947
Bank Loans			—				135,227,040				—				135,227,040
U.S. Government and Agency Security			—				36,761,718				—				36,761,718
Convertible Preferred Stocks			29,676,568				7,515,854				—				37,192,422
Common Stocks			2,392,136,910				3,150,193				—				2,395,287,103
Warrants			—				13				—				13
Exchange-Traded Funds			7,948,841				—				—				7,948,841
Preferred Stocks			6,356,343				670,514				—				7,026,857
Purchased Options			971,962				—				—				971,962
Total		$	2,437,090,624			$	1,110,102,250			$	—			$	3,547,192,874

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT				VALUE
Asset Backed Security (0.0%)
Other (0.0%)
215,000		SVC ABS, LLC Series 2023-1A, Class C*
		6.700%, 02/20/53
		(Cost $198,736)		$	197,835
Corporate Bonds (16.3%)
Airlines (0.2%)
237,099		Alaska Airlines Pass Through Trust Series 2020-1, Class A*µ
		4.800%, 02/15/29			230,157
112,023		Alaska Airlines Pass Through Trust Series 2020-1, Class B*
		8.000%, 02/15/27			113,179
273,340		American Airlines Pass Through Trust Series 2021-1, Class B
		3.950%, 01/11/32			243,866
147,000		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
		5.500%, 04/20/26			145,667
258,895		British Airways Pass Through Trust Series 2021-1, Class B*
		3.900%, 03/15/33			234,898
209,530		JetBlue Pass Through Trust Series 2020-1, Class B
		7.750%, 05/15/30			211,336
					1,179,103
Communication Services (1.7%)
200,000		Altice France Holding, SA*
		10.500%, 05/15/27			115,570
300,000		Altice France, SA*
		5.500%, 10/15/29			221,583
320,000		APi Group DE, Inc.*^
		4.750%, 10/15/29			299,654
280,000		Ashtead Capital, Inc.*
		2.450%, 08/12/31			228,175
		Audacy Capital Corp.*@
336,000		6.750%, 03/31/29			13,564
131,000		6.500%, 05/01/27			5,590
242,000		Cincinnati Bell Telephone Company, LLC
		6.300%, 12/01/28			214,642
80,000		Clear Channel Outdoor Holdings, Inc.*
		9.000%, 09/15/28			83,599
371,000		Consolidated Communications, Inc.*^
		6.500%, 10/01/28			323,256
		CSC Holdings, LLC*
400,000		5.375%, 02/01/28			344,284
400,000		4.625%, 12/01/30			207,000
400,000		4.500%, 11/15/31			287,468
370,000		5.500%, 04/15/27			332,671
200,000		5.750%, 01/15/30			106,206
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
210,000		6.625%, 08/15/27			14,370
146,000		5.375%, 08/15/26			10,305
341,000		Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
		5.875%, 08/15/27			324,247
275,000		Frontier California, Inc.
		6.750%, 05/15/27			265,972
		Frontier Communications Holdings, LLC*
169,000		5.000%, 05/01/28			156,153
65,000		8.750%, 05/15/30			66,606
289,000		Frontier Florida, LLC@
		6.860%, 02/01/28			278,483
400,000		Frontier North, Inc.@
		6.730%, 02/15/28			383,720
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
235,000		3.500%, 03/01/29			212,844
69,000		5.250%, 12/01/27			67,791
		iHeartCommunications, Inc.
165,000		8.375%, 05/01/27			103,222
100,000		5.250%, 08/15/27*			77,753
330,000		LCPR Senior Secured Financing DAC*
		6.750%, 10/15/27			320,001
198,330		Ligado Networks, LLC*
		15.500%, 11/01/23
		PIK rate			34,152
		Lumen Technologies, Inc.
200,000		7.600%, 09/15/39			53,226
135,000		4.000%, 02/15/27*^			71,472
67,000		7.650%, 03/15/42			18,473
130,000		Match Group Holdings II, LLC*^
		3.625%, 10/01/31			111,354
220,000		Nexstar Media, Inc.*
		5.625%, 07/15/27			214,179
260,000		Paramount Global
		4.900%, 08/15/44			205,686
94,000		Qwest Corp.
		7.250%, 09/15/25			92,144
		Scripps Escrow II, Inc.*
136,000		3.875%, 01/15/29			118,302
68,000		5.375%, 01/15/31			52,281
225,000		Scripps Escrow, Inc.*
		5.875%, 07/15/27			203,063
		Sirius XM Radio, Inc.*
345,000		5.500%, 07/01/29			328,371
268,000		4.000%, 07/15/28			243,499
130,000		3.125%, 09/01/26			121,581
65,000		3.875%, 09/01/31			54,278
242,000		Spanish Broadcasting System, Inc.*
		9.750%, 03/01/26			128,693
680,000		Sprint, LLCµ
		7.125%, 06/15/24			683,346
300,000		Stagwell Global, LLC*
		5.625%, 08/15/29			275,409
260,000		Telesat Canada / Telesat, LLC*
		4.875%, 06/01/27			154,172
105,000		Time Warner Cable, LLC
		7.300%, 07/01/38			110,203
300,000		United States Cellular Corp.
		6.700%, 12/15/33			309,321
202,000		Univision Communications, Inc.*
		8.000%, 08/15/28			205,586

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
135,000		Viasat, Inc.*^
		5.625%, 04/15/27		$	126,739
					8,980,259
		Consumer Discretionary (3.4%)
320,000		Abercrombie & Fitch Management Company*
		8.750%, 07/15/25			325,853
265,000		Adams Homes, Inc.*
		9.250%, 10/15/28			271,604
330,000		Adient Global Holdings Company*^
		8.250%, 04/15/31			348,850
213,000		American Axle & Manufacturing, Inc.
		6.875%, 07/01/28			208,406
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
228,000		4.625%, 08/01/29			207,754
204,000		6.625%, 01/15/28			202,380
325,000		At Home Group, Inc.*
		4.875%, 07/15/28			143,699
		Bath & Body Works, Inc.
355,000		6.694%, 01/15/27			360,918
195,000		6.875%, 11/01/35			195,111
		Caesars Entertainment, Inc.*
168,000		4.625%, 10/15/29^			153,560
132,000		8.125%, 07/01/27			135,579
		Carnival Corp.*
134,000		4.000%, 08/01/28			124,290
133,000		7.625%, 03/01/26^			135,157
16,000		7.000%, 08/15/29^			16,661
		Carvana Company*
52,000		14.000%, 06/01/31			46,420
44,000		13.000%, 06/01/30			39,233
29,000		12.000%, 12/01/28			25,754
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
575,000		5.125%, 05/01/27			554,996
315,000		4.500%, 08/15/30			273,798
300,000		6.375%, 09/01/29			292,239
300,000		4.750%, 03/01/30			266,742
266,000		4.250%, 02/01/31			224,533
130,000		5.000%, 02/01/28			122,811
130,000		4.750%, 02/01/32			111,632
130,000		CDI Escrow Issuer, Inc.*
		5.750%, 04/01/30			125,922
207,000		Cedar Fair, LP
		5.250%, 07/15/29			198,134
132,000		Churchill Downs, Inc.*
		6.750%, 05/01/31			133,894
		Dana, Inc.
220,000		4.250%, 09/01/30^			192,577
195,000		4.500%, 02/15/32			167,934
		DISH DBS Corp.
300,000		5.125%, 06/01/29			111,876
190,000		5.250%, 12/01/26*			150,041
168,000		7.375%, 07/01/28			74,353
135,000		5.750%, 12/01/28*			91,067
115,000		7.750%, 07/01/26			68,052
265,000		DISH Network Corp.*
		11.750%, 11/15/27			276,774
400,000		Empire Resorts, Inc.*
		7.750%, 11/01/26			370,956
296,000		Everi Holdings, Inc.*
		5.000%, 07/15/29			272,364
275,000		Ford Motor Company
		6.100%, 08/19/32			275,179
		Ford Motor Credit Company, LLC
425,000		4.000%, 11/13/30			379,291
350,000		5.113%, 05/03/29			340,190
340,000		7.200%, 06/10/30			361,600
240,000		7.350%, 11/04/27			252,468
98,000		Gap, Inc.*
		3.875%, 10/01/31			80,988
135,000		General Motors Company
		5.200%, 04/01/45			122,498
		goeasy, Ltd.*
455,000		9.250%, 12/01/28			484,934
241,000		4.375%, 05/01/26			230,613
140,000		Goodyear Tire & Rubber Company^
		5.250%, 07/15/31			127,554
114,000		Group 1 Automotive, Inc.*
		4.000%, 08/15/28			105,273
283,000		Guitar Center, Inc.*^
		8.500%, 01/15/26			251,457
145,000		International Game Technology, PLC*
		6.250%, 01/15/27			145,963
72,024		JetBlue Pass Through Trust Series 2019-2, Class B
		8.000%, 11/15/27			72,614
233,000		Kohl's Corp.
		5.550%, 07/17/45			159,004
265,000		LCM Investments Holdings II, LLC*
		8.250%, 08/01/31			272,113
265,000		Liberty Interactive, LLC
		8.250%, 02/01/30			141,579
256,000		Life Time, Inc.*^
		8.000%, 04/15/26			258,965
135,000		Light & Wonder International, Inc.*
		7.500%, 09/01/31			140,682
100,000		Lindblad Expeditions Holdings, Inc.*
		9.000%, 05/15/28			104,010
168,000		Lindblad Expeditions, LLC*
		6.750%, 02/15/27			168,128
175,000		M/I Homes, Inc.
		3.950%, 02/15/30			156,951
		Macy's Retail Holdings, LLC
305,000		6.700%, 07/15/34*			256,673
265,000		4.300%, 02/15/43			201,212
332,000		Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
		4.875%, 05/01/29			308,235
160,000		Newell Brands, Inc.
		5.200%, 04/01/26			155,814
		Nordstrom, Inc.
130,000		5.000%, 01/15/44			93,937
123,000		4.250%, 08/01/31			102,698
399,000		Patrick Industries, Inc.*^
		4.750%, 05/01/29			368,002
305,000		PENN Entertainment, Inc.*^
		4.125%, 07/01/29			262,352
250,000		PetSmart, Inc. / PetSmart Finance Corp.*
		4.750%, 02/15/28			233,690
365,000		Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*^
		5.625%, 09/01/29			275,122

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED) 

 

PRINCIPAL
AMOUNT				VALUE
135,000		QVC, Inc.
		5.450%, 08/15/34		$	89,714
130,000		Raising Cane's Restaurants, LLC*
		9.375%, 05/01/29			139,420
529,000		Rite Aid Corp.*@
		8.000%, 11/15/26			401,876
132,000		Royal Caribbean Cruises, Ltd.*
		7.250%, 01/15/30			137,647
370,000		Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
		4.625%, 03/01/29			318,992
395,000		Six Flags Entertainment Corp.*^
		7.250%, 05/15/31			403,366
303,000		Sonic Automotive, Inc.*^
		4.625%, 11/15/29			274,460
193,000		Speedway Motorsports, LLC / Speedway Funding II, Inc.*
		4.875%, 11/01/27			183,219
545,000		Station Casinos, LLC*
		4.500%, 02/15/28			514,278
		STL Holding Company, LLC*
200,000		7.500%, 02/15/26			203,714
65,000		8.750%, 02/15/29			66,191
162,000		Taylor Morrison Communities, Inc.*
		5.750%, 01/15/28			161,461
65,000		Viking Cruises, Ltd.*
		9.125%, 07/15/31			69,649
300,000		Vista Outdoor, Inc.*^
		4.500%, 03/15/29			294,999
265,000		ZF North America Capital, Inc.*
		7.125%, 04/14/30			279,697
					17,450,396
Consumer Staples (0.8%)
303,000		1375209 B.C., Ltd.*^
		9.000%, 01/30/28			294,331
395,000		Arrow Bidco, LLC*
		10.750%, 06/15/25			409,224
255,000		B&G Foods, Inc.*
		8.000%, 09/15/28			266,248
305,000		Central Garden & Pet Company*
		4.125%, 04/30/31			270,105
304,000		Edgewell Personal Care Company*
		4.125%, 04/01/29			278,312
		Energizer Holdings, Inc.*
370,000		4.375%, 03/31/29			335,050
66,000		6.500%, 12/31/27			65,789
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
390,000		5.500%, 01/15/30			381,802
175,000		5.125%, 02/01/28µ			173,640
100,000		5.750%, 04/01/33			99,160
177,000		New Albertsons, LP
		7.750%, 06/15/26			181,675
261,000		Performance Food Group, Inc.*
		4.250%, 08/01/29			239,363
210,000		Pilgrim's Pride Corp.
		4.250%, 04/15/31			189,464
115,000		Post Holdings, Inc.*
		5.750%, 03/01/27			114,651
252,000		Prestige Brands, Inc.*
		3.750%, 04/01/31			219,686
240,000		United Natural Foods, Inc.*^
		6.750%, 10/15/28			201,960
413,000		Vector Group, Ltd.*
		5.750%, 02/01/29			381,443
					4,101,903
Energy (2.1%)
132,000		Antero Resources Corp.*
		5.375%, 03/01/30			126,075
268,000		Apache Corp.
		5.100%, 09/01/40			230,480
135,000		Buckeye Partners, LP
		5.850%, 11/15/43			111,510
365,000		Callon Petroleum Company*^
		7.500%, 06/15/30			384,768
129,000		Cheniere Energy, Inc.µ
		4.625%, 10/15/28			125,004
198,000		Chesapeake Energy Corp.*
		6.750%, 04/15/29			200,420
371,000		Civitas Resources, Inc.*
		8.750%, 07/01/31			395,965
		Continental Resources, Inc.*
200,000		2.875%, 04/01/32			163,368
135,000		5.750%, 01/15/31			134,414
202,000		DT Midstream, Inc.*
		4.125%, 06/15/29			185,757
		Earthstone Energy Holdings, LLC*
256,000		8.000%, 04/15/27			265,308
100,000		9.875%, 07/15/31			111,125
150,000		Enbridge, Inc.‡
		7.375%, 01/15/83
		5 year CMT + 3.71%			150,264
		Energy Transfer, LP‡
390,000		8.586%, 11/01/66
		3 mo. SOFR + 3.28%			348,391
197,000		6.500%, 02/01/36
		5 year CMT + 5.69%			190,534
		EnLink Midstream Partners, LP
340,000		9.756%, 02/01/36‡
		3 mo. USD LIBOR + 4.11%			321,395
285,000		4.850%, 07/15/26			280,055
168,000		Enlink Midstream, LLC*
		6.500%, 09/01/30			172,141
430,000		EQM Midstream Partners, LP*
		7.500%, 06/01/27			442,530
		Genesis Energy, LP / Genesis Energy Finance Corp.
196,000		8.875%, 04/15/30			205,190
109,000		6.250%, 05/15/26			108,576
		Gulfport Energy Corp.
255,000		8.000%, 05/17/26*			257,499
79,696		8.000%, 05/17/26			80,477
365,000		Hilcorp Energy I, LP / Hilcorp Finance Company*
		6.000%, 04/15/30			354,660
196,000		Howard Midstream Energy Partners, LLC*
		6.750%, 01/15/27			196,604
114,000		Kodiak Gas Services, LLC*
		7.250%, 02/15/29			115,343
262,000		Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
		6.000%, 08/01/26			259,126

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED) 

 

PRINCIPAL
AMOUNT				VALUE
		Moss Creek Resources Holdings, Inc.*
145,000		10.500%, 05/15/27		$	149,343
130,000		7.500%, 01/15/26^			129,588
		Nabors Industries, Inc.*
200,000		7.375%, 05/15/27			197,878
100,000		9.125%, 01/31/30			102,039
200,000		Nabors Industries, Ltd.*^
		7.500%, 01/15/28			183,248
272,000		New Fortress Energy, Inc.*
		6.750%, 09/15/25			268,826
198,000		Oceaneering International, Inc.
		6.000%, 02/01/28			194,117
280,000		Parkland Corp.*
		5.875%, 07/15/27			277,967
138,000		Patterson-UTI Energy, Inc.^
		5.150%, 11/15/29			133,347
66,000		Permian Resources Operating LLC*
		7.000%, 01/15/32			68,196
270,000		Plains All American Pipeline, LP‡
		9.751%, 02/01/36
		3 mo. USD LIBOR + 4.11%			267,519
365,000		Rockcliff Energy II, LLC*
		5.500%, 10/15/29			340,114
130,000		Southwestern Energy Company
		4.750%, 02/01/32			120,506
375,250		Transocean, Inc.*
		8.750%, 02/15/30			392,628
		Venture Global Calcasieu Pass, LLC*
165,000		6.250%, 01/15/30			165,457
65,000		4.125%, 08/15/31			57,582
65,000		3.875%, 08/15/29			58,102
		Venture Global LNG, Inc.*
330,000		8.375%, 06/01/31			334,366
200,000		8.125%, 06/01/28			202,548
135,000		9.875%, 02/01/32			142,016
135,000		9.500%, 02/01/29			143,533
		Vital Energy, Inc.
168,000		9.750%, 10/15/30			178,631
165,000		7.750%, 07/31/29*^			163,008
275,000		VOC Escrow, Ltd.*
		5.000%, 02/15/28			263,414
327,000		Weatherford International, Ltd.*
		8.625%, 04/30/30			334,897
					10,785,849
Financials (2.7%)
420,000		Acrisure, LLC / Acrisure Finance, Inc.*
		8.250%, 02/01/29			421,529
400,000		Aethon United BR, LP / Aethon United Finance Corp.*
		8.250%, 02/15/26			399,020
187,000		AG Issuer, LLC*
		6.250%, 03/01/28			184,862
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
460,000		6.750%, 10/15/27			450,611
35,000		7.000%, 01/15/31			35,441
		Ally Financial, Inc.
427,000		4.700%, 02/01/36
		7 year CMT + 3.48%‡			340,975
110,000		8.000%, 11/01/31			121,822
533,000		AmWINS Group, Inc.*
		4.875%, 06/30/29			498,190
198,000		Aviation Capital Group, LLC*µ
		3.500%, 11/01/27			184,603
398,000		BroadStreet Partners, Inc.*
		5.875%, 04/15/29			377,877
315,000		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
		4.500%, 04/01/27			279,355
200,000		Burford Capital Global Financial, LLC*
		6.875%, 04/15/30			195,096
		Credit Acceptance Corp.
255,000		6.625%, 03/15/26^			255,337
180,000		9.250%, 12/15/28*			189,673
265,000		Cushman & Wakefield U.S. Borrower LLC*^
		8.875%, 09/01/31			278,335
344,000		Enact Holdings, Inc.*µ
		6.500%, 08/15/25			343,436
300,000		GGAM Finance, Ltd.*
		8.000%, 02/15/27			309,609
333,000		Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
		3.750%, 12/15/27			284,772
275,000		GTCR W-2 Merger Sub, LLC*
		7.500%, 01/15/31			286,751
145,000		HAT Holdings I LLC / HAT Holdings II LLC*
		8.000%, 06/15/27			150,401
		HUB International, Ltd.*
398,000		5.625%, 12/01/29			375,784
130,000		7.375%, 01/31/32			133,060
202,000		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
		4.375%, 02/01/29			169,019
360,000		ILFC E-Capital Trust II*‡
		7.436%, 12/21/65
		3 mo. USD LIBOR + 1.80%			285,343
550,000		Iron Mountain, Inc.*
		5.250%, 03/15/28			533,786
540,000		Jefferies Finance, LLC / JFIN Co-Issuer Corp.*
		5.000%, 08/15/28			487,566
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
522,000		5.250%, 10/01/25			513,674
280,000		4.750%, 06/15/29			250,785
245,000		LD Holdings Group, LLC*^
		6.125%, 04/01/28			199,915
		Level 3 Financing, Inc.*
280,000		4.250%, 07/01/28			94,150
135,000		4.625%, 09/15/27			71,272
200,000		LPL Holdings, Inc.*
		4.000%, 03/15/29			184,446
265,000		Macquarie Airfinance Holdings, Ltd.*
		8.125%, 03/30/29			275,192
129,027		Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC*^
		14.750%, 11/14/28			140,700
417,000		MetLife, Inc.
		6.400%, 12/15/66			426,040

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
365,000		Nationstar Mortgage Holdings, Inc.*
		5.500%, 08/15/28		$	347,732
		Navient Corp.
288,000		5.000%, 03/15/27			274,870
145,000		4.875%, 03/15/28			131,886
170,000		Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
		4.500%, 09/30/28			144,667
130,000		Newmark Group, Inc.*
		7.500%, 01/12/29			132,865
		OneMain Finance Corp.
185,000		9.000%, 01/15/29			195,020
180,000		3.875%, 09/15/28			158,188
127,000		7.125%, 03/15/26^			128,803
132,000		Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
		5.875%, 10/01/28			129,238
416,000		PHH Mortgage Corp.*
		7.875%, 03/15/26			384,322
300,000		RHP Hotel Properties, LP / RHP Finance Corp.*
		4.500%, 02/15/29			279,099
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
125,000		3.625%, 03/01/29			111,566
120,000		3.875%, 03/01/31			105,460
65,000		2.875%, 10/15/26			60,324
269,000		StoneX Group, Inc.*
		8.625%, 06/15/25			272,075
		United Wholesale Mortgage, LLC*
310,000		5.500%, 04/15/29^			293,161
130,000		5.750%, 06/15/27			127,776
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
135,000		6.500%, 02/15/29^			95,269
132,000		10.500%, 02/15/28			134,330
300,000		VZ Secured Financing, BV*
		5.000%, 01/15/32			262,338
280,000		XHR, LP*^
		6.375%, 08/15/25			280,462
					13,777,878
Health Care (1.1%)
		Bausch Health Companies, Inc.*
539,000		11.000%, 09/30/28			370,471
105,000		14.000%, 10/15/30			59,420
98,000		6.125%, 02/01/27			62,200
		CHS/Community Health Systems, Inc.*
533,000		6.125%, 04/01/30			353,081
151,000		8.000%, 03/15/26			148,783
146,000		6.875%, 04/15/29			100,778
130,000		10.875%, 01/15/32			136,582
33,000		5.250%, 05/15/30			27,431
		DaVita, Inc.*
313,000		3.750%, 02/15/31			258,200
291,000		4.625%, 06/01/30			257,689
		Embecta Corp.*
195,000		5.000%, 02/15/30			159,771
67,000		6.750%, 02/15/30			59,118
		Encompass Health Corp.
130,000		4.750%, 02/01/30			122,201
130,000		4.500%, 02/01/28			124,365
282,000		HCA, Inc.
		7.500%, 11/06/33			318,403
200,000		Jazz Securities DAC*
		4.375%, 01/15/29			185,032
		Medline Borrower, LP*
336,000		5.250%, 10/01/29			313,555
335,000		3.875%, 04/01/29			303,691
		Organon & Company / Organon Foreign Debt Co-Issuer, BV*
490,000		5.125%, 04/30/31			422,081
200,000		4.125%, 04/30/28			182,990
302,000		Team Health Holdings, Inc.*
		6.375%, 02/01/25			255,311
		Tenet Healthcare Corp.
625,000		6.250%, 02/01/27			623,781
375,000		6.875%, 11/15/31			386,558
		Teva Pharmaceutical Finance Netherlands III, BV
335,000		5.125%, 05/09/29			323,352
200,000		4.750%, 05/09/27			193,500
130,000		3.150%, 10/01/26			121,365
					5,869,709
Industrials (2.3%)
300,000		ACCO Brands Corp.*^
		4.250%, 03/15/29			272,271
300,000		AerCap Holdings, NV^‡
		5.875%, 10/10/79
		5 year CMT + 4.54%			298,035
265,000		Air Lease Corp.‡
		4.125%, 02/01/36
		5 year CMT + 3.15%			224,603
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
440,000		4.625%, 01/15/27			427,165
195,000		5.875%, 02/15/28			194,901
233,000		Allegiant Travel Company*
		7.250%, 08/15/27			227,991
146,000		Arcosa, Inc.*
		4.375%, 04/15/29			137,021
700,000		ARD Finance, SA*
		6.500%, 06/30/27
		7.250% PIK Rate			339,696
206,000		Beacon Roofing Supply, Inc.*
		4.125%, 05/15/29			186,788
		Bombardier, Inc.*
135,000		7.875%, 04/15/27			135,186
130,000		8.750%, 11/15/30			136,796
261,000		BWX Technologies, Inc.*
		4.125%, 04/15/29			242,234
273,000		Cascades, Inc. / Cascades USA, Inc.*
		5.375%, 01/15/28			267,917
68,000		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*µ
		4.750%, 10/20/28			66,933
350,000		Deluxe Corp.*
		8.000%, 06/01/29			315,308
260,000		Eco Material Technologies, Inc.*
		7.875%, 01/31/27			260,354
132,000		Emerald Debt Merger Sub, LLC*
		6.625%, 12/15/30			133,439
		EnerSys*
145,000		4.375%, 12/15/27			137,393
135,000		6.625%, 01/15/32			136,949

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
161,000		Graham Packaging Company, Inc.*
		7.125%, 08/15/28		$	144,662
		Graphic Packaging International, LLC*
175,000		4.750%, 07/15/27^			170,496
125,000		3.500%, 03/01/29			113,056
290,000		Great Lakes Dredge & Dock Corp.*^
		5.250%, 06/01/29			251,868
623,000		H&E Equipment Services, Inc.*
		3.875%, 12/15/28			566,182
337,000		Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
		5.750%, 01/20/26			316,948
350,000		Herc Holdings, Inc.*
		5.500%, 07/15/27			344,018
310,000		IEA Energy Services, LLC*
		6.625%, 08/15/29			291,766
		JELD-WEN, Inc.*
160,000		4.625%, 12/15/25			156,483
135,000		4.875%, 12/15/27^			128,933
445,000		Ken Garff Automotive, LLC*
		4.875%, 09/15/28			415,848
265,000		Knife River Holding Company*
		7.750%, 05/01/31			278,796
69,000		MasTec, Inc.*µ
		4.500%, 08/15/28			64,833
170,000		Moog, Inc.*
		4.250%, 12/15/27			159,399
323,000		Newfold Digital Holdings Group, Inc.*
		6.000%, 02/15/29			244,660
272,000		Novelis Corp.*
		4.750%, 01/30/30			252,615
100,000		OI European Group, BV*^
		4.750%, 02/15/30			92,652
310,000		Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*^
		4.000%, 10/15/27			289,432
		Sealed Air Corp.*
206,000		6.125%, 02/01/28			207,125
65,000		5.000%, 04/15/29^			62,698
65,000		Sealed Air Corp./Sealed Air Corp. U.S.*
		7.250%, 02/15/31			68,190
247,000		Sensata Technologies, Inc.*
		3.750%, 02/15/31			215,167
		Sinclair Television Group, Inc.*
201,000		4.125%, 12/01/30			155,502
135,000		5.500%, 03/01/30			104,112
270,000		Standard Industries, Inc.*
		5.000%, 02/15/27			262,637
216,000		Stericycle, Inc.*
		3.875%, 01/15/29			196,651
65,000		Summit Materials LLC / Summit Materials Finance Corp.*
		7.250%, 01/15/31			67,607
		TransDigm, Inc.
285,000		6.875%, 12/15/30*			293,108
205,000		7.500%, 03/15/27			205,674
200,000		6.750%, 08/15/28*			203,534
151,000		6.250%, 03/15/26*			150,286
100,000		7.125%, 12/01/31*			104,325
266,000		Tronox, Inc.*
		4.625%, 03/15/29			235,165
99,329		United Airlines Pass Through Trust Series 2019-2, Class B
		3.500%, 11/01/29			90,840
265,000		Vertiv Group Corp.*
		4.125%, 11/15/28			246,813
274,000		Wabash National Corp.*
		4.500%, 10/15/28			249,874
240,000		Waste Pro USA, Inc.*
		5.500%, 02/15/26			233,210
		Williams Scotsman, Inc.*
157,000		4.625%, 08/15/28			148,241
130,000		7.375%, 10/01/31			136,309
					12,060,695
Information Technology (0.8%)
66,000		Booz Allen Hamilton, Inc.*
		4.000%, 07/01/29			61,995
153,000		Coherent Corp.*
		5.000%, 12/15/29			143,304
185,000		CommScope Technologies, LLC*^
		6.000%, 06/15/25			147,241
245,000		CommScope, Inc.*
		4.750%, 09/01/29			162,237
162,000		Dell International, LLC / EMC Corp.µ
		6.020%, 06/15/26			165,574
130,000		Dun & Bradstreet Corp.*^
		5.000%, 12/15/29			120,991
138,000		Fair Isaac Corp.*
		4.000%, 06/15/28			128,642
300,000		KBR, Inc.*
		4.750%, 09/30/28			276,786
		MPH Acquisition Holdings, LLC*
300,000		5.750%, 11/01/28^			238,869
130,000		5.500%, 09/01/28			115,601
132,000		NCL Corp., Ltd.*
		8.125%, 01/15/29			138,574
130,000		NCR Voyix Corp.*
		5.125%, 04/15/29			122,417
198,000		ON Semiconductor Corp.*
		3.875%, 09/01/28			181,784
		Open Text Corp.*
204,000		3.875%, 02/15/28			189,645
135,000		6.900%, 12/01/27			140,334
98,000		3.875%, 12/01/29			88,503
98,000		Open Text Holdings, Inc.*^
		4.125%, 12/01/31			86,771
245,000		Playtika Holding Corp.*
		4.250%, 03/15/29			212,584
370,000		TTM Technologies, Inc.*
		4.000%, 03/01/29			334,839
		Twilio, Inc.
185,000		3.625%, 03/15/29			167,275
66,000		3.875%, 03/15/31			58,205
97,000		UKG, Inc.*
		6.875%, 02/01/31			98,197
325,000		Viavi Solutions, Inc.*
		3.750%, 10/01/29			283,289
300,000		ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
		3.875%, 02/01/29			267,300
					3,930,957

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED) 

 

PRINCIPAL
AMOUNT				VALUE
		Materials (0.7%)
140,000		ArcelorMittal, SA
		7.000%, 10/15/39		$	152,848
147,000		ATI, Inc.
		5.875%, 12/01/27			144,746
67,000		Carpenter Technology Corp.
		7.625%, 03/15/30			69,336
195,000		Chemours Company*
		4.625%, 11/15/29			170,709
420,000		Clearwater Paper Corp.*^
		4.750%, 08/15/28			394,376
199,000		Cleveland-Cliffs, Inc.*
		6.750%, 04/15/30			200,835
		Commercial Metals Company
130,000		4.125%, 01/15/30			118,979
65,000		4.375%, 03/15/32			58,187
250,000		Constellium, SE*^
		3.750%, 04/15/29			225,395
136,000		HB Fuller Company
		4.250%, 10/15/28			126,869
200,000		INEOS Finance, PLC*^
		6.750%, 05/15/28			195,746
215,000		JW Aluminum Continuous Cast Company*
		10.250%, 06/01/26			217,404
235,000		Kaiser Aluminum Corp.*
		4.625%, 03/01/28			216,705
63,000		LSF11 A5 HoldCo, LLC*
		6.625%, 10/15/29			53,712
		Mercer International, Inc.
344,000		5.125%, 02/01/29			295,348
133,000		12.875%, 10/01/28*			143,024
250,000		OCI, NV*
		6.700%, 03/16/33			249,960
		Owens-Brockway Glass Container, Inc.*
200,000		7.250%, 05/15/31			201,900
130,000		6.625%, 05/13/27^			130,161
305,000		Silgan Holdings, Inc.
		4.125%, 02/01/28			287,347
131,000		Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
		5.125%, 04/01/29			51,480
					3,705,067
		Other (0.1%)
		Gen Digital, Inc.*
140,000		7.125%, 09/30/30^			145,282
140,000		6.750%, 09/30/27			142,344
					287,626
		Real Estate (0.2%)
210,000		EPR Properties
		3.750%, 08/15/29			187,261
		Forestar Group, Inc.*
195,000		5.000%, 03/01/28			185,480
137,000		3.850%, 05/15/26			130,297
301,000		MIWD Holdco II, LLC / MIWD Finance Corp.*
		5.500%, 02/01/30			274,301
125,000		Service Properties Trust^
		5.250%, 02/15/26			121,133
					898,472
		Special Purpose Acquisition Companies (0.1%)
		Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
260,000		6.750%, 01/15/30^			234,049
131,000		4.625%, 01/15/29			120,747
					354,796
		Utilities (0.1%)
97,000		PPL Capital Funding, Inc.‡
		8.275%, 03/30/67
		3 mo. USD LIBOR + 2.67%			93,082
		Vistra Corp.*‡
125,000		7.000%, 02/01/68
		5 year CMT + 5.74%			122,025
65,000		8.000%, 02/01/68
		5 year CMT + 6.93%			65,301
					280,408
		Total Corporate Bonds (Cost $74,838,650)			83,663,118
Convertible Bonds (130.7%)
		Communication Services (10.1%)
264,000		Cable One, Inc.µ
		0.000%, 03/15/26			226,805
		Liberty Media Corp.*
7,500,000		3.750%, 03/15/28			9,304,950
7,250,000		2.375%, 09/30/53			7,610,687
7,750,000		Liberty Media Corp.-Liberty Formula One
		2.250%, 08/15/27			8,077,205
4,500,000		Match Group Financeco 3, Inc.*µ
		2.000%, 01/15/30			4,006,800
5,250,000		Perficient, Inc.µ
		0.125%, 11/15/26			4,470,375
		Snap, Inc.µ
11,000,000		0.000%, 05/01/27			8,860,830
5,000,000		0.750%, 08/01/26			5,249,250
3,000,000		Zillow Group, Inc.
		1.375%, 09/01/26			4,098,390
					51,905,292
		Consumer Discretionary (26.5%)
9,750,000		Airbnb, Inc.µ
		0.000%, 03/15/26			8,863,725
4,000,000		Booking Holdings, Inc.
		0.750%, 05/01/25			7,468,280
3,750,000		Carnival Corp.
		5.750%, 12/01/27			5,709,638
6,000,000		Chegg, Inc.µ
		0.000%, 09/01/26			4,986,120
		DISH Network Corp.µ
11,400,000		0.000%, 12/15/25			8,159,550
278,000		2.375%, 03/15/24			272,565
11,750,000		DraftKings Holdings, Inc.µ
		0.000%, 03/15/28			9,803,847
11,250,000		Etsy, Inc.µ
		0.125%, 09/01/27			9,330,525
14,500,000		Ford Motor Company
		0.000%, 03/15/26			14,133,585
7,500,000		Liberty Broadband Corp.*µ
		3.125%, 03/31/53			7,364,175

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
2,125,000		Lucid Group, Inc.*
		1.250%, 12/15/26		$	844,921
9,000,000		Marriott Vacations Worldwide Corp.µ
		3.250%, 12/15/27			7,959,240
10,000,000		Rivian Automotive, Inc.*µ
		4.625%, 03/15/29			10,651,800
1,750,000		Royal Caribbean Cruises, Ltd.µ
		6.000%, 08/15/25			4,583,355
5,000,000		Shake Shack, Inc.µ
		0.000%, 03/01/28			4,097,750
2,750,000		Stride, Inc.
		1.125%, 09/01/27			3,526,078
13,250,000		Vail Resorts, Inc.µ
		0.000%, 01/01/26			11,966,340
11,750,000		Wayfair, Inc.µ
		3.250%, 09/15/27			12,974,467
3,286,000		Winnebago Industries, Inc.*µ
		3.250%, 01/15/30			3,381,360
					136,077,321
		Consumer Staples (0.8%)
4,000,000		Post Holdings, Inc.
		2.500%, 08/15/27			4,164,360
		Energy (2.6%)
4,265,000		Nabors Industries, Inc.*µ
		1.750%, 06/15/29			3,156,654
3,750,000		Northern Oil & Gas, Inc.
		3.625%, 04/15/29			4,177,913
2,500,000		Pioneer Natural Resources Company
		0.250%, 05/15/25			6,215,850
9,600,000		SunEdison, Inc.*@&
		0.250%, 01/15/49			96,000
					13,646,417
		Financials (1.7%)
7,500,000		Morgan Stanley Finance, LLC
		1.000%, 11/23/27			8,728,500
		Health Care (27.3%)
4,000,000		Alnylam Pharmaceuticals, Inc.µ
		1.000%, 09/15/27			3,859,720
4,750,000		Alphatec Holdings, Inc.
		0.750%, 08/01/26			5,213,647
4,752,000		BioMarin Pharmaceutical, Inc.µ
		0.599%, 08/01/24			4,681,718
8,250,000		CONMED Corp.µ
		2.250%, 06/15/27			7,849,215
10,500,000		CryoPort, Inc.*µ
		0.750%, 12/01/26			8,601,705
		Dexcom, Inc.
13,817,000		0.250%, 11/15/25			14,305,155
7,000,000		0.375%, 05/15/28*µ			7,055,160
2,525,000		Enovis Corp.*^
		3.875%, 10/15/28			3,121,683
3,750,000		Envista Holdings Corp.*µ
		1.750%, 08/15/28			3,424,913
		Exact Sciences Corp.µ
6,000,000		0.375%, 03/15/27			5,576,640
3,250,000		2.000%, 03/01/30*			3,609,873
6,250,000		Halozyme Therapeutics, Inc.µ
		1.000%, 08/15/28			5,671,062
1,772,000		Immunocore Holdings, PLC*
		2.500%, 02/01/30			1,911,102
3,750,000		Insmed, Inc.
		0.750%, 06/01/28			4,087,200
3,750,000		Insulet Corp.
		0.375%, 09/01/26			4,016,925
7,750,000		Integer Holdings Corp.*
		2.125%, 02/15/28			10,097,707
3,750,000		Ionis Pharmaceuticals, Inc.^
		0.000%, 04/01/26			3,988,313
8,000,000		Jazz Investments I, Ltd.
		2.000%, 06/15/26			8,067,360
3,189,000		Lantheus Holdings, Inc.µ
		2.625%, 12/15/27			3,306,004
9,000,000		NeoGenomics, Inc.µ
		0.250%, 01/15/28			6,877,710
7,500,000		Omnicell, Inc.µ
		0.250%, 09/15/25			6,894,750
7,000,000		Pacira BioSciences, Inc.µ
		0.750%, 08/01/25			6,505,100
3,250,000		Sarepta Therapeutics, Inc.µ
		1.250%, 09/15/27			3,668,600
7,250,000		Shockwave Medical, Inc.*
		1.000%, 08/15/28			7,668,180
					140,059,442
		Industrials (10.0%)
3,750,000		Axon Enterprise, Inc.
		0.500%, 12/15/27			4,609,837
3,625,000		Fluor Corp.*^
		1.125%, 08/15/29			3,840,796
6,250,000		John Bean Technologies Corp.µ
		0.250%, 05/15/26			5,660,875
3,750,000		Middleby Corp.
		1.000%, 09/01/25			4,431,113
2,750,000		Parsons Corp.
		0.250%, 08/15/25			4,086,665
3,500,000		Tetra Tech, Inc.*µ
		2.250%, 08/15/28			3,559,360
		Uber Technologies, Inc.
17,000,000		0.000%, 12/15/25^			17,572,900
6,758,000		0.875%, 12/01/28*µ			7,549,294
					51,310,840
		Information Technology (42.7%)
3,625,000		Advanced Energy Industries, Inc.*
		2.500%, 09/15/28			3,757,095
		Akamai Technologies, Inc.
7,250,000		1.125%, 02/15/29*µ			8,059,535
3,750,000		0.375%, 09/01/27			4,296,413
7,750,000		Bentley Systems, Inc.µ
		0.125%, 01/15/26			7,600,735
6,500,000		BILL Holdings, Inc.µ
		0.000%, 12/01/25			6,093,815
3,000,000		Camtek, Ltd.*
		0.000%, 12/01/26			4,285,470
7,000,000		Confluent, Inc.µ
		0.000%, 01/15/27			5,862,010
8,250,000		CyberArk Software, Ltd.
		0.000%, 11/15/24			12,414,270
4,224,000		Datadog, Inc.
		0.125%, 06/15/25			5,978,058
5,250,000		DigitalOcean Holdings, Inc.µ
		0.000%, 12/01/26			4,329,203
7,927,000		Enphase Energy, Inc.µ
		0.000%, 03/01/26			7,120,348
1,750,000		Five9, Inc.µ
		0.500%, 06/01/25			1,682,415

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
1,750,000		MongoDB, Inc.
		0.250%, 01/15/26		$	3,399,253
		NCL Corp., Ltd.
5,250,000		1.125%, 02/15/27µ			4,673,182
4,000,000		2.500%, 02/15/27µ			3,663,680
2,750,000		5.375%, 08/01/25			3,316,005
5,500,000		Nutanix, Inc.
		0.250%, 10/01/27			6,314,715
		Okta, Inc.µ
6,500,000		0.125%, 09/01/25			6,006,000
3,500,000		0.375%, 06/15/26			3,112,375
15,000,000		ON Semiconductor Corp.*µ
		0.500%, 03/01/29			14,569,500
4,750,000		Palo Alto Networks, Inc.
		0.375%, 06/01/25			16,159,405
6,500,000		Rapid7, Inc.
		1.250%, 03/15/29			7,116,785
9,750,000		Repay Holdings Corp.*µ
		0.000%, 02/01/26			8,289,060
3,500,000		Seagate HDD Cayman*^
		3.500%, 06/01/28			4,214,945
12,000,000		Shift4 Payments, Inc.
		0.000%, 12/15/25			13,239,960
5,800,000		SK Hynix, Inc.
		1.750%, 04/11/30			7,647,474
8,500,000		Tyler Technologies, Inc.
		0.250%, 03/15/26			8,627,075
12,500,000		Unity Software, Inc.µ
		0.000%, 11/15/26			10,398,375
4,500,000		Western Digital Corp.*µ
		3.000%, 11/15/28			5,845,230
5,500,000		Wix.com, Ltd.
		0.000%, 08/15/25			5,032,060
		Wolfspeed, Inc.
7,750,000		1.875%, 12/01/29			4,469,503
4,469,000		0.250%, 02/15/28			2,647,167
3,500,000		Workiva, Inc.*µ
		1.250%, 08/15/28			3,372,005
3,750,000		Zscaler, Inc.
		0.125%, 07/01/25			5,969,025
					219,562,146
		Materials (2.4%)
1,250,000		ATI, Inc.
		3.500%, 06/15/25			3,333,563
3,000,000		Ivanhoe Mines, Ltd.*
		2.500%, 04/15/26			4,477,800
5,225,000		MP Materials Corp.*µ
		0.250%, 04/01/26			4,488,118
					12,299,481
		Other (0.0%)
135,000		Multiplan Corp.*µ
		6.000%, 10/15/27			94,557
		Real Estate (0.9%)
5,250,000		Pebblebrook Hotel Trustµ
		1.750%, 12/15/26			4,709,985
		Utilities (5.7%)
3,750,000		CMS Energy Corp.*
		3.375%, 05/01/28			3,678,938
5,750,000		PG&E Corp.*µ
		4.250%, 12/01/27			5,861,492
13,250,000		PPL Capital Funding, Inc.*^
		2.875%, 03/15/28			12,641,957
7,000,000		Southern Company*
		3.875%, 12/15/25			6,973,750
					29,156,137
		Total Convertible Bonds (Cost $695,181,112)			671,714,478
Bank Loans (2.5%) ¡
		Airlines (0.1%)
191,250		American Airlines, Inc.‡
		10.329%, 04/20/28
		3 mo. SOFR + 4.75%			196,257
189,000		Mileage Plus Holdings, LLC‡
		10.770%, 06/21/27
		3 mo. SOFR + 5.25%			195,044
					391,301
		Communication Services (0.1%)
34,111		Clear Channel Outdoor Holdings, Inc.‡
		9.074%, 08/21/26
		3 mo. SOFR + 3.50%			33,773
220,000		DirecTV Financing, LLC!
		0.000%, 08/02/29			220,184
420,000		Entercom Media Corp.‡
		8.145%, 11/18/24
		3 mo. SOFR + 2.50%			235,824
140,000		Telesat Canada‡
		8.400%, 12/07/26
		3 mo. SOFR + 2.75%			85,942
					575,723
		Consumer Discretionary (0.5%)
206,400		American Axle & Manufacturing, Inc.‡
		8.936%, 12/13/29
		1 mo. SOFR + 3.50%			206,788
263,013		Caesars Entertainment, Inc.‡
		8.663%, 02/06/30
		3 mo. SOFR + 3.25%			263,223
304,224		Carnival Corp.‡
		8.697%, 10/18/28
		1 mo. SOFR + 3.25%			304,651
263,675		Carnival Corp.‡
		8.336%, 08/08/27
		1 mo. SOFR + 3.00%			264,137
263,013		Hanesbrands, Inc.‡
		9.083%, 03/08/30
		1 mo. SOFR + 3.75%			262,026
153,526		Life Time Fitness, Inc.‡
		9.824%, 01/15/26
		3 mo. SOFR + 4.25%			154,601
160,732		Petco Health & Wellness Company, Inc.‡
		8.860%, 03/03/28
		3 mo. SOFR + 3.25%			151,307
550,936		PetSmart, Inc.‡
		9.183%, 02/11/28
		1 mo. SOFR + 3.75%			549,159
172,141		TKC Holdings, Inc.‡
		10.947%, 05/15/28
		1 mo. SOFR + 5.50%			166,933

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
264,838		Windsor Holdings III, LLC‡
		9.848%, 08/01/30
		1 mo. SOFR + 4.50%		$	265,537
					2,588,362
		Consumer Staples (0.2%)
558,106		Amneal Pharmaceuticals, LLC‡
		10.833%, 05/04/28
		1 mo. SOFR + 5.50%			555,316
373,246		Jazz Financing Lux Sarl‡
		8.447%, 05/05/28
		1 mo. SOFR + 3.00%			373,479
275,000		Star Parent, Inc.‡
		9.348%, 09/27/30
		3 mo. SOFR + 4.00%			268,984
120,336		United Natural Foods, Inc.‡
		8.697%, 10/22/25
		1 mo. SOFR + 3.25%			120,255
					1,318,034
		Energy (0.1%)
210,000		Buckeye Partners, LP‡
		7.833%, 11/22/30
		1 mo. SOFR + 2.50%			210,175
125,000		New Fortress Energy, Inc.‡
		10.317%, 10/27/28
		3 mo. SOFR + 5.00%			125,250
337,799		Par Petroleum, LLC‡
		9.738%, 02/28/30
		3 mo. SOFR + 4.25%			338,095
					673,520
		Financials (0.4%)
65,000		Advisor Group, Inc.‡
		9.833%, 08/17/28
		1 mo. SOFR + 4.50%			65,020
216,061		Alliant Holdings Intermediate LLC‡
		8.833%, 11/06/30
		1 mo. SOFR + 3.50%			216,757
203,976		Amynta Agency Borrower, Inc.‡
		9.583%, 02/28/28
		1 mo. SOFR + 4.25%			204,304
271,545		AssuredPartners, Inc.‡
		8.833%, 02/12/27
		1 mo. SOFR + 3.50%			270,979
204,488		Avolon TLB Borrower 1, LLC‡
		7.337%, 06/22/28
		1 mo. SOFR + 2.00%			204,675
150,000		Broadstreet Partners, Inc.‡
		9.083%, 01/27/29
		1 mo. SOFR + 3.75%			150,094
260,000		HUB International, Ltd.!
		0.000%, 06/20/30			260,447
195,000		Iron Mountain, Inc.‡
		7.569%, 01/31/31
		3 mo. SOFR + 2.25%			194,208
350,197		VFH Parent, LLC‡
		8.433%, 01/13/29
		1 mo. SOFR + 3.00%			350,022
					1,916,506
		Health Care (0.2%)
132,143		Icon Luxembourg Sarl‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			132,431
282,353		Padagis, LLC‡
		10.341%, 07/06/28
		3 mo. SOFR + 4.75%			273,884
32,923		PRA Health Sciences, Inc.‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			32,995
676,725		Team Health Holdings, Inc.‡
		10.563%,
		3 mo. SOFR + 5.25%			565,912
1,935		Team Health Holdings, Inc.‡
		10.583%, 03/02/27
		1 mo. SOFR + 5.25%			1,618
					1,006,840
		Industrials (0.3%)
136,500		ACProducts, Inc.‡
		9.860%, 05/17/28
		3 mo. SOFR + 4.25%			118,430
128,500		ACProducts, Inc.!
		0.000%, 05/17/28			111,489
167,450		Air Canada‡
		9.139%, 08/11/28
		3 mo. SOFR + 3.50%			167,829
251,781		ChampionX Corp.‡
		8.187%, 06/07/29
		1 mo. SOFR + 2.75%			252,883
177,336		Emrld Borrower, LP‡
		8.313%, 05/31/30
		1 mo. SOFR + 3.00%			177,591
256,100		Light and Wonder International, Inc.‡
		8.083%, 04/14/29
		1 mo. SOFR + 3.00%			256,100
270,000		TransDigm, Inc.‡
		8.598%, 02/14/31
		3 mo. SOFR + 3.25%			270,649
263,170		United Airlines, Inc.‡
		9.201%, 04/21/28
		1 mo. SOFR + 3.75%			264,014
					1,618,985
		Information Technology (0.2%)
369,559		Banff Merger Sub, Inc.‡
		9.583%, 12/29/28
		1 mo. SOFR + 4.25%			370,483
204,988		Camelot US Acquisition, LLC‡
		8.337%, 10/30/26
		1 mo. SOFR + 3.00%			205,090
249,513		Central Parent, Inc.‡
		9.348%, 07/06/29
		3 mo. SOFR + 4.00%			250,292
237,467		II-VI, Inc.‡
		8.087%, 07/02/29
		1 mo. SOFR + 2.75%			236,814
					1,062,679
		Materials (0.3%)
199,500		Chemours Company‡
		8.833%, 08/18/28
		1 mo. SOFR + 3.50%			199,301

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
273,625		Ineos US Finance, LLC‡
		8.837%, 02/18/30
		1 mo. SOFR + 3.50%		$	270,974
196,112		Innophos, Inc.‡
		8.697%, 02/05/27
		1 mo. SOFR + 3.25%			193,865
333,325		LSF11 A5 Holdco, LLC‡
		9.683%, 10/15/28
		1 mo. SOFR + 4.25%			333,743
193,816		Trinseo Materials Operating SCA‡
		8.150%, 05/03/28
		3 mo. SOFR + 2.50%			148,819
252,763		W.R. Grace & Co.-Conn.‡
		9.360%, 09/22/28
		3 mo. SOFR + 3.75%			253,373
					1,400,075
		Special Purpose Acquisition Companies (0.1%)
137,900		Clydesdale Acquisition Holdings, Inc.‡
		9.108%, 04/13/29
		1 mo. SOFR + 3.67%			137,188
63,863		Fertitta Entertainment, LLC‡
		9.333%, 01/27/29
		1 mo. SOFR + 4.00%			63,764
256,750		Patagonia Holdco, LLC‡
		11.116%, 08/01/29
		3 mo. SOFR + 5.75%			236,082
					437,034
		Total Bank Loans (Cost $13,238,072)			12,989,059

 

NUMBER OF
SHARES				VALUE
Convertible Preferred Stocks (4.3%)
		Energy (0.0%)
7		Gulfport Energy Corp.#
		10.000%, 03/04/24
		15.000% PIK rate			64,750
		Financials (2.5%)
72,795		Apollo Global Management, Inc.~
		6.750%, 07/31/26			4,252,684
7,055		Bank of America Corp.~‡‡
		7.250%			8,591,931
					12,844,615
		Industrials (0.7%)
65,985		Chart Industries, Inc.~
		6.750%, 12/15/25			3,287,373
		Utilities (1.1%)
156,300		NextEra Energy, Inc.^~
		6.926%, 09/01/25			5,815,923
		Total Convertible Preferred Stocks (Cost $24,915,213)			22,012,661
Common Stocks (0.2%)
		Communication Services (0.0%)
5,620		Altice USA, Inc. - Class A#			13,713
1,888		Cumulus Media, Inc. - Class Aµ#			8,685
					22,398
		Consumer Staples (0.0%)
1,926		Mallinckrodt, PLC#			73,669
		Energy (0.2%)
380		Chesapeake Energy Corp.µ			29,302
18,535		Energy Transfer, LP			265,050
11,035		Enterprise Products Partners, LP			295,297
1,881		EP Energy Corp.#&			5,643
8		Gulfport Energy Corp.#			1,015
2,374		ONEOK, Inc.^			162,026
					758,333
		Special Purpose Acquisition Company (0.0%)
3,168		Intelsat Emergence, SA#&			86,328
		Total Common Stocks (Cost $1,223,701)			940,728
Preferred Stocks (0.2%)
		Communication Services (0.0%)
		United States Cellular Corp.µ
3,265		5.500%, 06/01/70			59,913
3,130		5.500%, 03/01/70			57,936
					117,849
		Consumer Discretionary (0.1%)
1,722		Guitar Center, Inc.#&			141,204
		Energy (0.1%)
8,160		NuStar Energy, LP‡
		11.282%,
		3 mo. USD LIBOR + 5.64%			209,712
2,000		NuStar Energy, LP‡
		12.405%, 03/01/24
		3 mo. SOFR + 7.03%			51,640
12,000		NuStar Logistics, LP‡~
		12.310%, 01/15/43
		3 mo. SOFR + 6.98%			310,320
					571,672
		Total Preferred Stocks (Cost $840,192)			830,725
Warrants (0.0%) #
		Energy (0.0%)
13,522		Mcdermott International, Ltd.&
		06/30/27, Strike $15.98			2
12,170		Mcdermott International, Ltd.&
		06/30/27, Strike $12.33			1
		TOTAL WARRANTS (Cost $5,195)			3

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
Purchased Option (0.1%) #
		Information Technology (0.1%)
325		Zscaler, Inc.
7,659,275		Put, 06/21/24, Strike $200.00
		(Cost $443,046)		$	334,750
TOTAL INVESTMENTS (154.3%) (Cost $810,883,917)					792,683,357
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-17.9%)					(92,000,000	)
LIABILITIES, LESS OTHER ASSETS (-36.4%)					(186,980,920	)
NET ASSETS (100.0%)				$	513,702,437

 

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 Funds. 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 $339,836,299.
^	Security, or portion of security, is on loan.
@	In default status and considered non-income producing.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.
¡	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.
#	Non-income producing security.
~	Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options. The aggregate value of such securities is $4,100,438.
‡‡	Perpetual maturity.
&	Illiquid 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

 

 

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Securities		$	—			$	197,835			$	—			$	197,835
Corporate Bonds			—				83,663,118				—				83,663,118
Convertible Bonds			—				671,714,478				—				671,714,478
Bank Loans			—				12,989,059				—				12,989,059
Convertible Preferred Stocks			21,947,911				64,750				—				22,012,661
Common Stocks			774,073				166,655				—				940,728
Preferred Stocks			689,521				141,204				—				830,725
Warrants			—				3				—				3
Purchased Options			334,750				—				—				334,750
Total		$	23,746,255			$	768,937,102			$	—			$	792,683,357

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
Asset Backed Security (0.0%)
		Other (0.0%)
170,000		SVC ABS, LLC Series 2023-1A, Class C*~
		6.700%, 02/20/53
		(Cost $157,140)		$	156,428
Corporate Bonds (16.3%)
		Airlines (0.2%)
198,857		Alaska Airlines Pass Through Trust Series 2020-1, Class A*
		4.800%, 02/15/29			193,035
96,284		Alaska Airlines Pass Through Trust Series 2020-1, Class B*
		8.000%, 02/15/27			97,278
222,305		American Airlines Pass Through Trust Series 2021-1, Class B
		3.950%, 01/11/32			198,334
126,750		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
		5.500%, 04/20/26			125,600
212,209		British Airways Pass Through Trust Series 2021-1, Class B*
		3.900%, 03/15/33			192,539
168,998		JetBlue Pass Through Trust Series 2020-1, Class B
		7.750%, 05/15/30			170,455
					977,241
		Communication Services (1.6%)
250,000		Altice France, SA*
		5.500%, 10/15/29			184,653
260,000		APi Group DE, Inc.*
		4.750%, 10/15/29			243,469
225,000		Ashtead Capital, Inc.*
		2.450%, 08/12/31			183,355
		Audacy Capital Corp.*@
273,000		6.750%, 03/31/29			11,021
100,000		6.500%, 05/01/27			4,267
195,000		Cincinnati Bell Telephone Company, LLC
		6.300%, 12/01/28			172,955
205,000		Clear Channel Outdoor Holdings, Inc.*
		9.000%, 09/15/28			214,223
304,000		Consolidated Communications, Inc.*
		6.500%, 10/01/28			264,878
		CSC Holdings, LLC*
400,000		4.625%, 12/01/30			207,000
335,000		5.375%, 02/01/28			288,338
300,000		5.750%, 01/15/30			159,309
200,000		5.500%, 04/15/27			179,822
200,000		4.500%, 11/15/31			143,734
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
180,000		6.625%, 08/15/27			12,317
151,000		5.375%, 08/15/26			10,658
277,000		Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
		5.875%, 08/15/27			263,391
225,000		Frontier California, Inc.
		6.750%, 05/15/27			217,613
		Frontier Communications Holdings, LLC*
140,000		5.000%, 05/01/28			129,357
54,000		8.750%, 05/15/30			55,334
242,000		Frontier Florida, LLC@
		6.860%, 02/01/28			233,194
330,000		Frontier North, Inc.@
		6.730%, 02/15/28			316,569
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
195,000		3.500%, 03/01/29			176,615
69,000		5.250%, 12/01/27			67,791
		iHeartCommunications, Inc.
135,000		8.375%, 05/01/27			84,455
80,000		5.250%, 08/15/27*			62,202
265,000		LCPR Senior Secured Financing DAC*
		6.750%, 10/15/27			256,971
167,354		Ligado Networks, LLC*
		15.500%, 11/01/23
		15.500% PIK rate			28,818
		Lumen Technologies, Inc.
160,000		7.600%, 09/15/39			42,581
100,000		4.000%, 02/15/27*			52,942
52,000		7.650%, 03/15/42			14,338
109,000		Match Group Holdings II, LLC*
		3.625%, 10/01/31			93,366
175,000		Nexstar Media, Inc.*
		5.625%, 07/15/27			170,370
205,000		Paramount Global
		4.900%, 08/15/44			162,176
73,000		Qwest Corp.
		7.250%, 09/15/25			71,558
		Scripps Escrow II, Inc.*
111,000		3.875%, 01/15/29			96,556
56,000		5.375%, 01/15/31			43,055
210,000		Scripps Escrow, Inc.*
		5.875%, 07/15/27			189,525
		Sirius XM Radio, Inc.*
225,000		5.500%, 07/01/29			214,155
217,000		4.000%, 07/15/28			197,162
110,000		3.125%, 09/01/26			102,876
54,000		3.875%, 09/01/31			45,092
202,000		Spanish Broadcasting System, Inc.*
		9.750%, 03/01/26			107,422
245,000		Stagwell Global, LLC*
		5.625%, 08/15/29			224,917
219,000		Telesat Canada / Telesat, LLC*
		4.875%, 06/01/27			129,860
85,000		Time Warner Cable, LLC
		7.300%, 07/01/38			89,212
245,000		United States Cellular Corp.
		6.700%, 12/15/33			252,612
160,000		Univision Communications, Inc.*
		8.000%, 08/15/28			162,840
105,000		Viasat, Inc.*
		5.625%, 04/15/27			98,575
					6,733,499

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Consumer Discretionary (3.2%)
265,000		Abercrombie & Fitch Management Company*
		8.750%, 07/15/25		$	269,847
210,000		Adams Homes, Inc.*
		9.250%, 10/15/28			215,233
260,000		Adient Global Holdings Company*^
		8.250%, 04/15/31			274,851
175,000		American Axle & Manufacturing, Inc.
		6.875%, 07/01/28			171,225
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
190,000		4.625%, 08/01/29			173,128
139,000		6.625%, 01/15/28			137,896
267,000		At Home Group, Inc.*
		4.875%, 07/15/28			118,054
		Bath & Body Works, Inc.
292,000		6.694%, 01/15/27			296,868
165,000		6.875%, 11/01/35			165,094
		Caesars Entertainment, Inc.*
136,000		4.625%, 10/15/29			124,311
112,000		8.125%, 07/01/27			115,036
		Carnival Corp.*
108,000		7.625%, 03/01/26			109,752
105,000		4.000%, 08/01/28			97,392
13,000		7.000%, 08/15/29			13,537
		Carvana Company*
44,000		14.000%, 06/01/31			39,278
37,000		13.000%, 06/01/30			32,991
25,000		12.000%, 12/01/28			22,202
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
470,000		5.125%, 05/01/27			453,649
250,000		6.375%, 09/01/29			243,532
245,000		4.750%, 03/01/30			217,839
215,000		4.250%, 02/01/31			181,484
125,000		5.000%, 02/01/28			118,087
125,000		4.500%, 08/15/30			108,650
108,000		4.750%, 02/01/32			92,741
108,000		CDI Escrow Issuer, Inc.*
		5.750%, 04/01/30			104,612
137,000		Cedar Fair, LP
		5.250%, 07/15/29			131,132
105,000		Churchill Downs, Inc.*
		6.750%, 05/01/31			106,507
		Dana, Inc.
175,000		4.250%, 09/01/30			153,186
164,000		4.500%, 02/15/32			141,237
		DISH DBS Corp.
220,000		5.125%, 06/01/29			82,042
170,000		5.250%, 12/01/26*			134,247
133,000		7.375%, 07/01/28			58,863
129,000		7.750%, 07/01/26			76,337
100,000		5.750%, 12/01/28*			67,457
220,000		DISH Network Corp.*
		11.750%, 11/15/27			229,775
200,000		Empire Resorts, Inc.*
		7.750%, 11/01/26			185,478
238,000		Everi Holdings, Inc.*
		5.000%, 07/15/29			218,996
220,000		Ford Motor Company^
		6.100%, 08/19/32			220,143
		Ford Motor Credit Company, LLC
350,000		4.000%, 11/13/30			312,357
300,000		5.113%, 05/03/29			291,591
275,000		7.200%, 06/10/30			292,471
200,000		7.350%, 11/04/27			210,390
82,000		Gap, Inc.*
		3.875%, 10/01/31			67,766
110,000		General Motors Company
		5.200%, 04/01/45			99,813
		goeasy, Ltd.*
365,000		9.250%, 12/01/28			389,013
208,000		4.375%, 05/01/26			199,035
110,000		Goodyear Tire & Rubber Company^
		5.250%, 07/15/31			100,221
93,000		Group 1 Automotive, Inc.*
		4.000%, 08/15/28			85,881
226,000		Guitar Center, Inc.*&
		8.500%, 01/15/26			200,810
145,000		International Game Technology, PLC*
		6.250%, 01/15/27			145,963
57,985		JetBlue Pass Through Trust Series 2019-2, Class B
		8.000%, 11/15/27			58,461
180,000		Kohl's Corp.
		5.550%, 07/17/45			122,836
210,000		LCM Investments Holdings II, LLC*
		8.250%, 08/01/31			215,636
220,000		Liberty Interactive, LLC
		8.250%, 02/01/30			117,537
204,000		Life Time, Inc.*
		8.000%, 04/15/26			206,362
105,000		Light & Wonder International, Inc.*
		7.500%, 09/01/31			109,419
80,000		Lindblad Expeditions Holdings, Inc.*
		9.000%, 05/15/28			83,208
139,000		Lindblad Expeditions, LLC*
		6.750%, 02/15/27			139,106
140,000		M/I Homes, Inc.
		3.950%, 02/15/30			125,560
		Macy's Retail Holdings, LLC
261,000		6.700%, 07/15/34*			219,645
215,000		4.300%, 02/15/43			163,247
287,000		Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
		4.875%, 05/01/29			266,457
125,000		Newell Brands, Inc.
		5.200%, 04/01/26			121,730
		Nordstrom, Inc.
110,000		5.000%, 01/15/44			79,485
105,000		4.250%, 08/01/31			87,669
327,000		Patrick Industries, Inc.*
		4.750%, 05/01/29			301,595
250,000		PENN Entertainment, Inc.*^
		4.125%, 07/01/29			215,042
250,000		PetSmart, Inc. / PetSmart Finance Corp.*
		4.750%, 02/15/28			233,690
305,000		Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*
		5.625%, 09/01/29			229,897
110,000		QVC, Inc.
		5.450%, 08/15/34			73,101
105,000		Raising Cane's Restaurants, LLC*
		9.375%, 05/01/29			112,608

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
448,000		Rite Aid Corp.*@
		8.000%, 11/15/26		$	340,341
105,000		Royal Caribbean Cruises, Ltd.*
		7.250%, 01/15/30			109,492
320,000		Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
		4.625%, 03/01/29			275,885
320,000		Six Flags Entertainment Corp.*
		7.250%, 05/15/31			326,778
241,000		Sonic Automotive, Inc.*^
		4.625%, 11/15/29			218,300
131,000		Speedway Motorsports, LLC / Speedway Funding II, Inc.*
		4.875%, 11/01/27			124,361
455,000		Station Casinos, LLC*
		4.500%, 02/15/28			429,352
53,000		Stl Holding Company, LLC*
		8.750%, 02/15/29			53,000
128,000		Taylor Morrison Communities, Inc.*
		5.750%, 01/15/28			127,574
55,000		Viking Cruises, Ltd.*
		9.125%, 07/15/31			58,934
260,000		Vista Outdoor, Inc.*
		4.500%, 03/15/29			255,666
210,000		ZF North America Capital, Inc.*
		7.125%, 04/14/30			221,647
					13,921,621
		Consumer Staples (0.8%)
224,000		1375209 B.C., Ltd.*^
		9.000%, 01/30/28			217,591
310,000		Arrow Bidco, LLC*
		10.750%, 06/15/25			321,163
205,000		B&G Foods, Inc.*
		8.000%, 09/15/28			214,043
251,000		Central Garden & Pet Company*
		4.125%, 04/30/31			222,283
245,000		Edgewell Personal Care Company*
		4.125%, 04/01/29			224,297
		Energizer Holdings, Inc.*
307,000		4.375%, 03/31/29			278,001
54,000		6.500%, 12/31/27			53,827
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
320,000		5.500%, 01/15/30			313,274
135,000		5.125%, 02/01/28			133,951
80,000		5.750%, 04/01/33			79,328
138,952		Mallinckrodt International Finance SA / Mallinckrodt CB, LLC*
		14.750%, 11/14/28			151,523
174,000		New Albertsons, LP
		7.750%, 06/15/26			178,595
217,000		Performance Food Group, Inc.*
		4.250%, 08/01/29			199,011
165,000		Pilgrim's Pride Corp.
		4.250%, 04/15/31			148,865
110,000		Post Holdings, Inc.*
		5.750%, 03/01/27			109,667
209,000		Prestige Brands, Inc.*
		3.750%, 04/01/31			182,200
195,000		United Natural Foods, Inc.*^
		6.750%, 10/15/28			164,092
342,000		Vector Group, Ltd.*
		5.750%, 02/01/29			315,868
					3,507,579
		Energy (2.0%)
106,000		Antero Resources Corp.*
		5.375%, 03/01/30			101,242
223,000		Apache Corp.
		5.100%, 09/01/40			191,780
135,000		Buckeye Partners, LP
		5.850%, 11/15/43			111,510
305,000		Callon Petroleum Company*
		7.500%, 06/15/30			321,519
112,000		Cheniere Energy, Inc.
		4.625%, 10/15/28			108,530
167,000		Chesapeake Energy Corp.*
		6.750%, 04/15/29			169,041
297,000		Civitas Resources, Inc.*
		8.750%, 07/01/31			316,985
		Continental Resources, Inc.*
165,000		2.875%, 04/01/32			134,779
100,000		5.750%, 01/15/31			99,566
169,000		DT Midstream, Inc.*
		4.125%, 06/15/29			155,411
		Earthstone Energy Holdings, LLC*
207,000		8.000%, 04/15/27			214,526
80,000		9.875%, 07/15/31			88,900
120,000		Enbridge, Inc.‡
		7.375%, 01/15/83
		5 year CMT + 3.71%			120,211
		Energy Transfer, LP‡
320,000		8.586%, 11/01/66
		3 mo. SOFR + 3.28%			285,859
162,000		6.500%, 11/15/26
		5 year CMT + 5.69%			156,683
		EnLink Midstream Partners, LP
240,000		9.756%, 03/04/24‡
		3 mo. SOFR + 4.37%			226,867
224,000		4.850%, 07/15/26			220,114
132,000		Enlink Midstream, LLC*
		6.500%, 09/01/30			135,254
355,000		EQM Midstream Partners, LP*
		7.500%, 06/01/27			365,345
		Genesis Energy, LP / Genesis Energy Finance Corp.
138,000		8.875%, 04/15/30			144,471
88,000		6.250%, 05/15/26			87,658
		Gulfport Energy Corp.
205,000		8.000%, 05/17/26*			207,009
65,902		8.000%, 05/17/26			66,548
305,000		Hilcorp Energy I, LP / Hilcorp Finance Company*
		6.000%, 04/15/30			296,359
163,000		Howard Midstream Energy Partners, LLC*
		6.750%, 01/15/27			163,502
92,000		Kodiak Gas Services, LLC*
		7.250%, 02/15/29			93,084
217,000		Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
		6.000%, 08/01/26			214,619
		Moss Creek Resources Holdings, Inc.*
135,000		10.500%, 05/15/27			139,043
90,000		7.500%, 01/15/26			89,715

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Nabors Industries, Inc.*
160,000		7.375%, 05/15/27		$	158,302
80,000		9.125%, 01/31/30			81,631
160,000		Nabors Industries, Ltd.*
		7.500%, 01/15/28			146,598
221,000		New Fortress Energy, Inc.*
		6.750%, 09/15/25			218,421
158,000		Oceaneering International, Inc.
		6.000%, 02/01/28			154,902
230,000		Parkland Corp.*
		5.875%, 07/15/27			228,330
112,000		Patterson-UTI Energy, Inc.
		5.150%, 11/15/29			108,223
52,000		Permian Resources Operating LLC*
		7.000%, 01/15/32			53,731
270,000		Plains All American Pipeline, LP‡
		9.751%, 03/04/24
		3 mo. SOFR + 4.37%			267,519
305,000		Rockcliff Energy II, LLC*
		5.500%, 10/15/29			284,205
109,000		Southwestern Energy Company
		4.750%, 02/01/32			101,040
301,150		Transocean, Inc.*
		8.750%, 02/15/30			315,096
		Venture Global Calcasieu Pass, LLC*
130,000		6.250%, 01/15/30			130,360
55,000		4.125%, 08/15/31			48,723
55,000		3.875%, 08/15/29			49,163
		Venture Global LNG, Inc.*
265,000		8.375%, 06/01/31			268,506
155,000		8.125%, 06/01/28			156,975
105,000		9.875%, 02/01/32			110,457
105,000		9.500%, 02/01/29			111,637
		Vital Energy, Inc.
134,000		9.750%, 10/15/30			142,480
100,000		7.750%, 07/31/29*			98,793
190,000		VOC Escrow, Ltd.*
		5.000%, 02/15/28			181,995
262,000		Weatherford International, Ltd.*
		8.625%, 04/30/30			268,327
					8,711,544
		Financials (2.6%)
340,000		Acrisure, LLC / Acrisure Finance, Inc.*
		8.250%, 02/01/29			341,238
323,000		Aethon United BR, LP / Aethon United Finance Corp.*
		8.250%, 02/15/26			322,209
153,000		AG Issuer, LLC*
		6.250%, 03/01/28			151,251
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
370,000		6.750%, 10/15/27			362,448
30,000		7.000%, 01/15/31			30,378
		Ally Financial, Inc.
245,000		4.700%, 05/15/26‡
		5 year CMT + 3.87%			199,050
100,000		4.700%, 05/15/28‡
		7 year CMT + 3.48%			76,492
90,000		8.000%, 11/01/31			99,672
439,000		AmWINS Group, Inc.*
		4.875%, 06/30/29			410,329
168,000		Aviation Capital Group, LLC*
		3.500%, 11/01/27			156,633
329,000		BroadStreet Partners, Inc.*
		5.875%, 04/15/29			312,366
255,000		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
		4.500%, 04/01/27			226,144
200,000		Burford Capital Global Financial, LLC*
		6.875%, 04/15/30			195,096
		Credit Acceptance Corp.
205,000		6.625%, 03/15/26^			205,271
140,000		9.250%, 12/15/28*			147,524
210,000		Cushman & Wakefield U.S. Borrower LLC*^
		8.875%, 09/01/31			220,567
283,000		Enact Holdings, Inc.*
		6.500%, 08/15/25			282,536
235,000		GGAM Finance, Ltd.*
		8.000%, 02/15/27			242,527
278,000		Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
		3.750%, 12/15/27			237,737
225,000		GTCR W-2 Merger Sub, LLC*
		7.500%, 01/15/31			234,614
120,000		HAT Holdings I LLC / HAT Holdings II LLC*
		8.000%, 06/15/27			124,470
		HUB International, Ltd.*
324,000		5.625%, 12/01/29			305,914
105,000		7.375%, 01/31/32			107,472
164,000		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
		4.375%, 02/01/29			137,224
275,000		ILFC E-Capital Trust II*‡
		7.436%, 12/21/65
		3 mo. SOFR + 2.06%			217,971
435,000		Iron Mountain, Inc.*
		5.250%, 03/15/28			422,176
600,000		Jefferies Finance, LLC / JFIN Co-Issuer Corp.*
		5.000%, 08/15/28			541,740
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
387,000		5.250%, 10/01/25			380,827
224,000		4.750%, 06/15/29			200,628
205,000		LD Holdings Group, LLC*
		6.125%, 04/01/28			167,276
		Level 3 Financing, Inc.*
235,000		4.250%, 07/01/28			79,019
105,000		4.625%, 09/15/27			55,434
162,000		LPL Holdings, Inc.*
		4.000%, 03/15/29			149,401
210,000		Macquarie Airfinance Holdings, Ltd.*
		8.125%, 03/30/29			218,077
344,000		MetLife, Inc.
		6.400%, 12/15/66			351,458
300,000		Nationstar Mortgage Holdings, Inc.*
		5.500%, 08/15/28			285,807
		Navient Corp.
228,000		5.000%, 03/15/27			217,605
115,000		4.875%, 03/15/28			104,599

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
150,000		Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
		4.500%, 09/30/28		$	127,647
105,000		Newmark Group, Inc.*
		7.500%, 01/12/29			107,314
		OneMain Finance Corp.
150,000		3.875%, 09/15/28			131,823
145,000		9.000%, 01/15/29			152,853
108,000		7.125%, 03/15/26			109,534
110,000		Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
		5.875%, 10/01/28			107,699
341,000		PHH Mortgage Corp.*
		7.875%, 03/15/26			315,033
260,000		RHP Hotel Properties, LP / RHP Finance Corp.*
		4.500%, 02/15/29			241,886
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
100,000		3.875%, 03/01/31			87,883
100,000		3.625%, 03/01/29			89,253
50,000		2.875%, 10/15/26			46,404
227,000		StoneX Group, Inc.*
		8.625%, 06/15/25			229,595
		United Wholesale Mortgage, LLC*
258,000		5.500%, 04/15/29			243,985
105,000		5.750%, 06/15/27			103,203
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
110,000		6.500%, 02/15/29			77,627
105,000		10.500%, 02/15/28			106,853
250,000		VZ Secured Financing, BV*
		5.000%, 01/15/32			218,615
237,000		XHR, LP*
		6.375%, 08/15/25			237,391
					11,255,778
		Health Care (1.1%)
		Bausch Health Companies, Inc.*
398,000		11.000%, 09/30/28			273,557
81,000		6.125%, 02/01/27			51,410
78,000		14.000%, 10/15/30			44,140
		CHS/Community Health Systems, Inc.*
435,000		6.125%, 04/01/30			288,161
127,000		6.875%, 04/15/29			87,663
114,000		8.000%, 03/15/26			112,327
105,000		10.875%, 01/15/32			110,316
27,000		5.250%, 05/15/30			22,443
		DaVita, Inc.*
258,000		3.750%, 02/15/31			212,829
233,000		4.625%, 06/01/30			206,329
		Embecta Corp.*
162,000		5.000%, 02/15/30			132,733
52,000		6.750%, 02/15/30			45,883
		Encompass Health Corp.
110,000		4.750%, 02/01/30			103,401
110,000		4.500%, 02/01/28			105,232
300,000		HCA, Inc.
		7.500%, 11/06/33			338,727
200,000		Jazz Securities DAC*
		4.375%, 01/15/29			185,032
		Medline Borrower, LP*
270,000		3.875%, 04/01/29			244,766
267,000		5.250%, 10/01/29			249,164
400,000		Organon & Company / Organon Foreign Debt Co-Issuer, BV*
		5.125%, 04/30/31			344,556
305,000		Team Health Holdings, Inc.*
		6.375%, 02/01/25			257,847
		Tenet Healthcare Corp.
430,000		6.250%, 02/01/27			429,162
295,000		6.875%, 11/15/31			304,092
		Teva Pharmaceutical Finance Netherlands III, BV
270,000		5.125%, 05/09/29^			260,612
200,000		4.750%, 05/09/27			193,500
100,000		3.150%, 10/01/26			93,358
					4,697,240
		Industrials (3.0%)
260,000		ACCO Brands Corp.*
		4.250%, 03/15/29			235,968
235,000		AerCap Holdings, NV^‡
		5.875%, 10/10/79
		5 year CMT + 4.54%			233,461
200,000		Air Lease Corp.‡
		4.125%, 12/15/26
		5 year CMT + 3.15%			169,512
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
365,000		4.625%, 01/15/27			354,353
155,000		5.875%, 02/15/28			154,921
195,000		Allegiant Travel Company*
		7.250%, 08/15/27			190,807
127,000		Arcosa, Inc.*
		4.375%, 04/15/29			119,189
475,000		ARD Finance, SA*
		6.500%, 06/30/27
		7.250% PIK rate			230,508
178,000		Beacon Roofing Supply, Inc.*
		4.125%, 05/15/29			161,400
		Bombardier, Inc.*
105,000		8.750%, 11/15/30			110,489
105,000		7.875%, 04/15/27			105,145
226,000		BWX Technologies, Inc.*
		4.125%, 04/15/29			209,751
215,000		Cascades, Inc. / Cascades USA, Inc.*
		5.375%, 01/15/28			210,997
56,000		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*
		4.750%, 10/20/28			55,121
282,000		Deluxe Corp.*
		8.000%, 06/01/29			254,048
213,000		Eco Material Technologies, Inc.*
		7.875%, 01/31/27			213,290
105,000		Emerald Debt Merger Sub, LLC*
		6.625%, 12/15/30			106,144
		EnerSys*
140,000		4.375%, 12/15/27			132,656
110,000		6.625%, 01/15/32			111,588
135,000		Graham Packaging Company, Inc.*
		7.125%, 08/15/28			121,300
		Graphic Packaging International, LLC*
102,000		3.500%, 03/01/29			92,254
85,000		4.750%, 07/15/27			82,812

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	236,000			Great Lakes Dredge & Dock Corp.*
				5.250%, 06/01/29		$	204,968
	516,000			H&E Equipment Services, Inc.*
				3.875%, 12/15/28			468,941
	269,000			Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
				5.750%, 01/20/26			252,994
	270,000			Herc Holdings, Inc.*
				5.500%, 07/15/27			265,386
	255,000			IEA Energy Services, LLC*
				6.625%, 08/15/29			240,001
				JELD-WEN, Inc.*
	154,000			4.625%, 12/15/25			150,615
	110,000			4.875%, 12/15/27^			105,057
	360,000			Ken Garff Automotive, LLC*
				4.875%, 09/15/28			336,416
	210,000			Knife River Holding Company*
				7.750%, 05/01/31			220,933
	55,000			MasTec, Inc.*
				4.500%, 08/15/28			51,679
	135,000			Moog, Inc.*
				4.250%, 12/15/27			126,581
	275,000			Newfold Digital Holdings Group, Inc.*
				6.000%, 02/15/29			208,301
	232,000			Novelis Corp.*
				4.750%, 01/30/30			215,465
	80,000			OI European Group, BV*
				4.750%, 02/15/30			74,122
	255,000			Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*
				4.000%, 10/15/27			238,081
				Sealed Air Corp.*
	163,000			6.125%, 02/01/28			163,890
	54,000			5.000%, 04/15/29			52,088
	50,000			Sealed Air Corp./Sealed Air Corp. U.S.*
				7.250%, 02/15/31			52,454
	210,000			Sensata Technologies, Inc.*
				3.750%, 02/15/31			182,935
				Sinclair Television Group, Inc.*
	167,000			4.125%, 12/01/30			129,198
	100,000			5.500%, 03/01/30			77,120
	225,000			Standard Industries, Inc.*
				5.000%, 02/15/27			218,864
	176,000			Stericycle, Inc.*
				3.875%, 01/15/29			160,234
	166,000			STL Holding Company, LLC*
				7.500%, 02/15/26			169,083
	55,000			Summit Materials LLC / Summit Materials Finance Corp.*
				7.250%, 01/15/31			57,206
				TransDigm, Inc.
	225,000			6.875%, 12/15/30*			231,401
	205,000			7.500%, 03/15/27			205,674
	155,000			6.750%, 08/15/28*			157,739
	89,000			6.250%, 03/15/26*			88,579
	80,000			7.125%, 12/01/31*			83,460
	215,000			Tronox, Inc.*
				4.625%, 03/15/29			190,077
	2,800,000			Uber Technologies, Inc.*
				8.000%, 11/01/26			2,852,220
	83,865			United Airlines Pass Through Trust Series 2019-2, Class B
				3.500%, 11/01/29			76,697
	217,000			Vertiv Group Corp.*
				4.125%, 11/15/28			202,107
	228,000			Wabash National Corp.*
				4.500%, 10/15/28			207,925
	170,000			Waste Pro USA, Inc.*
				5.500%, 02/15/26			165,191
				Williams Scotsman, Inc.*
	128,000			4.625%, 08/15/28			120,859
	105,000			7.375%, 10/01/31			110,096
							12,770,351
				Information Technology (0.7%)
	54,000			Booz Allen Hamilton, Inc.*
				4.000%, 07/01/29			50,723
	126,000			Coherent Corp.*
				5.000%, 12/15/29			118,015
	115,000			CommScope Technologies, LLC*
				6.000%, 06/15/25			91,529
	200,000			CommScope, Inc.*
				4.750%, 09/01/29			132,438
	110,000			Dell International, LLC / EMC Corp.
				6.020%, 06/15/26			112,427
	108,000			Dun & Bradstreet Corp.*^
				5.000%, 12/15/29			100,516
	93,000			Fair Isaac Corp.*
				4.000%, 06/15/28			86,694
	245,000			KBR, Inc.*
				4.750%, 09/30/28			226,042
				MPH Acquisition Holdings, LLC*
	245,000			5.750%, 11/01/28			195,076
	110,000			5.500%, 09/01/28			97,816
	105,000			NCL Corp., Ltd.*
				8.125%, 01/15/29			110,229
	113,000			NCR Voyix Corp.*
				5.125%, 04/15/29			106,409
	167,000			ON Semiconductor Corp.*
				3.875%, 09/01/28			153,323
				Open Text Corp.*
	139,000			3.875%, 02/15/28			129,219
	110,000			6.900%, 12/01/27			114,346
	81,000			3.875%, 12/01/29			73,150
	81,000			Open Text Holdings, Inc.*
				4.125%, 12/01/31			71,719
	206,000			Playtika Holding Corp.*
				4.250%, 03/15/29			178,744
	315,000			TTM Technologies, Inc.*
				4.000%, 03/01/29			285,066
				Twilio, Inc.
	150,000			3.625%, 03/15/29			135,628
	57,000			3.875%, 03/15/31			50,268
	79,000			UKG, Inc.*
				6.875%, 02/01/31			79,975
	240,000			Viavi Solutions, Inc.*
				3.750%, 10/01/29			209,198
	260,000			ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
				3.875%, 02/01/29			231,660
							3,140,210
				Materials (0.7%)
	130,000			ArcelorMittal, SA
				7.000%, 10/15/39			141,930

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	85,000			ATI, Inc.
				5.875%, 12/01/27		$	83,697
	55,000			Carpenter Technology Corp.
				7.625%, 03/15/30			56,917
	165,000			Chemours Company*
				4.625%, 11/15/29			144,446
	355,000			Clearwater Paper Corp.*
				4.750%, 08/15/28			333,341
	157,000			Cleveland-Cliffs, Inc.*
				6.750%, 04/15/30			158,447
				Commercial Metals Company
	108,000			4.125%, 01/15/30			98,844
	54,000			4.375%, 03/15/32			48,340
	250,000			Constellium, SE*
				3.750%, 04/15/29			225,395
	111,000			HB Fuller Company
				4.250%, 10/15/28			103,547
	215,000			JW Aluminum Continuous Cast Company*
				10.250%, 06/01/26			217,404
	190,000			Kaiser Aluminum Corp.*
				4.625%, 03/01/28			175,208
	58,000			LSF11 A5 HoldCo, LLC*
				6.625%, 10/15/29			49,450
				Mercer International, Inc.
	284,000			5.125%, 02/01/29			243,834
	107,000			12.875%, 10/01/28*			115,065
	200,000			OCI, NV*
				6.700%, 03/16/33			199,968
				Owens-Brockway Glass Container, Inc.*
	160,000			7.250%, 05/15/31			161,520
	115,000			6.625%, 05/13/27			115,143
	200,000			Silgan Holdings, Inc.
				4.125%, 02/01/28			188,424
	113,000			Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
				5.125%, 04/01/29			44,407
							2,905,327
				Other (0.0%)
				Gen Digital, Inc.*
	100,000			7.125%, 09/30/30^			103,773
	100,000			6.750%, 09/30/27			101,674
							205,447
				Real Estate (0.2%)
	174,000			EPR Properties
				3.750%, 08/15/29			155,159
				Forestar Group, Inc.*
	187,000			5.000%, 03/01/28			177,871
	110,000			3.850%, 05/15/26			104,618
	248,000			MIWD Holdco II, LLC / MIWD Finance Corp.*
				5.500%, 02/01/30			226,002
	105,000			Service Properties Trust
				5.250%, 02/15/26			101,751
							765,401
				Special Purpose Acquisition Companies (0.1%)
				Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
	220,000			6.750%, 01/15/30			198,042
	107,000			4.625%, 01/15/29			98,625
							296,667
				Utilities (0.1%)
	79,000			PPL Capital Funding, Inc.‡
				8.275%, 03/30/67
				3 mo. SOFR + 2.93%			75,809
				Vistra Corp.*‡
	105,000			7.000%, 12/15/26
				5 year CMT + 5.74%			102,501
	50,000			8.000%, 10/15/26
				5 year CMT + 6.93%			50,232
							228,542
				Total Corporate Bonds (Cost $68,938,450)			70,116,447
Convertible Bonds (33.0%)
				Communication Services (2.2%)
	325,000			Bharti Airtel, Ltd.*
				1.500%, 02/17/25			626,522
	209,000			Cable One, Inc.µ
				0.000%, 03/15/26			179,554
	20,000,000	JPY		CyberAgent, Inc.
				0.000%, 02/19/25			134,264
	2,185,000			Liberty Media Corp.-Liberty Formula One
				2.250%, 08/15/27			2,277,251
				Sea, Ltd.
	5,311,000			2.375%, 12/01/25			5,069,190
	604,000			0.250%, 09/15/26			509,341
	538,000			Snap, Inc.µ
				0.125%, 03/01/28			426,134
	157,000			Zillow Group, Inc.
				1.375%, 09/01/26			214,482
							9,436,738
				Consumer Discretionary (7.2%)
	203,000			Airbnb, Inc.µ
				0.000%, 03/15/26			184,547
	145,000			Booking Holdings, Inc.
				0.750%, 05/01/25			270,725
	353,000			Burlington Stores, Inc.
				2.250%, 04/15/25			380,096
	200,000,000	JPY		Daiwa House Ind Company, Ltd. 03/30/29			1,388,314
				DISH Network Corp.µ
	608,000			0.000%, 12/15/25			435,176
	213,000			2.375%, 03/15/24			208,836
	410,000			DraftKings Holdings, Inc.µ
				0.000%, 03/15/28			342,092
				Etsy, Inc.
	229,000			0.125%, 10/01/26			239,630
	161,000			0.125%, 09/01/27			133,530
	251,000			Farfetch, Ltd.
				3.750%, 05/01/27			5,540
				Flight Centre Travel Group, Ltd.
	2,600,000	AUD		2.500%, 11/17/27			2,025,026
	200,000	AUD		1.625%, 11/01/28			127,536
	11,210,000			Ford Motor Company~
				0.000%, 03/15/26			10,926,723
	2,740,000			IMAX Corp.µ
				0.500%, 04/01/26			2,439,778
	161,000			Liberty Broadband Corp.*
				3.125%, 03/31/53			158,084

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	214,000			Lucid Group, Inc.*
				1.250%, 12/15/26		$	85,089
	296,000			MakeMyTrip, Ltd.
				0.000%, 02/15/28			444,838
	725,000			Marriott Vacations Worldwide Corp.µ
				0.000%, 01/15/26			643,133
	400,000			Meituan
				0.000%, 04/27/28			347,288
	40,000,000	JPY		Mercari, Inc.
				0.000%, 07/14/28			210,471
	160,000			NIO, Inc.*
				4.625%, 10/15/30			124,200
				Ocado Group, PLCµ
	100,000	GBP		0.875%, 12/09/25			111,307
	100,000	GBP		0.750%, 01/18/27			98,156
				Rivian Automotive, Inc.*
	230,000			4.625%, 03/15/29			244,991
	145,000			3.625%, 10/15/30			132,832
	194,000			Royal Caribbean Cruises, Ltd.
				6.000%, 08/15/25			508,098
	40,000,000	JPY		Sanrio Company, Ltd.
				0.000%, 12/14/28			303,397
	100,000	EUR		Shop Apotheke Europe, NVµ
				0.000%, 01/21/28			101,628
	162,000			Stride, Inc.
				1.125%, 09/01/27			207,718
	17,000			Tesla, Inc.
				2.000%, 05/15/24			154,322
				Wayfair, Inc.
	318,000			0.625%, 10/01/25µ			290,986
	302,000			3.500%, 11/15/28*			407,159
	168,000			1.000%, 08/15/26µ			145,216
	1,900,000	GBP		WH Smith, PLCµ
				1.625%, 05/07/26			2,174,307
	1,272,000			Winnebago Industries, Inc.*
				3.250%, 01/15/30			1,308,913
	3,011,000			Wynn Macau, Ltd.*
				4.500%, 03/07/29			3,005,580
	5,000,000	HKD		Zhongsheng Group Holdings, Ltd.
				0.000%, 05/21/25			685,212
							31,000,474
				Consumer Staples (1.5%)
	2,500,000	EUR		Fomento Economico Mexicano SAB de CV
				2.625%, 02/24/26			2,707,452
	20,000,000	JPY		Nippn Corp.
				0.000%, 06/20/25			148,781
	4,975,000	CAD		Premium Brands Holdings Corp.
				4.200%, 09/30/27			3,432,970
							6,289,203
				Energy (1.6%)
	4,400,000	EUR		Eni S.p.A
				2.950%, 09/14/30			4,954,319
	1,650,000			Nabors Industries, Inc.*µ
				1.750%, 06/15/29			1,221,214
	306,000			Northern Oil & Gas, Inc.
				3.625%, 04/15/29			340,918
	100,000			Pioneer Natural Resources Company
				0.250%, 05/15/25			248,634
				SunEdison, Inc.@
	2,261,000			0.250%, 01/15/49			22,610
	275,000			0.000%, 10/01/49			2,750
							6,790,445
				Financials (2.0%)
	223,000			Affirm Holdings, Inc.µ
				0.000%, 11/15/26			178,124
	41,000,000	HKD		Citigroup Global Markets Funding Luxembourg SCAµ
				0.000%, 07/25/24			5,106,415
	192,000			Coinbase Global, Inc.µ
				0.500%, 06/01/26			168,689
	64,817	EUR		Corestate Capital Holding, SA
				8.000%, 12/31/26
				9.000% PIK rate			35,459
	100,000	GBP		Cornwall Jersey, Ltd.
				0.750%, 04/16/26			76,804
	3,440,000	EUR		Edenred
				0.000%, 09/06/24			2,288,895
	200,000	EUR		JPMorgan Chase Financial Company, LLC (Voya Financial, Inc.)§
				0.000%, 01/14/25			221,567
	200,000	EUR		LEG Immobilien, SE
				0.875%, 09/01/25			210,464
	314,000			Morgan Stanley Finance, LLC
				1.000%, 11/23/27			365,433
							8,651,850
				Health Care (1.4%)
	164,000			Alnylam Pharmaceuticals, Inc.
				1.000%, 09/15/27			158,249
	1,768,000			BioMarin Pharmaceutical, Inc.µ
				0.599%, 08/01/24			1,741,851
	135,000			Coherus Biosciences, Inc.
				1.500%, 04/15/26			85,838
	172,000			CONMED Corp.
				2.250%, 06/15/27			163,644
				Dexcom, Inc.
	156,000			0.375%, 05/15/28*			157,229
	142,000			0.250%, 11/15/25			147,017
	154,000			Enovis Corp.*
				3.875%, 10/15/28			190,392
	161,000			Envista Holdings Corp.*µ
				1.750%, 08/15/28			147,043
	100,000	EUR		GN Store Nord ASµ
				0.000%, 05/21/24			106,314
	205,000			Haemonetics Corp.µ
				0.000%, 03/01/26			181,985
				Halozyme Therapeutics, Inc.
	206,000			0.250%, 03/01/27µ			176,913
	170,000			1.000%, 08/15/28			154,253
	81,000			Immunocore Holdings, PLC*
				2.500%, 02/01/30			82,260
	73,000			Innoviva, Inc.
				2.500%, 08/15/25			79,478
	158,000			Insmed, Inc.
				0.750%, 06/01/28			172,207
	162,000			Integer Holdings Corp.*
				2.125%, 02/15/28			211,075
	167,000			Integra LifeSciences Holdings Corp.µ
				0.500%, 08/15/25			157,461
	163,000			Ionis Pharmaceuticals, Inc.
				0.000%, 04/01/26			173,359
	156,000			Jazz Investments I, Ltd.
				2.000%, 06/15/26			157,314

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	101,000			Lantheus Holdings, Inc.
				2.625%, 12/15/27		$	104,706
	30,000,000	JPY		Menicon Company, Ltd.µ
				0.000%, 01/29/25			203,306
	181,000			NeoGenomics, Inc.µ
				0.250%, 01/15/28			138,318
	165,000			NuVasive, Inc.µ
				0.375%, 03/15/25			154,598
	145,000			Omnicell, Inc.µ
				0.250%, 09/15/25			133,298
	135,000			Pacira BioSciences, Inc.µ
				0.750%, 08/01/25			125,455
	163,000			Sarepta Therapeutics, Inc.
				1.250%, 09/15/27			183,994
	242,000			Shockwave Medical, Inc.*
				1.000%, 08/15/28			255,959
	156,000			TransMedics Group, Inc.*^
				1.500%, 06/01/28			186,983
							5,930,499
				Industrials (6.2%)
	40,000,000	JPY		Daifuku Co., Ltd.
				0.000%, 09/13/30			298,163
	100,000	EUR		Duerr, AG
				0.750%, 01/15/26			100,854
	196,000			John Bean Technologies Corp.µ
				0.250%, 05/15/26			177,525
	200,000			L&F Company Ltd.
				2.500%, 04/26/30			126,624
	161,000			Middleby Corp.
				1.000%, 09/01/25			190,242
	2,700,000	EUR		Prysmian S.p.A
				0.000%, 02/02/26			3,230,776
				Rheinmetall, AG
	6,100,000	EUR		1.875%, 02/07/28			7,820,543
	100,000	EUR		2.250%, 02/07/30			131,347
	2,319,600	EUR		Schneider Electric, SE
				0.000%, 06/15/26			4,959,112
	1,400,000	EUR		SPIE, SA
				2.000%, 01/17/28			1,643,127
	1,232,000			Tetra Tech, Inc.*
				2.250%, 08/15/28			1,252,895
	6,230,000			Uber Technologies, Inc.*~
				0.875%, 12/01/28			6,959,471
							26,890,679
				Information Technology (7.7%)
				Akamai Technologies, Inc.
	2,990,000			1.125%, 02/15/29*~			3,323,863
	190,000			0.125%, 05/01/25			250,515
				BILL Holdings, Inc.µ
	208,000			0.000%, 04/01/27			174,764
	94,000			0.000%, 12/01/25			88,126
	3,175,000			Block, Inc.µ
				0.125%, 03/01/25			3,063,049
	210,000			Cloudflare, Inc.µ
				0.000%, 08/15/26			188,206
	213,000			Confluent, Inc.µ
				0.000%, 01/15/27			178,373
	162,000			CyberArk Software, Ltd.
				0.000%, 11/15/24			243,771
	3,306,000			Datadog, Inc.
				0.125%, 06/15/25			4,678,850
	447,000			DigitalOcean Holdings, Inc.µ
				0.000%, 12/01/26			368,601
	207,000			Dropbox, Inc.
				0.000%, 03/01/28			216,611
	381,000	CAD		Dye & Durham, Ltd.*µ
				3.750%, 03/01/26			249,939
	411,000			Fastly, Inc.µ
				0.000%, 03/15/26			366,912
	357,000			Five9, Inc.µ
				0.500%, 06/01/25			343,213
	2,300,000	EUR		GlobalWafers GmbH
				1.500%, 01/23/29			2,531,321
	17,000,000	HKD		Kingsoft Corp, Ltd.
				0.625%, 04/29/25			2,165,698
	175,000			LivePerson, Inc.
				0.000%, 12/15/26			116,949
	451,000			Microchip Technology, Inc.
				0.125%, 11/15/24			472,612
	418,000			MicroStrategy, Inc.µ
				0.000%, 02/15/27			337,999
	447,000			NCL Corp., Ltd.µ
				1.125%, 02/15/27			397,888
	200,000	EUR		Nexi S.p.Aµ
				1.750%, 04/24/27			202,409
	162,000			Nice, Ltd.
				0.000%, 09/15/25			155,821
	413,000			Okta, Inc.µ
				0.125%, 09/01/25			381,612
				ON Semiconductor Corp.
	319,000			0.500%, 03/01/29*			309,845
	202,000			0.000%, 05/01/27			291,896
	148,000			Palo Alto Networks, Inc.
				0.375%, 06/01/25			503,493
	173,000			Pegasystems, Inc.µ
				0.750%, 03/01/25			163,803
	1,381,000			Rapid7, Inc.
				1.250%, 03/15/29			1,512,043
	296,000			Repay Holdings Corp.*µ
				0.000%, 02/01/26			251,647
	320,000			RingCentral, Inc.µ
				0.000%, 03/15/26			280,384
	360,000,000	JPY		Rohm Company, Ltd.
				0.000%, 12/05/24			2,492,825
	40,000,000	JPY		SCREEN Holdings Company, Ltd.
				0.000%, 06/11/25			669,004
	320,000			Seagate HDD Cayman*
				3.500%, 06/01/28			385,366
	139,000			Shift4 Payments, Inc.
				0.000%, 12/15/25			153,363
	3,200,000			SK Hynix, Inc.
				1.750%, 04/11/30			4,219,296
	148,300	EUR		SOITEC
				0.000%, 10/01/25			283,160
	200,000			Tyler Technologies, Inc.
				0.250%, 03/15/26			202,990
	223,000			Unity Software, Inc.µ
				0.000%, 11/15/26			185,507
	318,000			Wix.com, Ltd.
				0.000%, 08/15/25			290,945
				Workiva, Inc.
	240,000			1.250%, 08/15/28*			231,223
	34,000			1.125%, 08/15/26			43,846
	265,000			Xero Investments, Ltd.
				0.000%, 12/02/25			240,837
	145,000			Zscaler, Inc.
				0.125%, 07/01/25			230,802
							33,439,377

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
				Materials (1.9%)
	214,000			Amyris, Inc.@
				1.500%, 11/15/26		$	7,588
	3,600,000			Glencore Funding, LLC
				0.000%, 03/27/25			3,715,272
	2,700,000			LG Chem, Ltd.
				1.250%, 07/18/28			2,563,974
	1,976,000			Lithium Americas Corp.
				1.750%, 01/15/27			1,371,087
	20,000,000	JPY		Nippon Steel Corp.
				0.000%, 10/05/26			196,614
	400,000	EUR		POSCO Holdings, Inc.
				0.000%, 09/01/26			462,397
							8,316,932
				Other (0.0%)
	110,000			Multiplan Corp.*µ
				6.000%, 10/15/27
				7.000% PIK rate			77,046
				Real Estate (0.8%)
	2,900,000	EUR		ANLLIAN Capital, Ltd.
				0.000%, 02/05/25			3,050,007
	330,000			Redfin Corp.µ
				0.000%, 10/15/25			281,791
	200,000			Vingroup, JSC
				3.000%, 04/20/26			196,074
							3,527,872
				Utilities (0.5%)
	318,000			American Water Capital Corp.*
				3.625%, 06/15/26			313,097
	1,466,000			CMS Energy Corp.*
				3.375%, 05/01/28			1,438,219
	320,000			PPL Capital Funding, Inc.*
				2.875%, 03/15/28			305,315
	160,000			Southern Company*
				3.875%, 12/15/25			159,400
							2,216,031
				Total Convertible Bonds (Cost $154,912,167)			142,567,146
Bank Loans (13.0%) ¡
				Airlines (0.1%)
	161,500			American Airlines, Inc.‡
				10.329%, 04/20/28
				3 mo. SOFR + 4.75%			165,728
	154,000			Mileage Plus Holdings, LLC‡
				10.770%, 06/21/27
				3 mo. SOFR + 5.25%			158,925
							324,653
				Communication Services (2.0%)
	1,250,000			APi Group DE, Inc.‡
				7.951%, 01/03/29
				1 mo. SOFR + 2.50%			1,251,756
	1,830,442			Charter Communications Operating, LLC‡
				7.083%, 02/01/27
				1 mo. SOFR + 1.75%			1,826,781
	34,111			Clear Channel Outdoor Holdings, Inc.‡
				9.074%, 08/21/26
				3 mo. SOFR + 3.50%			33,773
	347,247			DirecTV Financing, LLC!
				0.000%, 08/02/29			347,537
	320,000			Entercom Media Corp.‡&
				8.145%, 11/18/24
				3 mo. SOFR + 2.50%			179,675
	1,243,750			Go Daddy Operating Company, LLC‡
				7.333%, 11/09/29
				1 mo. SOFR + 2.00%			1,245,243
	1,250,000			Match Group, Inc.‡
				7.270%, 02/13/27
				3 mo. SOFR + 1.75%			1,247,663
	1,250,000			Nexstar Broadcasting, Inc.‡
				7.951%, 09/18/26
				1 mo. SOFR + 2.50%			1,250,306
	110,000			Telesat Canada‡
				8.400%, 12/07/26
				3 mo. SOFR + 2.75%			67,526
	1,250,000			Virgin Media Bristol, LLC‡
				7.948%, 01/31/28
				1 mo. SOFR + 2.50%			1,229,594
							8,679,854
				Consumer Discretionary (2.3%)
	153,600			American Axle & Manufacturing, Inc.‡
				8.936%, 12/13/29
				1 mo. SOFR + 3.50%			153,889
	1,243,750			Aramark Services, Inc.‡
				7.947%, 06/22/30
				1 mo. SOFR + 2.50%			1,242,979
	208,425			Caesars Entertainment, Inc.‡
				8.663%, 02/06/30
				3 mo. SOFR + 3.25%			208,592
	1,457,675			Carnival Corp.‡
				8.336%, 08/08/27
				1 mo. SOFR + 3.00%			1,460,226
	234,402			Carnival Corp.‡
				8.697%, 10/18/28
				1 mo. SOFR + 3.25%			234,731
	208,425			Hanesbrands, Inc.‡
				9.083%, 03/08/30
				1 mo. SOFR + 3.75%			207,643
	1,492,327			KFC Holding Company‡
				7.196%, 03/15/28
				1 mo. SOFR + 1.75%			1,493,671
	122,430			Life Time Fitness, Inc.‡
				9.824%, 01/15/26
				3 mo. SOFR + 4.25%			123,287
	1,243,606			Murphy USA, Inc.‡
				7.217%, 01/31/28
				1 mo. SOFR + 1.75%			1,247,492
	1,243,687			PENN Entertainment, Inc.‡
				8.183%, 05/03/29
				1 mo. SOFR + 2.75%			1,242,344
	125,661			Petco Health & Wellness Company, Inc.‡
				8.860%, 03/03/28
				3 mo. SOFR + 3.25%			118,293
	380,116			PetSmart, Inc.‡
				9.183%, 02/11/28
				1 mo. SOFR + 3.75%			378,890

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	1,243,462			Station Casinos, LLC‡
				7.683%, 02/08/27
				1 mo. SOFR + 2.25%		$	1,242,150
	138,635			TKC Holdings, Inc.‡
				10.947%, 05/15/28
				1 mo. SOFR + 5.50%			134,441
	224,863			Windsor Holdings III, LLC‡
				9.848%, 08/01/30
				1 mo. SOFR + 4.50%			225,456
							9,714,084
				Consumer Staples (0.5%)
	448,755			Amneal Pharmaceuticals, LLC‡
				10.833%, 05/04/28
				1 mo. SOFR + 5.50%			446,511
	1,506,391			Jazz Financing Lux Sarl‡
				8.447%, 05/05/28
				1 mo. SOFR + 3.00%			1,507,333
	215,000			Star Parent, Inc.‡
				9.348%, 09/27/30
				3 mo. SOFR + 4.00%			210,297
	105,896			United Natural Foods, Inc.‡
				8.697%, 10/22/25
				1 mo. SOFR + 3.25%			105,824
							2,269,965
			Energy (0.1%)
	160,000			Buckeye Partners, LP‡
				7.833%, 11/22/30
				1 mo. SOFR + 2.50%			160,134
	100,000			New Fortress Energy, Inc.‡
				10.317%, 10/27/28
				3 mo. SOFR + 5.00%			100,200
	258,324			Par Petroleum, LLC‡
				9.738%, 02/28/30
				3 mo. SOFR + 4.25%			258,550
							518,884
				Financials (0.7%)
	171,218			Alliant Holdings Intermediate LLC‡
				8.833%, 11/06/30
				1 mo. SOFR + 3.50%			171,770
	164,176			Amynta Agency Borrower, Inc.‡
				9.583%, 02/28/28
				1 mo. SOFR + 4.25%			164,440
	212,299			AssuredPartners, Inc.‡
				8.833%, 02/12/27
				1 mo. SOFR + 3.50%			211,856
	1,660,838			Avolon TLB Borrower 1, LLC‡
				7.337%, 06/22/28
				1 mo. SOFR + 2.00%			1,662,357
	100,000			Broadstreet Partners, Inc.‡
				9.083%, 01/27/29
				1 mo. SOFR + 3.75%			100,063
	280			Castlelake Aviation, Ltd.‡
				8.146%, 10/22/26
				3 mo. SOFR + 2.50%			280
	210,000			Hub International, Ltd.!
				0.000%, 06/20/30			210,361
	160,000			Iron Mountain, Inc.‡
				7.569%, 01/31/31
				3 mo. SOFR + 2.25%			159,350
	55,000			Osaic Holdings, Inc.‡
				9.833%, 08/17/28
				1 mo. SOFR + 4.50%			55,017
	283,036			VFH Parent, LLC‡
				8.433%, 01/13/29
				1 mo. SOFR + 3.00%			282,895
							3,018,389
				Health Care (2.3%)
	904,907			Avantor Funding, Inc.‡
				7.683%, 11/08/27
				1 mo. SOFR + 2.25%			905,359
	1,492,140			DaVita, Inc.‡
				7.197%, 08/12/26
				1 mo. SOFR + 1.75%			1,490,529
	1,243,077			Elanco Animal Health, Inc.‡
				7.203%, 08/01/27
				1 mo. SOFR + 1.75%			1,220,720
	2,404,442			Icon Luxembourg Sarl‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%			2,409,696
	1,250,000			Organon & Company‡
				8.450%, 06/02/28
				1 mo. SOFR + 3.00%			1,250,200
	235,294			Padagis, LLC‡
				10.341%, 07/06/28
				3 mo. SOFR + 4.75%			228,237
	1,246,843			Perrigo Investments, LLC‡
				7.683%, 04/20/29
				1 mo. SOFR + 2.25%			1,246,326
	599,068			PRA Health Sciences, Inc.‡
				7.860%, 07/03/28
				3 mo. SOFR + 2.25%			600,377
	630,605			Team Health Holdings, Inc.‡
				10.563%, 03/02/27
				3 mo. SOFR + 5.25%			527,343
	1,803			Team Health Holdings, Inc.‡
				10.583%, 03/02/27
				1 mo. SOFR + 5.25%			1,508
							9,880,295
				Industrials (2.9%)
	107,250			ACProducts, Inc.‡
				9.860%, 05/17/28
				3 mo. SOFR + 4.25%			93,052
	104,500			ACProducts, Inc.!
				0.000%, 05/17/28			90,666
	137,900			Air Canada‡
				9.139%, 08/11/28
				3 mo. SOFR + 3.50%			138,212
	1,243,622			Beacon Roofing Supply, Inc.‡
				7.947%, 05/19/28
				1 mo. SOFR + 2.50%			1,247,148
	1,449,351			Berry Global, Inc.‡
				7.202%, 07/01/29
				1 mo. SOFR + 1.75%			1,447,706
	1,449,305			ChampionX Corp.‡
				8.187%, 06/07/29
				1 mo. SOFR + 2.75%			1,455,646
	1,380,836			Emrld Borrower, LP‡
				8.313%, 05/31/30
				1 mo. SOFR + 3.00%			1,382,824
	1,243,734			H.B. Fuller Company‡
				7.587%, 02/15/30
				1 mo. SOFR + 2.25%			1,245,675
	1,243,622			JELD-WEN, Inc.‡
				7.447%, 07/28/28
				1 mo. SOFR + 2.00%			1,243,467

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL AMOUNT						VALUE
	1,440,687			Light and Wonder International, Inc.‡
				8.083%, 04/14/29
				1 mo. SOFR + 3.00%		$	1,440,687
	1,243,734			TransDigm, Inc.‡
				8.598%, 08/24/28
				3 mo. SOFR + 3.25%			1,246,384
	210,000			TransDigm, Inc.‡
				8.598%, 02/14/31
				3 mo. SOFR + 3.25%			210,505
	1,215,484			United Airlines, Inc.‡
				9.201%, 04/21/28
				1 mo. SOFR + 3.75%			1,219,379
							12,461,351
				Information Technology (1.2%)
	292,305			Banff Merger Sub, Inc.‡
				9.583%, 12/29/28
				1 mo. SOFR + 4.25%			293,035
	161,894			Camelot Finance SA‡
				8.337%, 10/30/26
				1 mo. SOFR + 3.00%			161,975
	204,625			Central Parent, Inc.‡
				9.348%, 07/06/29
				3 mo. SOFR + 4.00%			205,264
	1,388,444			II-VI, Inc.‡
				8.087%, 07/02/29
				1 mo. SOFR + 2.75%			1,384,626
	1,156,112			Open Text Corp.‡
				8.183%, 01/31/30
				1 mo. SOFR + 2.75%			1,157,852
	737,344			SS&C Technologies, Inc.‡
				7.683%, 03/22/29
				1 mo. SOFR + 2.25%			738,200
	379,402			SS&C Technologies, Inc.‡
				7.683%, 03/22/29
				1 mo. SOFR + 2.25%			379,842
	796,000			TTM Technologies, Inc.‡
				8.103%, 05/30/30
				1 mo. SOFR + 2.75%			796,995
							5,117,789
				Materials (0.8%)
	1,371,565			Axalta Coating Systems U.S. Holdings, Inc.‡
				7.848%, 12/20/29
				3 mo. SOFR + 2.50%			1,374,137
	1,226,925			Chemours Company‡
				8.833%, 08/18/28
				1 mo. SOFR + 3.50%			1,225,698
	213,925			Ineos US Finance, LLC‡
				8.837%, 02/18/30
				1 mo. SOFR + 3.50%			211,852
	161,780			Innophos, Inc.‡
				8.697%, 02/05/27
				1 mo. SOFR + 3.25%			159,927
	263,675			LSF11 A5 Holdco, LLC‡
				9.683%, 10/15/28
				1 mo. SOFR + 4.25%			264,006
	159,007			Trinseo Materials Operating SCA‡
				8.150%, 05/03/28
				3 mo. SOFR + 2.50%			122,091
	203,192			W.R. Grace & Co.-Conn.‡
				9.360%, 09/22/28
				3 mo. SOFR + 3.75%			203,683
							3,561,394
				Special Purpose Acquisition Companies (0.1%)
	108,350			Clydesdale Acquisition Holdings, Inc.‡
				9.108%, 04/13/29
				1 mo. SOFR + 3.68%			107,791
	54,038			Fertitta Entertainment, LLC‡
				9.333%, 01/27/29
				1 mo. SOFR + 4.00%			53,954
	197,500			Patagonia Holdco, LLC‡
				11.116%, 08/01/29
				3 mo. SOFR + 5.75%			181,601
							343,346
				Total Bank Loans (Cost $56,194,390)			55,890,004
NUMBER OF SHARES						VALUE
Convertible Preferred Stocks (1.5%)
				Energy (0.0%)
	5			Gulfport Energy Corp.#
				10.000%, 03/04/24
				15.000% PIK rate			46,250
				Financials (1.2%)
	88,340			Apollo Global Management, Inc.~
				6.750%, 07/31/26			5,160,823
				Utilities (0.3%)
	35,211			NextEra Energy, Inc.~
				6.926%, 09/01/25			1,310,201
				Total Convertible Preferred Stocks (Cost $6,628,267)			6,517,274
Common Stocks (77.0%)
				Communication Services (5.0%)
	45,750			Alphabet, Inc. - Class Aµ#			6,409,575
	4,575			Altice USA, Inc. - Class A^#			11,163
	4,050			Baidu, Inc. (ADR)µ#			426,505
	1,735			Cumulus Media, Inc. - Class Aµ#			7,981
	1			Frontier Communications Parent, Inc.^#			25
	1,770	SEK		Hemnet Group, AB			47,786
	4,600			Meta Platforms, Inc. - Class Aµ#			1,794,644
	19,000	HKD		NetEase, Inc.µ			369,324
	8,780			NetEase, Inc. (ADR)µ			857,279
	2,750			Netflix, Inc.µ#			1,551,302
	96,000	EUR		Orange, SAµ			1,141,625
	525	EUR		Scout24, SE*µ			38,656
	66,700	HKD		Tencent Holdings, Ltd.µ			2,315,244
	89,070			Tencent Holdings, Ltd. (ADR)~^			3,103,199
	22,080	GBP		Trustpilot Group, PLC*#			50,284
	1,176,545	GBP		Vodafone Group, PLCµ			1,000,228
	26,395			Walt Disney Company~			2,535,240
	1,960	GBP		YouGov, PLC			28,938
							21,688,998

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF SHARES						VALUE
				Consumer Discretionary (11.4%)
	124,700	HKD		Alibaba Group Holding, Ltd.µ		$	1,118,431
	8,175			Alibaba Group Holding, Ltd. (ADR)~			589,990
	20,840	PLN		Allegro.eu, SA*#			157,323
	165,500	MXN		Alsea, SAB de CV#			649,346
	89,300			Amazon.com, Inc.^µ#			13,859,360
	26,630	INR		Amber Enterprises India, Ltd.#			1,391,947
	315,000	SAR		Americana Restaurants International, PLC			267,953
	51,097			Aptiv, PLCµ#			4,155,719
	3,900	BRL		Arezzo Industria e Comercio, SA			49,270
	12,500	CNY		BYD Company, Ltd. - Class A			298,077
	20,700	CNY		China Tourism Group Duty Free Corp., Ltd. - Class A			230,466
	870			Chipotle Mexican Grill, Inc.µ#			2,095,630
	65,380	BRL		Cyrela Brazil Realty, SA Empreendimentos e Participacoes			295,070
	15,655	INR		Dixon Technologies India, Ltd.			1,127,940
	3,050	KRW		Hotel Shilla Company, Ltd.			132,852
	112,532	INR		Indian Hotels Company, Ltd.			666,075
	161,219	HKD		JD.com, Inc. - Class Aµ			1,817,927
	173,000	HKD		Jiumaojiu International Holdings, Ltd.*µ			101,899
	334,330	INR		Kalyan Jewellers India, Ltd.			1,418,991
	123,000	HKD		Li Ning Company, Ltd.µ			262,768
	4,145	EUR		LVMH Moet Hennessy Louis Vuitton, SEµ			3,448,883
	32,200	INR		Mahindra & Mahindra, Ltd.			642,334
	82,410			MakeMyTrip, Ltd.µ#			4,564,690
	3,987,300	IDR		Map Aktif Adiperkasa PT			245,100
	11,470	HKD		Meituan - Class B*µ#			92,256
	2,855			MercadoLibre, Inc.µ#			4,887,218
	2,733,200	IDR		Mitra Adiperkasa Tbk PT			338,530
	44,620			NIO, Inc. (ADR)#			250,764
	43,600	HKD		Prada S.p.A.µ			270,376
	17,872	EUR		Prosus, NV~			528,599
	236,800	HKD		Sands China, Ltd.µ#			621,545
	90,650	INR		Tata Motors, Ltd.			965,428
	2,100			Tesla, Inc.µ#			393,309
	1,130	INR		TVS Motor Company, Ltd.			27,161
	10,100	HKD		Yum China Holdings, Inc.µ			347,500
	593,500	INR		Zomato, Ltd.#			994,660
							49,305,387
				Consumer Staples (4.2%)
	14,725	CHF		Aryzta, AG#			26,430
	77,500	GBP		British American Tobacco, PLCµ			2,284,979
	35,550			Coca-Cola Company^µ			2,114,869
	12,300			Constellation Brands, Inc. - Class Aµ			3,014,484
	5,100			Costco Wholesale Corp.µ			3,543,888
	82,800	MXN		Fomento Economico Mexicano, SAB de CV			1,121,238
	2,600	CNY		Kweichow Moutai Company, Ltd. - Class A			581,954
	2,062			Mallinckrodt, PLC#			78,871
	20,500	CHF		Nestle, SAµ			2,335,986
	95,528	BRL		Raia Drogasil, SA			487,821
	67,100	JPY		Seven & i Holdings Company, Ltd.µ			2,650,102
	106,000	HKD		Smoore International Holdings, Ltd.*			64,099
	600	JPY		Toyo Suisan Kaisha, Ltd.~			31,243
	1,800	JPY		Yamazaki Baking Company, Ltd.~			42,682
							18,378,646
				Energy (4.5%)
	74,600	CAD		Canadian Natural Resources, Ltd.µ			4,774,134
	305			Chesapeake Energy Corp.µ			23,519
	17,600			Chevron Corp.~µ			2,594,768
	14,985			Energy Transfer, LP			214,285
	9,035			Enterprise Products Partners, LP			241,777
	1,826			EP Energy Corp.&#			5,478
	7			Gulfport Energy Corp.#			—
	42,400			Helmerich & Payne, Inc.~µ			1,707,024
	1,954			ONEOK, Inc.µ			133,360
	136,900	THB		PTT Exploration & Production, PCL			576,774
	38,530	INR		Reliance Industries, Ltd.			1,322,248
	98,974			Schlumberger, NVµ			4,820,034
	82,300	GBP		Shell, PLC			2,551,490
	20,860			TechnipFMC, PLCµ			403,432
							19,368,323
				Financials (9.2%)
	373,000	HKD		AIA Group, Ltd.µ			2,925,221
	10,000			Aon, PLC - Class Aµ			2,984,300
	188,400	BRL		B3, SA - Brasil Bolsa Balcao			497,771
	73,150	BRL		Banco BTG Pactual, SA			531,823
	8,288,700	IDR		Bank Mandiri Persero, Tbk PT			3,489,670
	189,000			Bank of America Corp.~µ			6,427,890
	16,200	JPY		Concordia Financial Group, Ltd.µ			77,200
	111,948	AED		First Abu Dhabi Bank, PJSC			446,302
	1,400			First Citizens BancShares Inc/NC- Class Aµ			2,114,000
	19,025	KRW		Hana Financial Group, Inc.			680,285
	224,876	INR		HDFC Bank, Ltd.			3,954,908
	1,600	AUD		HUB24, Ltd.µ			38,666
	12,575			JPMorgan Chase & Companyµ			2,192,577
	156,300	THB		Kasikornbank PCL			524,267
	4,120,000	GBP		Lloyds Banking Group, PLCµ			2,208,548
	15,200	KRW		Meritz Financial Group, Inc.#			766,254
	44,285			Morgan Stanleyµ			3,863,423
	260,000	HKD		Ping An Insurance Group Company of China, Ltd. - Class Hµ			1,092,921
	24,653	SAR		Saudi National Bank			266,241
	9,445	AUD		Steadfast Group, Ltd.µ			36,546
	8,600			Visa, Inc. - Class Aµ			2,350,036
	41,825			Wells Fargo & Companyµ			2,098,779
							39,567,628
				Health Care (8.3%)
	3,280	INR		Alkem Laboratories, Ltd.			197,320
	8,400	INR		Apollo Hospitals Enterprise, Ltd.			639,199
	23,100	GBP		AstraZeneca, PLCµ			3,062,525
	14,977			Danaher Corp.µ			3,593,132
	4,738	KRW		Dentium Company, Ltd.#			400,762
	15,250			Eli Lilly & Companyµ			9,845,552
	22,600	CNY		Gan & Lee Pharmaceuticals Company, Ltd. - Class A#			115,307
	10,104			GE Healthcare, Inc.~µ			741,229
	23,865	EUR		Gerresheimer, AGµ			2,433,012
	4,860			Humana, Inc.µ			1,837,372
	8,520	BRL		Hypera, SA			54,566
	1,300	JPY		Jeol, Ltd.~			59,428
	105,800			Novo Nordisk, A/S (ADR)			12,139,492
	184,000	HKD		Wuxi Biologics Cayman, Inc.*µ#			484,202

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF SHARES						VALUE
	140	CHF		Ypsomed Holding, AG		$	49,418
							35,652,516
				Industrials (7.6%)
	37,029	EUR		Alstom, SA			466,951
	10,340	GBP		Ashtead Technology Holdings, PLC			86,101
	28,000	CAD		Canadian Pacific Kansas City, Ltd.			2,253,204
	12,780	CNY		Contemporary Amperex Technology Company, Ltd. - Class A			270,083
	1,115	EUR		DO & CO, AGµ			155,443
	850	JPY		Ebara Corp.~			53,233
	30,312			General Electric Companyµ			4,013,915
	310	KRW		HD Hyundai Electric Company, Ltd.			23,741
	45,110	INR		Hindustan Aeronautics, Ltd.			1,637,635
	41,500	JPY		Hitachi, Ltd.~			3,259,839
	185,600	JPY		INFRONEER Holdings, Inc.			1,940,164
	2,400	JPY		Japan Elevator Service Holdings Company, Ltd.µ			36,268
	12,490	INR		KEI Industries, Ltd.			479,321
	1,400	JPY		Keisei Electric Railway Company, Ltd.~			63,350
	51,500	JPY		Komatsu, Ltd.~			1,465,172
	1,800	JPY		Kyudenko Corp.~			68,468
	12,750	INR		Larsen & Toubro, Ltd.			533,820
	3,980	EUR		Leonardo S.p.Aµ			69,467
	347,065	GBP		Melrose Industries, PLC			2,586,844
	10,080	SEK		Munters Group, AB*			160,889
	35,300	CNY		Ningbo Orient Wires & Cables Company, Ltd. - Class A			173,743
	1,137,000	GBP		Rolls-Royce Holdings, PLCµ#			4,316,564
	167,200	CNY		Sany Heavy Industry Company, Ltd. - Class A			304,966
	54,502	CNY		Shanghai International Airport Company, Ltd. - Class A#			251,635
	1,200	JPY		Sojitz Corp.~			28,322
	1,359	CAD		Stantec, Inc.µ			109,199
	56,626	INR		Titagarh Rail System, Ltd.			749,937
	4,992			Veralto Corp.µ			382,837
	62,000			Vertiv Holdings Company - Class Aµ			3,492,460
	16,500			Waste Management, Inc.µ			3,062,895
	134,400	CNY		Weichai Power Company, Ltd. - Class A			276,196
							32,772,662
				Information Technology (22.5%)
	13,000	TWD		Alchip Technologies, Ltd.			1,612,519
	42,900			Apple, Inc.~µ			7,910,760
	13,720			ASML Holding, NV (ADR)µ			11,933,930
	589	EUR		BE Semiconductor Industries, NV~			88,514
	41,000	TWD		E Ink Holdings, Inc.			271,900
	372			Fabrinetµ#			79,426
	47,200	CNY		Foxconn Industrial Internet Company, Ltd. - Class A			87,359
	1,370	KRW		HPSP Company, Ltd.			45,922
	14,500	CNY		Iflytek Company, Ltd. - Class A			77,148
	28,901			Infosys, Ltd. (ADR)			573,974
	14,900	JPY		Keyence Corp.~			6,666,228
	270,000	HKD		Kingdee International Software Group Company, Ltd.µ#			260,999
	80,495	INR		KPIT Technologies, Ltd.			1,501,606
	25,000	TWD		MediaTek, Inc.			771,440
	33,400			Microsoft Corp.µ			13,279,172
	675	EUR		Nemetschek, SEµ			62,285
	540,000	EUR		Nokia Oyj			1,952,220
	26,800			NVIDIA Corp.µ			16,489,236
	35,500			Oracle Corp.µ			3,965,350
	4,050	GBP		Sage Group, PLCµ			60,296
	29,340	KRW		Samsung Electronics Company, Ltd.			1,594,243
	800	JPY		SCREEN Holdings Company, Ltd.µ			78,447
	1,790			ServiceNow, Inc.µ#			1,370,066
	100	JPY		SHIFT, Inc.µ#			18,027
	19,050	CAD		Shopify, Inc. - Class Aµ#			1,525,049
	13,000	TWD		Silergy Corp.			159,988
	16,600	KRW		SK Hynix, Inc.			1,662,335
	40,500	HKD		Sunny Optical Technology Group Company, Ltd.µ			248,929
	853,000	TWD		Taiwan Semiconductor Manufacturing Company, Ltd.			17,075,774
	22,825			Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)~			2,578,312
	48,250	BRL		TOTVS, SA			306,968
	900	JPY		Towa Corp.~			46,431
	60,065			Unity Software, Inc.^µ#			1,946,106
	93,700	CNY		Venustech Group, Inc. - Class A			241,474
	303,800	HKD		Xiaomi Corp. - Class B*µ#			478,645
	7,700	CNY		Zhongji Innolight Company, Ltd. - Class A			109,819
							97,130,897
				Materials (2.1%)
	219,750	AED		Fertiglobe, PLC			166,924
	75,095			Freeport-McMoRan, Inc.^µ			2,980,521
	3,550			Linde, PLCµ			1,437,146
	521,200	NOK		Norsk Hydro, ASA~			3,054,494
	16,900	ZAR		Sasol, Ltd.			146,788
	1,945	EUR		SOL S.p.A^			55,978
	1,200	JPY		Sumitomo Bakelite Company, Ltd.~			59,637
	21,200			Vale, SA (ADR)			290,228
	486,000	HKD		Zijin Mining Group Company, Ltd.- Class Hµ			721,158
							8,912,874
				Real Estate (1.4%)
	935,500	PHP		Ayala Land, Inc.			565,328
	492,165	MXN		Corp. Inmobiliaria Vesta SAB de CV			1,870,121
	104,680	INR		DLF, Ltd.			1,003,474
	181,970	INR		Macrotech Developers, Ltd.			2,354,654
	8,900	JPY		Mirarth Holdings, Inc.~			29,823
	14,680	INR		Prestige Estates Projects, Ltd.			222,280
	410	EUR		VGP, NV			48,089
							6,093,769
				Special Purpose Acquisition Company (0.0%)#
	2,835			Intelsat Emergence, SA&#			77,254
				Utilities (0.8%)
	45,801	EUR		Engie,SA#			733,053
	28,462			NextEra Energy, Inc.µ			1,668,727

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF SHARES						VALUE
	29,000	EUR		RWE, AGµ		$	1,070,843
							3,472,623
				TOTAL COMMON STOCKS (Cost $421,883,622)			332,421,577
Preferred Stocks (0.5%)
				Communication Services (0.0%)
				United States Cellular Corp.µ
	2,600			5.500%, 06/01/70			47,710
	2,500			5.500%, 03/01/70			46,275
							93,985
				Consumer Discretionary (0.0%)
	1,597			Guitar Center, Inc.&#			130,954
				Energy (0.1%)
	6,520			NuStar Energy, LP‡
				11.282%, 03/01/24
				3 mo. SOFR + 5.91%			167,564
	1,600			NuStar Energy, LP‡
				12.405%, 03/01/24
				3 mo. SOFR + 7.03%			41,312
	8,335			NuStar Logistics, LP‡
				12.310%, 01/15/43
				3 mo. SOFR + 7.00%			215,543
							424,419
				Financials (0.2%)
	133,716			Itau Unibanco Holding, SA (ADR)			882,525
				Industrials (0.2%)
	304,200	BRL		Randon, SA Implementos e Participacoes			718,380
				Total Preferred Stocks (Cost $2,234,992)			2,250,263
Warrants (0.0%) #
				Energy (0.0%)
	13,401			Mcdermott International, Ltd.&
				06/30/27, Strike $15.98			1
	12,061			Mcdermott International, Ltd.&
				06/30/27, Strike $12.33			1
				TOTAL WARRANTS (Cost $5,152)			2
PRINCIPAL AMOUNT						VALUE
U.S. Government and Agency Securities (0.1%)
				Other (0.1%)
				U.S. Treasury Note
	310,000			2.250%, 03/31/24^			308,462
	265,000			4.375%, 10/31/24			263,960
				TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES (Cost $573,096)			572,422
NUMBER OF CONTRACTS/ NOTIONAL AMOUNT						VALUE
Purchased Options (0.9%) #
				Consumer Discretionary (0.2%)
	67			Alibaba Group Holding, Ltd.
	483,539			Call, 06/21/24, Strike $85.00			21,105
	1,600			Makemytrip, Ltd.
	8,862,400			Call, 08/16/24, Strike $60.00			875,243
							896,348
				Health Care (0.1%)
	450			Boston Scientific Corp.
	2,846,700			Call, 06/21/24, Strike $62.50			191,250
				Industrials (0.2%)
	520			Uber Technologies, Inc.
	3,394,040			Call, 01/17/25, Strike $57.50			820,300
				Materials (0.0%)
	2,050			Cemex Sab De CV
	1,697,400			Call, 07/19/24, Strike $8.00			143,500
				Other (0.4%)
	557			Global X MSCI Argentina ETF
	2,918,123			Call, 07/19/24, Strike $54.00			175,455
				Invesco QQQ Trust Series 1
	2,016
	84,061,152			Put, 02/16/24, Strike $399.78			250,992
	815
	33,983,055			Put, 12/20/24, Strike $344.78			655,260
	3,427			iShares MSCI India ETF
	17,097,303			Put, 02/16/24, Strike $47.00			17,135
				iShares MSCI India Small-Cap ETF
	50
	367,100			Put, 02/16/24, Strike $61.76			3,125
	39
	286,338			Put, 02/16/24, Strike $65.76			1,658
	1,500			Petroleo Brasileiro, SA
	2,560,500			Call, 04/19/24, Strike $17.00			171,750
	690			SPDR S&P 500 ETF Trust
	33,318,720			Put, 12/20/24, Strike $410.00			514,740
	140	EUR		Totalenergies, SE
	930,770			Call, 06/21/24, Strike 60.00			50,541
							1,840,656
				Total Purchased Options (Cost $6,086,391)			3,892,054
TOTAL INVESTMENTS (142.3%) (Cost $717,613,667)						$	614,383,617
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-16.2%)							(70,000,000	)
LIABILITIES, LESS OTHER ASSETS (-26.1%)							(112,662,526	)
NET ASSETS (100.0%)						$	431,721,091

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT						VALUE
Written Options (-0.1%) #
				Consumer Discretionary (-0.1%)
	(509	)		Amazon.com, Inc.
	(7,899,680	)		Call, 04/19/24, Strike $170.00		$	(206,145	)
				Financials (0.0%)
	(100	)		Aon, PLC
	(2,984,300	)		Call, 04/19/24, Strike $340.00			(14,500	)
				Information Technology (0.0%)
	(355	)		Oracle Corp.
	(3,965,350	)		Call, 04/19/24, Strike $120.00			(93,898	)
	(600	)		Unity Software, Inc.
	(1,944,000	)		Call, 05/17/24, Strike $42.00			(108,300	)
							(202,198	)
				Other (0.0%)
	(557	)		Global X MSCI Argentina ETF
	(2,918,123	)		Call, 07/19/24, Strike $60.00			(82,157	)
				Total Written Options (Premium $459,893)		$	(505,000	)

 

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 Funds. 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.
~		Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options. The aggregate value of such securities is $23,749,293.
@		In default status and considered non-income producing.
^		Security, or portion of security, is on loan.
&		Illiquid security.
‡		Variable rate security. The rate shown is the rate in effect at January 31, 2024.
µ		Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $245,757,280.
§		Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical.
¡		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.
#		Non-income producing security.
ABBREVIATION
ADR		American Depositary Receipt.
FOREIGN CURRENCY ABBREVIATIONS
AED		UAE Dirham
AUD		Australian Dollar
BRL		Brazilian Real
CAD		Canadian Dollar
CHF		Swiss Franc
CNY		Chinese Yuan Renminbi
EUR		European Monetary Unit
GBP		British Pound Sterling
HKD		Hong Kong Dollar
IDR		Indonesian Rupiah
INR		Indian Rupee
JPY		Japanese Yen
KRW		South Korean Won
MXN		Mexican Peso
NOK		Norwegian Krone
PHP		Philippine Peso
PLN		Polish Zloty
SAR		Saudi Riyal
SEK		Swedish Krona
THB		Thai Baht
TWD		New Taiwan Dollar
ZAR		South African Rand
Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The principal amount for such securities is shown in the respective foreign currency.  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.

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Securities		$	—			$	156,428			$	—			$	156,428
Corporate Bonds			—				70,116,447				—				70,116,447
Convertible Bonds			—				142,567,146				—				142,567,146
Bank Loans			—				55,890,004				—				55,890,004
Convertible Preferred Stocks			6,471,024				46,250				—				6,517,274
Common Stocks			210,154,352				122,267,225				—				332,421,577
Preferred Stocks			2,119,309				130,954				—				2,250,263
Warrants			—				2				—				2
U.S. Government and Agency Securities			—				572,422				—				572,422
Purchased Options			3,892,054				—				—				3,892,054
Total		$	222,636,739			$	391,746,878			$	—			$	614,383,617
Liabilities:
Written Options		$	505,000			$	—			$	—			$	505,000
Total		$	505,000			$	—			$	—			$	505,000

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Dynamic Income Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

CURRENCY EXPOSURE JANUARY 31, 2024
		Value				% of Total Investments
US Dollar		$	417,457,938				68.0	%
European Monetary Unit			47,385,310				7.7	%
Japanese Yen			22,719,203				3.7	%
Indian Rupee			21,830,938				3.5	%
Hong Kong Dollar			21,550,769				3.5	%
British Pound Sterling			20,697,371				3.4	%
New Taiwan Dollar			19,891,621				3.2	%
Canadian Dollar			12,344,495				2.0	%
South Korean Won			5,306,394				0.9	%
Indonesian Rupiah			4,073,300				0.7	%
Mexican Peso			3,640,705				0.6	%
Norwegian Krone			3,054,494				0.5	%
Chinese Yuan Renminbi			3,018,227				0.5	%
Brazilian Real			2,941,669				0.5	%
Swiss Franc			2,411,834				0.4	%
Australian Dollar			2,227,774				0.4	%
Thai Baht			1,101,041				0.2	%
UAE Dirham			613,226				0.1	%
Philippine Peso			565,328				0.1	%
Saudi Riyal			534,194				0.1	%
Swedish Krona			208,675				—	%
Polish Zloty			157,323				—	%
South African Rand			146,788				—	%
Total Investments Net of Written Options		$	613,878,617				100.0	%

 

Currency exposure may vary over time.                

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
Corporate Bonds (14.7%)
		Airlines (0.2%)
42,066		Alaska Airlines Pass Through Trust Series 2020-1, Class A*
		4.800%, 02/15/29		$	40,834
21,757		Alaska Airlines Pass Through Trust Series 2020-1, Class B*
		8.000%, 02/15/27			21,981
47,575		American Airlines Pass Through Trust Series 2021-1, Class B
		3.950%, 01/11/32			42,445
24,750		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*
		5.500%, 04/20/26			24,526
42,442		British Airways Pass Through Trust Series 2021-1, Class B*
		3.900%, 03/15/33			38,508
37,784		JetBlue Pass Through Trust Series 2020-1, Class B
		7.750%, 05/15/30			38,110
					206,404
		Communication Services (1.4%)
55,000		APi Group DE, Inc.*
		4.750%, 10/15/29			51,503
		Audacy Capital Corp.*@
57,000		6.750%, 03/31/29			2,301
27,000		6.500%, 05/01/27			1,152
36,000		Cincinnati Bell Telephone Company, LLC
		6.300%, 12/01/28			31,930
40,000		Clear Channel Outdoor Holdings, Inc.*
		9.000%, 09/15/28			41,800
65,000		Consolidated Communications, Inc.*^
		6.500%, 10/01/28			56,635
200,000		CSC Holdings, LLC*
		5.500%, 04/15/27			179,822
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
45,000		6.625%, 08/15/27&			3,079
27,000		5.375%, 08/15/26			1,906
78,000		Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*
		5.875%, 08/15/27			74,168
45,000		Frontier California, Inc.
		6.750%, 05/15/27			43,523
		Frontier Communications Holdings, LLC*
28,000		5.000%, 05/01/28			25,871
11,000		8.750%, 05/15/30			11,272
65,000		Frontier Florida, LLC@
		6.860%, 02/01/28			62,635
65,000		Frontier North, Inc.@
		6.730%, 02/15/28			62,354
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
40,000		3.500%, 03/01/29			36,229
13,000		5.250%, 12/01/27			12,772
		iHeartCommunications, Inc.
25,000		8.375%, 05/01/27			15,640
15,000		5.250%, 08/15/27*			11,663
37,759		Ligado Networks, LLC*
		15.500%, 11/01/23
		PIK rate			6,502
		Lumen Technologies, Inc.
35,000		7.600%, 09/15/39			9,315
20,000		4.000%, 02/15/27*			10,588
10,000		7.650%, 03/15/42			2,757
22,000		Match Group Holdings II, LLC*
		3.625%, 10/01/31			18,845
35,000		Nexstar Media, Inc.*
		5.625%, 07/15/27			34,074
45,000		Paramount Global
		4.900%, 08/15/44			35,600
14,000		Qwest Corp.
		7.250%, 09/15/25			13,724
		Scripps Escrow II, Inc.*
23,000		3.875%, 01/15/29			20,007
11,000		5.375%, 01/15/31			8,457
40,000		Scripps Escrow, Inc.*^
		5.875%, 07/15/27			36,100
		Sirius XM Radio, Inc.*
65,000		5.500%, 07/01/29			61,867
43,000		4.000%, 07/15/28			39,069
20,000		3.125%, 09/01/26			18,705
11,000		3.875%, 09/01/31			9,185
41,000		Spanish Broadcasting System, Inc.*
		9.750%, 03/01/26			21,803
110,000		Sprint, LLC
		7.125%, 06/15/24			110,541
45,000		Stagwell Global, LLC*
		5.625%, 08/15/29			41,311
42,000		Telesat Canada / Telesat, LLC*
		4.875%, 06/01/27			24,905
15,000		Time Warner Cable, LLC
		7.300%, 07/01/38			15,743
54,000		United States Cellular Corp.
		6.700%, 12/15/33			55,678
45,000		Univision Communications, Inc.*
		8.000%, 08/15/28			45,799
20,000		Viasat, Inc.*^
		5.625%, 04/15/27			18,776
					1,385,606
		Consumer Discretionary (2.8%)
53,000		Abercrombie & Fitch Management Company*
		8.750%, 07/15/25			53,969
40,000		Adams Homes, Inc.*
		9.250%, 10/15/28			40,997
55,000		Adient Global Holdings Company*^
		8.250%, 04/15/31			58,142
36,000		American Axle & Manufacturing, Inc.
		6.875%, 07/01/28			35,223
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
39,000		6.625%, 01/15/28			38,690
38,000		4.625%, 08/01/29			34,626
53,000		At Home Group, Inc.*
		4.875%, 07/15/28			23,434
		Bath & Body Works, Inc.
57,000		6.694%, 01/15/27			57,950

 

See accompanying Notes to Schedule of Investments

 

  

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
35,000		6.875%, 11/01/35		$	35,020
		Caesars Entertainment, Inc.*
28,000		4.625%, 10/15/29			25,593
21,000		8.125%, 07/01/27			21,569
		Carnival Corp.*
22,000		4.000%, 08/01/28			20,406
21,000		7.625%, 03/01/26			21,341
3,000		7.000%, 08/15/29^			3,124
		Carvana Company*
8,000		14.000%, 06/01/31			7,141
6,000		13.000%, 06/01/30			5,350
4,000		12.000%, 12/01/28			3,552
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
95,000		5.125%, 05/01/27			91,695
90,000		4.500%, 08/15/30			78,228
50,000		6.375%, 09/01/29			48,706
50,000		4.750%, 03/01/30			44,457
46,000		4.250%, 02/01/31			38,829
22,000		4.750%, 02/01/32			18,892
20,000		5.000%, 02/01/28			18,894
22,000		CDI Escrow Issuer, Inc.*
		5.750%, 04/01/30			21,310
39,000		Cedar Fair, LP^
		5.250%, 07/15/29			37,330
23,000		Churchill Downs, Inc.*
		6.750%, 05/01/31			23,330
		Dana, Inc.
40,000		4.250%, 09/01/30			35,014
32,000		4.500%, 02/15/32			27,558
		DISH DBS Corp.
45,000		5.125%, 06/01/29			16,781
30,000		7.375%, 07/01/28			13,277
30,000		5.250%, 12/01/26*			23,691
26,000		7.750%, 07/01/26			15,386
25,000		5.750%, 12/01/28*			16,864
46,000		DISH Network Corp.*
		11.750%, 11/15/27			48,044
47,000		Everi Holdings, Inc.*
		5.000%, 07/15/29			43,247
175,000		Ford Motor Company^
		6.100%, 08/19/32			175,114
200,000		Ford Motor Credit Company, LLC
		2.900%, 02/16/28			180,092
16,000		Gap, Inc.*
		3.875%, 10/01/31			13,223
20,000		General Motors Company
		5.200%, 04/01/45			18,148
		goeasy, Ltd.*
75,000		9.250%, 12/01/28			79,934
40,000		4.375%, 05/01/26			38,276
20,000		Goodyear Tire & Rubber Company
		5.250%, 07/15/31			18,222
19,000		Group 1 Automotive, Inc.*
		4.000%, 08/15/28			17,546
45,000		Guitar Center, Inc.*^&
		8.500%, 01/15/26			39,984
11,597		JetBlue Pass Through Trust Series 2019-2, Class B
		8.000%, 11/15/27			11,692
35,000		Kohl's Corp.
		5.550%, 07/17/45			23,885
45,000		LCM Investments Holdings II, LLC*
		8.250%, 08/01/31			46,208
45,000		Liberty Interactive, LLC
		8.250%, 02/01/30			24,042
43,000		Life Time, Inc.*^
		8.000%, 04/15/26			43,498
20,000		Light & Wonder International, Inc.*
		7.500%, 09/01/31			20,842
15,000		Lindblad Expeditions Holdings, Inc.*
		9.000%, 05/15/28			15,601
28,000		Lindblad Expeditions, LLC*
		6.750%, 02/15/27			28,021
30,000		M/I Homes, Inc.
		3.950%, 02/15/30			26,906
		Macy's Retail Holdings, LLC
53,000		6.700%, 07/15/34*			44,602
45,000		4.300%, 02/15/43			34,168
55,000		Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*
		4.875%, 05/01/29			51,063
25,000		Newell Brands, Inc.
		5.200%, 04/01/26			24,346
		Nordstrom, Inc.
23,000		4.250%, 08/01/31			19,204
20,000		5.000%, 01/15/44			14,452
67,000		Patrick Industries, Inc.*
		4.750%, 05/01/29			61,795
50,000		PENN Entertainment, Inc.*^
		4.125%, 07/01/29			43,008
60,000		Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*^
		5.625%, 09/01/29			45,226
20,000		QVC, Inc.
		5.450%, 08/15/34			13,291
20,000		Raising Cane's Restaurants, LLC*
		9.375%, 05/01/29			21,449
91,000		Rite Aid Corp.*@
		8.000%, 11/15/26			69,132
23,000		Royal Caribbean Cruises, Ltd.*
		7.250%, 01/15/30			23,984
63,000		Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*
		4.625%, 03/01/29			54,315
65,000		Six Flags Entertainment Corp.*
		7.250%, 05/15/31			66,377
50,000		Sonic Automotive, Inc.*
		4.625%, 11/15/29			45,290
36,000		Speedway Motorsports, LLC / Speedway Funding II, Inc.*
		4.875%, 11/01/27			34,175
90,000		Station Casinos, LLC*
		4.500%, 02/15/28			84,927
		STL Holding Company, LLC*
35,000		7.500%, 02/15/26			35,650
11,000		8.750%, 02/15/29			11,202
31,000		Taylor Morrison Communities, Inc.*
		5.750%, 01/15/28			30,897
10,000		Viking Cruises, Ltd.*
		9.125%, 07/15/31			10,715
50,000		Vista Outdoor, Inc.*
		4.500%, 03/15/29			49,166
					2,857,328

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Consumer Staples (0.7%)
52,000		1375209 B.C., Ltd.*^
		9.000%, 01/30/28		$	50,512
67,000		Arrow Bidco, LLC*
		10.750%, 06/15/25			69,413
40,000		B&G Foods, Inc.*
		8.000%, 09/15/28			41,764
51,000		Central Garden & Pet Company*
		4.125%, 04/30/31			45,165
53,000		Edgewell Personal Care Company*
		4.125%, 04/01/29			48,522
		Energizer Holdings, Inc.*
59,000		4.375%, 03/31/29			53,427
10,000		6.500%, 12/31/27			9,968
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
65,000		5.500%, 01/15/30			63,634
25,000		5.125%, 02/01/28			24,806
15,000		5.750%, 04/01/33			14,874
33,000		New Albertsons, LP
		7.750%, 06/15/26			33,872
43,000		Performance Food Group, Inc.*
		4.250%, 08/01/29			39,435
35,000		Pilgrim's Pride Corp.
		4.250%, 04/15/31			31,577
21,000		Post Holdings, Inc.*
		5.750%, 03/01/27			20,936
42,000		Prestige Brands, Inc.*
		3.750%, 04/01/31			36,614
35,000		United Natural Foods, Inc.*
		6.750%, 10/15/28			29,453
70,000		Vector Group, Ltd.*
		5.750%, 02/01/29			64,651
					678,623
		Energy (1.8%)
24,000		Antero Resources Corp.*
		5.375%, 03/01/30			22,923
45,000		Apache Corp.
		5.100%, 09/01/40			38,700
25,000		Buckeye Partners, LP
		5.850%, 11/15/43			20,650
60,000		Callon Petroleum Company*
		7.500%, 06/15/30			63,250
23,000		Cheniere Energy, Inc.^
		4.625%, 10/15/28			22,287
32,000		Chesapeake Energy Corp.*
		6.750%, 04/15/29			32,391
58,000		Civitas Resources, Inc.*
		8.750%, 07/01/31			61,903
		Continental Resources, Inc.*
35,000		2.875%, 04/01/32			28,589
25,000		5.750%, 01/15/31			24,892
32,000		DT Midstream, Inc.*
		4.125%, 06/15/29			29,427
		Earthstone Energy Holdings, LLC*
39,000		8.000%, 04/15/27			40,418
15,000		9.875%, 07/15/31			16,669
25,000		Enbridge, Inc.‡
		7.375%, 01/15/83
		5 year CMT + 3.71%			25,044
		Energy Transfer, LP‡
65,000		8.586%, 11/01/66
		3 mo. USD Term SOFR + 3.28%			58,065
32,000		6.500%, 02/01/36
		5 year CMT + 5.69%			30,950
		EnLink Midstream Partners, LP
60,000		9.756%, 02/01/36‡
		3 mo. USD LIBOR + 4.11%			56,717
50,000		4.850%, 07/15/26			49,133
31,000		Enlink Midstream, LLC*
		6.500%, 09/01/30			31,764
70,000		EQM Midstream Partners, LP*
		7.500%, 06/01/27			72,040
		Genesis Energy, LP / Genesis Energy Finance Corp.
31,000		8.875%, 04/15/30			32,454
18,000		6.250%, 05/15/26			17,930
		Gulfport Energy Corp.
40,000		8.000%, 05/17/26*			40,392
13,792		8.000%, 05/17/26			13,927
60,000		Hilcorp Energy I, LP / Hilcorp Finance Company*
		6.000%, 04/15/30			58,300
32,000		Howard Midstream Energy Partners, LLC*
		6.750%, 01/15/27			32,099
19,000		Kodiak Gas Services, LLC*
		7.250%, 02/15/29			19,224
44,000		Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
		6.000%, 08/01/26			43,517
		Moss Creek Resources Holdings, Inc.*
25,000		10.500%, 05/15/27			25,749
25,000		7.500%, 01/15/26			24,921
		Nabors Industries, Inc.*
35,000		7.375%, 05/15/27			34,629
15,000		9.125%, 01/31/30			15,306
35,000		Nabors Industries, Ltd.*
		7.500%, 01/15/28			32,068
40,000		New Fortress Energy, Inc.*
		6.750%, 09/15/25			39,533
30,000		Oceaneering International, Inc.
		6.000%, 02/01/28			29,412
45,000		Parkland Corp.*
		5.875%, 07/15/27			44,673
23,000		Patterson-UTI Energy, Inc.^
		5.150%, 11/15/29			22,224
12,000		Permian Resources Operating LLC*
		7.000%, 01/15/32			12,399
50,000		Plains All American Pipeline, LP‡
		9.751%, 02/01/36
		3 mo. USD LIBOR + 4.11%			49,540
60,000		Rockcliff Energy II, LLC*
		5.500%, 10/15/29			55,909
21,000		Southwestern Energy Company
		4.750%, 02/01/32			19,466
61,750		Transocean, Inc.*
		8.750%, 02/15/30			64,610
		Venture Global Calcasieu Pass, LLC*
30,000		6.250%, 01/15/30			30,083
10,000		4.125%, 08/15/31			8,859
10,000		3.875%, 08/15/29			8,939
		Venture Global LNG, Inc.*
55,000		8.375%, 06/01/31			55,728
35,000		8.125%, 06/01/28			35,446
20,000		9.875%, 02/01/32			21,039

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
20,000		9.500%, 02/01/29		$	21,264
		Vital Energy, Inc.
25,000		9.750%, 10/15/30			26,582
25,000		7.750%, 07/31/29*^			24,698
45,000		VOC Escrow, Ltd.*
		5.000%, 02/15/28			43,104
50,000		Weatherford International, Ltd.*
		8.625%, 04/30/30			51,207
					1,781,043
		Financials (2.1%)
65,000		Acrisure, LLC / Acrisure Finance, Inc.*
		8.250%, 02/01/29			65,237
67,000		Aethon United BR, LP / Aethon United Finance Corp.*
		8.250%, 02/15/26			66,836
30,000		AG Issuer, LLC*
		6.250%, 03/01/28			29,657
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
75,000		6.750%, 10/15/27			73,469
50,000		7.000%, 01/15/31			50,631
		Ally Financial, Inc.
49,000		4.700%, 02/01/36‡ ‡‡
		5 year CMT + 3.87%			39,810
20,000		8.000%, 11/01/31			22,149
20,000		4.700%, 02/01/36‡
		7 year CMT + 3.48%			15,298
86,000		AmWINS Group, Inc.*
		4.875%, 06/30/29			80,383
33,000		Aviation Capital Group, LLC*
		3.500%, 11/01/27			30,767
68,000		BroadStreet Partners, Inc.*
		5.875%, 04/15/29			64,562
50,000		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
		4.500%, 04/01/27			44,342
		Credit Acceptance Corp.
40,000		6.625%, 03/15/26^			40,053
30,000		9.250%, 12/15/28*			31,612
45,000		Cushman & Wakefield U.S. Borrower LLC*
		8.875%, 09/01/31			47,264
58,000		Enact Holdings, Inc.*
		6.500%, 08/15/25			57,905
50,000		GGAM Finance, Ltd.*
		8.000%, 02/15/27			51,601
56,000		Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*
		3.750%, 12/15/27			47,890
25,000		HAT Holdings I LLC / HAT Holdings II LLC*
		8.000%, 06/15/27			25,931
		HUB International, Ltd.*
66,000		5.625%, 12/01/29			62,316
23,000		7.375%, 01/31/32			23,541
31,000		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.
		4.375%, 02/01/29			25,939
100,000		ILFC E-Capital Trust II*‡
		7.436%, 12/21/65
		3 mo. USD LIBOR + 1.80%			79,262
90,000		Iron Mountain, Inc.*
		5.250%, 03/15/28			87,347
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*
88,000		5.250%, 10/01/25			86,596
47,000		4.750%, 06/15/29			42,096
40,000		LD Holdings Group, LLC*
		6.125%, 04/01/28			32,639
		Level 3 Financing, Inc.*
45,000		4.250%, 07/01/28			15,131
20,000		4.625%, 09/15/27			10,559
30,000		LPL Holdings, Inc.*
		4.000%, 03/15/29			27,667
40,000		Macquarie Airfinance Holdings, Ltd.*
		8.125%, 03/30/29			41,538
70,000		MetLife, Inc.
		6.400%, 12/15/66			71,518
60,000		Nationstar Mortgage Holdings, Inc.*
		5.500%, 08/15/28			57,161
		Navient Corp.
50,000		5.000%, 03/15/27			47,721
20,000		4.875%, 03/15/28^			18,191
30,000		Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*
		4.500%, 09/30/28			25,529
20,000		Newmark Group, Inc.*
		7.500%, 01/12/29			20,441
		OneMain Finance Corp.
30,000		9.000%, 01/15/29			31,625
30,000		3.875%, 09/15/28			26,365
22,000		7.125%, 03/15/26			22,312
23,000		Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
		5.875%, 10/01/28			22,519
73,000		PHH Mortgage Corp.*
		7.875%, 03/15/26			67,441
50,000		RHP Hotel Properties, LP / RHP Finance Corp.*
		4.500%, 02/15/29			46,517
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*
20,000		3.875%, 03/01/31			17,577
20,000		3.625%, 03/01/29			17,851
10,000		2.875%, 10/15/26			9,281
43,000		StoneX Group, Inc.*
		8.625%, 06/15/25			43,491
		United Wholesale Mortgage, LLC*
52,000		5.500%, 04/15/29			49,175
20,000		5.750%, 06/15/27			19,658
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
25,000		6.500%, 02/15/29			17,643
22,000		10.500%, 02/15/28			22,388
47,000		XHR, LP*
		6.375%, 08/15/25			47,078
					2,121,510
		Health Care (1.3%)
		Bausch Health Companies, Inc.*
95,000		11.000%, 09/30/28			65,296
16,000		14.000%, 10/15/30			9,054

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
16,000		6.125%, 02/01/27		$	10,155
		CHS/Community Health Systems, Inc.*
88,000		6.125%, 04/01/30			58,295
30,000		8.000%, 03/15/26			29,560
25,000		10.875%, 01/15/32			26,266
25,000		6.875%, 04/15/29			17,256
5,000		5.250%, 05/15/30			4,156
		DaVita, Inc.*
52,000		3.750%, 02/15/31			42,896
49,000		4.625%, 06/01/30			43,391
		Embecta Corp.*
33,000		5.000%, 02/15/30			27,038
11,000		6.750%, 02/15/30			9,706
		Encompass Health Corp.
20,000		4.750%, 02/01/30			18,800
20,000		4.500%, 02/01/28			19,133
52,000		HCA, Inc.
		7.500%, 11/06/33			58,713
200,000		Jazz Securities DAC*
		4.375%, 01/15/29			185,032
		Medline Borrower, LP*
55,000		3.875%, 04/01/29			49,860
53,000		5.250%, 10/01/29			49,460
200,000		Organon & Company / Organon Foreign Debt Co-Issuer, BV*
		5.125%, 04/30/31			172,278
62,000		Team Health Holdings, Inc.*
		6.375%, 02/01/25			52,415
		Tenet Healthcare Corp.
120,000		6.250%, 02/01/27			119,766
70,000		6.875%, 11/15/31			72,157
190,000		Teva Pharmaceutical Finance Netherlands III, BV
		3.150%, 10/01/26			177,380
					1,318,063
		Industrials (2.8%)
50,000		ACCO Brands Corp.*
		4.250%, 03/15/29			45,379
50,000		Air Lease Corp.‡
		4.125%, 02/01/36
		5 year CMT + 3.15%			42,378
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
75,000		4.625%, 01/15/27			72,812
30,000		5.875%, 02/15/28			29,985
40,000		Allegiant Travel Company*
		7.250%, 08/15/27			39,140
25,000		Arcosa, Inc.*
		4.375%, 04/15/29			23,463
200,000		ARD Finance, SA*
		6.500%, 06/30/27
		7.250% PIK rate			97,056
34,000		Beacon Roofing Supply, Inc.*
		4.125%, 05/15/29			30,829
		Bombardier, Inc.*
25,000		8.750%, 11/15/30			26,307
23,000		7.875%, 04/15/27			23,032
44,000		BWX Technologies, Inc.*
		4.125%, 04/15/29			40,836
48,000		Cascades, Inc. / Cascades USA, Inc.*
		5.375%, 01/15/28			47,106
11,000		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*
		4.750%, 10/20/28			10,827
58,000		Deluxe Corp.*
		8.000%, 06/01/29			52,251
43,000		Eco Material Technologies, Inc.*
		7.875%, 01/31/27			43,058
68,000		Emerald Debt Merger Sub, LLC*
		6.625%, 12/15/30			68,741
		EnerSys*
25,000		4.375%, 12/15/27			23,689
20,000		6.625%, 01/15/32			20,289
25,000		Graham Packaging Company, Inc.*
		7.125%, 08/15/28			22,463
		Graphic Packaging International, LLC*
30,000		4.750%, 07/15/27			29,228
20,000		3.500%, 03/01/29			18,089
51,000		Great Lakes Dredge & Dock Corp.*
		5.250%, 06/01/29			44,294
101,000		H&E Equipment Services, Inc.*
		3.875%, 12/15/28			91,789
59,000		Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*
		5.750%, 01/20/26			55,489
65,000		Herc Holdings, Inc.*
		5.500%, 07/15/27			63,889
50,000		IEA Energy Services, LLC*
		6.625%, 08/15/29			47,059
		JELD-WEN, Inc.*
34,000		4.625%, 12/15/25			33,253
25,000		4.875%, 12/15/27^			23,877
70,000		Ken Garff Automotive, LLC*
		4.875%, 09/15/28			65,414
45,000		Knife River Holding Company*
		7.750%, 05/01/31			47,343
11,000		MasTec, Inc.*^
		4.500%, 08/15/28			10,336
33,000		Moog, Inc.*
		4.250%, 12/15/27			30,942
55,000		Newfold Digital Holdings Group, Inc.*
		6.000%, 02/15/29			41,660
52,000		Novelis Corp.*
		4.750%, 01/30/30			48,294
15,000		OI European Group, BV*
		4.750%, 02/15/30			13,898
50,000		Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*^
		4.000%, 10/15/27			46,682
		Sealed Air Corp.*
35,000		6.125%, 02/01/28			35,191
11,000		5.000%, 04/15/29^			10,610
10,000		Sealed Air Corp./Sealed Air Corp. U.S.*^
		7.250%, 02/15/31			10,491
40,000		Sensata Technologies, Inc.*
		3.750%, 02/15/31			34,845
		Sinclair Television Group, Inc.*
33,000		4.125%, 12/01/30			25,530
20,000		5.500%, 03/01/30			15,424
50,000		Standard Industries, Inc.*
		5.000%, 02/15/27			48,636

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
35,000		Stericycle, Inc.*
		3.875%, 01/15/29		$	31,865
10,000		Summit Materials LLC / Summit Materials Finance Corp.*
		7.250%, 01/15/31			10,401
		TransDigm, Inc.
97,000		6.250%, 03/15/26*			96,541
45,000		6.875%, 12/15/30*			46,280
35,000		6.750%, 08/15/28*			35,618
32,000		7.500%, 03/15/27			32,105
15,000		7.125%, 12/01/31*			15,649
45,000		Tronox, Inc.*
		4.625%, 03/15/29			39,784
725,000		Uber Technologies, Inc.*
		8.000%, 11/01/26			738,521
17,249		United Airlines Pass Through Trust Series 2019-2, Class B
		3.500%, 11/01/29			15,775
44,000		Vertiv Group Corp.*
		4.125%, 11/15/28			40,980
46,000		Wabash National Corp.*
		4.500%, 10/15/28			41,950
35,000		Waste Pro USA, Inc.*
		5.500%, 02/15/26			34,010
		Williams Scotsman, Inc.*
27,000		4.625%, 08/15/28			25,494
20,000		7.375%, 10/01/31			20,971
					2,877,848
		Information Technology (0.8%)
11,000		Booz Allen Hamilton, Inc.*
		4.000%, 07/01/29			10,332
80,000		Clarivate Science Holdings Corp.*
		3.875%, 07/01/28			73,810
39,000		Clear Channel Worldwide Holdings, Inc.*^
		5.125%, 08/15/27			36,814
23,000		Coherent Corp.*
		5.000%, 12/15/29			21,542
40,000		CommScope Technologies, LLC*
		6.000%, 06/15/25			31,836
40,000		CommScope, Inc.*
		4.750%, 09/01/29			26,488
29,000		Dell International, LLC / EMC Corp.
		6.020%, 06/15/26			29,640
22,000		Dun & Bradstreet Corp.*^
		5.000%, 12/15/29			20,475
26,000		Fair Isaac Corp.*
		4.000%, 06/15/28			24,237
50,000		KBR, Inc.*
		4.750%, 09/30/28			46,131
		MPH Acquisition Holdings, LLC*
50,000		5.750%, 11/01/28			39,811
20,000		5.500%, 09/01/28			17,785
20,000		NCL Corp., Ltd.*
		8.125%, 01/15/29			20,996
22,000		NCR Voyix Corp.*
		5.125%, 04/15/29			20,717
34,000		ON Semiconductor Corp.*
		3.875%, 09/01/28			31,215
		Open Text Corp.*
39,000		3.875%, 02/15/28			36,256
20,000		6.900%, 12/01/27			20,790
16,000		3.875%, 12/01/29			14,449
16,000		Open Text Holdings, Inc.*^
		4.125%, 12/01/31			14,167
40,000		Playtika Holding Corp.*
		4.250%, 03/15/29			34,708
60,000		TTM Technologies, Inc.*
		4.000%, 03/01/29			54,298
		Twilio, Inc.
30,000		3.625%, 03/15/29			27,126
11,000		3.875%, 03/15/31			9,701
17,000		UKG, Inc.*
		6.875%, 02/01/31			17,210
55,000		Viavi Solutions, Inc.*
		3.750%, 10/01/29			47,941
50,000		ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*
		3.875%, 02/01/29			44,550
					773,025
		Materials (0.5%)
25,000		ArcelorMittal, SA
		7.000%, 10/15/39			27,294
27,000		ATI, Inc.
		5.875%, 12/01/27			26,586
12,000		Carpenter Technology Corp.
		7.625%, 03/15/30			12,418
35,000		Chemours Company*
		4.625%, 11/15/29			30,640
65,000		Clearwater Paper Corp.*
		4.750%, 08/15/28			61,034
34,000		Cleveland-Cliffs, Inc.*
		6.750%, 04/15/30			34,313
		Commercial Metals Company
22,000		4.125%, 01/15/30			20,135
11,000		4.375%, 03/15/32			9,847
23,000		HB Fuller Company
		4.250%, 10/15/28			21,456
40,000		JW Aluminum Continuous Cast Company*
		10.250%, 06/01/26			40,447
40,000		Kaiser Aluminum Corp.*
		4.625%, 03/01/28			36,886
10,000		LSF11 A5 HoldCo, LLC*
		6.625%, 10/15/29			8,526
		Mercer International, Inc.
58,000		5.125%, 02/01/29			49,797
20,000		12.875%, 10/01/28*			21,507
		Owens-Brockway Glass Container, Inc.*
35,000		7.250%, 05/15/31			35,333
25,000		6.625%, 05/13/27^			25,031
56,000		Silgan Holdings, Inc.
		4.125%, 02/01/28			52,759
21,000		Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
		5.125%, 04/01/29			8,253
					522,262
		Other (0.1%)
		Gen Digital, Inc.*
25,000		7.125%, 09/30/30^			25,943
25,000		6.750%, 09/30/27			25,419
					51,362
		Real Estate (0.1%)
34,000		EPR Properties
		3.750%, 08/15/29			30,319

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Forestar Group, Inc.*
38,000		5.000%, 03/01/28		$	36,145
21,000		3.850%, 05/15/26			19,972
50,000		MIWD Holdco II, LLC / MIWD Finance Corp.*
		5.500%, 02/01/30			45,565
20,000		Service Properties Trust^
		5.250%, 02/15/26			19,381
					151,382
		Special Purpose Acquisition Companies (0.1%)
		Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
45,000		6.750%, 01/15/30			40,508
23,000		4.625%, 01/15/29			21,200
50,000		W.R. Grace Holding, LLC*^
		7.375%, 03/01/31			50,946
					112,654
		Utilities (0.0%)
16,000		PPL Capital Funding, Inc.‡
		8.275%, 03/30/67
		3 mo. USD LIBOR + 2.67%			15,354
		Vistra Corp.*‡
20,000		7.000%, 02/01/68
		5 year CMT + 5.74%			19,524
10,000		8.000%, 02/01/68
		5 year CMT + 6.93%			10,046
					44,924
		Total Corporate Bonds
		(Cost $15,976,226)			14,882,034
Convertible Bonds (31.4%)
		Communication Services (2.0%)
44,000		Cable One, Inc.µ 03/15/26			37,801
580,000		Liberty Media Corp.-Liberty Formula One
		2.250%, 08/15/27			604,488
1,484,000		Sea, Ltd.
		2.375%, 12/01/25			1,416,433
					2,058,722
		Consumer Discretionary (7.1%)
145,000		Burlington Stores, Inc.
		2.250%, 04/15/25			156,130
50,000,000	JPY	Daiwa House Ind Company, Ltd.
		0.000%, 03/30/29			347,078
		DISH Network Corp.µ
63,000		0.000%, 12/15/25			45,092
53,000		2.375%, 03/15/24			51,964
800,000	AUD	Flight Centre Travel Group, Ltd.
		2.500%, 11/17/27			623,085
3,160,000		Ford Motor Company 03/15/26			3,080,147
730,000		IMAX Corp.µ
		0.500%, 04/01/26			650,014
685,000		Marriott Vacations Worldwide Corp.µ 01/15/26			607,650
500,000	GBP	WH Smith, PLCµ
		1.625%, 05/07/26			572,186
328,000		Winnebago Industries, Inc.*
		3.250%, 01/15/30			337,518
734,000		Wynn Macau, Ltd.*
		4.500%, 03/07/29			732,679
					7,203,543
		Consumer Staples (1.4%)
700,000	EUR	Fomento Economico Mexicano SAB de CV
		2.625%, 02/24/26			758,086
915,000	CAD	Premium Brands Holdings Corp.
		4.200%, 09/30/27			631,391
					1,389,477
		Energy (2.1%)
1,600,000	EUR	Eni S.p.A
		2.950%, 09/14/30			1,801,570
400,000		Nabors Industries, Inc.*µ
		1.750%, 06/15/29			296,052
					2,097,622
		Financials (2.1%)
12,000,000	HKD	Citigroup Global Markets Funding Luxembourg SCAµ
		0.000%, 07/25/24			1,494,561
930,000	EUR	Edenred
		0.000%, 09/06/24			618,800
					2,113,361
		Health Care (0.4%)
437,000		BioMarin Pharmaceutical, Inc.
		0.599%, 08/01/24			430,537
		Industrials (6.6%)
700,000	EUR	Prysmian S.p.A 02/02/26			837,609
1,600,000	EUR	Rheinmetall, AG
		1.875%, 02/07/28			2,051,290
560,000	EUR	Schneider Electric, SE 06/15/26			1,197,233
500,000	EUR	SPIE, SA
		2.000%, 01/17/28			586,831
329,000		Tetra Tech, Inc.*
		2.250%, 08/15/28			334,580
1,545,000		Uber Technologies, Inc.*~
		0.875%, 12/01/28			1,725,904
					6,733,447
		Information Technology (6.6%)
730,000		Akamai Technologies, Inc.*
		1.125%, 02/15/29			811,512
835,000		Block, Inc.µ
		0.125%, 03/01/25			805,558
817,000		Datadog, Inc.
		0.125%, 06/15/25			1,156,268
600,000	EUR	GlobalWafers GmbH
		1.500%, 01/23/29			660,345
7,000,000	HKD	Kingsoft Corp, Ltd.
		0.625%, 04/29/25			891,758
360,000		Rapid7, Inc.
		1.250%, 03/15/29			394,160
100,000,000	JPY	Rohm Company, Ltd.
		0.000%, 12/05/24			692,451
1,000,000		SK Hynix, Inc.
		1.750%, 04/11/30			1,318,530
					6,730,582
		Materials (1.9%)
1,000,000		Glencore Funding, LLC 03/27/25			1,032,020

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
600,000		LG Chem, Ltd.
		1.250%, 07/18/28		$	569,772
476,000		Lithium Americas Corp.^
		1.750%, 01/15/27			330,282
					1,932,074
		Other (0.0%)
20,000		Multiplan Corp.*µ
		6.000%, 10/15/27			14,008
		Real Estate (0.8%)
800,000	EUR	ANLLIAN Capital, Ltd. 02/05/25			841,381
		Utilities (0.4%)
350,000		CMS Energy Corp.*
		3.375%, 05/01/28			343,368
		Total Convertible Bonds
		(Cost $33,465,299)			31,888,122
Bank Loans (9.3%) ¡
		Airlines (0.0%)
31,500		Mileage Plus Holdings, LLC‡
		10.770%, 06/21/27
		3 mo. SOFR + 5.25%			32,507
		Communication Services (1.6%)
250,000		APi Group DE, Inc.‡
		7.951%, 01/03/29
		1 mo. SOFR + 2.50%			250,351
358,130		Charter Communications Operating LLC‡
		7.083%, 02/01/27
		1 mo. SOFR + 1.75%			357,414
43,000		Entercom Media Corp.‡
		8.149%, 11/18/24
		3 mo. SOFR + 2.50%			24,144
248,750		Go Daddy Operating Company, LLC‡
		7.333%, 11/09/29
		1 mo. SOFR + 2.00%			249,049
250,000		Match Group, Inc.‡
		7.270%, 02/13/27
		3 mo. SOFR + 1.75%			249,532
250,000		Nexstar Broadcasting, Inc.‡
		7.951%, 09/18/26
		1 mo. SOFR + 2.50%			250,061
250,000		Virgin Media Bristol, LLC‡
		7.948%, 01/31/28
		1 mo. SOFR + 2.50%			245,919
					1,626,470
		Consumer Discretionary (1.5%)
248,750		Aramark Services, Inc.‡
		7.947%, 06/22/30
		1 mo. SOFR + 2.50%			248,596
248,750		Carnival Corp.‡
		8.336%, 08/08/27
		1 mo. SOFR + 3.00%			249,185
298,465		KFC Holding Company‡
		7.196%, 03/15/28
		1 mo. SOFR + 1.75%			298,734
248,721		Murphy USA, Inc.‡
		7.217%, 01/31/28
		1 mo. SOFR + 1.75%			249,498
248,737		PENN Entertainment, Inc.‡
		8.183%, 05/03/29
		1 mo. SOFR + 2.75%			248,469
248,692		Station Casinos, LLC!
		7.683%, 02/08/27
		1 mo. SOFR + 2.25%			248,430
					1,542,912
		Consumer Staples (0.3%)
248,585		Jazz Financing Lux Sarl‡
		8.447%, 05/05/28
		1 mo. SOFR + 3.00%			248,740
		Financials (0.3%)
10,000		Advisor Group, Inc.‡
		9.833%, 08/17/28
		1 mo. SOFR + 4.50%			10,003
299,250		Avolon TLB Borrower 1 LLC‡
		7.337%, 06/22/28
		1 mo. SOFR + 2.00%			299,524
					309,527
		Health Care (2.0%)
180,981		Avantor Funding, Inc.‡
		7.683%, 11/08/27
		1 mo. SOFR + 2.25%			181,072
298,428		DaVita, Inc.‡
		7.197%, 08/12/26
		1 mo. SOFR + 1.75%			298,106
248,615		Elanco Animal Health, Inc.‡
		7.203%, 08/01/27
		1 mo. SOFR + 1.75%			244,144
597,885		ICON Luxembourg Sarl!
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			599,192
250,000		Organon & Company‡
		8.450%, 06/02/28
		1 mo. SOFR + 3.00%			250,040
249,369		Perrigo Investments, LLC‡
		7.683%, 04/20/29
		1 mo. SOFR + 2.25%			249,265
148,964		PRA Health Sciences, Inc.‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			149,289
					1,971,108
		Industrials (2.2%)
248,724		Beacon Roofing Supply, Inc.‡
		7.947%, 05/19/28
		1 mo. SOFR + 2.25%			249,430
289,870		Berry Global, Inc.‡
		7.202%, 07/01/29
		1 mo. SOFR + 1.75%			289,541
249,375		ChampionX Corp.‡
		8.187%, 06/07/29
		1 mo. SOFR + 2.75%			250,466
249,375		Emrld Borrower, LP‡
		8.313%, 05/31/30
		1 mo. SOFR + 3.00%			249,734
248,747		H.B. Fuller Company‡
		7.587%, 02/15/30
		1 mo. SOFR + 2.25%			249,135
248,724		Jeld-Wen, Inc.‡
		7.447%, 07/28/28
		1 mo. SOFR + 2.00%			248,693

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
248,737		Light and Wonder International, Inc.‡
		8.083%, 04/14/29
		1 mo. SOFR + 3.00%		$	248,737
248,747		TransDigm, Inc.‡
		8.598%, 08/24/28
		3 mo. SOFR + 3.25%			249,277
198,977		United Airlines, Inc.‡
		9.201%, 04/21/28
		1 mo. SOFR + 3.75%			199,615
					2,234,628
		Information Technology (0.9%)
45,845		Banff Merger Sub, Inc.‡
		9.583%, 12/29/28
		1 mo. SOFR + 4.25%			45,959
241,818		II-VI, Inc.‡
		8.087%, 07/02/29
		1 mo. SOFR + 2.75%			241,153
231,222		Open Text Corp.‡
		8.183%, 01/31/30
		1 mo. SOFR + 2.75%			231,570
147,488		SS&C Technologies, Inc.‡
		7.683%, 03/22/29
		1 mo. SOFR + 2.25%			147,660
75,789		SS&C Technologies, Inc.‡
		7.683%, 03/22/29
		1 mo. SOFR + 2.25%			75,877
159,200		TTM Technologies, Inc.‡
		8.103%, 05/30/30
		1 mo. SOFR + 2.75%			159,399
					901,618
		Materials (0.5%)
274,313		Axalta Coating Systems U.S. Holdings, Inc.‡
		7.848%, 12/20/29
		3 mo. SOFR + 2.50%			274,828
244,388		Chemours Company‡
		8.833%, 08/18/28
		1 mo. SOFR + 3.50%			244,143
					518,971
		Total Bank Loans
		(Cost $9,421,899)			9,386,481
NUMBER OF
SHARES					VALUE
Warrants (0.0%) #
		Energy (0.0%)
2,607		Mcdermott International, Ltd.&
		06/30/27, Strike $15.98			—
2,347		Mcdermott International, Ltd.&
		06/30/27, Strike $12.33			—
		Total Warrants
		(Cost $1,002)			—
Common Stocks (81.7%)
		Communication Services (5.2%)
11,800		Alphabet, Inc. - Class Aµ#			1,653,180
925		Altice USA, Inc. - Class A^#			2,257
1,050		Baidu, Inc. (ADR)µ#			110,575
310		Cumulus Media, Inc. - Class Aµ#			1,426
970	SEK	Hemnet Group, AB			26,188
1,250		Meta Platforms, Inc. - Class Aµ#			487,675
4,900	HKD	NetEase, Inc.µ			95,247
2,270		NetEase, Inc. (ADR)µ			221,643
715		Netflix, Inc.µ#			403,339
288	EUR	Scout24, SE*			21,206
27,000	HKD	Tencent Holdings, Ltd.µ			937,205
15,060		Tencent Holdings, Ltd. (ADR)^			524,690
12,080	GBP	Trustpilot Group, PLC*#			27,510
7,610		Walt Disney Companyµ~			730,940
1,120	GBP	YouGov, PLC			16,536
					5,259,617
		Consumer Discretionary (12.7%)
37,500	HKD	Alibaba Group Holding, Ltd.µ			336,337
1,745		Alibaba Group Holding, Ltd. (ADR)			125,937
5,360	PLN	Allegro.eu, SA*#			40,463
45,850	MXN	Alsea, SAB de CV#			179,894
25,200		Amazon.com, Inc.^µ~#			3,911,040
7,290	INR	Amber Enterprises India, Ltd.#			381,048
83,000	AED	Americana Restaurants International, PLC			70,279
9,604		Aptiv, PLCµ#			781,093
975	BRL	Arezzo Industria e Comercio, SA			12,317
3,400	CNY	BYD Company, Ltd. - Class A			81,077
5,700	CNY	China Tourism Group Duty Free Corp., Ltd. - Class A			63,462
225		Chipotle Mexican Grill, Inc.µ#			541,973
16,920	BRL	Cyrela Brazil Realty, SA Empreendimentos e Participacoes			76,363
4,300	INR	Dixon Technologies India, Ltd.			309,814
790	KRW	Hotel Shilla Company, Ltd.			34,411
28,821	INR	Indian Hotels Company, Ltd.			170,591
45,700	HKD	JD.com, Inc. - Class Aµ			515,319
48,000	HKD	Jiumaojiu International Holdings, Ltd.*µ			28,273
90,020	INR	Kalyan Jewellers India, Ltd.			382,070
33,500	HKD	Li Ning Company, Ltd.			71,567
1,110	EUR	LVMH Moet Hennessy Louis Vuitton, SEµ			923,585
8,310	INR	Mahindra & Mahindra, Ltd.			165,770
21,655		MakeMyTrip, Ltd.^µ#			1,199,470
1,175,400	IDR	Map Aktif Adiperkasa PT			72,252
4,780	HKD	Meituan - Class B*µ#			38,447
745		MercadoLibre, Inc.µ#			1,275,298
70,800	IDR	Mitra Adiperkasa Tbk PT			8,769
11,570		NIO, Inc. (ADR)#			65,023
11,200	HKD	Prada S.p.A.µ			69,454
4,871	EUR	Prosus, NV			144,069
64,000	HKD	Sands China, Ltd.#			167,985
23,500	INR	Tata Motors, Ltd.			250,277
625	INR	TVS Motor Company, Ltd.			15,023
3,250	HKD	Yum China Holdings, Inc.µ			111,819
23,000	HKD	Zhongsheng Group Holdings, Ltd.			38,825
154,520	INR	Zomato, Ltd.#			258,964
					12,918,358
		Consumer Staples (4.9%)
8,035	CHF	Aryzta, AG#			14,422
20,850	GBP	British American Tobacco, PLC			614,733
9,400		Coca-Cola Companyµ~			559,206
3,200		Constellation Brands, Inc. - Class Aµ			784,256
1,360		Costco Wholesale Corp.µ			945,037

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES				VALUE
21,400	MXN	Fomento Economico Mexicano, SAB de CV		$	289,789
700	CNY	Kweichow Moutai Company, Ltd. - Class A			156,680
44		Mallinckrodt, PLC#			1,683
5,900	CHF	Nestle, SAµ			672,308
24,592	BRL	Raia Drogasil, SA			125,581
18,000	JPY	Seven & i Holdings Company, Ltd.			710,907
26,000	HKD	Smoore International Holdings, Ltd.*			15,722
300	JPY	Toyo Suisan Kaisha, Ltd.			15,621
1,000	JPY	Yamazaki Baking Company, Ltd.			23,712
					4,929,657
		Energy (4.1%)
11,650	GBP	BP, PLC			68,041
24,200	CAD	Canadian Natural Resources, Ltd.µ			1,548,714
61		Chesapeake Energy Corp.µ			4,704
8,810		Chevron Corp.µ			1,298,858
3,045		Energy Transfer, LP			43,543
1,815		Enterprise Products Partners, LP			48,569
341		EP Energy Corp.&#			1,023
1		Gulfport Energy Corp.#			127
11,400		Helmerich & Payne, Inc.^µ			458,964
390		ONEOK, Inc.µ			26,618
46,000	THB	PTT Exploration & Production, PCL			193,803
9,900	INR	Reliance Industries, Ltd.			339,742
8,495		TechnipFMC, PLCµ			164,293
					4,196,999
		Financials (10.5%)
116,000	HKD	AIA Group, Ltd.			909,720
3,000		Aon, PLC - Class Aµ			895,290
49,400	BRL	B3, SA - Brasil Bolsa Balcao			130,520
19,180	BRL	Banco BTG Pactual, SA			139,445
2,194,740	IDR	Bank Mandiri Persero, Tbk PT			924,019
53,325		Bank of America Corp.µ~			1,813,583
8,800	JPY	Concordia Financial Group, Ltd.			41,936
29,304	AED	First Abu Dhabi Bank, PJSC			116,826
360		First Citizens BancShares Inc/NC- Class Aµ			543,600
5,095	KRW	Hana Financial Group, Inc.			182,184
39,340	INR	HDFC Bank, Ltd.			691,875
875	AUD	HUB24, Ltd.			21,145
35,025		Itau Unibanco Holding, SA (ADR)			231,165
3,425		JPMorgan Chase & Companyµ			597,183
42,800	THB	Kasikornbank PCL			143,561
1,170,000	GBP	Lloyds Banking Group, PLC			627,185
3,900	KRW	Meritz Financial Group, Inc.#			200,165
11,725		Morgan Stanleyµ			1,022,889
48,500	HKD	Ping An Insurance Group Company of China, Ltd. - Class H			203,872
5,180	AUD	Steadfast Group, Ltd.			20,043
2,206		Visa, Inc. - Class Aµ			602,812
10,945		Wells Fargo & Companyµ			549,220
					10,608,238
		Health Care (9.1%)
850	INR	Alkem Laboratories, Ltd.			51,135
2,100	INR	Apollo Hospitals Enterprise, Ltd.			159,800
6,125	GBP	AstraZeneca, PLC			812,033
3,900		Danaher Corp.µ			935,649
1,250	KRW	Dentium Company, Ltd.#			105,731
3,900		Eli Lilly & Companyµ			2,517,879
7,400	CNY	Gan & Lee Pharmaceuticals Company, Ltd. - Class A#			37,755
6,800	EUR	Gerresheimer, AG			693,253
1,310		Humana, Inc.µ			495,258
4,510	BRL	Hypera, SA			28,884
700	JPY	Jeol, Ltd.µ			32,000
28,100		Novo Nordisk, A/S (ADR)			3,224,194
48,000	HKD	Wuxi Biologics Cayman, Inc.*µ#			126,313
77	CHF	Ypsomed Holding, AG			27,180
					9,247,064
		Industrials (7.8%)
5,660	GBP	Ashtead Technology Holdings, PLC			47,131
7,450	CAD	Canadian Pacific Kansas City, Ltd.			599,513
2,340	CNY	Contemporary Amperex Technology Company, Ltd. - Class A			49,452
615	EUR	DO & CO, AGµ			85,737
450	JPY	Ebara Corp.µ			28,182
170	KRW	HD Hyundai Electric Company, Ltd.			13,019
12,120	INR	Hindustan Aeronautics, Ltd.			439,994
10,800	JPY	Hitachi, Ltd.µ			848,344
50,700	JPY	INFRONEER Holdings, Inc.			529,991
1,300	JPY	Japan Elevator Service Holdings Company, Ltd.			19,645
3,600	INR	KEI Industries, Ltd.			138,155
800	JPY	Keisei Electric Railway Company, Ltd.µ			36,200
20,400	JPY	Komatsu, Ltd.µ			580,379
1,000	JPY	Kyudenko Corp.µ			38,038
3,240	INR	Larsen & Toubro, Ltd.			135,653
2,180	EUR	Leonardo S.p.Aµ			38,050
94,900	GBP	Melrose Industries, PLC			707,336
5,510	SEK	Munters Group, AB*			87,946
8,700	CNY	Ningbo Orient Wires & Cables Company, Ltd. - Class A			42,821
293,500	GBP	Rolls-Royce Holdings, PLCµ#			1,114,258
44,100	CNY	Sany Heavy Industry Company, Ltd. - Class A			80,437
14,700	CNY	Shanghai International Airport Company, Ltd. - Class A#			67,870
700	JPY	Sojitz Corp.			16,521
743	CAD	Stantec, Inc.µ			59,702
15,710	INR	Titagarh Rail System, Ltd.			208,058
1,300		Veralto Corp.			99,697
16,500		Vertiv Holdings Companyµ			929,445
4,250		Waste Management, Inc.µ			788,927
49,700	CNY	Weichai Power Company, Ltd. - Class A			102,135
					7,932,636
		Information Technology (23.7%)
5,200	JPY	Advantest Corp.			206,949
3,545	TWD	Alchip Technologies, Ltd.			439,722
11,495		Apple, Inc.µ			2,119,678
3,710		ASML Holding, NV (ADR)µ			3,227,032
322	EUR	BE Semiconductor Industries, NV			48,390
10,000	TWD	E Ink Holdings, Inc.			66,317
203		Fabrinetµ#			43,343
12,700	CNY	Foxconn Industrial Internet Company, Ltd. - Class A			23,505
750	KRW	HPSP Company, Ltd.			25,140
4,100	CNY	Iflytek Company, Ltd. - Class A			21,814

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES				VALUE
3,000	JPY	Keyence Corp.µ		$	1,342,194
73,000	HKD	Kingdee International Software Group Company, Ltd.µ#			70,566
23,115	INR	KPIT Technologies, Ltd.			431,202
5,000	TWD	MediaTek, Inc.			154,288
8,780		Microsoft Corp.µ			3,490,752
370	EUR	Nemetschek, SE			34,141
6,920		NVIDIA Corp.µ			4,257,668
9,200		Oracle Corp.µ			1,027,640
2,000	GBP	Sage Group, PLC			29,776
5,480	KRW	Samsung Electronics Company, Ltd.			297,766
400	JPY	SCREEN Holdings Company, Ltd.µ			39,224
460		ServiceNow, Inc.µ#			352,084
100	JPY	SHIFT, Inc.#			18,027
4,950	CAD	Shopify, Inc. - Class Aµ#			396,273
4,000	TWD	Silergy Corp.			49,227
3,010	KRW	SK Hynix, Inc.			301,423
10,600	HKD	Sunny Optical Technology Group Company, Ltd.			65,152
188,000	TWD	Taiwan Semiconductor Manufacturing Company, Ltd.			3,763,477
6,890		Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)			778,294
10,080	BRL	TOTVS, SA			64,129
500	JPY	Towa Corp.			25,795
16,000	TWD	Unimicron Technology Corp.			89,764
15,520		Unity Software, Inc.µ#			502,848
24,000	CNY	Venustech Group, Inc. - Class A			61,850
78,600	HKD	Xiaomi Corp. - Class B*µ#			123,837
1,900	CNY	Zhongji Innolight Company, Ltd. - Class A			27,098
					24,016,385
		Materials (1.4%)
55,150	AED	Fertiglobe, PLC			41,892
15,350		Freeport-McMoRan, Inc.µ			609,241
950		Linde, PLC			384,589
5,575	ZAR	Sasol, Ltd.			48,423
1,065	EUR	SOL S.p.A^			30,651
700	JPY	Sumitomo Bakelite Company, Ltd.			34,788
5,250		Vale, SA (ADR)			71,873
158,000	HKD	Zijin Mining Group Company, Ltd.- Class H			234,451
					1,455,908
		Real Estate (1.9%)
179,500	PHP	Ayala Land, Inc.			108,473
135,535	MXN	Corp. Inmobiliaria Vesta SAB de CV			515,004
27,090	INR	DLF, Ltd.			259,688
68,470	INR	Macrotech Developers, Ltd.*			885,988
4,900	JPY	Mirarth Holdings, Inc.			16,419
4,465	INR	Prestige Estates Projects, Ltd.			67,607
225	EUR	VGP, NV			26,390
					1,879,569
		Special Purpose Acquisition Company (0.0%)
518		Intelsat Emergence, SA&#			14,115
		Utilities (0.4%)
6,836		NextEra Energy, Inc.µ			400,795
		Total Common Stocks
		(Cost $92,923,707)			82,859,341
Preferred Stocks (0.3%)
		Communication Services (0.0%)
		United States Cellular Corp.µ
530		5.500%, 06/01/70			9,725
505		5.500%, 03/01/70			9,348
					19,073
		Consumer Discretionary (0.0%)
305		Guitar Center, Inc.&#			25,010
		Energy (0.1%)
1,325		NuStar Energy, LP‡
		11.282%, 03/01/24
		3 mo. USD LIBOR + 5.64%			34,052
325		NuStar Energy, LP‡
		12.405%, 03/01/24
		3 mo. USD LIBOR + 6.77%			8,392
2,270		NuStar Logistics, LP‡
		12.310%, 01/15/43
		3 mo. USD Term SOFR + 7.00%			58,702
					101,146
		Industrials (0.2%)
83,730	BRL	Randon, SA Implementos e Participacoes‡
		4.972%			197,732
		Total Preferred Stocks
		(Cost $365,579)			342,961
Exchange-Traded Funds (1.2%)
		Other (1.2%)
45,865		Invesco Senior Loan ETF			963,624
6,150		iShares MSCI Saudi Arabia ETF^			256,147
		Total Exchange-Traded Funds
		(Cost $1,322,412)			1,219,771
Convertible Preferred Stocks (1.6%)
		Energy (0.0%)
1		Gulfport Energy Corp.&#
		10.000%,
		15.000% PIK rate			9,250
		Financials (1.3%)
21,400		Apollo Global Management, Inc.~
		6.750%, 07/31/26			1,250,188
		Utilities (0.3%)
8,700		NextEra Energy, Inc.
		6.926%, 09/01/25			323,727
		Total Convertible Preferred Stocks
		(Cost $1,532,459)			1,583,165

  

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
Purchased Options (0.9%) #
		Consumer Discretionary (0.2%)
410		MakeMyTrip, Ltd.
2,270,990		Call, 08/16/24, Strike $60.00		$	211,150
		Energy (0.0%)
390		Petroleo Brasileiro, SA
665,730		Call, 04/19/24, Strike $17.00			44,655
		Health Care (0.1%)
115		Boston Scientific Corp.
727,490		Call, 06/21/24, Strike $62.50			48,875
		Industrials (0.2%)
135		Uber Technologies, Inc.
881,145		Call, 01/17/25, Strike $57.50			212,963
		Materials (0.0%)
525		Cemex Sab De CV
434,700		Call, 07/19/24, Strike $8.00			36,750
		Other (0.4%)
144		Global X MSCI Argentina ETF
754,416		Call, 07/19/24, Strike $54.00			45,360
		Invesco QQQ Trust Series 1
522
21,765,834		Put, 02/16/24, Strike $399.78			64,989
190
7,922,430		Put, 12/20/24, Strike $344.78			152,760
835		iShares MSCI India ETF
4,165,815		Put, 02/16/24, Strike $47.00			4,175
		iShares MSCI India Small-Cap ETF
27
198,234		Put, 02/16/24, Strike $61.76			1,687
21
154,182		Put, 02/16/24, Strike $65.76			893
160		SPDR S&P 500 ETF Trust
7,726,080		Put, 12/20/24, Strike $410.00			119,360
					389,224
		Total Purchased Options
		(Cost $1,473,382)			943,617
TOTAL INVESTMENTS (141.1%)
(Cost $156,481,965)					143,105,492
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-16.8%)					(17,000,000	)
LIABILITIES, LESS OTHER ASSETS (-24.3%)					(24,666,637	)
NET ASSETS (100.0%)				$	101,438,855
Written Options (-0.1%) #
		Consumer Discretionary (-0.1%)
(148)		Amazon.com, Inc.
(2,296,960)		Call, 04/19/24, Strike $170.00			(59,940	)
		Financials (0.0%)
(30)		Aon, PLC
(895,290)		Call, 04/19/24, Strike $340.00			(4,350	)
		Information Technology (0.0%)
(92)		Oracle Corp.
(1,027,640)		Call, 04/19/24, Strike $120.00			(24,334	)
(155)		Unity Software, Inc.
(502,200)		Call, 05/17/24, Strike $42.00			(27,978	)
					(52,312	)
		Other (0.0%)
(144)		Global X MSCI Argentina ETF
(754,416)		Call, 07/19/24, Strike $60.00			(21,240	)
		Total Written Options
		(Premium $125,075)			(137,842	)

 

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 Funds. 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.
@	In default status and considered non-income producing.
^	Security, or portion of security, is on loan.
&	Illiquid security.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.
‡‡	Perpetual maturity.
µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $53,902,752.
~	Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options. The aggregate value of such securities is $2,553,721.
¡	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.
#	Non-income producing security.
ABBREVIATION
ADR	American Depositary Receipt

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

FOREIGN CURRENCY ABBREVIATIONS
AED	UAE Dirham
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CNY	Chinese Yuan Renminbi
EUR	European Monetary Unit
GBP	British Pound Sterling
HKD	Hong Kong Dollar
IDR	Indonesian Rupiah
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
PHP	Philippine Peso
PLN	Polish Zloty
SEK	Swedish Krona
THB	Thai Baht
TWD	New Taiwan Dollar
ZAR	South African Rand
Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The principal amount for such securities is shown in the respective foreign currency. 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.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Corporate Bonds		$	—			$	14,882,034			$	—			$	14,882,034
Convertible Bonds			—				31,888,122				—				31,888,122
Bank Loans			—				9,386,481				—				9,386,481
Common Stocks			53,562,734				29,296,607				—				82,859,341
Preferred Stocks			317,951				25,010				—				342,961
Exchange-Traded Funds			1,219,771				—				—				1,219,771
Convertible Preferred Stocks			1,573,915				9,250				—				1,583,165
Purchased Options			943,617				—				—				943,617
Total		$	57,617,988			$	85,487,504			$	—			$	143,105,492
Liabilities:
Written Options		$	137,842			$	—			$	—			$	137,842
Total		$	137,842			$	—			$	—			$	137,842

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Global Total Return Fund

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

CURRENCY EXPOSURE JANUARY 31, 2024
		Value				% of Total Investments
US Dollar		$	94,204,105				65.9	%
European Monetary Unit			11,398,617				8.0	%
Hong Kong Dollar			6,546,430				4.6	%
Indian Rupee			5,742,454				4.0	%
Japanese Yen			5,644,401				3.9	%
British Pound Sterling			4,636,725				3.2	%
New Taiwan Dollar			4,562,795				3.2	%
Canadian Dollar			3,235,593				2.3	%
South Korean Won			1,159,839				0.8	%
Indonesian Rupiah			1,005,040				0.7	%
Mexican Peso			984,687				0.7	%
Chinese Yuan Renminbi			815,956				0.6	%
Brazilian Real			774,971				0.5	%
Swiss Franc			713,910				0.5	%
Australian Dollar			664,273				0.5	%
Thai Baht			337,364				0.2	%
UAE Dirham			228,997				0.2	%
Swedish Krona			114,134				0.1	%
Philippine Peso			108,473				0.1	%
South African Rand			48,423				—	%
Polish Zloty			40,463				—	%
Total Investments Net of Written Options		$	142,967,650				100.0	%
Currency exposure may vary over time.

 

See accompanying Notes to Schedule of Investments

 

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
Asset Backed Security (0.0%)
		Other (0.0%)
145,000		SVC ABS, LLC Series 2023-1A, Class C*~
		6.700%, 02/20/53
		(Cost $134,032)		$	133,424
Corporate Bonds (33.2%)
		Airlines (0.2%)
172,088		Alaska Airlines Pass Through Trust Series 2020-1, Class A*
		4.800%, 02/15/29			167,049
80,546		Alaska Airlines Pass Through Trust Series 2020-1, Class B*~
		8.000%, 02/15/27			81,377
193,760		American Airlines Pass Through Trust Series 2021-1, Class B
		3.950%, 01/11/32			172,867
108,000		American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.*~
		5.500%, 04/20/26			107,021
182,500		British Airways Pass Through Trust Series 2021-1, Class B*~
		3.900%, 03/15/33			165,584
143,580		JetBlue Pass Through Trust Series 2020-1, Class B~
		7.750%, 05/15/30			144,817
					838,715
		Communication Services (2.2%)
200,000		Altice France Holding, SA*
		10.500%, 05/15/27			115,570
225,000		Altice France, SA*~
		5.500%, 10/15/29			166,187
225,000		APi Group DE, Inc.*~
		4.750%, 10/15/29			210,695
200,000		Ashtead Capital, Inc.*
		2.450%, 08/12/31			162,982
		Audacy Capital Corp.*@
231,000		6.750%, 03/31/29			9,325
91,000		6.500%, 05/01/27			3,883
162,000		Cincinnati Bell Telephone Company, LLC~
		6.300%, 12/01/28			143,686
180,000		Clear Channel Outdoor Holdings, Inc.*
		9.000%, 09/15/28			188,098
262,000		Consolidated Communications, Inc.*~
		6.500%, 10/01/28			228,283
		CSC Holdings, LLC*~
285,000		5.375%, 02/01/28			245,302
240,000		5.500%, 04/15/27			215,786
215,000		4.500%, 11/15/31			154,514
200,000		5.750%, 01/15/30			106,206
200,000		4.625%, 12/01/30			103,500
		Diamond Sports Group, LLC / Diamond Sports Finance Company*@
150,000		6.625%, 08/15/27			10,265
115,000		5.375%, 08/15/26			8,117
244,000		Directv Financing, LLC / Directv Financing Co-Obligor, Inc.*~
		5.875%, 08/15/27			232,012
195,000		Frontier California, Inc.
		6.750%, 05/15/27			188,598
		Frontier Communications Holdings, LLC*
123,000		5.000%, 05/01/28			113,650
48,000		8.750%, 05/15/30			49,186
202,000		Frontier Florida, LLC~@
		6.860%, 02/01/28			194,649
280,000		Frontier North, Inc.~@
		6.730%, 02/15/28			268,604
165,000		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*~
		3.500%, 03/01/29			149,444
		iHeartCommunications, Inc.
115,000		8.375%, 05/01/27			71,943
70,000		5.250%, 08/15/27*			54,427
230,000		LCPR Senior Secured Financing DAC*~
		6.750%, 10/15/27			223,031
151,589		Ligado Networks, LLC*
		15.500%, 11/01/23
		PIK rate			26,104
		Lumen Technologies, Inc.
135,000		7.600%, 09/15/39			35,928
90,000		4.000%, 02/15/27*			47,648
45,000		7.650%, 03/15/42			12,407
95,000		Match Group Holdings II, LLC*~
		3.625%, 10/01/31			81,374
160,000		Nexstar Media, Inc.*
		5.625%, 07/15/27			155,766
		Paramount Global
711,000		6.375%, 03/30/62~‡
		5 year CMT + 4.00%			635,371
180,000		4.900%, 08/15/44			142,398
63,000		Qwest Corp.
		7.250%, 09/15/25			61,756
595,000		Rogers Communications, Inc.*~‡
		5.250%, 03/15/82
		5 year CMT + 3.59%			567,493
		Scripps Escrow II, Inc.*
95,000		3.875%, 01/15/29~			82,638
48,000		5.375%, 01/15/31			36,904
195,000		Scripps Escrow, Inc.*
		5.875%, 07/15/27			175,988
		Sirius XM Radio, Inc.*
195,000		5.500%, 07/01/29			185,601
185,000		4.000%, 07/15/28~			168,087
90,000		3.125%, 09/01/26~			84,172
48,000		3.875%, 09/01/31~			40,082
175,000		Spanish Broadcasting System, Inc.*
		9.750%, 03/01/26			93,063
165,000		Sprint, LLC
		7.125%, 06/15/24			165,812
210,000		Stagwell Global, LLC*~
		5.625%, 08/15/29			192,786
190,000		Telesat Canada / Telesat, LLC*
		4.875%, 06/01/27			112,664
70,000		Time Warner Cable, LLC
		7.300%, 07/01/38			73,469

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
230,000		United States Cellular Corp.~
		6.700%, 12/15/33		$	237,146
135,000		Univision Communications, Inc.*~
		8.000%, 08/15/28			137,396
90,000		Viasat, Inc.*
		5.625%, 04/15/27			84,493
395,000		Vodafone Group, PLC~‡
		7.000%, 04/04/79
		U.S. 5 yr Swap + 4.87%			408,501
					7,662,990
		Consumer Discretionary (3.9%)
228,000		Abercrombie & Fitch Management Company*~
		8.750%, 07/15/25			232,170
185,000		Adams Homes, Inc.*
		9.250%, 10/15/28			189,610
230,000		Adient Global Holdings Company*~
		8.250%, 04/15/31			243,138
156,000		American Axle & Manufacturing, Inc.
		6.875%, 07/01/28			152,635
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
167,000		4.625%, 08/01/29			152,170
149,000		6.625%, 01/15/28			147,817
217,000		At Home Group, Inc.*
		4.875%, 07/15/28			95,947
		Bath & Body Works, Inc.~
254,000		6.694%, 01/15/27			258,234
145,000		6.875%, 11/01/35			145,083
200,000		Benteler International AG*~
		10.500%, 05/15/28			214,464
		Caesars Entertainment, Inc.*
118,000		4.625%, 10/15/29			107,858
93,000		8.125%, 07/01/27~			95,521
		Carnival Corp.*
92,000		7.625%, 03/01/26			93,492
89,000		4.000%, 08/01/28			82,551
12,000		7.000%, 08/15/29~			12,496
		Carvana Company*
39,000		14.000%, 06/01/31			34,815
33,000		13.000%, 06/01/30			29,424
22,000		12.000%, 12/01/28			19,538
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
750,000		4.750%, 03/01/30~			666,855
250,000		4.500%, 08/15/30~			217,300
220,000		6.375%, 09/01/29~			214,309
186,000		4.250%, 02/01/31~			157,004
96,000		4.750%, 02/01/32			82,436
96,000		CDI Escrow Issuer, Inc.*
		5.750%, 04/01/30			92,988
115,000		Cedar Fair, LP
		5.250%, 07/15/29			110,075
92,000		Churchill Downs, Inc.*
		6.750%, 05/01/31			93,320
		Dana, Inc.
155,000		4.250%, 09/01/30			135,679
140,000		4.500%, 02/15/32			120,568
		DISH DBS Corp.
190,000		5.125%, 06/01/29			70,855
140,000		5.250%, 12/01/26*			110,557
120,000		7.375%, 07/01/28			53,110
115,000		7.750%, 07/01/26			68,052
90,000		5.750%, 12/01/28*			60,711
186,000		DISH Network Corp.*
		11.750%, 11/15/27			194,264
200,000		Empire Resorts, Inc.*
		7.750%, 11/01/26			185,478
204,000		Everi Holdings, Inc.*
		5.000%, 07/15/29			187,711
190,000		Ford Motor Company~
		6.100%, 08/19/32			190,124
		Ford Motor Credit Company, LLC~
300,000		4.000%, 11/13/30			267,735
270,000		5.113%, 05/03/29			262,432
235,000		7.200%, 06/10/30			249,930
200,000		7.350%, 11/04/27			210,390
71,000		Gap, Inc.*
		3.875%, 10/01/31			58,675
90,000		General Motors Company
		5.200%, 04/01/45			81,665
		General Motors Financial Company, Inc.~‡
765,000		5.700%, 09/30/30^
		5 year CMT + 5.00%			704,947
395,000		6.500%, 09/30/28
		3 mo. USD LIBOR + 3.44%			369,929
		goeasy, Ltd.*
315,000		9.250%, 12/01/28~			335,724
177,000		4.375%, 05/01/26			169,371
100,000		Goodyear Tire & Rubber Company
		5.250%, 07/15/31			91,110
79,000		Group 1 Automotive, Inc.*~
		4.000%, 08/15/28			72,953
193,000		Guitar Center, Inc.*
		8.500%, 01/15/26			171,488
49,440		JetBlue Pass Through Trust Series 2019-2, Class B
		8.000%, 11/15/27			49,845
160,000		Kohl's Corp.
		5.550%, 07/17/45			109,187
185,000		LCM Investments Holdings II, LLC*~
		8.250%, 08/01/31			189,965
190,000		Liberty Interactive, LLC~
		8.250%, 02/01/30			101,509
179,000		Life Time, Inc.*
		8.000%, 04/15/26			181,073
90,000		Light & Wonder International, Inc.*~
		7.500%, 09/01/31			93,788
70,000		Lindblad Expeditions Holdings, Inc.*~
		9.000%, 05/15/28			72,807
123,000		Lindblad Expeditions, LLC*
		6.750%, 02/15/27			123,093
125,000		M/I Homes, Inc.
		3.950%, 02/15/30			112,108
		Macy's Retail Holdings, LLC
230,000		6.700%, 07/15/34*~			193,557
180,000		4.300%, 02/15/43			136,672
242,000		Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.*~
		4.875%, 05/01/29			224,678
110,000		Newell Brands, Inc.
		5.200%, 04/01/26			107,122
		Nordstrom, Inc.
90,000		5.000%, 01/15/44~			65,033

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED) 

 

PRINCIPAL
AMOUNT				VALUE
86,000		4.250%, 08/01/31		$	71,805
285,000		Patrick Industries, Inc.*
		4.750%, 05/01/29			262,858
215,000		PENN Entertainment, Inc.*
		4.125%, 07/01/29			184,937
250,000		PetSmart, Inc. / PetSmart Finance Corp.*~
		4.750%, 02/15/28			233,690
265,000		Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.*~
		5.625%, 09/01/29			199,746
95,000		QVC, Inc.
		5.450%, 08/15/34			63,132
90,000		Raising Cane's Restaurants, LLC*
		9.375%, 05/01/29			96,521
383,000		Rite Aid Corp.*~@
		8.000%, 11/15/26			290,961
92,000		Royal Caribbean Cruises, Ltd.*~
		7.250%, 01/15/30			95,936
270,000		Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed*~
		4.625%, 03/01/29			232,778
275,000		Six Flags Entertainment Corp.*~
		7.250%, 05/15/31			280,825
212,000		Sonic Automotive, Inc.*~
		4.625%, 11/15/29			192,032
147,000		Speedway Motorsports, LLC / Speedway Funding II, Inc.*
		4.875%, 11/01/27			139,550
450,000		Station Casinos, LLC*~
		4.500%, 02/15/28			424,633
		STL Holding Company, LLC*
145,000		7.500%, 02/15/26			147,693
46,000		8.750%, 02/15/29			46,843
107,000		Taylor Morrison Communities, Inc.*
		5.750%, 01/15/28			106,644
45,000		Viking Cruises, Ltd.*
		9.125%, 07/15/31			48,219
220,000		Vista Outdoor, Inc.*~
		4.500%, 03/15/29			216,333
175,000		ZF North America Capital, Inc.*~
		7.125%, 04/14/30			184,706
					13,644,987
		Consumer Staples (0.8%)
179,000		1375209 B.C., Ltd.*~
		9.000%, 01/30/28			173,879
290,000		Arrow Bidco, LLC*~
		10.750%, 06/15/25			300,443
180,000		B&G Foods, Inc.*
		8.000%, 09/15/28			187,940
218,000		Central Garden & Pet Company*
		4.125%, 04/30/31			193,059
213,000		Edgewell Personal Care Company*
		4.125%, 04/01/29			195,001
		Energizer Holdings, Inc.*
263,000		4.375%, 03/31/29~			238,157
48,000		6.500%, 12/31/27			47,846
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.
280,000		5.500%, 01/15/30~			274,114
120,000		5.125%, 02/01/28			119,068
70,000		5.750%, 04/01/33			69,412
395,000		Land O' Lakes, Inc.*~
		7.000%, 09/18/28			300,346
191,000		Performance Food Group, Inc.*~
		4.250%, 08/01/29			175,166
140,000		Pilgrim's Pride Corp.
		4.250%, 04/15/31			126,309
182,000		Prestige Brands, Inc.*~
		3.750%, 04/01/31			158,662
155,000		United Natural Foods, Inc.*
		6.750%, 10/15/28			130,433
293,000		Vector Group, Ltd.*~
		5.750%, 02/01/29			270,612
					2,960,447
		Energy (3.4%)
100,000		Antero Resources Corp.*
		5.375%, 03/01/30			95,511
192,000		Apache Corp.
		5.100%, 09/01/40			165,120
135,000		Buckeye Partners, LP
		5.850%, 11/15/43			111,510
270,000		Callon Petroleum Company*~
		7.500%, 06/15/30			284,623
96,000		Cheniere Energy, Inc.
		4.625%, 10/15/28			93,026
139,000		Chesapeake Energy Corp.*~
		6.750%, 04/15/29			140,699
256,000		Civitas Resources, Inc.*~
		8.750%, 07/01/31			273,226
		Continental Resources, Inc.*
135,000		2.875%, 04/01/32			110,273
95,000		5.750%, 01/15/31			94,588
150,000		DT Midstream, Inc.*~
		4.125%, 06/15/29			137,938
		Earthstone Energy Holdings, LLC*~
181,000		8.000%, 04/15/27			187,581
70,000		9.875%, 07/15/31			77,788
		Enbridge, Inc.~‡
945,000		7.375%, 01/15/83
		5 year CMT + 3.71%			946,663
920,000		5.750%, 07/15/80
		5 year CMT + 5.31%			862,362
		Energy Transfer, LP
560,000		6.500%, 11/15/26~‡
		5 year CMT + 5.69%			541,621
345,000		8.000%, 05/15/54~			357,241
170,000		9.669%, 02/16/24
		3 mo. USD LIBOR + 4.03%			167,103
125,000		8.586%, 11/01/66‡
		3 mo. SOFR + 3.28%			111,664
		EnLink Midstream Partners, LP~
835,000		9.756%, 03/04/24‡
		3 mo. SOFR + 4.37%			789,309
205,000		4.850%, 07/15/26			201,443
113,000		Enlink Midstream, LLC*
		6.500%, 09/01/30			115,785
		Enterprise Products Operating, LLC‡
205,000		5.250%, 08/16/77~
		3 mo. SOFR + 3.29%			198,184
185,000		8.638%, 08/16/77
		3 mo. SOFR + 3.25%			184,382

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
310,000		EQM Midstream Partners, LP*~
		7.500%, 06/01/27		$	319,033
196,000		Genesis Energy, LP / Genesis Energy Finance Corp.~
		8.875%, 04/15/30			205,190
255,000		Gulfport Energy Corp.*~
		8.000%, 05/17/26			257,499
265,000		Hilcorp Energy I, LP / Hilcorp Finance Company*~
		6.000%, 04/15/30			257,493
144,000		Howard Midstream Energy Partners, LLC*
		6.750%, 01/15/27			144,444
81,000		Kodiak Gas Services, LLC*
		7.250%, 02/15/29			81,954
186,000		Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.*
		6.000%, 08/01/26			183,960
		Moss Creek Resources Holdings, Inc.*
75,000		7.500%, 01/15/26			74,762
70,000		10.500%, 05/15/27			72,097
		Nabors Industries, Inc.*
135,000		7.375%, 05/15/27			133,568
70,000		9.125%, 01/31/30			71,427
135,000		Nabors Industries, Ltd.*
		7.500%, 01/15/28			123,692
180,000		New Fortress Energy, Inc.*~
		6.750%, 09/15/25			177,899
138,000		Oceaneering International, Inc.
		6.000%, 02/01/28			135,294
200,000		Parkland Corp.*~
		5.875%, 07/15/27			198,548
99,000		Patterson-UTI Energy, Inc.
		5.150%, 11/15/29			95,662
46,000		Permian Resources Operating LLC*
		7.000%, 01/15/32			47,531
750,000		Plains All American Pipeline, LP~‡
		9.751%, 03/04/24
		3 mo. SOFR + 4.37%			743,107
265,000		Rockcliff Energy II, LLC*~
		5.500%, 10/15/29			246,932
98,000		Southwestern Energy Company~
		4.750%, 02/01/32			90,843
261,250		Transocean, Inc.*~
		8.750%, 02/15/30			273,348
		Venture Global Calcasieu Pass, LLC*
115,000		6.250%, 01/15/30			115,319
45,000		4.125%, 08/15/31~			39,864
45,000		3.875%, 08/15/29~			40,225
		Venture Global LNG, Inc.*
230,000		8.375%, 06/01/31			233,043
140,000		8.125%, 06/01/28			141,784
90,000		9.875%, 02/01/32			94,677
90,000		9.500%, 02/01/29			95,689
		Vital Energy, Inc.
117,000		9.750%, 10/15/30			124,404
115,000		7.750%, 07/31/29*			113,612
280,000		VOC Escrow, Ltd.*~
		5.000%, 02/15/28			268,204
235,000		Weatherford International, Ltd.*~
		8.625%, 04/30/30			240,675
					11,689,419
		Financials (14.2%)
285,000		Acrisure, LLC / Acrisure Finance, Inc.*
		8.250%, 02/01/29			286,037
286,000		Aethon United BR, LP / Aethon United Finance Corp.*~
		8.250%, 02/15/26			285,299
128,000		AG Issuer, LLC*
		6.250%, 03/01/28			126,537
605,000		Aircastle, Ltd.*~‡
		5.250%, 06/15/26
		5 year CMT + 4.41%			532,497
		Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer*
315,000		6.750%, 10/15/27~			308,571
25,000		7.000%, 01/15/31			25,315
360,000		Allstate Corp.~‡
		8.579%, 08/15/53
		3 mo. SOFR + 3.20%			360,752
		Ally Financial, Inc.~‡
1,236,000		4.700%, 05/15/26
		5 year CMT + 3.87%			1,004,188
935,000		4.700%, 05/15/28
		7 year CMT + 3.48%			715,200
685,000		American International Group, Inc.~‡
		5.750%, 04/01/48
		3 mo. USD LIBOR + 2.87%			681,191
379,000		AmWINS Group, Inc.*~
		4.875%, 06/30/29			354,248
1,160,000		Ares Finance Company III, LLC*~‡
		4.125%, 06/30/51
		5 year CMT + 3.24%			1,049,719
141,000		Aviation Capital Group, LLC*~
		3.500%, 11/01/27			131,460
835,000		AXIS Specialty Finance, LLC~‡
		4.900%, 01/15/40
		5 year CMT + 3.19%			722,208
		Bank of America Corp.~‡
1,091,000		6.125%, 04/27/27^
		5 year CMT + 3.23%			1,091,142
340,000		5.125%, 06/20/24
		3 mo. SOFR + 3.55%			338,596
330,000		6.250%, 09/05/24
		3 mo. SOFR + 3.97%			329,832
330,000		6.100%, 03/17/25
		3 mo. SOFR + 4.16%			330,746
1,560,000		Bank of New York Mellon Corp.~‡
		4.700%, 09/20/25
		5 year CMT + 4.36%			1,540,188
		BP Capital Markets, PLC~‡
680,000		4.875%, 03/22/30
		5 year CMT + 4.40%			645,130
675,000		4.375%, 06/22/25
		5 year CMT + 4.04%			661,419
285,000		BroadStreet Partners, Inc.*~
		5.875%, 04/15/29			270,590
215,000		Brookfield Property REIT, Inc. / BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC*
		4.500%, 04/01/27			190,671

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED) 

 

PRINCIPAL
AMOUNT				VALUE
200,000		Burford Capital Global Financial, LLC*
		6.875%, 04/15/30		$	195,096
1,098,000		Capital One Financial Corp.~‡
		3.950%, 09/01/26
		5 year CMT + 3.16%			952,789
		Charles Schwab Corp.‡
675,000		5.375%, 06/01/25~^
		5 year CMT + 4.97%			666,994
433,000		4.000%, 12/01/30~
		10 year CMT + 3.08%			360,139
320,000		4.000%, 06/01/26
		5 year CMT + 3.17%			291,488
		Citigroup, Inc.~‡
1,141,000		3.875%, 02/18/26
		5 year CMT + 3.42%			1,055,140
445,000		4.000%, 12/10/25
		5 year CMT + 3.60%			417,530
395,000		4.150%, 11/15/26
		5 year CMT + 3.00%			351,341
350,000		7.625%, 11/15/28
		5 year CMT + 3.21%			358,655
335,000		5.950%, 05/15/25
		3 mo. SOFR + 4.17%			330,538
		Citizens Financial Group, Inc.~‡
1,115,000		4.000%, 10/06/26
		5 year CMT + 3.22%			979,427
365,000		5.650%, 10/06/25
		5 year CMT + 5.31%			357,149
710,000		Comerica, Inc.
		5.625%, 07/01/25
		5 year CMT + 5.29%			689,311
365,000		Corebridge Financial, Inc.~‡
		6.875%, 12/15/52
		5 year CMT + 3.85%			366,445
		Credit Acceptance Corp.
175,000		6.625%, 03/15/26			175,231
125,000		9.250%, 12/15/28*			131,717
180,000		Cushman & Wakefield U.S. Borrower LLC*
		8.875%, 09/01/31			189,058
500,000		Depository Trust & Clearing Corp.*~‡
		3.375%, 06/20/26
		5 year CMT + 2.61%			424,885
		Discover Financial Services~‡
660,000		6.125%, 06/23/25
		5 year CMT + 5.78%			647,770
650,000		5.500%, 10/30/27
		3 mo. SOFR + 3.34%			538,109
241,000		Enact Holdings, Inc.*~
		6.500%, 08/15/25			240,605
635,000		Enstar Finance, LLC~‡
		5.500%, 01/15/42
		5 year CMT + 4.01%			559,587
1,500,000		Fifth Third Bancorp~‡
		4.500%, 09/30/25
		5 year CMT + 4.22%			1,420,020
160,000		First Citizens BancShares, Inc.‡
		9.618%, 01/04/27
		3 mo. SOFR + 4.23%			163,774
210,000		GGAM Finance, Ltd.*~
		8.000%, 02/15/27			216,726
238,000		Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP*~
		3.750%, 12/15/27			203,530
		Goldman Sachs Group, Inc.~‡
715,000		4.400%, 02/10/25
		5 year CMT + 2.85%			681,652
442,000		4.125%, 11/10/26
		5 year CMT + 2.95%			402,644
351,000		7.500%, 02/10/29
		5 year CMT + 3.16%			368,827
200,000		GTCR W-2 Merger Sub, LLC*~
		7.500%, 01/15/31			208,546
95,000		HAT Holdings I LLC / HAT Holdings II LLC*
		8.000%, 06/15/27			98,539
		HUB International, Ltd.*
276,000		5.625%, 12/01/29~			260,594
92,000		7.375%, 01/31/32			94,166
		Huntington Bancshares, Inc.~‡
940,000		4.450%, 10/15/27
		7 year CMT + 4.05%			849,262
505,000		5.625%, 07/15/30
		10 year CMT + 4.95%			468,625
144,000		Icahn Enterprises, LP / Icahn Enterprises Finance Corp.~
		4.375%, 02/01/29			120,489
510,000		ILFC E-Capital Trust II*~‡
		7.436%, 12/21/65
		3 mo. SOFR + 2.06%			404,236
380,000		Iron Mountain, Inc.*~
		5.250%, 03/15/28			368,798
525,000		Jefferies Finance, LLC / JFIN Co-Issuer Corp.*~
		5.000%, 08/15/28			474,022
		JPMorgan Chase & Company‡
2,585,000		3.650%, 06/01/26^
		5 year CMT + 2.85%			2,387,920
330,000		6.125%, 04/30/24
		3 mo. SOFR + 3.59%			330,716
430,000		KeyCorp~‡
		5.000%, 09/15/26
		3 mo. SOFR + 3.87%			383,779
		Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.*~
379,000		5.250%, 10/01/25			372,955
195,000		4.750%, 06/15/29			174,654
175,000		LD Holdings Group, LLC*
		6.125%, 04/01/28			142,796
		Level 3 Financing, Inc.*
200,000		4.250%, 07/01/28~			67,250
90,000		4.625%, 09/15/27			47,515
1,085,000		Liberty Mutual Group, Inc.*~‡
		4.125%, 12/15/51
		5 year CMT + 3.32%			950,503
139,000		LPL Holdings, Inc.*~
		4.000%, 03/15/29			128,190
		M&T Bank Corp.‡
355,000		6.450%, 05/15/24~
		3 mo. SOFR + 3.87%			353,882
200,000		5.125%, 11/01/26
		3 mo. USD LIBOR + 3.52%			182,638
200,000		5.000%, 08/01/24
		5 year CMT + 3.17%			190,946
185,000		Macquarie Airfinance Holdings, Ltd.*
		8.125%, 03/30/29			192,115
118,923		Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC*
		14.750%, 11/14/28			129,682

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust 

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
670,000		Markel Corp.~‡
		6.000%, 06/01/25
		5 year CMT + 5.66%		$	664,627
		MetLife, Inc.~
792,000		6.400%, 12/15/66			809,171
605,000		3.850%, 09/15/25‡
		5 year CMT + 3.58%			580,479
255,000		Nationstar Mortgage Holdings, Inc.*~
		5.500%, 08/15/28			242,936
		Navient Corp.
197,000		5.000%, 03/15/27			188,019
100,000		4.875%, 03/15/28			90,956
125,000		Necessity Retail REIT, Inc. / American Finance Operating Partner, LP*~
		4.500%, 09/30/28			106,372
95,000		Newmark Group, Inc.*
		7.500%, 01/12/29			97,094
545,000		Northern Trust Corp.~‡
		4.600%, 10/01/26
		3 mo. SOFR + 3.46%			522,873
		OneMain Finance Corp.
130,000		9.000%, 01/15/29~			137,041
130,000		3.875%, 09/15/28~			114,247
95,000		7.125%, 03/15/26			96,349
98,000		Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer*
		5.875%, 10/01/28			95,950
1,148,000		PartnerRe Finance B, LLC~‡
		4.500%, 10/01/50
		5 year CMT + 3.82%			1,028,287
295,000		PHH Mortgage Corp.*~
		7.875%, 03/15/26			272,536
		PNC Financial Services Group, Inc.~‡
735,000		3.400%, 09/15/26
		5 year CMT + 2.60%			634,900
375,000		6.000%, 05/15/27
		5 year CMT + 3.00%			359,419
360,000		6.200%, 09/15/27
		5 year CMT + 3.24%			353,430
650,000		Progressive Corp.‡
		8.185%, 02/22/24
		3 mo. SOFR + 2.80%			650,286
785,000		QBE Insurance Group, Ltd.*~‡
		5.875%, 05/12/25
		5 year CMT + 5.51%			773,602
220,000		RHP Hotel Properties, LP / RHP Finance Corp.*~
		4.500%, 02/15/29			204,673
		Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.*~
85,000		3.875%, 03/01/31			74,701
85,000		3.625%, 03/01/29			75,865
45,000		2.875%, 10/15/26			41,763
199,000		StoneX Group, Inc.*~
		8.625%, 06/15/25			201,275
		Truist Financial Corp.~‡
700,000		4.800%, 09/01/24
		5 year CMT + 3.00%			669,585
685,000		4.950%, 09/01/25
		5 year CMT + 4.61%			667,567
256,000		5.100%, 03/01/30
		10 year CMT + 4.35%			237,289
765,000		U.S. Bancorp~‡
		5.300%, 04/15/27
		3 mo. SOFR + 3.18%			720,125
		United Wholesale Mortgage, LLC*~
221,000		5.500%, 04/15/29			208,995
90,000		5.750%, 06/15/27			88,460
		Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC*
93,000		10.500%, 02/15/28			94,641
90,000		6.500%, 02/15/29~			63,513
210,000		VZ Secured Financing, BV*~
		5.000%, 01/15/32			183,637
		Wells Fargo & Company~‡
1,480,000		3.900%, 03/15/26
		5 year CMT + 3.45%			1,388,196
1,340,000		7.625%, 09/15/28
		5 year CMT + 3.61%			1,410,457
208,000		XHR, LP*~
		6.375%, 08/15/25			208,343
					49,458,190
		Health Care (1.0%)
		Bausch Health Companies, Inc.*
318,000		11.000%, 09/30/28~			218,571
72,000		6.125%, 02/01/27			45,698
62,000		14.000%, 10/15/30			35,086
		CHS/Community Health Systems, Inc.*
377,000		6.125%, 04/01/30~			249,740
108,000		6.875%, 04/15/29~			74,548
104,000		8.000%, 03/15/26			102,473
90,000		10.875%, 01/15/32			94,557
24,000		5.250%, 05/15/30			19,950
		DaVita, Inc.*
222,000		3.750%, 02/15/31~			183,132
197,000		4.625%, 06/01/30			174,449
		Embecta Corp.*
144,000		5.000%, 02/15/30~			117,985
48,000		6.750%, 02/15/30			42,353
		Encompass Health Corp.~
100,000		4.750%, 02/01/30			94,001
100,000		4.500%, 02/01/28			95,665
200,000		Jazz Securities DAC*~
		4.375%, 01/15/29			185,032
		Medline Borrower, LP*~
233,000		5.250%, 10/01/29			217,436
230,000		3.875%, 04/01/29			208,504
350,000		Organon & Company / Organon Foreign Debt Co-Issuer, BV*~
		5.125%, 04/30/31			301,487
470,000		Tenet Healthcare Corp.~
		6.875%, 11/15/31			484,485
		Teva Pharmaceutical Finance Netherlands III, BV
230,000		5.125%, 05/09/29~			222,003
200,000		4.750%, 05/09/27~			193,500
115,000		3.150%, 10/01/26			107,362
					3,468,017
		Industrials (3.0%)
220,000		ACCO Brands Corp.*~
		4.250%, 03/15/29			199,665
800,000		AerCap Holdings, NV~‡
		5.875%, 10/10/79
		5 year CMT + 4.54%			794,760

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Air Lease Corp.~‡
885,000		4.125%, 12/15/26
		5 year CMT + 3.15%		$	750,091
810,000		4.650%, 06/15/26
		5 year CMT + 4.08%			749,161
		Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC*
315,000		4.625%, 01/15/27~			305,811
145,000		5.875%, 02/15/28			144,926
175,000		Allegiant Travel Company*~
		7.250%, 08/15/27			171,237
108,000		Arcosa, Inc.*
		4.375%, 04/15/29			101,358
740,000		ARD Finance, SA*~
		6.500%, 06/30/27
		7.250% PIK rate			359,107
151,000		Beacon Roofing Supply, Inc.*
		4.125%, 05/15/29			136,918
		Bombardier, Inc.*
90,000		8.750%, 11/15/30			94,705
90,000		7.875%, 04/15/27			90,124
191,000		BWX Technologies, Inc.*
		4.125%, 04/15/29			177,267
185,000		Cascades, Inc. / Cascades USA, Inc.*
		5.375%, 01/15/28			181,555
48,000		Delta Air Lines, Inc. / SkyMiles IP, Ltd.*~
		4.750%, 10/20/28			47,247
245,000		Deluxe Corp.*~
		8.000%, 06/01/29			220,716
188,000		Eco Material Technologies, Inc.*~
		7.875%, 01/31/27			188,256
92,000		Emerald Debt Merger Sub, LLC*
		6.625%, 12/15/30			93,003
		EnerSys*
90,000		6.625%, 01/15/32			91,300
85,000		4.375%, 12/15/27			80,541
118,000		Graham Packaging Company, Inc.*
		7.125%, 08/15/28			106,025
88,000		Graphic Packaging International, LLC*
		3.500%, 03/01/29			79,592
203,000		Great Lakes Dredge & Dock Corp.*
		5.250%, 06/01/29			176,308
443,000		H&E Equipment Services, Inc.*~
		3.875%, 12/15/28			402,598
236,000		Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.*~
		5.750%, 01/20/26			221,958
290,000		Herc Holdings, Inc.*~
		5.500%, 07/15/27			285,044
220,000		IEA Energy Services, LLC*~
		6.625%, 08/15/29			207,060
		JELD-WEN, Inc.*
110,000		4.625%, 12/15/25			107,582
95,000		4.875%, 12/15/27			90,731
305,000		Ken Garff Automotive, LLC*~
		4.875%, 09/15/28			285,019
185,000		Knife River Holding Company*~
		7.750%, 05/01/31			194,631
51,000		MasTec, Inc.*
		4.500%, 08/15/28			47,920
107,000		Moog, Inc.*~
		4.250%, 12/15/27			100,327
230,000		Newfold Digital Holdings Group, Inc.*~
		6.000%, 02/15/29			174,216
172,000		Novelis Corp.*~
		4.750%, 01/30/30			159,742
70,000		OI European Group, BV*
		4.750%, 02/15/30			64,856
225,000		Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC*~
		4.000%, 10/15/27			210,071
		Sealed Air Corp.*
144,000		6.125%, 02/01/28			144,786
48,000		5.000%, 04/15/29			46,300
50,000		Sealed Air Corp./Sealed Air Corp. U.S.*
		7.250%, 02/15/31			52,454
98,000		Sensata Technologies, Inc.*
		3.750%, 02/15/31			85,370
		Sinclair Television Group, Inc.*
141,000		4.125%, 12/01/30~			109,083
100,000		5.500%, 03/01/30			77,120
195,000		Standard Industries, Inc.*
		5.000%, 02/15/27			189,682
315,000		Stanley Black & Decker, Inc.~‡
		4.000%, 03/15/60
		5 year CMT + 2.66%			275,319
150,000		Stericycle, Inc.*~
		3.875%, 01/15/29			136,563
45,000		Summit Materials LLC / Summit Materials Finance Corp.*
		7.250%, 01/15/31			46,805
		TransDigm, Inc.
195,000		6.875%, 12/15/30*~			200,548
140,000		6.750%, 08/15/28*			142,474
135,000		7.500%, 03/15/27~			135,444
103,000		6.250%, 03/15/26*			102,513
70,000		7.125%, 12/01/31*			73,028
186,000		Tronox, Inc.*~
		4.625%, 03/15/29			164,439
70,780		United Airlines Pass Through Trust Series 2019-2, Class B
		3.500%, 11/01/29			64,730
187,000		Vertiv Group Corp.*~
		4.125%, 11/15/28			174,166
201,000		Wabash National Corp.*
		4.500%, 10/15/28			183,302
150,000		Waste Pro USA, Inc.*
		5.500%, 02/15/26			145,757
		Williams Scotsman, Inc.*
107,000		4.625%, 08/15/28~			101,030
90,000		7.375%, 10/01/31			94,368
					10,636,709
Information Technology (0.8%)
46,000		Booz Allen Hamilton, Inc.*
		4.000%, 07/01/29			43,209
112,000		Coherent Corp.*~
		5.000%, 12/15/29			104,903
194,000		CommScope Technologies, LLC*
		6.000%, 06/15/25			154,405
175,000		CommScope, Inc.*~
		4.750%, 09/01/29			115,883

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
96,000		Dun & Bradstreet Corp.*
		5.000%, 12/15/29		$	89,347
56,000		Fair Isaac Corp.*
		4.000%, 06/15/28			52,203
210,000		KBR, Inc.*
		4.750%, 09/30/28			193,750
		MPH Acquisition Holdings, LLC*~
210,000		5.750%, 11/01/28			167,208
95,000		5.500%, 09/01/28			84,478
93,000		NCL Corp., Ltd.*
		8.125%, 01/15/29			97,631
96,000		NCR Voyix Corp.*
		5.125%, 04/15/29			90,400
143,000		ON Semiconductor Corp.*~
		3.875%, 09/01/28			131,288
		Open Text Corp.*~
129,000		3.875%, 02/15/28			119,922
90,000		6.900%, 12/01/27			93,556
72,000		3.875%, 12/01/29			65,023
72,000		Open Text Holdings, Inc.*~
		4.125%, 12/01/31			63,750
172,000		Playtika Holding Corp.*~
		4.250%, 03/15/29			149,243
265,000		TTM Technologies, Inc.*~
		4.000%, 03/01/29			239,817
		Twilio, Inc.~
130,000		3.625%, 03/15/29			117,545
47,000		3.875%, 03/15/31			41,449
69,000		UKG, Inc.*
		6.875%, 02/01/31			69,852
205,000		Viavi Solutions, Inc.*
		3.750%, 10/01/29			178,690
220,000		ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.*~
		3.875%, 02/01/29			196,020
					2,659,572
Materials (0.7%)
150,000		ArcelorMittal, SA~
		7.000%, 10/15/39			163,765
90,000		ATI, Inc.
		5.875%, 12/01/27			88,620
46,000		Carpenter Technology Corp.~
		7.625%, 03/15/30			47,604
145,000		Chemours Company*~
		4.625%, 11/15/29			126,937
300,000		Clearwater Paper Corp.*~
		4.750%, 08/15/28			281,697
139,000		Cleveland-Cliffs, Inc.*
		6.750%, 04/15/30			140,282
		Commercial Metals Company
96,000		4.125%, 01/15/30			87,861
48,000		4.375%, 03/15/32			42,969
250,000		Constellium, SE*~
		3.750%, 04/15/29			225,395
96,000		HB Fuller Company
		4.250%, 10/15/28			89,555
165,000		Kaiser Aluminum Corp.*
		4.625%, 03/01/28			152,155
53,000		LSF11 A5 HoldCo, LLC*
		6.625%, 10/15/29			45,187
		Mercer International, Inc.
244,000		5.125%, 02/01/29~			209,491
90,000		12.875%, 10/01/28*			96,783
200,000		OCI, NV*~
		6.700%, 03/16/33			199,968
		Owens-Brockway Glass Container, Inc.*
135,000		7.250%, 05/15/31			136,282
100,000		6.625%, 05/13/27			100,124
80,000		Silgan Holdings, Inc.~
		4.125%, 02/01/28			75,370
96,000		Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.*
		5.125%, 04/01/29			37,726
					2,347,771
Other (0.1%)
		Gen Digital, Inc.*
90,000		7.125%, 09/30/30			93,396
90,000		6.750%, 09/30/27			91,506
					184,902
Real Estate (0.2%)
152,000		EPR Properties
		3.750%, 08/15/29			135,541
		Forestar Group, Inc.*
139,000		5.000%, 03/01/28			132,214
97,000		3.850%, 05/15/26			92,254
211,000		MIWD Holdco II, LLC / MIWD Finance Corp.*~
		5.500%, 02/01/30			192,284
95,000		Service Properties Trust
		5.250%, 02/15/26			92,061
					644,354
Special Purpose Acquisition Companies (0.1%)
		Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.*
185,000		6.750%, 01/15/30~			166,535
96,000		4.625%, 01/15/29			88,486
					255,021
Utilities (2.6%)
910,000		Algonquin Power & Utilities Corp.~‡
		4.750%, 01/18/82
		5 year CMT + 3.25%			791,272
200,000		American Electric Power Company, Inc.‡
		3.875%, 02/15/62
		5 year CMT + 2.68%			175,548
590,000		CMS Energy Corp.~‡
		4.750%, 06/01/50
		5 year CMT + 4.12%			533,041
		Dominion Energy, Inc.~‡
580,000		4.650%, 12/15/24
		5 year CMT + 2.99%			561,243
367,000		4.350%, 01/15/27
		5 year CMT + 3.20%			334,102
		Duke Energy Corp.~‡
800,000		4.875%, 09/16/24
		5 year CMT + 3.39%			794,000
368,000		3.250%, 01/15/82
		5 year CMT + 2.32%			301,149
655,000		Emera, Inc.~‡
		6.750%, 06/15/76
		3 mo. USD LIBOR + 5.44%			646,282

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		National Rural Utilities Cooperative Finance Corp.~‡
712,000		7.125%, 09/15/53
		5 year CMT + 3.53%		$	738,038
385,000		5.250%, 04/20/46
		3 mo. USD LIBOR + 3.63%			372,688
770,000		NextEra Energy Capital Holdings, Inc.~‡
		3.800%, 03/15/82
		5 year CMT + 2.55%			676,868
434,000		PPL Capital Funding, Inc.~‡
		8.275%, 03/30/67
		3 mo. SOFR + 2.93%			416,471
		Sempra~‡
560,000		4.875%, 10/15/25
		5 year CMT + 4.55%			549,847
240,000		4.125%, 04/01/52
		5 year CMT + 2.87%			212,947
		Southern Company~‡
1,028,000		4.000%, 01/15/51
		5 year CMT + 3.73%			989,378
280,000		3.750%, 09/15/51
		5 year CMT + 2.92%			261,842
		Vistra Corp.*‡
305,000		7.000%, 12/15/26~
		5 year CMT + 5.74%			297,741
185,000		8.000%, 10/15/26
		5 year CMT + 6.93%			185,857
205,000		WEC Energy Group, Inc.‡
		7.754%, 05/15/67
		3 mo. SOFR + 2.37%			194,250
					9,032,564
		Total Corporate Bonds
		(Cost $122,567,583)			115,483,658
Convertible Bonds (0.2%)
Communication Services (0.1%)
183,000		Cable One, Inc.µ
		0.000%, 03/15/26			157,217
Consumer Discretionary (0.1%)
		DISH Network Corp.µ
166,000		2.375%, 03/15/24			162,755
272,000		0.000%, 12/15/25			194,684
					357,439
Other (0.0%)
95,000		Multiplan Corp.*µ
		6.000%, 10/15/27			66,540
		Total Convertible Bonds
		(Cost $596,513)			581,196
Bank Loans (2.7%) ¡
Airlines (0.1%)
140,250		American Airlines, Inc.‡
		10.329%, 04/20/28
		3 mo. SOFR + 4.75%			143,922
129,500		Mileage Plus Holdings, LLC‡
		10.770%, 06/21/27
		3 mo. SOFR + 5.25%			133,641
					277,563
Communication Services (0.2%)
48,730		Clear Channel Outdoor Holdings, Inc.‡
		9.074%, 08/21/26
		3 mo. SOFR + 3.50%			48,247
297,432		DirecTV Financing, LLC!
		0.000%, 08/02/29			297,681
284,000		Entercom Media Corp.‡&
		8.149%, 11/18/24
		3 mo. SOFR + 2.50%			159,461
90,000		Telesat Canada‡
		8.400%, 12/07/26
		3 mo. SOFR + 2.75%			55,249
					560,638
Consumer Discretionary (0.5%)
144,000		American Axle & Manufacturing, Inc.‡
		8.936%, 12/13/29
		1 mo. SOFR + 3.50%			144,271
178,650		Caesars Entertainment, Inc.‡
		8.663%, 02/06/30
		3 mo. SOFR + 3.25%			178,793
209,466		Carnival Corp.‡
		8.697%, 10/18/28
		1 mo. SOFR + 3.25%			209,760
184,075		Carnival Corp.‡
		8.336%, 08/08/27
		1 mo. SOFR + 3.00%			184,397
188,575		Hanesbrands, Inc.‡
		9.083%, 03/08/30
		1 mo. SOFR + 3.75%			187,868
109,382		Life Time Fitness, Inc.‡
		9.824%, 01/15/26
		3 mo. SOFR + 4.25%			110,148
109,050		Petco Health & Wellness Company, Inc.‡
		8.860%, 03/03/28
		3 mo. SOFR + 3.25%			102,656
311,841		PetSmart, Inc.‡
		9.183%, 02/11/28
		1 mo. SOFR + 3.75%			310,835
124,057		TKC Holdings, Inc.‡
		10.947%, 05/15/28
		1 mo. SOFR + 5.50%			120,304
184,888		Windsor Holdings III, LLC‡
		9.848%, 08/01/30
		1 mo. SOFR + 4.50%			185,376
					1,734,408
Consumer Staples (0.2%)
382,823		Amneal Pharmaceuticals, LLC‡
		10.833%, 05/04/28
		1 mo. SOFR + 5.50%			380,909
197,601		Jazz Financing Lux Sarl‡
		8.447%, 05/05/28
		1 mo. SOFR + 3.00%			197,724
20,000		Shearer's Foods, Inc.‡
		1.000%, 01/31/31			19,963
185,000		Star Parent, Inc.‡
		9.348%, 09/27/30
		3 mo. SOFR + 4.00%			180,953

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
96,269		United Natural Foods, Inc.‡!
		8.697%, 10/22/25
		1 mo. SOFR + 3.25%		$	96,204
					875,753
Energy (0.1%)
140,000		Buckeye Partners, LP‡
		7.833%, 11/22/30
		1 mo. SOFR + 2.50%			140,117
100,000		New Fortress Energy, Inc.‡
		10.317%, 10/27/28
		3 mo. SOFR + 5.00%			100,200
238,424		Par Petroleum, LLC‡
		9.738%, 02/28/30
		3 mo. SOFR + 4.25%			238,633
					478,950
Financials (0.4%)
45,000		Advisor Group, Inc.‡
		9.833%, 08/17/28
		1 mo. SOFR + 4.50%			45,014
150,835		Alliant Holdings Intermediate LLC‡
		8.833%, 11/06/30
		1 mo. SOFR + 3.50%			151,321
134,326		Amynta Agency Borrower, Inc.‡
		9.583%, 02/28/28
		1 mo. SOFR + 4.25%			134,541
172,802		AssuredPartners, Inc.‡
		8.833%, 02/12/27
		1 mo. SOFR + 3.50%			172,441
139,650		Avolon TLB Borrower 1, LLC‡
		7.337%, 06/22/28
		1 mo. SOFR + 2.00%			139,778
100,000		Broadstreet Partners, Inc.‡
		9.083%, 01/27/29
		1 mo. SOFR + 3.75%			100,062
180,000		HUB International, Ltd.!
		0.000%, 06/20/30			180,310
140,000		Iron Mountain, Inc.‡
		7.569%, 01/31/31
		3 mo. SOFR + 2.25%			139,432
249,456		VFH Parent, LLC‡
		8.433%, 01/13/29
		1 mo. SOFR + 3.00%			249,331
					1,312,230
Health Care (0.3%)
96,747		Icon Luxembourg Sarl‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			96,959
207,059		Padagis, LLC‡
		10.341%, 07/06/28
		3 mo. SOFR + 4.75%			200,848
24,105		PRA Health Sciences, Inc.‡
		7.860%, 07/03/28
		3 mo. SOFR + 2.25%			24,157
809,005		Team Health Holdings, Inc.‡
		10.563%, 03/02/27
		3 mo. SOFR + 5.25%			676,531
2,313		Team Health Holdings, Inc.‡
		10.583%, 03/02/27
		1 mo. SOFR + 5.25%			1,934
					1,000,429
Industrials (0.3%)
97,500		ACProducts, Inc.‡
		9.860%, 05/17/28
		3 mo. SOFR + 4.25%			84,592
85,300		ACProducts, Inc.!
		0.000%, 05/17/28			74,008
118,200		Air Canada‡
		9.139%, 08/11/28
		3 mo. SOFR + 3.50%			118,468
172,804		ChampionX Corp.‡
		8.187%, 06/07/29
		1 mo. SOFR + 2.75%			173,560
121,560		Emrld Borrower, LP‡
		8.313%, 05/31/30
		1 mo. SOFR + 3.00%			121,735
197,000		Light and Wonder International, Inc.‡
		8.083%, 04/14/29
		1 mo. SOFR + 3.00%			197,000
180,000		TransDigm, Inc.‡
		8.598%, 02/14/31
		3 mo. SOFR + 3.25%			180,433
193,508		United Airlines, Inc.‡
		9.201%, 04/21/28
		1 mo. SOFR + 3.75%			194,128
					1,143,924
Information Technology (0.2%)
241,785		Banff Merger Sub, Inc.‡
		9.583%, 12/29/28
		1 mo. SOFR + 4.25%			242,389
196,369		Camelot Finance SA‡
		8.337%, 10/30/26
		1 mo. SOFR + 3.00%			196,467
169,663		Central Parent, Inc.‡
		9.348%, 07/06/29
		3 mo. SOFR + 4.00%			170,193
171,504		II-VI, Inc.‡
		8.087%, 07/02/29
		1 mo. SOFR + 2.75%			171,033
					780,082
Materials (0.3%)
134,663		Chemours Company‡
		8.833%, 08/18/28
		1 mo. SOFR + 3.50%			134,528
184,075		Ineos US Finance, LLC‡
		8.837%, 02/18/30
		1 mo. SOFR + 3.50%			182,291
138,961		Innophos, Inc.‡
		8.697%, 02/05/27
		1 mo. SOFR + 3.25%			137,369
233,825		LSF11 A5 Holdco, LLC‡
		9.683%, 10/15/28
		1 mo. SOFR + 4.25%			234,118
134,198		Trinseo Materials Operating SCA‡
		8.150%, 05/03/28
		3 mo. SOFR + 2.50%			103,042
188,306		W.R. Grace & Co.-Conn.‡
		9.360%, 09/22/28
		3 mo. SOFR + 3.75%			188,761
					980,109

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

PRINCIPAL
AMOUNT				VALUE
		Special Purpose Acquisition Companies (0.1%)
98,500		Clydesdale Acquisition Holdings, Inc.‡
		9.108%, 04/13/29
		1 mo. SOFR + 3.67%		$	97,992
44,213		Fertitta Entertainment, LLC‡
		9.333%, 01/27/29
		1 mo. SOFR + 4.00%			44,144
177,750		Patagonia Holdco, LLC‡
		11.116%, 08/01/29
		3 mo. SOFR + 5.75%			163,441
					305,577
		Total Bank Loans
		(Cost $9,672,716)			9,449,663
Convertible Preferred Stocks (0.2%)
Energy (0.1%)
14,700		Equitrans Midstream Corp.~‡‡
		9.750%			323,400
Real Estate (0.1%)
8,025		Realty Income Corp.µ‡‡
		6.000%			199,822
		Total Convertible Preferred Stocks
		(Cost $534,117)			523,222
Preferred Stocks (2.6%)
Communication Services (0.6%)
21,155		AT&T, Inc.µ
		4.750%, 02/18/25			445,947
9,450		AT&T, Inc.µ
		5.350%, 11/01/66			226,800
36,510		Qwest Corp.µ
		6.500%, 09/01/56			339,543
22,306		Telephone & Data Systems, Inc.µ
		6.000%, 09/30/26			367,826
26,898		United States Cellular Corp.µ
		5.500%, 03/01/70			497,882
22,660		United States Cellular Corp.µ
		5.500%, 06/01/70			415,811
					2,293,809
Consumer Discretionary (0.3%)
7,685		Ford Motor Company~µ
		6.200%, 06/01/59			194,815
7,236		Ford Motor Companyµ
		6.500%, 08/15/62			179,815
3,615		Guitar Center, Inc.&#
					296,430
3,120		Qurate Retail, Inc.µ
		8.000%, 03/15/31			123,427
9,600		QVC, Inc.µ
		6.250%, 11/26/68			115,488
					909,975
Energy (0.5%)
31,635		Energy Transfer, LP‡
		10.364%, 02/09/24
		3 mo. USD LIBOR + 4.74%			809,540
22,515		NuStar Energy, LP~‡
		11.282%, 03/01/24
		3 mo. SOFR + 5.90%			578,635
17,500		NuStar Logistics, LP~‡
		12.310%, 01/15/43
		3 mo. SOFR + 7.00%			452,550
					1,840,725
Financials (0.7%)
15,560		Annaly Capital Management, Inc.‡
		10.585%, 03/01/24
		3 mo. USD LIBOR + 4.99%			397,091
3,675		Capital One Financial Corp.µ
		4.800%, 06/01/25			71,258
27,375		CNO Financial Group, Inc.µ
		5.125%, 11/25/60			472,219
4,608		Cullen/Frost Bankers, Inc.µ
		4.450%, 12/15/25			85,248
8,134		First Citizens BancShares, Inc.µ
		5.625%, 01/04/27			186,269
3,288		Goldman Sachs Group, Inc.‡µ
		6.375%, 05/10/24
		3 mo. SOFR + 3.81%			84,534
28,900		Reinsurance Group of America, Inc.‡µ
		7.125%, 10/15/52
		5 year CMT + 3.46%			758,914
16,896		Selective Insurance Group, Inc.µ
		4.600%, 12/15/25			305,649
					2,361,182
Industrials (0.1%)
12,312		WESCO International, Inc.‡µ
		10.625%, 06/22/25
		5 year CMT + 10.33%			330,085
Real Estate (0.2%)
23,352		Brookfield Property Partners, LP~
		5.750%, 03/31/25			270,650
12,800		Brookfield Property Partners, LP~
		6.375%, 09/30/24			162,560
6,245		Global Net Lease, Inc.µ
		6.875%, 11/26/24			129,334
5,466		Global Net Lease, Inc.µ‡‡
					118,448
					680,992
Utilities (0.2%)
14,975		Brookfield Renewable Partners, LP~
		5.250%, 03/31/25			262,062
13,450		DTE Energy Company~µ
		5.250%, 12/01/77			318,227
					580,289
		Total Preferred Stocks
		(Cost $10,066,112)			8,997,057

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

Number of
SHARES				VALUE
Common Stocks (83.6%)
		Communication Services (4.5%)
111,000		Alphabet, Inc. - Class Aµ#		$	15,551,100
3,935		Altice USA, Inc. - Class A#			9,602
1,322		Cumulus Media, Inc. - Class Aµ#			6,081
					15,566,783
		Consumer Discretionary (10.5%)
94,500		Amazon.com, Inc.µ#			14,666,400
93,000		Hyatt Hotels Corp. - Class A~µ			11,938,410
40,500		Marriott International, Inc. - Class A~			9,709,065
					36,313,875
		Consumer Staples (2.9%)
1,522		Mallinckrodt, PLC#			58,216
122,500		Sysco Corp.µ			9,913,925
					9,972,141
		Energy (2.8%)
266,000		BP, PLC (ADR)~			9,336,600
260		Chesapeake Energy Corp.µ			20,049
12,950		Energy Transfer, LP~			185,185
3,970		Enterprise Products Partners, LP			106,237
					9,648,071
		Financials (5.4%)
127,000		Morgan Stanley~µ			11,079,480
153,500		Wells Fargo & Companyµ			7,702,630
					18,782,110
		Health Care (14.2%)
48,500		Danaher Corp.µ			11,635,635
132,000		Medtronic, PLCµ			11,555,280
109,000		Merck & Company, Inc.µ			13,165,020
104,500		Zimmer Biomet Holdings, Inc.~µ			13,125,200
					49,481,135
		Industrials (22.1%)
34,000		3M Companyµ			3,207,900
153,000		Air Lease Corp.µ			6,396,930
20,000	EUR	Airbus, SE			3,185,717
559,000		American Airlines Group, Inc.~µ#			7,954,570
375,000		CSX Corp.~µ			13,387,500
50,000		Honeywell International, Inc.µ			10,113,000
62,900		L3Harris Technologies, Inc.µ			13,109,618
3,500		Lockheed Martin Corp.~			1,502,935
30,500		Union Pacific Corp.µ			7,439,865
254,000		United Airlines Holdings, Inc.µ#			10,510,520
					76,808,555
		Information Technology (21.2%)
41,800		Microsoft Corp.µ			16,618,844
42,700		NVIDIA Corp.µ			26,272,029
130,000		Oracle Corp.µ			14,521,000
143,500		Taiwan Semiconductor Manufacturing Company, Ltd. (ADR)~			16,209,760
					73,621,633
		Special Purpose Acquisition Company (0.0%)
1,380		Intelsat Emergence, SA~&#			37,605
		Total Common Stocks
		(Cost $289,021,100)			290,231,908

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
Purchased Options (1.0%) #
Communication Services (0.1%)
		Alphabet, Inc.
1,110
11,235,420		Call, 02/09/24, Strike $143.00		$	147,630
555
5,617,710		Put, 02/02/24, Strike $143.00			188,700
100		Meta Platforms, Inc.
3,901,400		Put, 02/02/24, Strike $370.00			50,750
					387,080
Consumer Discretionary (0.1%)
940		Amazon.com, Inc.
14,588,800		Call, 02/02/24, Strike $160.00			305,500
Consumer Staples (0.0%)
1,225		Sysco Corp.
9,913,925		Put, 02/16/24, Strike $75.00			6,125
Financials (0.1%)
3,070		Wells Fargo & Company
15,405,260		Call, 02/16/24, Strike $51.00			164,245
Industrials (0.0%)
135		Eaton Corp., PLC
3,322,080		Put, 02/16/24, Strike $240.00			56,025
2,550		United Airlines Holdings, Inc.
10,551,900		Call, 02/02/24, Strike $42.00			68,850
					124,875
Information Technology (0.4%)
378		Microsoft Corp.
10,290,294		Call, 02/02/24, Strike $380.00			674,730
785		Taiwan Semiconductor Manufacture
7,068,140		Call, 02/16/24, Strike $105.00			677,062
					1,351,792
Other (0.3%)
		SPDR S&P 500 ETF Trust
1,740
84,021,120		Put, 03/15/24, Strike $465.00			489,810
1,675
80,882,400		Call, 02/02/24, Strike $491.00			46,063
1,350
65,188,800		Put, 02/02/24, Strike $487.00			607,500
					1,143,373
		Total Purchased Options
		(Cost $4,182,196)			3,482,990
		TOTAL INVESTMENTS (123.5%)
		(Cost $436,774,369)			428,883,118
LIABILITIES, LESS OTHER ASSETS (-23.5%)					(81,484,207	)
NET ASSETS (100.0%)				$	347,398,911

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
SHARES				VALUE
Common Stocks Sold Short (-12.9%) #
Consumer Discretionary (-1.3%)
(24,000	)	Tesla, Inc.		$	(4,494,960	)
Financials (-2.3%)
(234,000	)	Bank of America Corp.			(7,958,340	)
Health Care (-0.9%)
(1,300	)	Mettler-Toledo International, Inc.			(1,556,347	)
(9,300	)	ResMed, Inc.			(1,768,860	)
					(3,325,207	)
Industrials (-1.5%)
(80,000	)	Uber Technologies, Inc.			(5,221,600	)
Information Technology (-6.9%)
(2,900	)	KLA Corp.			(1,722,716	)
(12,000	)	Lam Research Corp.			(9,902,040	)
(29,800	)	Microchip Technology, Inc.			(2,538,364	)
(34,500	)	Salesforce, Inc.			(9,697,605	)
					(23,860,725	)
		Total Common Stocks Sold Short
		(Proceeds $38,027,709)			(44,860,832	)
Exchange-Traded Funds Sold Short (-58.0%) #
Other (-58.0%)
(385,900	)	SPDR S&P 500 ETF Trust			(186,343,392	)
(82,000	)	VanEck Semiconductor ETF			(15,241,340	)
		Total Exchange-Traded Funds Sold Short
		(Proceeds $185,028,369)			(201,584,732	)
TOTAL SECURITIES SOLD SHORT
(Proceeds $223,056,078)					(246,445,564	)

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
Written Options (-1.5%) #
Communication Services (0.0%)
(100	)	Meta Platforms, Inc.
(3,901,400	)	Put, 02/02/24, Strike $350.00			(14,150	)
Consumer Discretionary (-0.1%)
(475	)	Amazon.com, Inc.
(7,372,000	)	Call, 03/15/24, Strike $180.00			(52,963	)
(465	)
(7,216,800	)	Call, 02/16/24, Strike $175.00			(39,757	)
(240	)	Tesla, Inc.
(4,494,960	)	Put, 02/09/24, Strike $190.00			(154,200	)
					(246,920	)
Consumer Staples (-0.1%)
(1,225	)	Sysco Corp.
(9,913,925	)	Call, 03/15/24, Strike $80.00			(327,688	)
Energy (0.0%)
(12,700	)GBP	Lloyds Banking Group, PLC
(5,371,973	)	Put, 02/16/24, Strike 0.40			(72,426	)
Financials (-0.1%)
(2,340	)	Bank Of America Corp.
(7,958,340	)	Put, 02/16/24, Strike $32.00			(23,400	)
(1,535	)	Wells Fargo & Company
(7,702,630	)	Call, 02/16/24, Strike $50.00			(144,290	)
					(167,690	)
Health Care (0.0%)
(265	)	Zimmer Biomet Holdings, Inc.
(3,328,400	)	Call, 02/16/24, Strike $130.00			(64,925	)
Industrials (-0.1%)
(700	)	3M Company
(6,604,500	)	Put, 02/16/24, Strike $92.00			(76,300	)
		Airbus, SE
(205	)
(3,021,522	)EUR	Put, 02/16/24, Strike 145.00			(51,841	)
(205	)
(3,021,522	)EUR	Put, 02/16/24, Strike 142.00			(31,016	)
		Eaton Corp., PLC
(135	)
(3,322,080	)	Put, 02/16/24, Strike $230.00			(21,600	)
(135	)
(3,322,080	)	Call, 03/15/24, Strike $270.00			(24,975	)
(3,400	)	United Airlines Holdings, Inc.
(14,069,200	)	Call, 03/15/24, Strike $49.00			(81,600	)
					(287,332	)
Information Technology (-0.9%)
(497	)	Apple, Inc.
(7,822,780	)	Call, 02/16/24, Strike $200.00			(24,104	)
(716	)	Microsoft Corp.
(19,491,668	)	Call, 03/15/24, Strike $415.00			(386,640	)
(427	)	Nvidia Corp.
(11,059,300	)	Call, 03/15/24, Strike $620.00			(1,568,158	)
(54	)	NVIDIA Corp.
(1,398,600	)	Call, 04/19/24, Strike $700.00			(110,160	)
(785	)	Taiwan Semiconductor Manufacturing Company, Ltd.
(7,068,140	)	Call, 02/16/24, Strike $100.00			(1,047,975	)
					(3,137,037	)
Other (-0.2%)
		SPDR S&P 500 ETF Trust
(2,610	)
(126,031,680	)	Put, 04/19/24, Strike $420.00			(358,875	)
(1,350	)
(65,188,800	)	Put, 02/16/24, Strike $475.00			(265,950	)
					(624,825	)

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Long/Short Equity & Dynamic Income Trust

SCHEDULE OF INVESTMENTS JANUARY 31, 2024 (UNAUDITED)

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT				VALUE
		Real Estate (0.0%)
(130	)	Digital Realty Trust, Inc.
(1,825,980	)	Call, 02/16/24, Strike $135.00		$	(104,000	)
		Total Written Options
		(Premium $2,950,647)			(5,046,993	)

 

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 Funds. 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.
~	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 $125,181,604.
@	In default status and considered non-income producing.
‡	Variable rate security. The rate shown is the rate in effect at January 31, 2024.
^	Security, or portion of security, is on loan.
µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $214,034,455.
¡	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.
&	Illiquid security.
‡‡	Perpetual maturity.
#	Non-income producing security.

 

ABBREVIATION

ADR	American Depositary Receipt.

 

FOREIGN CURRENCY ABBREVIATIONS

EUR	European Monetary Unit
GBP	British Pound Sterling

 

Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. The principal amount for such securities is shown in the respective foreign currency.  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.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of January 31, 2024 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Security		$	—			$	133,424			$	—			$	133,424
Corporate Bonds			—				115,483,658				—				115,483,658
Convertible Bonds			—				581,196				—				581,196
Bank Loans			—				9,449,663				—				9,449,663
Convertible Preferred Stocks			199,822				323,400				—				523,222
Preferred Stocks			8,700,627				296,430				—				8,997,057
Common Stocks			286,950,370				3,281,538				—				290,231,908
Purchased Options			3,482,990				—				—				3,482,990
Total		$	299,333,809			$	129,549,309			$	—			$	428,883,118
Liabilities:
Common Stocks Sold Short		$	44,860,832			$	—			$	—			$	44,860,832
Exchange-traded Funds Sold Short			201,584,732				—				—				201,584,732
Written Options			5,046,993				—				—				5,046,993
Total		$	251,535,161			$	—			$	—			$	251,535,161

 

See accompanying Notes to Schedule of Investments

 

 

Notes to Schedule of Investments (Unaudited)

 

Note 1 – Organization and Significant Accounting Policies

 

Organization. Calamos Convertible Opportunities and Income Fund (“CHI”), Calamos Convertible and High Income Fund (“CHY”), Calamos Strategic Total Return Fund (“CSQ”), Calamos Dynamic Convertible and Income Fund (“CCD”), Calamos Global Dynamic Income Fund (“CHW”), Calamos Global Total Return Fund (“CGO”), and Calamos Long/Short Equity & Dynamic Income Trust (“CPZ”) (each a “Fund”, and collectively, the “Funds”) were each organized as Delaware statutory trusts and are each registered under the Investment Company Act of 1940, as amended (the “1940 Act”) as a diversified, closed-end management investment company.

 

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 Funds 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 Funds:

 

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

 

Funds' 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 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. 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 or based on a quotation provided by the counterparty to such option under the ultimate supervision of the Board.

 

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 each 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 each Fund's NAV is not calculated.

 

If the Advisor's 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 Funds also may use fair value pricing, pursuant to policies and procedures 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 a 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 each Fund to calculate its NAV may differ from market quotations or official closing prices. There can be no assurance that each Fund could purchase or sell a portfolio security at the price used to calculate each Fund’s 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, each Fund may purchase or write (sell) put and call options. One of the risks associated with purchasing an option is that each Fund pays a premium whether or not the option is exercised. Additionally, each 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 – Fair Value Measurements

 

Various inputs are used to determine the value of each Fund's investments. These inputs are categorized into three broad levels as follows:

 

·

Level 1 – Prices are determined using inputs from unadjusted quoted prices from active markets (including securities actively traded on a securities exchange) for identical assets.

 

 

·

Level 2 – Prices are determined using significant observable market inputs other than unadjusted quoted prices, including quoted prices of similar securities, fair value adjustments to quoted foreign securities, interest rates, credit risk, prepayment speeds, and other relevant data.

 

·

Level 3 – Prices reflect unobservable market inputs (including each Fund's own judgments about assumptions market participants would use in determining fair value) when observable inputs are unavailable.

 

Debt securities are valued based upon evaluated prices received from an independent pricing service or from a dealer or broker who makes markets in such securities. Pricing services utilize various observable market data and as such, debt securities are generally categorized as Level 2. The levels are not necessarily an indication of the risk or liquidity of each Fund's investments. The summary of the inputs used in valuing each Fund's holdings are available after each Fund's Portfolio.