UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-09645
Columbia Funds Series Trust
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: April 30
Date of reporting period: April 30, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
April 30, 2022
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(Unaudited)
Average annual total returns (%) (for the period ended April 30, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/02/93 | -3.68 | 0.47 | 0.49 |
Including sales charges | -4.69 | 0.28 | 0.39 | ||
Advisor Class* | 03/19/13 | -3.53 | 0.74 | 0.75 | |
Class C | Excluding sales charges | 05/19/94 | -4.48 | -0.28 | -0.26 |
Including sales charges | -5.43 | -0.28 | -0.26 | ||
Institutional Class | 10/07/93 | -3.44 | 0.72 | 0.74 | |
Institutional 2 Class* | 11/08/12 | -3.40 | 0.79 | 0.81 | |
Institutional 3 Class* | 03/01/17 | -3.36 | 0.81 | 0.79 | |
Bloomberg 1-3 Year Municipal Bond Index | -2.91 | 0.82 | 0.85 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at April 30, 2022) | |
AAA rating | 5.6 |
AA rating | 18.6 |
A rating | 35.4 |
BBB rating | 19.7 |
BB rating | 1.5 |
B rating | 0.4 |
Not rated | 18.8 |
Total | 100.0 |
Top Ten States/Territories (%) (at April 30, 2022) | |
New York | 18.8 |
Illinois | 9.3 |
Massachusetts | 7.2 |
New Jersey | 6.1 |
Pennsylvania | 6.0 |
California | 3.7 |
Kentucky | 3.3 |
Texas | 2.8 |
Georgia | 2.8 |
Florida | 2.7 |
4 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
• | The Fund’s duration positioning detracted most from its relative results. The Fund had a longer duration profile than that of the benchmark, which hurt as municipal yields rose significantly during the annual period. |
• | The Fund’s exposure to securities with greater than three-year maturities, which are not components of the benchmark and which underperformed the benchmark during the annual period, further dampened the Fund’s relative results. |
• | Having an overweight to the prepaid gas sector, which underperformed the benchmark during the annual period, hurt. |
• | Security selection among A-rated and BBB-rated bonds detracted, as did security selection within the transportation sector. |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 5 |
(Unaudited)
• | Exposure to municipal bonds with maturities of less than one year, which are not components of the benchmark, proved beneficial, as shorter maturity municipal bonds outperformed those with longer maturities during the annual period. |
• | Security selection among AA-rated bonds boosted the Fund’s results. Higher quality bonds overall outperformed those with lower credit ratings during the annual period, as it was generally a “risk off” time in the market. |
• | From a sector perspective, security selection among hospital bonds added value. |
• | From a states perspective, exposure to New York and Massachusetts local general obligation notes, which generally outperformed the benchmark during the annual period, contributed positively. |
6 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
November 1, 2021 — April 30, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 963.80 | 1,021.64 | 3.23 | 3.33 | 0.66 |
Advisor Class | 1,000.00 | 1,000.00 | 965.10 | 1,022.89 | 2.01 | 2.07 | 0.41 |
Class C | 1,000.00 | 1,000.00 | 960.60 | 1,017.90 | 6.89 | 7.09 | 1.41 |
Institutional Class | 1,000.00 | 1,000.00 | 965.00 | 1,022.89 | 2.01 | 2.07 | 0.41 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 966.10 | 1,023.14 | 1.76 | 1.82 | 0.36 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 966.40 | 1,023.39 | 1.52 | 1.56 | 0.31 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 7 |
April 30, 2022
Fixed Income Funds 0.6% | ||
Shares | Value ($) | |
Municipal 0.6% | ||
Nuveen AMT-Free Quality Municipal Income Fund, Preferred Shares | 5,000,000 | 5,000,000 |
Total Fixed Income Funds (Cost $5,000,000) | 5,000,000 |
Floating Rate Notes 1.5% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Florida 0.2% | ||||
County of Martin(a) | ||||
Revenue Bonds | ||||
Series 2000 | ||||
07/15/2022 | 0.400% | 700,000 | 700,000 | |
JEA Electric System(a),(b) | ||||
Revenue Bonds | ||||
Series 2011 (US Bank NA) | ||||
10/01/2038 | 0.370% | 700,000 | 700,000 | |
Total | 1,400,000 | |||
New York 1.3% | ||||
City of New York(a),(b) | ||||
Unlimited General Obligation Bonds | ||||
Fiscal 2015 | ||||
Subordinated Series 2015 (JPMorgan Chase Bank) | ||||
06/01/2044 | 0.330% | 3,600,000 | 3,600,000 | |
Series 2015 (Barclays Bank PLC) | ||||
06/01/2044 | 0.350% | 800,000 | 800,000 | |
New York City Transitional Finance Authority(a),(b) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2015 (JPMorgan Chase Bank) | ||||
02/01/2045 | 0.330% | 5,700,000 | 5,700,000 | |
Total | 10,100,000 | |||
Total Floating Rate Notes (Cost $11,500,000) | 11,500,000 | |||
Municipal Bonds 86.7% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 2.6% | ||||
Black Belt Energy Gas District | ||||
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2019A-1 | ||||
06/01/2023 | 4.000% | 1,000,000 | 1,011,550 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Project No. 7 | ||||
Series 2021 | ||||
12/01/2024 | 4.000% | 2,570,000 | 2,612,868 | |
Series 2017-A (Mandatory Put 07/01/22) | ||||
08/01/2047 | 4.000% | 2,500,000 | 2,510,042 | |
Series 2018A (Mandatory Put 12/01/23) | ||||
12/01/2048 | 4.000% | 4,970,000 | 5,030,006 | |
Black Belt Energy Gas District(c) | ||||
Revenue Bonds | ||||
Series 2018B-1 (Mandatory Put 12/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.900% 12/01/2048 | 1.204% | 1,000,000 | 994,466 | |
Series 2018B-2 (Mandatory Put 12/01/23) | ||||
Muni Swap Index Yield + 0.620% 12/01/2048 | 1.060% | 5,000,000 | 4,973,746 | |
Industrial Development Board of the City of Mobile | ||||
Senior Revenue Bonds | ||||
Alabama Power Co. - Barry Plant Project | ||||
Series 2020 (Mandatory Put 06/26/25) | ||||
06/01/2034 | 1.000% | 1,150,000 | 1,082,882 | |
Lower Alabama Gas District (The) | ||||
Revenue Bonds | ||||
Gas Project | ||||
Series 2020 (Mandatory Put 12/01/25) | ||||
12/01/2050 | 4.000% | 600,000 | 611,496 | |
Southeast Energy Authority A Cooperative District | ||||
Revenue Bonds | ||||
Project #2 | ||||
Series 2021B | ||||
06/01/2026 | 4.000% | 1,265,000 | 1,305,059 | |
Total | 20,132,115 | |||
Alaska 0.6% | ||||
Alaska Industrial Development & Export Authority | ||||
Refunding Revenue Bonds | ||||
Greater Fairbanks Community Hospital Foundation Project | ||||
Series 2019 | ||||
04/01/2023 | 5.000% | 1,870,000 | 1,917,990 | |
04/01/2024 | 5.000% | 1,800,000 | 1,877,203 | |
Alaska Municipal Bond Bank Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020-1 | ||||
12/01/2022 | 5.000% | 700,000 | 712,524 | |
Total | 4,507,717 |
8 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Arizona 1.1% | ||||
Arizona Industrial Development Authority | ||||
Revenue Bonds | ||||
Lincoln South Beltway Project | ||||
Series 2020 | ||||
02/01/2023 | 5.000% | 1,250,000 | 1,275,567 | |
05/01/2023 | 5.000% | 1,000,000 | 1,026,808 | |
Chandler Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Intel Corp. | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
06/01/2049 | 5.000% | 1,450,000 | 1,514,905 | |
City of Phoenix Civic Improvement Corp.(d) | ||||
Revenue Bonds | ||||
Junior Lien - Airport | ||||
Series 2019B | ||||
07/01/2026 | 5.000% | 990,000 | 1,060,859 | |
Coconino County Pollution Control Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Nevada Power Co. | ||||
Series 2020 (Mandatory Put 03/31/23) | ||||
09/01/2032 | 1.875% | 1,500,000 | 1,494,963 | |
Maricopa County Industrial Development Authority(c) | ||||
Refunding Revenue Bonds | ||||
Banner Health Obligation | ||||
Series 2019 (Mandatory Put 10/18/24) | ||||
Muni Swap Index Yield + 0.570% 01/01/2035 | 1.010% | 1,375,000 | 1,380,529 | |
Maricopa County Pollution Control Corp. | ||||
Refunding Revenue Bonds | ||||
Palo Verde Project | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
06/01/2043 | 0.875% | 1,000,000 | 898,373 | |
Total | 8,652,004 | |||
California 3.0% | ||||
Bay Area Toll Authority(c) | ||||
Revenue Bonds | ||||
San Francisco Bay Area Toll Bridge | ||||
Series 2012 (Mandatory Put 04/01/24) | ||||
Muni Swap Index Yield + 1.100% 04/01/2045 | 1.540% | 500,000 | 502,386 | |
California Community Choice Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - Clean Energy Project | ||||
Series 2021 (Mandatory Put 12/01/27) | ||||
10/01/2052 | 4.000% | 1,000,000 | 1,025,108 | |
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2022 | 4.000% | 300,000 | 300,555 | |
06/01/2023 | 4.000% | 400,000 | 404,843 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Hospital | ||||
Series 2017 | ||||
10/15/2022 | 5.000% | 300,000 | 304,198 | |
Series 2021 | ||||
10/15/2024 | 4.000% | 380,000 | 390,908 | |
10/15/2025 | 4.000% | 400,000 | 415,034 | |
10/15/2026 | 4.000% | 415,000 | 433,995 | |
California Public Finance Authority(e) | ||||
Revenue Bonds | ||||
Enso Village Project - TEMPS 50 | ||||
Series 2021 | ||||
11/15/2027 | 2.125% | 3,000,000 | 2,843,485 | |
City of Los Angeles Department of Airports(d) | ||||
Refunding Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2022 | ||||
05/15/2025 | 5.000% | 1,930,000 | 2,039,345 | |
City of Vernon Electric System(f) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2025 | 5.000% | 500,000 | 524,010 | |
08/01/2026 | 5.000% | 600,000 | 634,540 | |
Corona-Norco Unified School District(g) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2002D (AGM) | ||||
09/01/2027 | 0.000% | 2,000,000 | 1,692,956 | |
County of Sacramento Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018C | ||||
07/01/2029 | 5.000% | 1,585,000 | 1,721,277 | |
Golden State Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2017A-1 Escrowed to Maturity | ||||
06/01/2022 | 5.000% | 1,000,000 | 1,003,442 | |
Palomar Health | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
11/01/2022 | 5.000% | 375,000 | 380,411 | |
Pittsburg Successor Agency Redevelopment Agency(g) | ||||
Tax Allocation Bonds | ||||
Los Medanos Community Development Project | ||||
Series 1999 (AMBAC) | ||||
08/01/2024 | 0.000% | 2,000,000 | 1,880,484 | |
Port of Oakland(d) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Junior Subordinated Series 2021 | ||||
05/01/2026 | 5.000% | 4,125,000 | 4,436,440 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 9 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Sacramento Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Subordinated Series 2015A (BAM) | ||||
12/01/2022 | 5.000% | 385,000 | 392,000 | |
San Francisco City & County Airport Commission - San Francisco International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019 | ||||
01/01/2026 | 5.000% | 1,500,000 | 1,596,421 | |
Total | 22,921,838 | |||
Colorado 1.5% | ||||
City & County of Denver Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2030 | 5.000% | 1,925,000 | 2,062,800 | |
System | ||||
Subordinated Series 2018A | ||||
12/01/2026 | 5.000% | 1,500,000 | 1,613,236 | |
Colorado Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
CommonSpirit Health | ||||
Series 2019B (Mandatory Put 08/01/26) | ||||
08/01/2049 | 5.000% | 2,000,000 | 2,141,286 | |
CommonSpirit Health Services | ||||
Series 2019B (Mandatory Put 08/01/25) | ||||
08/01/2049 | 5.000% | 1,000,000 | 1,054,680 | |
Evangelical Lutheran Good Samaritan Society Project (The) | ||||
Series 2017 Escrowed to Maturity | ||||
06/01/2022 | 5.000% | 250,000 | 250,839 | |
Revenue Bonds | ||||
Aberdeen Ridge | ||||
Series 2021B | ||||
05/15/2028 | 2.125% | 1,750,000 | 1,631,936 | |
E-470 Public Highway Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2021B (Mandatory Put 09/01/24) | ||||
0.7 x SOFR + 0.350% 09/01/2039 | 0.538% | 1,000,000 | 979,885 | |
University of Colorado | ||||
Refunding Revenue Bonds | ||||
University Enterprise | ||||
Series 2021 (Mandatory Put 10/15/25) | ||||
06/01/2051 | 2.000% | 1,750,000 | 1,691,468 | |
Total | 11,426,130 | |||
Connecticut 0.8% | ||||
City of New Haven | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A (AGM) | ||||
08/01/2024 | 5.000% | 1,000,000 | 1,053,429 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Connecticut Housing Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Housing Mortgage Finance Program | ||||
Series 2021 | ||||
05/15/2023 | 0.350% | 350,000 | 343,495 | |
11/15/2023 | 0.400% | 300,000 | 291,131 | |
Subordinated Series 2018A-2 | ||||
05/15/2022 | 2.375% | 1,460,000 | 1,460,699 | |
South Central Connecticut Regional Water Authority(f) | ||||
Refunding Revenue Bonds | ||||
Thirty Sixth Series 2022B-1 | ||||
08/01/2024 | 4.000% | 2,325,000 | 2,399,854 | |
State of Connecticut | ||||
Revenue Bonds | ||||
Special Tax Obligation Bonds | ||||
Series 2020A | ||||
05/01/2022 | 5.000% | 400,000 | 400,095 | |
Total | 5,948,703 | |||
District of Columbia 0.4% | ||||
District of Columbia | ||||
Revenue Bonds | ||||
Federal Highway Grant Anticipation | ||||
Series 2011 | ||||
12/01/2023 | 5.250% | 1,750,000 | 1,754,163 | |
Metropolitan Washington Airports Authority Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Airport System | ||||
Series 2019A | ||||
10/01/2024 | 5.000% | 1,000,000 | 1,049,577 | |
Total | 2,803,740 | |||
Florida 2.5% | ||||
City of Jacksonville(f) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 700,000 | 742,883 | |
City of Pompano Beach | ||||
Revenue Bonds | ||||
John Knox Village Project | ||||
Series 2021 | ||||
01/01/2027 | 1.450% | 2,000,000 | 1,804,905 | |
City of Port St. Lucie | ||||
Special Assessment Refunding Revenue Bonds | ||||
Series 2016 | ||||
07/01/2026 | 2.250% | 1,750,000 | 1,704,332 | |
County of Lee Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2025 | 5.000% | 2,130,000 | 2,258,824 |
10 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Lee Solid Waste System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2016 (NPFGC) | ||||
10/01/2022 | 5.000% | 3,100,000 | 3,135,103 | |
Florida Development Finance Corp.(e) | ||||
Revenue Bonds | ||||
Mayflower Retirement Community Center - TEMPS 50 | ||||
Series 2021 | ||||
06/01/2026 | 1.750% | 1,020,000 | 949,015 | |
Greater Orlando Aviation Authority(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016A | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,082,054 | |
Hillsborough County Aviation Authority(d) | ||||
Prerefunded 10/01/24 Revenue Bonds | ||||
Tampa International Airport | ||||
Subordinated Series 2015B | ||||
10/01/2040 | 5.000% | 3,000,000 | 3,148,729 | |
Jacksonville Port Authority(d) | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Series 2012 | ||||
11/01/2038 | 5.000% | 1,545,000 | 1,567,370 | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2025 | 3.750% | 2,000,000 | 1,895,713 | |
St. Johns County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Vicar’s Landing Project | ||||
Series 2021 | ||||
12/15/2024 | 4.000% | 145,000 | 146,287 | |
12/15/2025 | 4.000% | 180,000 | 180,958 | |
12/15/2026 | 4.000% | 185,000 | 185,148 | |
Village Community Development District No. 13 | ||||
Special Assessment Bonds | ||||
Series 2021 | ||||
05/01/2026 | 1.800% | 500,000 | 465,434 | |
Total | 19,266,755 | |||
Georgia 2.8% | ||||
Bartow County Development Authority(a) | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant | ||||
Series 2019 (Mandatory Put 08/19/22) | ||||
08/01/2043 | 1.550% | 500,000 | 498,844 | |
Burke County Development Authority | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 05/25/23) | ||||
10/01/2032 | 2.250% | 1,000,000 | 994,208 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Development Authority of Burke County (The) | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 03/12/24) | ||||
11/01/2048 | 2.925% | 1,250,000 | 1,245,704 | |
Georgia State Road & Tollway Authority(e),(g) | ||||
Revenue Bonds | ||||
I-75 S Express Lanes Project | ||||
Series 2014 Escrowed to Maturity | ||||
06/01/2024 | 0.000% | 735,000 | 677,112 | |
Main Street Natural Gas, Inc.(e) | ||||
Revenue Bonds | ||||
Gas Supply | ||||
Series 2022C (Mandatory Put 11/01/27) | ||||
08/01/2052 | 4.000% | 3,000,000 | 2,991,190 | |
Main Street Natural Gas, Inc.(c) | ||||
Revenue Bonds | ||||
Series 2018B (Mandatory Put 09/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.750% 04/01/2048 | 1.054% | 1,500,000 | 1,491,607 | |
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2024 | 5.000% | 1,250,000 | 1,288,735 | |
Series 2019B (Mandatory Put 12/02/24) | ||||
08/01/2049 | 4.000% | 3,925,000 | 4,021,853 | |
Series 2019C | ||||
09/01/2024 | 5.000% | 1,500,000 | 1,560,710 | |
Series 2019C (Mandatory Put 09/01/26) | ||||
03/01/2050 | 4.000% | 4,500,000 | 4,586,602 | |
Series 2021C | ||||
12/01/2027 | 4.000% | 1,225,000 | 1,255,559 | |
Municipal Electric Authority of Georgia | ||||
Refunding Revenue Bonds | ||||
Power | ||||
Series 2018HH | ||||
01/01/2023 | 5.000% | 875,000 | 893,072 | |
Total | 21,505,196 | |||
Guam 0.4% | ||||
Guam Power Authority(f),(h) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
10/01/2025 | 5.000% | 2,375,000 | 2,492,801 | |
Territory of Guam(h) | ||||
Refunding Revenue Bonds | ||||
Section 30 | ||||
Series 2016A | ||||
12/01/2022 | 5.000% | 500,000 | 508,364 | |
Total | 3,001,165 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 11 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Idaho 0.6% | ||||
Idaho Health Facilities Authority | ||||
Prerefunded 10/01/24 Revenue Bonds | ||||
Terraces of Boise Project | ||||
Series 2014A | ||||
10/01/2044 | 8.000% | 3,700,000 | 4,158,672 | |
Idaho Housing & Finance Association | ||||
Revenue Bonds | ||||
Sunset Landing Apartment Project | ||||
Series 2021 | ||||
07/01/2024 | 0.700% | 820,000 | 786,322 | |
Total | 4,944,994 | |||
Illinois 9.3% | ||||
Chicago Board of Education | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2021B | ||||
12/01/2022 | 5.000% | 400,000 | 406,643 | |
Chicago Housing Authority | ||||
Revenue Bonds | ||||
Series 2018A (HUD) | ||||
01/01/2023 | 5.000% | 1,000,000 | 1,016,398 | |
Chicago Midway International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Junior 2nd Lien | ||||
Series 2014A | ||||
01/01/2027 | 5.000% | 2,885,000 | 2,974,033 | |
Series 2016A | ||||
01/01/2024 | 5.000% | 2,000,000 | 2,071,067 | |
Chicago O’Hare International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2028 | 5.000% | 2,515,000 | 2,623,608 | |
City of Chicago | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
01/01/2024 | 5.000% | 340,000 | 351,298 | |
Series 2021A | ||||
01/01/2029 | 5.000% | 2,000,000 | 2,138,007 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2008 | ||||
01/01/2024 | 5.000% | 2,200,000 | 2,286,915 | |
City of Chicago Waterworks | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
11/01/2022 | 5.000% | 3,220,000 | 3,270,466 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Cook County Community College District No. 535 Oakton | ||||
Prerefunded 12/01/24 Limited General Obligation Bonds | ||||
Limited Tax | ||||
Series 2014 | ||||
12/01/2027 | 4.000% | 200,000 | 207,601 | |
Cook County School District No. 99 Cicero | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2019 | ||||
12/01/2023 | 5.000% | 575,000 | 595,393 | |
County of Cook Sales Tax | ||||
Revenue Bonds | ||||
Series 2012 | ||||
11/15/2024 | 5.000% | 810,000 | 823,384 | |
Illinois Development Finance Authority(g) | ||||
Revenue Bonds | ||||
Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2025 | 0.000% | 2,010,000 | 1,847,265 | |
Zero Regency Park | ||||
Series 1991 Escrowed to Maturity | ||||
07/15/2023 | 0.000% | 2,395,000 | 2,331,056 | |
Illinois Finance Authority | ||||
Improvement Refunding Bonds | ||||
Chicago International | ||||
Series 2017 | ||||
12/01/2022 | 5.000% | 290,000 | 293,743 | |
Refunding Revenue Bonds | ||||
American Water Capital Corp. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
05/01/2040 | 0.700% | 2,000,000 | 1,951,224 | |
Lifespace Communities | ||||
Series 2015 | ||||
05/15/2023 | 5.000% | 250,000 | 254,842 | |
05/15/2024 | 5.000% | 450,000 | 465,548 | |
OSF Healthcare System | ||||
Series 2015A | ||||
11/15/2022 | 5.000% | 555,000 | 564,737 | |
Illinois Finance Authority(c) | ||||
Refunding Revenue Bonds | ||||
Presbyterian Homes | ||||
Series 2021 (Mandatory Put 05/01/26) | ||||
Muni Swap Index Yield + 0.700% 05/01/2042 | 1.140% | 1,250,000 | 1,252,607 | |
Illinois Housing Development Authority | ||||
Revenue Bonds | ||||
Senior | ||||
Series 2016A | ||||
10/01/2031 | 3.125% | 1,325,000 | 1,312,653 | |
Series 2021C (FHA) | ||||
07/01/2026 | 0.800% | 1,000,000 | 921,947 |
12 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Kane Cook & DuPage Counties School District No. U-46 Elgin(g) | ||||
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2003B (AMBAC) | ||||
01/01/2023 | 0.000% | 2,000,000 | 1,972,068 | |
Kendall Kane & Will Counties Community Unit School District No. 308 | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2011A | ||||
02/01/2023 | 5.500% | 2,000,000 | 2,051,522 | |
Metropolitan Pier & Exposition Authority | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
06/15/2024 | 3.000% | 2,250,000 | 2,249,039 | |
06/15/2025 | 3.000% | 2,000,000 | 1,988,768 | |
Northern Illinois University | ||||
Refunding Revenue Bonds | ||||
Northern University of Illinois | ||||
Series 2020B (BAM) | ||||
04/01/2025 | 5.000% | 400,000 | 423,359 | |
Revenue Bonds | ||||
Board of Trustees | ||||
Series 2021 (BAM) | ||||
10/01/2025 | 5.000% | 310,000 | 330,820 | |
10/01/2026 | 5.000% | 250,000 | 270,360 | |
Railsplitter Tobacco Settlement Authority | ||||
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2023 | 5.000% | 2,415,000 | 2,477,407 | |
06/01/2024 | 5.000% | 3,000,000 | 3,126,565 | |
Sales Tax Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018C | ||||
01/01/2023 | 5.000% | 1,000,000 | 1,021,254 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Senior | ||||
Series 2014 | ||||
05/01/2026 | 5.000% | 2,000,000 | 2,073,394 | |
05/01/2027 | 5.000% | 1,500,000 | 1,553,394 | |
Series 2017D | ||||
11/01/2022 | 5.000% | 2,000,000 | 2,028,375 | |
11/01/2028 | 5.000% | 4,775,000 | 5,127,722 | |
Series 2020B | ||||
10/01/2026 | 5.000% | 1,000,000 | 1,070,924 | |
Series 2020C | ||||
05/01/2022 | 5.125% | 500,000 | 500,114 | |
05/01/2023 | 5.375% | 250,000 | 256,849 | |
Series 2020D | ||||
10/01/2022 | 5.000% | 500,000 | 506,057 | |
10/01/2024 | 5.000% | 2,000,000 | 2,093,079 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2021A | ||||
03/01/2024 | 5.000% | 1,250,000 | 1,297,639 | |
03/01/2025 | 5.000% | 500,000 | 525,926 | |
03/01/2028 | 5.000% | 2,500,000 | 2,701,505 | |
Series 2021B | ||||
03/01/2023 | 5.000% | 2,500,000 | 2,552,446 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A | ||||
10/01/2023 | 5.000% | 2,300,000 | 2,372,867 | |
Series 2021C | ||||
03/01/2024 | 4.000% | 1,000,000 | 1,020,430 | |
Village of Bolingbrook | ||||
Refunding Special Tax Bonds | ||||
Series 2018 (AGM) | ||||
03/01/2023 | 4.000% | 510,000 | 518,225 | |
Total | 72,070,543 | |||
Indiana 2.6% | ||||
City of Whiting(d) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 1,000,000 | 1,065,288 | |
Indiana Finance Authority(d) | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
Ohio River Bridges East End Crossing Project | ||||
Series 2013 | ||||
07/01/2044 | 5.000% | 3,000,000 | 3,083,186 | |
Private Activity - Ohio River Bridges East End Crossing Project | ||||
Series 2013 | ||||
01/01/2051 | 5.250% | 11,500,000 | 11,851,548 | |
Indiana Finance Authority | ||||
Refunding Revenue Bonds | ||||
Indianapolis Power & Light Co. Project | ||||
Series 2021 | ||||
08/01/2025 | 0.650% | 1,500,000 | 1,356,206 | |
Indianapolis Local Public Improvement Bond Bank(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021 | ||||
01/01/2026 | 5.000% | 2,750,000 | 2,837,148 | |
Total | 20,193,376 | |||
Iowa 1.1% | ||||
City of Waverly | ||||
Revenue Bonds | ||||
Waverly Health Center Project | ||||
BAN Series 2019 | ||||
12/31/2022 | 2.500% | 500,000 | 497,495 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 13 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Iowa Finance Authority | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
Genesis Health System | ||||
Series 2013 | ||||
07/01/2025 | 5.000% | 2,500,000 | 2,579,510 | |
Iowa Student Loan Liquidity Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
12/01/2022 | 5.000% | 400,000 | 407,249 | |
12/01/2023 | 5.000% | 1,880,000 | 1,953,786 | |
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2022 | 5.000% | 2,000,000 | 2,036,248 | |
PEFA, Inc. | ||||
Revenue Bonds | ||||
Series 2019 (Mandatory Put 09/01/26) | ||||
09/01/2049 | 5.000% | 1,045,000 | 1,102,780 | |
Total | 8,577,068 | |||
Kansas 0.3% | ||||
City of Eudora | ||||
Unlimited General Obligation Bonds | ||||
Temporary Notes | ||||
Series 2021A | ||||
09/01/2023 | 3.000% | 2,485,000 | 2,512,791 | |
Kentucky 2.9% | ||||
City of Henderson(d),(e) | ||||
Revenue Bonds | ||||
Pratt Paper LLC Project | ||||
Series 2022 | ||||
01/01/2032 | 3.700% | 1,000,000 | 976,899 | |
County of Owen | ||||
Refunding Revenue Bonds | ||||
Kentucky-American Water Co. Project | ||||
Series 2020 (Mandatory Put 09/01/23) | ||||
06/01/2040 | 0.700% | 1,250,000 | 1,219,515 | |
Kenton County School District Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
10/01/2025 | 3.000% | 1,995,000 | 2,010,704 | |
Kentucky Asset Liability Commission | ||||
Revenue Bonds | ||||
Project Notes - Federal Highway Trust Fund | ||||
Series 2015 | ||||
09/01/2023 | 5.000% | 500,000 | 518,408 | |
Kentucky Economic Development Finance Authority | ||||
Refunding Revenue Bonds | ||||
Owensboro Health System | ||||
Series 2017A | ||||
06/01/2022 | 5.000% | 1,000,000 | 1,003,081 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Kentucky Interlocal School Transportation Association | ||||
Refunding Certificate of Participation | ||||
Series 2021 | ||||
03/01/2025 | 1.250% | 1,485,000 | 1,388,477 | |
03/01/2026 | 1.250% | 1,210,000 | 1,103,600 | |
Kentucky Public Energy Authority | ||||
Revenue Bonds | ||||
Series 2018A (Mandatory Put 04/01/24) | ||||
04/01/2048 | 4.000% | 2,780,000 | 2,819,416 | |
Series 2018B | ||||
07/01/2023 | 4.000% | 750,000 | 761,412 | |
Series 2019A-1 (Mandatory Put 06/01/25) | ||||
12/01/2049 | 4.000% | 5,000,000 | 5,071,161 | |
Series 2020A (Mandatory Put 06/01/26) | ||||
12/01/2050 | 4.000% | 1,355,000 | 1,387,462 | |
Kentucky Public Energy Authority(c) | ||||
Revenue Bonds | ||||
Series 2019A-2 (Mandatory Put 06/01/25) | ||||
0.7 x 1-month USD LIBOR + 1.120% 12/01/2049 | 1.424% | 1,000,000 | 992,392 | |
Louisville Regional Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2014-A | ||||
07/01/2022 | 5.000% | 1,625,000 | 1,633,592 | |
Louisville/Jefferson County Metropolitan Government | ||||
Unrefunded Revenue Bonds | ||||
Norton Healthcare, Inc. | ||||
Series 2020 (Mandatory Put 10/01/23) | ||||
10/01/2047 | 5.000% | 1,125,000 | 1,163,324 | |
Total | 22,049,443 | |||
Louisiana 1.1% | ||||
Lake Charles Harbor & Terminal District(a),(d) | ||||
Revenue Bonds | ||||
Big Lake Fuels LLC Project | ||||
Series 2021 (Mandatory Put 12/01/24) | ||||
12/01/2051 | 1.000% | 5,000,000 | 4,662,428 | |
Louisiana Housing Corp. | ||||
Refunding Revenue Bonds | ||||
Section 8 Assisted - 202 Elderly Projects | ||||
Series 2013 | ||||
12/01/2031 | 2.500% | 5,000 | 5,000 | |
Louisiana Local Government Environmental Facilities & Community Development Authority | ||||
Refunding Revenue Bonds | ||||
Entergy Louisiana LLC Project | ||||
Series 2021 | ||||
06/01/2030 | 2.000% | 1,250,000 | 1,089,968 |
14 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Louisiana Offshore Terminal Authority | ||||
Refunding Revenue Bonds | ||||
Loop LLC Project | ||||
Series 2019 (Mandatory Put 12/01/23) | ||||
09/01/2027 | 1.650% | 1,000,000 | 986,959 | |
Parish of St. Charles | ||||
Revenue Bonds | ||||
Valero Energy Corp. | ||||
Series 2010 (Mandatory Put 06/01/22) | ||||
12/01/2040 | 4.000% | 2,015,000 | 2,018,126 | |
Total | 8,762,481 | |||
Maryland 1.5% | ||||
City of Rockville | ||||
Refunding Revenue Bonds | ||||
Ingelside at King Farm Project | ||||
Series 2017 | ||||
11/01/2022 | 5.000% | 500,000 | 503,178 | |
Maryland Community Development Administration | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C | ||||
03/01/2029 | 1.550% | 3,240,000 | 2,910,567 | |
Revenue Bonds | ||||
Series 2021B | ||||
03/01/2027 | 0.900% | 860,000 | 774,443 | |
Maryland Economic Development Corp.(d) | ||||
Revenue Bonds | ||||
Green Bonds - Purple Line Light Rail Project | ||||
Series 2022 | ||||
11/12/2028 | 5.000% | 2,000,000 | 2,098,810 | |
Maryland Health & Higher Educational Facilities Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Western Maryland Health System | ||||
Series 2014 | ||||
07/01/2025 | 5.250% | 2,500,000 | 2,647,024 | |
Refunding Revenue Bonds | ||||
University of Maryland Medical System | ||||
Series 2020 (Mandatory Put 07/01/25) | ||||
07/01/2045 | 5.000% | 1,500,000 | 1,590,950 | |
State of Maryland Department of Transportation(f) | ||||
Refunding Revenue Bonds | ||||
Series 2022B | ||||
12/01/2027 | 5.000% | 1,205,000 | 1,319,287 | |
Total | 11,844,259 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Massachusetts 2.4% | ||||
Boston Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
10/01/2022 | 0.600% | 535,000 | 531,463 | |
04/01/2023 | 0.650% | 590,000 | 578,358 | |
10/01/2023 | 0.700% | 470,000 | 453,723 | |
City of Lynn | ||||
Limited General Obligation Notes | ||||
BAN Series 2021 | ||||
09/01/2022 | 1.250% | 5,000,000 | 4,994,682 | |
Massachusetts Development Finance Agency(e) | ||||
Prerefunded 11/15/23 Revenue Bonds | ||||
North Hill Communities | ||||
Series 2013A | ||||
11/15/2033 | 6.250% | 2,245,000 | 2,381,971 | |
11/15/2043 | 6.500% | 5,000,000 | 5,319,893 | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
Boston Medical Center | ||||
Series 2016E | ||||
07/01/2022 | 5.000% | 315,000 | 316,645 | |
Series 2019A | ||||
07/01/2024 | 5.000% | 260,000 | 271,636 | |
Massachusetts Educational Financing Authority(d) | ||||
Revenue Bonds | ||||
Education Loan | ||||
Series 2021 | ||||
07/01/2025 | 5.000% | 750,000 | 795,914 | |
07/01/2026 | 5.000% | 1,120,000 | 1,206,964 | |
Senior Revenue Bonds | ||||
Series 2019B | ||||
07/01/2023 | 5.000% | 500,000 | 515,552 | |
Massachusetts Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2021A-2 (HUD) | ||||
06/01/2024 | 0.400% | 500,000 | 474,174 | |
Massachusetts Port Authority(d) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2026 | 5.000% | 885,000 | 948,344 | |
Total | 18,789,319 | |||
Michigan 2.2% | ||||
Great Lakes Water Authority Water Supply System | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Subordinated Series 2018A | ||||
07/01/2023 | 5.000% | 800,000 | 825,350 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 15 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Michigan Finance Authority | ||||
Refunding Revenue Bonds | ||||
McLaren Health Care | ||||
Series 2021D-1 | ||||
10/15/2026 | 0.900% | 2,495,000 | 2,306,280 | |
10/15/2027 | 1.100% | 1,650,000 | 1,442,219 | |
Revenue Bonds | ||||
Variable Bronson Health Care Group | ||||
Series 2019 (Mandatory Put 11/15/22) | ||||
11/15/2044 | 3.500% | 1,000,000 | 1,009,029 | |
Michigan Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Student Loan | ||||
Series 2014-25A | ||||
11/01/2023 | 3.500% | 3,165,000 | 3,186,810 | |
Michigan State Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2021A | ||||
04/01/2025 | 0.550% | 1,000,000 | 943,068 | |
Michigan Strategic Fund(d) | ||||
Revenue Bonds | ||||
Consumers Energy Co. Project | ||||
Series 2021 (Mandatory Put 10/08/26) | ||||
04/01/2035 | 0.875% | 1,335,000 | 1,204,885 | |
Green Bonds | ||||
Series 2021 (Mandatory Put 10/01/26) | ||||
10/01/2061 | 4.000% | 2,000,000 | 2,042,139 | |
Wayne County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Junior Lien | ||||
Series 2017B | ||||
12/01/2022 | 5.000% | 1,100,000 | 1,118,336 | |
Series 2015F | ||||
12/01/2027 | 5.000% | 2,810,000 | 2,982,248 | |
Total | 17,060,364 | |||
Minnesota 0.7% | ||||
City of Maple Grove | ||||
Refunding Revenue Bonds | ||||
Maple Grove Hospital Corp. | ||||
Series 2017 | ||||
05/01/2022 | 4.000% | 500,000 | 500,086 | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2022 | 3.000% | 100,000 | 99,904 | |
08/01/2023 | 3.000% | 200,000 | 198,930 | |
08/01/2024 | 3.000% | 100,000 | 98,884 | |
08/01/2025 | 3.000% | 200,000 | 196,169 | |
08/01/2026 | 3.000% | 250,000 | 242,601 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Hastings Independent School District No. 200(g) | ||||
Unlimited General Obligation Bonds | ||||
Student Credit Enhancement Program School Building | ||||
Series 2018A | ||||
02/01/2023 | 0.000% | 800,000 | 789,213 | |
Minnesota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021C (GNMA) | ||||
07/01/2023 | 0.450% | 240,000 | 234,489 | |
01/01/2024 | 0.600% | 380,000 | 367,279 | |
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2022 | 1.300% | 155,000 | 154,923 | |
07/01/2023 | 1.350% | 200,000 | 197,297 | |
Series 2020A (GNMA) | ||||
07/01/2024 | 1.450% | 125,000 | 121,335 | |
Series 2020D (GNMA) | ||||
07/01/2026 | 1.650% | 380,000 | 354,392 | |
Series 2020H | ||||
01/01/2023 | 0.550% | 190,000 | 188,287 | |
07/01/2023 | 0.600% | 215,000 | 210,816 | |
01/01/2024 | 0.650% | 180,000 | 174,604 | |
07/01/2024 | 0.700% | 190,000 | 182,196 | |
01/01/2025 | 0.800% | 345,000 | 327,382 | |
07/01/2025 | 0.850% | 365,000 | 343,017 | |
Total | 4,981,804 | |||
Mississippi 0.4% | ||||
County of Warren(d) | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
08/01/2027 | 1.600% | 1,000,000 | 955,537 | |
Mississippi Business Finance Corp.(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
03/01/2027 | 2.200% | 1,250,000 | 1,222,519 | |
State of Mississippi Gaming Tax | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/15/2024 | 5.000% | 750,000 | 790,448 | |
Total | 2,968,504 | |||
Missouri 0.1% | ||||
Missouri Development Finance Board | ||||
Refunding Revenue Bonds | ||||
Crackerneck Creek Project | ||||
Series 2021 | ||||
03/01/2025 | 5.000% | 425,000 | 441,225 | |
03/01/2026 | 5.000% | 300,000 | 313,633 | |
Total | 754,858 |
16 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Nebraska 0.8% | ||||
Central Plains Energy Project | ||||
Refunding Revenue Bonds | ||||
Project #3 | ||||
Series 2017A | ||||
09/01/2026 | 5.000% | 680,000 | 729,378 | |
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2018 (Mandatory Put 01/01/24) | ||||
03/01/2050 | 5.000% | 1,000,000 | 1,026,143 | |
Nebraska Investment Finance Authority | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C (FNMA) | ||||
03/01/2024 | 5.000% | 1,520,000 | 1,585,333 | |
Revenue Bonds | ||||
Series 2018C | ||||
09/01/2023 | 2.250% | 1,920,000 | 1,914,241 | |
Nebraska Public Power District | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
01/01/2023 | 5.000% | 1,135,000 | 1,158,745 | |
Total | 6,413,840 | |||
Nevada 1.3% | ||||
City of Carson City | ||||
Refunding Revenue Bonds | ||||
Tahoe Regional Medical Center | ||||
Series 2017 | ||||
09/01/2022 | 5.000% | 500,000 | 505,610 | |
City of North Las Vegas | ||||
Limited General Obligation Refunding Bonds | ||||
Building | ||||
Series 2018 (AGM) | ||||
06/01/2023 | 5.000% | 1,000,000 | 1,028,648 | |
City of Sparks(e) | ||||
Refunding Revenue Bonds | ||||
Sales Tax | ||||
Series 2019A | ||||
06/15/2024 | 2.500% | 345,000 | 338,842 | |
County of Clark Department of Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Junior Subordinated Series 2021B | ||||
07/01/2025 | 5.000% | 2,590,000 | 2,736,517 | |
Las Vegas McCarran International Airport | ||||
Series 2017 | ||||
07/01/2022 | 5.000% | 2,240,000 | 2,252,028 | |
Subordinated Series 2017A-1 | ||||
07/01/2022 | 5.000% | 3,000,000 | 3,016,108 | |
Total | 9,877,753 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Hampshire 0.5% | ||||
New Hampshire Business Finance Authority | ||||
Refunding Revenue Bonds | ||||
Springpoint Senior Living | ||||
Series 2021 | ||||
01/01/2025 | 4.000% | 290,000 | 295,640 | |
01/01/2026 | 4.000% | 265,000 | 270,879 | |
New Hampshire Business Finance Authority(c),(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2018 (Mandatory Put 07/01/24) | ||||
Muni Swap Index Yield + 0.375% 10/01/2033 | 0.815% | 2,000,000 | 1,989,969 | |
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 07/01/24) | ||||
07/01/2027 | 2.150% | 1,000,000 | 976,183 | |
Total | 3,532,671 | |||
New Jersey 6.1% | ||||
City of Newark | ||||
Unlimited General Obligation Refunding Bonds | ||||
School Bond Reserve Fund | ||||
Series 2020B | ||||
10/01/2022 | 5.000% | 400,000 | 405,010 | |
Garden State Preservation Trust(g) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2003B (AGM) | ||||
11/01/2022 | 0.000% | 5,000,000 | 4,947,611 | |
New Jersey Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Water Co. | ||||
Series 2020B (Mandatory Put 06/01/23) | ||||
11/01/2034 | 1.200% | 3,000,000 | 2,960,589 | |
New Jersey-American Water Company, Inc. Project | ||||
Series 2020 | ||||
12/01/2025 | 0.850% | 2,750,000 | 2,501,245 | |
New Jersey Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
School Facilities Construction | ||||
Series 2013 | ||||
03/01/2023 | 5.000% | 2,520,000 | 2,582,262 | |
Series 2015XX | ||||
06/15/2026 | 4.250% | 2,355,000 | 2,443,503 | |
Series 2017B | ||||
11/01/2022 | 5.000% | 2,285,000 | 2,322,520 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 17 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Self-Designated Social Bonds | ||||
Series 2021 | ||||
06/15/2022 | 5.000% | 200,000 | 200,917 | |
06/15/2023 | 5.000% | 220,000 | 226,741 | |
06/15/2024 | 5.000% | 600,000 | 626,693 | |
New Jersey Health Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Hackensack Meridian Health | ||||
Series 2017 | ||||
07/01/2022 | 5.000% | 790,000 | 794,735 | |
Hospital Asset Transformation Program | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,149,929 | |
Hospital Asset Transformation Project | ||||
Series 2017 | ||||
10/01/2026 | 5.000% | 650,000 | 701,208 | |
New Jersey Higher Education Student Assistance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
12/01/2029 | 2.375% | 140,000 | 138,176 | |
New Jersey Higher Education Student Assistance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
12/01/2022 | 5.000% | 1,000,000 | 1,018,124 | |
Revenue Bonds | ||||
Senior Series 2016-1A | ||||
12/01/2025 | 5.000% | 1,000,000 | 1,073,554 | |
12/01/2026 | 5.000% | 1,000,000 | 1,069,332 | |
Series 2015-1A | ||||
12/01/2027 | 4.000% | 2,040,000 | 2,058,678 | |
Series 2017-1A | ||||
12/01/2023 | 5.000% | 4,125,000 | 4,283,641 | |
Series 2020B | ||||
12/01/2022 | 5.000% | 1,150,000 | 1,170,843 | |
New Jersey Higher Education Student Assistance Authority(d),(f) | ||||
Senior Revenue Bonds | ||||
Series 2022B | ||||
12/01/2024 | 5.000% | 885,000 | 928,514 | |
New Jersey Housing & Mortgage Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020F (HUD) | ||||
04/01/2026 | 1.500% | 3,220,000 | 3,002,462 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
06/15/2026 | 5.000% | 250,000 | 268,613 | |
Series 2022AA | ||||
06/15/2027 | 5.000% | 3,185,000 | 3,453,998 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation System | ||||
Series 2018A | ||||
12/15/2023 | 5.000% | 250,000 | 259,229 | |
Revenue Bonds | ||||
Transportation System | ||||
Series 2010D | ||||
12/15/2023 | 5.000% | 2,375,000 | 2,462,679 | |
State of New Jersey | ||||
Unlimited General Obligation Bonds | ||||
COVID-19 Emergency Bonds | ||||
Series 2020 | ||||
06/01/2023 | 4.000% | 1,000,000 | 1,017,529 | |
Tobacco Settlement Financing Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
06/01/2022 | 5.000% | 2,000,000 | 2,005,390 | |
Total | 47,073,725 | |||
New Mexico 0.6% | ||||
City of Farmington(d) | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/22) | ||||
06/01/2040 | 1.200% | 1,500,000 | 1,498,495 | |
City of Farmington | ||||
Refunding Revenue Bonds | ||||
Public Service Co. of New Mexico San Juan Project | ||||
Series 2020 (Mandatory Put 06/01/24) | ||||
06/01/2040 | 1.150% | 2,000,000 | 1,916,565 | |
New Mexico Hospital Equipment Loan Council | ||||
Revenue Bonds | ||||
La Vida Expansion Project | ||||
Series 2019 | ||||
07/01/2024 | 2.375% | 1,000,000 | 978,794 | |
Total | 4,393,854 | |||
New York 12.8% | ||||
Chautauqua County Capital Resource Corp. | ||||
Refunding Revenue Bonds | ||||
NRG Energy Project | ||||
Series 2020 (Mandatory Put 04/03/23) | ||||
04/01/2042 | 1.300% | 5,000,000 | 4,917,632 | |
City of Schenectady(f) | ||||
Limited General Obligation Notes | ||||
BAN Series 2022 | ||||
05/05/2023 | 3.500% | 4,985,778 | 5,034,040 | |
County of Madison | ||||
Limited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/23/2022 | 1.500% | 2,680,000 | 2,674,867 |
18 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Montgomery | ||||
Limited General Obligation Notes | ||||
BAN Series 2021 | ||||
08/04/2022 | 1.000% | 5,050,000 | 5,044,012 | |
East Ramapo Central School District | ||||
Unlimited General Obligation Notes | ||||
Series 2021 | ||||
05/05/2022 | 1.250% | 600,000 | 600,057 | |
Huntington Local Development Corp. | ||||
Revenue Bonds | ||||
Fountaingate Garden Project | ||||
Series 2021 | ||||
07/01/2025 | 3.000% | 1,725,000 | 1,638,259 | |
Series 2021B | ||||
07/01/2027 | 4.000% | 1,000,000 | 963,757 | |
Keene Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/18/2022 | 1.500% | 7,600,000 | 7,587,296 | |
Long Island Power Authority(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018C (Mandatory Put 10/01/23) | ||||
0.7 x 1-month USD LIBOR + 0.750% 05/01/2033 | 1.068% | 1,000,000 | 995,120 | |
Metropolitan Transportation Authority | ||||
Refunding Revenue Bonds | ||||
Transportation | ||||
Subordinated Series 2021 (AGM) (Mandatory Put 04/01/24) | ||||
11/01/2032 | 0.737% | 500,000 | 499,628 | |
Revenue Bonds | ||||
BAN Series 2019D-1 | ||||
09/01/2022 | 5.000% | 1,500,000 | 1,515,431 | |
Green Bonds | ||||
Subordinated Series 2019A (Mandatory Put 11/15/24) | ||||
11/15/2048 | 5.000% | 1,000,000 | 1,048,279 | |
Series 2020A-1 | ||||
02/01/2023 | 5.000% | 5,750,000 | 5,851,678 | |
New York City Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainability Bonds | ||||
Series 2020 (FHA) (Mandatory Put 05/01/25) | ||||
11/01/2060 | 0.700% | 4,680,000 | 4,348,575 | |
Sustainable Development | ||||
Series 2021 (FHA) (Mandatory Put 07/01/25) | ||||
05/01/2061 | 0.600% | 4,000,000 | 3,688,988 | |
New York Liberty Development Corp. | ||||
Refunding Revenue Bonds | ||||
Green Bonds - 4 World Trade Center Project | ||||
Series 2021 | ||||
11/15/2031 | 1.900% | 950,000 | 769,160 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York State Dormitory Authority(e) | ||||
Refunding Revenue Bonds | ||||
Garnet Health Medical Center | ||||
Series 2017 | ||||
12/01/2022 | 5.000% | 600,000 | 610,979 | |
New York Transportation Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
American Airlines, Inc. Project | ||||
Series 2021 | ||||
08/01/2026 | 2.250% | 2,500,000 | 2,335,799 | |
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2023 | 5.000% | 3,450,000 | 3,543,774 | |
12/01/2025 | 5.000% | 1,400,000 | 1,465,522 | |
Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2022 | ||||
12/01/2026 | 5.000% | 2,500,000 | 2,631,022 | |
New York Transportation Development Corp. | ||||
Refunding Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2024 | 5.000% | 2,025,000 | 2,119,125 | |
Port Authority of New York & New Jersey(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021-226 | ||||
10/15/2026 | 5.000% | 2,670,000 | 2,878,625 | |
10/15/2027 | 5.000% | 1,625,000 | 1,770,790 | |
10/15/2028 | 5.000% | 1,750,000 | 1,923,578 | |
State of New York Mortgage Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019-221 | ||||
04/01/2024 | 1.800% | 2,000,000 | 1,955,675 | |
Social Bonds | ||||
Series 2021-232 | ||||
10/01/2023 | 5.000% | 460,000 | 474,892 | |
04/01/2024 | 5.000% | 355,000 | 369,080 | |
10/01/2024 | 5.000% | 370,000 | 387,462 | |
Series 2021-235 | ||||
04/01/2026 | 1.050% | 1,275,000 | 1,171,092 | |
10/01/2026 | 1.150% | 1,335,000 | 1,217,348 | |
04/01/2027 | 1.300% | 2,705,000 | 2,490,458 | |
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-240 | ||||
04/01/2024 | 0.750% | 1,595,000 | 1,528,778 | |
10/01/2024 | 0.850% | 1,970,000 | 1,867,492 | |
04/01/2025 | 0.950% | 2,485,000 | 2,329,230 | |
10/01/2025 | 1.050% | 1,000,000 | 929,610 | |
04/01/2026 | 1.200% | 1,220,000 | 1,127,238 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 19 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Triborough Bridge & Tunnel Authority(c) | ||||
Refunding Revenue Bonds | ||||
MTA Bridges and Tunnels | ||||
Series 2021 (Mandatory Put 02/01/24) | ||||
0.7 x SOFR + 0.380% 01/01/2032 | 0.568% | 1,958,988 | 1,954,771 | |
Village of Fishkill | ||||
Limited General Obligation Notes | ||||
BAN Series 2021 | ||||
10/21/2022 | 0.750% | 6,000,000 | 5,972,293 | |
Watervliet City School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2022 | ||||
04/26/2023 | 3.250% | 5,000,000 | 5,048,163 | |
Windsor Central School District | ||||
Unlimited General Obligation Notes | ||||
BAN Series 2021 | ||||
11/01/2022 | 1.500% | 3,950,000 | 3,944,535 | |
Total | 99,224,110 | |||
North Carolina 1.2% | ||||
North Carolina Eastern Municipal Power Agency(i) | ||||
Revenue Bonds | ||||
Series 1993 (FGIC) | ||||
01/01/2025 | 3.100% | 600,000 | 592,687 | |
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Ownership | ||||
Series 2021-47 (GNMA) | ||||
01/01/2028 | 1.050% | 1,580,000 | 1,416,819 | |
North Carolina Medical Care Commission | ||||
Prerefunded 09/01/23 Revenue Bonds | ||||
United Church Homes and Services | ||||
Series 2017 | ||||
09/01/2041 | 5.000% | 2,120,000 | 2,257,231 | |
Refunding Revenue Bonds | ||||
United Methodist Retirement Homes (The) | ||||
Series 2017 Escrowed to Maturity | ||||
10/01/2022 | 5.000% | 350,000 | 354,762 | |
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,572,015 | |
Series 2018 | ||||
01/01/2025 | 5.000% | 1,110,000 | 1,163,291 | |
Revenue Bonds | ||||
BAN Series 2020 | ||||
02/01/2024 | 5.000% | 1,500,000 | 1,557,051 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Turnpike Authority(g) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2026 | 0.000% | 780,000 | 665,818 | |
Total | 9,579,674 | |||
North Dakota 0.6% | ||||
North Dakota Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021C | ||||
01/01/2024 | 0.700% | 1,800,000 | 1,744,354 | |
07/01/2024 | 0.800% | 1,685,000 | 1,615,541 | |
01/01/2025 | 0.950% | 975,000 | 926,525 | |
Total | 4,286,420 | |||
Ohio 1.5% | ||||
City of Cleveland Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
01/01/2024 | 5.000% | 1,200,000 | 1,240,068 | |
Hillsdale Local School District | ||||
Certificate of Participation | ||||
Ohio School Facilities Project | ||||
Series 2020 (BAM) | ||||
12/01/2022 | 4.000% | 600,000 | 607,722 | |
12/01/2023 | 4.000% | 670,000 | 687,039 | |
Ohio Air Quality Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Electric Power Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
07/01/2028 | 2.100% | 6,000,000 | 5,818,591 | |
Ohio Turnpike & Infrastructure Commission(f) | ||||
Refunding Revenue Bonds | ||||
Junior Lien - Infrastructure Projects | ||||
Series 2022 | ||||
02/15/2026 | 5.000% | 1,250,000 | 1,332,576 | |
02/15/2027 | 5.000% | 1,000,000 | 1,082,239 | |
Port of Greater Cincinnati Development Authority | ||||
Revenue Bonds | ||||
Convention Center Hotel Acquisition and Demolition Project | ||||
Series 2020A | ||||
05/01/2023 | 3.000% | 1,000,000 | 994,323 | |
Total | 11,762,558 | |||
Oklahoma 0.9% | ||||
Oklahoma Development Finance Authority(d) | ||||
Revenue Bonds | ||||
Gilcrease Expressway West Project | ||||
Series 2020 | ||||
07/06/2023 | 1.625% | 4,600,000 | 4,522,602 |
20 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tulsa Airports Improvement Trust(d) | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2015A (BAM) | ||||
06/01/2035 | 5.000% | 1,000,000 | 1,046,518 | |
06/01/2045 | 5.000% | 1,280,000 | 1,339,544 | |
Total | 6,908,664 | |||
Pennsylvania 6.0% | ||||
Allegheny County Airport Authority(d) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
01/01/2027 | 5.000% | 1,155,000 | 1,240,303 | |
City of Philadelphia Airport(d) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2021 | ||||
07/01/2027 | 5.000% | 4,000,000 | 4,318,253 | |
Series 2017B | ||||
07/01/2022 | 5.000% | 500,000 | 502,562 | |
07/01/2026 | 5.000% | 3,360,000 | 3,595,075 | |
Series 2020C | ||||
07/01/2023 | 5.000% | 4,460,000 | 4,578,502 | |
07/01/2025 | 5.000% | 2,450,000 | 2,588,597 | |
Commonwealth Financing Authority | ||||
Revenue Bonds | ||||
Tobacco Master Settlement Payment | ||||
Series 2018 | ||||
06/01/2022 | 5.000% | 1,000,000 | 1,003,115 | |
Montgomery County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Meadowood Senior Living Project | ||||
Series 2018 | ||||
12/01/2022 | 4.000% | 250,000 | 251,703 | |
12/01/2023 | 5.000% | 320,000 | 330,484 | |
Northampton County General Purpose Authority(c) | ||||
Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2018 (Mandatory Put 08/15/24) | ||||
0.7 x 1-month USD LIBOR + 1.040% 08/15/2048 | 1.358% | 1,000,000 | 1,002,354 | |
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
PA Bridges Finco | ||||
Series 2015 | ||||
12/31/2029 | 5.000% | 5,000,000 | 5,274,433 | |
PA Bridges Finco LP | ||||
Series 2015 | ||||
06/30/2022 | 5.000% | 5,000,000 | 5,027,676 | |
Pennsylvania Bridges Finco LP - P3 Project | ||||
Series 2015 | ||||
12/31/2024 | 5.000% | 2,450,000 | 2,561,238 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pennsylvania Housing Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-134B | ||||
04/01/2023 | 5.000% | 1,000,000 | 1,023,833 | |
04/01/2025 | 5.000% | 435,000 | 459,903 | |
10/01/2025 | 5.000% | 300,000 | 319,746 | |
Pennsylvania Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Social Bonds | ||||
Series 2021-136 | ||||
04/01/2026 | 5.000% | 250,000 | 271,807 | |
04/01/2027 | 5.000% | 750,000 | 827,333 | |
10/01/2027 | 5.000% | 175,000 | 194,391 | |
Revenue Bonds | ||||
Series 2019-129 | ||||
10/01/2034 | 2.950% | 1,500,000 | 1,357,341 | |
Series 2020-132A | ||||
04/01/2026 | 1.450% | 1,400,000 | 1,326,067 | |
10/01/2026 | 1.500% | 1,500,000 | 1,412,799 | |
Pennsylvania Turnpike Commission(c) | ||||
Refunding Revenue Bonds | ||||
Series 2018A-1 | ||||
Muni Swap Index Yield + 0.600% 12/01/2023 | 1.040% | 5,000,000 | 5,000,806 | |
Pennsylvania Turnpike Commission | ||||
Revenue Bonds | ||||
Subordinated Series 2021B | ||||
12/01/2027 | 5.000% | 700,000 | 775,063 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2022 | 5.000% | 560,000 | 566,376 | |
09/01/2023 | 5.000% | 450,000 | 465,606 | |
Total | 46,275,366 | |||
Puerto Rico 1.2% | ||||
Commonwealth of Puerto Rico(h) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021-A1 | ||||
07/01/2025 | 5.375% | 4,000,000 | 4,132,036 | |
Puerto Rico Housing Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
Public Housing Project | ||||
Series 2020 | ||||
12/01/2022 | 5.000% | 2,500,000 | 2,543,854 | |
12/01/2023 | 5.000% | 2,500,000 | 2,596,146 | |
Total | 9,272,036 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 21 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rhode Island 0.9% | ||||
Rhode Island Housing & Mortgage Finance Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Homeownership Opportunity | ||||
Series 2016 | ||||
04/01/2026 | 2.600% | 1,235,000 | 1,211,177 | |
10/01/2026 | 2.650% | 1,575,000 | 1,542,539 | |
Rhode Island Student Loan Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
12/01/2022 | 5.000% | 1,300,000 | 1,323,940 | |
12/01/2023 | 5.000% | 750,000 | 778,844 | |
Revenue Bonds | ||||
Senior Program | ||||
Series 2019A | ||||
12/01/2023 | 5.000% | 650,000 | 674,383 | |
12/01/2024 | 5.000% | 875,000 | 923,235 | |
12/01/2035 | 2.875% | 690,000 | 675,576 | |
Total | 7,129,694 | |||
South Carolina 1.4% | ||||
Patriots Energy Group Financing Agency | ||||
Revenue Bonds | ||||
Series 2018A (Mandatory Put 02/01/24) | ||||
10/01/2048 | 4.000% | 2,550,000 | 2,586,944 | |
Patriots Energy Group Financing Agency(c) | ||||
Revenue Bonds | ||||
Series 2018B (Mandatory Put 02/01/24) | ||||
0.7 x 1-month USD LIBOR + 0.860% 10/01/2048 | 1.164% | 1,000,000 | 994,135 | |
South Carolina Ports Authority(d) | ||||
Prerefunded 07/01/25 Revenue Bonds | ||||
Series 2015 | ||||
07/01/2055 | 5.250% | 5,650,000 | 6,047,030 | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
01/01/2024 | 1.500% | 1,020,000 | 993,476 | |
07/01/2024 | 1.550% | 530,000 | 511,278 | |
Total | 11,132,863 | |||
Tennessee 0.6% | ||||
Memphis-Shelby County Airport Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2024 | 5.000% | 2,235,000 | 2,330,722 | |
Tennergy Corp. | ||||
Revenue Bonds | ||||
Series 2019A (Mandatory Put 10/01/24) | ||||
02/01/2050 | 5.000% | 585,000 | 609,428 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tennessee Energy Acquisition Corp. | ||||
Revenue Bonds | ||||
Project | ||||
Series 2017A (Mandatory Put 05/01/23) | ||||
05/01/2048 | 4.000% | 1,000,000 | 1,008,083 | |
Series 2006C | ||||
02/01/2023 | 5.000% | 790,000 | 804,671 | |
Total | 4,752,904 | |||
Texas 2.4% | ||||
Atascosa County Industrial Development Corp. | ||||
Refunding Revenue Bonds | ||||
San Miguel Electric Cooperative, Inc. Project | ||||
Series 2020 | ||||
12/15/2024 | 5.000% | 550,000 | 574,338 | |
12/15/2026 | 5.000% | 625,000 | 668,885 | |
Central Texas Regional Mobility Authority | ||||
Revenue Bonds | ||||
Subordinated BAN Series 2020F | ||||
01/01/2025 | 5.000% | 1,500,000 | 1,552,554 | |
Subordinated Series 2021C | ||||
01/01/2027 | 5.000% | 2,000,000 | 2,117,152 | |
City of Houston Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018C | ||||
07/01/2027 | 5.000% | 1,890,000 | 2,040,374 | |
City of San Antonio Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Lien | ||||
Subordinated Series 2019A | ||||
07/01/2024 | 5.000% | 1,000,000 | 1,042,829 | |
Fort Bend Independent School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A (Mandatory Put 08/01/22) | ||||
08/01/2049 | 1.950% | 830,000 | 829,938 | |
Harris County Cultural Education Facilities Finance Corp.(c) | ||||
Revenue Bonds | ||||
Natus Medical, Inc. | ||||
Series 2019 (Mandatory Put 12/04/24) | ||||
Muni Swap Index Yield + 0.570% 12/01/2049 | 1.010% | 2,000,000 | 2,006,533 | |
Irving Hospital Authority | ||||
Revenue Bonds | ||||
Baylor Scott & White Medical Center | ||||
Series 2017 | ||||
10/15/2022 | 5.000% | 215,000 | 218,223 | |
La Joya Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2013 | ||||
02/15/2028 | 5.000% | 2,270,000 | 2,531,156 |
22 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port Beaumont Navigation District(d),(e) | ||||
Revenue Bonds | ||||
Jefferson Gulf Coast Energy Project | ||||
Series 2021 | ||||
01/01/2026 | 1.875% | 700,000 | 654,334 | |
Tarrant County Cultural Education Facilities Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Buckner Retirement Services | ||||
Series 2017 | ||||
11/15/2022 | 5.000% | 1,000,000 | 1,015,611 | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2022 | 5.000% | 1,750,000 | 1,776,421 | |
12/15/2028 | 5.000% | 500,000 | 534,803 | |
Series 2021 | ||||
12/15/2025 | 5.000% | 1,000,000 | 1,048,940 | |
Total | 18,612,091 | |||
Utah 0.5% | ||||
County of Utah | ||||
Revenue Bonds | ||||
IHC Health Services, Inc. | ||||
Series 2018B | ||||
05/15/2056 | 5.000% | 3,750,000 | 3,757,099 | |
Virginia 0.7% | ||||
Amelia County Industrial Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2021 | ||||
04/01/2027 | 1.450% | 1,750,000 | 1,571,701 | |
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2023 | 5.000% | 740,000 | 764,140 | |
Henrico County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster-Canterbury Project | ||||
Series 2018 | ||||
10/01/2023 | 5.000% | 575,000 | 592,369 | |
Henrico County Economic Development Authority(i) | ||||
Revenue Bonds | ||||
Registered Savrs | ||||
Series 1992 Escrowed to Maturity (AGM) | ||||
08/23/2027 | 0.562% | 950,000 | 947,625 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
LifeSpire of Virginia | ||||
Series 2021 | ||||
12/01/2024 | 3.000% | 220,000 | 216,934 | |
12/01/2025 | 3.000% | 230,000 | 224,120 | |
12/01/2026 | 3.000% | 235,000 | 226,111 | |
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2023 | 5.000% | 425,000 | 431,884 | |
01/01/2024 | 5.000% | 500,000 | 516,860 | |
Total | 5,491,744 | |||
Washington 2.0% | ||||
Chelan County Public Utility District No. 1(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020C | ||||
07/01/2023 | 5.000% | 990,000 | 1,020,793 | |
07/01/2024 | 5.000% | 2,155,000 | 2,261,161 | |
07/01/2025 | 5.000% | 1,170,000 | 1,248,923 | |
Port of Seattle(d) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2021 | ||||
08/01/2025 | 5.000% | 2,035,000 | 2,165,720 | |
Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2019 | ||||
04/01/2023 | 5.000% | 2,000,000 | 2,050,410 | |
Series 2018B | ||||
05/01/2023 | 5.000% | 2,000,000 | 2,053,465 | |
Seattle Housing Authority | ||||
Revenue Bonds | ||||
Hinoki Apartments Project | ||||
Series 2020A | ||||
06/01/2023 | 3.000% | 3,000,000 | 3,020,854 | |
Washington State Housing Finance Commission(d) | ||||
Refunding Revenue Bonds | ||||
Single Family Program | ||||
Series 2015 | ||||
12/01/2022 | 2.600% | 1,030,000 | 1,032,463 | |
Washington State Housing Finance Commission | ||||
Revenue Bonds | ||||
Transforming Age Projects | ||||
Series 2019 | ||||
01/01/2026 | 2.375% | 425,000 | 403,214 | |
Total | 15,257,003 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 23 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
West Virginia 1.6% | ||||
West Virginia Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Appalachian Power Co. Amos Project | ||||
Series 2019 (Mandatory Put 04/01/24) | ||||
03/01/2040 | 2.550% | 1,000,000 | 996,263 | |
West Virginia Hospital Finance Authority | ||||
Prerefunded 06/01/23 Revenue Bonds | ||||
United Health System Obligation Group | ||||
Series 2013 | ||||
06/01/2044 | 5.500% | 10,500,000 | 10,840,416 | |
Refunding Revenue Bonds | ||||
Cabell Huntington Hospital Obligation | ||||
Series 2018 | ||||
01/01/2023 | 5.000% | 555,000 | 565,132 | |
Total | 12,401,811 | |||
Wisconsin 2.1% | ||||
City of Milwaukee | ||||
Unlimited General Obligation Refunding Bonds | ||||
Promissory Notes | ||||
Series 2020N-4 | ||||
04/01/2024 | 5.000% | 1,500,000 | 1,566,049 | |
Public Finance Authority | ||||
Prerefunded 10/01/22 Revenue Bonds | ||||
Voyager Foundation, Inc. Project | ||||
Series 2012A | ||||
10/01/2042 | 6.200% | 1,715,000 | 1,747,368 | |
Refunding Revenue Bonds | ||||
Retirement Housing Foundation | ||||
Series 2017 | ||||
11/15/2022 | 5.000% | 500,000 | 507,886 | |
Public Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2016 | ||||
05/01/2027 | 2.875% | 5,350,000 | 5,129,143 | |
Wisconsin Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Marshfield Clinic Health System, Inc. | ||||
Series 2020 (Mandatory Put 02/15/25) | ||||
02/15/2052 | 5.000% | 3,500,000 | 3,685,136 | |
Revenue Bonds | ||||
Aspirus, Inc. Obligation Group | ||||
Series 2017 | ||||
08/15/2022 | 5.000% | 200,000 | 202,022 | |
08/15/2023 | 5.000% | 205,000 | 212,333 | |
Wisconsin Housing & Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017B (FHA) | ||||
09/01/2022 | 2.150% | 870,000 | 870,670 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2018A | ||||
09/01/2022 | 2.600% | 710,000 | 711,212 | |
Wisconsin Housing & Economic Development Authority | ||||
Revenue Bonds | ||||
Social Bonds | ||||
Series 2021 | ||||
03/01/2024 | 0.450% | 500,000 | 480,710 | |
Series 2021C (GNMA) | ||||
03/01/2025 | 0.700% | 425,000 | 402,597 | |
03/01/2028 | 1.400% | 700,000 | 634,406 | |
Total | 16,149,532 | |||
Wyoming 0.1% | ||||
Wyoming Community Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020-3 | ||||
06/01/2023 | 5.000% | 955,000 | 980,811 | |
Total Municipal Bonds (Cost $694,306,638) | 669,941,390 | |||
Municipal Short Term 11.2% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
California 0.8% | ||||
California Municipal Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Republic Services, Inc. Project | ||||
Series 2021 (Mandatory Put 04/01/22) | ||||
07/01/2041 | 1.880% | 6,000,000 | 5,992,868 | |
Kentucky 0.4% | ||||
Kentucky Economic Development Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Republic Services | ||||
Series 2016A (Mandatory Put 06/01/22) | ||||
04/01/2031 | 1.050% | 3,200,000 | 3,198,029 | |
Massachusetts 4.8% | ||||
Brockton Area Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2021 | ||||
07/29/2022 | 1.500% | 6,300,000 | 6,295,904 | |
Pioneer Valley Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2021 | ||||
07/15/2022 | 1.460% | 5,000,000 | 5,000,267 | |
Southeastern Massachusetts Regional 911 District | ||||
Limited General Obligation Notes | ||||
Series 2021 | ||||
10/13/2022 | 1.670% | 5,740,093 | 5,728,910 |
24 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Short Term (continued) | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Southeastern Regional Transit Authority | ||||
Revenue Notes | ||||
Series 2021 | ||||
08/19/2022 | 1.510% | 6,000,000 | 5,990,440 | |
Town of Orange | ||||
Limited General Obligation Notes | ||||
Series 2021 | ||||
08/25/2022 | 1.560% | 8,895,000 | 8,878,727 | |
Worcester Regional Transit Authority | ||||
Revenue Notes | ||||
RAN Series 2021 | ||||
06/24/2022 | 1.650% | 5,000,000 | 4,996,798 | |
Total | 36,891,046 | |||
New York 4.7% | ||||
Board of Cooperative Educational Services for the Sole Supervisory District | ||||
Revenue Notes | ||||
RAN Series 2021 | ||||
06/17/2022 | 1.390% | 7,000,000 | 7,000,828 | |
City of Long Beach | ||||
Limited General Obligation Notes | ||||
BAN Series 2022A | ||||
02/17/2023 | 3.040% | 5,000,000 | 4,959,019 | |
County of Chemung | ||||
Limited General Obligation Notes | ||||
Series 2021 | ||||
12/29/2022 | 1.920% | 4,275,000 | 4,263,010 | |
Henrietta Fire District | ||||
Limited General Obligation Notes | ||||
Series 2022 | ||||
08/10/2022 | 1.550% | 3,628,688 | 3,633,149 | |
Orange & Ulster Counties Board of Cooperative Educational Services Sole Supervisory District | ||||
Revenue Notes | ||||
Series 2021 | ||||
07/22/2022 | 1.460% | 5,000,000 | 4,994,572 | |
Poughkeepsie School District | ||||
Unlimited General Obligation Notes | ||||
Series 2021 | ||||
06/28/2022 | 1.410% | 6,000,000 | 5,995,931 | |
Town of Oyster Bay | ||||
Limited General Obligation Notes | ||||
Series 2022 | ||||
03/09/2023 | 2.180% | 5,000,000 | 5,034,456 | |
Total | 35,880,965 |
Municipal Short Term (continued) | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Oregon 0.1% | ||||
County of Gilliam(a),(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019A (Mandatory Put 05/02/22) | ||||
08/01/2025 | 2.390% | 1,000,000 | 1,000,037 | |
Texas 0.4% | ||||
Mission Economic Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2020 (Mandatory Put 06/01/22) | ||||
07/01/2040 | 1.000% | 3,300,000 | 3,297,890 | |
Virginia 0.0% | ||||
Gloucester County Economic Development Authority(a),(d) | ||||
Revenue Bonds | ||||
Waste Management Services | ||||
Series 2019 (Mandatory Put 05/02/22) | ||||
09/01/2038 | 2.390% | 300,000 | 300,000 | |
Total Municipal Short Term (Cost $86,930,134) | 86,560,835 |
Money Market Funds 0.0% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.318%(j) | 88,029 | 88,020 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.283%(j) | 102,238 | 102,238 |
Total Money Market Funds (Cost $190,258) | 190,258 | |
Total Investments in Securities (Cost $797,927,030) | 773,192,483 | |
Other Assets & Liabilities, Net | (275,670) | |
Net Assets | $772,916,813 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 25 |
April 30, 2022
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 5-Year Note | (300) | 06/2022 | USD | (33,801,563) | 539,694 | — |
(a) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of April 30, 2022. |
(b) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(c) | Variable rate security. The interest rate shown was the current rate as of April 30, 2022. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2022, the total value of these securities amounted to $17,743,720, which represents 2.30% of total net assets. |
(f) | Represents a security purchased on a when-issued basis. |
(g) | Zero coupon bond. |
(h) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At April 30, 2022, the total value of these securities amounted to $12,273,201, which represents 1.59% of total net assets. |
(i) | Represents a variable rate security where the coupon adjusts periodically through an auction process. |
(j) | The rate shown is the seven-day current annualized yield at April 30, 2022. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FGIC | Financial Guaranty Insurance Corporation |
FHA | Federal Housing Authority |
FNMA | Federal National Mortgage Association |
GNMA | Government National Mortgage Association |
HUD | Department of Housing and Urban Development |
LIBOR | London Interbank Offered Rate |
NPFGC | National Public Finance Guarantee Corporation |
RAN | Revenue Anticipation Note |
SOFR | Secured Overnight Financing Rate |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
26 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Fixed Income Funds | — | 5,000,000 | — | 5,000,000 |
Floating Rate Notes | — | 11,500,000 | — | 11,500,000 |
Municipal Bonds | — | 669,941,390 | — | 669,941,390 |
Municipal Short Term | — | 86,560,835 | — | 86,560,835 |
Money Market Funds | 190,258 | — | — | 190,258 |
Total Investments in Securities | 190,258 | 773,002,225 | — | 773,192,483 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 539,694 | — | — | 539,694 |
Total | 729,952 | 773,002,225 | — | 773,732,177 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 27 |
April 30, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $797,927,030) | $773,192,483 |
Cash | 38,325 |
Margin deposits on: | |
Futures contracts | 360,000 |
Receivable for: | |
Investments sold | 14,334,541 |
Investments sold on a delayed delivery basis | 1,088,990 |
Capital shares sold | 1,095,744 |
Interest | 7,888,988 |
Variation margin for futures contracts | 51,563 |
Expense reimbursement due from Investment Manager | 3,479 |
Prepaid expenses | 8,913 |
Total assets | 798,063,026 |
Liabilities | |
Payable for: | |
Investments purchased | 4,654,967 |
Investments purchased on a delayed delivery basis | 18,065,996 |
Capital shares purchased | 1,480,866 |
Distributions to shareholders | 672,714 |
Management services fees | 9,117 |
Distribution and/or service fees | 583 |
Transfer agent fees | 32,088 |
Compensation of board members | 195,495 |
Other expenses | 34,387 |
Total liabilities | 25,146,213 |
Net assets applicable to outstanding capital stock | $772,916,813 |
Represented by | |
Paid in capital | 802,905,254 |
Total distributable earnings (loss) | (29,988,441) |
Total - representing net assets applicable to outstanding capital stock | $772,916,813 |
28 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Class A | |
Net assets | $79,025,643 |
Shares outstanding | 7,891,891 |
Net asset value per share | $10.01 |
Maximum sales charge | 1.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.11 |
Advisor Class | |
Net assets | $76,763,760 |
Shares outstanding | 7,658,599 |
Net asset value per share | $10.02 |
Class C | |
Net assets | $1,608,374 |
Shares outstanding | 160,934 |
Net asset value per share | $9.99 |
Institutional Class | |
Net assets | $107,619,831 |
Shares outstanding | 10,747,689 |
Net asset value per share | $10.01 |
Institutional 2 Class | |
Net assets | $127,701,803 |
Shares outstanding | 12,761,507 |
Net asset value per share | $10.01 |
Institutional 3 Class | |
Net assets | $380,197,402 |
Shares outstanding | 37,984,768 |
Net asset value per share | $10.01 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 29 |
Year Ended April 30, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $7,462 |
Interest | 10,027,283 |
Total income | 10,034,745 |
Expenses: | |
Management services fees | 3,328,375 |
Distribution and/or service fees | |
Class A | 189,619 |
Class C | 15,999 |
Transfer agent fees | |
Class A | 74,407 |
Advisor Class | 44,059 |
Class C | 1,576 |
Institutional Class | 103,348 |
Institutional 2 Class | 61,955 |
Institutional 3 Class | 23,773 |
Compensation of board members | 38,595 |
Custodian fees | 18,411 |
Printing and postage fees | 25,775 |
Registration fees | 103,188 |
Audit fees | 39,690 |
Legal fees | 19,429 |
Compensation of chief compliance officer | 128 |
Other | 18,994 |
Total expenses | 4,107,321 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,159,421) |
Fees waived by transfer agent | |
Institutional 2 Class | (1,429) |
Institutional 3 Class | (23,773) |
Expense reduction | (20) |
Total net expenses | 2,922,678 |
Net investment income | 7,112,067 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (1,718,130) |
Futures contracts | 1,309,354 |
Net realized loss | (408,776) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (36,190,239) |
Futures contracts | 559,488 |
Net change in unrealized appreciation (depreciation) | (35,630,751) |
Net realized and unrealized loss | (36,039,527) |
Net decrease in net assets resulting from operations | $(28,927,460) |
30 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | |
Operations | ||
Net investment income | $7,112,067 | $9,548,681 |
Net realized gain (loss) | (408,776) | 1,522,327 |
Net change in unrealized appreciation (depreciation) | (35,630,751) | 13,208,854 |
Net increase (decrease) in net assets resulting from operations | (28,927,460) | 24,279,862 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (487,335) | (678,849) |
Advisor Class | (376,044) | (20,767) |
Class C | (295) | (7,089) |
Institutional Class | (939,542) | (1,228,303) |
Institutional 2 Class | (1,125,097) | (1,047,089) |
Institutional 3 Class | (4,250,161) | (6,511,584) |
Total distributions to shareholders | (7,178,474) | (9,493,681) |
Increase (decrease) in net assets from capital stock activity | 103,384,218 | (45,626,148) |
Total increase (decrease) in net assets | 67,278,284 | (30,839,967) |
Net assets at beginning of year | 705,638,529 | 736,478,496 |
Net assets at end of year | $772,916,813 | $705,638,529 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 31 |
Year Ended | Year Ended | |||
April 30, 2022 | April 30, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 4,360,164 | 45,064,367 | 2,612,673 | 27,249,549 |
Fund reorganization | 329,765 | 3,440,076 | — | — |
Distributions reinvested | 41,180 | 425,903 | 55,153 | 575,463 |
Redemptions | (3,750,812) | (38,771,216) | (1,799,873) | (18,778,018) |
Net increase | 980,297 | 10,159,130 | 867,953 | 9,046,994 |
Advisor Class | ||||
Subscriptions | 1,941,396 | 20,106,687 | 119,565 | 1,246,949 |
Fund reorganization | 9,031,436 | 94,310,363 | — | — |
Distributions reinvested | 14,451 | 148,451 | 1,089 | 11,383 |
Redemptions | (3,509,949) | (35,966,043) | (104,979) | (1,089,868) |
Net increase | 7,477,334 | 78,599,458 | 15,675 | 168,464 |
Class C | ||||
Subscriptions | 50,002 | 515,694 | 36,887 | 385,098 |
Distributions reinvested | 28 | 291 | 610 | 6,352 |
Redemptions | (58,838) | (606,710) | (205,718) | (2,144,595) |
Net decrease | (8,808) | (90,725) | (168,221) | (1,753,145) |
Institutional Class | ||||
Subscriptions | 6,967,017 | 71,906,809 | 6,410,387 | 66,896,172 |
Distributions reinvested | 80,211 | 829,511 | 100,600 | 1,049,830 |
Redemptions | (5,353,606) | (54,974,865) | (5,926,639) | (61,906,942) |
Net increase | 1,693,622 | 17,761,455 | 584,348 | 6,039,060 |
Institutional 2 Class | ||||
Subscriptions | 7,090,797 | 73,918,172 | 2,177,094 | 22,699,582 |
Distributions reinvested | 92,765 | 958,128 | 82,771 | 863,378 |
Redemptions | (2,655,624) | (27,372,308) | (988,288) | (10,315,639) |
Net increase | 4,527,938 | 47,503,992 | 1,271,577 | 13,247,321 |
Institutional 3 Class | ||||
Subscriptions | 5,335,308 | 55,479,193 | 2,192,795 | 22,911,309 |
Distributions reinvested | 6,526 | 67,287 | 5,633 | 58,755 |
Redemptions | (10,258,937) | (106,095,572) | (9,146,804) | (95,344,906) |
Net decrease | (4,917,103) | (50,549,092) | (6,948,376) | (72,374,842) |
Total net increase (decrease) | 9,753,280 | 103,384,218 | (4,377,044) | (45,626,148) |
32 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 4/30/2022 | $10.46 | 0.07 | (0.45) | (0.38) | (0.07) | (0.07) |
Year Ended 4/30/2021 | $10.26 | 0.11 | 0.20 | 0.31 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.35 | 0.15 | (0.08) | 0.07 | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.26 | 0.15 | 0.09 | 0.24 | (0.15) | (0.15) |
Year Ended 4/30/2018 | $10.36 | 0.11 | (0.09) | 0.02 | (0.12) | (0.12) |
Advisor Class | ||||||
Year Ended 4/30/2022 | $10.48 | 0.10 | (0.47) | (0.37) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.27 | 0.13 | 0.21 | 0.34 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.36 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.27 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.14 | (0.09) | 0.05 | (0.14) | (0.14) |
Class C | ||||||
Year Ended 4/30/2022 | $10.46 | (0.01) | (0.46) | (0.47) | (0.00)(e) | (0.00)(e) |
Year Ended 4/30/2021 | $10.25 | 0.03 | 0.21 | 0.24 | (0.03) | (0.03) |
Year Ended 4/30/2020 | $10.34 | 0.08 | (0.09) | (0.01) | (0.08) | (0.08) |
Year Ended 4/30/2019 | $10.25 | 0.07 | 0.10 | 0.17 | (0.08) | (0.08) |
Year Ended 4/30/2018 | $10.35 | 0.03 | (0.09) | (0.06) | (0.04) | (0.04) |
Institutional Class | ||||||
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.45) | (0.36) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.26 | 0.13 | 0.20 | 0.33 | (0.13) | (0.13) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.18) | (0.18) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.36 | 0.13 | (0.09) | 0.04 | (0.14) | (0.14) |
Institutional 2 Class | ||||||
Year Ended 4/30/2022 | $10.46 | 0.09 | (0.44) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.18 | (0.09) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.26 | 0.18 | 0.09 | 0.27 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.35 | 0.15 | (0.09) | 0.06 | (0.15) | (0.15) |
34 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 4/30/2022 | $10.01 | (3.68%) | 0.81% | 0.66%(c) | 0.63% | 69% | $79,026 |
Year Ended 4/30/2021 | $10.46 | 2.99% | 0.81% | 0.66%(c) | 1.02% | 46% | $72,327 |
Year Ended 4/30/2020 | $10.26 | 0.63% | 0.80%(d) | 0.66%(c),(d) | 1.48% | 58% | $61,987 |
Year Ended 4/30/2019 | $10.35 | 2.39% | 0.81% | 0.66%(c) | 1.44% | 55% | $68,355 |
Year Ended 4/30/2018 | $10.26 | 0.16% | 0.81% | 0.67%(c) | 1.08% | 36% | $83,580 |
Advisor Class | |||||||
Year Ended 4/30/2022 | $10.02 | (3.53%) | 0.57% | 0.41%(c) | 0.93% | 69% | $76,764 |
Year Ended 4/30/2021 | $10.48 | 3.34% | 0.56% | 0.41%(c) | 1.26% | 46% | $1,899 |
Year Ended 4/30/2020 | $10.27 | 0.89% | 0.55%(d) | 0.41%(c),(d) | 1.72% | 58% | $1,701 |
Year Ended 4/30/2019 | $10.36 | 2.64% | 0.56% | 0.41%(c) | 1.74% | 55% | $2,027 |
Year Ended 4/30/2018 | $10.27 | 0.51% | 0.56% | 0.42%(c) | 1.33% | 36% | $607 |
Class C | |||||||
Year Ended 4/30/2022 | $9.99 | (4.48%) | 1.56% | 1.41%(c) | (0.11%) | 69% | $1,608 |
Year Ended 4/30/2021 | $10.46 | 2.32% | 1.56% | 1.41%(c) | 0.30% | 46% | $1,775 |
Year Ended 4/30/2020 | $10.25 | (0.12%) | 1.55%(d) | 1.41%(c),(d) | 0.74% | 58% | $3,464 |
Year Ended 4/30/2019 | $10.34 | 1.62% | 1.55% | 1.41%(c) | 0.69% | 55% | $6,322 |
Year Ended 4/30/2018 | $10.25 | (0.59%) | 1.56% | 1.42%(c) | 0.33% | 36% | $10,327 |
Institutional Class | |||||||
Year Ended 4/30/2022 | $10.01 | (3.44%) | 0.56% | 0.41%(c) | 0.88% | 69% | $107,620 |
Year Ended 4/30/2021 | $10.46 | 3.25% | 0.56% | 0.41%(c) | 1.27% | 46% | $94,743 |
Year Ended 4/30/2020 | $10.26 | 0.89% | 0.55%(d) | 0.41%(c),(d) | 1.72% | 58% | $86,870 |
Year Ended 4/30/2019 | $10.35 | 2.64% | 0.56% | 0.41%(c) | 1.70% | 55% | $104,300 |
Year Ended 4/30/2018 | $10.26 | 0.40% | 0.58% | 0.44%(c) | 1.21% | 36% | $112,699 |
Institutional 2 Class | |||||||
Year Ended 4/30/2022 | $10.01 | (3.40%) | 0.51% | 0.37% | 0.92% | 69% | $127,702 |
Year Ended 4/30/2021 | $10.46 | 3.39% | 0.53% | 0.37% | 1.31% | 46% | $86,120 |
Year Ended 4/30/2020 | $10.25 | 0.83% | 0.51%(d) | 0.37%(d) | 1.77% | 58% | $71,372 |
Year Ended 4/30/2019 | $10.35 | 2.69% | 0.51% | 0.36% | 1.76% | 55% | $27,329 |
Year Ended 4/30/2018 | $10.26 | 0.55% | 0.51% | 0.37% | 1.41% | 36% | $18,813 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 35 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Year Ended 4/30/2022 | $10.46 | 0.10 | (0.45) | (0.35) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.25 | 0.14 | 0.21 | 0.35 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.35 | 0.19 | (0.10) | 0.09 | (0.19) | (0.19) |
Year Ended 4/30/2019 | $10.25 | 0.18 | 0.11 | 0.29 | (0.19) | (0.19) |
Year Ended 4/30/2018 | $10.36 | 0.15 | (0.11) | 0.04 | (0.15) | (0.15) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | Rounds to zero. |
36 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $10.01 | (3.36%) | 0.47% | 0.32% | 0.97% | 69% | $380,197 |
Year Ended 4/30/2021 | $10.46 | 3.44% | 0.48% | 0.32% | 1.37% | 46% | $448,774 |
Year Ended 4/30/2020 | $10.25 | 0.88% | 0.46%(d) | 0.32%(d) | 1.82% | 58% | $511,085 |
Year Ended 4/30/2019 | $10.35 | 2.84% | 0.46% | 0.32% | 1.78% | 55% | $670,432 |
Year Ended 4/30/2018 | $10.25 | 0.41% | 0.46% | 0.33% | 1.50% | 36% | $911,594 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 37 |
April 30, 2022
38 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 39 |
April 30, 2022
40 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 539,694* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 1,309,354 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 559,488 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 39,390,460 |
* | Based on the ending quarterly outstanding amounts for the year ended April 30, 2022. |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 41 |
April 30, 2022
42 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.11 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 43 |
April 30, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 1.00 | 0.50(a) | 121,229 |
Class C | — | 1.00(b) | 250 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through August 31, 2024 | |
Class A | 0.66% |
Advisor Class | 0.41 |
Class C | 1.41 |
Institutional Class | 0.41 |
Institutional 2 Class | 0.37 |
Institutional 3 Class | 0.32 |
44 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(1) | (49,467) | 49,468 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
96,825 | 7,081,649 | — | 7,178,474 | 5,908 | 9,487,773 | — | 9,493,681 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
— | 961,281 | — | (5,851,962) | (24,230,640) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
797,962,817 | 362,750 | (24,593,390) | (24,230,640) |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 45 |
April 30, 2022
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(4,735,491) | (1,116,471) | (5,851,962) | — |
46 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Shares | |
Class A | 329,765 |
Advisor Class | 9,031,436 |
($) | |
Net investment income | 7,995,000 |
Net realized loss | (310,000) |
Net change in unrealized appreciation/(depreciation) | (36,561,000) |
Net decrease in net assets from operations | (28,876,000) |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 47 |
April 30, 2022
48 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 49 |
April 30, 2022
50 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 51 |
Exempt- interest dividends | |
98.65% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
52 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 53 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
54 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 174 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 176 | Director, Blue Cross Blue Shield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation since 1998 |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 55 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
56 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Short Term Municipal Bond Fund | Annual Report 2022 | 57 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
58 | Columbia Short Term Municipal Bond Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2022
3 | |
5 | |
7 | |
8 | |
20 | |
21 | |
22 | |
24 | |
28 | |
38 | |
39 | |
39 | |
45 |
(Unaudited)
Average annual total returns (%) (for the period ended April 30, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 09/09/02 | -6.96 | 1.11 | 1.88 |
Including sales charges | -9.74 | 0.50 | 1.57 | ||
Advisor Class* | 03/19/13 | -6.65 | 1.36 | 2.14 | |
Class C | Excluding sales charges | 09/11/02 | -7.65 | 0.35 | 1.11 |
Including sales charges | -8.57 | 0.35 | 1.11 | ||
Institutional Class | 08/19/02 | -6.74 | 1.36 | 2.13 | |
Institutional 2 Class* | 11/08/12 | -6.72 | 1.42 | 2.20 | |
Institutional 3 Class* | 03/01/17 | -6.66 | 1.47 | 2.18 | |
Bloomberg California 3-15 Year Blend Municipal Bond Index | -7.48 | 1.41 | 2.24 | ||
Bloomberg 3-15 Year Blend Municipal Bond Index | -7.28 | 1.62 | 2.21 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at April 30, 2022) | |
AAA rating | 2.6 |
AA rating | 51.1 |
A rating | 30.4 |
BBB rating | 11.6 |
BB rating | 1.9 |
Not rated | 2.4 |
Total | 100.0 |
4 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
• | The Fund’s duration positioning contributed to the Fund’s performance versus the benchmark during the period. |
○ | We began to reduce the Fund’s duration early last summer as our view on the market was becoming less constructive. Building inflation pressures, the Fed’s plans to wind down its asset purchases and begin a cycle of raising interest rates prompted us to transition to a more defensive posture. |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 5 |
(Unaudited)
○ | The Fund’s duration relative to its benchmark went from just above the benchmark at the beginning of the period to almost one-half year short of its benchmark. This positioning change benefited the Fund as interest rates rose quickly at the start of 2022. |
• | The Fund’s pre-refunded bonds, which had an average maturity of less than two years, and exposure to bonds maturing in less than two years also contributed to performance. In an environment of rising interest rates, shorter maturity bonds tend to outperform their longer maturity counterparts. |
• | The timing of some Fund purchases in late July - early August 2021 and again in December 2021 led to poor total returns for the Fund as these purchases were executed at the low in yields for the period. |
• | Exposure to 4% coupon bonds, while less than the benchmark, was not helpful to performance as this coupon structure underperformed during the selloff. |
• | Lastly, the Fund’s overweighting to lower investment-grade bonds detracted from performance as they underperformed higher rated bonds. |
6 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
November 1, 2021 — April 30, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 930.20 | 1,021.24 | 3.56 | 3.73 | 0.74 |
Advisor Class | 1,000.00 | 1,000.00 | 932.10 | 1,022.49 | 2.36 | 2.47 | 0.49 |
Class C | 1,000.00 | 1,000.00 | 927.60 | 1,017.50 | 7.16 | 7.49 | 1.49 |
Institutional Class | 1,000.00 | 1,000.00 | 932.10 | 1,022.49 | 2.36 | 2.47 | 0.49 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 932.00 | 1,022.69 | 2.17 | 2.27 | 0.45 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 931.60 | 1,022.94 | 1.93 | 2.02 | 0.40 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 7 |
April 30, 2022
Floating Rate Notes 0.1% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.1% | ||||
State of California(a),(b) | ||||
Unlimited General Obligation Bonds | ||||
Kindergarten | ||||
Series 2013A2 (State Street) | ||||
05/01/2034 | 0.300% | 335,000 | 335,000 | |
Total Floating Rate Notes (Cost $335,000) | 335,000 | |||
Municipal Bonds 95.5% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 10.3% | ||||
City of Los Angeles Department of Airports | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2015C | ||||
05/15/2029 | 5.000% | 2,410,000 | 2,558,042 | |
Subordinated Series 2019C | ||||
05/15/2035 | 5.000% | 3,975,000 | 4,386,259 | |
05/15/2037 | 5.000% | 2,250,000 | 2,477,809 | |
Revenue Bonds | ||||
Subordinated Series 2017B | ||||
05/15/2029 | 5.000% | 330,000 | 361,723 | |
05/15/2030 | 5.000% | 500,000 | 546,694 | |
City of Los Angeles Department of Airports(c) | ||||
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2019 | ||||
05/15/2038 | 5.000% | 3,500,000 | 3,771,462 | |
Senior Series 2020C | ||||
05/15/2038 | 5.000% | 3,000,000 | 3,269,815 | |
County of Orange Airport | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
07/01/2029 | 5.000% | 200,000 | 220,609 | |
Series 2019B | ||||
07/01/2029 | 5.000% | 275,000 | 303,338 | |
County of Sacramento Airport System | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016B | ||||
07/01/2036 | 5.000% | 1,750,000 | 1,871,366 | |
Subordinated Series 2018E | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,095,770 | |
Norman Y. Mineta San Jose International Airport | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2027 | 5.000% | 2,000,000 | 2,078,682 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2014C | ||||
03/01/2030 | 5.000% | 2,500,000 | 2,596,083 | |
San Diego County Regional Airport Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,088,478 | |
07/01/2034 | 5.000% | 700,000 | 758,427 | |
San Diego County Regional Airport Authority(c) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
07/01/2036 | 5.000% | 1,540,000 | 1,661,314 | |
Subordinated Series 2020 | ||||
07/01/2036 | 5.000% | 495,000 | 538,665 | |
07/01/2039 | 5.000% | 400,000 | 433,388 | |
Revenue Bonds | ||||
Subordinated Series 2021B | ||||
07/01/2039 | 4.000% | 250,000 | 245,114 | |
San Francisco City & County Airport Commission - San Francisco International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Series 2016A | ||||
05/01/2026 | 5.000% | 1,975,000 | 2,139,601 | |
San Francisco Airport Commission Project | ||||
Series 2019 | ||||
05/01/2036 | 5.000% | 3,205,000 | 3,544,482 | |
San Francisco City & County Airport Commission - San Francisco International Airport(c) | ||||
Refunding Revenue Bonds | ||||
Series 2019H | ||||
05/01/2026 | 5.000% | 1,140,000 | 1,218,974 | |
Series 2020A-2 | ||||
05/01/2039 | 4.000% | 750,000 | 742,685 | |
Revenue Bonds | ||||
Series 2019E | ||||
05/01/2037 | 5.000% | 4,450,000 | 4,792,043 | |
Total | 42,700,823 | |||
Charter Schools 3.8% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Equitable School Revolving Fund | ||||
Series 2019 | ||||
11/01/2039 | 5.000% | 275,000 | 296,127 | |
California School Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2029 | 5.000% | 1,000,000 | 1,039,862 | |
08/01/2030 | 5.000% | 1,380,000 | 1,430,527 | |
08/01/2031 | 5.000% | 850,000 | 879,157 |
8 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Alliance College-Ready Public Schools | ||||
Series 2015 | ||||
07/01/2030 | 5.000% | 3,400,000 | 3,516,800 | |
Aspire Public Schools Obligation Group | ||||
Series 2021 | ||||
08/01/2036 | 4.000% | 325,000 | 309,778 | |
Green Dot Public School Project | ||||
Series 2015A | ||||
08/01/2035 | 5.000% | 1,010,000 | 1,038,821 | |
Series 2018 | ||||
08/01/2038 | 5.000% | 1,000,000 | 1,038,713 | |
KIPP Los Angeles Projects | ||||
Series 2015A | ||||
07/01/2035 | 5.000% | 1,250,000 | 1,283,000 | |
Series 2017 | ||||
07/01/2037 | 5.000% | 3,090,000 | 3,206,247 | |
River Springs Charter School Project | ||||
Series 2015 | ||||
07/01/2025 | 5.250% | 1,200,000 | 1,222,486 | |
California School Finance Authority | ||||
Revenue Bonds | ||||
KIPP Los Angeles Projects | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 600,000 | 611,895 | |
Total | 15,873,413 | |||
Disposal 0.2% | ||||
California Municipal Finance Authority(d) | ||||
Revenue Bonds | ||||
Waste Management, Inc. | ||||
Series 2009A (Mandatory Put 02/03/25) | ||||
02/01/2039 | 1.300% | 750,000 | 711,812 | |
Higher Education 6.1% | ||||
California Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Loma Linda University | ||||
Series 2017A | ||||
04/01/2034 | 5.000% | 1,485,000 | 1,608,689 | |
04/01/2035 | 5.000% | 2,000,000 | 2,163,773 | |
Series 2018-A | ||||
12/01/2036 | 5.000% | 1,000,000 | 1,077,490 | |
Revenue Bonds | ||||
Chapman University | ||||
Series 2015 | ||||
04/01/2026 | 5.000% | 1,000,000 | 1,064,316 | |
Green Bonds - Loyola Marymount University | ||||
Series 2018 | ||||
10/01/2036 | 5.000% | 760,000 | 835,931 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Azusa Pacific University | ||||
Series 2015B | ||||
04/01/2025 | 5.000% | 395,000 | 422,896 | |
04/01/2026 | 5.000% | 1,000,000 | 1,067,137 | |
Biola University | ||||
Series 2017 | ||||
10/01/2031 | 5.000% | 540,000 | 580,214 | |
10/01/2032 | 5.000% | 615,000 | 660,495 | |
10/01/2033 | 5.000% | 625,000 | 669,730 | |
10/01/2034 | 5.000% | 570,000 | 609,908 | |
California Lutheran University | ||||
Series 2018 | ||||
10/01/2035 | 5.000% | 225,000 | 242,576 | |
10/01/2036 | 5.000% | 250,000 | 269,130 | |
Revenue Bonds | ||||
Biola University | ||||
Series 2013 | ||||
10/01/2024 | 5.000% | 505,000 | 520,280 | |
10/01/2028 | 5.000% | 840,000 | 863,269 | |
National University | ||||
Series 2019A | ||||
04/01/2035 | 5.000% | 1,780,000 | 1,973,127 | |
04/01/2036 | 5.000% | 1,120,000 | 1,240,357 | |
University of San Diego | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,200,000 | 1,331,382 | |
California Municipal Finance Authority(d) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2016A | ||||
11/01/2026 | 4.000% | 1,000,000 | 1,027,337 | |
California Statewide Communities Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
California Baptist University | ||||
Series 2017A | ||||
11/01/2032 | 5.000% | 1,135,000 | 1,218,254 | |
Revenue Bonds | ||||
California Baptist University | ||||
Series 2014A | ||||
11/01/2023 | 5.125% | 380,000 | 389,334 | |
Lancer Plaza Project | ||||
Series 2013 | ||||
11/01/2023 | 5.125% | 255,000 | 258,664 | |
University of California | ||||
Refunding Revenue Bonds | ||||
Series 2020BE | ||||
05/15/2037 | 4.000% | 2,665,000 | 2,740,486 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 9 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2022S | ||||
05/15/2030 | 5.000% | 2,000,000 | 2,308,709 | |
Total | 25,143,484 | |||
Hospital 10.4% | ||||
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Cedars Sinai Medical Center | ||||
Series 2015 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,080,103 | |
Children’s Hospital of Orange County | ||||
Series 2019 | ||||
11/01/2030 | 5.000% | 810,000 | 922,625 | |
El Camino Hospital | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,500,000 | 1,593,852 | |
Marshall Medical Center | ||||
Series 2015 | ||||
11/01/2023 | 5.000% | 325,000 | 337,907 | |
Providence St. Joseph Health System | ||||
Series 2019 (Mandatory Put 10/01/27) | ||||
10/01/2039 | 5.000% | 2,775,000 | 3,031,430 | |
Sutter Health | ||||
Series 2017A | ||||
11/15/2033 | 5.000% | 1,000,000 | 1,094,328 | |
Revenue Bonds | ||||
El Camino Hospital | ||||
Series 2017 | ||||
02/01/2033 | 5.000% | 2,500,000 | 2,735,447 | |
02/01/2034 | 5.000% | 500,000 | 546,625 | |
Kaiser Permanente | ||||
Subordinated Series 2017A-1-G | ||||
11/01/2027 | 5.000% | 1,875,000 | 2,101,313 | |
Lucile Salter Packard Children’s Hospital | ||||
Series 2014 | ||||
08/15/2028 | 5.000% | 300,000 | 315,596 | |
Series 2017 | ||||
11/15/2034 | 5.000% | 250,000 | 277,740 | |
11/15/2035 | 5.000% | 270,000 | 299,813 | |
Providence Health & Services | ||||
Series 2014A | ||||
10/01/2030 | 5.000% | 1,500,000 | 1,581,182 | |
Sutter Health | ||||
Series 2018A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,092,203 | |
Unrefunded Revenue Bonds | ||||
St. Joseph Health Systems | ||||
Series 2019 (Mandatory Put 10/01/25) | ||||
10/01/2039 | 5.000% | 1,325,000 | 1,409,555 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2033 | 5.000% | 2,770,000 | 3,032,163 | |
Revenue Bonds | ||||
Clincas Del Camino Real, Inc. | ||||
Series 2020 | ||||
03/01/2035 | 4.000% | 500,000 | 498,321 | |
California Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Henry Mayo Newhall Hospital | ||||
Series 2021 | ||||
10/15/2027 | 4.000% | 400,000 | 420,729 | |
10/15/2028 | 4.000% | 360,000 | 380,296 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Enloe Medical Center | ||||
Series 2015 | ||||
08/15/2030 | 5.000% | 1,990,000 | 2,158,697 | |
Revenue Bonds | ||||
Emanate Health | ||||
Series 2020A | ||||
04/01/2026 | 5.000% | 570,000 | 619,720 | |
Green - Marin General Hospital Project | ||||
Series 2018 | ||||
08/01/2033 | 5.000% | 425,000 | 461,322 | |
08/01/2034 | 5.000% | 650,000 | 704,108 | |
Kaiser Permanente | ||||
Series 2019 (Mandatory Put 11/01/29) | ||||
04/01/2038 | 5.000% | 2,500,000 | 2,833,815 | |
04/01/2045 | 5.000% | 5,000,000 | 5,667,631 | |
Loma Linda University Medical Center | ||||
Series 2014 | ||||
12/01/2034 | 5.250% | 3,000,000 | 3,121,599 | |
Methodist Hospital of Southern California | ||||
Series 2018 | ||||
01/01/2036 | 5.000% | 3,000,000 | 3,247,253 | |
City of Upland | ||||
Refunding Certificate of Participation | ||||
San Antonio Regional Hospital | ||||
Series 2017 | ||||
01/01/2034 | 5.000% | 500,000 | 538,992 | |
01/01/2036 | 4.000% | 1,000,000 | 1,012,250 | |
Total | 43,116,615 | |||
Human Service Provider 0.3% | ||||
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Harbor Regional Center Project | ||||
Series 2015 | ||||
11/01/2032 | 5.000% | 1,120,000 | 1,197,630 |
10 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Joint Power Authority 0.7% | ||||
Middle Fork Project Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
04/01/2030 | 5.000% | 1,200,000 | 1,351,588 | |
Northern California Transmission Agency | ||||
Refunding Revenue Bonds | ||||
California-Oregon Project | ||||
Series 2016 | ||||
05/01/2032 | 5.000% | 1,500,000 | 1,618,531 | |
Total | 2,970,119 | |||
Local Appropriation 2.4% | ||||
Anaheim Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Anaheim Public Improvement Projects | ||||
Series 2019 BAM | ||||
09/01/2031 | 5.000% | 1,470,000 | 1,641,016 | |
Los Angeles County Public Works Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds - LACMA Building for the Permanent Collection Project | ||||
Series 2020A | ||||
12/01/2037 | 4.000% | 2,415,000 | 2,478,361 | |
Riverside Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2012A | ||||
11/01/2027 | 5.000% | 2,145,000 | 2,180,221 | |
11/01/2028 | 5.000% | 1,155,000 | 1,173,620 | |
San Rafael Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Public Safety Facilities Project | ||||
Series 2018 | ||||
06/01/2033 | 5.000% | 850,000 | 948,917 | |
06/01/2034 | 5.000% | 775,000 | 864,222 | |
South San Francisco Public Facilities Financing Authority | ||||
Revenue Bonds | ||||
Police Station Project | ||||
Series 2020A | ||||
06/01/2034 | 4.000% | 410,000 | 429,643 | |
Total | 9,716,000 | |||
Local General Obligation 7.2% | ||||
Bellevue Union School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2008 | ||||
Series 2011A (AGM) | ||||
08/01/2030 | 0.000% | 585,000 | 438,817 | |
08/01/2031 | 0.000% | 615,000 | 441,689 | |
Chula Vista Elementary School District(e) | ||||
Unlimited General Obligation Bonds | ||||
BAN Series 2019 | ||||
08/01/2023 | 0.000% | 1,150,000 | 1,117,680 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Compton Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AMBAC) | ||||
06/01/2023 | 0.000% | 2,025,000 | 1,968,309 | |
06/01/2024 | 0.000% | 1,925,000 | 1,808,690 | |
Compton Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Compton Unified School District | ||||
Series 2019B (BAM) | ||||
06/01/2029 | 5.000% | 650,000 | 718,123 | |
Conejo Valley Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2018B | ||||
08/01/2032 | 4.000% | 2,000,000 | 2,098,839 | |
Corona-Norco Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2014 | ||||
Series 2018B | ||||
08/01/2034 | 4.000% | 500,000 | 518,958 | |
Culver City School Facilities Financing Authority | ||||
Revenue Bonds | ||||
Unified School District | ||||
Series 2005 (AGM) | ||||
08/01/2023 | 5.500% | 1,490,000 | 1,553,283 | |
Encinitas Union School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2010 | ||||
Series 2011 | ||||
08/01/2035 | 0.000% | 500,000 | 638,700 | |
Lodi Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2016 | ||||
Series 2020 | ||||
08/01/2034 | 4.000% | 750,000 | 774,262 | |
08/01/2035 | 4.000% | 600,000 | 615,959 | |
Long Beach Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015D-1 | ||||
08/01/2031 | 0.000% | 1,375,000 | 965,360 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2018B-1 | ||||
07/01/2032 | 5.000% | 4,000,000 | 4,409,251 | |
Monterey Peninsula Community College District(e) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
08/01/2028 | 0.000% | 2,125,000 | 1,753,604 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 11 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Napa Valley Community College District(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018 | ||||
08/01/2034 | 4.000% | 1,595,000 | 1,634,984 | |
Oakland Unified School District/Alameda County | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A | ||||
08/01/2025 | 5.000% | 650,000 | 699,064 | |
Pomona Unified School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Election of 2008 | ||||
Series 2016G (AGM) | ||||
08/01/2032 | 0.000% | 1,000,000 | 708,459 | |
Rancho Santiago Community College District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 2002 | ||||
Series 2006C (AGM) | ||||
09/01/2031 | 0.000% | 3,785,000 | 2,744,670 | |
Rescue Union School District(e) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation - Election of 1998 | ||||
Series 2005 (NPFGC) | ||||
09/01/2026 | 0.000% | 1,100,000 | 962,506 | |
Santa Monica Community College District | ||||
Unlimited General Obligation Bonds | ||||
Election of 2016 | ||||
Series 2018A | ||||
08/01/2034 | 4.000% | 500,000 | 518,958 | |
Sierra Kings Health Care District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015 | ||||
08/01/2028 | 5.000% | 1,000,000 | 1,059,436 | |
08/01/2032 | 5.000% | 1,500,000 | 1,582,880 | |
Total | 29,732,481 | |||
Multi-Family 1.0% | ||||
California Housing Finance | ||||
Revenue Bonds | ||||
Series 2019-2 Class A | ||||
03/20/2033 | 4.000% | 1,156,277 | 1,187,707 | |
California Municipal Finance Authority | ||||
Revenue Bonds | ||||
Bowles Hall Foundation | ||||
Series 2015A | ||||
06/01/2035 | 5.000% | 400,000 | 411,813 | |
Caritas Affordable Housing | ||||
Series 2014 | ||||
08/15/2030 | 5.000% | 1,000,000 | 1,032,142 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Statewide Communities Development Authority | ||||
Revenue Bonds | ||||
Lancer Educational Student Housing Project | ||||
Series 2019 | ||||
06/01/2034 | 5.000% | 375,000 | 391,325 | |
Series 2017 | ||||
05/15/2032 | 5.000% | 1,000,000 | 1,069,138 | |
Total | 4,092,125 | |||
Municipal Power 4.7% | ||||
City of Redding Electric System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2029 | 5.000% | 1,250,000 | 1,381,629 | |
City of Riverside Electric | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2037 | 5.000% | 1,000,000 | 1,115,985 | |
City of Vernon Electric System(g) | ||||
Refunding Revenue Bonds | ||||
Series 2022A | ||||
08/01/2039 | 5.000% | 425,000 | 453,027 | |
Los Angeles Department of Water & Power System | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2035 | 5.000% | 1,750,000 | 1,922,386 | |
Series 2019B | ||||
07/01/2031 | 5.000% | 5,000,000 | 5,634,707 | |
Revenue Bonds | ||||
Power System | ||||
Series 2014D | ||||
07/01/2033 | 5.000% | 1,700,000 | 1,778,631 | |
Redding Joint Powers Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
06/01/2031 | 5.000% | 1,045,000 | 1,120,391 | |
Sacramento Municipal Utility District | ||||
Revenue Bonds | ||||
Electric | ||||
Series 2020H | ||||
08/15/2033 | 5.000% | 2,000,000 | 2,291,060 | |
Turlock Irrigation District | ||||
Refunding Revenue Bonds | ||||
First Priority | ||||
Subordinated Series 2014 | ||||
01/01/2030 | 5.000% | 850,000 | 893,339 | |
01/01/2031 | 5.000% | 1,000,000 | 1,050,124 | |
Series 2020 | ||||
01/01/2038 | 5.000% | 1,650,000 | 1,859,194 | |
Total | 19,500,473 |
12 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Other Bond Issue 0.7% | ||||
California Infrastructure & Economic Development Bank | ||||
Refunding Revenue Bonds | ||||
Salvation Army Western Territory (The) | ||||
Series 2016 | ||||
09/01/2033 | 4.000% | 400,000 | 413,267 | |
09/01/2034 | 4.000% | 600,000 | 616,945 | |
Walt Disney Family Museum | ||||
Series 2016 | ||||
02/01/2032 | 4.000% | 350,000 | 359,705 | |
02/01/2033 | 4.000% | 500,000 | 511,542 | |
City of Long Beach Marina System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/15/2028 | 5.000% | 635,000 | 665,738 | |
County of San Diego | ||||
Refunding Revenue Bonds | ||||
Sanford Burnham Prebys Medical Discovery Group | ||||
Series 2015 | ||||
11/01/2025 | 5.000% | 350,000 | 378,618 | |
Total | 2,945,815 | |||
Pool / Bond Bank 0.6% | ||||
California Infrastructure & Economic Development Bank | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2019 | ||||
10/01/2031 | 5.000% | 2,120,000 | 2,396,218 | |
Ports 3.1% | ||||
City of Long Beach Harbor(c) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2020B | ||||
05/15/2024 | 5.000% | 5,000,000 | 5,226,102 | |
City of Long Beach Harbor | ||||
Revenue Bonds | ||||
Series 2019A | ||||
05/15/2036 | 5.000% | 700,000 | 783,325 | |
Port Commission of the City & County of San Francisco | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
03/01/2037 | 4.000% | 315,000 | 322,634 | |
03/01/2038 | 4.000% | 405,000 | 414,127 | |
03/01/2039 | 4.000% | 1,260,000 | 1,286,285 | |
Port of Los Angeles(c) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2019A | ||||
08/01/2025 | 5.000% | 1,750,000 | 1,868,012 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port of Oakland(c) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2021 | ||||
05/01/2029 | 5.000% | 500,000 | 550,431 | |
San Diego Unified Port District | ||||
Refunding Revenue Bonds | ||||
Series 2013A | ||||
09/01/2027 | 5.000% | 1,000,000 | 1,033,573 | |
09/01/2028 | 5.000% | 1,100,000 | 1,137,347 | |
Total | 12,621,836 | |||
Prepaid Gas 3.0% | ||||
California Community Choice Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2021B-1 (Mandatory Put 08/01/2031) | ||||
02/01/2052 | 4.000% | 3,500,000 | 3,551,210 | |
Green Bonds - Clean Energy Project | ||||
Series 2021 (Mandatory Put 12/01/27) | ||||
10/01/2052 | 4.000% | 4,000,000 | 4,100,431 | |
M-S-R Energy Authority | ||||
Revenue Bonds | ||||
Series 2009B | ||||
11/01/2029 | 6.125% | 1,890,000 | 2,108,087 | |
Southern California Public Power Authority | ||||
Revenue Bonds | ||||
Project No. 1 | ||||
Series 2007A | ||||
11/01/2022 | 5.250% | 2,500,000 | 2,539,133 | |
Total | 12,298,861 | |||
Recreation 0.4% | ||||
Del Mar Race Track Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 1,665,000 | 1,666,710 | |
Refunded / Escrowed 8.2% | ||||
California Educational Facilities Authority | ||||
Revenue Bonds | ||||
University of Southern California | ||||
Series 2009C Escrowed to Maturity | ||||
10/01/2024 | 5.250% | 3,000,000 | 3,204,428 | |
California Health Facilities Financing Authority | ||||
Prerefunded 10/01/25 Revenue Bonds | ||||
Series 2019 | ||||
10/01/2039 | 5.000% | 1,175,000 | 1,271,396 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 13 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California Municipal Finance Authority | ||||
Prerefunded 02/01/25 Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2015A | ||||
02/01/2027 | 5.000% | 1,200,000 | 1,282,319 | |
California School Finance Authority(d) | ||||
Prerefunded 08/01/25 Revenue Bonds | ||||
Aspire Public School | ||||
Series 2016 | ||||
08/01/2029 | 5.000% | 100,000 | 107,807 | |
08/01/2030 | 5.000% | 125,000 | 134,759 | |
08/01/2031 | 5.000% | 75,000 | 80,856 | |
California State Public Works Board | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012G | ||||
11/01/2028 | 5.000% | 7,010,000 | 7,129,301 | |
California Statewide Communities Development Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Huntington Memorial Hospital | ||||
Series 2014B | ||||
07/01/2033 | 5.000% | 2,300,000 | 2,424,727 | |
Prerefunded 10/01/24 Revenue Bonds | ||||
Henry Mayo Newhall Memorial Hospital | ||||
Series 2014A (AGM) | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,059,897 | |
Prerefunded 11/15/23 Revenue Bonds | ||||
Insured Redwoods Project | ||||
Series 2013 | ||||
11/15/2028 | 5.000% | 1,000,000 | 1,042,110 | |
Golden State Tobacco Securitization Corp. | ||||
Prerefunded 06/01/25 Asset-Backed Revenue Bonds | ||||
Series 2015A | ||||
06/01/2033 | 5.000% | 4,000,000 | 4,300,247 | |
Refunding Revenue Bonds | ||||
Series 2017A-1 Escrowed to Maturity | ||||
06/01/2024 | 5.000% | 4,000,000 | 4,209,312 | |
La Quinta Redevelopment Agency Successor Agency | ||||
Prerefunded 09/01/23 Tax Allocation Bonds | ||||
Redevelopment Project | ||||
Subordinated Series 2013A | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,555,824 | |
Midpeninsula Regional Open Space District | ||||
Prerefunded 09/01/22 Revenue Bonds | ||||
1999 Project Lease | ||||
Series 2012 | ||||
09/01/2029 | 5.000% | 2,000,000 | 2,023,570 | |
Poway Unified School District | ||||
Prerefunded 09/01/22 Special Tax Bonds | ||||
Community Facilities District No. 6-4S Ranch | ||||
Series 2012 | ||||
09/01/2029 | 5.000% | 1,195,000 | 1,208,685 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Semitropic Improvement District | ||||
Prerefunded 12/01/22 Revenue Bonds | ||||
Series 2012A | ||||
12/01/2023 | 5.000% | 2,850,000 | 2,905,311 | |
Total | 33,940,549 | |||
Retirement Communities 4.6% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Revenue Bonds | ||||
Odd Fellows Home of California | ||||
Series 2012A | ||||
04/01/2032 | 5.000% | 4,750,000 | 4,850,936 | |
California Health Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Northern California Presbyterian Homes | ||||
Series 2015 | ||||
07/01/2028 | 5.000% | 310,000 | 332,567 | |
07/01/2029 | 5.000% | 300,000 | 321,622 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
HumanGood Obligation Group | ||||
Series 2019A | ||||
10/01/2034 | 4.000% | 500,000 | 514,554 | |
10/01/2035 | 4.000% | 1,000,000 | 1,025,885 | |
Mt. San Antonio Gardens Project | ||||
Series 2019 | ||||
11/15/2039 | 5.000% | 1,000,000 | 1,047,901 | |
Retirement Housing Foundation | ||||
Series 2017 | ||||
11/15/2029 | 5.000% | 390,000 | 420,675 | |
11/15/2030 | 5.000% | 600,000 | 649,643 | |
11/15/2032 | 5.000% | 850,000 | 915,548 | |
California Public Finance Authority(d) | ||||
Revenue Bonds | ||||
Enso Village Project - Green Bonds - TEMPS 70 | ||||
Series 2021 | ||||
11/15/2028 | 2.375% | 2,000,000 | 1,879,666 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
American Baptist Homes West | ||||
Series 2015 | ||||
10/01/2024 | 5.000% | 2,575,000 | 2,711,277 | |
10/01/2026 | 5.000% | 1,000,000 | 1,067,250 | |
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2030 | 5.000% | 150,000 | 164,312 | |
Series 2021 | ||||
04/01/2038 | 4.000% | 750,000 | 762,047 | |
04/01/2039 | 4.000% | 750,000 | 761,222 |
14 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Viamonte Senior Living 1, Inc. | ||||
Series 2018 | ||||
07/01/2035 | 4.000% | 300,000 | 308,419 | |
07/01/2036 | 4.000% | 430,000 | 440,481 | |
Los Angeles County Regional Financing Authority | ||||
Revenue Bonds | ||||
Montecedro, Inc. Project | ||||
Series 2014A | ||||
11/15/2034 | 5.000% | 1,000,000 | 1,012,686 | |
Total | 19,186,691 | |||
Sales Tax 0.9% | ||||
California Statewide Communities Development Authority | ||||
Certificate of Participation | ||||
Total Road Improvement Program | ||||
Series 2018B (AGM) | ||||
12/01/2035 | 5.000% | 1,405,000 | 1,589,879 | |
City of Sacramento Transient Occupancy | ||||
Revenue Bonds | ||||
Convention Center Complex | ||||
Subordinated Series 2018 | ||||
06/01/2035 | 5.000% | 615,000 | 672,565 | |
06/01/2036 | 5.000% | 1,180,000 | 1,289,372 | |
Total | 3,551,816 | |||
Special Non Property Tax 0.2% | ||||
Berkeley Joint Powers Financing Authority | ||||
Revenue Bonds | ||||
Series 2016 (BAM) | ||||
06/01/2033 | 4.000% | 415,000 | 425,233 | |
06/01/2034 | 4.000% | 250,000 | 255,483 | |
Total | 680,716 | |||
Special Property Tax 13.2% | ||||
Carson Public Financing Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
09/02/2026 | 5.000% | 650,000 | 697,492 | |
City & County of San Francisco Community Facilities District No. 2016-1 | ||||
Special Tax Bonds | ||||
Series 2021 | ||||
09/01/2041 | 4.000% | 745,000 | 688,950 | |
City of Irvine | ||||
Refunding Special Assessment Bonds | ||||
Limited Obligation Reassessment District | ||||
Series 2015 | ||||
09/02/2025 | 5.000% | 1,295,000 | 1,391,222 | |
Special Assessment Refunding Bonds | ||||
Series 2019 | ||||
09/02/2031 | 5.000% | 325,000 | 362,369 | |
09/02/2032 | 5.000% | 340,000 | 378,403 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Concord Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014 (BAM) | ||||
03/01/2025 | 5.000% | 840,000 | 896,086 | |
County of El Dorado | ||||
Refunding Special Tax Bonds | ||||
Community Facilities District No. 92-1 | ||||
Series 2012 | ||||
09/01/2026 | 5.000% | 625,000 | 632,220 | |
09/01/2027 | 5.000% | 800,000 | 809,242 | |
Emeryville Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2014A (AGM) | ||||
09/01/2023 | 5.000% | 2,415,000 | 2,501,329 | |
09/01/2026 | 5.000% | 1,000,000 | 1,057,341 | |
09/01/2027 | 5.000% | 1,000,000 | 1,057,254 | |
09/01/2030 | 5.000% | 815,000 | 859,777 | |
09/01/2031 | 5.000% | 590,000 | 621,689 | |
Garden Grove Agency Community Development Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Garden Grove Community Project | ||||
Series 2016 (BAM) | ||||
10/01/2030 | 5.000% | 1,040,000 | 1,127,931 | |
10/01/2031 | 5.000% | 1,640,000 | 1,776,053 | |
Inglewood Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Merged Redevelopment Project | ||||
Subordinated Series 2017 (BAM) | ||||
05/01/2032 | 5.000% | 500,000 | 549,367 | |
05/01/2033 | 5.000% | 1,000,000 | 1,097,196 | |
Irvine Unified School District | ||||
Refunding Special Tax Bonds | ||||
Series 2015 | ||||
09/01/2030 | 5.000% | 2,065,000 | 2,187,210 | |
09/01/2031 | 5.000% | 2,720,000 | 2,881,736 | |
Jurupa Public Financing Authority | ||||
Refunding Special Tax Bonds | ||||
Series 2014A | ||||
09/01/2029 | 5.000% | 530,000 | 557,913 | |
09/01/2030 | 5.000% | 625,000 | 657,916 | |
09/01/2032 | 5.000% | 625,000 | 657,627 | |
Los Angeles Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Playa Vista-Phase 1 | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 985,000 | 1,039,117 | |
Los Angeles County Redevelopment Authority | ||||
Refunding Tax Allocation Bonds | ||||
Los Angeles Bunker Hill Project | ||||
Series 2014C (AGM) | ||||
12/01/2028 | 5.000% | 6,060,000 | 6,440,895 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 15 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Oakland Redevelopment Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Subordinated Series 2013 | ||||
09/01/2022 | 5.000% | 2,000,000 | 2,020,976 | |
Oakley Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Oakley Redevelopment Project Area | ||||
Series 2018 (BAM) | ||||
09/01/2032 | 5.000% | 335,000 | 373,244 | |
09/01/2033 | 5.000% | 730,000 | 812,087 | |
09/01/2034 | 5.000% | 500,000 | 555,594 | |
Palm Desert Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2017A (BAM) | ||||
10/01/2029 | 5.000% | 890,000 | 981,267 | |
10/01/2030 | 5.000% | 350,000 | 384,983 | |
Poway Unified School District Public Financing Authority | ||||
Special Tax Refunding Bonds | ||||
Series 2015B | ||||
09/01/2026 | 5.000% | 995,000 | 1,075,150 | |
Rancho Cucamonga Redevelopment Agency Successor Agency | ||||
Tax Allocation Bonds | ||||
Rancho Redevelopment Project Area | ||||
Series 2014 | ||||
09/01/2030 | 5.000% | 700,000 | 738,458 | |
Series 2014 (AGM) | ||||
09/01/2027 | 5.000% | 2,200,000 | 2,325,446 | |
Riverside County Public Financing Authority | ||||
Tax Allocation Bonds | ||||
Project Area #1-Desert Communities | ||||
Series 2016 (BAM) | ||||
10/01/2031 | 4.000% | 2,500,000 | 2,572,435 | |
San Francisco City & County Redevelopment Agency | ||||
Refunding Tax Allocation Bonds | ||||
Mission Bay North Redevelopment Project | ||||
Series 2016 | ||||
08/01/2030 | 5.000% | 275,000 | 300,677 | |
08/01/2031 | 5.000% | 355,000 | 387,478 | |
Mission Bay South Redevelopment Project | ||||
Series 2016 | ||||
08/01/2031 | 5.000% | 670,000 | 731,297 | |
08/01/2032 | 5.000% | 580,000 | 632,840 | |
Tax Allocation Bonds | ||||
Mission Bay South Redevelopment Project | ||||
Series 2014A | ||||
08/01/2029 | 5.000% | 225,000 | 236,472 | |
08/01/2030 | 5.000% | 175,000 | 183,904 | |
San Mateo Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2015A | ||||
08/01/2028 | 5.000% | 1,860,000 | 1,985,387 | |
08/01/2029 | 5.000% | 1,000,000 | 1,065,707 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Semitropic Improvement District | ||||
Refunding Revenue Bonds | ||||
Series 2015A 2nd Lien (AGM) | ||||
12/01/2023 | 5.000% | 300,000 | 313,296 | |
12/01/2024 | 5.000% | 400,000 | 426,163 | |
Transbay Joint Powers Authority | ||||
Senior Tax Allocation Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
10/01/2033 | 5.000% | 500,000 | 566,011 | |
Tustin Community Facilities District | ||||
Refunding Special Tax Bonds | ||||
Legacy Villages of Columbus #06-1 | ||||
Series 2015 | ||||
09/01/2029 | 5.000% | 1,200,000 | 1,289,689 | |
Tustin Community Redevelopment Agency Successor Agency | ||||
Refunding Tax Allocation Bonds | ||||
Series 2016 | ||||
09/01/2032 | 4.000% | 2,295,000 | 2,366,252 | |
Vista Redevelopment Agency Successor Agency | ||||
Tax Allocation Refunding Bonds | ||||
Series 2015B1 (AGM) | ||||
09/01/2024 | 5.000% | 580,000 | 612,567 | |
09/01/2026 | 5.000% | 700,000 | 755,308 | |
Total | 54,619,023 | |||
State Appropriated 4.1% | ||||
California State Public Works Board | ||||
Refunding Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2020C | ||||
03/01/2033 | 5.000% | 1,800,000 | 2,026,617 | |
Various Purpose | ||||
Series 2022A | ||||
08/01/2036 | 5.000% | 5,040,000 | 5,744,839 | |
Revenue Bonds | ||||
Department of Corrections and Rehabilitation | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,175,000 | 1,254,550 | |
Various Capital Projects | ||||
Series 2013I | ||||
11/01/2028 | 5.250% | 3,000,000 | 3,121,997 | |
Series 2014E | ||||
09/01/2030 | 5.000% | 1,500,000 | 1,577,263 | |
Various Correctional Facilities | ||||
Series 2014A | ||||
09/01/2031 | 5.000% | 3,000,000 | 3,153,137 | |
Total | 16,878,403 |
16 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State General Obligation 2.8% | ||||
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
04/01/2031 | 5.000% | 1,000,000 | 1,128,512 | |
Series 2020 | ||||
11/01/2034 | 4.000% | 1,000,000 | 1,041,932 | |
Various Purpose | ||||
Series 2021 | ||||
10/01/2039 | 4.000% | 2,500,000 | 2,546,886 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2014 | ||||
08/01/2032 | 5.000% | 3,000,000 | 3,150,890 | |
Series 2019 | ||||
10/01/2025 | 5.000% | 2,435,000 | 2,633,935 | |
Various Purpose | ||||
Series 2020 | ||||
03/01/2033 | 5.000% | 1,000,000 | 1,135,543 | |
Total | 11,637,698 | |||
Tobacco 0.6% | ||||
California County Tobacco Securitization Agency | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
06/01/2030 | 5.000% | 250,000 | 274,022 | |
06/01/2032 | 5.000% | 250,000 | 272,350 | |
06/01/2033 | 5.000% | 250,000 | 271,650 | |
06/01/2034 | 4.000% | 200,000 | 202,655 | |
Tobacco Securitization Authority of Southern California | ||||
Refunding Revenue Bonds | ||||
San Diego County Tobacco Asset Securitization Corp. | ||||
Series 2019 | ||||
06/01/2030 | 5.000% | 1,220,000 | 1,331,597 | |
Total | 2,352,274 | |||
Transportation 0.5% | ||||
Peninsula Corridor Joint Powers Board | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2036 | 5.000% | 315,000 | 354,128 | |
10/01/2037 | 5.000% | 300,000 | 337,036 | |
San Diego Association of Governments | ||||
Revenue Bonds | ||||
Green Bonds - Mid Coast Corridor | ||||
Series 2019 | ||||
11/15/2027 | 1.800% | 1,500,000 | 1,407,928 | |
Total | 2,099,092 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Turnpike / Bridge / Toll Road 2.4% | ||||
Bay Area Toll Authority | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2017 | ||||
04/01/2031 | 4.000% | 2,000,000 | 2,087,700 | |
Foothill-Eastern Transportation Corridor Agency(e) | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
01/15/2033 | 0.000% | 5,000,000 | 3,280,919 | |
Foothill-Eastern Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2014B-3 (Mandatory Put 01/15/23) | ||||
01/15/2053 | 5.500% | 3,000,000 | 3,023,844 | |
Riverside County Transportation Commission | ||||
Refunding Revenue Bonds | ||||
RCTC 91 Express Lanes | ||||
Series 2021 | ||||
06/01/2038 | 4.000% | 375,000 | 370,363 | |
San Joaquin Hills Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Senior Lien Toll Road | ||||
Series 2021 | ||||
01/15/2034 | 4.000% | 1,000,000 | 1,006,294 | |
Total | 9,769,120 | |||
Water & Sewer 3.1% | ||||
Beaumont Public Improvement Authority | ||||
Revenue Bonds | ||||
Series 2018-A (AGM) | ||||
09/01/2033 | 5.000% | 500,000 | 548,495 | |
09/01/2035 | 5.000% | 830,000 | 908,542 | |
City of Riverside Water | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2032 | 5.000% | 1,500,000 | 1,698,223 | |
City of Tulare Sewer | ||||
Refunding Revenue Bonds | ||||
Series 2015 (AGM) | ||||
11/15/2025 | 5.000% | 700,000 | 754,354 | |
11/15/2026 | 5.000% | 1,000,000 | 1,083,270 | |
Livermore Valley Water Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
07/01/2034 | 4.000% | 920,000 | 949,404 | |
Los Angeles County Sanitation Districts Financing Authority | ||||
Refunding Revenue Bonds | ||||
Capital Projects - District #14 | ||||
Subordinated Series 2015 | ||||
10/01/2024 | 5.000% | 1,050,000 | 1,113,145 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 17 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Mountain House Public Financing Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Subordinated Series 2020B (BAM) | ||||
12/01/2035 | 4.000% | 1,000,000 | 1,040,843 | |
Santa Paula Utility Authority | ||||
Refunding Revenue Bonds | ||||
Series 2019 (AGM) | ||||
02/01/2034 | 4.000% | 575,000 | 598,723 | |
02/01/2036 | 4.000% | 1,325,000 | 1,360,565 | |
Stockton Public Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2014 (BAM) | ||||
09/01/2028 | 5.000% | 1,500,000 | 1,580,739 | |
Union Sanitary District Financing Author | ||||
Revenue Bonds | ||||
Series 2020A | ||||
09/01/2037 | 4.000% | 400,000 | 415,220 | |
09/01/2038 | 4.000% | 325,000 | 335,454 | |
09/01/2039 | 4.000% | 600,000 | 618,284 | |
Total | 13,005,261 | |||
Total Municipal Bonds (Cost $404,098,569) | 394,405,058 |
Money Market Funds 2.8% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.318%(h) | 147,850 | 147,835 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.283%(h) | 11,503,218 | 11,503,218 |
Total Money Market Funds (Cost $11,651,068) | 11,651,053 | |
Total Investments in Securities (Cost: $416,084,637) | 406,391,111 | |
Other Assets & Liabilities, Net | 6,661,868 | |
Net Assets | 413,052,979 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of April 30, 2022. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2022, the total value of these securities amounted to $20,773,880, which represents 5.03% of total net assets. |
(e) | Zero coupon bond. |
(f) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of April 30, 2022. |
(g) | Represents a security purchased on a when-issued basis. |
(h) | The rate shown is the seven-day current annualized yield at April 30, 2022. |
AGM | Assured Guaranty Municipal Corporation |
AMBAC | Ambac Assurance Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
NPFGC | National Public Finance Guarantee Corporation |
18 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
pricing an investment. An investment’s level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset’s or liability’s fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 335,000 | — | 335,000 |
Municipal Bonds | — | 394,405,058 | — | 394,405,058 |
Money Market Funds | 11,651,053 | — | — | 11,651,053 |
Total Investments in Securities | 11,651,053 | 394,740,058 | — | 406,391,111 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 19 |
April 30, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $416,084,637) | $406,391,111 |
Cash | 5,899 |
Receivable for: | |
Capital shares sold | 3,749,628 |
Interest | 4,798,426 |
Expense reimbursement due from Investment Manager | 1,173 |
Prepaid expenses | 7,511 |
Total assets | 414,953,748 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 533,545 |
Capital shares purchased | 419,461 |
Distributions to shareholders | 779,812 |
Management services fees | 5,267 |
Distribution and/or service fees | 422 |
Transfer agent fees | 35,600 |
Compensation of board members | 108,023 |
Other expenses | 18,639 |
Total liabilities | 1,900,769 |
Net assets applicable to outstanding capital stock | $413,052,979 |
Represented by | |
Paid in capital | 427,540,927 |
Total distributable earnings (loss) | (14,487,948) |
Total - representing net assets applicable to outstanding capital stock | $413,052,979 |
Class A | |
Net assets | $44,426,941 |
Shares outstanding | 4,546,245 |
Net asset value per share | $9.77 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.07 |
Advisor Class | |
Net assets | $1,707,392 |
Shares outstanding | 175,141 |
Net asset value per share | $9.75 |
Class C | |
Net assets | $4,363,441 |
Shares outstanding | 446,752 |
Net asset value per share | $9.77 |
Institutional Class | |
Net assets | $347,070,148 |
Shares outstanding | 35,593,227 |
Net asset value per share | $9.75 |
Institutional 2 Class | |
Net assets | $8,777,085 |
Shares outstanding | 902,872 |
Net asset value per share | $9.72 |
Institutional 3 Class | |
Net assets | $6,707,972 |
Shares outstanding | 688,465 |
Net asset value per share | $9.74 |
20 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended April 30, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $2,848 |
Interest | 12,095,844 |
Total income | 12,098,692 |
Expenses: | |
Management services fees | 2,094,548 |
Distribution and/or service fees | |
Class A | 113,583 |
Class C | 57,964 |
Transfer agent fees | |
Class A | 47,719 |
Advisor Class | 3,145 |
Class C | 6,143 |
Institutional Class | 393,973 |
Institutional 2 Class | 6,681 |
Institutional 3 Class | 496 |
Compensation of board members | 27,668 |
Custodian fees | 2,674 |
Printing and postage fees | 14,275 |
Registration fees | 21,965 |
Audit fees | 29,500 |
Legal fees | 15,305 |
Compensation of chief compliance officer | 71 |
Other | 15,590 |
Total expenses | 2,851,300 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (490,887) |
Expense reduction | (20) |
Total net expenses | 2,360,393 |
Net investment income | 9,738,299 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (73,035) |
Net realized loss | (73,035) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (39,228,429) |
Net change in unrealized appreciation (depreciation) | (39,228,429) |
Net realized and unrealized loss | (39,301,464) |
Net decrease in net assets resulting from operations | $(29,563,165) |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 21 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | |
Operations | ||
Net investment income | $9,738,299 | $10,626,944 |
Net realized gain (loss) | (73,035) | 185,992 |
Net change in unrealized appreciation (depreciation) | (39,228,429) | 20,199,703 |
Net increase (decrease) in net assets resulting from operations | (29,563,165) | 31,012,639 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (893,492) | (688,337) |
Advisor Class | (66,714) | (64,148) |
Class C | (70,128) | (119,563) |
Institutional Class | (8,342,248) | (9,327,171) |
Institutional 2 Class | (266,661) | (294,403) |
Institutional 3 Class | (145,031) | (133,322) |
Total distributions to shareholders | (9,784,274) | (10,626,944) |
Increase (decrease) in net assets from capital stock activity | 862,463 | (11,808,581) |
Total increase (decrease) in net assets | (38,484,976) | 8,577,114 |
Net assets at beginning of year | 451,537,955 | 442,960,841 |
Net assets at end of year | $413,052,979 | $451,537,955 |
22 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
April 30, 2022 | April 30, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,518,053 | 36,648,752 | 781,435 | 8,350,473 |
Distributions reinvested | 72,268 | 759,073 | 55,054 | 587,853 |
Redemptions | (2,244,598) | (23,381,283) | (703,175) | (7,481,214) |
Net increase | 1,345,723 | 14,026,542 | 133,314 | 1,457,112 |
Advisor Class | ||||
Subscriptions | 107,890 | 1,128,144 | 84,581 | 900,844 |
Distributions reinvested | 6,354 | 66,486 | 5,999 | 63,904 |
Redemptions | (216,260) | (2,167,760) | (44,041) | (469,445) |
Net increase (decrease) | (102,016) | (973,130) | 46,539 | 495,303 |
Class C | ||||
Subscriptions | 23,876 | 247,614 | 27,785 | 296,107 |
Distributions reinvested | 6,267 | 65,936 | 9,709 | 103,608 |
Redemptions | (298,587) | (3,176,633) | (337,458) | (3,599,661) |
Net decrease | (268,444) | (2,863,083) | (299,964) | (3,199,946) |
Institutional Class | ||||
Subscriptions | 6,833,501 | 70,244,123 | 6,464,387 | 68,605,365 |
Distributions reinvested | 231,554 | 2,418,651 | 216,565 | 2,307,750 |
Redemptions | (7,769,842) | (80,401,157) | (7,845,171) | (83,207,549) |
Net decrease | (704,787) | (7,738,383) | (1,164,219) | (12,294,434) |
Institutional 2 Class | ||||
Subscriptions | 81,308 | 863,980 | 357,324 | 3,811,786 |
Distributions reinvested | 25,441 | 266,469 | 27,703 | 294,403 |
Redemptions | (448,541) | (4,693,853) | (205,282) | (2,165,875) |
Net increase (decrease) | (341,792) | (3,563,404) | 179,745 | 1,940,314 |
Institutional 3 Class | ||||
Subscriptions | 304,843 | 3,163,361 | 273,185 | 2,915,379 |
Distributions reinvested | 13,836 | 144,475 | 12,411 | 132,126 |
Redemptions | (130,911) | (1,333,915) | (304,786) | (3,254,435) |
Net increase (decrease) | 187,768 | 1,973,921 | (19,190) | (206,930) |
Total net increase (decrease) | 116,452 | 862,463 | (1,123,775) | (11,808,581) |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 4/30/2022 | $10.71 | 0.21 | (0.94) | (0.73) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.24 | 0.22 | 0.47 | 0.69 | (0.22) | (0.22) |
Year Ended 4/30/2020 | $10.46 | 0.24 | (0.22) | 0.02 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.23 | 0.27 | 0.23 | 0.50 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.38 | 0.27 | (0.15) | 0.12 | (0.27) | (0.27) |
Advisor Class | ||||||
Year Ended 4/30/2022 | $10.68 | 0.23 | (0.93) | (0.70) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.47 | 0.72 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.43 | 0.27 | (0.22) | 0.05 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.20 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.16) | 0.13 | (0.29) | (0.29) |
Class C | ||||||
Year Ended 4/30/2022 | $10.71 | 0.13 | (0.94) | (0.81) | (0.13) | (0.13) |
Year Ended 4/30/2021 | $10.23 | 0.14 | 0.48 | 0.62 | (0.14) | (0.14) |
Year Ended 4/30/2020 | $10.46 | 0.16 | (0.23) | (0.07) | (0.16) | (0.16) |
Year Ended 4/30/2019 | $10.22 | 0.20 | 0.24 | 0.44 | (0.20) | (0.20) |
Year Ended 4/30/2018 | $10.38 | 0.19 | (0.16) | 0.03 | (0.19) | (0.19) |
Institutional Class | ||||||
Year Ended 4/30/2022 | $10.69 | 0.23 | (0.94) | (0.71) | (0.23) | (0.23) |
Year Ended 4/30/2021 | $10.21 | 0.25 | 0.48 | 0.73 | (0.25) | (0.25) |
Year Ended 4/30/2020 | $10.44 | 0.27 | (0.23) | 0.04 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $10.21 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.36 | 0.29 | (0.15) | 0.14 | (0.29) | (0.29) |
Institutional 2 Class | ||||||
Year Ended 4/30/2022 | $10.66 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.18 | 0.26 | 0.48 | 0.74 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.41 | 0.27 | (0.22) | 0.05 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.18 | 0.30 | 0.23 | 0.53 | (0.30) | (0.30) |
Year Ended 4/30/2018 | $10.33 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
24 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 4/30/2022 | $9.77 | (6.96%) | 0.85% | 0.74%(c) | 1.96% | 8% | $44,427 |
Year Ended 4/30/2021 | $10.71 | 6.80% | 0.87% | 0.75%(c) | 2.09% | 5% | $34,289 |
Year Ended 4/30/2020 | $10.24 | 0.17% | 0.86% | 0.75%(c) | 2.30% | 6% | $31,402 |
Year Ended 4/30/2019 | $10.46 | 5.00% | 0.87% | 0.74%(c) | 2.67% | 17% | $31,998 |
Year Ended 4/30/2018 | $10.23 | 1.10% | 0.88% | 0.74%(c) | 2.56% | 5% | $27,341 |
Advisor Class | |||||||
Year Ended 4/30/2022 | $9.75 | (6.65%) | 0.60% | 0.49%(c) | 2.21% | 8% | $1,707 |
Year Ended 4/30/2021 | $10.68 | 7.08% | 0.62% | 0.50%(c) | 2.34% | 5% | $2,961 |
Year Ended 4/30/2020 | $10.21 | 0.41% | 0.61% | 0.50%(c) | 2.54% | 6% | $2,354 |
Year Ended 4/30/2019 | $10.43 | 5.28% | 0.62% | 0.49%(c) | 2.92% | 17% | $2,254 |
Year Ended 4/30/2018 | $10.20 | 1.25% | 0.63% | 0.49%(c) | 2.83% | 5% | $1,931 |
Class C | |||||||
Year Ended 4/30/2022 | $9.77 | (7.65%) | 1.60% | 1.49%(c) | 1.20% | 8% | $4,363 |
Year Ended 4/30/2021 | $10.71 | 6.11% | 1.62% | 1.50%(c) | 1.35% | 5% | $7,658 |
Year Ended 4/30/2020 | $10.23 | (0.68%) | 1.61% | 1.50%(c) | 1.54% | 6% | $10,387 |
Year Ended 4/30/2019 | $10.46 | 4.32% | 1.62% | 1.49%(c) | 1.92% | 17% | $11,161 |
Year Ended 4/30/2018 | $10.22 | 0.25% | 1.63% | 1.49%(c) | 1.81% | 5% | $13,508 |
Institutional Class | |||||||
Year Ended 4/30/2022 | $9.75 | (6.74%) | 0.60% | 0.49%(c) | 2.21% | 8% | $347,070 |
Year Ended 4/30/2021 | $10.69 | 7.18% | 0.62% | 0.50%(c) | 2.34% | 5% | $388,017 |
Year Ended 4/30/2020 | $10.21 | 0.31% | 0.61% | 0.50%(c) | 2.54% | 6% | $382,665 |
Year Ended 4/30/2019 | $10.44 | 5.27% | 0.62% | 0.49%(c) | 2.92% | 17% | $343,276 |
Year Ended 4/30/2018 | $10.21 | 1.35% | 0.63% | 0.49%(c) | 2.82% | 5% | $365,455 |
Institutional 2 Class | |||||||
Year Ended 4/30/2022 | $9.72 | (6.72%) | 0.55% | 0.44% | 2.25% | 8% | $8,777 |
Year Ended 4/30/2021 | $10.66 | 7.26% | 0.56% | 0.44% | 2.40% | 5% | $13,265 |
Year Ended 4/30/2020 | $10.18 | 0.37% | 0.55% | 0.44% | 2.60% | 6% | $10,846 |
Year Ended 4/30/2019 | $10.41 | 5.34% | 0.56% | 0.43% | 2.98% | 17% | $10,662 |
Year Ended 4/30/2018 | $10.18 | 1.42% | 0.56% | 0.42% | 2.89% | 5% | $7,363 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 25 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Year Ended 4/30/2022 | $10.68 | 0.24 | (0.94) | (0.70) | (0.24) | (0.24) |
Year Ended 4/30/2021 | $10.21 | 0.26 | 0.47 | 0.73 | (0.26) | (0.26) |
Year Ended 4/30/2020 | $10.43 | 0.28 | (0.22) | 0.06 | (0.28) | (0.28) |
Year Ended 4/30/2019 | $10.20 | 0.31 | 0.23 | 0.54 | (0.31) | (0.31) |
Year Ended 4/30/2018 | $10.35 | 0.30 | (0.15) | 0.15 | (0.30) | (0.30) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
26 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $9.74 | (6.66%) | 0.50% | 0.39% | 2.31% | 8% | $6,708 |
Year Ended 4/30/2021 | $10.68 | 7.19% | 0.51% | 0.39% | 2.45% | 5% | $5,348 |
Year Ended 4/30/2020 | $10.21 | 0.52% | 0.50% | 0.39% | 2.64% | 6% | $5,307 |
Year Ended 4/30/2019 | $10.43 | 5.39% | 0.51% | 0.38% | 3.02% | 17% | $3,231 |
Year Ended 4/30/2018 | $10.20 | 1.46% | 0.52% | 0.38% | 2.95% | 5% | $866 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 27 |
April 30, 2022
28 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 29 |
April 30, 2022
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
13,620,848 | — | — |
30 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Effective rate (%) | |
Class A | 0.11 |
Advisor Class | 0.10 |
Class C | 0.11 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 31 |
April 30, 2022
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 21,749 |
Class C | — | 1.00(b) | 141 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2021 through August 31, 2022 | Prior to September 1, 2021 | |
Class A | 0.75% | 0.75% |
Advisor Class | 0.50 | 0.50 |
Class C | 1.50 | 1.50 |
Institutional Class | 0.50 | 0.50 |
Institutional 2 Class | 0.45 | 0.44 |
Institutional 3 Class | 0.40 | 0.39 |
32 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
32 | (32) | — |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
12,611 | 9,771,663 | — | 9,784,274 | 52,808 | 10,574,136 | — | 10,626,944 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
— | 788,721 | — | (4,696,124) | (9,693,781) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
416,084,892 | 3,494,873 | (13,188,654) | (9,693,781) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(4,558,845) | (137,279) | (4,696,124) | — |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 33 |
April 30, 2022
34 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 35 |
April 30, 2022
36 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 37 |
38 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
Exempt- interest dividends | |
99.87% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 39 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
40 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 41 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 174 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 176 | Director, Blue Cross Blue Shield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation since 1998 |
42 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 43 |
(Unaudited)
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
44 | Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia California Intermediate Municipal Bond Fund | Annual Report 2022 | 45 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2022
3 | |
5 | |
7 | |
8 | |
14 | |
15 | |
16 | |
18 | |
22 | |
31 | |
32 | |
32 | |
38 |
(Unaudited)
Average annual total returns (%) (for the period ended April 30, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/05/89 | -7.32 | 0.64 | 1.24 |
Including sales charges | -10.08 | 0.04 | 0.94 | ||
Advisor Class* | 03/19/13 | -7.08 | 0.91 | 1.51 | |
Class C | Excluding sales charges | 06/17/92 | -8.01 | -0.11 | 0.49 |
Including sales charges | -8.92 | -0.11 | 0.49 | ||
Institutional Class | 09/20/89 | -7.09 | 0.89 | 1.50 | |
Institutional 3 Class* | 03/01/17 | -7.08 | 0.97 | 1.54 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -7.28 | 1.62 | 2.21 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at April 30, 2022) | |
AAA rating | 8.6 |
AA rating | 57.9 |
A rating | 15.2 |
BBB rating | 11.7 |
BB rating | 0.6 |
Not rated | 6.0 |
Total | 100.0 |
4 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
• | As interest rates rose during the period, the Fund’s duration, which was shorter than that of the benchmark, contributed to Fund performance. |
• | The Fund benefited from its overweighted exposures to lower investment-grade as well as holdings of non-investment grade (high-yield) securities and hospital and transportation sectors during the period. |
• | Security selection benefited Fund performance, particularly within the AA-rated category as well as within the hospital, continuing care retirement community (CCRC) (namely, Sunnyside Presbyterian CCRC and Westminster Canterbury CCRC) and leasing sectors. |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 5 |
(Unaudited)
• | The Fund’s underweighted allocation to local Virginia general obligation bonds during the period detracted from performance versus the benchmark. |
• | Security selection within the housing sector also weighed on Fund performance during the period. |
6 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
November 1, 2021 — April 30, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 929.80 | 1,020.89 | 3.90 | 4.08 | 0.81 |
Advisor Class | 1,000.00 | 1,000.00 | 931.10 | 1,022.14 | 2.70 | 2.82 | 0.56 |
Class C | 1,000.00 | 1,000.00 | 926.40 | 1,017.15 | 7.49 | 7.85 | 1.56 |
Institutional Class | 1,000.00 | 1,000.00 | 931.00 | 1,022.14 | 2.70 | 2.82 | 0.56 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 930.70 | 1,022.54 | 2.31 | 2.42 | 0.48 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 7 |
April 30, 2022
Floating Rate Notes 0.7% | ||||
Issue Description | Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.7% | ||||
Virginia College Building Authority(a),(b) | ||||
Revenue Bonds | ||||
University of Richmond Project | ||||
Series 2009 (Wells Fargo Bank) | ||||
11/01/2036 | 0.350% | 700,000 | 700,000 | |
Total Floating Rate Notes (Cost $700,000) | 700,000 | |||
Municipal Bonds 99.8% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 6.2% | ||||
Capital Region Airport Commission | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
07/01/2034 | 4.000% | 1,125,000 | 1,134,821 | |
Metropolitan Washington Airports Authority(c) | ||||
Refunding Revenue Bonds | ||||
Airport System | ||||
Series 2019A | ||||
10/01/2033 | 5.000% | 2,000,000 | 2,180,030 | |
Forward Delivery | ||||
Series 2020A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,197,414 | |
Norfolk Airport Authority | ||||
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,100,275 | |
Total | 6,612,540 | |||
Higher Education 6.1% | ||||
Amherst Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Educational Facilities Sweet Briar Institute | ||||
Series 2006 | ||||
09/01/2026 | 5.000% | 665,000 | 640,904 | |
Virginia College Building Authority | ||||
Revenue Bonds | ||||
Washington & Lee University Project | ||||
Series 1998 (NPFGC) | ||||
01/01/2026 | 5.250% | 2,555,000 | 2,698,426 | |
Virginia Commonwealth University | ||||
Refunding Revenue Bonds | ||||
General Pledge | ||||
Series 2018A | ||||
11/01/2031 | 5.000% | 400,000 | 448,392 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Virginia Polytechnic Institute & State University | ||||
Revenue Bonds | ||||
General Dorm and Dining Hall | ||||
Series 2015A | ||||
06/01/2027 | 4.000% | 2,650,000 | 2,761,218 | |
Total | 6,548,940 | |||
Hospital 11.7% | ||||
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Hospital Center | ||||
Series 2020 | ||||
07/01/2033 | 5.000% | 400,000 | 447,095 | |
Fairfax County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Inova Health System | ||||
Series 2018 | ||||
05/15/2026 | 5.000% | 1,500,000 | 1,637,396 | |
Lynchburg Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Centra Health Obligation Group | ||||
Series 2021 | ||||
01/01/2036 | 5.000% | 875,000 | 978,191 | |
Norfolk Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2012B | ||||
11/01/2027 | 5.000% | 1,735,000 | 1,763,402 | |
Series 2018A (Mandatory Put 11/01/28) | ||||
11/01/2048 | 5.000% | 300,000 | 338,504 | |
Roanoke Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Carilion Clinic Obligated Group | ||||
Series 2020 (Mandatory Put 07/01/30) | ||||
07/01/2053 | 5.000% | 2,500,000 | 2,786,093 | |
Stafford County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Mary Washington Healthcare | ||||
Series 2016 | ||||
06/15/2030 | 5.000% | 1,300,000 | 1,397,967 | |
06/15/2033 | 5.000% | 200,000 | 214,271 | |
06/15/2035 | 5.000% | 1,000,000 | 1,069,760 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
Sentara Healthcare | ||||
Series 2020 | ||||
11/01/2030 | 5.000% | 220,000 | 250,748 | |
11/01/2031 | 5.000% | 270,000 | 306,972 |
8 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Winchester Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Valley Health System Obligation Group | ||||
Series 2015 | ||||
01/01/2032 | 5.000% | 1,250,000 | 1,334,368 | |
Total | 12,524,767 | |||
Investor Owned 0.9% | ||||
Louisa Industrial Development Authority | ||||
Revenue Bonds | ||||
Virginia Electric and Power Co. Project | ||||
Series 2008B (Mandatory Put 09/02/25) | ||||
11/01/2035 | 0.750% | 1,000,000 | 926,078 | |
Local Appropriation 3.8% | ||||
Arlington County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
02/15/2029 | 5.000% | 1,000,000 | 1,118,802 | |
Fairfax County Economic Development Authority | ||||
Revenue Bonds | ||||
Metrorail Parking Systems | ||||
Series 2017 | ||||
04/01/2033 | 5.000% | 745,000 | 821,097 | |
Henry County Industrial Development Authority | ||||
Revenue Bonds | ||||
Public Facility Lease | ||||
Series 2018 | ||||
11/01/2036 | 4.000% | 1,000,000 | 1,032,253 | |
Loudoun County Economic Development Authority | ||||
Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,035,000 | 1,098,158 | |
Total | 4,070,310 | |||
Local General Obligation 7.5% | ||||
City of Alexandria Virginia | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2017C | ||||
07/01/2030 | 4.000% | 1,000,000 | 1,052,867 | |
City of Richmond | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2015B | ||||
03/01/2028 | 4.000% | 2,000,000 | 2,074,315 | |
County of Arlington | ||||
Unlimited General Obligation Bonds | ||||
Series 2017 | ||||
08/15/2034 | 4.000% | 2,000,000 | 2,084,107 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Fairfax | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
10/01/2035 | 5.000% | 1,000,000 | 1,129,094 | |
Virginia Public School Authority | ||||
Revenue Bonds | ||||
Series 2021 | ||||
08/15/2028 | 5.000% | 1,500,000 | 1,706,254 | |
Total | 8,046,637 | |||
Multi-Family 1.8% | ||||
Virginia Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2020B (HUD) | ||||
03/01/2031 | 1.650% | 1,630,000 | 1,428,038 | |
Series 2020E | ||||
07/01/2035 | 2.100% | 650,000 | 543,053 | |
Total | 1,971,091 | |||
Other Bond Issue 2.2% | ||||
Montgomery County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Tech Foundation | ||||
Series 2017A | ||||
06/01/2029 | 5.000% | 200,000 | 222,463 | |
Series 2019 | ||||
06/01/2031 | 5.000% | 1,200,000 | 1,366,906 | |
Western Regional Jail Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 750,000 | 813,684 | |
Total | 2,403,053 | |||
Pool / Bond Bank 1.0% | ||||
Virginia Resources Authority | ||||
Refunding Revenue Bonds | ||||
Virginia Infrastructure Pooled | ||||
Series 2017F | ||||
11/01/2034 | 4.000% | 1,000,000 | 1,046,356 | |
Ports 1.7% | ||||
Virginia Port Authority Commonwealth Port Fund(c) | ||||
Refunding Revenue Bonds | ||||
Series 2020B | ||||
07/01/2028 | 5.000% | 1,615,000 | 1,804,477 | |
Refunded / Escrowed 15.8% | ||||
Albermarle County Economic Development Authority | ||||
Prerefunded 01/01/23 Revenue Bonds | ||||
Westminster-Canterbury of the Blue Ridge | ||||
Series 2012 | ||||
01/01/2032 | 4.625% | 2,000,000 | 2,035,473 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 9 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Chesapeake Bay Bridge & Tunnel District | ||||
Refunding Revenue Bonds | ||||
General Resolution | ||||
Series 1998 Escrowed to Maturity (NPFGC) | ||||
07/01/2025 | 5.500% | 4,000,000 | 4,274,275 | |
City of Norfolk | ||||
Prerefunded 08/01/28 Unlimited General Obligation Bonds | ||||
Capital Improvement | ||||
08/01/2033 | 5.000% | 1,000,000 | 1,138,083 | |
Greater Richmond Convention Center Authority | ||||
Prerefunded 06/15/25 Revenue Bonds | ||||
Series 2015 | ||||
06/15/2029 | 5.000% | 1,350,000 | 1,454,663 | |
06/15/2030 | 5.000% | 1,540,000 | 1,659,393 | |
Hampton Roads Sanitation District | ||||
Prerefunded 08/01/26 Revenue Bonds | ||||
Subordinated Series 2016A | ||||
08/01/2031 | 5.000% | 2,000,000 | 2,199,694 | |
Hampton Roads Transportation Accountability Commission | ||||
Prerefunded 01/01/28 Revenue Bonds | ||||
Senior Lien Hampton Roads Transportation Fund | ||||
Series 2018A | ||||
07/01/2032 | 5.000% | 1,150,000 | 1,284,747 | |
Hanover County Economic Development Authority | ||||
Prerefunded 07/01/22 Revenue Bonds | ||||
Covenant Woods | ||||
Series 2012A | ||||
07/01/2022 | 4.000% | 210,000 | 210,864 | |
Rappahannock Regional Jail Authority | ||||
Prerefunded 10/01/25 Revenue Bonds | ||||
Series 2015 | ||||
10/01/2030 | 5.000% | 1,725,000 | 1,867,105 | |
Western Regional Jail Authority | ||||
Prerefunded 12/01/25 Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 750,000 | 813,148 | |
Total | 16,937,445 | |||
Retirement Communities 6.0% | ||||
Albemarle County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster-Canterbury of the Blue Ridge | ||||
Series 2022 | ||||
06/01/2042 | 4.000% | 1,000,000 | 979,673 | |
Hanover County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Covenant Woods | ||||
Series 2018 | ||||
07/01/2038 | 5.000% | 380,000 | 393,062 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Henrico County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Westminster Canterbury of Richmond | ||||
Series 2020 | ||||
10/01/2033 | 4.000% | 500,000 | 509,307 | |
Westminster Canterbury Project | ||||
Series 2018 | ||||
10/01/2037 | 5.000% | 1,500,000 | 1,583,936 | |
Rockingham County Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Sunnyside Presbyterian Home | ||||
Series 2020 | ||||
12/01/2039 | 5.000% | 2,000,000 | 2,152,589 | |
Virginia Small Business Financing Authority | ||||
Refunding Revenue Bonds | ||||
National Senior Campuses | ||||
Series 2020 | ||||
01/01/2027 | 5.000% | 325,000 | 347,842 | |
01/01/2029 | 5.000% | 400,000 | 435,062 | |
Total | 6,401,471 | |||
Sales Tax 2.0% | ||||
Northern Virginia Transportation Authority | ||||
Revenue Bonds | ||||
Series 2014 | ||||
06/01/2032 | 5.000% | 2,000,000 | 2,102,159 | |
Special Non Property Tax 0.5% | ||||
Hampton Roads Transportation Accountability Commission | ||||
Revenue Bonds | ||||
Senior Lien | ||||
Series 2020A | ||||
07/01/2033 | 5.000% | 500,000 | 568,045 | |
Special Property Tax 4.8% | ||||
Dulles Town Center Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Dulles Town Center Project | ||||
Series 2012 | ||||
03/01/2023 | 4.000% | 1,000,000 | 995,130 | |
Fairfax County Economic Development Authority | ||||
Refunding Special Tax Bonds | ||||
Silver Line Phase I Project | ||||
Series 2016 | ||||
04/01/2031 | 4.000% | 1,000,000 | 1,042,731 | |
04/01/2032 | 4.000% | 1,000,000 | 1,041,224 | |
Marquis Community Development Authority of York County(d),(e),(f) | ||||
Revenue Bonds | ||||
Convertible | ||||
Series 2015 | ||||
09/01/2045 | 7.500% | 644,000 | 298,546 |
10 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Marquis Community Development Authority of York County(e) | ||||
Tax Allocation Bonds | ||||
Series 2007B | ||||
09/01/2041 | 5.625% | 2,084,000 | 949,966 | |
Marquis Community Development Authority of York County(g) | ||||
Tax Allocation Bonds | ||||
Series 2007C | ||||
09/01/2041 | 0.000% | 3,164,000 | 151,628 | |
Virginia Gateway Community Development Authority | ||||
Refunding Special Assessment Bonds | ||||
Series 2012 | ||||
03/01/2025 | 5.000% | 690,000 | 689,950 | |
Total | 5,169,175 | |||
State Appropriated 5.5% | ||||
Virginia College Building Authority | ||||
Revenue Bonds | ||||
21st Century College Program | ||||
Series 2017 | ||||
02/01/2034 | 4.000% | 1,500,000 | 1,551,593 | |
Virginia Commonwealth Transportation Board | ||||
Refunding Revenue Bonds | ||||
Northern Virginia Transportation District Program | ||||
Series 2019 | ||||
05/15/2031 | 5.000% | 1,000,000 | 1,128,866 | |
Virginia Public Building Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
08/01/2035 | 4.000% | 1,500,000 | 1,541,638 | |
Series 2019A | ||||
08/01/2031 | 5.000% | 1,500,000 | 1,713,591 | |
Total | 5,935,688 | |||
Transportation 11.8% | ||||
Virginia Commonwealth Transportation Board | ||||
Refunding Revenue Bonds | ||||
GARVEE Notes | ||||
Series 2017 | ||||
03/15/2028 | 5.000% | 1,000,000 | 1,112,768 | |
Revenue Bonds | ||||
Series 2016 | ||||
05/15/2030 | 4.000% | 500,000 | 520,146 | |
Series 2018 | ||||
05/15/2036 | 4.000% | 2,000,000 | 2,129,742 | |
Washington Metropolitan Area Transit Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A-1 | ||||
07/01/2029 | 5.000% | 2,500,000 | 2,762,584 | |
Revenue Bonds | ||||
Series 2017B | ||||
07/01/2034 | 5.000% | 2,000,000 | 2,181,927 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018 | ||||
07/01/2036 | 5.000% | 500,000 | 544,486 | |
07/01/2037 | 5.000% | 1,000,000 | 1,088,473 | |
Series 2020A | ||||
07/15/2037 | 5.000% | 2,000,000 | 2,256,088 | |
Total | 12,596,214 | |||
Turnpike / Bridge / Toll Road 8.4% | ||||
City of Chesapeake Expressway Toll Road | ||||
Revenue Bonds | ||||
Transportation System | ||||
Series 2012A | ||||
07/15/2023 | 5.000% | 1,025,000 | 1,030,626 | |
07/15/2027 | 5.000% | 1,000,000 | 1,004,773 | |
Metropolitan Washington Airports Authority Dulles Toll Road(g) | ||||
Revenue Bonds | ||||
Capital Appreciation - 2nd Senior Lien | ||||
Series 2009B (AGM) | ||||
10/01/2023 | 0.000% | 5,000,000 | 4,805,222 | |
Virginia Small Business Financing Authority(c) | ||||
Refunding Revenue Bonds | ||||
Senior Lien - 95 Express Lanes LLC Project | ||||
Series 2022 | ||||
01/01/2038 | 5.000% | 500,000 | 535,755 | |
Senior Lien - I-495 HOT Lanes Project | ||||
Series 2022 | ||||
06/30/2038 | 5.000% | 300,000 | 328,940 | |
12/31/2038 | 5.000% | 300,000 | 328,940 | |
Virginia Small Business Financing Authority(c),(h) | ||||
Revenue Bonds | ||||
Senior Lien - Elizabeth River Crossings Opco LLC | ||||
Series 2022 | ||||
01/01/2038 | 4.000% | 1,000,000 | 978,991 | |
Total | 9,013,247 | |||
Water & Sewer 2.1% | ||||
Fairfax County Water Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2029 | 5.000% | 2,000,000 | 2,218,838 | |
Total Municipal Bonds (Cost $111,728,539) | 106,896,531 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 11 |
April 30, 2022
Money Market Funds 0.2% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.318%(i) | 108,456 | 108,446 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.283%(i) | 158,134 | 158,134 |
Total Money Market Funds (Cost $266,590) | 266,580 | |
Total Investments in Securities (Cost: $112,695,129) | 107,863,111 | |
Other Assets & Liabilities, Net | (758,674) | |
Net Assets | 107,104,437 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of April 30, 2022. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2022, the total value of these securities amounted to $298,546, which represents 0.28% of total net assets. |
(e) | Partial payment received at last interest date. |
(f) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of April 30, 2022. |
(g) | Zero coupon bond. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | The rate shown is the seven-day current annualized yield at April 30, 2022. |
AGM | Assured Guaranty Municipal Corporation |
HUD | Department of Housing and Urban Development |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 700,000 | — | 700,000 |
Municipal Bonds | — | 106,896,531 | — | 106,896,531 |
Money Market Funds | 266,580 | — | — | 266,580 |
Total Investments in Securities | 266,580 | 107,596,531 | — | 107,863,111 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 13 |
April 30, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $112,695,129) | $107,863,111 |
Cash | 172 |
Receivable for: | |
Capital shares sold | 223,796 |
Interest | 1,285,408 |
Expense reimbursement due from Investment Manager | 260 |
Prepaid expenses | 5,888 |
Total assets | 109,378,635 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 1,105,640 |
Capital shares purchased | 837,466 |
Distributions to shareholders | 172,466 |
Management services fees | 1,390 |
Distribution and/or service fees | 209 |
Transfer agent fees | 4,204 |
Compensation of board members | 135,356 |
Other expenses | 17,467 |
Total liabilities | 2,274,198 |
Net assets applicable to outstanding capital stock | $107,104,437 |
Represented by | |
Paid in capital | 112,425,298 |
Total distributable earnings (loss) | (5,320,861) |
Total - representing net assets applicable to outstanding capital stock | $107,104,437 |
Class A | |
Net assets | $25,627,263 |
Shares outstanding | 2,628,171 |
Net asset value per share | $9.75 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.05 |
Advisor Class | |
Net assets | $2,880,845 |
Shares outstanding | 295,213 |
Net asset value per share | $9.76 |
Class C | |
Net assets | $1,247,546 |
Shares outstanding | 127,822 |
Net asset value per share | $9.76 |
Institutional Class | |
Net assets | $19,847,798 |
Shares outstanding | 2,035,748 |
Net asset value per share | $9.75 |
Institutional 3 Class | |
Net assets | $57,500,985 |
Shares outstanding | 5,883,313 |
Net asset value per share | $9.77 |
14 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended April 30, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $391 |
Interest | 3,418,080 |
Total income | 3,418,471 |
Expenses: | |
Management services fees | 613,778 |
Distribution and/or service fees | |
Class A | 73,094 |
Class C | 17,200 |
Transfer agent fees | |
Class A | 27,011 |
Advisor Class | 2,497 |
Class C | 1,595 |
Institutional Class | 20,972 |
Institutional 3 Class | 3,960 |
Compensation of board members | 26,257 |
Custodian fees | 1,299 |
Printing and postage fees | 12,844 |
Registration fees | 16,267 |
Audit fees | 29,500 |
Legal fees | 12,154 |
Compensation of chief compliance officer | 20 |
Other | 11,219 |
Total expenses | 869,667 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (110,884) |
Expense reduction | (20) |
Total net expenses | 758,763 |
Net investment income | 2,659,708 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 172,287 |
Net realized gain | 172,287 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (11,605,134) |
Net change in unrealized appreciation (depreciation) | (11,605,134) |
Net realized and unrealized loss | (11,432,847) |
Net decrease in net assets resulting from operations | $(8,773,139) |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 15 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | |
Operations | ||
Net investment income | $2,659,708 | $3,364,877 |
Net realized gain | 172,287 | 74,407 |
Net change in unrealized appreciation (depreciation) | (11,605,134) | 4,565,772 |
Net increase (decrease) in net assets resulting from operations | (8,773,139) | 8,005,056 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (662,548) | (573,166) |
Advisor Class | (69,204) | (35,603) |
Class C | (26,297) | (27,718) |
Institutional Class | (566,719) | (618,517) |
Institutional 3 Class | (1,925,905) | (2,249,860) |
Total distributions to shareholders | (3,250,673) | (3,504,864) |
Decrease in net assets from capital stock activity | (23,101,611) | (1,298,995) |
Total increase (decrease) in net assets | (35,125,423) | 3,201,197 |
Net assets at beginning of year | 142,229,860 | 139,028,663 |
Net assets at end of year | $107,104,437 | $142,229,860 |
16 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended | Year Ended | |||
April 30, 2022 | April 30, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 334,671 | 3,552,896 | 622,057 | 6,699,388 |
Distributions reinvested | 43,654 | 459,916 | 32,201 | 346,743 |
Redemptions | (483,983) | (5,010,014) | (225,524) | (2,426,151) |
Net increase (decrease) | (105,658) | (997,202) | 428,734 | 4,619,980 |
Advisor Class | ||||
Subscriptions | 212,914 | 2,282,013 | 174,907 | 1,885,006 |
Distributions reinvested | 5,397 | 56,657 | 3,278 | 35,337 |
Redemptions | (130,437) | (1,375,418) | (34,679) | (366,346) |
Net increase | 87,874 | 963,252 | 143,506 | 1,553,997 |
Class C | ||||
Subscriptions | 10,425 | 112,380 | 52,738 | 569,956 |
Distributions reinvested | 2,363 | 25,037 | 2,435 | 26,241 |
Redemptions | (67,262) | (712,524) | (62,256) | (671,157) |
Net decrease | (54,474) | (575,107) | (7,083) | (74,960) |
Institutional Class | ||||
Subscriptions | 229,441 | 2,443,592 | 470,262 | 5,051,695 |
Distributions reinvested | 42,088 | 443,610 | 40,814 | 439,425 |
Redemptions | (488,357) | (5,156,820) | (613,050) | (6,610,693) |
Net decrease | (216,828) | (2,269,618) | (101,974) | (1,119,573) |
Institutional 3 Class | ||||
Subscriptions | 301,861 | 3,227,555 | 781,373 | 8,440,077 |
Distributions reinvested | 8,388 | 88,741 | 7,327 | 79,105 |
Redemptions | (2,246,602) | (23,539,232) | (1,370,751) | (14,797,621) |
Net decrease | (1,936,353) | (20,222,936) | (582,051) | (6,278,439) |
Total net decrease | (2,225,439) | (23,101,611) | (118,868) | (1,298,995) |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 4/30/2022 | $10.76 | 0.19 | (0.96) | (0.77) | (0.20) | (0.04) | (0.24) |
Year Ended 4/30/2021 | $10.43 | 0.22 | 0.34 | 0.56 | (0.22) | (0.01) | (0.23) |
Year Ended 4/30/2020 | $10.55 | 0.26 | (0.11) | 0.15 | (0.27) | (0.00)(d) | (0.27) |
Year Ended 4/30/2019 | $10.44 | 0.27 | 0.21 | 0.48 | (0.29) | (0.08) | (0.37) |
Year Ended 4/30/2018 | $10.79 | 0.27 | (0.31) | (0.04) | (0.28) | (0.03) | (0.31) |
Advisor Class | |||||||
Year Ended 4/30/2022 | $10.77 | 0.21 | (0.96) | (0.75) | (0.22) | (0.04) | (0.26) |
Year Ended 4/30/2021 | $10.43 | 0.25 | 0.35 | 0.60 | (0.25) | (0.01) | (0.26) |
Year Ended 4/30/2020 | $10.55 | 0.29 | (0.12) | 0.17 | (0.29) | (0.00)(d) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.31) | (0.08) | (0.39) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
Class C | |||||||
Year Ended 4/30/2022 | $10.77 | 0.11 | (0.96) | (0.85) | (0.12) | (0.04) | (0.16) |
Year Ended 4/30/2021 | $10.44 | 0.14 | 0.34 | 0.48 | (0.14) | (0.01) | (0.15) |
Year Ended 4/30/2020 | $10.55 | 0.18 | (0.10) | 0.08 | (0.19) | (0.00)(d) | (0.19) |
Year Ended 4/30/2019 | $10.45 | 0.20 | 0.19 | 0.39 | (0.21) | (0.08) | (0.29) |
Year Ended 4/30/2018 | $10.80 | 0.19 | (0.31) | (0.12) | (0.20) | (0.03) | (0.23) |
Institutional Class | |||||||
Year Ended 4/30/2022 | $10.76 | 0.22 | (0.97) | (0.75) | (0.22) | (0.04) | (0.26) |
Year Ended 4/30/2021 | $10.43 | 0.25 | 0.34 | 0.59 | (0.25) | (0.01) | (0.26) |
Year Ended 4/30/2020 | $10.54 | 0.29 | (0.11) | 0.18 | (0.29) | (0.00)(d) | (0.29) |
Year Ended 4/30/2019 | $10.44 | 0.30 | 0.20 | 0.50 | (0.32) | (0.08) | (0.40) |
Year Ended 4/30/2018 | $10.79 | 0.30 | (0.31) | (0.01) | (0.31) | (0.03) | (0.34) |
18 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 4/30/2022 | $9.75 | (7.32%) | 0.90% | 0.81%(c) | 1.80% | 11% | $25,627 |
Year Ended 4/30/2021 | $10.76 | 5.42% | 0.91% | 0.81% | 2.07% | 10% | $29,427 |
Year Ended 4/30/2020 | $10.43 | 1.35% | 0.87% | 0.81% | 2.47% | 12% | $24,036 |
Year Ended 4/30/2019 | $10.55 | 4.69% | 0.88% | 0.81%(c) | 2.63% | 13% | $23,706 |
Year Ended 4/30/2018 | $10.44 | (0.39%) | 0.89% | 0.81%(c) | 2.55% | 14% | $27,005 |
Advisor Class | |||||||
Year Ended 4/30/2022 | $9.76 | (7.08%) | 0.64% | 0.56%(c) | 2.02% | 11% | $2,881 |
Year Ended 4/30/2021 | $10.77 | 5.78% | 0.66% | 0.56% | 2.31% | 10% | $2,233 |
Year Ended 4/30/2020 | $10.43 | 1.60% | 0.61% | 0.55% | 2.70% | 12% | $666 |
Year Ended 4/30/2019 | $10.55 | 4.95% | 0.63% | 0.56%(c) | 2.87% | 13% | $274 |
Year Ended 4/30/2018 | $10.44 | (0.14%) | 0.63% | 0.56%(c) | 2.80% | 14% | $1,823 |
Class C | |||||||
Year Ended 4/30/2022 | $9.76 | (8.01%) | 1.65% | 1.56%(c) | 1.08% | 11% | $1,248 |
Year Ended 4/30/2021 | $10.77 | 4.63% | 1.66% | 1.56% | 1.32% | 10% | $1,964 |
Year Ended 4/30/2020 | $10.44 | 0.69% | 1.62% | 1.56% | 1.73% | 12% | $1,976 |
Year Ended 4/30/2019 | $10.55 | 3.81% | 1.63% | 1.56%(c) | 1.88% | 13% | $2,786 |
Year Ended 4/30/2018 | $10.45 | (1.13%) | 1.64% | 1.56%(c) | 1.79% | 14% | $3,824 |
Institutional Class | |||||||
Year Ended 4/30/2022 | $9.75 | (7.09%) | 0.65% | 0.56%(c) | 2.06% | 11% | $19,848 |
Year Ended 4/30/2021 | $10.76 | 5.68% | 0.66% | 0.56% | 2.32% | 10% | $24,243 |
Year Ended 4/30/2020 | $10.43 | 1.70% | 0.62% | 0.55% | 2.72% | 12% | $24,546 |
Year Ended 4/30/2019 | $10.54 | 4.86% | 0.63% | 0.56%(c) | 2.88% | 13% | $22,698 |
Year Ended 4/30/2018 | $10.44 | (0.15%) | 0.65% | 0.56%(c) | 2.76% | 14% | $29,199 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $10.79 | 0.23 | (0.98) | (0.75) | (0.23) | (0.04) | (0.27) |
Year Ended 4/30/2021 | $10.45 | 0.26 | 0.35 | 0.61 | (0.26) | (0.01) | (0.27) |
Year Ended 4/30/2020 | $10.57 | 0.30 | (0.12) | 0.18 | (0.30) | (0.00)(d) | (0.30) |
Year Ended 4/30/2019 | $10.46 | 0.31 | 0.21 | 0.52 | (0.33) | (0.08) | (0.41) |
Year Ended 4/30/2018 | $10.82 | 0.31 | (0.32) | (0.01) | (0.32) | (0.03) | (0.35) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Rounds to zero. |
20 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $9.77 | (7.08%) | 0.56% | 0.48% | 2.14% | 11% | $57,501 |
Year Ended 4/30/2021 | $10.79 | 5.86% | 0.58% | 0.47% | 2.40% | 10% | $84,363 |
Year Ended 4/30/2020 | $10.45 | 1.69% | 0.53% | 0.47% | 2.81% | 12% | $87,804 |
Year Ended 4/30/2019 | $10.57 | 5.04% | 0.54% | 0.47% | 2.97% | 13% | $88,421 |
Year Ended 4/30/2018 | $10.46 | (0.13%) | 0.54% | 0.48% | 2.91% | 14% | $102,071 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 21 |
April 30, 2022
22 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 23 |
April 30, 2022
24 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.09 |
Institutional Class | 0.09 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 7,320 |
Class C | — | 1.00(b) | 278 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 25 |
April 30, 2022
Fee rate(s) contractual through August 31, 2022 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.48 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(24) | 24 | — |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
61,990 | 2,708,940 | 479,743 | 3,250,673 | 69,355 | 3,316,525 | 118,984 | 3,504,864 |
26 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
— | 165,286 | — | — | (4,880,043) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
112,743,154 | 929,873 | (5,809,916) | (4,880,043) |
Late year ordinary losses ($) | Post-October capital losses ($) |
— | 299,339 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 27 |
April 30, 2022
28 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 29 |
April 30, 2022
30 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 31 |
Capital gain dividend | Exempt- interest dividends |
$482,448 | 98.19% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
32 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 33 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
34 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 174 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 176 | Director, Blue Cross Blue Shield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation since 1998 |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
36 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 | 37 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
38 | Columbia Virginia Intermediate Municipal Bond Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2022
3 | |
5 | |
7 | |
8 | |
14 | |
15 | |
16 | |
18 | |
20 | |
29 | |
30 | |
30 | |
36 |
(Unaudited)
Average annual total returns (%) (for the period ended April 30, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/05/92 | -6.47 | 0.99 | 1.48 |
Including sales charges | -9.26 | 0.39 | 1.18 | ||
Advisor Class* | 03/19/13 | -6.24 | 1.26 | 1.74 | |
Class C | Excluding sales charges | 06/17/92 | -7.26 | 0.24 | 0.72 |
Including sales charges | -8.18 | 0.24 | 0.72 | ||
Institutional Class | 01/06/92 | -6.32 | 1.24 | 1.73 | |
Institutional 3 Class* | 03/01/17 | -6.20 | 1.36 | 1.79 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -7.28 | 1.62 | 2.21 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at April 30, 2022) | |
AAA rating | 6.2 |
AA rating | 42.0 |
A rating | 48.0 |
BBB rating | 2.3 |
BB rating | 1.1 |
Not rated | 0.4 |
Total | 100.0 |
4 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
• | The Fund’s duration positioning contributed to the Fund’s performance versus the benchmark during the period. |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 5 |
(Unaudited)
○ | The Fund began the period with a duration below that of the benchmark as our view on the market was becoming less constructive. Building inflation pressures and the Fed’s plans to wind down its asset purchases and begin a cycle of raising interest rates prompted us to transition to a more defensive posture. |
○ | The Fund’s duration relative to its benchmark fluctuated between roughly one-half year short to one-quarter year short throughout the period. Maintaining a below benchmark duration position benefitted the Fund as interest rates rose quickly at the start of 2022. |
• | The Fund’s pre-refunded bonds, which had an average maturity of less than two years, and exposure to bonds maturing in less than two years also contributed to performance. In an environment of rising interest rates, shorter maturity bonds tend to outperform their longer maturity counterparts. |
• | The timing of some Fund purchases in the summer and late autumn of 2021 detracted from total returns for the Fund as these purchases were executed at the low in yields for the period. |
• | Exposure to 4% coupon bonds, while less than the benchmark, weighed on Fund performance as this coupon structure underperformed during the selloff. |
• | Lastly, the Fund’s overweighting to local appropriation issues detracted from performance as they underperformed most sectors. Local appropriation issues are a very common municipal structure in South Carolina and represented the Fund’s largest sector weight. |
6 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
November 1, 2021 — April 30, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 935.50 | 1,020.94 | 3.86 | 4.03 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 936.60 | 1,022.19 | 2.66 | 2.77 | 0.55 |
Class C | 1,000.00 | 1,000.00 | 931.10 | 1,017.20 | 7.46 | 7.80 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 936.70 | 1,022.19 | 2.66 | 2.77 | 0.55 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 936.40 | 1,022.69 | 2.17 | 2.27 | 0.45 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 7 |
April 30, 2022
Municipal Bonds 98.8% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 0.6% | ||||
Charleston County Airport District | ||||
Revenue Bonds | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 500,000 | 552,482 | |
Charter Schools 1.0% | ||||
South Carolina Jobs-Economic Development Authority(a) | ||||
Revenue Bonds | ||||
Series 2015A | ||||
08/15/2035 | 5.125% | 1,000,000 | 1,027,700 | |
Higher Education 8.7% | ||||
Clemson University | ||||
Revenue Bonds | ||||
Athletic Facility | ||||
Series 2014A | ||||
05/01/2028 | 5.000% | 1,170,000 | 1,247,644 | |
Coastal Carolina University | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2024 | 5.000% | 1,500,000 | 1,574,439 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Furman University | ||||
Series 2015 | ||||
10/01/2032 | 5.000% | 1,895,000 | 2,005,831 | |
Revenue Bonds | ||||
Wofford College Project | ||||
Series 2019 | ||||
04/01/2037 | 5.000% | 885,000 | 968,067 | |
University of South Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
05/01/2034 | 5.000% | 1,500,000 | 1,647,164 | |
Revenue Bonds | ||||
Campus Village Project | ||||
Series 2021A | ||||
05/01/2037 | 5.000% | 1,000,000 | 1,152,312 | |
Total | 8,595,457 | |||
Hospital 9.8% | ||||
County of Florence | ||||
Refunding Revenue Bonds | ||||
McLeod Regional Medical Center Project | ||||
Series 2014 | ||||
11/01/2031 | 5.000% | 1,500,000 | 1,579,249 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Lexington County Health Services District, Inc. | ||||
Refunding Revenue Bonds | ||||
Lexington Medical Center Obligated Group | ||||
Series 2017 | ||||
11/01/2032 | 4.000% | 1,050,000 | 1,068,669 | |
Revenue Bonds | ||||
Lexington Medical Center | ||||
Series 2016 | ||||
11/01/2034 | 5.000% | 1,500,000 | 1,607,408 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Prisma Health Obligated Group | ||||
Series 2018 | ||||
05/01/2036 | 5.000% | 2,000,000 | 2,183,303 | |
Revenue Bonds | ||||
McLeod Health Obligation Group | ||||
Series 2018 | ||||
11/01/2033 | 5.000% | 1,000,000 | 1,091,980 | |
St. Joseph’s Candler Health System, Inc. | ||||
Series 2019 | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,116,411 | |
Spartanburg Regional Health Services District | ||||
Refunding Revenue Bonds | ||||
Services District, Inc. | ||||
Series 2022 | ||||
04/15/2037 | 4.000% | 1,000,000 | 1,005,634 | |
Total | 9,652,654 | |||
Joint Power Authority 4.4% | ||||
Piedmont Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2021D | ||||
01/01/2033 | 4.000% | 1,000,000 | 1,049,612 | |
South Carolina Public Service Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
12/01/2028 | 5.000% | 2,000,000 | 2,155,794 | |
Revenue Bonds | ||||
Series 2022A | ||||
12/01/2039 | 5.000% | 1,000,000 | 1,124,615 | |
Total | 4,330,021 | |||
Local Appropriation 26.3% | ||||
Aiken County Consolidated School District | ||||
Special Obligation Revenue Bonds | ||||
Series 2019 | ||||
06/01/2033 | 4.000% | 325,000 | 341,397 |
8 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Berkeley County School District | ||||
Refunding Revenue Bonds | ||||
Securing Assets for Education | ||||
Series 2015A | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,557,451 | |
Center for Arts & Health Sciences Public Facilities Corp. | ||||
Revenue Bonds | ||||
Greenville Technical College Project | ||||
Series 2022 | ||||
10/01/2039 | 4.000% | 1,000,000 | 1,041,394 | |
Charleston Educational Excellence Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Charleston County School | ||||
Series 2013 | ||||
12/01/2025 | 5.000% | 2,000,000 | 2,079,261 | |
Charleston Public Facilities Corp. | ||||
Revenue Bonds | ||||
Series 2015A | ||||
09/01/2029 | 5.000% | 1,000,000 | 1,081,046 | |
City of North Charleston | ||||
Tax Allocation Bonds | ||||
Series 2019B | ||||
10/01/2027 | 5.000% | 1,000,000 | 1,108,155 | |
Series 2022 | ||||
10/01/2039 | 4.000% | 820,000 | 847,946 | |
Tax Increment Pledge | ||||
Series 2020 | ||||
10/01/2031 | 5.000% | 300,000 | 343,160 | |
County of Dorchester | ||||
Tax Allocation Bonds | ||||
Series 2020 | ||||
10/01/2036 | 5.000% | 385,000 | 435,544 | |
Dorchester County School District No. 2 | ||||
Refunding Revenue Bonds | ||||
Growth Installment Purchase | ||||
Series 2013 | ||||
12/01/2027 | 5.000% | 1,000,000 | 1,040,038 | |
Fort Mill School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Fort Mills School District #4 | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,000,000 | 1,076,753 | |
Kershaw County School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2025 | 5.000% | 1,000,000 | 1,082,415 | |
Lexington One School Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Lexington County School District | ||||
Series 2015 | ||||
12/01/2026 | 5.000% | 835,000 | 868,960 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Lexington School District No. 2 Educational Facilities Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2026 | 5.000% | 1,815,000 | 1,947,859 | |
Newberry Investing in Children’s Education | ||||
Refunding Revenue Bonds | ||||
Newberry County School District | ||||
Series 2014 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,600,304 | |
Orangeburg County School District(b) | ||||
Revenue Bonds | ||||
Series 2022 | ||||
06/01/2039 | 5.000% | 1,000,000 | 1,051,538 | |
SCAGO Educational Facilities Corp. for Calhoun School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 (BAM) | ||||
12/01/2026 | 5.000% | 520,000 | 561,017 | |
SCAGO Educational Facilities Corp. for Cherokee School District No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2028 | 5.000% | 1,830,000 | 1,941,917 | |
SCAGO Educational Facilities Corp. for Colleton School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 5.000% | 1,295,000 | 1,372,795 | |
SCAGO Educational Facilities Corp. for Pickens School District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2029 | 5.000% | 1,500,000 | 1,593,801 | |
12/01/2030 | 5.000% | 1,275,000 | 1,354,620 | |
Sumter Two School Facilities, Inc. | ||||
Refunding Revenue Bonds | ||||
Sumter County School District No. 2 | ||||
Series 2016 (BAM) | ||||
12/01/2027 | 5.000% | 1,500,000 | 1,612,985 | |
Total | 25,940,356 | |||
Local General Obligation 9.9% | ||||
Anderson County School District No. 5 | ||||
Unlimited General Obligation Bonds | ||||
South Carolina School District Credit Enhancement Program | ||||
Series 2017 | ||||
03/01/2030 | 4.000% | 1,000,000 | 1,050,289 | |
Beaufort County School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2014B | ||||
03/01/2023 | 5.000% | 1,190,000 | 1,220,893 | |
County of Charleston | ||||
Unlimited General Obligation Bonds | ||||
Transportation Sales Tax | ||||
Series 2021 | ||||
11/01/2032 | 4.000% | 1,000,000 | 1,083,808 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 9 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Lexington & Richland School District No. 5 | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2021B | ||||
03/01/2031 | 4.000% | 1,000,000 | 1,074,802 | |
Lexington County School District No. 1 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
02/01/2031 | 4.000% | 1,000,000 | 1,059,147 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2019A (School District Credit Enhancement Program) | ||||
02/01/2031 | 5.000% | 1,000,000 | 1,123,770 | |
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2034 | 5.000% | 940,000 | 964,640 | |
Spartanburg County School District No. 7 | ||||
Unlimited General Obligation Bonds | ||||
Series 2018-B | ||||
03/01/2036 | 5.000% | 1,000,000 | 1,122,638 | |
Series 2019D | ||||
03/01/2037 | 5.000% | 1,000,000 | 1,122,555 | |
Total | 9,822,542 | |||
Municipal Power 2.9% | ||||
City of Camden Combined Public Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2020 (AGM) | ||||
03/01/2031 | 4.000% | 1,125,000 | 1,208,250 | |
City of Rock Hill Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
01/01/2032 | 5.000% | 1,000,000 | 1,119,599 | |
Easley Combined Utility System | ||||
Refunding Revenue Bonds | ||||
Easley Combined Utility System | ||||
Series 2019 (AGM) | ||||
12/01/2033 | 4.000% | 500,000 | 525,405 | |
Total | 2,853,254 | |||
Other Utility 1.5% | ||||
Patriots Energy Group | ||||
Improvement Refunding Revenue Bonds | ||||
Gas Systems | ||||
Series 2019 | ||||
06/01/2038 | 5.000% | 1,000,000 | 1,112,128 | |
Refunding Revenue Bonds | ||||
Series 2021A | ||||
06/01/2032 | 5.000% | 350,000 | 400,268 | |
Total | 1,512,396 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Ports 2.2% | ||||
South Carolina Ports Authority(c) | ||||
Revenue Bonds | ||||
Series 2019B | ||||
07/01/2033 | 5.000% | 2,000,000 | 2,175,369 | |
Refunded / Escrowed 6.3% | ||||
Anderson Regional Joint Water System | ||||
Prerefunded 07/15/22 Revenue Bonds | ||||
Series 2012 | ||||
07/15/2028 | 5.000% | 2,000,000 | 2,015,007 | |
City of Columbia | ||||
Prerefunded 02/01/24 Revenue Bonds | ||||
Series 2014 | ||||
02/01/2033 | 5.000% | 1,195,000 | 1,250,877 | |
County of Florence | ||||
Prerefunded 10/01/23 Revenue Bonds | ||||
Series 2015 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,038,877 | |
Greenville County Public Facilities Corp. | ||||
Prerefunded 04/01/24 Certificate of Participation | ||||
Series 2014 | ||||
04/01/2026 | 5.000% | 890,000 | 933,526 | |
South Carolina Jobs-Economic Development Authority | ||||
Prerefunded 11/01/22 Revenue Bonds | ||||
Bon Secours Health System, Inc. | ||||
Series 2013 | ||||
11/01/2024 | 5.000% | 450,000 | 457,524 | |
Prerefunded 11/01/24 Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2033 | 7.000% | 500,000 | 552,911 | |
Total | 6,248,722 | |||
Resource Recovery 3.4% | ||||
Three Rivers Solid Waste Authority(d) | ||||
Revenue Bonds | ||||
Capital Appreciation - Landfill Gas Project | ||||
Series 2007 | ||||
10/01/2024 | 0.000% | 1,835,000 | 1,710,859 | |
10/01/2025 | 0.000% | 1,835,000 | 1,655,740 | |
Total | 3,366,599 | |||
Retirement Communities 1.2% | ||||
South Carolina Jobs-Economic Development Authority(a) | ||||
Refunding Revenue Bonds | ||||
Wesley Commons | ||||
Series 2016 | ||||
10/01/2026 | 5.000% | 560,000 | 575,257 |
10 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Carolina Jobs-Economic Development Authority | ||||
Revenue Bonds | ||||
Bishop Gadsden Episcopal Retirement Community | ||||
Series 2019 | ||||
04/01/2034 | 4.000% | 605,000 | 596,521 | |
Total | 1,171,778 | |||
Special Non Property Tax 3.9% | ||||
City of Florence Accommodations Fee | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2030 | 4.000% | 1,000,000 | 1,027,407 | |
05/01/2035 | 5.000% | 1,000,000 | 1,054,327 | |
City of Myrtle Beach | ||||
Revenue Bonds | ||||
Hospitality Fee | ||||
Series 2014B | ||||
06/01/2030 | 5.000% | 560,000 | 588,865 | |
City of Rock Hill | ||||
Revenue Bonds | ||||
Hospitality Fee Pledge | ||||
Series 2013 | ||||
04/01/2023 | 5.000% | 695,000 | 713,473 | |
Town of Hilton Head Island | ||||
Revenue Bonds | ||||
Beach Preservation Fee Pledge | ||||
Series 2017 | ||||
08/01/2025 | 5.000% | 400,000 | 431,489 | |
Total | 3,815,561 | |||
Special Property Tax 2.1% | ||||
City of Myrtle Beach | ||||
Refunding Tax Allocation Bonds | ||||
Myrtle Beach Air Force Base | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 1,000,000 | 1,081,751 | |
County of Greenville | ||||
Revenue Bonds | ||||
Series 2021 | ||||
04/01/2038 | 4.000% | 1,000,000 | 1,034,435 | |
Total | 2,116,186 | |||
State General Obligation 2.8% | ||||
State of South Carolina | ||||
Unlimited General Obligation Bonds | ||||
Citadel Military College of South Carolina | ||||
Series 2021 | ||||
04/01/2036 | 5.000% | 1,500,000 | 1,748,219 | |
Series 2014B | ||||
04/01/2025 | 5.000% | 1,000,000 | 1,049,385 | |
Total | 2,797,604 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transportation 2.1% | ||||
South Carolina Transportation Infrastructure Bank | ||||
Refunding Revenue Bonds | ||||
Infrastructure Bank | ||||
Series 2015A | ||||
10/01/2024 | 5.000% | 2,000,000 | 2,118,345 | |
Water & Sewer 9.7% | ||||
Beaufort-Jasper Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016B | ||||
03/01/2024 | 5.000% | 1,000,000 | 1,048,475 | |
Revenue Bonds | ||||
Series 2019A | ||||
03/01/2035 | 5.000% | 750,000 | 842,777 | |
City of Charleston Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,147,325 | |
City of Columbia Stormwater System | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2018 | ||||
02/01/2038 | 5.000% | 350,000 | 386,755 | |
City of Columbia Waterworks & Sewer System | ||||
Revenue Bonds | ||||
Series 2018 | ||||
02/01/2035 | 4.000% | 560,000 | 580,881 | |
City of Spartanburg Water System | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
06/01/2035 | 4.000% | 1,375,000 | 1,413,932 | |
City of Sumter Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
12/01/2027 | 4.000% | 400,000 | 419,101 | |
County of Richland Utility System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
03/01/2031 | 5.000% | 240,000 | 274,741 | |
03/01/2032 | 5.000% | 215,000 | 245,606 | |
03/01/2033 | 5.000% | 280,000 | 319,208 | |
Georgetown County Water & Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 450,000 | 466,449 | |
Grand Strand Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
06/01/2031 | 5.000% | 500,000 | 585,954 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 11 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Spartanburg Sanitation Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
03/01/2034 | 5.000% | 1,000,000 | 1,060,397 | |
Town of Lexington Waterworks & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
06/01/2034 | 4.000% | 750,000 | 777,902 | |
Total | 9,569,503 | |||
Total Municipal Bonds (Cost $100,018,966) | 97,666,529 |
Money Market Funds 1.4% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.318%(e) | 113,783 | 113,771 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.283%(e) | 1,242,860 | 1,242,860 |
Total Money Market Funds (Cost $1,356,643) | 1,356,631 | |
Total Investments in Securities (Cost: $101,375,609) | 99,023,160 | |
Other Assets & Liabilities, Net | (215,866) | |
Net Assets | 98,807,294 |
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2022, the total value of these securities amounted to $1,602,957, which represents 1.62% of total net assets. |
(b) | Represents a security purchased on a when-issued basis. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Zero coupon bond. |
(e) | The rate shown is the seven-day current annualized yield at April 30, 2022. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
The Committee meets at least monthly to review and approve valuation matters, which may include a description of specific valuation determinations, data regarding pricing information received from approved pricing vendors and brokers and the results of Board-approved valuation control policies and procedures (the Policies). The Policies address, among other things, instances when market quotations are or are not readily available, including recommendations of third party pricing vendors and a determination of appropriate pricing methodologies; events that require specific valuation determinations and assessment of fair value techniques; securities with a potential for stale pricing, including those that are illiquid, restricted, or in default; and the effectiveness of third party pricing vendors, including periodic reviews of vendors. The Committee meets more frequently, as needed, to discuss additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 97,666,529 | — | 97,666,529 |
Money Market Funds | 1,356,631 | — | — | 1,356,631 |
Total Investments in Securities | 1,356,631 | 97,666,529 | — | 99,023,160 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 13 |
April 30, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $101,375,609) | $99,023,160 |
Receivable for: | |
Capital shares sold | 128,607 |
Interest | 1,283,498 |
Expense reimbursement due from Investment Manager | 322 |
Prepaid expenses | 5,772 |
Total assets | 100,441,359 |
Liabilities | |
Due to custodian | 2,159 |
Payable for: | |
Investments purchased on a delayed delivery basis | 1,051,540 |
Capital shares purchased | 253,661 |
Distributions to shareholders | 171,472 |
Management services fees | 1,278 |
Distribution and/or service fees | 228 |
Transfer agent fees | 10,413 |
Compensation of board members | 126,209 |
Other expenses | 17,105 |
Total liabilities | 1,634,065 |
Net assets applicable to outstanding capital stock | $98,807,294 |
Represented by | |
Paid in capital | 102,284,081 |
Total distributable earnings (loss) | (3,476,787) |
Total - representing net assets applicable to outstanding capital stock | $98,807,294 |
Class A | |
Net assets | $23,491,127 |
Shares outstanding | 2,455,831 |
Net asset value per share | $9.57 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $9.87 |
Advisor Class | |
Net assets | $1,246,309 |
Shares outstanding | 130,296 |
Net asset value per share | $9.57 |
Class C | |
Net assets | $2,455,605 |
Shares outstanding | 256,484 |
Net asset value per share | $9.57 |
Institutional Class | |
Net assets | $63,686,137 |
Shares outstanding | 6,654,783 |
Net asset value per share | $9.57 |
Institutional 3 Class | |
Net assets | $7,928,116 |
Shares outstanding | 825,598 |
Net asset value per share | $9.60 |
14 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended April 30, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $588 |
Interest | 2,907,222 |
Total income | 2,907,810 |
Expenses: | |
Management services fees | 546,952 |
Distribution and/or service fees | |
Class A | 75,591 |
Class C | 27,480 |
Transfer agent fees | |
Class A | 34,070 |
Advisor Class | 2,633 |
Class C | 3,097 |
Institutional Class | 82,154 |
Institutional 3 Class | 559 |
Compensation of board members | 25,312 |
Custodian fees | 1,257 |
Printing and postage fees | 12,298 |
Registration fees | 9,248 |
Audit fees | 29,500 |
Legal fees | 12,007 |
Interest on interfund lending | 5 |
Compensation of chief compliance officer | 18 |
Other | 11,014 |
Total expenses | 873,195 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (135,568) |
Expense reduction | (20) |
Total net expenses | 737,607 |
Net investment income | 2,170,203 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (534,992) |
Net realized loss | (534,992) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (8,912,527) |
Net change in unrealized appreciation (depreciation) | (8,912,527) |
Net realized and unrealized loss | (9,447,519) |
Net decrease in net assets resulting from operations | $(7,277,316) |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 15 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | |
Operations | ||
Net investment income | $2,170,203 | $2,349,332 |
Net realized loss | (534,992) | (26,193) |
Net change in unrealized appreciation (depreciation) | (8,912,527) | 3,475,775 |
Net increase (decrease) in net assets resulting from operations | (7,277,316) | 5,798,914 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (520,262) | (498,426) |
Advisor Class | (45,827) | (61,141) |
Class C | (26,727) | (43,686) |
Institutional Class | (1,439,379) | (1,591,033) |
Institutional 3 Class | (168,740) | (155,047) |
Total distributions to shareholders | (2,200,935) | (2,349,333) |
Increase (decrease) in net assets from capital stock activity | (10,767,276) | 8,175,212 |
Total increase (decrease) in net assets | (20,245,527) | 11,624,793 |
Net assets at beginning of year | 119,052,821 | 107,428,028 |
Net assets at end of year | $98,807,294 | $119,052,821 |
Year Ended | Year Ended | |||
April 30, 2022 | April 30, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 258,794 | 2,666,032 | 690,013 | 7,188,324 |
Distributions reinvested | 41,737 | 426,534 | 37,936 | 395,018 |
Redemptions | (788,960) | (7,813,969) | (204,025) | (2,124,918) |
Net increase (decrease) | (488,429) | (4,721,403) | 523,924 | 5,458,424 |
Advisor Class | ||||
Subscriptions | 57,754 | 591,974 | 78,894 | 813,886 |
Distributions reinvested | 4,458 | 45,633 | 5,852 | 60,935 |
Redemptions | (223,370) | (2,250,609) | (23,509) | (244,594) |
Net increase (decrease) | (161,158) | (1,613,002) | 61,237 | 630,227 |
Class C | ||||
Subscriptions | 36,902 | 384,262 | 52,882 | 552,095 |
Distributions reinvested | 2,474 | 25,287 | 3,722 | 38,786 |
Redemptions | (64,961) | (670,935) | (273,576) | (2,857,515) |
Net decrease | (25,585) | (261,386) | (216,972) | (2,266,634) |
Institutional Class | ||||
Subscriptions | 789,145 | 8,118,864 | 1,454,148 | 15,144,030 |
Distributions reinvested | 39,612 | 404,088 | 35,131 | 366,026 |
Redemptions | (1,356,340) | (13,702,244) | (1,214,766) | (12,662,886) |
Net increase (decrease) | (527,583) | (5,179,292) | 274,513 | 2,847,170 |
Institutional 3 Class | ||||
Subscriptions | 260,869 | 2,669,058 | 278,574 | 2,920,458 |
Distributions reinvested | 6,527 | 66,969 | 5,566 | 58,179 |
Redemptions | (168,873) | (1,728,220) | (140,724) | (1,472,612) |
Net increase | 98,523 | 1,007,807 | 143,416 | 1,506,025 |
Total net increase (decrease) | (1,104,232) | (10,767,276) | 786,118 | 8,175,212 |
16 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 4/30/2022 | $10.41 | 0.17 | (0.83) | (0.66) | (0.18) | (0.18) |
Year Ended 4/30/2021 | $10.09 | 0.19 | 0.32 | 0.51 | (0.19) | (0.19) |
Year Ended 4/30/2020 | $10.17 | 0.22 | (0.07) | 0.15 | (0.23) | (0.23) |
Year Ended 4/30/2019 | $9.94 | 0.24 | 0.24 | 0.48 | (0.25) | (0.25) |
Year Ended 4/30/2018 | $10.16 | 0.25 | (0.20) | 0.05 | (0.27) | (0.27) |
Advisor Class | ||||||
Year Ended 4/30/2022 | $10.41 | 0.20 | (0.84) | (0.64) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.09 | 0.21 | 0.32 | 0.53 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.16 | 0.25 | (0.06) | 0.19 | (0.26) | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.24 | 0.50 | (0.28) | (0.28) |
Year Ended 4/30/2018 | $10.15 | 0.27 | (0.19) | 0.08 | (0.29) | (0.29) |
Class C | ||||||
Year Ended 4/30/2022 | $10.42 | 0.10 | (0.85) | (0.75) | (0.10) | (0.10) |
Year Ended 4/30/2021 | $10.10 | 0.11 | 0.32 | 0.43 | (0.11) | (0.11) |
Year Ended 4/30/2020 | $10.17 | 0.15 | (0.07) | 0.08 | (0.15) | (0.15) |
Year Ended 4/30/2019 | $9.94 | 0.16 | 0.25 | 0.41 | (0.18) | (0.18) |
Year Ended 4/30/2018 | $10.16 | 0.17 | (0.20) | (0.03) | (0.19) | (0.19) |
Institutional Class | ||||||
Year Ended 4/30/2022 | $10.42 | 0.20 | (0.85) | (0.65) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.09 | 0.21 | 0.33 | 0.54 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.17 | 0.25 | (0.07) | 0.18 | (0.26) | (0.26) |
Year Ended 4/30/2019 | $9.94 | 0.26 | 0.25 | 0.51 | (0.28) | (0.28) |
Year Ended 4/30/2018 | $10.16 | 0.27 | (0.20) | 0.07 | (0.29) | (0.29) |
Institutional 3 Class | ||||||
Year Ended 4/30/2022 | $10.45 | 0.21 | (0.85) | (0.64) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.13 | 0.23 | 0.32 | 0.55 | (0.23) | (0.23) |
Year Ended 4/30/2020 | $10.21 | 0.26 | (0.07) | 0.19 | (0.27) | (0.27) |
Year Ended 4/30/2019 | $9.98 | 0.27 | 0.25 | 0.52 | (0.29) | (0.29) |
Year Ended 4/30/2018 | $10.19 | 0.28 | (0.19) | 0.09 | (0.30) | (0.30) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
18 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 4/30/2022 | $9.57 | (6.47%) | 0.92%(c) | 0.80%(c),(d) | 1.70% | 13% | $23,491 |
Year Ended 4/30/2021 | $10.41 | 5.05% | 0.95% | 0.81%(d) | 1.80% | 10% | $30,657 |
Year Ended 4/30/2020 | $10.09 | 1.46% | 0.91% | 0.81%(d) | 2.15% | 9% | $24,421 |
Year Ended 4/30/2019 | $10.17 | 4.93% | 0.93% | 0.81%(d) | 2.37% | 9% | $21,999 |
Year Ended 4/30/2018 | $9.94 | 0.43% | 0.93% | 0.81%(d) | 2.41% | 7% | $23,050 |
Advisor Class | |||||||
Year Ended 4/30/2022 | $9.57 | (6.24%) | 0.67%(c) | 0.55%(c),(d) | 1.93% | 13% | $1,246 |
Year Ended 4/30/2021 | $10.41 | 5.31% | 0.70% | 0.56%(d) | 2.05% | 10% | $3,034 |
Year Ended 4/30/2020 | $10.09 | 1.82% | 0.65% | 0.56%(d) | 2.40% | 9% | $2,322 |
Year Ended 4/30/2019 | $10.16 | 5.09% | 0.68% | 0.56%(d) | 2.62% | 9% | $1,854 |
Year Ended 4/30/2018 | $9.94 | 0.78% | 0.68% | 0.56%(d) | 2.66% | 7% | $1,984 |
Class C | |||||||
Year Ended 4/30/2022 | $9.57 | (7.26%) | 1.67%(c) | 1.55%(c),(d) | 0.95% | 13% | $2,456 |
Year Ended 4/30/2021 | $10.42 | 4.26% | 1.70% | 1.56%(d) | 1.07% | 10% | $2,940 |
Year Ended 4/30/2020 | $10.10 | 0.80% | 1.66% | 1.56%(d) | 1.41% | 9% | $5,039 |
Year Ended 4/30/2019 | $10.17 | 4.14% | 1.68% | 1.56%(d) | 1.62% | 9% | $8,669 |
Year Ended 4/30/2018 | $9.94 | (0.32%) | 1.68% | 1.56%(d) | 1.66% | 7% | $10,759 |
Institutional Class | |||||||
Year Ended 4/30/2022 | $9.57 | (6.32%) | 0.67%(c) | 0.55%(c),(d) | 1.95% | 13% | $63,686 |
Year Ended 4/30/2021 | $10.42 | 5.41% | 0.70% | 0.56%(d) | 2.05% | 10% | $74,822 |
Year Ended 4/30/2020 | $10.09 | 1.72% | 0.66% | 0.56%(d) | 2.40% | 9% | $69,733 |
Year Ended 4/30/2019 | $10.17 | 5.19% | 0.68% | 0.56%(d) | 2.62% | 9% | $70,343 |
Year Ended 4/30/2018 | $9.94 | 0.68% | 0.68% | 0.56%(d) | 2.66% | 7% | $77,773 |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $9.60 | (6.20%) | 0.56%(c) | 0.45%(c) | 2.05% | 13% | $7,928 |
Year Ended 4/30/2021 | $10.45 | 5.42% | 0.59% | 0.45% | 2.16% | 10% | $7,600 |
Year Ended 4/30/2020 | $10.13 | 1.83% | 0.53% | 0.45% | 2.50% | 9% | $5,913 |
Year Ended 4/30/2019 | $10.21 | 5.30% | 0.57% | 0.45% | 2.73% | 9% | $852 |
Year Ended 4/30/2018 | $9.98 | 0.91% | 0.56% | 0.45% | 2.79% | 7% | $747 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 19 |
April 30, 2022
20 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 21 |
April 30, 2022
22 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Effective rate (%) | |
Class A | 0.11 |
Advisor Class | 0.11 |
Class C | 0.11 |
Institutional Class | 0.11 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 9,159 |
Class C | — | 1.00(b) | 299 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 23 |
April 30, 2022
Fee rate(s) contractual through August 31, 2022 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.45 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(33) | 33 | — |
24 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Year Ended April 30, 2022 | Year Ended April 30, 2021 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
106 | 2,200,829 | — | 2,200,935 | 24 | 2,349,309 | — | 2,349,333 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
— | 236,494 | — | (1,064,208) | (2,352,449) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
101,375,609 | 727,433 | (3,079,882) | (2,352,449) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(536,199) | (528,009) | (1,064,208) | — |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 25 |
April 30, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 200,000 | 0.67 | 4 |
26 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 27 |
April 30, 2022
28 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 29 |
Exempt- interest dividends | |
100.00% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
30 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 31 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
32 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 174 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 176 | Director, Blue Cross Blue Shield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation since 1998 |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 33 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
34 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 35 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
36 | Columbia South Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2022
3 | |
5 | |
7 | |
8 | |
15 | |
16 | |
17 | |
20 | |
22 | |
31 | |
32 | |
32 | |
38 |
(Unaudited)
Average annual total returns (%) (for the period ended April 30, 2022) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 12/14/92 | -7.20 | 0.78 | 1.22 |
Including sales charges | -9.99 | 0.17 | 0.91 | ||
Advisor Class* | 03/19/13 | -7.07 | 1.01 | 1.46 | |
Class C | Excluding sales charges | 12/16/92 | -7.90 | 0.03 | 0.48 |
Including sales charges | -8.81 | 0.03 | 0.48 | ||
Institutional Class | 12/11/92 | -6.98 | 1.03 | 1.47 | |
Institutional 3 Class* | 03/01/17 | -6.88 | 1.12 | 1.52 | |
Bloomberg 3-15 Year Blend Municipal Bond Index | -7.28 | 1.62 | 2.21 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products /mutual-funds/appended-performance for more information. |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 3 |
(Unaudited)
Quality breakdown (%) (at April 30, 2022) | |
AAA rating | 15.8 |
AA rating | 46.9 |
A rating | 23.9 |
BBB rating | 10.3 |
Not rated | 3.1 |
Total | 100.0 |
4 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
• | As interest rates rose during the period, the Fund’s duration, which was shorter than that of the benchmark, contributed to Fund performance. |
• | The Fund benefited from its exposure to non-investment-grade (high-yield) securities during the period, as well as from security selection in lower rated investment-grade securities. |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 5 |
(Unaudited)
• | The Fund’s overweighted allocation to the education sector contributed to Fund performance, as this area outperformed the benchmark. |
• | Security selection within the hospital, continuing care retirement community (CCRC) (namely, Twin Lakes CCRC, Pines at Davidson CCRC and Sharon Towers CCRC), electric, housing and transportation sectors also contributed to Fund performance during the period. |
• | The Fund’s underweight to state GO bonds, which outperformed the national market, detracted from Fund performance relative to the benchmark during the period. |
• | An overweighted allocation to the electric sector also weighed on relative performance. |
6 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
November 1, 2021 — April 30, 2022 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 930.80 | 1,020.94 | 3.85 | 4.03 | 0.80 |
Advisor Class | 1,000.00 | 1,000.00 | 931.80 | 1,022.19 | 2.65 | 2.77 | 0.55 |
Class C | 1,000.00 | 1,000.00 | 927.30 | 1,017.20 | 7.45 | 7.80 | 1.55 |
Institutional Class | 1,000.00 | 1,000.00 | 931.90 | 1,022.19 | 2.65 | 2.77 | 0.55 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 932.40 | 1,022.54 | 2.31 | 2.42 | 0.48 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 7 |
April 30, 2022
Municipal Bonds 98.3% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 3.3% | ||||
City of Charlotte Airport(a) | ||||
Revenue Bonds | ||||
Charlotte Douglas International | ||||
Series 2019 | ||||
07/01/2035 | 5.000% | 1,195,000 | 1,296,649 | |
City of Charlotte Airport | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2028 | 5.000% | 500,000 | 549,328 | |
Raleigh Durham Airport Authority(a) | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
05/01/2034 | 5.000% | 1,150,000 | 1,255,388 | |
05/01/2036 | 5.000% | 2,000,000 | 2,178,202 | |
Total | 5,279,567 | |||
Forest Products 0.6% | ||||
Columbus County Industrial Facilities & Pollution Control Financing Authority | ||||
Refunding Revenue Bonds | ||||
International Paper Co. Project | ||||
Series 2020 (Mandatory Put 06/16/25) | ||||
05/01/2034 | 1.375% | 1,000,000 | 948,588 | |
Higher Education 7.4% | ||||
Appalachian State University | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
10/01/2026 | 5.000% | 325,000 | 352,719 | |
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2035 | 5.000% | 1,095,000 | 1,217,725 | |
North Carolina Agricultural & Technical State University | ||||
Refunding Revenue Bonds | ||||
General Purpose | ||||
Series 2015A | ||||
10/01/2032 | 5.000% | 2,000,000 | 2,152,524 | |
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
Campbell University | ||||
Series 2021A | ||||
10/01/2030 | 5.000% | 1,115,000 | 1,219,207 | |
Revenue Bonds | ||||
Wake Forest University | ||||
Series 2018 | ||||
01/01/2034 | 5.000% | 400,000 | 446,649 | |
North Carolina Central University | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
10/01/2029 | 4.000% | 625,000 | 641,545 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2019 | ||||
04/01/2036 | 5.000% | 500,000 | 545,966 | |
04/01/2038 | 5.000% | 500,000 | 544,213 | |
North Carolina State University at Raleigh | ||||
Refunding Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2027 | 5.000% | 300,000 | 336,284 | |
10/01/2028 | 5.000% | 250,000 | 284,128 | |
University of North Carolina at Charlotte (The) | ||||
Refunding Revenue Bonds | ||||
Governors | ||||
Series 2020A | ||||
10/01/2035 | 4.000% | 200,000 | 206,565 | |
10/01/2037 | 4.000% | 300,000 | 309,298 | |
Revenue Bonds | ||||
Board of Governors | ||||
Series 2017 | ||||
10/01/2029 | 5.000% | 500,000 | 554,792 | |
University of North Carolina at Greensboro | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
04/01/2029 | 5.000% | 390,000 | 423,868 | |
04/01/2030 | 5.000% | 250,000 | 271,419 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
10/01/2034 | 5.000% | 355,000 | 398,717 | |
Western Carolina University | ||||
Revenue Bonds | ||||
General | ||||
Series 2018 | ||||
10/01/2033 | 5.000% | 250,000 | 273,285 | |
10/01/2034 | 5.000% | 575,000 | 627,890 | |
Series 2020B | ||||
04/01/2033 | 5.000% | 1,000,000 | 1,120,214 | |
Total | 11,927,008 | |||
Hospital 4.4% | ||||
Charlotte-Mecklenburg Hospital Authority (The) | ||||
Revenue Bonds | ||||
Atrium Health | ||||
Series 2021 (Mandatory Put 12/01/28) | ||||
01/15/2050 | 5.000% | 1,500,000 | 1,669,556 | |
Series 2021 (Mandatory Put 12/01/31) | ||||
01/15/2049 | 5.000% | 1,500,000 | 1,697,060 |
8 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Novant Health Obligation Group | ||||
Series 2013 | ||||
11/01/2024 | 5.000% | 530,000 | 538,676 | |
Revenue Bonds | ||||
CaroMont Health | ||||
Series 2021A | ||||
02/01/2036 | 4.000% | 500,000 | 510,786 | |
Rex Healthcare | ||||
Series 2015A | ||||
07/01/2032 | 5.000% | 1,000,000 | 1,064,332 | |
Series 2020A | ||||
07/01/2035 | 5.000% | 800,000 | 898,901 | |
Wake Forest Baptist Obligation Group | ||||
Series 2019 | ||||
12/01/2033 | 5.000% | 595,000 | 658,500 | |
Total | 7,037,811 | |||
Joint Power Authority 4.8% | ||||
North Carolina Municipal Power Agency No. 1 | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2026 | 5.000% | 1,500,000 | 1,617,983 | |
01/01/2031 | 5.000% | 2,000,000 | 2,147,753 | |
Series 2016A | ||||
01/01/2028 | 5.000% | 1,500,000 | 1,625,640 | |
Series 2019A | ||||
01/01/2032 | 5.000% | 2,000,000 | 2,260,962 | |
Total | 7,652,338 | |||
Local Appropriation 19.2% | ||||
City of Charlotte | ||||
Refunding Certificate of Participation | ||||
Series 2019B | ||||
06/01/2034 | 5.000% | 2,000,000 | 2,257,586 | |
City of Durham | ||||
Revenue Bonds | ||||
Series 2018 | ||||
04/01/2034 | 4.000% | 1,000,000 | 1,041,917 | |
City of Kannapolis | ||||
Revenue Bonds | ||||
Series 2014 | ||||
04/01/2031 | 5.000% | 1,365,000 | 1,423,806 | |
City of Monroe | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
03/01/2035 | 5.000% | 1,000,000 | 1,076,151 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2014A | ||||
06/01/2028 | 5.000% | 500,000 | 524,813 | |
County of Brunswick | ||||
Revenue Bonds | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 250,000 | 268,619 | |
06/01/2029 | 5.000% | 250,000 | 268,676 | |
County of Buncombe | ||||
Revenue Bonds | ||||
Series 2014A | ||||
06/01/2032 | 5.000% | 1,635,000 | 1,710,382 | |
County of Catawba | ||||
Revenue Bonds | ||||
Series 2018 | ||||
12/01/2036 | 4.000% | 1,940,000 | 2,000,758 | |
County of Dare | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2031 | 4.000% | 225,000 | 234,114 | |
County of Davidson | ||||
Revenue Bonds | ||||
Series 2020 | ||||
06/01/2037 | 4.000% | 400,000 | 414,791 | |
County of Gaston | ||||
Revenue Bonds | ||||
Series 2019A | ||||
04/01/2034 | 5.000% | 250,000 | 281,570 | |
04/01/2035 | 5.000% | 300,000 | 337,491 | |
County of Harnett | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
12/01/2027 | 5.000% | 375,000 | 421,581 | |
Revenue Bonds | ||||
Series 2019 | ||||
10/01/2037 | 4.000% | 955,000 | 978,329 | |
County of Henderson | ||||
Revenue Bonds | ||||
Series 2015 | ||||
10/01/2030 | 5.000% | 500,000 | 540,846 | |
Series 2020 | ||||
06/01/2029 | 5.000% | 525,000 | 601,074 | |
County of Lee | ||||
Revenue Bonds | ||||
Series 2018 | ||||
05/01/2036 | 4.000% | 500,000 | 514,717 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 9 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Martin | ||||
Refunding Revenue Bonds | ||||
Water & Sewer District | ||||
Series 2014 | ||||
06/01/2030 | 4.000% | 730,000 | 748,446 | |
County of Onslow | ||||
Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 4.000% | 405,000 | 422,239 | |
Series 2016 | ||||
10/01/2028 | 5.000% | 1,000,000 | 1,097,254 | |
County of Pender | ||||
Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,165,000 | 1,248,257 | |
04/01/2028 | 5.000% | 1,290,000 | 1,383,344 | |
County of Randolph | ||||
Refunding Revenue Bonds | ||||
Series 2013C | ||||
10/01/2026 | 5.000% | 1,500,000 | 1,654,760 | |
Revenue Bonds | ||||
Series 2019B | ||||
10/01/2034 | 5.000% | 500,000 | 566,878 | |
County of Sampson | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
09/01/2035 | 4.000% | 1,000,000 | 1,022,032 | |
County of Surry | ||||
Revenue Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 275,000 | 311,390 | |
06/01/2033 | 5.000% | 350,000 | 395,582 | |
Series 2021 | ||||
10/01/2030 | 5.000% | 505,000 | 586,643 | |
County of Union | ||||
Refunding Revenue Bonds | ||||
Series 2012 | ||||
12/01/2024 | 5.000% | 1,715,000 | 1,827,174 | |
County of Wake | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
08/01/2036 | 4.000% | 2,000,000 | 2,071,838 | |
County of Wilkes | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2027 | 5.000% | 500,000 | 536,762 | |
06/01/2029 | 5.000% | 500,000 | 535,227 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Durham Capital Financing Corp. | ||||
Revenue Bonds | ||||
Series 2018 | ||||
10/01/2035 | 4.000% | 1,500,000 | 1,560,802 | |
Total | 30,865,849 | |||
Local General Obligation 7.8% | ||||
City of Charlotte | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
06/01/2027 | 5.000% | 725,000 | 812,657 | |
City of Greensboro | ||||
Unlimited General Obligation Bonds | ||||
Series 2020B | ||||
Series 2020B | ||||
04/01/2031 | 5.000% | 2,205,000 | 2,563,729 | |
County of Durham | ||||
Unlimited General Obligation Bonds | ||||
Series 2019 | ||||
06/01/2032 | 5.000% | 620,000 | 709,717 | |
County of Forsyth | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2019B | ||||
03/01/2026 | 5.000% | 1,000,000 | 1,095,131 | |
County of Gaston | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
02/01/2029 | 5.000% | 1,500,000 | 1,709,756 | |
County of Guilford | ||||
Unlimited General Obligation Bonds | ||||
Public Improvement | ||||
Series 2017B | ||||
05/01/2026 | 5.000% | 1,000,000 | 1,098,830 | |
County of Mecklenburg | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2016B | ||||
12/01/2027 | 5.000% | 1,180,000 | 1,309,352 | |
County of Moore | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016 | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,132,215 | |
County of Pitt | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
04/01/2024 | 5.000% | 410,000 | 430,563 | |
County of Wake | ||||
Unlimited General Obligation Public Improvement Bonds | ||||
Series 2019A | ||||
03/01/2033 | 5.000% | 1,500,000 | 1,707,683 | |
Total | 12,569,633 |
10 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Multi-Family 4.5% | ||||
North Carolina Capital Facilities Finance Agency | ||||
Refunding Revenue Bonds | ||||
North Carolina A&T University Foundation Project | ||||
Series 2015A | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,061,616 | |
The Arc of North Carolina | ||||
Series 2017 | ||||
10/01/2034 | 5.000% | 1,500,000 | 1,603,891 | |
University of North Carolina at Wilmington | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
06/01/2029 | 5.000% | 2,000,000 | 2,126,776 | |
Western Carolina University | ||||
Limited General Obligation Refunding Revenue Bonds | ||||
Student Housing | ||||
Series 2016 (AGM) | ||||
06/01/2027 | 5.000% | 500,000 | 544,061 | |
06/01/2028 | 5.000% | 1,000,000 | 1,084,949 | |
06/01/2029 | 5.000% | 800,000 | 866,269 | |
Total | 7,287,562 | |||
Municipal Power 1.5% | ||||
City of Fayetteville Public Works Commission | ||||
Revenue Bonds | ||||
Series 2014 | ||||
03/01/2027 | 4.000% | 1,250,000 | 1,282,436 | |
Greenville Utilities Commission | ||||
Revenue Bonds | ||||
Series 2019 | ||||
08/01/2032 | 5.000% | 625,000 | 711,399 | |
08/01/2033 | 5.000% | 400,000 | 453,925 | |
Total | 2,447,760 | |||
Refunded / Escrowed 11.1% | ||||
City of Winston-Salem | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2014C | ||||
06/01/2029 | 5.000% | 750,000 | 789,558 | |
County of Johnston | ||||
Prerefunded 06/01/24 Revenue Bonds | ||||
Series 2014 | ||||
06/01/2028 | 5.000% | 1,000,000 | 1,053,787 | |
County of New Hanover | ||||
Prerefunded 10/01/27 Revenue Bonds | ||||
New Hanover Regional Medical Center | ||||
Series 2017 | ||||
10/01/2030 | 5.000% | 1,200,000 | 1,338,714 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Wake | ||||
Prerefunded 10/01/26 Revenue Bonds | ||||
Series 1993 (NPFGC) | ||||
10/01/2026 | 5.125% | 1,265,000 | 1,340,132 | |
East Carolina University | ||||
Prerefunded 10/01/23 Revenue Bonds | ||||
General | ||||
Series 2014A | ||||
10/01/2031 | 5.000% | 1,900,000 | 1,973,867 | |
North Carolina Medical Care Commission | ||||
Prerefunded 06/01/22 Revenue Bonds | ||||
Southeastern Regional Medical Center | ||||
Series 2012 | ||||
06/01/2026 | 5.000% | 1,000,000 | 1,002,830 | |
Prerefunded 06/01/25 Revenue Bonds | ||||
Vidant Health | ||||
Series 2015 | ||||
06/01/2030 | 5.000% | 1,000,000 | 1,073,523 | |
Prerefunded 09/01/22 Revenue Bonds | ||||
1st Mortgage - United Church | ||||
Series 2015A | ||||
09/01/2030 | 4.500% | 1,000,000 | 1,009,626 | |
Prerefunded 10/01/22 Revenue Bonds | ||||
WakeMed | ||||
Series 2012A | ||||
10/01/2031 | 5.000% | 2,000,000 | 2,028,873 | |
Prerefunded 10/01/23 Revenue Bonds | ||||
1st Mortgage - United Methodist | ||||
Series 2013A | ||||
10/01/2033 | 5.000% | 1,595,000 | 1,651,361 | |
Orange County Public Facilities Co. | ||||
Prerefunded 10/01/22 Revenue Bonds | ||||
Series 2012 | ||||
10/01/2024 | 5.000% | 835,000 | 847,055 | |
10/01/2024 | 5.000% | 490,000 | 496,870 | |
University of North Carolina at Charlotte (The) | ||||
Prerefunded 04/01/24 Revenue Bonds | ||||
Series 2014 | ||||
04/01/2030 | 5.000% | 1,000,000 | 1,050,153 | |
University of North Carolina at Greensboro | ||||
Prerefunded 04/01/24 Revenue Bonds | ||||
General | ||||
Series 2014 | ||||
04/01/2032 | 5.000% | 2,000,000 | 2,097,812 | |
Total | 17,754,161 | |||
Retirement Communities 5.8% | ||||
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Pennybyrn at Maryfield | ||||
Series 2015 | ||||
10/01/2025 | 5.000% | 610,000 | 624,742 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 11 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Retirement Facilities 1st Mortgage | ||||
Series 2019 | ||||
01/01/2039 | 5.000% | 1,000,000 | 987,691 | |
Series 2021C | ||||
03/01/2028 | 5.000% | 360,000 | 365,427 | |
Sharon Towers | ||||
Series 2019A | ||||
07/01/2033 | 5.000% | 1,000,000 | 1,036,456 | |
Southminster, Inc. | ||||
Series 2016 | ||||
10/01/2025 | 5.000% | 1,260,000 | 1,306,679 | |
United Methodist Retirement | ||||
Series 2016 | ||||
10/01/2030 | 5.000% | 700,000 | 747,570 | |
Revenue Bonds | ||||
Pennybyrn at Maryfield Project | ||||
Series 2020B-2 | ||||
10/01/2024 | 2.500% | 745,000 | 728,748 | |
Presbyterian Homes Obligated Group (The) | ||||
Series 2020 | ||||
10/01/2035 | 4.000% | 650,000 | 627,688 | |
The Pines at Davidson Project | ||||
Series 2019 | ||||
01/01/2038 | 5.000% | 1,000,000 | 1,057,505 | |
Twin Lakes Community | ||||
Series 2019A | ||||
01/01/2038 | 5.000% | 1,750,000 | 1,846,119 | |
Total | 9,328,625 | |||
Sales Tax 0.7% | ||||
City of Rocky Mount | ||||
Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.000% | 1,000,000 | 1,089,425 | |
Single Family 4.1% | ||||
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Ownership | ||||
Series 2021-47 (GNMA) | ||||
01/01/2029 | 1.250% | 1,990,000 | 1,763,065 | |
07/01/2029 | 1.350% | 1,885,000 | 1,664,638 | |
Series 2017-38B (GNMA) | ||||
07/01/2037 | 3.850% | 1,225,000 | 1,242,829 | |
Series 2019-41 (GNMA) | ||||
07/01/2034 | 3.100% | 550,000 | 519,437 | |
Series 2019-42 | ||||
07/01/2039 | 2.625% | 840,000 | 709,713 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 44 | ||||
01/01/2027 | 1.950% | 795,000 | 744,371 | |
Total | 6,644,053 | |||
State Appropriated 1.3% | ||||
State of North Carolina | ||||
Refunding Revenue Bonds | ||||
Series 2014B | ||||
06/01/2025 | 5.000% | 2,000,000 | 2,150,124 | |
State General Obligation 0.7% | ||||
State of North Carolina | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2016A | ||||
06/01/2026 | 5.000% | 1,000,000 | 1,100,589 | |
Transportation 2.2% | ||||
State of North Carolina | ||||
Revenue Bonds | ||||
Grant Anticipation | ||||
Series 2021 | ||||
03/01/2030 | 5.000% | 1,000,000 | 1,142,603 | |
Series 2019 | ||||
03/01/2033 | 5.000% | 1,250,000 | 1,390,165 | |
Vehicle - GARVEE | ||||
Series 2015 | ||||
03/01/2027 | 5.000% | 900,000 | 960,863 | |
Total | 3,493,631 | |||
Turnpike / Bridge / Toll Road 5.0% | ||||
North Carolina Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 | ||||
01/01/2030 | 5.000% | 1,700,000 | 1,824,841 | |
01/01/2032 | 5.000% | 1,450,000 | 1,549,500 | |
Series 2017 (AGM) | ||||
01/01/2031 | 5.000% | 750,000 | 817,522 | |
Revenue Bonds | ||||
BAN Series 2020 | ||||
02/01/2024 | 5.000% | 2,000,000 | 2,076,068 | |
North Carolina Turnpike Authority(b) | ||||
Refunding Revenue Bonds | ||||
Series 2016C | ||||
07/01/2029 | 0.000% | 750,000 | 557,539 | |
Revenue Bonds | ||||
Series 2017C | ||||
07/01/2030 | 0.000% | 550,000 | 388,883 | |
07/01/2031 | 0.000% | 1,100,000 | 737,857 | |
Total | 7,952,210 |
12 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Water & Sewer 13.9% | ||||
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
07/01/2024 | 5.000% | 1,010,000 | 1,067,181 | |
Series 2018 | ||||
07/01/2035 | 4.000% | 2,000,000 | 2,089,991 | |
Series 2020 | ||||
07/01/2036 | 4.000% | 2,000,000 | 2,105,925 | |
City of Gastonia Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2015 | ||||
05/01/2029 | 5.000% | 265,000 | 284,322 | |
05/01/2030 | 5.000% | 660,000 | 708,197 | |
City of Greensboro Combined Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2006 | ||||
06/01/2023 | 5.250% | 2,000,000 | 2,069,105 | |
City of Jacksonville Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
05/01/2028 | 5.250% | 250,000 | 285,852 | |
City of Raleigh Combined Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
12/01/2025 | 5.000% | 1,200,000 | 1,307,480 | |
City of Winston-Salem Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
06/01/2024 | 5.000% | 1,300,000 | 1,371,279 | |
06/01/2033 | 4.000% | 2,165,000 | 2,243,472 | |
Series 2020A | ||||
06/01/2036 | 4.000% | 2,000,000 | 2,105,233 | |
Revenue Bonds | ||||
Series 2017 | ||||
06/01/2031 | 4.000% | 400,000 | 422,794 | |
County of Brunswick Enterprise Systems | ||||
Refunding Revenue Bonds | ||||
Series 2015 | ||||
04/01/2027 | 5.000% | 1,500,000 | 1,611,137 | |
Revenue Bonds | ||||
Enterprise System | ||||
Series 2020 | ||||
04/01/2033 | 4.000% | 500,000 | 527,996 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Dare Utilities System | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
02/01/2032 | 4.000% | 300,000 | 312,393 | |
County of Lincoln Enterprise System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
08/01/2029 | 5.000% | 320,000 | 366,912 | |
County of Union Enterprise System | ||||
Revenue Bonds | ||||
Enterprise System | ||||
Series 2019 | ||||
06/01/2031 | 5.000% | 1,000,000 | 1,137,713 | |
Series 2015 | ||||
06/01/2029 | 5.000% | 500,000 | 542,803 | |
Onslow Water & Sewer Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
12/01/2031 | 4.000% | 820,000 | 856,516 | |
Town of Fuquay-Varina Combined Utilities System | ||||
Revenue Bonds | ||||
Series 2016 | ||||
04/01/2030 | 5.000% | 335,000 | 363,009 | |
04/01/2031 | 5.000% | 450,000 | 486,739 | |
Total | 22,266,049 | |||
Total Municipal Bonds (Cost $162,812,176) | 157,794,983 |
Money Market Funds 0.9% | ||
Shares | Value ($) | |
Dreyfus Tax Exempt Cash Management Fund, Institutional Shares, 0.318%(c) | 112,839 | 112,828 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.283%(c) | 1,350,541 | 1,350,541 |
Total Money Market Funds (Cost $1,463,380) | 1,463,369 | |
Total Investments in Securities (Cost: $164,275,556) | 159,258,352 | |
Other Assets & Liabilities, Net | 1,269,594 | |
Net Assets | 160,527,946 |
(a) | Income from this security may be subject to alternative minimum tax. |
(b) | Zero coupon bond. |
(c) | The rate shown is the seven-day current annualized yield at April 30, 2022. |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 13 |
April 30, 2022
AGM | Assured Guaranty Municipal Corporation |
BAN | Bond Anticipation Note |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Municipal Bonds | — | 157,794,983 | — | 157,794,983 |
Money Market Funds | 1,463,369 | — | — | 1,463,369 |
Total Investments in Securities | 1,463,369 | 157,794,983 | — | 159,258,352 |
14 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $164,275,556) | $159,258,352 |
Cash | 478 |
Receivable for: | |
Capital shares sold | 75,437 |
Interest | 1,831,751 |
Expense reimbursement due from Investment Manager | 263 |
Prepaid expenses | 6,188 |
Total assets | 161,172,469 |
Liabilities | |
Payable for: | |
Capital shares purchased | 212,496 |
Distributions to shareholders | 279,525 |
Management services fees | 2,069 |
Distribution and/or service fees | 160 |
Transfer agent fees | 3,090 |
Compensation of board members | 129,267 |
Other expenses | 17,916 |
Total liabilities | 644,523 |
Net assets applicable to outstanding capital stock | $160,527,946 |
Represented by | |
Paid in capital | 166,346,474 |
Total distributable earnings (loss) | (5,818,528) |
Total - representing net assets applicable to outstanding capital stock | $160,527,946 |
Class A | |
Net assets | $15,892,409 |
Shares outstanding | 1,635,247 |
Net asset value per share | $9.72 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.02 |
Advisor Class | |
Net assets | $2,889,382 |
Shares outstanding | 297,770 |
Net asset value per share | $9.70 |
Class C | |
Net assets | $1,892,178 |
Shares outstanding | 194,741 |
Net asset value per share | $9.72 |
Institutional Class | |
Net assets | $24,548,514 |
Shares outstanding | 2,528,348 |
Net asset value per share | $9.71 |
Institutional 3 Class | |
Net assets | $115,305,463 |
Shares outstanding | 11,839,742 |
Net asset value per share | $9.74 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 15 |
Year Ended April 30, 2022
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $489 |
Interest | 4,631,719 |
Total income | 4,632,208 |
Expenses: | |
Management services fees | 887,868 |
Distribution and/or service fees | |
Class A | 42,805 |
Class C | 23,769 |
Transfer agent fees | |
Class A | 13,838 |
Advisor Class | 2,642 |
Class C | 1,922 |
Institutional Class | 20,931 |
Institutional 3 Class | 7,545 |
Compensation of board members | 26,408 |
Custodian fees | 1,562 |
Printing and postage fees | 12,567 |
Registration fees | 16,302 |
Audit fees | 29,500 |
Legal fees | 12,734 |
Interest on interfund lending | 12 |
Compensation of chief compliance officer | 29 |
Other | 11,874 |
Total expenses | 1,112,308 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (110,976) |
Total net expenses | 1,001,332 |
Net investment income | 3,630,876 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (460,218) |
Net realized loss | (460,218) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (16,041,904) |
Net change in unrealized appreciation (depreciation) | (16,041,904) |
Net realized and unrealized loss | (16,502,122) |
Net decrease in net assets resulting from operations | $(12,871,246) |
16 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Year Ended April 30, 2022 | Year Ended April 30, 2021 | |
Operations | ||
Net investment income | $3,630,876 | $3,935,280 |
Net realized gain (loss) | (460,218) | 106,564 |
Net change in unrealized appreciation (depreciation) | (16,041,904) | 6,945,335 |
Net increase (decrease) in net assets resulting from operations | (12,871,246) | 10,987,179 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (283,914) | (302,590) |
Advisor Class | (62,331) | (94,853) |
Class C | (21,526) | (25,935) |
Institutional Class | (495,087) | (492,975) |
Institutional 3 Class | (2,777,311) | (3,018,926) |
Total distributions to shareholders | (3,640,169) | (3,935,279) |
Decrease in net assets from capital stock activity | (18,411,052) | (1,925,637) |
Total increase (decrease) in net assets | (34,922,467) | 5,126,263 |
Net assets at beginning of year | 195,450,413 | 190,324,150 |
Net assets at end of year | $160,527,946 | $195,450,413 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 17 |
Year Ended | Year Ended | |||
April 30, 2022 | April 30, 2021 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 131,657 | 1,339,765 | 204,825 | 2,178,359 |
Distributions reinvested | 22,081 | 230,301 | 23,288 | 247,759 |
Redemptions | (173,908) | (1,803,504) | (244,823) | (2,598,491) |
Net decrease | (20,170) | (233,438) | (16,710) | (172,373) |
Advisor Class | ||||
Subscriptions | 47,588 | 504,984 | 36,252 | 384,707 |
Distributions reinvested | 5,963 | 62,141 | 8,912 | 94,659 |
Redemptions | (75,134) | (789,925) | (206,290) | (2,184,762) |
Net decrease | (21,583) | (222,800) | (161,126) | (1,705,396) |
Class C | ||||
Subscriptions | 19,227 | 204,915 | 63,221 | 669,934 |
Distributions reinvested | 1,840 | 19,188 | 2,088 | 22,197 |
Redemptions | (64,901) | (666,623) | (125,733) | (1,339,410) |
Net decrease | (43,834) | (442,520) | (60,424) | (647,279) |
Institutional Class | ||||
Subscriptions | 516,703 | 5,310,747 | 478,877 | 5,072,731 |
Distributions reinvested | 40,420 | 420,845 | 38,564 | 409,788 |
Redemptions | (485,514) | (4,986,226) | (370,338) | (3,931,885) |
Net increase | 71,609 | 745,366 | 147,103 | 1,550,634 |
Institutional 3 Class | ||||
Subscriptions | 662,796 | 7,037,929 | 2,926,315 | 31,149,543 |
Distributions reinvested | 5,911 | 61,644 | 5,308 | 56,575 |
Redemptions | (2,481,764) | (25,357,233) | (3,021,505) | (32,157,341) |
Net decrease | (1,813,057) | (18,257,660) | (89,882) | (951,223) |
Total net decrease | (1,827,035) | (18,411,052) | (181,039) | (1,925,637) |
18 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 4/30/2022 | $10.65 | 0.17 | (0.93) | (0.76) | (0.17) | (0.17) |
Year Ended 4/30/2021 | $10.27 | 0.18 | 0.38 | 0.56 | (0.18) | (0.18) |
Year Ended 4/30/2020 | $10.33 | 0.21 | (0.06) | 0.15 | (0.21) | (0.21) |
Year Ended 4/30/2019 | $10.14 | 0.24 | 0.19 | 0.43 | (0.24) | (0.24) |
Year Ended 4/30/2018 | $10.33 | 0.24 | (0.19) | 0.05 | (0.24) | (0.24) |
Advisor Class | ||||||
Year Ended 4/30/2022 | $10.64 | 0.20 | (0.94) | (0.74) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.26 | 0.20 | 0.38 | 0.58 | (0.20) | (0.20) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.12 | 0.26 | 0.20 | 0.46 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.20) | 0.07 | (0.27) | (0.27) |
Class C | ||||||
Year Ended 4/30/2022 | $10.65 | 0.09 | (0.93) | (0.84) | (0.09) | (0.09) |
Year Ended 4/30/2021 | $10.27 | 0.10 | 0.38 | 0.48 | (0.10) | (0.10) |
Year Ended 4/30/2020 | $10.33 | 0.13 | (0.06) | 0.07 | (0.13) | (0.13) |
Year Ended 4/30/2019 | $10.13 | 0.16 | 0.20 | 0.36 | (0.16) | (0.16) |
Year Ended 4/30/2018 | $10.33 | 0.16 | (0.20) | (0.04) | (0.16) | (0.16) |
Institutional Class | ||||||
Year Ended 4/30/2022 | $10.64 | 0.20 | (0.93) | (0.73) | (0.20) | (0.20) |
Year Ended 4/30/2021 | $10.26 | 0.20 | 0.38 | 0.58 | (0.20) | (0.20) |
Year Ended 4/30/2020 | $10.32 | 0.24 | (0.06) | 0.18 | (0.24) | (0.24) |
Year Ended 4/30/2019 | $10.13 | 0.26 | 0.19 | 0.45 | (0.26) | (0.26) |
Year Ended 4/30/2018 | $10.32 | 0.27 | (0.19) | 0.08 | (0.27) | (0.27) |
Institutional 3 Class | ||||||
Year Ended 4/30/2022 | $10.67 | 0.21 | (0.93) | (0.72) | (0.21) | (0.21) |
Year Ended 4/30/2021 | $10.29 | 0.21 | 0.38 | 0.59 | (0.21) | (0.21) |
Year Ended 4/30/2020 | $10.36 | 0.25 | (0.07) | 0.18 | (0.25) | (0.25) |
Year Ended 4/30/2019 | $10.16 | 0.27 | 0.20 | 0.47 | (0.27) | (0.27) |
Year Ended 4/30/2018 | $10.35 | 0.28 | (0.19) | 0.09 | (0.28) | (0.28) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | Ratios include line of credit interest expense which is less than 0.01%. |
20 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 4/30/2022 | $9.72 | (7.20%) | 0.86%(c) | 0.80%(c) | 1.65% | 6% | $15,892 |
Year Ended 4/30/2021 | $10.65 | 5.45% | 0.88% | 0.81% | 1.68% | 15% | $17,634 |
Year Ended 4/30/2020 | $10.27 | 1.43% | 0.85% | 0.81% | 2.01% | 7% | $17,176 |
Year Ended 4/30/2019 | $10.33 | 4.26% | 0.87%(d) | 0.81%(d) | 2.32% | 23% | $16,469 |
Year Ended 4/30/2018 | $10.14 | 0.48% | 0.88% | 0.81% | 2.33% | 10% | $18,035 |
Advisor Class | |||||||
Year Ended 4/30/2022 | $9.70 | (7.07%) | 0.61%(c) | 0.55%(c) | 1.90% | 6% | $2,889 |
Year Ended 4/30/2021 | $10.64 | 5.72% | 0.63% | 0.56% | 1.93% | 15% | $3,396 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $4,928 |
Year Ended 4/30/2019 | $10.32 | 4.62% | 0.62%(d) | 0.56%(d) | 2.57% | 23% | $5,505 |
Year Ended 4/30/2018 | $10.12 | 0.63% | 0.63% | 0.56% | 2.57% | 10% | $4,589 |
Class C | |||||||
Year Ended 4/30/2022 | $9.72 | (7.90%) | 1.61%(c) | 1.55%(c) | 0.90% | 6% | $1,892 |
Year Ended 4/30/2021 | $10.65 | 4.67% | 1.62% | 1.55% | 0.93% | 15% | $2,541 |
Year Ended 4/30/2020 | $10.27 | 0.68% | 1.60% | 1.56% | 1.26% | 7% | $3,070 |
Year Ended 4/30/2019 | $10.33 | 3.58% | 1.62%(d) | 1.56%(d) | 1.57% | 23% | $4,096 |
Year Ended 4/30/2018 | $10.13 | (0.38%) | 1.63% | 1.56% | 1.58% | 10% | $5,338 |
Institutional Class | |||||||
Year Ended 4/30/2022 | $9.71 | (6.98%) | 0.61%(c) | 0.55%(c) | 1.90% | 6% | $24,549 |
Year Ended 4/30/2021 | $10.64 | 5.72% | 0.63% | 0.56% | 1.93% | 15% | $26,145 |
Year Ended 4/30/2020 | $10.26 | 1.69% | 0.60% | 0.56% | 2.26% | 7% | $23,700 |
Year Ended 4/30/2019 | $10.32 | 4.52% | 0.62%(d) | 0.56%(d) | 2.57% | 23% | $22,897 |
Year Ended 4/30/2018 | $10.13 | 0.72% | 0.65% | 0.56% | 2.55% | 10% | $22,984 |
Institutional 3 Class | |||||||
Year Ended 4/30/2022 | $9.74 | (6.88%) | 0.53%(c) | 0.48%(c) | 1.98% | 6% | $115,305 |
Year Ended 4/30/2021 | $10.67 | 5.79% | 0.55% | 0.48% | 2.00% | 15% | $145,734 |
Year Ended 4/30/2020 | $10.29 | 1.67% | 0.52% | 0.48% | 2.34% | 7% | $141,450 |
Year Ended 4/30/2019 | $10.36 | 4.70% | 0.53%(d) | 0.48%(d) | 2.65% | 23% | $120,551 |
Year Ended 4/30/2018 | $10.16 | 0.83% | 0.54% | 0.48% | 2.68% | 10% | $117,741 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 21 |
April 30, 2022
22 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 23 |
April 30, 2022
24 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Effective rate (%) | |
Class A | 0.08 |
Advisor Class | 0.08 |
Class C | 0.08 |
Institutional Class | 0.08 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 4,131 |
Class C | — | 1.00(b) | — |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 25 |
April 30, 2022
Fee rate(s) contractual through August 31, 2022 | |
Class A | 0.81% |
Advisor Class | 0.56 |
Class C | 1.56 |
Institutional Class | 0.56 |
Institutional 3 Class | 0.48 |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(3) | 3 | — |
26 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Year Ended April 30, 2022 | Year Ended April 30, 2021 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
667 | 3,639,502 | — | 3,640,169 | 581 | 3,934,698 | — | 3,935,279 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
— | 1,113,572 | — | (1,528,681) | (4,995,686) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
164,254,038 | 955,156 | (5,950,842) | (4,995,686) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(528,605) | (1,000,076) | (1,528,681) | — |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 27 |
April 30, 2022
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 500,000 | 0.85 | 1 |
28 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
April 30, 2022
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 29 |
April 30, 2022
30 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 31 |
Exempt- interest dividends | |
99.98% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 176 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
32 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney, specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 176 | Former Trustee, Blue Cross and Blue Shield of Minnesota, 2009-2021 (Chair of the Business Development Committee, 2014-2017; Chair of the Governance Committee, 2017-2019); former Member and Chair of the Board, Minnesota Sports Facilities Authority, January 2017-July 2017; former Director, Robina Foundation, 2009-2020 (Chair, 2014-2020); Director, Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney, Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 176 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee) since 2019; Director, Apollo Commercial Real Estate Finance, Inc. since 2021; the Governing Council of the Independent Directors Council (IDC), since 2021 |
Janet Langford Carrig c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 174 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; Consultant to Independent Trustees of CFVIT and CFST I from March 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Managing Director and General Manager of Mutual Fund Products, Columbia Management Investment Advisers, LLC, May 2010-February 2015; President, Columbia Funds, 2008-2015; and senior officer of Columbia Funds and affiliated funds, 2003-2015 | 174 | Former Director, The Autism Project, March 2015-December 2021; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 33 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020 | Managing Director of Darragh Inc. (strategy and talent management consulting firm) since 2010; Founder and CEO, Zolio, Inc. (investment management talent identification platform) since 2004; Consultant to Independent Trustees of CFVIT and CFST I from June 2019 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 1990-2004; Touche Ross CPA, 1985-1988 | 174 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 176 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2020; former Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 176 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 176 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 174 | None |
34 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 174 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 176 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 176 | Director, Blue Cross Blue Shield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation since 1998 |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 35 |
(Unaudited)
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020 | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services), January 2016-January 2021; Non-executive Member of the Investment Committee and Valuation Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services), August 2018-January 2021; Advisor, Paradigm Asset Management, November 2016-December 2021; Consultant to Independent Trustees of CFVIT and CFST I from September 2016 to June 2020 with respect to CFVIT and to December 2020 with respect to CFST I; Director of Investments/Consultant, Casey Family Programs, April 2016-November 2016; Senior Vice President and Chief Investment Officer, Calvert Investments, August 2008-January 2016; Section Head and Portfolio Manager, General Motors Asset Management, June 1997-August 2008 | 174 | Former Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2012-2019; Director, Chair of Audit Committee, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2019; Independent Director, Investment Committee and Valuation Committee, Sarona Asset Management, since 2019 |
Sandra L. Yeager c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2017 | Retired; President and founder, Hanoverian Capital, LLC (SEC registered investment advisor firm), 2008-2016; Managing Director, DuPont Capital, 2006-2008; Managing Director, Morgan Stanley Investment Management, 2004-2006; Senior Vice President, Alliance Bernstein, 1990-2004 | 176 | Former Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Beckman, Gallagher and Hacker and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during the past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex overseen | Other directorships held by Trustee during the past five years |
Daniel J. Beckman c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since November 2021 and President since June 2021 | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC since April 2015; President and Principal Executive Officer of the Columbia Funds since June 2021; officer of Columbia Funds and affiliated funds, 2020-2021 | 176 | Director, Ameriprise Trust Company, since October 2016; Director, Columbia Management Investment Distributors, Inc. since November 2018; Board of Governors, Columbia Wanger Asset Management, LLC since January 2022 |
* | Interested person (as defined under the 1940 Act) by reason of being an officer, director, security holder and/or employee of the Investment Manager or Ameriprise Financial. |
36 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
(Unaudited)
The Board has appointed officers who are responsible for day-to-day business decisions based on policies it has established. The officers serve at the pleasure of the Board. The following table provides basic information about the Officers of the Fund as of the printing of this report, including principal occupations during the past five years, although their specific titles may have varied over the period. In addition to Mr. Beckman, who is President and Principal Executive Officer, the Fund’s other officers are:
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Senior Vice President and Head of Global Operations & Investor Services, Columbia Management Investment Advisers, LLC, since March 2022 (previously Vice President, Head of North American Operations, and Co-Head of Global Operations, June 2019 to February 2022 and Vice President – Accounting and Tax, May 2010 - May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee/Director of Columbia Funds Complex or legacy funds, November 2001-January 1, 2021; Chief Executive Officer, Global Asset Management, Ameriprise Financial, Inc. since September 2012; Chairman of the Board and President, Columbia Management Investment Advisers, LLC since July 2004 and February 2012, respectively; Chairman of the Board and Chief Executive Officer, Columbia Management Investment Distributors, Inc. since November 2008 and February 2012, respectively; Chairman of the Board and Director, Threadneedle Asset Management Holdings, Sàrl since March 2013 and December 2008, respectively; senior executive of various entities affiliated with Columbia Threadneedle. |
Christopher O. Petersen 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Senior Vice President and Assistant Secretary (2021) | Formerly, Trustee/Director of funds within the Columbia Funds Complex, July 1, 2020 - November 22, 2021; Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015 - September 2021); President and Principal Executive Officer of the Columbia Funds, 2015 - 2021; officer of Columbia Funds and affiliated funds since 2007. |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company, September 2010 – September 2020. |
Ryan C. Larrenaga 290 Congress Street Boston, MA 02210 1970 | Senior Vice President (2017), Chief Legal Officer (2017), and Secretary (2015) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since August 2018 (previously Vice President and Group Counsel, August 2011 - August 2018); Chief Legal Officer, Columbia Acorn/Wanger Funds, since September 2020; officer of Columbia Funds and affiliated funds since 2005. |
Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 | 37 |
(Unaudited)
Fund officers (continued)
Name, address and year of birth | Position and year first appointed to position for any Fund in the Columbia Funds Complex or a predecessor thereof | Principal occupation(s) during past five years |
Michael E. DeFao 290 Congress Street Boston, MA 02210 1968 | Vice President (2011) and Assistant Secretary (2010) | Vice President and Chief Counsel, Ameriprise Financial, Inc. since May 2010; Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since October 2021 (previously Vice President and Assistant Secretary, May 2010 – September 2021). |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
38 | Columbia North Carolina Intermediate Municipal Bond Fund | Annual Report 2022 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the five series of the registrant whose reports to stockholders are included in this annual filing. Fiscal Year 2021 also includes fees for two funds that liquidated during the period.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended April 30, 2022 and April 30, 2021 are approximately as follows:
20222021
$157,500 $221,400
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended April 30, 2022 and April 30, 2021 are approximately as follows:
2022 | 2021 |
$0 | $5,500 |
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended April 30, 2022 and April 30, 2021, there were no Audit- Related Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(c)Tax Fees. Aggregate Tax Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended April 30, 2022 and April 30,
2021 are approximately as follows:
2022 | 2021 |
$0 | $0 |
Tax Fees, if any, include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended April 30, 2022 and April 30, 2021, there were no Tax Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant.
(d)All Other Fees. Aggregate All Other Fees billed by the principal accountant to the registrant for professional services rendered during the fiscal years ended April 30, 2022 and April 30, 2021 are approximately as follows:
2022 | 2021 |
$0 | $0 |
All Other Fees, if any, include amounts for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) above.
Aggregate All Other Fees billed by the registrant's principal accountant to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for an engagement that related directly to the operations and financial reporting of the registrant during the fiscal years ended April 30,
2022 and April 30, 2021 are approximately as follows:
20222021
$520,000 $520,000
In fiscal years 2022 and 2021, All Other Fees primarily consists of fees billed for internal control examinations of the registrant's transfer agent and investment adviser.
(e)(1) Audit Committee Pre-Approval Policies and Procedures
The registrant's Audit Committee is required to pre-approve the engagement of the registrant's independent auditors to provide audit and non-audit services to the registrant and non-audit services to its investment adviser (excluding any sub-adviser whose role is primarily portfolio management and is sub-contracted or overseen by another investment adviser (the "Adviser") or any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (a "Control Affiliate") if the engagement relates directly to the operations and financial reporting of the registrant.
The Audit Committee has adopted a Policy for Engagement of Independent Auditors for Audit and Non-Audit Services (the "Policy"). The Policy sets forth the understanding of the Audit Committee regarding the engagement of the registrant's independent accountants to provide (i) audit and permissible audit-related, tax and other services to the registrant ("Fund Services"); (ii) non-audit services to the registrant's Adviser and any Control Affiliates, that relates directly to the operations and financial reporting of a Fund ("Fund-related Adviser Services"); and (iii) certain other audit and non-audit services to the registrant's Adviser and its Control Affiliates. A service will require specific pre-approval by the Audit Committee if it is to be provided by the Fund's independent auditor; provided, however, that pre-approval of non-audit services to the Fund, the Adviser or Control Affiliates may be waived if certain de minimis requirements set forth in the SEC's rules are met.
Under the Policy, the Audit Committee may delegate pre-approval authority to any pre- designated member or members who are independent board members. The member(s) to whom such authority is delegated must report, for informational purposes only, any pre- approval decisions to the Audit Committee at its next regular meeting. The Audit Committee's responsibilities with respect to the pre-approval of services performed by the independent auditor may not be delegated to management.
On an annual basis, at a regularly scheduled Audit Committee meeting, the Fund's Treasurer or other Fund officer shall submit to the Audit Committee a schedule of the types of Fund Services and Fund-related Adviser Services that are subject to specific pre- approval. This schedule will provide a description of each type of service that is subject to specific pre-approval, along with total projected fees for each service. The pre- approval will generally cover a one-year period. The Audit Committee will review and approve the types of services and the projected fees for the next one-year period and may add to, or subtract from, the list of pre-approved services from time to time, based on subsequent determinations. This specific approval acknowledges that the Audit Committee is in agreement with the specific types of services that the independent auditor will be permitted to perform and the projected fees for each service.
The Fund's Treasurer or other Fund officer shall report to the Audit Committee at each of its regular meetings regarding all Fund Services or Fund-related Adviser Services provided since the last such report was rendered, including a description of the services, by category, with forecasted fees for the annual reporting period, proposed changes requiring specific pre-approval and a description of services provided by the independent auditor, by category, with actual fees during the current reporting period.
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(e)(2) None, or 0%, of the Audit-Related Fees, Tax Fees and All Other Fees paid by the Fund or affiliated entities relating directly to the operations and financial reporting of the Registrant disclosed above were approved by the audit committee pursuant to paragraphs (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (which permits audit committee approval after the start of the engagement with respect to services other than audit, review or attest services, if certain conditions are satisfied).
(f)Not applicable.
(g)The aggregate non-audit fees billed by the registrant's accountant for services rendered to the registrant, and rendered to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for the fiscal years ended April 30, 2022 and April 30,
2021 are approximately as follows:
20222021
$520,000 $525,500
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
|
| ||
(registrant) |
| Columbia Funds Series Trust |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| June 23, 2022 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman | ||
|
| Daniel J. Beckman, President and Principal Executive Officer | |
Date |
| June 23, 2022 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| June 23, 2022 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| June 23, 2022 |
|