CALAMOS STRATEGIC TOTAL RETURN FUND — Director's Dealing 2006

Dec 15, 2006

SEC Form 5 — Annual Statement of Changes in Beneficial Ownership

Issuer: CALAMOS STRATEGIC TOTAL RETURN FUND (CSQ)
CIK: 0001275214
Period of Report: 2006-10-31

Reporting Person: CALAMOS NICK P (vice president)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common	83722.986	Indirect

Footnotes

F1: Includes 10,972.986 shares acquired between December 2004 and October 2006 under the Calamos Strategic Total Return Fund dividend reinvestment plan.

F2: The total reported number of shares directly held has been reduced to reflect that certain shares, which had previously been reported as directly held, were at the time held indirectly through a trust. These shares are now included in the reporting person's indirect holdings.