Fund Stats

  • NAV

    $32.03

    $0.09 (0.28%)

    As of 3/27/24

  • Daily YTD Return

    19.34%

    As of 3/27/24

  • Total Net Assets

    $260.1 Million

    As of 12/31/23

  • Inception Date

    6/3/19

Calamos Timpani Small Cap Growth Mutual Fund Overview

The fund invests in the equity securities of small capitalization companies with high, sustainable growth potential, which may exceed market expectations.

Key Features

  • Combines fundamental research with the analysis of market estimates to identify the underestimated growth differential
  • Analyzes secular trends to uncover exploitable investments specific to small cap companies.

Portfolio Fit

Investing in small cap companies is an important component of a diversified investment strategy. Smaller companies tend to experience greater growth and outperform larger companies.

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Performance

Calendar Year Total Returns

As of 12/31/23
Date Calamos Timpani Small Cap Growth Fund (NAV) Russell 2000 Growth Index
2023 7.7 18.66
2022 -37.24 -26.36
2021 9.21 2.83
2020 63.42 34.63
2019* 5.26 0

*Reflects the fund's return from the inception date of 6/3/2019 through 12/31/2019.

Annualized Total Returns

As of 12/31/23 As of 2/29/24
TimeFrame Calamos Timpani Small Cap Growth Fund (NAV) Russell 2000 Growth Index
1 Year 7.7 18.66
3 Year -9.62 -3.5
Since Inception (06/03/19) 5.35 7.46
TimeFrame Calamos Timpani Small Cap Growth Fund (NAV) Russell 2000 Growth Index
1 Year 19.51 14.18
3 Year -9.87 -4.59
Since Inception (06/03/19) 8.22 8.22

Important Fund Information

The chart shows the performance of the Predecessor Fund's Institutional Class, which has been adopted by the Class I shares of the Fund for periods prior to the Reorganization. The information shows you how the Predecessor Fund's performance has varied year by year and provides some indication of the risks of investing in the Fund. The average annual total return table compares the Predecessor Fund's Institutional Class performance, adopted by the Fund's Class I shares, and Class Y performance, adopted by the Fund's Class A shares and adjusted to reflect the maximum sales load of 4.75%, to that of the Russell 2000 Growth Index. "Since Inception" return shown for the Russell 2000 Growth Index is the return since the inception of the Predecessor Fund's Class Y shares. An index reflects no deduction for fees, expenses or taxes. To the extent that dividends and distributions have been paid by the Predecessor Fund, the performance information for the Predecessor Fund in the chart and table assumes reinvestment of dividends and distributions. If the Predecessor Fund's investment adviser had not waived or reimbursed certain Predecessor Fund expenses during these periods, the Predecessor Fund's returns would have been lower. As always, please note that the Fund's past performance (before and after taxes) cannot predict how it will perform in the future.

10k Performance results are before taxes on fund distributions and assume reinvestment of dividends and capital gains. Index data shown is from 6/30/19, since comparative index data is available only for full monthly periods. Source: Calamos Investments

Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans and by institutional clients, provided such plans or clients have assets of at least $1 million. For eligibility requirements and other available share classes see the prospectus and other Fund documents at www.calamos.com.

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.

Index and Morningstar category data shown reflects full month periods only. If share class inception date is on or before the 15th of the month, the index or category calculation inception date begins on the first day of that month. If share class inception date is after the 15th of the month, the index or category calculation inception date begins on the first day of the following month.

The Russell 2000® Growth Index measures the performance of the small-cap growth segment of the US equity universe. It includes those Russell 2000® companies with higher price-to-value ratios and higher forecasted growth values. The Russell 2000® Growth Index is published and maintained by FTSE Russell.

Unmanaged index returns, 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.

The funds' gross expense ratios as of the prospectus dated 3/1/2024 are as follows: A Shares 1.37%, C Shares 2.12%, I Shares 1.12% and R6 Shares 0.99%.

Portfolio

Fund Facts

As of 12/31/23
Name Fund Russell 2000 Growth Index
Net Assets $260.1 M N/A
Number of Holdings 96 1,072
Debt/Capital 34.5% 40.9%
ROIC 18.9% 12.2%
Price/Earnings 28.4x 19.7x
Price/Sales 2.7x 1.8x

Market Capitalization

As of 12/31/23
Market CAP Range % of Assets
<=$1bil 12.6%
>$1bil<=$2bil 14.4%
>$2bil<=$3bil 17.4%
>$3bil<=$7bil 30.3%
>$7bil 25.2%

Sector Weightings

As of 12/31/23
Sector % of Assets Russell 2000 Growth Index
Information Technology 29.4% 21.7%
Industrials 25.1% 20.1%
Health Care 23.9% 22.4%
Consumer Discretionary 10.2% 11.1%
Consumer Staples 3.3% 4.4%
Financials 3.2% 6.4%
Energy 1.6% 4.5%
Communication Services 1.3% 2.2%
Materials 0.8% 4.2%
Real Estate 0.7% 1.7%
Utilities 0.0% 1.5%
Other 0.0% 0.0%

Top 10 Holdings

As of 12/31/23
Company Industry %
FTAI Aviation, Ltd. Trading Companies & Distributors 3.2%
RxSight, Inc. Health Care Supplies 2.8%
Sterling Infrastructure, Inc. Construction & Engineering 2.8%
Modine Manufacturing Company Auto Parts & Equipment 2.5%
Tecnoglass, Inc. Building Products 2.5%
Super Micro Computer, Inc. Technology Hardware, Storage & Peripherals 2.5%
CECO Environmental Corp. Environmental & Facilities Services 2.4%
Vertiv Holdings Company Electrical Components & Equipment 2.2%
Onto Innovation, Inc. Semiconductor Equipment 2.1%
Axon Enterprise, Inc. Aerospace & Defense 2.0%
Total 25.0%

Distributions

Total Capital Gains

Schedule: ANNUAL
Year Capital Gains
2020 1.3706
2021 0.0000
2022 0.0000
2023 0.0000

Schedule

Name Frequency
Distributions ANNUAL
Capital Gains ANNUAL

2023 Capital Gains
Capital gains for Calamos Mutual Funds were declared on December 21, 2023. To view the report, click here.

Distributions

Schedule: ANNUAL
Most Recent Distributions
Frequency Income Reinvest
Q4 2023 $0.0000 26.78000
Q4 2022 $0.0000 25.25000
Q4 2021 $0.0000 36.72000
Q4 2020 $0.0000 0.00000

Fees & Expenses

Annual Expenses

Name A Shares C Shares I Shares R6 Shares
Gross Expense Ratio 1.37% 2.12% 1.12% 0.99%
Net Expense Ratio 1.30% 2.05% 1.05% 0.92%

Investment Information

Name A Shares C Shares I Shares R6 Shares
Minimum initial investment $2500 $2500 $1 million $0
Minimum subsequent investments $50 $50 N/A N/A
IRA initial investments $500 $500 N/A N/A

Fund Information

Name A Shares C Shares I Shares R6 Shares
Inception Date 1/06/14 6/25/21 3/23/11 6/03/19
Ticker Symbol CTASX CTCSX CTSIX CTSOX
CUSIP number 128120417 128120318 128120391 128120383

Sales & Distribution

Name A Shares C Shares I Shares R6 Shares
Sales Load Front-End Level-Load N/A N/A
Maximum Sales Charge 4.75 1.00 N/A N/A
US Bank Fund Number 5650 5672 5651 5652
Dividends ANNUAL ANNUAL ANNUAL ANNUAL
Capital Gains ANNUAL ANNUAL ANNUAL ANNUAL

The Fund's investment advisor has contractually agreed to reimburse Fund expenses through March 1, 2025 to the extent necessary so that Total Annual Fund Operating Expenses of Class A shares, Class C and Class I shares are limited to 1.30%, 2.05% and 1.05% of average net assets, respectively. The Fund's investment advisor has contractually agreed to limit the Fund's annual ordinary operating expenses through March 1, 2025 for Class R6 shares (as a percentage of average net assets) to 1.05% less the Fund's annual sub-transfer agency ratio (the aggregate sub-transfer agency fees of the Fund's other share classes divided by the aggregate average annual net assets of the Fund's other share classes). For purposes of these expense limitations, operating expenses do not include taxes, interest, short interest, short dividend expenses, brokerage commissions, acquired fund fees and expenses, and extraordinary expenses, if any. Calamos Advisors LLC ("Calamos Advisors") may recapture previously waived expense amounts within the same fiscal year for any day where the respective share class's expense ratio falls below the contractual expense limit up to the expense limit for that day. This undertaking is binding on Calamos Advisors and any of its successors and assigns. This agreement is not terminable by either party.

Literature

Latest Related Blog Posts

Videos

About the Fund

Calamos Timpani Small Cap Growth Fund Quarterly Commentary

A quarterly update of the Calamos Timpani Small Cap Growth Fund’s performance, positioning, related market commentary and outlook.

Calamos Timpani Small Cap Growth Fund Fact Sheet

The Timpani Small Cap Growth Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.

Pursuing the Disproportionate Reward of Small Cap Growth Stocks

Pursue the Disproportionate Reward of Small Cap Growth Stocks with Brandon M. Nelson, founder of Timpani Capital Management, the small cap growth investment management firm acquired by Calamos in May 2019.

Prospectus and Reports

Calamos Timpani Small Cap Growth Fund Prospectus

This summary contains important information about the Class A, I, and R6 Timpani Small Cap Growth Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.

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.

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.

Calamos Timpani Small Cap Growth Fund Prospectus (C Share)

This summary contains important information about the Class C Timpani Small Cap Growth Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.

Statutory Prospectus (C Share)

You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.

SAI (C Share)

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.

Semi-Annual Report

The semi-annual 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.

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.

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

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 1-866-363-9219. Read it carefully before investing.

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Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

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