# EDGAR Filing Document

**Accession Number:** 0000826732
**File Stem:** 0001145549-23-021655
**Filing Date:** 2023-3
**Character Count:** 572995
**Document Hash:** 524bd833b0fe9edb03197bf8862b76ba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-021655.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001145549-23-021655

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CALAMOS INVESTMENT TRUST/IL
- **CENTRAL INDEX KEY:** 0000826732
- **IRS NUMBER:** 363316238
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05443
- **FILM NUMBER:** 23786944

**BUSINESS ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **STREET 2:** C/O CALAMOS ADVISORS LLC
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563
- **BUSINESS PHONE:** 6302451046

**MAIL ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **STREET 2:** C/O CALAMOS ADVISORS LLC
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563

## Series and Classes Contracts Data

### Calamos Evolving World Growth Fund (Series ID: S000022429)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000064541 | Class A      | CNWGX           |
| C000064543 | Class C      | CNWDX           |
| C000064544 | Class I      | CNWIX           |

## Nport-Ex

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | | **VALUE** | |
| **CONVERTIBLE BONDS (36.6%)** | **CONVERTIBLE BONDS (36.6%)** | **CONVERTIBLE BONDS (36.6%)** | **CONVERTIBLE BONDS (36.6%)** |  |
|  |  | ***Communication Services (4.0%)*** | ***Communication Services (4.0%)*** | **** |
| 50000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; America Movil, BV<br> 0.000%, 03/02/24 | $56791645 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Bandwidth, Inc. |  |  |
| 7500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 04/01/28~ | 4891500 |  |
| 3000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 03/01/26 | 2339820 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Bilibili, Inc.~ |  |  |
| 12000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 04/01/26 | 15196080 |  |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 06/15/27 | 5281200 |  |
| 10000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Cellnex Telecom, SA<br> 1.500%, 01/16/26 | 14291569 |  |
| 1000000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; CyberAgent, Inc.<br> 0.000%, 02/19/25 | 8111167 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Eventbrite, Inc. |  |  |
| 2500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 12/01/25~ | 2597400 |  |
| 1953000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 09/15/26 | 1518184 |  |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Fubotv, Inc.~<br> 3.250%, 02/15/26 | 2358850 |  |
| 19667000 |  | &nbsp;&nbsp;&nbsp;&nbsp; iQIYI, Inc.~<br> 4.000%, 12/15/26 | 17208625 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; JOYY, Inc.~ |  |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 06/15/26 | 9076800 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 06/15/25 | 9702700 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.\*<br> 3.125%, 01/15/29 | 16087050 |  |
| 27500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lyft, Inc.~<br> 1.500%, 05/15/25 | 25226575 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Finance Co. 3, Inc.~\*<br> 2.000%, 01/15/30 | 14748750 |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Financeco 2, Inc.\*<br> 0.875%, 06/15/26 | 19249000 |  |
| 7707000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Perficient, Inc.<br> 0.125%, 11/15/26 | 6218778 |  |
| 2500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Radius Global Infrastructure, Inc.~\*<br> 2.500%, 09/15/26 | 2315325 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Sea, Ltd.~ |  |  |
| 80040000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 09/15/26^ | 62290330 |  |
| 9614000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 12/01/24 | 13255495 |  |
| 7500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 12/01/25 | 7982700 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Snap, Inc.~ |  |  |
| 77897000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/01/27 | 57537840 |  |
| 40000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 03/01/28\* | 28745600 |  |
| 14970000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 08/01/26 | 13916711 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 05/01/25 | 9610100 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; TechTarget, Inc. |  |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/15/26 | 16012600 |  |
| 7500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 12/15/25~ | 7105650 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc.~<br> 0.250%, 04/01/26 | 12766950 |  |
| 28201000 |  | &nbsp;&nbsp;&nbsp;&nbsp; World Wrestling Entertainment, Inc.~<br> 3.375%, 12/15/23 | 95913857 |  |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ziff Davis, Inc.~\*^<br> 1.750%, 11/01/26 | 13267500 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Zillow Group, Inc.~ |  |  |
| 18000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 09/01/24 | 21186540 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 09/01/26 | 17869050 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;610671941 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | | **VALUE** | |
|  |  | ***Consumer Discretionary (6.8%)*** | ***Consumer Discretionary (6.8%)*** | **** |
| 7000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2U, Inc.~<br> 2.250%, 05/01/25 | $5270860 |  |
| 91893000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc.~ 03/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;79059224 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp. |  |  |
| 21500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 10/01/24 | 28348180 |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 12/01/27\* | 22295600 |  |
| 3009000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc.~<br> 0.375%, 06/15/26 | 2623427 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Chegg, Inc.~ |  |  |
| 13457000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 03/15/25 | 11985746 |  |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 09/01/26 | 9920625 |  |
| 7500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc.~<br> 0.625%, 06/15/26 | 6768225 |  |
| 35000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Delivery Hero, SE<br> 1.500%, 01/15/28 | 28255363 |  |
| 22900000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc.<br> 3.250%, 04/15/25 | 93243762 |  |
| 75956000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DraftKings Holdings, Inc.~<br> 0.000%, 03/15/28 | 52093663 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.~ |  |  |
| 60000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 06/15/28 | 54147000 |  |
| 30000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 10/01/26 | 51637500 |  |
| 18500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Farfetch, Ltd.~<br> 3.750%, 05/01/27 | 16306085 |  |
| 30000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Fiverr International, Ltd.~<br> 0.000%, 11/01/25 | 25358700 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company~^<br> 0.000%, 03/15/26 | 10181200 |  |
| 6500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Groupon, Inc.~<br> 1.125%, 03/15/26 | 3754530 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Guess?, Inc.~<br> 2.000%, 04/15/24 | 16747800 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Li Auto, Inc.~<br> 0.250%, 05/01/28 | 11383900 |  |
| 62500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lucid Group, Inc.~\*<br> 1.250%, 12/15/26 | 40337500 |  |
| 13000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Luminar Technologies, Inc.~\*<br> 1.250%, 12/15/26 | 8000460 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. |  |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 12/15/27\* | 10814900 |  |
| 7000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 01/15/26~ | 7564620 |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Meituan<br> 0.000%, 04/27/27 | 17745400 |  |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.~^<br> 2.000%, 08/15/28 | 34042750 |  |
| 7500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; National Vision Holdings, Inc.~<br> 2.500%, 05/15/25 | 10692900 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; NIO, Inc.~ |  |  |
| 10199000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 02/01/27 | 8480367 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/01/26 | 9233700 |  |
| 20000000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ocado Group, PLC<br> 0.750%, 01/18/27 | 16629414 |  |
| 47500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Peloton Interactive, Inc.~<br> 0.000%, 02/15/26 | 36901800 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Pinduoduo, Inc.~ |  |  |
| 17000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/01/25 | 16449030 |  |
| 6750000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/01/24 | 15563543 |  |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Porch Group, Inc.~\*<br> 0.750%, 09/15/26 | 3022950 |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd.~\*<br> 6.000%, 08/15/25 | 30632800 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** |
| 10245000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Shake Shack, Inc.~<br> 0.000%, 03/01/28 | $7681496 |
| 10833000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Stride, Inc.~<br> 1.125%, 09/01/27 | 11282136 |
| 16822000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.~<br> 2.000%, 05/15/24 | 140720740 |
| 11632000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Vroom, Inc.~<br> 0.750%, 07/01/26 | 4091207 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Wayfair, Inc. |  |
| 27590000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 10/01/25~ | 21218641 |
| 25000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 08/15/26 | 19142250 |
| 23055000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 09/15/27\* | 27688824 |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Winnebago Industries, Inc.~<br> 1.500%, 04/01/25 | 14695375 |
|  |  |  | 1042014193 |
|  |  | ***Consumer Staples (0.4%)*** |  |
| 11500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Beauty Health Company~\*<br> 1.250%, 10/01/26 | 9450470 |
| 36755000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Beyond Meat, Inc.~ 03/15/27 | 9293134 |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Herbalife Nutrition, Ltd.~<br> 2.625%, 03/15/24 | 14098350 |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.~\*^<br> 2.500%, 08/15/27 | 16368150 |
| 610000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Yaoko Company, Ltd.<br> 0.000%, 06/20/24 | 5344887 |
|  |  |  | 54554991 |
|  |  | ***Energy (1.1%)***  |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.<br> 5.500%, 09/15/26 | 337500 |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\*<br> 3.625%, 04/15/29 | 5713850 |
| 71500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company~<br> 0.250%, 05/15/25 | 168566255 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;174617605 |
|  |  | ***Financials (0.8%)*** |  |
| 80800000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc.~<br> 0.500%, 06/01/26 | 55121760 |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Hope Bancorp, Inc.~<br> 2.000%, 05/15/38 | 4939800 |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company<br> 0.000%, 12/28/23 | 19301000 |
| 10467000 |  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Financial Company, LLC (Voya Financial, Inc.)~§<br> 0.250%, 05/01/23 | 11459062 |
| 75000000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Link CB Ltd.<br> 4.500%, 12/12/27 | 10908126 |
| 13000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; PRA Group, Inc.~<br> 3.500%, 06/01/23 | 13110500 |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Technologies, Inc.~\*<br> 0.000%, 10/15/26 | 7565500 |
|  |  |  | 122405748 |
|  |  | ***Health Care (4.1%)*** |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Accolade, Inc.~<br> 0.500%, 04/01/26 | 11671050 |
| 22500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\*^<br> 1.000%, 09/15/27 | 24070500 |
| 4000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.~<br> 0.750%, 08/01/26 | 3879280 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; Ascendis Pharma, A/S~\*<br> 2.250%, 04/01/28 | $8873320 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc.~ |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 03/15/27 | 4854600 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 02/01/29 | 3455700 |
| 3759000 | &nbsp;&nbsp;&nbsp;&nbsp; Coherus Biosciences, Inc.<br> 1.500%, 04/15/26 | 2674529 |
| 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.~<br> 2.625%, 02/15/26 | 4032385 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp.~\*<br> 2.250%, 06/15/27 | 19019200 |
| 3188000 | &nbsp;&nbsp;&nbsp;&nbsp; CryoPort, Inc.~\*<br> 0.750%, 12/01/26 | 2527064 |
| 16000000 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.~<br> 0.750%, 12/01/23 | 41728480 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp.~<br> 2.375%, 06/01/25 | 19116700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Evolent Health, Inc.~<br> 1.500%, 10/15/25 | 5809350 |
| 37000000 | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.~\*<br> 1.000%, 08/15/28 | 41331220 |
| 54885000 | &nbsp;&nbsp;&nbsp;&nbsp; Illumina, Inc.~<br> 0.000%, 08/15/23 | 53382798 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Innoviva, Inc.~ |  |
| 17000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 08/15/25 | 17005100 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 03/15/28\* | 8153200 |
| 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc.~<br> 0.750%, 06/01/28 | 8009640 |
| 27500000 | &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp.~<br> 0.375%, 09/01/26 | 38043225 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Intercept Pharmaceuticals, Inc.<br> 2.000%, 05/15/26 | 3840950 |
| 11243000 | &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.~<br> 0.125%, 12/15/24 | 10418776 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc.~ |  |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 06/15/24 | 13132125 |
| 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 06/15/26 | 10057650 |
| 24500000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd.~^<br> 2.000%, 06/15/26 | 28896525 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\*<br> 2.625%, 12/15/27 | 5366100 |
| 7250000 | &nbsp;&nbsp;&nbsp;&nbsp; Livongo Health, Inc.<br> 0.875%, 06/01/25 | 6494477 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Mesa Laboratories, Inc.~<br> 1.375%, 08/15/25 | 4844700 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Natera, Inc.~<br> 2.250%, 05/01/27 | 13627400 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc.<br> 0.250%, 01/15/28 | 6688700 |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.~<br> 2.250%, 05/15/24 | 11017800 |
| 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; NextGen Healthcare, Inc.\*<br> 3.750%, 11/15/27 | 4725180 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Novocure, Ltd.~ 11/01/25 | 14569800 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Oak Street Health, Inc.~^ |  |
| 40000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/15/26 | &nbsp;&nbsp;&nbsp;&nbsp;34438800 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 03/15/26 | 5165820 |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.~<br> 0.250%, 09/15/25 | 11425625 |
| 11233000 | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.~<br> 0.750%, 08/01/25 | 10328743 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; Revance Therapeutics, Inc.<br> 1.750%, 02/15/27 | 5163160 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc. |  |
| 45000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 09/15/27\* | 51325200 |
| 10115000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 11/15/24~^ | 18288021 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | | **VALUE** |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; SmileDirectClub, Inc.\*<br> 0.000%, 02/01/26 | $2183375 |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Supernus Pharmaceuticals, Inc.~<br> 0.625%, 04/01/23 | 9923900 |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tabula Rasa HealthCare, Inc.~<br> 1.750%, 02/15/26 | 4028600 |
| 16250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Teladoc Health, Inc.~^<br> 1.250%, 06/01/27 | 13053300 |
| 10500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Veradigm, Inc.~<br> 0.875%, 01/01/27 | 15221220 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;631863288 |
|  |  | ***Industrials (1.4%)*** |  |
| 17500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc.~<br> 6.500%, 07/01/25 | 21511000 |
| 14000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Atlas Air Worldwide Holdings, Inc.<br> 1.875%, 06/01/24 | 23651040 |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\*^<br> 0.500%, 12/15/27 | 10795300 |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 1.000%, 11/15/24 | 34186650 |
| 11250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; FTI Consulting, Inc.~<br> 2.000%, 08/15/23 | 17847225 |
| 6600000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Greenbrier Companies, Inc.~<br> 2.875%, 04/15/28 | 5683854 |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp.<br> 0.250%, 05/15/26 | 18529800 |
| 16467000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.~<br> 1.000%, 09/01/25 | 21525333 |
| 10000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Safran, SA<br> 0.875%, 05/15/27 | 15416987 |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Seaspan Corp.\*<br> 3.750%, 12/15/25 | 14895750 |
| 4000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Stem, Inc.~\*^<br> 0.500%, 12/01/28 | 2694000 |
| 35000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Upwork, Inc.~<br> 0.250%, 08/15/26 | 27611150 |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Virgin Galactic Holdings, Inc.~\*<br> 2.500%, 02/01/27 | 8744100 |
|  |  |  | 223092189 |
|  |  | ***Information Technology (16.3%)*** |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3D Systems Corp.<br> 0.000%, 11/15/26 | 14827800 |
| 30056000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Affirm Holdings, Inc.<br> 0.000%, 11/15/26 | 19067226 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.~ |  |
| 73500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 09/01/27 | 73155285 |
| 55000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 05/01/25 | 59156350 |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Altair Engineering, Inc.~\*<br> 1.750%, 06/15/27 | 9842300 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Alteryx, Inc.~ |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 08/01/26 | 8435000 |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 08/01/24 | 9317600 |
| 16398000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bentley Systems, Inc.~<br> 0.125%, 01/15/26 | 15233742 |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; BigCommerce Holdings, Inc.<br> 0.250%, 10/01/26 | 11401950 |
| 50000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc.~<br> 0.000%, 12/01/25 | 52516000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Blackline, Inc.~ |  |
| 50000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/15/26 | 43413000 |
| 24000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 08/01/24 | 27527520 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc. |  |
| 35000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 05/15/23~ | 40033350 |
| 25000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 03/01/25~ | 25550750 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 17000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/01/26~ | $14516300 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 11/01/27^ | 8087800 |
| 25000000 | &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc.~<br> 0.000%, 01/15/26 | 33551250 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ceridian HCM Holding, Inc.~<br> 0.250%, 03/15/26 | 18148400 |
| 59700000 | &nbsp;&nbsp;&nbsp;&nbsp; Confluent, Inc.<br> 0.000%, 01/15/27 | 46643013 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Coupa Software, Inc. |  |
| 63000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 06/15/26~ | 61390350 |
| 22876000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 06/15/25 | 22351911 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.~<br> 0.000%, 11/15/24 | 16531800 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.~<br> 0.125%, 06/15/25 | 21942800 |
| 62500000 | &nbsp;&nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc.^<br> 12/01/26 | 48367500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Dropbox, Inc.~ |  |
| 27750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/28 | 25205048 |
| 23000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/26 | 21148270 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.~ |  |
| 16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/28 | 17258560 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/26 | 10551300 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Envestnet, Inc. |  |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 12/01/27\* | 11216900 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 08/15/25 | 5585940 |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; Everbridge, Inc.~ 03/15/26 | 6828800 |
| 50000000 | &nbsp;&nbsp;&nbsp;&nbsp; Fastly, Inc.~ 03/15/26 | 38973500 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Five9, Inc.~<br> 0.500%, 06/01/25 | 14208750 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; Guidewire Software, Inc.~<br> 1.250%, 03/15/25 | 19285000 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc.<br> 1.125%, 05/15/27 | 6858200 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Infinera Corp.~ |  |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.125%, 09/01/24 | &nbsp;&nbsp;&nbsp;&nbsp;15209400 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 08/01/28\* | 7957200 |
| 13000000 | &nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises, Inc.~<br> 0.750%, 02/15/25 | 21683870 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; InterDigital, Inc.~\*<br> 3.500%, 06/01/27 | 11004700 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Itron, Inc.~^ 03/15/26 | 12713250 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Jamf Holding Corp.<br> 0.125%, 09/01/26 | 12596400 |
| 16000000 | &nbsp;&nbsp;&nbsp;&nbsp; Lenovo Group, Ltd.<br> 3.375%, 01/24/24 | 17593440 |
| 17500000 | &nbsp;&nbsp;&nbsp;&nbsp; LivePerson, Inc.~ 12/15/26 | 13051500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.~ |  |
| 50500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/15/26 | 46144880 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 03/15/24 | 22446000 |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 06/15/28\* | 10058250 |
| 18000000 | &nbsp;&nbsp;&nbsp;&nbsp; Magnite, Inc.~<br> 0.250%, 03/15/26 | 14575500 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Digital Holdings, Inc.<br> 1.000%, 12/01/26 | 3165700 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MicroStrategy, Inc. |  |
| 29523000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/15/27~ | 13256713 |
| 9601000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 12/15/25 | 7127014 |
| 75500000 | &nbsp;&nbsp;&nbsp;&nbsp; MongoDB, Inc.~<br> 0.250%, 01/15/26 | 92668700 |
| 40000000 | &nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd.<br> 1.125%, 02/15/27 | 30630400 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; New Relic, Inc.~<br> 0.500%, 05/01/23 | 9871900 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; Nice Systems, Inc.~<br> 1.250%, 01/15/24 | 49663400 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Nice, Ltd. 09/15/25 | 4789000 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Nova, Ltd.~ 10/15/25 | $13179300 |
| 14960000 | &nbsp;&nbsp;&nbsp;&nbsp; Nutanix, Inc.<br> 0.250%, 10/01/27 | 12992760 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc.~ |  |
| 57500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 09/01/25 | 50865650 |
| 43500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 06/15/26 | 37166400 |
| 60000000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.~<br> 05/01/27 | 90000000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.~ |  |
| 109925000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 07/01/23 | 196957019 |
| 78000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 06/01/25 | 128100960 |
| 32500000 | &nbsp;&nbsp;&nbsp;&nbsp; Pegasystems, Inc.~<br> 0.750%, 03/01/25 | 28429375 |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; Progress Software Corp.~<br> 1.000%, 04/15/26 | 13164125 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; PROS Holdings, Inc.<br> 2.250%, 09/15/27 | 1804640 |
| 30625000 | &nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc.~<br> 0.125%, 11/15/25 | 26287581 |
| 19500000 | &nbsp;&nbsp;&nbsp;&nbsp; Rapid7, Inc.~<br> 0.250%, 03/15/27 | 16101345 |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; Repay Holdings Corp.~\*<br> 0.000%, 02/01/26 | 6040500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; RingCentral, Inc.~ |  |
| 41100000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/15/26 | 33131943 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.010%, 03/01/25 | 17559600 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc.~ |  |
| 17500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 08/01/27 | 15657075 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/15/25 | 16061550 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc.~^<br> 0.125%, 11/01/25 | 13182600 |
| 30000000 | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.~<br> 0.625%, 06/15/25 | &nbsp;&nbsp;&nbsp;&nbsp;41285400 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; SMART Global Holdings, Inc.<br> 2.250%, 02/15/26 | 5439300 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Splunk, Inc.~ |  |
| 40000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 09/15/23 | 38983600 |
| 32500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 09/15/25 | 32083025 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 06/15/27 | 17298000 |
| 75000000 | &nbsp;&nbsp;&nbsp;&nbsp; Spotify USA, Inc.~<br> 0.000%, 03/15/26 | 62721750 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc.~<br> 1.250%, 12/15/23 | 48360150 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.~<br> 0.250%, 03/15/26 | 4753100 |
| 95074000 | &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc.<br> 0.000%, 11/15/26 | 73503611 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc.<br> 1.250%, 08/15/25 | 10931700 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verint Systems, Inc.~<br> 0.250%, 04/15/26 | 8951800 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Veritone, Inc.<br> 1.750%, 11/15/26 | 3549950 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc.~<br> 2.250%, 06/15/25 | 9977600 |
| 26500000 | &nbsp;&nbsp;&nbsp;&nbsp; Western Digital Corp.~<br> 1.500%, 02/01/24 | 25493000 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; Wix.com, Ltd.~<br> 0.000%, 07/01/23 | 9819400 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc. |  |
| 17500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 05/01/26~ | 30123625 |
| 15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/28~\* | 13758750 |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 12/01/29\* | 12141125 |
| 17500000 | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.~<br> 1.125%, 08/15/26 | 22098825 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** | **VALUE** | |
| 25000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc.~<br> 0.125%, 07/01/25 | $| 27356250 |  |
|  |  |  |  | 2509648866 |  |
|  |  | ***Materials (0.4%)*** |  |  |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Amyris, Inc.<br> 1.500%, 11/15/26 |  | 3160000 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.~<br> 3.500%, 06/15/25 |  | 24205900 |  |
| 3124000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lithium Americas Corp.<br> 1.750%, 01/15/27 |  | 2727783 |  |
| 20000000 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Sika, AG<br> 0.150%, 06/05/25 |  | 30402185 |  |
|  |  |  |  | 60495868 |  |
|  |  | ***Other (0.4%)*** |  |  |  |
| 60000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cloudflare, Inc.<br> 0.000%, 08/15/26 |  | 50043000 |  |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; QIAGEN, NV<br> 0.000%, 12/17/27 |  | 4616550 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Upstart Holdings, Inc.<br> 0.250%, 08/15/26 |  | 6060300 |  |
|  |  |  |  | 60719850 |  |
|  |  | ***Real Estate (0.4%)*** |  |  |  |
| 20000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd.<br> 0.010%, 02/05/25 |  | 27602094 |  |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Opendoor Technologies, Inc.~\*<br> 0.250%, 08/15/26 |  | 6345250 |  |
| 5000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Realogy Group, LLC / Realogy Co-Issuer Corp.~<br> 0.250%, 06/15/26 |  | 3808200 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Redfin Corp.~ |  |  |  |
| 20000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 04/01/27 |  | 10116200 |  |
| 15000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 10/15/25 |  | 9872100 |  |
|  |  |  |  | 57743844 |  |
|  |  | ***Special Purpose Acquisition Company (0.3%)*** | ***Special Purpose Acquisition Company (0.3%)*** | ***Special Purpose Acquisition Company (0.3%)*** | **** |
| 45000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1Life Healthcare, Inc.<br> 3.000%, 06/15/25 |  | 43250400 |  |
|  |  | ***Utilities (0.2%)*** |  |  |  |
| 12500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Partners, LP~\*<br> 0.000%, 06/15/24 |  | 11945125 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Sunnova Energy International, Inc.~ |  |  |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 02/15/28\* |  | 8432200 |  |
| 10000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 12/01/26 |  | 8108600 |  |
|  |  |  |  | 28485925 |  |
|  |  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $5,647,784,386) |  | &nbsp;&nbsp;&nbsp;&nbsp;5619564708 |  |
| **CORPORATE BOND (1.4%)** | **CORPORATE BOND (1.4%)** | **CORPORATE BOND (1.4%)** |  |  |  |
|  |  | ***Airlines (0.0%)*** |  |  |  |
| 2700000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings, LLC / Mileage Plus Intellectual Property Assets, Ltd.\*<br> 6.500%, 06/20/27 |  | 2731401 |  |
|  |  | ***Communication Services (0.1%)*** |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. |  |  |  |
| 3257000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 08/15/25 |  | 3169843 |  |
| 3000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 11/07/25 |  | 3065880 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; Maxar Technologies, Inc.\*<br> 7.750%, 06/15/27 | $4706145 |
| 3214000 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\*<br> 3.625%, 06/15/25 | 3118126 |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. 1.450%, 03/20/26 | 2278225 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;16338219 |
|  | ***Consumer Discretionary (0.2%)*** |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; American Honda Finance Corp.<br> 4.750%, 01/12/26 | 5042900 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; BorgWarner, Inc. |  |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/25\* | 3977440 |
| 3120000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/15/25^ | 3020160 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Cargill, Inc.\*<br> 4.875%, 10/10/25 | 5039700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp.<br> 4.150%, 11/01/25 | 4927000 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Company, Inc.<br> 1.250%, 01/08/26 | 4482600 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc.<br> 4.400%, 09/08/25 | 4980500 |
| 1859000 | &nbsp;&nbsp;&nbsp;&nbsp; VF Corp.<br> 2.400%, 04/23/25 | 1763912 |
|  |  | 33234212 |
|  | ***Consumer Staples (0.0%)*** |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc.<br> 5.241%, 11/18/25 | 5025850 |
|  | ***Energy (0.1%)*** |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC^<br> 5.050%, 01/10/26 | 5074700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; MPLX, LP<br> 4.875%, 06/01/25 | 4993200 |
|  |  | 10067900 |
|  | ***Financials (0.4%)*** |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.~‡<br> 1.530%, 12/06/25<br> SOFR + 0.65% | 4674900 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/14/24 | 4951050 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.200%, 12/12/24 | 1007570 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of NY Mellon Corp.‡<br> 4.414%, 07/24/26<br> SOFR + 1.35% | 4967750 |
| 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; Citizens Bank NA^‡<br> 6.064%, 10/24/25<br> SOFR + 1.50% | 3561075 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington National Bank‡<br> 5.699%, 11/18/25<br> SOFR + 1.22% | 5053150 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc.<br> 3.650%, 05/23/25 | 1973160 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company‡<br> 2.595%, 02/24/26<br> SOFR + 0.92% | 4766700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International Holdings Netherlands, BV\*<br> 4.250%, 09/15/25 | 4947950 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.‡<br> 5.671%, 10/28/25<br> SOFR + 1.10% | $5063700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp.‡<br> 5.751%, 11/04/26<br> SOFR + 1.35% | 5139300 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank<br> 3.766%, 06/06/25 | 4897200 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp.<br> 3.950%, 06/30/25 | 4936950 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp.‡<br> 5.900%, 10/28/26<br> SOFR + 1.63% | 5173000 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp.‡<br> 5.727%, 10/21/26<br> SOFR + 1.43% | 5137550 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;66251005 |
|  | ***Health Care (0.2%)*** |  |
| 4860000 | &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc.<br> 1.322%, 11/29/24 | 4568254 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc.<br> 5.350%, 10/15/25 | 5083350 |
| 4283000 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.<br> 3.500%, 02/01/25 | 4192415 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Horizon Pharma USA, Inc.\*<br> 5.500%, 08/01/27 | 2043720 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.<br> 5.150%, 10/15/25 | 5101100 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc.<br> 5.400%, 11/14/25 | 5118300 |
|  |  | 26107139 |
|  | ***Industrials (0.1%)*** |  |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp.<br> 4.950%, 10/15/25 | 2540525 |
| 3830000 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp.<br> 3.950%, 08/16/25 | 3784423 |
| 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc.<br> 2.350%, 09/15/24 | 1680630 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Siemens<br> Financieringsmaatschappij, NV\*^<br> 3.250%, 05/27/25 | 4862650 |
|  |  | 12868228 |
|  | ***Information Technology (0.1%)*** |  |
| 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc.<br> 3.400%, 06/27/26 | 3348065 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercedes-Benz Finance North America, LLC\*<br> 5.375%, 11/26/25 | 3051390 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.<br> 2.650%, 10/01/26 | 4720850 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc.<br> 3.300%, 03/28/24 | 4901500 |
|  |  | 16021805 |
|  | ***Materials (0.0%)*** |  |
| 3417000 | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin Williams Company~<br> 4.050%, 08/08/24 | 3380199 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
|  | ***Other (0.1%)*** |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Diageo Capital, PLC<br> 5.200%, 10/24/25 | $| 5111050 |  |
| 1457000 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger Holdings Corp.\*<br> 3.750%, 05/01/24 |  | 1439137 |  |
|  |  |  | 6550187 |  |
|  | ***Utilities (0.1%)*** |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp.<br> 5.450%, 10/30/25 |  | 5109850 |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company<br> 5.150%, 10/06/25 |  | 5057400 |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc.<br> 5.000%, 09/27/25 |  | 5036200 |  |
|  |  |  | 15203450 |  |
|  | **TOTAL CORPORATE BOND**<br> (Cost $210,807,955) |  | &nbsp;&nbsp;&nbsp;&nbsp;213779595 |  |
| **NUMBER OF**<br> **SHARES** |  | **VALUE** | **VALUE** |  |
| **CONVERTIBLE PREFERRED STOCKS (1.5%)** | **CONVERTIBLE PREFERRED STOCKS (1.5%)** | **CONVERTIBLE PREFERRED STOCKS (1.5%)** | **CONVERTIBLE PREFERRED STOCKS (1.5%)** |  |
|  | ***Communication Services (0.3%)*** | ***Communication Services (0.3%)*** | ***Communication Services (0.3%)*** | **** |
| 35692 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile Exchangeable Trust~\*<br> 5.250%, 06/01/23 |  | 43022423 |  |
|  | ***Consumer Discretionary (0.2%)*** | ***Consumer Discretionary (0.2%)*** | ***Consumer Discretionary (0.2%)*** | **** |
| 316491 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC~<br> 5.500%, 06/15/23 |  | 39874701 |  |
|  | ***Financials (0.1%)*** |  |  |  |
| 15000 | &nbsp;&nbsp;&nbsp;&nbsp; 2020 Mandatory Exchangeable Trust~\*<br> 6.500%, 05/16/23 |  | 15821025 |  |
|  | ***Industrials (0.2%)*** |  |  |  |
| 246461 | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 6.750%, 12/15/25 |  | 14021166 |  |
| 178572 | &nbsp;&nbsp;&nbsp;&nbsp; Clarivate, PLC~<br> 5.250%, 06/01/24 |  | 8653599 |  |
| 47143 | &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc.~^<br> 5.000%, 10/15/24 |  | 5536946 |  |
|  |  |  | 28211711 |  |
|  | ***Information Technology (0.1%)*** | ***Information Technology (0.1%)*** | ***Information Technology (0.1%)*** | **** |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp.~<br> 6.000%, 07/01/23 |  | 9473500 |  |
|  | ***Utilities (0.6%)*** |  |  |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.~^<br> 6.125%, 08/15/23 |  | 20580000 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 |  | 23975000 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23~ |  | 14367000 |  |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.279%, 03/01/23~ |  | 10247950 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | **VALUE** | |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp.~<br> 5.500%, 08/16/23 | $| 21189000 |  |
|  |  |  | 90358950 |  |
|  | **TOTAL CONVERTIBLE**<br> **PREFERRED STOCKS**<br> (Cost $224,857,250) |  | &nbsp;&nbsp;&nbsp;&nbsp;226762310 |  |
| **COMMON STOCKS (58.1%)** | **COMMON STOCKS (58.1%)** | **COMMON STOCKS (58.1%)** | **COMMON STOCKS (58.1%)** |  |
|  | ***Communication Services (4.1%)*** | ***Communication Services (4.1%)*** | ***Communication Services (4.1%)*** | **** |
| 568149 | &nbsp;&nbsp;&nbsp;&nbsp; Activision Blizzard, Inc.~ |  | 43503169 |  |
| 1135873 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A~# |  | 112269687 |  |
| 1314695 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class C~# |  | 131298590 |  |
| 1234951 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc. |  | 25155952 |  |
| 1012445 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. - Class A~ |  | 39839711 |  |
| 183008 | &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. - Class A |  | 6211291 |  |
| 228013 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc.# |  | 12340064 |  |
| 533268 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A~# |  | 79440934 |  |
| 101872 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.# |  | 36048426 |  |
| 270307 | &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global - Class B |  | 6260310 |  |
| 163081 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc.# |  | 24349624 |  |
| 1094485 | &nbsp;&nbsp;&nbsp;&nbsp; TEGNA, Inc.~ |  | 21813086 |  |
| 942409 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc.~ |  | 39175942 |  |
| 457102 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company~# |  | 49590996 |  |
|  |  |  | 627297782 |  |
|  | ***Consumer Discretionary (5.1%)*** | ***Consumer Discretionary (5.1%)*** | ***Consumer Discretionary (5.1%)*** | **** |
| 2024992 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.~# |  | 208837425 |  |
| 174421 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC# |  | 19725271 |  |
| 8483 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.~# |  | 20648470 |  |
| 230907 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.# |  | 12021018 |  |
| 1095491 | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.^# |  | 11853213 |  |
| 10775 | &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.^# |  | 17739745 |  |
| 64696 | &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc.~ |  | 9573067 |  |
| 479604 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp. - Class A^# |  | 6901502 |  |
| 56118 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp.~ |  | 13109165 |  |
| 196538 | &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc.~ |  | 19396335 |  |
| 184301 | &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. |  | 9122900 |  |
| 940940 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company~ |  | 12712099 |  |
| 353265 | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Company |  | 13890380 |  |
| 244672 | &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc.~ |  | 79315322 |  |
| 543703 | &nbsp;&nbsp;&nbsp;&nbsp; iRobot Corp.# |  | 24466635 |  |
| 197938 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc.~ |  | 41220588 |  |
| 173270 | &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. |  | 46332398 |  |
| 214670 | &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International |  | 8889485 |  |
| 331621 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B~ |  | 42225302 |  |
| 502775 | &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings, Ltd.^# |  | 7647208 |  |
| 26601 | &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.# |  | 21077302 |  |
| 111716 | &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc.~ |  | 13203714 |  |
| 271323 | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp.~ |  | 29612192 |  |
| 122742 | &nbsp;&nbsp;&nbsp;&nbsp; Target Corp.~ |  | 21128808 |  |
| 187923 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# |  | 32552022 |  |
| 307020 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc.~ |  | 25132657 |  |
| 33773 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.^# |  | 17357971 |  |
|  |  |  | 785692194 |  |
|  | ***Consumer Staples (3.4%)*** |  |  |  |
| 398403 | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. |  | 8446144 |  |
| 454798 | &nbsp;&nbsp;&nbsp;&nbsp; Altria Group, Inc.~ |  | 20484102 |  |
| 184992 | &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Company~ |  | 15326587 |  |
| 118887 | &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight Company, Inc. |  | 9613203 |  |
| 788819 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company |  | 48370381 |  |
| 183307 | &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Company~ |  | 13661871 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 91883 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. - Class A | $21272752 |
| 72800 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp.~ | 37210992 |
| 69746 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 19325222 |
| 200502 | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 15711337 |
| 147780 | &nbsp;&nbsp;&nbsp;&nbsp; Kellogg Company~ | 10134752 |
| 110141 | &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 14319432 |
| 254719 | &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Company | 10323761 |
| 264008 | &nbsp;&nbsp;&nbsp;&nbsp; Kroger Company | 11782677 |
| 519960 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A | 34026182 |
| 114448 | &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.# | 11911748 |
| 242552 | &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc.~ | 41481243 |
| 434501 | &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc.~ | 45292384 |
| 426737 | &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Company | 60758814 |
| 198353 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 15364423 |
| 403616 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc.~ | 58068234 |
|  |  | 522886241 |
|  | ***Energy (2.6%)*** |  |
| 471892 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp.~ | 82118646 |
| 302873 | &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips~ | 36911132 |
| 90649 | &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc.~ | 11988330 |
| 556184 | &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp.~ | 64522906 |
| 211792 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 31802687 |
| 627369 | &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 11480853 |
| 412850 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 53059482 |
| 194713 | &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 12615455 |
| 125762 | &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 8612182 |
| 88269 | &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66~ | 8850733 |
| 127378 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 29341522 |
| 279825 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. | 15944428 |
| 85398 | &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp.~ | 11958282 |
| 316548 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Companies, Inc. | 10205508 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;389412146 |
|  | ***Financials (5.6%)*** |  |
| 155937 | &nbsp;&nbsp;&nbsp;&nbsp; Aflac, Inc.~ | 11461370 |
| 121656 | &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp.~ | 15629146 |
| 214643 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company~ | 37547500 |
| 444819 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc.~ | 28121457 |
| 60957 | &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 21342265 |
| 108749 | &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Company | 21284354 |
| 91433 | &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 12123101 |
| 2472297 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.~ | 87717098 |
| 227025 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 11480654 |
| 328192 | &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. - Class B~# | 102238372 |
| 23555 | &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Inc.~ | 17883192 |
| 108098 | &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc. | 13283082 |
| 426654 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.~ | 33031553 |
| 140162 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd.~ | 31885453 |
| 344047 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.~ | 17966134 |
| 48989 | &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 8654397 |
| 137783 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services | 16083410 |
| 132052 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.~ | 48305942 |
| 516311 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 7832438 |
| 597311 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company~ | 83599648 |
| 60594 | &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 9452664 |
| 168110 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. | 29404120 |
| 183167 | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc.~ | 13374854 |
| 309222 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley~ | 30096577 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 97058 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | $9411714 |
| 72941 | &nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc.~ | 7654429 |
| 63315 | &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc. | 23739326 |
| 91668 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp.~ | 8372038 |
| 81304 | &nbsp;&nbsp;&nbsp;&nbsp; Travelers Companies, Inc.~ | 15538820 |
| 163830 | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 8091564 |
| 185377 | &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp | 9231775 |
| 1152908 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~ | 54036798 |
| 292568 | &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp NA | 15552915 |
|  |  | 861428160 |
|  | ***Health Care (7.4%)*** |  |
| 315426 | &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories~ | 34870344 |
| 395669 | &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc.~ | 58460095 |
| 208836 | &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies, Inc. | 31759779 |
| 88694 | &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc.~ | 22386366 |
| 233427 | &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc. | 10665280 |
| 75809 | &nbsp;&nbsp;&nbsp;&nbsp; Becton Dickinson and Company | 19120546 |
| 45359 | &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc.~# | 13194933 |
| 710891 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.# | 32878709 |
| 641453 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company~ | 46601561 |
| 143625 | &nbsp;&nbsp;&nbsp;&nbsp; Centene Corp.# | 10949970 |
| 61117 | &nbsp;&nbsp;&nbsp;&nbsp; Cigna Corp. | 19353920 |
| 269980 | &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp.~ | 23817636 |
| 183216 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 48438646 |
| 123867 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.# | 13264917 |
| 207304 | &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.~# | 15900217 |
| 223838 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 77033848 |
| 78293 | &nbsp;&nbsp;&nbsp;&nbsp; GE Healthcare, Inc.# | 5442929 |
| 286762 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 24070802 |
| 61758 | &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 15752613 |
| 56558 | &nbsp;&nbsp;&nbsp;&nbsp; Horizon Therapeutics, PLC# | 6205544 |
| 37459 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 19167770 |
| 103264 | &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.# | 25370932 |
| 62899 | &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.# | 14429660 |
| 496808 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson~ | 81188363 |
| 55559 | &nbsp;&nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings~ | 14007535 |
| 110778 | &nbsp;&nbsp;&nbsp;&nbsp; LHC Group, Inc.~# | 17569391 |
| 56944 | &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 21563554 |
| 330135 | &nbsp;&nbsp;&nbsp;&nbsp; Medtronic, PLC | 27628998 |
| 549308 | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc. | 59001172 |
| 58255 | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company | 1755223 |
| 1197598 | &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc.~ | 52885928 |
| 74115 | &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc.~ | 11004595 |
| 15056 | &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc.~# | 11419524 |
| 477574 | &nbsp;&nbsp;&nbsp;&nbsp; Signify Health, Inc.# | 13591756 |
| 107598 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.~ | 61366367 |
| 259546 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.~ | 129562768 |
| 91654 | &nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.# | 29613407 |
| 58062 | &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 7393615 |
| 74863 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 12389078 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;1141078291 |
|  | ***Industrials (4.2%)*** |  |
| 91385 | &nbsp;&nbsp;&nbsp;&nbsp; 3M Company | 10516586 |
| 64157 | &nbsp;&nbsp;&nbsp;&nbsp; Allegion, PLC | 7541655 |
| 90214 | &nbsp;&nbsp;&nbsp;&nbsp; Boeing Company~# | 19215582 |
| 352007 | &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 16026879 |
| 175731 | &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc.~ | 44335174 |
| 922637 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.~ | 28527936 |
| 63392 | &nbsp;&nbsp;&nbsp;&nbsp; Deere & Company | 26804673 |
| 213045 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.~# | 8330059 |
| 93343 | &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp., PLC | 15141168 |
| 247403 | &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Company~ | 22320699 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 67477 | &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc.# | $8137726 |
| 54376 | &nbsp;&nbsp;&nbsp;&nbsp; General Dynamics Corp. | 12672871 |
| 234879 | &nbsp;&nbsp;&nbsp;&nbsp; General Electric Company | 18903062 |
| 205844 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 42914357 |
| 435000 | &nbsp;&nbsp;&nbsp;&nbsp; IAA, Inc.# | 18152550 |
| 77576 | &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc.~ | 18311039 |
| 213001 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International, PLC | 14818480 |
| 81898 | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 17593328 |
| 44456 | &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp. | 20594687 |
| 183207 | &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 9746612 |
| 48801 | &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 11995774 |
| 44188 | &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 19797991 |
| 81873 | &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 6732417 |
| 128811 | &nbsp;&nbsp;&nbsp;&nbsp; PACCAR, Inc. | 14080330 |
| 208192 | &nbsp;&nbsp;&nbsp;&nbsp; Pentair, PLC | 11529673 |
| 439477 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp.~ | 43881778 |
| 406045 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company~ | 14524230 |
| 191391 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Airlines, Inc.~ | 3797197 |
| 53698 | &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp.~ | 13629089 |
| 10937 | &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.# | 4640132 |
| 232845 | &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp.~ | 47544621 |
| 147685 | &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. - Class B | 27355693 |
| 72222 | &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. - Class A | 13129237 |
| 137990 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. | 21351193 |
| 101602 | &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc. | 10567624 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;645162102 |
|  | ***Information Technology (12.9%)*** |  |
| 121721 | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A~ | 33966245 |
| 95226 | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.# | 35265997 |
| 434534 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.# | 32655230 |
| 188091 | &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. - Class A~ | 15004019 |
| 3371979 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc.~ | 486542850 |
| 197112 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc.~ | 21976017 |
| 55238 | &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.# | 11885008 |
| 122343 | &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc. | 27626273 |
| 96985 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 56737195 |
| 1156776 | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc.~ | 56300288 |
| 159098 | &nbsp;&nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. - Class A~ | 10619792 |
| 33245 | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.# | 7359778 |
| 144527 | &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc.# | 15418140 |
| 961356 | &nbsp;&nbsp;&nbsp;&nbsp; ForgeRock, Inc.~# | 19092530 |
| 53726 | &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc.# | 18166910 |
| 81920 | &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc. | 9234022 |
| 309607 | &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 9021948 |
| 652959 | &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp.~ | 18452621 |
| 147069 | &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. | 19814606 |
| 55569 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 23487349 |
| 54612 | &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 9835075 |
| 206834 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A | 76652680 |
| 371609 | &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc.~ | 22408023 |
| 1714970 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ | 424986716 |
| 29369 | &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc.^ | 12527641 |
| 88332 | &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 5850228 |
| 587318 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp.~ | 114744318 |
| 87145 | &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors, NV | 16061695 |
| 136264 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.# | 10008591 |
| 312033 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 27602439 |
| 114826 | &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 13303740 |
| 45822 | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.# | 14843579 |
| 165465 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.# | 13483743 |
| 105256 | &nbsp;&nbsp;&nbsp;&nbsp; Qorvo, Inc.# | 11437117 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | **VALUE** | |
| 264858 | &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc. | $| 35281734 |  |
| 251552 | &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc.# |  | 42253189 |  |
| 13000 | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Motion Technology Corp. |  | 833300 |  |
| 124207 | &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. |  | 13621782 |  |
| 29364 | &nbsp;&nbsp;&nbsp;&nbsp; SolarEdge Technologies, Inc.^# |  | 9370933 |  |
| 79728 | &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity, Ltd. |  | 10137415 |  |
| 125221 | &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. |  | 12734976 |  |
| 143271 | &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc.~ |  | 25389054 |  |
| 54000 | &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc.# |  | 1918081 |  |
| 444088 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A~^ |  | 102233499 |  |
| 190500 | &nbsp;&nbsp;&nbsp;&nbsp; VMware, Inc. - Class A~# |  | 23330535 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1979476901 |  |
|  | ***Materials (1.4%)*** |  |  |  |
| 72947 | &nbsp;&nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc.~ |  | 23380243 |  |
| 59471 | &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp. |  | 11266186 |  |
| 78604 | &nbsp;&nbsp;&nbsp;&nbsp; Celanese Corp. - Class A |  | 9684013 |  |
| 207311 | &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. |  | 13361194 |  |
| 207310 | &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. |  | 12303849 |  |
| 186682 | &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. |  | 13805134 |  |
| 568062 | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 25346926 |  |
| 48569 | &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fragrances, Inc. |  | 5462070 |  |
| 159359 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 52738267 |  |
| 89573 | &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. |  | 11674945 |  |
| 55955 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# |  | 25466799 |  |
| 53653 | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Company |  | 12693763 |  |
|  |  |  | 217183389 |  |
|  | ***Real Estate (1.3%)*** |  |  |  |
| 62128 | &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. |  | 9986455 |  |
| 85723 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp.~ |  | 19149661 |  |
| 57155 | &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc.~ |  | 10141583 |  |
| 79196 | &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. |  | 11729720 |  |
| 93184 | &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. |  | 10680750 |  |
| 16422 | &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. |  | 12121571 |  |
| 55178 | &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust |  | 6154002 |  |
| 74064 | &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. |  | 12347950 |  |
| 245003 | &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc.~ |  | 31673988 |  |
| 40786 | &nbsp;&nbsp;&nbsp;&nbsp; Public Storage~ |  | 12412811 |  |
| 141400 | &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. |  | 9591162 |  |
| 115333 | &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. |  | 7684638 |  |
| 444082 | &nbsp;&nbsp;&nbsp;&nbsp; STORE Capital Corp. |  | 14303881 |  |
| 179430 | &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. |  | 7641924 |  |
| 145110 | &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc. |  | 10889054 |  |
| 277144 | &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Company |  | 9542068 |  |
|  |  |  | 196051218 |  |
|  | ***Special Purpose Acquisition Companies (8.6%)#*** | ***Special Purpose Acquisition Companies (8.6%)#*** | ***Special Purpose Acquisition Companies (8.6%)#*** | **** |
| 1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 7 Acquisition Corp.# |  | 18112500 |  |
| 160000 | &nbsp;&nbsp;&nbsp;&nbsp; Accretion Acquisition Corp.# |  | 1636800 |  |
| 616403 | &nbsp;&nbsp;&nbsp;&nbsp; Acropolis Infrastructure Acquisition Corp.# |  | 6201014 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Aesther Healthcare Acquisition Corp. - Class A# |  | 1300000 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Aetherium Acquisition Corp.# |  | 5130000 |  |
| 963772 | &nbsp;&nbsp;&nbsp;&nbsp; Ahren Acquisition Company - Class A# |  | 9926852 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Alpha Partners Technology Merger Corp.# |  | 7586250 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; ALSP Orchid Acquisition Corp. I - Class A# |  | 10335000 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; AltC Acquisition Corp. - Class A# |  | 10020000 |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; AltEnergy Acquisition Corp.# |  | 15412500 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; AMCI Acquisition Corp. II# | $6132000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Andretti Acquisition Corp. - Class A# | 10375000 |
| 485000 | &nbsp;&nbsp;&nbsp;&nbsp; Anthemis Digital Acquisitions I Corp.# | 5022175 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Anzu Special Acquisition Corp. I# | 3027000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Ap Acquisition Corp. - Class A# | 1042000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Apx Acquisition Corp. I# | &nbsp;&nbsp;&nbsp;&nbsp;10350000 |
| 200100 | &nbsp;&nbsp;&nbsp;&nbsp; Ascendant Digital Acquisition Corp. III - Class A# | 2073036 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Athena Technology Acquisition Corp. II - Class A# | 5075000 |
| 240000 | &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Coastal Acquisition Corp. - Class A# | 2421600 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Coastal Acquisition Corp. II - Class A# | 12850000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Aura FAT Projects Acquisition Corp.# | 5160000 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Avalon Acquisition, Inc.# | 2588750 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; AxonPrime Infrastructure Acquisition Corp.# | 5025000 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Principal 250 Merger Corp.# | 2014000 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Banner Acquisition Corp.# | 6096000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Banyan Acquisition Corp. - Class A# | 10320000 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Battery Future Acquisition - Class A# | 15492600 |
| 542433 | &nbsp;&nbsp;&nbsp;&nbsp; Beard Energy Transition Acquisition Corp. - Class A# | 5570787 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Berenson Acquisition Corp. I - Class A# | 5075000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Bilander Acquisition Corp.# | 4985000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; BioPlus Acquisition Corp.# | 10330000 |
| 225500 | &nbsp;&nbsp;&nbsp;&nbsp; Black Mountain Acquisition Corp.# | 2318140 |
| 481099 | &nbsp;&nbsp;&nbsp;&nbsp; Black Spade Acquisition Company# | 4868722 |
| 755104 | &nbsp;&nbsp;&nbsp;&nbsp; Blockchain Coinvestors Acquisition Corp. I - Class A# | 7905939 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Blue Ocean Acquisition Corp.# | 12900000 |
| 141132 | &nbsp;&nbsp;&nbsp;&nbsp; Blue Whale Acquisition Corp. I# | 1392973 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; BurTech Acquisition Corp. - Class A# | 10260000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; byNordic Acquisition Corp.# | 5137500 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; C5 Acquisition Corp.# | 3090000 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Cactus Acquisition Corp.# | 7747500 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; CARTESIAN GROWTH Corp. II# | 15555000 |
| 269402 | &nbsp;&nbsp;&nbsp;&nbsp; Cartica Acquisition Corp.# | 2804475 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Cascadia Acquisition Corp. - Class A# | 3028500 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Catalyst Partners Acquisition Corp.# | 3024000 |
| 478400 | &nbsp;&nbsp;&nbsp;&nbsp; CF Acquisition Corp. VII - Class A# | 4884464 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Chain Bridge I# | 15495000 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp; Chenghe Acquisition Co.# | 7280000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; ColiseumAcquisition Corp.# | 5055000 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Colombier Acquisition Corp.# | 6030000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Compass Digital Acquisition Corp.# | 5055000 |
| 276950 | &nbsp;&nbsp;&nbsp;&nbsp; Concord Acquisition Corp. II# | 2780578 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; Concord Acquisition Corp. III# | 4630500 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Consilium Acquisition Corp. I Ltd.# | 7672500 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Acquisition Corp. I# | 203200 |
| 280268 | &nbsp;&nbsp;&nbsp;&nbsp; Conyers Park III Acquisition Corp.# | 2799877 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** |
| 250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Corazon Capital V838 Monoceros Corp.# | $2538750 |
| 1500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Crescera Capital Acquisition Corp.# | 15510000 |
| 800000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Decarbonization Plus Acquisition Corp. IV# | 8168000 |
| 350000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Denali Capital Acquisition Corp. - Class A# | 3624250 |
| 625000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Digital Transformation Opportunities Corp.# | 6325000 |
| 1500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DP Cap Acquisition Corp. I - Class A# | &nbsp;&nbsp;&nbsp;&nbsp;15510000 |
| 225000 |  | &nbsp;&nbsp;&nbsp;&nbsp; EG Acquisition Corp.# | 2263500 |
| 745522 |  | &nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Horizon - Class A# | 7712425 |
| 1250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Enphys Acquisition Corp.# | 12612500 |
| 1200000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise 4.0 Technology Acquisition Corp.# | 12432000 |
| 140000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ESG Core Investments, BV# | 1491570 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Eve Mobility Acquisition - Class A# | 10320000 |
| 1250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Everest Consolidator Acquisition Corp.# | 12900000 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Evergreen Corp.# | 5160000 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; ExcelFin Acquisition Corp.# | 10300000 |
| 40000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Fast Acquisition Corp. II# | 403600 |
| 244983 |  | &nbsp;&nbsp;&nbsp;&nbsp; Finnovate Acquisition Corp.# | 2533124 |
| 150000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Fintech Ecosystem Development Corp.# | 1555500 |
| 1051600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Focus Impact Acquisition Corp.# | 10810448 |
| 750000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Forbion European Acquisition Corp. - Class A# | 7792500 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Forum Merger IV Corp.# | 5052500 |
| 800000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Investment Corp.# | 8080000 |
| 17200 |  | &nbsp;&nbsp;&nbsp;&nbsp; FTAC Emerald Acquisition Corp. - Class A# | 173892 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp; FTAC Zeus Acquisition Corp. - Class A# | 1016500 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; FutureTech II Acquisition Corp. - Class A# | 5165000 |
| 200000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Galata Acquisition Corp.# | 2059000 |
| 1250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Games & Esports Experience Acquisition Corp.# | 13025000 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Generation Asia I Acquisition Ltd. - Class A# | 5105000 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Genesis Growth Tech Acquisition Corp. - Class A# | 10415000 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Global Systems Dynamics, Inc. - Class A# | 4160000 |
| 50000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Global Technology Acquisition Corp. I - Class A# | 518000 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Gogreen Investments Corp.# | 10460000 |
| 380000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Golden Arrow Merger Corp.# | 3841800 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Green Visor Financial Technology Acquisition Corp. I# | 1040000 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; GSR II Meteora Acquisition Corp. - Class A# | 10215000 |
| 533506 |  | &nbsp;&nbsp;&nbsp;&nbsp; GX Acquisition Corp. II# | 5388411 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Hawks Acquisition Corp.# | 5045000 |
| 1250000 |  | &nbsp;&nbsp;&nbsp;&nbsp; HCM ACQUISITION Corp. - Class A# | 12937500 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Healthcare AI Acquisition Corp. - Class A# | 10335000 |
| 512066 |  | &nbsp;&nbsp;&nbsp;&nbsp; Healthwell Acquisition Corp. I# | 5146263 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Heartland Media Acquisition Corp. - Class A# | 10290000 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 13540 | &nbsp;&nbsp;&nbsp;&nbsp; Home Plate Acquisition Corp. - Class A# | $136619 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Iconic Sports Acquisition Corp. - Class A# | 2081000 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Industrial Tech Acquisitions II, Inc. - Class A# | 7732500 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Infinite Acquisition Corp.# | 15450000 |
| 876447 | &nbsp;&nbsp;&nbsp;&nbsp; Infinite Acquisition Corp.# | 9158871 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Inflection Point Acquisition Corp.# | 10100000 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Innovative International Acquisition Corp.# | 4192000 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp; Insight Acquisition Corp.# | 7108500 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Integral Acquisition Corp.1# | 2547500 |
| 308270 | &nbsp;&nbsp;&nbsp;&nbsp; Integrated Wellness Acquisition Corp. - Class A# | 3184429 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Intelligent Medicine Acquisition Corp.# | 12912500 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Investcorp Europe Acquisition Corp. I - Class A# | 15555000 |
| 30000 | &nbsp;&nbsp;&nbsp;&nbsp; Israel Acquisitions Corp.# | 304500 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; IX Acquisition Corp.# | 5100000 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Jackson Acquisition Company - Class A# | 7665000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Jaws Hurricane Acquisition Corp.# | 1006000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Jaws Juggernaut Acquisition Corp.# | 1018000 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Juniper II Corp.# | 3605000 |
| 296200 | &nbsp;&nbsp;&nbsp;&nbsp; Kensington Capital Acquisition Corp. V - Class A# | 3044936 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Keyarch Acquisition Corp.# | 5107500 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Kimbell Tiger Acquisition Corp.# | 4152000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Knightswan Acquisition Corp. - Class A# | &nbsp;&nbsp;&nbsp;&nbsp;10285000 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; LAMF Global Ventures Corp. I# | 15525000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; LatAmGrowth SPAC# | 5170000 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; LAVA Medtech Acquisition Corp.# | 258000 |
| 825000 | &nbsp;&nbsp;&nbsp;&nbsp; Learn CW Investment Corp. - Class A# | 8439750 |
| 550000 | &nbsp;&nbsp;&nbsp;&nbsp; LF Capital Acquisition Corp. II# | 5670500 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Resources Acquisition Corp.# | 1561500 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Lionheart III Corp. - Class A# | 2074000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; LIV Capital Acquisition Corp. II - Class A# | 5170000 |
| 20888 | &nbsp;&nbsp;&nbsp;&nbsp; Live Oak Crestview Climate Acquisition Corp.# | 208880 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; M3-Brigade Acquisition III Corp.# | 12750000 |
| 850450 | &nbsp;&nbsp;&nbsp;&nbsp; Macondray Capital Acquisition Corp. I# | 8632067 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Mason Industrial Technology, Inc. - Class A# | 4012000 |
| 862277 | &nbsp;&nbsp;&nbsp;&nbsp; McLaren Technology Acquisition Corp.# | 8898699 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercato Partners Acquisition Corp.# | 2590000 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Motive Capital Corp. - Class A# | 12900000 |
| 1350700 | &nbsp;&nbsp;&nbsp;&nbsp; Mountain & Company I Acquisition Corp.# | 14182350 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Nabors Energy Transition Corp.# | 4136000 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; New Providence Acquisition Corp. II# | 15405000 |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; NewHold Investment Corp. II# | 8144000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Nubia Brand International Corp. - Class A# | 5155000 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Onyx Acquisition Company I# | 15570000 |
| 218489 | &nbsp;&nbsp;&nbsp;&nbsp; OPY Acquisition Corp. I# | 2275563 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Orion Biotech Opportunities Corp.# | $3802500 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Papaya Growth Opportunity Corp. I - Class A# | &nbsp;&nbsp;&nbsp;&nbsp;12875000 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Patria Latin American Opportunity Acquisition Corp.# | 3138000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Pearl Holdings Acquisition Corp. - Class A# | 10320000 |
| 918300 | &nbsp;&nbsp;&nbsp;&nbsp; Pegasus Digital Mobility Acquisition Corp. - Class A# | 9504405 |
| 710000 | &nbsp;&nbsp;&nbsp;&nbsp; Pine Technology Acquisition Corp. - Class A# | 7178100 |
| 432281 | &nbsp;&nbsp;&nbsp;&nbsp; Portage Fintech Acquisition Corp.# | 4383329 |
| 92081 | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings Partnering Corp.# | 923572 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Power & Digital Infrastructure Acquisition II Corp. - Class A# | 1014000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Project Energy Reimagined Acquisition Corp.# | 5052500 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; PROOF Acquisition Corp. I# | 15390000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Pyrophyte Acquisition Corp.# | 1039500 |
| 1373044 | &nbsp;&nbsp;&nbsp;&nbsp; RCF Acquisition Corp.# | 14197275 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Rigel Resource Acquisition Corp. - Class A# | 20700000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; ROC Energy Acquisition Corp.# | 5160000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Roth CH Acquisition V Company# | 5112500 |
| 301696 | &nbsp;&nbsp;&nbsp;&nbsp; Schultze Special Purpose Acquisition Corp. II# | 3077299 |
| 421000 | &nbsp;&nbsp;&nbsp;&nbsp; Sculptor Acquisition Corp. I - Class A# | 4361560 |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; SDCL EDGE Acquisition Corp.# | 8120000 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Seaport Calibre Materials Acquisition Corp.# | 1647000 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Seaport Global Acquisition II Corp.# | 1541250 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Semper Paratus Acquisition Corp.# | 20560000 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; ShoulderUp Technology Acquisition Corp.# | 20530000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; SHUAA Partners Acquisition Corp. I# | 5187500 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Signal Hill Acquisition Corp.# | 5130000 |
| 507400 | &nbsp;&nbsp;&nbsp;&nbsp; SILVERspac, Inc. - Class A# | 5129814 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Sizzle Acquisition Corp.# | 10380000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Skydeck Acquisition Corp.# | 5060000 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Sound Point Acquisition Corp. I, Ltd.# | 3135000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Southport Acquisition Corp.# | 10265000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; SportsMap Tech Acquisition Corp.# | 1030000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Spree Acquisition Corp. 1, Ltd.# | 5175000 |
| 600573 | &nbsp;&nbsp;&nbsp;&nbsp; Springwater Special Situations Corp.# | 6134853 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; ST Energy Transition I, Ltd.# | 15457500 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneBridge Acquisition Corp.# | 5230000 |
| 292080 | &nbsp;&nbsp;&nbsp;&nbsp; Summit Healthcare Acquisition Corp.# | 2957310 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Supernova Partners Acquisition Co. III, Ltd.# | 1015000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Swiftmerge Acquisition Corp. - Class A# | 5105000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Talon 1 Acquisition Corp.# | 1050000 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Target Global Acquisition I Corp.# | 10350000 |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp; TB SA Acquisition Corp. - Class A# | 7112000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Thunder Bridge Capital Partners IV, Inc.# | 5020000 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** | **VALUE** | |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; TKB Critical Technologies 1# | $| 3135000 |  |
| 657389 | &nbsp;&nbsp;&nbsp;&nbsp; Tlgy Acquisition Corp.# |  | 6807263 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; TortoiseEcofin Acquisition Corp. III# |  | 5055000 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Trajectory Alpha Acquisition Corp.# |  | 5065000 |  |
| 1485784 | &nbsp;&nbsp;&nbsp;&nbsp; Trine II Acquisition Corp.# |  | 15363007 |  |
| 900000 | &nbsp;&nbsp;&nbsp;&nbsp; Tristar Acquisition I Corp.# |  | 9225000 |  |
| 700558 | &nbsp;&nbsp;&nbsp;&nbsp; UTA Acquisition Corp.# |  | 7215747 |  |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Vahanna Tech Edge Acquisition I Corp.# |  | 12925000 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Valor Latitude Acquisition Corp.# |  | 507500 |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; VMG Consumer Acquisition Corp.# |  | 15390000 |  |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; Waverley Capital Acquisition Corp. 1# |  | 8080000 |  |
| 800000 | &nbsp;&nbsp;&nbsp;&nbsp; World Quantum Growth Acquisition Corp.# |  | 8200000 |  |
| 579015 | &nbsp;&nbsp;&nbsp;&nbsp; Worldwide Webb Acquisition Corp.# |  | 5929114 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Energy Transition Acquisition Corp.# |  | 1006000 |  |
|  |  |  | 1321667327 |  |
|  | ***Utilities (1.5%)*** |  |  |  |
| 441457 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.~ |  | 12100336 |  |
| 172637 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power<br> Company, Inc.~ |  | 16220973 |  |
| 160286 | &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp.~ |  | 10128472 |  |
| 134201 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. |  | 12790697 |  |
| 49173 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. |  | 4197407 |  |
| 158626 | &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc.~ |  | 10094959 |  |
| 219198 | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp.~ |  | 22456835 |  |
| 105359 | &nbsp;&nbsp;&nbsp;&nbsp; Edison International |  | 7259235 |  |
| 98132 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. |  | 10625733 |  |
| 147519 | &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. |  | 6223827 |  |
| 222143 | &nbsp;&nbsp;&nbsp;&nbsp; FirstEnergy Corp.~ |  | 9096756 |  |
| 362249 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  | 27034643 |  |
| 271892 | &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. |  | 7545003 |  |
| 620610 | &nbsp;&nbsp;&nbsp;&nbsp; PNM Resources, Inc.~ |  | 30707783 |  |
| 170679 | &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc.~ |  | 10570150 |  |
| 243976 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company |  | 16512296 |  |
| 195281 | &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. |  | 13429474 |  |
|  |  |  | 226994579 |  |
|  | **TOTAL COMMON STOCKS**<br> (Cost $7,304,043,862) |  | 8914330330 |  |
| **EXCHANGE-TRADED FUND (1.3%)** | **EXCHANGE-TRADED FUND (1.3%)** |  |  |  |
|  | ***Other (1.3%)*** |  |  |  |
| 516147 | &nbsp;&nbsp;&nbsp;&nbsp; Vanguard S&P 500 ETF<br> (Cost $183,477,148) |  | 192749936 |  |
| **INVESTMENT IN AFFILIATED FUND (2.1%)** | **INVESTMENT IN AFFILIATED FUND (2.1%)** | **INVESTMENT IN AFFILIATED FUND (2.1%)** | **INVESTMENT IN AFFILIATED FUND (2.1%)** |  |
|  | ***Other (2.1%)*** |  |  |  |
| 35117150 | &nbsp;&nbsp;&nbsp;&nbsp; Calamos Short-Term Bond Fund<br> (Cost $350,000,000) |  | 330452380 |  |
| **WARRANTS (0.0%) #** | **WARRANTS (0.0%) #** |  |  |  |
|  | ***Consumer Discretionary (0.0%)*** | ***Consumer Discretionary (0.0%)*** | ***Consumer Discretionary (0.0%)*** | **** |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; ECARX Holdings, Inc. 12/21/27, Strike $11.50 |  | 2250 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; Lanvin Group Holdings, Ltd.<br> 11/21/27, Strike $11.50 | $8050 |  |
|  |  | 10300 |  |
|  | ***Financials (0.0%)*** |  |  |
| 62500 | &nbsp;&nbsp;&nbsp;&nbsp; Aries I Acquisition Corp.<br> 05/07/23, Strike $11.50 | 4809 |  |
|  | ***Health Care (0.0%)*** |  |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Omniab, Inc.<br> 04/06/26, Strike $11.50 | &nbsp;&nbsp;&nbsp;&nbsp;140000 |  |
|  | ***Industrials (0.0%)*** |  |  |
| 116666 | &nbsp;&nbsp;&nbsp;&nbsp; Terran Orbital Corp.<br> 03/25/27, Strike $11.50 | 15307 |  |
|  | ***Information Technology (0.0%)*** |  |  |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; MariaDB, PLC<br> 12/16/27, Strike $11.50 | 69166 |  |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Rubicon Technologies, Inc.<br> 04/01/27, Strike $11.50 | 24500 |  |
|  |  | 93666 |  |
|  | ***Other (0.0%)*** |  |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; SpringBig Holdings, Inc.&<br> 06/14/27, Strike $11.50 | 12525 |  |
|  | ***Special Purpose Acquisition Companies (0.0%)*** | ***Special Purpose Acquisition Companies (0.0%)*** | **** |
| 83333 | &nbsp;&nbsp;&nbsp;&nbsp; 10X Capital Venture Acquisition Corp.<br> 12/31/27, Strike $11.50 | 8208 |  |
| 312972 | &nbsp;&nbsp;&nbsp;&nbsp; 10X Capital Venture Acquisition Corp. III<br> 12/31/27, Strike $11.50 | 31548 |  |
| 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 7 Acquisition Corp.<br> 11/05/26, Strike $11.50 | 96469 |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; Accretion Acquisition Corp.<br> 02/19/23, Strike $11.50 | 3420 |  |
| 205467 | &nbsp;&nbsp;&nbsp;&nbsp; Acropolis Infrastructure Acquisition Corp.<br> 03/31/26, Strike $11.50 | 23660 |  |
| 62500 | &nbsp;&nbsp;&nbsp;&nbsp; Aesther Healthcare Acquisition Corp. - Class A<br> 01/19/23, Strike $11.50 | 10466 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Aetherium Acquisition Corp.<br> 01/21/28, Strike $11.50 | 13550 |  |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; African Gold Acquisition Corp.<br> 03/13/28, Strike $11.50 | 75 |  |
| 183333 | &nbsp;&nbsp;&nbsp;&nbsp; Agile Growth Corp.<br> 12/31/27, Strike $11.50 | 7608 |  |
| 481886 | &nbsp;&nbsp;&nbsp;&nbsp; Ahren Acquisition Corp.<br> 06/17/28, Strike $11.50 | 53272 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Alpha Partners Technology Merger Corp.<br> 02/05/22, Strike $11.50 | 30000 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; ALSP Orchid Acquisition Corp. I<br> 11/30/28, Strike $11.50 | 17500 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Altenergy Acquisition Corp.<br> 02/06/23, Strike $11.50 | 147300 |  |
| 2500 | &nbsp;&nbsp;&nbsp;&nbsp; Altimar Acquisition Corp. III<br> 12/31/28, Strike $11.50 | 1263 |  |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Alvarium Tiedmann Holdings, Inc.<br> 12/31/27, Strike $11.50 | 42000 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; AMCI Acquisition Corp. II<br> 12/31/28, Strike $11.50 | 81000 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Andretti Acquisition Corp.<br> 03/23/23, Strike $11.50 | $35450 |
| 242500 | &nbsp;&nbsp;&nbsp;&nbsp; Anthemis Digital Acquisitions I Corp.<br> 04/01/23, Strike $11.50 | 23050 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Anzu Special Acquisition Corp. I<br> 12/31/27, Strike $11.50 | 4290 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; AP Acquisition Corp.<br> 12/07/26, Strike $11.50 | 5200 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Apeiron Capital Investment Corp.<br> 06/24/23, Strike $11.50 | 25000 |
| 2000 | &nbsp;&nbsp;&nbsp;&nbsp; Apollo Strategic Growth Capital II<br> 12/31/27, Strike $11.50 | 450 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; APx Acquisition Corp. I<br> 08/19/23, Strike $11.50 | 16800 |
| 116666 | &nbsp;&nbsp;&nbsp;&nbsp; Arbor Rapha Capital Bioholdings Corp. I<br> 03/14/23, Strike $11.50 | 11270 |
| 6275 | &nbsp;&nbsp;&nbsp;&nbsp; Arctos NorthStar Acquisition Corp.<br> 12/31/28, Strike $11.50 | 628 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Acquisition Corp.<br> 12/31/27, Strike $11.50 | 16000 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Arrowroot Acquisition Corp.<br> 01/29/26, Strike $11.50 | 585 |
| 100050 | &nbsp;&nbsp;&nbsp;&nbsp; Ascendant Digital Acquisition Corp. III<br> 04/19/23, Strike $11.50 | 1001 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Athena Consumer Acquisition Corp.<br> 07/20/23, Strike $11.50 | 22500 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Athena Technology Acquisition Corp. II<br> 06/10/23, Strike $11.50 | 15662 |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Coastal Acquisition Corp.<br> 12/31/27, Strike $11.50 | 5808 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; Atlantic Coastal Acquisition Corp. II<br> 06/02/23, Strike $11.50 | 20625 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Aura FAT Projects Acquisition Corp.<br> 06/02/27, Strike $11.50 | 20000 |
| 187500 | &nbsp;&nbsp;&nbsp;&nbsp; Avalon Acquisition, Inc.<br> 02/26/23, Strike $11.50 | 14531 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; AxonPrime Infrastructure Acquisition Corp.<br> 07/08/23, Strike $11.50 | 16667 |
| 66666 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Principal 250 Merger Corp.<br> 12/31/27, Strike $11.50 | 2007 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Banner Acquisition Corp.<br> 01/15/23, Strike $11.50 | 6750 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Banyan Acquisition Corp.<br> 09/30/28, Strike $11.50 | 17525 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Battery Future Acquisition Corp.<br> 05/26/23, Strike $11.50 | 60075 |
| 271216 | &nbsp;&nbsp;&nbsp;&nbsp; Beard Energy Transition Acquisition Corp.<br> 12/31/27, Strike $11.50 | 16273 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Belong Aquisition Corp.<br> 12/31/27, Strike $11.50 | 24000 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Berenson Acquisition Corp. I<br> 08/01/26, Strike $11.50 | 3000 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Bilander Acquisition Corp.<br> 12/31/27, Strike $11.50 | 47750 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; BioPlus Acquisition Corp.<br> 07/19/23, Strike $11.50 | 40000 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 169125 | &nbsp;&nbsp;&nbsp;&nbsp; Black Mountain Acquisition Corp.<br> 10/15/27, Strike $11.50 | $12008 |
| 240549 | &nbsp;&nbsp;&nbsp;&nbsp; Black Spade Acquisition Company<br> 06/29/23, Strike $11.50 | 26460 |
| 377552 | &nbsp;&nbsp;&nbsp;&nbsp; Blockchain Coinvestors Acquisition Corp. I<br> 11/01/28, Strike $11.50 | 32281 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; Blue Ocean Acquisition Corp.<br> 10/21/23, Strike $11.50 | 47156 |
| 35283 | &nbsp;&nbsp;&nbsp;&nbsp; Blue Whale Acquisition Corp. I<br> 07/09/23, Strike $11.50 | 4151 |
| 33333 | &nbsp;&nbsp;&nbsp;&nbsp; BlueRiver Acquisition Corp.<br> 01/04/26, Strike $11.50 | 1847 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Bridger Aerospace Group Hold<br> Wildfire New Pubco, Inc. 27<br> 12/31/27, Strike $11.50 | 5000 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Build Acquisition Corp.<br> 04/29/23, Strike $11.50 | 9167 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; BurTech Acquisition Corp.<br> 08/19/23, Strike $11.50 | 20900 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; byNordic Acquisition Corp.<br> 02/09/27, Strike $11.50 | 5075 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Byte Acquisition Corp.<br> 12/31/28, Strike $11.50 | 18950 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; C5 Acquisition Corp.<br> 05/19/28, Strike $11.50 | 3315 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Cactus Acquisition Corp. 1, Ltd.<br> 07/20/23, Strike $11.50 | 14662 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Canna-Global Acquisition Corp.<br> 02/09/28, Strike $11.50 | 7520 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; CARTESIAN GROWTH Corp. II<br> 07/12/28, Strike $11.50 | 75000 |
| 134701 | &nbsp;&nbsp;&nbsp;&nbsp; Cartica Acquisition Corp.<br> 04/30/28, Strike $11.50 | 11436 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Cascadia Acquisition Corp.<br> 02/05/23, Strike $11.50 | 6450 |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; Catalyst Partners Acquisition Corp. 12/31/27, Strike $11.50 | 72 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Catcha Investment Corp.<br> 12/31/27, Strike $11.50 | 1313 |
| 159466 | &nbsp;&nbsp;&nbsp;&nbsp; CF Acquisition Corp. VII<br> 03/15/26, Strike $11.50 | 20970 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Chain Bridge I<br> 12/31/28, Strike $11.50 | 102825 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Chenghe Acquisition Company<br> 04/28/27, Strike $11.50 | 36207 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; ColiseumAcquisition Corp.<br> 12/31/28, Strike $11.50 | 21667 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Colombier Acquisition Corp.<br> 12/31/28, Strike $11.50 | 19080 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Compass Digital Acquisition Corp.<br> 09/14/23, Strike $11.50 | 20850 |
| 37500 | &nbsp;&nbsp;&nbsp;&nbsp; Compute Health Acquisition Corp.<br> 12/31/27, Strike $11.50 | 4826 |
| 92316 | &nbsp;&nbsp;&nbsp;&nbsp; Concord Acquisition Corp. II<br> 12/31/28, Strike $11.50 | 11595 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; Concord Acquisition Corp. III<br> 12/31/28, Strike $11.50 | 17595 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Consilium Acquisition Corp. I, Ltd.<br> 06/01/27, Strike $11.50 | 13125 |
| 6666 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Acquisition Corp. I<br> 12/31/27, Strike $11.50 | 267 |
| 93422 | &nbsp;&nbsp;&nbsp;&nbsp; Conyers Park III Acquisition Corp.<br> 08/12/28, Strike $11.50 | 13079 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | | **VALUE** |
| 83333 |  | &nbsp;&nbsp;&nbsp;&nbsp; Corazon Capital V838 Monoceros Corp.<br> 12/31/28, Strike $11.50 | $2500 |
| 41666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Corner Growth Acquisition Corp. 2<br> 03/01/23, Strike $11.50 | 1719 |
| 750000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Crescera Capital Acquisition Corp.<br> 04/20/23, Strike $11.50 | 37425 |
| 133333 |  | &nbsp;&nbsp;&nbsp;&nbsp; Crown PropTech Acquisitions<br> 12/31/27, Strike $11.50 | 13333 |
| 66666 |  | &nbsp;&nbsp;&nbsp;&nbsp; D & Z Media Acquisition Corp.<br> 12/31/27, Strike $11.50 | 73 |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Decarbonization Plus Acquisition Corp. IV<br> 12/31/28, Strike $11.50 | 286000 |
| 350000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Denali Capital Acquisition Corp.<br> 04/07/27, Strike $11.50 | 21035 |
| 166666 |  | &nbsp;&nbsp;&nbsp;&nbsp; DHC Acquisition Corp.<br> 12/31/27, Strike $11.50 | 3050 |
| 25000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DiamondHead Holdings Corp.<br> 01/28/28, Strike $11.50 | 6250 |
| 156250 |  | &nbsp;&nbsp;&nbsp;&nbsp; Digital Transformation Opportunities Corp.<br> 03/31/28, Strike $11.50 | 13281 |
| 166666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Disruptive Acquisition Corp. I<br> 03/06/26, Strike $11.50 | 8317 |
| 750000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DP Cap Acquisition Corp. I - Class A<br> 04/22/23, Strike $11.50 | 100725 |
| 150000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DTRT Health Acquisition Corp.<br> 11/12/22, Strike $11.50 | 150 |
| 50000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Edify Acquisition Corp.<br> 12/31/27, Strike $11.50 | 3125 |
| 75000 |  | &nbsp;&nbsp;&nbsp;&nbsp; EG Acquisition Corp.<br> 05/28/28, Strike $11.50 | 13500 |
| 372761 |  | &nbsp;&nbsp;&nbsp;&nbsp; Emerging Markets Horizon Corp.<br> 02/08/28, Strike $11.50 | 23465 |
| 125000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Energem Corp.<br> 03/10/23, Strike $11.50 | 11237 |
| 625000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Enphys Acquisition Corp.<br> 07/15/24, Strike $11.50 | 68750 |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise 4.0 Technology<br> Acquisition Corp.<br> 09/24/23, Strike $11.50 | 19380 |
| 5000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ESG Core Investments, BV<br> 12/31/27, Strike 11.50 | 5 |
| 87500 |  | &nbsp;&nbsp;&nbsp;&nbsp; ESGEN Acquisition Corp.<br> 06/28/23, Strike $11.50 | 5469 |
| 133333 |  | &nbsp;&nbsp;&nbsp;&nbsp; Esm Acquisition Corp.<br> 02/02/26, Strike $11.50 | 19333 |
| 33333 |  | &nbsp;&nbsp;&nbsp;&nbsp; European Biotech Acquisition Corp.<br> 05/10/26, Strike $11.50 | 14462 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; EVe Mobility Acquisition Corp.<br> 05/12/23, Strike $11.50 | 40050 |
| 625000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Everest Consolidator Acquisition<br> Corp.<br> 07/19/23, Strike $11.50 | 9937 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Evergreen Corp.<br> 02/15/27, Strike $11.50 | 7200 |
| 500000 |  | &nbsp;&nbsp;&nbsp;&nbsp; ExcelFin Acquisition Corp.<br> 07/05/23, Strike $11.50 | 32250 |
| 10000 |  | &nbsp;&nbsp;&nbsp;&nbsp; FAST Acquisition Corp. II<br> 03/16/26, Strike $11.50 | 5500 |
| 183737 |  | &nbsp;&nbsp;&nbsp;&nbsp; Finnovate Acquisition Corp.<br> 04/15/23, Strike $11.50 | 4777 |
| 3750 |  | &nbsp;&nbsp;&nbsp;&nbsp; FinServ Acquisition Corp. II<br> 02/18/23, Strike $11.50 | 98 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Fintech Ecosystem Development<br> Corp.<br> 12/31/28, Strike $11.50 | $1950 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Fintech Evolution Acquisition Group<br> 03/31/28, Strike $11.50 | 750 |
| 525800 | &nbsp;&nbsp;&nbsp;&nbsp; Focus Impact Acquisition Corp.<br> 04/23/23, Strike $11.50 | 38331 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Forbion European Acquisition Corp.<br> 05/23/28, Strike $11.50 | 45000 |
| 4000 | &nbsp;&nbsp;&nbsp;&nbsp; Forest Road Acquisition Corp. II<br> 01/15/26, Strike $11.50 | 1133 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Forum Merger IV Corp.<br> 12/31/27, Strike $11.50 | 7500 |
| 42500 | &nbsp;&nbsp;&nbsp;&nbsp; Freedom Acquisition I Corp.<br> 12/31/27, Strike $11.50 | 10200 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Acquisition Corp.<br> 12/31/28, Strike $11.50 | 881 |
| 266666 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Investment Corp.<br> 12/31/26, Strike $11.50 | 19200 |
| 8600 | &nbsp;&nbsp;&nbsp;&nbsp; FTAC Emerald Acquisition Corp.<br> 08/22/28, Strike $11.50 | 838 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; FTAC Hera Acquisition Corp.<br> 12/31/27, Strike $11.50 | 5625 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; FTAC Zeus Acquisition Corp.<br> 12/31/27, Strike $11.50 | 1500 |
| 141666 | &nbsp;&nbsp;&nbsp;&nbsp; Fusion Acquisition Corp. II<br> 12/31/27, Strike $11.50 | 2833 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Future Health ESG Corp.<br> 02/19/23, Strike $11.50 | 12400 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; FutureTech II Acquisition Corp.<br> 02/16/27, Strike $11.50 | 12000 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Galata Acquisition Corp.<br> 12/31/28, Strike $11.50 | 8700 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; Games & Esports Experience<br> Acquisition Corp.<br> 10/21/23, Strike $11.50 | 18750 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Generation Asia I Acquisition, Ltd.<br> 07/24/28, Strike $11.50 | 25000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Genesis Growth Tech Acquisition<br> Corp.<br> 05/19/28, Strike $11.50 | 90000 |
| 425000 | &nbsp;&nbsp;&nbsp;&nbsp; GigCapital5, Inc.<br> 12/31/28, Strike $11.50 | 13727 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Systems Dynamics Inc.<br> 12/31/27, Strike $11.50 | 13000 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Technology Acquisition Corp. I<br> 07/13/23, Strike $11.50 | 3000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Gogreen Investments Corp.<br> 06/04/23, Strike $11.50 | 225000 |
| 126666 | &nbsp;&nbsp;&nbsp;&nbsp; Golden Arrow Merger Corp.<br> 07/31/26, Strike $11.50 | 4237 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Green Visor Financial Technology<br> Acquisition Corp. I<br> 05/08/23, Strike $11.50 | 1875 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Grove Collaborative Hldgs, Inc.<br> 03/13/26, Strike $11.50 | 700 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; GSR II Meteora Acquisition Corp.<br> 07/22/23, Strike $11.50 | 190000 |
| 177835 | &nbsp;&nbsp;&nbsp;&nbsp; GX Acquisition Corp. II<br> 12/31/28, Strike $11.50 | 113814 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawks Acquisition Corp.<br> 01/29/23, Strike $11.50 | 1750 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; HCM ACQUISITION Corp.<br> 12/31/27, Strike $11.50 | 15500 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Healthcare AI Acquisition Corp.<br> 12/14/26, Strike $11.50 | $44300 |
| 256033 | &nbsp;&nbsp;&nbsp;&nbsp; Healthwell Acquisition Corp. I<br> 08/05/28, Strike $11.50 | 22787 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Heartland Media Acquisition Corp.<br> 10/21/27, Strike $11.50 | 31650 |
| 6770 | &nbsp;&nbsp;&nbsp;&nbsp; Home Plate Acquisition Corp.<br> 03/03/23, Strike $11.50 | 445 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Ibere Pharmaceuticals<br> 12/31/27, Strike $11.50 | 2563 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Iconic Sports Acquisition Corp.<br> 04/06/23, Strike $11.50 | 22315 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Independence Holdings Corp.<br> 03/31/28, Strike $11.50 | 600 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Industrial Tech Acquisitions II, Inc.<br> 12/31/28, Strike $11.50 | 35625 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Infinite Acquisition Corp.<br> 11/23/28, Strike $11.50 | 90975 |
| 438223 | &nbsp;&nbsp;&nbsp;&nbsp; InFinT Acquisition Corp.<br> 05/19/27, Strike $11.50 | 35058 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Inflection Point Acquisition Corp.<br> 03/05/23, Strike $11.50 | 143425 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Innovative International<br> Acquisition Corp.<br> 04/03/23, Strike $11.50 | 8300 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Insight Acquisition Corp.<br> 02/11/23, Strike $11.50 | 1995 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Integral Acquisition Corp.1<br> 12/14/28, Strike $11.50 | 5925 |
| 154135 | &nbsp;&nbsp;&nbsp;&nbsp; Integrated Wellness Acquisition Corp.<br> 10/31/28, Strike $11.50 | 42880 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; Intelligent Medicine Acquisitin Corp.<br> 01/13/23, Strike $11.50 | 22437 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Investcorp Europe Acquisition Corp. I<br> 11/23/28, Strike $11.50 | 23925 |
| 6250 | &nbsp;&nbsp;&nbsp;&nbsp; Iris Acquisition Corp.<br> 03/05/26, Strike $11.50 | 610 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Itiquira Acquisition Corp.<br> 12/31/27, Strike $11.50 | 891 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; IX Acquisition Corp.<br> 11/24/26, Strike $11.50 | 4588 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Jackson Acquisition Company<br> 12/31/28, Strike $11.50 | 18750 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Jatt Acquisition Corp.<br> 06/15/23, Strike $11.50 | 56260 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Jaws Hurricane Acquisition Corp.<br> 02/23/23, Strike $11.50 | 3153 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Jaws Juggernaut Acquisition Corp.<br> 02/12/26, Strike $11.50 | 3753 |
| 43750 | &nbsp;&nbsp;&nbsp;&nbsp; Jaws Mustang Acquisition Corp.<br> 01/30/26, Strike $11.50 | 2866 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Juniper II Corp.<br> 12/31/28, Strike $11.50 | 28000 |
| 222150 | &nbsp;&nbsp;&nbsp;&nbsp; Kensington Capital Acquisition Corp. V<br> 07/19/23, Strike $11.50 | 39987 |
| 25060 | &nbsp;&nbsp;&nbsp;&nbsp; Kernel Group Holdings, Inc.<br> 01/31/27, Strike $11.50 | 2334 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Keyarch Acquisition Corp.<br> 07/25/28, Strike $11.50 | 19687 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Kimbell Tiger Acquisition Corp.<br> 07/29/23, Strike $11.50 | 30000 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Kismet Acquisition Three Corp.<br> 12/31/27, Strike $11.50 | $83 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Kismet Acquisition Two Corp. - Class A<br> 12/31/27, Strike $11.50 | 5800 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; KnightSwan Acquisition Corp.<br> 07/21/28, Strike $11.50 | 59575 |
| 33333 | &nbsp;&nbsp;&nbsp;&nbsp; L Catterton Asia Acquisition Corp.<br> 03/15/26, Strike $11.50 | 22666 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; LAMF Global Ventures Corp. I<br> 04/04/23, Strike $11.50 | 60000 |
| 4564 | &nbsp;&nbsp;&nbsp;&nbsp; Landcadia Holdings IV, Inc.<br> 12/31/28, Strike $11.50 | 571 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; LatAmGrowth SPAC<br> 01/25/28, Strike $11.50 | 25000 |
| 12500 | &nbsp;&nbsp;&nbsp;&nbsp; LAVA Medtech Acquisition Corp.<br> 04/01/23, Strike $11.50 | 1096 |
| 1000 | &nbsp;&nbsp;&nbsp;&nbsp; LDH Growth Corp. I<br> 12/31/28, Strike $11.50 | 42 |
| 412500 | &nbsp;&nbsp;&nbsp;&nbsp; Learn CW Investment Corp.<br> 12/31/28, Strike $11.50 | 36898 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Legato Merger Corp. II<br> 02/05/23, Strike $11.50 | 352500 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Levere Holdings Corp.<br> 12/31/28, Strike $11.50 | 1490 |
| 275000 | &nbsp;&nbsp;&nbsp;&nbsp; LF Capital Acquisition Corp. II<br> 01/07/26, Strike $11.50 | 8277 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Resources Acquisition Corp.<br> 10/31/28, Strike $11.50 | 8700 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Lionheart III Corp. - Class A<br> 03/19/23, Strike $11.50 | 11000 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; LIV Capital Acquisition Corp. II<br> 02/16/27, Strike $11.50 | 46875 |
| 6962 | &nbsp;&nbsp;&nbsp;&nbsp; Live Oak Crestview Climate Acquisition Corp.<br> 03/12/26, Strike $11.50 | 2506 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Live Oak Mobility Acquisition<br> Corp.<br> 03/04/28, Strike $11.50 | 5700 |
| 416666 | &nbsp;&nbsp;&nbsp;&nbsp; M3-Brigade Acquisition III Corp.<br> 05/11/23, Strike $11.50 | 164583 |
| 228160 | &nbsp;&nbsp;&nbsp;&nbsp; Marblegate Acquisition Corp.<br> 12/09/22, Strike $11.50 | 23957 |
| 133333 | &nbsp;&nbsp;&nbsp;&nbsp; Mason Industrial Technology, Inc.<br> 12/31/27, Strike $11.50 | 2667 |
| 431138 | &nbsp;&nbsp;&nbsp;&nbsp; McLaren Technology Acquisition Corp.<br> 03/03/23, Strike $11.50 | 12934 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercato Partners Acquisition Corp.<br> 12/28/26, Strike $11.50 | 7500 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Metals Acquisition Corp.<br> 07/12/26, Strike $11.50 | 117500 |
| 416666 | &nbsp;&nbsp;&nbsp;&nbsp; Motive Capital Corp. II<br> 05/15/23, Strike $11.50 | 35333 |
| 675350 | &nbsp;&nbsp;&nbsp;&nbsp; Mountain & Company I Acquisition Corp.<br> 08/24/23, Strike $11.50 | 26204 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Nabors Energy Transition Corp.<br> 11/17/26, Strike $11.50 | 16000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; New Providence Acquisition Corp. II<br> 12/31/27, Strike $11.50 | 22600 |
| 1666 | &nbsp;&nbsp;&nbsp;&nbsp; New Vista Acquisition Corp.<br> 12/31/27, Strike $11.50 | 83 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Newcourt Acquisition Corp.<br> 04/12/28, Strike $11.50 | $10400 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; NewHold Investment Corp. II<br> 10/21/23, Strike $11.50 | 48000 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Nogin, Inc.<br> 08/27/27, Strike $11.50 | 7400 |
| 4532 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Genesis Acquisition Corp. III<br> 12/31/27, Strike $11.50 | 680 |
| 3333 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Star Investment Corp. III<br> 02/25/28, Strike $11.50 | 67 |
| 3333 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Star Investment Corp. IV 12/31/27, Strike $11.50 | 117 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Nubia Brand International Corp.<br> 11/16/26, Strike $11.50 | 15937 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; OceanTech Acquisitions I Corp.<br> 05/10/26, Strike $11.50 | 5250 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Omnilit Acquisition Corp.<br> 04/06/23, Strike $11.50 | 21250 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Onyx Acquisition Company I<br> 01/07/23, Strike $11.50 | 142350 |
| 242744 | &nbsp;&nbsp;&nbsp;&nbsp; Opy Acquisition Corp. I<br> 04/08/23, Strike $11.50 | 37164 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Orion Biotech Opportunities Corp. 12/31/27, Strike $11.50 | 23325 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; Osiris Acquisition Corp.<br> 05/01/28, Strike $11.50 | 37350 |
| 625000 | &nbsp;&nbsp;&nbsp;&nbsp; Papaya Growth Opportunity Corp. I<br> 12/31/28, Strike $11.50 | 38125 |
| 187500 | &nbsp;&nbsp;&nbsp;&nbsp; Parabellum Acquisition Corp.<br> 03/26/23, Strike $11.50 | 8437 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Patria Latin American Opportunity<br> Acquisition Corp.<br> 03/10/27, Strike $11.50 | 12510 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Pearl Holdings Acquisition Corp.<br> 12/15/26, Strike $11.50 | 40500 |
| 459150 | &nbsp;&nbsp;&nbsp;&nbsp; Pegasus Digital Mobility Acquisition Corp.<br> 12/28/22, Strike $11.50 | 11433 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; PepperLime Health Acquisition Corp.<br> 03/28/23, Strike $11.50 | 26250 |
| 192245 | &nbsp;&nbsp;&nbsp;&nbsp; Perception Capital Corp. II<br> 12/31/28, Strike $11.50 | 20195 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Peridot Acquisition Corp. II<br> 04/30/28, Strike $11.50 | 4700 |
| 12500 | &nbsp;&nbsp;&nbsp;&nbsp; Phoenix Biotech Acquisition Corp. 09/01/26, Strike $11.50 | 636 |
| 236666 | &nbsp;&nbsp;&nbsp;&nbsp; Pine Technology Acquisition Corp.<br> 03/31/28, Strike $11.50 | 4733 |
| 3000 | &nbsp;&nbsp;&nbsp;&nbsp; Pivotal Investment Corp. III<br> 12/31/27, Strike $11.50 | 150 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Plum Acquisition Corp. I<br> 12/31/28, Strike $11.50 | 790 |
| 285000 | &nbsp;&nbsp;&nbsp;&nbsp; Pono Capital Corp.<br> 12/16/22, Strike $11.50 | 31977 |
| 144093 | &nbsp;&nbsp;&nbsp;&nbsp; Portage Fintech Acquisition Corp.<br> 06/18/23, Strike $11.50 | 20173 |
| 30693 | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings Partnering Corp.<br> 02/09/23, Strike $11.50 | 4297 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Power & Digital Infrastructure<br> Acquisition II Corp.<br> 12/14/24, Strike $11.50 | 4510 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Prenetics Global, Ltd. - Class A<br> 12/31/26, Strike $8.91 | 24200 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 83333 | &nbsp;&nbsp;&nbsp;&nbsp; Priveterra Acquisition Corp.<br> 12/31/27, Strike $11.50 | $6000 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Project Energy Reimagined<br> Acquisition Corp.<br> 12/31/28, Strike $11.50 | 22025 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; PROOF Acquisition Corp. I<br> 12/03/23, Strike $11.50 | 31950 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Pyrophyte Acquisition Corp.<br> 12/17/23, Strike $11.50 | 2890 |
| 686522 | &nbsp;&nbsp;&nbsp;&nbsp; RCF Acquisition Corp.<br> 04/25/23, Strike $11.50 | 54922 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Rigel Resource Acquisition Corp.<br> 04/19/23, Strike $11.50 | 128900 |
| 40000 | &nbsp;&nbsp;&nbsp;&nbsp; RMG Acquisition Corp. III<br> 12/31/27, Strike $11.50 | 4404 |
| 115402 | &nbsp;&nbsp;&nbsp;&nbsp; Rose Hill Acquisition Corp.<br> 03/03/23, Strike $11.50 | 18257 |
| 81526 | &nbsp;&nbsp;&nbsp;&nbsp; Rosecliff Acquisition Corp. I<br> 12/31/27, Strike $11.50 | 4900 |
| 133333 | &nbsp;&nbsp;&nbsp;&nbsp; Ross Acquisition Corp. II<br> 02/12/26, Strike $11.50 | 29333 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Roth Ch Acquisition IV Company<br> 01/09/23, Strike $11.50 | 31250 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Roth CH Acquisition V Company<br> 12/10/26, Strike $11.50 | 13550 |
| 150848 | &nbsp;&nbsp;&nbsp;&nbsp; Schultze Special Purpose Acquisition Corp. II<br> 03/25/28, Strike $11.50 | 2278 |
| 33333 | &nbsp;&nbsp;&nbsp;&nbsp; ScION Tech Growth II<br> 01/28/26, Strike $11.50 | 90 |
| 210500 | &nbsp;&nbsp;&nbsp;&nbsp; Sculptor Acquisition Corp. I<br> 04/15/23, Strike $11.50 | 21460 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; SDCL EDGE Acquisition Corp.<br> 03/23/26, Strike $11.50 | 116000 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Seaport Calibre Materials Acquisition<br> Corp.<br> 01/19/23, Strike $11.50 | 3686 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Seaport Global Acquisition II Corp.<br> 11/01/23, Strike $11.50 | 2925 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Semper Paratus Acquisition Corp.<br> 11/04/26, Strike $11.50 | 23750 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; SEP Acquisition Corp.<br> 03/25/23, Strike $11.50 | 10850 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; ShoulderUp Technology<br> Acquisition Corp.<br> 07/26/23, Strike $11.50 | 33600 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; SHUAA Partners Acquisition Corp. I<br> 03/02/27, Strike $11.50 | 20000 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Signal Hill Acquisition Corp.<br> 02/11/27, Strike $11.50 | 6000 |
| 52005 | &nbsp;&nbsp;&nbsp;&nbsp; Silver Spike Acquisition Corp. II<br> 02/26/26, Strike $11.50 | 962 |
| 169133 | &nbsp;&nbsp;&nbsp;&nbsp; Silverspc, Inc. - Class A<br> 02/16/23, Strike $11.50 | 25387 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Sizzle Acquisition Corp.<br> 03/12/26, Strike $11.50 | 147475 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Skydeck Acquisition Corp.<br> 12/31/27, Strike $11.50 | 9833 |
| 7500 | &nbsp;&nbsp;&nbsp;&nbsp; Slam Corp.<br> 12/31/27, Strike $11.50 | 707 |
| 2500 | &nbsp;&nbsp;&nbsp;&nbsp; Social Leverage Acquisition Corp. I<br> 12/31/27, Strike $11.50 | 253 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | **VALUE** |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Sound Point Acquisition Corp. I, Ltd.<br> 03/02/27, Strike $11.50 | $16935 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Southport Acquisition Corp.<br> 05/24/28, Strike $11.50 | 22700 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; SportsMap Tech Acquisition Corp.<br> 09/01/27, Strike $11.50 | 4088 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Spree Acquisition Corp. 1, Ltd.<br> 12/22/28, Strike $11.50 | 8962 |
| 300286 | &nbsp;&nbsp;&nbsp;&nbsp; Springwater Special Situations Corp.<br> 04/12/26, Strike $11.50 | 10510 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; ST Energy Transition I, Ltd.<br> 12/02/26, Strike $11.50 | 150000 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneBridge Acquisition Corp.<br> 02/26/23, Strike $11.50 | 17525 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Stratim Cloud Acquisition Corp.<br> 03/05/26, Strike $11.50 | 2675 |
| 146040 | &nbsp;&nbsp;&nbsp;&nbsp; Summit Healthcare Acquisition Corp.<br> 05/03/23, Strike $11.50 | 46331 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Supernova Partners Acquisition Co. III, Ltd.<br> 03/31/27, Strike $11.50 | 720 |
| 12500 | &nbsp;&nbsp;&nbsp;&nbsp; Sustainable Development Acquisition I<br> Corp.<br> 12/31/28, Strike $11.50 | 975 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Swiftmerge Acquisition Corp.<br> 06/17/23, Strike $11.50 | 35000 |
| 83333 | &nbsp;&nbsp;&nbsp;&nbsp; Tailwind International Acquisition Corp.<br> 03/01/28, Strike $11.50 | 1667 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Talon 1 Acquisition Corp.<br> 04/18/23, Strike $11.50 | 3108 |
| 333333 | &nbsp;&nbsp;&nbsp;&nbsp; Target Global Acquisition I Corp.<br> 12/31/27, Strike $11.50 | 41633 |
| 233333 | &nbsp;&nbsp;&nbsp;&nbsp; TB SA Acquisition Corp.<br> 03/25/28, Strike $11.50 | 7023 |
| 166666 | &nbsp;&nbsp;&nbsp;&nbsp; Tech and Energy Transition Corp.<br> 12/31/27, Strike $11.50 | 5017 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; Thunder Bridge Capital Partners III, Inc.<br> 02/15/28, Strike $11.50 | 2400 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Thunder Bridge Capital Partners IV, Inc.<br> 03/12/23, Strike $11.50 | 17305 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; TKB Critical Technologies 1<br> 01/08/23, Strike $11.50 | 39000 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; TLG Acquisition One Corp.<br> 01/25/28, Strike $11.50 | 16000 |
| 328694 | &nbsp;&nbsp;&nbsp;&nbsp; Tlgy Acquisition Corp.<br> 01/14/23, Strike $11.50 | 10272 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; TortoiseEcofin Acquisition Corp. III<br> 02/26/23, Strike $11.50 | 23750 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Trajectory Alpha Acquisition Corp.<br> 12/31/27, Strike $11.50 | 20062 |
| 742892 | &nbsp;&nbsp;&nbsp;&nbsp; Trine II Acquisition Corp.<br> 12/31/27, Strike $11.50 | 62700 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; Tristar Acquisition I Corp.<br> 12/31/28, Strike $11.50 | 13140 |
| 179109 | &nbsp;&nbsp;&nbsp;&nbsp; Twelve Seas Investment Company II<br> 03/02/28, Strike $11.50 | 4460 |
| 83333 | &nbsp;&nbsp;&nbsp;&nbsp; Twin Ridge Capital Acquisition Corp.<br> 12/31/28, Strike $11.50 | 5125 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | | **VALUE** | |
| 350279 |  | &nbsp;&nbsp;&nbsp;&nbsp; UTA Acquisition Corp.<br> 10/30/26, Strike $11.50 | $68585 |  |
| 625000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Vahanna Tech Edge Acquisition I Corp.<br> 07/13/24, Strike $11.50 | 22500 |  |
| 16666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Valor Latitude Acquisition Corp.<br> 12/31/28, Strike $11.50 | 582 |  |
| 750000 |  | &nbsp;&nbsp;&nbsp;&nbsp; VMG Consumer Acquisition Corp.<br> 07/03/23, Strike $11.50 | 29587 |  |
| 1000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Warburg Pincus Capital Corp. I - Class A<br> 12/31/27, Strike $11.50 | 10 |  |
| 4000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Warburg Pincus Capital Corp. I - Class B<br> 03/09/26, Strike $11.50 | 511 |  |
| 266666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Waverley Capital Acquisition Corp. 1<br> 04/30/27, Strike $11.50 | 19507 |  |
| 400000 |  | &nbsp;&nbsp;&nbsp;&nbsp; World Quantum Growth Acquisition Corp.<br> 12/31/28, Strike $11.50 | 16000 |  |
| 289507 |  | &nbsp;&nbsp;&nbsp;&nbsp; Worldwide Webb Acquisition Corp.<br> 03/27/23, Strike $11.50 | 22292 |  |
| 266666 |  | &nbsp;&nbsp;&nbsp;&nbsp; Xpac Acquisition Corp.<br> 05/13/27, Strike $11.50 | 36000 |  |
| 33333 |  | &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Energy Transition Acquisition Corp.<br> 05/14/23, Strike $11.50 | 5147 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7293246 |  |
|  |  | **TOTAL WARRANTS**<br> (Cost $7,353,899) | 7569853 |  |
| **RIGHTS (0.0%) #** | **RIGHTS (0.0%) #** | **RIGHTS (0.0%) #** | **RIGHTS (0.0%) #** |  |
|  |  | ***Special Purpose Acquisition Companies (0.0%)*** | ***Special Purpose Acquisition Companies (0.0%)*** | **** |
| 160000 |  | Accretion Acquisition Corp.,<br> (Expires 3/1/28) | 16400 |  |
| 750000 |  | Consilium Acquisition Corp. I Ltd.,<br> (Expires 7/1/23) | 66562 |  |
| 150000 |  | Fintech Ecosystem Development Corp.,<br> (Expires 4/1/26) | 16778 |  |
| 62500 |  | GSR II Meteora Acquisition Corp.,<br> (Expires 3/1/27) | 94375 |  |
| 500000 |  | Keyarch Acquisition Corp.,<br> (Expires 1/31/24) | 60000 |  |
| 500000 |  | ROC Energy Acquisition Corp.,<br> (Expires 11/30/28) | 100000 |  |
|  |  | **TOTAL RIGHTS**<br> (Cost $187,632) | 354115 |  |
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** |  |  | **VALUE** |  |
| **PURCHASED OPTIONS (0.3%) #** | **PURCHASED OPTIONS (0.3%) #** | **PURCHASED OPTIONS (0.3%) #** | **PURCHASED OPTIONS (0.3%) #** |  |
|  |  | ***Communication Services (0.0%)*** |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Cyberagent, Inc. |  |  |
| 10 | JPY |  |  |  |
| 920000000 |  | Call, 02/17/23, Strike 95.84 | $31169 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | | **VALUE** | **VALUE** | |
| 30 | JPY |  |  |  |  |
| 300000000 |  | Call, 02/19/25, Strike 93.40 | $| 283607 |  |
| 70 | JPY |  |  |  |  |
| 64400000 |  | Call, 02/17/23, Strike 95.44 |  | 239646 |  |
| 165 | JPY | Koei Tecmo Holdings Company, Ltd. |  |  |  |
| 1650000000 |  | Call, 12/20/24, Strike 97.97 |  | 1259615 |  |
| 50 | JPY | Zenrin Company, Ltd. |  |  |  |
| 500000000 |  | Call, 03/31/23, Strike 96.21 |  | 127393 |  |
|  |  |  |  | 1941430 |  |
|  |  | ***Consumer Discretionary (0.1%)*** | ***Consumer Discretionary (0.1%)*** | ***Consumer Discretionary (0.1%)*** | **** |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Edion Corp. |  |  |  |
| 60 | JPY |  |  |  |  |
| 600000000 |  | Call, 06/19/25, Strike 99.51 |  | 810356 |  |
| 50 | JPY |  |  |  |  |
| 500000000 |  | Call, 06/19/25, Strike 95.45 |  | 822178 |  |
| 50 | JPY |  |  |  |  |
| 5000000 |  | Call, 06/19/25, Strike 94.30 |  | 866352 |  |
| 100 | JPY |  |  |  |  |
| 1000000000 |  | H.I.S. Company, Ltd. |  |  |  |
|  |  | Call, 11/15/24, Strike 96.54 |  |  |  |
| 100 | JPY | Kyoritsu Maintenance Company, Ltd. |  |  |  |
| 1000000000 |  | Call, 01/29/26, Strike 94.89 |  | 3233639 |  |
| 5 | JPY | Kyoritsu Maintenance Company, Ltd. |  |  |  |
| 50000000 |  | Call, 01/29/26, Strike 95.73 |  | 158440 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Takashimaya Company, Ltd. |  |  |  |
| 100 | JPY |  |  |  |  |
| 10000000 |  | Call, 12/06/23, Strike 97.28 |  | 777447 |  |
| 50 | JPY |  |  |  |  |
| 5000000 |  | Call, 12/06/23, Strike 97.29 |  | 388282 |  |
| 50 | JPY |  |  |  |  |
| 5000000 |  | Call, 12/06/23, Strike 97.18 |  | 392250 |  |
|  |  |  |  | 7448944 |  |
|  |  | ***Consumer Staples (0.0%)*** |  |  |  |
| 5500 |  | Beyond Meat, Inc. |  |  |  |
| 9036500 |  | Put, 01/19/24, Strike $10.00 |  | 2378750 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Ezaki Glico Company, Ltd. |  |  |  |
| 100 | JPY |  |  |  |  |
| 10000000 |  | Call, 01/30/24, Strike 97.57 |  | 194574 |  |
| 50 | JPY |  |  |  |  |
| 5000000 |  | Call, 01/30/24, Strike 96.89 |  | 125257 |  |
| 50 | JPY | Nippn Corp. |  |  |  |
| 500000000 |  | Call, 06/20/25, Strike 98.27 |  | 162471 |  |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2861052 |  |
|  |  | ***Health Care (0.0%)*** |  |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Ship Healthcare Holdings, Inc. |  |  |  |
| 72 | JPY |  |  |  |  |
| 720000000 |  | Call, 12/13/23, Strike 97.95 |  | 408350 |  |
| 50 | JPY |  |  |  |  |
| 500000000 |  | Call, 12/13/23, Strike 97.68 |  | 293971 |  |
| 25 | JPY |  |  |  |  |
| 250000000 |  | Call, 12/13/23, Strike 98.32 |  | 134661 |  |
| 100 | JPY |  |  |  |  |
| 1000000000 |  | Toho Holdings Company, Ltd. |  |  |  |
|  |  | Call, 06/23/23, Strike 98.43 |  | 114360 |  |
|  |  |  |  | 951342 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | | **VALUE** |
|  |  | ***Industrials (0.0%)*** |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; ANA Holdings, Inc. |  |
| 100 | JPY |  |  |
| 1000000000 |  | Call, 12/08/28, Strike 86.09 | $2876188 |
| 100 | JPY |  |  |
| 44800000 |  | Call, 09/19/24, Strike 96.53 | 246945 |
| 100 |  | Asashi Refining US, Inc. |  |
| 884540000 |  | Call, 03/16/26, Strike $88.78 | 360000 |
| 160 | JPY |  |  |
| 1600000000 |  | Seino Holdings Company, Ltd. |  |
|  |  | Call, 03/31/26, Strike 97.31 | 476019 |
|  |  |  | 3959152 |
|  |  | ***Information Technology (0.0%)*** |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Digital Garage, Inc. |  |
| 150 | JPY |  |  |
| 15000000 |  | Call, 09/14/23, Strike 94.68 | 863967 |
| 50 | JPY |  |  |
| 5000000 |  | Call, 09/14/23, Strike 94.80 | 283360 |
| 540 |  | Unity Software, Inc. |  |
| 1918080 |  | Put, 02/24/23, Strike $34.00 | 161730 |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1309057 |
|  |  | ***Materials (0.0%)*** |  |
| 45 | JPY | Maeda Kosen Company, Ltd. |  |
| 450000000 |  | Call, 04/18/24, Strike 99.90 | 299066 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. |  |
| 100 | JPY |  |  |
| 1000000000 |  | Call, 10/04/24, Strike 98.59 | 1394070 |
| 50 | JPY |  |  |
| 500000000 |  | Call, 10/05/26, Strike 96.93 | 984702 |
| 34 | JPY |  |  |
| 340000000 |  | Call, 10/05/26, Strike 97.61 | 647059 |
|  |  |  | 3324897 |
|  |  | ***Other (0.2%)*** |  |
| 7500 |  |  |  |
| 3057450000 |  | S&P 500 Index |  |
|  |  | Call, 03/31/23, Strike $4,500.00 | 3862500 |
| 5000 |  |  |  |
| 2038300000 |  | Put, 02/28/23, Strike $3,650.00 | 2975000 |
| 4000 |  |  |  |
| 1630640000 |  | Put, 03/31/23, Strike $3,500.00 | 5340000 |
| 3000 |  |  |  |
| 1222980000 |  | Call, 02/28/23, Strike $4,300.00 | 2085000 |
| 3000 |  |  |  |
| 1222980000 |  | Put, 03/31/23, Strike $3,700.00 | 8055000 |
| 2500 |  |  |  |
| 1019150000 |  | Put, 02/28/23, Strike $3,900.00 | 6800000 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | | **VALUE** | **VALUE** | |
| 500 |  |  |  |  |  |
| 203830000 |  | Put, 02/28/23, Strike $3,600.00 | $| 232500 |  |
|  |  |  |  | 29350000 |  |
|  |  | **TOTAL PURCHASED OPTIONS**<br> (Cost $77,759,263) |  | 51145874 |  |
| **NUMBER OF<br>SHARES/<br>PRINCIPAL<br>AMOUNT** |  |  | **VALUE** | **VALUE** |  |
| **INVESTMENT OF CASH COLLATERAL FOR<br>SECURITIES LOANED (0.7%)** | **INVESTMENT OF CASH COLLATERAL FOR<br>SECURITIES LOANED (0.7%)** | **INVESTMENT OF CASH COLLATERAL FOR<br>SECURITIES LOANED (0.7%)** |  |  |  |
| 35924608 |  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund - Capital Class, 4.490%\*\*\*† |  | 35924608 |  |
| 75270742 |  | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† |  | 75270742 |  |
|  |  | **TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED**<br> (Cost $111,195,350) |  | 111195350 |  |
| **TOTAL INVESTMENTS (102.0%)** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $14,117,466,745) | **TOTAL INVESTMENTS (102.0%)** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $14,117,466,745) | **TOTAL INVESTMENTS (102.0%)** <br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $14,117,466,745) |  | 15667904451 |  |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-0.7%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-0.7%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-0.7%) |  | (111195350) |  |
| LIABILITIES, LESS OTHER ASSETS (-1.3%) | LIABILITIES, LESS OTHER ASSETS (-1.3%) | LIABILITIES, LESS OTHER ASSETS (-1.3%) |  | (204392953) |  |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $| 15352316148 |  |
| **NUMBER OF<br>SHARES** |  |  | **VALUE** | **VALUE** |  |
| **COMMON STOCKS SOLD SHORT (-17.3%) #** | **COMMON STOCKS SOLD SHORT (-17.3%) #** | **COMMON STOCKS SOLD SHORT (-17.3%) #** | **COMMON STOCKS SOLD SHORT (-17.3%) #** | **COMMON STOCKS SOLD SHORT (-17.3%) #** |  |
|  |  | ***Communication Services (-1.8%)*** | ***Communication Services (-1.8%)*** | ***Communication Services (-1.8%)*** | **** |
| (12430) |  | &nbsp;&nbsp;&nbsp;&nbsp; Bandwidth, Inc. - Class A |  | (309258) |  |
| (390848) |  | &nbsp;&nbsp;&nbsp;&nbsp; Bilibili, Inc. |  | (9771200) |  |
| (224000) | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Cellnex Telecom, SA\* |  | (8737558) |  |
| (398500) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; CyberAgent, Inc. |  | (3692168) |  |
| (114600) |  | &nbsp;&nbsp;&nbsp;&nbsp; Eventbrite, Inc. - Class A |  | (1018794) |  |
| (100000) |  | &nbsp;&nbsp;&nbsp;&nbsp; iQIYI, Inc. |  | (670000) |  |
| (69800) |  | &nbsp;&nbsp;&nbsp;&nbsp; JOYY, Inc. |  | (2490464) |  |
| (273100) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Koei Tecmo Holdings Company, Ltd. |  | (4938942) |  |
| (8884169) | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke KPN, NV |  | (30337120) |  |
| (103913) |  | &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc. |  | (8363957) |  |
| (260300) |  | &nbsp;&nbsp;&nbsp;&nbsp; Lyft, Inc. - Class A |  | (4229875) |  |
| (253347) |  | &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc. |  | (13711140) |  |
| (4500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Perficient, Inc. |  | (333630) |  |
| (49600) |  | &nbsp;&nbsp;&nbsp;&nbsp; Radius Global Infrastructure, Inc. |  | (668112) |  |
| (218738) |  | &nbsp;&nbsp;&nbsp;&nbsp; Sea, Ltd. |  | (14097664) |  |
| (736267) |  | &nbsp;&nbsp;&nbsp;&nbsp; Snap, Inc. - Class A |  | (8511246) |  |
| (259300) |  | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc. |  | (38716083) |  |
| (123492) |  | &nbsp;&nbsp;&nbsp;&nbsp; TechTarget, Inc. |  | (6116559) |  |
| (39170) |  | &nbsp;&nbsp;&nbsp;&nbsp; TripAdvisor, Inc. |  | (912661) |  |
| (1131999) |  | &nbsp;&nbsp;&nbsp;&nbsp; World Wrestling Entertainment, Inc. - Class A |  | (95789755) |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br> &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF <br>SHARES** | | | **VALUE** | **VALUE** | |
| (517000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Zillow Group, Inc. - Class C | $| (22856570) |  |
|  |  |  |  | (276272756) |  |
|  |  | ***Consumer Discretionary (-3.4%)*** | ***Consumer Discretionary (-3.4%)*** | ***Consumer Discretionary (-3.4%)*** | **** |
| (44300) |  | &nbsp;&nbsp;&nbsp;&nbsp; 2U, Inc. |  | (382309) |  |
| (89000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc. - Class A |  | (9888790) |  |
| (1296400) | HKD | &nbsp;&nbsp;&nbsp;&nbsp; ANTA Sports Products, Ltd. |  | (19575414) |  |
| (321250) |  | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC |  | (36330163) |  |
| (1980000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp. |  | (21423600) |  |
| (18500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Cheesecake Factory, Inc. |  | (726125) |  |
| (61898) |  | &nbsp;&nbsp;&nbsp;&nbsp; Chegg, Inc. |  | (1285003) |  |
| (300000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Chewy, Inc. - Class A |  | (13518000) |  |
| (16323) |  | &nbsp;&nbsp;&nbsp;&nbsp; Cracker Barrel Old Country Store, Inc. |  | (1821320) |  |
| (49178) | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Delivery Hero, SE\* |  | (2952275) |  |
| (705961) |  | &nbsp;&nbsp;&nbsp;&nbsp; Dick's Sporting Goods, Inc. |  | (92311460) |  |
| (117300) |  | &nbsp;&nbsp;&nbsp;&nbsp; DraftKings, Inc. - Class A |  | (1758327) |  |
| (878100) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; EDION Corp. |  | (8655186) |  |
| (429959) |  | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc. |  | (59153759) |  |
| (353500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Farfetch, Ltd. - Class A |  | (2410870) |  |
| (320000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company |  | (4323200) |  |
| (279080) |  | &nbsp;&nbsp;&nbsp;&nbsp; Guess?, Inc. |  | (6466284) |  |
| (168800) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kyoritsu Maintenance Company, Ltd. |  | (7677148) |  |
| (249900) |  | &nbsp;&nbsp;&nbsp;&nbsp; Li Auto, Inc. |  | (6222510) |  |
| (212901) |  | &nbsp;&nbsp;&nbsp;&nbsp; Luminar Technologies, Inc. |  | (1420050) |  |
| (59217) |  | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. |  | (9477089) |  |
| (41000) | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Meituan - Class B\* |  | (912953) |  |
| (27504) |  | &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc. |  | (32501202) |  |
| (205000) |  | &nbsp;&nbsp;&nbsp;&nbsp; National Vision Holdings, Inc. |  | (8425500) |  |
| (622200) |  | &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings, Ltd. |  | (9463662) |  |
| (20000) | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ocado Group, PLC |  | (159284) |  |
| (180550) |  | &nbsp;&nbsp;&nbsp;&nbsp; Pinduoduo, Inc. |  | (17690289) |  |
| (330832) |  | &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd. |  | (21484230) |  |
| (21000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Shake Shack, Inc. - Class A |  | (1194480) |  |
| (130355) |  | &nbsp;&nbsp;&nbsp;&nbsp; Stride, Inc. |  | (5596140) |  |
| (395800) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Takashimaya Company, Ltd. |  | (5518972) |  |
| (416358) |  | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc. |  | (72121533) |  |
| (398602) |  | &nbsp;&nbsp;&nbsp;&nbsp; Wayfair, Inc. - Class A |  | (24115421) |  |
| (138300) |  | &nbsp;&nbsp;&nbsp;&nbsp; Winnebago Industries, Inc. |  | (8806944) |  |
|  |  |  |  | (515769492) |  |
|  |  | ***Consumer Staples (-0.1%)*** |  |  |  |
| (173100) |  | &nbsp;&nbsp;&nbsp;&nbsp; Beauty Health Company |  | (1973340) |  |
| (47000) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nippn Corp. |  | (586394) |  |
| (92400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc. |  | (8773380) |  |
| (69400) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Yaoko Company, Ltd. |  | (3614889) |  |
|  |  |  |  | (14948003) |  |
|  |  | ***Energy (-1.1%)*** |  |  |  |
| (90968) |  | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil and Gas, Inc. |  | (3049247) |  |
| (715806) |  | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company |  | (164885912) |  |
|  |  |  |  | (167935159) |  |
|  |  | ***Financials (-0.1%)*** |  |  |  |
| (30500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc. - Class A |  | (1783640) |  |
| (34000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Hope Bancorp, Inc. |  | (438260) |  |
| (38800) |  | &nbsp;&nbsp;&nbsp;&nbsp; PRA Group, Inc. |  | (1561312) |  |
| (107000) |  | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Technologies, Inc. |  | (741510) |  |
| (118855) |  | &nbsp;&nbsp;&nbsp;&nbsp; Voya Financial, Inc. |  | (8292513) |  |
|  |  |  |  | (12817235) |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | | **VALUE** |
|  |  | ***Health Care (-1.9%)*** |  |
| (56000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc. | $(12678400) |
| (154300) |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc. | (2008986) |
| (30400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ascendis Pharma, A/S | (3772032) |
| (125066) |  | &nbsp;&nbsp;&nbsp;&nbsp; Bridgebio Pharma, Inc. | (1160613) |
| (87790) |  | &nbsp;&nbsp;&nbsp;&nbsp; Coherus Biosciences, Inc. | (744459) |
| (79000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc. | (2218320) |
| (85019) |  | &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp. | (8141419) |
| (5864) |  | &nbsp;&nbsp;&nbsp;&nbsp; CryoPort, Inc. | (133875) |
| (389514) |  | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc. | (41713054) |
| (433000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp. | (16882670) |
| (105000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Evolent Health, Inc. - Class A | (3383100) |
| (460224) |  | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. | (23825797) |
| (911100) |  | &nbsp;&nbsp;&nbsp;&nbsp; Innoviva, Inc. | (11525415) |
| (160531) |  | &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc. | (3456232) |
| (101000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp. | (29019320) |
| (56000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Integer Holdings Corp. | (3685360) |
| (1092487) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ironwood Pharmaceuticals, Inc. | (12585450) |
| (111600) |  | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals, PLC | (17483256) |
| (40580) |  | &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc. | (2333350) |
| (9000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Mesa Laboratories, Inc. | (1750860) |
| (212500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Natera, Inc. | (9122625) |
| (15000) |  | &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc. | (178200) |
| (79521) |  | &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc. | (8821265) |
| (110600) |  | &nbsp;&nbsp;&nbsp;&nbsp; NextGen Healthcare, Inc. | (2103612) |
| (40400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Novocure, Ltd. | (3683672) |
| (65000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc. | (3605550) |
| (91800) |  | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc. | (3604986) |
| (97000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Revance Therapeutics, Inc. | (3363960) |
| (351675) |  | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc. | (43948825) |
| (275000) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Ship Healthcare Holdings, Inc. | (5319786) |
| (10000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Teladoc Health, Inc. | (294000) |
| (682149) |  | &nbsp;&nbsp;&nbsp;&nbsp; Veradigm, Inc. | (12217289) |
|  |  |  | (294765738) |
|  |  | ***Industrials (-1.0%)*** |  |
| (782400) |  | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc. | (12627936) |
| (208100) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; ANA Holdings, Inc. | (4587585) |
| (30955) |  | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc. | (6049845) |
| (320700) |  | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc. | (42967386) |
| (513000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Clarivate, PLC | (5704560) |
| (109003) |  | &nbsp;&nbsp;&nbsp;&nbsp; FTI Consulting, Inc. | (17388158) |
| (54380) |  | &nbsp;&nbsp;&nbsp;&nbsp; Greenbrier Companies, Inc. | (1681430) |
| (54800) |  | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp. | (6122804) |
| (99200) |  | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp. | (15420640) |
| (19000) |  | &nbsp;&nbsp;&nbsp;&nbsp; RBC Bearings, Inc. | (4635430) |
| (228462) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ritchie Bros Auctioneers, Inc. | (13815097) |
| (65442) | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Safran, SA | (9376949) |
| (77000) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Seino Holdings Company, Ltd. | (765475) |
| (71600) |  | &nbsp;&nbsp;&nbsp;&nbsp; Stem, Inc. | (705976) |
| (145305) |  | &nbsp;&nbsp;&nbsp;&nbsp; Upwork, Inc. | (1883153) |
| (615000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Virgin Galactic Holdings, Inc. | (3394800) |
|  |  |  | (147127224) |
|  |  | ***Information Technology (-7.0%)*** |  |
| (206345) |  | &nbsp;&nbsp;&nbsp;&nbsp; 3D Systems Corp. | (2240907) |
| (806900) |  | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc. | (71773755) |
| (84250) |  | &nbsp;&nbsp;&nbsp;&nbsp; Altair Engineering, Inc. - Class A | (4473675) |
| (13835) |  | &nbsp;&nbsp;&nbsp;&nbsp; Alteryx, Inc. - Class A | (767704) |
| (109700) |  | &nbsp;&nbsp;&nbsp;&nbsp; Bentley Systems, Inc. - Class B | (4283785) |
| (168259) |  | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc. | (19454106) |
| (326692) |  | &nbsp;&nbsp;&nbsp;&nbsp; Blackline, Inc. | (23456486) |
| (354000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc. | (28928880) |
| (700000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc. - Class A | (22393000) |
| (24003) |  | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | (14041995) |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF <br>SHARES** | | | **VALUE** |
| (27900) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ceridian HCM Holding, Inc. | $(2016612) |
| (88594) |  | &nbsp;&nbsp;&nbsp;&nbsp; Cloudflare, Inc. - Class A | (4687509) |
| (172975) |  | &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp. | (7507115) |
| (111800) |  | &nbsp;&nbsp;&nbsp;&nbsp; Confluent, Inc. | (2582580) |
| (27825) |  | &nbsp;&nbsp;&nbsp;&nbsp; Coupa Software, Inc. | (2223774) |
| (62900) |  | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd. | (8861352) |
| (164100) |  | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc. - Class A | (12276321) |
| (75000) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Digital Garage, Inc. | (2659125) |
| (64050) |  | &nbsp;&nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc. | (1879867) |
| (702200) |  | &nbsp;&nbsp;&nbsp;&nbsp; Dropbox, Inc. - Class A | (16312106) |
| (58734) |  | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc. | (13002533) |
| (119900) |  | &nbsp;&nbsp;&nbsp;&nbsp; Envestnet, Inc. | (7793500) |
| (42000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Five9, Inc. | (3308760) |
| (59833) |  | &nbsp;&nbsp;&nbsp;&nbsp; Guidewire Software, Inc. | (4382169) |
| (35500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc. | (4607190) |
| (1038000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Infinera Corp. | (7598160) |
| (158400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Insight Enterprises, Inc. | (17854848) |
| (70973) |  | &nbsp;&nbsp;&nbsp;&nbsp; InterDigital, Inc. | (4964561) |
| (47916) |  | &nbsp;&nbsp;&nbsp;&nbsp; Itron, Inc. | (2753732) |
| (115000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Jamf Holding Corp. | (2285050) |
| (11862000) | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Lenovo Group, Ltd. | (9485183) |
| (567439) |  | &nbsp;&nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc. | (34148479) |
| (256329) |  | &nbsp;&nbsp;&nbsp;&nbsp; MongoDB, Inc. - Class A | (54908235) |
| (8500) |  | &nbsp;&nbsp;&nbsp;&nbsp; New Relic, Inc. | (518925) |
| (246976) |  | &nbsp;&nbsp;&nbsp;&nbsp; Nice, Ltd. | (51230232) |
| (110850) |  | &nbsp;&nbsp;&nbsp;&nbsp; Nova, Ltd. | (10054095) |
| (69587) |  | &nbsp;&nbsp;&nbsp;&nbsp; Nutanix, Inc. - Class A | (1939390) |
| (114162) |  | &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc. | (8403465) |
| (962600) |  | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp. | (70702970) |
| (1940023) |  | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. | (307765249) |
| (43800) |  | &nbsp;&nbsp;&nbsp;&nbsp; Pegasystems, Inc. | (1702944) |
| (124000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Progress Software Corp. | (6576960) |
| (36500) |  | &nbsp;&nbsp;&nbsp;&nbsp; PROS Holdings, Inc. | (919800) |
| (37130) |  | &nbsp;&nbsp;&nbsp;&nbsp; Q2 Holdings, Inc. | (1214894) |
| (104900) |  | &nbsp;&nbsp;&nbsp;&nbsp; Rapid7, Inc. | (4182363) |
| (20711) |  | &nbsp;&nbsp;&nbsp;&nbsp; RingCentral, Inc. - Class A | (808350) |
| (166300) |  | &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. - Class A | (10649852) |
| (197950) |  | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc. | (31060334) |
| (169400) |  | &nbsp;&nbsp;&nbsp;&nbsp; SMART Global Holdings, Inc. | (2911986) |
| (160998) |  | &nbsp;&nbsp;&nbsp;&nbsp; Splunk, Inc. | (15418778) |
| (473975) |  | &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. | (48203257) |
| (6100) |  | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc. | (1968897) |
| (210000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Varonis Systems, Inc. | (5426400) |
| (68300) |  | &nbsp;&nbsp;&nbsp;&nbsp; Verint Systems, Inc. | (2593351) |
| (116000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Vishay Intertechnology, Inc. | (2655240) |
| (486500) |  | &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc. | (37465365) |
| (170700) |  | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc. - Class A | (14770671) |
| (120800) |  | &nbsp;&nbsp;&nbsp;&nbsp; Ziff Davis, Inc. | (10809184) |
| (110400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc. | (13707264) |
|  |  |  | (1083573270) |
|  |  | ***Materials (-0.4%)*** |  |
| (204000) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Asahi Holdings, Inc. | (3194038) |
| (607997) |  | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc. | (22125011) |
| (35000) |  | &nbsp;&nbsp;&nbsp;&nbsp; Lithium Americas Corp. | (883050) |
| (67200) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Maeda Kosen Company, Ltd. | (1729497) |
| (408100) | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. | (8449503) |
| (76961) | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Sika, AG | (21755878) |
|  |  |  | (58136977) |
|  |  | ***Real Estate (0.0%)*** |  |
| (605000) | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Link REIT | (4837747) |
| (63400) |  | &nbsp;&nbsp;&nbsp;&nbsp; Realogy Holdings Corp. | (537632) |
|  |  |  | (5375379) |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br> &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF <br>SHARES** | | **VALUE** | **VALUE** | |
|  | ***Utilities (-0.5%)*** |  |  |  |
| (168003) | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc. | $| (15785562) |  |
| (55300) | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Partners, LP |  | (4053490) |  |
| (485520) | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  | (36234358) |  |
| (950000) | &nbsp;&nbsp;&nbsp;&nbsp; PG&E Corp. |  | (15105000) |  |
| (369000) | &nbsp;&nbsp;&nbsp;&nbsp; Sunnova Energy International, Inc. |  | (7188120) |  |
|  |  |  | (78366530) |  |
|  | **TOTAL COMMON STOCKS SOLD SHORT**<br> (Proceeds $2,570,594,108) |  | (2655087763) |  |
| **TOTAL SECURITIES SOLD SHORT**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $2,570,594,108) | **TOTAL SECURITIES SOLD SHORT**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Proceeds $2,570,594,108) |  | (2655087763) |  |
| **NUMBER OF<br>CONTRACTS/**<br> **NOTIONAL<br>AMOUNT** |  | **VALUE** | **VALUE** |  |
| **WRITTEN OPTIONS (-2.9%) #** | **WRITTEN OPTIONS (-2.9%) #** |  |  |  |
|  | ***Communication Services (0.0%)*** | ***Communication Services (0.0%)*** | ***Communication Services (0.0%)*** | **** |
| 30 | Activision Blizzard, Inc. |  |  |  |
| 229710 | Call, 02/17/23, Strike $77.00 |  | (9150) |  |
|  | ***Consumer Discretionary (0.0%)*** | ***Consumer Discretionary (0.0%)*** | ***Consumer Discretionary (0.0%)*** | **** |
| 11000 | Carnival Corp. |  |  |  |
| 11902000 | Call, 06/21/24, Strike $10.00 |  | (3850000) |  |
| 200 | iRobot Corp. |  |  |  |
| 900000 | Call, 03/17/23, Strike $50.00 |  | (45500) |  |
| 810 | Tesla, Inc. |  |  |  |
| 14030820 | Call, 05/19/23, Strike $190.00 |  | (1437750) |  |
|  |  |  | (5333250) |  |
|  | ***Information Technology (0.0%)*** | ***Information Technology (0.0%)*** | ***Information Technology (0.0%)*** | **** |
| 100 | MicroStrategy, Inc. |  |  |  |
| 2517300 | Call, 06/16/23, Strike $300.00 |  | (229250) |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc. |  |  |  |
| 540 |  |  |  |  |
| 1918080 | Call, 02/24/23, Strike $42.00 |  | (87480) |  |
| 540 |  |  |  |  |
| 1918080 | Put, 02/24/23, Strike $28.00 |  | (52380) |  |
|  |  |  | (369110) |  |
|  | ***Other (-2.9%)*** |  |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index |  |  |  |
| 5750 |  |  |  |  |
| 2344045000 | Call, 02/28/23, Strike $3,925.00 |  | (108933750) |  |
| 4000 |  |  |  |  |
| 1630640000 | Call, 06/30/23, Strike $3,800.00 |  | (165860000) |  |
| 3000 |  |  |  |  |
| 1222980000 | Put, 03/31/23, Strike $3,200.00 |  | (1680000) |  |
| 2500 |  |  |  |  |
| 1019150000 | Call, 02/28/23, Strike $3,800.00 |  | (74587500) |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | **VALUE** |
| 2350 |  |  |
| 958001000 | Call, 09/29/23, Strike $4,300.00 | $(38175750) |
| 2000 |  |  |
| 815320000 | Call, 06/30/23, Strike $4,000.00 | (53120000) |
| 1500 |  |  |
| 611490000 | Put, 03/31/23, Strike $3,000.00 | (540000) |
|  |  | (442897000) |
|  | **TOTAL WRITTEN OPTIONS** |  |
|  | (Premium $318,905,943) | (448608510) |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** |
| **COUNTERPARTY** | **LONG**<br> **CONTRACTS** | **SETTLEMENT**<br> **DATE** | **LOCAL**<br> **CURRENCY** | **CURRENT**<br> **VALUE** | **UNREALIZED**<br> **GAIN/LOSS** |
| State Street Bank and Trust | European<br>Monetary<br>Unit | 04/18/23 | 17354000 | $18954655 | $46764 |
|  |  |  |  |  | $46764 |
| **COUNTERPARTY** | **SHORT<br>CONTRACTS** | **SETTLEMENT<br>DATE** | **LOCAL<br>CURRENCY** | **CURRENT**<br> **VALUE** | **UNREALIZED<br>GAIN/LOSS** |
| Northern Trust Company | Swiss<br>Franc | 04/18/23 | 2507000 | $2760461 | $(1720) |
| State Street Bank and Trust | British<br>Pound<br>Sterling | 04/18/23 | 12842000 | 15858077 | (167469) |
| State Street Bank and Trust | Japanese<br>Yen | 04/18/23 | 3109342000 | 24138070 | 504751 |
| Bank of New York | Swiss<br>Franc | 04/18/23 | 24233000 | 26682987 | (352185) |
| State Street Bank and Trust | European<br>Monetary<br>Unit | 04/18/23 | 120005000 | 131073723 | (513323) |
|  |  |  |  |  | $(529946) |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

---

| | |
|:---|:---|
| **~** | Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options and securities sold short. The aggregate value of such securities is $3,992,738,677.  |

---

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

---

| | |
|:---|:---|
| **§** | Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical.  |

---

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

**#** Non-income producing security. 

---

| | |
|:---|:---|
| **&** | Illiquid security.  |

---

**\*\*\*** The rate disclosed is the 7 day net yield as of January 31, 2023. 

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Market Neutral Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**FOREIGN CURRENCY ABBREVIATION** 

---

| | |
|:---|:---|
| **CAD** | Canadian Dollar |
| **CHF** | Swiss Franc |
| **EUR** | European Monetary Unit |
| **GBP** | British Pound Sterling |
| **HKD** | Hong Kong Dollar |
| **JPY** | Japanese Yen |

---

*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. For purchased options denominated in JPY, the strike price shown is a percentage of the par value of the underlying.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Hedged Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| **COMMON STOCKS (102.8%)** | **COMMON STOCKS (102.8%)** | **COMMON STOCKS (102.8%)** |  |
|  | ***Communication Services (8.0%)*** | ***Communication Services (8.0%)*** | **** |
| 15550 | &nbsp;&nbsp;&nbsp;&nbsp; Activision Blizzard, Inc.~ | $1190664 |  |
| 93897 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A~# | 9280779 |  |
| 105291 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class C~# | 10515412 |  |
| 94157 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.~ | 1917978 |  |
| 81273 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. - Class A | 3198093 |  |
| 15031 | &nbsp;&nbsp;&nbsp;&nbsp; Fox Corp. - Class A | 510152 |  |
| 17382 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc.# | 940714 |  |
| 40653 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A# | 6056077 |  |
| 7766 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.~# | 2748077 |  |
| 20605 | &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global - Class B | 477212 |  |
| 12431 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc.# | 1856073 |  |
| 77571 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc.~ | 3224626 |  |
| 37686 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company~# | 4088554 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;46004411 |  |
|  | ***Consumer Discretionary (10.7%)*** | ***Consumer Discretionary (10.7%)*** | **** |
| 166081 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.~# | 17127933 |  |
| 13298 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC# | 1503871 |  |
| 669 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.~# | 1628413 |  |
| 17605 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.# | 916516 |  |
| 83523 | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.#^ | 903719 |  |
| 803 | &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc. - Class A# | 1322043 |  |
| 5200 | &nbsp;&nbsp;&nbsp;&nbsp; Darden Restaurants, Inc. | 769444 |  |
| 36563 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp. - Class A#^ | 526142 |  |
| 4698 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp. | 1097453 |  |
| 16155 | &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc. | 1594337 |  |
| 14094 | &nbsp;&nbsp;&nbsp;&nbsp; eBay, Inc. | 697653 |  |
| 71733 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company | 969113 |  |
| 26931 | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Company | 1058927 |  |
| 19775 | &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc.~ | 6410462 |  |
| 16146 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc. | 3362404 |  |
| 14132 | &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp.~ | 3778897 |  |
| 18050 | &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | 747450 |  |
| 25280 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B~ | 3218902 |  |
| 38327 | &nbsp;&nbsp;&nbsp;&nbsp; Norwegian Cruise Line Holdings, Ltd.#^ | 582954 |  |
| 2126 | &nbsp;&nbsp;&nbsp;&nbsp; O'Reilly Automotive, Inc.# | 1684536 |  |
| 8962 | &nbsp;&nbsp;&nbsp;&nbsp; Ross Stores, Inc. | 1059219 |  |
| 21722 | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp.~ | 2370739 |  |
| 10011 | &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 1723294 |  |
| 16592 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# | 2874066 |  |
| 25042 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc.~ | 2049938 |  |
| 2755 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.# | 1415960 |  |
|  |  | 61394385 |  |
|  | ***Consumer Staples (7.2%)*** | ***Consumer Staples (7.2%)*** | **** |
| 34523 | &nbsp;&nbsp;&nbsp;&nbsp; Altria Group, Inc.~ | 1554916 |  |
| 15219 | &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Company | 1260894 |  |
| 9762 | &nbsp;&nbsp;&nbsp;&nbsp; Church & Dwight Company, Inc. | 789355 |  |
| 63128 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company~ | 3871009 |  |
| 14704 | &nbsp;&nbsp;&nbsp;&nbsp; Colgate-Palmolive Company | 1095889 |  |
| 6937 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. - Class A | 1606054 |  |
| 6002 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp.~ | 3067862 |  |
| 5318 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 1473512 |  |
| 16057 | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 1258227 |  |
| 12182 | &nbsp;&nbsp;&nbsp;&nbsp; Kellogg Company | 835442 |  |
| 9080 | &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp. | 1180491 |  |
| 20981 | &nbsp;&nbsp;&nbsp;&nbsp; Kraft Heinz Company | 850360 |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 21134 | &nbsp;&nbsp;&nbsp;&nbsp; Kroger Company | $943210 |
| 42413 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A~ | 2775507 |
| 9170 | &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.# | 954414 |
| 19362 | &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc.~ | 3311289 |
| 35443 | &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc.~ | 3694578 |
| 34807 | &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Company~ | 4955821 |
| 15816 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 1225107 |
| 29859 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc.~ | 4295814 |
|  |  | 40999751 |
|  | ***Energy (5.5%)*** |  |
| 39092 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp.~ | 6802790 |
| 26526 | &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips~ | 3232724 |
| 7480 | &nbsp;&nbsp;&nbsp;&nbsp; EOG Resources, Inc. | 989230 |
| 45500 | &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 5278455 |
| 17218 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 2585455 |
| 50322 | &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan, Inc. | 920893 |
| 30612 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 3934254 |
| 14945 | &nbsp;&nbsp;&nbsp;&nbsp; Occidental Petroleum Corp. | 968286 |
| 10088 | &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc. | 690826 |
| 7066 | &nbsp;&nbsp;&nbsp;&nbsp; Phillips 66 | 708508 |
| 10031 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 2310641 |
| 21288 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. | 1212990 |
| 7032 | &nbsp;&nbsp;&nbsp;&nbsp; Valero Energy Corp. | 984691 |
| 25397 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Companies, Inc. | 818799 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;31438542 |
|  | ***Financials (12.0%)*** |  |
| 10432 | &nbsp;&nbsp;&nbsp;&nbsp; Aflac, Inc.~ | 766752 |
| 8012 | &nbsp;&nbsp;&nbsp;&nbsp; Allstate Corp.~ | 1029302 |
| 17909 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company~ | 3132821 |
| 35662 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc.~ | 2254552 |
| 4906 | &nbsp;&nbsp;&nbsp;&nbsp; Ameriprise Financial, Inc. | 1717689 |
| 8933 | &nbsp;&nbsp;&nbsp;&nbsp; Arthur J Gallagher & Company | 1748367 |
| 7368 | &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc.~ | 976923 |
| 198101 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.~ | 7028623 |
| 18181 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 919413 |
| 27003 | &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. - Class B# | 8411975 |
| 1886 | &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Inc. | 1431870 |
| 8300 | &nbsp;&nbsp;&nbsp;&nbsp; Cboe Global Markets, Inc.~ | 1019904 |
| 34824 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 2696074 |
| 11093 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. | 2523547 |
| 26232 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.~ | 1369835 |
| 3924 | &nbsp;&nbsp;&nbsp;&nbsp; CME Group, Inc. | 693214 |
| 10654 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services | 1243641 |
| 10583 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.~ | 3871367 |
| 39361 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 597106 |
| 47920 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company~ | 6706883 |
| 4875 | &nbsp;&nbsp;&nbsp;&nbsp; M&T Bank Corp. | 760500 |
| 13857 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc.~ | 2423728 |
| 15110 | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. | 1103332 |
| 24559 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 2390327 |
| 7813 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Trust Corp. | 757627 |
| 5851 | &nbsp;&nbsp;&nbsp;&nbsp; Prudential Financial, Inc. | 614004 |
| 5075 | &nbsp;&nbsp;&nbsp;&nbsp; S&P Global, Inc.~ | 1902820 |
| 6885 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp. | 628807 |
| 6520 | &nbsp;&nbsp;&nbsp;&nbsp; Travelers Companies, Inc. | 1246102 |
| 12384 | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. | 611646 |
| 18036 | &nbsp;&nbsp;&nbsp;&nbsp; US Bancorp~ | 898193 |
| 92718 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~ | 4345693 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Hedged Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 23416 | &nbsp;&nbsp;&nbsp;&nbsp; Zions Bancorp NA | $1244795 |
|  |  | 69067432 |
|  | ***Health Care (15.5%)*** |  |
| 25888 | &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories~ | 2861918 |
| 32157 | &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc.~ | 4751197 |
| 16597 | &nbsp;&nbsp;&nbsp;&nbsp; Agilent Technologies, Inc.~ | 2524072 |
| 7282 | &nbsp;&nbsp;&nbsp;&nbsp; Amgen, Inc.~ | 1837977 |
| 18175 | &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc.~ | 830416 |
| 6079 | &nbsp;&nbsp;&nbsp;&nbsp; Becton Dickinson and Company | 1533245 |
| 3787 | &nbsp;&nbsp;&nbsp;&nbsp; Biogen, Inc.# | 1101638 |
| 53624 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.# | 2480110 |
| 51167 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company~ | 3717282 |
| 11827 | &nbsp;&nbsp;&nbsp;&nbsp; Centene Corp.# | 901690 |
| 5022 | &nbsp;&nbsp;&nbsp;&nbsp; Cigna Corp. | 1590317 |
| 22217 | &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp.~ | 1959984 |
| 14508 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.~ | 3835625 |
| 9444 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.# | 1011358 |
| 16921 | &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.~# | 1297841 |
| 17184 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company~ | 5913874 |
| 6230 | &nbsp;&nbsp;&nbsp;&nbsp; GE Healthcare, Inc.# | 433110 |
| 23667 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.~ | 1986608 |
| 4956 | &nbsp;&nbsp;&nbsp;&nbsp; HCA Healthcare, Inc. | 1264127 |
| 3201 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc.~ | 1637952 |
| 8480 | &nbsp;&nbsp;&nbsp;&nbsp; Intuitive Surgical, Inc.~# | 2083451 |
| 4795 | &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.# | 1100021 |
| 40941 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 6690578 |
| 4532 | &nbsp;&nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings | 1142608 |
| 4562 | &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp. | 1727538 |
| 25102 | &nbsp;&nbsp;&nbsp;&nbsp; Medtronic, PLC | 2100786 |
| 44019 | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc.~ | 4728081 |
| 4671 | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company | 140737 |
| 99259 | &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc.~ | 4383277 |
| 5662 | &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc. | 840694 |
| 1206 | &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc.# | 914715 |
| 8666 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.~ | 4942480 |
| 20924 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;10445052 |
| 7104 | &nbsp;&nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals, Inc.~# | 2295302 |
| 4399 | &nbsp;&nbsp;&nbsp;&nbsp; Zimmer Biomet Holdings, Inc. | 560169 |
| 5982 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 989961 |
|  |  | 88555791 |
|  | ***Industrials (8.7%)*** |  |
| 6968 | &nbsp;&nbsp;&nbsp;&nbsp; 3M Company | 801877 |
| 5272 | &nbsp;&nbsp;&nbsp;&nbsp; Allegion, PLC | 619724 |
| 6879 | &nbsp;&nbsp;&nbsp;&nbsp; Boeing Company~# | 1465227 |
| 27484 | &nbsp;&nbsp;&nbsp;&nbsp; Carrier Global Corp. | 1251347 |
| 13999 | &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar, Inc.~ | 3531808 |
| 74323 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.~ | 2298067 |
| 5053 | &nbsp;&nbsp;&nbsp;&nbsp; Deere & Company~ | 2136611 |
| 17378 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.~# | 679480 |
| 6934 | &nbsp;&nbsp;&nbsp;&nbsp; Eaton Corp., PLC | 1124764 |
| 19835 | &nbsp;&nbsp;&nbsp;&nbsp; Emerson Electric Company~ | 1789514 |
| 5144 | &nbsp;&nbsp;&nbsp;&nbsp; Generac Holdings, Inc.# | 620366 |
| 4386 | &nbsp;&nbsp;&nbsp;&nbsp; General Dynamics Corp. | 1022201 |
| 18692 | &nbsp;&nbsp;&nbsp;&nbsp; General Electric Company | 1504332 |
| 16801 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc.~ | 3502672 |
| 6249 | &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc. | 1475014 |
| 16122 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson Controls International, PLC | 1121608 |
| 6982 | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. | 1499873 |
| 3520 | &nbsp;&nbsp;&nbsp;&nbsp; Lockheed Martin Corp.~ | 1630675 |
| 14749 | &nbsp;&nbsp;&nbsp;&nbsp; Masco Corp. | 784647 |
| 4008 | &nbsp;&nbsp;&nbsp;&nbsp; Norfolk Southern Corp. | 985206 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| 3604 | &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp.~ | $1614736 |
| 6601 | &nbsp;&nbsp;&nbsp;&nbsp; Otis Worldwide Corp. | 542800 |
| 10316 | &nbsp;&nbsp;&nbsp;&nbsp; PACCAR, Inc. | 1127642 |
| 15871 | &nbsp;&nbsp;&nbsp;&nbsp; Pentair, PLC | 878936 |
| 35848 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp.~ | 3579423 |
| 31681 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company | 1133229 |
| 4420 | &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. | 1121840 |
| 957 | &nbsp;&nbsp;&nbsp;&nbsp; Teledyne Technologies, Inc.# | 406017 |
| 18544 | &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp.~ | 3786499 |
| 11827 | &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. - Class B~ | 2190715 |
| 5935 | &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc. - Class A | 1078924 |
| 11360 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc.~ | 1757733 |
| 8161 | &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc.~ | 848826 |
|  |  | 49912333 |
|  | ***Information Technology (26.9%)*** |  |
| 9929 | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A | 2770687 |
| 7260 | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.~# | 2688668 |
| 33131 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.~# | 2489795 |
| 15419 | &nbsp;&nbsp;&nbsp;&nbsp; Amphenol Corp. - Class A | 1229974 |
| 266447 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc.~ | 38445638 |
| 15029 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc.~ | 1675583 |
| 4292 | &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.# | 923467 |
| 10045 | &nbsp;&nbsp;&nbsp;&nbsp; Automatic Data Processing, Inc.~ | 2268261 |
| 7929 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc.~ | 4638544 |
| 94352 | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc.~ | 4592112 |
| 12038 | &nbsp;&nbsp;&nbsp;&nbsp; Cognizant Technology Solutions Corp. - Class A | 803537 |
| 2535 | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.# | 561198 |
| 11906 | &nbsp;&nbsp;&nbsp;&nbsp; Fiserv, Inc.~# | 1270132 |
| 4436 | &nbsp;&nbsp;&nbsp;&nbsp; Gartner, Inc.# | 1499989 |
| 6595 | &nbsp;&nbsp;&nbsp;&nbsp; Global Payments, Inc. | 743388 |
| 24749 | &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc. | 721186 |
| 51531 | &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp.~ | 1456266 |
| 12107 | &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp. | 1631176 |
| 4644 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc.~ | 1962880 |
| 4500 | &nbsp;&nbsp;&nbsp;&nbsp; Jack Henry & Associates, Inc. | 810405 |
| 15768 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A~ | 5843621 |
| 29334 | &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc.~ | 1768840 |
| 140309 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ | 34769973 |
| 2239 | &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 955068 |
| 6667 | &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc. | 441555 |
| 44773 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp.~ | 8747301 |
| 6643 | &nbsp;&nbsp;&nbsp;&nbsp; NXP Semiconductors, NV | 1224371 |
| 10388 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.# | 762999 |
| 25450 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp.~ | 2251307 |
| 9443 | &nbsp;&nbsp;&nbsp;&nbsp; Paychex, Inc. | 1094066 |
| 3388 | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.# | 1097509 |
| 12614 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.# | 1027915 |
| 8024 | &nbsp;&nbsp;&nbsp;&nbsp; Qorvo, Inc.# | 871888 |
| 21199 | &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc.~ | 2823919 |
| 20064 | &nbsp;&nbsp;&nbsp;&nbsp; salesforce, Inc.~# | 3370150 |
| 9468 | &nbsp;&nbsp;&nbsp;&nbsp; Skyworks Solutions, Inc. | 1038356 |
| 2239 | &nbsp;&nbsp;&nbsp;&nbsp; SolarEdge Technologies, Inc.# | 714532 |
| 6436 | &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity, Ltd. | 818337 |
| 9546 | &nbsp;&nbsp;&nbsp;&nbsp; Teradyne, Inc. | 970828 |
| 11804 | &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc.~ | 2091787 |
| 35776 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A~^ | 8235993 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;154103201 |
|  | ***Materials (3.0%)*** |  |
| 5826 | &nbsp;&nbsp;&nbsp;&nbsp; Air Products and Chemicals, Inc.~ | 1867291 |
| 4762 | &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp. | 902113 |
| 5993 | &nbsp;&nbsp;&nbsp;&nbsp; Celanese Corp. - Class A | 738338 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Hedged Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | **VALUE** | |
| 16608 | &nbsp;&nbsp;&nbsp;&nbsp; Corteva, Inc. | $| 1070386 |  |
| 16605 | &nbsp;&nbsp;&nbsp;&nbsp; Dow, Inc. |  | 985507 |  |
| 14926 | &nbsp;&nbsp;&nbsp;&nbsp; DuPont de Nemours, Inc. |  | 1103778 |  |
| 46810 | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 2088662 |  |
| 3703 | &nbsp;&nbsp;&nbsp;&nbsp; International Flavors & Fragrances, Inc. |  | 416439 |  |
| 13020 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 4308839 |  |
| 7380 | &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. |  | 961909 |  |
| 4265 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# |  | 1941129 |  |
| 4517 | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Company |  | 1068677 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;17453068 |  |
|  | ***Real Estate (2.5%)*** |  |  |  |
| 5075 | &nbsp;&nbsp;&nbsp;&nbsp; Alexandria Real Estate Equities, Inc. |  | 815756 |  |
| 6377 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. |  | 1424558 |  |
| 4665 | &nbsp;&nbsp;&nbsp;&nbsp; AvalonBay Communities, Inc. |  | 827758 |  |
| 6331 | &nbsp;&nbsp;&nbsp;&nbsp; Crown Castle, Inc. |  | 937684 |  |
| 7105 | &nbsp;&nbsp;&nbsp;&nbsp; Digital Realty Trust, Inc. |  | 814375 |  |
| 1168 | &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. |  | 862136 |  |
| 4517 | &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust |  | 503781 |  |
| 6072 | &nbsp;&nbsp;&nbsp;&nbsp; Mid-America Apartment Communities, Inc. |  | 1012324 |  |
| 18676 | &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. |  | 2414433 |  |
| 3342 | &nbsp;&nbsp;&nbsp;&nbsp; Public Storage |  | 1017104 |  |
| 11615 | &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. |  | 787845 |  |
| 9469 | &nbsp;&nbsp;&nbsp;&nbsp; Regency Centers Corp. |  | 630919 |  |
| 14702 | &nbsp;&nbsp;&nbsp;&nbsp; UDR, Inc. |  | 626158 |  |
| 11892 | &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc. |  | 892376 |  |
| 22134 | &nbsp;&nbsp;&nbsp;&nbsp; Weyerhaeuser Company |  | 762074 |  |
|  |  |  | 14329281 |  |
|  | ***Utilities (2.8%)*** |  |  |  |
| 36222 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.~ |  | 992845 |  |
| 14183 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.~ |  | 1332635 |  |
| 13194 | &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp. |  | 833729 |  |
| 11047 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc. |  | 1052890 |  |
| 3715 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Energy Corp. |  | 317112 |  |
| 13062 | &nbsp;&nbsp;&nbsp;&nbsp; Dominion Energy, Inc. |  | 831266 |  |
| 18062 | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp.~ |  | 1850452 |  |
| 7993 | &nbsp;&nbsp;&nbsp;&nbsp; Edison International |  | 550718 |  |
| 8087 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp. |  | 875660 |  |
| 11144 | &nbsp;&nbsp;&nbsp;&nbsp; Exelon Corp. |  | 470165 |  |
| 18296 | &nbsp;&nbsp;&nbsp;&nbsp; FirstEnergy Corp. |  | 749221 |  |
| 29054 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc.~ |  | 2168300 |  |
| 22354 | &nbsp;&nbsp;&nbsp;&nbsp; NiSource, Inc. |  | 620324 |  |
| 14047 | &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc. |  | 869931 |  |
| 20055 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company |  | 1357322 |  |
| 16099 | &nbsp;&nbsp;&nbsp;&nbsp; Xcel Energy, Inc. |  | 1107128 |  |
|  |  |  | 15979698 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (Cost $475,383,480) |  | 589237893 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  |  | **VALUE** | **VALUE** |  |
| **CONVERTIBLE BOND (0.9%)** | **CONVERTIBLE BOND (0.9%)** | **CONVERTIBLE BOND (0.9%)** | **CONVERTIBLE BOND (0.9%)** |  |
|  | ***Consumer Discretionary (0.9%)*** | ***Consumer Discretionary (0.9%)*** | ***Consumer Discretionary (0.9%)*** | **** |
| 616000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.<br> 2.000%, 05/15/24<br> (Cost $6,587,300) |  | 5153012 |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| **PURCHASED OPTIONS (0.4%) #** | **PURCHASED OPTIONS (0.4%) #** | **PURCHASED OPTIONS (0.4%) #** |
|  | ***Other (0.4%)*** |  |
| 600 | S&P 500 Index |  |
| 244596000 | Call, 03/31/23, Strike $4,500.00 | $309000 |
| 415 |  |  |
| 169178900 | Put, 02/28/23, Strike $3,650.00 | 246925 |
| 350 |  |  |
| 142681000 | Call, 02/28/23, Strike $4,300.00 | 243250 |
| 250 |  |  |
| 101915000 | Put, 02/28/23, Strike $3,900.00 | 680000 |
| 225 |  |  |
| 91723500 | Put, 03/31/23, Strike $3,700.00 | 604125 |
| 125 |  |  |
| 50957500 | Put, 03/31/23, Strike $3,500.00 | 166875 |
|  | **TOTAL PURCHASED OPTIONS**<br> (Cost $4,659,597) | &nbsp;&nbsp;&nbsp;&nbsp;2250175 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  |  | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (0.0%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (0.0%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (0.0%)** |
| 247320 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%†<br> (Cost $247,320) | 247320 |
| **TOTAL INVESTMENTS (104.1%)**<br> (Cost $486,877,697) | **TOTAL INVESTMENTS (104.1%)**<br> (Cost $486,877,697) | 596888400 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (0.0%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (0.0%) | (247320) |
| LIABILITIES, LESS OTHER ASSETS (-4.1%) | LIABILITIES, LESS OTHER ASSETS (-4.1%) | (23543535) |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $573097545 |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** |  | **VALUE** |
| **WRITTEN OPTIONS (-4.3%) #** | **WRITTEN OPTIONS (-4.3%) #** | **WRITTEN OPTIONS (-4.3%) #** |
|  | ***Consumer Discretionary (0.0%)*** | ***Consumer Discretionary (0.0%)*** |
| 70 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc. |  |
| 1212540 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 05/19/23, Strike $190.00 | (124250) |
|  | ***Other (-4.3%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index |  |
| 280 |  |  |
| 114144800 | Call, 02/28/23, Strike $3,925.00 | (5304600) |
| 280 |  |  |
| 114144800 | Call, 09/29/23, Strike $4,300.00 | (4548600) |
| 225 |  |  |
| 91723500 | Put, 03/31/23, Strike $3,200.00 | (126000) |
| 225 |  |  |
| 91723500 | Call, 06/30/23, Strike $4,000.00 | (5976000) |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Hedged Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/** <br> **NOTIONAL<br>AMOUNT** | | **VALUE** |
| 100 |  |  |
| 40766000 | Call, 02/28/23, Strike $3,800.00 | $(2983500) |
| 100 |  |  |
| 40766000 | Call, 06/30/23, Strike $3,800.00 | (4146500) |
| 75 |  |  |
| 30574500 | Call, 02/28/23, Strike $3,900.00 | (1581750) |
| 75 |  |  |
| 30574500 | Put, 03/31/23, Strike $3,000.00 | (27000) |
| 50 |  |  |
| 20383000 | Put, 02/28/23, Strike $3,600.00 | (23250) |
|  |  | (24717200) |
|  | **TOTAL WRITTEN OPTIONS**<br> (Premium $18,045,921) | (24841450) |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

---

| | |
|:---|:---|
| **~** | 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 $141,041,023. <br>

**#** Non-income producing security. 

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

*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 Phineus Long/Short Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | | **VALUE** | |
| **COMMON STOCKS (87.9%)** | **COMMON STOCKS (87.9%)** | **COMMON STOCKS (87.9%)** | **COMMON STOCKS (87.9%)** |  |
|  |  | ***Communication Services (4.8%)*** | ***Communication Services (4.8%)*** | **** |
| 452000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A#~ | $44675680 |  |
|  |  | ***Consumer Discretionary (14.2%)*** | ***Consumer Discretionary (14.2%)*** | **** |
| 485500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.#~ | 50069615 |  |
| 9500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.#~ | 23123950 |  |
| 492000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.#~ | 25613520 |  |
| 187000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Marriott International, Inc. - Class A~ | 32571660 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;131378745 |  |
|  |  | ***Consumer Staples (2.8%)*** | ***Consumer Staples (2.8%)*** | **** |
| 328500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp.~ | 25445610 |  |
|  |  | ***Financials (13.5%)*** | ***Financials (13.5%)*** | **** |
| 1190000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc.~ | 18052300 |  |
| 360000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley~ | 35038800 |  |
| 6700000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group, PLC | 25560879 |  |
| 160000 |  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.~ | 26468800 |  |
| 406500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~ | 19052655 |  |
|  |  |  | 124173434 |  |
|  |  | ***Health Care (5.5%)*** | ***Health Care (5.5%)*** | **** |
| 419000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.#~ | 19378750 |  |
| 29000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 7667020 |  |
| 46000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc.~ | 23538200 |  |
|  |  |  | 50583970 |  |
|  |  | ***Industrials (30.9%)*** | ***Industrials (30.9%)*** | **** |
| 425000 |  | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings, NV#~ | 26864250 |  |
| 845000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp. - Class A | 37999650 |  |
| 981000 |  | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.~ | 30332520 |  |
| 749300 |  | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.#~ | 29297630 |  |
| 121000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc.~ | 25226080 |  |
| 160500 |  | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc.~ | 34478610 |  |
| 270000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp.~ | 26959500 |  |
| 486000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company~ | 17384220 |  |
| 236500 |  | &nbsp;&nbsp;&nbsp;&nbsp; TransUnion~ | 16968875 |  |
| 559000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.#~ | 17289870 |  |
| 112000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp.~ | 22869280 |  |
|  |  |  | 285670485 |  |
|  |  | ***Information Technology (14.2%)*** | ***Information Technology (14.2%)*** | **** |
| 246000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.# | 18486900 |  |
| 106000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc.~ | 18175820 |  |
| 175000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ | 43366750 |  |
| 42500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.#~ | 13767450 |  |
| 162000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A~ | 37294020 |  |
|  |  |  | 131090940 |  |
|  |  | ***Materials (2.0%)*** | ***Materials (2.0%)*** | **** |
| 55000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC~ | 18201700 |  |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $744,774,748) | 811220564 |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br>CONTRACTS/<br>NOTIONAL<br> AMOUNT** | | **VALUE** |
| **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** |
|  | ***Airlines (0.3%)*** |  |
| 3540 | United Airlines Holdings, Inc. |  |
| 17331840 | Call, 02/17/23, Strike $41.00 | $2885100 |
|  | ***Communication Services (0.4%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |
| 4520 |  |  |
| 44675680 | Put, 02/03/23, Strike $95.00 | 603420 |
| 4400 |  |  |
| 43489600 | Call, 02/03/23, Strike $92.00 | 3212000 |
|  |  | 3815420 |
|  | ***Consumer Staples (0.0%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. |  |
| 3390 |  |  |
| 26258940 | Call, 02/03/23, Strike $80.00 | 50850 |
| 1130 |  |  |
| 8752980 | Put, 02/03/23, Strike $74.00 | 11300 |
|  |  | 62150 |
|  | ***Health Care (0.0%)*** |  |
| 460 | Humana, Inc. |  |
| 23538200 | Put, 02/17/23, Strike $480.00 | 172500 |
|  | ***Industrials (0.0%)*** |  |
| 1810 | Raytheon Technologies Corp. |  |
| 18072850 | Call, 02/17/23, Strike $100.00 | 355665 |
|  | ***Information Technology (0.2%)*** |  |
| 2765 | Advanced Micro Devices, Inc. |  |
| 20778975 | Put, 02/03/23, Strike $73.00 | 503230 |
| 2200 | Apple, Inc. |  |
| 31743800 | Put, 02/17/23, Strike $130.00 | 161700 |
| 3200 | Docusign, Inc. |  |
| 19404800 | Call, 02/03/23, Strike $58.00 | 1088000 |
|  |  | 1752930 |
|  | ***Other (0.7%)*** |  |
| 5150 | SPDR S&P 500 ETF Trust |  |
| 209337200 | Call, 02/03/23, Strike $395.00 | 6164550 |
|  | **TOTAL PURCHASED OPTIONS**<br> (Cost $8,271,236) | 15208315 |
| **TOTAL INVESTMENTS (89.5%)**<br> (Cost $753,045,984) | **TOTAL INVESTMENTS (89.5%)**<br> (Cost $753,045,984) | 826428879 |
| OTHER ASSETS, LESS LIABILITIES (10.5%) | OTHER ASSETS, LESS LIABILITIES (10.5%) | 96544254 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $922973133 |
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  |  | **VALUE** |
| **COMMON STOCKS SOLD SHORT (-8.0%) #** | **COMMON STOCKS SOLD SHORT (-8.0%) #** |  |
|  | ***Consumer Staples (-0.9%)*** |  |
| (15500) | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | (7922670) |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Phineus Long/Short Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | **VALUE** | |
|  | ***Health Care (-1.0%)*** |  |  |  |
| (12500) | &nbsp;&nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals, Inc. | $| (9480875) |  |
|  | ***Information Technology (-6.1%)*** |  |  |  |
| (107500) | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | (15511175) |  |
| (53000) | &nbsp;&nbsp;&nbsp;&nbsp; First Solar, Inc. |  | (9412800) |  |
| (47000) | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. |  | (23504700) |  |
| (171000) | &nbsp;&nbsp;&nbsp;&nbsp; STMicroelectronics, NV |  | (8074620) |  |
|  |  |  | (56503295) |  |
|  | **TOTAL COMMON STOCKS SOLD SHORT**<br> (Proceeds $66,284,558) |  | (73906840) |  |
| **EXCHANGE-TRADED FUND SOLD SHORT (-47.7%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-47.7%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-47.7%) #** | **EXCHANGE-TRADED FUND SOLD SHORT (-47.7%) #** |  |
|  | ***Other (-47.7%)*** |  |  |  |
| (1082000) | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust (Proceeds $421,683,922) |  | (439812360) |  |
| **TOTAL SECURITIES SOLD SHORT**<br> (Proceeds $487,968,480) | **TOTAL SECURITIES SOLD SHORT**<br> (Proceeds $487,968,480) |  | (513720200) |  |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  |  | **VALUE** | **VALUE** |  |
| **WRITTEN OPTIONS (-0.5%) #** | **WRITTEN OPTIONS (-0.5%) #** |  |  |  |
|  | ***Airlines (0.0%)*** |  |  |  |
| 2800 | United Airlines Holdings, Inc. |  |  |  |
| 13708800 | Put, 02/17/23, Strike $45.00 |  | (106400) |  |
|  | ***Communication Services (-0.1%)*** | ***Communication Services (-0.1%)*** | ***Communication Services (-0.1%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. |  |  |  |
| 920 |  |  |  |  |
| 9093280 | Call, 02/03/23, Strike $100.00 |  | (215740) |  |
| 920 |  |  |  |  |
| 9093280 | Put, 02/03/23, Strike $100.00 |  | (322000) |  |
|  |  |  | (537740) |  |
|  | ***Consumer Staples (0.0%)*** |  |  |  |
| 1130 | Sysco Corp. |  |  |  |
| 8752980 | Put, 02/03/23, Strike $78.00 |  | (127125) |  |
|  | ***Energy (0.0%)*** |  |  |  |
| 5100 | BP, PLC |  |  |  |
| 18477300 | Put, 02/10/23, Strike $36.00 |  | (331500) |  |
|  | ***Financials (0.0%)*** |  |  |  |
| 630 | First Republic Bank |  |  |  |
| 8875440 | Call, 02/17/23, Strike $140.00 |  | (299250) |  |
|  | ***Health Care (-0.1%)*** |  |  |  |
| 920 | Humana, Inc. |  |  |  |
| 47076400 | Put, 05/19/23, Strike $400.00 |  | (377200) |  |
|  | ***Industrials (0.0%)*** |  |  |  |
| 2365 | Transunion |  |  |  |
| 16968875 | Call, 02/17/23, Strike $75.00 |  | (301538) |  |
|  | ***Information Technology (-0.2%)*** |  |  |  |
| 2765 | Advanced Micro Devices, Inc. |  |  |  |
| 20778975 | Call, 02/17/23, Strike $83.00 |  | (362215) |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 455 | First Solar, Inc. |  |
| 8080800 | Call, 03/17/23, Strike $200.00 | $(217262) |
| 235 | Lam Research Corp. |  |
| 11752350 | Call, 02/03/23, Strike $475.00 | (630388) |
| 980 | STMicroelectronics, NV |  |
| 4627560 | Call, 02/17/23, Strike $46.00 | (227850) |
| 810 | Visa, Inc. |  |
| 18647010 | Call, 03/17/23, Strike $240.00 | (226800) |
|  |  | (1664515) |
|  | ***Other (-0.1%)*** |  |
| 2970 | SPDR S&P 500 ETF Trust |  |
| 120724560 | Put, 03/17/23, Strike $331.00 | (145530) |
| 3060 | SPDR S&P Metals & Mining ETF |  |
| 17478720 | Call, 02/17/23, Strike $59.00 | (321300) |
|  |  | (466830) |
|  | **TOTAL WRITTEN OPTIONS**<br> (Premium $4,292,076) | (4212098) |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** Non-income producing security. 

---

| | |
|:---|:---|
| **~** | Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for written options and securities sold short. The aggregate value of such securities is $455,080,473.  |

---

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **GBP** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;British Pound Sterling |

---

*Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. 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 Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | |
| **CONVERTIBLE BONDS (84.9%)** | **CONVERTIBLE BONDS (84.9%)** | **CONVERTIBLE BONDS (84.9%)** |  |
|  | ***Communication Services (7.1%)*** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp. |  |  |
| 12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/01/50\* | $13120500 |  |
| 10750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/23 | 14074115 |  |
| 11250000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp. / Liberty Formula One\*<br> 2.250%, 08/15/27 | 11833087 |  |
| 7750000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Finance Co. 3, Inc.\*^ 2.000%, 01/15/30 | 7620188 |  |
| 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; Perficient, Inc.<br> 0.125%, 11/15/26 | 6858650 |  |
| 20500000 | &nbsp;&nbsp;&nbsp;&nbsp; Snap, Inc.<br> 0.000%, 05/01/27 | 15142120 |  |
|  |  | 68648660 |  |
|  | ***Consumer Discretionary (13.8%)*** | ***Consumer Discretionary (13.8%)*** | **** |
| 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; Airbnb, Inc.<br> 0.000%, 03/15/26 | 4086615 |  |
| 6750000 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.<br> 0.750%, 05/01/25 | 9638393 |  |
| 15500000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.<br> 0.000%, 12/15/25 | 10298510 |  |
| 10750000 | &nbsp;&nbsp;&nbsp;&nbsp; DraftKings Holdings, Inc.<br> 0.000%, 03/15/28 | 7372780 |  |
| 16750000 | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.^<br> 0.125%, 09/01/27 | 17298227 |  |
| 20250000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 0.000%, 03/15/26 | 20616930 |  |
| 2695000 | &nbsp;&nbsp;&nbsp;&nbsp; Lucid Group, Inc.\*<br> 1.250%, 12/15/26 | 1739353 |  |
| 14750000 | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp.<br> 0.000%, 01/15/26 | 15939735 |  |
| 5250000 | &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd.\*<br> 6.000%, 08/15/25 | 8041110 |  |
| 7750000 | &nbsp;&nbsp;&nbsp;&nbsp; Shake Shack, Inc.<br> 0.000%, 03/01/28 | 5810795 |  |
| 17750000 | &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc.^<br> 0.000%, 01/01/26 | 16896225 |  |
| 13400000 | &nbsp;&nbsp;&nbsp;&nbsp; Wayfair, Inc.\*^<br> 3.250%, 09/15/27 | 16093266 |  |
|  |  | 133831939 |  |
|  | ***Consumer Staples (0.6%)*** |  |  |
| 5750000 | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.\*<br> 2.500%, 08/15/27 | 6274457 |  |
|  | ***Energy (3.2%)*** |  |  |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.<br> 1.750%, 05/01/26 | 6749640 |  |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\*<br> 3.625%, 04/15/29 | 5713850 |  |
| 7750000 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company<br> 0.250%, 05/15/25 | 18271167 |  |
|  |  | 30734657 |  |
|  | ***Financials (1.7%)*** |  |  |
| 10250000 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Finance, LLC<br> 1.000%, 11/23/27 | 10826562 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 7250000 | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Technologies, Inc.\*<br> 0.000%, 10/15/26 | $5484988 |
|  |  | 16311550 |
|  | ***Health Care (17.8%)*** |  |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\*<br> 1.000%, 09/15/27 | 5883900 |
| 7750000 | &nbsp;&nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.<br> 0.750%, 08/01/26 | 7516105 |
| 6969000 | &nbsp;&nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.^<br> 0.599%, 08/01/24 | 7699978 |
| 6000000 | &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp.\*<br> 2.250%, 06/15/27 | 5705760 |
| 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; CryoPort, Inc.\*<br> 0.750%, 12/01/26 | 5548760 |
| 25750000 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.^<br> 0.250%, 11/15/25 | 27146937 |
| 2772000 | &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp.<br> 2.375%, 06/01/25 | 5299149 |
| 10750000 | &nbsp;&nbsp;&nbsp;&nbsp; Exact Sciences Corp.^<br> 0.375%, 03/01/28 | 9635978 |
| 8250000 | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.\*^<br> 1.000%, 08/15/28 | 9215745 |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc.<br> 0.750%, 06/01/28 | 4894780 |
| 5750000 | &nbsp;&nbsp;&nbsp;&nbsp; Insulet Corp.<br> 0.375%, 09/01/26 | 7954493 |
| 13500000 | &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.<br> 0.500%, 08/15/25 | 13195710 |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.^<br> 0.000%, 04/01/26 | 5291990 |
| 12250000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd.<br> 2.000%, 06/15/26 | 14448263 |
| 4359000 | &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\*<br> 2.625%, 12/15/27 | 4678166 |
| 10000000 | &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc.<br> 0.250%, 01/15/28 | 6688700 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; NextGen Healthcare, Inc.\*<br> 3.750%, 11/15/27 | 5250200 |
| 5600000 | &nbsp;&nbsp;&nbsp;&nbsp; NuVasive, Inc.^<br> 0.375%, 03/15/25 | 5029920 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.<br> 0.750%, 08/01/25 | 4597500 |
| 2800000 | &nbsp;&nbsp;&nbsp;&nbsp; Repligen Corp.<br> 0.375%, 07/15/24 | 4746420 |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.\*<br> 1.250%, 09/15/27 | 6273080 |
| 6500000 | &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.\*<br> 1.500%, 05/01/25 | 5938660 |
|  |  | 172640194 |
|  | ***Industrials (5.1%)*** |  |
| 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Transport Services Group, Inc.~<br> 1.125%, 10/15/24 | 7424900 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\*<br> 0.500%, 12/15/27 | 5397650 |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp.^<br> 0.250%, 05/15/26 | 6948675 |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.^<br> 1.000%, 09/01/25 | 7189490 |
| 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; Parsons Corp.<br> 0.250%, 08/15/25 | 6841375 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company^<br> 1.250%, 05/01/25 | $9665120 |
| 6750000 | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.^<br> 0.000%, 12/15/25 | 5887350 |
|  |  | 49354560 |
|  | ***Information Technology (32.5%)*** |  |
| 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.<br> 0.125%, 05/01/25 | 10217915 |
| 11500000 | &nbsp;&nbsp;&nbsp;&nbsp; Bentley Systems, Inc.<br> 0.125%, 01/15/26 | 10683500 |
| 15750000 | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc.<br> 0.000%, 12/01/25 | 16542540 |
| 12000000 | &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc.<br> 0.500%, 05/15/23 | 13725720 |
| 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; Camtek Ltd.\*<br> 0.000%, 12/01/26 | 6829240 |
| 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; Confluent, Inc.<br> 0.000%, 01/15/27 | 6250320 |
| 5509000 | &nbsp;&nbsp;&nbsp;&nbsp; Coupa Software, Inc.<br> 0.125%, 06/15/25 | 5382789 |
| 8750000 | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.<br> 0.000%, 11/15/24 | 9643550 |
| 9750000 | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.<br> 0.125%, 06/15/25 | 10697115 |
| 8500000 | &nbsp;&nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc.<br> 0.000%, 12/01/26 | 6577980 |
| 11847000 | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.<br> 0.000%, 03/01/26 | 12500125 |
| 17750000 | &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc.^<br> 0.125%, 11/15/24 | 19714570 |
| 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; MongoDB, Inc.<br> 0.250%, 01/15/26 | 7671250 |
| 4750000 | &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc.<br> 0.375%, 06/15/26 | 4058400 |
| 17250000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.<br> 0.000%, 05/01/27 | 25875000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc. |  |
| 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 07/01/23~ | 17021530 |
| 6250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 06/01/25 | 10264500 |
| 11500000 | &nbsp;&nbsp;&nbsp;&nbsp; Repay Holdings Corp.\*<br> 0.000%, 02/01/26 | 9262100 |
| 21750000 | &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc.<br> 0.000%, 12/15/25 | 23289247 |
| 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.<br> 0.625%, 06/15/25 | 12385620 |
| 20000000 | &nbsp;&nbsp;&nbsp;&nbsp; Splunk, Inc.^<br> 1.125%, 06/15/27 | 17298000 |
| 13750000 | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.^<br> 0.250%, 03/15/26 | 13071025 |
| 17000000 | &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc.<br> 0.000%, 11/15/26 | 13143040 |
| 7500000 | &nbsp;&nbsp;&nbsp;&nbsp; Wix.com, Ltd.<br> 0.000%, 08/15/25 | 6462750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc.\* |  |
| 10250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 12/01/29 | 9955723 |
| 6704000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 02/15/28 | 6149244 |
| 9500000 | &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc.<br> 0.125%, 07/01/25 | 10395375 |
|  |  | 315068168 |
|  | ***Materials (2.6%)*** |  |
| 2125000 | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.<br> 3.500%, 06/15/25 | 5143754 |
| 4500000 | &nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines, Ltd.\*<br> 2.500%, 04/15/26 | 6236280 |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** |
| 6655000 | &nbsp;&nbsp;&nbsp;&nbsp; Lithium Americas Corp.<br> 1.750%, 01/15/27 | $| 5810946 |
| 8241000 | &nbsp;&nbsp;&nbsp;&nbsp; MP Materials Corp.\*<br> 0.250%, 04/01/26 |  | 8249736 |
|  |  |  | 25440716 |
|  | ***Real Estate (0.5%)*** |  |  |
| 5250000 | &nbsp;&nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust<br> 1.750%, 12/15/26 |  | 4767053 |
|  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $797,810,572) |  | 823071954 |
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  |  | **VALUE** | **VALUE** |
| **CONVERTIBLE PREFERRED STOCKS (11.9%)** | **CONVERTIBLE PREFERRED STOCKS (11.9%)** | **CONVERTIBLE PREFERRED STOCKS (11.9%)** | **CONVERTIBLE PREFERRED STOCKS (11.9%)** |
|  | ***Communication Services (1.5%)*** |  |  |
| 12500 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile Exchangeable Trust\*<br> 5.250%, 06/01/23 |  | 15067250 |
|  | ***Consumer Discretionary (1.1%)*** |  |  |
| 82155 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC~<br> 5.500%, 06/15/23 |  | 10350708 |
|  | ***Financials (2.1%)*** |  |  |
| 10300 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.~‡‡<br> 7.250% |  | 12815260 |
| 107870 | &nbsp;&nbsp;&nbsp;&nbsp; KKR & Company, Inc.<br> 6.000%, 09/15/23 |  | 7287697 |
|  |  |  | 20102957 |
|  | ***Health Care (2.0%)*** |  |  |
| 89600 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.^<br> 5.500%, 06/01/23 |  | 10226048 |
| 6775 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.<br> 5.000%, 04/15/23 |  | 9105600 |
|  |  |  | 19331648 |
|  | ***Utilities (5.2%)*** |  |  |
| 104840 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.<br> 6.875%, 02/15/24 |  | 10467226 |
| 191900 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.^<br> 6.125%, 08/15/23 |  | 9873255 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |
| 353990 | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23 |  | 16952581 |
| 187200 | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 |  | 8976240 |
| 86590 | &nbsp;&nbsp;&nbsp;&nbsp; 5.279%, 03/01/23 |  | 4328634 |
|  |  |  | 50597936 |
|  | **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $111,760,302) |  | 115450499 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | |
| **PURCHASED OPTION (0.1%) #** | **PURCHASED OPTION (0.1%) #** | **PURCHASED OPTION (0.1%) #** |  |
|  | ***Consumer Discretionary (0.1%)*** | ***Consumer Discretionary (0.1%)*** | **** |
| 37 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc. |  |  |
| 9006170 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $2,350.00<br> (Cost $917,122) | $966440 |  |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  | **VALUE** |  |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (7.6%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (7.6%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (7.6%)** |  |
| 36919992 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market Fund - Capital Class, 4.49%\*\*\*† | 36919992 |  |
| 37034088 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† | 37034088 |  |
|  | **TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED**<br> (Cost $73,954,080) | 73954080 |  |
| **TOTAL INVESTMENTS (104.5%)**<br> (Cost $984,442,076) | **TOTAL INVESTMENTS (104.5%)**<br> (Cost $984,442,076) | 1013442973 |  |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-7.6%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-7.6%) | (73954080) |  |
| OTHER ASSETS, LESS LIABILITIES (3.2%) | OTHER ASSETS, LESS LIABILITIES (3.2%) | 30733915 |  |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $970222808 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** | **FORWARD FOREIGN CURRENCY CONTRACTS** |
| **COUNTERPARTY** | **SHORT**<br> **CONTRACTS** | **SETTLEMENT**<br> **DATE** | **LOCAL**<br> **CURRENCY** | **CURRENT**<br> **VALUE** | **UNREALIZED**<br> **GAIN/LOSS** |
| State Street Bank and Trust | Canadian<br>Dollar | 04/18/23 | 665000 | $500101 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(1197) |
| State Street Bank and Trust | Canadian<br>Dollar | 04/18/23 | 5979000 | 4496395 | (38976) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$(40173) |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

---

| | |
|:---|:---|
| ~ | Security, or portion of security, is segregated as collateral (or collateral for potential future transactions) for #NOVALUE. The aggregate value of such securities is $0.  |

---

---

| | |
|:---|:---|
| **‡‡** | Perpetual maturity.  |

---

\*\*\* The rate disclosed is the 7 day net yield as of January 31, 2023.

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

*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 Global Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** | |
| **CONVERTIBLE BONDS (87.4%)** | **CONVERTIBLE BONDS (87.4%)** | **CONVERTIBLE BONDS (87.4%)** | **CONVERTIBLE BONDS (87.4%)** |  |
|  |  | ***Communication Services (11.0%)*** | ***Communication Services (11.0%)*** | **** |
| 1100000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; America Movil, BV<br> 0.000%, 03/02/24 | $1249416 |  |
| 863000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bharti Airtel, Ltd.\*<br> 1.500%, 02/17/25 | 1111907 |  |
| 600000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Cellnex Telecom, SA<br> 1.500%, 01/16/26 | 857494 |  |
| 50000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; CyberAgent, Inc.<br> 0.000%, 02/19/25 | 405558 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; iQIYI, Inc. |  |  |
| 1205000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/15/26 | 1054375 |  |
| 760000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 04/01/25 | 745742 |  |
| 710000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.<br> 1.375%, 10/15/23 | 929546 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Sea, Ltd.^ |  |  |
| 3546000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 09/15/26 | 2759639 |  |
| 1377000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 12/01/25 | 1465624 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Snap, Inc. |  |  |
| 1400000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 05/01/27 | 1034096 |  |
| 1181000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 08/01/26 | 1097905 |  |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Xiaomi Best Time International, Ltd.<br> 0.000%, 12/17/27 | 854830 |  |
| 808000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Zillow Group, Inc.<br> 1.375%, 09/01/26 | 962546 |  |
|  |  |  | 14528678 |  |
|  |  | ***Consumer Discretionary (18.8%)*** | ***Consumer Discretionary (18.8%)*** | **** |
| 607000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.<br> 0.750%, 05/01/25 | 866741 |  |
| 900000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Delivery Hero, SE<br> 0.250%, 01/23/24 | 929034 |  |
| 2719000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DraftKings Holdings, Inc. 03/15/28 | 1864799 |  |
| 772000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.<br> 0.125%, 10/01/26 | 1328805 |  |
| 1329000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Farfetch, Ltd.<br> 3.750%, 05/01/27 | 1171394 |  |
| 2000000 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; Flight Centre Travel Group, Ltd.<br> 1.625%, 11/01/28 | 1161546 |  |
| 1100000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Global Fashion Group, SA<br> 1.250%, 03/15/28 | 929175 |  |
| 600000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; HelloFresh, SE<br> 0.750%, 05/13/25 | 579821 |  |
| 1330000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lucid Group, Inc.\*<br> 1.250%, 12/15/26 | 858382 |  |
| 1458000 |  | &nbsp;&nbsp;&nbsp;&nbsp; MakeMyTrip, Ltd.<br> 0.000%, 02/15/28 | 1499451 |  |
| 703000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp.<br> 0.000%, 01/15/26 | 759704 |  |
| 2300000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Meituan<br> 0.000%, 04/27/28 | 1994629 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Ocado Group, PLC |  |  |
| 900000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 01/18/27 | 748324 |  |
| 800000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 0.875%, 12/09/25 | 771350 |  |
| 1197000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pinduoduo, Inc.<br> 0.000%, 12/01/25 | 1158205 |  |
| 889000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Royal Caribbean Cruises, Ltd.\*<br> 6.000%, 08/15/25 | 1361628 |  |
| 1000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Shop Apotheke Europe, NV<br> 0.000%, 01/21/28 | 847118 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** |
| 980000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Stride, Inc.<br> 1.125%, 09/01/27 | $1020631 |
| 91000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.<br> 2.000%, 05/15/24 | 761241 |
| 2043000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Vroom, Inc.<br> 0.750%, 07/01/26 | 718564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Wayfair, Inc. |  |
| 1486000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 3.250%, 09/15/27\* | 1784671 |
| 977000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 08/15/26 | 748079 |
| 1000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Zalando, SE<br> 0.050%, 08/06/25 | 986350 |
|  |  |  | 24849642 |
|  |  | ***Energy (2.5%)*** |  |
| 1341000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\*<br> 3.625%, 04/15/29 | 1532454 |
| 747000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company<br> 0.250%, 05/15/25 | 1761105 |
|  |  |  | 3293559 |
|  |  | ***Financials (5.0%)*** |  |
| 1312000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Coinbase Global, Inc.<br> 0.500%, 06/01/26 | 895046 |
| 2700000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Corestate Capital Holding, SA<br> 1.375%, 04/15/23 | 414318 |
| 1000000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Cornwall Jersey, Ltd.<br> 0.750%, 04/16/26 | 802302 |
| 600000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Bank NA<br> 0.000%, 02/18/24 | 682804 |
| 900000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase Financial Company, LLC§ 01/14/25 | 1001086 |
| 1299000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Finance, LLC<br> 1.000%, 11/23/27 | 1372069 |
| 1300000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Oliver Capital Sarl<br> 0.000%, 12/29/23 | 1521088 |
|  |  |  | 6688713 |
|  |  | ***Health Care (13.6%)*** |  |
| 761000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\*<br> 1.000%, 09/15/27 | 814118 |
| 725000 |  | &nbsp;&nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.^<br> 0.599%, 08/01/24 | 801045 |
| 650000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Coherus Biosciences, Inc.<br> 1.500%, 04/15/26 | 462475 |
| 841000 |  | &nbsp;&nbsp;&nbsp;&nbsp; CONMED Corp.\*<br> 2.250%, 06/15/27 | 799757 |
| 1140000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.^<br> 0.250%, 11/15/25 | 1201845 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc. |  |
| 785000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 08/15/28\* | 876892 |
| 622000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 03/01/27 | 587168 |
| 502000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Innoviva, Inc.<br> 2.500%, 08/15/25 | 502151 |
| 732000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Insmed, Inc.<br> 0.750%, 06/01/28 | 651451 |
| 788000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.<br> 0.500%, 08/15/25 | 770238 |
| 753000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.<br> 0.000%, 04/01/26 | 724522 |
| 1295000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd.<br> 2.000%, 06/15/26 | 1527388 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** | **VALUE** | |
| 415000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lantheus Holdings, Inc.\*<br> 2.625%, 12/15/27 | $| 445386 |  |
| 200000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Menicon Company, Ltd.<br> 0.000%, 01/29/25 |  | 1610479 |  |
| 941000 |  | &nbsp;&nbsp;&nbsp;&nbsp; NeoGenomics, Inc.<br> 0.250%, 01/15/28 |  | 629407 |  |
| 1411000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Oak Street Health, Inc. 03/15/26 |  | 1214829 |  |
| 600000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Omnicell, Inc.<br> 0.250%, 09/15/25 |  | 548430 |  |
| 620000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.<br> 0.750%, 08/01/25 |  | 570090 |  |
| 759000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.\*<br> 1.250%, 09/15/27 |  | 865685 |  |
| 130000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Ship Healthcare Holdings, Inc. 12/13/23 |  | 1045962 |  |
| 630000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tabula Rasa HealthCare, Inc.<br> 1.750%, 02/15/26 |  | 507604 |  |
| 910000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.\*<br> 1.500%, 05/01/25 |  | 831412 |  |
|  |  |  |  | 17988334 |  |
|  |  | ***Industrials (3.3%)*** |  |  |  |
| 600000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Duerr, AG<br> 0.750%, 01/15/26 |  | 766930 |  |
| 981000 |  | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp.<br> 0.250%, 05/15/26 |  | 908887 |  |
| 652000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.<br> 1.000%, 09/01/25 |  | 852281 |  |
| 573000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company<br> 1.250%, 05/01/25 |  | 692264 |  |
| 1674000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Sunrun, Inc.<br> 0.000%, 02/01/26 |  | 1192457 |  |
|  |  |  |  | 4412819 |  |
|  |  | ***Information Technology (29.7%)*** | ***Information Technology (29.7%)*** | ***Information Technology (29.7%)*** | **** |
| 888000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Affirm Holdings, Inc.<br> 0.000%, 11/15/26 |  | 563338 |  |
| 610000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.<br> 0.125%, 05/01/25 |  | 656098 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc. |  |  |  |
| 691000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 04/01/27^ |  | 559565 |  |
| 625000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 12/01/25 |  | 656450 |  |
| 873000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Block, Inc.<br> 0.125%, 03/01/25 |  | 892232 |  |
| 920000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Confluent, Inc. 01/15/27 |  | 718787 |  |
| 973000 |  | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd. 11/15/24 |  | 1072363 |  |
| 496000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.<br> 0.125%, 06/15/25 |  | 544181 |  |
| 2203000 |  | &nbsp;&nbsp;&nbsp;&nbsp; DigitalOcean Holdings, Inc.<br> 0.000%, 12/01/26 |  | 1704858 |  |
| 1374000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Dropbox, Inc.<br> 0.000%, 03/01/28 |  | 1247990 |  |
| 1777000 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Dye & Durham, Ltd.\*<br> 3.750%, 03/01/26 |  | 1063422 |  |
| 2744000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Fastly, Inc.<br> 0.000%, 03/15/26 |  | 2138866 |  |
| 1676000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Five9, Inc.<br> 0.500%, 06/01/25 |  | 1587591 |  |
| 1163000 |  | &nbsp;&nbsp;&nbsp;&nbsp; LivePerson, Inc.<br> 0.000%, 12/15/26 |  | 867365 |  |
| 1161000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lumentum Holdings, Inc.<br> 0.500%, 12/15/26 |  | 1060875 |  |
| 1967000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc.^<br> 0.125%, 11/15/24 |  | 2184708 |  |
| 2264000 |  | &nbsp;&nbsp;&nbsp;&nbsp; MicroStrategy, Inc.<br> 0.000%, 02/15/27 |  | 1016604 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | | **VALUE** | **VALUE** |
| 2783000 |  | &nbsp;&nbsp;&nbsp;&nbsp; NCL Corp. Ltd.<br> 1.125%, 02/15/27 | $| 2131110 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Nexi S.p.A |  |  |
| 1500000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 02/24/28 |  | 1216326 |
| 1400000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 04/24/27 |  | 1328365 |
| 569000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Nice, Ltd.^<br> 0.000%, 09/15/25 |  | 544988 |
| 2023000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Okta, Inc.<br> 0.125%, 09/01/25 |  | 1789586 |
| 1506000 |  | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.<br> 0.000%, 05/01/27 |  | 2259000 |
| 770000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.<br> 0.375%, 06/01/25 |  | 1264586 |
| 729000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pegasystems, Inc.<br> 0.750%, 03/01/25 |  | 637693 |
| 190000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; SCREEN Holdings Company, Ltd.<br> 0.000%, 06/11/25 |  | 1557631 |
| 929000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc.<br> 0.000%, 12/15/25 |  | 994745 |
| 492000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.<br> 0.625%, 06/15/25 |  | 677081 |
| 708200 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; SOITEC<br> 0.000%, 10/01/25 |  | 1398159 |
| 1080000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Splunk, Inc.<br> 1.125%, 09/15/25 |  | 1066144 |
| 796000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.<br> 0.250%, 03/15/26 |  | 756694 |
| 992000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Unity Software, Inc.<br> 0.000%, 11/15/26 |  | 766935 |
| 596000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.<br> 1.125%, 08/15/26 |  | 752623 |
| 1335000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Xero Investments, Ltd.<br> 0.000%, 12/02/25 |  | 1105500 |
| 490000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc.<br> 0.125%, 07/01/25 |  | 536182 |
|  |  |  |  | 39318641 |
|  |  | ***Materials (1.4%)*** |  |  |
| 1448000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Amyris, Inc.<br> 1.500%, 11/15/26 |  | 457568 |
| 1675000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Lithium Americas Corp.<br> 1.750%, 01/15/27 |  | 1462560 |
|  |  |  |  | 1920128 |
|  |  | ***Real Estate (2.1%)*** |  |  |
| 400000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd.<br> 0.000%, 02/05/25 |  | 552042 |
| 2135000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Redfin Corp.<br> 0.000%, 10/15/25 |  | 1405129 |
| 1000000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Vingroup, JSC<br> 3.000%, 04/20/26 |  | 780910 |
|  |  |  |  | 2738081 |
|  |  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $132,180,225) |  | 115738595 |
| **U.S. GOVERNMENT AND AGENCY SECURITY (0.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITY (0.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITY (0.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITY (0.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITY (0.7%)** |
|  |  | ***Other (0.7%)*** |  |  |
| 1016000 |  | United States Treasury Note<br> 2.250%, 03/31/24<br> (Cost $1,013,096) |  | 988239 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** | |
| **CONVERTIBLE PREFERRED STOCKS (8.2%)** | **CONVERTIBLE PREFERRED STOCKS (8.2%)** | **CONVERTIBLE PREFERRED STOCKS (8.2%)** | **CONVERTIBLE PREFERRED STOCKS (8.2%)** |  |
|  |  | ***Communication Services (0.5%)*** | ***Communication Services (0.5%)*** | **** |
| 485 |  | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile Exchangeable Trust\*<br> 5.250%, 06/01/23 | $584610 |  |
|  |  | ***Financials (3.8%)*** |  |  |
| 1687 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.‡‡<br> 7.250% | 2098965 |  |
| 14328 |  | &nbsp;&nbsp;&nbsp;&nbsp; KKR & Company, Inc.<br> 6.000%, 09/15/23 | 968000 |  |
| 1580 |  | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company‡‡<br> 7.500% | 1987624 |  |
|  |  |  | 5054589 |  |
|  |  | ***Health Care (0.7%)*** |  |  |
| 674 |  | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.<br> 5.000%, 04/15/23 | 905856 |  |
|  |  | ***Utilities (3.2%)*** |  |  |
| 16963 |  | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.<br> 6.875%, 02/15/24 | 1693586 |  |
| 12820 |  | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.^<br> 6.125%, 08/15/23 | 659589 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |
| 24300 |  | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23 | 1163726 |  |
| 15361 |  | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 | 736560 |  |
|  |  |  | 4253461 |  |
|  |  | **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $10,776,831) | 10798516 |  |
| **NUMBER OF<br>CONTRACTS/<br>NOTIONAL<br> AMOUNT** |  |  | **VALUE** |  |
| **PURCHASED OPTION (0.1%)** | **PURCHASED OPTION (0.1%)** | **PURCHASED OPTION (0.1%)** | **PURCHASED OPTION (0.1%)** |  |
|  |  | ***Industrials (0.1%)*** |  |  |
| 218 | EUR | Schneider Electric, SE |  |  |
| 3252815 |  | Call, 06/16/23, Strike 150.00<br> (Cost $184,159) | 194339 |  |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  |  | **VALUE** |  |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.3%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.3%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.3%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.3%)** |  |
| 4393941 |  | State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† | 4393941 |  |
| **TOTAL INVESTMENTS (99.7%)**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $148,548,252) | **TOTAL INVESTMENTS (99.7%)**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $148,548,252) | **TOTAL INVESTMENTS (99.7%)**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $148,548,252) | 132113630 |  |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.3%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.3%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.3%) | (4393941) |  |

---

---

| | |
|:---|:---|
|  OTHER ASSETS, LESS LIABILITIES (3.6%) | 4711068 |
|  **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132430757 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

---

| | |
|:---|:---|
| **§** | Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical.  |

---

---

| | |
|:---|:---|
| **‡‡** | Perpetual maturity.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **AUD** | Australian Dollar  |

---

---

| | |
|:---|:---|
| **CAD** | Canadian Dollar  |

---

---

| | |
|:---|:---|
| **EUR** | European Monetary Unit  |

---

---

| | |
|:---|:---|
| **GBP** | British Pound Sterling  |

---

---

| | |
|:---|:---|
| **JPY** | Japanese Yen  |

---

*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.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Convertible Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**CURRENCY EXPOSURE JANUARY 31, 2023** 

---

| | | |
|:---|:---|:---|
| | **Value** | **% of Total**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investments** |
|  US Dollar | $107493191 | 81.4% |
|  European Monetary Unit | 15453865 | 11.7% |
|  Japanese Yen | 4619630 | 3.5% |
|  British Pound Sterling | 2321976 | 1.7% |
|  Australian Dollar | 1161546 | 0.9% |
|  Canadian Dollar | 1063422 | 0.8% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132113630 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Timpani Small Cap Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| **COMMON STOCKS (99.4%)** | **COMMON STOCKS (99.4%)** | **COMMON STOCKS (99.4%)** |
|  | ***Communication Services (1.8%)*** |  |
| 171150 | &nbsp;&nbsp;&nbsp;&nbsp; Perion Network, Ltd.# | $5733525 |
|  | ***Consumer Discretionary (14.3%)*** |  |
| 180502 | &nbsp;&nbsp;&nbsp;&nbsp; Arhaus, Inc.# | 2554103 |
| 41804 | &nbsp;&nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.# | 3490216 |
| 51593 | &nbsp;&nbsp;&nbsp;&nbsp; Crocs, Inc.# | 6282480 |
| 139848 | &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.# | 2265538 |
| 10675 | &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp.# | 1260611 |
| 154598 | &nbsp;&nbsp;&nbsp;&nbsp; Genius Sports, Ltd.# | 848743 |
| 30745 | &nbsp;&nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.# | 3583637 |
| 55021 | &nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder, Inc.# | 3590120 |
| 173143 | &nbsp;&nbsp;&nbsp;&nbsp; On Holding, AG - Class A# | 4016917 |
| 41560 | &nbsp;&nbsp;&nbsp;&nbsp; Portillo's, Inc. - Class A# | 937594 |
| 221981 | &nbsp;&nbsp;&nbsp;&nbsp; PowerSchool Holdings, Inc. - Class A# | 4999012 |
| 110732 | &nbsp;&nbsp;&nbsp;&nbsp; Sportradar Holding, AG - Class A# | 1389687 |
| 24079 | &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc. | 3815799 |
| 210996 | &nbsp;&nbsp;&nbsp;&nbsp; Xponential Fitness, Inc. - Class A# | 5798170 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;44832627 |
|  | ***Consumer Staples (9.9%)*** |  |
| 133794 | &nbsp;&nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.# | 13422214 |
| 75570 | &nbsp;&nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc.# | 2889041 |
| 158919 | &nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc.# | 9145788 |
| 19588 | &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.# | 1240508 |
| 13062 | &nbsp;&nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | 1274068 |
| 393129 | &nbsp;&nbsp;&nbsp;&nbsp; SunOpta, Inc.# | 3211864 |
|  |  | 31183483 |
|  | ***Energy (6.8%)*** |  |
| 34983 | &nbsp;&nbsp;&nbsp;&nbsp; Chord Energy Corp. | 5014113 |
| 109546 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 1734113 |
| 133875 | &nbsp;&nbsp;&nbsp;&nbsp; Matador Resources Company | 8857170 |
| 106723 | &nbsp;&nbsp;&nbsp;&nbsp; NexTier Oilfield Solutions, Inc.# | 1005331 |
| 82984 | &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International, PLC# | 4720130 |
|  |  | 21330857 |
|  | ***Financials (1.4%)*** |  |
| 13298 | &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 3702695 |
| 36062 | &nbsp;&nbsp;&nbsp;&nbsp; Skyward Specialty Insurance Group, Inc.# | 667508 |
|  |  | 4370203 |
|  | ***Health Care (22.1%)*** |  |
| 528408 | &nbsp;&nbsp;&nbsp;&nbsp; Alphatec Holdings, Inc.# | 6879872 |
| 36713 | &nbsp;&nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.# | 1935876 |
| 84745 | &nbsp;&nbsp;&nbsp;&nbsp; Axonics, Inc.# | 5203343 |
| 35812 | &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.# | 1005601 |
| 42580 | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.# | 2204367 |
| 24215 | &nbsp;&nbsp;&nbsp;&nbsp; Inmode, Ltd.# | 848736 |
| 25745 | &nbsp;&nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.# | 6515030 |
| 75229 | &nbsp;&nbsp;&nbsp;&nbsp; iRadimed Corp. | 2813565 |
| 6836 | &nbsp;&nbsp;&nbsp;&nbsp; Karuna Therapeutics, Inc.# | 1363030 |
| 29251 | &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.# | 2431343 |
| 37335 | &nbsp;&nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.# | 2602249 |
| 274276 | &nbsp;&nbsp;&nbsp;&nbsp; Paragon 28, Inc.# | 4621551 |
| 20882 | &nbsp;&nbsp;&nbsp;&nbsp; Penumbra, Inc.# | 5229062 |
| 71337 | &nbsp;&nbsp;&nbsp;&nbsp; Phreesia, Inc.# | 2674424 |
| 48362 | &nbsp;&nbsp;&nbsp;&nbsp; Revance Therapeutics, Inc.# | 1677194 |
| 49926 | &nbsp;&nbsp;&nbsp;&nbsp; Silk Road Medical, Inc.# | 2713977 |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| 114594 | &nbsp;&nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc.# | $3288848 |  |
| 61387 | &nbsp;&nbsp;&nbsp;&nbsp; Tela Bio, Inc.# | 710861 |  |
| 71250 | &nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc.# | 4490175 |  |
| 365978 | &nbsp;&nbsp;&nbsp;&nbsp; Treace Medical Concepts, Inc.# | 8450432 |  |
| 16223 | &nbsp;&nbsp;&nbsp;&nbsp; UFP Technologies, Inc.# | 1845042 |  |
|  |  | 69504578 |  |
|  | ***Industrials (14.4%)*** |  |  |
| 42138 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | 6034583 |  |
| 76182 | &nbsp;&nbsp;&nbsp;&nbsp; Array Technologies, Inc.# | 1693526 |  |
| 35982 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.# | 7032322 |  |
| 93561 | &nbsp;&nbsp;&nbsp;&nbsp; CBIZ, Inc.# | 4452568 |  |
| 173591 | &nbsp;&nbsp;&nbsp;&nbsp; CECO Environmental Corp.# | 2497974 |  |
| 5775 | &nbsp;&nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 957495 |  |
| 237830 | &nbsp;&nbsp;&nbsp;&nbsp; Leonardo DRS, Inc.# | 3175030 |  |
| 29425 | &nbsp;&nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc.# | 1593658 |  |
| 35982 | &nbsp;&nbsp;&nbsp;&nbsp; NV5 Global, Inc.# | 4796041 |  |
| 33500 | &nbsp;&nbsp;&nbsp;&nbsp; Shyft Group, Inc. | 1115215 |  |
| 82620 | &nbsp;&nbsp;&nbsp;&nbsp; Symbotic, Inc.# | 1293003 |  |
| 308162 | &nbsp;&nbsp;&nbsp;&nbsp; Tecnoglass, Inc. | 10551467 |  |
|  |  | 45192882 |  |
|  | ***Information Technology (28.7%)*** |  |  |
| 13102 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 1215079 |  |
| 67679 | &nbsp;&nbsp;&nbsp;&nbsp; Aehr Test Systems# | 2366058 |  |
| 17055 | &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.# | 1425116 |  |
| 66227 | &nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.# | 2527885 |  |
| 14454 | &nbsp;&nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.# | 1589217 |  |
| 170836 | &nbsp;&nbsp;&nbsp;&nbsp; Bel Fuse, Inc. - Class B | 6737772 |  |
| 111502 | &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc. - Class A# | 3566949 |  |
| 28914 | &nbsp;&nbsp;&nbsp;&nbsp; Calix, Inc.# | 1522033 |  |
| 100329 | &nbsp;&nbsp;&nbsp;&nbsp; Digi International, Inc.# | 3410183 |  |
| 39920 | &nbsp;&nbsp;&nbsp;&nbsp; Diodes, Inc.# | 3560465 |  |
| 22889 | &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.# | 3904863 |  |
| 298124 | &nbsp;&nbsp;&nbsp;&nbsp; Extreme Networks, Inc.# | 5375176 |  |
| 484388 | &nbsp;&nbsp;&nbsp;&nbsp; Harmonic, Inc.# | 6379390 |  |
| 93134 | &nbsp;&nbsp;&nbsp;&nbsp; IBEX Holdings, Ltd.# | 2485746 |  |
| 22441 | &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc.# | 2912393 |  |
| 241333 | &nbsp;&nbsp;&nbsp;&nbsp; indie Semiconductor, Inc.# | 1923424 |  |
| 42707 | &nbsp;&nbsp;&nbsp;&nbsp; Intapp, Inc.# | 1237649 |  |
| 277825 | &nbsp;&nbsp;&nbsp;&nbsp; International Money Express, Inc.# | 6323297 |  |
| 12792 | &nbsp;&nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.# | 969506 |  |
| 222784 | &nbsp;&nbsp;&nbsp;&nbsp; Napco Security Technologies, Inc.# | 6454052 |  |
| 48974 | &nbsp;&nbsp;&nbsp;&nbsp; Privia Health Group, Inc.# | 1324257 |  |
| 105464 | &nbsp;&nbsp;&nbsp;&nbsp; Richardson Electronics Ltd. | 2357120 |  |
| 142637 | &nbsp;&nbsp;&nbsp;&nbsp; ShotSpotter, Inc.# | 5498656 |  |
| 9242 | &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp.# | 1064956 |  |
| 82098 | &nbsp;&nbsp;&nbsp;&nbsp; Smartsheet, Inc. - Class A# | 3547455 |  |
| 25779 | &nbsp;&nbsp;&nbsp;&nbsp; Sprout Social, Inc. - Class A# | 1649083 |  |
| 19181 | &nbsp;&nbsp;&nbsp;&nbsp; SPS Commerce, Inc.# | 2610150 |  |
| 34270 | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.# | 2965383 |  |
| 344795 | &nbsp;&nbsp;&nbsp;&nbsp; Zeta Global Holdings Corp. - Class A# | 3130739 |  |
|  |  | 90034052 |  |
|  | **TOTAL COMMON STOCKS****<br> (Cost $262,931,134) | &nbsp;&nbsp;&nbsp;&nbsp;312182207 | **** |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Timpani Small Cap Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | |
|:---|:---|
| **TOTAL INVESTMENTS (99.4%)**<br> (Cost $262,931,134) | $&nbsp;&nbsp;&nbsp;&nbsp;312182207 |
|  OTHER ASSETS, LESS LIABILITIES (0.6%) | 1817321 |
|  **NET ASSETS (100.0%)** | $313999528 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** Non-income producing security. 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Timpani SMID Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| **COMMON STOCKS (99.7%)** | **COMMON STOCKS (99.7%)** | **COMMON STOCKS (99.7%)** |
|  | ***Communication Services (2.2%)*** |  |
| 8981 | &nbsp;&nbsp;&nbsp;&nbsp; Perion Network, Ltd.# | $300864 |
| 955 | &nbsp;&nbsp;&nbsp;&nbsp; World Wrestling Entertainment, Inc. - Class A | 80812 |
|  |  | 381676 |
|  | ***Consumer Discretionary (21.4%)*** |  |
| 8006 | &nbsp;&nbsp;&nbsp;&nbsp; Arhaus, Inc.# | 113285 |
| 1841 | &nbsp;&nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.# | 153705 |
| 353 | &nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 87579 |
| 2587 | &nbsp;&nbsp;&nbsp;&nbsp; Crocs, Inc.# | 315019 |
| 1324 | &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.# | 565984 |
| 2757 | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.# | 379308 |
| 5332 | &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.# | 86378 |
| 1734 | &nbsp;&nbsp;&nbsp;&nbsp; Five Below, Inc.# | 341823 |
| 992 | &nbsp;&nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc. - Class A# | 90044 |
| 369 | &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp. | 43575 |
| 6828 | &nbsp;&nbsp;&nbsp;&nbsp; Genius Sports, Ltd.# | 37486 |
| 2139 | &nbsp;&nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.# | 249322 |
| 3020 | &nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder, Inc.# | 197055 |
| 7956 | &nbsp;&nbsp;&nbsp;&nbsp; On Holding, AG - Class A# | 184579 |
| 1231 | &nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness, Inc. - Class A# | 104204 |
| 1826 | &nbsp;&nbsp;&nbsp;&nbsp; Portillo's, Inc. - Class A# | 41195 |
| 10706 | &nbsp;&nbsp;&nbsp;&nbsp; PowerSchool Holdings, Inc. - Class A# | 241099 |
| 4050 | &nbsp;&nbsp;&nbsp;&nbsp; Sportradar Holding, AG - Class A# | 50828 |
| 1107 | &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc. | 175426 |
| 9187 | &nbsp;&nbsp;&nbsp;&nbsp; Xponential Fitness, Inc. - Class A# | 252459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3710353 |
|  | ***Consumer Staples (9.1%)*** |  |
| 7019 | &nbsp;&nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.# | 704146 |
| 3234 | &nbsp;&nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc.# | 123636 |
| 8043 | &nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc.# | 462874 |
| 1349 | &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.# | 85432 |
| 542 | &nbsp;&nbsp;&nbsp;&nbsp; MGP Ingredients, Inc. | 52867 |
| 18518 | &nbsp;&nbsp;&nbsp;&nbsp; SunOpta, Inc.# | 151292 |
|  |  | 1580247 |
|  | ***Energy (6.6%)*** |  |
| 1755 | &nbsp;&nbsp;&nbsp;&nbsp; Chord Energy Corp. | 251544 |
| 523 | &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 76421 |
| 5995 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 94901 |
| 6715 | &nbsp;&nbsp;&nbsp;&nbsp; Matador Resources Company | 444264 |
| 4895 | &nbsp;&nbsp;&nbsp;&nbsp; NexTier Oilfield Solutions, Inc.# | 46111 |
| 4061 | &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International, PLC# | 230990 |
|  |  | 1144231 |
|  | ***Financials (1.7%)*** |  |
| 207 | &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 87549 |
| 614 | &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 170962 |
| 1973 | &nbsp;&nbsp;&nbsp;&nbsp; Skyward Specialty Insurance Group, Inc. | 36520 |
|  |  | 295031 |
|  | ***Health Care (19.1%)*** |  |
| 1523 | &nbsp;&nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.# | 80308 |
| 4262 | &nbsp;&nbsp;&nbsp;&nbsp; Axonics, Inc.# | 261687 |
| 1962 | &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.# | 55093 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 1390 | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.# | $71960 |
| 1335 | &nbsp;&nbsp;&nbsp;&nbsp; Inmode, Ltd.# | 46792 |
| 1251 | &nbsp;&nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.# | 316578 |
| 1293 | &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.# | 51552 |
| 251 | &nbsp;&nbsp;&nbsp;&nbsp; Karuna Therapeutics, Inc.# | 50047 |
| 1413 | &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.# | 117448 |
| 2061 | &nbsp;&nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.# | 143652 |
| 2554 | &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.# | 283315 |
| 8902 | &nbsp;&nbsp;&nbsp;&nbsp; Paragon 28, Inc.# | 149999 |
| 1466 | &nbsp;&nbsp;&nbsp;&nbsp; Penumbra, Inc.# | 367101 |
| 3411 | &nbsp;&nbsp;&nbsp;&nbsp; Phreesia, Inc.# | 127878 |
| 1779 | &nbsp;&nbsp;&nbsp;&nbsp; Revance Therapeutics, Inc.# | 61696 |
| 2624 | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.# | 327921 |
| 2056 | &nbsp;&nbsp;&nbsp;&nbsp; Silk Road Medical, Inc.# | 111764 |
| 6048 | &nbsp;&nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc.# | 173577 |
| 3003 | &nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc.# | 189249 |
| 8007 | &nbsp;&nbsp;&nbsp;&nbsp; Treace Medical Concepts, Inc.# | 184882 |
| 533 | &nbsp;&nbsp;&nbsp;&nbsp; United Therapeutics Corp.# | 140270 |
|  |  | 3312769 |
|  | ***Industrials (20.8%)*** |  |
| 1991 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. | 285131 |
| 3373 | &nbsp;&nbsp;&nbsp;&nbsp; Array Technologies, Inc.# | 74982 |
| 4259 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.# | 832379 |
| 4819 | &nbsp;&nbsp;&nbsp;&nbsp; CBIZ, Inc.# | 229336 |
| 5969 | &nbsp;&nbsp;&nbsp;&nbsp; CECO Environmental Corp.# | 85894 |
| 669 | &nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors, Inc.# | 87171 |
| 320 | &nbsp;&nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. | 53056 |
| 13106 | &nbsp;&nbsp;&nbsp;&nbsp; Leonardo DRS, Inc.# | 174965 |
| 1455 | &nbsp;&nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc.# | 78803 |
| 1872 | &nbsp;&nbsp;&nbsp;&nbsp; NV5 Global, Inc.# | 249519 |
| 2007 | &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 305445 |
| 1850 | &nbsp;&nbsp;&nbsp;&nbsp; Shyft Group, Inc. | 61586 |
| 4569 | &nbsp;&nbsp;&nbsp;&nbsp; Symbotic, Inc.# | 71505 |
| 15254 | &nbsp;&nbsp;&nbsp;&nbsp; Tecnoglass, Inc. | 522297 |
| 1140 | &nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech, Inc. | 177293 |
| 1007 | &nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. | 332038 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3621400 |
|  | ***Information Technology (18.8%)*** |  |
| 474 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. | 43959 |
| 536 | &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.# | 44788 |
| 3224 | &nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.# | 123060 |
| 596 | &nbsp;&nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.# | 65530 |
| 5369 | &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc. - Class A# | 171754 |
| 1130 | &nbsp;&nbsp;&nbsp;&nbsp; Calix, Inc.# | 59483 |
| 2000 | &nbsp;&nbsp;&nbsp;&nbsp; Diodes, Inc.# | 178380 |
| 962 | &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.# | 164117 |
| 16106 | &nbsp;&nbsp;&nbsp;&nbsp; Extreme Networks, Inc.# | 290391 |
| 24963 | &nbsp;&nbsp;&nbsp;&nbsp; Harmonic, Inc.# | 328763 |
| 197 | &nbsp;&nbsp;&nbsp;&nbsp; HubSpot, Inc.# | 68361 |
| 825 | &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc.# | 107069 |
| 9160 | &nbsp;&nbsp;&nbsp;&nbsp; indie Semiconductor, Inc.- Class A# | 73005 |
| 1175 | &nbsp;&nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.# | 89053 |
| 578 | &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. | 246552 |
| 4894 | &nbsp;&nbsp;&nbsp;&nbsp; Napco Security Technologies, Inc.# | 141779 |
| 713 | &nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp.# | 148511 |
| 1926 | &nbsp;&nbsp;&nbsp;&nbsp; Privia Health Group, Inc.# | 52079 |
| 424 | &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp.# | 48858 |
| 5763 | &nbsp;&nbsp;&nbsp;&nbsp; Smartsheet, Inc. - Class A# | 249019 |
| 1041 | &nbsp;&nbsp;&nbsp;&nbsp; Sprout Social, Inc. - Class A# | 66593 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Timpani SMID Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 789 | &nbsp;&nbsp;&nbsp;&nbsp; SPS Commerce, Inc.# | $107367 |
| 5491 | &nbsp;&nbsp;&nbsp;&nbsp; Toast, Inc. - Class A# | 122504 |
| 1609 | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.# | 139227 |
| 14513 | &nbsp;&nbsp;&nbsp;&nbsp; Zeta Global Holdings Corp. - Class A# | 131778 |
|  |  | 3261980 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (Cost $14,732,050) | 17307687 |
| **TOTAL INVESTMENTS (99.7%)**<br> (Cost $14,732,050) | **TOTAL INVESTMENTS (99.7%)**<br> (Cost $14,732,050) | 17307687 |
| OTHER ASSETS, LESS LIABILITIES (0.3%) | OTHER ASSETS, LESS LIABILITIES (0.3%) | 56903 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $17364590 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** Non-income producing security. 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| **COMMON STOCKS (95.9%)** | **COMMON STOCKS (95.9%)** | **COMMON STOCKS (95.9%)** |  |
|  | ***Communication Services (9.0%)*** | ***Communication Services (9.0%)*** | **** |
| 799780 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A#~ | $79050255 |  |
| 6570 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group, Inc.# | 355568 |  |
| 58800 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A# | 8759436 |  |
| 13851 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.# | 4901315 |  |
| 48791 | &nbsp;&nbsp;&nbsp;&nbsp; Perion Network, Ltd.# | 1634499 |  |
| 67030 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc.# | 10008249 |  |
| 5191 | &nbsp;&nbsp;&nbsp;&nbsp; World Wrestling Entertainment, Inc. - Class A | 439263 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;105148585 |  |
|  | ***Consumer Discretionary (15.8%)*** | ***Consumer Discretionary (15.8%)*** | **** |
| 634340 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.# | 65419484 |  |
| 43509 | &nbsp;&nbsp;&nbsp;&nbsp; Arhaus, Inc.#^ | 615652 |  |
| 10004 | &nbsp;&nbsp;&nbsp;&nbsp; Boot Barn Holdings, Inc.# | 835234 |  |
| 5418 | &nbsp;&nbsp;&nbsp;&nbsp; Chipotle Mexican Grill, Inc.# | 8920087 |  |
| 1920 | &nbsp;&nbsp;&nbsp;&nbsp; Churchill Downs, Inc. | 476352 |  |
| 14061 | &nbsp;&nbsp;&nbsp;&nbsp; Crocs, Inc.#^ | 1712208 |  |
| 7197 | &nbsp;&nbsp;&nbsp;&nbsp; Deckers Outdoor Corp.# | 3076574 |  |
| 68650 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc.# | 10309857 |  |
| 14985 | &nbsp;&nbsp;&nbsp;&nbsp; Etsy, Inc.# | 2061636 |  |
| 28978 | &nbsp;&nbsp;&nbsp;&nbsp; First Watch Restaurant Group, Inc.#^ | 469444 |  |
| 9422 | &nbsp;&nbsp;&nbsp;&nbsp; Five Below, Inc.#^ | 1857359 |  |
| 5388 | &nbsp;&nbsp;&nbsp;&nbsp; Floor & Decor Holdings, Inc. - Class A#^ | 489069 |  |
| 2007 | &nbsp;&nbsp;&nbsp;&nbsp; Fox Factory Holding Corp. | 237007 |  |
| 37096 | &nbsp;&nbsp;&nbsp;&nbsp; Genius Sports, Ltd.#^ | 203657 |  |
| 11624 | &nbsp;&nbsp;&nbsp;&nbsp; Grand Canyon Education, Inc.# | 1354894 |  |
| 115850 | &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp.# | 6835150 |  |
| 16414 | &nbsp;&nbsp;&nbsp;&nbsp; Light & Wonder, Inc.#^ | 1071014 |  |
| 62557 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc. | 13027495 |  |
| 33200 | &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.# | 10188416 |  |
| 139000 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B | 17698870 |  |
| 43236 | &nbsp;&nbsp;&nbsp;&nbsp; On Holding, AG - Class A#^ | 1003075 |  |
| 6688 | &nbsp;&nbsp;&nbsp;&nbsp; Planet Fitness, Inc. - Class A# | 566139 |  |
| 9922 | &nbsp;&nbsp;&nbsp;&nbsp; Portillo's, Inc. - Class A# | 223840 |  |
| 58189 | &nbsp;&nbsp;&nbsp;&nbsp; PowerSchool Holdings, Inc. - Class A#^ | 1310416 |  |
| 22015 | &nbsp;&nbsp;&nbsp;&nbsp; Sportradar Holding, AG - Class A#^ | 276288 |  |
| 111500 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# | 19314030 |  |
| 23470 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.# | 12062641 |  |
| 6015 | &nbsp;&nbsp;&nbsp;&nbsp; Wingstop, Inc.^ | 953197 |  |
| 49934 | &nbsp;&nbsp;&nbsp;&nbsp; Xponential Fitness, Inc. - Class A#^ | 1372186 |  |
|  |  | 183941271 |  |
|  | ***Consumer Staples (3.3%)*** |  |  |
| 38147 | &nbsp;&nbsp;&nbsp;&nbsp; Celsius Holdings, Inc.#^ | 3826907 |  |
| 17580 | &nbsp;&nbsp;&nbsp;&nbsp; Chefs' Warehouse, Inc.#^ | 672083 |  |
| 20300 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. - Class A | 4699856 |  |
| 43713 | &nbsp;&nbsp;&nbsp;&nbsp; elf Beauty, Inc.# | 2515683 |  |
| 24005 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 6651306 |  |
| 7333 | &nbsp;&nbsp;&nbsp;&nbsp; Freshpet, Inc.#^ | 464399 |  |
| 2945 | &nbsp;&nbsp;&nbsp;&nbsp; MGP Ingredients, Inc.^ | 287255 |  |
| 100600 | &nbsp;&nbsp;&nbsp;&nbsp; SunOpta, Inc.#^ | 821902 |  |
| 67700 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 5244042 |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 88386 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | $12716094 |
|  |  | 37899527 |
|  | ***Energy (1.9%)*** |  |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 6090700 |
| 9537 | &nbsp;&nbsp;&nbsp;&nbsp; Chord Energy Corp. | 1366938 |
| 2844 | &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 415565 |
| 38333 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 5756083 |
| 32569 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Energy, Inc. | 515567 |
| 36480 | &nbsp;&nbsp;&nbsp;&nbsp; Matador Resources Company^ | 2413517 |
| 26590 | &nbsp;&nbsp;&nbsp;&nbsp; NexTier Oilfield Solutions, Inc.# | 250478 |
| 16319 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 3759082 |
| 22070 | &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International, PLC# | 1255342 |
|  |  | 21823272 |
|  | ***Financials (4.9%)*** |  |
| 66950 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company~ | 11711563 |
| 57600 | &nbsp;&nbsp;&nbsp;&nbsp; Blackstone, Inc. | 5527296 |
| 75800 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 5868436 |
| 1127 | &nbsp;&nbsp;&nbsp;&nbsp; FactSet Research Systems, Inc. | 476653 |
| 21470 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 7853941 |
| 343960 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 5217873 |
| 3336 | &nbsp;&nbsp;&nbsp;&nbsp; Kinsale Capital Group, Inc. | 928876 |
| 80400 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. | 14062764 |
| 10723 | &nbsp;&nbsp;&nbsp;&nbsp; Skyward Specialty Insurance Group, Inc. | 198483 |
| 117130 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~ | 5489883 |
|  |  | 57335768 |
|  | ***Health Care (13.7%)*** |  |
| 8276 | &nbsp;&nbsp;&nbsp;&nbsp; Apellis Pharmaceuticals, Inc.#^ | 436394 |
| 23166 | &nbsp;&nbsp;&nbsp;&nbsp; Axonics, Inc.# | 1422392 |
| 304500 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.# | 14083125 |
| 141537 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company | 10282663 |
| 10666 | &nbsp;&nbsp;&nbsp;&nbsp; Collegium Pharmaceutical, Inc.#^ | 299501 |
| 31650 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp.~ | 8367627 |
| 133500 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.# | 14296515 |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | &nbsp;&nbsp;&nbsp;&nbsp;22369750 |
| 7557 | &nbsp;&nbsp;&nbsp;&nbsp; Halozyme Therapeutics, Inc.#^ | 391226 |
| 18700 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 9568790 |
| 7257 | &nbsp;&nbsp;&nbsp;&nbsp; Inmode, Ltd.#^ | 254358 |
| 6800 | &nbsp;&nbsp;&nbsp;&nbsp; Inspire Medical Systems, Inc.# | 1720808 |
| 7026 | &nbsp;&nbsp;&nbsp;&nbsp; Ionis Pharmaceuticals, Inc.# | 280127 |
| 44478 | &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.# | 10203698 |
| 40173 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals, PLC# | 6293502 |
| 1362 | &nbsp;&nbsp;&nbsp;&nbsp; Karuna Therapeutics, Inc.# | 271569 |
| 7677 | &nbsp;&nbsp;&nbsp;&nbsp; Krystal Biotech, Inc.# | 638112 |
| 11198 | &nbsp;&nbsp;&nbsp;&nbsp; Ligand Pharmaceuticals, Inc.# | 780501 |
| 13879 | &nbsp;&nbsp;&nbsp;&nbsp; Neurocrine Biosciences, Inc.# | 1539597 |
| 48361 | &nbsp;&nbsp;&nbsp;&nbsp; Paragon 28, Inc.#^ | 814883 |
| 7966 | &nbsp;&nbsp;&nbsp;&nbsp; Penumbra, Inc.#^ | 1994766 |
| 18540 | &nbsp;&nbsp;&nbsp;&nbsp; Phreesia, Inc.#^ | 695065 |
| 9668 | &nbsp;&nbsp;&nbsp;&nbsp; Revance Therapeutics, Inc.#^ | 335286 |
| 14263 | &nbsp;&nbsp;&nbsp;&nbsp; Sarepta Therapeutics, Inc.# | 1782447 |
| 11177 | &nbsp;&nbsp;&nbsp;&nbsp; Silk Road Medical, Inc.#^ | 607582 |
| 32854 | &nbsp;&nbsp;&nbsp;&nbsp; Syndax Pharmaceuticals, Inc.#^ | 942910 |
| 27200 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 15512976 |
| 16321 | &nbsp;&nbsp;&nbsp;&nbsp; TransMedics Group, Inc.#^ | 1028549 |
| 43518 | &nbsp;&nbsp;&nbsp;&nbsp; Treace Medical Concepts, Inc.#^ | 1004831 |
| 2895 | &nbsp;&nbsp;&nbsp;&nbsp; United Therapeutics Corp.# | 761877 |
| 49000 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 24460310 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** | **VALUE** | |
| 33800 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | $| 5593562 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;159035299 |  |
|  | ***Industrials (7.8%)*** |  |  |  |
| 321155 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp. - Class A~ |  | 14442340 |  |
| 10819 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Industrial Technologies, Inc. |  | 1549389 |  |
| 18333 | &nbsp;&nbsp;&nbsp;&nbsp; Array Technologies, Inc.#^ |  | 407543 |  |
| 23150 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.# |  | 4524436 |  |
| 26192 | &nbsp;&nbsp;&nbsp;&nbsp; CBIZ, Inc.# |  | 1246477 |  |
| 32437 | &nbsp;&nbsp;&nbsp;&nbsp; CECO Environmental Corp.# |  | 466768 |  |
| 3638 | &nbsp;&nbsp;&nbsp;&nbsp; Clean Harbors, Inc.# |  | 474031 |  |
| 359200 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp.~ |  | 11106464 |  |
| 1739 | &nbsp;&nbsp;&nbsp;&nbsp; Curtiss-Wright Corp. |  | 288326 |  |
| 31966 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. |  | 6664272 |  |
| 23400 | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc. |  | 5026788 |  |
| 71232 | &nbsp;&nbsp;&nbsp;&nbsp; Leonardo DRS, Inc.#^ |  | 950947 |  |
| 7906 | &nbsp;&nbsp;&nbsp;&nbsp; Montrose Environmental Group, Inc.#^ |  | 428189 |  |
| 10172 | &nbsp;&nbsp;&nbsp;&nbsp; NV5 Global, Inc.# |  | 1355826 |  |
| 10909 | &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  | 1660241 |  |
| 94000 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. |  | 9385900 |  |
| 10050 | &nbsp;&nbsp;&nbsp;&nbsp; Shyft Group, Inc. |  | 334565 |  |
| 24828 | &nbsp;&nbsp;&nbsp;&nbsp; Symbotic, Inc.# |  | 388558 |  |
| 82909 | &nbsp;&nbsp;&nbsp;&nbsp; Tecnoglass, Inc. |  | 2838804 |  |
| 6194 | &nbsp;&nbsp;&nbsp;&nbsp; Tetra Tech, Inc. |  | 963291 |  |
| 514400 | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.#~ |  | 15910392 |  |
| 43300 | &nbsp;&nbsp;&nbsp;&nbsp; Union Pacific Corp. |  | 8841427 |  |
| 5472 | &nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. |  | 1804283 |  |
|  |  |  | 91059257 |  |
|  | ***Information Technology (35.9%)*** | ***Information Technology (35.9%)*** | ***Information Technology (35.9%)*** | **** |
| 2575 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Energy Industries, Inc. |  | 238806 |  |
| 102300 | &nbsp;&nbsp;&nbsp;&nbsp; Advanced Micro Devices, Inc.# |  | 7687845 |  |
| 2912 | &nbsp;&nbsp;&nbsp;&nbsp; Agilysys, Inc.# |  | 243327 |  |
| 17523 | &nbsp;&nbsp;&nbsp;&nbsp; Allegro MicroSystems, Inc.# |  | 668853 |  |
| 6360 | &nbsp;&nbsp;&nbsp;&nbsp; Amdocs, Ltd. |  | 584675 |  |
| 35280 | &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. |  | 6049462 |  |
| 690490 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 99630802 |  |
| 24915 | &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, NV^ |  | 16464829 |  |
| 3238 | &nbsp;&nbsp;&nbsp;&nbsp; Axcelis Technologies, Inc.# |  | 356018 |  |
| 2530 | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc.# |  | 292519 |  |
| 29170 | &nbsp;&nbsp;&nbsp;&nbsp; Box, Inc. - Class A# |  | 933148 |  |
| 28315 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. |  | 16564558 |  |
| 6139 | &nbsp;&nbsp;&nbsp;&nbsp; Calix, Inc.# |  | 323157 |  |
| 6300 | &nbsp;&nbsp;&nbsp;&nbsp; Ciena Corp.# |  | 327726 |  |
| 3845 | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc. - Class A# |  | 287644 |  |
| 10873 | &nbsp;&nbsp;&nbsp;&nbsp; Diodes, Inc.# |  | 969763 |  |
| 15570 | &nbsp;&nbsp;&nbsp;&nbsp; DoubleVerify Holdings, Inc.# |  | 423348 |  |
| 5230 | &nbsp;&nbsp;&nbsp;&nbsp; ExlService Holdings, Inc.# |  | 892238 |  |
| 87529 | &nbsp;&nbsp;&nbsp;&nbsp; Extreme Networks, Inc.# |  | 1578148 |  |
| 26500 | &nbsp;&nbsp;&nbsp;&nbsp; Flex, Ltd.# |  | 618775 |  |
| 135677 | &nbsp;&nbsp;&nbsp;&nbsp; Harmonic, Inc.#^ |  | 1786866 |  |
| 1068 | &nbsp;&nbsp;&nbsp;&nbsp; HubSpot, Inc.# |  | 370607 |  |
| 4481 | &nbsp;&nbsp;&nbsp;&nbsp; Impinj, Inc.#^ |  | 581544 |  |
| 49785 | &nbsp;&nbsp;&nbsp;&nbsp; indie Semiconductor, Inc.- Class A# |  | 396786 |  |
| 47940 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. |  | 20262800 |  |
| 6389 | &nbsp;&nbsp;&nbsp;&nbsp; Lattice Semiconductor Corp.# |  | 484222 |  |
| 134778 | &nbsp;&nbsp;&nbsp;&nbsp; Marvell Technology, Inc. |  | 5815671 |  |
| 25825 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A |  | 9570745 |  |
| 415190 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ |  | 102888234 |  |
| 3144 | &nbsp;&nbsp;&nbsp;&nbsp; Monolithic Power Systems, Inc. |  | 1341105 |  |
| 26602 | &nbsp;&nbsp;&nbsp;&nbsp; Napco Security Technologies, Inc.# |  | 770660 |  |
| 158920 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp.~ |  | 31048200 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** | **VALUE** |
| 223760 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | $| 19793810 |
| 40545 | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.# |  | 13134147 |
| 3873 | &nbsp;&nbsp;&nbsp;&nbsp; Paylocity Holding Corp.# |  | 806707 |
| 58000 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.# |  | 4726420 |
| 10470 | &nbsp;&nbsp;&nbsp;&nbsp; Privia Health Group, Inc.# |  | 283109 |
| 4550 | &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.# |  | 613704 |
| 2306 | &nbsp;&nbsp;&nbsp;&nbsp; SiTime Corp.#^ |  | 265720 |
| 31322 | &nbsp;&nbsp;&nbsp;&nbsp; Smartsheet, Inc. - Class A# |  | 1353424 |
| 38600 | &nbsp;&nbsp;&nbsp;&nbsp; Snowflake, Inc. - Class A# |  | 6038584 |
| 5660 | &nbsp;&nbsp;&nbsp;&nbsp; Sprout Social, Inc. - Class A#^ |  | 362070 |
| 4290 | &nbsp;&nbsp;&nbsp;&nbsp; SPS Commerce, Inc.# |  | 583783 |
| 29846 | &nbsp;&nbsp;&nbsp;&nbsp; Toast, Inc. - Class A#^ |  | 665864 |
| 5440 | &nbsp;&nbsp;&nbsp;&nbsp; Trade Desk, Inc. - Class A# |  | 275808 |
| 158340 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ |  | 36451451 |
| 8747 | &nbsp;&nbsp;&nbsp;&nbsp; Workiva, Inc.#^ |  | 756878 |
| 78881 | &nbsp;&nbsp;&nbsp;&nbsp; Zeta Global Holdings Corp. - Class A#^ |  | 716239 |
| 2375 | &nbsp;&nbsp;&nbsp;&nbsp; Zscaler, Inc.# |  | 294880 |
|  |  |  | 417575679 |
|  | ***Materials (3.6%)*** |  |  |
| 55148 | &nbsp;&nbsp;&nbsp;&nbsp; Celanese Corp. |  | 6794234 |
| 51000 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 16877940 |
| 39195 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# |  | 17838820 |
|  |  |  | 41510994 |
|  | **TOTAL COMMON STOCKS**<br> (Cost $825,738,637) |  | &nbsp;&nbsp;&nbsp;&nbsp;1115329652 |
| **EXCHANGE-TRADED FUND (0.3%)** | **EXCHANGE-TRADED FUND (0.3%)** |  |  |
|  | ***Other (0.3%)*** |  |  |
| 14295 | &nbsp;&nbsp;&nbsp;&nbsp; Invesco QQQ Trust Series 1^<br> (Cost $4,018,687) |  | 4211593 |
| **NUMBER OF<br>CONTRACTS/<br>NOTIONAL<br>AMOUNT** |  | **VALUE** | **VALUE** |
| **PURCHASED OPTIONS (0.1%) #** | **PURCHASED OPTIONS (0.1%) #** |  |  |
|  | ***Health Care (0.0%)*** |  |  |
| 135 | Humana, Inc. |  |  |
| 6907950 | Put, 02/17/23, Strike $480.00 |  | 50625 |
|  | ***Other (0.1%)*** |  |  |
| 1435 | SPDR S&P 500 ETF Trust |  |  |
| 58329880 | Put, 02/03/23, Strike $405.00 |  | 546735 |
|  | **TOTAL PURCHASED OPTIONS**<br> (Cost $762,904) |  | 597360 |
| **NUMBER OF<br>SHARES/<br>PRINCIPAL<br>AMOUNT** |  | **VALUE** | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.9%)** |
| 4404152 | JPMorgan Prime Money Market Fund - Capital Class, 4.490%\*\*\*† |  | 4404152 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF<br>SHARES/<br>PRINCIPAL<br>AMOUNT** | | **VALUE** | **VALUE** |
| 17412982 | State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† | $| 17412982 |
|  | **TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED**<br> (Cost $21,817,134) |  | 21817134 |
| **TOTAL INVESTMENTS (98.2%)**<br> (Cost $852,337,362) | **TOTAL INVESTMENTS (98.2%)**<br> (Cost $852,337,362) |  | &nbsp;&nbsp;&nbsp;&nbsp;1141955739 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-1.9%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-1.9%) |  | (21817134) |
| OTHER ASSETS, LESS LIABILITIES (3.6%) | OTHER ASSETS, LESS LIABILITIES (3.6%) |  | 42256531 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $| 1162395136 |
| **NUMBER OF<br>CONTRACTS/<br>NOTIONAL<br>AMOUNT** |  | **VALUE** | **VALUE** |
| **WRITTEN OPTIONS (0.0%) #** | **WRITTEN OPTIONS (0.0%) #** | **WRITTEN OPTIONS (0.0%) #** | **WRITTEN OPTIONS (0.0%) #** |
|  | ***Consumer Discretionary (0.0%)*** |  |  |
| 160 | Tesla, Inc. |  |  |
| 2771520 | Call, 02/03/23, Strike $195.00 |  | (9440) |
|  | ***Health Care (0.0%)*** |  |  |
| 135 | Humana, Inc. |  |  |
| 6907950 | Put, 02/17/23, Strike $450.00 |  | (14175) |
|  | ***Other (0.0%)*** |  |  |
| 1435 | SPDR S&P 500 ETF Trust |  |  |
| 58329880 | Put, 02/03/23, Strike $395.00 |  | (136325) |
|  | **TOTAL WRITTEN OPTIONS**<br> (Premium $289,071) |  | (159940) |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** Non-income producing security. 

~ 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 $26,779,808. <br>

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

\*\*\* The rate disclosed is the 7 day net yield as of January 31, 2023.

† Represents investment of cash collateral received from securities on loan as of January 31, 2023.

*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 Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**FUTURES CONTRACTS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Number of<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts  | Description | Expiration<br>Date | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notional<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Value | Market Value/<br>Unrealized<br> Appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)  | Market Value/<br>Unrealized<br> Appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)  |
| Buys |  |  |  |  |  |
| 15000 | Chicago Board Options Exchange VIX Futures | Mar 2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(307209) | $— | 13280 |
| 24000 | Chicago Board Options Exchange VIX Futures | Feb 2023 | (468617) |  | 48504 |
|  |  |  |  | $— | 61784 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth and Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| **CONVERTIBLE BONDS (13.9%)** | **CONVERTIBLE BONDS (13.9%)** | **CONVERTIBLE BONDS (13.9%)** |
|  | ***Communication Services (1.7%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp. |  |
| 7315000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/27\* | $7694137 |
| 6963000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 10/15/23 | 9116099 |
| 2275000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 12/01/50\* | 2387931 |
| 13805000 | &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.^<br> 2.000%, 02/15/25 | 14266915 |
| 2500000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Finance Co. 3, Inc.\*<br> 2.000%, 01/15/30 | 2458125 |
| 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Financeco 2, Inc.\*<br> 0.875%, 06/15/26 | 2887350 |
|  |  | 38810557 |
|  | ***Consumer Discretionary (2.0%)*** |  |
| 4760000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.<br> 3.375%, 08/15/26 | 3111469 |
| 18610000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company 03/15/26 | 18947213 |
| 2515000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Broadband Corp.\*<br> 2.750%, 09/30/50 | 2465253 |
| 7235000 | &nbsp;&nbsp;&nbsp;&nbsp; Marriott Vacations Worldwide Corp. 01/15/26 | 7818575 |
| 325000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.<br> 2.000%, 05/15/24 | 2718716 |
| 9200000 | &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc.^ 01/01/26 | 8757480 |
| 21000000 HKD | &nbsp;&nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings, Ltd.<br> 05/21/25 | 3183230 |
|  |  | 47001936 |
|  | ***Energy (0.4%)*** |  |
| 1490000 | &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.<br> 1.750%, 05/01/26 | 3352321 |
| 5425000 | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\*<br> 3.625%, 04/15/29 | 6199527 |
|  |  | 9551848 |
|  | ***Financials (0.6%)*** |  |
| 3950000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Capital Corp.<br> 4.625%, 03/01/24 | 4159508 |
| 9225000 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Finance, LLC<br> 1.000%, 11/23/27 | 9743906 |
|  |  | 13903414 |
|  | ***Health Care (2.6%)*** |  |
| 7225000 | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\*<br> 1.000%, 09/15/27 | 7729305 |
| 13570000 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.^<br> 0.250%, 11/15/25 | 14306173 |
| 3899000 | &nbsp;&nbsp;&nbsp;&nbsp; Envista Holdings Corp.<br> 2.375%, 06/01/25 | 7453601 |
| 3365000 | &nbsp;&nbsp;&nbsp;&nbsp; Integra LifeSciences Holdings Corp.<br> 0.500%, 08/15/25 | 3289153 |
| 12670000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Investments I, Ltd.^<br> 2.000%, 06/15/26 | 14943631 |
| 9355000 | &nbsp;&nbsp;&nbsp;&nbsp; Pacira BioSciences, Inc.<br> 0.750%, 08/01/25 | 8601923 |
| 4400000 | &nbsp;&nbsp;&nbsp;&nbsp; Tandem Diabetes Care, Inc.\*<br> 1.500%, 05/01/25 | 4020016 |
|  |  | 60343802 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL<br>AMOUNT** | **PRINCIPAL<br>AMOUNT** | | **VALUE** | **VALUE** | |
|  |  | ***Industrials (1.8%)*** |  |  |  |
|  | 3950000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Transport Services Group, Inc.<br> 1.125%, 10/15/24 | $| 4189765 |  |
|  | 4585000 | &nbsp;&nbsp;&nbsp;&nbsp; Axon Enterprise, Inc.\*<br> 0.500%, 12/15/27 |  | 4949645 |  |
|  | 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 1.000%, 11/15/24 |  | 2962843 |  |
|  | 14230000 | &nbsp;&nbsp;&nbsp;&nbsp; John Bean Technologies Corp.<br> 0.250%, 05/15/26 |  | 13183953 |  |
|  | 11650000 | &nbsp;&nbsp;&nbsp;&nbsp; Middleby Corp.<br> 1.000%, 09/01/25 |  | 15228647 |  |
|  |  |  |  | 40514853 |  |
|  |  | ***Information Technology (3.9%)*** |  |  |  |
|  | 3400000 | &nbsp;&nbsp;&nbsp;&nbsp; Akamai Technologies, Inc.^<br> 0.375%, 09/01/27 |  | 3384054 |  |
|  | 3860000 | &nbsp;&nbsp;&nbsp;&nbsp; Bill.com Holdings, Inc. 12/01/25 |  | 4054235 |  |
|  | 13910000 | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd. 11/15/24 |  | 15330489 |  |
|  | 1960000 | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.<br> 0.125%, 06/15/25 |  | 2150394 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc. |  |  |  |
|  | 8204000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/26 |  | 8656287 |  |
|  | 4990000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.000%, 03/01/28^ |  | 5382513 |  |
|  | 11597000 | &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc.^<br> 0.125%, 11/15/24 |  | 12880556 |  |
|  | 2235000 | &nbsp;&nbsp;&nbsp;&nbsp; Nova, Ltd. 10/15/25 |  | 2945574 |  |
|  | 10185000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.<br> 05/01/27 |  | 15277500 |  |
|  | 3825000 | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.<br> 0.375%, 06/01/25 |  | 6281874 |  |
|  | 3322000 | &nbsp;&nbsp;&nbsp;&nbsp; Silicon Laboratories, Inc.<br> 0.625%, 06/15/25 |  | 4571670 |  |
|  | 4725000 | &nbsp;&nbsp;&nbsp;&nbsp; Tyler Technologies, Inc.^<br> 0.250%, 03/15/26 |  | 4491680 |  |
|  | 4655000 | &nbsp;&nbsp;&nbsp;&nbsp; Wolfspeed, Inc.\*<br> 1.875%, 12/01/29 |  | 4521355 |  |
|  |  |  |  | 89928181 |  |
|  |  | ***Materials (0.4%)*** |  |  |  |
|  | 4800000 | &nbsp;&nbsp;&nbsp;&nbsp; Glencore Funding, LLC<br> 0.000%, 03/27/25 |  | 5561472 |  |
|  | 2485000 | &nbsp;&nbsp;&nbsp;&nbsp; MP Materials Corp.\*<br> 0.250%, 04/01/26 |  | 2487634 |  |
|  |  |  |  | 8049106 |  |
|  |  | ***Real Estate (0.5%)*** |  |  |  |
|  | 2,600,000EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd. 02/05/25 |  | 3588272 |  |
|  | 8975000 | &nbsp;&nbsp;&nbsp;&nbsp; Pebblebrook Hotel Trust<br> 1.750%, 12/15/26 |  | 8149390 |  |
|  |  |  |  | 11737662 |  |
|  |  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $307,491,537) |  | 319841359 |  |
| **NUMBER OF<br>SHARES** | **NUMBER OF<br>SHARES** |  | **VALUE** | **VALUE** |  |
| **** | ***CONVERTIBLE PREFERRED STOCKS (5.6%)*** | ***CONVERTIBLE PREFERRED STOCKS (5.6%)*** | ***CONVERTIBLE PREFERRED STOCKS (5.6%)*** | ***CONVERTIBLE PREFERRED STOCKS (5.6%)*** | **** |
|  |  | ***Communication Services (1.4%)*** |  |  |  |
|  | 25725 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile Exchangeable Trust\*<br> 5.250%, 06/01/23 |  | 31008401 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth and Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** | **VALUE** | |
|  | ***Consumer Discretionary (0.7%)*** |  |  |  |
| 122480 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC<br> 5.500%, 06/15/23 | $| 15431255 |  |
|  | ***Financials (0.6%)*** |  |  |  |
| 80250 | &nbsp;&nbsp;&nbsp;&nbsp; AMG Capital Trust II<br> 5.150%, 10/15/37 |  | 4245867 |  |
| 154380 | &nbsp;&nbsp;&nbsp;&nbsp; KKR & Company, Inc.<br> 6.000%, 09/15/23 |  | 10429913 |  |
|  |  |  | 14675780 |  |
|  | ***Health Care (0.4%)*** |  |  |  |
| 89145 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.<br> 5.500%, 06/01/23 |  | 10174119 |  |
|  | ***Industrials (0.1%)*** |  |  |  |
| 56341 | &nbsp;&nbsp;&nbsp;&nbsp; Chart Industries, Inc.<br> 6.750%, 12/15/25 |  | 3205239 |  |
|  | ***Utilities (2.4%)*** |  |  |  |
| 131150 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.<br> 6.875%, 02/15/24 |  | 13094016 |  |
| 481075 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power<br> Company, Inc.^<br> 6.125%, 08/15/23 |  | 24751309 |  |
| 80675 | &nbsp;&nbsp;&nbsp;&nbsp; CenterPoint Energy, Inc. (Warner<br> Media, LLC, Charter<br> Communications Time, Inc.)^\*\*<br> 3.369%, 09/15/29 |  | 3382703 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |  |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 |  | 10309250 |  |
| 88405 | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23 |  | 4233715 |  |
|  |  |  | 55770993 |  |
|  | **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $120,558,608) |  | 130265787 |  |
| **COMMON STOCKS (70.7%)** | **COMMON STOCKS (70.7%)** | **COMMON STOCKS (70.7%)** | **COMMON STOCKS (70.7%)** |  |
|  | ***Communication Services (5.6%)*** | ***Communication Services (5.6%)*** | ***Communication Services (5.6%)*** | **** |
| 756405 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A#~ |  | 74763070 |  |
| 321635 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. - Class A |  | 12656337 |  |
| 119745 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A# |  | 17838413 |  |
| 27710 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.# |  | 9805461 |  |
| 126745 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company# |  | 13750565 |  |
|  |  |  | 128813846 |  |
|  | ***Consumer Discretionary (7.6%)*** |  |  |  |
| 561200 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.# |  | 57876556 |  |
| 3710 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.# |  | 9030511 |  |
| 50445 | &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. |  | 16352756 |  |
| 238925 | &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp.# |  | 14096575 |  |
| 33625 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc. |  | 7002406 |  |
| 47685 | &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. |  | 12750969 |  |
| 100640 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B |  | 12814491 |  |
| 91035 | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. |  | 9935560 |  |
| 115475 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# |  | 20002579 |  |
| 50060 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc. |  | 4097912 |  |
| 21935 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.# |  | 11273713 |  |
|  |  |  | 175234028 |  |
|  | ***Consumer Staples (6.3%)*** |  |  |  |
| 408935 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company |  | 25075894 |  |
| 23370 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. |  | 11945342 |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** | | **VALUE** |
| 33785 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | $9361148 |
| 215050 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A | 14072872 |
| 60850 | &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.# | 6333268 |
| 98075 | &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 16772786 |
| 155005 | &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 16157721 |
| 152560 | &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Company | 21721493 |
| 140095 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 10851759 |
| 98230 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 14132350 |
|  |  | 146424633 |
|  | ***Energy (4.5%)*** |  |
| 110650 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 19255313 |
| 97640 | &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 11899387 |
| 258910 | &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 30036149 |
| 60150 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 9032124 |
| 111565 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp.~ | 14338334 |
| 25285 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 5824399 |
| 244690 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. | 13942436 |
|  |  | 104328142 |
|  | ***Financials (8.1%)*** |  |
| 39170 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company | 6852008 |
| 99710 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. | 6303666 |
| 43888 | &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 5819110 |
| 541560 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 19214549 |
| 9110 | &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Inc. | 6916403 |
| 185505 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 14361797 |
| 76160 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. | 17325639 |
| 58455 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 3052520 |
| 84145 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services | 9822246 |
| 21995 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 8045991 |
| 363495 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 5514219 |
| 173430 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company | 24273263 |
| 259175 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 4973568 |
| 97830 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. | 17111445 |
| 236405 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 23009299 |
| 320775 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company~ | 15034724 |
|  |  | 187630447 |
|  | ***Health Care (10.0%)*** |  |
| 137690 | &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories~ | 15221629 |
| 113510 | &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | 16771102 |
| 99305 | &nbsp;&nbsp;&nbsp;&nbsp; Alcon, Inc. | 7468729 |
| 153370 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company | 11142331 |
| 68650 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 18149687 |
| 19290 | &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 9644807 |
| 42885 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 14758873 |
| 123045 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 10328397 |
| 8905 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 4556689 |
| 203220 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 33210212 |
| 98030 | &nbsp;&nbsp;&nbsp;&nbsp; Medtronic, PLC | 8204131 |
| 179870 | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc. | 19319837 |
| 206135 | &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. | 9102922 |
| 17705 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 10097693 |
| 85950 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 42905380 |
|  |  | 230882419 |
|  | ***Industrials (4.7%)*** |  |
| 696840 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. | 21546293 |
| 120840 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 25192723 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth and Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| 64255 | &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. |  | 12147408 |
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  |  | **VALUE** | **VALUE** |
| 25300 | &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | $| 11335412 |
| 283825 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. |  | 28339926 |
| 125020 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company |  | 4471965 |
| 17665 | &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. |  | 4483554 |
|  |  |  | 107517281 |
|  | ***Information Technology (19.4%)*** |  |  |
| 57015 | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A |  | 15910036 |
| 18515 | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.# |  | 6856845 |
| 965565 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 139321374 |
| 39769 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. |  | 23265263 |
| 185485 | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. |  | 9027555 |
| 8450 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. |  | 3571561 |
| 13650 | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. |  | 6826365 |
| 68530 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A |  | 25397218 |
| 78250 | &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. |  | 4718475 |
| 462645 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ |  | 114648057 |
| 165360 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 32306383 |
| 66560 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. |  | 5887898 |
| 94090 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.# |  | 7667394 |
| 42205 | &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc. |  | 5622128 |
| 49060 | &nbsp;&nbsp;&nbsp;&nbsp; Salesforce, Inc.# |  | 8240608 |
| 168980 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ |  | 38900886 |
|  |  |  | 448168046 |
|  | ***Materials (2.8%)*** |  |  |
| 308640 | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 13771517 |
| 90600 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 29983164 |
| 71140 | &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. |  | 9272388 |
| 18370 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# |  | 8360738 |
| 19155 | &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Company |  | 3511686 |
|  |  |  | 64899493 |
|  | ***Real Estate (0.8%)*** |  |  |
| 60195 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. |  | 13446961 |
| 117530 | &nbsp;&nbsp;&nbsp;&nbsp; Invitation Homes, Inc. |  | 3819725 |
|  |  |  | 17266686 |
|  | ***Utilities (0.9%)*** |  |  |
| 170392 | &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Company |  | 19828459 |
|  | **TOTAL COMMON STOCKS**<br> (Cost $832,656,817) |  | 1630993480 |
| **EXCHANGE-TRADED FUND (1.4%)** | **EXCHANGE-TRADED FUND (1.4%)** | **EXCHANGE-TRADED FUND (1.4%)** | **EXCHANGE-TRADED FUND (1.4%)** |
|  | ***Other (1.4%)*** |  |  |
| 1010915 | iShares China Large-Cap ETF<br> (Cost $27,498,444) |  | 32147097 |
| **PRINCIPAL<br> AMOUNT** |  | **VALUE** | **VALUE** |
| **U.S. GOVERNMENT AND AGENCY SECURITIES (2.1%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (2.1%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (2.1%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (2.1%)** |
|  | ***Other (2.1%)*** |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Note |  |  |
| 25160000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 10/31/24 |  | 25172285 |
| 24335000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/31/24 |  | 23670065 |
|  | **TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES**<br> (Cost $49,366,641) |  | 48842350 |

---

---

| | | |
|:---|:---|:---|
| <br>**NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**CONTRACTS/** <br> **NOTIONAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| **PURCHASED OPTIONS (0.4%) #** | **PURCHASED OPTIONS (0.4%) #** | **PURCHASED OPTIONS (0.4%) #** |
|  | ***Other (0.4%)*** |  |
| 13000 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI EAFE ETF |  |
| 93015000 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $72.00$ | $3926000 |
| 16700 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets |  |
| 69071200 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $42.00 | 3289900 |
| 3150 | &nbsp;&nbsp;&nbsp;&nbsp; iShares Russell 2000 ETF |  |
| 60316200 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $195.00 | 1384425 |
| 145 | &nbsp;&nbsp;&nbsp;&nbsp; S&P 500 Index |  |
| 59110700 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 03/31/23, Strike $4,000.00 | 1153475 |
| 1540 | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P 500 ETF Trust |  |
| 62597920 | &nbsp;&nbsp;&nbsp;&nbsp; Put, 02/17/23, Strike $375.00 | 103180 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PURCHASED OPTIONS**<br> (Cost $12,675,219) | 9856980 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  |  | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.5%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.5%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.5%)** |
| 20979072 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Prime Money Market<br> Fund - Capital Class, 4.49%\*\*\*† | 20979072 |
| 14013371 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities<br> Lending Government Money<br> Market Portfolio, 4.290%† | 14013371 |
|  | **TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED**<br> (Cost $34,992,443) | 34992443 |
| **TOTAL INVESTMENTS (95.6%)**<br> (Cost $1,385,239,709) | **TOTAL INVESTMENTS (95.6%)**<br> (Cost $1,385,239,709) | 2206939496 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-1.5%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-1.5%) | (34992443) |
| OTHER ASSETS, LESS LIABILITIES (5.9%) | OTHER ASSETS, LESS LIABILITIES (5.9%) | 136813215 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $2308760268 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**\*\*** Step coupon security. Coupon changes periodically based upon a predetermined schedule. The rate shown is the rate in effect at January 31, 2023. 

**#** Non-income producing security. 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Growth and Income Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | |
|:---|:---|
| **~** | 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 $13,333,254.  |

---

**\*\*\*** The rate disclosed is the 7 day net yield as of January 31, 2023. 

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **EUR** | European Monetary Unit |
| **HKD** | Hong Kong Dollar |

---

*Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. 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 Dividend Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
| **CONVERTIBLE PREFERRED STOCK (0.4%)** | **CONVERTIBLE PREFERRED STOCK (0.4%)** | **CONVERTIBLE PREFERRED STOCK (0.4%)** |
|  | ***Health Care (0.4%)*** |  |
| 700 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.^<br> 5.500%, 06/01/23<br> (Cost $81,132) | $79891 |
| **COMMON STOCKS (94.6%)** | **COMMON STOCKS (94.6%)** | **COMMON STOCKS (94.6%)** |
|  | ***Communication Services (6.8%)*** |  |
| 5860 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class C# | 585238 |
| 3070 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp. - Class A | 120804 |
| 330 | &nbsp;&nbsp;&nbsp;&nbsp; Live Nation Entertainment, Inc.# | 26562 |
| 935 | &nbsp;&nbsp;&nbsp;&nbsp; Meta Platforms, Inc. - Class A# | 139287 |
| 215 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.# | 76080 |
| 1200 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc.# | 179172 |
| 935 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company# | 101438 |
|  |  | 1228581 |
|  | ***Consumer Discretionary (11.3%)*** |  |
| 4100 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.# | 422833 |
| 880 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC# | 99519 |
| 47 | &nbsp;&nbsp;&nbsp;&nbsp; Booking Holdings, Inc.# | 114403 |
| 5875 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company | 79371 |
| 445 | &nbsp;&nbsp;&nbsp;&nbsp; Home Depot, Inc. | 144256 |
| 1870 | &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp.# | 110330 |
| 440 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc. | 91630 |
| 695 | &nbsp;&nbsp;&nbsp;&nbsp; McDonald's Corp. | 185843 |
| 1745 | &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International | 72260 |
| 1395 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B | 177625 |
| 1455 | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 158799 |
| 975 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla, Inc.# | 168890 |
| 1130 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc. | 92502 |
| 190 | &nbsp;&nbsp;&nbsp;&nbsp; Ulta Beauty, Inc.# | 97652 |
| 20 | &nbsp;&nbsp;&nbsp;&nbsp; Vail Resorts, Inc. | 5247 |
|  |  | 2021160 |
|  | ***Consumer Staples (7.9%)*** |  |
| 3305 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company | 202662 |
| 205 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 104784 |
| 265 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 73426 |
| 1615 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A | 105686 |
| 710 | &nbsp;&nbsp;&nbsp;&nbsp; Monster Beverage Corp.# | 73897 |
| 1180 | &nbsp;&nbsp;&nbsp;&nbsp; PepsiCo, Inc. | 201804 |
| 1520 | &nbsp;&nbsp;&nbsp;&nbsp; Philip Morris International, Inc. | 158445 |
| 1190 | &nbsp;&nbsp;&nbsp;&nbsp; Procter & Gamble Company | 169432 |
| 2175 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 168475 |
| 1075 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 154660 |
|  |  | 1413271 |
|  | ***Energy (6.2%)*** |  |
| 920 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 160098 |
| 1690 | &nbsp;&nbsp;&nbsp;&nbsp; ConocoPhillips | 205960 |
| 2680 | &nbsp;&nbsp;&nbsp;&nbsp; Exxon Mobil Corp. | 310907 |
| 585 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 87844 |
| 1335 | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 171574 |
| 195 | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 44918 |
| 2260 | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger Ltd. | 128775 |
|  |  | 1110076 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
|  | ***Financials (11.3%)*** |  |
| 690 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company | $120702 |
| 360 | &nbsp;&nbsp;&nbsp;&nbsp; American International Group, Inc. | 22759 |
| 495 | &nbsp;&nbsp;&nbsp;&nbsp; Assurant, Inc. | 65632 |
| 4710 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 167111 |
| 640 | &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway, Inc. - Class B# | 199373 |
| 70 | &nbsp;&nbsp;&nbsp;&nbsp; BlackRock, Inc. | 53145 |
| 1810 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp. | 140130 |
| 830 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. | 188817 |
| 715 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc. | 37337 |
| 750 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Financial Services | 87547 |
| 215 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 78649 |
| 6795 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 103080 |
| 1750 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company | 244930 |
| 1540 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp | 29553 |
| 645 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. | 112817 |
| 1995 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 194173 |
| 3840 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company | 179981 |
|  |  | 2025736 |
|  | ***Health Care (13.0%)*** |  |
| 1540 | &nbsp;&nbsp;&nbsp;&nbsp; Abbott Laboratories | 170247 |
| 1340 | &nbsp;&nbsp;&nbsp;&nbsp; AbbVie, Inc. | 197985 |
| 740 | &nbsp;&nbsp;&nbsp;&nbsp; Alcon, Inc. | 55655 |
| 1890 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company | 137309 |
| 580 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 153340 |
| 325 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.# | 34804 |
| 180 | &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. | 89998 |
| 730 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 251230 |
| 1280 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. | 107443 |
| 70 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 35819 |
| 1810 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson | 295790 |
| 730 | &nbsp;&nbsp;&nbsp;&nbsp; Medtronic, PLC | 61094 |
| 2275 | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc. | 244358 |
| 1940 | &nbsp;&nbsp;&nbsp;&nbsp; Pfizer, Inc. | 85670 |
| 200 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. | 114066 |
| 592 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 295521 |
|  |  | 2330329 |
|  | ***Industrials (5.8%)*** |  |
| 6280 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. | 194178 |
| 840 | &nbsp;&nbsp;&nbsp;&nbsp; Fortive Corp. | 57145 |
| 1205 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 251218 |
| 505 | &nbsp;&nbsp;&nbsp;&nbsp; JB Hunt Transport Services, Inc. | 95470 |
| 225 | &nbsp;&nbsp;&nbsp;&nbsp; Northrop Grumman Corp. | 100809 |
| 2075 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | 207189 |
| 2070 | &nbsp;&nbsp;&nbsp;&nbsp; Southwest Airlines Company# | 74044 |
| 245 | &nbsp;&nbsp;&nbsp;&nbsp; Stryker Corp. | 62184 |
|  |  | 1042237 |
|  | ***Information Technology (25.4%)*** |  |
| 660 | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A | 184173 |
| 115 | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.# | 42589 |
| 8240 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 1188950 |
| 518 | &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. | 57752 |
| 440 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 257404 |
| 2235 | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. | 108777 |
| 235 | &nbsp;&nbsp;&nbsp;&nbsp; Enphase Energy, Inc.# | 52024 |
| 390 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 164841 |
| 110 | &nbsp;&nbsp;&nbsp;&nbsp; Lam Research Corp. | 55011 |
| 715 | &nbsp;&nbsp;&nbsp;&nbsp; Mastercard, Inc. - Class A | 264979 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Dividend Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | **VALUE** |
| 1125 | &nbsp;&nbsp;&nbsp;&nbsp; Microchip Technology, Inc. | $| 87323 |
| 415 | &nbsp;&nbsp;&nbsp;&nbsp; Micron Technology, Inc. |  | 25025 |
| 4095 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. |  | 1014782 |
| 1365 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 266680 |
| 1780 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. |  | 157459 |
| 455 | &nbsp;&nbsp;&nbsp;&nbsp; Palo Alto Networks, Inc.# |  | 72181 |
| 740 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.# |  | 60303 |
| 440 | &nbsp;&nbsp;&nbsp;&nbsp; QUALCOMM, Inc. |  | 58612 |
| 385 | &nbsp;&nbsp;&nbsp;&nbsp; salesforce, Inc.# |  | 64668 |
| 550 | &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc. |  | 97466 |
| 1230 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ |  | 283158 |
|  |  |  | 4564157 |
|  | ***Materials (2.9%)*** |  |  |
| 2405 | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 107311 |
| 660 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 218420 |
| 555 | &nbsp;&nbsp;&nbsp;&nbsp; PPG Industries, Inc. |  | 72339 |
| 170 | &nbsp;&nbsp;&nbsp;&nbsp; ServiceNow, Inc.# |  | 77372 |
| 75 | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin-Williams Company |  | 17744 |
| 150 | &nbsp;&nbsp;&nbsp;&nbsp; Vulcan Materials Company |  | 27500 |
|  |  |  | 520686 |
|  | ***Real Estate (0.8%)*** |  |  |
| 630 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. |  | 140736 |
|  | ***Utilities (3.2%)*** |  |  |
| 6120 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp. |  | 167749 |
| 2150 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc. |  | 202014 |
| 1175 | &nbsp;&nbsp;&nbsp;&nbsp; DTE Energy Company |  | 136735 |
| 1000 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  | 74630 |
|  |  |  | 581128 |
|  | **TOTAL COMMON STOCKS**<br> (Cost $10,876,734) |  | 16978097 |
| **EXCHANGE-TRADED FUNDS (4.8%)** | **EXCHANGE-TRADED FUNDS (4.8%)** | **EXCHANGE-TRADED FUNDS (4.8%)** | **EXCHANGE-TRADED FUNDS (4.8%)** |
|  | ***Other (4.8%)*** |  |  |
| 565 | &nbsp;&nbsp;&nbsp;&nbsp; iShares Biotechnology ETF |  | 77151 |
| 5635 | &nbsp;&nbsp;&nbsp;&nbsp; iShares China Large-Cap ETF |  | 179193 |
| 2345 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI EAFE ETF^ |  | 167785 |
| 1935 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Emerging Markets ETF^ |  | 80032 |
| 1000 | &nbsp;&nbsp;&nbsp;&nbsp; iShares Russell 2000 Growth ETF |  | 235960 |
| 425 | &nbsp;&nbsp;&nbsp;&nbsp; SPDR S&P Biotech ETF^ |  | 37782 |
| 915 | &nbsp;&nbsp;&nbsp;&nbsp; Vanguard Communication Services ETF |  | 86559 |
|  | **TOTAL EXCHANGE-TRADED FUNDS**<br> (Cost $761,678) |  | 864462 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  |  | **VALUE** | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (1.4%)** |
| 254616 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities<br> Lending Government Money Market<br> Portfolio, 4.290%†<br> (Cost $254,616) |  | 254616 |

---

---

| | |
|:---|:---|
| | **VALUE** |
| **TOTAL INVESTMENTS (101.2%)**<br> (Cost $11,974,160) | $18177066 |
| PAYABLE UPON RETURN OF SECURITIES ON LOAN (- 1.4%) | (254616) |
| OTHER ASSETS, LESS LIABILITIES (0.2%) | 32235 |
| **NET ASSETS (100.0%)** | $17954685 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**#** Non-income producing security. 

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Select Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| **COMMON STOCKS (97.5%)** | **COMMON STOCKS (97.5%)** | **COMMON STOCKS (97.5%)** |  |
|  | ***Communication Services (7.9%)*** | ***Communication Services (7.9%)*** | **** |
| 20618 | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A# | $2037883 |  |
| 4640 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US, Inc.# | 692798 |  |
| 6085 | &nbsp;&nbsp;&nbsp;&nbsp; Walt Disney Company# | 660162 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;3390843 |  |
|  | ***Consumer Discretionary (11.2%)*** | ***Consumer Discretionary (11.2%)*** | **** |
| 18604 | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.# | 1918631 |  |
| 12082 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.# | 628989 |  |
| 4290 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar Tree, Inc.# | 644272 |  |
| 1182 | &nbsp;&nbsp;&nbsp;&nbsp; Lululemon Athletica, Inc.# | 362732 |  |
| 4771 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B | 607491 |  |
| 8142 | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc. | 666504 |  |
|  |  | 4828619 |  |
|  | ***Consumer Staples (9.5%)*** |  |  |
| 10725 | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company | 657657 |  |
| 2758 | &nbsp;&nbsp;&nbsp;&nbsp; Constellation Brands, Inc. - Class A | 638532 |  |
| 1751 | &nbsp;&nbsp;&nbsp;&nbsp; Estee Lauder Companies, Inc. - Class A | 485167 |  |
| 10812 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc. - Class A | 707538 |  |
| 8361 | &nbsp;&nbsp;&nbsp;&nbsp; Sysco Corp. | 647643 |  |
| 6654 | &nbsp;&nbsp;&nbsp;&nbsp; Walmart, Inc. | 957311 |  |
|  |  | 4093848 |  |
|  | ***Energy (4.2%)*** |  |  |
| 7617 | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 1325511 |  |
| 3283 | &nbsp;&nbsp;&nbsp;&nbsp; Hess Corp. | 492975 |  |
|  |  | 1818486 |  |
|  | ***Financials (11.1%)*** |  |  |
| 4640 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company | 811675 |  |
| 23200 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 823136 |  |
| 2101 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. | 477957 |  |
| 2145 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. | 784662 |  |
| 30817 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington Bancshares, Inc. | 467494 |  |
| 4159 | &nbsp;&nbsp;&nbsp;&nbsp; Marsh & McLennan Companies, Inc. | 727451 |  |
| 15146 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company | 709893 |  |
|  |  | 4802268 |  |
|  | ***Health Care (14.6%)*** |  |  |
| 10987 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Scientific Corp.# | 508149 |  |
| 10418 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company | 756868 |  |
| 2933 | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 775426 |  |
| 4596 | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.# | 492186 |  |
| 2758 | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 949166 |  |
| 2724 | &nbsp;&nbsp;&nbsp;&nbsp; IQVIA Holdings, Inc.# | 624913 |  |
| 2714 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Pharmaceuticals, PLC# | 425175 |  |
| 2145 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 1070762 |  |
| 4202 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc. | 695389 |  |
|  |  | 6298034 |  |
|  | ***Industrials (9.1%)*** |  |  |
| 11513 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp. - Class A | 517739 |  |
| 31517 | &nbsp;&nbsp;&nbsp;&nbsp; CSX Corp. | 974506 |  |
| 2758 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc. | 574988 |  |
| 8230 | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | 821765 |  |
| 18385 | &nbsp;&nbsp;&nbsp;&nbsp; Uber Technologies, Inc.# | 568648 |  |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** | |
| 3064 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. | $474093 |  |
|  |  | 3931739 |  |
|  | ***Information Technology (24.1%)*** | ***Information Technology (24.1%)*** | **** |
| 2495 | &nbsp;&nbsp;&nbsp;&nbsp; Analog Devices, Inc. | 427818 |  |
| 18823 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 2715971 |  |
| 963 | &nbsp;&nbsp;&nbsp;&nbsp; Broadcom, Inc. | 563365 |  |
| 1701 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 718962 |  |
| 9455 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 2343043 |  |
| 5428 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 1060468 |  |
| 9085 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 803659 |  |
| 1182 | &nbsp;&nbsp;&nbsp;&nbsp; Paycom Software, Inc.# | 382897 |  |
| 1663 | &nbsp;&nbsp;&nbsp;&nbsp; Snowflake, Inc. - Class A# | 260160 |  |
| 4815 | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ | 1108461 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;10384804 |  |
|  | ***Materials (1.7%)*** |  |  |
| 2145 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC | 709866 |  |
|  | ***Real Estate (1.3%)*** |  |  |
| 4401 | &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 568961 |  |
|  | ***Utilities (2.8%)*** |  |  |
| 5910 | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Corp. | 605480 |  |
| 7923 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. | 591293 |  |
|  |  | 1196773 |  |
|  | **TOTAL COMMON STOCKS**<br> (Cost $32,215,719) | 42024241 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (97.5%)**<br> (Cost $32,215,719) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (97.5%)**<br> (Cost $32,215,719) | 42024241 |  |
| OTHER ASSETS, LESS LIABILITIES (2.5%) | OTHER ASSETS, LESS LIABILITIES (2.5%) | 1076683 |  |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $43100924 |  |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** Non-income producing security. 

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos International Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | |
| **COMMON STOCKS (98.4%)** | **COMMON STOCKS (98.4%)** | **COMMON STOCKS (98.4%)** | **COMMON STOCKS (98.4%)** |  |
|  |  | ***Communication Services (3.1%)*** | ***Communication Services (3.1%)*** | **** |
| 134900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom, AG | $3005410 |  |
| 35000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; IPSOS | 2268265 |  |
| 142570 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Pearson, PLC | 1625894 |  |
|  |  |  | 6899569 |  |
|  |  | ***Consumer Discretionary (24.6%)*** | ***Consumer Discretionary (24.6%)*** | **** |
| 153500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd.# | 2110419 |  |
| 23085 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC#~ | 2610683 |  |
| 21300 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Brunello Cucinelli S.p.A | 1774088 |  |
| 70900 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Compass Group, PLC | 1693659 |  |
| 15000 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Evolution, AB\* | 1685866 |  |
| 13640 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Flutter Entertainment, PLC# | 2116326 |  |
| 229000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Galaxy Entertainment Group, Ltd.# | 1594137 |  |
| 158359 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; JD.com, Inc. - Class A | 4702209 |  |
| 43900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kyoritsu Maintenance Company, Ltd.^ | 2005086 |  |
| 201500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Li Ning Company, Ltd. | 1991961 |  |
| 11095 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis Vuitton, SE | 9685664 |  |
| 110200 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra, Ltd. | 1860409 |  |
| 4504 |  | &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.# | 5322332 |  |
| 30300 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Moncler S.p.A | 1896406 |  |
| 9900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Oriental Land Company, Ltd.^ | 1649536 |  |
| 44720 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Prosus, NV# | 3610927 |  |
| 15900 |  | &nbsp;&nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc.^ | 1064187 |  |
| 1016400 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Samsonite International, SA#~\* | 3027841 |  |
| 631200 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Sands China, Ltd.# | 2367054 |  |
| 26500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp. | 2367816 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;55136606 |  |
|  |  | ***Consumer Staples (5.6%)*** | ***Consumer Staples (5.6%)*** | **** |
| 25920 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Diageo, PLC | 1133380 |  |
| 184600 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; Hypera, SA | 1687339 |  |
| 11500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kose Corp. | 1268828 |  |
| 3900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; L'Oreal, SA | 1610355 |  |
| 13360 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Nestle, SA | 1630041 |  |
| 39900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Seven & i Holdings Company, Ltd. | 1883795 |  |
| 9460000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Sumber Alfaria Trijaya, Tbk PT | 1788245 |  |
| 159800 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; Treasury Wine Estates, Ltd.^ | 1646064 |  |
|  |  |  | 12648047 |  |
|  |  | ***Energy (3.2%)*** | ***Energy (3.2%)*** | **** |
| 70100 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Natural Resources, Ltd.^ | 4302782 |  |
| 19800 |  | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. | 1128204 |  |
| 130000 |  | &nbsp;&nbsp;&nbsp;&nbsp; TechnipFMC, PLC# | 1805700 |  |
|  |  |  | 7236686 |  |
|  |  | ***Financials (14.3%)*** | ***Financials (14.3%)*** | **** |
| 550200 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 6221466 |  |
| 6600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aon, PLC - Class A | 2103288 |  |
| 2720600 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Bank Mandiri Persero, Tbk PT | 1812834 |  |
| 398350 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group, PLC | 4255909 |  |
| 315500 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Beazley, PLC | 2596375 |  |
| 81100 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; DBS Group Holdings, Ltd. | 2220216 |  |
| 14600 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Böerse, AG | 2612557 |  |
| 84200 | INR | &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 1659317 |  |
| 81590 |  | &nbsp;&nbsp;&nbsp;&nbsp; ICICI Bank, Ltd. (ADR) | 1699520 |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | **VALUE** | |
| 14600 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; London Stock Exchange Group, PLC | $| 1336555 |  |
| 77000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. |  | 3346502 |  |
| 109070 |  | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG#^ |  | 2340642 |  |
|  |  |  |  | 32205181 |  |
|  |  | ***Health Care (8.6%)*** |  |  |  |
| 27500 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca, PLC |  | 3602843 |  |
| 7055 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; CSL, Ltd. |  | 1489666 |  |
| 16000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Daiichi Sankyo Company, Ltd. |  | 502511 |  |
| 7790 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Lonza Group, AG |  | 4443738 |  |
| 66518 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk, A/S - Class B |  | 9205410 |  |
|  |  |  |  | 19244168 |  |
|  |  | ***Industrials (17.1%)*** |  |  |  |
| 19550 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Airbus, SE |  | 2450902 |  |
| 100700 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; ANA Holdings, Inc.# |  | 2228768 |  |
| 36825 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANDRITZ, AG |  | 2202191 |  |
| 44100 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Group, PLC |  | 2904813 |  |
| 2700 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Burckhardt Compression Holding, AG |  | 1671691 |  |
| 39250 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway, Ltd. |  | 3097993 |  |
| 15750 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; DO & CO, AG# |  | 1667935 |  |
| 10080 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; DSV, A/S |  | 1667535 |  |
| 62820 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics, Ltd. |  | 1972621 |  |
| 14167 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Krones, AG |  | 1654189 |  |
| 212301 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Munters Group, AB\* |  | 2035565 |  |
| 41900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Prysmian S.p.A |  | 1711098 |  |
| 21775 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric, SE |  | 3532244 |  |
| 37100 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Siemens, Ltd. |  | 1339645 |  |
| 290000 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; Singapore Airlines, Ltd.#^ |  | 1311341 |  |
| 140500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Techtronic Industries Company, Ltd. |  | 1811295 |  |
| 31860 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Vinci, SA |  | 3599847 |  |
| 20300 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Visional, Inc.# |  | 1470907 |  |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;38330580 |  |
|  |  | ***Information Technology (16.2%)*** | ***Information Technology (16.2%)*** | ***Information Technology (16.2%)*** | **** |
| 1580 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Adyen, NV#\* |  | 2388813 |  |
| 14160 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, NV |  | 9368931 |  |
| 12100 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Keyence Corp. |  | 5570462 |  |
| 627000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Kingdee International Software Group Company, Ltd.# |  | 1368434 |  |
| 8300 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Lasertec Corp.^ |  | 1571380 |  |
| 35500 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Company, Ltd. |  | 1768263 |  |
| 13500 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; SAP, SE |  | 1600290 |  |
| 7600 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; SHIFT, Inc.#^ |  | 1418430 |  |
| 41300 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Shopify, Inc. - Class A# |  | 2035279 |  |
| 333000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Company, Ltd. |  | 5876378 |  |
| 335800 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; TOTVS, SA |  | 1989147 |  |
| 670000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Travelsky Technology, Ltd. - Class H |  | 1392631 |  |
|  |  |  |  | 36348438 |  |
|  |  | ***Materials (5.0%)*** |  |  |  |
| 330354 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cemex, SAB de CV# |  | 1764090 |  |
| 639000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Glencore, PLC# |  | 4279308 |  |
| 6495 |  | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC |  | 2149455 |  |
| 81500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. |  | 1696400 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos International Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | |
| 45000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; OSAKA Titanium Technologies Company, Ltd. | $1276849 |  |
|  |  |  | 11166102 |  |
|  |  | ***Special Purpose Acquisition Company (0.7%)*** | ***Special Purpose Acquisition Company (0.7%)*** | **** |
| 56000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Shell, PLC | 1642377 |  |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $185,637,728) | &nbsp;&nbsp;&nbsp;&nbsp;220857754 |  |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** |  |  | **VALUE** |  |
| **PURCHASED OPTIONS (1.1%) #** | **PURCHASED OPTIONS (1.1%) #** | **PURCHASED OPTIONS (1.1%) #** | **PURCHASED OPTIONS (1.1%) #** |  |
|  |  | ***Consumer Discretionary (0.2%)*** | ***Consumer Discretionary (0.2%)*** | **** |
| 202 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd. |  |  |
| 2226040 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $100.00 | 380265 |  |
|  |  | ***Energy (0.1%)*** |  |  |
| 333 |  | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. |  |  |
| 1897434 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $47.50 | 318015 |  |
|  |  | ***Other (0.8%)*** |  |  |
| 192 |  | &nbsp;&nbsp;&nbsp;&nbsp; Baidu, Inc. |  |  |
| 2585856 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $135.00 | 186240 |  |
| 3775 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; EURO STOXX Banks Index |  |  |
| 20975788 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike 112.50 | 779759 |  |
| 275 |  | &nbsp;&nbsp;&nbsp;&nbsp; Netease, Inc. |  |  |
| 2436775 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $75.00 | 488125 |  |
| 307 |  | &nbsp;&nbsp;&nbsp;&nbsp; Rio Tinto, PLC |  |  |
| 2720941 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 04/21/23, Strike $70.00 | 311605 |  |
|  |  |  | 1765729 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PURCHASED OPTIONS**<br> (Cost $1,636,995) | 2464009 |  |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  |  | **VALUE** |  |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.4%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.4%)** |  |
| 7581603 |  | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%†<br> (Cost $7,581,603) | 7581603 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.9%)**<br> (Cost $194,856,326) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.9%)**<br> (Cost $194,856,326) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.9%)**<br> (Cost $194,856,326) | 230903366 |  |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.4%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.4%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.4%) | (7581603) |  |
| OTHER ASSETS, LESS LIABILITIES (0.5%) | OTHER ASSETS, LESS LIABILITIES (0.5%) | OTHER ASSETS, LESS LIABILITIES (0.5%) | 1178112 |  |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $224499875 |  |

---

**FORWARD FOREIGN CURRENCY CONTRACTS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **COUNTERPARTY** | **LONG**<br> **CONTRACTS** | **SETTLEMENT**<br> **DATE** | **LOCAL**<br> **CURRENCY** | **CURRENT**<br> **VALUE** | **UNREALIZED**<br> **GAIN/LOSS** |
| Northern Trust Company | Swiss Franc | 03/31/23 | 4450000 | $4890890 | $48038 |
| State Street Bank and Trust | Japanese Yen | 03/31/23 | 586600000 | 4542271 | 59294 |
| State Street Bank and Trust | Japanese Yen | 03/31/23 | 506700000 | 3923574 | 51218 |
| Northern Trust Company | Swiss Franc | 03/31/23 | 2400000 | 2637784 | 25908 |
|  |  |  |  |  | $184458 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** 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 $1,570,465.  |

---

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **AUD** | Australian Dollar |
| **BRL** | Brazilian Real |
| **CAD** | Canadian Dollar |
| **CHF** | Swiss Franc |
| **DKK** | Danish Krone |
| **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 |
| **SEK** | Swedish Krona |
| **SGD** | Singapore Dollar |
| **TWD** | New Taiwan Dollar |

---

*Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. 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 International Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**CURRENCY EXPOSURE JANUARY 31, 2023** 

---

| | | |
|:---|:---|:---|
| | **Value** | **% of Total**<br> **Investments** |
|  European Monetary Unit | $63318157 | 27.4% |
|  US Dollar | 31253954 | 13.5% |
|  Japanese Yen | 28257270 | 12.2% |
|  Hong Kong Dollar | 26587447 | 11.5% |
|  British Pound Sterling | 21289153 | 9.2% |
|  Danish Krone | 10872945 | 4.7% |
|  Canadian Dollar | 9436054 | 4.1% |
|  Swiss Franc | 7745470 | 3.4% |
|  Indian Rupee | 6831992 | 3.0% |
|  New Taiwan Dollar | 5876378 | 2.5% |
|  Swedish Krona | 3721431 | 1.6% |
|  Brazilian Real | 3676486 | 1.6% |
|  Indonesian Rupiah | 3601079 | 1.6% |
|  Singapore Dollar | 3531557 | 1.5% |
|  Australian Dollar | 3135730 | 1.4% |
|  South Korean Won | 1768263 | 0.8% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230903366 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Evolving World Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | | **VALUE** |
| **CONVERTIBLE BONDS (7.0%)** | **CONVERTIBLE BONDS (7.0%)** | **CONVERTIBLE BONDS (7.0%)** | **CONVERTIBLE BONDS (7.0%)** |
|  |  | ***Consumer Discretionary (1.4%)*** |  |
| 1960000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Li Auto, Inc.<br> 0.250%, 05/01/28 | $2231245 |
| 26000000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings, Ltd.<br> 0.000%, 05/21/25 | 3941141 |
|  |  |  | 6172386 |
|  |  | ***Industrials (2.1%)*** |  |
| 5750000 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; Singapore Airlines, Ltd.<br> 1.625%, 12/03/25 | 4891264 |
| 3815000 |  | &nbsp;&nbsp;&nbsp;&nbsp; ZTO Express Cayman, Inc.\*<br> 1.500%, 09/01/27 | 4248727 |
|  |  |  | 9139991 |
|  |  | ***Materials (2.0%)*** |  |
| 7600000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Glencore Funding, LLC<br> 0.000%, 03/27/25 | 8805664 |
|  |  | ***Real Estate (1.5%)*** |  |
| 4700000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd.<br> 0.000%, 02/05/25 | 6486492 |
|  |  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $28,809,734) | 30604533 |
| **NUMBER OF**<br> **SHARES** |  |  | **VALUE** |
| **COMMON STOCKS (91.1%)** | **COMMON STOCKS (91.1%)** | **COMMON STOCKS (91.1%)** | **COMMON STOCKS (91.1%)** |
|  |  | ***Communication Services (4.2%)*** |  |
| 375300 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings, Ltd. | 18287960 |
|  |  | ***Consumer Discretionary (23.4%)*** |  |
| 678400 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd.# | 9327091 |
| 502371 |  | &nbsp;&nbsp;&nbsp;&nbsp; Arcos Dorados Holdings, Inc. - Class A~ | 4270154 |
| 25739100 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; Bloomberry Resorts Corp.# | 4354423 |
| 74940 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; BYD Company, Ltd. - Class A | 3201046 |
| 146601 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; China Tourism Group Duty Free Corp., Ltd. - Class A | 4641929 |
| 198400 |  | &nbsp;&nbsp;&nbsp;&nbsp; Coupang, Inc.# | 3350976 |
| 424000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Galaxy Entertainment Group, Ltd.# | 2951590 |
| 335221 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; JD.com, Inc. - Class A | 9953835 |
| 1306000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Jiumaojiu International Holdings, Ltd.\* | 3346208 |
| 879100 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Li Ning Company, Ltd. | 8690487 |
| 250400 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Mahindra & Mahindra, Ltd. | 4227281 |
| 214130 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Meituan - Class B\*# | 4787064 |
| 7980 |  | &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.#~ | 9429886 |
| 700600 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; New Oriental Education & Technology Group, Inc.# | 2973920 |
| 74050 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Prosus, NV# | 5979184 |
| 3161100 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Samsonite International, SA\*# | 9416870 |
| 1854800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Sands China, Ltd.# | 6955658 |
| 74000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Yum China Holdings, Inc. | 4483509 |
|  |  |  | 102341111 |
|  |  | ***Consumer Staples (7.3%)*** |  |
| 56000 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Britannia Industries, Ltd. | 2964697 |
| 59900 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Unilever, Ltd. | 1889794 |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** |
| 17700 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Kweichow Moutai Company, Ltd. - Class A | $4852807 |
| 133700 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Proya Cosmetics Company, Ltd. - Class A | 3271904 |
| 636000 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; Raia Drogasil, SA | 3110904 |
| 22219000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Sumber Alfaria Trijaya, Tbk PT | 4200108 |
| 390000 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; Universal Robina Corp. | 985214 |
| 283816 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Varun Beverages, Ltd. | 3998892 |
| 928500 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; Wal-Mart de Mexico, SAB de CV | 3626626 |
| 869000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Yihai International Holding, Ltd.# | 3092301 |
|  |  |  | 31993247 |
|  |  | ***Energy (5.0%)*** |  |
| 24700 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 4298294 |
| 240700 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Motor Oil Hellas Corinth Refineries, SA | 5882176 |
| 793400 | THB | &nbsp;&nbsp;&nbsp;&nbsp; PTT Exploration & Production, PCL | 4116874 |
| 265960 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Reliance Industries, Ltd. | 7681377 |
|  |  |  | 21978721 |
|  |  | ***Financials (17.0%)*** |  |
| 670800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 7585168 |
| 117000 | SAR | &nbsp;&nbsp;&nbsp;&nbsp; Al Rajhi Bank# | 2568296 |
| 1193000 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; B3, SA - Brasil Bolsa Balcao | 3045777 |
| 8830500 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Bank Central Asia, Tbk PT | 5011388 |
| 5466000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Bank Mandiri Persero, Tbk PT | 3642193 |
| 2063500 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; Bank of the Philippine Islands | 3973280 |
| 630191 | AED | &nbsp;&nbsp;&nbsp;&nbsp; First Abu Dhabi Bank, PJSC | 2337619 |
| 1001700 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp; FirstRand, Ltd. | 3721914 |
| 533200 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Banorte, SAB de CV - Class O | 4417259 |
| 219900 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | 8736014 |
| 325400 | INR | &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 6412611 |
| 115400 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Housing Development Finance Corp., Ltd. | 3723360 |
| 221025 |  | &nbsp;&nbsp;&nbsp;&nbsp; ICICI Bank, Ltd. (ADR) | 4603951 |
| 819370 |  | &nbsp;&nbsp;&nbsp;&nbsp; Itau Unibanco Holding, SA (ADR) | 4080463 |
| 779700 | THB | &nbsp;&nbsp;&nbsp;&nbsp; Kasikornbank PCL | 3426025 |
| 923000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Ping An Insurance Group Company of China, Ltd. - Class H | 7169589 |
|  |  |  | 74454907 |
|  |  | ***Health Care (3.5%)*** |  |
| 481500 | THB | &nbsp;&nbsp;&nbsp;&nbsp; Bumrungrad Hospital PCL | 3165268 |
| 743600 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; Hypera, SA | 6796888 |
| 664500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Wuxi Biologics Cayman, Inc.\*# | 5548841 |
|  |  |  | 15510997 |
|  |  | ***Industrials (8.2%)*** |  |
| 2023400 | THB | &nbsp;&nbsp;&nbsp;&nbsp; Airports of Thailand PCL# | 4551271 |
| 345000 | TRY | &nbsp;&nbsp;&nbsp;&nbsp; Aselsan Elektronik Sanayi Ve Ticaret, A/S | 1043881 |
| 40200 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Company, Ltd. - Class A | 2788496 |
| 183000 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; Grupo Aeroportuario del Pacifico, SAB de CV - Class B | 3151928 |
| 150500 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics, Ltd. | 4725875 |
| 266500 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; International Container Terminal Services, Inc. | 1013110 |
| 77100 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Larsen & Toubro, Ltd. | 2003839 |
| 340328 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Ningbo Orient Wires & Cables Company, Ltd. - Class A | 3246446 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Evolving World Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** | **VALUE** |
| 339705 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Shanghai International Airport Company, Ltd. - Class A# | $| 3051830 |
| 78100 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Siemens, Ltd. |  | 2820116 |
| 283500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Techtronic Industries Company, Ltd. |  | 3654820 |
| 1291909 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; YTO Express Group Company, Ltd. - Class A |  | 4022324 |
|  |  |  |  | 36073936 |
|  |  | ***Information Technology (17.4%)*** |  |  |
| 20300 | SAR | &nbsp;&nbsp;&nbsp;&nbsp; Elm Company |  | 1935307 |
| 1940000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Kingdee International Software Group Company, Ltd.# |  | 4234070 |
| 107000 | INR | &nbsp;&nbsp;&nbsp;&nbsp; KPIT Technologies, Ltd. |  | 997889 |
| 146000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; MediaTek, Inc. |  | 3527500 |
| 281800 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Samsung Electronics Company, Ltd. |  | 14036522 |
| 57000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; Silergy Corp. |  | 1159919 |
| 40700 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; SK Hynix, Inc. |  | 2944394 |
| 2053649 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Company, Ltd. |  | 36240295 |
| 558500 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; TOTVS, SA |  | 3308334 |
| 2079000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; TravelSky Technology, Ltd. - |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Class H |  | 4321313 |
| 812229 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Venustech Group, Inc. - Class A |  | 3595312 |
|  |  |  |  | 76300855 |
|  |  | ***Materials (3.1%)*** |  |  |
| 1037000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cemex, SAB de CV#^ |  | 5537580 |
| 100000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 4462000 |
| 2110000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Zijin Mining Group Company Ltd.- Class H |  | 3490047 |
|  |  |  |  | 13489627 |
|  |  | ***Real Estate (2.0%)*** |  |  |
| 5683400 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; Ayala Land, Inc. |  | 3065409 |
| 1133500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; China Overseas Land & Investment, Ltd. |  | 3060756 |
| 618200 | INR | &nbsp;&nbsp;&nbsp;&nbsp; DLF, Ltd. |  | 2701176 |
|  |  |  |  | 8827341 |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $358,165,477) |  | 399258702 |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** |  |  | **VALUE** | **VALUE** |
| **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** | **PURCHASED OPTIONS (1.6%) #** |
|  |  | ***Consumer Discretionary (0.4%)*** |  |  |
| 375 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alibaba Group Holding, Ltd. |  |  |
| 4132500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $100.00 |  | 705938 |
| 485 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pinduoduo, Inc. |  |  |
| 4752030 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $80.00 |  | 976062 |
|  |  |  |  | 1682000 |
|  |  | ***Energy (0.2%)*** |  |  |
| 740 |  | &nbsp;&nbsp;&nbsp;&nbsp; Schlumberger, Ltd. |  |  |
| 4216520 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 02/17/23, Strike $47.50 |  | 706700 |
|  |  | ***Other (1.0%)*** |  |  |
| 355 |  | &nbsp;&nbsp;&nbsp;&nbsp; Baidu, Inc. |  |  |
| 4781140 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 03/17/23, Strike $135.00 |  | 344350 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** | | **VALUE** |
| 5175 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI South Korea ETF |  |
| 32845725 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 04/21/23, Strike $64.00 | $1436063 |
| 4930 | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI Taiwan ETF |  |
| 22091330 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $44.81 | 1368075 |
| 480 | &nbsp;&nbsp;&nbsp;&nbsp; Netease, Inc. |  |
| 4253280 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $75.00 | 852000 |
| 2412 | &nbsp;&nbsp;&nbsp;&nbsp; Vale, SA |  |
| 4505616 | &nbsp;&nbsp;&nbsp;&nbsp; Call, 06/16/23, Strike $17.00 | 599382 |
|  |  | 4599870 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL PURCHASED OPTIONS**<br> (Cost $4,946,803) | 6988570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (99.7%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (99.7%)** |  |
| (Cost $391,922,014) | (Cost $391,922,014) | 436851805 |
| OTHER ASSETS, LESS LIABILITIES (0.3%) | OTHER ASSETS, LESS LIABILITIES (0.3%) | 1525069 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $438376874 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

**#** Non-income producing security. 

---

| | |
|:---|:---|
| **~** | Security, or portion of security, is segregated as collateral for written options. The aggregate value of such securities is $4,866,112.  |

---

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **AED** | UAE Dirham |
| **BRL** | Brazilian Real |
| **CNY** | Chinese Yuan Renminbi |
| **EUR** | European Monetary Unit |
| **HKD** | Hong Kong Dollar |
| **IDR** | Indonesian Rupiah |
| **INR** | Indian Rupee |
| **KRW** | South Korean Won |
| **MXN** | Mexican Peso |
| **PHP** | Philippine Peso |
| **SAR** | Saudi Riyal |
| **SGD** | Singapore Dollar |
| **THB** | Thai Baht |
| **TRY** | Turkish Lira |
| **TWD** | New Taiwan Dollar |
| **ZAR** | South African Rand |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Evolving World Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**CURRENCY EXPOSURE JANUARY 31, 2023** 

---

| | | |
|:---|:---|:---|
| | **Value** | **% of Total**<br> **Investments** |
|  Hong Kong Dollar | $127272238 | 29.1% |
|  US Dollar | 62307510 | 14.3% |
|  Indian Rupee | 44146907 | 10.1% |
|  New Taiwan Dollar | 40927714 | 9.4% |
|  Chinese Yuan Renminbi | 32672094 | 7.5% |
|  South Korean Won | 25716930 | 5.9% |
|  European Monetary Unit | 18347852 | 4.2% |
|  Brazilian Real | 16261903 | 3.7% |
|  Thai Baht | 15259438 | 3.5% |
|  Philippine Peso | 13391436 | 3.1% |
|  Indonesian Rupiah | 12853689 | 2.9% |
|  Mexican Peso | 11195813 | 2.6% |
|  Singapore Dollar | 4891264 | 1.1% |
|  Saudi Riyal | 4503603 | 1.0% |
|  South African Rand | 3721914 | 0.9% |
|  UAE Dirham | 2337619 | 0.5% |
|  Turkish Lira | 1043881 | 0.2% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436851805 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** | **VALUE** |
| **COMMON STOCKS (97.7%)** | **COMMON STOCKS (97.7%)** | **COMMON STOCKS (97.7%)** | **COMMON STOCKS (97.7%)** |  |
|  |  | ***Communication Services (4.2%)*** |  |  |
| 13600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A# | $1344224 |  |
| 29900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Telekom, AG | 666136 |  |
| 26100 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings, Ltd. | 1271825 |  |
|  |  |  | 3282185 |  |
|  |  | ***Consumer Discretionary (15.1%)*** | ***Consumer Discretionary (15.1%)*** | **** |
| 21020 |  | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.#~ | 2167793 |  |
| 9615 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC# | 1087360 |  |
| 450 |  | &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.# | 1097483 |  |
| 43216 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; JD.com, Inc. - Class A | 1283228 |  |
| 2010 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis<br> Vuitton, SE | 1754681 |  |
| 2610 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Meituan - Class B#\* | 58349 |  |
| 870 |  | &nbsp;&nbsp;&nbsp;&nbsp; MercadoLibre, Inc.# | 1028070 |  |
| 10900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Moncler S.p.A | 682205 |  |
| 17700 |  | &nbsp;&nbsp;&nbsp;&nbsp; On Holding, AG - Class A# | 410640 |  |
| 5600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Restaurant Brands International, Inc. | 374808 |  |
| 309600 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Samsonite International, SA#\* | 922294 |  |
| 222400 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Sands China, Ltd.# | 834019 |  |
|  |  |  | 11700930 |  |
|  |  | ***Consumer Staples (2.3%)*** | ***Consumer Staples (2.3%)*** | **** |
| 1160 |  | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 592922 |  |
| 9430 |  | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. | 738935 |  |
| 2140000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Sumber Alfaria Trijaya, Tbk PT | 404529 |  |
|  |  |  | 1736386 |  |
|  |  | ***Energy (8.4%)*** | ***Energy (8.4%)*** | **** |
| 22300 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Natural Resources, Ltd.^ | 1368788 |  |
| 10500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 1827210 |  |
| 4600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Diamondback Energy, Inc. | 672152 |  |
| 11000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc. | 532840 |  |
| 5760 |  | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 740275 |  |
| 2950 |  | &nbsp;&nbsp;&nbsp;&nbsp; Pioneer Natural Resources Company | 679533 |  |
| 46200 |  | &nbsp;&nbsp;&nbsp;&nbsp; TechnipFMC, PLC# | 641718 |  |
|  |  |  | 6462516 |  |
|  |  | ***Financials (14.5%)*** | ***Financials (14.5%)*** | **** |
| 172800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 1953961 |  |
| 2430 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aon, PLC - Class A | 774392 |  |
| 586000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Bank Mandiri Persero, Tbk PT | 390473 |  |
| 27125 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 962395 |  |
| 75900 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group, PLC | 810904 |  |
| 3100 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Deutsche Böerse, AG | 554721 |  |
| 52990 | INR | &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 1044266 |  |
| 5160 |  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company | 722194 |  |
| 10800 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 1051164 |  |
| 18100 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 786645 |  |
| 63400 |  | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG#^ | 1360564 |  |
| 17100 |  | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company | 801477 |  |
|  |  |  | 11213156 |  |
|  |  | ***Health Care (11.7%)*** | ***Health Care (11.7%)*** | **** |
| 6770 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca, PLC | 886954 |  |
| 2150 |  | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 568417 |  |
| 6115 |  | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 2104477 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** | **VALUE** |
| 2210 |  | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | $| 1130857 |
| 1860 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Lonza Group, AG |  | 1061021 |
| 16130 |  | &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk, A/S |  | 2238521 |
| 2129 |  | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. |  | 1062776 |
|  |  |  |  | 9053023 |
|  |  | ***Industrials (14.6%)*** |  |  |
| 18200 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Group, PLC |  | 1198812 |
| 13410 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway, Ltd.^ |  | 1058448 |
| 3900 |  | &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group, Inc. |  | 578175 |
| 17800 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics, Ltd. |  | 558941 |
| 73700 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Munters Group, AB\* |  | 706643 |
| 14700 |  | &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  | 2237193 |
| 11300 |  | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. |  | 1128305 |
| 4310 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Safran, SA |  | 619759 |
| 7500 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric, SE |  | 1216617 |
| 2340 |  | &nbsp;&nbsp;&nbsp;&nbsp; Valmont Industries, Inc. |  | 771568 |
| 6500 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Vinci, SA |  | 734432 |
| 3340 |  | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. |  | 516798 |
|  |  |  |  | 11325691 |
|  |  | ***Information Technology (22.9%)*** |  |  |
| 2750 |  | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A |  | 767387 |
| 559 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Adyen, NV#\* |  | 845156 |
| 16100 |  | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 2323069 |
| 4828 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, NV |  | 3194435 |
| 2310 |  | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. |  | 976368 |
| 3500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Keyence Corp. |  | 1611291 |
| 6500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.~ |  | 1610765 |
| 4830 |  | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 943637 |
| 13000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. |  | 1149980 |
| 5720 |  | &nbsp;&nbsp;&nbsp;&nbsp; Snowflake, Inc. - Class A# |  | 894837 |
| 95000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor<br> Manufacturing Company, Ltd. |  | 1676444 |
| 9500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor<br> Manufacturing Company, Ltd. (ADR) |  | 880935 |
| 3620 |  | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ |  | 833360 |
|  |  |  |  | 17707664 |
|  |  | ***Materials (4.0%)*** |  |  |
| 148100 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cemex, SAB de CV# |  | 790854 |
| 19500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. |  | 870090 |
| 125550 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Glencore, PLC# |  | 840793 |
| 27700 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. |  | 576568 |
|  |  |  |  | 3078305 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS**<br> (Cost $52,100,802) |  | 75559856 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  |  | **VALUE** | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (4.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (4.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (4.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (4.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (4.9%)** |
| 3818138 |  | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.29%† (Cost $3,818,138) |  | 3818138 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** | | **VALUE** |
| **PURCHASED OPTION (0.0%) #** | **PURCHASED OPTION (0.0%) #** | **PURCHASED OPTION (0.0%) #** |
|  | ***Other (0.0%)*** |  |
| 367 | Energy Select Sector SPDR Fund |  |
| 3300431 | Put, 02/17/23, Strike $78.00<br> (Cost $126,879) | 4955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.6%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.6%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $56,045,819) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $56,045,819) | 79382949 |
| PAYABLE UPON RETURN OF SECURITIES ON LOAN<br>(-4.9%) | PAYABLE UPON RETURN OF SECURITIES ON LOAN<br>(-4.9%) | (3818138) |
| OTHER ASSETS, LESS LIABILITIES (2.3%) | OTHER ASSETS, LESS LIABILITIES (2.3%) | 1815453 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $77380264 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

**#** 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 $681,993.  |

---

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

---

| | |
|:---|:---|
| **FOREIGN CURRENCY ABBREVIATIONS** | **FOREIGN CURRENCY ABBREVIATIONS** |
| **CAD** | Canadian Dollar |
| **CHF** | Swiss Franc |
| **EUR** | European Monetary Unit |
| **GBP** | British Pound Sterling |
| **HKD** | Hong Kong Dollar |
| **IDR** | Indonesian Rupiah |
| **INR** | Indian Rupee |
| **JPY** | Japanese Yen |
| **SEK** | Swedish Krona |
| **TWD** | New Taiwan Dollar |

---

*Note: Value for securities denominated in foreign currencies is shown in U.S. dollars. 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 Global Equity Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**CURRENCY EXPOSURE JANUARY 31, 2023** 

---

| | | |
|:---|:---|:---|
| | **Value** | **% of Total**<br> **Investments** |
|  US Dollar | $47809611 | 60.2% |
|  European Monetary Unit | 11079046 | 14.0% |
|  Hong Kong Dollar | 6323676 | 8.0% |
|  Japanese Yen | 2974504 | 3.7% |
|  British Pound Sterling | 2926559 | 3.7% |
|  Canadian Dollar | 2427236 | 3.1% |
|  New Taiwan Dollar | 1676444 | 2.1% |
|  Indian Rupee | 1603207 | 2.0% |
|  Swiss Franc | 1061021 | 1.3% |
|  Indonesian Rupiah | 795002 | 1.0% |
|  Swedish Krona | 706643 | 0.9% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;79382949 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | | **VALUE** |
| **CONVERTIBLE BONDS (24.2%)** | **CONVERTIBLE BONDS (24.2%)** | **CONVERTIBLE BONDS (24.2%)** | **CONVERTIBLE BONDS (24.2%)** |
|  |  | ***Communication Services (1.1%)*** |  |
| 2291000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Media Corp.\* |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/27 | $2409743 |
|  |  | ***Consumer Discretionary (2.9%)*** |  |
| 1748000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Burlington Stores, Inc.<br> 2.250%, 04/15/25 | 2166803 |
| 220000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kyoritsu Maintenance Company, Ltd.<br> 0.000%, 01/29/26 | 2242068 |
| 14000000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Zhongsheng Group Holdings, Ltd.<br> 0.000%, 05/21/25 | 2122153 |
|  |  |  | 6531024 |
|  |  | ***Consumer Staples (1.6%)*** |  |
| 3165000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.\*<br> 2.500%, 08/15/27 | 3453680 |
|  |  | ***Energy (1.1%)*** |  |
| 1013000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Northern Oil And Gas, Inc.\* 3.625%, 04/15/29 | 1157626 |
| 800000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Transocean, Inc.<br> 4.000%, 12/15/25 | 1232888 |
|  |  |  | 2390514 |
|  |  | ***Financials (1.0%)*** |  |
| 2200000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Finance, LLC<br> 1.000%, 11/23/27 | 2323750 |
|  |  | ***Health Care (1.6%)*** |  |
| 559000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals, Inc.\* 1.000%, 09/15/27 | 598018 |
| 1113000 |  | &nbsp;&nbsp;&nbsp;&nbsp; BioMarin Pharmaceutical, Inc.^ 0.599%, 08/01/24 | 1229743 |
| 1585000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Dexcom, Inc.^<br> 0.250%, 11/15/25 | 1670986 |
|  |  |  | 3498747 |
|  |  | ***Industrials (4.9%)*** |  |
| 220000000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; ANA Holdings, Inc.<br> 0.000%, 12/10/31 | 1843663 |
| 1000000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Duerr, AG<br> 0.750%, 01/15/26 | 1278217 |
| 2270000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Parsons Corp.<br> 0.250%, 08/15/25 | 2484787 |
| 2400000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Prysmian S.p.A<br> 0.000%, 02/02/26 | 2782618 |
| 3000000 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; Singapore Airlines, Ltd. 1.625%, 12/03/25 | 2551964 |
|  |  |  | 10941249 |
|  |  | ***Information Technology (4.8%)*** |  |
| 4668000 |  | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.<br> 0.000%, 11/15/24 | 5144696 |
| 1932000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Datadog, Inc.<br> 0.125%, 06/15/25 | 2119674 |
| 8000000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Kingsoft Corp, Ltd.<br> 0.625%, 04/29/25 | 1106379 |
| 2034000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Shift4 Payments, Inc.<br> 0.000%, 12/15/25 | 2177946 |
|  |  |  | 10548695 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | | **VALUE** | **VALUE** |
|  |  | ***Materials (3.3%)*** |  |  |
| 5800000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Glencore Funding, LLC<br> 0.000%, 03/27/25 | $| 6720112 |
| 480000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ivanhoe Mines, Ltd.\*<br> 2.500%, 04/15/26 |  | 665203 |
|  |  |  |  | 7385315 |
|  |  | ***Other (0.8%)*** |  |  |
| 2650000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Edenred<br> 0.000%, 09/06/24 |  | 1752884 |
|  |  | ***Real Estate (1.1%)*** |  |  |
| 1700000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ANLLIAN Capital, Ltd.<br> 0.000%, 02/05/25 |  | 2346178 |
|  |  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $51,292,103) |  | 53581779 |
| **NUMBER OF**<br> **SHARES** |  |  | **VALUE** | **VALUE** |
| **CONVERTIBLE PREFERRED STOCKS (2.2%)** | **CONVERTIBLE PREFERRED STOCKS (2.2%)** | **CONVERTIBLE PREFERRED STOCKS (2.2%)** | **CONVERTIBLE PREFERRED STOCKS (2.2%)** | **CONVERTIBLE PREFERRED STOCKS (2.2%)** |
|  |  | ***Consumer Discretionary (1.1%)*** |  |  |
| 19622 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC<br> 5.500%, 06/15/23 |  | 2472176 |
|  |  | ***Utilities (1.1%)*** |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy, Inc. |  |  |
| 25400 |  | &nbsp;&nbsp;&nbsp;&nbsp; 6.219%, 09/01/23 |  | 1216406 |
| 22200 |  | &nbsp;&nbsp;&nbsp;&nbsp; 6.926%, 09/01/25 |  | 1064490 |
|  |  |  |  | 2280896 |
|  |  | **TOTAL CONVERTIBLE PREFERRED STOCKS**<br> (Cost $4,470,790) |  | 4753072 |
| **COMMON STOCKS (68.5%)** | **COMMON STOCKS (68.5%)** | **COMMON STOCKS (68.5%)** | **COMMON STOCKS (68.5%)** | **COMMON STOCKS (68.5%)** |
|  |  | ***Communication Services (3.1%)*** |  |  |
| 35464 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A# |  | 3505262 |
| 69400 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Tencent Holdings, Ltd. |  | 3381786 |
|  |  |  |  | 6887048 |
|  |  | ***Consumer Discretionary (7.0%)*** |  |  |
| 30000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Amazon.com, Inc.# |  | 3093900 |
| 680 |  | &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.# |  | 1658418 |
| 74100 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Compass Group, PLC |  | 1770101 |
| 90354 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; JD.com, Inc. - Class A |  | 2682913 |
| 39950 |  | &nbsp;&nbsp;&nbsp;&nbsp; Las Vegas Sands Corp.# |  | 2357050 |
| 4390 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; LVMH Moet Hennessy Louis<br> Vuitton, SE |  | 3832363 |
| 6940 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Meituan - Class B\*# |  | 155150 |
|  |  |  |  | 15549895 |
|  |  | ***Consumer Staples (2.9%)*** |  |  |
| 25250 |  | &nbsp;&nbsp;&nbsp;&nbsp; Coca-Cola Company~ |  | 1548330 |
| 2590 |  | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. |  | 1323853 |
| 20700 |  | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc. |  | 1622052 |
| 39400 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Seven & i Holdings Company, Ltd. |  | 1860188 |
|  |  |  |  | 6354423 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> **SHARES** | | | **VALUE** |
|  |  | ***Energy (4.7%)*** |  |
| 51900 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Natural Resources, Ltd.^ | $3185655 |
| 24200 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chevron Corp. | 4211284 |
| 31700 |  | &nbsp;&nbsp;&nbsp;&nbsp; Helmerich & Payne, Inc. | 1535548 |
| 10988 |  | &nbsp;&nbsp;&nbsp;&nbsp; Marathon Petroleum Corp. | 1412178 |
|  |  |  | 10344665 |
|  |  | ***Financials (12.0%)*** |  |
| 229800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 2598497 |
| 7600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aon, PLC - Class A | 2421968 |
| 1638000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Bank Mandiri Persero, Tbk PT | 1091458 |
| 84410 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp. | 2994867 |
| 140000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group, PLC | 1495738 |
| 5525 |  | &nbsp;&nbsp;&nbsp;&nbsp; Chubb, Ltd. | 1256882 |
| 174800 | INR | &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 3444758 |
| 13925 |  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company~ | 1948943 |
| 31850 |  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley | 3099961 |
| 52900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc. | 2299090 |
| 66500 |  | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG^# | 1427090 |
| 55200 |  | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company | 2587224 |
|  |  |  | 26666476 |
|  |  | ***Health Care (9.5%)*** |  |
| 18700 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca, PLC | 2449933 |
| 6166 |  | &nbsp;&nbsp;&nbsp;&nbsp; Danaher Corp. | 1630167 |
| 11500 |  | &nbsp;&nbsp;&nbsp;&nbsp; Eli Lilly & Company | 3957725 |
| 4210 |  | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc. | 2154257 |
| 4075 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Lonza Group, AG | 2324549 |
| 46350 |  | &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk, A/S | 6432453 |
| 4370 |  | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. | 2181460 |
|  |  |  | 21130544 |
|  |  | ***Industrials (8.6%)*** |  |
| 22100 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Airbus, SE | 2770585 |
| 34250 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Group, PLC | 2256005 |
| 24600 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway, Ltd.^ | 1941672 |
| 26800 |  | &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. | 4078692 |
| 25900 |  | &nbsp;&nbsp;&nbsp;&nbsp; Raytheon Technologies Corp. | 2586115 |
| 20250 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Schneider Electric, SE | 3284865 |
| 13600 |  | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. | 2104328 |
|  |  |  | 19022262 |
|  |  | ***Information Technology (17.1%)*** |  |
| 5700 |  | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A | 1590585 |
| 32440 |  | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. | 4680768 |
| 8630 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; ASML Holding, NV | 5710019 |
| 5250 |  | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. | 2219018 |
| 7000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Keyence Corp. | 3222581 |
| 18860 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. | 4673697 |
| 16500 |  | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. | 3223605 |
| 37250 |  | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp. | 3295135 |
| 314000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Company, Ltd. | 5541089 |
| 13900 |  | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Company, Ltd. | 1288947 |
| 10450 |  | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A^ | 2405694 |
|  |  |  | 37851138 |
|  |  | ***Materials (2.5%)*** |  |
| 109000 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Barrick Gold Corp. | 2131585 |
| 36700 |  | &nbsp;&nbsp;&nbsp;&nbsp; Freeport-McMoRan, Inc. | 1637554 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF<br>SHARES** | | | **VALUE** | **VALUE** |
| 81400 | &nbsp;&nbsp;&nbsp;&nbsp;JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nippon Steel Corp. | $| 1694318 |
|  |  |  |  | 5463457 |
|  |  | ***Special Purpose Acquisition Company (1.1%)*** |  |  |
| 80000 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Shell, PLC |  | 2348621 |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $111,876,036) |  | 151618529 |
| **PRINCIPAL**<br> **AMOUNT** |  |  | **VALUE** | **VALUE** |
| **U.S. GOVERNMENT AND AGENCY SECURITIES (1.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (1.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (1.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (1.7%)** | **U.S. GOVERNMENT AND AGENCY SECURITIES (1.7%)** |
|  |  | ***Other (1.7%)*** |  |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; United States Treasury Note |  |  |
| 2335000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 06/30/24 |  | 2253776 |
| 1640000 |  | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/30/24 |  | 1597751 |
|  |  | **TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES**<br> (Cost $3,953,545) |  | 3851527 |
| **NUMBER OF**<br> **CONTRACTS/**<br> **NOTIONAL**<br> **AMOUNT** |  |  | **VALUE** | **VALUE** |
| **PURCHASED OPTIONS (0.4%)** | **PURCHASED OPTIONS (0.4%)** | **PURCHASED OPTIONS (0.4%)** | **PURCHASED OPTIONS (0.4%)** | **PURCHASED OPTIONS (0.4%)** |
|  |  | ***Industrials (0.1%)*** |  |  |
| 160 |  | &nbsp;&nbsp;&nbsp;&nbsp; EMCOR Group, Inc. |  |  |
| 2372000 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 05/19/23, Strike $145.00 |  | 180000 |
|  |  | ***Materials (0.2%)*** |  |  |
| 5725 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cemex SAB de CV |  |  |
| 3057150 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 07/21/23, Strike $5.00 |  | 472313 |
|  |  | ***Other (0.1%)*** |  |  |
| 700 |  | &nbsp;&nbsp;&nbsp;&nbsp; iShares MSCI South Korea ETF |  |  |
| 4442900 |  | &nbsp;&nbsp;&nbsp;&nbsp; Call, 04/21/23, Strike $64.00 |  | 194250 |
|  |  | **TOTAL PURCHASED OPTIONS**<br> (Cost $886,064) |  | 846563 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  |  | **VALUE** | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** |
| 8108987 |  | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† (Cost $8,108,987) |  | 8108987 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (100.7%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (100.7%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (100.7%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $180,587,525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $180,587,525) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $180,587,525) |  | 222760457 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.7%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.7%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.7%) |  | (8108987) |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | |
|:---|:---|
|  OTHER ASSETS, LESS LIABILITIES (3.0%) | 6637986 |
|  **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;221289456 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

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

# 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 $1,831,530.  |

---

† Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **CAD** | Canadian Dollar |
| **CHF** | Swiss Franc |
| **EUR** | European Monetary Unit |
| **GBP** | British Pound Sterling |
| **HKD** | Hong Kong Dollar |
| **IDR** | Indonesian Rupiah |
| **INR** | Indian Rupee |
| **JPY** | Japanese Yen |
| **SGD** | Singapore Dollar |
| **TWD** | New Taiwan Dollar |

---

*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.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **CURRENCY EXPOSURE JANUARY 31, 2023** | | |
| | **Value** | **% of Total**<br> **Investments** |
|  US Dollar | $141260814 | 63.4% |
|  European Monetary Unit | 25253467 | 11.3% |
|  Japanese Yen | 13161908 | 5.9% |
|  Hong Kong Dollar | 12046878 | 5.4% |
|  British Pound Sterling | 8824660 | 4.0% |
|  Canadian Dollar | 7258912 | 3.3% |
|  New Taiwan Dollar | 5541089 | 2.5% |
|  Indian Rupee | 3444758 | 1.6% |
|  Singapore Dollar | 2551964 | 1.1% |
|  Swiss Franc | 2324549 | 1.0% |
|  Indonesian Rupiah | 1091458 | 0.5% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222760457 | 100.0% |
|  *Currency exposure may vary over time.* |  |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos International Small Cap Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | |
| **COMMON STOCKS (96.1%)** | **COMMON STOCKS (96.1%)** | **COMMON STOCKS (96.1%)** | **COMMON STOCKS (96.1%)** |  |
|  |  | ***Communication Services (3.1%)*** |  |  |
| 698 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; IPSOS | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45236 |  |
| 2495 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Pearson, PLC | 28453 |  |
|  |  |  | 73689 |  |
|  |  | ***Consumer Discretionary (18.6%)*** | ***Consumer Discretionary (18.6%)*** | **** |
| 5650 |  | &nbsp;&nbsp;&nbsp;&nbsp; Arcos Dorados Holdings, Inc. - Class A | 48025 |  |
| 201000 | PHP | &nbsp;&nbsp;&nbsp;&nbsp; Bloomberry Resorts Corp.# | 34004 |  |
| 424 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Brunello Cucinelli S.p.A | 35315 |  |
| 800 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; CIE Automotive, SA | 23764 |  |
| 11000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Jiumaojiu International Holdings, Ltd.\* | 28184 |  |
| 600 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kyoritsu Maintenance Company, Ltd. | 27404 |  |
| 4800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; New Oriental Education & Technology Group, Inc.# | 20375 |  |
| 900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nextage Company, Ltd. | 20244 |  |
| 900 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Pet Valu Holdings, Ltd. | 26914 |  |
| 21900 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Samsonite International, SA#\* | 65240 |  |
| 780 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Sanlorenzo S.p.A | 34243 |  |
| 2430 | INR | &nbsp;&nbsp;&nbsp;&nbsp; TVS Motor Company, Ltd. | 30991 |  |
| 3320 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; Webjet, Ltd.# | 16181 |  |
| 25600 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Wynn Macau, Ltd.# | 29300 |  |
|  |  |  | 440184 |  |
|  |  | ***Consumer Staples (7.3%)*** |  |  |
| 3630 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; Hypera, SA | 33180 |  |
| 800 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kobe Bussan Company, Ltd. | 23097 |  |
| 200 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Kose Corp. | 22067 |  |
| 8000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; L'Occitane International, SA | 22258 |  |
| 151000 | IDR | &nbsp;&nbsp;&nbsp;&nbsp; Sumber Alfaria Trijaya, Tbk PT | 28544 |  |
| 1550 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Varun Beverages, Ltd. | 21839 |  |
| 6000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Yihai International Holding, Ltd.# | 21351 |  |
|  |  |  | 172336 |  |
|  |  | ***Energy (6.3%)*** |  |  |
| 2565 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; ARC Resources, Ltd. | 29803 |  |
| 22380 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; CES Energy Solutions Corp. | 48778 |  |
| 1640 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Motor Oil Hellas Corinth Refineries, SA | 40078 |  |
| 2260 |  | &nbsp;&nbsp;&nbsp;&nbsp; TechnipFMC, PLC# | 31392 |  |
|  |  |  | 150051 |  |
|  |  | ***Financials (10.4%)*** |  |  |
| 7190 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Ireland Group, PLC | 76817 |  |
| 5810 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Beazley, PLC | 47813 |  |
| 3900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Concordia Financial Group, Ltd. | 17138 |  |
| 1130 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Hana Financial Group, Inc. | 44891 |  |
| 381 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Jyske Bank, A/S# | 27479 |  |
| 8585 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; Steadfast Group, Ltd. | 31895 |  |
|  |  |  | 246033 |  |
|  |  | ***Health Care (6.0%)*** |  |  |
| 2285 |  | &nbsp;&nbsp;&nbsp;&nbsp; Abcam, PLC# | 31693 |  |
| 310 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals, PLC | 10995 |  |
| 2960 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Ergomed, PLC# | 43850 |  |
| 1400 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sosei Group Corp.# | 26518 |  |
| 69 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Tecan Group, AG | 28957 |  |
|  |  |  | 142013 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | |
|  |  | ***Industrials (24.7%)*** | ***Industrials (24.7%)*** | **** |
| 840 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Aalberts, NV | $39717 |  |
| 1200 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; BayCurrent Consulting, Inc. | 51012 |  |
| 36 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Burckhardt Compression Holding, AG | 22289 |  |
| 615 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; DO & CO, AG# | 65129 |  |
| 1200 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Duerr, AG | 45785 |  |
| 500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Ebara Corp. | 21230 |  |
| 1160 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Hexatronic Group, AB | 14278 |  |
| 1150 | INR | &nbsp;&nbsp;&nbsp;&nbsp; Hindustan Aeronautics, Ltd. | 36111 |  |
| 645 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Interpump Group S.p.A | 33637 |  |
| 600 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Japan Airport Terminal Company, Ltd.# | 31275 |  |
| 5717 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Munters Group, AB\* | 54815 |  |
| 250 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Societe BIC, SA | 18152 |  |
| 1800 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sojitz Corp. | 35687 |  |
| 957 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Stantec, Inc. | 49887 |  |
| 1700 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; THK Company, Ltd. | 36078 |  |
| 400 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Visional, Inc.# | 28983 |  |
|  |  |  | 584065 |  |
|  |  | ***Information Technology (15.9%)*** | ***Information Technology (15.9%)*** | **** |
| 1105 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; AIXTRON, SE | 32924 |  |
| 205 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Alten, SA | 31499 |  |
| 217 |  | &nbsp;&nbsp;&nbsp;&nbsp; CyberArk Software, Ltd.# | 30571 |  |
| 245 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Elmos Semiconductor, SE | 16645 |  |
| 228 |  | &nbsp;&nbsp;&nbsp;&nbsp; Endava, PLC (ADR)# | 20034 |  |
| 740 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Keywords Studios, PLC | 25991 |  |
| 279 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; Kinaxis, Inc.# | 32428 |  |
| 15000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Kingdee International Software Group Company, Ltd.# | 32738 |  |
| 1280 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Koh Young Technology, Inc.# | 17963 |  |
| 1235 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Lectra | 51434 |  |
| 2980 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Sage Group, PLC | 28631 |  |
| 100 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; SHIFT, Inc.# | 18664 |  |
| 6180 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; TOTVS, SA | 36608 |  |
|  |  |  | 376130 |  |
|  |  | ***Materials (3.8%)*** |  |  |
| 7650 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cemex, SAB de CV# | 40851 |  |
| 1860 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; IGO, Ltd. | 19335 |  |
| 1100 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; OSAKA Titanium Technologies Company, Ltd. | 31212 |  |
|  |  |  | 91398 |  |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $2,192,977) | 2275899 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (96.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (96.1%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (96.1%)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,192,977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,192,977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,192,977) | 2275899 |  |
| OTHER ASSETS, LESS LIABILITIES (3.9%) | OTHER ASSETS, LESS LIABILITIES (3.9%) | OTHER ASSETS, LESS LIABILITIES (3.9%) | 91163 |  |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2367062 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos International Small Cap Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

# Non-income producing security.

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

**FOREIGN CURRENCY ABBREVIATIONS** 

---

| | |
|:---|:---|
| **AUD** | Australian Dollar |
| **BRL** | Brazilian Real |
| **CAD** | Canadian Dollar |
| **CHF** | Swiss Franc |
| **DKK** | Danish Krone |
| **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 |
| **PHP** | Philippine Peso |
| **SEK** | Swedish Krona |

---

*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.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos International Small Cap Growth Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **CURRENCY EXPOSURE JANUARY 31, 2023** | | |
| | **Value** | **% of Total**<br> **Investments** |
|  European Monetary Unit | $590375 | 25.9% |
|  Japanese Yen | 390609 | 17.2% |
|  Hong Kong Dollar | 219446 | 9.6% |
|  US Dollar | 202566 | 8.9% |
|  Canadian Dollar | 187810 | 8.2% |
|  British Pound Sterling | 185733 | 8.2% |
|  Indian Rupee | 88941 | 3.9% |
|  Brazilian Real | 69788 | 3.1% |
|  Swedish Krona | 69093 | 3.0% |
|  Australian Dollar | 67411 | 3.0% |
|  South Korean Won | 62854 | 2.8% |
|  Swiss Franc | 51246 | 2.2% |
|  Philippine Peso | 34004 | 1.5% |
|  Indonesian Rupiah | 28544 | 1.3% |
|  Danish Krone | 27479 | 1.2% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2275899 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Sustainable Equities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** |
| **COMMON STOCKS (98.8%)** | **COMMON STOCKS (98.8%)** | **COMMON STOCKS (98.8%)** | **COMMON STOCKS (98.8%)** |
|  |  | ***Communication Services (4.7%)*** |  |
| 1468 |  | &nbsp;&nbsp;&nbsp;&nbsp; Alphabet, Inc. - Class A# | $145097 |
| 1299 | CAD | &nbsp;&nbsp;&nbsp;&nbsp; BCE, Inc. | 61408 |
| 198453 | KES | &nbsp;&nbsp;&nbsp;&nbsp; Safaricom, PLC | 37459 |
| 1412 |  | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc. | 58697 |
|  |  |  | 302661 |
|  |  | ***Consumer Discretionary (12.5%)*** |  |
| 291 |  | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC# | 32909 |
| 1500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; BYD Company, Ltd. - Class H | 47501 |
| 1815 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Cie Generale des Etablissements Michelin SCA | 57390 |
| 391 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; EssilorLuxottica, SA | 71740 |
| 1489 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Greggs, PLC | 49721 |
| 1468 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Industria de Diseno Textil, SA | 45832 |
| 1754 |  | &nbsp;&nbsp;&nbsp;&nbsp; Levi Strauss & Company - Class A | 32274 |
| 765 |  | &nbsp;&nbsp;&nbsp;&nbsp; LKQ Corp. | 45104 |
| 324 |  | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc. - Class B | 41255 |
| 1013 |  | &nbsp;&nbsp;&nbsp;&nbsp; Sony Group Corp. | 90623 |
| 763 |  | &nbsp;&nbsp;&nbsp;&nbsp; Starbucks Corp. | 83274 |
| 493 |  | &nbsp;&nbsp;&nbsp;&nbsp; Target Corp. | 84865 |
| 985 |  | &nbsp;&nbsp;&nbsp;&nbsp; TJX Companies, Inc. | 80632 |
| 152 |  | &nbsp;&nbsp;&nbsp;&nbsp; Tractor Supply Company | 34655 |
|  |  |  | 797775 |
|  |  | ***Consumer Staples (6.0%)*** |  |
| 127 |  | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp. | 64915 |
| 958 |  | &nbsp;&nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.# | 63506 |
| 2736 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Jeronimo Martins SGPS, SA | 59401 |
| 603 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Kerry Group, PLC - Class A | 56501 |
| 2395 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke Ahold Delhaize, NV | 71483 |
| 107 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; L'Oreal, SA | 44181 |
| 285 |  | &nbsp;&nbsp;&nbsp;&nbsp; McCormick & Company, Inc. | 21409 |
|  |  |  | 381396 |
|  |  | ***Financials (15.2%)*** |  |
| 4800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; AIA Group, Ltd. | 54277 |
| 8461 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Aviva, PLC | 47719 |
| 1330 |  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. | 67258 |
| 149823 |  | &nbsp;&nbsp;&nbsp;&nbsp; IDR Bank Rakyat Indonesia Persero, Tbk PT | 45946 |
| 310 |  | &nbsp;&nbsp;&nbsp;&nbsp; Credicorp, Ltd. | 41633 |
| 2988 | NOK | &nbsp;&nbsp;&nbsp;&nbsp; DNB Bank, ASA | 55874 |
| 7405 | MXN | &nbsp;&nbsp;&nbsp;&nbsp; Grupo Financiero Banorte, SAB de CV - Class O | 61346 |
| 1500 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Hang Seng Bank, Ltd. | 24980 |
| 1021 |  | &nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank, Ltd. | 68775 |
| 800 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; Hong Kong Exchanges & Clearing, Ltd. | 35982 |
| 371 |  | &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc. | 39901 |
| 5966 |  | &nbsp;&nbsp;&nbsp;&nbsp; Itau Unibanco Holding, SA | 29711 |
| 171 |  | &nbsp;&nbsp;&nbsp;&nbsp; Jones Lang LaSalle, Inc.# | 31613 |
| 959 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; KBC Group, NV | 71031 |
| 68 |  | &nbsp;&nbsp;&nbsp;&nbsp; MSCI, Inc. - Class A | 36146 |
| 3100 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; ORIX Corp. | 54507 |
| 338 |  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. | 55915 |
| 1782 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Shinhan Financial Group Company, Ltd. | 60257 |
| 86 |  | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group# | 26010 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** | **VALUE** | |
| 329 |  | &nbsp;&nbsp;&nbsp;&nbsp; Travelers Companies, Inc. | $| 62878 |  |
|  |  |  |  | 971759 |  |
|  |  | ***Health Care (12.4%)*** |  |  |  |
| 207 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; Cochlear, Ltd. |  | 31273 |  |
| 188 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Coloplast, A/S - Class B |  | 22698 |  |
| 252 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; CSL, Ltd. |  | 53210 |  |
| 880 |  | &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp. |  | 77634 |  |
| 974 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Dechra Pharmaceuticals, PLC |  | 34544 |  |
| 481 |  | &nbsp;&nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp.# |  | 36893 |  |
| 1724 | NZD | &nbsp;&nbsp;&nbsp;&nbsp; Fisher & Paykel Healthcare Corp., Ltd. |  | 28293 |  |
| 689 |  | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc. |  | 57835 |  |
| 795 |  | &nbsp;&nbsp;&nbsp;&nbsp; Merck & Company, Inc. |  | 85391 |  |
| 319 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Merck KGaA |  | 66584 |  |
| 488 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Novo Nordisk, A/S - Class B |  | 67534 |  |
| 261 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Roche Holding, AG |  | 81476 |  |
| 184 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Straumann Holding, AG |  | 24092 |  |
| 500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Sysmex Corp. |  | 33193 |  |
| 162 |  | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc. |  | 92393 |  |
|  |  |  |  | 793043 |  |
|  |  | ***Industrials (17.1%)*** |  |  |  |
| 1168 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Assa Abloy, AB - Class B |  | 27514 |  |
| 2640 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Atlas Copco, AB - Class A |  | 31326 |  |
| 1116 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. |  | 64996 |  |
| 926 |  | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway, Ltd. |  | 73061 |  |
| 400 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Daifuku Company, Ltd. |  | 22026 |  |
| 173 |  | &nbsp;&nbsp;&nbsp;&nbsp; Deere & Company |  | 73151 |  |
| 800 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; East Japan Railway Company |  | 44607 |  |
| 1600 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; Epiroc, AB - Class A |  | 31131 |  |
| 490 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ferguson, PLC |  | 69747 |  |
| 963 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Intertek Group, PLC |  | 51758 |  |
| 338 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Kingspan Group, PLC |  | 21739 |  |
| 106 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Kuehne + Nagel International, AG |  | 25276 |  |
| 1992 |  | &nbsp;&nbsp;&nbsp;&nbsp; MillerKnoll, Inc. |  | 47569 |  |
| 800 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Nidec Corp. |  | 44335 |  |
| 552 |  | &nbsp;&nbsp;&nbsp;&nbsp; Quanta Services, Inc. |  | 84009 |  |
| 900 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Recruit Holdings Company, Ltd. |  | 28944 |  |
| 134 |  | &nbsp;&nbsp;&nbsp;&nbsp; Rockwell Automation, Inc. |  | 37792 |  |
| 507 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Siemens, AG |  | 79196 |  |
| 1800 | CNY | &nbsp;&nbsp;&nbsp;&nbsp; Sungrow Power Supply Company, Ltd. - Class A |  | 34850 |  |
| 187 |  | &nbsp;&nbsp;&nbsp;&nbsp; Trane Technologies, PLC |  | 33496 |  |
| 338 |  | &nbsp;&nbsp;&nbsp;&nbsp; United Parcel Service, Inc. - Class B |  | 62608 |  |
| 436 |  | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc. |  | 67462 |  |
| 338 |  | &nbsp;&nbsp;&nbsp;&nbsp; Xylem, Inc. |  | 35155 |  |
|  |  |  |  | 1091748 |  |
|  |  | ***Information Technology (19.8%)*** | ***Information Technology (19.8%)*** | ***Information Technology (19.8%)*** | **** |
| 157 |  | &nbsp;&nbsp;&nbsp;&nbsp; Accenture, PLC - Class A |  | 43811 |  |
| 95 |  | &nbsp;&nbsp;&nbsp;&nbsp; Adobe, Inc.# |  | 35182 |  |
| 539 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Amadeus IT Group, SA# |  | 33959 |  |
| 1269 |  | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc. |  | 183104 |  |
| 799 |  | &nbsp;&nbsp;&nbsp;&nbsp; Applied Materials, Inc. |  | 89081 |  |
| 1308 |  | &nbsp;&nbsp;&nbsp;&nbsp; Cisco Systems, Inc. |  | 63660 |  |
| 581 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Dassault Systemes, SE |  | 21608 |  |
| 1887 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Infineon Technologies, AG |  | 67952 |  |
| 90 |  | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc. |  | 38040 |  |
| 720 |  | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp. |  | 178423 |  |
| 347 |  | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. |  | 67794 |  |
| 500 | JPY | &nbsp;&nbsp;&nbsp;&nbsp; Omron Corp. |  | 28930 |  |
| 85 | KRW | &nbsp;&nbsp;&nbsp;&nbsp; Samsung SDI Company, Ltd. |  | 47634 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Global Sustainable Equities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | | **VALUE** |
| 667 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; SAP, SE | $79066 |
| 968 |  | &nbsp;&nbsp;&nbsp;&nbsp; Taiwan Semiconductor |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; Manufacturing Company, Ltd. | 89763 |
| 420 |  | &nbsp;&nbsp;&nbsp;&nbsp; TE Connectivity, Ltd. | 53403 |
| 224 |  | &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc. | 39695 |
| 451 |  | &nbsp;&nbsp;&nbsp;&nbsp; Visa, Inc. - Class A | 103825 |
|  |  |  | 1264930 |
|  |  | ***Materials (5.1%)*** |  |
| 382 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Air Liquide, SA | 60824 |
| 312 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; Croda International, PLC | 26594 |
| 406 |  | &nbsp;&nbsp;&nbsp;&nbsp; Ecolab, Inc. | 62861 |
| 13022 | BRL | &nbsp;&nbsp;&nbsp;&nbsp; Klabin, SA | 49612 |
| 252 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Koninklijke DSM, NV | 32408 |
| 144 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Linde, PLC# | 47638 |
| 427 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Novozymes, A/S - Class B | 22219 |
| 95 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; Sika, AG | 26994 |
|  |  |  | 329150 |
|  |  | ***Real Estate (2.5%)*** |  |
| 236 |  | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp. | 52720 |
| 19300 | SGD | &nbsp;&nbsp;&nbsp;&nbsp; Capitaland Investment, Ltd. | 58472 |
| 355 |  | &nbsp;&nbsp;&nbsp;&nbsp; Prologis, Inc. | 45894 |
|  |  |  | 157086 |
|  |  | ***Utilities (3.5%)*** |  |
| 207 |  | &nbsp;&nbsp;&nbsp;&nbsp; American Water Works Company, Inc. | 32394 |
| 47330 | HKD | &nbsp;&nbsp;&nbsp;&nbsp; China Water Affairs Group, Ltd. | 41138 |
| 1122 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; EDP Renovaveis, SA | 24405 |
| 9510 | COP | &nbsp;&nbsp;&nbsp;&nbsp; Interconexion Electrica, SA ESP | 38781 |
| 238 | DKK | &nbsp;&nbsp;&nbsp;&nbsp; Orsted, A/S\* | 21194 |
| 10345 |  | &nbsp;&nbsp;&nbsp;&nbsp; INR Power Grid Corp. of India, Ltd. | 27624 |
| 5093 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; Terna - Rete Elettrica Nazionale | 40295 |
|  |  |  | 225831 |
|  |  | **TOTAL COMMON STOCKS**<br> (Cost $6,737,893) | 6315379 |
| **TOTAL INVESTMENTS (98.8%)**<br> (Cost $6,737,893) | **TOTAL INVESTMENTS (98.8%)**<br> (Cost $6,737,893) | **TOTAL INVESTMENTS (98.8%)**<br> (Cost $6,737,893) | 6315379 |
| OTHER ASSETS, LESS LIABILITIES (1.2%) | OTHER ASSETS, LESS LIABILITIES (1.2%) | OTHER ASSETS, LESS LIABILITIES (1.2%) | 75382 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6390761 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

# Non-income producing security.

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

---

| | |
|:---|:---|
| **FOREIGN CURRENCY ABBREVIATIONS** | **FOREIGN CURRENCY ABBREVIATIONS** |
| **AUD** | Australian Dollar |
| **BRL** | Brazilian Real |
| **CAD** | Canadian Dollar |

---

---

| | |
|:---|:---|
| **CHF** | Swiss Franc |
| **CNY** | Chinese Yuan Renminbi |
| **COP** | Colombian Peso |
| **DKK** | Danish Krone |
| **EUR** | European Monetary Unit |
| **GBP** | British Pound Sterling |
| **HKD** | Hong Kong Dollar |
| **IDR** | Indonesian Rupiah |
| **INR** | Indian Rupee |
| **JPY** | Japanese Yen |
| **KES** | Kenyan Shilling |
| **KRW** | South Korean Won |
| **MXN** | Mexican Peso |
| **NOK** | Norwegian Krone |
| **NZD** | New Zealand Dollar |
| **SEK** | Swedish Krona |
| **SGD** | Singapore Dollar |

---

See accompanying Notes to Schedule of Investments

------

**CURRENCY EXPOSURE JANUARY 31, 2023** 

---

| | | |
|:---|:---|:---|
|  | **Value** | **% of Total**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Investments** |
|  US Dollar | $3517897 | 55.7% |
|  European Monetary Unit | 1053233 | 16.7% |
|  Japanese Yen | 256542 | 4.1% |
|  British Pound Sterling | 210336 | 3.3% |
|  Hong Kong Dollar | 203878 | 3.2% |
|  Swiss Franc | 157838 | 2.5% |
|  Danish Krone | 133645 | 2.1% |
|  South Korean Won | 107891 | 1.7% |
|  Swedish Krona | 89971 | 1.4% |
|  Australian Dollar | 84483 | 1.3% |
|  Canadian Dollar | 61408 | 1.0% |
|  Mexican Peso | 61346 | 1.0% |
|  Singapore Dollar | 58472 | 0.9% |
|  Norwegian Krone | 55874 | 0.9% |
|  Brazilian Real | 49612 | 0.8% |
|  Indonesian Rupiah | 45946 | 0.7% |
|  Colombian Peso | 38781 | 0.6% |
|  Kenyan Shilling | 37459 | 0.6% |
|  Chinese Yuan Renminbi | 34850 | 0.6% |
|  New Zealand Dollar | 28293 | 0.5% |
|  Indian Rupee | 27624 | 0.4% |
|  Total Investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6315379 | 100.0% |

---

*Currency exposure may vary over time.* 

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** | |
| **CORPORATE BONDS (43.3%)** | **CORPORATE BONDS (43.3%)** | **CORPORATE BONDS (43.3%)** |  |
|  | ***Airlines (2.7%)*** |  |  |
| 188167 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-1, Class B\*<br> 3.875%, 09/15/24 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187435 |  |
| 102984 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-2, Class AA\*<br> 3.750%, 06/15/29 | 91949 |  |
| 181293 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust Series 2020-1, Class A\*<br> 4.800%, 02/15/29 | 176987 |  |
| 74286 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust Series 2013-1, Class A\*<br> 4.625%, 12/20/25 | 73229 |  |
| 109157 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust Series 2019-1, Class A\*<br> 3.350%, 12/15/30 | 95389 |  |
| 129882 | &nbsp;&nbsp;&nbsp;&nbsp; JetBlue Pass Through Trust Series 2019-1, Class AA<br> 2.750%, 11/15/33 | 108936 |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.\*<br> 8.000%, 09/20/25 | 76563 |  |
| 126553 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Pass Through Trust Series 2018-1, Class B<br> 4.600%, 09/01/27 | 118714 |  |
|  |  | 929202 |  |
|  | ***Communication Services (2.4%)*** | ***Communication Services (2.4%)*** | **** |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.\*<br> 4.375%, 08/15/27 | 191898 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating, LLC / Charter Communications Operating Capital<br> 2.800%, 04/01/31 | 81814 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp.<br> 3.900%, 03/01/38 | 137682 |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp.<br> 5.250%, 08/01/26 | 107398 |  |
| 64000 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\*<br> 3.625%, 06/15/25 | 62091 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.<br> 6.700%, 12/15/33 | 93070 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc.<br> 4.016%, 12/03/29 | 143835 |  |
|  |  | 817788 |  |
|  | ***Consumer Discretionary (2.4%)*** | ***Consumer Discretionary (2.4%)*** | **** |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Cargill, Inc.\*<br> 3.125%, 05/25/51 | 111552 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Company, LLC<br> 4.000%, 11/13/30 | 174824 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; GLP Capital, LP / GLP Financing II, Inc. 3.250%, 01/15/32 | 83513 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; goeasy, Ltd.\*<br> 4.375%, 05/01/26 | 89833 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc.<br> 3.950%, 02/15/30 | 84248 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc.<br> 6.200%, 10/01/40 | 92840 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc.^<br> 6.375%, 09/15/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100662 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; NIKE, Inc.<br> 2.850%, 03/27/30 | 92019 |
|  |  | 829491 |
|  | ***Consumer Staples (2.5%)*** |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Anheuser-Busch InBev Worldwide, Inc.<br> 3.500%, 06/01/30 | 117922 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Archer-Daniels-Midland Company<br> 3.250%, 03/27/30 | 116854 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Costco Wholesale Corp.<br> 1.600%, 04/20/30 | 105880 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Company\*<br> 4.125%, 04/01/29 | 87204 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Hershey Company<br> 1.700%, 06/01/30 | 104599 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.\*<br> 5.500%, 01/15/30 | 194484 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Kimberly-Clark Corp.<br> 3.100%, 03/26/30 | 92578 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.\*<br> 4.250%, 04/15/31 | 43404 |
|  |  | 862925 |
|  | ***Energy (1.1%)*** |  |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP‡<br> 7.831%, 11/01/66<br> 3 mo. USD LIBOR + 3.02% | 141827 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners, LP\*<br> 7.500%, 06/01/27 | 100378 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp.\*<br> 3.125%, 05/15/26 | 93669 |
| 52000 | &nbsp;&nbsp;&nbsp;&nbsp; MPLX, LP‡<br> 6.875%, 02/15/23<br> 3 mo. USD LIBOR + 4.65% | 52033 |
|  |  | 387907 |
|  | ***Financials (13.9%)*** |  |
| 115000 | &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc.‡<br> 4.700%, 05/15/26 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 5 year CMT + 3.87% | 94737 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Aviation Capital Group, LLC\*<br> 3.500%, 11/01/27 | 89841 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd.\*<br> 5.500%, 01/15/26 | 98023 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; AXIS Specialty Finance, PLC<br> 4.000%, 12/06/27 | 119754 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.‡<br> 2.087%, 06/14/29 SOFR + 1.06% | 87178 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal‡ |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.088%, 01/10/37<br> 5 year CMT + 1.40% | 121977 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.800%, 08/25/24<br> 5 year CMT + 2.98% | 71102 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp.‡<br> 5.834%, 10/25/33<br> SOFR + 2.07% | 108330 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway Finance Corp.<br> 4.250%, 01/15/49 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141565 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; BP Capital Markets, PLC‡<br> 4.875%, 03/22/30<br> 5 year CMT + 4.40% | 116929 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Finance, Inc.<br> 2.724%, 04/15/31 | 147964 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp.‡ 2.359%, 07/29/32<br> SOFR + 1.34% | 114587 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.‡<br> 4.000%, 06/01/26<br> 5 year CMT + 3.17% | 92203 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb INA Holdings, Inc.<br> 4.150%, 03/13/43 | 92563 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.‡<br> 3.875%, 02/18/26<br> 5 year CMT + 3.42% | 137272 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Essential Properties, LP<br> 2.950%, 07/15/31 | 76104 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Essex Portfolio, LP<br> 1.700%, 03/01/28 | 85761 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP\*<br> 3.750%, 12/15/27 | 84530 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Globe Life, Inc.^<br> 4.550%, 09/15/28 | 126078 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc.‡<br> 3.800%, 05/10/26<br> 5 year CMT + 2.97% | 131924 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II\*‡<br> 6.538%, 12/21/65<br> 3 mo. USD LIBOR + 1.80% | 168802 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company^‡<br> 3.650%, 06/01/26<br> 5 year CMT + 2.85% | 112850 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\*<br> 3.400%, 03/01/27 | 86719 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; LSEGA Financing, PLC\*<br> 2.000%, 04/06/28 | 176042 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Markel Corp.^<br> 3.500%, 11/01/27 | 119326 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc.<br> 6.400%, 12/15/66 | 102522 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Necessity Retail REIT, Inc. / American Finance Operating Partner, LP\*<br> 4.500%, 09/30/28 | 76925 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp\*‡<br> 3.750%, 03/01/29<br> 5 year CMT + 2.60% | 159104 |
| 118000 | &nbsp;&nbsp;&nbsp;&nbsp; PartnerRe Finance B, LLC^‡<br> 4.500%, 10/01/50<br> 5 year CMT + 3.82% | 106012 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Primerica, Inc.<br> 2.800%, 11/19/31 | 85124 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Prologis, LP |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/15/30 | 107925 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 11/15/29 | 90003 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Radian Group, Inc.<br> 4.500%, 10/01/24 | 97435 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; RenaissanceRe Finance, Inc.^<br> 3.450%, 07/01/27 | 119106 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; SLM Corp.<br> 3.125%, 11/02/26 | 132638 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group^ |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/15/26‡<br> 5 year CMT + 3.20% | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100548 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 05/15/28 | 85525 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank<br> 4.456%, 06/08/32 | 98233 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Travelers Companies, Inc.<br> 2.550%, 04/27/50 | 86380 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; USAA Capital Corp.\*<br> 2.125%, 05/01/30 | 170132 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Ventas Realty, LP<br> 4.000%, 03/01/28 | 118955 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, LP / VICI Note Company, Inc.\*<br> 3.500%, 02/15/25 | 142818 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo & Company&<br> 4.400%, 06/14/46 | 110576 |
|  |  | 4792122 |
|  | ***Health Care (3.0%)*** |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Charles River Laboratories International, Inc.\*^<br> 3.750%, 03/15/29 | 89338 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; CVS Health Corp.<br> 4.780%, 03/25/38 | 143688 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30 | 84312 |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 | 17909 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc.<br> 6.400%, 08/28/28 | 98444 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Illumina, Inc. 5.750%, 12/13/27 | 103431 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Johnson & Johnson<br> 3.400%, 01/15/38 | 135833 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Foundation Hospitals<br> 2.810%, 06/01/41 | 77422 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Royalty Pharma, PLC<br> 2.200%, 09/02/30 | 81733 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc.<br> 5.250%, 02/15/28 | 104253 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc.<br> 5.600%, 11/16/32 | 107723 |
|  |  | 1044086 |
|  | ***Industrials (6.0%)*** |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp.‡<br> 4.650%, 06/15/26<br> 5 year CMT + 4.08% | 111120 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\*<br> 4.625%, 01/15/27 | 95154 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Company\*<br> 7.250%, 08/15/27 | 98167 |
| 40000 | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp.<br> 6.875%, 03/15/28 | 41322 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc.\*^<br> 4.500%, 11/15/26 | 119253 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Burlington Northern Santa Fe, LLC<br> 4.950%, 09/15/41 | 101826 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Cascades, Inc. / Cascades USA, Inc.\*<br> 5.125%, 01/15/26 | 93634 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Cummins, Inc.<br> 4.875%, 10/01/43 | 101308 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines Pass Through<br> Trust Series 2019-1, Class AA<br> 3.204%, 10/25/25 | $| 127664 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; EnerSys\*<br> 4.375%, 12/15/27 |  | 92478 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC\*<br> 1.512%, 04/15/26 |  | 88934 |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; GXO Logistics, Inc.<br> 1.650%, 07/15/26 |  | 69833 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual<br> Property, Ltd. / HawaiianMiles<br> Loyalty, Ltd.\*<br> 5.750%, 01/20/26 |  | 95689 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Honeywell International, Inc.<br> 1.950%, 06/01/30 |  | 85485 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Illinois Tool Works, Inc.<br> 4.875%, 09/15/41 |  | 103796 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Infor, Inc.\*<br> 1.750%, 07/15/25 |  | 113850 |  |
| 121000 | &nbsp;&nbsp;&nbsp;&nbsp; QVC, Inc.<br> 4.375%, 09/01/28 |  | 77797 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc.<br> 1.400%, 09/15/27 |  | 108621 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; SMBC Aviation Capital Finance DAC\*<br> 1.900%, 10/15/26 |  | 217173 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm, Inc.\*<br> 6.250%, 03/15/26 |  | 125081 |  |
|  |  |  | 2068185 |  |
|  | ***Information Technology (3.3%)*** | ***Information Technology (3.3%)*** | ***Information Technology (3.3%)*** | **** |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Apple, Inc.<br> 4.375%, 05/13/45 |  | 146475 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc.<br> 3.400%, 06/27/26 |  | 95659 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; CGI, Inc.<br> 1.450%, 09/14/26 |  | 112155 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.<br> 2.200%, 03/15/31 |  | 102721 |  |
| 157000 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.<br> 4.100%, 02/06/37 |  | 155816 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp.<br> 3.500%, 04/01/40 |  | 108984 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp.\*<br> 6.900%, 12/01/27 |  | 102560 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\*^<br> 4.000%, 03/01/29 |  | 87415 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Twilio, Inc.<br> 3.625%, 03/15/29 |  | 85043 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; VMware, Inc.<br> 1.800%, 08/15/28 |  | 126614 |  |
|  |  |  | 1123442 |  |
|  | ***Materials (1.0%)*** |  |  |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal, SA<br> 6.550%, 11/29/27 |  | 104438 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp.\*<br> 5.375%, 02/01/25 |  | 147128 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Georgia-Pacific, LLC\*<br> 3.600%, 03/01/25 |  | 97844 |  |
|  |  |  | 349410 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | |
|  | ***Other (0.4%)*** |  |  |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Intact Financial Corp.\*<br> 5.459%, 09/22/32 | $| 127886 |  |
|  | ***Real Estate (2.1%)*** | ***Real Estate (2.1%)*** | ***Real Estate (2.1%)*** | **** |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Brixmor Operating Partnership, LP<br> 4.125%, 06/15/26 |  | 96148 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties<br> 4.950%, 04/15/28 |  | 135750 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\*<br> 3.850%, 05/15/26 |  | 112169 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc.<br> 3.250%, 07/15/26 |  | 95553 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Public Storage<br> 2.300%, 05/01/31 |  | 85513 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust<br> 3.950%, 01/15/28 |  | 95399 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Tanger Properties, LP<br> 3.875%, 07/15/27 |  | 117548 |  |
|  |  |  | 738080 |  |
|  | ***Utilities (2.5%)*** | ***Utilities (2.5%)*** | ***Utilities (2.5%)*** | **** |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Berkshire Hathaway Energy Company<br> 3.800%, 07/15/48 |  | 124818 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison Company of New York, Inc.<br> 3.350%, 04/01/30 |  | 92908 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Duke Energy Carolinas, LLC<br> 3.700%, 12/01/47 |  | 123741 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Texas, Inc.<br> 1.500%, 09/01/26 |  | 88470 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Monongahela Power Company\*<br> 3.550%, 05/15/27 |  | 95725 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Northern States Power Company<br> 3.750%, 12/01/47 |  | 118790 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Public Service Electric and Gas Company<br> 3.600%, 12/01/47 |  | 124051 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Company‡<br> 3.750%, 09/15/51<br> 5 year CMT + 2.92% |  | 109765 |  |
|  |  |  | 878268 |  |
|  | **TOTAL CORPORATE BONDS**<br> (Cost $16,441,319) |  | 14948792 |  |
| **BANK LOANS (10.5%) ¡** | **BANK LOANS (10.5%) ¡** |  |  |  |
|  | ***Airlines (0.6%)*** | ***Airlines (0.6%)*** | ***Airlines (0.6%)*** | **** |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc.‡<br> 9.558%, 04/20/28<br> 3 mo. LIBOR + 4.75% |  | 190260 |  |
|  | ***Communication Services (2.1%)*** | ***Communication Services (2.1%)*** | ***Communication Services (2.1%)*** | **** |
| 292745 | &nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating Company, LLC‡<br> 7.811%, 11/09/29<br> 1 mo. SOFR + 3.25% |  | 294211 |  |
| 147609 | &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting, Inc.‡<br> 7.070%, 09/18/26<br> 1 mo. LIBOR + 2.50% |  | 147855 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | |
| 293846 | &nbsp;&nbsp;&nbsp;&nbsp; SBA Senior Finance II, LLC‡<br> 6.320%, 04/11/25<br> 1 mo. LIBOR + 1.75% | $| 293762 |  |
|  |  |  | 735828 |  |
|  | ***Consumer Discretionary (0.7%)*** | ***Consumer Discretionary (0.7%)*** | ***Consumer Discretionary (0.7%)*** | **** |
| 245625 | &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc.‡<br> 6.120%, 01/31/28<br> 1 mo. LIBOR + 1.75% |  | 247238 |  |
|  | ***Energy (0.2%)*** |  |  |  |
| 49916 | &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc.‡<br> 6.570%, 06/26/28<br> 1 mo. LIBOR + 2.00% |  | 50093 |  |
|  | ***Financials (0.4%)*** |  |  |  |
| 133234 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Financing Lux Sarl‡<br> 8.070%, 05/05/28<br> 1 mo. LIBOR + 3.50% |  | 133255 |  |
|  | ***Health Care (1.4%)*** | ***Health Care (1.4%)*** | ***Health Care (1.4%)*** | **** |
| 294750 | &nbsp;&nbsp;&nbsp;&nbsp; Catalent Pharma Solutions Inc.‡<br> 6.563%, 02/22/28<br> 1 mo. LIBOR + 2.00% |  | 294319 |  |
| 152459 | &nbsp;&nbsp;&nbsp;&nbsp; Icon Luxembourg Sarl‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% |  | 152651 |  |
| 37985 | &nbsp;&nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc.‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% |  | 38033 |  |
|  |  |  | 485003 |  |
|  | ***Industrials (4.1%)*** |  |  |  |
| 295500 | &nbsp;&nbsp;&nbsp;&nbsp; AECOM Technology Corp.‡<br> 6.320%, 04/13/28<br> 1 mo. LIBOR + 1.75% |  | 295838 |  |
| 223858 | &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.‡<br> 7.297%, 01/03/29<br> 1 mo. LIBOR + 2.75% |  | 224138 |  |
| 245625 | &nbsp;&nbsp;&nbsp;&nbsp; Horizon Therapeutics USA, Inc.‡<br> 6.313%, 03/15/28<br> 3 mo. LIBOR + 1.75% |  | 246047 |  |
| 179200 | &nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands, Inc.‡<br> 6.740%, 03/03/28<br> 3 mo. LIBOR + 2.00% |  | 179088 |  |
| 135200 | &nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands, Inc.‡<br> 6.570%, 03/03/28<br> 1 mo. LIBOR + 2.00% |  | 135116 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Summit Materials, LLC‡<br> 7.608%, 12/14/27<br> 1 mo. SOFR + 3.00% |  | 100396 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; XPO Logistics, Inc.‡<br> 6.134%, 02/24/25<br> 1 mo. LIBOR + 1.75% |  | 249648 |  |
|  |  |  | 1430271 |  |
|  | ***Information Technology (0.6%)*** | ***Information Technology (0.6%)*** | ***Information Technology (0.6%)*** | **** |
| 201773 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.‡<br> 6.661%, 09/19/26<br> 1 mo. LIBOR + 2.00% |  | 202223 |  |
|  | ***Materials (0.4%)*** | ***Materials (0.4%)*** | ***Materials (0.4%)*** | **** |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle and Manufacturing, Inc.‡<br> 8.033%, 12/13/29<br> 1 mo. SOFR + 3.60% |  | 100167 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL <br>AMOUNT** | | **VALUE** | **VALUE** | |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B B.V‡<br> 7.506%, 12/20/29<br> 3 mo. SOFR + 3.00% | $| 45253 |  |
|  |  |  | 145420 |  |
|  | **TOTAL BANK LOANS**<br> (Cost $3,611,592) |  | 3619591 |  |
| **SOVEREIGN BOND (1.0%)** | **SOVEREIGN BOND (1.0%)** | **SOVEREIGN BOND (1.0%)** | **SOVEREIGN BOND (1.0%)** |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Province of Ontario Canada<br> 1.800%, 10/14/31<br> (Cost $398,976) |  | 337544 |  |
| **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (26.0%)** | **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (26.0%)** | **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (26.0%)** | **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (26.0%)** |  |
|  | ***Other (26.0%)*** | ***Other (26.0%)*** | ***Other (26.0%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Pool | &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Pool | &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Pool |  |
| 155472 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 05/01/49 |  | 152152 |  |
| 92626 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/01/35 |  | 87188 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association | &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association | &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association |  |
| 631218 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 04/01/50 |  | 558962 |  |
| 549445 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 04/01/50 |  | 505247 |  |
| 453984 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 04/01/50 |  | 432197 |  |
| 278418 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/46 |  | 258831 |  |
| 177984 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 03/01/47 |  | 165462 |  |
| 155581 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 08/01/47 |  | 148659 |  |
| 141191 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 09/01/31 |  | 134159 |  |
| 133198 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 11/01/49 |  | 126644 |  |
| 114041 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 06/01/48 |  | 111922 |  |
| 109032 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/01/33 |  | 105435 |  |
| 88279 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/48 |  | 88547 |  |
| 78613 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/01/49 |  | 75095 |  |
| 68627 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/01/49 |  | 63168 |  |
| 57315 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 01/01/35 |  | 55254 |  |
| 50985 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 03/01/47 |  | 50055 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association II Pool | &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association II Pool | &nbsp;&nbsp;&nbsp;&nbsp; Government National Mortgage Association II Pool |  |
| 154847 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 10/20/47 |  | 149032 |  |
| 117163 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 10/20/47 |  | 109558 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Bond |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 02/15/39 |  | 495273 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 05/15/47 |  | 440234 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 08/15/49 |  | 379141 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 02/15/50 |  | 357422 |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 05/15/40 |  | 266875 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 02/15/49 |  | 265500 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/42 |  | 206688 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 05/15/52 |  | 172516 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 11/15/49 |  | 97305 |  |
| 474329 | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Bond<br> 0.750%, 02/15/42 |  | 414322 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Note |  |  |  |
| 820746 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 01/15/28 |  | 785897 |  |
| 386647 | &nbsp;&nbsp;&nbsp;&nbsp; 0.125%, 01/15/32 |  | 349416 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note |  |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.875%, 02/15/32 |  | 329297 |  |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 08/15/52^ |  | 309941 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 11/15/32 |  | 315773 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 12/31/24 |  | 200016 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/31/27^ |  | 202320 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** | **VALUE** |
|  | **TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES**<br> (Cost $10,147,806) | $| 8965503 |
| **RESIDENTIAL MORTGAGE BACKED SECURITIES<br>(10.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES<br>(10.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES<br>(10.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES<br>(10.0%)** |
|  | ***Other (10.0%)*** |  |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; BX Trust Series 2019-OC11, Class A\*<br> 3.202%, 12/09/41 |  | 88307 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association |  |  |
| 846658 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 07/01/51 |  | 745429 |
| 620954 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/52 |  | 613360 |
| 543360 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/01/52 |  | 524547 |
| 494049 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/52 |  | 501997 |
| 491901 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/01/52 |  | 485885 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Freddie Mac Multifamily Structured Pass Through Certificates, Class A2‡<br> 3.990%, 05/25/33 |  | 497326 |
|  | **TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES**<br> (Cost $3,664,528) |  | 3456851 |
| **ASSET BACKED SECURITIES (6.9%)** | **ASSET BACKED SECURITIES (6.9%)** | **ASSET BACKED SECURITIES (6.9%)** | **ASSET BACKED SECURITIES (6.9%)** |
|  | ***Communication Services (0.3%)*** |  |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile U.S. Trust\*<br> 4.910%, 05/22/28 |  | 100419 |
|  | ***Financials (3.5%)*** |  |  |
| 117115 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2021-AGS, Class A\*<br> 1.200%, 03/25/52 |  | 100891 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Dell Equipment Finance Trust Series 2021-1, Class B\*<br> 0.710%, 05/22/26 |  | 145273 |
| 93895 | &nbsp;&nbsp;&nbsp;&nbsp; ELFI Graduate Loan Program, LLC Series 2022-A, Class A\*<br> 4.510%, 08/26/47 |  | 92281 |
| 55000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Fleet Financing, LLC Series 2022-4, Class A2\*<br> 5.760%, 10/22/29 |  | 55710 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Hertz Vehicle Financing III, LP Series 2021-2A, Class A\*<br> 1.680%, 12/27/27 |  | 132688 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar US Funding Trust XII, LLC Series 2021-1A, Class A4\*<br> 1.000%, 04/10/28 |  | 138686 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Pawnee Equipment Receivables, LLC Series 2022-1, Class A3\*<br> 5.170%, 02/15/28 |  | 109387 |
| 237000 | &nbsp;&nbsp;&nbsp;&nbsp; Progress Residentiall Trust Series 2021-SFR5, Class B\*<br> 1.658%, 07/17/38 |  | 209400 |
| 101896 | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Professional Loan Program, LLC Series 2017-F, Class A2FX\*<br> 2.840%, 01/25/41 |  | 98475 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Toyota Auto Loan Extended Note Trust Series 2019-1A, Class A\*<br> 2.560%, 11/25/31 |  | 145260 |
|  |  |  | 1228051 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
|  | ***Other (3.1%)*** |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer, LLC Series 2021-1A, Class A2\*<br> 1.937%, 08/15/46 | $132801 |
| 92273 | &nbsp;&nbsp;&nbsp;&nbsp; Amur Equipment Finance Receivables VIII, LLC Series 2020 -1A, Class C\*<br> 3.060%, 04/20/26 | 90677 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Amur Equipment Finance Receivables VIII, LLC Series 2020 -2A, Class A2\*<br> 5.300%, 06/21/28 | 99522 |
| 110500 | &nbsp;&nbsp;&nbsp;&nbsp; CLI Funding VI, LLC Series 2020- 3A, Class A\*<br> 2.070%, 10/18/45 | 98351 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Daimler Trucks Retail Trust Series 2022-1, Class A3<br> 5.230%, 02/17/26 | 100126 |
| 123251 | &nbsp;&nbsp;&nbsp;&nbsp; MVW Owner Trust Series 2019- 1A, Class A\*<br> 2.890%, 11/20/36 | 116499 |
| 59692 | &nbsp;&nbsp;&nbsp;&nbsp; SCF Equipment Leasing, LLC Series 2020-1A, Class A3\*<br> 1.190%, 10/20/27 | 58477 |
| 177280 | &nbsp;&nbsp;&nbsp;&nbsp; SCF Equipment Leasing, LLC Series 2021-1A, Class A3\*<br> 0.830%, 08/21/28 | 169702 |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust Series 2021-B, Class B\*<br> 0.910%, 09/22/25 | 209618 |
|  |  | 1075773 |
|  | **TOTAL ASSET BACKED SECURITIES**<br> (Cost $2,551,548) | 2404243 |
| **NUMBER OF<br>SHARES/<br>PRINCIPAL<br>AMOUNT** |  | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (3.7%)** |
| 1290528 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%†<br> (Cost $1,290,528) | 1290528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (101.4%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (101.4%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $38,106,297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $38,106,297) | 35023052 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.7%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-3.7%) | (1290528) |
| OTHER ASSETS, LESS LIABILITIES (2.3%) | OTHER ASSETS, LESS LIABILITIES (2.3%) | 799127 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $34531651 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Total Return Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

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

---

| | |
|:---|:---|
| **&** | Illiquid security.  |

---

---

| | |
|:---|:---|
| **¡** | 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.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FUTURES CONTRACTS** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| Number of<br>Contracts | Description | Expiration<br>Date | Notional<br>Value | Market Value/<br>Unrealized<br>Appreciation<br>(Depreciation) |
|  Buys |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;900000 | U.S. Treasury Note 5-Year | Mar 2023 | $983180 | $5768 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| **CORPORATE BONDS (84.7%)** | **CORPORATE BONDS (84.7%)** |  |
|  | ***Airlines (1.7%)*** |  |
| 141125 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust Series 2015-1, Class B\*<br> 3.875%, 09/15/24 | $140576 |
| 19667 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust Series 2015-2, Class B\*<br> 5.000%, 06/15/25 | 19171 |
| 96971 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust Series 2020-1, Class A\*<br> 4.800%, 02/15/29 | 94668 |
| 54020 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust Series 2020-1, Class B\*<br> 8.000%, 02/15/27 | 55102 |
| 105438 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust Series 2021-1, Class B\*<br> 3.900%, 03/15/33 | 90154 |
| 62514 | &nbsp;&nbsp;&nbsp;&nbsp; JetBlue Pass Through Trust Series 2020-1, Class B<br> 7.750%, 05/15/30 | 61712 |
| 123000 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.\*<br> 8.000%, 09/20/25 | 125757 |
| 40050 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines Pass Through Trust Series 2019-2, Class B<br> 3.500%, 11/01/29 | 35979 |
|  |  | 623119 |
|  | ***Communication Services (8.7%)*** |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Altice France, SA\*<br> 5.500%, 10/15/29 | 158226 |
| 115000 | &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.\*<br> 4.750%, 10/15/29 | 103837 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Arrow Bidco, LLC\*<br> 9.500%, 03/15/24 | 150856 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.\*<br> 2.450%, 08/12/31 | 161598 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Audacy Capital Corp.\* |  |
| 119000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 03/31/29 | 21385 |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 05/01/27 | 7661 |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; Beasley Mezzanine Holdings, LLC\*^ |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 02/01/26 | 42510 |
| 76000 | &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Bell Telephone Company, LLC<br> 6.300%, 12/01/28 | 68464 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.\*<br> 8.875%, 12/15/27 | 19593 |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Communications, Inc.\*^<br> 6.500%, 10/01/28 | 118537 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CSC Holdings, LLC\* |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/28 | 210335 |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 11/15/31 | 162325 |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/30 | 135893 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Diamond Sports Group, LLC / Diamond Sports Finance Company\* |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 08/15/27 | 1574 |
| 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 08/15/26 | 4065 |
| 127000 | &nbsp;&nbsp;&nbsp;&nbsp; Directv Financing, LLC / Directv Financing Co-Obligor, Inc.\*<br> 5.875%, 08/15/27 | 115235 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 66000 | &nbsp;&nbsp;&nbsp;&nbsp; Embarq Corp.<br> 7.995%, 06/01/36 | $31887 |
| 101000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier California, Inc.<br> 6.750%, 05/15/27 | 95740 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Communications Holdings, LLC\* |  |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 05/01/28 | 54500 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.750%, 05/15/30 | 24882 |
| 101000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier Florida, LLC@<br> 6.860%, 02/01/28 | 93955 |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; Frontier North, Inc.@<br> 6.730%, 02/15/28 | 129643 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating Company, LLC / GD Finance Company, Inc.\* |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 | 77963 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/27 | 24243 |
| 30000 | &nbsp;&nbsp;&nbsp;&nbsp; Hughes Satellite Systems Corp.<br> 5.250%, 08/01/26 | 29291 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Jackson Holdings, SA\*@& |  |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 9.750%, 07/15/25 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 08/01/23 |  |
| 70597 | &nbsp;&nbsp;&nbsp;&nbsp; Ligado Networks, LLC\*<br> 15.500%, 11/01/23 15.500% PIK rate | 24720 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Lumen Technologies, Inc. |  |
| 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.600%, 09/15/39 | 68372 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 01/15/29\* | 32303 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Match Group Holdings II, LLC\* 3.625%, 10/01/31 | 38568 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc. |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 06/15/30\* | 79301 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 04/15/28 | 45011 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Paramount Global‡<br> 6.375%, 03/30/62 5 year CMT + 4.00% | 41814 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow II, Inc.\* |  |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 01/15/29 | 38660 |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/31 | 18575 |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; Scripps Escrow, Inc.\*<br> 5.875%, 07/15/27 | 75979 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc.\* |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 07/01/29 | 117442 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 07/15/28 | 64101 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 09/01/26 | 45132 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/01/31 | 19771 |
| 40000 | &nbsp;&nbsp;&nbsp;&nbsp; Spanish Broadcasting System, Inc.\*<br> 9.750%, 03/01/26 | 23650 |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; Sprint, LLC<br> 7.125%, 06/15/24 | 86958 |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; Stagwell Global, LLC\*<br> 5.625%, 08/15/29 | 70203 |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; Telecom Italia Capital, SA<br> 6.000%, 09/30/34 | 64291 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; Telesat Canada / Telesat, LLC\*<br> 4.875%, 06/01/27 | 45103 |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; Time Warner Cable, LLC<br> 7.300%, 07/01/38 | 37639 |
| 151000 | &nbsp;&nbsp;&nbsp;&nbsp; United States Cellular Corp.<br> 6.700%, 12/15/33 | 140536 |
|  |  | 3222327 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** | **VALUE** |
|  | ***Consumer Discretionary (15.5%)*** | ***Consumer Discretionary (15.5%)*** | **** |
| 113000 | &nbsp;&nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Company\*^<br> 8.750%, 07/15/25 | $114272 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle & Manufacturing, Inc.^<br> 6.875%, 07/01/28 | 87588 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ashton Woods USA, LLC / Ashton Woods Finance Company\* |  |  |
| 84000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 08/01/29 | 70193 |  |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 01/15/28 | 65909 |  |
| 118000 | &nbsp;&nbsp;&nbsp;&nbsp; At Home Group, Inc.\*^<br> 4.875%, 07/15/28 | 86315 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bath & Body Works, Inc. |  |  |
| 123000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.694%, 01/15/27 | 123994 |  |
| 115000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/01/35 | 106137 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\* |  |  |
| 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 10/15/29^ | 52159 |  |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.125%, 07/01/27^ | 46730 |  |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 07/01/25 | 45858 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Carnival Corp.\* |  |  |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 02/01/26 | 46072 |  |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.625%, 03/01/26^ | 20955 |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Carriage Services, Inc.\* |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 05/15/29 | 90607 |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; Carvana Company\*<br> 4.875%, 09/01/29 | 29036 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CCO Holdings, LLC / CCO Holdings Capital Corp.\* |  |  |
| 201000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 02/01/31 | 167586 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 05/01/27 | 190780 |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/01/29 | 106246 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 03/01/30 | 87532 |  |
| 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/01/28 | 51371 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 08/15/30 | 42781 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 | 40840 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; CDI Escrow Issuer, Inc.\*<br> 5.750%, 04/01/30 | 45549 |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; Cedar Fair, LP^<br> 5.250%, 07/15/29 | 69145 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Dana, Inc. |  |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 09/01/30 | 68070 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/15/32 | 40506 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DISH DBS Corp. |  |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 12/01/26\* | 107792 |  |
| 77000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.750%, 07/01/26 | 62569 |  |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.375%, 07/01/28 | 43208 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 06/01/29 | 28690 |  |
| 88000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.\*<br> 11.750%, 11/15/27 | 91351 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Empire Resorts, Inc.\*<br> 7.750%, 11/01/26 | 164094 |  |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp; Everi Holdings, Inc.\*<br> 5.000%, 07/15/29 | 96901 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Company<br> 6.100%, 08/19/32 | 98232 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Company, LLC |  |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.113%, 05/03/29 | 189750 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/13/30 | 174824 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.900%, 02/16/28 | 173092 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gap, Inc.\* |  |  |
| 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 10/01/31 | 26999 |  |
| 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 10/01/29 | 3848 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; goeasy, Ltd.\* |  |  |
| 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/24 | 153538 |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 | 71866 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 112000 | &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Company^<br> 5.000%, 07/15/29 | $98861 |
| 41000 | &nbsp;&nbsp;&nbsp;&nbsp; Group 1 Automotive, Inc.\*<br> 4.000%, 08/15/28 | 36075 |
| 148000 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.\*^<br> 8.500%, 01/15/26 | 129473 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; International Game Technology, PLC\*<br> 6.250%, 01/15/27 | 201108 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Liberty Interactive, LLC<br> 8.250%, 02/01/30 | 44866 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Life Time, Inc.\* |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 04/15/26^ | 63221 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/26 | 48392 |
| 62000 | &nbsp;&nbsp;&nbsp;&nbsp; Lindblad Expeditions, LLC\*<br> 6.750%, 02/15/27 | 60797 |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; M/I Homes, Inc.<br> 3.950%, 02/15/30 | 54761 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Macy's Retail Holdings, LLC |  |
| 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.700%, 07/15/34\* | 83738 |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 03/15/30\* | 54961 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 02/15/43 | 31052 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Mclaren Finance, PLC\*<br> 7.500%, 08/01/26 | 151488 |
| 112000 | &nbsp;&nbsp;&nbsp;&nbsp; Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.\*<br> 4.875%, 05/01/29 | 99170 |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority\*<br> 8.000%, 02/01/26 | 123289 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc.^ |  |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/15/27 | 25166 |
| 13000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 09/15/29 | 13193 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordstrom, Inc. |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/15/44 | 33697 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/01/31 | 36145 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Penn Entertainment, Inc.\*^<br> 4.125%, 07/01/29 | 91279 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.\*^<br> 5.625%, 09/01/29 | 98374 |
| 224000 | &nbsp;&nbsp;&nbsp;&nbsp; Rite Aid Corp.\*<br> 8.000%, 11/15/26 | 125164 |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; Simmons Foods, Inc. / Simmons |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed\*<br> 4.625%, 03/01/29 | 110422 |
| 108000 | &nbsp;&nbsp;&nbsp;&nbsp; Sonic Automotive, Inc.\*^<br> 4.625%, 11/15/29 | 89899 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Speedway Motorsports, LLC / Speedway Funding II, Inc.\*<br> 4.875%, 11/01/27 | 65758 |
| 185000 | &nbsp;&nbsp;&nbsp;&nbsp; Station Casinos, LLC\*<br> 4.500%, 02/15/28 | 166707 |
| 59000 | &nbsp;&nbsp;&nbsp;&nbsp; Taylor Morrison Communities, Inc.\*<br> 5.750%, 01/15/28 | 57300 |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises, Ltd.\*<br> 13.000%, 05/15/25 | 24411 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Vista Outdoor, Inc.\*<br> 4.500%, 03/15/29 | 81080 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*<br> 4.625%, 08/15/28 | $21331 |
|  |  | 5704163 |
|  | ***Consumer Staples (3.9%)*** |  |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp; Central Garden & Pet Company\*<br> 4.125%, 04/30/31 | 89896 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Edgewell Personal Care Company\*<br> 4.125%, 04/01/29 | 95924 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Energizer Holdings, Inc.\* |  |
| 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/31/29 | 110268 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 12/31/27 | 23462 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.\* |  |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/30 | 136139 |
| 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 02/01/28 | 103001 |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/01/33 | 34475 |
| 63000 | &nbsp;&nbsp;&nbsp;&nbsp; New Albertsons, LP<br> 7.750%, 06/15/26 | 64167 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Performance Food Group, Inc.\*<br> 4.250%, 08/01/29 | 85781 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc. / PetSmart Finance Corp.\*<br> 4.750%, 02/15/28 | 232328 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.\* |  |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 09/30/27 | 79434 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 04/15/31 | 65106 |
| 39000 | &nbsp;&nbsp;&nbsp;&nbsp; Post Holdings, Inc.\*<br> 5.750%, 03/01/27 | 38488 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Prestige Brands, Inc.\*<br> 3.750%, 04/01/31 | 76463 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; United Natural Foods, Inc.\*<br> 6.750%, 10/15/28 | 96657 |
| 142000 | &nbsp;&nbsp;&nbsp;&nbsp; Vector Group, Ltd.\*<br> 5.750%, 02/01/29 | 124071 |
|  |  | 1455660 |
|  | ***Energy (9.7%)*** |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Antero Resources Corp.\*<br> 5.375%, 03/01/30 | 84017 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Apache Corp.<br> 5.100%, 09/01/40 | 78638 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Buckeye Partners, LP |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 12/01/26 | 68901 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.850%, 11/15/43 | 38469 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; Callon Petroleum Company\*<br> 7.500%, 06/15/30 | 130769 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; Cheniere Energy, Inc.<br> 4.625%, 10/15/28 | 42920 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.\*<br> 6.750%, 04/15/29 | 71109 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Continental Resources, Inc.\* |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 04/01/32 | 58885 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 01/15/31 | 44227 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; DCP Midstream Operating, LP\*‡<br> 5.850%, 05/21/43<br> 3 mo. USD LIBOR + 3.85% | 123815 |
| 1745 | &nbsp;&nbsp;&nbsp;&nbsp; Diamond Foreign Asset Company / Diamond Finance, LLC<br> 9.000%, 04/22/27 13.000% PIK rate | 1689 |
| 76000 | &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc.\*<br> 4.125%, 06/15/29 | 67119 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 146000 | &nbsp;&nbsp;&nbsp;&nbsp; Earthstone Energy Holdings, LLC\*^<br> 8.000%, 04/15/27 | $142572 |
| 55000 | &nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc.‡<br> 7.375%, 01/15/83 5 year CMT + 3.71% | 55089 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP‡ |  |
| 140000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.831%, 11/01/66 3 mo. USD LIBOR + 3.02% | 113462 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 11/15/26 5 year CMT + 5.69% | 66059 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EnLink Midstream Partners, LP |  |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.879%, 03/03/23‡ 3 mo. USD LIBOR + 4.11% | 101020 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.850%, 07/15/26 | 97276 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Enlink Midstream, LLC\*<br> 6.500%, 09/01/30 | 51028 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners, LP\*<br> 7.500%, 06/01/27 | 110416 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Genesis Energy, LP / Genesis Energy Finance Corp. |  |
| 77000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 05/15/26^ | 73891 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.875%, 04/15/30 | 25423 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp. |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 05/15/25@& |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/17/26\* | 74514 |
| 27505 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 05/17/26 | 27327 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Hilcorp Energy I, LP / Hilcorp Finance Company\*<br> 6.000%, 04/15/30 | 103093 |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners, LLC\*<br> 6.750%, 01/15/27 | 70294 |
| 89000 | &nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating, LLC / Magnolia Oil & Gas Finance Corp.\*<br> 6.000%, 08/01/26 | 86218 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Moss Creek Resources Holdings, Inc.\* |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 01/15/26 | 46236 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.500%, 05/15/27 | 43762 |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; MPLX, LP‡<br> 6.875%, 02/15/23 3 mo. LIBOR + 4.65% | 85054 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; Nabors Industries, Inc.\*<br> 7.375%, 05/15/27 | 45094 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; New Fortress Energy, Inc.\* |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/15/25 | 92215 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/30/26 | 41589 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Par Petroleum, LLC / Par Petroleum Finance Corp.\*<br> 7.750%, 12/15/25 | 88923 |
| 105000 | &nbsp;&nbsp;&nbsp;&nbsp; Parkland Corp.\*<br> 5.875%, 07/15/27 | 100953 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Patterson-UTI Energy, Inc.<br> 5.150%, 11/15/29 | 93426 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Plains All American Pipeline, LP‡<br> 8.716%, 03/03/23 3 mo. USD LIBOR + 4.11% | 90488 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Rockcliff Energy II, LLC\*<br> 5.500%, 10/15/29 | 85809 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Southwestern Energy Company |  |
| 73000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 03/15/30 | 68081 |
| 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/32 | 43229 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 02/01/29 | 42332 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; Sunoco, LP / Sunoco Finance Corp.<br> 4.500%, 04/30/30 | $21422 |
| 51000 | &nbsp;&nbsp;&nbsp;&nbsp; Transocean, Inc.\*<br> 8.750%, 02/15/30 | 52700 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass, LLC\* |  |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 08/15/31 | 22220 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/15/29 | 22325 |
| 5000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 01/15/30 | 5100 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Vital Energy, Inc. |  |
| 99000 | &nbsp;&nbsp;&nbsp;&nbsp; 10.125%, 01/15/28^ | 98740 |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 9.500%, 01/15/25 | 46458 |
| 105000 | &nbsp;&nbsp;&nbsp;&nbsp; VOC Escrow, Ltd.\*<br> 5.000%, 02/15/28 | 92575 |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; W&T Offshore, Inc.\*<br> 9.750%, 11/01/23 | 70063 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Weatherford International, Ltd.\* |  |
| 103000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.500%, 09/15/28 | 102657 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.625%, 04/30/30 | 75691 |
|  |  | 3585382 |
|  | ***Financials (16.1%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Acrisure, LLC / Acrisure Finance, Inc.\* |  |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 08/01/29 | 118984 |
| 127000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 11/15/25 | 121074 |
| 133000 | &nbsp;&nbsp;&nbsp;&nbsp; Aethon United BR, LP / Aethon United Finance Corp.\*<br> 8.250%, 02/15/26 | 132480 |
| 147000 | &nbsp;&nbsp;&nbsp;&nbsp; AG Issuer, LLC\*<br> 6.250%, 03/01/28 | 139106 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate, LLC / Alliant Holdings Co-Issuer\* |  |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 10/15/27 | 192124 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 11/01/29 | 21814 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 10/15/27 | 22958 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  |
| 101000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/26‡<br> 5 year CMT + 3.87% | 83204 |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 11/01/31 | 82420 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.700%, 05/15/28‡<br> 7 year CMT + 3.48% | 34706 |
| 193000 | &nbsp;&nbsp;&nbsp;&nbsp; AmWINS Group, Inc.\*<br> 4.875%, 06/30/29 | 170315 |
| 80000 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.\*<br> 7.000%, 08/15/25 | 79070 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; Aviation Capital Group, LLC\*<br> 3.500%, 11/01/27 | 88044 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd.\* |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 07/01/24 | 48525 |
| 40000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 | 39209 |
| 191000 | &nbsp;&nbsp;&nbsp;&nbsp; BroadStreet Partners, Inc.\*<br> 5.875%, 04/15/29 | 168842 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Property REIT, Inc. / |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; BPR Cumulus, LLC / BPR Nimbus, LLC / GGSI Sellco, LLC\* |  |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 04/01/27 | 172199 |
| 116000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 05/15/26 | 109427 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Burford Capital Global Financial, LLC\*<br> 6.875%, 04/15/30 | 183030 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Castlelake Aviation Finance DAC\*^<br> 5.000%, 04/15/27 | 100762 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp. |  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.625%, 03/15/26^ | $119025 |
| 89000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 12/31/24\* | 83771 |
| 123000 | &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc.\*<br> 6.500%, 08/15/25 | 121347 |
| 138000 | &nbsp;&nbsp;&nbsp;&nbsp; Global Net Lease, Inc. / Global Net Lease Operating Partnership, LP\*<br> 3.750%, 12/15/27 | 116651 |
| 156000 | &nbsp;&nbsp;&nbsp;&nbsp; Greystar Real Estate Partners, LLC\*<br> 5.750%, 12/01/25 | 154172 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; HUB International, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp; HUB International, Ltd.\* |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.625%, 12/01/29^ | 135131 |
| 149000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 05/01/26 | 148411 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Icahn Enterprises, LP / Icahn Enterprises Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp; Icahn Enterprises, LP / Icahn Enterprises Finance Corp. |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/27 | 65591 |
| 68000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 02/01/29 | 59329 |
| 160000 | &nbsp;&nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II\*‡<br> 6.538%, 12/21/65 3 mo. USD LIBOR + 1.80% | 108034 |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; Iron Mountain, Inc.\*<br> 5.250%, 03/15/28 | 185617 |
| 260000 | &nbsp;&nbsp;&nbsp;&nbsp; Jefferies Finance, LLC / JFIN Co- Issuer Corp.\*<br> 5.000%, 08/15/28 | 222479 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.\* |
| 182000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/25 | 175359 |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 06/15/29 | 39936 |
| 138000 | &nbsp;&nbsp;&nbsp;&nbsp; LD Holdings Group, LLC\*<br> 6.125%, 04/01/28 | 90131 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\* |
| 204000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 11/15/29 | 165571 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 07/01/28 | 87267 |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; LPL Holdings, Inc.\*<br> 4.000%, 03/15/29 | 58207 |
| 193000 | &nbsp;&nbsp;&nbsp;&nbsp; MetLife, Inc. 6.400%, 12/15/66 | 197867 |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings, Inc.\*<br> 5.500%, 08/15/28 | 113719 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp. | &nbsp;&nbsp;&nbsp;&nbsp; Navient Corp. |
| 202000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/15/27 | 184666 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.875%, 03/15/28 | 88595 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Necessity Retail REIT, Inc. / American Finance Operating Partner, LP\*<br> 4.500%, 09/30/28 | 84618 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance Corp. | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance Corp. |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 09/15/28 | 54834 |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 03/15/26 | 34842 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; Park Intermediate Holdings, LLC / PK Domestic Property, LLC / PK Finance Co-Issuer\*<br> 5.875%, 10/01/28 | 41680 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; PHH Mortgage Corp.\*<br> 7.875%, 03/15/26 | 137324 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc.^‡<br> 6.000%, 05/15/27<br> 5 year CMT + 3.00% | 24838 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; RHP Hotel Properties, LP / RHP Finance Corp.\*<br> 4.500%, 02/15/29 | 89501 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | **VALUE** | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.\* |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/01/31 | $36731 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/01/29 | 38026 |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 10/15/26 | 17860 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.\*<br> 8.625%, 06/15/25 | 91276 |
| 22000 | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group^‡<br> 4.000%, 05/15/26 5 year CMT + 3.20% | 17696 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; United Wholesale Mortgage, LLC\* |  |
| 111000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/15/29 | 95611 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 06/15/27 | 45073 |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Uniti Group, LP / Uniti Group Finance, Inc. / CSL Capital, LLC\*<br> 6.500%, 02/15/29 | 34625 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; VZ Secured Financing, BV\*<br> 5.000%, 01/15/32 | 171498 |
| 98000 | &nbsp;&nbsp;&nbsp;&nbsp; XHR, LP\*<br> 6.375%, 08/15/25 | 97253 |
|  |  | 5942455 |
|  | ***Health Care (6.5%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.\* |  |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; 11.000%, 09/30/28 | 164984 |
| 39000 | &nbsp;&nbsp;&nbsp;&nbsp; 14.000%, 10/15/30 | 25189 |
| 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/27 | 24591 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CHS/Community Health Systems, Inc.\* |  |
| 183000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 04/01/30 | 111187 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 8.000%, 03/15/26 | 106952 |
| 49000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 04/15/29 | 31037 |
| 12000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 05/15/30 | 9692 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.\* |  |
| 189000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 06/01/30 | 159350 |
| 112000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 02/15/31 | 87209 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Embecta Corp.\* |  |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 02/15/30 | 59370 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 02/15/30 | 21649 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Encompass Health Corp. |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 02/01/30 | 41302 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 02/01/28 | 42054 |
| 124000 | &nbsp;&nbsp;&nbsp;&nbsp; HCA, Inc.<br> 7.500%, 11/06/33 | 137571 |
| 210000 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Securities DAC\*<br> 4.375%, 01/15/29 | 192219 |
| 19000 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt International Finance, SA / Mallinckrodt CB, LLC\*<br> 10.000%, 06/15/29 | 10925 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Medline Borrower, LP\* |  |
| 122000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 10/01/29 | 102540 |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 04/01/29 | 102782 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company / Organon Foreign Debt Co-Issuer, BV\*<br> 5.125%, 04/30/31 | 180382 |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc.\*<br> 6.375%, 02/01/25 | 71508 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp. |  |
| 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 02/01/27 | 215809 |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 11/15/31 | 120503 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III, BV |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.000%, 04/15/24 | 199716 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.150%, 10/01/26 | 179546 |
|  |  | 2398067 |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** | **VALUE** |
|  | ***Industrials (12.9%)*** | ***Industrials (12.9%)*** | **** |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; ACCO Brands Corp.\*<br> 4.250%, 03/15/29 | $86584 |  |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Holdings, NV^‡<br> 5.875%, 10/10/79 5 year CMT + 4.54% | 143661 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp.‡<br> 4.125%, 12/15/26 5 year CMT + 3.15% | 73886 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\* | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\* |  |
| 155000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/27 | 147489 |  |
| 91000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/15/29 | 78548 |  |
| 75000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 02/15/28 | 73397 |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Company\*<br> 7.250%, 08/15/27 | 107984 |  |
| 20000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Group, Inc.\*^<br> 3.750%, 03/01/25 | 18715 |  |
| 114600 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines Pass Through Trust Series 2021-1, Class B<br> 3.950%, 01/11/32 | 97195 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.\* | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.\* |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 04/20/26 | 63797 |  |
| 22000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 04/20/29 | 21318 |  |
| 49000 | &nbsp;&nbsp;&nbsp;&nbsp; Arcosa, Inc.\*<br> 4.375%, 04/15/29 | 43813 |  |
| 225000 | &nbsp;&nbsp;&nbsp;&nbsp; ARD Finance, SA\*<br> 6.500%, 06/30/27 7.250% PIK rate | 176812 |  |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp.<br> 6.875%, 03/15/28 | 36157 |  |
| 68000 | &nbsp;&nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc.\*<br> 4.125%, 05/15/29 | 58636 |  |
| 87000 | &nbsp;&nbsp;&nbsp;&nbsp; BWX Technologies, Inc.\*<br> 4.125%, 04/15/29 | 78738 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Cascades, Inc. / Cascades USA, Inc.\* |  |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 01/15/28 | 46685 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.125%, 01/15/26 | 42135 |  |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.<br> 7.375%, 01/15/26 | 24087 |  |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. / SkyMiles IP, Ltd.\* 4.750%, 10/20/28 | 22380 |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Deluxe Corp.\*<br> 8.000%, 06/01/29 | 107185 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.\*<br> 5.000%, 12/15/29 | 42870 |  |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; Eco Material Technologies, Inc.\*<br> 7.875%, 01/31/27 | 69407 |  |
| 120000 | &nbsp;&nbsp;&nbsp;&nbsp; Endurance International Group Holdings, Inc.\*<br> 6.000%, 02/15/29 | 87154 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; EnerSys\*<br> 4.375%, 12/15/27 | 41615 |  |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Fly Leasing, Ltd.\*<br> 7.000%, 10/15/24 | 61045 |  |
| 57000 | &nbsp;&nbsp;&nbsp;&nbsp; Graham Packaging Company, Inc.\*<br> 7.125%, 08/15/28 | 50172 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Granite US Holdings Corp.\*<br> 11.000%, 10/01/27 | 52771 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC\* |  |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 07/15/27 | $57816 |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 03/01/29 | 38791 |
| 107000 | &nbsp;&nbsp;&nbsp;&nbsp; Great Lakes Dredge & Dock Corp.\*<br> 5.250%, 06/01/29 | 90364 |
| 223000 | &nbsp;&nbsp;&nbsp;&nbsp; H&E Equipment Services, Inc.\*<br> 3.875%, 12/15/28 | 196931 |
| 144000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.\*<br> 5.750%, 01/20/26 | 137792 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Herc Holdings, Inc.\*<br> 5.500%, 07/15/27 | 119917 |
| 115000 | &nbsp;&nbsp;&nbsp;&nbsp; IEA Energy Services, LLC\*<br> 6.625%, 08/15/29 | 112985 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; JELD-WEN, Inc.\*<br> 4.625%, 12/15/25 | 97481 |
| 155000 | &nbsp;&nbsp;&nbsp;&nbsp; Ken Garff Automotive, LLC\*<br> 4.875%, 09/15/28 | 133695 |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; MasTec, Inc.\*<br> 4.500%, 08/15/28 | 42670 |
| 60000 | &nbsp;&nbsp;&nbsp;&nbsp; Moog, Inc.\*<br> 4.250%, 12/15/27 | 55700 |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; Novelis Corp.\*<br> 4.750%, 01/30/30 | 86937 |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; OI European Group, BV\*<br> 4.750%, 02/15/30 | 31496 |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Pactiv Evergreen Group Issuer, Inc. / Pactiv Evergreen Group Issuer, LLC\*<br> 4.000%, 10/15/27 | 99012 |
| 148000 | &nbsp;&nbsp;&nbsp;&nbsp; Patrick Industries, Inc.\*<br> 4.750%, 05/01/29 | 126647 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; QVC, Inc. |  |
| 61000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 09/01/28 | 39220 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.450%, 08/15/34 | 26611 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sealed Air Corp.\* |  |
| 78000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/28 | 78757 |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 04/15/29 | 22781 |
| 86000 | &nbsp;&nbsp;&nbsp;&nbsp; Sensata Technologies, Inc.\*<br> 3.750%, 02/15/31 | 73617 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc.\* |  |
| 71000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 12/01/30 | 56526 |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 03/01/30^ | 35941 |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Standard Industries, Inc.\*<br> 5.000%, 02/15/27 | 85811 |
| 76000 | &nbsp;&nbsp;&nbsp;&nbsp; Stericycle, Inc.\*<br> 3.875%, 01/15/29 | 67640 |
| 69000 | &nbsp;&nbsp;&nbsp;&nbsp; STL Holding Company, LLC\*<br> 7.500%, 02/15/26 | 60959 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm, Inc. |  |
| 195000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.500%, 03/15/27 | 196665 |
| 129000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.250%, 03/15/26\* | 129084 |
| 71000 | &nbsp;&nbsp;&nbsp;&nbsp; Tronox, Inc.\*<br> 4.625%, 03/15/29 | 60810 |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Vertiv Group Corp.\*<br> 4.125%, 11/15/28 | 83757 |
| 101000 | &nbsp;&nbsp;&nbsp;&nbsp; Wabash National Corp.\*<br> 4.500%, 10/15/28 | 89048 |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Pro USA, Inc.\*<br> 5.500%, 02/15/26 | 93113 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.\* |  |
| 47000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 06/15/25 | 47781 |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.250%, 06/15/28 | 25731 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | **VALUE** | **VALUE** | **VALUE** |
| 106000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*<br> 6.125%, 06/15/25 | $| 106527 |  |
|  |  |  | 4762849 |  |
|  | ***Information Technology (3.6%)*** | ***Information Technology (3.6%)*** | ***Information Technology (3.6%)*** | **** |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Booz Allen Hamilton, Inc.\*<br> 4.000%, 07/01/29 |  | 43159 |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp.\*<br> 3.875%, 07/01/28 |  | 58110 |  |
| 56000 | &nbsp;&nbsp;&nbsp;&nbsp; Coherent Corp.\*<br> 5.000%, 12/15/29 |  | 51290 |  |
| 112000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope Technologies, LLC\*<br> 6.000%, 06/15/25 |  | 106231 |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; CommScope, Inc.\*<br> 4.750%, 09/01/29 |  | 74942 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; Fair Isaac Corp.\*<br> 4.000%, 06/15/28 |  | 44629 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; KBR, Inc.\*<br> 4.750%, 09/30/28 |  | 91319 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings, LLC\* | &nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings, LLC\* | &nbsp;&nbsp;&nbsp;&nbsp; MPH Acquisition Holdings, LLC\* |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.750%, 11/01/28^ |  | 72781 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 09/01/28 |  | 41644 |  |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; NCR Corp.\*<br> 5.125%, 04/15/29 |  | 38324 |  |
| 68000 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.\*<br> 3.875%, 09/01/28 |  | 62100 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp.\* |  |  |  |
| 72000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 02/15/28 |  | 62654 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.900%, 12/01/27 |  | 46152 |  |
| 36000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 12/01/29 |  | 30008 |  |
| 36000 | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Holdings, Inc.\*<br> 4.125%, 12/01/31 |  | 29300 |  |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; Playtika Holding Corp.\*<br> 4.250%, 03/15/29 |  | 36588 |  |
| 66000 | &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\*<br> 4.000%, 02/15/28 |  | 61547 |  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.\*^<br> 4.000%, 03/01/29 |  | 113639 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Twilio, Inc. |  |  |  |
| 65000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 03/15/29 |  | 55278 |  |
| 23000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 03/15/31^ |  | 19092 |  |
| 130000 | &nbsp;&nbsp;&nbsp;&nbsp; Viavi Solutions, Inc.\*<br> 3.750%, 10/01/29 |  | 113477 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo Technologies, LLC / ZoomInfo Finance Corp.\*^<br> 3.875%, 02/01/29 |  | 86355 |  |
|  |  |  | 1338619 |  |
|  | ***Materials (3.5%)*** |  |  |  |
| 52000 | &nbsp;&nbsp;&nbsp;&nbsp; ArcelorMittal, SA<br> 7.000%, 10/15/39 |  | 56313 |  |
| 47000 | &nbsp;&nbsp;&nbsp;&nbsp; ATI, Inc.<br> 5.875%, 12/01/27 |  | 45667 |  |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; Carpenter Technology Corp.<br> 7.625%, 03/15/30 |  | 25689 |  |
| 70000 | &nbsp;&nbsp;&nbsp;&nbsp; Chemours Company\*<br> 4.625%, 11/15/29 |  | 58527 |  |
| 145000 | &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp.\*<br> 4.750%, 08/15/28 |  | 129781 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Commercial Metals Company |  |  |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 01/15/30 |  | 43109 |  |
| 24000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 03/15/32 |  | 21254 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Constellium, SE\*^<br> 3.750%, 04/15/29 |  | 214030 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
| 68000 | &nbsp;&nbsp;&nbsp;&nbsp; HB Fuller Company<br> 4.250%, 10/15/28 | $| 60295 |  |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; JW Aluminum Continuous Cast Company\*<br> 10.250%, 06/01/26 |  | 86425 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.\* | &nbsp;&nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp.\* |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 03/01/28 |  | 100685 |  |
| 11000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 06/01/31 |  | 9321 |  |
| 69000 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC\*<br> 6.625%, 10/15/29 |  | 57632 |  |
| 96000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercer International, Inc.<br> 5.125%, 02/01/29 |  | 82236 |  |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.\*<br> 6.625%, 05/13/27 |  | 132913 |  |
| 110000 | &nbsp;&nbsp;&nbsp;&nbsp; Silgan Holdings, Inc.<br> 4.125%, 02/01/28 |  | 102919 |  |
| 44000 | &nbsp;&nbsp;&nbsp;&nbsp; Trinseo Materials Operating SCA / Trinseo Materials Finance, Inc.\*<br> 5.125%, 04/01/29 |  | 31832 |  |
| 35000 | &nbsp;&nbsp;&nbsp;&nbsp; Univar Solutions USA, Inc.\*<br> 5.125%, 12/01/27 |  | 34046 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;1292674 |  |
|  | ***Other (0.6%)*** | ***Other (0.6%)*** | ***Other (0.6%)*** | **** |
| 117000 | &nbsp;&nbsp;&nbsp;&nbsp; 1375209 B.C., Ltd.\*<br> 9.000%, 01/30/28 |  | 116691 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\* |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.125%, 09/30/30 |  | 45724 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 09/30/27 |  | 45694 |  |
|  |  |  | 208109 |  |
|  | ***Real Estate (1.1%)*** | ***Real Estate (1.1%)*** | ***Real Estate (1.1%)*** | **** |
| 71000 | &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties<br> 3.750%, 08/15/29 |  | 59321 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\* |  |
| 67000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 03/01/28 |  | 58926 |  |
| 48000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.850%, 05/15/26 |  | 43073 |  |
| 108000 | &nbsp;&nbsp;&nbsp;&nbsp; MIWD Holdco II, LLC / MIWD Finance Corp.\*<br> 5.500%, 02/01/30 |  | 89989 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust | &nbsp;&nbsp;&nbsp;&nbsp; Service Properties Trust |  |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.350%, 10/01/24 |  | 117967 |  |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/26 |  | 39035 |  |
|  |  |  | 408311 |  |
|  | ***Special Purpose Acquisition Companies (0.3%)*** | ***Special Purpose Acquisition Companies (0.3%)*** | ***Special Purpose Acquisition Companies (0.3%)*** | **** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.\* | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC / Fertitta Entertainment Finance Company, Inc.\* |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.750%, 01/15/30 |  | 78975 |  |
| 46000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 01/15/29 |  | 40631 |  |
|  |  |  | 119606 |  |
|  | ***Utilities (0.6%)*** | ***Utilities (0.6%)*** | ***Utilities (0.6%)*** | **** |
| 34000 | &nbsp;&nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc.‡<br> 7.395%, 03/30/67<br> 3 mo. USD LIBOR + 2.67% |  | 29936 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; TerraForm Power Operating, LLC\*<br> 5.000%, 01/31/28 |  | 94093 |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Vistra Corp.\*‡<br> 8.000%, 10/15/26<br> 5 year CMT + 6.93% |  | 49053 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
| 45000 | &nbsp;&nbsp;&nbsp;&nbsp; 7.000%, 12/15/26<br> 5 year CMT + 5.74% | $| 42471 |  |
|  |  |  | 215553 |  |
|  | **TOTAL CORPORATE BONDS** (Cost $34,940,156) |  | &nbsp;&nbsp;&nbsp;&nbsp;31276894 |  |
| **CONVERTIBLE BONDS (0.6%)** | **CONVERTIBLE BONDS (0.6%)** | **CONVERTIBLE BONDS (0.6%)** | **CONVERTIBLE BONDS (0.6%)** |  |
|  | ***Consumer Discretionary (0.5%)*** | ***Consumer Discretionary (0.5%)*** | ***Consumer Discretionary (0.5%)*** | **** |
| 189000 | &nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp.<br> 2.375%, 03/15/24 |  | 176150 |  |
|  |  |  | 176150 |  |
|  | ***Other (0.1%)*** |  |  |  |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Multiplan Corp.\*<br> 6.000%, 10/15/27 |  | 32717 |  |
|  | **TOTAL CONVERTIBLE BONDS**<br> (Cost $217,111) |  | 208867 |  |
| **BANK LOANS (10.3%) ¡** | **BANK LOANS (10.3%) ¡** | **BANK LOANS (10.3%) ¡** | **BANK LOANS (10.3%) ¡** |  |
|  | ***Airlines (0.6%)*** |  |  |  |
| 90000 | &nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings, LLC‡<br> 9.996%, 06/21/27<br> 3 mo. LIBOR + 5.25% |  | 93988 |  |
| 122813 | &nbsp;&nbsp;&nbsp;&nbsp; United Airlines, Inc.‡<br> 8.568%, 04/21/28<br> 3 mo. LIBOR + 3.75% |  | 123042 |  |
|  |  |  | 217030 |  |
|  | ***Communication Services (1.2%)*** | ***Communication Services (1.2%)*** | ***Communication Services (1.2%)*** | **** |
| 120625 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.325%, 08/21/26<br> 3 mo. LIBOR + 3.50% |  | 115046 |  |
| 313 | &nbsp;&nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings, Inc.‡<br> 8.069%, 08/21/26<br> 1 mo. LIBOR + 3.50% |  | 298 |  |
| 49873 | &nbsp;&nbsp;&nbsp;&nbsp; CMG Media Corp.‡<br> 8.230%, 12/17/26<br> 3 mo. LIBOR + 3.50% |  | 47437 |  |
| 130674 | &nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC‡<br> 9.570%, 08/02/27<br> 1 mo. LIBOR + 5.00% |  | 128802 |  |
| 146000 | &nbsp;&nbsp;&nbsp;&nbsp; Entercom Media Corp.‡<br> 7.047%, 11/18/24<br> 1 mo. USD LIBOR + 2.5% |  | 105272 |  |
| 49750 | &nbsp;&nbsp;&nbsp;&nbsp; Univision Communications, Inc.‡<br> 8.830%, 06/24/29<br> 3 mo. SOFR + 4.25% |  | 49812 |  |
|  |  |  | 446667 |  |
|  | ***Consumer Discretionary (1.6%)*** | ***Consumer Discretionary (1.6%)*** | ***Consumer Discretionary (1.6%)*** | **** |
| 50000 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.!<br> 0.000%, 01/20/30 |  | 50018 |  |
| 32191 | &nbsp;&nbsp;&nbsp;&nbsp; Life Time Fitness, Inc.‡<br> 9.485%, 12/16/24<br> 3 mo. LIBOR + 4.75% |  | 32268 |  |
| 48357 | &nbsp;&nbsp;&nbsp;&nbsp; Penn National Gaming, Inc.‡<br> 7.411%, 05/03/29<br> 1 mo. SOFR + 2.75% |  | 48384 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
| 157200 | &nbsp;&nbsp;&nbsp;&nbsp; Petco Health and Wellness Company, Inc.‡<br> 7.976%, 03/03/28<br> 3 mo. LIBOR + 3.25% | $| 155833 |  |
| 88403 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc.‡<br> 8.411%, 02/11/28<br> 1 mo. SOFR + 3.75% |  | 87924 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; SkyMiles IP, Ltd.‡<br> 8.558%, 10/20/27<br> 3 mo. LIBOR + 3.75% |  | 98409 |  |
| 63062 | &nbsp;&nbsp;&nbsp;&nbsp; TKC Holdings, Inc.‡<br> 10.070%, 05/15/28<br> 1 mo. LIBOR + 5.50% |  | 52946 |  |
| 155925 | &nbsp;&nbsp;&nbsp;&nbsp; WW International, Inc.‡<br> 8.070%, 04/13/28<br> 1 mo. LIBOR + 3.50% |  | 93684 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;619466 |  |
|  | ***Financials (0.9%)*** | ***Financials (0.9%)*** | ***Financials (0.9%)*** | **** |
| 99748 | &nbsp;&nbsp;&nbsp;&nbsp; AssuredPartners, Inc.!<br> 0.000%, 02/12/27 |  | 98798 |  |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; Hub International, Ltd.‡<br> 8.220%, 11/10/29<br> 3 mo. SOFR + 4.00% |  | 100078 |  |
| 128700 | &nbsp;&nbsp;&nbsp;&nbsp; VFH Parent, LLC‡<br> 7.612%, 01/13/29<br> 1 mo. SOFR + 3.00% |  | 128298 |  |
|  |  |  | 327174 |  |
|  | ***Health Care (1.9%)*** | ***Health Care (1.9%)*** | ***Health Care (1.9%)*** | **** |
| 84740 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.125%, 05/04/25<br> 1 mo. LIBOR + 3.50% |  | 80097 |  |
| 82385 | &nbsp;&nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, LLC‡<br> 8.250%, 05/04/25<br> 3 mo. LIBOR + 3.50% |  | 77872 |  |
| 24375 | &nbsp;&nbsp;&nbsp;&nbsp; Bausch Health Companies, Inc.‡<br> 9.828%, 02/01/27<br> 1 mo. SOFR + 5.25% |  | 18864 |  |
| 64033 | &nbsp;&nbsp;&nbsp;&nbsp; Icon Luxembourg Sarl‡ 7.000%, 07/03/28 3 mo. LIBOR + 2.25% |  | 64113 |  |
| 131039 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt International Finance, SA‡<br> 9.986%, 09/30/27<br> 3 mo. LIBOR + 5.25% |  | 100908 |  |
| 108235 | &nbsp;&nbsp;&nbsp;&nbsp; Padagis, LLC‡<br> 9.538%, 07/06/28<br> 3 mo. LIBOR + 4.75% |  | 101020 |  |
| 15954 | &nbsp;&nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc.‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% |  | 15974 |  |
| 282877 | &nbsp;&nbsp;&nbsp;&nbsp; Team Health Holdings, Inc.‡<br> 9.811%, 03/02/27<br> 1 mo. SOFR + 5.25% |  | 235848 |  |
|  |  |  | 694696 |  |
|  | ***Industrials (1.6%)*** | ***Industrials (1.6%)*** | ***Industrials (1.6%)*** | **** |
| 37000 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 6 mo. LIBOR + 4.25% |  | 30115 |  |
| 12250 | &nbsp;&nbsp;&nbsp;&nbsp; ACProducts, Inc.‡<br> 8.980%, 05/17/28<br> 3 mo. LIBOR + 4.25% |  | 9970 |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
| 59700 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada‡<br> 8.130%, 08/11/28<br> 3 mo. LIBOR + 3.50% | $| 59860 |  |
| 95000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc.‡<br> 9.558%, 04/20/28<br> 3 mo. LIBOR + 4.75% |  | 97701 |  |
| 99750 | &nbsp;&nbsp;&nbsp;&nbsp; ChampionX Corp.‡<br> 7.747%, 06/07/29<br> 1 mo. SOFR + 3.25% |  | 99922 |  |
| 89886 | &nbsp;&nbsp;&nbsp;&nbsp; Dun & Bradstreet Corp.‡<br> 7.767%, 02/06/26<br> 1 mo. LIBOR + 3.25% |  | 89846 |  |
| 106730 | &nbsp;&nbsp;&nbsp;&nbsp; Granite Holdings US Acquisition Company‡<br> 8.750%, 09/30/26<br> 3 mo. LIBOR + 4.73% |  | 106797 |  |
| 99500 | &nbsp;&nbsp;&nbsp;&nbsp; Scientific Games International, Inc.‡<br> 7.578%, 04/14/29<br> 1 mo. SOFR + 3.00% |  | 99535 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;593746 |  |
|  | ***Information Technology (0.8%)*** | ***Information Technology (0.8%)*** | ***Information Technology (0.8%)*** | **** |
| 93835 | &nbsp;&nbsp;&nbsp;&nbsp; Banff Merger Sub, Inc.‡<br> 8.320%, 10/02/25<br> 1 mo. LIBOR + 3.75% |  | 92328 |  |
| 86265 | &nbsp;&nbsp;&nbsp;&nbsp; Camelot U.S. Acquisition 1 Company‡<br> 7.517%, 10/30/26<br> 1 mo. LIBOR + 3.00% |  | 86254 |  |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; CDK Global, Inc.‡<br> 9.080%, 07/06/29<br> 3 mo. SOFR + 4.50% |  | 24981 |  |
| 97964 | &nbsp;&nbsp;&nbsp;&nbsp; II-VI, Inc.‡<br> 7.320%, 07/02/29<br> 1 mo. LIBOR + 2.75% |  | 97933 |  |
|  |  |  | 301496 |  |
|  | ***Materials (0.8%)*** | ***Materials (0.8%)*** | ***Materials (0.8%)*** | **** |
| 100000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle and Manufacturing, Inc.‡<br> 8.033%, 12/13/29<br> 1 mo. SOFR + 3.60% |  | 100167 |  |
| 117800 | &nbsp;&nbsp;&nbsp;&nbsp; Innophos, Inc.‡<br> 7.820%, 02/05/27<br> 1 mo. LIBOR + 3.25% |  | 117726 |  |
| 49625 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC‡<br> 8.176%, 10/15/28<br> 1 mo. SOFR + 3.5% |  | 48240 |  |
| 27500 | &nbsp;&nbsp;&nbsp;&nbsp; LSF11 A5 HoldCo, LLC!<br> 0.000%, 10/15/28 |  | 26881 |  |
|  |  |  | 293014 |  |
|  | ***Special Purpose Acquisition Companies (0.9%)*** | ***Special Purpose Acquisition Companies (0.9%)*** | ***Special Purpose Acquisition Companies (0.9%)*** | **** |
| 85000 | &nbsp;&nbsp;&nbsp;&nbsp; AP Core Holdings II, LLC‡<br> 10.070%, 09/01/27<br> 1 mo. LIBOR + 5.50% |  | 82238 |  |
| 44775 | &nbsp;&nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings, Inc.‡<br> 8.836%, 04/13/29<br> 1 mo. SOFR + 4.18% |  | 44060 |  |
| 24813 | &nbsp;&nbsp;&nbsp;&nbsp; Fertitta Entertainment, LLC‡<br> 8.561%, 01/27/29<br> 1 mo. SOFR + 4.00% |  | 24566 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | **VALUE** | |
| 99750 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar AcquisitionCo, LLC‡<br> 9.180%, 04/29/29<br> 3 mo. SOFR + 4.50% | $| 96868 |  |
| 99750 | &nbsp;&nbsp;&nbsp;&nbsp; Patagonia Holdco, LLC‡<br> 9.960%, 08/01/29<br> 3 mo. SOFR + 5.75% |  | 84289 |  |
|  |  |  | 332021 |  |
|  | **TOTAL BANK LOANS**<br> (Cost $4,018,634) |  | 3825310 |  |
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  |  | **VALUE** | **VALUE** |  |
| **COMMON STOCKS (1.1%)** | **COMMON STOCKS (1.1%)** | **COMMON STOCKS (1.1%)** | **COMMON STOCKS (1.1%)** |  |
|  | ***Communication Services (0.1%)*** | ***Communication Services (0.1%)*** | ***Communication Services (0.1%)*** | **** |
| 2040 | &nbsp;&nbsp;&nbsp;&nbsp; Altice USA, Inc. - Class A# |  | 9996 |  |
| 1273 | &nbsp;&nbsp;&nbsp;&nbsp; Cumulus Media, Inc. - Class A# |  | 8529 |  |
|  |  |  | 18525 |  |
|  | ***Energy (0.9%)*** |  |  |  |
| 1068 | &nbsp;&nbsp;&nbsp;&nbsp; Chaparral Energy, Inc. - Class A&# |  | 45390 |  |
| 291 | &nbsp;&nbsp;&nbsp;&nbsp; Chesapeake Energy Corp.^ |  | 25236 |  |
| 6600 | &nbsp;&nbsp;&nbsp;&nbsp; Energy Transfer, LP |  | 87648 |  |
| 3970 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Partners, LP |  | 101632 |  |
| 660 | &nbsp;&nbsp;&nbsp;&nbsp; EP Energy Corp.&# |  | 5197 |  |
| 1285 | &nbsp;&nbsp;&nbsp;&nbsp; Magellan Midstream Partners, LP |  | 68619 |  |
| 965 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Companies, Inc. |  | 31112 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;364834 |  |
|  | ***Health Care (0.0%)*** |  |  |  |
| 701 | &nbsp;&nbsp;&nbsp;&nbsp; Mallinckrodt, PLC# |  | 5257 |  |
|  | ***Special Purpose Acquisition Company (0.1%)*** | ***Special Purpose Acquisition Company (0.1%)*** | ***Special Purpose Acquisition Company (0.1%)*** | **** |
| 1132 | &nbsp;&nbsp;&nbsp;&nbsp; Intelsat Emergence, SA&# |  | 26319 |  |
|  | **TOTAL COMMON STOCKS**<br> (Cost $646,829) |  | 414935 |  |
| **WARRANTS (0.0%) #** | **WARRANTS (0.0%) #** | **WARRANTS (0.0%) #** | **WARRANTS (0.0%) #** |  |
|  | ***Energy (0.0%)*** |  |  |  |
| 4950 | &nbsp;&nbsp;&nbsp;&nbsp; Mcdermott International, Ltd.& Strike $15.98 |  | 1 |  |
| 4455 | &nbsp;&nbsp;&nbsp;&nbsp; Mcdermott International, Ltd. Strike $12.33 |  |  |  |
|  | **TOTAL WARRANTS**<br> (Cost $1,910) |  | 1 |  |
| **CONVERTIBLE PREFERRED STOCK (0.0%)** | **CONVERTIBLE PREFERRED STOCK (0.0%)** | **CONVERTIBLE PREFERRED STOCK (0.0%)** | **CONVERTIBLE PREFERRED STOCK (0.0%)** |  |
|  | ***Energy (0.0%)*** |  |  |  |
| 2 | &nbsp;&nbsp;&nbsp;&nbsp; Gulfport Energy Corp.<br> 10.000%, 03/03/23<br> (Cost $1,298) |  | 11700 |  |
| **PREFERRED STOCKS (1.0%)** | **PREFERRED STOCKS (1.0%)** | **PREFERRED STOCKS (1.0%)** | **PREFERRED STOCKS (1.0%)** |  |
|  | ***Consumer Discretionary (0.2%)*** | ***Consumer Discretionary (0.2%)*** | ***Consumer Discretionary (0.2%)*** | **** |
| 590 | &nbsp;&nbsp;&nbsp;&nbsp; Guitar Center, Inc.& |  | 73455 |  |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**SHARES**  | | **VALUE** |
|  | ***Energy (0.6%)*** |  |
| 3755 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Energy, LP‡<br> 10.379%, 03/02/23<br> 3 mo. USD LIBOR + 5.64% | $87266 |
| 1697 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Energy, LP^‡<br> 11.502%, 03/02/23<br> 3 mo. USD LIBOR + 6.77% | 42459 |
| 4185 | &nbsp;&nbsp;&nbsp;&nbsp; NuStar Logistics, LP‡<br> 11.526%, 01/15/43<br> 3 mo. USD LIBOR + 6.73% | 104918 |
|  |  | 234643 |
|  | ***Financials (0.2%)*** |  |
| 2372 | &nbsp;&nbsp;&nbsp;&nbsp; B Riley Financial, Inc.<br> 5.250%, 08/31/28 | 50381 |
|  | **TOTAL PREFERRED STOCKS**<br> (Cost $372,598) | 358479 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (5.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (5.9%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (5.9%)** |
| 2180008 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%†<br> (Cost $2,180,008) |  |
|  |  | 2180008 |
| **TOTAL INVESTMENTS (103.6%)**<br> (Cost $42,378,544) | **TOTAL INVESTMENTS (103.6%)**<br> (Cost $42,378,544) | 38276194 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-5.9%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-5.9%) | (2180008) |
| OTHER ASSETS, LESS LIABILITIES (2.3%) | OTHER ASSETS, LESS LIABILITIES (2.3%) | 833524 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;36929710 |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

---

| | |
|:---|:---|
| **@** | In default status and considered non-income producing.  |

---

---

| | |
|:---|:---|
| **&** | Illiquid security.  |

---

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

---

| | |
|:---|:---|
| **¡** | 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.  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos High Income Opportunities Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | |
|:---|:---|
| **!** | 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. 

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** | |
| **CORPORATE BONDS (61.8%)** | **CORPORATE BONDS (61.8%)** | **CORPORATE BONDS (61.8%)** |  |
|  | ***Airlines (1.2%)*** | ***Airlines (1.2%)*** | **** |
| 446897 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-1, Class B\*<br> 3.875%, 09/15/24 | $445158 |  |
| 270219 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada Pass Through Trust<br> Series 2015-2, Class B\*<br> 5.000%, 06/15/25 | 263418 |  |
| 1054029 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust<br> Series 2020-1, Class A\*<br> 4.800%, 02/15/29 | 1028996 |  |
| 270101 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Airlines Pass Through Trust<br> Series 2020-1, Class B\*<br> 8.000%, 02/15/27 | 275508 |  |
| 910008 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust<br> Series 2013-1, Class A\*<br> 4.625%, 12/20/25 | 897050 |  |
| 459915 | &nbsp;&nbsp;&nbsp;&nbsp; British Airways Pass Through Trust<br> Series 2019-1, Class A\*<br> 3.350%, 12/15/30 | 401906 |  |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.\*<br> 8.000%, 09/20/25 | 1276050 |  |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;4588086 |  |
|  | ***Communication Services (2.9%)*** | ***Communication Services (2.9%)*** | **** |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ashtead Capital, Inc.\*<br> 4.375%, 08/15/27 | 959490 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; AT&T, Inc.<br> 1.700%, 03/25/26 | 917440 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bell Canada<br> 0.750%, 03/17/24 | 954010 |  |
| 373000 | &nbsp;&nbsp;&nbsp;&nbsp; Cincinnati Bell, Inc.<br> 7.250%, 06/15/23 | 370169 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Cogent Communications Group, Inc.\*<br> 3.500%, 05/01/26 | 695422 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Comcast Corp.^<br> 5.250%, 11/07/25 | 1021960 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Magallanes, Inc.\*<br> 3.788%, 03/15/25 | 483125 |  |
| 822000 | &nbsp;&nbsp;&nbsp;&nbsp; Netflix, Inc.\*<br> 3.625%, 06/15/25 | 797480 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; NTT Finance Corp.\*<br> 0.583%, 03/01/24 | 477060 |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Qwest Corp.<br> 7.250%, 09/15/25 | 400688 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Rogers Communications, Inc.<br> 3.625%, 12/15/25 | 966280 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Sirius XM Radio, Inc.\*<br> 3.125%, 09/01/26 | 451315 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Sprint, LLC<br> 7.875%, 09/15/23 | 1015110 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Communications, Inc.<br> 0.850%, 11/20/25 | 905190 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Warnermedia Holdings, Inc.\*<br> 3.428%, 03/15/24 | 244800 |  |
|  |  | 10659539 |  |
|  | ***Consumer Discretionary (5.5%)*** | ***Consumer Discretionary (5.5%)*** | **** |
| 1157000 | &nbsp;&nbsp;&nbsp;&nbsp; Abercrombie & Fitch Management Company\*^<br> 8.750%, 07/15/25 | 1170028 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**AMOUNT**  | | **VALUE** |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; American Honda Finance Corp.<br> 4.750%, 01/12/26 | $1008580 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Aptiv, PLC<br> 2.396%, 02/18/25 | 954250 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; AutoZone, Inc.<br> 4.500%, 02/01/28 | 498885 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; BMW US Capital, LLC\*<br> 3.900%, 04/09/25 | 492610 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; BorgWarner, Inc. |  |
| 1066000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 10/01/25\* | 1059988 |
| 312000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 03/15/25^ | 302016 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Brunswick Corp.<br> 0.850%, 08/18/24 | 700342 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Caesars Entertainment, Inc.\*<br> 6.250%, 07/01/25 | 498460 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Dollar General Corp.<br> 4.250%, 09/20/24 | 991970 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; DR Horton, Inc.^<br> 5.750%, 08/15/23 | 1002810 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ford Motor Credit Company, LLC |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.950%, 03/06/26 | 1023630 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 02/10/25 | 465570 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; General Motors Financial Company, Inc.<br> 1.200%, 10/15/24 | 935230 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; goeasy, Ltd.\* |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.375%, 12/01/24^ | 719707 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.375%, 05/01/26 | 179666 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Company<br> 9.500%, 05/31/25 | 518455 |
| 1251000 | &nbsp;&nbsp;&nbsp;&nbsp; Hasbro, Inc.<br> 3.000%, 11/19/24 | 1210355 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Kia Corp.\*^<br> 2.375%, 02/14/25 | 470210 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; L Brands, Inc.\*^<br> 9.375%, 07/01/25 | 804165 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Lennar Corp.<br> 4.500%, 04/30/24 | 248868 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Lowe's Companies, Inc.<br> 4.400%, 09/08/25 | 996100 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Mattel, Inc.\* |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 04/01/26 | 702030 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.875%, 12/15/27 | 501060 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; MGM Resorts International<br> 6.000%, 03/15/23 | 250343 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Newell Brands, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.375%, 09/15/27 | 503310 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 12/01/24 | 292119 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Nordstrom, Inc.<br> 2.300%, 04/08/24 | 474880 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Toll Brothers Finance Corp.<br> 4.375%, 04/15/23 | 498885 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; VF Corp.<br> 2.400%, 04/23/25 | 948850 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;20423372 |
|  | ***Consumer Staples (1.6%)*** |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Conagra Brands, Inc.<br> 0.500%, 08/11/23 | 195308 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Darling Ingredients, Inc.\*<br> 5.250%, 04/15/27 | 488290 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; General Mills, Inc.<br> 5.241%, 11/18/25 | 1005170 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Keurig Dr Pepper, Inc.<br> 0.750%, 03/15/24 | $716587 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; McCormick & Company, Inc./MD |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/01/23 | 495445 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.900%, 02/15/26 | 267996 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International, Inc.<br> 2.125%, 03/17/24 | 485705 |
| 905000 | &nbsp;&nbsp;&nbsp;&nbsp; Pilgrim's Pride Corp.\*<br> 5.875%, 09/30/27 | 898602 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Walgreens Boots Alliance, Inc.<br> 0.950%, 11/17/23 | 1454565 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6007668 |
|  | ***Energy (2.4%)*** |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Atlantic City Electric<br> 3.375%, 09/01/24 | 487520 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Continental Resources, Inc.<br> 4.500%, 04/15/23 | 748298 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Enbridge, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.500%, 02/14/25 | 476570 |
| 375000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.150%, 02/16/24 | 364121 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC^ 5.050%, 01/10/26 | 1014940 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; EQM Midstream Partners, LP\*<br> 7.500%, 06/01/27 | 501890 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; EQT Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 05/15/26\* | 936690 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.125%, 02/01/25 | 506130 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Eversource Energy<br> 4.200%, 06/27/24 | 990170 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Kinder Morgan Energy Partners, LP<br> 3.500%, 09/01/23 | 992390 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; ONEOK, Inc.<br> 2.750%, 09/01/24 | 1206187 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Parkland Corp.\*<br> 5.875%, 07/15/27 | 480730 |
|  |  | 8705636 |
|  | ***Financials (24.3%)*** |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC / AerCap Global Aviation Trust |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.875%, 08/14/24^ | 478215 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.750%, 10/29/24 | 466805 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.650%, 10/29/24 | 468360 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; African Development Bank<br> 3.375%, 07/07/25 | 983750 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ally Financial, Inc. |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.050%, 06/05/23 | 248445 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 10/02/23 | 244118 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; American Express Company |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.400%, 02/22/24 | 492440 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 03/04/25 | 476030 |
| 680000 | &nbsp;&nbsp;&nbsp;&nbsp; Ares Capital Corp.^<br> 3.500%, 02/10/23 | 679701 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Asian Development Bank^<br> 0.375%, 06/11/24 | 1890860 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Asian Infrastructure Investment Bank<br> 4.000%, 01/18/28 | 1002350 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Aviation Capital Group, LLC\* |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.950%, 09/20/26 | 652867 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 05/01/23 | 248595 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Avolon Holdings Funding, Ltd.\* |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.950%, 07/01/24 | 485250 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br>AMOUNT** | | **VALUE** |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 01/15/26 | $245058 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of America Corp.‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.456%, 10/22/25<br> 3 mo. USD LIBOR + 0.87% | 478420 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.530%, 12/06/25<br> SOFR + 0.65% | 467490 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.658%, 03/11/27<br> SOFR + 0.91% | 225820 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.981%, 09/25/25<br> SOFR + 0.91% | 233375 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Montreal<br> 5.203%, 02/01/28 | 2040900 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Bank of Nova Scotia |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 01/10/25 | 938320 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 07/31/24 | 187886 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bank of NY Mellon Corp.‡<br> 4.414%, 07/24/26<br> SOFR + 1.35% | 993550 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Barclays, PLC‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.304%, 08/09/26<br> 1 year CMT + 2.30% | 502520 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.007%, 12/10/24<br> 1 year CMT + 0.80% | 481245 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Blackstone Private Credit Fund<br> 2.350%, 11/22/24 | 468605 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Brookfield Finance, Inc.<br> 4.000%, 04/01/24 | 989060 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Financial Corp. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.985%, 07/24/26‡<br> SOFR + 2.16% | 496880 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.636%, 03/03/26‡<br> SOFR + 1.29% | 473495 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.600%, 05/11/23 | 497160 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Caterpillar Financial Services Corp.<br> 3.650%, 08/12/25 | 490465 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Charles Schwab Corp.<br> 0.900%, 03/11/26 | 224050 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Chubb INA Holdings, Inc.<br> 3.350%, 05/15/24 | 984190 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Citigroup, Inc.‡ |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.981%, 05/01/25<br> SOFR + 0.67% | 947190 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.014%, 01/25/26<br> SOFR + 0.69% | 470465 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Citizens Bank NA‡ |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.119%, 05/23/25<br> SOFR + 1.40% | 986250 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.064%, 10/24/25<br> SOFR + 1.45% | 508725 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; CNO Global Funding\*<br> 1.650%, 01/06/25 | 933850 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 01/10/25 | 941200 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.875%, 08/22/24 | 247085 |
| 475000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp.\*<br> 5.125%, 12/31/24 | 447094 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse AG/New York NY |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.700%, 02/21/25 | 471530 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 05/05/23 | 492175 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.495%, 02/02/24 | 235210 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Suisse Group, AG\*‡<br> 6.373%, 07/15/26<br> SOFR + 3.34% | 485650 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Danske Bank, A/S\*‡<br> 0.976%, 09/10/25<br> 1 year CMT + 0.55% | 1387125 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Bank<br> 2.450%, 09/12/24 | $1197212 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; DNB Bank, ASA\*‡<br> 0.856%, 09/30/25<br> 1 year CMT + 0.33% | 929880 |
| 957000 | &nbsp;&nbsp;&nbsp;&nbsp; Enact Holdings, Inc.\*<br> 6.500%, 08/15/25 | 944138 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; European Bank for Reconstruction & Development |  |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 11/25/25^ | 1134450 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.500%, 05/19/25 | 919650 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; European Investment Bank |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 07/24/24 | 942450 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.250%, 09/15/23 | 972360 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fifth Third Bancorp^ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.300%, 01/16/24 | 497375 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.707%, 11/01/27‡<br> SOFR + 0.69% | 451835 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; FNB Corp./PA<br> 2.200%, 02/24/23 | 498190 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group, Inc. |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.855%, 02/12/26‡<br> SOFR + 0.61% | 687442 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.757%, 01/24/25‡<br> SOFR + 0.73% | 481370 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.217%, 12/06/23 | 484605 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; HSBC Holdings, PLC‡ |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.732%, 08/17/24^<br> SOFR + 0.53% | 730432 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.162%, 11/22/24<br> SOFR + 0.58% | 482465 |
| 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.999%, 03/10/26<br> SOFR + 1.43% | 429178 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Huntington National Bank‡<br> 5.699%, 11/18/25 SOFR + 1.22% | 1010630 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Hyundai Capital America\*<br> 2.375%, 02/10/23 | 249865 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Inter-American Development Bank^<br> 1.750%, 03/14/25 | 950360 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Intercontinental Exchange, Inc.<br> 3.650%, 05/23/25 | 493290 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; International Bank for Reconstruction & Development<br> 1.625%, 01/15/25 | 951170 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; International Finance Corp.<br> 3.625%, 09/15/25 | 495180 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; JPMorgan Chase & Company‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.595%, 02/24/26<br> SOFR + 0.92% | 476670 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.824%, 06/01/25<br> SOFR + 0.54% | 470705 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.578%, 04/22/27<br> SOFR + 0.89% | 224778 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.768%, 08/09/25<br> SOFR + 0.49% | 233320 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; KeyBank NA |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 08/08/25 | 494395 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.664%, 01/03/24‡<br> SOFR + 0.34% | 250073 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; KeyCorp‡<br> 3.878%, 05/23/25<br> SOFR + 1.25% | 491655 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; KfW<br> 1.250%, 01/31/25 | 942660 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Kreditanstalt fuer Wiederaufbau |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.375%, 08/23/24 | $983070 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 10/01/26^ | 271083 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings, LLLP / Ladder Capital Finance Corp.\*<br> 5.250%, 10/01/25 | 963510 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Level 3 Financing, Inc.\*<br> 3.400%, 03/01/27 | 867190 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Lloyds Banking Group, PLC‡ |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.695%, 05/11/24<br> 1 year CMT + 0.55% | 739350 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.511%, 03/18/26<br> 1 year CMT + 1.60% | 482180 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; LSEGA Financing, PLC\*<br> 0.650%, 04/06/24 | 711165 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Macquarie Group, Ltd.\*‡ |  |
| 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.150%, 03/27/24<br> 3 mo. USD LIBOR + 1.33% | 648791 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.201%, 10/14/25<br> SOFR + 0.69% | 462975 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Manufacturers & Traders Trust Co.<br> 4.650%, 01/27/26 | 249683 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Markel Corp.<br> 3.625%, 03/30/23 | 998070 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Metropolitan Life Global Funding I\* |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.800%, 03/21/25 | 962060 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 01/06/26^ | 507310 |
| 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.700%, 09/27/24^ | 312709 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Mitsubishi UFJ Financial Group, Inc.‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.063%, 09/12/25<br> 1 year CMT + 1.55% | 499530 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.788%, 07/18/25<br> 1 year CMT + 1.70% | 497135 |
| 520000 | &nbsp;&nbsp;&nbsp;&nbsp; Mondelez International Holdings Netherlands, BV\*<br> 0.750%, 09/24/24 | 486101 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley‡ |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.790%, 05/30/25<br> SOFR + 0.53% | 705000 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.731%, 04/05/24<br> SOFR + 0.62% | 743482 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; National Bank of Canada |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 06/09/25‡<br> SOFR + 1.01% | 491515 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.100%, 02/01/23 | 250000 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; NatWest Group, PLC‡<br> 2.359%, 05/22/24<br> 1 year CMT + 2.15% | 494700 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; NatWest Markets, PLC\*<br> 1.600%, 09/29/26 | 443200 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordea Bank Abp\* |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.750%, 09/22/25 | 500260 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 09/30/26 | 442250 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Nordic Investment Bank |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.625%, 04/04/25 | 967690 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.375%, 09/11/25 | 909500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Oesterreichische Kontrollbank, AG |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 09/09/27^ | 992090 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.500%, 02/12/25 | 945520 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Finance Corp.<br> 6.125%, 03/15/24 | 496490 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Pacific Life Global Funding II\*<br> 0.500%, 09/23/23 | $485865 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; PNC Financial Services Group, Inc. |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.671%, 10/28/25‡<br> SOFR + 1.09% | 759555 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 11/01/24 | 240833 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Pricoa Global Funding I\* |  |
| 935000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.200%, 08/28/25 | 922985 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 09/01/26 | 446910 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Radian Group, Inc.<br> 4.500%, 10/01/24 | 974350 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Reinsurance Group of America, Inc.<br> 4.700%, 09/15/23 | 998520 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Reliance Standard Life Global Funding II\*<br> 3.850%, 09/19/23 | 990380 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Rocket Mortgage, LLC / Rocket Mortgage Co-Issuer, Inc.\*<br> 2.875%, 10/15/26 | 446500 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Royal Bank Of Canada<br> 6.000%, 11/01/27 | 791895 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Royal Bank of Canada<br> 0.875%, 01/20/26 | 224920 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; SBA Tower Trust\* |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.631%, 05/15/51 | 437249 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.840%, 04/15/27 | 217028 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.884%, 07/15/50 | 179973 |
| 190000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.836%, 01/15/50 | 179751 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Skandinaviska Enskilda Banken, AB\* |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.650%, 09/09/24^ | 469015 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 09/09/26 | 264942 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; SLM Corp.<br> 3.125%, 11/02/26 | 442125 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Starwood Property Trust, Inc.\* |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 11/01/23 | 498325 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.750%, 12/31/24 | 475590 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; State Street Corp.‡ |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.751%, 11/04/26<br> SOFR + 1.35% | 513930 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.354%, 11/01/25<br> SOFR + 0.94% | 480450 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; StoneX Group, Inc.\*<br> 8.625%, 06/15/25 | 507090 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; SVB Financial Group^<br> 3.500%, 01/29/25 | 1460205 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Svenska Handelsbanken, AB\*<br> 3.650%, 06/10/25 | 975090 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Toronto-Dominion Bank |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.766%, 06/06/25 | 489720 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 01/10/25 | 471125 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.200%, 06/03/26 | 223310 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 09/11/25^ | 226698 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.750%, 01/06/26 | 223965 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp.<br> 4.625%, 01/12/28 | 1010500 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Truist Financial Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.900%, 10/28/26‡<br> SOFR + 1.63% | 1034600 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.200%, 03/16/23 | 249293 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UBS AG/London\* |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 01/13/25 | 936170 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.450%, 02/09/24 | 477660 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; UBS Group, AG\*^‡<br> 4.490%, 08/05/25<br> 1 year CMT + 1.60% | $495620 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; USAA Capital Corp.\*<br> 1.500%, 05/01/23 | 496575 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ventas Realty, LP<br> 3.500%, 02/01/25 | 970250 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; VICI Properties, LP / VICI Note Company, Inc.\*<br> 3.500%, 02/15/25 | 714090 |
|  |  | 89734268 |
|  | ***Health Care (4.8%)*** |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; AstraZeneca, PLC<br> 0.700%, 04/08/26 | 223198 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Baxter International, Inc. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.322%, 11/29/24 | 939970 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.868%, 12/01/23 | 483280 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Bristol-Myers Squibb Company<br> 2.900%, 07/26/24 | 976770 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Cigna Corp.<br> 0.613%, 03/15/24 | 238548 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc.<br> 5.772%, 08/28/23 | 750007 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Elevance Health, Inc. |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.375%, 01/15/25 | 717015 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.900%, 02/08/26 | 500395 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; GE Healthcare Holding, LLC\*<br> 5.600%, 11/15/25 | 1016910 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Gilead Sciences, Inc.<br> 3.500%, 02/01/25 | 978850 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; GlaxoSmithKline Capital, PLC<br> 0.534%, 10/01/23 | 242992 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; GSK Consumer Healthcare Capital U.S., LLC |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.024%, 03/24/24 | 977730 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 03/24/25 | 240638 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Health Care Service Corp. A Mutual Legal Reserve Company\*<br> 1.500%, 06/01/25 | 926530 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Humana, Inc.<br> 0.650%, 08/03/23 | 733507 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Illumina, Inc. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.800%, 12/12/25 | 1020870 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.550%, 03/23/23 | 397484 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Laboratory Corp. of America Holdings |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.600%, 02/01/25 | 487490 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.300%, 12/01/24 | 476865 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; McKesson Corp.<br> 0.900%, 12/03/25 | 900100 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; PerkinElmer, Inc.<br> 0.850%, 09/15/24 | 467945 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Quest Diagnostics, Inc.<br> 3.500%, 03/30/25 | 730140 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Tenet Healthcare Corp.^<br> 4.625%, 09/01/24 | 493520 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Thermo Fisher Scientific, Inc.<br> 1.215%, 10/18/24 | 708735 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; UnitedHealth Group, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.250%, 02/15/28 | 521265 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.150%, 10/15/25 | 510110 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Zoetis, Inc.<br> 5.400%, 11/14/25 | 1023660 |
|  |  | 17684524 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL<br>AMOUNT** | | **VALUE** | |
|  | ***Industrials (6.2%)*** | ***Industrials (6.2%)*** | **** |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Air Lease Corp.<br> 0.800%, 08/18/24 | $466875 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Albertsons Companies, Inc. / Safeway, Inc. / New Albertsons, LP / Albertsons, LLC\*<br> 3.500%, 02/15/23 | 749565 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Company\*<br> 7.250%, 08/15/27 | 490835 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp; Ball Corp. |  |
| 410000 | &nbsp;&nbsp;&nbsp;&nbsp; 6.875%, 03/15/28 | 423555 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.000%, 11/15/23 | 247080 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Beacon Roofing Supply, Inc.\*^<br> 4.500%, 11/15/26 | 715515 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Canadian Pacific Railway Company<br> 1.350%, 12/02/24 | 939620 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Cascades, Inc. / Cascades USA, Inc.\*<br> 5.125%, 01/15/26 | 936340 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Daimler Trucks Finance North America, LLC\*<br> 1.125%, 12/14/23 | 483290 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc.<br> 3.800%, 04/19/23 | 997970 |  |
| 916661 | &nbsp;&nbsp;&nbsp;&nbsp; Delta Air Lines, Inc. / SkyMiles IP, Ltd.\*<br> 4.500%, 10/20/25 | 906138 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; GATX Corp.<br> 4.350%, 02/15/24 | 496435 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC\* |  |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.512%, 04/15/26 | 444670 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.821%, 04/15/24 | 474075 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; GXO Logistics, Inc.<br> 1.650%, 07/15/26 | 436455 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Hawaiian Brand Intellectual Property, Ltd. / HawaiianMiles Loyalty, Ltd.\*<br> 5.750%, 01/20/26 | 717668 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Infor, Inc.\*<br> 1.450%, 07/15/23 | 488905 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; John Deere Capital Corp.<br> 2.125%, 03/07/25 | 953120 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; L3Harris Technologies, Inc.<br> 3.850%, 06/15/23 | 995400 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Leidos, Inc. | &nbsp;&nbsp;&nbsp;&nbsp; Leidos, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.625%, 05/15/25 | 486315 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.950%, 05/15/23 | 496970 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Owens Corning<br> 4.200%, 12/01/24 | 492570 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Parker-Hannifin Corp.<br> 2.700%, 06/14/24 | 970380 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Penske Truck Leasing Company, LP / PTL Finance Corp.\*<br> 4.200%, 04/01/27 | 961630 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Roper Technologies, Inc.<br> 1.000%, 09/15/25 | 456340 |  |
| 700000 | &nbsp;&nbsp;&nbsp;&nbsp; Ryder System, Inc.<br> 3.875%, 12/01/23 | 692664 |  |
| 389000 | &nbsp;&nbsp;&nbsp;&nbsp; Sealed Air Corp.\*<br> 6.125%, 02/01/28 | 392773 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Siemens Financieringsmaatschappij, NV\*^<br> 0.400%, 03/11/23 | 248910 |  |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br>AMOUNT** | | **VALUE** |
|  | &nbsp;&nbsp;&nbsp;&nbsp; SMBC Aviation Capital Finance DAC\* |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 07/15/23 | $995250 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.900%, 10/15/26 | 434345 |
| 49000 | &nbsp;&nbsp;&nbsp;&nbsp; TransDigm, Inc.\*<br> 6.250%, 03/15/26 | 49032 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Tyco Electronics Group SA<br> 4.500%, 02/13/26 | 500675 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verisk Analytics, Inc.<br> 4.000%, 06/15/25 | 979580 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Waste Management, Inc.<br> 3.500%, 05/15/24 | 984060 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; WESCO Distribution, Inc.\*<br> 7.125%, 06/15/25 | 762457 |
| 723000 | &nbsp;&nbsp;&nbsp;&nbsp; Williams Scotsman International, Inc.\*<br> 6.125%, 06/15/25 | 726593 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22994055 |
|  | ***Information Technology (4.9%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Autodesk, Inc.^<br> 4.375%, 06/15/25 | 995590 |
| 715000 | &nbsp;&nbsp;&nbsp;&nbsp; Broadridge Financial Solutions, Inc.<br> 3.400%, 06/27/26 | 683962 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; CDW, LLC / CDW Finance Corp. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.500%, 12/01/24 | 499910 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.125%, 05/01/25 | 290733 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; CGI, Inc.<br> 1.450%, 09/14/26 | 448620 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Fidelity National Information Services, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.500%, 07/15/25 | 496190 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.600%, 03/01/24 | 477055 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Fortinet, Inc.<br> 4.500%, 02/06/26 | 500575 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Hewlett Packard Enterprise Company |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.450%, 04/01/24 | 721650 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.250%, 04/01/23 | 298662 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; HP, Inc.<br> 1.450%, 06/17/26 | 446445 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Intel Corp.<br> 2.875%, 05/11/24 | 978960 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; International Business Machines Corp.<br> 1.000%, 03/15/26 | 445390 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Intuit, Inc.<br> 0.650%, 07/15/23 | 490375 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; KLA Corp.<br> 4.650%, 11/01/24 | 498100 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Mercedes-Benz Finance North America, LLC\*<br> 5.375%, 11/26/25 | 1017130 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Microsoft Corp.<br> 3.125%, 11/03/25 | 974360 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; NetApp, Inc.<br> 1.875%, 06/22/25 | 930930 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; NVIDIA Corp. 0.584%, 06/14/24 | 948040 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Open Text Corp.\*<br> 6.900%, 12/01/27 | 512800 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Oracle Corp.<br> 2.400%, 09/15/23 | 983850 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; PayPal Holdings, Inc.<br> 2.650%, 10/01/26 | 944170 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; PTC, Inc.\*<br> 3.625%, 02/15/25 | $720570 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Seagate HDD Cayman<br> 4.750%, 06/01/23 | 349524 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Take-Two Interactive Software, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.550%, 04/14/25 | 485185 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.300%, 03/28/24 | 490150 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Texas Instruments, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.600%, 02/15/28 | 510400 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 09/15/26 | 224608 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; VMware, Inc. - Class A<br> 1.000%, 08/15/24 | 704677 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18068611 |
|  | ***Materials (1.9%)*** |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Avery Dennison Corp.<br> 0.850%, 08/15/24 | 235673 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Celanese US Holdings, LLC<br> 5.900%, 07/05/24 | 1006080 |
| 350000 | &nbsp;&nbsp;&nbsp;&nbsp; Clearwater Paper Corp.\*<br> 5.375%, 02/01/25 | 343297 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Genuine Parts Company<br> 1.750%, 02/01/25 | 940970 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Linde, Inc.<br> 4.700%, 12/05/25 | 1013820 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Martin Marietta Materials, Inc.<br> 0.650%, 07/15/23 | 489800 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; OCI, NV\*<br> 4.625%, 10/15/25 | 981960 |
| 227000 | &nbsp;&nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc.\*<br> 5.875%, 08/15/23 | 227515 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Sherwin Williams Company |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.050%, 08/08/24 | 494615 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.250%, 08/08/25 | 197762 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Sonoco Products Company<br> 1.800%, 02/01/25 | 940560 |
|  |  | 6872052 |
|  | ***Other (0.7%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Diageo Capital, PLC<br> 5.200%, 10/24/25 | 1022210 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Federation des Caisses Desjardins du Quebec\*<br> 4.400%, 08/23/25 | 987310 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Gen Digital, Inc.\*<br> 6.750%, 09/30/27 | 507705 |
|  |  | 2517225 |
|  | ***Real Estate (2.3%)*** |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Corp.^<br> 0.600%, 01/15/24 | 239830 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Boston Properties, LP<br> 6.750%, 12/01/27 | 1060340 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Brixmor Operating Partnership, LP<br> 4.125%, 06/15/26 | 961480 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; EPR Properties^<br> 4.500%, 04/01/25 | 484755 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Equinix, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.000%, 09/15/25 | 452115 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.250%, 07/15/25^ | 229328 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Federal Realty Investment Trust^<br> 1.250%, 02/15/26 | 447960 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Forestar Group, Inc.\*<br> 3.850%, 05/15/26 | 673012 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** | **VALUE** | |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Healthpeak Properties, Inc.^<br> 3.400%, 02/01/25 | $| 969490 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. | &nbsp;&nbsp;&nbsp;&nbsp; Realty Income Corp. |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.050%, 01/13/26 |  | 1002680 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4.625%, 11/01/25 |  | 499325 |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, LP | &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, LP | &nbsp;&nbsp;&nbsp;&nbsp; Simon Property Group, LP |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.375%, 01/15/27^ |  | 446145 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2.000%, 09/13/24 |  | 239660 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Welltower OP, LLC<br> 3.625%, 03/15/24 |  | 492140 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Welltower, Inc.<br> 4.000%, 06/01/25 |  | 244807 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8443067 |  |
|  | ***Special Purpose Acquisition Companies (0.6%)*** | ***Special Purpose Acquisition Companies (0.6%)*** | ***Special Purpose Acquisition Companies (0.6%)*** | **** |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; New York Life Global Funding\*<br> 3.600%, 08/05/25 |  | 975350 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Novartis Capital Corp.<br> 3.400%, 05/06/24 |  | 986150 |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Shire Acquisitions Investments Ireland DAC<br> 2.875%, 09/23/23 |  | 394100 |  |
|  |  |  | 2355600 |  |
|  | ***Utilities (2.5%)*** | ***Utilities (2.5%)*** | ***Utilities (2.5%)*** | **** |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; AES Corp.<br> 1.375%, 01/15/26 |  | 225653 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Alexander Funding Trust\*<br> 1.841%, 11/15/23 |  | 482310 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; American Electric Power Company, Inc.^<br> 0.750%, 11/01/23 |  | 485275 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; CMS Energy Corp.<br> 3.600%, 11/15/25 |  | 963740 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Consolidated Edison, Inc.<br> 0.650%, 12/01/23 |  | 241460 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; DPL, Inc.<br> 4.125%, 07/01/25 |  | 287553 |  |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Enel Finance International, NV\*<br> 2.650%, 09/10/24 |  | 721237 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Arkansas, LLC<br> 3.500%, 04/01/26 |  | 243940 |  |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Corp.<br> 0.900%, 09/15/25 |  | 270438 |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Entergy Texas, Inc.<br> 1.500%, 09/01/26 |  | 442350 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance Corp.<br> 5.450%, 10/30/25 |  | 1021970 |  |
| 167000 | &nbsp;&nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings, Inc.<br> 0.650%, 03/01/23 |  | 166442 |  |
| 25000 | &nbsp;&nbsp;&nbsp;&nbsp; PPL Capital Funding, Inc.‡<br> 7.395%, 03/30/67<br> 3 mo. USD LIBOR + 2.67% |  | 22012 |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Public Service Electric and Gas Company^<br> 0.950%, 03/15/26 |  | 225870 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Public Service Enterprise Group, Inc.<br> 0.841%, 11/08/23 |  | 969660 |  |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Sempra Energy<br> 3.300%, 04/01/25 |  | 193780 |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Southern California Gas Company<br> 3.150%, 09/15/24 |  | 975470 |  |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Southern Power Company<br> 0.900%, 01/15/26 | $225365 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; WEC Energy Group, Inc. |  |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.000%, 09/27/25 | 503620 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.800%, 03/15/24 | 477595 |
|  |  | 9145740 |
|  | **TOTAL CORPORATE BONDS**<br> (Cost $235,977,110) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228199443 |
| **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (5.3%)** | **U.S. GOVERNMENT AND AGENCY<br>SECURITIES (5.3%)** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp.<br> 4.000%, 11/25/24 | 987900 |
|  | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Note |  |
| 5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.125%, 08/15/25 | 5387207 |
| 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.500%, 09/15/25 | 4945117 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3.000%, 07/15/25 | 3906563 |
| 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1.125%, 10/31/26 | 3636875 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 0.625%, 10/15/24 | 939648 |
|  | **TOTAL U.S. GOVERNMENT AND AGENCY SECURITIES**<br> (Cost $20,338,481) | 19803310 |
| **SOVEREIGN BONDS (0.8%)** | **SOVEREIGN BONDS (0.8%)** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Export Development Canada<br> 3.375%, 08/26/25 | 983800 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Kommunalbanken AS\*<br> 0.500%, 01/13/26 | 450205 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Svensk Exportkredit AB^<br> 3.625%, 09/03/24 | 1476735 |
|  | **TOTAL SOVEREIGN BONDS**<br> (Cost $2,995,570) | 2910740 |
| **BANK LOANS (9.3%) ¡** | **BANK LOANS (9.3%) ¡** |  |
|  | ***Airlines (0.5%)*** |  |
| 470000 | &nbsp;&nbsp;&nbsp;&nbsp; American Airlines, Inc.‡<br> 9.558%, 04/20/28<br> 3 mo. LIBOR + 4.75% | 483364 |
| 1159579 | &nbsp;&nbsp;&nbsp;&nbsp; Mileage Plus Holdings, LLC‡<br> 9.996%, 06/21/27<br> 3 mo. LIBOR + 5.25% | 1210966 |
|  |  | 1694330 |
|  | ***Communication Services (1.5%)*** |  |
| 1976603 | &nbsp;&nbsp;&nbsp;&nbsp; Charter Communications Operating, LLC‡<br> 6.320%, 04/30/25<br> 1 mo. LIBOR + 1.75% | 1975872 |
| 680946 | &nbsp;&nbsp;&nbsp;&nbsp; DIRECTV Financing, LLC‡<br> 9.570%, 08/02/27<br> 1 mo. LIBOR + 5.00% | 671195 |
| 1176091 | &nbsp;&nbsp;&nbsp;&nbsp; Go Daddy Operating Company, LLC‡<br> 7.811%, 11/09/29<br> 1 mo. SOFR + 3.25% | 1181977 |
| 590437 | &nbsp;&nbsp;&nbsp;&nbsp; Nexstar Broadcasting, Inc.‡<br> 7.070%, 09/18/26<br> 1 mo. LIBOR + 2.50% | 591420 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 932411 | &nbsp;&nbsp;&nbsp;&nbsp; SBA Senior Finance II, LLC‡<br> 6.320%, 04/11/25<br> 1 mo. LIBOR + 1.75% | $932145 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5352609 |
|  | ***Consumer Discretionary (0.9%)*** |  |
| 992500 | &nbsp;&nbsp;&nbsp;&nbsp; Avis Budget Car Rental, LLC‡<br> 8.161%, 03/16/29<br> 1 mo. SOFR + 3.50% | 993329 |
| 983734 | &nbsp;&nbsp;&nbsp;&nbsp; Murphy USA, Inc.‡<br> 6.120%, 01/31/28<br> 1 mo. LIBOR + 1.75% | 990193 |
| 493734 | &nbsp;&nbsp;&nbsp;&nbsp; PetSmart, Inc.‡<br> 8.411%, 02/11/28<br> 1 mo. SOFR + 3.75% | 491061 |
| 712500 | &nbsp;&nbsp;&nbsp;&nbsp; SkyMiles IP, Ltd.‡<br> 8.558%, 10/20/27<br> 3 mo. LIBOR + 3.75% | 738064 |
|  |  | 3212647 |
|  | ***Energy (0.1%)*** |  |
| 550077 | &nbsp;&nbsp;&nbsp;&nbsp; DT Midstream, Inc.‡<br> 6.570%, 06/26/28<br> 1 mo. LIBOR + 2.00% | 552024 |
|  | ***Financials (0.2%)*** |  |
| 889339 | &nbsp;&nbsp;&nbsp;&nbsp; Jazz Financing Lux Sarl‡<br> 8.070%, 05/05/28<br> 1 mo. LIBOR + 3.50% | 889477 |
|  | ***Health Care (1.5%)*** |  |
| 359635 | &nbsp;&nbsp;&nbsp;&nbsp; Avantor Funding, Inc.‡<br> 6.820%, 11/08/27<br> 1 mo. LIBOR + 2.25% | 359997 |
| 934609 | &nbsp;&nbsp;&nbsp;&nbsp; Catalent Pharma Solutions, Inc.‡<br> 6.563%, 02/22/28<br> 1 mo. LIBOR + 2.00% | 933245 |
| 989796 | &nbsp;&nbsp;&nbsp;&nbsp; DaVita, Inc.‡<br> 6.320%, 08/12/26<br> 1 mo. LIBOR + 1.75% | 980086 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Elanco Animal Health, Inc.!<br> 0.000%, 08/01/27 | 985750 |
| 304919 | &nbsp;&nbsp;&nbsp;&nbsp; Icon Luxembourg Sarl‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 305302 |
| 965428 | &nbsp;&nbsp;&nbsp;&nbsp; Organon & Company‡<br> 7.750%, 06/02/28<br> 3 mo. LIBOR + 3.00% | 965727 |
| 995000 | &nbsp;&nbsp;&nbsp;&nbsp; Perrigo Investments, LLC‡<br> 7.161%, 04/20/29<br> 1 mo. SOFR + 2.50% | 998731 |
| 75971 | &nbsp;&nbsp;&nbsp;&nbsp; PRA Health Sciences, Inc.‡<br> 7.000%, 07/03/28<br> 3 mo. LIBOR + 2.25% | 76066 |
|  |  | 5604904 |
|  | ***Industrials (2.6%)*** |  |
| 1183234 | &nbsp;&nbsp;&nbsp;&nbsp; AECOM Technology Corp.‡<br> 6.320%, 04/13/28<br> 1 mo. LIBOR + 1.75% | 1184589 |
| 497500 | &nbsp;&nbsp;&nbsp;&nbsp; Air Canada‡<br> 8.130%, 08/11/28<br> 3 mo. LIBOR + 3.50% | 498831 |
| 895430 | &nbsp;&nbsp;&nbsp;&nbsp; APi Group DE, Inc.‡<br> 7.297%, 01/03/29<br> 1 mo. LIBOR + 2.75% | 896554 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 1478200 | &nbsp;&nbsp;&nbsp;&nbsp; Berry Global, Inc.‡<br> 6.152%, 07/01/26<br> 1 mo. LIBOR + 1.75% | $1477195 |
| 983734 | &nbsp;&nbsp;&nbsp;&nbsp; Horizon Therapeutics USA, Inc.‡<br> 6.313%, 03/15/28<br> 3 mo. LIBOR + 1.75% | 985426 |
| 989950 | &nbsp;&nbsp;&nbsp;&nbsp; JELD-WEN, Inc.‡<br> 6.820%, 07/28/28<br> 1 mo. LIBOR + 2.25% | 954272 |
| 521504 | &nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands, Inc.‡<br> 6.740%, 03/03/28<br> 3 mo. LIBOR + 2.00% | 521178 |
| 393456 | &nbsp;&nbsp;&nbsp;&nbsp; Spectrum Brands, Inc.‡<br> 6.570%, 03/03/28<br> 1 mo. LIBOR + 2.00% | 393210 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Summit Materials, LLC‡<br> 7.608%, 12/14/27<br> 3 mo. SOFR + 3.00% | 1003960 |
| 1076402 | &nbsp;&nbsp;&nbsp;&nbsp; United Rentals, Inc.‡<br> 6.320%, 10/31/25<br> 1 mo. LIBOR + 1.75% | 1079362 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; XPO Logistics, Inc.‡<br> 6.134%, 02/24/25<br> 1 mo. LIBOR + 1.75% | 748942 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9743519 |
|  | ***Information Technology (0.7%)*** |  |
| 640236 | &nbsp;&nbsp;&nbsp;&nbsp; ON Semiconductor Corp.‡<br> 6.661%, 09/19/26<br> 1 mo. LIBOR + 2.00% | 641663 |
| 876811 | &nbsp;&nbsp;&nbsp;&nbsp; TTM Technologies, Inc.‡<br> 6.869%, 09/28/24<br> 1 mo. LIBOR + 2.50% | 876811 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; ZoomInfo, LLC‡<br> 7.661%, 02/02/26<br> 1 mo. SOFR + 3.00% | 1004790 |
|  |  | 2523264 |
|  | ***Information Technology (0.3%)*** |  |
| 1224554 | &nbsp;&nbsp;&nbsp;&nbsp; II-VI, Inc.‡<br> 7.320%, 07/02/29<br> 1 mo. LIBOR + 2.75% | 1224168 |
|  | ***Materials (0.7%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; American Axle and Manufacturing, Inc.‡<br> 8.033%, 12/13/29<br> 1 mo. SOFR + 3.60% | 1001665 |
| 455000 | &nbsp;&nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B B.V‡<br> 7.506%, 12/20/29<br> 3 mo. SOFR + 3.00% | 457559 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; H.B. Fuller Company‡<br> 6.486%, 10/20/24<br> 1 mo. LIBOR + 2.00% | 1002230 |
|  |  | 2461454 |
|  | ***Other (0.3%)*** |  |
| 997500 | &nbsp;&nbsp;&nbsp;&nbsp; ChampionX Corp.‡<br> 7.747%, 06/07/29<br> 1 mo. SOFR + 3.25% | 999216 |
|  | **TOTAL BANK LOANS**<br> (Cost $34,140,361) | 34257612 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| **ASSET BACKED SECURITIES (17.2%)** | **ASSET BACKED SECURITIES (17.2%)** | **ASSET BACKED SECURITIES (17.2%)** |
|  | ***Communication Services (0.9%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; T-Mobile US Trust Series 2022- 1A, Class A\*<br> 4.910%, 05/22/28 | $1004193 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Master Trust Series 2021- 2, Class B<br> 1.280%, 04/20/28 | 936351 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Owner Trust Series 2020- A, Class B<br> 1.980%, 07/22/24 | 990706 |
| 237844 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Owner Trust Series 2020- B, Class A<br> 0.470%, 02/20/25 | 234546 |
|  |  | 3165796 |
|  | ***Consumer Discretionary (0.9%)*** |  |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP, LLC Series 2019-2A, Class A\*<br> 3.350%, 09/22/25 | 1454974 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; BMW Vehicle Lease Trust 2022-1 Series 2022-1, Class A3<br> 1.100%, 03/25/25 | 1942309 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3397283 |
|  | ***Financials (8.7%)*** |  |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; American Express Credit Account Master Trust Series 2021-1, Class A<br> 0.900%, 11/15/26 | 1873839 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; American Tower Trust #1 Series 13, Class 2A\*<br> 3.070%, 03/15/48 | 497888 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Multi-Asset Execution Trust Series 2021-A3, Class A3<br> 1.040%, 11/15/26 | 1879132 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Capital One Prime Auto Receivables Trust Series 2022-1, Class A3<br> 3.170%, 04/15/27 | 969693 |
| 366873 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2017-B-GS, Class A1\*<br> 2.680%, 09/25/42 | 344911 |
| 142237 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2018-C-GS, Class A1\*<br> 3.870%, 02/25/46 | 136854 |
| 459702 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2019-A-GS, Class A1\*<br> 2.540%, 01/25/47 | 426144 |
| 234229 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2021-A-GS, Class A\*<br> 1.200%, 03/25/52 | 201781 |
| 736276 | &nbsp;&nbsp;&nbsp;&nbsp; Commonbond Student Loan Trust Series 2021-B-GS, Class A\*<br> 1.170%, 09/25/51 | 609873 |
| 726012 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust Series 2020-3A, Class A\*<br> 1.240%, 10/15/29 | 711909 |
| 1140000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust Series 2021-2A, Class A\*<br> 0.960%, 02/15/30 | 1100698 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust Series 2021-4, Class A\*<br> 1.260%, 10/15/30 | 472074 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 165513 | &nbsp;&nbsp;&nbsp;&nbsp; Dell Equipment Finance Trust Series 2020-2, Class A3\*<br> 0.570%, 10/23/23 | $164249 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Dell Equipment Finance Trust Series 2021-1, Class B\*<br> 0.710%, 05/22/26 | 290545 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Dell Equipment Finance Trust Series 2022-2, Class B\*<br> 4.400%, 07/22/27 | 244321 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Discover Card Execution Note Trust Series 2022-A2, Class A<br> 3.320%, 05/15/27 | 1461858 |
| 925702 | &nbsp;&nbsp;&nbsp;&nbsp; ELFI Graduate Loan Program, LLC Series 2021-A, Class A\*<br> 1.530%, 12/26/46 | 831606 |
| 1150214 | &nbsp;&nbsp;&nbsp;&nbsp; ELFI Graduate Loan Program, LLC Series 2022-A, Class A\*<br> 4.510%, 08/26/47 | 1130443 |
| 9927 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Fleet Financing, LLC Series 2019-3, Class A2\*<br> 2.060%, 05/20/25 | 9911 |
| 599448 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Fleet Financing, LLC Series 2020-2, Class A2\*<br> 0.610%, 07/20/26 | 586379 |
| 515000 | &nbsp;&nbsp;&nbsp;&nbsp; Enterprise Fleet Financing, LLC Series 2022-4, Class A2\*<br> 5.760%, 10/22/29 | 521650 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust Series 2019-1, Class A\*<br> 3.520%, 07/15/30 | 1969313 |
| 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC Series 2021-1A, Class A\*<br> 1.210%, 12/26/25 | 1394947 |
| 212883 | &nbsp;&nbsp;&nbsp;&nbsp; Kubota Credit Owner Trust Series 2020-1A, Class A3\*<br> 1.960%, 03/15/24 | 211825 |
| 1831536 | &nbsp;&nbsp;&nbsp;&nbsp; MMAF Equipment Finance LLC Series 2017-B, Class A5\*<br> 2.720%, 06/15/40 | 1782883 |
| 1611075 | &nbsp;&nbsp;&nbsp;&nbsp; Navient Private Education Refi Loan Trust Series 2020-BA, Class A2\*<br> 2.120%, 01/15/69 | 1481271 |
| 271000 | &nbsp;&nbsp;&nbsp;&nbsp; NextGear Floorplan Master Owner Trust Series 2021-1A, Class A\*<br> 0.850%, 07/15/26 | 254036 |
| 780000 | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Direct Auto Receivables Trust Series 2021-1A, Class A\*<br> 0.870%, 07/14/28 | 730209 |
| 777000 | &nbsp;&nbsp;&nbsp;&nbsp; OneMain Direct Auto Receivables Trust Series 2021-1A, Class B\*<br> 1.260%, 07/14/28 | 698075 |
| 860000 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar US Funding XII, LLC Series 2021-1A, Class A4\*<br> 1.000%, 04/10/28 | 795132 |
| 418695 | &nbsp;&nbsp;&nbsp;&nbsp; Oscar US Funding XIII, LLC Series 2021-2A, Class A2\*<br> 0.390%, 08/12/24 | 414355 |
| 270512 | &nbsp;&nbsp;&nbsp;&nbsp; Pawnee Equipment Receivables, LLC Series 2020-1, Class A\*<br> 1.370%, 11/17/25 | 267660 |
| 315998 | &nbsp;&nbsp;&nbsp;&nbsp; Pawneee Equipment Receivables, LLC Series 2021-1, Class A2\*<br> 1.100%, 07/15/27 | 303046 |
| 750000 | &nbsp;&nbsp;&nbsp;&nbsp; Pawneee Equipment Receivables, LLC Series 2022-1, Class A3\*<br> 5.170%, 02/15/28 | 745824 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; PenFed Auto Receivables Owner Trust Series 2022-A, Class A3\*<br> 3.960%, 04/15/26 | $394867 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; PenFed Auto Receivables Owner Trust Series 2022-A, Class A4\*<br> 4.180%, 12/15/28 | 296942 |
| 1240000 | &nbsp;&nbsp;&nbsp;&nbsp; Progress Residential Trust Series 2019-SFR4, Class A\*<br> 2.687%, 10/17/36 | 1187769 |
| 792000 | &nbsp;&nbsp;&nbsp;&nbsp; Progress Residential Trust Series 2021-SFR5, Class B\*<br> 1.658%, 07/17/38 | 699768 |
| 1385522 | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Professional Loan Program Trust Series 2020-C, Class AFX\*<br> 1.950%, 02/15/46 | 1272121 |
| 979798 | &nbsp;&nbsp;&nbsp;&nbsp; SoFi Professional Loan Program, LLC Series 2017-F, Class A2FX\*<br> 3.600%, 02/25/48 | 949292 |
| 1615000 | &nbsp;&nbsp;&nbsp;&nbsp; Toyota Auto Loan Extended Note Trust Series 2019-1A, Class A\*<br> 2.560%, 11/25/31 | 1563964 |
| 113760 | &nbsp;&nbsp;&nbsp;&nbsp; World Omni Select Auto Trust Series 2020-A, Class A3<br> 0.550%, 07/15/25 | 112912 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31991969 |
|  | ***Health Care (0.3%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; DT Auto Owner Trust Series 2022-2A, Class B\*<br> 4.220%, 01/15/27 | 983558 |
|  | ***Industrials (0.2%)*** |  |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; John Deere Owner Trust Series 2021-B, Class A4<br> 0.740%, 05/15/28 | 918050 |
|  | ***Other (5.7%)*** |  |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Aligned Data Centers Issuer, LLC Series 2021-1A, Class A2\*<br> 1.937%, 08/15/46 | 1770676 |
| 1305659 | &nbsp;&nbsp;&nbsp;&nbsp; Amur Equipment Finance Receivables VIII, LLC Series 2020-1A, Class C\*<br> 3.060%, 04/20/26 | 1283076 |
| 600000 | &nbsp;&nbsp;&nbsp;&nbsp; Amur Equipment Finance Receivables XI, LLC Series 2022- 2A, Class A2\*<br> 5.300%, 06/21/28 | 597134 |
| 1144400 | &nbsp;&nbsp;&nbsp;&nbsp; Atalaya Equipment Leasing Trust Series 2021-1A, Class A2\*<br> 1.230%, 05/15/26 | 1115177 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; BA Credit Card Trust Series 2022- A1, Class A1<br> 3.530%, 11/15/27 | 979199 |
| 330000 | &nbsp;&nbsp;&nbsp;&nbsp; CCG Receivables Trust Series 2021-2, Class B\*<br> 1.270%, 03/14/29 | 301106 |
| 1473333 | &nbsp;&nbsp;&nbsp;&nbsp; CLI Funding VI, LLC Series 2020- 3A, Class A\*<br> 2.070%, 10/18/45 | 1311350 |
| 144254 | &nbsp;&nbsp;&nbsp;&nbsp; CNH Equipment Trust Series 2020-A, Class A3<br> 1.160%, 06/16/25 | 142384 |
| 1609000 | &nbsp;&nbsp;&nbsp;&nbsp; CNH Equipment Trust Series 2020-A, Class B<br> 2.300%, 10/15/27 | 1549046 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Daimler Trucks Retail Trust Series 2022-1, Class A3<br> 5.230%, 02/17/26 | $1001255 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; DLLAD, LLC - Class A3\*<br> 4.790%, 01/20/28 | 999150 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; HPEFS Equipment Trust Series 2021-1A, Class B\*<br> 0.570%, 03/20/31 | 489058 |
| 1250000 | &nbsp;&nbsp;&nbsp;&nbsp; HPEFS Equipment Trust Series 2022-1A, Class B\*<br> 1.790%, 05/21/29 | 1191786 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; HPEFS Equipment Trust Series 2022-2A, Class B\*<br> 4.200%, 09/20/29 | 243461 |
| 246501 | &nbsp;&nbsp;&nbsp;&nbsp; MVW Owner Trust Series 2019- 1A, Class A\*<br> 2.890%, 11/20/36 | 232997 |
| 397948 | &nbsp;&nbsp;&nbsp;&nbsp; SCF Equipment Leasing, LLC Series 2020-1A, Class A3\*<br> 1.190%, 10/20/27 | 389846 |
| 972765 | &nbsp;&nbsp;&nbsp;&nbsp; SCF Equipment Leasing, LLC Series 2021-1A, Class A3\*<br> 0.830%, 08/21/28 | 931187 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust Series 2021-A, Class B\*<br> 1.020%, 03/20/25 | 480497 |
| 775000 | &nbsp;&nbsp;&nbsp;&nbsp; Tesla Auto Lease Trust Series 2021-B, Class B\*<br> 0.910%, 09/22/25 | 722019 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; USAA Auto Owner Trust Series 2022-A, Class A3\*<br> 4.860%, 11/16/26 | 1001454 |
| 1485417 | &nbsp;&nbsp;&nbsp;&nbsp; Vantage Data Centers Issuer, LLC Series 2018-2A, Class A2\*<br> 4.196%, 11/15/43 | 1459873 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Master Trust - Class A‡<br> 4.490%, 01/22/29 | 1000474 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; World Omni Auto Receivables Trust Series 2022-B, Class A3<br> 3.250%, 07/15/27 | 1948125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21140330 |
|  | ***Utilities (0.5%)*** |  |
| 18775 | &nbsp;&nbsp;&nbsp;&nbsp; Harley-Davidson Motorcycle Trust Series 2020-A, Class A3<br> 1.870%, 10/15/24 | 18736 |
| 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; Harley-Davidson Motorcycle Trust Series 2022-A, Class A3<br> 3.060%, 02/15/27 | 1949200 |
|  |  | 1967936 |
|  | **TOTAL ASSET BACKED SECURITIES**<br> (Cost $66,230,389) | 63564922 |
| **MUNICIPAL OBLIGATIONS (4.0%)** | **MUNICIPAL OBLIGATIONS (4.0%)** |  |
|  | ***Airlines (0.1%)*** |  |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Dallas Fort Worth International Airport<br> 1.041%, 11/01/23 | 243112 |
|  | ***Other (3.7%)*** |  |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Alaska Housing Finance Corp.<br> 0.846%, 12/01/23 | 387607 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Armada Area Schools<br> 0.950%, 05/01/25 | $231139 |
| 155000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Auburn CA<br> 0.961%, 06/01/25 | 141884 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Carbondale IL<br> 2.163%, 12/01/23 | 243410 |
| 280000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Mishawaka IN<br> 4.680%, 02/15/26 | 279255 |
| 205000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Mishawaka IN<br> 4.700%, 08/15/26 | 204599 |
| 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Montclair CA<br> 0.926%, 06/01/24 | 946458 |
| 850000 | &nbsp;&nbsp;&nbsp;&nbsp; City of San Ramon CA<br> 0.490%, 07/01/23 | 832236 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Wheaton IL<br> 0.786%, 12/01/24 | 466177 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Willows CA<br> 0.770%, 08/01/23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293087 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Colorado Housing and Finance Authority<br> 1.650%, 11/01/25 | 278549 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Colorado Housing and Finance Authority<br> 0.858%, 11/01/24 | 142114 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Corona-Norco Unified School District<br> 1.000%, 09/01/25 | 226835 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; County of Bergen NJ<br> 2.000%, 11/01/23 | 244470 |
| 295000 | &nbsp;&nbsp;&nbsp;&nbsp; County of San Diego CA<br> 0.600%, 10/01/23 | 286659 |
| 155000 | &nbsp;&nbsp;&nbsp;&nbsp; County of Santa Cruz AZ Pledged Revenue<br> 1.250%, 07/01/24 | 145989 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Cypress-Fairbanks Independent School District<br> 5.000%, 02/15/25 | 252818 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Duluth Independent School District No 709<br> 2.000%, 02/01/23 | 400000 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Encinitas Public Financing Authority<br> 1.020%, 10/01/25 | 160319 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Encinitas Public Financing Authority<br> 0.790%, 10/01/24 | 164365 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Fairfield Facilities Corp.<br> 2.000%, 09/01/24 | 381848 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Galveston Independent School District<br> 5.000%, 02/01/25 | 252491 |
| 175000 | &nbsp;&nbsp;&nbsp;&nbsp; Haverstraw-Stony Point Central School District<br> 0.790%, 05/01/23 | 173097 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Indiana Bond Bank<br> 0.650%, 02/01/24 | 191082 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Indiana Bond Bank<br> 0.470%, 02/01/23 | 200000 |
| 640000 | &nbsp;&nbsp;&nbsp;&nbsp; Kentucky Housing Corp.<br> 0.550%, 07/01/23 | 628201 |
| 500000 | &nbsp;&nbsp;&nbsp;&nbsp; Lake Central Multi-District School Building Corp.<br> 0.853%, 01/15/24 | 479983 |
| 200000 | &nbsp;&nbsp;&nbsp;&nbsp; Lakeside Fire Protection District<br> 1.250%, 08/01/23 | 196030 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Lakeside Fire Protection District<br> 1.620%, 08/01/24 | 118825 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

---

| | | | |
|:---|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** | **VALUE** |
| 215000 | &nbsp;&nbsp;&nbsp;&nbsp; Minnetonka Independent School District No 276<br> 2.000%, 01/01/24 | $| 209665 |
| 390000 | &nbsp;&nbsp;&nbsp;&nbsp; New York City Transitional Finance Authority Future Tax Secured Revenue<br> 1.250%, 05/01/26 |  | 352296 |
| 255000 | &nbsp;&nbsp;&nbsp;&nbsp; New York State Dormitory Authority<br> 2.438%, 02/15/26 |  | 239835 |
| 150000 | &nbsp;&nbsp;&nbsp;&nbsp; Pharr San Juan Alamo Independent School District TX<br> 5.000%, 02/01/25 |  | 151373 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Reedy Creek Improvement District<br> 1.549%, 06/01/23 |  | 246738 |
| 265000 | &nbsp;&nbsp;&nbsp;&nbsp; Sallisaw Municipal Authority<br> 1.420%, 09/01/24 |  | 250197 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; San Bernardino City Unified School District<br> 0.792%, 08/01/23 |  | 391651 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Thornapple Kellogg School District<br> 0.930%, 05/01/25 |  | 231614 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Town of Oyster Bay NY<br> 2.000%, 08/15/23 |  | 245909 |
| 525000 | &nbsp;&nbsp;&nbsp;&nbsp; Town of Stratford CT 0.956%, 08/01/24 |  | 496312 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; Verizon Master Trust - Class A<br> 3.000%, 06/01/25 |  | 383099 |
| 250000 | &nbsp;&nbsp;&nbsp;&nbsp; Village of Tarrytown NY<br> 2.000%, 10/15/23 |  | 245220 |
| 300000 | &nbsp;&nbsp;&nbsp;&nbsp; Virginia Housing Development Authority<br> 0.607%, 09/01/23 |  | 292692 |
| 400000 | &nbsp;&nbsp;&nbsp;&nbsp; West Mifflin Sanitary Sewer Municipal Authority<br> 1.052%, 08/01/23 |  | 392197 |
| 125000 | &nbsp;&nbsp;&nbsp;&nbsp; Wichita Falls 4B Sales Tax Corp.<br> 1.049%, 09/01/25 |  | 113966 |
| 340000 | &nbsp;&nbsp;&nbsp;&nbsp; Williamston Community Schools School District<br> 1.050%, 05/01/25 |  | 315859 |
|  |  |  | 13508150 |
|  | ***Utilities (0.2%)*** |  |  |
| 505000 | &nbsp;&nbsp;&nbsp;&nbsp; Augusta GA Water & Sewer Revenue<br> 4.300%, 10/01/26 |  | 503148 |
| 135000 | &nbsp;&nbsp;&nbsp;&nbsp; City of Fountain Company Electric Water & Wastewater Utility Enterprise Revenue<br> 0.930%, 12/01/23 |  | 130210 |
| 260000 | &nbsp;&nbsp;&nbsp;&nbsp; Twin Lakes Regional Sewer District<br> 0.570%, 07/01/23 |  | 255308 |
|  |  |  | 888666 |
|  | **TOTAL MUNICIPAL OBLIGATIONS**<br> (Cost $15,233,516) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14639928 |
| **RESIDENTIAL MORTGAGE BACKED SECURITIES (1.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES (1.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES (1.0%)** | **RESIDENTIAL MORTGAGE BACKED SECURITIES (1.0%)** |
| 1080775 | &nbsp;&nbsp;&nbsp;&nbsp; BANK 2019-BNK16<br> 3.933%, 02/15/52 |  | 1063474 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL**<br> **AMOUNT** | | **VALUE** |
| 181889 | &nbsp;&nbsp;&nbsp;&nbsp; CSAIL 2017-CX9 Commercial Mortgage Trust<br> 3.054%, 09/15/50 | $178677 |
| 1575470 | &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust 2021-PJ4\*‡<br> 2.500%, 09/25/51 | 1390253 |
| 600736 | &nbsp;&nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Trust 2021-PJ11\*‡<br> 2.500%, 04/25/52 | 531495 |
| 392715 | &nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15<br> 3.773%, 04/15/47 | 390060 |
| 111268 | &nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust 2015-LC20<br> 2.678%, 04/15/50 | 111268 |
| 50049 | &nbsp;&nbsp;&nbsp;&nbsp; WFRBS Commercial Mortgage Trust 2014-LC14<br> 3.522%, 03/15/47 | 49593 |
|  | **TOTAL RESIDENTIAL MORTGAGE BACKED SECURITIES**<br> (Cost $3,998,452) | 3714820 |
| **NUMBER OF**<br> **SHARES/**<br> **PRINCIPAL**<br> **AMOUNT** |  | **VALUE** |
| **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (2.6%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (2.6%)** | **INVESTMENT OF CASH COLLATERAL FOR SECURITIES<br>LOANED (2.6%)** |
| 9393916 | &nbsp;&nbsp;&nbsp;&nbsp; State Street Navigator Securities Lending Government Money Market Portfolio, 4.290%† | 9393916 |
|  | **TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED**<br> (Cost $9,393,916) | 9393916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.0%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**TOTAL INVESTMENTS (102.0%)** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $388,307,795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $388,307,795) | 376484691 |
| PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-2.5%) | PAYABLE UPON RETURN OF SECURITIES ON<br>LOAN (-2.5%) | (9393916) |
| OTHER ASSETS, LESS LIABILITIES (0.5%) | OTHER ASSETS, LESS LIABILITIES (0.5%) | 2134749 |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369225524 |

---

See accompanying Notes to Schedule of Investments

------

---

| |
|:---|
| **Calamos Short-Term Bond Fund** |
|  **SCHEDULE OF INVESTMENTS JANUARY 31, 2023 (UNAUDITED)** |

---

**NOTES TO SCHEDULE OF INVESTMENTS** 

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

---

| | |
|:---|:---|
| **^** | Security, or portion of security, is on loan.  |

---

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

---

| | |
|:---|:---|
| **¡** | 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.  |

---

**†** Represents investment of cash collateral received from securities on loan as of January 31, 2023.

**FUTURES CONTRACTS** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| Number of<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts  | Description | Expiration<br> Date | Notional<br> Value | Market Value/<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Buys |  |  |  |  |
| 11600000 | U.S. Treasury Note 5-Year | Mar 2023 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12672094 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9376 |
| Sales |  |  |  |  |
| 10000000 | U.S. Treasury Note 2-Year | Mar 2023 | $10282422 | $(7149) |

---

See accompanying Notes to Schedule of Investments

------

Notes to Schedules of Investments

------

**Note 1 – Organization and Significant Accounting Policies** 

**Organization.** CALAMOS INVESTMENT TRUST, a Massachusetts business trust organized December 21, 1987 (the "Trust"), consists of twenty series, *Market Neutral Income Fund, Hedged Equity Fund, Phineus Long/Short Fund, Convertible Fund, Global Convertible Fund, Timpani Small Cap Growth Fund, Timpani SMID Growth Fund, Growth Fund, Growth and Income Fund, Dividend Growth Fund, Select Fund, International Growth Fund , Evolving World Growth Fund, Global Equity Fund, Global Opportunities Fund, International Small Cap Growth Fund (commenced operations on March 31, 2022), Global Sustainable Equities Fund (commenced operations on December 17, 2021), Total Return Bond Fund, High Income Opportunities Fund, and Short-Term Bond Fund* (each a "Fund" and collectively the "Funds"). The Trust is registered under the Investment Company Act of 1940 as amended (the "1940 Act") as an open-end management investment company. The Fund is considered an investment company under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies. The Trust currently offers Class A, Class C (except Timpani SMID Growth Fund and Short-Term Bond Fund), and Class I shares of each of the Funds. Class R6 shares are offered in Market Neutral Income Fund, Timpani Small Cap Growth Fund, Timpani SMID Growth Fund, Growth and Income Fund, International Growth Fund, Global Equity Fund, International Small Cap Growth Fund, and Global Sustainable Equities Fund only.

**Significant Accounting Policies.** The Schedules of Investments have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and the Funds are each considered an investment company under U.S. GAAP and follow the accounting and reporting guidance applicable to investment companies. The following summarizes the significant accounting policies of the Funds:

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

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

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

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

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

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

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

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

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

------

Notes to Schedules of Investments

------

**Forward Foreign Currency Contracts.** Each Fund may engage in portfolio hedging with respect to changes in currency exchange rates by entering into forward foreign currency contracts to purchase or sell currencies. A forward foreign currency contract is a commitment to purchase or sell a foreign currency at a future date at a negotiated forward rate. Risks associated with such contracts include, among other things, movement in the value of the foreign currency relative to the U.S. dollar and the ability of the counterparty to perform. The net unrealized gain, if any, represents the credit risk to the Fund on a forward foreign currency contract. The contracts are valued daily at forward foreign exchange rates.

As of January 31, 2023, the Fund had outstanding forward foreign currency contracts as listed on the Schedule of Investments.

**Note 2 – Investments** 

The cost basis of investments (excluding Investments of Collateral for Securities on Loan) for federal income tax purposes at January 31, 2023 was as follows:\*

---

| | | | | |
|:---|:---|:---|:---|:---|
| **FUND** | **COST BASIS OF** <br> **INVESTMENTS**  | **GROSS UNREALIZED**<br> **APPRECIATION** | **GROSS UNREALIZED**<br> **DEPRECIATION** | **NET UNREALIZED** <br> **APPRECIATION** <br> **(DEPRECIATION)**  |
|  Market Neutral Income Fund | $11227966694 | $2769189172 | $(1432947688) | $1336241484 |
|  Hedged Equity Fund | 468831776 | 126667331 | (23452157) | 103215174 |
|  Phineus Long/Short Fund | 260785428 | 88057978 | (40346825) | 47711153 |
|  Convertible Fund | 984442076 | 87768030 | (58767133) | 29000897 |
|  Global Convertible Fund | 148548252 | 9599826 | (26034448) | (16434622) |
|  Timpani Small Cap Growth Fund | 262931134 | 50872730 | (1621657) | 49251073 |
|  Timpani SMID Growth Fund | 14732050 | 2668190 | (92553) | 2575637 |
|  Growth Fund | 852048291 | 298974907 | (9165615) | 289809292 |
|  Growth and Income Fund | 1385239709 | 855135575 | (33435788) | 821699787 |
|  Dividend Growth Fund | 11974160 | 6384097 | (181191) | 6202906 |
|  Select Fund | 32215719 | 9831145 | (22623) | 9808522 |
|  International Growth Fund | 194856326 | 39510507 | (3463467) | 36047040 |
|  Evolving World Growth Fund | 391922014 | 59250484 | (14320693) | 44929791 |
|  Global Equity Fund | 56045819 | 23796376 | (459246) | 23337130 |
|  Global Opportunities Fund | 180587525 | 44767878 | (2594946) | 42172932 |
|  International Small Cap Growth Fund | 2192977 | 173106 | (90184) | 82922 |
|  Global Sustainable Equities Fund | 6737893 | 284021 | (706535) | (422514) |
|  Total Return Bond Fund | 38106297 | 164280 | (3247525) | (3083245) |
|  High Income Opportunities Fund | 42378544 | 227462 | (4329812) | (4102350) |
|  Short-Term Bond Fund | 388307795 | 1071462 | (12892339) | (11820877) |

---

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

**Note 3 – Short Sales** 

Securities sold short represent obligations to deliver the securities at a future date. A Fund may sell a security it does not own in anticipation of a decline in the value of that security before the delivery date. When the Fund sells a security short, it must borrow the security sold short and deliver it to the broker-dealer through which it made the short sale. Dividends paid on securities sold short are disclosed as an expense on the Statements of Operations. A gain, limited to the price at which the Fund sold the security short, or a loss, unlimited in size, will be realized upon the termination of a short sale.

To secure its obligation to deliver to the broker-dealer the securities sold short, the Fund must segregate an amount of cash or liquid securities with its custodian equal to any excess of the current market value of the securities sold short over any cash or liquid securities deposited as collateral with the broker in connection with the short sale (not including the proceeds of the short sale). As a result of that requirement, the Fund will not gain any leverage merely by selling short, except to the extent that it earns interest or other income or gains on the segregated cash or liquid securities while also being subject to the possibility of gain or loss from the securities sold short.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Calamos Investment Trust/IL

- **b. Investment Company Act file number:** 811-05443

- **c. CIK number of Registrant:** 0000826732

- **d. LEI of Registrant:** 3MM2UW658H6KOU4WEW86

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2020 Calamos Court

  - **City:** Naperville

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60563

  - **Telephone number:** 6302457200

**Item A.2. Information about the Series.**

- **a. Name of Series:** Calamos Evolving World Growth Fund

- **b. EDGAR series identifier (if any):** S000022429

- **c. LEI of Series:** 549300HZUFOJ3VEK0168

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $440105331.55

**Total Liabilities:** $3787973.94

**Net Assets:** $436317357.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000064541 | 12.13%               | -3.08%               | 9.32%                |
| Class ID C000064543 | 12.06%               | -3.14%               | 9.25%                |
| Class ID C000064544 | 12.13%               | -3.03%               | 9.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-5588234.95             | $45034220.16                               |
| Month 2  | $-2835790.22             | $-8868771.71                               |
| Month 3  | $-1061254.50             | $32243996.94                               |

### Schedule of Portfolio Investments

| Name                                          | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CEMEX SAB DE CV                               | CEMEX SAB SPONS ADR PART CER ADR                      | CUSIP: 151290889<br>LEI: 549300RIG2CXWN6IV731 | Long             | EC               | CORP              | MX        |    852000 | NS      | $4549680.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: —       |
| CHEVRON CORP                                  | CHEVRON CORP COMMON STOCK USD.75                      | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     24700 | NS      | $4298294.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| COUPANG INC                                   | COUPANG INC COMMON STOCK USD.0001                     | CUSIP: 22266T109<br>LEI: 549300XR4L1D80AK4W76 | Long             | EC               | CORP              | US        |    198400 | NS      | $3350976.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| GRUPO FINANCIERO BANORTE SAB DE CV            | GRUPO FINANCIERO BANORTE O COMMON STOCK MXN3.5        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    533200 | NS      | $4417259.23   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FREEPORT-MCMORAN INC                          | FREEPORT MCMORAN INC COMMON STOCK USD.1               | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    100000 | NS      | $4462000.00   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ICICI BANK LTD                                | ICICI BANK LTD SPON ADR ADR                           | CUSIP: 45104G104<br>LEI: R7RX8ER1V4666J8D1I38 | Long             | EC               | CORP              | IN        |    221025 | NS      | $4603950.75   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ITAU UNIBANCO HOLDING SA                      | ITAU UNIBANCO H SPON PRF ADR ADR                      | CUSIP: 465562106<br>LEI: 5493002W2IVG62O3ZJ94 | Long             | EC               | CORP              | BR        |    819370 | NS      | $4080462.60   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| LI AUTO INC                                   | LI AUTO INC SR UNSECURED 05/28 0.25                   | CUSIP: N/A<br>LEI: 2549003R73Q70J5H4I65       | Long             | DBT              | CORP              | KY        |   1960000 | PA      | $2231244.40   | 0.51%             | 2028-05-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                              | MERCADOLIBRE INC COMMON STOCK USD.001                 | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      7980 | NS      | $9429886.20   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AYALA LAND INC                                | AYALA LAND INC COMMON STOCK PHP1.0                    | CUSIP: N/A<br>LEI: 254900EWT10TQ6DKTV34       | Long             | EC               | CORP              | PH        |   5683400 | NS      | $3065409.40   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF THE PHILIPPINE ISLANDS                | BANK OF THE PHILIPPINE ISLAN COMMON STOCK PHP10.      | CUSIP: N/A<br>LEI: 549300UW4UH6XT2X8C50       | Long             | EC               | CORP              | PH        |   2063500 | NS      | $3973279.97   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| VENUSTECH GROUP INC                           | VENUSTECH GROUP INC A COMMON STOCK CNY1.0             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    812229 | NS      | $3595311.93   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| ZIJIN MINING GROUP CO LTD                     | ZIJIN MINING GROUP CO LTD H COMMON STOCK CNY.1        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |   2110000 | NS      | $3490047.07   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD                    | SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.0      | CUSIP: N/A<br>LEI: 9884007ER46L6N7EI764       | Long             | EC               | CORP              | KR        |    281800 | NS      | $14036522.51  | 3.22%             |  |  |  | No            |                  2 | On Loan: No      |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD     | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.      | CUSIP: N/A<br>LEI: 549300KB6NK5SBD14S87       | Long             | EC               | CORP              | TW        |   2053649 | NS      | $36240295.28  | 8.31%             |  |  |  | No            |                  2 | On Loan: No      |
| UNIVERSAL ROBINA CORP                         | UNIVERSAL ROBINA CORP COMMON STOCK PHP1.              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PH        |    390000 | NS      | $985213.76    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| BYD CO LTD                                    | BYD CO LTD  A COMMON STOCK CNY1.0                     | CUSIP: N/A<br>LEI: 5299005557VL7ULJ7A69       | Long             | EC               | CORP              | CN        |     74940 | NS      | $3201046.39   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| YIHAI INTERNATIONAL HOLDING LTD               | YIHAI INTERNATIONAL HOLDING COMMON STOCK USD.00001    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    869000 | NS      | $3092301.34   | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| HINDUSTAN AERONAUTICS LTD                     | HINDUSTAN AERONAUTICS LTD COMMON STOCK INR10.0        | CUSIP: N/A<br>LEI: 335800AKDC7T933T3I86       | Long             | EC               | CORP              | IN        |    150500 | NS      | $4725874.78   | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| KPIT TECHNOLOGIES LTD                         | KPIT TECHNOLOGIES LTD COMMON STOCK INR10.0            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |    107000 | NS      | $997889.50    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                     | ALIBABA GROUP HOLDING LTD COMMON STOCK USD.000003125  | CUSIP: N/A<br>LEI: 5493001NTNQJDH60PM02       | Long             | EC               | CORP              | KY        |    678400 | NS      | $9327090.48   | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| PROYA COSMETICS CO LTD                        | PROYA COSMETICS CO LTD A COMMON STOCK CNY1.0          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    133700 | NS      | $3271903.76   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC | NEW ORIENTAL EDUCATION + TEC COMMON STOCK USD.001     | CUSIP: N/A<br>LEI: 529900NHZVBZQZ8EKN29       | Long             | EC               | CORP              | KY        |    700600 | NS      | $2973919.79   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| WUXI BIOLOGICS CAYMAN INC                     | WUXI BIOLOGICS CAYMAN INC COMMON STOCK USD.00001      | CUSIP: N/A<br>LEI: 5493001TD2TH6VDTJU11       | Long             | EC               | CORP              | KY        |    664500 | NS      | $5548841.14   | 1.27%             |  |  |  | Yes           |                  2 | On Loan: No      |
| NINGBO ORIENT WIRES & CABLES CO LTD           | NINGBO ORIENT WIRES + CABL A COMMON STOCK CNY1.0      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    340328 | NS      | $3246445.60   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| JIUMAOJIU INTERNATIONAL HOLDINGS LTD          | JIUMAOJIU INTERNATIONAL HOLD COMMON STOCK USD.0000001 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    870000 | NS      | $2229096.85   | 0.51%             |  |  |  | Yes           |                  2 | On Loan: No      |
| ZTO EXPRESS KY INC                            | ZTO EXPRESS KY INC SR UNSECURED 144A 09/27 1.5        | CUSIP: N/A<br>LEI: 549300SCJPK3YZJTJR78       | Long             | DBT              | CORP              | KY        |   3815000 | PA      | $4248727.35   | 0.97%             | 2027-09-01      | Fixed         | 1.50%                 | Yes           |                  2 | On Loan: No      |
| SUMBER ALFARIA TRIJAYA TBK PT                 | SUMBER ALFARIA TRIJAYA TBK P COMMON STOCK IDR10.      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | ID        |  22219000 | NS      | $4200108.56   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| SILERGY CORP                                  | SILERGY CORP COMMON STOCK TWD2.5                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |     57000 | NS      | $1159918.63   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| AIRPORTS OF THAILAND PCL                      | AIRPORTS OF THAILAND PCL FOR FOREIGN SH. THB1.0 A     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |   2023400 | NS      | $4551270.83   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BHARAT ELECTRONICS LTD                        | BHARAT ELECTRONICS LTD COMMON STOCK INR1.0            | CUSIP: N/A<br>LEI: 335800HS8AOTM9W1F335       | Long             | EC               | CORP              | IN        |   3102000 | NS      | $3622607.33   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| MEITUAN                                       | MEITUAN CLASS B COMMON STOCK USD.00001                | CUSIP: N/A<br>LEI: 21380033K525E5JLIA77       | Long             | EC               | CORP              | KY        |    214130 | NS      | $4787063.84   | 1.10%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BRITANNIA INDUSTRIES LTD                      | BRITANNIA INDUSTRIES LTD COMMON STOCK INR1.0          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |     56000 | NS      | $2964696.80   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| SINGAPORE AIRLINES LTD                        | SINGAPORE AIRLINES LTD SR UNSECURED REGS 12/25 1.625  | CUSIP: N/A<br>LEI: 549300ZG62N2599PWR15       | Long             | DBT              | CORP              | SG        |   5750000 | PA      | $4891263.89   | 1.12%             | 2025-12-03      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| ELM CO                                        | ELM CO COMMON STOCK SAR10.0                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |     20300 | NS      | $1935307.39   | 0.44%             |  |  |  | No            |                  2 | On Loan: No      |
| PINDUODUO INC                                 | PINDUODUO INC MAR23 80 CALL                           | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       485 | NC      | $976062.50    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU INC                                     | BAIDU INC MAR23 135 CALL                              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       355 | NC      | $344350.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                     | ALIBABA GROUP HOLDING LTD JUN23 100 CALL              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       375 | NC      | $705937.50    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| VALE SA                                       | VALE SA JUN23 17 CALL                                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      2412 | NC      | $599382.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI SOUTH KOREA ETF                  | ISHARES MSCI SOUTH KOREA ETF APR23 64 CALL            | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      5175 | NC      | $1436062.50   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| ISHARES MSCI TAIWAN ETF                       | ISHARES MSCI TAIWAN ETF JUN23 44.81 CALL              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      4930 | NC      | $1368075.00   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| BUMRUNGRAD HOSPITAL PCL                       | BUMRUNGRAD HOSPITAL FOREIGN FOREIGN SH. THB1.0 A      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | TH        |    481500 | NS      | $3165268.10   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| LARSEN & TOUBRO LTD                           | LARSEN + TOUBRO LTD COMMON STOCK INR2.                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |     77100 | NS      | $2003838.55   | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| TECHTRONIC INDUSTRIES CO LTD                  | TECHTRONIC INDUSTRIES CO LTD COMMON STOCK             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    238500 | NS      | $3074690.15   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK CENTRAL ASIA TBK PT                      | BANK CENTRAL ASIA TBK PT COMMON STOCK IDR12.5         | CUSIP: N/A<br>LEI: 254900BR956G2OHVOM21       | Long             | EC               | CORP              | ID        |   8830500 | NS      | $5011387.82   | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| PING AN INSURANCE GROUP CO OF CHINA LTD       | PING AN INSURANCE GROUP CO H COMMON STOCK CNY1.0      | CUSIP: N/A<br>LEI: 529900M9MC28JLN35U89       | Long             | EC               | CORP              | CN        |    923000 | NS      | $7169588.77   | 1.64%             |  |  |  | No            |                  2 | On Loan: No      |
| LI NING CO LTD                                | LI NING CO LTD COMMON STOCK HKD.1                     | CUSIP: N/A<br>LEI: 529900T77L2FV3FZ3U81       | Long             | EC               | CORP              | KY        |    879100 | NS      | $8690487.42   | 1.99%             |  |  |  | No            |                  2 | On Loan: No      |
| ASELSAN ELEKTRONIK SANAYI VE TICARET AS       | ASELSAN ELEKTRONIK SANAYI COMMON STOCK TRY1.          | CUSIP: N/A<br>LEI: 7890008XT4M710MU8714       | Long             | EC               | CORP              | TR        |    345000 | NS      | $1043881.25   | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| HANA FINANCIAL GROUP INC                      | HANA FINANCIAL GROUP COMMON STOCK KRW5000.            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |    219900 | NS      | $8736014.19   | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GRUPO AEROPORTUARIO DEL PACIFICO SAB DE CV    | GRUPO AEROPORT DEL PACIFIC B COMMON STOCK             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    183000 | NS      | $3151928.52   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTVS SA                                      | TOTVS SA COMMON STOCK                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    558500 | NS      | $3308333.83   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AL RAJHI BANK                                 | AL RAJHI BANK COMMON STOCK SAR10.                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SA        |    117000 | NS      | $2568295.65   | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| PTT EXPLORATION & PRODUCTION PCL              | PTT EXPLORATION + PROD FOR FOREIGN SH. THB1.0 A       | CUSIP: N/A<br>LEI: 2549001O8YYGP5N7Q076       | Long             | EC               | CORP              | TH        |    793400 | NS      | $4116874.13   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS LTD                                   | SIEMENS LTD COMMON STOCK INR2.                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |     78100 | NS      | $2820116.14   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| DLF LTD                                       | DLF LTD COMMON STOCK INR2.0                           | CUSIP: N/A<br>LEI: 335800PJLUEOB8914F48       | Long             | EC               | CORP              | IN        |    618200 | NS      | $2701175.60   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| HYPERA SA                                     | HYPERA SA COMMON STOCK                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    743600 | NS      | $6796887.50   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSONITE INTERNATIONAL SA                    | SAMSONITE INTERNATIONAL SA COMMON STOCK USD.01        | CUSIP: N/A<br>LEI: 549300UULS5HYFJSEL12       | Long             | EC               | CORP              | LU        |   3161100 | NS      | $9416870.20   | 2.16%             |  |  |  | Yes           |                  2 | On Loan: No      |
| AIA GROUP LTD                                 | AIA GROUP LTD COMMON STOCK                            | CUSIP: N/A<br>LEI: ZP5ILWVSYE4LJGMMVD57       | Long             | EC               | CORP              | HK        |    670800 | NS      | $7585167.96   | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                               | SANDS CHINA LTD COMMON STOCK USD.01                   | CUSIP: N/A<br>LEI: 549300EVO6UZDGY05787       | Long             | EC               | CORP              | KY        |   1854800 | NS      | $6955658.13   | 1.59%             |  |  |  | No            |                  2 | On Loan: No      |
| RAIA DROGASIL SA                              | RAIA DROGASIL SA COMMON STOCK                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |    636000 | NS      | $3110903.61   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOOMBERRY RESORTS CORP                       | BLOOMBERRY RESORTS CORP COMMON STOCK PHP1.            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PH        |  20984900 | NS      | $3550129.17   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| VARUN BEVERAGES LTD                           | VARUN BEVERAGES LTD COMMON STOCK INR10.0              | CUSIP: N/A<br>LEI: 33580058NWEMWBDNMD48       | Long             | EC               | CORP              | IN        |    283816 | NS      | $3998891.99   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - BRASIL BOLSA BALCAO                   | B3 SA BRASIL BOLSA BALCAO COMMON STOCK                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | BR        |   1193000 | NS      | $3045777.44   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| CONTEMPORARY AMPEREX TECHNOLOGY CO LTD        | CONTEMPORARY AMPEREX TECHN A COMMON STOCK CNY1.0      | CUSIP: N/A<br>LEI: 300300KINDY1K0E9I032       | Long             | EC               | CORP              | CN        |     40200 | NS      | $2788495.98   | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS NV                                     | PROSUS NV COMMON STOCK EUR.05                         | CUSIP: N/A<br>LEI: 635400Z5LQ5F9OLVT688       | Long             | EC               | CORP              | NL        |     74050 | NS      | $5979184.17   | 1.37%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC BANK LTD                                 | HDFC BANK LIMITED COMMON STOCK INR1.0                 | CUSIP: N/A<br>LEI: 335800ZQ6I4E2JXENC50       | Long             | EC               | CORP              | IN        |    325400 | NS      | $6412610.76   | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| JD.COM INC                                    | JD.COM INC   CL A COMMON STOCK USD.00002              | CUSIP: N/A<br>LEI: 549300HVTWB0GJZ16V92       | Long             | EC               | CORP              | KY        |    335221 | NS      | $9953835.15   | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| TENCENT HOLDINGS LTD                          | TENCENT HOLDINGS LTD COMMON STOCK HKD.00002           | CUSIP: N/A<br>LEI: 254900N4SLUMW4XUYY11       | Long             | EC               | CORP              | KY        |    375300 | NS      | $18287959.80  | 4.19%             |  |  |  | No            |                  2 | On Loan: No      |
| KWEICHOW MOUTAI CO LTD                        | KWEICHOW MOUTAI CO LTD A COMMON STOCK CNY1.0          | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |     17700 | NS      | $4852807.47   | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA TOURISM GROUP DUTY FREE CORP LTD        | CHINA TOURISM GROUP DUTY F A COMMON STOCK CNY1.0      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    146601 | NS      | $4641929.16   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| SHANGHAI INTERNATIONAL AIRPORT CO LTD         | SHANGHAI INTERNATIONAL AIR A COMMON STOCK CNY1.0      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |    339705 | NS      | $3051830.15   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| WAL-MART DE MEXICO SAB DE CV                  | WALMART DE MEXICO SAB DE CV COMMON STOCK              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | MX        |    928500 | NS      | $3626625.69   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| YTO EXPRESS GROUP CO LTD                      | YTO EXPRESS GROUP CO LTD A COMMON STOCK CNY1.0        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |   1291909 | NS      | $4022324.29   | 0.92%             |  |  |  | No            |                  2 | On Loan: No      |
| ARCOS DORADOS HOLDINGS INC                    | ARCOS DORADOS HOLDINGS INC A COMMON STOCK             | CUSIP: N/A<br>LEI: 54930023P2MIZN13DQ85       | Long             | EC               | CORP              | VG        |    502371 | NS      | $4270153.50   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHLUMBERGER LTD                              | SCHLUMBERGER LTD FEB23 47.5 CALL                      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       740 | NC      | $706700.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| NETEASE INC                                   | NETEASE INC JUN23 75 CALL                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       480 | NC      | $852000.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM CHINA HOLDINGS INC                        | YUM CHINA HOLDINGS INC COMMON STOCK USD.01            | CUSIP: 98850P109<br>LEI: 529900DO9BYZ7VA3K502 | Long             | EC               | CORP              | US        |     74000 | NS      | $4483509.19   | 1.03%             |  |  |  | No            |                  2 | On Loan: No      |
| MOTOR OIL HELLAS CORINTH REFINERIES SA        | MOTOR OIL (HELLAS) SA COMMON STOCK EUR.75             | CUSIP: N/A<br>LEI: 213800U3Y9UL7Y4QVM11       | Long             | EC               | CORP              | GR        |    240700 | NS      | $5882175.79   | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| RELIANCE INDUSTRIES LTD                       | RELIANCE INDUSTRIES LTD COMMON STOCK INR10.           | CUSIP: N/A<br>LEI: 5493003UOETFYRONLG31       | Long             | EC               | CORP              | IN        |    265960 | NS      | $7681376.89   | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| MAHINDRA & MAHINDRA LTD                       | MAHINDRA + MAHINDRA LTD COMMON STOCK INR5.            | CUSIP: N/A<br>LEI: 3358003B573EV4KB4Z02       | Long             | EC               | CORP              | IN        |    250400 | NS      | $4227281.06   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| HOUSING DEVELOPMENT FINANCE CORP LTD          | HOUSING DEVELOPMENT FINANCE COMMON STOCK INR2.        | CUSIP: N/A<br>LEI: 335800OX2H9AP7NHLT64       | Long             | EC               | CORP              | IN        |    115400 | NS      | $3723360.35   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| CHINA OVERSEAS LAND & INVESTMENT LTD          | CHINA OVERSEAS LAND + INVEST COMMON STOCK             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |   1133500 | NS      | $3060756.03   | 0.70%             |  |  |  | No            |                  2 | On Loan: No      |
| HINDUSTAN UNILEVER LTD                        | HINDUSTAN UNILEVER LTD COMMON STOCK INR1.0            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | IN        |     59900 | NS      | $1889793.71   | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| TRAVELSKY TECHNOLOGY LTD                      | TRAVELSKY TECHNOLOGY LTD H COMMON STOCK CNY1.0        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | CN        |   2079000 | NS      | $4321312.52   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD   | KINGDEE INTERNATIONAL SFTWR COMMON STOCK HKD.025      | CUSIP: N/A<br>LEI: 529900SWRZN94C5SZO63       | Long             | EC               | CORP              | KY        |   1940000 | NS      | $4234070.07   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| MEDIATEK INC                                  | MEDIATEK INC COMMON STOCK TWD10.                      | CUSIP: N/A<br>LEI: 254900UEGBK1I4DM4E14       | Long             | EC               | CORP              | TW        |    146000 | NS      | $3527499.73   | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| SK HYNIX INC                                  | SK HYNIX INC COMMON STOCK KRW5000.                    | CUSIP: N/A<br>LEI: 988400XAIK6XISWQV045       | Long             | EC               | CORP              | KR        |     40700 | NS      | $2944393.82   | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| INTERNATIONAL CONTAINER TERMINAL SERVICES INC | INTL CONTAINER TERM SVCS INC COMMON STOCK PHP1.       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | PH        |    266500 | NS      | $1013110.20   | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| GALAXY ENTERTAINMENT GROUP LTD                | GALAXY ENTERTAINMENT GROUP L COMMON STOCK             | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |    424000 | NS      | $2951590.20   | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRSTRAND LTD                                 | FIRSTRAND LTD COMMON STOCK ZAR.01                     | CUSIP: N/A<br>LEI: 529900XYOP8CUZU7R671       | Long             | EC               | CORP              | ZA        |   1001700 | NS      | $3721914.56   | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| FIRST ABU DHABI BANK PJSC                     | FIRST ABU DHABI BANK PJSC COMMON STOCK AED1.0         | CUSIP: N/A<br>LEI: 2138002Y3WMK6RZS8H90       | Long             | EC               | CORP              | AE        |    630191 | NS      | $2337618.63   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK MANDIRI PERSERO TBK PT                   | BANK MANDIRI PERSERO TBK PT COMMON STOCK IDR250.0     | CUSIP: N/A<br>LEI: 549300RSKQN4Z5ZSGH94       | Long             | EC               | CORP              | ID        |   5466000 | NS      | $3642192.76   | 0.83%             |  |  |  | No            |                  2 | On Loan: No      |
| KASIKORNBANK PCL                              | KASIKORNBANK PCL FOREIGN FOREIGN SH. THB10.0 A        | CUSIP: N/A<br>LEI: 5493004COSQ54937AW41       | Long             | EC               | CORP              | TH        |    779700 | NS      | $3426025.23   | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                          | GLENCORE FUNDING LLC COMPANY GUAR REGS 03/25 0.0000   | CUSIP: N/A<br>LEI: 213800STG1QDNBY87K49       | Long             | DBT              | CORP              | US        |   7600000 | PA      | $8805664.00   | 2.02%             | 2025-03-27      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ANLLIAN CAPITAL LTD                           | ANLLIAN CAPITAL LTD COMPANY GUAR REGS 02/25 0.0000    | CUSIP: N/A<br>LEI: 529900WNC73E6N8L3G81       | Long             | DBT              | CORP              | VG        |   4700000 | PA      | $6486492.16   | 1.49%             | 2025-02-05      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ZHONGSHENG GROUP                              | ZHONGSHENG GROUP SR UNSECURED REGS 05/25 0.0000       | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | KY        |  26000000 | PA      | $3941141.29   | 0.90%             | 2025-05-21      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-31

**Name of Applicant:** Calamos Investment Trust/IL

**Signature:** Stephen Atkins

**Name of Signer:** Stephen Atkins

**Title:** Treasurer