Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
Asset Backed Security (0.1%)
				Other (0.1)%
765,000				SVC ABS LLC Series 2023-1A, Class C*
				6.700%, 02/20/53
				(Cost $728,665)		$	736,199
Corporate Bonds (36.4%)
				Airlines (0.4)%
744,341				Alaska Airlines Pass-Through Trust Series 2020-1, Class A*µ
				4.800%, 02/15/29			742,725
182,142				Alaska Airlines Pass-Through Trust Series 2020-1, Class B*
				8.000%, 02/15/27			182,381
843,880				American Airlines Pass-Through Trust Series 2021-1, Class B
				3.950%, 01/11/32			797,357
756,155				British Airways Pass-Through Trust Series 2021-1, Class B*
				3.900%, 03/15/33			720,676
848,231				JetBlue Pass-Through Trust Series 2020-1, Class B
				7.750%, 05/15/30			852,261
							3,295,400
				Communication Services (3.3%)
1,160,000				APi Group DE, Inc.*
				4.750%, 10/15/29			1,123,448
360,000				Bell Telephone Co. of Canada or Bell Canada‡
				7.000%, 09/15/55
				5 yr. CMT + 2.36%			365,861
856,000				Cincinnati Bell Telephone Co. LLC
				6.300%, 12/01/28			839,659
				Clear Channel Outdoor Holdings, Inc.*
522,000				7.500%, 03/15/33			520,857
475,000				7.875%, 04/01/30			489,264
425,000				9.000%, 09/15/28^			445,443
1,345,000				Consolidated Communications, Inc.*
				6.500%, 10/01/28			1,367,260
				CSC Holdings LLC*
1,590,000				4.500%, 11/15/31			1,061,738
1,550,000				4.625%, 12/01/30			726,810
852,000				Directv Financing LLC/Directv Financing Co-Obligor, Inc.*
				5.875%, 08/15/27			847,587
1,475,000				Frontier California, Inc.
				6.750%, 05/15/27			1,503,394
239,000				Frontier Communications Holdings LLC*
				8.750%, 05/15/30			250,737
1,519,000				Frontier Florida LLC
				6.860%, 02/01/28			1,585,988
1,445,000				Frontier North, Inc.
				6.730%, 02/15/28			1,491,197
835,000				Go Daddy Operating Co. LLC/GD Finance Co., Inc.*
				3.500%, 03/01/29			784,700
				Gray Media, Inc.*
475,000				7.250%, 08/15/33			472,787
475,000				5.375%, 11/15/31^			351,229
955,000				Hughes Satellite Systems Corp.^
				5.250%, 08/01/26			884,196
				iHeartCommunications, Inc.*
476,000				10.875%, 05/01/30			238,562
315,950				7.750%, 08/15/30			247,623
615,000				LCPR Senior Secured Financing DAC*
				6.750%, 10/15/27			472,517
				Lumen Technologies, Inc.
720,000				7.600%, 09/15/39^			616,514
712,875				10.000%, 10/15/32*			725,336
930,000				Paramount Global
				4.900%, 08/15/44			733,156
336,000				Qwest Corp.
				7.250%, 09/15/25			336,349
				Rogers Communications, Inc.‡
830,000				7.125%, 04/15/55^
				5 yr. CMT + 2.62%			847,314
595,000				7.000%, 04/15/55
				5 yr. CMT + 2.65%			609,441
				Scripps Escrow II, Inc.*
477,000				3.875%, 01/15/29^			424,005
239,000				5.375%, 01/15/31			176,480
330,000				Scripps Escrow, Inc.*
				5.875%, 07/15/27			330,000
480,000				Sinclair Television Group, Inc.*
				8.125%, 02/15/33			491,117
				Sirius XM Radio LLC*
1,189,000				3.875%, 09/01/31^			1,049,578
770,000				5.500%, 07/01/29			761,014
475,000				3.125%, 09/01/26			464,778
473,000				Telesat Canada/Telesat LLC*
				4.875%, 06/01/27			294,589
485,000				TELUS Corp.‡
				6.625%, 10/15/55
				5 yr. CMT + 2.77%			491,470
				Time Warner Cable LLC
715,000				6.550%, 05/01/37			736,150
385,000				7.300%, 07/01/38			416,019
378,000				U.S. Cellular Corp.
				6.700%, 12/15/33			399,735
				Univision Communications, Inc.*
489,000				8.000%, 08/15/28			502,760
480,000				8.500%, 07/31/31			488,126
							26,964,788
				Consumer Discretionary (7.6%)
1,430,000				Adams Homes, Inc.*
				9.250%, 10/15/28			1,481,580
				Adient Global Holdings Ltd.*
1,255,000				8.250%, 04/15/31^			1,312,705
475,000				7.500%, 02/15/33			484,757
				Advance Auto Parts, Inc.*
422,000				7.000%, 08/01/30			424,439
237,000				7.375%, 08/01/33			238,244
1,500,000				Aptiv Swiss Holdings Ltd.‡
				6.875%, 12/15/54
				5 yr. CMT + 3.39%			1,512,960
				Ashton Woods USA LLC/Ashton Woods Finance Co.*
837,000				4.625%, 08/01/29			796,724
475,000				6.875%, 08/01/33			474,820
				Bath & Body Works, Inc.
1,264,000				6.694%, 01/15/27			1,296,788

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
720,000				6.875%, 11/01/35		$	742,003
180,000				6.625%, 10/01/30*			184,495
600,000				Beach Acquisition Bidco LLC*
				10.000%, 07/15/33			626,238
				Caesars Entertainment, Inc.*
817,000				6.000%, 10/15/32^			789,385
604,000				4.625%, 10/15/29^			571,438
180,000				7.000%, 02/15/30			185,846
				Carnival Corp.*µ
481,000				4.000%, 08/01/28			467,537
60,000				7.000%, 08/15/29			63,113
				CCO Holdings LLC/CCO Holdings Capital Corp.*
2,090,000				4.750%, 03/01/30			1,986,315
1,905,000				5.125%, 05/01/27			1,890,484
1,685,000				4.500%, 08/15/30			1,578,171
1,100,000				6.375%, 09/01/29			1,110,681
951,000				4.250%, 02/01/31			868,415
565,000				5.000%, 02/01/28			555,028
478,000				4.750%, 02/01/32^			441,801
				Churchill Downs, Inc.*
478,000				6.750%, 05/01/31			488,760
478,000				5.750%, 04/01/30			477,460
				Dana, Inc.
960,000				4.500%, 02/15/32^			937,296
790,000				4.250%, 09/01/30			777,866
				DISH DBS Corp.
470,000				5.125%, 06/01/29			344,989
356,000				7.375%, 07/01/28			273,728
946,000				DISH Network Corp.*
				11.750%, 11/15/27			986,016
1,365,000				Empire Resorts, Inc.*
				7.750%, 11/01/26			1,349,084
400,000				Flutter Treasury DAC*
				5.875%, 06/04/31			403,232
1,000,000				Ford Motor Co.^
				6.100%, 08/19/32			1,001,510
				Ford Motor Credit Co. LLC
1,525,000				4.000%, 11/13/30			1,402,131
1,245,000				7.200%, 06/10/30			1,309,379
1,150,000				5.113%, 05/03/29			1,125,033
490,000				General Motors Co.
				5.200%, 04/01/45			426,114
				goeasy Ltd.*
1,700,000				9.250%, 12/01/28			1,800,147
859,000				7.625%, 07/01/29			885,388
				Goodyear Tire & Rubber Co.
1,435,000				5.625%, 04/30/33^			1,348,010
515,000				5.250%, 07/15/31			489,817
				Group 1 Automotive, Inc.*
600,000				6.375%, 01/15/30			612,990
407,000				4.000%, 08/15/28			392,783
190,656				JetBlue Pass-Through Trust Series 2019-1, Class B
				8.000%, 05/15/29			191,552
1,322,000				Kohl's Corp.
				5.550%, 07/17/45			744,537
965,000				Liberty Interactive LLC
				8.250%, 02/01/30			133,402
950,000				Life Time, Inc.*
				6.000%, 11/15/31			957,951
480,000				Light & Wonder International, Inc.*
				7.500%, 09/01/31			500,688
360,000				Lindblad Expeditions Holdings, Inc.*
				9.000%, 05/15/28			375,520
616,000				Lindblad Expeditions LLC*
				6.750%, 02/15/27			617,984
635,000				M/I Homes, Inc.
				3.950%, 02/15/30			592,398
				Macy's Retail Holdings LLC
1,205,000				4.300%, 02/15/43			797,710
765,000				6.700%, 07/15/34*			659,774
1,860,000				MGM Resorts International^
				6.500%, 04/15/32			1,891,322
1,219,000				Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp.*
				4.875%, 05/01/29			1,175,494
				Newell Brands, Inc.
475,000				8.500%, 06/01/28*			498,760
475,000				6.625%, 05/15/32^			454,884
500,000				Nordstrom, Inc.
				5.000%, 01/15/44			339,345
				Patrick Industries, Inc.*
849,000				4.750%, 05/01/29			824,107
475,000				6.375%, 11/01/32			475,276
1,105,000				Penn Entertainment, Inc.*^
				4.125%, 07/01/29			1,024,722
1,340,000				Premier Entertainment Sub LLC/Premier Entertainment Finance Corp.*
				5.625%, 09/01/29			810,298
470,000				QVC, Inc.
				5.450%, 08/15/34			206,631
480,000				Raising Cane's Restaurants LLC*
				9.375%, 05/01/29			507,398
				Rite Aid Corp.
1,591,000				0.000%, 11/15/26*@			2
311,198				15.000%, 08/30/31@			1,556
289,250				0.000%, 10/18/25*			—
226,639				15.000%, 08/30/31@!!			1,133
104,539				0.000%, 08/30/31*@!!			7,840
98,500				0.000%, 08/30/34			—
950,000				Rivers Enterprise Borrower LLC/Rivers Enterprise Finance Corp.*
				6.625%, 02/01/33			960,155
				Royal Caribbean Cruises Ltd.*
119,000				6.250%, 03/15/32			122,134
119,000				5.625%, 09/30/31			119,932
875,000				Simmons Foods, Inc./Simmons Prepared Foods, Inc./Simmons Pet Food, Inc./Simmons Feed*
				4.625%, 03/01/29			828,949
1,445,000				Six Flags Entertainment Corp.*^
				7.250%, 05/15/31			1,472,990
750,000				Six Flags Entertainment Corp./Canada's Wonderland Co./Magnum Management Corp.^
				5.250%, 07/15/29			729,788
610,000				Sonic Automotive, Inc.*^
				4.625%, 11/15/29			587,357
698,000				Speedway Motorsports LLC/Speedway Funding II, Inc.*
				4.875%, 11/01/27			691,208
705,000				Staples, Inc.*
				10.750%, 09/01/29			661,184
1,005,000				Station Casinos LLC*
				4.500%, 02/15/28			982,789
950,000				STL Holding Co. LLC*
				8.750%, 02/15/29			988,969

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
475,000				Under Armour, Inc.*
				7.250%, 07/15/30		$	486,600
240,000				Viking Cruises Ltd.*
				9.125%, 07/15/31			258,331
475,000				Voyager Parent LLC*
				9.250%, 07/01/32			502,954
950,000				Whirlpool Corp.
				6.500%, 06/15/33			937,213
950,000				ZF North America Capital, Inc.*
				7.125%, 04/14/30			921,415
							61,957,952
				Consumer Staples (2.0%)
				Albertsons Cos., Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC*
1,600,000				4.625%, 01/15/27			1,589,376
720,000				5.875%, 02/15/28			720,634
950,000				Amneal Pharmaceuticals LLC*
				6.875%, 08/01/32			964,734
475,000				Avis Budget Car Rental LLC/Avis Budget Finance, Inc.*^
				8.375%, 06/15/32			490,181
				Brink's Co.*
475,000				6.750%, 06/15/32			489,744
470,000				6.500%, 06/15/29			481,651
1,099,000				Central Garden & Pet Co.*
				4.125%, 04/30/31			1,019,158
1,092,000				Edgewell Personal Care Co.*
				4.125%, 04/01/29			1,034,288
				Energizer Holdings, Inc.*
1,331,000				4.375%, 03/31/29			1,263,372
240,000				6.500%, 12/31/27^			243,600
269,000				JBS USA Holding Lux SARL/JBS USA Food Co./JBS Lux Co. SARL
				5.750%, 04/01/33			275,938
				MPH Acquisition Holdings LLC*
813,834				6.750%, 03/31/31
				0.75% PIK Rate			632,406
395,909				5.750%, 12/31/30			326,154
621,000				New Albertsons LP
				7.750%, 06/15/26			633,811
400,000				Opal Bidco SAS*
				6.500%, 03/31/32			404,928
				Performance Food Group, Inc.*
957,000				4.250%, 08/01/29			921,093
237,000				6.125%, 09/15/32			241,093
700,000				Pilgrim's Pride Corp.
				4.250%, 04/15/31			669,347
				Post Holdings, Inc.*
950,000				6.250%, 02/15/32			968,762
712,000				6.375%, 03/01/33			714,001
909,000				Prestige Brands, Inc.*
				3.750%, 04/01/31			832,689
710,000				RR Donnelley & Sons Co.*
				9.500%, 08/01/29			726,309
815,000				United Natural Foods, Inc.*
				6.750%, 10/15/28			812,824
							16,456,093
				Energy (4.9%)
				Ascent Resources Utica Holdings LLC/ARU Finance Corp.*
950,000				6.625%, 10/15/32			967,024
238,000				6.625%, 07/15/33			241,575
				Buckeye Partners LP
710,000				6.750%, 02/01/30*			736,320
500,000				5.850%, 11/15/43			445,750
356,000				6.875%, 07/01/29*			366,627
				Civitas Resources, Inc.*
938,000				8.750%, 07/01/31^			950,025
473,000				9.625%, 06/15/33			486,651
720,000				Continental Resources, Inc.
				4.900%, 06/01/44			566,057
742,000				DT Midstream, Inc.*µ
				4.125%, 06/15/29			715,325
				Enbridge, Inc.‡
724,000				7.375%, 03/15/55^
				5 yr. CMT + 3.12%			755,465
485,000				7.200%, 06/27/54
				5 yr. CMT + 2.97%			501,063
1,190,000				Encino Acquisition Partners Holdings LLC*
				8.750%, 05/01/31			1,316,366
				Energy Transfer LP‡
915,000				7.575%, 11/01/66^
				3 mo. USD Term SOFR + 3.28%			913,152
700,000				6.500%, 11/15/26
				5 yr. CMT + 5.69%			704,067
475,000				7.125%, 10/01/54^
				5 yr. CMT + 2.83%			487,474
				Genesis Energy LP/Genesis Energy Finance Corp.
719,000				8.875%, 04/15/30			760,990
475,000				8.000%, 05/15/33			492,850
1,325,000				Gulfport Energy Operating Corp.*
				6.750%, 09/01/29			1,348,890
950,000				Howard Midstream Energy Partners LLC*
				7.375%, 07/15/32			983,145
950,000				Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp.*
				6.875%, 12/01/32			960,725
960,000				Matador Resources Co.*
				6.500%, 04/15/32			963,014
360,000				Nabors Industries Ltd.*^
				7.500%, 01/15/28			332,683
1,019,000				Nabors Industries, Inc.*
				9.125%, 01/31/30			1,010,145
715,000				New Fortress Energy, Inc.*^
				6.500%, 09/30/26			250,557
1,006,000				Oceaneering International, Inc.
				6.000%, 02/01/28			1,013,243
600,000				ONEOK, Inc.*
				6.500%, 09/01/30			640,596
1,425,000				Parkland Corp.*
				6.625%, 08/15/32			1,455,694
				Permian Resources Operating LLC*
903,000				7.000%, 01/15/32			933,928
237,000				6.250%, 02/01/33			238,448
960,000				Plains All American Pipeline LP‡
				8.698%, 08/30/25
				3 mo. USD Term SOFR + 4.37%			963,178
960,000				South Bow Canadian Infrastructure Holdings Ltd.*‡
				7.625%, 03/01/55
				5 yr. CMT + 3.95%			992,314
1,306,000				Summit Midstream Holdings LLC*
				8.625%, 10/31/29			1,330,265

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
475,000				Sunoco LP*
				6.250%, 07/01/33		$	481,451
1,580,000				TGNR Intermediate Holdings LLC*
				5.500%, 10/15/29			1,540,832
				Transocean, Inc.*
1,304,800				8.750%, 02/15/30			1,353,704
950,000				8.250%, 05/15/29			898,339
				Venture Global Calcasieu Pass LLC*
240,000				4.125%, 08/15/31			221,784
240,000				3.875%, 08/15/29			226,678
				Venture Global LNG, Inc.*
2,125,000				9.000%, 09/30/29‡
				5 yr. CMT + 5.44%			2,126,849
1,195,000				8.375%, 06/01/31			1,235,905
715,000				8.125%, 06/01/28			740,618
499,000				7.000%, 01/15/30^			506,510
480,000				9.875%, 02/01/32			518,261
480,000				9.500%, 02/01/29			523,613
				Venture Global Plaquemines LNG LLC*
950,000				6.500%, 01/15/34			977,540
119,000				6.750%, 01/15/36			122,451
950,000				Vital Energy, Inc.
				9.750%, 10/15/30			893,275
1,000,000				VOC Escrow Ltd.*
				5.000%, 02/15/28			991,660
1,002,000				Weatherford International Ltd.*
				8.625%, 04/30/30			1,030,637
833,000				Wildfire Intermediate Holdings LLC*
				7.500%, 10/15/29			830,384
							40,044,097
				Financials (6.0%)
818,000				Acrisure LLC/Acrisure Finance, Inc.*
				8.250%, 02/01/29			846,213
900,000				AerCap Ireland Capital DAC/AerCap Global Aviation Trust‡^
				6.950%, 03/10/55
				5 yr. CMT + 2.72%			940,338
				Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer*
950,000				7.375%, 10/01/32^			977,360
950,000				6.500%, 10/01/31			965,324
				Ally Financial, Inc.‡
1,327,000				4.700%, 05/15/26
				5 yr. CMT + 3.87%			1,294,794
445,000				4.700%, 05/15/28
				7 yr. CMT + 3.48%			406,628
983,000				AmWINS Group, Inc.*
				4.875%, 06/30/29			955,486
475,000				Amynta Agency Borrower, Inc. & Amynta Warranty Borrower, Inc.*
				7.500%, 07/15/33			477,209
980,000				AssuredPartners, Inc.*
				5.625%, 01/15/29			978,491
950,000				Azorra Finance Ltd.*
				7.250%, 01/15/31			970,644
950,000				Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group Holdings Finance*
				7.125%, 05/15/31			981,303
950,000				Blackstone Mortgage Trust, Inc.*
				7.750%, 12/01/29			1,006,420
1,000,000				Boost Newco Borrower LLC*
				7.500%, 01/15/31			1,057,950
475,000				Brandywine Operating Partnership LP
				8.875%, 04/12/29			510,782
713,000				Bread Financial Holdings, Inc.*‡
				8.375%, 06/15/35
				5 yr. CMT + 4.30%			737,563
1,676,000				BroadStreet Partners, Inc.*
				5.875%, 04/15/29			1,665,944
742,000				Brookfield Property REIT, Inc./BPR Cumulus LLC/BPR Nimbus LLC/GGSI Sellco LLC*
				4.500%, 04/01/27			721,981
1,000,000				Burford Capital Global Finance LLC*
				6.875%, 04/15/30			998,740
935,000				Corebridge Financial, Inc.‡
				6.375%, 09/15/54
				5 yr. CMT + 2.65%			935,215
				Credit Acceptance Corp.*
635,000				9.250%, 12/15/28			672,103
422,000				6.625%, 03/15/30			427,499
960,000				Cushman & Wakefield U.S. Borrower LLC*^
				8.875%, 09/01/31			1,030,387
475,000				Enstar Group Ltd.*‡^
				7.500%, 04/01/45
				5 yr. CMT + 3.19%			490,632
				GGAM Finance Ltd.*
1,075,000				8.000%, 02/15/27			1,108,045
475,000				5.875%, 03/15/30			477,489
535,000				HAT Holdings I LLC/HAT Holdings II LLC*µ
				8.000%, 06/15/27			555,089
				HUB International Ltd.*
1,430,000				5.625%, 12/01/29			1,421,677
715,000				7.375%, 01/31/32			744,994
1,515,000				Iron Mountain, Inc.*
				5.250%, 03/15/28			1,508,273
				Jefferies Finance LLC/JFIN Co-Issuer Corp.*
1,185,000				5.000%, 08/15/28			1,143,999
945,000				6.625%, 10/15/31			941,834
				Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.*
594,000				7.000%, 07/15/31			622,405
591,000				4.750%, 06/15/29			574,393
				Level 3 Financing, Inc.*
736,340				10.000%, 10/15/32			742,893
500,000				3.875%, 10/15/30			433,665
955,000				Macquarie Airfinance Holdings Ltd.*
				8.125%, 03/30/29			997,192
1,405,000				MetLife, Inc.
				6.400%, 12/15/66			1,464,136
475,000				Newmark Group, Inc.
				7.500%, 01/12/29			504,716
				OneMain Finance Corp.
660,000				3.875%, 09/15/28			629,864
475,000				7.500%, 05/15/31^			495,458

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
905,000				Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer*
				7.000%, 02/01/30		$	927,978
1,190,000				Provident Funding Associates LP/PFG Finance Corp.*
				9.750%, 09/15/29			1,247,334
950,000				RHP Hotel Properties LP/RHP Finance Corp.*
				6.500%, 04/01/32			971,584
				Rocket Cos., Inc.*
712,000				6.375%, 08/01/33			726,788
475,000				6.125%, 08/01/30			482,215
928,000				Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc.*
				3.875%, 03/01/31			856,516
705,000				Saks Global Enterprises LLC*
				11.000%, 12/15/29			167,000
725,000				Service Properties Trust
				8.375%, 06/15/29			753,601
				Starwood Property Trust, Inc.*
950,000				6.000%, 04/15/30			960,089
475,000				6.500%, 07/01/30			489,022
236,000				Stonex Escrow Issuer LLC*
				6.875%, 07/15/32			240,536
1,190,000				StoneX Group, Inc.*
				7.875%, 03/01/31			1,253,403
950,000				TrueNoord Capital DAC*
				8.750%, 03/01/30			985,255
				United Wholesale Mortgage LLC*
1,123,000				5.500%, 04/15/29			1,099,473
480,000				5.750%, 06/15/27			480,514
				Uniti Group LP/Uniti Group Finance 2019, Inc./CSL Capital LLC*
469,000				10.500%, 02/15/28			496,043
465,000				6.500%, 02/15/29^			452,771
475,000				VFH Parent LLC/Valor Co-Issuer, Inc.*
				7.500%, 06/15/31			494,627
950,000				XHR LP*
				6.625%, 05/15/30			966,388
							48,466,265
				Health Care (2.4%)
475,000				Acadia Healthcare Co., Inc.*^
				7.375%, 03/15/33			489,630
				CHS/Community Health Systems, Inc.*
1,917,000				6.125%, 04/01/30^			1,359,824
713,000				10.875%, 01/15/32			748,351
538,000				6.875%, 04/15/29^			422,357
120,000				5.250%, 05/15/30			105,140
				DaVita, Inc.*
1,139,000				3.750%, 02/15/31			1,034,007
1,061,000				4.625%, 06/01/30			1,013,457
925,000				6.875%, 09/01/32			952,130
				Embecta Corp.*
717,000				5.000%, 02/15/30^			650,620
240,000				6.750%, 02/15/30			231,286
				Encompass Health Corp.
470,000				4.750%, 02/01/30			459,613
470,000				4.500%, 02/01/28			463,274
1,010,000				HCA, Inc.
				7.500%, 11/06/33			1,145,391
534,000				IQVIA, Inc.*
				6.250%, 06/01/32			547,991
300,000				Jazz Securities DAC*
				4.375%, 01/15/29			290,433
				Medline Borrower LP*
1,215,000				3.875%, 04/01/29			1,159,207
1,208,000				5.250%, 10/01/29			1,185,640
120,000				Medline Borrower LP/Medline Co-Issuer, Inc.*
				6.250%, 04/01/29			122,658
				Organon & Co./Organon Foreign Debt Co-Issuer BV*
1,760,000				5.125%, 04/30/31^			1,523,421
450,000				4.125%, 04/30/28			426,429
				Tenet Healthcare Corp.
2,250,000				6.250%, 02/01/27			2,253,352
1,315,000				6.875%, 11/15/31			1,402,092
1,215,000				Teva Pharmaceutical Finance Netherlands III BV^
				5.125%, 05/09/29			1,215,680
							19,201,983
				Industrials (3.8%)
950,000				AAR Escrow Issuer LLC*
				6.750%, 03/15/29			975,707
1,100,000				ACCO Brands Corp.*
				4.250%, 03/15/29			975,051
965,000				Air Lease Corp.‡
				4.125%, 12/15/26
				5 yr. CMT + 3.15%			944,619
				Arcosa, Inc.*
538,000				4.375%, 04/15/29			519,202
475,000				6.875%, 08/15/32			491,440
2,630,843				ARD Finance SA*
				6.500%, 06/30/27
				7.250% PIK rate			196,498
				Bombardier, Inc.*
480,000				8.750%, 11/15/30			517,349
355,000				7.000%, 06/01/32^			367,926
300,000				7.250%, 07/01/31^			313,398
237,000				6.750%, 06/15/33			244,902
50,000				7.875%, 04/15/27			50,210
956,000				BWX Technologies, Inc.*
				4.125%, 04/15/29			918,840
1,485,000				Cascades, Inc./Cascades USA, Inc.*
				6.750%, 07/15/30			1,483,723
239,000				Delta Air Lines, Inc./SkyMiles IP Ltd.*µ
				4.750%, 10/20/28			239,337
				Deluxe Corp.*
1,265,000				8.000%, 06/01/29			1,215,513
235,000				8.125%, 09/15/29			241,745
				EnerSys*
500,000				6.625%, 01/15/32			514,180
475,000				4.375%, 12/15/27			466,977
				EquipmentShare.com, Inc.*
359,000				8.000%, 03/15/33			375,331
355,000				8.625%, 05/15/32			378,110
955,000				Graham Packaging Co., Inc.*
				7.125%, 08/15/28			953,510
				Graphic Packaging International LLC*
625,000				4.750%, 07/15/27			615,987
446,000				3.500%, 03/01/29			419,588

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED) 

 

PRINCIPAL
AMOUNT						VALUE
1,054,000				Great Lakes Dredge & Dock Corp.*
				5.250%, 06/01/29		$	1,000,204
				Herc Holdings, Inc.*
1,250,000				5.500%, 07/15/27			1,246,375
475,000				7.250%, 06/15/33			492,451
475,000				7.000%, 06/15/30			490,979
475,000				6.625%, 06/15/29^			486,666
				JELD-WEN, Inc.*
712,000				7.000%, 09/01/32			535,595
260,000				4.875%, 12/15/27^			246,787
1,575,000				Ken Garff Automotive LLC*
				4.875%, 09/15/28			1,534,979
588,000				Moog, Inc.*
				4.250%, 12/15/27			575,346
940,000				Novelis Corp.*
				4.750%, 01/30/30			901,545
950,000				Quikrete Holdings, Inc.*
				6.375%, 03/01/32			975,441
				Sealed Air Corp.*
239,000				5.000%, 04/15/29			235,699
235,000				6.500%, 07/15/32^			242,414
				Sealed Air Corp./Sealed Air Corp. U.S.*
743,000				6.125%, 02/01/28^			750,631
240,000				7.250%, 02/15/31			249,626
450,000				Sensata Technologies BV*
				4.000%, 04/15/29			428,238
479,000				Sensata Technologies, Inc.*
				3.750%, 02/15/31			437,016
				Standard Building Solutions, Inc.*
475,000				6.250%, 08/01/33			479,783
235,000				6.500%, 08/15/32			240,144
451,000				Standard Industries, Inc.*
				5.000%, 02/15/27			451,171
				TransDigm, Inc.*
1,035,000				6.875%, 12/15/30			1,073,585
710,000				6.750%, 08/15/28			724,953
360,000				7.125%, 12/01/31			375,206
235,000				6.625%, 03/01/32			241,895
246,441				United Airlines Pass-Through Trust Series 2019-2, Class B
				3.500%, 11/01/29			239,023
529,000				Wabash National Corp.*
				4.500%, 10/15/28			474,286
952,000				Waste Pro USA, Inc.*
				7.000%, 02/01/33			988,871
				Williams Scotsman, Inc.*
565,000				4.625%, 08/15/28			556,101
480,000				7.375%, 10/01/31			501,394
355,000				6.625%, 06/15/29			364,478
							30,960,025
				Information Technology (1.6%)
475,000				CACI International, Inc.*
				6.375%, 06/15/33			486,794
557,000				Coherent Corp.*
				5.000%, 12/15/29			545,498
430,000				Dell International LLC/EMC Corp.µ
				6.020%, 06/15/26			433,732
478,000				Dun & Bradstreet Corp.*
				5.000%, 12/15/29			489,310
				Fair Isaac Corp.*
480,000				4.000%, 06/15/28			464,122
356,000				6.000%, 05/15/33			358,417
1,050,000				KBR, Inc.*
				4.750%, 09/30/28			1,013,754
				NCL Corp. Ltd.*
477,000				8.125%, 01/15/29			501,890
475,000				6.750%, 02/01/32			488,215
723,000				ON Semiconductor Corp.*
				3.875%, 09/01/28			698,338
475,000				Open Text Corp.*
				6.900%, 12/01/27			490,632
359,000				Open Text Holdings, Inc.*
				4.125%, 12/01/31			327,211
840,000				Playtika Holding Corp.*
				4.250%, 03/15/29			770,708
1,350,000				TTM Technologies, Inc.*
				4.000%, 03/01/29			1,286,739
				Twilio, Inc.
680,000				3.625%, 03/15/29			644,504
236,000				3.875%, 03/15/31			219,494
356,000				UKG, Inc.*
				6.875%, 02/01/31			366,121
1,435,000				Viavi Solutions, Inc.*
				3.750%, 10/01/29			1,331,020
950,000				Zebra Technologies Corp.*
				6.500%, 06/01/32			974,292
1,100,000				ZoomInfo Technologies LLC/ZoomInfo Finance Corp.*
				3.875%, 02/01/29			1,034,781
							12,925,572
				Materials (1.9%)
950,000				Avient Corp.*
				6.250%, 11/01/31			954,256
950,000				Capstone Copper Corp.*
				6.750%, 03/31/33			968,078
475,000				Celanese U.S. Holdings LLC
				6.879%, 07/15/32			491,991
950,000				Century Aluminum Co.*
				6.875%, 08/01/32			959,975
				Chemours Co.*
805,000				8.000%, 01/15/33			749,519
717,000				4.625%, 11/15/29^			608,382
1,765,000				Clearwater Paper Corp.*
				4.750%, 08/15/28			1,665,754
710,000				Cleveland-Cliffs, Inc.*^
				7.000%, 03/15/32			693,187
375,000				Constellium SE*^
				6.375%, 08/15/32			380,258
1,460,000				FMC Corp.‡
				8.450%, 11/01/55
				5 yr. CMT + 4.37%			1,511,173
950,000				JW Aluminum Continuous Cast Co.*
				10.250%, 04/01/30			984,779
955,000				Knife River Corp.*
				7.750%, 05/01/31			1,003,151
				Mercer International, Inc.
1,020,000				5.125%, 02/01/29			822,620
483,000				12.875%, 10/01/28*			487,550
935,000				OCI NV*
				6.700%, 03/16/33			1,041,440
1,105,000				Silgan Holdings, Inc.
				4.125%, 02/01/28			1,073,961
950,000				Terex Corp.*
				6.250%, 10/15/32			952,128

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
406,300				Trinseo Luxco Finance SPV SARL/Trinseo NA Finance SPV LLC*
				7.625%, 05/03/29		$	237,133
							15,585,335
				Other (1.3%)
1,305,000				1261229 BC Ltd.*
				10.000%, 04/15/32			1,329,508
950,000				Alumina Pty. Ltd.*
				6.375%, 09/15/32			964,231
368,715				Claritev Corp.*
				6.750%, 03/31/31
				0.75% PIK Rate			269,383
				EchoStar Corp.
1,462,615				10.750%, 11/30/29			1,543,249
1,012,724				6.750%, 11/30/30
				6.75% Cash or PIK			961,075
500,000				Gen Digital, Inc.*
				6.750%, 09/30/27			508,990
475,000				Mohegan Tribal Gaming Authority/MS Digital Entertainment Holdings LLC*
				8.250%, 04/15/30			492,475
950,000				New Gold, Inc.*
				6.875%, 04/01/32			975,888
510,000				Nissan Motor Acceptance Co. LLC*
				7.050%, 09/15/28			525,524
950,000				Olin Corp.*
				6.625%, 04/01/33			925,633
475,000				Reinsurance Group of America, Inc.‡
				6.650%, 09/15/55
				5 yr. CMT + 2.39%			475,622
950,000				Rfna LP*
				7.875%, 02/15/30			968,810
950,000				Stonepeak Nile Parent LLC*
				7.250%, 03/15/32			998,441
							10,938,829
				Real Estate (0.3%)
475,000				Forestar Group, Inc.*
				6.500%, 03/15/33			477,399
630,000				Global Net Lease, Inc.*^
				4.500%, 09/30/28			607,660
1,437,000				Global Net Lease, Inc./Global Net Lease Operating Partnership LP*
				3.750%, 12/15/27			1,373,441
							2,458,500
				Special Purpose Acquisition Companies (0.2%)
237,000				Clydesdale Acquisition Holdings, Inc.*
				6.750%, 04/15/32			242,783
				Fertitta Entertainment LLC/Fertitta Entertainment Finance Co., Inc.*
955,000				6.750%, 01/15/30^			899,324
477,000				4.625%, 01/15/29			453,703
							1,595,810
				Utilities (0.7%)
				AES Corp.‡
361,000				6.950%, 07/15/55
				5 yr. CMT + 2.89%			348,755
157,000				7.600%, 01/15/55
				5 yr. CMT + 3.20%			159,196
475,000				Dominion Energy, Inc.‡
				6.625%, 05/15/55
				5 yr. CMT + 2.21%			487,388
950,000				Duke Energy Corp.‡^
				6.450%, 09/01/54
				5 yr. CMT + 2.59%			978,291
750,000				Entergy Corp.‡
				7.125%, 12/01/54
				5 yr. CMT + 2.67%			778,380
710,000				Evergy, Inc.‡
				6.650%, 06/01/55
				5 yr. CMT + 2.56%			717,959
718,000				NiSource, Inc.‡
				6.950%, 11/30/54
				5 yr. CMT + 2.45%			746,935
350,000				PPL Capital Funding, Inc.‡
				7.222%, 03/30/67
				3 mo. USD Term SOFR + 2.93%			348,079
				Vistra Corp.*‡
450,000				7.000%, 12/15/26
				5 yr. CMT + 5.74%			454,797
250,000				8.000%, 10/15/26
				5 yr. CMT + 6.93%			255,353
							5,275,133
				Total Corporate Bonds
				(Cost $301,802,539)			296,125,782
Convertible Bonds (89.8%)
				Communication Services (13.4%)
4,250,000				AST SpaceMobile, Inc.*µ
				2.375%, 10/15/32			4,479,075
16,000,000				DoorDash, Inc.*µ
				0.000%, 05/15/30			17,395,840
9,000,000				Liberty Media Corp.-Liberty Formula One
				2.250%, 08/15/27			11,729,430
15,500,000				Live Nation Entertainment, Inc.*µ
				2.875%, 01/15/30			16,692,725
4,250,000				MakeMyTrip Ltd.*
				0.000%, 07/01/30			4,381,580
5,250,000				Match Group Financeco 3, Inc.*µ
				2.000%, 01/15/30			4,747,103
16,250,000				Snap, Inc.µ
				0.500%, 05/01/30			14,258,887
				Uber Technologies, Inc.µ
14,500,000				0.875%, 12/01/28			19,817,440
13,750,000				0.000%, 05/15/28*			15,402,887
							108,904,967
				Consumer Discretionary (9.7%)
11,000,000				Alibaba Group Holding Ltd.
				0.500%, 06/01/31			14,623,730
4,250,000				Carnival Corp.
				5.750%, 12/01/27			9,835,052
11,500,000				DraftKings Holdings, Inc.µ
				0.000%, 03/15/28			10,480,065
4,250,000				Etsy, Inc.*µ
				1.000%, 06/15/30			4,287,740
3,500,000				Lucid Group, Inc.*
				5.000%, 04/01/30			3,531,045

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
10,250,000				Marriott Vacations Worldwide Corp.µ
				3.250%, 12/15/27		$	9,752,670
11,500,000				Rivian Automotive, Inc.µ
				4.625%, 03/15/29			11,351,535
1,000,000				Royal Caribbean Cruises Ltd.
				6.000%, 08/15/25			6,411,970
2,875,000				Shake Shack, Inc.
				0.000%, 03/01/28			2,903,405
3,500,000				Wayfair, Inc.
				3.500%, 11/15/28			5,659,990
							78,837,202
				Consumer Staples (1.1%)
4,614,000				Enovis Corp.
				3.875%, 10/15/28			4,407,754
4,250,000				Oddity Finance LLC*^
				0.000%, 06/15/30			4,486,045
							8,893,799
				Energy (1.3%)
4,250,000				Kosmos Energy Ltd.
				3.125%, 03/15/30			3,035,945
4,890,000				Nabors Industries, Inc.
				1.750%, 06/15/29			2,947,937
4,250,000				Northern Oil & Gas, Inc.
				3.625%, 04/15/29			4,434,407
				SunEdison, Inc.@
9,411,000				0.000%, 01/15/20*			32,939
898,000				0.000%, 10/01/18			3,143
							10,454,371
				Financials (2.2%)
4,250,000				Affirm Holdings, Inc.*µ
				0.750%, 12/15/29			4,494,078
6,250,000				Coinbase Global, Inc.^
				0.250%, 04/01/30			8,567,062
4,250,000				Upstart Holdings, Inc.*^
				1.000%, 11/15/30			5,085,508
							18,146,648
				Health Care (8.4%)
4,500,000				Alnylam Pharmaceuticals, Inc.
				1.000%, 09/15/27			6,624,630
8,250,000				Alphatec Holdings, Inc.*
				0.750%, 03/15/30			8,153,887
5,750,000				Exact Sciences Corp.*µ
				2.000%, 03/01/30			5,543,862
4,250,000				Haemonetics Corp.µ
				2.500%, 06/01/29			4,246,175
8,000,000				Halozyme Therapeutics, Inc.
				0.250%, 03/01/27			8,281,360
4,500,000				Integer Holdings Corp.*^
				1.875%, 03/15/30			4,423,275
4,250,000				Ionis Pharmaceuticals, Inc.µ
				1.750%, 06/15/28			4,654,048
				Jazz Investments I Ltd.µ
6,200,000				2.000%, 06/15/26			6,367,214
3,750,000				3.125%, 09/15/30*			4,141,838
2,721,000				Lantheus Holdings, Inc.
				2.625%, 12/15/27			3,218,154
3,000,000				Merit Medical Systems, Inc.*^
				3.000%, 02/01/29			3,539,490
10,250,000				NeoGenomics, Inc.
				0.250%, 01/15/28			8,655,817
							67,849,750
				Industrials (3.6%)
7,750,000				AeroVironment, Inc.µ
				0.000%, 07/15/30			8,728,980
1,625,000				Axon Enterprise, Inc.
				0.500%, 12/15/27			5,362,890
2,750,000				Bloom Energy Corp.
				3.000%, 06/01/28			5,782,755
3,500,000				Fluor Corp.
				1.125%, 08/15/29			4,929,925
4,000,000				Tetra Tech, Inc.
				2.250%, 08/15/28			4,562,280
							29,366,830
				Information Technology (40.0%)
4,125,000				Advanced Energy Industries, Inc.
				2.500%, 09/15/28			5,068,305
4,500,000				Akamai Technologies, Inc.µ
				0.375%, 09/01/27			4,326,030
3,500,000				Alkami Technology, Inc.*
				1.500%, 03/15/30			3,576,335
1,375,000				Applied Digital Corp.*
				2.750%, 06/01/30			2,155,574
8,500,000				Bill Holdings, Inc.*µ
				0.000%, 04/01/30			7,182,500
10,445,000				Cloudflare, Inc.*µ
				0.000%, 06/15/30			11,629,776
				Core Scientific, Inc.*
8,750,000				0.000%, 06/15/31µ			8,839,425
2,500,000				3.000%, 09/01/29			3,651,225
16,500,000				CyberArk Software Ltd.*
				0.000%, 06/15/30			16,986,915
17,250,000				Datadog, Inc.*µ
				0.000%, 12/01/29			16,777,867
8,500,000				Guidewire Software, Inc.*^
				1.250%, 11/01/29			9,762,845
2,850,000				IREN Ltd.*
				3.500%, 12/15/29			4,063,986
3,750,000				Itron, Inc.^
				1.375%, 07/15/30			4,310,625
3,986,000				Life360, Inc.*
				0.000%, 06/01/30			4,711,970
7,500,000				Lumentum Holdings, Inc.µ
				1.500%, 12/15/29			12,893,775
8,000,000				MACOM Technology Solutions Holdings, Inc.*
				0.000%, 12/15/29			8,365,920
				MicroStrategy, Inc.*
17,500,000				0.000%, 03/01/30µ			20,536,075
12,500,000				0.000%, 12/01/29			12,075,625
7,500,000				Mirion Technologies, Inc.*^
				0.250%, 06/01/30			8,875,050
15,750,000				MKS, Inc.µ
				1.250%, 06/01/30			15,386,962
11,000,000				Nutanix, Inc.*^
				0.500%, 12/15/29			12,431,980
17,250,000				ON Semiconductor Corp.µ
				0.500%, 03/01/29			16,401,300
				PAR Technology Corp.
2,500,000				1.500%, 10/15/27			2,716,625
2,000,000				1.000%, 01/15/30*			1,904,180
4,500,000				Parsons Corp.µ
				2.625%, 03/01/29			4,923,135

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
3,750,000				Q2 Holdings, Inc.
				0.750%, 06/01/26		$	4,123,013
7,500,000				Rapid7, Inc.
				1.250%, 03/15/29			6,663,750
2,500,000				Riot Platforms, Inc.*
				0.750%, 01/15/30			2,899,975
4,299,000				Rubrik, Inc.*µ^
				0.000%, 06/15/30			4,616,868
6,250,000				Seagate HDD Cayman
				3.500%, 06/01/28			12,125,250
14,750,000				Shift4 Payments, Inc.µ
				0.500%, 08/01/27			16,082,220
11,250,000				Snowflake, Inc.*µ
				0.000%, 10/01/29			17,503,987
6,500,000				Spotify USA, Inc.
				0.000%, 03/15/26			8,245,770
3,500,000				Super Micro Computer, Inc.*
				0.000%, 06/15/30			4,462,815
4,250,000				Tyler Technologies, Inc.
				0.250%, 03/15/26			5,140,035
4,250,000				Varonis Systems, Inc.*
				1.000%, 09/15/29			4,532,413
5,250,000				Western Digital Corp.
				3.000%, 11/15/28			11,264,295
				Wolfspeed, Inc.@
8,750,000				1.875%, 12/01/29			2,696,138
5,338,000				0.250%, 02/15/28			1,601,667
3,750,000				Workiva, Inc.µ
				1.250%, 08/15/28			3,458,963
							324,971,164
				Materials (1.2%)
298,000				Centrus Energy Corp.*^
				2.250%, 11/01/30			710,772
3,000,000				MP Materials Corp.*
				3.000%, 03/01/30			8,792,370
							9,503,142
				Real Estate (2.0%)
8,250,000				Digital Realty Trust LP*^
				1.875%, 11/15/29			8,715,218
4,250,000				Welltower OP LLC*
				2.750%, 05/15/28			7,390,920
							16,106,138
				Utilities (6.9%)
8,750,000				CMS Energy Corp.
				3.375%, 05/01/28			9,596,037
7,500,000				Duke Energy Corp.
				4.125%, 04/15/26			8,037,375
5,250,000				NextEra Energy Capital Holdings, Inc.
				3.000%, 03/01/27			5,991,143
15,250,000				PPL Capital Funding, Inc.µ
				2.875%, 03/15/28			17,033,640
13,750,000				Southern Co.µ
				4.500%, 06/15/27			15,398,075
							56,056,270
				Total Convertible Bonds
				(Cost $701,744,440)			729,090,281
U.S. Government and Agency Security (0.1%)
580,000				Farm Credit Bank of Texas‡
				7.000%, 09/15/30
				5 yr. CMT + 3.01%			589,725
Bank Loans (7.6%) ¡
				Airlines (0.2%)
636,938				Air Canada‡
				6.353%, 03/21/31
				1 mo. USD Term SOFR + 2.00%			637,734
530,372				United Airlines, Inc.‡
				6.351%, 02/22/31
				1 mo. USD Term SOFR + 2.00%			533,090
							1,170,824
				Communication Services (0.6%)
395,345				Audacy Capital Corp.‡
				10.471%, 10/01/29
				1 mo. USD Term SOFR + 6.00%			326,654
44,133				Audacy Capital Corp.‡
				11.471%, 10/02/28
				1 mo. USD Term SOFR + 7.00%			44,022
480,107				Cincinnati Bell, Inc.‡
				7.106%, 11/22/28
				1 mo. USD Term SOFR + 2.75%			481,521
460,998				Clear Channel Outdoor Holdings, Inc.‡
				8.471%, 08/23/28
				1 mo. USD Term SOFR + 4.00%			460,957
846,228				CSC Holdings LLC‡
				9.000%, 04/15/27
				3 mo. U.S. (Fed) Prime Rate + 1.50%			834,770
365,962				DirecTV Financing LLC‡
				9.820%, 08/02/29
				3 mo. USD Term SOFR + 5.25%			363,621
218,339				DirecTV Financing LLC‡
				9.570%, 08/02/27
				3 mo. USD Term SOFR + 5.00%			219,240
19,324				Gray Television, Inc.‡
				9.579%, 06/04/29
				1 mo. USD Term SOFR + 5.25%			19,377
478,800				Sinclair Television Group, Inc.‡
				7.870%, 12/31/29
				3 mo. USD Term SOFR + 3.30%			447,199
970,000				Telesat Canada‡
				7.344%, 12/07/26
				3 mo. USD Term SOFR + 2.75%			619,069
1,181,672				TripAdvisor, Inc.‡
				7.106%, 07/08/31
				1 mo. USD Term SOFR + 2.75%			1,172,809
							4,989,239
				Consumer Discretionary (1.4%)
513,713				American Airlines, Inc.‡
				7.576%, 05/28/32
				3 mo. USD Term SOFR + 3.25%			517,886
605,660				American Axle & Manufacturing, Inc.‡
				7.346%, 12/13/29
				1 mo. USD Term SOFR + 3.00%			606,042

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
338,340				American Axle & Manufacturing, Inc.‡
				7.053%, 12/13/29
				6 mo. USD Term SOFR + 3.00%		$	338,553
320,000				Beach Acquisition Bidco LLC!
				0.000%, 06/25/32			322,400
475,000				Boots Group Bidco Ltd.!
				0.000%, 07/16/32			475,299
562,328				Caesars Entertainment, Inc.‡
				6.606%, 02/06/30
				1 mo. USD Term SOFR + 2.25%			562,738
616,900				Chinos Intermediate Holdings A, Inc.‡
				10.308%, 09/26/31
				3 mo. USD Term SOFR + 6.00%			525,136
1,120,000				Clarios Global LP‡
				7.106%, 01/28/32
				1 mo. USD Term SOFR + 2.75%			1,121,630
485,000				Flutter Financing BV‡
				6.296%, 06/04/32
				3 mo. USD Term SOFR + 2.00%			485,808
945,250				Life Time Fitness, Inc.‡
				6.577%, 11/05/31
				1 mo. USD Term SOFR + 2.25%			948,421
1,111,692				Light & Wonder International, Inc.‡
				6.593%, 04/14/29
				1 mo. USD Term SOFR + 2.25%			1,115,583
425,700				Peloton Interactive, Inc.‡
				9.833%, 05/30/29
				3 mo. USD Term SOFR + 5.50%			433,522
2,053,552				PetSmart, Inc.‡
				8.206%, 02/11/28
				1 mo. USD Term SOFR + 3.75%			2,052,269
938,125				Station Casinos LLC‡
				6.356%, 03/14/31
				1 mo. USD Term SOFR + 2.00%			940,240
959,845				Windsor Holdings III LLC‡
				7.103%, 08/01/30
				1 mo. USD Term SOFR + 2.75%			961,798
							11,407,325
				Consumer Staples (1.3%)
3,157,495				Amneal Pharmaceuticals LLC‡
				9.856%, 05/04/28
				1 mo. USD Term SOFR + 5.50%			3,220,645
1,041,700				Amneal Pharmaceuticals LLC!
				0.000%, 07/23/32			1,044,085
500,000				Avis Budget Car Rental LLC‡
				6.856%, 07/16/32
				1 mo. USD Term SOFR + 2.50%			498,360
704,675				B&G Foods, Inc.‡
				7.856%, 10/10/29
				1 mo. USD Term SOFR + 3.50%			653,734
145,000				Bausch & Lomb Corp.‡
				8.606%, 01/15/31
				1 mo. USD Term SOFR + 4.25%			145,798
589,000				Bausch Health Cos., Inc.‡
				10.606%, 10/08/30
				1 mo. USD Term SOFR + 6.25%			578,648
85,769				MPH Acquisition Holdings LLC‡
				8.058%, 12/31/30
				3 mo. USD Term SOFR + 3.75%			85,555
950,000				Opal Bidco SAS!
				0.000%, 04/28/32			955,287
1,156,417				Star Parent, Inc.‡
				8.296%, 09/27/30
				3 mo. USD Term SOFR + 4.00%			1,145,096
950,000				Team Health Holdings, Inc.!
				0.000%, 06/23/28			951,187
491,436				United Natural Foods, Inc.‡
				9.106%, 05/01/31
				1 mo. USD Term SOFR + 4.75%			495,999
947,613				Veritiv Corp.‡
				8.296%, 11/30/30
				3 mo. USD Term SOFR + 4.00%			952,650
							10,727,044
				Energy (0.2%)
708,474				New Fortress Energy, Inc.‡
				9.808%, 10/30/28
				3 mo. USD Term SOFR + 5.50%			332,097
1,425,960				Par Petroleum LLC‡
				8.029%, 02/28/30
				3 mo. USD Term SOFR + 3.75%			1,426,702
							1,758,799
				Financials (1.4%)
720,000				Acrisure LLC‡
				7.606%, 06/21/32
				1 mo. USD Term SOFR + 3.25%			722,700
1,420,000				Advisor Group, Inc.!
				0.000%, 07/16/32			1,422,222
1,274,909				Advisor Group, Inc.‡
				7.856%, 08/17/28
				1 mo. USD Term SOFR + 3.50%			1,277,765
714,184				Amynta Agency Borrower, Inc.‡
				7.082%, 12/29/31
				3 mo. USD Term SOFR + 2.75%			715,344
1,214,625				AssuredPartners, Inc.‡
				7.858%, 02/14/31
				1 mo. USD Term SOFR + 3.50%			1,218,475
444,386				Broadstreet Partners, Inc.‡
				7.106%, 06/13/31
				1 mo. USD Term SOFR + 2.75%			445,217
125,000				Broadstreet Partners, Inc.!
				0.000%, 06/13/31			125,234
950,000				CFC Bidco 2022 Ltd.‡
				8.041%, 05/30/32
				3 mo. USD Term SOFR + 3.75%			950,599
1,203,950				Dragon Buyer, Inc.‡
				7.296%, 09/30/31
				3 mo. USD Term SOFR + 3.00%			1,207,279
802,806				HUB International Ltd.‡
				6.826%, 06/20/30
				3 mo. USD Term SOFR + 2.50%			804,705
709,200				Iron Mountain, Inc.‡
				6.356%, 01/31/31
				1 mo. USD Term SOFR + 2.00%			710,235
671,755				Jazz Financing Lux SARL‡
				6.606%, 05/05/28
				1 mo. USD Term SOFR + 2.25%			675,168
950,000				Level 3 Financing, Inc.‡
				8.606%, 03/27/32
				1 mo. USD Term SOFR + 4.25%			959,871
							11,234,814

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

PRINCIPAL
AMOUNT						VALUE
				Health Care (0.1%)
976,846				Padagis LLC‡
				9.290%, 07/06/28
				3 mo. USD Term SOFR + 4.75%		$	893,814
				Industrials (1.0%)
942,769				ACProducts, Inc.‡
				8.807%, 05/17/28
				3 mo. USD Term SOFR + 4.25%			715,623
518,700				American Airlines, Inc.‡
				6.576%, 04/20/28
				3 mo. USD Term SOFR + 2.25%			517,274
715,000				Chamberlain Group, Inc.!
				0.000%, 07/22/32			715,593
950,000				ECO Material Tech, Inc.‡
				7.467%, 02/12/32
				6 mo. USD Term SOFR + 3.25%			954,750
950,000				EMRLD Borrower LP!
				0.000%, 08/04/31			951,781
352,338				EMRLD Borrower LP‡
				6.856%, 08/04/31
				1 mo. USD Term SOFR + 2.50%			352,998
940,500				MI Windows & Doors LLC‡
				7.106%, 03/28/31
				1 mo. USD Term SOFR + 2.75%			942,969
947,625				Quikrete Holdings, Inc.‡
				6.606%, 02/10/32
				1 mo. USD Term SOFR + 2.25%			947,980
183,222				Qxo, Inc.‡
				7.296%, 04/30/32
				3 mo. USD Term SOFR + 3.00%			185,018
1,878,587				TransDigm, Inc.‡
				6.796%, 02/28/31
				3 mo. USD Term SOFR + 2.50%			1,886,261
							8,170,247
				Information Technology (0.8%)
1,313,786				Boxer Parent Co., Inc.‡
				7.333%, 07/30/31
				3 mo. USD Term SOFR + 3.00%			1,315,323
968,079				Camelot U.S. Acquisition LLC‡
				7.106%, 01/31/31
				1 mo. USD Term SOFR + 2.75%			968,926
732,071				Coherent Corp.‡
				6.356%, 07/02/29
				1 mo. USD Term SOFR + 2.00%			734,999
947,655				Dun & Bradstreet Corp.‡
				6.603%, 01/18/29
				1 mo. USD Term SOFR + 2.25%			948,333
1,430,000				Rocket Software, Inc.!
				0.000%, 11/28/28			1,435,255
791,665				SS&C Technologies, Inc.‡
				6.356%, 05/09/31
				1 mo. USD Term SOFR + 2.00%			795,255
495,000				UKG, Inc.‡
				6.810%, 02/10/31
				3 mo. USD Term SOFR + 2.50%			495,510
							6,693,601
				Materials (0.3%)
1,506,305				Ineos U.S. Finance LLC‡
				7.606%, 02/18/30
				1 mo. USD Term SOFR + 3.25%			1,403,213
724,253				Trinseo Materials Operating SCA‡
				7.090%, 05/03/28
				3 mo. USD Term SOFR + 2.50%			313,544
966,259				W.R. Grace & Co.-Conn.‡
				7.546%, 09/22/28
				3 mo. USD Term SOFR + 3.25%			968,370
							2,685,127
				Other (0.1%)
475,000				Windstream Services LLC‡
				9.206%, 10/01/31
				1 mo. USD Term SOFR + 4.75%			477,969
				Special Purpose Acquisition Companies (0.2%)
390,400				Clydesdale Acquisition Holdings, Inc.‡
				7.531%, 04/13/29
				1 mo. USD Term SOFR + 3.18%			390,691
237,038				Fertitta Entertainment LLC‡
				7.601%, 01/27/29
				1 mo. USD Term SOFR + 3.25%			237,505
972,500				Patagonia Holdco LLC‡
				10.048%, 08/01/29
				3 mo. USD Term SOFR + 5.75%			812,796
							1,440,992
				Total Bank Loans
				(Cost $62,723,687)			61,649,795

 

NUMBER OF
SHARES						VALUE
Convertible Preferred Stocks (12.9%)
				Financials (4.2%)
83,465				Apollo Global Management, Inc.
				6.750%, 07/31/26		$	6,358,363
165,055				ARES Management Corp.
				6.750%, 10/01/27			9,342,113
8,100				Bank of America Corp.^‡‡
				7.250%, 12/31/49			9,882,000
156,055				KKR & Co., Inc.
				6.250%, 03/01/28			8,965,360
							34,547,836
				Industrials (4.1%)
401,365				Boeing Co.
				6.000%, 10/15/27			28,376,505
82,135				QXO, Inc.#
				5.500%, 05/15/28			4,749,046
							33,125,551
				Information Technology (2.6%)
149,865				Hewlett Packard Enterprise Co.
				7.625%, 09/01/27			8,991,900
120,040				Microchip Technology, Inc.
				7.500%, 03/15/28			7,551,717
38,935				Shift4 Payments, Inc.
				6.000%, 05/01/28			4,592,383
							21,136,000
				Materials (0.6%)
132,880				Albemarle Corp.
				7.250%, 03/01/27			4,512,605

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

NUMBER OF
SHARES						VALUE
				Utilities (1.4%)
				NextEra Energy, Inc.
180,300				6.926%, 09/01/25^		$	7,347,225
85,285				7.299%, 06/01/27			4,097,091
							11,444,316
				Total Convertible Preferred Stocks
				(Cost $102,003,130)			104,766,308
Warrants (0.0%) #
				Communication Services (0.0%)
2,987				Audacy Capital Corp.
				09/30/28, Strike $1.00			—
498				Audacy Capital Corp.
				09/30/28, Strike $1.00			—
							—
				Energy (0.0%)
47,739				Mcdermott International Ltd.
				06/30/27, Strike $15.98			5
42,965				Mcdermott International Ltd.
				06/30/27, Strike $12.33			4
							9
				Total Warrants
				(Cost $18,376)			9
Common Stocks (1.0%)
				Communication Services (0.5%)
20,285				Altice USA, Inc. - Class A^#			52,741
75,558				AST SpaceMobile, Inc.#			4,017,419
17,477				Audacy, Inc.#			244,678
6,819				Cumulus Media, Inc. - Class A#			941
							4,315,779
				Consumer Discretionary (0.0%)
1,446				Rite Aid Corp.#			1,446
				Energy (0.5%)
9,445				Centrus Energy Corp. - Class Aµ^#			2,034,453
4,000				Cheniere Energy Partners LP			230,680
56,650				Energy Transfer LP			1,021,966
26,095				Enterprise Products Partners LP			808,684
6,644				EP Energy Corp.#			9,966
							4,105,749
				Total Common Stocks
				(Cost $8,545,572)			8,422,974
Preferred Stocks (0.1%)
				Communication Services (0.1%)
25,448				Qwest Corp.
				6.500%, 09/01/56			503,870
7,676				Telephone & Data Systems, Inc.^
				6.625%, 03/31/26			162,731
				U.S. Cellular Corp.
7,935				6.250%, 09/01/69			202,739
6,503				5.500%, 03/01/70			144,172
743				5.500%, 06/01/70			16,688
							1,030,200
				Consumer Discretionary (0.0%)
6,122				Guitar Center, Inc.#			91,830
				Total Preferred Stocks
				(Cost $1,577,084)			1,122,030

 

NUMBER OF
CONTRACTS/
NOTIONAL
AMOUNT						VALUE
Exchange-Traded Purchased Options (0.1%) #
				Communication Services (0.0%)
420				AST SpaceMobile, Inc.
2,233,140				Put, 09/19/25, Strike $45.00		$	137,550
				Other (0.1%)
630				SPDR® S&P 500® ETF Trust
39,821,040				Put, 11/28/25, Strike $550.00			331,380
				Total Exchange-Traded Purchased Options
				(Cost $1,114,403)			468,930
TOTAL INVESTMENTS (148.1%)
(Cost $1,180,842,923)							1,202,972,033
MANDATORY REDEEMABLE PREFERRED SHARES, AT LIQUIDATION VALUE (-16.3%)							(132,750,000	)
LIABILITIES, LESS OTHER ASSETS (-31.8%)							(257,957,666	)
NET ASSETS (100.0%)						$	812,264,367

 

NOTES TO SCHEDULE OF INVESTMENTS
*	Securities issued and sold pursuant to a Rule 144A transaction are exempted from the registration requirement of the Securities Act of 1933, as amended. These securities may only be sold to qualified institutional buyers (“QIBs”), such as the 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.
µ	Security, or portion of security, is held in a segregated account as collateral for note payable aggregating a total value of $356,853,132.
‡	Variable rate security. The rate shown is the rate in effect at July 31, 2025.
^	Security, or portion of security, is on loan.
@	In default status and considered non-income producing.
!!	Restricted security - The Fund may own investment securities that have other legal or contractual limitations.

 

Restricted Security		Acquisition Date		Acquisition Cost
Rite Aid Corp.		12/01/2024		$	100,383
Rite Aid Corp.		12/05/2024			91,206
Total				$	191,589

 

See accompanying Notes to Schedule of Investments

 

 

Calamos Convertible Opportunities and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2025 (UNAUDITED)

 

¡	Bank loans generally are subject to mandatory and/or optional prepayment. As a result, the actual remaining maturity of bank loans may be substantially less than the stated maturities shown.
!	This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which will be adjusted on settlement date.
‡‡	Perpetual maturity.
#	Non-income producing security.
Note: The date on options represents the expiration date of the option contract. The option contract may be exercised at any date on or before the date shown.

 

The following table summarizes the Fund's investments and derivative financial instruments categorized in the fair value hierarchy as of July 31, 2025 (see Note 2):

 

		LEVEL 1				LEVEL 2				LEVEL 3				TOTAL
Assets:
Asset Backed Security		$	—			$	736,199			$	—			$	736,199
Corporate Bonds			—				296,125,782				—				296,125,782
Convertible Bonds			—				729,090,281				—				729,090,281
U.S. Government and Agency Security			—				589,725				—				589,725
Bank Loans			—				61,649,795				—				61,649,795
Convertible Preferred Stocks			104,766,308				—				—				104,766,308
Warrants			9				—				—				9
Common Stocks			8,422,974				—				—				8,422,974
Preferred Stocks			1,122,030				—				—				1,122,030
Exchange-Traded Purchased Options			468,930				—				—				468,930
Total		$	114,780,251			$	1,088,191,782			$	—			$	1,202,972,033

 

See accompanying Notes to Schedule of Investments