For the quarter ended March 31, 2026, Calamos Growth Fund returned -9.00% (Class I shares at NAV) compared with the S&P 1500 Growth Index return of -7.28%.
The fund benefited from security selection and an average overweight position in consumer staples, where holdings in merchandise retail and packaged foods & meats added to relative returns.
Security selection within the health care sector weakened returns. In particular, positions in the biotechnology and the pharmaceuticals industries lagged.
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Summary
Despite the geopolitical headwinds, the backdrop for US growth equities and the US economy remains strong overall.
Although we take the risk of prolonged disruption and stagflation seriously, our base case is that the
