Company: CHY
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124662
Chunk: 40

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-12-29
Form: N-CSR
Chunk 40
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 23.52 | % |     |             | 9.66 | % |

*Total return measures net investment income and net realized gain or loss from Fund investments, and change in net unrealized appreciation and depreciation, assuming reinvestment of income and net realized gains distributions. **Annualized since inception. SECTOR WEIGHTINGS

| Information Technology      |     | 31.1 | % |
| Consumer Discretionary      |     | 11.3 |   |
| Communication Services      |     | 11.0 |   |
| Financials                  |     | 10.3 |   |
| Industrials                 |     |  8.7 |   |
| Health Care                 |     |  5.7 |   |
| Utilities                   |     |  5.7 |   |
| Energy                      |     |  3.9 |   |
| Materials                   |     |  3.8 |   |
| Consumer Staples            |     |  3.4 |   |
| Real Estate                 |     |  0.8 |   |
| Airlines                    |     |  0.3 |   |
| Special Purpose Acquisition 
 Companies                   |     |  0.1 |   |

Sector weightings are based on managed assets and may vary over time. Sector Weightings exclude any government/sovereign bonds or options on broad market indexes the Fund may hold.

CALAMOS CONVERTIBLE OPPORTUNITIES AND INCOME FUND INVESTMENT TEAM DISCUSSION Please discuss the Fund's strategy and role within an asset allocation. Calamos Convertible Opportunities and Income Fund (CHI) is an enhanced fixed-income offering that seeks total return through capital appreciation and current income. It provides an alternative to funds that invest exclusively in investment-grade fixed-income instruments and seeks to be less sensitive to interest rate moves. The Fund invests in a diversified portfolio of convertible securities and high-yield bonds. The allocation to each asset class is dynamic and reflects our view of the economic landscape and the potential of individual securities. By utilizing these asset classes in combination, we believe the Fund is well positioned to generate capital gains and income. The broader range of security types also provides increased opportunities to manage the portfolio's risk/reward characteristics. We seek companies with sound balance sheets, reliable debt servicing, and good prospects for sustainable growth. Although we invest primarily in the securities of US issuers, we favor companies that actively participate in markets with geographically diversified revenue streams