CALAMOS GLOBAL TOTAL RETURN FUND — Director's Dealing 2005

Dec 29, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALAMOS GLOBAL TOTAL RETURN FUND (CGO)
CIK: 0001285650
Period of Report: 2005-12-27

Reporting Person: CALAMOS JOHN P SR (Director, president and chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-27	COMMON	P	500	$13.48	Acquired	500	Indirect
2005-12-27	COMMON	P	1100	$13.49	Acquired	1600	Indirect
2005-12-27	COMMON	P	3400	$13.5	Acquired	5000	Indirect
2005-12-27	COMMON	P	3500	$13.55	Acquired	8500	Indirect
2005-12-27	COMMON	P	500	$13.6	Acquired	9000	Indirect
2005-12-27	COMMON	P	1000	$13.68	Acquired	10000	Indirect
2005-12-28	COMMON	P	2500	$13.2	Acquired	12500	Indirect
2005-12-28	COMMON	P	4400	$13.28	Acquired	16900	Indirect
2005-12-28	COMMON	P	100	$13.29	Acquired	17000	Indirect
2005-12-28	COMMON	P	500	$13.3	Acquired	17500	Indirect
2005-12-28	COMMON	P	300	$13.6	Acquired	17800	Indirect
2005-12-28	COMMON	P	2200	$13.65	Acquired	20000	Indirect
2005-12-29	COMMON	P	8000	$13.6	Acquired	28000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	55000	Direct

Footnotes

F1: The reporting person is a managing member of the limited liability company that owns the reported securities. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.