Calamos Aksia Private Equity & Alternatives Fund
Data through 2026-06-30 · latest filing N-CSR filed 2026-09-03
Sponsored by Calamos and Aksia. Interval Fund structure focused on private equity.
Interval FundPrivate Equity
- Net assets
- $431.3M
source
Shareholder report (Form N-CSR) · filed 2026-09-03 · period 2026-06-30
Statement of Assets and Liabilities fund-level identity (Total assets - Total liabilities [- Preferred Shares] = Net Assets; no per-class breakdown template matched this filer agent)
“Consolidated Statement of Assets and Liabilities June 30, 2026 ASSETS Investments, at fair value (cost $349,447,560) $ 428,453,867 Cash 14,435,358 Options purchased, at value (premium $1,043,405) 1,984,632 Receivables: Fund shares sold 1,192,290 Interest 30,932 Prepaid expenses 86,138 Total assets 446,183,217 LIABILITIES Options written, at value (premium $688,433) 1,420,404 Payables: Secured credit facility, net (Note 2) 9,880,412 Deferred tax liability (Note 2) 1,677,832 Due to Advisor 484,467 Equalization interest on subsequent close of Private Equity Investments (Note 2) 264,956 Commitment fees and interest on secured credit facility (Note 2) 171,354 Offering costs (Note 3) 51,974 Distribution fees (Note 3) 59 Other accounts payable and accrued liabilities 981,311 Total liabilities 14,932,769 Commitments and contingencies (Note 2) NET ASSETS $ 431,250,448”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-06-30 - NAV / share
- $12.01
source
Shareholder report (Form N-CSR) · filed 2026-09-03 · period 2026-06-30
S1_class_sectioned_row_labelled — class Class I; column FOR THE YEAR ENDED JUNE 30, 2026; net asset value, end of period
“Net asset value, end of year (3) $12”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Class I · as of 2026-06-30 - Net flows, last qtr
- +7.5% qtr ended 2026-03-31
- Distribution coverage
- Not reported Private-equity distributions are episodic and realization-driven.
- Leverage in use
- Not yet compiled Not yet compiled
- Total return, 12m
- +20.24% SEC-filed fiscal year return 2025-07-01 to 2026-06-30 · Class I · SEC source 0001104659-26-105002
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
A fee waiver since June 30, 2025; it expires June 30, 2026.
A fee waiver since June 30, 2025; it expires June 30, 2026.
Why it matters and what changed
A dated fee waiver is now within six months of expiry. If it is not extended, the expense increase lands on shareholders; extensions are usually disclosed via a short 8-K or prospectus supplement, so silence approaching the date is itself information.
First occurrence; no comparative values apply to this rule type.
Source: https://www.sec.gov/Archives/edgar/data/2047442/000110465925063713/tm2427768d6_424b3.htm | Investment Management Fee, p9 and p54; the separate sub advisory fee waiver of 0.25% is between the Advisor and the Sub-Advisor and does not change what the Fund pays
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance history
| Window | Class | Basis | Return | Source |
|---|---|---|---|---|
| 2025-07-01 to 2026-06-30 | Class I | basis not stated in the filed row | +20.24% | SEC source 0001104659-26-105002 |
| 2025-07-01 to 2025-12-31 | Class I | basis not stated in the filed row | +10.53% | SEC source 0001104659-26-023264 |
| 2025-07-01 to 2025-09-30 | Class I | basis not stated in the filed row | +6.30% | SEC source 0001104659-25-118086 |
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
| Date | Position change |
|---|---|
| 2026-03-31 | New position CHARLESBANK EQUITY FUND IX, LP: 1.3% of portfolio value ($4,568,682) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position EINSTEIN 2026, L.P.: 1.9% of portfolio value ($6,867,717) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position GENNX360 CAPITAL PART IV, L.P.: 1.2% of portfolio value ($4,202,424) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position OEP IX BROWN ROOT CO INV,L.P: 2.0% of portfolio value ($6,874,876) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position SPRINGCOAST PARTNERS I A LP: 2.0% of portfolio value ($6,916,868) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position STELLEX JADE CO INVEST LP: 1.7% of portfolio value ($5,937,829) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2026-03-31 | New position VERITAS CAPITAL FUND VII, L.P.: 5.7% of portfolio value ($20,077,085) as of 2026-03-31; absent from the 2025-12-31 report. |
| 2025-12-31 | LH EQUITY INVESTORS, L.P. was marked up 41% between the September 30, 2025 and December 31, 2025 reports ($5,801,380 to $8,197,284) with par unchanged: a valuation mark, not a sale. |
| 2025-12-31 | New position GEN ATLANTIC INV PART 2017: 4.1% of portfolio value ($13,021,092) as of 2025-12-31; absent from the 2025-09-30 report. |
| 2025-12-31 | New position GEN ATLANTIC INV PART 2021: 1.7% of portfolio value ($5,382,059) as of 2025-12-31; absent from the 2025-09-30 report. |
| 2025-12-31 | New position GM SERVICES PARENT LLC: 2.5% of portfolio value ($8,142,857) as of 2025-12-31; absent from the 2025-09-30 report. |
| 2025-12-31 | New position GNX HBS HOLDINGS LLC: 2.2% of portfolio value ($7,000,000) as of 2025-12-31; absent from the 2025-09-30 report. |
Where exit demand met the cap.
Every one of the 1 disclosed periods was filled in full.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2025-09-16 | - | 100% | - | filled |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Not yet compiled
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Who can invest: No investor qualification is stated in the prospectus. Standard as printed in the N-2/A of 2025-06-25. N-2/A filed 2025-06-25.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class A | Sales-load class for transactional brokerage distribution. | 3.50% | 25 bps | $2,500 | - |
| Class C | Servicing-fee class for brokerage or platform distribution. | 0.00% | 100 bps | $2,500 | - |
| Class I | No-load, high-minimum class; terms indicate advisory or large-account access. | 0.00% | 0 bps | $1,000,000 | - |
| Class M | Servicing-fee class for brokerage or platform distribution. | 0.00% | 75 bps | $10,000 | - |
Management fee: 1.75% of average daily net assets per year, current as of 2025-04-30. Research only: not used in a fee distribution. SEC source 0001104659-25-063713.
Filed fee conditions
Pursuant to the investment advisory agreement, dated as of April 30, 2025 (the “Investment Advisory Agreement”), by and between the Fund and the Advisor, and in consideration of the advisory services provided by the Advisor to the Fund, the Advisor is entitled to an investment management fee (the “Investment Management Fee”) payable monthly in arrears and accrued daily based upon the Fund’s average daily net assets at an annual rate of 1.75%. See “Investment Management Fee.” In addition, pursuant to the sub-advisory agreement between the Advisor and the Sub-Advisor, the Advisor pays the Sub-Advisor a sub-advisory fee (the “Sub-Advisory Fee”) payable monthly in arrears and accrued daily based upon the Fund’s average daily net assets at an annual rate of 0.875%.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.75% | None
*
None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001104659-25-063713 |
0.00% | 0 bps | - | - |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (5)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the investment advisory agreement, dated as of April 30, 2025 (the “Investment Advisory Agreement”), by and between the Fund and the Advisor, and in consideration of the advisory services provided by the Advisor to the Fund, the Advisor is entitled to an investment management fee (the “Investment Management Fee”) payable monthly in arrears and accrued daily based upon the Fund’s average daily net assets at an annual rate of 1.75%. See “Investment Management Fee.” In addition, pursuant to the sub-advisory agreement between the Advisor and the Sub-Advisor, the Advisor pays the Sub-Advisor a sub-advisory fee (the “Sub-Advisory Fee”) payable monthly in arrears and accrued daily based upon the Fund’s average daily net assets at an annual rate of 0.875%. | 1.75 pct annual of average daily net assets | 2025-04-30 |
| expense_limitation | The Advisor, the Sub-Advisor and the Fund have entered into the Expense Limitation Agreement under which the Advisor and Sub-Advisor have contractually agreed on a monthly basis to reimburse on a 50/50 basis between the Advisor and the Sub-Advisor the Fund's "Specified Expenses" in respect of each class of the Fund (each, a "Class") where "Specified Expenses" means all other expenses incurred in the business of the Fund and allocated to a Class, including the Fund's annual operating expenses, with the exception of (i) the Investment Management Fee (as defined herein), (ii) the Shareholder Servicing Fee (as defined herein), (iii) the Distribution Fee (as defined herein), (iv) certain costs associated with the acquisition, ongoing investment and disposition of the Fund's investments and unconsummated investments, including legal costs, professional fees, travel costs and brokerage costs, (v) acquired fund fees and expenses, (vi) dividend and interest payments (including any dividend payments, interest expenses, commitment fees, or other expenses related to any leverage incurred by the Fund), (vii) taxes and costs to reclaim foreign taxes, and (viii) extraordinary expenses (as determined in the discretion of the Advisor and Sub-Advisor), to the extent that such expenses exceed 0.35% of the average daily net assets of such Class (the "Expense Limitation"). If, while the Advisor is the investment advisor to the Fund and the Sub-Advisor is investment sub-advisor to the Fund, the Fund's estimated annualized Specified Expenses in respect of a Class for a given month are less than the Expense Limitation, the Advisor and Sub-Advisor shall be entitled to reimbursement by the Fund on a 50/50 basis of the other expenses borne by the Advisor and Sub-Advisor on behalf of the Fund (the "Reimbursement Amount") during any of the previous thirty-six (36) months, but only to the extent that the Fund's estimated annualized Specified Expenses in respect of a Class are less than, for such month, the lesser of the Expense Limitation or any other relevant expense limit then in effect with respect to the Class, and provided that such amount paid to the Advisor and Sub-Advisor will in no event exceed the total Reimbursement Amount and will not include any amounts previously reimbursed. The Advisor and Sub-Advisor may recapture a Specified Expense in any year within the thirty-six (36) month period after the Advisor and Sub-Advisor bear the expense. See "Fund Expenses - Expense Limitation Agreement" for additional information. The Expense Limitation Agreement will remain in effect for a three-year period from April 30, 2025, unless and until the Board approves its modification or termination. Thereafter, the Expense Limitation Agreement may be renewed annually with the written agreement of the Advisor, the Sub-Advisor, and the Fund. | 0.35 pct annual of average daily net assets per class specified expenses | 2025-04-30 |
| fee_waiver | The Advisor and the Fund have entered into an investment advisory fee waiver agreement (the “Management Fee Waiver”), whereby the Advisor has agreed to waive 0.50% of its Investment Management Fee on an annualized basis, such that the maximum investment management fee payable by the Fund would be 1.25%. The Management Fee Waiver became effective on June 30, 2025, and will remain in effect through June 30, 2026. | 0.5 pct annual of average daily net assets waived | 2025-06-30 |
| leverage_ceiling | Fund will be limited in its ability to borrow (or guarantee other obligations) by the 1940 Act requirement that a registered investment company must satisfy an “asset coverage” requirement of 300% of its indebtedness, including amounts borrowed, measured at the time the investment company incurs the indebtedness. This requirement means that the value of the investment company’s total indebtedness may not exceed 33% of the value of its total assets (including the indebtedness). | 300.0 asset coverage | - |
| repurchase_program_terms | repurchased by the Fund on a semi-annual basis in an amount no less than 5% and not more than 25% of the outstanding Shares, according to the Fund’s repurchase policy established pursuant to Rule 23c-3 under the 1940 Act. | 5.0 pct of shares outstanding per semiannual offer | - |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-09-03 | N-CSR | 0001104659-26-105002 |
| 2026-05-28 | NPORT-P | 0001410368-26-055880 |
| 2026-03-04 | N-CSRS | 0001104659-26-023264 |
| 2026-02-27 | NPORT-P | 0001410368-26-020624 |
| 2026-02-17 | N-23C3A | 0001104659-26-016125 |
| 2025-12-03 | N-CSRS | 0001104659-25-118086 |
| 2025-11-25 | NPORT-P | 0001410368-25-030710 |
| 2025-08-15 | N-23C3A | 0001104659-25-079041 |
| 2025-06-27 | 424B3 | 0001104659-25-063713 |