MetLife discloses 78.6% stake in CCD preferreds

Calamos Dynamic Convertible & Income Fund (CCD) reports that MetLife Investment Management, LLC has filed a Schedule 13G disclosing significant ownership of its Series I Mandatory Redeemable Preferred Shares.

Available on EDGAR 09/08/2026 - 04:13 PM EDT Accepted by SEC EDGAR 09/08/2026 - 04:12 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Calamos Dynamic Convertible & Income Fund (CCD) reports that MetLife Investment Management, LLC has filed a Schedule 13G disclosing significant ownership of its Series I Mandatory Redeemable Preferred Shares.

As of August 31, 2026, MetLife Investment Management may be deemed the beneficial owner of 880,000 Series I Mandatory Redeemable Preferred Shares, representing 78.6% of that class, based on 1,120,000 shares outstanding. It holds sole voting and sole dispositive power over these shares and no shared power. The shares are managed on behalf of various clients, including Foremost Insurance Company, Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.

Key Figures

Beneficially owned Series I Mandatory Redeemable Preferred Shares: 880,000 shares Percent of class owned: 78.6% Series I Mandatory Redeemable Preferred Shares outstanding: 1,120,000 shares +2 more

5 metrics

Beneficially owned Series I Mandatory Redeemable Preferred Shares 880,000 shares Beneficial ownership by MetLife Investment Management as of August 31, 2026

Percent of class owned 78.6% Series I Mandatory Redeemable Preferred Shares beneficially owned by MetLife Investment Management

Series I Mandatory Redeemable Preferred Shares outstanding 1,120,000 shares Outstanding Series I Mandatory Redeemable Preferred Shares used to calculate ownership percentage

Sole voting power 880,000 shares Shares over which MetLife Investment Management has sole power to vote or direct the vote

Sole dispositive power 880,000 shares Shares over which MetLife Investment Management has sole power to dispose or direct disposition

Key Terms

beneficial owner, Sole Voting Power, dispositive power, Mandatory Redeemable Preferred Shares, +1 more

5 terms

beneficial owner financial

"may be deemed to be the beneficial owner of 880,000 Series I"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Sole Voting Power financial

"5 | Sole Voting Power 880,000.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"Sole Dispositive Power 880,000.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Mandatory Redeemable Preferred Shares financial

"Title of class of securities: Series I Mandatory Redeemable Preferred Shares"

A share that pays a fixed return and must be bought back by the issuer at a set time or upon a predetermined event, combining features of stock and a loan. It matters to investors because holders get priority on payments and a promised repayment date—like lending money with a scheduled payback—so these shares limit upside from company growth but reduce risk compared with ordinary shares and can affect a company’s future cash needs.

Schedule 13G regulatory

"MetLife Investment Management, LLC has filed a Schedule 13G disclosing"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership did MetLife Investment Management report in CCD’s preferred shares?

MetLife Investment Management reported beneficial ownership of 880,000 Series I Mandatory Redeemable Preferred Shares of CCD, representing approximately 78.6% of that class, based on 1,120,000 shares outstanding as of August 31, 2026.

What percentage of CCD’s Series I Mandatory Redeemable Preferred Shares does MetLife Investment Management hold?

MetLife Investment Management reported holding approximately 78.6% of CCD’s Series I Mandatory Redeemable Preferred Shares, calculated using 1,120,000 shares outstanding as of August 31, 2026.

How many CCD Series I Mandatory Redeemable Preferred Shares are outstanding?

The filing states that the percentage ownership is based on 1,120,000 CCD Series I Mandatory Redeemable Preferred Shares outstanding, used to calculate the 78.6% beneficial ownership figure.

Does MetLife Investment Management have sole or shared voting power over CCD’s preferred shares?

MetLife Investment Management reported sole voting power over 880,000 CCD Series I Mandatory Redeemable Preferred Shares and no shared voting power. It also has sole dispositive power over the same number of shares and no shared dispositive power.

On whose behalf does MetLife Investment Management hold CCD’s Series I Mandatory Redeemable Preferred Shares?

The shares are managed on behalf of various clients, including Foremost Insurance Company, Metropolitan Life Insurance Company, and Metropolitan Tower Life Insurance Company, according to the ownership disclosure.

As of what date is MetLife Investment Management’s ownership in CCD measured?

MetLife Investment Management’s beneficial ownership of CCD’s Series I Mandatory Redeemable Preferred Shares is stated as of August 31, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Calamos Dynamic Convertible & Income Fund

(Name of Issuer)

Series I Mandatory Redeemable Preferred Shares

(Title of Class of Securities)

12811V*80

(CUSIP Number)

08/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 12811V*80

1

Names of Reporting Persons

MetLife Investment Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 880,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 880,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

880,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

78.6 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: The percent of class is calculated based on 1,120,000 Series I Mandatory Redeemable Preferred Shares outstanding.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Calamos Dynamic Convertible & Income Fund
(b)	Address of issuer's principal executive offices: 2020 Calamos Court, Naperville, Illinois 60563-2787
Item 2.
(a)	Name of person filing: MetLife Investment Management, LLC (the "Reporting Person")
(b)	Address or principal business office or, if none, residence: One MetLife Way, Whippany, New Jersey 07981
(c)	Citizenship: Delaware
(d)	Title of class of securities: Series I Mandatory Redeemable Preferred Shares
(e)	CUSIP Number(s): 12811V*80
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: As of August 31, 2026, the Reporting Person may be deemed to be the beneficial owner of 880,000 Series I Mandatory Redeemable Preferred Shares, representing approximately 78.6% of the Series I Mandatory Redeemable Preferred Shares. This percentage is calculated based on 1,120,000 Series I Mandatory Redeemable Preferred Shares outstanding.
(b)	Percent of class: 78.6%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 880,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 880,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Reporting Person manages these Series I Mandatory Redeemable Preferred Shares on behalf of various clients, including Foremost Insurance Company, Metropolitan Life Insurance Company and Metropolitan Tower Life Insurance Company.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

MetLife Investment Management, LLC

Signature:	/s/ Israel Grafstein
Name/Title:	Israel Grafstein, Chief Compliance Officer
Date:	09/08/2026