Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2022 (UNAUDITED)

PRINCIPAL AMOUNT			VALUE
	CORPORATE BONDS (16.0%)
		Airlines (0.4%)
	407,081	Air Canada Pass Through Trust Series 2015-1, Class B* 3.875%, 09/15/24	$	399,945
	59,400	Air Canada Pass Through Trust Series 2015-2, Class B* 5.000%, 06/15/25		58,208
	273,549	Alaska Airlines Pass Through Trust Series 2020-1, Class A* 4.800%, 02/15/29		270,001
	174,686	Alaska Airlines Pass Through Trust Series 2020-1, Class B*µ 8.000%, 02/15/27		183,457
	316,000	American Airlines Pass Through Trust Series 2021-1, Class B 3.950%, 01/11/32		265,017
	196,000	American Airlines, Inc. / AAdvantage Loyalty IP, Ltd.* 5.500%, 04/20/26		193,474
	65,000	5.750%, 04/20/29		62,318
	303,482	British Airways Pass Through Trust Series 2021-1, Class B* 3.900%, 03/15/33		262,181
	215,090	JetBlue Pass Through Trust Series 2020-1, Class B 7.750%, 05/15/30		216,901
	169,000	Spirit Loyalty Cayman, Ltd. / Spirit IP Cayman, Ltd.* 8.000%, 09/20/25		176,299
	201,829	United Airlines Pass Through Trust Series 2014-2, Class B 4.625%, 03/03/24		200,715
	129,490	United Airlines Pass Through Trust Series 2019-2, Class B 3.500%, 11/01/29		112,170
				2,400,686
		Communication Services (1.8%)
	300,000	Altice France, SA* 5.500%, 10/15/29		259,443
	320,000	APi Escrow Corp.* 4.750%, 10/15/29		270,054
	415,000	Arrow Bidco, LLC* 9.500%, 03/15/24		418,594
		Audacy Capital Corp.*
	131,000	6.750%, 03/31/29		63,525
	131,000	6.500%, 05/01/27		65,006
	196,000	Beasley Mezzanine Holdings, LLC*^ 8.625%, 02/01/26		149,503
	101,000	Cincinnati Bell Telephone Company, LLC 6.300%, 12/01/28		92,475
	405,000	Consolidated Communications, Inc.*^ 6.500%, 10/01/28		348,956
		CSC Holdings, LLC*
	570,000	5.500%, 04/15/27		552,609
	400,000	5.750%, 01/15/30		323,172
	400,000	5.375%, 02/01/28		380,404
	400,000	4.625%, 12/01/30		304,560
	200,000	4.500%, 11/15/31		170,386

PRINCIPAL AMOUNT			VALUE
		Diamond Sports Group, LLC / Diamond Sports Finance Company*
	210,000	6.625%, 08/15/27	$	20,767
	146,000	5.375%, 08/15/26		32,016
	503,000	DIRECTV Holdings, LLC / DIRECTV Financing Company, Inc.* 5.875%, 08/15/27		470,436
	254,000	Embarq Corp. 7.995%, 06/01/36		209,626
	275,000	Frontier California, Inc. 6.750%, 05/15/27		265,427
		Frontier Communications Holdings, LLC*
	169,000	5.000%, 05/01/28		158,855
	65,000	8.750%, 05/15/30		69,115
	289,000	Frontier Florida, LLC@ 6.860%, 02/01/28		274,128
	400,000	Frontier North, Inc.@ 6.730%, 02/15/28		381,748
		Go Daddy Operating Company, LLC / GD Finance Company, Inc.*
	235,000	3.500%, 03/01/29		209,754
	69,000	5.250%, 12/01/27		67,557
	80,000	Hughes Satellite Systems Corp. 5.250%, 08/01/26		81,219
		Intelsat Jackson Holdings, SA@&
	200,000	9.750%, 07/15/25*		—
	135,000	5.500%, 08/01/23		—
	330,000	LCPR Senior Secured Financing DAC* 6.750%, 10/15/27		323,351
	169,724	Ligado Networks, LLC* 15.500%, 11/01/23		90,385
		Lumen Technologies, Inc.
	422,000	7.600%, 09/15/39		342,094
	320,000	4.000%, 02/15/27*		297,443
	133,000	4.500%, 01/15/29*		105,552
	130,000	Match Group Holdings II, LLC*^ 3.625%, 10/01/31		110,393
	235,000	Midas OpCo Holdings, LLC* 5.625%, 08/15/29		197,976
		Netflix, Inc.
	200,000	4.875%, 06/15/30*^		196,658
	130,000	4.875%, 04/15/28		129,133
	135,000	Paramount Global‡ 6.375%, 03/30/62 5 year CMT + 4.00%		127,964
		Scripps Escrow II, Inc.*
	136,000	3.875%, 01/15/29		121,522
	68,000	5.375%, 01/15/31		58,044
	490,000	Scripps Escrow, Inc.* 5.875%, 07/15/27		468,768
		Sirius XM Radio, Inc.*
	345,000	5.500%, 07/01/29^		339,114
	201,000	4.000%, 07/15/28		186,818
	130,000	3.125%, 09/01/26		122,595
	65,000	3.875%, 09/01/31		55,884
	130,000	Spanish Broadcasting System, Inc.*^ 9.750%, 03/01/26		105,049
	680,000	Sprint Corp. 7.125%, 06/15/24		712,626

See accompanying Notes to Schedule of Investments

1

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2022 (UNAUDITED)

PRINCIPAL AMOUNT			VALUE
	210,000	Telecom Italia Capital, SA 6.000%, 09/30/34	$	166,152
	130,000	Telesat Canada / Telesat, LLC* 4.875%, 06/01/27		76,627
	240,000	United States Cellular Corp. 6.700%, 12/15/33		238,838
	33,000	Univision Communications, Inc.* 4.500%, 05/01/29		29,878
				10,242,199
		Consumer Discretionary (2.7%)
		American Axle & Manufacturing, Inc.
	278,000	6.875%, 07/01/28		268,003
	27,000	5.000%, 10/01/29^		23,636
		Ashton Woods USA, LLC / Ashton Woods Finance Company*
	204,000	6.625%, 01/15/28		178,979
	163,000	4.625%, 08/01/29		127,042
	65,000	4.625%, 04/01/30		49,516
		At Home Group, Inc.*
	195,000	4.875%, 07/15/28^		153,633
	131,000	7.125%, 07/15/29		89,015
	79,000	Avis Budget Car Rental, LLC / Avis Budget Finance, Inc.*^ 5.375%, 03/01/29		72,119
		Bath & Body Works, Inc.^
	355,000	6.694%, 01/15/27		350,534
	330,000	6.875%, 11/01/35		303,656
		Caesars Entertainment, Inc.*
	168,000	4.625%, 10/15/29^		142,526
	132,000	8.125%, 07/01/27^		132,310
	132,000	6.250%, 07/01/25		132,165
		Carnival Corp.*
	134,000	10.500%, 02/01/26		140,877
	68,000	7.625%, 03/01/26		58,701
	315,000	Carriage Services, Inc.* 4.250%, 05/15/29		274,623
	195,000	Carvana Company*
		4.875%, 09/01/29		116,916
		CCO Holdings, LLC / CCO Holdings Capital Corp.*
	725,000	5.125%, 05/01/27		712,059
	300,000	4.750%, 03/01/30		273,246
	266,000	4.250%, 02/01/31		230,965
	150,000	4.500%, 08/15/30		133,690
	130,000	5.000%, 02/01/28		125,590
	130,000	4.750%, 02/01/32		114,893
	100,000	4.250%, 01/15/34		82,852
	130,000	CDI Escrow Issuer, Inc.* 5.750%, 04/01/30		127,383
	207,000	Cedar Fair, LP^ 5.250%, 07/15/29		198,252
	65,000	Century Communities, Inc.* 3.875%, 08/15/29		55,943
		Dana, Inc.
	220,000	4.250%, 09/01/30		185,614
	130,000	4.500%, 02/15/32		108,661
		DISH DBS Corp.
	325,000	5.250%, 12/01/26*		278,993
	215,000	7.750%, 07/01/26^		178,003
	168,000	7.375%, 07/01/28		119,834
	400,000	Empire Resorts, Inc.* 7.750%, 11/01/26		360,108
	296,000	Everi Holdings, Inc.* 5.000%, 07/15/29		271,719

PRINCIPAL AMOUNT			VALUE
		Ford Motor Credit Company, LLC
	425,000	4.000%, 11/13/30	$	377,515
	350,000	5.113%, 05/03/29		338,863
	350,000	4.063%, 11/01/24		344,729
	315,000	4.134%, 08/04/25		308,983
	200,000	4.389%, 01/08/26		195,804
		Gap, Inc.*^
	98,000	3.875%, 10/01/31		71,107
	13,000	3.625%, 10/01/29		9,549
		goeasy, Ltd.*
	460,000	5.375%, 12/01/24		437,736
	241,000	4.375%, 05/01/26^		207,740
	195,000	Goodyear Tire & Rubber Company^ 5.000%, 07/15/29		177,920
	114,000	Group 1 Automotive, Inc.* 4.000%, 08/15/28		102,098
	503,000	Guitar Center, Inc.* 8.500%, 01/15/26		461,533
		International Game Technology, PLC*
	345,000	6.250%, 01/15/27		350,034
	200,000	4.125%, 04/15/26		191,066
	295,000	JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.*^ 5.125%, 02/01/28		294,546
	265,000	Liberty Interactive, LLC^ 8.250%, 02/01/30		174,921
		Life Time, Inc.*
	196,000	8.000%, 04/15/26^		184,975
	135,000	5.750%, 01/15/26		126,994
	168,000	Lindblad Expeditions, LLC* 6.750%, 02/15/27		154,557
	175,000	M/I Homes, Inc.^ 3.950%, 02/15/30		146,200
		Macy’s Retail Holdings, LLC*
	277,000	6.700%, 07/15/34		268,311
	163,000	5.875%, 03/15/30^		140,958
	310,000	Mclaren Finance, PLC* 7.500%, 08/01/26		269,275
	332,000	Midwest Gaming Borrower, LLC / Midwest Gaming Finance Corp.* 4.875%, 05/01/29		303,491
	360,000	Mohegan Gaming & Entertainment* 8.000%, 02/01/26		319,882
		Nordstrom, Inc.
	130,000	5.000%, 01/15/44^		96,045
	123,000	4.250%, 08/01/31		99,823
	305,000	Penn National Gaming, Inc.*^ 4.125%, 07/01/29		254,019
	365,000	Premier Entertainment Sub, LLC / Premier Entertainment Finance Corp.* 5.625%, 09/01/29		295,373
	659,000	Rite Aid Corp.*^ 8.000%, 11/15/26		559,531
	370,000	Simmons Foods, Inc. / Simmons Prepared Foods, Inc. / Simmons Pet Food, Inc. / Simmons Feed* 4.625%, 03/01/29		336,874
	303,000	Sonic Automotive, Inc.* 4.625%, 11/15/29		262,092
	193,000	Speedway Motorsports, LLC / Speedway Funding II, Inc.* 4.875%, 11/01/27		175,672

See accompanying Notes to Schedule of Investments

2

Calamos Dynamic Convertible and Income Fund

SCHEDULE OF INVESTMENTS JULY 31, 2022 (UNAUDITED)

PRINCIPAL AMOUNT			VALUE
	207,000	Taylor Morrison Communities, Inc.* 5.750%, 01/15/28	$	200,800
	65,000	Viking Cruises, Ltd.* 13.000%, 05/15/25		68,855
	300,000	Vista Outdoor, Inc.* 4.500%, 03/15/29		231,375
	275,000	VOC Escrow, Ltd.* 5.000%, 02/15/28		244,992
	67,000	Williams Scotsman International, Inc.* 4.625%, 08/15/28		62,900
				15,019,194
		Consumer Staples (0.7%)
	305,000	Central Garden & Pet Company* 4.125%, 04/30/31		263,303
	369,000	Edgewell Personal Care Company* 4.125%, 04/01/29		331,598
		Energizer Holdings, Inc.*
	370,000	4.375%, 03/31/29		305,683
	66,000	6.500%, 12/31/27		61,653
		JBS USA LUX, SA / JBS USA Food Company / JBS USA Finance, Inc.*
	390,000	5.500%, 01/15/30		380,476
	112,000	6.500%, 04/15/29		114,416
	134,000	Kraft Heinz Foods Company 4.375%, 06/01/46		118,299
	177,000	New Albertsons, LP 7.750%, 06/15/26		181,432
	261,000	Performance Food Group, Inc.* 4.250%, 08/01/29		232,290
	250,000	Petsmart, Inc. / PetSmart Finance Corp.* 4.750%, 02/15/28		237,138
	400,000	Pilgrim’s Pride Corp.* 5.875%, 09/30/27		400,376
		Post Holdings, Inc.*
	115,000	5.750%, 03/01/27		115,189
	68,000	5.500%, 12/15/29		64,304
	33,000	4.625%, 04/15/30		29,599
	252,000	Prestige Brands, Inc.* 3.750%, 04/01/31		216,881
	300,000	United Natural Foods, Inc.*^ 6.750%, 10/15/28		302,208
	413,000	Vector Group, Ltd.* 5.750%, 02/01/29		375,277
				3,730,122
		Energy (1.6%)
		Antero Resources Corp.*
	132,000	5.375%, 03/01/30^		129,852
	84,000	7.625%, 02/01/29		88,716
	268,000	Apache Corp. 5.100%, 09/01/40		239,404
		Buckeye Partners, LP
	210,000	3.950%, 12/01/26		195,733
	135,000	5.850%, 11/15/43		101,156
	300,000	Callon Petroleum Company*^ 7.500%, 06/15/30