UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-09645
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
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: March 31
Date of reporting period: March 31, 2023
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.
March 31, 2023
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55 |
(Unaudited)
Average annual total returns (%) (for the period ended March 31, 2023) | ||||||
Inception | 1 Year | 5 Years | 10 Years | |||
Class A | Excluding sales charges | 10/02/92 | -0.31 | 1.25 | 0.87 | |
Including sales charges | -1.32 | 1.04 | 0.77 | |||
Advisor Class | 11/08/12 | -0.07 | 1.50 | 1.14 | ||
Class C | Excluding sales charges | 10/02/92 | -0.86 | 0.67 | 0.32 | |
Including sales charges | -1.84 | 0.67 | 0.32 | |||
Institutional Class | 09/30/92 | -0.07 | 1.52 | 1.14 | ||
Institutional 2 Class | 11/08/12 | 0.01 | 1.60 | 1.22 | ||
Institutional 3 Class | 07/15/09 | 0.06 | 1.63 | 1.27 | ||
Class R | 09/27/10 | -0.56 | 0.99 | 0.62 | ||
Bloomberg 1-3 Year Government/Credit Index | 0.26 | 1.26 | 1.01 |
Columbia Short Term Bond Fund | Annual Report 2023 | 3 |
(Unaudited)
Portfolio breakdown (%) (at March 31, 2023) | |
Asset-Backed Securities — Non-Agency | 22.1 |
Commercial Mortgage-Backed Securities - Non-Agency | 13.1 |
Corporate Bonds & Notes | 33.0 |
Foreign Government Obligations | 0.1 |
Money Market Funds | 1.5 |
Residential Mortgage-Backed Securities - Agency | 0.7 |
Residential Mortgage-Backed Securities - Non-Agency | 28.5 |
U.S. Treasury Obligations | 1.0 |
Total | 100.0 |
Quality breakdown (%) (at March 31, 2023) | |
AAA rating | 25.7 |
AA rating | 10.8 |
A rating | 21.1 |
BBB rating | 22.8 |
BB rating | 3.6 |
B rating | 3.4 |
CCC rating | 0.2 |
CC rating | 0.0(a) |
Not rated | 12.4 |
Total | 100.0 |
(a) | Rounds to zero. |
4 | Columbia Short Term Bond Fund | Annual Report 2023 |
(Unaudited)
• | The Fund’s positioning in non-agency collateralized mortgage obligations (CMOs) and commercial mortgage-backed securities (CMBS) detracted from performance. The Fund was overweight to non-agency mortgage CMOs and CMBS, both of which were out-of-benchmark sectors, and both contributed negatively to performance during the reporting period. |
○ | While CMO performance remains very strong, the non-agency mortgages were negatively impacted by the large extent of rate hikes during the year and the direct impact that had on their average lives extending. |
○ | The Fund’s CMBS exposure, meanwhile, was hurt by broader economic concerns within the commercial real estate space, and to office properties more specifically. |
• | The Fund was underweight in the investment-grade corporate sector, which marginally detracted from relative performance as the sector modestly outperformed the benchmark. Investment-grade corporates represented the Fund’s largest sector underweight, excluding Treasuries. |
• | The Fund was underweight in U.S. Treasury and agency securities in lieu of higher yielding spread sectors. While performance was mixed for non-government sectors, the net impact was slightly negative as spreads in general were wider over the course of the reporting period. |
• | The Fund was long duration, relative to the benchmark, as we believed that the Fed’s rapid pace of interest rate hikes increased the probability of recession. The level of interest rates moved up significantly during the year, leading to negative contribution to relative performance from duration and yield curve positioning. |
• | Within the Fund, investment-grade corporates performed best, followed by asset-backed securities (ABS) and high-yield corporates. |
• | The Fund was overweight to ABS and high-yield corporates, which were both out-of-benchmark sectors, and both contributed positively to performance during the reporting period. |
○ | The floating rate notes within ABS particularly benefited, as their coupons reset higher as short-term rates rose. |
Columbia Short Term Bond Fund | Annual Report 2023 | 5 |
(Unaudited)
○ | While spreads in the high-yield corporate sector did widen, their absolute level of yields was high enough to more than offset the negative impact on their prices. |
• | Security selection within the investment-grade corporate sector was particularly additive to performance, as the Fund avoided the names most negatively impacted by the regional banking crisis. |
6 | Columbia Short Term Bond Fund | Annual Report 2023 |
(Unaudited)
October 1, 2022 — March 31, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,029.40 | 1,021.39 | 3.59 | 3.58 | 0.71 |
Advisor Class | 1,000.00 | 1,000.00 | 1,031.80 | 1,022.64 | 2.33 | 2.32 | 0.46 |
Class C | 1,000.00 | 1,000.00 | 1,027.70 | 1,018.65 | 6.37 | 6.34 | 1.26 |
Institutional Class | 1,000.00 | 1,000.00 | 1,031.80 | 1,022.64 | 2.33 | 2.32 | 0.46 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,032.20 | 1,023.09 | 1.87 | 1.87 | 0.37 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,031.40 | 1,023.34 | 1.62 | 1.61 | 0.32 |
Class R | 1,000.00 | 1,000.00 | 1,029.20 | 1,020.14 | 4.86 | 4.84 | 0.96 |
Columbia Short Term Bond Fund | Annual Report 2023 | 7 |
March 31, 2023
Asset-Backed Securities — Non-Agency 22.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
ACM Auto Trust(a) | ||||
Subordinated Series 2022-1A Class B | ||||
04/20/2029 | 4.470% | 7,233,029 | 7,215,774 | |
Affirm Asset Securitization Trust(a) | ||||
Subordinated Series 2022-A Class C | ||||
05/17/2027 | 4.890% | 7,780,000 | 7,348,696 | |
American Credit Acceptance Receivables Trust(a) | ||||
Series 2020-2 Class D | ||||
05/13/2026 | 5.650% | 2,800,000 | 2,783,118 | |
Subordinated Series 2021-2 Class E | ||||
07/13/2027 | 2.540% | 1,550,000 | 1,441,757 | |
ARES XLVII CLO Ltd.(a),(b) | ||||
Series 2018-47A Class B | ||||
3-month USD LIBOR + 1.450% Floor 1.450% 04/15/2030 | 6.242% | 4,000,000 | 3,873,200 | |
Avant Loans Funding Trust(a) | ||||
Subordinated Series 2021-REV1 Class C | ||||
07/15/2030 | 2.300% | 950,000 | 877,352 | |
Barings CLO Ltd.(a),(b) | ||||
Series 2018-4A Class B | ||||
3-month USD LIBOR + 1.700% Floor 1.700% 10/15/2030 | 6.492% | 10,800,000 | 10,551,578 | |
Carlyle Global Market Strategies CLO Ltd.(a),(b) | ||||
Series 2013-4A Class BRR | ||||
3-month USD LIBOR + 1.420% Floor 1.420% 01/15/2031 | 6.212% | 5,000,000 | 4,759,655 | |
Carlyle US CLO Ltd.(a),(b) | ||||
Series 2016-4A Class A2R | ||||
3-month USD LIBOR + 1.450% Floor 1.450% 10/20/2027 | 6.258% | 3,000,000 | 2,944,224 | |
Series 2017-5A Class A1B | ||||
3-month USD LIBOR + 1.250% 01/20/2030 | 6.058% | 8,000,000 | 7,701,608 | |
Cascade Funding Mortgage Trust(a) | ||||
CMO Series 2021-GRN1 Class A | ||||
03/20/2041 | 1.100% | 1,292,774 | 1,192,773 | |
Credito Real USA Auto Receivables Trust(a) | ||||
Series 2021-1A Class A | ||||
02/16/2027 | 1.350% | 479,433 | 470,388 | |
Dext ABS LLC(a) | ||||
Subordinated Series 2020-1 Class B | ||||
11/15/2027 | 1.920% | 3,500,000 | 3,384,643 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Drive Auto Receivables Trust | ||||
Subordinated Series 2020-2 Class D | ||||
05/15/2028 | 3.050% | 650,000 | 635,563 | |
Dryden Senior Loan Fund(a),(b) | ||||
Series 2016-42A Class BR | ||||
3-month USD LIBOR + 1.550% 07/15/2030 | 6.342% | 3,025,000 | 2,927,305 | |
First Investors Auto Owner Trust(a) | ||||
Series 2021-1A Class A | ||||
03/16/2026 | 0.450% | 53,683 | 53,300 | |
Foundation Finance Trust(a) | ||||
Series 2019-1A Class A | ||||
11/15/2034 | 3.860% | 542,460 | 532,657 | |
FREED ABS Trust(a) | ||||
Subordinated Series 2021-1CP Class B | ||||
03/20/2028 | 1.410% | 93,941 | 93,709 | |
Subordinated Series 2021-2 Class C | ||||
06/19/2028 | 1.940% | 10,756,582 | 10,515,930 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2020-4A Class D | ||||
10/15/2026 | 1.640% | 1,600,000 | 1,532,187 | |
GoldentTree Loan Management US CLO 1 Ltd.(a),(b) | ||||
Series 2021-10A Class A | ||||
3-month USD LIBOR + 1.100% Floor 1.100% 07/20/2034 | 5.908% | 4,150,000 | 4,047,566 | |
Hertz Vehicle Financing LLC(a) | ||||
Series 2021-1A Class C | ||||
12/26/2025 | 2.050% | 3,000,000 | 2,797,971 | |
Jay Park CLO Ltd.(a),(b) | ||||
Series 2016-1A Class A2R | ||||
3-month USD LIBOR + 1.450% 10/20/2027 | 6.258% | 5,500,000 | 5,408,392 | |
Lendbuzz Securitization Trust(a) | ||||
Series 2022-1A Class A | ||||
05/17/2027 | 4.220% | 3,979,433 | 3,836,485 | |
LL ABS Trust(a) | ||||
Series 2021-1A Class A | ||||
05/15/2029 | 1.070% | 717,196 | 695,070 | |
Madison Park Funding XLVIII Ltd.(a),(b) | ||||
Series 2021-48A Class A | ||||
3-month USD LIBOR + 1.150% Floor 1.150% 04/19/2033 | 5.948% | 1,250,000 | 1,235,221 |
8 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Madison Park Funding XXXIII Ltd.(a),(b) | ||||
Series 2019-33A Class BR | ||||
3-month Term SOFR + 1.800% Floor 1.800% 10/15/2032 | 6.458% | 5,550,000 | 5,355,356 | |
MMAF Equipment Finance LLC(a) | ||||
Series 2020-A Class A3 | ||||
04/09/2027 | 0.970% | 2,010,000 | 1,882,305 | |
MVW LLC(a) | ||||
Series 2019-2A Class A | ||||
10/20/2038 | 2.220% | 1,483,803 | 1,389,947 | |
MVW Owner Trust(a) | ||||
Series 2017-1A Class A | ||||
12/20/2034 | 2.420% | 969,191 | 954,619 | |
NMEF Funding LLC(a) | ||||
Series 2021-A Class A2 | ||||
12/15/2027 | 0.810% | 328,338 | 325,612 | |
Octagon Investment Partners 39 Ltd.(a),(b) | ||||
Series 2018-3A Class B | ||||
3-month USD LIBOR + 1.850% Floor 1.650% 10/20/2030 | 6.658% | 11,200,000 | 10,879,635 | |
OHA Credit Partners VII Ltd.(a),(b) | ||||
Series 2012-7A Class AR3 | ||||
3-month USD LIBOR + 1.070% Floor 1.070% 02/20/2034 | 5.985% | 5,000,000 | 4,881,700 | |
OneMain Financial Issuance Trust(a) | ||||
Series 2022-2A Class A | ||||
10/14/2034 | 4.890% | 11,000,000 | 10,837,058 | |
Oportun Issuance Trust(a) | ||||
Series 2022-3 Class A | ||||
01/08/2030 | 7.451% | 4,062,793 | 4,072,471 | |
Pagaya AI Debt Selection Trust(a) | ||||
Series 2021-1 Class A | ||||
11/15/2027 | 1.180% | 511,059 | 506,475 | |
Series 2021-2 Class NOTE | ||||
01/25/2029 | 3.000% | 3,139,780 | 2,971,635 | |
Series 2021-3 Class A | ||||
05/15/2029 | 1.150% | 2,257,757 | 2,219,619 | |
Series 2021-5 Class A | ||||
08/15/2029 | 1.530% | 1,871,963 | 1,825,200 | |
Series 2021-HG1 Class A | ||||
01/16/2029 | 1.220% | 4,531,261 | 4,298,092 | |
Subordinated Series 2021-HG1 Class B | ||||
01/16/2029 | 1.820% | 716,783 | 686,955 | |
Pagaya AI Debt Trust(a) | ||||
Series 2022-5 Class A | ||||
06/17/2030 | 8.096% | 10,385,480 | 10,451,006 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Palmer Square Loan Funding Ltd.(a),(b) | ||||
Series 2020-1A Class A1 | ||||
3-month USD LIBOR + 0.800% Floor 0.800% 02/20/2028 | 5.715% | 2,610,979 | 2,599,031 | |
Race Point CLO Ltd.(a),(b) | ||||
Series 2013-8A Class AR2 | ||||
3-month USD LIBOR + 1.040% Floor 1.040% 02/20/2030 | 5.955% | 2,683,194 | 2,647,978 | |
Race Point IX CLO Ltd.(a),(b) | ||||
Series 2015-9A Class A2R | ||||
3-month USD LIBOR + 0.450% Floor 1.450% 10/15/2030 | 6.242% | 4,975,000 | 4,732,449 | |
Research-Driven Pagaya Motor Asset Trust IV(a) | ||||
Series 2021-2A Class A | ||||
03/25/2030 | 2.650% | 2,132,303 | 1,895,000 | |
RR 3 Ltd.(a),(b) | ||||
Series 2014-14A Class A2R2 | ||||
3-month USD LIBOR + 1.400% Floor 1.400% 01/15/2030 | 6.192% | 10,000,000 | 9,729,730 | |
Santander Drive Auto Receivables Trust | ||||
Subordinated Series 2019-2 Class D | ||||
07/15/2025 | 3.220% | 361,181 | 358,593 | |
SCF Equipment Leasing LLC(a) | ||||
Series 2019-2A Class B | ||||
08/20/2026 | 2.760% | 4,000,000 | 3,878,158 | |
Subordinated Series 2020-1A Class B | ||||
03/20/2028 | 2.020% | 4,900,000 | 4,700,739 | |
Sierra Timeshare Receivables Funding LLC(a) | ||||
Series 2018-2A Class A | ||||
06/20/2035 | 3.500% | 608,024 | 603,906 | |
Series 2018-3A Class A | ||||
09/20/2035 | 3.690% | 234,340 | 232,903 | |
Series 2021-1A Class A | ||||
11/20/2037 | 0.990% | 840,369 | 783,338 | |
Upstart Pass-Through Trust(a) | ||||
Series 2020-ST4 Class A | ||||
11/20/2026 | 3.250% | 1,516,552 | 1,460,268 | |
Series 2020-ST6 Class A | ||||
01/20/2027 | 3.000% | 1,384,946 | 1,322,751 | |
Series 2021-ST10 Class A | ||||
01/20/2030 | 2.250% | 4,765,180 | 4,569,567 | |
Series 2021-ST3 Class A | ||||
05/20/2027 | 2.000% | 1,309,365 | 1,232,782 | |
Upstart Securitization Trust(a) | ||||
Series 2020-2 Class A | ||||
11/20/2030 | 2.309% | 658,809 | 645,446 |
Columbia Short Term Bond Fund | Annual Report 2023 | 9 |
March 31, 2023
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2021-2 Class A | ||||
06/20/2031 | 0.910% | 785,852 | 779,477 | |
Subordinated Series 2021-2 Class B | ||||
06/20/2031 | 1.750% | 1,150,000 | 1,095,072 | |
Subordinated Series 2021-3 Class B | ||||
07/20/2031 | 1.660% | 1,250,000 | 1,179,026 | |
Volkswagen Auto Loan Enhanced Trust | ||||
Series 2020-1 Class A4 | ||||
08/20/2026 | 1.260% | 700,000 | 681,054 | |
Westlake Automobile Receivables Trust(a) | ||||
Subordinated Series 2021-2A Class D | ||||
12/15/2026 | 1.230% | 9,625,000 | 8,912,428 | |
Total Asset-Backed Securities — Non-Agency (Cost $213,036,611) | 206,433,503 | |||
Commercial Mortgage-Backed Securities - Non-Agency 13.1% | ||||
Ashford Hospitality Trust(a),(b) | ||||
Series 2018-KEYS Class B | ||||
1-month USD LIBOR + 1.450% Floor 1.450% 05/15/2035 | 6.134% | 9,100,000 | 8,882,918 | |
BAMLL Commercial Mortgage Securities Trust(a),(b) | ||||
Series 2018-DSNY Class C | ||||
1-month USD LIBOR + 1.350% Floor 1.350% 09/15/2034 | 6.035% | 11,500,000 | 11,040,446 | |
BBCMS Trust(a),(b) | ||||
Subordinated Series 2018-BXH Class B | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 10/15/2037 | 5.934% | 3,650,000 | 3,497,157 | |
Subordinated Series 2018-BXH Class C | ||||
1-month USD LIBOR + 1.500% Floor 1.500% 10/15/2037 | 6.184% | 1,975,000 | 1,870,696 | |
BHMS Mortgage Trust(a),(b) | ||||
Series 2018-ATLS Class A | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 07/15/2035 | 5.935% | 13,500,000 | 13,057,285 | |
BX Commercial Mortgage Trust(a),(c) | ||||
Series 2019-XL Class C | ||||
10/15/2036 | 6.192% | 6,188,000 | 6,050,894 | |
BX Mortgage Trust(a),(b) | ||||
Series 2021-PAC Class D | ||||
1-month USD LIBOR + 1.298% Floor 1.298% 10/15/2036 | 5.983% | 6,350,000 | 5,846,255 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BX Trust(a),(b) | ||||
Series 2019-ATL Class C | ||||
1-month USD LIBOR + 1.587% Floor 1.587%, Cap 1.587% 10/15/2036 | 6.271% | 2,180,000 | 2,087,443 | |
Subordinated Series 2019-ATL Class D | ||||
1-month USD LIBOR + 1.887% Floor 1.887% 10/15/2036 | 6.571% | 1,931,000 | 1,810,432 | |
CIM Retail Portfolio Trust(a),(b) | ||||
Series 2021-RETL Class D | ||||
1-month USD LIBOR + 3.050% Floor 3.050% 08/15/2036 | 7.734% | 3,263,231 | 3,196,616 | |
CLNY Trust(a),(b) | ||||
Subordinated Series 2019-IKPR Class D | ||||
1-month USD LIBOR + 2.025% Floor 2.025% 11/15/2038 | 6.967% | 5,900,000 | 5,412,993 | |
Extended Stay America Trust(a),(b) | ||||
Series 2021-ESH Class E | ||||
1-month USD LIBOR + 2.850% Floor 2.850% 07/15/2038 | 7.534% | 854,168 | 807,166 | |
GS Mortgage Securities Corp. Trust(a),(b) | ||||
Series 2022-SHIP Class A | ||||
1-month Term SOFR + 0.731% Floor 0.731% 08/15/2036 | 4.525% | 5,150,000 | 5,087,271 | |
KKR Industrial Portfolio Trust(a),(b) | ||||
Subordinated Series 2021-KDIP Class D | ||||
1-month Term SOFR + 1.364% Floor 1.250% 12/15/2037 | 6.192% | 975,000 | 921,182 | |
Morgan Stanley Capital I Trust(a),(c) | ||||
Series 2019-MEAD Class D | ||||
11/10/2036 | 3.283% | 3,675,000 | 3,220,359 | |
One New York Plaza Trust(a),(b) | ||||
Subordinated Series 2020-1NYP Class C | ||||
1-month USD LIBOR + 2.200% Floor 2.200% 01/15/2036 | 6.884% | 3,000,000 | 2,645,211 | |
Subordinated Series 2020-1NYP Class D | ||||
1-month USD LIBOR + 2.750% Floor 2.750% 01/15/2036 | 7.434% | 1,125,000 | 958,635 | |
Progress Residential Trust(a) | ||||
Series 2020-SFR1 Class C | ||||
04/17/2037 | 2.183% | 1,000,000 | 932,461 | |
Series 2020-SFR1 Class D | ||||
04/17/2037 | 2.383% | 2,025,000 | 1,879,414 |
10 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020-SFR2 Class A | ||||
06/17/2037 | 2.078% | 1,198,520 | 1,115,661 | |
Subordinated Series 2020-SFR2 Class C | ||||
06/17/2037 | 3.077% | 300,000 | 282,396 | |
Subordinated Series 2020-SFR2 Class D | ||||
06/17/2037 | 3.874% | 350,000 | 333,374 | |
RBS Commercial Funding, Inc., Trust(a),(c) | ||||
Series 2013-GSP Class A | ||||
01/15/2032 | 3.834% | 8,200,000 | 7,937,634 | |
SPGN TFLM Mortgage Trust(a),(b) | ||||
Series 2022 Class A | ||||
1-month Term SOFR + 1.550% Floor 1.550% 02/15/2039 | 6.377% | 14,125,000 | 13,489,807 | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Series 2017-SMP Class A | ||||
1-month USD LIBOR + 0.875% Floor 0.875% 12/15/2034 | 5.559% | 16,055,000 | 15,112,626 | |
Series 2020-SDAL Class D | ||||
1-month USD LIBOR + 2.090% Floor 2.090%, Cap 4.500% 02/15/2037 | 6.774% | 1,600,000 | 1,523,630 | |
Series 2021-FCMT Class A | ||||
1-month USD LIBOR + 1.200% Floor 1.200% 05/15/2031 | 5.884% | 1,900,000 | 1,790,477 | |
Series 2021-FCMT Class D | ||||
1-month USD LIBOR + 3.500% Floor 3.500% 05/15/2031 | 8.184% | 1,575,000 | 1,434,965 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $128,632,278) | 122,225,404 | |||
Corporate Bonds & Notes 33.0% | ||||
Aerospace & Defense 1.5% | ||||
BAE Systems Holdings, Inc.(a) | ||||
12/15/2025 | 3.850% | 3,500,000 | 3,422,612 | |
Boeing Co. (The) | ||||
02/01/2027 | 2.700% | 4,000,000 | 3,689,529 | |
General Dynamics Corp. | ||||
05/15/2028 | 3.750% | 2,000,000 | 1,954,750 | |
L3Harris Technologies, Inc. | ||||
12/15/2026 | 3.850% | 1,075,000 | 1,049,190 | |
Northrop Grumman Corp. | ||||
02/01/2027 | 3.200% | 2,000,000 | 1,914,190 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
TransDigm, Inc.(a) | ||||
12/15/2025 | 8.000% | 816,000 | 832,114 | |
03/15/2026 | 6.250% | 883,000 | 883,693 | |
08/15/2028 | 6.750% | 112,000 | 113,120 | |
TransDigm, Inc. | ||||
06/15/2026 | 6.375% | 216,000 | 212,317 | |
Total | 14,071,515 | |||
Airlines 0.2% | ||||
Air Canada(a) | ||||
08/15/2026 | 3.875% | 313,000 | 284,331 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(a) | ||||
04/20/2026 | 5.500% | 770,000 | 758,749 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(a) | ||||
01/20/2026 | 5.750% | 444,673 | 422,411 | |
United Airlines, Inc.(a) | ||||
04/15/2026 | 4.375% | 618,000 | 592,601 | |
Total | 2,058,092 | |||
Automotive 0.5% | ||||
American Axle & Manufacturing, Inc. | ||||
03/15/2026 | 6.250% | 95,000 | 91,603 | |
Clarios Global LP(a) | ||||
05/15/2025 | 6.750% | 741,000 | 748,072 | |
Ford Motor Credit Co. LLC | ||||
11/17/2023 | 3.370% | 200,000 | 196,260 | |
03/18/2024 | 5.584% | 978,000 | 968,496 | |
11/13/2025 | 3.375% | 309,000 | 286,651 | |
05/28/2027 | 4.950% | 140,000 | 133,528 | |
IHO Verwaltungs GmbH(a),(d) | ||||
09/15/2026 | 4.750% | 522,603 | 466,395 | |
KAR Auction Services, Inc.(a) | ||||
06/01/2025 | 5.125% | 1,303,000 | 1,286,932 | |
ZF North America Capital, Inc.(a) | ||||
04/29/2025 | 4.750% | 191,000 | 187,748 | |
Total | 4,365,685 | |||
Banking 8.9% | ||||
American Express Co. | ||||
11/05/2027 | 5.850% | 3,000,000 | 3,150,523 | |
Bank of America Corp.(e) | ||||
03/11/2027 | 1.658% | 11,000,000 | 9,951,363 | |
Bank of Montreal | ||||
06/07/2025 | 3.700% | 2,500,000 | 2,430,307 | |
Bank of New York Mellon Corp. (The)(e) | ||||
06/13/2028 | 3.992% | 2,500,000 | 2,431,031 | |
Bank of Nova Scotia (The) | ||||
02/02/2026 | 4.750% | 3,000,000 | 2,982,626 |
Columbia Short Term Bond Fund | Annual Report 2023 | 11 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Canadian Imperial Bank of Commerce(b) | ||||
3-month USD LIBOR + 0.660% 09/13/2023 | 5.814% | 2,500,000 | 2,499,161 | |
Citigroup, Inc. | ||||
Subordinated | ||||
03/09/2026 | 4.600% | 7,000,000 | 6,868,119 | |
Discover Bank | ||||
09/12/2024 | 2.450% | 2,000,000 | 1,895,264 | |
Goldman Sachs Group, Inc. (The)(e) | ||||
08/23/2028 | 4.482% | 7,000,000 | 6,848,263 | |
HSBC Holdings PLC(e) | ||||
03/09/2029 | 6.161% | 4,840,000 | 4,975,373 | |
JPMorgan Chase & Co.(e) | ||||
07/25/2028 | 4.851% | 10,000,000 | 9,983,914 | |
Morgan Stanley(e) | ||||
10/16/2026 | 6.138% | 7,250,000 | 7,417,074 | |
PNC Financial Services Group, Inc. (The)(e) | ||||
12/02/2028 | 5.354% | 2,000,000 | 2,012,003 | |
Royal Bank of Canada | ||||
04/27/2026 | 1.200% | 3,000,000 | 2,692,425 | |
Toronto-Dominion Bank (The) | ||||
06/03/2026 | 1.200% | 3,500,000 | 3,117,654 | |
Truist Financial Corp.(e) | ||||
06/06/2028 | 4.123% | 3,000,000 | 2,852,734 | |
US Bancorp(e) | ||||
07/22/2028 | 4.548% | 2,000,000 | 1,946,837 | |
Wells Fargo & Co. | ||||
Subordinated | ||||
06/03/2026 | 4.100% | 7,000,000 | 6,778,811 | |
Westpac Banking Corp. | ||||
11/18/2027 | 5.457% | 2,460,000 | 2,557,157 | |
Total | 83,390,639 | |||
Brokerage/Asset Managers/Exchanges 0.0% | ||||
AG TTMT Escrow Issuer LLC(a) | ||||
09/30/2027 | 8.625% | 190,000 | 191,186 | |
Building Materials 0.1% | ||||
Beacon Roofing Supply, Inc.(a) | ||||
11/15/2026 | 4.500% | 842,000 | 797,450 | |
Standard Industries, Inc.(a) | ||||
02/15/2027 | 5.000% | 470,000 | 447,733 | |
Total | 1,245,183 | |||
Cable and Satellite 0.8% | ||||
CCO Holdings LLC/Capital Corp.(a) | ||||
05/01/2026 | 5.500% | 77,000 | 74,969 | |
05/01/2027 | 5.125% | 794,000 | 749,971 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Charter Communications Operating LLC/Capital | ||||
01/15/2029 | 2.250% | 3,500,000 | 2,918,738 | |
CSC Holdings LLC | ||||
06/01/2024 | 5.250% | 496,000 | 478,684 | |
CSC Holdings LLC(a) | ||||
04/15/2027 | 5.500% | 653,000 | 549,836 | |
DISH DBS Corp.(a) | ||||
12/01/2026 | 5.250% | 566,000 | 452,197 | |
DISH Network Corp.(a) | ||||
11/15/2027 | 11.750% | 346,000 | 332,697 | |
Radiate Holdco LLC/Finance, Inc.(a) | ||||
09/15/2026 | 4.500% | 755,000 | 590,329 | |
Sirius XM Radio, Inc.(a) | ||||
09/01/2026 | 3.125% | 436,000 | 393,245 | |
Videotron Ltd.(a) | ||||
04/15/2027 | 5.125% | 512,000 | 494,136 | |
Ziggo Bond Finance BV(a) | ||||
01/15/2027 | 6.000% | 655,000 | 603,238 | |
Total | 7,638,040 | |||
Chemicals 0.2% | ||||
Avient Corp.(a) | ||||
05/15/2025 | 5.750% | 95,000 | 94,398 | |
Axalta Coating Systems LLC/Dutch Holding B BV(a) | ||||
06/15/2027 | 4.750% | 255,000 | 242,489 | |
INEOS Quattro Finance 2 Plc(a) | ||||
01/15/2026 | 3.375% | 633,000 | 581,754 | |
LYB International Finance III LLC | ||||
10/01/2025 | 1.250% | 1,000,000 | 906,645 | |
WR Grace Holdings LLC(a) | ||||
06/15/2027 | 4.875% | 195,000 | 187,897 | |
Total | 2,013,183 | |||
Construction Machinery 0.3% | ||||
Caterpillar Financial Services Corp. | ||||
01/06/2026 | 4.800% | 1,000,000 | 1,016,235 | |
Herc Holdings, Inc.(a) | ||||
07/15/2027 | 5.500% | 490,000 | 472,790 | |
John Deere Capital Corp. | ||||
01/09/2026 | 4.800% | 1,000,000 | 1,015,207 | |
Ritchie Bros Holdings, Inc.(a) | ||||
03/15/2028 | 6.750% | 88,000 | 90,615 | |
Total | 2,594,847 | |||
Consumer Cyclical Services 0.2% | ||||
Match Group, Inc.(a) | ||||
12/15/2027 | 5.000% | 104,000 | 98,418 |
12 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Prime Security Services Borrower LLC/Finance, Inc.(a) | ||||
04/15/2024 | 5.250% | 377,000 | 373,952 | |
Uber Technologies, Inc.(a) | ||||
05/15/2025 | 7.500% | 1,033,000 | 1,045,719 | |
Total | 1,518,089 | |||
Consumer Products 0.2% | ||||
CD&R Smokey Buyer, Inc.(a) | ||||
07/15/2025 | 6.750% | 991,000 | 850,129 | |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 145,000 | 141,989 | |
09/15/2027 | 6.375% | 78,000 | 78,711 | |
Newell, Inc. | ||||
04/01/2026 | 4.450% | 195,000 | 187,736 | |
Spectrum Brands, Inc. | ||||
07/15/2025 | 5.750% | 222,000 | 220,286 | |
Total | 1,478,851 | |||
Diversified Manufacturing 0.6% | ||||
Carrier Global Corp. | ||||
02/15/2027 | 2.493% | 2,000,000 | 1,854,866 | |
Gates Global LLC/Co.(a) | ||||
01/15/2026 | 6.250% | 962,000 | 949,499 | |
Siemens Financieringsmaatschappij NV(a) | ||||
03/11/2026 | 1.200% | 1,500,000 | 1,366,232 | |
Vertical US Newco, Inc.(a) | ||||
07/15/2027 | 5.250% | 250,000 | 235,897 | |
WESCO Distribution, Inc.(a) | ||||
06/15/2025 | 7.125% | 996,000 | 1,012,749 | |
Total | 5,419,243 | |||
Electric 3.0% | ||||
American Electric Power Co., Inc. | ||||
11/01/2027 | 5.750% | 2,000,000 | 2,078,730 | |
Calpine Corp.(a) | ||||
06/01/2026 | 5.250% | 144,000 | 140,276 | |
CenterPoint Energy, Inc. | ||||
06/01/2026 | 1.450% | 2,250,000 | 2,037,216 | |
Dominion Energy, Inc. | ||||
10/01/2025 | 3.900% | 2,000,000 | 1,954,192 | |
DTE Energy Co. | ||||
06/01/2025 | 1.050% | 1,750,000 | 1,607,403 | |
Duke Energy Corp. | ||||
03/15/2028 | 4.300% | 2,110,000 | 2,068,677 | |
Emera US Finance LP | ||||
06/15/2026 | 3.550% | 2,000,000 | 1,907,469 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Eversource Energy | ||||
03/01/2028 | 5.450% | 2,600,000 | 2,694,212 | |
FirstEnergy Corp. | ||||
01/15/2026 | 1.600% | 2,750,000 | 2,513,835 | |
NextEra Energy Capital Holdings, Inc. | ||||
07/15/2027 | 4.625% | 2,500,000 | 2,493,959 | |
NextEra Energy Operating Partners LP(a) | ||||
07/15/2024 | 4.250% | 618,000 | 609,838 | |
10/15/2026 | 3.875% | 166,000 | 155,104 | |
PPL Capital Funding, Inc. | ||||
05/15/2026 | 3.100% | 2,500,000 | 2,370,922 | |
Southern Co. (The) | ||||
03/15/2028 | 1.750% | 3,500,000 | 3,025,645 | |
Vistra Operations Co. LLC(a) | ||||
09/01/2026 | 5.500% | 274,000 | 266,281 | |
02/15/2027 | 5.625% | 511,000 | 497,833 | |
WEC Energy Group, Inc. | ||||
01/15/2028 | 4.750% | 2,000,000 | 2,000,352 | |
Total | 28,421,944 | |||
Environmental 0.1% | ||||
GFL Environmental, Inc.(a) | ||||
06/01/2025 | 4.250% | 417,000 | 406,775 | |
12/15/2026 | 5.125% | 166,000 | 162,412 | |
Waste Pro USA, Inc.(a) | ||||
02/15/2026 | 5.500% | 583,000 | 536,374 | |
Total | 1,105,561 | |||
Finance Companies 0.2% | ||||
Navient Corp. | ||||
10/25/2024 | 5.875% | 149,000 | 145,068 | |
06/25/2025 | 6.750% | 159,000 | 155,815 | |
Provident Funding Associates LP/Finance Corp.(a) | ||||
06/15/2025 | 6.375% | 215,000 | 190,013 | |
Rocket Mortgage LLC/Co-Issuer, Inc.(a) | ||||
10/15/2026 | 2.875% | 1,077,000 | 960,066 | |
Springleaf Finance Corp. | ||||
03/15/2024 | 6.125% | 522,000 | 508,581 | |
Total | 1,959,543 | |||
Food and Beverage 1.3% | ||||
Bacardi Ltd.(a) | ||||
05/15/2025 | 4.450% | 4,100,000 | 4,036,593 | |
Diageo Capital PLC | ||||
10/24/2027 | 5.300% | 2,275,000 | 2,365,610 | |
FAGE International SA/USA Dairy Industry, Inc.(a) | ||||
08/15/2026 | 5.625% | 264,000 | 247,025 |
Columbia Short Term Bond Fund | Annual Report 2023 | 13 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Kraft Heinz Foods Co. | ||||
05/15/2027 | 3.875% | 2,000,000 | 1,952,214 | |
Mondelez International, Inc. | ||||
03/17/2027 | 2.625% | 1,500,000 | 1,401,133 | |
Pilgrim’s Pride Corp.(a) | ||||
09/30/2027 | 5.875% | 325,000 | 322,963 | |
Post Holdings, Inc.(a) | ||||
03/01/2027 | 5.750% | 357,000 | 350,454 | |
Tyson Foods, Inc. | ||||
03/01/2026 | 4.000% | 1,000,000 | 982,304 | |
US Foods, Inc.(a) | ||||
04/15/2025 | 6.250% | 882,000 | 890,350 | |
Total | 12,548,646 | |||
Gaming 0.5% | ||||
Churchill Downs, Inc.(a) | ||||
04/01/2027 | 5.500% | 128,000 | 125,301 | |
Colt Merger Sub, Inc.(a) | ||||
07/01/2025 | 5.750% | 1,120,000 | 1,124,868 | |
07/01/2025 | 6.250% | 1,227,000 | 1,227,384 | |
International Game Technology PLC(a) | ||||
02/15/2025 | 6.500% | 468,000 | 472,589 | |
04/15/2026 | 4.125% | 257,000 | 248,822 | |
VICI Properties LP/Note Co., Inc.(a) | ||||
05/01/2024 | 5.625% | 511,000 | 506,994 | |
02/15/2025 | 3.500% | 377,000 | 357,180 | |
06/15/2025 | 4.625% | 121,000 | 116,969 | |
12/01/2026 | 4.250% | 273,000 | 255,764 | |
Wynn Las Vegas LLC/Capital Corp.(a) | ||||
03/01/2025 | 5.500% | 219,000 | 214,522 | |
Total | 4,650,393 | |||
Health Care 1.8% | ||||
Becton Dickinson and Co. | ||||
02/13/2028 | 4.693% | 2,000,000 | 2,008,878 | |
CHS/Community Health Systems, Inc.(a) | ||||
03/15/2026 | 8.000% | 235,000 | 227,219 | |
Cigna Corp. | ||||
03/01/2027 | 3.400% | 2,085,000 | 1,995,114 | |
CVS Health Corp. | ||||
06/01/2026 | 2.875% | 2,000,000 | 1,900,461 | |
GE Healthcare Holding LLC(a) | ||||
11/15/2027 | 5.650% | 3,400,000 | 3,515,437 | |
HCA, Inc. | ||||
02/15/2026 | 5.875% | 3,000,000 | 3,043,772 | |
HealthSouth Corp. | ||||
09/15/2025 | 5.750% | 145,000 | 144,220 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
IQVIA, Inc.(a) | ||||
10/15/2026 | 5.000% | 435,000 | 425,910 | |
05/15/2027 | 5.000% | 180,000 | 176,322 | |
Select Medical Corp.(a) | ||||
08/15/2026 | 6.250% | 1,323,000 | 1,283,399 | |
Tenet Healthcare Corp. | ||||
07/15/2024 | 4.625% | 382,000 | 376,835 | |
09/01/2024 | 4.625% | 767,000 | 756,227 | |
01/01/2026 | 4.875% | 417,000 | 408,803 | |
02/01/2027 | 6.250% | 589,000 | 579,375 | |
Total | 16,841,972 | |||
Healthcare Insurance 0.5% | ||||
Anthem, Inc. | ||||
03/15/2026 | 1.500% | 2,175,000 | 1,983,013 | |
UnitedHealth Group, Inc. | ||||
10/15/2027 | 2.950% | 3,000,000 | 2,836,022 | |
Total | 4,819,035 | |||
Home Construction 0.0% | ||||
Taylor Morrison Communities, Inc./Holdings II(a) | ||||
03/01/2024 | 5.625% | 183,000 | 183,090 | |
TRI Pointe Group, Inc./Homes | ||||
06/15/2024 | 5.875% | 154,000 | 153,483 | |
Total | 336,573 | |||
Independent Energy 0.5% | ||||
Canadian Natural Resources Ltd. | ||||
02/01/2025 | 3.900% | 2,000,000 | 1,957,928 | |
CrownRock LP/Finance, Inc.(a) | ||||
10/15/2025 | 5.625% | 568,000 | 557,382 | |
Woodside Finance Ltd.(a) | ||||
03/05/2025 | 3.650% | 2,200,000 | 2,141,465 | |
Total | 4,656,775 | |||
Leisure 0.6% | ||||
Carnival Corp.(a) | ||||
03/01/2026 | 7.625% | 224,000 | 204,370 | |
03/01/2027 | 5.750% | 462,000 | 379,376 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Operations LLC(a) | ||||
05/01/2025 | 5.500% | 428,000 | 427,655 | |
Cinemark USA, Inc.(a) | ||||
05/01/2025 | 8.750% | 367,000 | 374,483 | |
03/15/2026 | 5.875% | 312,000 | 293,828 | |
Live Nation Entertainment, Inc.(a) | ||||
11/01/2024 | 4.875% | 855,000 | 838,140 | |
03/15/2026 | 5.625% | 335,000 | 325,252 | |
05/15/2027 | 6.500% | 265,000 | 267,570 |
14 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Royal Caribbean Cruises Ltd.(a) | ||||
06/01/2025 | 11.500% | 233,000 | 248,475 | |
07/01/2026 | 4.250% | 400,000 | 358,978 | |
08/31/2026 | 5.500% | 275,000 | 255,609 | |
Six Flags Entertainment Corp.(a) | ||||
07/31/2024 | 4.875% | 400,000 | 396,680 | |
04/15/2027 | 5.500% | 368,000 | 355,606 | |
Six Flags Theme Parks, Inc.(a) | ||||
07/01/2025 | 7.000% | 69,000 | 69,753 | |
Vail Resorts, Inc.(a) | ||||
05/15/2025 | 6.250% | 436,000 | 438,080 | |
Total | 5,233,855 | |||
Life Insurance 1.5% | ||||
CoreBridge Financial, Inc.(a) | ||||
04/05/2027 | 3.650% | 3,200,000 | 3,000,235 | |
Five Corners Funding Trust(a) | ||||
11/15/2023 | 4.419% | 2,000,000 | 1,983,355 | |
Metropolitan Life Global Funding I(a) | ||||
06/30/2027 | 4.400% | 3,500,000 | 3,433,375 | |
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 3,547,000 | 3,445,340 | |
Principal Life Global Funding II(a) | ||||
11/17/2026 | 1.500% | 2,500,000 | 2,196,486 | |
Total | 14,058,791 | |||
Lodging 0.0% | ||||
Hilton Domestic Operating Co., Inc.(a) | ||||
05/01/2025 | 5.375% | 380,000 | 379,166 | |
Media and Entertainment 0.7% | ||||
Clear Channel Worldwide Holdings, Inc.(a) | ||||
08/15/2027 | 5.125% | 380,000 | 340,939 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 1,203,000 | 1,061,647 | |
Magallanes, Inc.(a) | ||||
03/15/2027 | 3.755% | 3,900,000 | 3,674,110 | |
Netflix, Inc. | ||||
03/01/2024 | 5.750% | 272,000 | 274,120 | |
Netflix, Inc.(a) | ||||
06/15/2025 | 3.625% | 124,000 | 120,551 | |
Outfront Media Capital LLC/Corp.(a) | ||||
06/15/2025 | 6.250% | 858,000 | 856,044 | |
Univision Communications, Inc.(a) | ||||
02/15/2025 | 5.125% | 290,000 | 284,767 | |
Total | 6,612,178 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Metals and Mining 0.2% | ||||
Constellium NV(a) | ||||
02/15/2026 | 5.875% | 783,000 | 783,427 | |
Hudbay Minerals, Inc.(a) | ||||
04/01/2026 | 4.500% | 905,000 | 841,839 | |
Novelis Corp.(a) | ||||
11/15/2026 | 3.250% | 432,000 | 394,534 | |
Total | 2,019,800 | |||
Midstream 2.1% | ||||
Enbridge, Inc. | ||||
12/01/2026 | 4.250% | 2,152,000 | 2,113,831 | |
Enterprise Products Operating LLC | ||||
02/15/2025 | 3.750% | 2,000,000 | 1,967,930 | |
EQM Midstream Partners LP | ||||
08/01/2024 | 4.000% | 70,000 | 67,521 | |
12/01/2026 | 4.125% | 327,000 | 296,446 | |
EQM Midstream Partners LP(a) | ||||
07/01/2025 | 6.000% | 332,000 | 328,408 | |
06/01/2027 | 7.500% | 140,000 | 140,512 | |
Holly Energy Partners LP/Finance Corp.(a) | ||||
04/15/2027 | 6.375% | 241,000 | 239,057 | |
Kinder Morgan, Inc. | ||||
11/15/2026 | 1.750% | 2,250,000 | 2,027,203 | |
MPLX LP | ||||
03/15/2028 | 4.000% | 3,000,000 | 2,871,307 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 680,000 | 663,574 | |
06/01/2026 | 6.000% | 497,000 | 485,533 | |
Plains All American Pipeline LP/Finance Corp. | ||||
12/15/2026 | 4.500% | 3,500,000 | 3,421,939 | |
Western Midstream Operating LP | ||||
02/01/2025 | 3.350% | 1,649,000 | 1,576,592 | |
Williams Companies, Inc. (The) | ||||
06/15/2027 | 3.750% | 3,500,000 | 3,360,382 | |
Total | 19,560,235 | |||
Natural Gas 0.3% | ||||
NiSource, Inc. | ||||
03/30/2028 | 5.250% | 3,175,000 | 3,230,975 | |
Other Industry 0.0% | ||||
Picasso Finance Sub, Inc.(a) | ||||
06/15/2025 | 6.125% | 438,000 | 435,329 | |
Other REIT 0.2% | ||||
Blackstone Mortgage Trust, Inc.(a) | ||||
01/15/2027 | 3.750% | 281,000 | 221,578 |
Columbia Short Term Bond Fund | Annual Report 2023 | 15 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ladder Capital Finance Holdings LLLP/Corp.(a) | ||||
10/01/2025 | 5.250% | 75,000 | 66,263 | |
02/01/2027 | 4.250% | 769,000 | 607,299 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(a) | ||||
06/01/2025 | 7.500% | 599,000 | 602,595 | |
RLJ Lodging Trust LP(a) | ||||
07/01/2026 | 3.750% | 618,000 | 569,479 | |
Total | 2,067,214 | |||
Packaging 0.3% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(a) | ||||
06/15/2027 | 6.000% | 335,000 | 331,976 | |
Ardagh Packaging Finance PLC/Holdings USA, Inc.(a) | ||||
04/30/2025 | 5.250% | 341,000 | 337,213 | |
Berry Global, Inc.(a) | ||||
02/15/2026 | 4.500% | 448,000 | 436,173 | |
CANPACK SA/Eastern PA Land Investment Holding LLC(a) | ||||
11/01/2025 | 3.125% | 380,000 | 345,483 | |
Sealed Air Corp.(a) | ||||
02/01/2028 | 6.125% | 25,000 | 25,297 | |
Trivium Packaging Finance BV(a) | ||||
08/15/2026 | 5.500% | 921,000 | 882,099 | |
Total | 2,358,241 | |||
Pharmaceuticals 1.0% | ||||
AbbVie, Inc. | ||||
05/14/2026 | 3.200% | 3,000,000 | 2,896,219 | |
Amgen, Inc. | ||||
08/15/2028 | 1.650% | 3,400,000 | 2,952,556 | |
Astrazeneca Finance LLC | ||||
03/03/2028 | 4.875% | 2,075,000 | 2,135,048 | |
Bausch Health Companies, Inc.(a) | ||||
11/01/2025 | 5.500% | 186,000 | 155,132 | |
Bristol Myers Squibb Co. | ||||
06/15/2026 | 3.200% | 1,000,000 | 967,035 | |
Total | 9,105,990 | |||
Property & Casualty 0.2% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(a) | ||||
04/15/2028 | 6.750% | 304,000 | 303,478 | |
American International Group, Inc. | ||||
04/01/2026 | 3.900% | 1,221,000 | 1,188,482 | |
Radian Group, Inc. | ||||
10/01/2024 | 4.500% | 285,000 | 276,591 | |
03/15/2025 | 6.625% | 423,000 | 420,649 | |
03/15/2027 | 4.875% | 107,000 | 101,190 | |
Total | 2,290,390 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Railroads 0.2% | ||||
CSX Corp. | ||||
11/01/2025 | 3.350% | 1,628,000 | 1,579,132 | |
Refining 0.2% | ||||
Phillips 66 | ||||
12/01/2027 | 4.950% | 2,000,000 | 2,008,992 | |
Restaurants 0.2% | ||||
1011778 BC ULC/New Red Finance, Inc.(a) | ||||
04/15/2025 | 5.750% | 526,000 | 528,117 | |
IRB Holding Corp.(a) | ||||
06/15/2025 | 7.000% | 1,300,000 | 1,303,694 | |
Total | 1,831,811 | |||
Retailers 0.4% | ||||
Lowe’s Companies, Inc. | ||||
05/03/2027 | 3.100% | 3,500,000 | 3,324,032 | |
Supermarkets 0.1% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 7.500% | 307,000 | 317,484 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 3.250% | 305,000 | 287,052 | |
Total | 604,536 | |||
Technology 1.8% | ||||
Block, Inc. | ||||
06/01/2026 | 2.750% | 577,000 | 526,210 | |
Boxer Parent Co., Inc.(a) | ||||
10/02/2025 | 7.125% | 353,000 | 355,130 | |
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2027 | 3.875% | 3,750,000 | 3,625,916 | |
Camelot Finance SA(a) | ||||
11/01/2026 | 4.500% | 586,000 | 553,487 | |
CommScope Finance LLC(a) | ||||
03/01/2026 | 6.000% | 274,000 | 264,148 | |
Entegris, Inc.(a) | ||||
04/15/2028 | 4.375% | 105,000 | 95,251 | |
Iron Mountain, Inc.(a) | ||||
09/15/2027 | 4.875% | 255,000 | 240,858 | |
Microchip Technology, Inc. | ||||
02/15/2024 | 0.972% | 2,500,000 | 2,399,964 | |
NCR Corp.(a) | ||||
09/01/2027 | 5.750% | 250,000 | 245,434 | |
NXP BV/Funding LLC/USA, Inc. | ||||
05/01/2027 | 3.150% | 3,800,000 | 3,523,332 |
16 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Oracle Corp. | ||||
05/06/2028 | 4.500% | 2,500,000 | 2,470,574 | |
PTC, Inc.(a) | ||||
02/15/2025 | 3.625% | 237,000 | 228,519 | |
Shift4 Payments LLC/Finance Sub, Inc.(a) | ||||
11/01/2026 | 4.625% | 870,000 | 817,312 | |
Symantec Corp.(a) | ||||
04/15/2025 | 5.000% | 402,000 | 395,042 | |
Tempo Acquisition LLC/Finance Corp.(a) | ||||
06/01/2025 | 5.750% | 755,000 | 756,560 | |
Total | 16,497,737 | |||
Transportation Services 0.3% | ||||
ERAC USA Finance LLC(a) | ||||
11/01/2025 | 3.800% | 2,500,000 | 2,417,306 | |
Wireless 0.7% | ||||
Altice France SA(a) | ||||
02/01/2027 | 8.125% | 734,000 | 677,423 | |
American Tower Corp. | ||||
01/31/2028 | 1.500% | 2,500,000 | 2,128,078 | |
SBA Communications Corp. | ||||
02/15/2027 | 3.875% | 230,000 | 217,128 | |
Sprint Corp. | ||||
09/15/2023 | 7.875% | 548,000 | 552,459 | |
06/15/2024 | 7.125% | 207,000 | 210,647 | |
T-Mobile US, Inc. | ||||
04/15/2029 | 3.375% | 3,000,000 | 2,734,907 | |
Total | 6,520,642 | |||
Wirelines 0.6% | ||||
AT&T, Inc. | ||||
02/01/2028 | 1.650% | 2,250,000 | 1,975,783 | |
Front Range BidCo, Inc.(a) | ||||
03/01/2027 | 4.000% | 113,000 | 85,709 | |
Iliad Holding SAS(a) | ||||
10/15/2026 | 6.500% | 1,127,000 | 1,077,023 | |
Verizon Communications, Inc. | ||||
03/16/2027 | 4.125% | 2,000,000 | 1,983,735 | |
Total | 5,122,250 | |||
Total Corporate Bonds & Notes (Cost $320,399,460) | 308,583,597 | |||
Foreign Government Obligations(f) 0.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Canada 0.1% | ||||
NOVA Chemicals Corp.(a) | ||||
06/01/2024 | 4.875% | 240,000 | 236,248 | |
05/01/2025 | 5.000% | 105,000 | 100,217 | |
06/01/2027 | 5.250% | 504,000 | 459,433 | |
Total | 795,898 | |||
Morocco 0.0% | ||||
Morocco Government AID Bond(b),(g),(h) | ||||
6-month USD LIBOR + 0.000% 05/01/2023 | 5.250% | 42,500 | 42,446 | |
Total Foreign Government Obligations (Cost $913,447) | 838,344 | |||
Residential Mortgage-Backed Securities - Agency 0.7% | ||||
Federal Home Loan Mortgage Corp. | ||||
04/01/2023- 10/01/2024 | 4.500% | 2,966 | 2,973 | |
01/01/2024 | 5.000% | 1,637 | 1,650 | |
03/01/2025- 04/01/2026 | 4.000% | 5,378 | 5,353 | |
11/01/2025 | 3.500% | 1,034 | 1,017 | |
Federal Home Loan Mortgage Corp.(b) | ||||
1-year CMT + 2.219% Cap 9.386% 03/01/2034 | 4.344% | 94,919 | 92,877 | |
12-month USD LIBOR + 1.735% Cap 10.860% 07/01/2036 | 3.985% | 1,552 | 1,522 | |
12-month USD LIBOR + 1.708% Cap 11.198% 08/01/2036 | 3.825% | 21,504 | 21,701 | |
Federal National Mortgage Association | ||||
03/01/2024- 06/01/2026 | 4.000% | 6,031 | 6,010 | |
12/01/2025- 09/01/2026 | 3.500% | 19,478 | 19,119 | |
Federal National Mortgage Association(c) | ||||
CMO Series 2003-W11 Class A1 | ||||
06/25/2033 | 4.720% | 5,317 | 5,368 | |
Government National Mortgage Association(b) | ||||
1-year CMT + 1.500% Floor 1.000%, Cap 11.000% 03/20/2030 | 2.625% | 5,595 | 5,475 | |
Government National Mortgage Association | ||||
08/15/2037 | 7.500% | 11,113 | 11,143 | |
Uniform Mortgage-Backed Security TBA(i) | ||||
04/17/2038 | 4.000% | 7,000,000 | 6,888,985 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $7,114,168) | 7,063,193 | |||
Columbia Short Term Bond Fund | Annual Report 2023 | 17 |
March 31, 2023
Residential Mortgage-Backed Securities - Non-Agency 28.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
510 Asset Backed Trust(a),(c) | ||||
CMO Series 2021-NPL2 Class A1 | ||||
06/25/2061 | 2.116% | 3,696,764 | 3,332,188 | |
AMRESCO Residential Securities Corp. Mortgage Loan Trust(b) | ||||
CMO Series 1998-3 Class A7 | ||||
1-month USD LIBOR + 0.480% Floor 0.480% 07/25/2028 | 5.325% | 1,269 | 1,274 | |
Angel Oak Mortgage Trust(a),(c) | ||||
CMO Series 2020-6 Class A3 | ||||
05/25/2065 | 1.775% | 380,673 | 335,309 | |
CMO Series 2020-6 Class M1 | ||||
05/25/2065 | 2.805% | 1,225,000 | 945,510 | |
CMO Series 2021-8 Class A1 | ||||
11/25/2066 | 1.820% | 7,709,864 | 6,549,673 | |
Banc of America Funding Trust | ||||
CMO Series 2005-5 Class 2A1 | ||||
09/25/2035 | 5.500% | 79,778 | 77,673 | |
Banc of America Funding Trust(c) | ||||
CMO Series 2007-C Class 1A3 | ||||
05/20/2036 | 3.945% | 48,059 | 41,281 | |
Bellemeade Re Ltd.(a),(b) | ||||
CMO Series 2021-1A Class M1B | ||||
30-day Average SOFR + 2.200% Floor 2.200% 03/25/2031 | 6.760% | 3,000,000 | 2,969,753 | |
CMO Series 2022-1 Class M1B | ||||
30-day Average SOFR + 2.150% Floor 2.150% 01/26/2032 | 6.718% | 5,284,000 | 5,164,744 | |
BRAVO Residential Funding Trust(a),(c) | ||||
CMO Series 2020-NQM1 Class A1 | ||||
05/25/2060 | 1.449% | 552,366 | 516,495 | |
CMO Series 2021-NQM1 Class A1 | ||||
02/25/2049 | 0.941% | 3,421,024 | 3,020,912 | |
CFMT LLC(a),(c) | ||||
CMO Series 2021-EBO1 Class A | ||||
11/25/2050 | 0.985% | 2,341,239 | 2,205,985 | |
Chase Mortgage Finance Trust | ||||
CMO Series 2005-S2 Class A1 | ||||
10/25/2035 | 5.500% | 62,712 | 59,862 | |
CMO Series 2006-S4 Class A3 | ||||
12/25/2036 | 6.000% | 147,412 | 71,633 | |
CHNGE Mortgage Trust(a),(c) | ||||
CMO Series 2022-1 Class A1 | ||||
01/25/2067 | 3.007% | 6,713,705 | 6,235,767 | |
CMO Series 2022-NQM1 Class A1 | ||||
06/25/2067 | 5.528% | 2,267,684 | 2,222,534 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CIM Trust(a),(c) | ||||
CMO Series 2021-NR1 Class A1 | ||||
07/25/2055 | 2.569% | 2,060,070 | 1,960,361 | |
Credit Suisse Mortgage Trust(a),(c) | ||||
CMO Series 2021-AFC1 Class A1 | ||||
03/25/2056 | 0.830% | 1,746,977 | 1,346,532 | |
CMO Series 2021-RPL1 Class A1 | ||||
09/27/2060 | 1.668% | 4,258,225 | 4,060,172 | |
CMO Series 2022-JR1 Class A1 | ||||
10/25/2066 | 4.267% | 13,775,820 | 13,148,265 | |
CSMC Trust(a) | ||||
CMO Series 2019-AFC1 Class A1 | ||||
07/25/2049 | 2.573% | 1,271,754 | 1,167,778 | |
CSMC Trust(a),(c) | ||||
CMO Series 2021-RPL4 Class A1 | ||||
12/27/2060 | 1.796% | 3,167,466 | 2,901,638 | |
CMO Series 2022-NQM5 Class A1 | ||||
05/25/2067 | 5.169% | 3,921,782 | 3,937,194 | |
Subordinated CMO Series 2020-RPL3 Class A1 | ||||
03/25/2060 | 2.691% | 2,384,250 | 2,351,246 | |
Subordinated CMO Series 2020-RPL4 Class A1 | ||||
01/25/2060 | 2.000% | 5,856,989 | 5,099,376 | |
Deephaven Residential Mortgage Trust(a),(c) | ||||
CMO Series 2022-1 Class A1 | ||||
01/25/2067 | 2.205% | 15,823,924 | 13,865,829 | |
Eagle Re Ltd.(a),(b) | ||||
CMO Series 2021-2 Class M1B | ||||
30-day Average SOFR + 2.050% Floor 2.050% 04/25/2034 | 6.610% | 5,100,000 | 5,054,395 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2020-DNA1 Class M2 | ||||
1-month USD LIBOR + 1.700% 01/25/2050 | 6.545% | 541,252 | 538,503 | |
CMO Series 2021-DNA5 Class M2 | ||||
30-day Average SOFR + 1.650% 01/25/2034 | 6.210% | 1,292,083 | 1,264,626 | |
CMO Series 2021-HQA1 Class M1 | ||||
30-day Average SOFR + 0.700% 08/25/2033 | 5.260% | 15,614 | 15,608 | |
CMO Series 2021-HQA4 Class M1 | ||||
30-day Average SOFR + 0.950% 12/25/2041 | 5.510% | 3,231,410 | 3,112,679 | |
CMO Series 2022-DNA3 Class M1A | ||||
30-day Average SOFR + 2.000% 04/25/2042 | 6.560% | 7,652,018 | 7,651,975 | |
GCAT LLC(a),(c) | ||||
CMO Series 2020-3 Class A1 | ||||
09/25/2025 | 2.981% | 2,902,693 | 2,821,432 |
18 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
GCAT Trust(a),(c) | ||||
CMO Series 2021-CM2 Class A1 | ||||
08/25/2066 | 2.352% | 3,592,418 | 3,251,637 | |
CMO Series 2022-NQM4 Class A1 | ||||
08/25/2067 | 5.269% | 3,813,064 | 3,807,993 | |
Genworth Mortgage Insurance Corp.(a),(b) | ||||
CMO Series 2021-3 Class M1A | ||||
30-day Average SOFR + 1.900% Floor 1.900% 02/25/2034 | 6.384% | 6,826,590 | 6,787,202 | |
GS Mortgage-Backed Securities Trust(a),(c) | ||||
CMO Series 2020-NQM1 Class A1 | ||||
09/27/2060 | 1.382% | 1,090,206 | 987,162 | |
Home Re Ltd.(a),(b) | ||||
CMO Series 2021-1 Class M1B | ||||
1-month USD LIBOR + 1.550% 07/25/2033 | 6.395% | 1,715,115 | 1,712,131 | |
Homeward Opportunities Fund Trust(a),(e) | ||||
CMO Series 2020-BPL1 Class A1 | ||||
08/25/2025 | 3.228% | 656,433 | 645,615 | |
CMO Series 2022-1 Class A1 | ||||
07/25/2067 | 5.055% | 6,654,723 | 6,590,846 | |
Imperial Fund Mortgage Trust(a),(c) | ||||
CMO Series 2021-NQM2 Class A3 | ||||
09/25/2056 | 1.516% | 2,596,922 | 2,052,276 | |
JPMorgan Mortgage Trust | ||||
CMO Series 2005-S3 Class 2A2 | ||||
07/25/2023 | 5.500% | 7,196 | 5,280 | |
JPMorgan Mortgage Trust(c) | ||||
CMO Series 2007-A2 Class 3A1 | ||||
04/25/2037 | 3.722% | 4,640 | 3,683 | |
Legacy Mortgage Asset Trust(a),(c) | ||||
CMO Series 2021-GS1 Class A1 | ||||
10/25/2066 | 1.892% | 3,043,988 | 2,807,344 | |
CMO Series 2021-GS2 Class A1 | ||||
04/25/2061 | 1.750% | 5,780,698 | 5,394,997 | |
MFA Trust(a),(c) | ||||
CMO Series 2020-NQM1 Class A1 | ||||
03/25/2065 | 1.479% | 1,028,449 | 936,537 | |
CMO Series 2023-INV1 Class A1 | ||||
02/25/2058 | 5.920% | 5,831,385 | 5,847,189 | |
Morgan Stanley Mortgage Loan Trust(c) | ||||
CMO Series 2004-10AR Class 2A2 | ||||
11/25/2034 | 4.830% | 37,213 | 34,392 | |
New Residential Mortgage Loan Trust(a),(c) | ||||
CMO Series 2019-NQM4 Class A2 | ||||
09/25/2059 | 2.644% | 1,370,502 | 1,253,162 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 1,120,720 | 1,046,081 | |
Oaktown Re VI Ltd.(a),(b) | ||||
CMO Series 2021-1A Class M1A | ||||
30-day Average SOFR + 1.650% Floor 1.650% 10/25/2033 | 6.210% | 352,719 | 352,212 | |
OBX Trust(a),(c) | ||||
CMO Series 2019-EXP2 Class 1A3 | ||||
06/25/2059 | 4.000% | 468,426 | 435,855 | |
OBX Trust(a),(e) | ||||
CMO Series 2022-NQM7 Class A1 | ||||
08/25/2062 | 5.110% | 4,654,738 | 4,612,081 | |
Oceanview Mortgage Loan Trust(a) | ||||
CMO Series 2020-1 Class A1A | ||||
05/28/2050 | 1.733% | 884,232 | 791,948 | |
Preston Ridge Partners Mortgage(a),(c) | ||||
CMO Series 2021-4 Class A1 | ||||
04/25/2026 | 1.867% | 6,548,432 | 6,232,839 | |
Preston Ridge Partners Mortgage Trust(a),(c) | ||||
CMO Series 2021-10 Class A1 | ||||
10/25/2026 | 2.487% | 3,600,669 | 3,319,338 | |
CMO Series 2021-2 Class A1 | ||||
03/25/2026 | 2.115% | 2,030,397 | 1,925,572 | |
CMO Series 2021-3 Class A1 | ||||
04/25/2026 | 1.867% | 3,384,931 | 3,145,167 | |
CMO Series 2021-9 Class A1 | ||||
10/25/2026 | 2.363% | 5,944,080 | 5,612,220 | |
Pretium Mortgage Credit Partners I LLC(a),(c) | ||||
CMO Series 2021-NPL1 Class A1 | ||||
09/27/2060 | 2.240% | 1,719,889 | 1,632,020 | |
CMO Series 2021-NPL2 Class A1 | ||||
06/27/2060 | 1.992% | 1,731,057 | 1,613,939 | |
Pretium Mortgage Credit Partners LLC(a),(c) | ||||
CMO Series 2021-NPL3 Class A1 | ||||
07/25/2051 | 1.868% | 8,498,280 | 7,909,586 | |
CMO Series 2021-NPL6 Class A1 | ||||
07/25/2051 | 2.487% | 8,758,723 | 8,244,823 | |
PRKCM Trust(a),(c) | ||||
CMO Series 2021-AFC2 Class A1 | ||||
11/25/2056 | 2.071% | 13,050,387 | 11,040,436 | |
PRPM LLC(a),(c) | ||||
CMO Series 2021-RPL1 Class A1 | ||||
07/25/2051 | 1.319% | 1,700,129 | 1,493,377 | |
PRPM Trust(a),(c) | ||||
CMO Series 2023-NQM1 Class A1 | ||||
01/25/2068 | 6.234% | 2,560,871 | 2,571,833 |
Columbia Short Term Bond Fund | Annual Report 2023 | 19 |
March 31, 2023
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Sequoia Mortgage Trust(a),(c) | ||||
CMO Series 2016-3 Class A1 | ||||
11/25/2046 | 3.500% | 645,865 | 578,043 | |
Starwood Mortgage Residential Trust(a),(c) | ||||
CMO Series 2019-INV1 Class A3 | ||||
09/27/2049 | 2.916% | 1,735,297 | 1,648,469 | |
CMO Series 2020-INV1 Class A3 | ||||
11/25/2055 | 1.593% | 417,617 | 377,159 | |
Towd Point HE Trust(a),(c) | ||||
CMO Series 2021-HE1 Class M2 | ||||
02/25/2063 | 2.500% | 1,150,000 | 1,008,748 | |
Towd Point Mortgage Trust(a),(c) | ||||
CMO Series 2021-SJ2 Class A1A | ||||
12/25/2061 | 2.250% | 4,850,282 | 4,436,985 | |
VCAT Asset Securitization LLC(a),(c) | ||||
CMO Series 2021-NPL6 Class A1 | ||||
09/25/2051 | 1.917% | 2,254,413 | 2,085,615 | |
VCAT LLC(a),(c) | ||||
CMO Series 2021-NPL1 Class A1 | ||||
12/26/2050 | 2.289% | 376,174 | 357,819 | |
Vericrest Opportunity Loan Transferee(a),(c) | ||||
CMO Series 2021-NPL4 Class A1 | ||||
03/27/2051 | 2.240% | 3,721,790 | 3,500,616 | |
Vericrest Opportunity Loan Transferee XCVI LLC(a),(c) | ||||
CMO Series 2021-NPL5 Class A1 | ||||
03/27/2051 | 2.116% | 2,292,461 | 2,153,051 | |
Vericrest Opportunity Loan Transferee XCVII LLC(a),(c) | ||||
CMO Series 2021-NPL6 Class A1 | ||||
04/25/2051 | 2.240% | 9,344,117 | 8,585,381 | |
Vericrest Opportunity Loan Trust CI LLC(a),(c) | ||||
CMO Series 2021-NP10 Class A1 | ||||
05/25/2051 | 1.992% | 7,434,490 | 6,771,100 | |
Verus Securitization Trust(a),(c) | ||||
CMO Series 2019-4 Class A3 | ||||
11/25/2059 | 3.000% | 1,719,247 | 1,632,956 | |
CMO Series 2020-2 Class A1 | ||||
05/25/2060 | 2.226% | 323,280 | 311,479 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2021-8 Class A3 | ||||
11/25/2066 | 2.491% | 8,720,560 | 7,347,573 | |
CMO Series 2022-INV1 Class A1 | ||||
08/25/2067 | 5.041% | 3,347,313 | 3,296,239 | |
CMO Series 2023-INV1 Class A1 | ||||
02/25/2068 | 5.999% | 9,939,072 | 9,984,274 | |
Visio Trust(a),(c) | ||||
CMO Series 2019-2 Class A3 | ||||
11/25/2054 | 3.076% | 977,949 | 914,931 | |
Visio Trust(a) | ||||
Series 2020-1R Class A1 | ||||
11/25/2055 | 1.312% | 4,078,769 | 3,730,020 | |
Wells Fargo Mortgage-Backed Securities Trust(c) | ||||
CMO Series 2006-AR19 Class A1 | ||||
12/25/2036 | 4.564% | 62,814 | 58,853 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $286,505,909) | 266,924,286 | |||
U.S. Treasury Obligations 1.0% | ||||
U.S. Treasury | ||||
01/15/2024 | 0.125% | 9,775,000 | 9,429,057 | |
Total U.S. Treasury Obligations (Cost $9,427,470) | 9,429,057 |
Money Market Funds 1.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 4.983%(j),(k) | 14,433,178 | 14,430,292 |
Total Money Market Funds (Cost $14,429,704) | 14,430,292 | |
Total Investments in Securities (Cost: $980,459,047) | 935,927,676 | |
Other Assets & Liabilities, Net | (380,163) | |
Net Assets | 935,547,513 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 2-Year Note | 1,275 | 06/2023 | USD | 263,227,736 | 2,543,883 | — |
20 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 5-Year Note | (80) | 06/2023 | USD | (8,760,625) | 15,040 | — |
U.S. Treasury 5-Year Note | (830) | 06/2023 | USD | (90,891,485) | — | (1,919,150) |
Total | 15,040 | (1,919,150) |
(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 March 31, 2023, the total value of these securities amounted to $684,202,170, which represents 73.13% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of March 31, 2023. |
(c) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of March 31, 2023. |
(d) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(e) | 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 March 31, 2023. |
(f) | Principal and interest may not be guaranteed by a governmental entity. |
(g) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At March 31, 2023, the total value of these securities amounted to $42,446, which represents less than 0.01% of total net assets. |
(h) | Valuation based on significant unobservable inputs. |
(i) | Represents a security purchased on a when-issued basis. |
(j) | The rate shown is the seven-day current annualized yield at March 31, 2023. |
(k) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended March 31, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 4.983% | ||||||||
39,477,150 | 378,212,381 | (403,259,811) | 572 | 14,430,292 | 2,679 | 421,695 | 14,433,178 |
AID | Agency for International Development |
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
TBA | To Be Announced |
USD | US Dollar |
Columbia Short Term Bond Fund | Annual Report 2023 | 21 |
March 31, 2023
■ | 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 | ||||
Asset-Backed Securities — Non-Agency | — | 206,433,503 | — | 206,433,503 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 122,225,404 | — | 122,225,404 |
Corporate Bonds & Notes | — | 308,583,597 | — | 308,583,597 |
Foreign Government Obligations | — | 795,898 | 42,446 | 838,344 |
Residential Mortgage-Backed Securities - Agency | — | 7,063,193 | — | 7,063,193 |
Residential Mortgage-Backed Securities - Non-Agency | — | 266,924,286 | — | 266,924,286 |
U.S. Treasury Obligations | — | 9,429,057 | — | 9,429,057 |
Money Market Funds | 14,430,292 | — | — | 14,430,292 |
Total Investments in Securities | 14,430,292 | 921,454,938 | 42,446 | 935,927,676 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 2,558,923 | — | — | 2,558,923 |
Liability | ||||
Futures Contracts | (1,919,150) | — | — | (1,919,150) |
Total | 15,070,065 | 921,454,938 | 42,446 | 936,567,449 |
22 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
The following table is a reconciliation of Level 3 assets for which significant observable and unobservable inputs were used to determine fair value:
Balance as of 03/31/2022 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 03/31/2023 ($) | |
Asset-Backed Securities — Non-Agency | 11,798,369 | — | — | — | — | — | — | (11,798,369) | — |
Foreign Government Obligations | 126,225 | — | 1,475 | (254) | — | (85,000) | — | — | 42,446 |
Residential Mortgage-Backed Securities — Non-Agency | 19,365,517 | — | — | — | — | — | — | (19,365,517) | — |
Total | 31,290,111 | — | 1,475 | (254) | — | (85,000) | — | (31,163,886) | 42,446 |
Columbia Short Term Bond Fund | Annual Report 2023 | 23 |
March 31, 2023
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $966,029,343) | $921,497,384 |
Affiliated issuers (cost $14,429,704) | 14,430,292 |
Cash | 5 |
Margin deposits on: | |
Futures contracts | 1,863,917 |
Receivable for: | |
Investments sold | 2,579,830 |
Capital shares sold | 2,893,224 |
Dividends | 51,259 |
Interest | 5,370,573 |
Foreign tax reclaims | 991 |
Variation margin for futures contracts | 179,298 |
Expense reimbursement due from Investment Manager | 3,175 |
Prepaid expenses | 9,363 |
Total assets | 948,879,311 |
Liabilities | |
Payable for: | |
Investments purchased | 190,611 |
Investments purchased on a delayed delivery basis | 6,949,554 |
Capital shares purchased | 2,398,950 |
Distributions to shareholders | 3,212,354 |
Variation margin for futures contracts | 206,172 |
Management services fees | 10,969 |
Distribution and/or service fees | 1,691 |
Transfer agent fees | 58,904 |
Compensation of board members | 253,439 |
Other expenses | 49,154 |
Total liabilities | 13,331,798 |
Net assets applicable to outstanding capital stock | $935,547,513 |
Represented by | |
Paid in capital | 1,009,971,029 |
Total distributable earnings (loss) | (74,423,516) |
Total - representing net assets applicable to outstanding capital stock | $935,547,513 |
24 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Class A | |
Net assets | $212,799,813 |
Shares outstanding | 22,464,303 |
Net asset value per share | $9.47 |
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) | $9.57 |
Advisor Class | |
Net assets | $40,585,190 |
Shares outstanding | 4,290,476 |
Net asset value per share | $9.46 |
Class C | |
Net assets | $10,269,789 |
Shares outstanding | 1,086,685 |
Net asset value per share | $9.45 |
Institutional Class | |
Net assets | $187,176,347 |
Shares outstanding | 19,785,879 |
Net asset value per share | $9.46 |
Institutional 2 Class | |
Net assets | $21,878,930 |
Shares outstanding | 2,316,121 |
Net asset value per share | $9.45 |
Institutional 3 Class | |
Net assets | $461,623,161 |
Shares outstanding | 48,825,045 |
Net asset value per share | $9.45 |
Class R | |
Net assets | $1,214,283 |
Shares outstanding | 128,211 |
Net asset value per share | $9.47 |
Columbia Short Term Bond Fund | Annual Report 2023 | 25 |
Year Ended March 31, 2023
Net investment income | |
Income: | |
Dividends — affiliated issuers | $421,695 |
Interest | 34,166,739 |
Interfund lending | 1,289 |
Total income | 34,589,723 |
Expenses: | |
Management services fees | 4,483,284 |
Distribution and/or service fees | |
Class A | 546,679 |
Class C | 96,402 |
Class R | 5,723 |
Transfer agent fees | |
Class A | 298,796 |
Advisor Class | 69,467 |
Class C | 16,465 |
Institutional Class | 260,979 |
Institutional 2 Class | 11,102 |
Institutional 3 Class | 35,052 |
Class R | 1,564 |
Compensation of board members | 14,319 |
Custodian fees | 20,712 |
Printing and postage fees | 57,272 |
Registration fees | 123,323 |
Accounting services fees | 44,290 |
Legal fees | 27,763 |
Compensation of chief compliance officer | 181 |
Other | 26,974 |
Total expenses | 6,140,347 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,280,122) |
Fees waived by transfer agent | |
Institutional 2 Class | (1,322) |
Institutional 3 Class | (35,052) |
Expense reduction | (1,398) |
Total net expenses | 4,822,453 |
Net investment income | 29,767,270 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (19,598,607) |
Investments — affiliated issuers | 2,679 |
Futures contracts | (4,001,658) |
Net realized loss | (23,597,586) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (11,951,250) |
Investments — affiliated issuers | 572 |
Futures contracts | 449,634 |
Net change in unrealized appreciation (depreciation) | (11,501,044) |
Net realized and unrealized loss | (35,098,630) |
Net decrease in net assets resulting from operations | $(5,331,360) |
26 | Columbia Short Term Bond Fund | Annual Report 2023 |
Year Ended March 31, 2023 | Year Ended March 31, 2022 | |
Operations | ||
Net investment income | $29,767,270 | $17,633,291 |
Net realized loss | (23,597,586) | (5,230,316) |
Net change in unrealized appreciation (depreciation) | (11,501,044) | (39,021,111) |
Net decrease in net assets resulting from operations | (5,331,360) | (26,618,136) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (5,640,936) | (3,058,635) |
Advisor Class | (1,392,720) | (536,374) |
Class C | (237,899) | (103,583) |
Institutional Class | (5,380,133) | (3,002,264) |
Institutional 2 Class | (558,766) | (213,343) |
Institutional 3 Class | (16,057,156) | (11,296,305) |
Class R | (27,079) | (11,880) |
Total distributions to shareholders | (29,294,689) | (18,222,384) |
Increase (decrease) in net assets from capital stock activity | (260,425,518) | 260,270,941 |
Total increase (decrease) in net assets | (295,051,567) | 215,430,421 |
Net assets at beginning of year | 1,230,599,080 | 1,015,168,659 |
Net assets at end of year | $935,547,513 | $1,230,599,080 |
Columbia Short Term Bond Fund | Annual Report 2023 | 27 |
Year Ended | Year Ended | |||
March 31, 2023 | March 31, 2022 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 5,346,913 | 50,626,672 | 7,009,597 | 70,531,581 |
Fund reorganization | — | — | 831,856 | 8,347,044 |
Distributions reinvested | 547,091 | 5,167,767 | 277,921 | 2,790,974 |
Redemptions | (7,311,267) | (69,275,307) | (8,036,456) | (80,779,228) |
Net increase (decrease) | (1,417,263) | (13,480,868) | 82,918 | 890,371 |
Advisor Class | ||||
Subscriptions | 966,576 | 9,108,579 | 793,803 | 7,830,705 |
Fund reorganization | — | — | 14,249,815 | 142,792,034 |
Distributions reinvested | 91,815 | 866,267 | 31,761 | 315,733 |
Redemptions | (3,856,273) | (36,685,755) | (8,720,941) | (86,630,637) |
Net increase (decrease) | (2,797,882) | (26,710,909) | 6,354,438 | 64,307,835 |
Class C | ||||
Subscriptions | 594,842 | 5,635,677 | 497,668 | 4,981,622 |
Distributions reinvested | 24,643 | 232,066 | 9,984 | 100,074 |
Redemptions | (893,344) | (8,449,569) | (831,055) | (8,339,484) |
Net decrease | (273,859) | (2,581,826) | (323,403) | (3,257,788) |
Institutional Class | ||||
Subscriptions | 7,629,513 | 72,315,387 | 9,783,107 | 98,047,807 |
Distributions reinvested | 484,176 | 4,567,393 | 247,662 | 2,484,197 |
Redemptions | (8,725,765) | (82,551,906) | (8,434,386) | (84,616,608) |
Net increase (decrease) | (612,076) | (5,669,126) | 1,596,383 | 15,915,396 |
Institutional 2 Class | ||||
Subscriptions | 1,075,507 | 10,121,264 | 1,921,833 | 18,932,311 |
Distributions reinvested | 59,227 | 558,742 | 21,348 | 213,343 |
Redemptions | (1,570,307) | (14,854,347) | (363,401) | (3,644,584) |
Net increase (decrease) | (435,573) | (4,174,341) | 1,579,780 | 15,501,070 |
Institutional 3 Class | ||||
Subscriptions | 19,241,095 | 181,647,534 | 30,010,234 | 302,086,959 |
Distributions reinvested | 614,422 | 5,797,426 | 474,388 | 4,753,762 |
Redemptions | (41,808,162) | (395,344,994) | (13,972,340) | (139,908,670) |
Net increase (decrease) | (21,952,645) | (207,900,034) | 16,512,282 | 166,932,051 |
Class R | ||||
Subscriptions | 82,097 | 791,081 | 15,668 | 157,816 |
Distributions reinvested | 2,649 | 25,002 | 1,056 | 10,605 |
Redemptions | (75,109) | (724,497) | (18,433) | (186,415) |
Net increase (decrease) | 9,637 | 91,586 | (1,709) | (17,994) |
Total net increase (decrease) | (27,479,661) | (260,425,518) | 25,800,689 | 260,270,941 |
28 | Columbia Short Term Bond Fund | Annual Report 2023 |
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 3/31/2023 | $9.75 | 0.25 | (0.28) | (0.03) | (0.25) | (0.25) |
Year Ended 3/31/2022 | $10.11 | 0.12 | (0.35) | (0.23) | (0.13) | (0.13) |
Year Ended 3/31/2021 | $9.37 | 0.18 | 0.73 | 0.91 | (0.17) | (0.17) |
Year Ended 3/31/2020 | $9.98 | 0.26 | (0.54) | (0.28) | (0.33) | (0.33) |
Year Ended 3/31/2019 | $9.88 | 0.20 | 0.05 | 0.25 | (0.15) | (0.15) |
Advisor Class | ||||||
Year Ended 3/31/2023 | $9.74 | 0.26 | (0.27) | (0.01) | (0.27) | (0.27) |
Year Ended 3/31/2022 | $10.10 | 0.14 | (0.35) | (0.21) | (0.15) | (0.15) |
Year Ended 3/31/2021 | $9.36 | 0.20 | 0.74 | 0.94 | (0.20) | (0.20) |
Year Ended 3/31/2020 | $9.96 | 0.29 | (0.53) | (0.24) | (0.36) | (0.36) |
Year Ended 3/31/2019 | $9.87 | 0.23 | 0.03 | 0.26 | (0.17) | (0.17) |
Class C | ||||||
Year Ended 3/31/2023 | $9.73 | 0.19 | (0.28) | (0.09) | (0.19) | (0.19) |
Year Ended 3/31/2022 | $10.08 | 0.07 | (0.35) | (0.28) | (0.07) | (0.07) |
Year Ended 3/31/2021 | $9.35 | 0.12 | 0.72 | 0.84 | (0.11) | (0.11) |
Year Ended 3/31/2020 | $9.96 | 0.20 | (0.54) | (0.34) | (0.27) | (0.27) |
Year Ended 3/31/2019 | $9.86 | 0.14 | 0.05 | 0.19 | (0.09) | (0.09) |
Institutional Class | ||||||
Year Ended 3/31/2023 | $9.74 | 0.27 | (0.28) | (0.01) | (0.27) | (0.27) |
Year Ended 3/31/2022 | $10.09 | 0.15 | (0.35) | (0.20) | (0.15) | (0.15) |
Year Ended 3/31/2021 | $9.36 | 0.20 | 0.73 | 0.93 | (0.20) | (0.20) |
Year Ended 3/31/2020 | $9.96 | 0.29 | (0.53) | (0.24) | (0.36) | (0.36) |
Year Ended 3/31/2019 | $9.86 | 0.24 | 0.03 | 0.27 | (0.17) | (0.17) |
Institutional 2 Class | ||||||
Year Ended 3/31/2023 | $9.73 | 0.27 | (0.27) | 0.00 | (0.28) | (0.28) |
Year Ended 3/31/2022 | $10.08 | 0.16 | (0.35) | (0.19) | (0.16) | (0.16) |
Year Ended 3/31/2021 | $9.35 | 0.21 | 0.72 | 0.93 | (0.20) | (0.20) |
Year Ended 3/31/2020 | $9.95 | 0.29 | (0.52) | (0.23) | (0.37) | (0.37) |
Year Ended 3/31/2019 | $9.85 | 0.22 | 0.06 | 0.28 | (0.18) | (0.18) |
30 | Columbia Short Term Bond Fund | Annual Report 2023 |
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 3/31/2023 | $9.47 | (0.31%) | 0.84% | 0.72%(c) | 2.61% | 35% | $212,800 |
Year Ended 3/31/2022 | $9.75 | (2.33%) | 0.84% | 0.74%(c) | 1.22% | 96% | $232,895 |
Year Ended 3/31/2021 | $10.11 | 9.77% | 0.85% | 0.77%(c) | 1.77% | 173% | $240,561 |
Year Ended 3/31/2020 | $9.37 | (2.94%) | 0.85% | 0.78%(c) | 2.61% | 169% | $216,266 |
Year Ended 3/31/2019 | $9.98 | 2.55% | 0.86% | 0.80%(c) | 2.02% | 154% | $226,907 |
Advisor Class | |||||||
Year Ended 3/31/2023 | $9.46 | (0.07%) | 0.59% | 0.47%(c) | 2.79% | 35% | $40,585 |
Year Ended 3/31/2022 | $9.74 | (2.09%) | 0.59% | 0.49%(c) | 1.43% | 96% | $69,029 |
Year Ended 3/31/2021 | $10.10 | 10.06% | 0.60% | 0.52%(c) | 2.03% | 173% | $7,409 |
Year Ended 3/31/2020 | $9.36 | (2.60%) | 0.60% | 0.53%(c) | 2.87% | 169% | $7,103 |
Year Ended 3/31/2019 | $9.96 | 2.71% | 0.61% | 0.55%(c) | 2.30% | 154% | $7,344 |
Class C | |||||||
Year Ended 3/31/2023 | $9.45 | (0.86%) | 1.39% | 1.27%(c) | 2.02% | 35% | $10,270 |
Year Ended 3/31/2022 | $9.73 | (2.77%) | 1.46% | 1.29%(c) | 0.68% | 96% | $13,238 |
Year Ended 3/31/2021 | $10.08 | 9.06% | 1.60% | 1.34%(c),(d) | 1.22% | 173% | $16,981 |
Year Ended 3/31/2020 | $9.35 | (3.53%) | 1.60% | 1.38%(c),(d) | 2.02% | 169% | $21,157 |
Year Ended 3/31/2019 | $9.96 | 1.94% | 1.61% | 1.40%(c),(d) | 1.38% | 154% | $27,118 |
Institutional Class | |||||||
Year Ended 3/31/2023 | $9.46 | (0.07%) | 0.59% | 0.47%(c) | 2.86% | 35% | $187,176 |
Year Ended 3/31/2022 | $9.74 | (1.99%) | 0.59% | 0.49%(c) | 1.47% | 96% | $198,640 |
Year Ended 3/31/2021 | $10.09 | 9.95% | 0.60% | 0.52%(c) | 2.03% | 173% | $189,774 |
Year Ended 3/31/2020 | $9.36 | (2.60%) | 0.60% | 0.53%(c) | 2.87% | 169% | $167,429 |
Year Ended 3/31/2019 | $9.96 | 2.81% | 0.61% | 0.55%(c) | 2.40% | 154% | $303,373 |
Institutional 2 Class | |||||||
Year Ended 3/31/2023 | $9.45 | 0.01% | 0.51% | 0.39% | 2.88% | 35% | $21,879 |
Year Ended 3/31/2022 | $9.73 | (1.92%) | 0.52% | 0.42% | 1.57% | 96% | $26,761 |
Year Ended 3/31/2021 | $10.08 | 10.04% | 0.52% | 0.44% | 2.08% | 173% | $11,814 |
Year Ended 3/31/2020 | $9.35 | (2.52%) | 0.51% | 0.44% | 2.94% | 169% | $22,420 |
Year Ended 3/31/2019 | $9.95 | 2.91% | 0.51% | 0.46% | 2.27% | 154% | $18,228 |
Columbia Short Term Bond Fund | Annual Report 2023 | 31 |
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 3/31/2023 | $9.73 | 0.28 | (0.28) | 0.00 | (0.28) | (0.28) |
Year Ended 3/31/2022 | $10.09 | 0.16 | (0.35) | (0.19) | (0.17) | (0.17) |
Year Ended 3/31/2021 | $9.36 | 0.21 | 0.73 | 0.94 | (0.21) | (0.21) |
Year Ended 3/31/2020 | $9.96 | 0.30 | (0.53) | (0.23) | (0.37) | (0.37) |
Year Ended 3/31/2019 | $9.86 | 0.24 | 0.05 | 0.29 | (0.19) | (0.19) |
Class R | ||||||
Year Ended 3/31/2023 | $9.75 | 0.23 | (0.29) | (0.06) | (0.22) | (0.22) |
Year Ended 3/31/2022 | $10.11 | 0.10 | (0.36) | (0.26) | (0.10) | (0.10) |
Year Ended 3/31/2021 | $9.37 | 0.15 | 0.74 | 0.89 | (0.15) | (0.15) |
Year Ended 3/31/2020 | $9.98 | 0.24 | (0.54) | (0.30) | (0.31) | (0.31) |
Year Ended 3/31/2019 | $9.88 | 0.18 | 0.05 | 0.23 | (0.13) | (0.13) |
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 the impact of voluntary waivers paid by the Investment Manager. For the periods indicated below, if the Investment Manager had not paid these voluntary waivers, the Fund’s net expense ratio would increase by: |
3/31/2021 | 3/31/2020 | 3/31/2019 | |
Class C | 0.06% | 0.15% | 0.15% |
32 | Columbia Short Term Bond Fund | Annual Report 2023 |
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 3/31/2023 | $9.45 | 0.06% | 0.46% | 0.34% | 2.93% | 35% | $461,623 |
Year Ended 3/31/2022 | $9.73 | (1.97%) | 0.46% | 0.37% | 1.60% | 96% | $688,879 |
Year Ended 3/31/2021 | $10.09 | 10.09% | 0.47% | 0.39% | 2.16% | 173% | $547,413 |
Year Ended 3/31/2020 | $9.36 | (2.47%) | 0.46% | 0.39% | 3.00% | 169% | $514,116 |
Year Ended 3/31/2019 | $9.96 | 2.96% | 0.46% | 0.41% | 2.41% | 154% | $717,896 |
Class R | |||||||
Year Ended 3/31/2023 | $9.47 | (0.56%) | 1.09% | 0.97%(c) | 2.39% | 35% | $1,214 |
Year Ended 3/31/2022 | $9.75 | (2.57%) | 1.09% | 0.99%(c) | 0.98% | 96% | $1,156 |
Year Ended 3/31/2021 | $10.11 | 9.50% | 1.10% | 1.02%(c) | 1.54% | 173% | $1,216 |
Year Ended 3/31/2020 | $9.37 | (3.18%) | 1.10% | 1.03%(c) | 2.37% | 169% | $1,966 |
Year Ended 3/31/2019 | $9.98 | 2.30% | 1.11% | 1.05%(c) | 1.78% | 154% | $2,549 |
Columbia Short Term Bond Fund | Annual Report 2023 | 33 |
March 31, 2023
34 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Columbia Short Term Bond Fund | Annual Report 2023 | 35 |
March 31, 2023
36 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 2,558,923* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 1,919,150* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (4,001,658) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 449,634 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 304,591,545 |
Futures contracts — short | 119,274,014 |
* | Based on the ending quarterly outstanding amounts for the year ended March 31, 2023. |
Columbia Short Term Bond Fund | Annual Report 2023 | 37 |
March 31, 2023
38 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Columbia Short Term Bond Fund | Annual Report 2023 | 39 |
March 31, 2023
Effective rate (%) | |
Class A | 0.14 |
Advisor Class | 0.14 |
Class C | 0.14 |
Institutional Class | 0.14 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.14 |
40 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 1.00 | 0.50 - 1.00(a) | 147,462 |
Class C | — | 1.00(b) | 2,827 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
August 1, 2022 through July 31, 2023 | Prior to August 1, 2022 | |
Class A | 0.71% | 0.74% |
Advisor Class | 0.46 | 0.49 |
Class C | 1.26 | 1.29 |
Institutional Class | 0.46 | 0.49 |
Institutional 2 Class | 0.37 | 0.42 |
Institutional 3 Class | 0.32 | 0.37 |
Class R | 0.96 | 0.99 |
Columbia Short Term Bond Fund | Annual Report 2023 | 41 |
March 31, 2023
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
325,483 | (325,483) | — |
Year Ended March 31, 2023 | Year Ended March 31, 2022 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
29,294,689 | — | 29,294,689 | 18,222,384 | — | 18,222,384 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
4,178,267 | — | (28,510,028) | (46,628,414) |
42 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
983,195,863 | 304,439 | (46,932,853) | (46,628,414) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(11,726,371) | (16,783,657) | (28,510,028) | — |
Columbia Short Term Bond Fund | Annual Report 2023 | 43 |
March 31, 2023
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 4,550,000 | 5.10 | 2 |
Shares | |
Class A | 831,856 |
Advisor Class | 14,249,815 |
44 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
($) | |
Net investment income | 19,499,000 |
Net realized loss | (3,585,000) |
Net change in unrealized appreciation/(depreciation) | (43,503,000) |
Net decrease in net assets from operations | (27,589,000) |
Columbia Short Term Bond Fund | Annual Report 2023 | 45 |
March 31, 2023
46 | Columbia Short Term Bond Fund | Annual Report 2023 |
March 31, 2023
Columbia Short Term Bond Fund | Annual Report 2023 | 47 |
48 | Columbia Short Term Bond Fund | Annual Report 2023 |
Section 163(j) Interest Dividends | |
99.88% |
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 and other relevant Board experience |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 177 | 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; former Board Member, Chase Bank International, 1993-1994 |
Columbia Short Term Bond Fund | Annual Report 2023 | 49 |
(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 and other relevant Board experience |
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-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018, April-October 2021 | 177 | 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, Richard M. Schulze Family Foundation, since 2021 |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Chair since 2023; 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 | 177 | Trustee, New York Presbyterian Hospital Board, since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee), since 2019; Director, Apollo Commercial Real Estate Finance, Inc. (Chair, Nominating and Governance Committee) (financial services), 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 | 175 | Director, EQT Corporation (natural gas producer), since 2019; former Director, Whiting Petroleum Corporation (independent oil and gas company), 2020-2022 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020 | CEO and President, RhodeWay Financial (non-profit financial planning firm), since December 2022; 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 | 175 | 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 (former mutual fund complex), January 2015-December 2017 |
50 | Columbia Short Term Bond Fund | Annual Report 2023 |
(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 and other relevant Board experience |
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 | 175 | Treasurer, Edinburgh University US Trust Board, since January 2023; Member, HBS Community Action Partners Board, since September 2022; former Director, University of Edinburgh Business School (Member of US Board), 2004-2019; former Director, Boston Public Library Foundation, 2008-2017 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Professor of Economics and Management, Bentley University, since 2002; Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 177 | Former Trustee, MA Taxpayers Foundation, 1997-2022; former Director, The MA Business Roundtable, 2003-2019; former Chairperson, Innovation Index Advisory Committee, MA Technology Collaborative, 1997-2020 |
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 | 177 | Trustee, Catholic Schools Foundation, since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Trustee since 1996 | 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 | 177 | Director, SpartanNash Company (Chair of the Board) (food distributor), since May 2021; Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing), since August 2006; 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 | 175 | None |
Columbia Short Term Bond Fund | Annual Report 2023 | 51 |
(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 and other relevant Board experience |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; former Chief Executive Officer of Freddie Mac and Chief Financial Officer of U.S. Bank | 175 | Director, CSX Corporation (transportation suppliers); 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; former Senior Adviser to The Carlyle Group (financial services), March 2008-September 2008; former Governance Consultant to Bridgewater Associates, January 2013-December 2015 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2004 | 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. | 177 | Director, Valmont Industries, Inc. (irrigation systems manufacturer), since 2012; Trustee, Carleton College (on the Investment Committee), since 1987; Trustee, Carnegie Endowment for International Peace (on the Investment Committee), since 2009 |
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 2022; Advisor, Paradigm Asset Management, November 2016-January 2022; 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 | 175 | Independent Director, Investment Committee, Health Services for Children with Special Needs, Inc., 2010-2021; Independent Director, (Executive Committee and Chair, Audit Committee), Consumer Credit Counseling Services (formerly Guidewell Financial Solutions), since 2016; Independent Director, (Investment Committee), Sarona Asset Management, since 2019 |
52 | Columbia Short Term Bond Fund | Annual Report 2023 |
(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 and other relevant Board experience |
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 | 177 | Former Director, NAPE (National Alliance for Partnerships in Equity) Education Foundation, October 2016-October 2020; Advisory Board, Jennersville YMCA, since 2022 |
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 and other relevant Board experience |
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 | 177 | 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; Director, Columbia Threadneedle Canada, Inc., since December 2022 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Funds 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, Carrig, Flynn, Paglia and Yeager serve as Directors of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
** | 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 Short Term Bond Fund | Annual Report 2023 | 53 |
(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. |
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. |
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); formerly, 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; formerly, 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. |
54 | Columbia Short Term Bond Fund | Annual Report 2023 |
(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) | Vice President, Global Investment Operations Services, Columbia Management Investment Advisers, LLC, since 2010; President, Columbia Management Investment Services Corp., since October 2014; President, Ameriprise Trust Company, since January 2017. |
• | 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 Short Term Bond Fund | Annual Report 2023 | 55 |
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, Sandra L. Yeager, and Douglas A. Hacker, 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, Ms. Yeager, and Mr. Hacker 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 one series of the registrant whose reports to stockholders are included in this annual filing.
(a) Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$40,300 | $43,500 |
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 March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$0 | $0 |
Audit-Related Fees, if any, 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 March 31, 2023 and March 31, 2022, 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 March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$12,500 | $3,800 |
Tax Fees 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 March 31, 2023 and March 31, 2022, 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 March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$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 March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$541,000 | $535,000 |
In fiscal years 2023 and 2022, 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 March 31, 2023 and March 31, 2022 are approximately as follows:
2023 | 2022 |
$553,500 | $538,800 |
(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 |
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By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | May 23, 2023 |
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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 |
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Date | May 23, 2023 |
By (Signature and Title) | /s/ Michael G. Clarke |
| Michael G. Clarke, Chief Financial Officer, |
| Principal Financial Officer and Senior Vice President |
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Date | May 23, 2023 |
By (Signature and Title) | /s/ Joseph Beranek |
| Joseph Beranek, Treasurer, Chief Accounting |
| Officer and Principal Financial Officer |
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Date | May 23, 2023 |