CHY - Calamos Convertible & High Income Fund

What this means for you

None of the investors we follow has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Sept 8, 2026

   BlackRock Portfolio Management LLC now owns 50% of the fund's preferred shares, not the common shares most holders own.

   Original document →

2. Sept 8, 2026

   MetLife Investment Management, LLC now owns 50% of the fund's preferred shares, not the common shares most holders own.

   Original document →

3. Sept 8, 2026

   MetLife Investment Management, LLC sold down below 5% of the fund's preferred shares and stopped reporting.

   Original document →

4. Sept 4, 2026

   The fund said it may sell new shares.

   Original document →

5. Aug 25, 2026

   Thrivent Financial for Lutherans sold down below 5% of the fund's preferred shares and stopped reporting.

   Original document →

About this fund

• Run by Calamos Advisors LLC. Part of the Calamos Family of Funds fund family. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Size: about $1.02 billion of holdings, as of July 31, 2026. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 40% on top of its own money, as of July 31, 2026. Borrowed money makes gains and losses bigger. About 21% of that is money the fund has borrowed by selling preferred shares. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• The fund's own example of what borrowing does: in a year in which the holdings returned -10%, a share would return about -17.3%; at +10%, about +12.8%. As of Oct 31, 2025, from the fund's annual report. Original document →
• Costs: 1.3% a year in management fees; 4% a year in total, including interest on borrowed money. Fiscal year ended Oct 31, 2025. As of Oct 31, 2025, from the fund's yearly report. Original document →
  Among the 11 funds we follow that invest in convertible bonds, 8 charge a lower management fee and 8 charge less in total, at their last yearly reports. Both numbers are measured against the fund's own money, not the money it borrows on top, so a fund that borrows more shows higher costs on both counts.
• The fund's own cost example: $1,000 invested costs about $40 in the first year and about $422 over 10 years, assuming the holdings return 5% a year. As of Oct 31, 2025, from the fund's annual report. Original document →
• Payouts: last fiscal year (ended Oct 31, 2025) the fund paid $1.14 a share. $0.76 of that was income; $0.38 came from gains. Most funds announce their monthly or quarterly payout on their own website, not in a filing with the regulator, so a cut or a raise there does not show up here until the next yearly report. A few funds do file a notice about a fixed payout; those appear under What happened, and when. As of Oct 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Oct 31, 2025): $11.78. The shares traded at $11.72, about 0.5% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap (a "discount" when the price is below the value) ranged from 3.2% below to 19.6% above. As of Oct 31, 2025, from the fund's annual report. Original document →
• How the holdings did: up 4.1% over the last three months we have (May-July 2026), before the share price is taken into account. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• First reported to the regulator in 2003.

How this has changed

• Payouts per share: $1.14 in the fiscal year ended Oct 31, 2025; $1.14 in the year ended Oct 31, 2024; $1.14 in the year ended Oct 31, 2023.As of Oct 31, 2025, from the fund's annual report. Original document →
• Of that, your own money back rather than income: none in the year ended Oct 31, 2025; $0.51 in the year ended Oct 31, 2024; none in the year ended Oct 31, 2023.As of Oct 31, 2025, from the fund's annual report. Original document →
• Costs, including interest on borrowed money: 3.98% a year in the fiscal year ended Oct 31, 2025; 4.52% a year in the year ended Oct 31, 2024; 4.4% a year in the year ended Oct 31, 2023.As of Oct 31, 2025, from the fund's annual report. Original document →
• Size of the holdings: about $942 million at Oct 31, 2025; $819 million at Oct 31, 2024; $725 million at Oct 31, 2023. From the fund's quarterly holdings reports. Original documents: Oct 31, 2025 →, Oct 31, 2024 →, Oct 31, 2023 →.
• Borrowing: about 37% on top of its own money at Oct 31, 2025; 39% at Oct 31, 2024; 40% at Oct 31, 2023. From the fund's quarterly holdings reports. Original documents: Oct 31, 2025 →, Oct 31, 2024 →, Oct 31, 2023 →.
• The fund had about 79.6 million shares at Oct 31, 2025, up 6.4% from Oct 31, 2023.As of Oct 31, 2025, from the fund's annual report. Original document →
  In between, the fund said it may sell new shares. Original document →

What these lines mean: a payout that is your own money back, what a fund costs, borrowing.

What a holder made

• The year ended Oct 31, 2025: the shares returned +11.2%, counting payouts; the holdings +23.5%. The holdings figure is what the fund's investments earned, before the share price is taken into account. As of Oct 31, 2025, from the fund's annual report. Original document →
• The year ended Oct 31, 2024: the shares returned +27.3%, counting payouts; the holdings +24.3%. As of Oct 31, 2024, from the fund's annual report. Original document →
• The year ended Oct 31, 2023: the shares returned +3.3%, counting payouts; the holdings -2.3%. As of Oct 31, 2023, from the fund's annual report. Original document →
• The year ended Oct 31, 2022: the shares returned -25.1%, counting payouts; the holdings -27.3%. As of Oct 31, 2022, from the fund's annual report. Original document →
• The year ended Oct 31, 2021: the shares returned +56.6%, counting payouts; the holdings +33.2%. As of Oct 31, 2021, from the fund's annual report. Original document →
• Those five years together: the shares returned +71.5%. $10,000 of shares bought at the start (Nov 1, 2020) would have become about $17,100 by Oct 31, 2025, with every payout counted, before tax. As of Oct 31, 2025, from the fund's annual report. Original document →
• The holdings over the last twelve months we have, to July 31, 2026: +27.8%. The quarterly reports carry no share price, so this is the holdings alone. As of July 31, 2026, from the fund's quarterly holdings report. Original document →
• Of the 10 funds that invest in convertible bonds with a fiscal year ending within six months of this one, 4 reported a higher share return for that year and 5 a lower one. As of Oct 31, 2025, from the fund's annual report. Original document →
• A past year says nothing about the next one. All figures are the fund's own, from its reports to the regulator.

Why the shares and the holdings can differ: the gap between price and value. Why payouts count: a payout that is your own money back.

What the fund holds

Mostly bonds (80%), the rest preferred shares and loans. About 91% issued in the U.S.

1. Alphabet - 5.2%
2. Western Digital - 3%
3. Digital Realty Trust L.P. - 2.6%
4. Centerpoint Energy - 2.5%
5. Cloudflare - 2.4%
6. Boeing Co/The - 2.3%
7. Iren - 2.2%
8. Bank of America - 2.2%
9. Microchip Technology - 2.1%
10. Cyberark Software - 2.1%

As of July 31, 2026, from the fund's quarterly holdings report. Original document →