# EDGAR Filing Document

**Accession Number:** 0002047442
**File Stem:** 0001410368-26-055880
**Filing Date:** 2026-5
**Character Count:** 65014
**Document Hash:** 7bd697466373554c970e426a0c91cfe6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-055880.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001410368-26-055880

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calamos Aksia Private Equity & Alternatives Fund
- **CENTRAL INDEX KEY:** 0002047442

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24034
- **FILM NUMBER:** 261037515

**BUSINESS ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563
- **BUSINESS PHONE:** 630-245-7200

**MAIL ADDRESS:**
- **STREET 1:** 2020 CALAMOS COURT
- **CITY:** NAPERVILLE
- **STATE:** IL
- **ZIP:** 60563

## Nport-Ex

<u>Calamos Aksia Private Equity and Alternatives Fund</u> <br> <u>Consolidated Schedule of Investments As of March 31, 2026 (Unaudited)</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Description of Investment** | **Investment**<br>**Strategy** | **Acquisition**<br>**Date \*** | <br>**Shares** | <br>**Cost** | <br>**Fair Value** |
| **Investments in Private Equity Investments: (92.5%)** |  |  |  |  |  |
| **Co-investments (23.2%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Europe (4.9%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSC Tiger LP <sup>(1)(2)(4)(5)(7)(8)</sup> | Buyouts | 10/31/2024 | N/A | $4357915 | $5499881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stellex Jade Co-Invest LP <sup>(1)(2)(5)(7)</sup> | Buyouts | 12/23/2025 | N/A | 6203704 | 5937829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tracer Investors Co-Invest LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 11/25/2025 | N/A | 5769136 | 5738245 |
| &nbsp;&nbsp;&nbsp;**Total Europe** |  |  |  | 16330755 | 17175955 |
| &nbsp;&nbsp;&nbsp;**North America (18.3%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CD&R Raven Co-Investor, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 10/23/2024 | N/A | 1763298 | 2149228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Einstein 2026, L.P. <sup>(1)(2)(5)(7)</sup> | Buyouts | 03/04/2026 | N/A | 7000000 | 6867717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Frazier & Deeter Advisory Holdco, LLC (Class A Units) <sup>(1)(3)(6)(7)</sup> | Growth Equity | 05/02/2025 | 4825 | 4845764 | 5224485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GM Services Parent, LLC (Common Units) <sup>(1)(3)(6)(7)</sup> | Buyouts | 12/05/2025 | 4285714 | 6030804 | 7208877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GNX HBS Holdings, LLC (Class A Units) <sup>(1)(6)(7)</sup> | Buyouts | 12/30/2025 | 7000 | 7018156 | 6408832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H.I.G. Starlite-B Co-Investment, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 03/13/2025 | N/A | 4872590 | 4740683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HP Prestige Co-Invest Blocker Aggregator, LP <sup>(1)(5)(6)(7)</sup> | Buyouts | 07/31/2025 | N/A | 5027812 | 4132570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LH Equity Investors, L.P. <sup>(1)(2)(5)(7)</sup> | Buyouts | 09/02/2025 | N/A | 5789317 | 8019974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OEP IX Brown & Root Co-Investment Partners, L.P. <sup>(1)(2)(5)(7)</sup> | Buyouts | 02/13/2026 | N/A | 7055151 | 6874876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reroof Partners SPV LLC (Class A Units) <sup>(1)(2)(7)</sup> | Buyouts | 11/22/2024 | 47387 | 4763244 | 6104908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Searchlight Capital IV LEAF Co-Invest Partners, L.P. <sup>(1)(2)(5)(7)</sup> | Buyouts | 11/22/2024 | N/A | 5023922 | 6918475 |
| &nbsp;&nbsp;&nbsp;**Total North America** |  |  |  | 59190058 | 64650625 |
| **Total Co-investments (23.2%)** |  |  |  | 75520813 | 81826580 |
| **Primary Investments (8.0%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Europe (1.1%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PSC V (B), SCSp <sup>(1)(2)(4)(5)(7)(8)</sup> | Buyouts | 12/12/2024 | N/A | 3160784 | 3797625 |
| &nbsp;&nbsp;&nbsp;**Total Europe** |  |  |  | 3160784 | 3797625 |
| &nbsp;&nbsp;&nbsp;**North America (6.9%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadwing Capital Fund I LP <sup>(2)(5)(7)(8)</sup> | Buyouts | 11/20/2024 | N/A | 5302836 | 6628659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GenNx360 Capital Partners IV, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 02/20/2026 | N/A | 3193368 | 4202424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leeds Equity Partners VIII-A, L.P. <sup>(2)(5)(7)(8)</sup> | Buyouts | 01/23/2025 | N/A | 220027 | 145602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monogram Capital Partners III PV, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 09/30/2025 | N/A | 1840148 | 1972713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OceanSound Partners Fund II (A), LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 09/27/2024 | N/A | 3688944 | 4699355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Springcoast Partners I-A, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Other | 12/22/2025 | N/A | 5204130 | 6916869 |
| &nbsp;&nbsp;&nbsp;**Total North America** |  |  |  | 19449453 | 24565622 |
| **Total Primary Investments (8.0%)** |  |  |  | 22610237 | 28363247 |

---

See accompanying Notes to Consolidated Schedule of Investments.

<u>Calamos Aksia Private Equity and Alternatives Fund</u> <br> <u>Consolidated Schedule of Investments As of March 31, 2026 (Unaudited)</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Description of Investment** | **Investment**<br>**Strategy** | **Acquisition**<br>**Date \*** | <br>**Shares** | <br>**Cost** | <br>**Fair Value** |
| **Secondary Investments (61.3%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Europe (4.9%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corsair Riva Munich Co-Investment, L.P. <sup>(1)(2)(4)(5)(7)</sup> | Buyouts | 12/20/2024 | N/A | $5310047 | $9381881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2023 Fund Aggregator (AIV V) LP <sup>(1)(2)(3)(4)(5)(7)(8)</sup> | Buyouts | 09/20/2024 | N/A | 5569313 | 7790774 |
| &nbsp;&nbsp;&nbsp;**Total Europe** |  |  |  | 10879360 | 17172655 |
| &nbsp;&nbsp;&nbsp;**North America (31.5%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Blue Wolf Capital Fund IV, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 2272434 | 3686695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brentwood Associates Private Equity VI, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 1853753 | 2491996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CF24XB SCSp <sup>(1)(2)(5)(7)</sup> | Buyouts | 09/05/2025 | N/A | 6031620 | 7558714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charlesbank Equity Fund IX, Limited Partnership <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 01/01/2026 | N/A | 3958772 | 4568682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charlesbank Fund IX Overage Program <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 01/01/2026 | N/A | 2635582 | 2905129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CIP IX Co-Investment Vehicle 2, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 03/13/2025 | N/A | 3303833 | 3435759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CutisPharma Upper Intermediate Holdings, Inc. (Series A Preferred Stock) <sup>(1)(6)(7)</sup> | Buyouts | 03/06/2026 | 465 | 465000 | 465000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dunes Point Capital Fund II-A, L.P.<sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 03/31/2026 | N/A | 1683745 | 2313278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden Acquisition Fund-C LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 10/24/2025 | N/A | 5221085 | 7514800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Graham Partners GKP Continuation Fund, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 03/26/2025 | N/A | 3215160 | 2919412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GTCR Oak Fund LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 12/08/2025 | N/A | 5907363 | 6033942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leeds Equity Partners VI, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 2229285 | 2324227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leeds Equity Partners VII-A, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 3232916 | 3460565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2024 Fund Aggregator (AIV IX) LP <sup>(1)(2)(3)(5)(7)(8)</sup> | Venture Capital | 08/28/2025 | N/A | 3120878 | 4785588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QHP Sapphire SPV, L.P <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 10/21/2025 | N/A | 5606296 | 6228113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stone Point CV, L.P. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 10/13/2025 | N/A | 2903433 | 2909401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TB Project Ledger, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 03/14/2026 | N/A | 264353 | 264353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Resolute Fund IV, L.P. <sup>(2)(3)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 4518739 | 2742224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Resolute III Continuation Fund, L.P. <sup>(2)(5)(7)(8)</sup> | Buyouts | 09/20/2024 | N/A | 5508557 | 5623712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Veritas Capital Fund VII, L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Buyouts | 03/31/2026 | N/A | 13985550 | 20077086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vistria Agua CV (FT), LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 09/30/2025 | N/A | 3388068 | 4404980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WestCap Strategic Operator Fund II Offshore, L.P. <sup>(2)(3)(5)(7)(8)</sup> | Growth Equity | 08/29/2025 | N/A | 9889109 | 14085582 |
| &nbsp;&nbsp;&nbsp;**Total North America** |  |  |  | 91195531 | 110799238 |
| &nbsp;&nbsp;&nbsp;**Global (24.9%)** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coller International Partners IX - C, SLP <sup>(1)(2)(5)(7)(8)</sup> | Other | 12/15/2025 | N/A | 3537185 | 4434358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Secondaries Special Opportunities II B S.C.S. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 09/30/2024 | N/A | 815302 | 1093909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Secondaries Special Opportunities II S.C.S. <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 09/30/2024 | N/A | 2202379 | 2774328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Atlantic Investment Partners 2017, L.P.<sup>(2)(3)(5)(7)(8)</sup> | Growth Equity | 10/01/2025 | N/A | 11229791 | 12828273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Atlantic Investment Partners 2019, L.P. <sup>(2)(3)(5)(7)(8)</sup> | Growth Equity | 04/01/2025 | N/A | 14155915 | 16195468 |

---

See accompanying Notes to Consolidated Schedule of Investments.

<u>Calamos Aksia Private Equity and Alternatives Fund</u> <br> <u>Consolidated Schedule of Investments As of March 31, 2026 (Unaudited)</u>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Description of Investment** | **Investment**<br>**Strategy** | **Acquisition**<br>**Date \*** | <br>**Shares** | <br>**Cost** | <br>**Fair Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Atlantic Investment Partners 2021, L.P.<sup>(2)(3)(5)(7)(8)</sup> | Growth Equity | 10/01/2025 | N/A | $4507011 | $5889239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mcp Opportunity Secondary Program V Feeder S.L.P. <sup>(2)(3)(4)(5)(7)(8)</sup> | Buyouts | 08/31/2025 | N/A | 15911737 | 17509420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay 2025 Fund (US) LP <sup>(1)(2)(3)(5)(7)(8)</sup> | Other | 08/29/2025 | N/A | 3518074 | 4300319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2023-B Fund US LP <sup>(1)(2)(3)(5)(7)</sup> | Buyouts | 06/14/2024 | N/A | 2112465 | 2708177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Overbay Capital Partners 2024 Fund Offshore LP <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 12/31/2024 | N/A | 4500000 | 5526272 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sima Holdings (Offshore) LP Common Equity (Class B) <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 11/01/2024 | N/A | 2495017 | 2517822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sima Holdings (Offshore) LP Preferred Equity (Class A) <sup>(1)(2)(5)(7)(8)</sup> | Buyouts | 11/01/2024 | N/A | 4796016 | 5747799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TowerBrook Investors V (OS), L.P. <sup>(2)(3)(5)(7)(8)</sup> | Buyouts | 09/30/2025 | N/A | 3526371 | 4219392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TowerBrook Structured Opportunities Fund II (OS), L.P. <sup>(1)(2)(3)(5)(7)(8)</sup> | Other | 09/30/2025 | N/A | 1727999 | 2024809 |
| &nbsp;&nbsp;&nbsp;**Total Global** |  |  |  | 75035262 | 87769585 |
| **Total Secondary Investments (61.3%)** |  |  |  | 177110153 | 215741478 |
| **Total Investments in Private Equity Investments (92.5%)** |  |  |  | 275241203 | 325931305 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Par Value** | | |
| **Short-Term Investments (4.2%)** |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bill |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.874% due 07/09/2026 <sup>(1)(9)</sup> | $10000000 | 9897026 | 9901035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.676% due 10/01/2026 <sup>(1)(9)</sup> | 5000000 | 4909669 | 4908952 |
| **Total Short-Term Investments (4.2%)** |  | 14806695 | 14809987 |
| **Total Investments (96.7%)** |  | 290047898 | 340741292 |
| Other Assets in Excess of Liabilities (3.3%) |  |  | 11640038 |
| **Net Assets (100.0%)** |  |  | $352381330 |

---

<sup>(1)</sup> Non-income producing.

<sup>(2)</sup> Investment valued using net asset value as practical expedient.

<sup>(3)</sup> All of this investment is held by a wholly-owned subsidiary (See Note 1).

<sup>(4)</sup> Foreign securities entered into in foreign currencies are converted to U.S. dollars using period end spot rates.

<sup>(5)</sup> Private Equity Investments do not issue shares or units.

<sup>(6)</sup> Level 3 securities fair valued under procedures established by the Advisor, representing 6.7% of net assets. The total value of these securities is $23,439,764.

<sup>(7)</sup> Private Equity Investments are generally issued in private placement transactions and as such are generally restricted as to resale. The date on which the Fund acquired a binding interest in the security is reflected under Acquisition Date. Total fair value of restricted investments as of March 31, 2026 was $325,931,305, or 92.5% of net assets.

<sup>(8)</sup> Investment has been committed to but has not been fully funded by the Fund.The Fund has unfunded commitments to the indicated investment as of March 31, 2026. Total unfunded commitments amount to $103,525,328 as of March 31, 2026.

<sup>(9)</sup> Discount rate at the time of purchase.

<sup>\*</sup> Acquisition Date represents the commitment date. Acquisitions prior to July 1, 2025 reflect acquisitions by the Predecessor Fund (as defined in Note 1). See Note 1 for additional information.

See accompanying Notes to Consolidated Schedule of Investments.

<u>Calamos Aksia Private Equity and Alternatives Fund</u> <br> <u>Consolidated Schedule of Investments As of March 31, 2026 (Unaudited)</u>

On March 31, 2026, the Fund had an outstanding options contracts as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Description** | **Number of**<br>**Contracts** | **Notional**<br>**Amount** | **Exercise**<br>**Price** | **Expiration**<br>**Date** |<br>**Value** |
| **Exchange-Traded Purchased Options (0.1%)** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| iShares Russell 2000 ETF | 204 | $5018400 | 246 | 09/30/2026 | $431562 |
| **Exchange-Traded Written Options (-0.1%)** |  |  |  |  |  |
| **Call Options** |  |  |  |  |  |
| iShares Russell 2000 ETF | (204) | (5344800) | 262 | 09/30/2026 | (273768) |
| **Total** |  |  |  |  | $157794 |

---

---

| | |
|:---|:---|
| <br>**SUMMARY OF INVESTMENTS BY SECURITY TYPE** | **PERCENT OF TOTAL**<br>**NET ASSETS** |
| Co-investments | 23.2% |
| Primary Investments | 8.0% |
| Secondary Investments | 61.3% |
| Short-Term Investments | 4.2% |
| **Total Investments** | 96.7% |
| Other Assets in Excess of Liabilities | 3.3% |
| **Total Net Assets** | 100.0% |

---

See accompanying Notes to Consolidated Schedule of Investments.

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

**Note 1 — Organization**

Calamos Aksia Private Equity and Alternatives Fund (the "Fund") was organized as a Delaware statutory trust on November 22, 2024. The Fund is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a non-diversified, closed-end management investment company that operates as an interval fund, and commenced operations on July 1, 2025. The Fund changed its fiscal year end to June 30, effective December 1, 2025. The Fund's investment advisor is Calamos Advisors LLC (the "Advisor" or "Calamos") and the Fund's sub-advisor is Aksia LLC (the "Sub-Advisor" or "Aksia" and together, the "Advisors"). The Advisor and the Sub-Advisor are each registered as an investment advisor with the U.S. Securities and Exchange Commission (the "SEC") under the Investment Advisers Act of 1940, as amended (the "Advisers Act").

Simultaneous with the commencement of the Fund's operations ("commencement of operations"), Calamos Aksia Private Equity LP (the "Predecessor Fund"), reorganized with and transferred substantially all of its assets into the

Fund. The Fund maintains an investment objective, strategies and investment policies, guidelines and restrictions that are, in all material respects, equivalent to those of the Predecessor Fund. The Fund and the Predecessor Fund share the same investment advisor, sub-advisor and portfolio managers. The Fund maintains materially the same accounting policies as the Predecessor Fund, and utilizes the same valuation policies and methodologies, except because the Fund generally calculates its net asset value on each business day and the Predecessor Fund calculated its net asset value less frequently, the time at which an investment's valuation is recorded may differ.

The Fund's investment objective is to achieve long-term capital appreciation. The Fund will seek to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in Private Equity Investments and Alternative Investments (each as defined below). The Fund intends to utilize a multi-layered strategy and expects to hold Liquid Investments (defined below) for the purposes of liquidity management and to meet liquidity needs for semi-annual repurchases.

"Private Equity Investments" include: (i) Private Equity Funds managed by Underlying Managers employing a variety of strategies such as Primary Investments; (ii) Secondary Investments; and (iii) Co-Investments. Private Equity Funds are commingled asset pools that typically offer their securities privately, without registering such securities under the Securities Act.

"Alternative Investments" are financial assets that do not fall into conventional investment categories like stocks, bonds and cash and include: (i) defined outcome exposures created with derivatives positions including securities associated with those derivatives positions, such as long and short options to create defined outcome exposures, and (ii) investments in publicly listed companies that pursue the business of private equity investing, including listed private equity companies, listed funds of funds, alternative asset managers, holding companies, investment trusts, closed-end funds, financial institutions and other vehicles whose primary purpose is to invest in privately held companies.

"Liquid Investments" include Alternative Investments that can be readily sold for cash without significantly changing the market value of the investment, equity securities including exchange traded funds and other registered investment companies, and short-term corporate, government and municipal obligations and other short-term instruments including money market funds and other liquid investment vehicles.

**Consolidation of Subsidiaries**

The Fund may make investments through wholly-owned subsidiaries (each a "Subsidiary" and together, the "Subsidiaries"). Such Subsidiaries will not be registered under the 1940 Act; however, the Fund will wholly own and control any Subsidiaries. The Fund's Board of Trustees has oversight responsibility for the investment activities of the Fund, including its investment in any Subsidiary, and the Fund's role as sole owner of any Subsidiary. To the extent applicable to the investment activities of a Subsidiary, the Subsidiary will follow the same compliance policies and procedures as the Fund. The Fund would "look through" any such Subsidiary to determine compliance with its investment policies. The Fund complies with Section 8 of the 1940 Act governing investment policies on an aggregate basis with any Subsidiary. The Fund also complies with Section 18 of the 1940 Act governing capital structure and leverage on an aggregate basis with each Subsidiary so that the Fund treats a Subsidiary's debt as its own for purposes of Section 18. Further, each Subsidiary complies with the provisions of Section 17 of the 1940 Act relating to affiliated transactions and custody. The Fund will not create or acquire primary control of any entity which engages in investment activities in securities or other assets, other than entities wholly-owned by the Fund.

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

Each Subsidiary was formed as a Delaware limited liability company and is a wholly owned subsidiary of the Fund. The Consolidated Schedule of Investments of the Fund includes the accounts of the Subsidiaries. A list of the subsidiaries as of March 31, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  |  | | PERCENTAGE OF |
|  | DATE OF | NET ASSETS OF | FUND'S |
| SUBSIDIARY | FORMATION | SUBSIDIARY | NET ASSETS |
| Calamos Aksia Private Equity Sub 1 LLC | 06/12/2024 | 22932313 | 6.51% |
| Calamos Aksia Private Equity Sub 2 Splitter LLC | 11/19/2024 | 126672323 | 35.95% |

---

**Note 2 — Significant Accounting Policies**

**Basis of Preparation and Use of Estimates**

The Fund is an investment company and follows the accounting and reporting guidance under Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic 946*, Financial Services — Investment Companies*. The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP").

**Valuation of Investments**

The Fund's net asset value ("NAV") per Share is determined daily by the Advisor as of the close of business on each day the New York Stock Exchange ("NYSE") is open for trading or at such other times as the Board may determine. In accordance with the procedures approved by the Board, the NAV per outstanding Share of beneficial interest is determined, on a class-specific basis, by dividing the value of total assets minus liabilities by the total number of Shares outstanding.

The Board has designated the Advisor as its Valuation Designee to perform fair valuation determinations for the Fund with respect to all Fund investments. The Board oversees the Advisor in its role as Valuation Designee and has approved a valuation policy for the Fund (the "Valuation Policy") and the Advisor's valuation procedures (the "Valuation Procedures"). The Advisor, as Valuation Designee, has formed a separate valuation committee (the "Valuation Committee") for determining the fair value of the Fund's investments. The Valuation Committee oversees the implementation of the Valuation Procedures and may consult with representatives from the Fund's outside legal counsel or other third-party consultants in their discussions and deliberations. The Valuation Committee is composed of individuals affiliated with the Advisor.

The Advisor, including through the Valuation Committee, conducts the valuation determinations, provides primary day-to-day oversight of valuation of the Fund's investments and acts in accordance with the Valuation Procedures as approved by the Board.

The Advisor values securities/instruments traded in active markets on the measurement date by multiplying the closing price of such traded securities/instruments by the quantity of Shares or amount of the instrument held. The Advisor values securities/instruments that are not actively traded but whose fair value can be determined based on other observable market data using a price determined by an approved independent pricing vendor.

For primary and secondary investments in private markets funds where the practical expedient is deemed not to represent fair value of the investment, the security value may be calculated using the income approach, market approach, cost approach, option pricing approach, recent transaction approach, liquidation approach, or any other method of valuation deemed reasonable to assess the value of the investment. These investments rely principally on unobservable inputs for the asset or liability being valued. Unobservable inputs will be used to measure fair value to the extent that observable inputs are not available or insufficient and such inputs will be based on the best information available in the circumstances, which under circumstances might include the Sub-Advisor's own data. Security prices received from the investment's originator and other creditable sources known to the Advisor/Sub-Advisor will be reviewed.

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

The Advisor may engage one or more independent valuation firms to perform procedures, including providing input about calculation models or providing assurance on the concluded fair values for individual investments held by the Fund. Such independent third-party pricing services and independent third-party valuation services may be utilized by the Advisor to verify valuation models pursuant to the Fund's valuation policy at such timing intervals as the Advisor may deem appropriate.

Primary and secondary investments in private markets funds are generally valued based on the latest NAV reported by the third-party fund manager as a practical expedient. If the NAV of an investment in a private markets fund is not available at the time the Fund is calculating its NAV, the Fund will review any cash flows since the reference date of the last NAV for a private markets fund received by the Fund from a third-party manager until the determination date are recognized by (i) adding the nominal amount of the investment related capital calls and (ii) deducting the nominal amount of investment related distributions from the net NAV as reported by the third-party fund manager. The resulting value may be further adjusted based on the yield of the investment and/or the investment's correlation with public or private indexes to capture market movement since the reference date.

Notwithstanding the above, managers of primary and secondary investments in private markets funds may adopt a variety of valuation bases and provide differing levels of information where there will generally be no liquid markets for such investments. Consequently, there are inherent difficulties in determining the fair value that cannot be eliminated. None of the Valuation Committee, the Board, the Advisor or the Sub-Advisor will be able to confirm independently the accuracy of valuations provided by these investments in private market funds (which are may be unaudited). Due to the nature of investments as well as the inherent uncertainty involved in determining the fair value of investments for which market values are not readily available, the fair value of these investments are estimates and may fluctuate from period to period. In addition, such fair values may differ materially from the values that may have been used had ready market values been available and may significantly differ from the values ultimately realized by the Fund. The managers and investment vehicles associated with the investments have neither independently verified nor approved this information, including the fair values noted herein and have made no representation that such values are definitive.

If the Advisor reasonably believes an opinion from an independent valuation firm or pricing vendor is inaccurate or unreliable, the Advisor's Valuation Committee will determine a good-faith fair valuation for the impacted investment. The Advisor's Valuation Committee, who is solely responsible for the determination of the fair value of the investments, will consider all available information at its disposal prior to making a valuation determination, including information or opinions from third-party firms.

The Advisor seeks to evaluate on a daily basis material information about the Fund's portfolio companies; however, for the reasons noted herein, the Advisor will not be able to acquire and/or evaluate properly such information on a daily basis. Due to these various factors, the Fund's fair value determinations can cause the Fund's NAV on a given day to materially understate or overstate the value of its investments. As a result, investors who purchase Shares may receive more or less Shares and investors who tender their Shares may receive more or less cash proceeds than they otherwise would receive. If the Fund's NAV is adjusted after a Shareholder has received their Shares upon purchase or received repurchase proceeds in a repurchase offer, for example as a result of the Fund's next annual audit following such purchase or repurchase, the adjustment will not, in most cases, result in an adjustment to the number of Shares received by the Shareholder in a purchase, or a Shareholder's repurchase proceeds in a repurchase offer.

The fair value of options which are listed on major security exchanges are valued at their last reported sales price as of the valuation date or based on the midpoint of the bid/ask spread at the close of business.

**Note 3 — Fair Value of Investments**

**Fair Value — Definition**

The Fund uses a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

● Level 1 — Valuations based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

● Level 2 — Valuations based on inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly.

● Level 3 — Valuations based on inputs that are both significant and unobservable to the overall fair value measurement.

Private Equity Investments are measured based upon NAV as a practical expedient to determine fair value and are not required to be categorized in the fair value hierarchy, however these amounts are shown in the table below under net asset value in order to reconcile back to the Consolidated Schedule of Investments.

The availability of observable inputs can vary from investment to investment and is affected by a wide variety of factors, including, for example, the type of investment whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the investment. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

The inputs or methodology used for valuing investments are not an indication of the risk associated with investing in those investments. The following table summarizes the Fund's investments that are measured at fair value by level within the fair value hierarchy as of March 31, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** | **As of March 31, 2026** |
|  | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** | **NET ASSET VALUE** | **TOTAL** |
| **Assets:** | | | | | |
| **Investments, at fair value** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Private Equity Investments | $- | $- | $23439764 | $302491541 | $325931305 |
| &nbsp;&nbsp;&nbsp;Short-Term Investments | - | 14809987 | - | - | 14809987 |
| Total Investments, at fair value | $**-** | $**14809987** | $**23439764** | $**302491541** | $**340741292** |
| **Other Financial Instruments** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Exchange-Traded Purchased Options | $431562 | $- | $- | $- | $431562 |
| Total Assets | $**431562** | $**14809987** | $**23439764** | $**302491541** | $**341172854** |
| **Liabilities:** |  |  |  |  |  |
| **Other Financial Instruments** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Exchange-Traded Written Options | $273768 | $- | $- | $- | $273768 |
| Total Liabilities | $**273768** | $- | $- | $- | $**273768** |

---

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

The following table presents the changes in assets and transfers in and out for investments that are classified in Level 3 of the fair value hierarchy for the period ended March 31, 2026:

---

| | |
|:---|:---|
|  | Private Equity Investments |
| Balance as of July 1, 2025 (commencement of operations) | $- |
| Transfers In |  |
| Transfers Out |  |
| Purchases | 23387536 |
| Sales/Paydowns |  |
| Realized Gains (Losses) |  |
| Accretion |  |
| Change in Unrealized Appreciation (Depreciation) | 52228 |
| **Balance as of March 31, 2026** | $23439764 |

---

The following table summarizes the valuation techniques and significant unobservable inputs used for the Fund's investments that are categorized in Level 3 of the fair value hierarchy as of March 31, 2026:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| INVESTMENTS | FAIR <br> VALUE | VALUATION TECHNIQUE | UNOBSERVABLE INPUTS | RANGE OF INPUTS | WEIGHTED AVERAGE\* | IMPACT ON VALUATION FROM AN INCREASE IN INPUT |
| &nbsp;&nbsp;GM Services Parent, LLC | $7208877 | &nbsp;&nbsp;Market Approach | &nbsp;&nbsp;Multiple<br> Volatility<br> Risk-Free Rate<br> Estimated Time to Exit (in years) | 11.61x<br> 40.00%<br> 3.82%<br> 3.8 | 17.45x<br> 35.00%<br> 3.82%<br> 3.8 | &nbsp;&nbsp;Increase<br> Decrease<br> Decrease<br> Decrease |
| &nbsp;&nbsp;GNX HBS Holdings, LLC | 6408832 | &nbsp;&nbsp;Market Approach | &nbsp;&nbsp;Multiple<br> Volatility<br> Risk-Free Rate<br> Estimated Time to Exit (in years) | 7.20x<br> 35.00%<br> 4.26%<br> 4.8 | 7.20x<br> 35.00%<br> 3.82%<br> 3.8 | &nbsp;&nbsp;Increase<br> Decrease<br> Decrease<br> Decrease |
| &nbsp;&nbsp;Frazier & Deeter Advisory Holdco, LLC | 5224485 | &nbsp;&nbsp;Market Approach | &nbsp;&nbsp;Multiple<br> Volatility<br> Risk-Free Rate<br> Estimated Time to Exit (in years) | 17.45x<br> 35.00%<br> 3.82%<br> 3.8 | 17.45x<br> 35.00%<br> 3.82%<br> 3.8 | &nbsp;&nbsp; Increase<br> Decrease<br> Decrease<br> Decrease |
| &nbsp;&nbsp;HP Prestige Co-Invest Blocker Aggregator, LP | 4132570 | &nbsp;&nbsp;Market Approach | &nbsp;&nbsp;Multiple<br> Volatility<br> Risk-Free Rate<br> Estimated Time to Exit (in years) | 19.69x<br> 55.00%<br> 3.93%<br> 4.3 | 19.69x<br> 55.00%<br> 3.93%<br> 4.3 | &nbsp;&nbsp;Increase<br> Decrease<br> Decrease<br> Decrease |
| &nbsp;&nbsp;CutisPharma Upper Intermediate Holdings, Inc. | 465000 | &nbsp;&nbsp;Market Approach | &nbsp;&nbsp;Recent Transaction Price | $465000 | 100% | &nbsp;&nbsp;Increase |
|  | $23439764 |  |  |  |  |  |

---

\*The weighted average is calculated based on the fair value at March 31, 2026 for each Investment type and technique.

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

The following descriptions of investment categories should be read in conjunction with the consolidated schedule of investments.

***Co-investment*** - An investment made in the equity of a private company generally in parallel with a primary fund.

***Primary Investment*** - A newly established fund managed by a third-party manager which raises capital commitments from investors to invest in and acquire private companies.

***Secondary Investment*** - Investments in assets acquired on the secondary market, including the acquisition of existing primary fund interests, the acquisition of interest in one or more companies from an existing primary fund, and newly established private equity funds managed by third-party managers which raise capital commitments from investors to invest in and acquire assets on the secondary market.

**Note 4 — Private Equity Investments**

The following table represents unfunded commitments and redemption restrictions of investments that are measured at NAV per share (or its equivalent) as a practical expedient as of March 31, 2026:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| SECURITY DESCRIPTION <sup>(1)</sup> | UNFUNDED<br> COMMITMENTS | REDEMPTIONS<br> FREQUENCY\* | REDEMPTION<br> NOTICE<br> PERIOD | COST | FAIR VALUE |
| Blue Wolf Capital Fund IV, L.P. | $535253 | Not permitted | N/A | $2272434 | $3686695 |
| Brentwood Associates Private Equity VI, L.P. | 515434 | Not permitted | N/A | 1853753 | 2491996 |
| Broadwing Capital Fund I LP | 4698763 | Not permitted | N/A | 5302836 | 6628659 |
| CD&R Raven Co-Investor, L.P. | 249842 | Not permitted | N/A | 1763298 | 2149228 |
| CF24XB SCSp |  | Not permitted | N/A | 6031620 | 7558714 |
| Charlesbank Equity Fund IX, Limited Partnership | 1303405 | Not permitted | N/A | 3958772 | 4568682 |
| Charlesbank Fund IX Overage Program | 1791811 | Not permitted | N/A | 2635582 | 2905129 |
| CIP IX Co-Investment Vehicle 2, L.P. | 1762594 | Not permitted | N/A | 3303833 | 3435759 |
| Citation Fund I-A LP | 10000000 | Not permitted | N/A |  |  |
| Coller International Partners IX – C, SLP | 6462815 | Not permitted | N/A | 3537185 | 4434358 |
| Corsair Riva Munich Co-Investment, L.P. |  | Not permitted | N/A | 5310047 | 9381881 |
| Crown Secondaries Special Opportunities II B S.C.S. | 168329 | Not permitted | N/A | 815302 | 1093909 |
| Crown Secondaries Special Opportunities II S.C.S. | 386349 | Not permitted | N/A | 2202379 | 2774328 |
| D1 Private Fund Offshore LP | 10000000 | Not permitted | N/A |  |  |
| Dunes Point Capital Fund II-A, L.P. | 385448 | Not permitted | N/A | 1683745 | 2313278 |
| Einstein 2026, L.P. |  | Not permitted | N/A | 7000000 | 6867717 |
| General Atlantic Investment Partners 2017, L.P. | 521986 | Not permitted | N/A | 11229791 | 12828273 |
| General Atlantic Investment Partners 2019, L.P. | 1152619 | Not permitted | N/A | 14155915 | 16195468 |
| General Atlantic Investment Partners 2021, L.P. | 1109795 | Not permitted | N/A | 4507011 | 5889239 |
| GenNx360 Capital Partners IV, L.P. | 6806632 | Not permitted | N/A | 3193368 | 4202424 |
| Golden Acquisition Fund-C LP | 808977 | Not permitted | N/A | 5221085 | 7514800 |
| Graham Partners GKP Continuation Fund, L.P. | 550004 | Not permitted | N/A | 3215160 | 2919412 |
| GTCR Oak Fund LP | 606797 | Not permitted | N/A | 5907363 | 6033942 |
| H.I.G. Starlite-B Co-Investment, L.P. | 158146 | Not permitted | N/A | 4872590 | 4740683 |
| Lapis Investors LP | 6000000 | Not permitted | N/A |  |  |
| Leeds Equity Partners VI, L.P. | 173547 | Not permitted | N/A | 2229285 | 2324227 |

---

&nbsp;&nbsp;Notes to Consolidated Schedule of Investments (Unaudited)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| SECURITY DESCRIPTION <sup>(1)</sup> | UNFUNDED<br> COMMITMENTS | REDEMPTIONS<br> FREQUENCY\* | REDEMPTION<br> NOTICE<br> PERIOD | COST | FAIR VALUE |
| Leeds Equity Partners VII-A, L.P. | 182034 | Not permitted | N/A | 3232916 | 3460565 |
| Leeds Equity Partners VIII-A, L.P. | 1504890 | Not permitted | N/A | 220027 | 145602 |
| LH Equity Investors, L.P. |  | Not permitted | N/A | 5789317 | 8019974 |
| mcp Opportunity Secondary Program V Feeder S.L.P. | 4098160 | Not permitted | N/A | 15911737 | 17509420 |
| Monogram Capital Partners III PV, L.P. | 3170800 | Not permitted | N/A | 1840148 | 1972713 |
| New Mountain WCO Continuation Feeder, L.P. | 7000000 | Not permitted | N/A |  |  |
| OceanSound Partners Fund II (A), LP | 1314826 | Not permitted | N/A | 3688944 | 4699355 |
| OEP IX Brown & Root Co-Investment Partners, L.P. |  | Not permitted | N/A | 7055151 | 6874876 |
| Overbay 2025 Fund (US) LP | 1500000 | Not permitted | N/A | 3518074 | 4300319 |
| Overbay Capital Partners 2023 Fund Aggregator (AIV V) LP | 1054624 | Not permitted | N/A | 5569313 | 7790774 |
| Overbay Capital Partners 2023-B Fund US LP |  | Not permitted | N/A | 2112465 | 2708177 |
| Overbay Capital Partners 2024 Fund Aggregator (AIV IX) LP | 1350000 | Not permitted | N/A | 3120878 | 4785588 |
| Overbay Capital Partners 2024 Fund Offshore LP | 500000 | Not permitted | N/A | 4500000 | 5526272 |
| PSC Tiger LP | 653723 | Not permitted | N/A | 4357915 | 5499881 |
| PSC V (B), SCSp | 4292968 | Not permitted | N/A | 3160784 | 3797625 |
| QHP Sapphire SPV, L.P. | 421312 | Not permitted | N/A | 5606296 | 6228113 |
| Reroof Partners SPV LLC |  | Not permitted | N/A | 4763244 | 6104908 |
| Searchlight Capital IV LEAF Co-Invest Partners, L.P. |  | Not permitted | N/A | 5023922 | 6918475 |
| Sima Holdings (Offshore) LP Common Equity (Class B) | 6135 | Not permitted | N/A | 2495017 | 2517822 |
| Sima Holdings (Offshore) LP Preferred Equity (Class A) | 1335804 | Not permitted | N/A | 4796016 | 5747799 |
| Springcoast Partners I-A, L.P. | 4795870 | Not permitted | N/A | 5204130 | 6916869 |
| Stellex Jade Co-Invest LP |  | Not permitted | N/A | 6203704 | 5937829 |
| Stone Point CV, L.P. | 3920367 | Not permitted | N/A | 2903433 | 2909401 |
| TB Project Ledger, L.P. | 4073752 | Not permitted | N/A | 264353 | 264353 |
| The Resolute Fund IV, L.P. | 125535 | Not permitted | N/A | 4518739 | 2742224 |
| The Resolute III Continuation Fund, L.P. | 442016 | Not permitted | N/A | 5508557 | 5623712 |
| The Veritas Capital Fund VII, L.P. | 393606 | Not permitted | N/A | 13985550 | 20077086 |
| TowerBrook Investors V (OS), L.P. | 261529 | Not permitted | N/A | 3526371 | 4219392 |
| TowerBrook Structured Opportunities Fund II (OS), L.P. | 441143 | Not permitted | N/A | 1727999 | 2024809 |
| Tracer Investors Co-Invest LP | 240000 | Not permitted | N/A | 5769136 | 5738245 |
| Vistria Agua CV (FT), LP | 4133692 | Not permitted | N/A | 3388068 | 4404980 |
| WestCap Strategic Operator Fund II Offshore, L.P. | 163996 | Not permitted | N/A | 9889109 | 14085582 |
| **Total** | $**103525328** |  |  | $**275241203** | $**325931305** |

---

\*Investments cannot be redeemed. The Fund will receive distributions from the investments as the underlying assets are liquidated. The timing of these distributions is not known as of the financial reporting date.

<sup>(1)</sup> Investment categories are presented on Consolidated 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 Aksia Private Equity & Alternatives Fund

- **b. Investment Company Act file number:** 811-24034

- **c. CIK number of Registrant:** 0002047442

- **d. LEI of Registrant:** 529900ORAU5LQ85SMN93

- **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 Aksia Private Equity & Alternatives Fund

- **c. LEI of Series:** 529900ORAU5LQ85SMN93

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $354540069.78

**Total Liabilities:** $2158740.17

**Net Assets:** $352381329.61

**Cash Not Reported:** $12670933.62

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 0.45%                | 0.09%                | 0.81%                |
| Class ID N/A | 0.45%                | 0.27%                | 0.81%                |
| Class ID N/A | 0.45%                | 0.09%                | 0.81%                |
| Class ID N/A | 0.45%                | 0.18%                | 0.81%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $7044.11                 | $1503899.61                                |
| Month 2  | $0.00                    | $622585.41                                 |
| Month 3  | $-5253.36                | $3862155.81                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| United States Treasury         | U.S. Treasury Bills            | CUSIP: 912797RF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  10000000 | PA      | $9901035.40   | 2.81%             | 2026-07-09      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| United States Treasury         | U.S. Treasury Bills            | CUSIP: 912797SA6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   5000000 | PA      | $4908952.30   | 1.39%             | 2026-10-01      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| LEEDS EQUITY PARTNER VIII A LP | LEEDS EQUITY PARTNER VIII A LP | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |       220 | NS      | $145601.51    | 0.04%             |  |  |  | No            | N/A                | On Loan: No      |
| OCEANSOUND PTNRS FUND II A LP  | OCEANSOUND PTNRS FUND II A LP  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3689 | NS      | $4699355.10   | 1.33%             |  |  |  | No            | N/A                | On Loan: No      |
| OVERBAY CAPITAL PARTNERS       | OVERBAY CAPITAL PARTNERS       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | XX        |      5047 | NS      | $7790773.86   | 2.21%             |  |  |  | No            | N/A                | On Loan: No      |
| OVERBAY CAPITAL PARTNERS       | OVERBAY CAPITAL PARTNERS       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2112 | NS      | $2708176.57   | 0.77%             |  |  |  | No            | N/A                | On Loan: No      |
| OVERBAY CAPITAL PARTNERS       | OVERBAY CAPITAL PARTNERS       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4500 | NS      | $5526271.84   | 1.57%             |  |  |  | No            | N/A                | On Loan: No      |
| CROWN SECONDARIES              | CROWN SECONDARIES              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |       815 | NS      | $1093908.73   | 0.31%             |  |  |  | No            | N/A                | On Loan: No      |
| PSC TIGER LP                   | PSC TIGER LP                   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | GB        |      3420 | NS      | $5499880.88   | 1.56%             |  |  |  | No            | N/A                | On Loan: No      |
| PSC V (B), SCSP                | PSC V (B), SCSP                | CUSIP: 000000000<br>LEI: 894500LKXPX7FP1XMC48 | Long             |  | PF                | XX        |      2904 | NS      | $3797625.10   | 1.08%             |  |  |  | No            | N/A                | On Loan: No      |
| SEARCHLIGHT CAPITAL IV         | SEARCHLIGHT CAPITAL IV         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5024 | NS      | $6918476.20   | 1.96%             |  |  |  | No            | N/A                | On Loan: No      |
| REROOF PARTNERS SPV LLC        | REROOF PARTNERS SPV LLC        | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4763 | NS      | $6104907.62   | 1.73%             |  |  |  | No            | N/A                | On Loan: No      |
| SIMA HOLDINGS OFFSHORE LP      | SIMA HOLDINGS OFFSHORE LP      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4796 | NS      | $5747799.39   | 1.63%             |  |  |  | No            | N/A                | On Loan: No      |
| THE RESOLUTE FUND IV LP        | THE RESOLUTE FUND IV LP        | CUSIP: 000000000<br>LEI: 549300GZFKLU1QHJ2F78 | Long             |  | PF                | US        |      4519 | NS      | $2742224.27   | 0.78%             |  |  |  | No            | N/A                | On Loan: No      |
| THE RESOLUTE III CONT FUND LP  | THE RESOLUTE III CONT FUND LP  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5509 | NS      | $5623711.54   | 1.60%             |  |  |  | No            | N/A                | On Loan: No      |
| H.I.G. STARLITE B CO INV       | H.I.G. STARLITE B CO INV       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4873 | NS      | $4740683.01   | 1.35%             |  |  |  | No            | N/A                | On Loan: No      |
| GENERAL ATLANTIC INVEST PTNRS  | GENERAL ATLANTIC INVEST PTNRS  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     14156 | NS      | $16195467.57  | 4.60%             |  |  |  | No            | N/A                | On Loan: No      |
| SIMA HOLDINGS OFFSHORE LP      | SIMA HOLDINGS OFFSHORE LP      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2495 | NS      | $2517822.39   | 0.71%             |  |  |  | No            | N/A                | On Loan: No      |
| CIP IX CO INV VEHICLE 2 LP     | CIP IX CO INV VEHICLE 2 LP     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3304 | NS      | $3435759.12   | 0.98%             |  |  |  | No            | N/A                | On Loan: No      |
| FRAZIER DEETER ADV HOLDCO LLC  | FRAZIER DEETER ADV HOLDCO LLC  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4846 | NS      | $5224485.32   | 1.48%             |  |  |  | No            | 3                  | On Loan: No      |
| GRAHAM PTNRS GKP CONT FUND LP  | GRAHAM PTNRS GKP CONT FUND LP  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3215 | NS      | $2919412.39   | 0.83%             |  |  |  | No            | N/A                | On Loan: No      |
| BLUE WOLF CAPITAL FUND IV LP   | BLUE WOLF CAPITAL FUND IV LP   | CUSIP: 000000000<br>LEI: 549300NM6OJQDRFZ3L44 | Long             |  | PF                | US        |      2272 | NS      | $3686694.90   | 1.05%             |  |  |  | No            | N/A                | On Loan: No      |
| BRENTWOOD ASSOC PE VI LP       | BRENTWOOD ASSOC PE VI LP       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      1854 | NS      | $2491995.96   | 0.71%             |  |  |  | No            | N/A                | On Loan: No      |
| BROADWING CAPITAL FUND I LP    | BROADWING CAPITAL FUND I LP    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5303 | NS      | $6628658.83   | 1.88%             |  |  |  | No            | N/A                | On Loan: No      |
| CD+R RAVEN COINVESTOR LP       | CD+R RAVEN COINVESTOR LP       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      1763 | NS      | $2149227.77   | 0.61%             |  |  |  | No            | N/A                | On Loan: No      |
| CORSAIR RIVA MUNICH COINV LP   | CORSAIR RIVA MUNICH COINV LP   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | XX        |      4910 | NS      | $9381881.34   | 2.66%             |  |  |  | No            | N/A                | On Loan: No      |
| CROWN SECONDARIES              | CROWN SECONDARIES              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2202 | NS      | $2774328.13   | 0.79%             |  |  |  | No            | N/A                | On Loan: No      |
| LEEDS EQUITY PARTNER VI LP     | LEEDS EQUITY PARTNER VI LP     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2229 | NS      | $2324226.68   | 0.66%             |  |  |  | No            | N/A                | On Loan: No      |
| LEEDS EQUITY PARTNER VII A LP  | LEEDS EQUITY PARTNER VII A LP  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3233 | NS      | $3460565.33   | 0.98%             |  |  |  | No            | N/A                | On Loan: No      |
| SPRINGCOAST PARTNERS I A LP    | SPRINGCOAST PARTNERS I A LP    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5204 | NS      | $6916868.42   | 1.96%             |  |  |  | No            | N/A                | On Loan: No      |
| QHP SAPPHIRE SPV, L.P          | QHP SAPPHIRE SPV, L.P          | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5606 | NS      | $6228112.87   | 1.77%             |  |  |  | No            | N/A                | On Loan: No      |
| TRACER INVESTORS CO INVEST LP  | TRACER INVESTORS CO INVEST LP  | CUSIP: 000000000<br>LEI: 98450071CF73J9C13802 | Long             |  | PF                | US        |      5769 | NS      | $5738245.00   | 1.63%             |  |  |  | No            | N/A                | On Loan: No      |
| GM SERVICES PARENT LLC         | GM SERVICES PARENT LLC         | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      6031 | NS      | $7208876.66   | 2.05%             |  |  |  | No            | 3                  | On Loan: No      |
| GTCR OAK FUND LP               | GTCR OAK FUND LP               | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5907 | NS      | $6033941.69   | 1.71%             |  |  |  | No            | N/A                | On Loan: No      |
| EINSTEIN 2026, L.P.            | EINSTEIN 2026, L.P.            | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      7000 | NS      | $6867716.67   | 1.95%             |  |  |  | No            | N/A                | On Loan: No      |
| CUTISPHARMA UP INT HLD, INC.   | CUTISPHARMA UP INT HLD, INC.   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |       465 | NS      | $465000.00    | 0.13%             |  |  |  | No            | 3                  | On Loan: No      |
| HP PRESTIGE CO INVEST BLOCKER  | HP PRESTIGE CO INVEST BLOCKER  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5028 | NS      | $4132569.51   | 1.17%             |  |  |  | No            | 3                  | On Loan: No      |
| STONE POINT CV LP              | STONE POINT CV LP              | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      2903 | NS      | $2909401.25   | 0.83%             |  |  |  | No            | N/A                | On Loan: No      |
| CHARLESBANK FUND IX OVERAGEPGM | CHARLESBANK FUND IX OVERAGEPGM | CUSIP: 958AGV906<br>LEI: N/A                  | Long             |  | PF                | US        |      2636 | NS      | $2905129.18   | 0.82%             |  |  |  | No            | N/A                | On Loan: No      |
| STELLEX JADE CO INVEST LP      | STELLEX JADE CO INVEST LP      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      6204 | NS      | $5937828.78   | 1.69%             |  |  |  | No            | N/A                | On Loan: No      |
| GENNX360 CAPITAL PART IV, L.P. | GENNX360 CAPITAL PART IV, L.P. | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3193 | NS      | $4202424.29   | 1.19%             |  |  |  | No            | N/A                | On Loan: No      |
| COLLER INTL PARTNERS IX C SLP  | COLLER INTL PARTNERS IX C SLP  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3537 | NS      | $4434358.23   | 1.26%             |  |  |  | No            | N/A                | On Loan: No      |
| MONOGRAM CAPITAL PART III LP   | MONOGRAM CAPITAL PART III LP   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      1840 | NS      | $1972713.42   | 0.56%             |  |  |  | No            | N/A                | On Loan: No      |
| GNX HBS HOLDINGS LLC           | GNX HBS HOLDINGS LLC           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      7018 | NS      | $6408832.34   | 1.82%             |  |  |  | No            | 3                  | On Loan: No      |
| DUNES PT CAPITAL FUND II A,L.P | DUNES PT CAPITAL FUND II A,L.P | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      1684 | NS      | $2313278.40   | 0.66%             |  |  |  | No            | N/A                | On Loan: No      |
| OEP IX BROWN ROOT CO INV,L.P   | OEP IX BROWN ROOT CO INV,L.P   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      7055 | NS      | $6874875.85   | 1.95%             |  |  |  | No            | N/A                | On Loan: No      |
| GOLDEN ACQUISITION FUND C LP   | GOLDEN ACQUISITION FUND C LP   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      5221 | NS      | $7514800.31   | 2.13%             |  |  |  | No            | N/A                | On Loan: No      |
| CHARLESBANK EQUITY FUND IX, LP | CHARLESBANK EQUITY FUND IX, LP | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3959 | NS      | $4568681.82   | 1.30%             |  |  |  | No            | N/A                | On Loan: No      |
| VERITAS CAPITAL FUND VII, L.P. | VERITAS CAPITAL FUND VII, L.P. | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     13986 | NS      | $20077084.51  | 5.70%             |  |  |  | No            | N/A                | On Loan: No      |
| OVERBAY CAP PARTNERS 2024 AGG  | OVERBAY CAP PARTNERS 2024 AGG  | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3121 | NS      | $4785588.23   | 1.36%             |  |  |  | No            | N/A                | On Loan: No      |
| OVERBAY 2025 FUND (US) LP      | OVERBAY 2025 FUND (US) LP      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3518 | NS      | $4300318.91   | 1.22%             |  |  |  | No            | N/A                | On Loan: No      |
| WESTCAP STRAT OPERATOR FUND II | WESTCAP STRAT OPERATOR FUND II | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      9889 | NS      | $14085582.08  | 4.00%             |  |  |  | No            | N/A                | On Loan: No      |
| MCP OPP SECOND PROG V FEEDER   | MCP OPP SECOND PROG V FEEDER   | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     13582 | NS      | $17509420.93  | 4.97%             |  |  |  | No            | N/A                | On Loan: No      |
| LH EQUITY INVESTORS, L.P.      | LH EQUITY INVESTORS, L.P.      | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      6014 | NS      | $8019974.75   | 2.28%             |  |  |  | No            | N/A                | On Loan: No      |
| CF24XB SCSP                    | CF24XB SCSP                    | CUSIP: 000000000<br>LEI: 2549006X6ITDBK0X3K84 | Long             |  | PF                | US        |      6032 | NS      | $7558714.09   | 2.15%             |  |  |  | No            | N/A                | On Loan: No      |
| VISTRIA AGUA CV (FT), LP       | VISTRIA AGUA CV (FT), LP       | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3388 | NS      | $4404980.49   | 1.25%             |  |  |  | No            | N/A                | On Loan: No      |
| TOWERBROOK STRUC OPP           | TOWERBROOK STRUC OPP           | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      1728 | NS      | $2024808.59   | 0.57%             |  |  |  | No            | N/A                | On Loan: No      |
| GEN ATLANTIC INV PART 2017     | GEN ATLANTIC INV PART 2017     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |     11230 | NS      | $12828273.03  | 3.64%             |  |  |  | No            | N/A                | On Loan: No      |
| GEN ATLANTIC INV PART 2021     | GEN ATLANTIC INV PART 2021     | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      4507 | NS      | $5889238.50   | 1.67%             |  |  |  | No            | N/A                | On Loan: No      |
| TOWERBROOK INVESTORS V (OS)    | TOWERBROOK INVESTORS V (OS)    | CUSIP: 000000000<br>LEI: N/A                  | Long             |  | PF                | US        |      3791 | NS      | $4483744.52   | 1.27%             |  |  |  | No            | N/A                | On Loan: No      |
| Options Clearing Corp.         | ISHARES RUSSELL 2000 ETF       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       204 | NC      | $431562.00    | 0.12%             |  |  |  | No            | 1                  | On Loan: No      |
| Options Clearing Corp.         | ISHARES RUSSELL 2000 ETF       | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -204 | NC      | $-273768.00   | -0.08%            |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2026-05-13

**Name of Applicant:** Calamos Aksia Private Equity & Alternatives Fund

**Signature:** Stephen Atkins

**Name of Signer:** Stephen Atkins

**Title:** Treasurer