Strategy Objective

We use an active, fundamental, bottom-up security selection process when researching stocks for our small and mid-cap growth portfolio. Utilizing Timpani's research-intensive approach, the investment team expects to add value primarily through security selection (approximately 90%) with the remainder coming from sector allocation.

Key Differentiators

  • One cohesive and consistent investment team since inception
  • Time-tested process that works in most investing environments
  • Objective, disciplined approach minimizes biases and results in efficient decision-making
  • Value-added sell discipline seeks to provide downside protection

Strategy Details

As of 3/31/22
Inception Date: 3/01/15
Strategy Assets*: $162.7 M
Benchmark: Russell 2500 Growth Index

*Strategy Assets reflect all assets that are currently being managed (collectively) under the strategy, which may contain multiple performance composites.

Portfolio

Sector Weightings

As of 3/31/22
Sector % of Assets Russell 2500 Growth Index Under/Overweight %
Information Technology 28.0% 28.8%
Industrials 15.7% 15.1%
Consumer Discretionary 15.6% 14.5%
Health Care 15.0% 21.0%
Energy 9.9% 2.9%
Financials 9.6% 5.8%
Materials 2.9% 3.4%
Communication Services 2.3% 2.3%
Consumer Staples 0.9% 2.8%
Real Estate 0.0% 3.0%
Utilities 0.0% 0.4%
Other 0.0% 0.0%

Representative Portfolio Ten Largest Holdings

As of 3/31/22
Company Sector %
SiTime Corp. Information Technology 3.3
Lithia Motors, Inc. - Class A Consumer Discretionary 3.0
Lpl Financial Holdings, Inc. Financials 3.0
Patterson-UTI Energy, Inc. Energy 2.7
Generac Holdings, Inc. Industrials 2.4
Paylocity Holding Corp. Information Technology 2.4
Axon Enterprise, Inc. Industrials 2.3
Sprout Social, Inc. Information Technology 2.3
Planet Fitness, Inc. - Class A Consumer Discretionary 2.2
Brown & Brown, Inc. Financials 2.2

Characteristics

As of 3/31/22
Name Calamos Portfolio Russell 2500 Growth Index
Number of Holdings 100 1,464
Portfolio Turnover (12 months) 182.6% N/A
Median Market Cap $4.8 B $1.5 B
Weighted Avg. Market Cap $7.8 B $7.4 B

Performance

Annualized Total Returns

As of 3/31/22
Name 1-Year 3-Year 5-Year Since Inception (3/15)
Timpani SMID Growth (Gross) -13.78% 15.57% 17.24% 12.62%
Timpani SMID Growth (Net) -14.60% 14.48% 16.11% 11.53%
Russell 2500 Growth Index -10.12% 12.99% 13.22% 10.64%

Calendar Year Returns

As of 3/31/22
Name Qtr ending Mar 22 YTD 2022 2021 2020 2019 2018 2017 2016 3/1/15 - 12/31/15
Timpani SMID Growth (Gross) -16.14% -16.14% 9.05% 60.59% 23.80% -2.74% 37.45% 1.93% -6.23%
Timpani SMID Growth (Net) -16.35% -16.35% 8.03% 59.13% 22.60% -3.71% 36.12% 0.91% -7.01%
Russell 2500 Growth Index -12.30% -12.30% 5.04% 40.47% 32.65% -7.47% 24.45% 9.73% -5.57%

Past performance does not guarantee or indicate future results. Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown.

Returns and Risk/Reward statistics presented reflect the Calamos Timpani SMID Growth Composite, which is an actively managed Composite investing in common stocks of small and mid- market capitalization companies with sound growth potential. The Composite was created March 1, 2015, and calculated with an inception date of March 1, 2015. Results include all fully discretionary accounts, including those no longer with the Firm. On May 31, 2019, Calamos acquired Timpani Capital Management LLC, which has managed the strategy since its inception in 2015. All returns are net of commission and other similar fees charged on securities transactions and include reinvestment of net realized gains and interest.

Unmanaged index returns, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

The Russell 2500® Growth Index measures the performance of the small to midcap growth segment of the US equity universe. It includes those Russell 2500 companies with higher growth earning potential. The Russell 2500 Growth Index is published and maintained by FTSE Russell.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Calamos Advisors LLC.

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.

Risk/Reward

Since Inception Up/Down Capture Vs. Russell 2500 Growth Index

As of 3/31/22

Risk/Reward Since Inception

As of 3/31/22
Name Calamos Timpani SMID Growth Composite Russell 2500 Growth Index
Alpha 1.95% N/A
Beta 1.02 1.00
Annualized Standard Deviation 20.82% 19.13%
Upside Semivariance 21.18% 17.58%
Downside Semivariance 15.91% 13.55%
Sharpe Ratio 0.57 0.51
Information Ratio 0.27 N/A
Sortino Ratio 0.85 0.76

Vehicles & Minimums

Vehicles and Minimums

Vehicle Minimum Availability
Separately Managed Accounts $5 million Available to new investors
Institutional Mutual Fund (CTIGX) $1 million These investment offerings are intended for investors inside the United States.