CPZ - Calamos Long/Short Equity & Dynamic Income Trust

What this means for you

Sit Investment owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. April 6, 2026

   Sit Investment sold down below 5% and stopped reporting.

   Original document →

2. Jan 3, 2025

   Sit Investment now owns 5.1%, as a passive investor.

   Original document →

3. Dec 6, 2024

   Saba sold down below 5% and stopped reporting.

   Original document →

4. March 18, 2024

   Saba now owns 5.1%. It has said it may push for changes.

   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 $299 million of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 50% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.8% a year in management fees; 4.4% 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 →
• 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. 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): $16.64. The shares traded at $15.12, about 9.1% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
  Over the last two years the gap ranged from 17.9% below to 0% above. As of Oct 31, 2023, from the fund's annual report. Original document →
• How the holdings did: down 5% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +0.6%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Oct 31, 2025): the value of the holdings returned +23.5%. How the share price did: the shares returned +11.2% over the same year, counting payouts and the change in the market price. As of Oct 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2017.

What the fund holds

Mostly shares (61%), the rest bonds, loans and preferred shares. About 86% issued in the U.S.

The fund also sells options on its holdings to raise income.

1. Broadcom - 4.5%
2. Nvidia - 4.3%
3. Boeing Co/The - 3.9%
4. United Airlines Holdings - 3.5%
5. Wells Fargo & - 3.3%
6. Union Pacific - 3.2%
7. DR Horton - 3%
8. L3Harris Technologies - 2.9%
9. Infineon Technologies AG - 2.9%
10. DoorDash - 2.7%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →