CALAMOS GLOBAL TOTAL RETURN FUND — Director's Dealing 2006

Jan 4, 2006

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CALAMOS GLOBAL TOTAL RETURN FUND (CGO)
CIK: 0001285650
Period of Report: 2005-12-30

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-30	COMMON	P	1000	$13.82	Acquired	29000	Indirect
2005-12-30	COMMON	P	500	$13.83	Acquired	29500	Indirect
2005-12-30	COMMON	P	900	$13.85	Acquired	30400	Indirect
2005-12-30	COMMON	P	500	$13.88	Acquired	30900	Indirect
2005-12-30	COMMON	P	1000	$13.9	Acquired	31900	Indirect
2005-12-30	COMMON	P	300	$13.92	Acquired	32200	Indirect
2005-12-30	COMMON	P	1000	$13.93	Acquired	33200	Indirect
2005-12-30	COMMON	P	2800	$13.95	Acquired	36000	Indirect
2005-12-30	COMMON	P	900	$13.96	Acquired	36900	Indirect
2005-12-30	COMMON	P	400	$13.97	Acquired	37300	Indirect
2005-12-30	COMMON	P	700	$14	Acquired	38000	Indirect
2005-12-30	COMMON	P	400	$14.05	Acquired	38400	Indirect
2005-12-30	COMMON	P	600	$14.1	Acquired	39000	Indirect
2005-12-30	COMMON	P	1000	$14.15	Acquired	40000	Indirect
2006-01-03	COMMON	P	200	$13.89	Acquired	40200	Indirect
2005-01-03	COMMON	P	2600	$13.9	Acquired	42800	Indirect
2006-01-03	COMMON	P	200	$13.93	Acquired	43000	Indirect
2006-01-03	COMMON	P	700	$13.94	Acquired	43700	Indirect
2006-01-03	COMMON	P	1400	$13.95	Acquired	45100	Indirect
2006-01-03	COMMON	P	500	$14.15	Acquired	45600	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
COMMON	55000	Direct

Footnotes

F1: The reporting person is a managing member of the limited liablity 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.