<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001104659-22-067609</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <!-- Field: Pseudo-Tag; ID: Name; Data: Apollo Management Holdings GP, LLC -->
          <cik>0001449433</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>


    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>4</amendmentNo>
      <securitiesClassTitle>Series F Mandatory Redeemable Preferred Shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>12/31/2024</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0001275214</issuerCik>
        <issuerName>Calamos Strategic Total Return Fund</issuerName>
        <issuerCusip>128125*60</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <com:street1>2020 Calamos Court</com:street1>
          <com:street2>C/o Calamos Advisors LLC</com:street2>
          <com:city>Naperville</com:city>
          <com:stateOrCountry>IL</com:stateOrCountry>
          <com:zipCode>60563</com:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Management Holdings GP, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Athene Annuity and Life Company</reportingPersonName>
      <citizenshipOrOrganization>IA</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>IC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Insurance Solutions Group LP</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>AISG GP Ltd.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Life Asset L.P.</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Life Asset GP, LLC</reportingPersonName>
      <citizenshipOrOrganization>E9</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Capital Management, L.P.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>IA</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Capital Management GP, LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Apollo Management Holdings, L.P.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0.00</soleVotingPower>
        <sharedVotingPower>1920000.00</sharedVotingPower>
        <soleDispositivePower>0.00</soleDispositivePower>
        <sharedDispositivePower>1920000.00</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1920000.00</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>48.0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Calamos Strategic Total Return Fund</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>2020 Calamos Court, C/o Calamos Advisors LLC, Naperville, IL, 60563</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>This statement is filed by: (i) Athene Annuity and Life Company ("AAIA"); (ii) Apollo Insurance Solutions Group LP ("AISG"); (iii) AISG GP Ltd. ("AISG GP"); (iv) Apollo Life Asset, L.P. ("Apollo Life"); (v) Apollo Life Asset GP, LLC ("Apollo Life GP"); (vi) Apollo Capital Management, L.P. ("Capital Management"); (vii) Apollo Capital Management GP, LLC ("Capital Management GP"); (viii) Apollo Management Holdings, L.P. ("Management Holdings"); and (ix) Apollo Management Holdings GP, LLC ("Management Holdings GP"). The foregoing are collectively referred to herein as the "Reporting Persons."

AAIA holds Series F Mandatory Redeemable Preferred Shares (the "MRPs") of the Issuer.  AISG is the investment adviser of AAIA. AISG GP is the general partner of AISG. Apollo Life is the general partner of AISG GP, and Apollo Life GP is the general partner of Apollo Life. Capital Management is the sole member of Apollo Life GP. The general partner of Capital Management is Capital Management GP. Management Holdings is the sole member and manager of Capital Management GP, and Management Holdings GP is the general partner of Management Holdings.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The address of the principal office of AAIA is 7700 Mills Civic Parkway, West Des Moines, Iowa 50266. The address of the principal office of AISG is 2121 Rosecrans Ave. Ste 5300, El Segundo, California 90245. The address of the principal office of each of AISG GP, Apollo Life, and Apollo Life GP is c/o Walkers Corporate Limited, 190 Elgin Avenue, George Town, KY1-9008 Grand Cayman, Cayman Islands. The address of the principal office of each of Capital Management, Capital Management GP, Management Holdings, and Management Holdings GP is 9 West 57th Street, 41st Floor, New York, NY 10019.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>AAIA   Iowa
AISG   Delaware
AISG GP   Cayman Islands
Apollo Life   Cayman Islands
Apollo Life GP   Cayman Islands
Capital Management   Delaware
Capital Management GP   Delaware
Management Holdings   Delaware
Management Holdings GP   Delaware</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>N</notApplicableFlag>
        <typeOfPersonFiling>IC</typeOfPersonFiling>
        <typeOfPersonFiling>IA</typeOfPersonFiling>
        <typeOfPersonFiling>HC</typeOfPersonFiling>
      </item3>
      <item4>
        <amountBeneficiallyOwned>Information in Rows 5 to 11 of the respective cover pages of the individual Reporting Persons are incorporated into this Item 4 by reference.

AISG, AISG GP, Apollo Life, Apollo Life GP, Capital Management, Capital Management GP, Management Holdings, and Management Holdings GP each disclaim beneficial ownership of all Common Stock included in this report, and the filing of this report shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities for purposes of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, or for any other purpose.</amountBeneficiallyOwned>
        <classPercent>Information in Rows 5 to 11 of the respective cover pages of the individual Reporting Persons are incorporated into this Item 4 by reference.

The Reporting Persons' aggregate percentage of beneficial ownership of the total amount of MRPs outstanding is based on 4,000,000 shares of the MRPs outstanding.</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>0 for all Reporting Persons</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>AAIA   1,920,000
AISG   1,920,000
AISG GP   1,920,000
Apollo Life   1,920,000
Apollo Life GP   1,920,000
Capital Management   1,920,000
Capital Management GP   1,920,000
Management Holdings   1,920,000
Management Holdings GP   1,920,000</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>0 for all Reporting Persons</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>AAIA   1,920,000
AISG   1,920,000
AISG GP   1,920,000
Apollo Life   1,920,000
Apollo Life GP   1,920,000
Capital Management   1,920,000
Capital Management GP   1,920,000
Management Holdings   1,920,000
Management Holdings GP   1,920,000</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>See response to Item 2(a), which is incorporated herein by reference.</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <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.</certifications>
      </item10>
    </items>
    <signatureInformation>
      <reportingPersonName>Apollo Management Holdings GP, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Athene Annuity and Life Company</reportingPersonName>
      <signatureDetails>
        <signature>Apollo Insurance Solutions Group LP</signature>
        <title>Investment Adviser</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>AISG GP Ltd.</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Angelo Lombardo</signature>
        <title>Angelo Lombardo, Authorized Signatory</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Insurance Solutions Group LP</reportingPersonName>
      <signatureDetails>
        <signature>AISG GP Ltd.</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ Angelo Lombardo</signature>
        <title>Angelo Lombardo, Authorized Signatory</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>AISG GP Ltd.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Angelo Lombardo</signature>
        <title>Angelo Lombardo, Authorized Signatory</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Life Asset L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Apollo Life Asset GP, LLC</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>Apollo Capital Management L.P.</signature>
        <title>Managing Member</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>Apollo Capital Management GP, LLC</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Life Asset GP, LLC</reportingPersonName>
      <signatureDetails>
        <signature>Apollo Capital Management L.P.</signature>
        <title>Managing Member</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>Apollo Capital Management GP, LLC</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Capital Management, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Apollo Capital Management GP, LLC</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Capital Management GP, LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Apollo Management Holdings, L.P.</reportingPersonName>
      <signatureDetails>
        <signature>Apollo Management Holdings GP, LLC</signature>
        <title>General Partner</title>
        <date>02/14/2025</date>
      </signatureDetails>
      <signatureDetails>
        <signature>/s/ William B. Kuesel</signature>
        <title>William B. Kuesel, Vice President</title>
        <date>02/14/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
</edgarSubmission>