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Growth Fund (CVGRX)

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Fund Details

As of 12/10/18
Inception Date:
9/04/90
Current NAV:
$32.07
$ Change:
$0.17
% Change:
0.53%
Net Assets*
1.6 bil
(*Total Net Assets as of 9/30/18)

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Overview

The fund invests in the equities of U.S. companies with a range of market capitalizations that we believe offer the best potential for growth.

Key Features

  • Utilize more than two decades of extensive research experience in growth investing
  • Active management focuses on top-down views and bottom-up fundamentals
  • Research-driven approach identifies opportunities by combining top-down analysis with a focus on key growth characteristics

Portfolio Fit

This actively-managed fund seeks to provide attractive returns through its emphasis on higher growth companies primarily in large and mid cap arenas.

Return on Invested Capital

AS OF 9/30/18

Debt/Capital

AS OF 9/30/18

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.

The principal risks of investing in the Calamos Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

NOTES

Debt/Capital Ratio-Is a measure of a company s financial leverage, calculated as the company’s debt divided by its total capital.

ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company’s net income minus any dividends divided by the company’s total capital.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Calendar Year Total Returns

AS OF 9/30/18

Growth of 10K

Annualized Total Returns

AS OF 9/30/18
Calamos (NAV)9.32%18.99%12.93%11.36%10.36%8.28%12.08%13.01%
(Load-Adjusted)4.14%13.34%11.11%10.28%9.82%7.92%11.80%12.82%
Russell Midcap10.97%21.10%16.65%13.00%13.46%11.10%9.41%11.25%
Russell 300015.28%25.89%20.36%16.23%14.18%10.67%7.33%10.26%

The Fund's Gross Expense Ratio is 1.40% as of the prospectus dated 3/01/18

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

10k Performance is for the Fund’s Class A shares at net asset value and does not include the Fund’s maximum front-end sales charge of 4.75%—had it been included, the Fund’s return would have been lower. Index data shown is from 8/31/90, since comparative index data is available only for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

Russell Midcap® Growth Index-Measures the performance of those Russell Midcap companies whose average market capitalization is approximately $4.2 billion, with higher price-to-book ratios and higher growth values.

Russell 3000 Growth Index-Measures the performance of the broad growth segment of the U.S. equity universe. It includes those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions. Performance shown reflects an expense reimbursement that improved results. Load-adjusted returns are adjusted for the maximum front-end sales load of 2.25%* for Class A shares in the following funds: Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, High Income Opportunities Fund, and Total Return Bond Fund. The maximum front-end sales load for Class A shares of all other funds is 4.75%. There is a 1% contingent deferred sales charge for C shares on certain redemptions within the first year of purchase. Class C shares have been adjusted for the contingent deferred sales charge (CDSC). There are no contingent deferred sales charges or distribution or service fees with respect to Class I shares. The minimum initial investment required to purchase each Fund's Class I shares is $1 million. Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans (including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans, defined benefit plans and non-qualified deferred compensation plans) and by institutional clients, provided such plans or clients have assets of at least $1 million. Class I shares may also be offered to certain other entities or programs, including, but not limited to, investment companies, under certain circumstances. *Prior to 2/28/17, the Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, and High Income Opportunities fund had a maximum front-end sales load of 4.75%, and the Total Return Bond Fund had a maximum front-end sales load of 3.75%.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Sector Weightings

AS OF 9/30/18
% of Assets Russell 3000 Growth Index
Information Technology 35.7% 40.2%
Consumer Discretionary 17.6% 17.8%
Financials 12.6% 4.4%
Health Care 12.4% 14.8%
Industrials 12.2% 12.4%
Materials 3.8% 1.8%
Consumer Staples 1.8% 5.2%
Energy 0.8% 1.0%
Utilities 0.0% 0.0%
Telecom Services 0.0% 0.2%
Real Estate 0.0% 2.0%

Asset Allocation

AS OF 9/30/18

Top 10 Holdings

Adobe Logo View All Holdings AS OF 9/30/18
Company Security Type Industry
%
Apple, Inc. Common Stocks Technology Hardware, Storage & Peripherals 6.6%
Alphabet, Inc. - Class A Common Stocks Internet Software & Services 5.9%
Facebook, Inc. - Class A Common Stocks Internet Software & Services 5.3%
Microsoft Corp. Common Stocks Systems Software 4.7%
Amazon.com, Inc. Common Stocks Internet & Direct Marketing Retail 4.4%
Visa, Inc. - Class A Common Stocks Data Processing & Outsourced Services 2.5%
Baxter International, Inc. Common Stocks Health Care Equipment 2.4%
Delta Air Lines, Inc. Common Stocks Airlines 2.2%
Johnson & Johnson Common Stocks Pharmaceuticals 2.2%
Alexion Pharmaceuticals, Inc. Common Stocks Biotechnology 1.8%
Total 38.0%

Fund Facts

AS OF 9/30/18
Fund Russell 3000 Growth Index
Total Net Assets $1.6 billion --
# of Holdings 159 1,785
Price/Book 3.9x 7.6x
Price/Earnings 21.0x 24.9x
Price/Sales 2.9x 3.0x
PEG Ratio 1.6x 1.8x
Debt/Capital 38.0% 44.2%
ROIC 23.3% 26.8%
Portfolio Turnover (12 months) 71.7% --

Market Capitalization

AS OF 9/30/18
Market %
> $112bil 47.1%
$32bil - $112bil 25.1%
$11bil - $32bil 17.4%
$4bil - $11bil 7.9%
< $4bil 2.5%

Top Currency Exposures

AS OF 9/30/18
Currency%
United States Dollar (USD) 98.7%
Euro (EUR) 1.3%
Canadian Dollar (CAD) 0.0%

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Top 10 Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government / sovereign bonds or broad based index hedging securities the portfolio may hold.

Holdings and weightings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/book ratio-is the stock’s capitalization divided by its book value.

Price/earnings ratio-is the current stock price over trailing 12-month earnings per share.

Price/sales ratio-is a stock’s capitalization divided by its sales over the trailing 12 months.

Russell 3000 Growth Index-Measures the performance of the broad growth segment of the U.S. equity universe. It includes those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Total Capital Gains

  
20174.4658
20161.2028
201510.9405
201410.1314
201315.2925
20123.7276
20112.1501
20100.0000
20090.0000
20080.0000

Schedule

   
Distributions Annually
Capital Gains Annually

Distributions

Choose a year  
Income Total Reinvest
4Q 2017 0.00000 0.00000 32.34000
4Q 2016 0.00000 0.00000 29.58000
4Q 2015 0.00000 0.00000 30.96000
4Q 2014 0.00000 0.00000 40.74000
1Q 2014 0.00000 0.00000 0.00000
4Q 2013 0.00000 0.00000 45.87000
3Q 2013 0.00000 0.00000 0.00000
2Q 2013 0.00000 0.00000 0.00000
1Q 2013 0.00000 0.00000 0.00000
4Q 2012 0.00000 0.00000 47.65000
3Q 2012 0.00000 0.00000 0.00000
2Q 2012 0.00000 0.00000 0.00000
1Q 2012 0.00000 0.00000 0.00000
4Q 2011 0.00000 0.00000 46.40000
3Q 2011 0.00000 0.00000 0.00000
2Q 2011 0.00000 0.00000 0.00000
1Q 2011 0.00000 0.00000 0.00000
4Q 2010 0.00000 0.00000 0.00000
3Q 2010 0.00000 0.00000 0.00000
2Q 2010 0.00000 0.00000 0.00000
1Q 2010 0.00000 0.00000 0.00000
4Q 2009 0.00000 0.00000 0.00000
3Q 2009 0.00000 0.00000 0.00000
2Q 2009 0.00000 0.00000 0.00000
1Q 2009 0.00000 0.00000 0.00000
4Q 2008 0.00000 0.00000 0.00000
3Q 2008 0.00000 0.00000 0.00000
2Q 2008 0.00000 0.00000 0.00000
1Q 2008 0.00000 0.00000 0.00000
Adobe Logo Most Recent Distributions

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Annual Expenses

A Shares C Shares I Shares
Total Expense Ratio1.402.151.15
Net Expense Ratio1.402.151.15
Transaction Fee0.000.000.00
Redemption Fee0.000.000.00

Investment Information

A Shares C Shares I Shares
Minimum initial investment$2,500$2,500$1 million
Minimum subsequent investments$50$50$0
IRA initial investments$500$500N/A

Fund Information

A Shares C Shares I Shares
Inception Date9/04/909/03/969/18/97
Ticker SymbolCVGRXCVGCXCGRIX
CUSIP number128119302128119856128119807

Sales & Distribution

A Shares C Shares I Shares
Sales loadFront-endLevel-loadN/A
Maximum Sales Charge4.75%1.00%N/A
US Bank Fund Number606620630
DistributionsAnnual dividends; annual capital gains

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Growth Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, mid-sized company risk, foreign securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Calamos Growth Fund Quarterly Commentary A quarterly update of the Calamos Growth Fund’s performance, positioning, related market commentary and outlook.
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Calamos Growth Fund Fact Sheet The Growth Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
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Calamos Growth Fund Prospectus This summary contains important information about the Class A, C, and I Growth Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.
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Statutory Prospectus You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.
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SAI The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.
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Semi Annual Report The semiannual report includes a letter from John P. Calamos, Sr. to shareholders and provides a comprehensive review of the fund’s activities and financial performance over a six month period.
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Annual Report The annual report includes a letter from John P. Calamos, Sr. to shareholders outlining the fund's performance, as well as a comprehensive review of the fund’s activities and financial performance.
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