Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
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- Peter Lynch
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
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Calamos Aksia Hedged Strategies Fund (Name of Issuer) |
Class I Shares (Title of Class of Securities) |
12811G306 (CUSIP Number) |
Maya Fishman 599 Lexington Avenue, 37th Floor, New York, NY, 10022 (212) 710-5710 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
04/24/2026 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.


The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
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| CUSIP No. | 12811G306 |
| 1 |
Name of reporting person
Calamos Aksia Hedged Strategies Fund (Offshore), Ltd. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
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| 6 | Citizenship or place of organization
CAYMAN ISLANDS
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,400,384.98 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
25.55 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
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| CUSIP No. | 12811G306 |
| 1 |
Name of reporting person
Aksia LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
![]() | ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,400,384.98 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
![]() | ||||||||
| 13 | Percent of class represented by amount in Row (11)
25.55 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IA |
SCHEDULE 13D
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| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Class I Shares |
| (b) | Name of Issuer:
Calamos Aksia Hedged Strategies Fund |
| (c) | Address of Issuer's Principal Executive Offices:
2020 Calamos Ct, Naperville,
ILLINOIS
, 60563. |
| Item 2. | Identity and Background |
| (a) | Calamos Aksia Hedged Strategies Fund (Offshore), Ltd. ("HEDGX (Offshore)") Aksia LLC ("Aksia" and together with HEDGX (Offshore), the "Reporting Persons"). HEDGX (Offshore) is the direct owner of the Class I Shares and Aksia has indirect ownership of the Class I Shares via its voting and investment control over HEDGX (Offshore). |
| (b) | HEDGX (Offshore): C/O MOURANT GOVERNANCE SERVICES (CAYMAN) 94 SOLARIS AVENUE, CAMANA BAY GRAND CAYMAN, CAYMAN ISLANDS KY1-1108 Aksia: 599 Lexington Avenue, 37th Floor New York, NY 10022 |
| (c) | HEDGX (Offshore) is a feeder fund and Aksia is an investment adviser. |
| (d) | Each Reporting Person has not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). |
| (e) | Each Reporting Person has not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which the Reporting Person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. |
| (f) | HEDGX (Offshore)' jurisdiction of organization is the Cayman Islands and Aksia's jurisdiction of organization is the United States of America. |
| Item 3. | Source and Amount of Funds or Other Consideration |
On April 24, 2026, HEDGX (Offshore) purchased 1,400,384.985 Class I Shares of the Issuer for $14,550,000. The source of funds for these shares was working capital. | |
| Item 4. | Purpose of Transaction |
The Reporting Persons acquired and hold the Class I Shares for investment purposes. Depending on market conditions and other factors (including evaluation of the Issuer's businesses and prospects, availability of funds, alternative uses of funds and general economic conditions), the Reporting Persons may from time to time acquire additional securities of the Issuer or dispose of all or a portion of the Issuer. As of the date hereof, the Reporting Persons do not have any plan or proposal that relates to or would result in any of the transactions enumerated in sub items (a) through (j) of the instructions to Item 4 of this Schedule 13D. | |
| Item 5. | Interest in Securities of the Issuer |
| (a) | The following information assumes there are 5,481,740.833 Class I Shares outstanding based on information furnished by the Issuer, and based on the number of shares outstanding, the Reporting Persons beneficially own 25.55% of the Issuer. HEDGX (Offshore) is the direct beneficial owner of 1,400,384.985 Class I Shares of the Issuer. Aksia is an indirect beneficial owner of the 1,400,384.985 Class I Shares of the Issuer and has the power to vote and dispose of the 1,400,384.985 Class I Shares. |
| (b) | By virtue of the relationship among the Reporting Persons described in Item 2, each such Reporting Person may be deemed to share the power to vote or direct the vote and to share the power to dispose of or direct the disposition of the 1,400,384.985 Class I Shares. |
| (c) | Except as otherwise set forth in this Statement, none of the Reporting Persons has effected any transactions in the Class I Shares in the past 60 days. |
| (d) | Except as stated within this Item 5, to the knowledge of the Reporting Persons, only the Reporting Persons have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, the Class I Shares reported by this Schedule 13D. |
| (e) | Inapplicable. |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Except for the joint filing agreement attached hereto as Exhibit 1 and the aforementioned ability of Aksia to vote and dispose of the Class I Shares held by HEDGX (Offshore), to the best knowledge of the Reporting Persons, except as set forth herein in this Schedule 13D, there are no other contracts, arrangements, understandings or relationships (legal or otherwise), including, but not limited to, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, between the Reporting Person, and any other person, with respect to any securities of the Issuer, including any securities pledged or otherwise subject to a contingency the occurrence of which would give another person voting power or investment power over such securities other than standard default and similar provisions contained in loan agreements. | |
| Item 7. | Material to be Filed as Exhibits. |
Exhibit 1: Joint Filing Agreement between the Reporting Persons, dated as of May 1, 2026. |
| 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.
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