For the quarter ending March 31, 2026, the Calamos Global Opportunities Strategy reported a gross return of 0.33% and a net return of 0.17%, significantly outperforming the MSCI ACWI Index, which declined by 3.11%. The strategy's performance was enhanced by effective security selection and a strategic underweight in the information technology sector. However, security selections within the financials sector, particularly in diversified banks and investment banking, negatively impacted relative results. The strategy has shifted to moderate financials exposure while increasing investments in sectors that are less vulnerable to macroeconomic shocks, such as optical networking, robotics, and space. These investments are aligned with secular growth themes and focus on companies with direct revenue exposure to emerging trends. Overall, the portfolio's adjustments and security selection have positioned it favorably against broader market trends.