Cornerstone Advisors Fully Exits Calamos Strategic Total Return Fund
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
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Should l Buy CSQ?
Source: Fool
- Complete Exit: On May 8, 2026, Cornerstone Advisors reported selling its entire stake of 1,712,871 shares in the Calamos Strategic Total Return Fund for an estimated $32.11 million, indicating a potential loss of confidence in the fund's performance.
- Decline in Asset Value: The sale resulted in a $32.89 million decrease in the fund's quarter-end position value, highlighting the negative impact of market volatility on its investment portfolio, which may affect investor sentiment.
- Underperformance: Although the Calamos fund delivered a 23% gain over the past year, it lagged the S&P 500 by about seven percentage points, raising concerns about the justification for multi-asset funds in a momentum-driven market.
- High Leverage Risk: With total leverage exceeding 31% and approximately $1.09 billion in debt, the fund's 7.24% annual distribution rate may attract long-term investors, but the risks associated with closed-end funds in volatile markets warrant careful consideration.
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Analyst Views on CSQ
About CSQ
Calamos Strategic Total Return Fund (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total return through a combination of capital appreciation and current income. The Fund invests in a diversified portfolio of equities, convertible securities, and high yield securities. The Fund, under normal circumstances, will invest at least 50% of its managed assets in equity securities (including securities that are convertible into equity securities). The Fund may invest up to 35% of its managed assets in securities of foreign issuers, including debt and equity securities of corporate issuers, and debt securities of government issuers in developed and emerging markets. The Fund holds investments in various sectors, such as information technology, consumer discretionary, financials, healthcare, industrials, consumer staples, energy, airlines, utilities, materials, and real estate. Calamos Advisors LLC is its investment advisor.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Cornerstone Advisors Fully Exits Calamos Strategic Total Return Fund
- Complete Exit: On May 8, 2026, Cornerstone Advisors reported selling its entire stake of 1,712,871 shares in the Calamos Strategic Total Return Fund for an estimated $32.11 million, indicating a potential loss of confidence in the fund's performance.
- Decline in Asset Value: The sale resulted in a $32.89 million decrease in the fund's quarter-end position value, highlighting the negative impact of market volatility on its investment portfolio, which may affect investor sentiment.
- Underperformance: Although the Calamos fund delivered a 23% gain over the past year, it lagged the S&P 500 by about seven percentage points, raising concerns about the justification for multi-asset funds in a momentum-driven market.
- High Leverage Risk: With total leverage exceeding 31% and approximately $1.09 billion in debt, the fund's 7.24% annual distribution rate may attract long-term investors, but the risks associated with closed-end funds in volatile markets warrant careful consideration.
See More
Shaker Financial Sells 171,140 Shares of Calamos Fund
- Transaction Overview: On January 26, 2026, Shaker Financial disclosed in an SEC filing that it sold 171,140 shares of Calamos Strategic Total Return Fund, with an estimated trade value of $3.26 million, indicating poor performance of the fund in the fourth quarter.
- Asset Allocation Shift: Following this sale, CSQ represents 2.0% of Shaker Financial's 13F reportable assets, reflecting a relative decline in its significance within the investment portfolio.
- Performance Comparison: Although CSQ increased by 12.17% over the past year, its five-year total return of 77% significantly lags behind the S&P 500's 94%, highlighting its underperformance.
- Yield Analysis: As of January 26, 2026, CSQ's dividend yield stood at 6.45%, but despite this attractive yield, it has failed to capture investor interest, indicating market caution regarding its future performance.
See More
Shaker Financial Sells 171,140 Shares of Calamos Fund
- Transaction Overview: On January 26, 2026, Shaker Financial Services disclosed in an SEC filing the sale of 171,140 shares of Calamos Strategic Total Return Fund, valued at approximately $3.26 million, indicating a decline in the fund's asset value during the fourth quarter.
- Asset Allocation Shift: Following this sale, CSQ represents 2.0% of Shaker Financial's 13F reportable assets, reflecting a decrease in its relative importance within the investment portfolio.
- Fund Performance Analysis: Although CSQ has increased by 12.17% over the past year, it underperformed the S&P 500 by 0.85 percentage points, indicating a lack of competitiveness in the market.
- Long-Term Return Comparison: Over the past five years, CSQ generated a total return of 77% with a compound annual growth rate (CAGR) of 12.1%, significantly lagging behind the S&P 500's 94% total return and 14.2% CAGR, suggesting limited long-term investment appeal.
See More
Calamos Strategic Total Return Fund announces dividend of $0.1225
Dividend Declaration: Calamos Strategic Total Return Fund (CSQ) has declared a monthly dividend of $0.1225 per share.
Yield and Payment Details: The fund offers a forward yield of 7.77%, with the dividend payable on January 9 for shareholders of record on December 30, and the ex-dividend date also on December 30.
See More
Calamos Strategic Total Return Fund (CSQ) Raises Monthly Distribution by 19.5%
- Distribution Increase: Calamos Strategic Total Return Fund (CSQ) raises its monthly distribution from $0.1025 to $0.1225 per share, representing a 19.5% increase, which is set to be paid on January 9, 2026, enhancing investor yield attractiveness.
- Yield Improvement: The new distribution rate reflects an annualized yield of 7.28% based on the fund's net asset value of $20.18 per share as of December 17, 2025, providing investors with a more competitive return.
- Transparent Distribution Sources: The fund's distribution sources include short-term capital gains and investment income, ensuring investors have a clear understanding of the distribution structure, thereby boosting investor confidence.
- Positive Market Reaction: The increase in distribution may attract more investor attention to the fund, potentially enhancing its market price and liquidity, reflecting Calamos's commitment to sustained returns.
See More
Calamos Strategic Total Return Fund announces dividend of $0.1025
Dividend Declaration: Calamos Strategic Total Return Fund (CSQ) has declared a monthly dividend of $0.1025 per share.
Payment Details: The dividend is payable on December 19, with shareholders of record on December 12, and the ex-dividend date also on December 12.
Yield Information: The fund offers a forward yield of 6.5%.
Additional Resources: More information is available on CSQ's dividend scorecard, yield chart, and Q2 2025 commentary.
See More
Cornerstone Advisors Fully Exits Calamos Strategic Total Return Fund
- Complete Exit: On May 8, 2026, Cornerstone Advisors reported selling its entire stake of 1,712,871 shares in the Calamos Strategic Total Return Fund for an estimated $32.11 million, indicating a potential loss of confidence in the fund's performance.
- Decline in Asset Value: The sale resulted in a $32.89 million decrease in the fund's quarter-end position value, highlighting the negative impact of market volatility on its investment portfolio, which may affect investor sentiment.
- Underperformance: Although the Calamos fund delivered a 23% gain over the past year, it lagged the S&P 500 by about seven percentage points, raising concerns about the justification for multi-asset funds in a momentum-driven market.
- High Leverage Risk: With total leverage exceeding 31% and approximately $1.09 billion in debt, the fund's 7.24% annual distribution rate may attract long-term investors, but the risks associated with closed-end funds in volatile markets warrant careful consideration.
See More
Shaker Financial Sells 171,140 Shares of Calamos Fund
- Transaction Overview: On January 26, 2026, Shaker Financial disclosed in an SEC filing that it sold 171,140 shares of Calamos Strategic Total Return Fund, with an estimated trade value of $3.26 million, indicating poor performance of the fund in the fourth quarter.
- Asset Allocation Shift: Following this sale, CSQ represents 2.0% of Shaker Financial's 13F reportable assets, reflecting a relative decline in its significance within the investment portfolio.
- Performance Comparison: Although CSQ increased by 12.17% over the past year, its five-year total return of 77% significantly lags behind the S&P 500's 94%, highlighting its underperformance.
- Yield Analysis: As of January 26, 2026, CSQ's dividend yield stood at 6.45%, but despite this attractive yield, it has failed to capture investor interest, indicating market caution regarding its future performance.
See More
Shaker Financial Sells 171,140 Shares of Calamos Fund
- Transaction Overview: On January 26, 2026, Shaker Financial Services disclosed in an SEC filing the sale of 171,140 shares of Calamos Strategic Total Return Fund, valued at approximately $3.26 million, indicating a decline in the fund's asset value during the fourth quarter.
- Asset Allocation Shift: Following this sale, CSQ represents 2.0% of Shaker Financial's 13F reportable assets, reflecting a decrease in its relative importance within the investment portfolio.
- Fund Performance Analysis: Although CSQ has increased by 12.17% over the past year, it underperformed the S&P 500 by 0.85 percentage points, indicating a lack of competitiveness in the market.
- Long-Term Return Comparison: Over the past five years, CSQ generated a total return of 77% with a compound annual growth rate (CAGR) of 12.1%, significantly lagging behind the S&P 500's 94% total return and 14.2% CAGR, suggesting limited long-term investment appeal.
See More
Calamos Strategic Total Return Fund announces dividend of $0.1225
Dividend Declaration: Calamos Strategic Total Return Fund (CSQ) has declared a monthly dividend of $0.1225 per share.
Yield and Payment Details: The fund offers a forward yield of 7.77%, with the dividend payable on January 9 for shareholders of record on December 30, and the ex-dividend date also on December 30.
See More
Calamos Strategic Total Return Fund (CSQ) Raises Monthly Distribution by 19.5%
- Distribution Increase: Calamos Strategic Total Return Fund (CSQ) raises its monthly distribution from $0.1025 to $0.1225 per share, representing a 19.5% increase, which is set to be paid on January 9, 2026, enhancing investor yield attractiveness.
- Yield Improvement: The new distribution rate reflects an annualized yield of 7.28% based on the fund's net asset value of $20.18 per share as of December 17, 2025, providing investors with a more competitive return.
- Transparent Distribution Sources: The fund's distribution sources include short-term capital gains and investment income, ensuring investors have a clear understanding of the distribution structure, thereby boosting investor confidence.
- Positive Market Reaction: The increase in distribution may attract more investor attention to the fund, potentially enhancing its market price and liquidity, reflecting Calamos's commitment to sustained returns.
See More
Calamos Strategic Total Return Fund announces dividend of $0.1025
Dividend Declaration: Calamos Strategic Total Return Fund (CSQ) has declared a monthly dividend of $0.1025 per share.
Payment Details: The dividend is payable on December 19, with shareholders of record on December 12, and the ex-dividend date also on December 12.
Yield Information: The fund offers a forward yield of 6.5%.
Additional Resources: More information is available on CSQ's dividend scorecard, yield chart, and Q2 2025 commentary.
See More
