# EDGAR Filing Document

**Accession Number:** 0001079575
**File Stem:** 0001410368-25-027411
**Filing Date:** 2025-11
**Character Count:** 83295
**Document Hash:** 7864997edfa86c1d43e35a8c7eaf8c58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-027411.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001410368-25-027411

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CALAMOS ADVISORS TRUST/IL
- **CENTRAL INDEX KEY:** 0001079575

**ORGANIZATION NAME:**
- **EIN:** 367271106
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09237
- **FILM NUMBER:** 251502140

**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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALAMOS INSURANCE TRUST
- **DATE OF NAME CHANGE:** 19990212

## Series and Classes Contracts Data

### Calamos Growth & Income Portfolio (Series ID: S000006427)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000017621 | Calamos Growth & Income Portfolio |  |

## Nport-Ex

**Calamos Growth and Income Portfolio**

**SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** |  | **VALUE** |
| **Convertible Bonds (19.3%)** | **Convertible Bonds (19.3%)** | **Convertible Bonds (19.3%)** |
|  | ***Communication Services (3.3%)*** |  |
| 85000 | AST SpaceMobile, Inc.\* |  |
|  | 2.375%, 10/15/32 | $88580 |
| 320000 | DoorDash, Inc.\* |  |
|  | 0.000%, 05/15/30 | 364186 |
| 90000 | Liberty Media Corp.-Liberty Formula One |  |
|  | 2.250%, 08/15/27 | 119614 |
| 75000 | Live Nation Entertainment, Inc.\*^ |  |
|  | 2.875%, 01/15/30 | 83432 |
| 85000 | Lyft, Inc.\* |  |
|  | 0.000%, 09/15/30 | 102733 |
|  | Uber Technologies, Inc. |  |
| 150000 | 0.875%, 12/01/28 | 220783 |
| 75000 | 0.000%, 05/15/28\* | 80239 |
| 85000 | Wix.com Ltd.\* |  |
|  | 0.000%, 09/15/30 | 93015 |
|  |  | 1152582 |
|  | ***Consumer Discretionary (0.6%)*** |  |
| 96000 | Etsy, Inc.\* |  |
|  | 1.000%, 06/15/30 | 105396 |
| 100000 | NCL Corp. Ltd.\* |  |
|  | 0.750%, 09/15/30 | 100666 |
|  |  | 206062 |
|  | ***Consumer Staples (1.0%)*** |  |
| 85000 | Alnylam Pharmaceuticals, Inc.\* |  |
|  | 0.000%, 09/15/28 | 84532 |
| 250000 | Oddity Finance LLC\* |  |
|  | 0.000%, 06/15/30 | 252485 |
|  |  | 337017 |
|  | ***Financials (1.4%)*** |  |
| 85000 | Cipher Mining, Inc.\* |  |
|  | 0.000%, 10/01/31 | 93460 |
| 85000 | Coinbase Global, Inc.\* |  |
|  | 0.000%, 10/01/32 | 93961 |
| 45000 | Federal Realty OP LP\* |  |
|  | 3.250%, 01/15/29 | 45786 |
| 75000 | Morgan Stanley Finance LLC |  |
|  | 1.000%, 11/23/27 | 152625 |
| 85000 | WisdomTree, Inc.\* |  |
|  | 4.625%, 08/15/30 | 91011 |
|  |  | 476843 |
|  | ***Industrials (1.5%)*** |  |
| 150000 | AeroVironment, Inc. |  |
|  | 0.000%, 07/15/30 | 186387 |
| 27000 | Axon Enterprise, Inc. |  |
|  | 0.500%, 12/15/27 | 84926 |
| 80000 | Fluor Corp. |  |
|  | 1.125%, 08/15/29 | 95064 |
| 85000 | JBT Marel Corp.\* |  |
|  | 0.375%, 09/15/30 | 82821 |
| 17000 | Mirion Technologies, Inc.\* |  |
|  | 0.000%, 10/01/31 | 18282 |
| 65000 | Tetra Tech, Inc. |  |
|  | 2.250%, 08/15/28 | 70063 |
|  |  | 537543 |
|  | ***Information Technology (7.7%)*** |  |
| 105000 | Advanced Energy Industries, Inc. |  |
|  | 2.500%, 09/15/28 | 145497 |
| 160000 | Cloudflare, Inc.\* |  |
|  | 0.000%, 06/15/30 | 181922 |
| 200000 | CyberArk Software Ltd.\* |  |
|  | 0.000%, 06/15/30 | 222382 |
| 95000 | Guidewire Software, Inc.\* |  |
|  | 1.250%, 11/01/29 | 110825 |
| 41000 | Life360, Inc.\* |  |
|  | 0.000%, 06/01/30 | 60397 |
| 255000 | Lumentum Holdings, Inc.\* |  |
|  | 0.375%, 03/15/32 | 292725 |
| 80000 | MACOM Technology Solutions Holdings, Inc.\* |  |
|  | 0.000%, 12/15/29 | 81038 |
| 80000 | Mirion Technologies, Inc.\* |  |
|  | 0.250%, 06/01/30 | 99063 |
| 210000 | MKS, Inc. |  |
|  | 1.250%, 06/01/30 | 230689 |
| 70000 | Nebius Group NV\* |  |
|  | 1.000%, 09/15/30 | 81421 |
| 80000 | Nutanix, Inc.\*^ |  |
|  | 0.500%, 12/15/29 | 90126 |
| 90000 | Parsons Corp.^ |  |
|  | 2.625%, 03/01/29 | 102752 |
| 93000 | Planet Labs PBC\* |  |
|  | 0.500%, 10/15/30 | 125603 |
| 49000 | Rubrik, Inc.\* |  |
|  | 0.000%, 06/15/30 | 49790 |
| 100000 | Seagate HDD Cayman |  |
|  | 3.500%, 06/01/28 | 286670 |
| 75000 | Snowflake, Inc. |  |
|  | 0.000%, 10/01/29 | 117454 |
| 100000 | Spotify USA, Inc. |  |
|  | 0.000%, 03/15/26 | 136992 |
| 70000 | Terawulf, Inc.\* |  |
|  | 1.000%, 09/01/31 | 83713 |
| 60000 | Western Digital Corp. |  |
|  | 3.000%, 11/15/28 | 192197 |
|  |  | 2691256 |
|  | ***Materials (0.3%)*** |  |
| 80000 | Centrus Energy Corp.\* |  |
|  | 0.000%, 08/15/32 | 123870 |
|  |  | 123870 |
|  | ***Real Estate (0.5%)*** |  |
| 120000 | Welltower OP LLC\* |  |
|  | 3.125%, 07/15/29 | 176130 |
|  |  | 176130 |
|  | ***Utilities (3.0%)*** |  |
| 195000 | CMS Energy Corp. |  |
|  | 3.375%, 05/01/28 | 213767 |
| 195000 | Duke Energy Corp. |  |
|  | 4.125%, 04/15/26 | 209169 |
| 125000 | NextEra Energy Capital Holdings, Inc. |  |
|  | 3.000%, 03/01/27 | 147946 |
| 195000 | PPL Capital Funding, Inc. |  |
|  | 2.875%, 03/15/28 | 222955 |

---

 

See accompanying Notes to Schedule of Investments 

 

**Calamos Growth and Income Portfolio**

**SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** |  | **VALUE** |
| 215000 | Southern Co. |  |
|  | 4.500%, 06/15/27 | $239598 |
|  |  | 1033435 |
|  | **Total Convertible Bonds<br> (Cost $5,647,917)** | 6734738 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** |  | |
| **Common Stocks (75.0%)** | **Common Stocks (75.0%)** | **Common Stocks (75.0%)** |
|  | ***Communication Services (8.5%)*** |  |
| 5370 | Alphabet, Inc. - Class A | 1305447 |
| 1280 | Meta Platforms, Inc. - Class A | 940007 |
| 295 | Netflix, Inc.# | 353681 |
| 730 | T-Mobile U.S., Inc. | 174747 |
| 1575 | Walt Disney Co. | 180338 |
|  |  | 2954220 |
|  | ***Consumer Discretionary (9.3%)*** |  |
| 5990 | Amazon.com, Inc.# | 1315224 |
| 45 | Booking Holdings, Inc. | 242967 |
| 560 | Home Depot, Inc. | 226906 |
| 765 | Lowe's Cos., Inc. | 192252 |
| 440 | McDonald's Corp. | 133712 |
| 1105 | NIKE, Inc. - Class B | 77052 |
| 520 | Royal Caribbean Cruises Ltd.^ | 168262 |
| 1515 | Starbucks Corp. | 128169 |
| 1470 | Tesla, Inc.# | 653738 |
| 725 | TJX Cos., Inc. | 104792 |
|  |  | 3243074 |
|  | ***Consumer Staples (3.9%)*** |  |
| 2685 | Coca-Cola Co. | 178069 |
| 1320 | Colgate-Palmolive Co. | 105521 |
| 255 | Costco Wholesale Corp. | 236035 |
| 1140 | Dollar General Corp. | 117819 |
| 1220 | Philip Morris International, Inc. | 197884 |
| 1200 | Procter & Gamble Co. | 184380 |
| 3295 | Walmart, Inc. | 339583 |
|  |  | 1359291 |
|  | ***Energy (3.0%)*** |  |
| 748 | Chevron Corp. | 116157 |
| 2475 | EQT Corp. | 134714 |
| 3080 | Exxon Mobil Corp. | 347270 |
| 1520 | Marathon Petroleum Corp. | 292965 |
| 2605 | Williams Cos., Inc. | 165027 |
|  |  | 1056133 |
|  | ***Financials (10.9%)*** |  |
| 435 | American Express Co. | 144490 |
| 500 | Assurant, Inc. | 108300 |
| 5645 | Bank of America Corp. | 291226 |
| 90 | Blackrock, Inc. | 104928 |
| 505 | Capital One Financial Corp.~ | 107353 |
| 775 | Chubb Ltd. | 218744 |
| 1915 | Citigroup, Inc. | 194373 |
| 320 | Goldman Sachs Group, Inc. | 254832 |
| 1815 | JPMorgan Chase & Co. | 572505 |
| 1100 | Marsh & McLennan Cos., Inc. | 221683 |
| 755 | Mastercard, Inc. - Class A | 429452 |
| 1415 | Morgan Stanley | 224928 |
| 310 | S&P Global, Inc. | 150880 |
| 1375 | Visa, Inc. - Class A | 469397 |
| 3655 | Wells Fargo & Co. | 306362 |
|  |  | 3799453 |
|  | ***Health Care (5.9%)*** |  |
| 1850 | Abbott Laboratories | 247789 |
| 1150 | AbbVie, Inc. | 266271 |
| 1585 | Boston Scientific Corp.# | 154744 |
| 605 | Danaher Corp. | 119947 |
| 470 | Eli Lilly & Co. | 358610 |
| 1675 | Johnson & Johnson | 310578 |
| 2275 | Medtronic PLC | 216671 |
| 230 | Stryker Corp. | 85024 |
| 290 | Thermo Fisher Scientific, Inc. | 140656 |
| 490 | UnitedHealth Group, Inc. | 169197 |
|  |  | 2069487 |
|  | ***Industrials (4.9%)*** |  |
| 4195 | CSX Corp. | 148964 |
| 3000 | Delta Air Lines, Inc. | 170250 |
| 765 | Emerson Electric Co. | 100353 |
| 480 | GE Vernova, Inc. | 295152 |
| 680 | General Electric Co. | 204558 |
| 255 | Parker-Hannifin Corp. | 193328 |
| 350 | Quanta Services, Inc. | 145047 |
| 1515 | RTX Corp. | 253505 |
| 765 | Union Pacific Corp. | 180823 |
|  |  | 1691980 |
|  | ***Information Technology (25.4%)*** |  |
| 7630 | Apple, Inc. | 1942827 |
| 130 | AppLovin Corp. - Class A# | 93410 |
| 2630 | Broadcom, Inc. | 867663 |
| 1900 | Cisco Systems, Inc. | 129998 |
| 180 | Intuit, Inc. | 122924 |
| 1250 | Lam Research Corp. | 167375 |
| 775 | Micron Technology, Inc. | 129673 |
| 4170 | Microsoft Corp. | 2159851 |
| 12390 | NVIDIA Corp. | 2311726 |
| 215 | NXP Semiconductors NV | 48962 |
| 1470 | Oracle Corp. | 413423 |
| 910 | Palantir Technologies, Inc. - Class A# | 166002 |
| 295 | ServiceNow, Inc.# | 271483 |
|  |  | 8825317 |
|  | ***Materials (2.3%)*** |  |
| 3580 | Freeport-McMoRan, Inc. | 140408 |
| 545 | Linde PLC | 258875 |
| 968 | MP Materials Corp.# | 64924 |
| 675 | Sherwin-Williams Co. | 233725 |
| 375 | Vulcan Materials Co. | 115357 |
|  |  | 813289 |
|  | ***Real Estate (0.4%)*** |  |
| 680 | American Tower Corp. | 130778 |
|  |  | 130778 |
|  | ***Utilities (0.5%)*** |  |
| 805 | Vistra Corp. | 157715 |
|  |  | 157715 |
|  | **Total Common Stocks<br> (Cost $9,285, 115)** | 26100737 |
| **Convertible Preferred Stocks (3.5%)** | **Convertible Preferred Stocks (3.5%)** |  |
|  | ***Financials (1.0%)*** |  |
| 1180 | AMG Capital Trust II |  |
|  | 5.150%, 10/15/37 | 75796 |
| 1360 | Apollo Global Management, Inc. |  |
|  | 6.750%, 07/31/26 | 95581 |
| 1280 | ARES Management Corp. |  |
|  | 6.750%, 10/01/27 | 63603 |

---

**Calamos Growth and Income Portfolio**

**SCHEDULE OF INVESTMENTS SEPTEMBER 30, 2025 (UNAUDITED)**

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES** |  | **VALUE** |
| 1830 | KKR & Co., Inc. |  |
|  | 6.250%, 03/01/28 | $95801 |
|  |  | 330781 |
|  | ***Industrials (1.2%)*** |  |
| 4555 | Boeing Co. |  |
|  | 6.000%, 10/15/27 | 316891 |
| 2000 | QXO, Inc. |  |
|  | 5.500%, 05/15/28 | 109980 |
|  |  | 426871 |
|  | ***Information Technology (1.0%)*** |  |
| 3015 | Hewlett Packard Enterprise Co. |  |
|  | 7.625%, 09/01/27 | 204719 |
| 2470 | Microchip Technology, Inc. |  |
|  | 7.500%, 03/15/28 | 145804 |
|  |  | 350523 |
|  | ***Utilities (0.3%)*** |  |
| 875 | CenterPoint Energy, Inc. (Warner Media LLC, Charter Communications Time, Inc.)<sup>^#§</sup> |  |
|  | 3.369%, 09/15/29 | 36060 |
| 1405 | NextEra Energy, Inc. |  |
|  | 7.299%, 06/01/27 | 70067 |
|  |  | 106127 |
|  | **Total Convertible Preferred Stocks<br> (Cost $1,082,764)** | 1214302 |
| **Exchange-Traded Fund (0.5%)** | **Exchange-Traded Fund (0.5%)** |  |
|  | ***Other (0.5%)*** |  |
| 1195 | iShares Biotechnology ETF^<br> (Cost $166,531) | 172522 |

---

---

| | | |
|:---|:---|:---|
| **PRINCIPAL<br> AMOUNT** | | |
| **U.S. Government and Agency Security (0.8%)** | **U.S. Government and Agency Security (0.8%)** | **U.S. Government and Agency Security (0.8%)** |
|  | **Other (0.8%)** | **Other (0.8%)** |
| 285000 | U.S. Treasury Notes<br> 3.750%, 04/15/26<br> (Cost $284,348) | 284928 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/<br> NOTIONAL<br> AMOUNT** |  | |
| **Exchange-Traded Purchased Options (0.4%) <sup>#</sup>** | **Exchange-Traded Purchased Options (0.4%) <sup>#</sup>** |  |
|  | ***Other (0.4%)*** |  |
| 2600 | Invesco QQQ Trust Series 1 |  |
| 1560962 | Put, 12/31/25, Strike $590.00 | $44200 |
| 11500 | iShares MSCI EAFE ETF |  |
| 1073755 | Call, 12/19/25, Strike $91.00 | 50312 |
| 300 | Russell 2000 Index |  |
| 730945 | Call, 12/19/25, Strike $2,400.00 | 36435 |
| 300 | S&P 500® Index |  |
| 2006538 | Put, 11/21/25, Strike $6,450.00 | 19695 |
|  |  | 150642 |
|  | **Total Exchange-Traded Purchased Options<br> (Cost $158,809)** | 150642 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> SHARES/<br> PRINCIPAL<br> AMOUNT** | | |
| **Investment of Cash Collateral for Securities Loaned (0.9%)** | **Investment of Cash Collateral for Securities Loaned (0.9%)** | **Investment of Cash Collateral for Securities Loaned (0.9%)** |
| 314141 | State Street Navigator Securities Lending Government Money Market Portfolio, 4.166%†\*\*\* <br> (Cost $314,141) | 314141 |
|  | **TOTAL INVESTMENTS (100.4%)<br> (Cost $16,939,625)** | 34972010 |
| LIABILITIES, LESS OTHER ASSETS (-0.4%) | LIABILITIES, LESS OTHER ASSETS (-0.4%) | (150279) |
| **NET ASSETS (100.0%)** | **NET ASSETS (100.0%)** | $34821731 |

---

---

| | | |
|:---|:---|:---|
| **NUMBER OF<br> CONTRACTS/<br> NOTIONAL<br> AMOUNT** | | |
| **Exchange-Traded Written Option (0.0%) #** | **Exchange-Traded Written Option (0.0%) #** | **Exchange-Traded Written Option (0.0%) #** |
|  | **Other (0.0%)** | **Other (0.0%)** |
| (300) | Russell 2000 Index |  |
| (730945) | Call, 12/19/25, Strike $2,650.00<br> (Premium $7,911) | (7605) |

---

---

| | |
|:---|:---|
| **NOTES TO SCHEDULE OF INVESTMENTS** | **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 $53,145. |
| **§** | Securities exchangeable or convertible into securities of one or more entities that are different than the issuer. Each entity is identified in the parenthetical. |
| **†** | Represents investment of cash collateral received from securities on loan as of September 30, 2025. |
| **\*\*\*** | The rate disclosed is the 7 day net yield as of September 30, 2025. |
| *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.* | *Note: The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.* |

---

The following table summarizes the Portfolio's investments and derivative financial instruments categorized in the fair value hierarchy as of September 30, 2025 (see Note 2):

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **TOTAL** |
| **Assets:** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | $— | $6734738 | $— | $6734738 |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 26100737 |  |  | 26100737 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible Preferred Stocks | 1102446 | 111856 |  | 1214302 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange-Traded Fund | 172522 |  |  | 172522 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. Government and Agency Security |  | 284928 |  | 284928 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange-Traded Purchased Options | 150642 |  |  | 150642 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment of Cash Collateral For Securities Loaned |  | 314141 |  | 314141 |
| **Total** | $27526347 | $7445663 | $— | $34972010 |

---

Notes to Schedule of Investments (Unaudited)

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

**Organization.** Calamos Advisors Trust (the "Trust"), a Massachusetts business trust organized February 17, 1999, consists of a single series, *Calamos Growth and Income Portfolio* (the "Portfolio"), which commenced operations on May 19, 1999.

The Trust currently offers the Portfolio's shares to certain life insurance companies for allocation to certain separate accounts established for the purpose of funding qualified and non-qualified variable annuity contracts and variable life insurance contracts. The Portfolio seeks high long-term total return through growth and current income.

The Portfolio invests primarily in a diversified portfolio of convertible instruments (including synthetic convertible instruments), equity and fixed-income securities of U.S. companies without regard to market capitalization. In pursuing its investment objective, the Portfolio attempts to utilize these different types of securities to strike, in the investment adviser's opinion, the appropriate balance between risk and return in terms of growth and income.

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

**Portfolio Valuation.** The Trust's Board of Trustees ("Board" or "Trustees"), including a majority of the Trustees who are not "interested persons" of the Trust, have designated Calamos Advisors LLC ("Calamos Advisors", or the "Adviser") to perform fair valuation determinations related to all Portfolio investments under the oversight of the Board. As "valuation designee" Calamos Advisors has adopted procedures (as approved by the Board) to guide the determination of the net asset value ("NAV") on any day on which the Portfolio's NAVs is determined. The valuation of the Portfolio's investments is in accordance with these procedures.

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

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

Trading on European and Far Eastern exchanges and over-the-counter markets is typically completed at various times before the close of business on each day on which the New York Stock Exchange ("NYSE") is open. Each security trading on these exchanges or in over-the-counter markets may be valued utilizing a systematic fair valuation model provided by an independent pricing service approved by the Board. 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 Portfolio 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 Portfolio's NAV is not calculated.

If the valuation designee 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 valuation designee.

The Portfolio 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 Portfolio's pricing time but after the close of the primary market or exchange on which the security is listed. Those procedures may utilize valuations furnished by pricing services approved by Calamos Advisors, which may be based on market transactions for comparable securities and various relationships between securities that are generally recognized by institutional traders, a computerized matrix system, or appraisals derived from information concerning the securities or similar securities received from recognized dealers in those securities.

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

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

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

**Forward Foreign Currency Contracts.** The Portfolio 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 Portfolio on a forward foreign currency contract. The contracts are valued daily at forward foreign exchange rates.

As of September 30, 2025, the Portfolio had no outstanding forward foreign currency contracts.

**Note 2 – Fair Value Measurements**

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

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

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

&nbsp;&nbsp;&nbsp;&nbsp;· Level
 3 – Prices reflect unobservable market inputs (including the Portfolio's own judgments
 about assumptions market participants would use in determining fair value) when observable
 inputs are unavailable.

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

## 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 ADVISORS TRUST/IL

- **b. Investment Company Act file number:** 811-09237

- **c. CIK number of Registrant:** 0001079575

- **d. LEI of Registrant:** 549300VT8ABWC9Z27Y74

- **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:** 630-245-7200

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

- **a. Name of Series:** Calamos Growth & Income Portfolio

- **b. EDGAR series identifier (if any):** S000006427

- **c. LEI of Series:** 549300D61YQM3CYDK443

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $35334740.36

**Total Liabilities:** $507232.16

**Net Assets:** $34827508.20

**Cash Not Reported:** $217494.61

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000017621 | 2.14%                | 1.52%                | 4.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $15208.65                | $722587.50                                 |
| Month 2  | $459926.50               | $46044.34                                  |
| Month 3  | $575537.07               | $843561.62                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LIVE NATION ENTERTAINMEN        | Live Nation Entertainment Inc                                               | CUSIP: 538034BB4<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |     75000 | PA      | $83432.25     | 0.24%             | 2030-01-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| EQT Corp                        | EQT Corp                                                                    | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |      2475 | NS      | $134714.25    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.          | RUSSELL 2000 INDEX                                                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |        -3 | NC      | $-7605.00     | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems Inc               | Cisco Systems Inc                                                           | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |      1900 | NS      | $129998.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Assurant Inc                    | Assurant Inc                                                                | CUSIP: 04621X108<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EC               | CORP              | US        |       500 | NS      | $108300.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                      | Intuit Inc                                                                  | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       180 | NS      | $122923.80    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Biotechnology ETF       | iShares Biotechnology ETF                                                   | CUSIP: 464287556<br>LEI: 549300S7IVD88MPK0066 | Long             | EC               | RF                | US        |      1195 | NS      | $172522.15    | 0.50%             |  |  |  | No            |                  1 | On Loan: —       |
| Dollar General Corp             | Dollar General Corp                                                         | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |      1140 | NS      | $117819.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                   | Blackrock Inc                                                               | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |        90 | NS      | $104928.30    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| RUBRIK INC                      | Rubrik Inc                                                                  | CUSIP: 781154AC3<br>LEI: 254900TRGK2WTBYMYU27 | Long             | DBT              | CORP              | US        |     49000 | PA      | $49790.37     | 0.14%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC         | PPL Capital Funding Inc                                                     | CUSIP: 69352PAS2<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |    195000 | PA      | $222955.20    | 0.64%             | 2028-03-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                     | Vistra Corp                                                                 | CUSIP: 92840M102<br>LEI: 549300KP43CPCUJOOG15 | Long             | EC               | CORP              | US        |       805 | NS      | $157715.60    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS INC                         | MKS Inc                                                                     | CUSIP: 55306NAB0<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |    210000 | PA      | $230689.20    | 0.66%             | 2030-06-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| QXO INC                         | QXO Inc                                                                     | CUSIP: 82846H504<br>LEI: 549300HDXQWWCBOYXP31 | Long             | EP               | CORP              | US        |      2000 | NS      | $109980.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| HP ENTERPRISE CO                | Hewlett Packard Enterprise Co                                               | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |      3015 | NS      | $204718.50    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp              | Union Pacific Corp                                                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |       765 | NS      | $180823.05    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson               | Johnson & Johnson                                                           | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |      1675 | NS      | $310578.50    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                 | McDonald's Corp                                                             | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |       440 | NS      | $133711.60    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc          | UnitedHealth Group Inc                                                      | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       490 | NS      | $169197.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc | Philip Morris International Inc                                             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |      1220 | NS      | $197884.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| NCL CORPORATION LTD             | NCL Corp Ltd                                                                | CUSIP: 62886HBW0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    100000 | PA      | $100666.00    | 0.29%             | 2030-09-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                | Welltower OP LLC                                                            | CUSIP: 95041AAD0<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    120000 | PA      | $176130.00    | 0.51%             | 2029-07-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| GUIDEWIRE SOFTWARE INC          | Guidewire Software Inc                                                      | CUSIP: 40171VAB6<br>LEI: 549300WXSG0J8IXZCK32 | Long             | DBT              | CORP              | US        |     95000 | PA      | $110825.10    | 0.32%             | 2029-11-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co                | Wells Fargo & Co                                                            | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |      3655 | NS      | $306362.10    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Marathon Petroleum Corp         | Marathon Petroleum Corp                                                     | CUSIP: 56585A102<br>LEI: 3BNYRYQHD39K4LCKQF12 | Long             | EC               | CORP              | US        |      1520 | NS      | $292964.80    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP                 | CMS Energy Corp                                                             | CUSIP: 125896BX7<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |    195000 | PA      | $213766.80    | 0.61%             | 2028-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| WIX LTD                         | Wix.com Ltd                                                                 | CUSIP: 92940WAE9<br>LEI: 5493008P6N29Q1AG9464 | Long             | DBT              | CORP              | IL        |     85000 | PA      | $93015.50     | 0.27%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc                      | AbbVie Inc                                                                  | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      1150 | NS      | $266271.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc          | CenterPoint Energy Inc                                                      | CUSIP: 15189T206<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EP               | CORP              | US        |       875 | NS      | $36059.63     | 0.10%             |  |  |  | No            |                  2 | On Loan: —       |
| KKR & CO INC                    | KKR & Co Inc                                                                | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |      1830 | NS      | $95800.50     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| CIPHER MINING                   | Cipher Mining Inc                                                           | CUSIP: 17253JAB2<br>LEI: 254900QABG5HCQZ28A17 | Long             | DBT              | CORP              | US        |     85000 | PA      | $93460.05     | 0.27%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Thermo Fisher Scientific Inc    | Thermo Fisher Scientific Inc                                                | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |       290 | NS      | $140655.80    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp           | Costco Wholesale Corp                                                       | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       255 | NS      | $236035.65    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| PLANET LABS PBC                 | Planet Labs PBC                                                             | CUSIP: 72703XAA4<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | DBT              | CORP              | US        |     93000 | PA      | $125603.01    | 0.36%             | 2030-10-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| NIKE Inc                        | NIKE Inc                                                                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |      1105 | NS      | $77051.65     | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| JBT MAREL CORP                  | JBT Marel Corp                                                              | CUSIP: 477839AD6<br>LEI: 5493007CT6ATBZ2L6826 | Long             | DBT              | CORP              | US        |     85000 | PA      | $82820.60     | 0.24%             | 2030-09-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| State Street Global Advisors    | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    314141 | NS      | $314141.25    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Micron Technology Inc           | Micron Technology Inc                                                       | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |       775 | NS      | $129673.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The            | Williams Cos Inc/The                                                        | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      2605 | NS      | $165026.75    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                   | Citigroup Inc                                                               | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |      1915 | NS      | $194372.50    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Chubb Ltd                       | Chubb Ltd                                                                   | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |       775 | NS      | $218743.75    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.          | ISHARES MSCI EAFE ETF                                                       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       115 | NC      | $50312.50     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRION TECHNOLOGIES INC         | Mirion Technologies Inc                                                     | CUSIP: 60471AAC5<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | DBT              | CORP              | US        |     17000 | PA      | $18282.31     | 0.05%             | 2031-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LYFT INC                        | Lyft Inc                                                                    | CUSIP: 55087PAE4<br>LEI: 549300H7I5VN334XVZ52 | Long             | DBT              | CORP              | US        |     85000 | PA      | $102732.70    | 0.29%             | 2030-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Medtronic PLC                   | Medtronic PLC                                                               | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |      2275 | NS      | $216671.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Vulcan Materials Co             | Vulcan Materials Co                                                         | CUSIP: 929160109<br>LEI: 549300Q8LSNHAVWBNI21 | Long             | EC               | CORP              | US        |       375 | NS      | $115357.50    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                    | Alphabet Inc                                                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5370 | NS      | $1305447.00   | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                        | Visa Inc                                                                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1375 | NS      | $469397.50    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DOORDASH INC                    | DoorDash Inc                                                                | CUSIP: 25809KAA3<br>LEI: 549300NUQ43FGGSK5051 | Long             | DBT              | CORP              | US        |    320000 | PA      | $364185.60    | 1.05%             | 2030-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Boston Scientific Corp          | Boston Scientific Corp                                                      | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      1585 | NS      | $154743.55    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LUMENTUM HOLDINGS INC           | Lumentum Holdings Inc                                                       | CUSIP: 55024UAJ8<br>LEI: 549300JLWRRC38DWEF52 | Long             | DBT              | CORP              | US        |    255000 | PA      | $292724.70    | 0.84%             | 2032-03-15      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP            | Western Digital Corp                                                        | CUSIP: 958102AT2<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |     60000 | PA      | $192196.80    | 0.55%             | 2028-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Lam Research Corp               | Lam Research Corp                                                           | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |      1250 | NS      | $167375.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV           | NXP Semiconductors NV                                                       | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |       215 | NS      | $48961.95     | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The         | Procter & Gamble Co/The                                                     | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |      1200 | NS      | $184380.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                  | Lowe's Cos Inc                                                              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |       765 | NS      | $192252.15    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AEROVIRONMENT INC               | AeroVironment Inc                                                           | CUSIP: 008073AA6<br>LEI: 529900PGHVI29YLZ6221 | Long             | DBT              | CORP              | US        |    150000 | PA      | $186387.00    | 0.54%             | 2030-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Royal Caribbean Cruises Ltd     | Royal Caribbean Cruises Ltd                                                 | CUSIP: 000000000<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | LR        |       520 | NS      | $168261.60    | 0.48%             |  |  |  | No            |                  1 | On Loan: —       |
| Microsoft Corp                  | Microsoft Corp                                                              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      4170 | NS      | $2159851.50   | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp             | American Tower Corp                                                         | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |       680 | NS      | $130777.60    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| NEBIUS GROUP NV                 | Nebius Group NV                                                             | CUSIP: 63954QAE6<br>LEI: 549300GGZHJ5Q1B18P93 | Long             | DBT              | CORP              | NL        |     70000 | PA      | $81421.20     | 0.23%             | 2030-09-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Stryker Corp                    | Stryker Corp                                                                | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |       230 | NS      | $85024.10     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                     | NVIDIA Corp                                                                 | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |     12390 | NS      | $2311726.20   | 6.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                    | Chevron Corp                                                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       748 | NS      | $116156.92    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| CENTRUS ENERGY CORP             | Centrus Energy Corp                                                         | CUSIP: 15643UAF1<br>LEI: 549300G6VDK9G8276661 | Long             | DBT              | CORP              | US        |     80000 | PA      | $123869.60    | 0.36%             | 2032-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL          | NextEra Energy Capital Holdings Inc                                         | CUSIP: 65339KCY4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |    125000 | PA      | $147946.25    | 0.42%             | 2027-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Walt Disney Co/The              | Walt Disney Co/The                                                          | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      1575 | NS      | $180337.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                       | Linde PLC                                                                   | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       545 | NS      | $258875.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc             | Quanta Services Inc                                                         | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |       350 | NS      | $145047.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CLOUDFLARE INC                  | Cloudflare Inc                                                              | CUSIP: 18915MAE7<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |    160000 | PA      | $181921.60    | 0.52%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Marsh & McLennan Cos Inc        | Marsh & McLennan Cos Inc                                                    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      1100 | NS      | $221683.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                     | Walmart Inc                                                                 | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |      3295 | NS      | $339582.70    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The                | Coca-Cola Co/The                                                            | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |      2685 | NS      | $178069.20    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP            | Ares Management Corp                                                        | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |      1280 | NS      | $63603.20     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury          | U.S. Treasury Notes                                                         | CUSIP: 91282CGV7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    285000 | PA      | $284927.64    | 0.82%             | 2026-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT        | Apollo Global Management Inc                                                | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |      1360 | NS      | $95580.80     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                | Exxon Mobil Corp                                                            | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      3080 | NS      | $347270.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ODDITY FINANCE LLC              | Oddity Finance LLC                                                          | CUSIP: 67579RAA8<br>LEI: 254900FTSJH2TRDJ3905 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252485.00    | 0.72%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                   | Boeing Co/The                                                               | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |      4555 | NS      | $316891.35    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO                     | Southern Co/The                                                             | CUSIP: 842587DZ7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    215000 | PA      | $239598.15    | 0.69%             | 2027-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Palantir Technologies Inc       | Palantir Technologies Inc                                                   | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |       910 | NS      | $166002.20    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TJX Cos Inc/The                 | TJX Cos Inc/The                                                             | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |       725 | NS      | $104791.50    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| TERAWULF INC                    | Terawulf Inc                                                                | CUSIP: 88080TAC8<br>LEI: 254900CVMW1SX2T78A64 | Long             | DBT              | CORP              | US        |     70000 | PA      | $83713.00     | 0.24%             | 2031-09-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                     | Netflix Inc                                                                 | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |       295 | NS      | $353681.40    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                  | Mastercard Inc                                                              | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       755 | NS      | $429451.55    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.          | S+P 500 INDEX                                                               | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |         3 | NC      | $19695.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                    | Broadcom Inc                                                                | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2630 | NS      | $867663.30    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp            | Bank of America Corp                                                        | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |      5645 | NS      | $291225.55    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED ENERGY IND             | Advanced Energy Industries Inc                                              | CUSIP: 007973AE0<br>LEI: 549300756XI3QLFT2U27 | Long             | DBT              | CORP              | US        |    105000 | PA      | $145496.40    | 0.42%             | 2028-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP            | Federal Realty OP LP                                                        | CUSIP: 313747BD8<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              |  | US        |     45000 | PA      | $45786.15     | 0.13%             | 2029-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Tesla Inc                       | Tesla Inc                                                                   | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |      1470 | NS      | $653738.40    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The              | Home Depot Inc/The                                                          | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       560 | NS      | $226906.40    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC              | NextEra Energy Inc                                                          | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |      1405 | NS      | $70067.35     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| COINBASE GLOBAL INC             | Coinbase Global Inc                                                         | CUSIP: 19260QAJ6<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |     85000 | PA      | $93960.70     | 0.27%             | 2032-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Abbott Laboratories             | Abbott Laboratories                                                         | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1850 | NS      | $247789.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp               | MP Materials Corp                                                           | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |       968 | NS      | $64923.76     | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp            | Parker-Hannifin Corp                                                        | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |       255 | NS      | $193328.25    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                        | CSX Corp                                                                    | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |      4195 | NS      | $148964.45    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group Inc/The     | Goldman Sachs Group Inc/The                                                 | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |       320 | NS      | $254832.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc            | Freeport-McMoRan Inc                                                        | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |      3580 | NS      | $140407.60    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceNow Inc                  | ServiceNow Inc                                                              | CUSIP: 81762P102<br>LEI: 549300HJTQM36M0E1G39 | Long             | EC               | CORP              | US        |       295 | NS      | $271482.60    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| AMG Capital Trust II            | AMG Capital Trust II                                                        | CUSIP: 00170F209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      1180 | NS      | $75796.12     | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The         | Sherwin-Williams Co/The                                                     | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |       675 | NS      | $233725.50    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co             | General Electric Co                                                         | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |       680 | NS      | $204557.60    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc              | Meta Platforms Inc                                                          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1280 | NS      | $940006.40    | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PARSONS CORP                    | Parsons Corp                                                                | CUSIP: 70202LAD4<br>LEI: 549300ZXH0VRBSEPX752 | Long             | DBT              | CORP              | US        |     90000 | PA      | $102752.10    | 0.30%             | 2029-03-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: —       |
| Oracle Corp                     | Oracle Corp                                                                 | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | EC               | CORP              | US        |      1470 | NS      | $413422.80    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| FLUOR CORP                      | Fluor Corp                                                                  | CUSIP: 343412AJ1<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |     80000 | PA      | $95064.00     | 0.27%             | 2029-08-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| RTX Corp                        | RTX Corp                                                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      1515 | NS      | $253504.95    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| ETSY INC                        | Etsy Inc                                                                    | CUSIP: 29786AAP1<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |     96000 | PA      | $105396.48    | 0.30%             | 2030-06-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| GE Vernova Inc                  | GE Vernova Inc                                                              | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       480 | NS      | $295152.00    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| M/A-COM TECH SOLUTIONS          | MACOM Technology Solutions Holdings Inc                                     | CUSIP: 55405YAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $81038.40     | 0.23%             | 2029-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TETRA TECH INC                  | Tetra Tech Inc                                                              | CUSIP: 88162GAB9<br>LEI: 549300UJ1LP7JGJC5P32 | Long             | DBT              | CORP              | US        |     65000 | PA      | $70063.50     | 0.20%             | 2028-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| MIRION TECHNOLOGIES INC         | Mirion Technologies Inc                                                     | CUSIP: 60471AAA9<br>LEI: 549300BNTOWVWFNVTJ65 | Long             | DBT              | CORP              | US        |     80000 | PA      | $99062.40     | 0.28%             | 2030-06-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Starbucks Corp                  | Starbucks Corp                                                              | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |      1515 | NS      | $128169.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co             | Emerson Electric Co                                                         | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |       765 | NS      | $100352.70    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| WISDOMTREE INC                  | WisdomTree Inc                                                              | CUSIP: 97717PAJ3<br>LEI: 549300WIU8IS7UFO7871 | Long             | DBT              | CORP              | US        |     85000 | PA      | $91011.20     | 0.26%             | 2030-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC             | Axon Enterprise Inc                                                         | CUSIP: 05464CAB7<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     27000 | PA      | $84925.80     | 0.24%             | 2027-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                  | Morgan Stanley                                                              | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      1415 | NS      | $224928.40    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| NUTANIX INC                     | Nutanix Inc                                                                 | CUSIP: 67059NAJ7<br>LEI: 549300X7J6E8TKVIXW09 | Long             | DBT              | CORP              | US        |     80000 | PA      | $90126.40     | 0.26%             | 2029-12-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: —       |
| UBER TECHNOLOGIES INC           | Uber Technologies Inc                                                       | CUSIP: 90353TAR1<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |     75000 | PA      | $80238.75     | 0.23%             | 2028-05-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALNYLAM PHARMACEUTICALS         | Alnylam Pharmaceuticals Inc                                                 | CUSIP: 02043QAC1<br>LEI: 529900S3ZI14OWRJII50 | Long             | DBT              | CORP              | US        |     85000 | PA      | $84531.65     | 0.24%             | 2028-09-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC        | Microchip Technology Inc                                                    | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |      2470 | NS      | $145804.10    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                       | Apple Inc                                                                   | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      7630 | NS      | $1942826.90   | 5.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                    | Danaher Corp                                                                | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |       605 | NS      | $119947.30    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| CYBERARK SOFTWARE LTD           | CyberArk Software Ltd                                                       | CUSIP: 23248VAC9<br>LEI: 529900YEXNDM894PWS93 | Long             | DBT              | CORP              | IL        |    200000 | PA      | $222382.00    | 0.64%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AppLovin Corp                   | AppLovin Corp                                                               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |       130 | NS      | $93410.20     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAGATE HDD CAYMAN              | Seagate HDD Cayman                                                          | CUSIP: 81180WBL4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    100000 | PA      | $286670.00    | 0.82%             | 2028-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                | Duke Energy Corp                                                            | CUSIP: 26441CBY0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |    195000 | PA      | $209168.70    | 0.60%             | 2026-04-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| T-Mobile US Inc                 | T-Mobile US Inc                                                             | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |       730 | NS      | $174747.40    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Delta Air Lines Inc             | Delta Air Lines Inc                                                         | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |      3000 | NS      | $170250.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc            | Booking Holdings Inc                                                        | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |        45 | NS      | $242967.15    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co            | Colgate-Palmolive Co                                                        | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |      1320 | NS      | $105520.80    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                  | S&P Global Inc                                                              | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       310 | NS      | $150880.10    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY FIN LLC          | Morgan Stanley Finance LLC                                                  | CUSIP: 61774H2L1<br>LEI: 5493003FCPSE9RKT4B56 | Long             | DBT              | CORP              | US        |     75000 | PA      | $152625.00    | 0.44%             | 2027-11-23      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| SNOWFLAKE INC                   | Snowflake Inc                                                               | CUSIP: 833445AD1<br>LEI: 254900CJNSY1K7T53Z16 | Long             | DBT              | CORP              | US        |     75000 | PA      | $117453.75    | 0.34%             | 2029-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Eli Lilly & Co                  | Eli Lilly & Co                                                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       470 | NS      | $358610.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.          | INVESCO QQQ TRUST SERIES 1                                                  | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |        26 | NC      | $44200.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.          | RUSSELL 2000 INDEX                                                          | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |         3 | NC      | $36435.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SPOTIFY USA INC                 | Spotify USA Inc                                                             | CUSIP: 84921RAB6<br>LEI: 2138008WM218QBKRII94 | Long             | DBT              | CORP              | US        |    100000 | PA      | $136992.00    | 0.39%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co             | JPMorgan Chase & Co                                                         | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      1815 | NS      | $572505.45    | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                  | Amazon.com Inc                                                              | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      5990 | NS      | $1315224.30   | 3.78%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY MEDIA CORP              | Liberty Media Corp-Liberty Formula One                                      | CUSIP: 531229AQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $119613.60    | 0.34%             | 2027-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| American Express Co             | American Express Co                                                         | CUSIP: 025816109<br>LEI: R4PP93JZOLY261QX3811 | Long             | EC               | CORP              | US        |       435 | NS      | $144489.60    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| AST SPACEMOBILE INC             | AST SpaceMobile Inc                                                         | CUSIP: 00217DAC4<br>LEI: 254900MBSC9P2UCI6623 | Long             | DBT              | CORP              | US        |     85000 | PA      | $88580.20     | 0.25%             | 2032-10-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| LIFE360 INC                     | Life360 Inc                                                                 | CUSIP: 532206AB5<br>LEI: 254900VO9VDOQBQAHF07 | Long             | DBT              | CORP              | US        |     41000 | PA      | $60397.10     | 0.17%             | 2030-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Capital One Financial Corp      | Capital One Financial Corp                                                  | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |       505 | NS      | $107352.90    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| UBER TECHNOLOGIES INC           | Uber Technologies Inc                                                       | CUSIP: 90353TAM2<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    150000 | PA      | $220783.50    | 0.63%             | 2028-12-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-12

**Name of Applicant:** CALAMOS ADVISORS TRUST/IL

**Signature:** Stephen Atkins

**Name of Signer:** Stephen Atkins

**Title:** Treasurer