UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-21852
Columbia Funds Series Trust II
(Exact name of registrant as specified in charter)
290 Congress Street
Boston, MA 02210
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
290 Congress Street
Boston, MA 02210
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: July 31
Date of reporting period: July 31, 2021
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.
July 31, 2021
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Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 10/06/75 | 0.01 | 0.74 | 0.38 | |
Class C | 06/26/00 | 0.01 | 0.74 | 0.38 | |
Institutional Class | 04/30/10 | 0.01 | 0.75 | 0.38 | |
Institutional 2 Class | 12/11/06 | 0.01 | 0.86 | 0.44 | |
Institutional 3 Class* | 03/01/17 | 0.01 | 0.88 | 0.44 | |
Class R | 08/03/09 | 0.01 | 0.75 | 0.38 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Government Money Market Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Repurchase Agreements | 11.8 |
Treasury Bills | 29.0 |
U.S. Government & Agency Obligations | 52.6 |
U.S. Treasury Obligations | 6.6 |
Total | 100.0 |
4 | Columbia Government Money Market Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Class C | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Institutional Class | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Class R | 1,000.00 | 1,000.00 | 1,000.00 | 1,024.68 | 0.25 | 0.25 | 0.05 |
Columbia Government Money Market Fund | Annual Report 2021 | 5 |
July 31, 2021
Repurchase Agreements 11.6% | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Tri-party RBC Dominion Securities, Inc. | ||||
dated 07/30/2021, matures 08/02/2021, | ||||
repurchase price $30,000,125 (collateralized by U.S. Treasury Securities, Total Market Value $30,600,100) | ||||
0.050% | 30,000,000 | 30,000,000 | ||
Tri-party TD Securities (USA) LLC | ||||
dated 07/30/2021, matures 08/02/2021, | ||||
repurchase price $30,000,125 (collateralized by U.S. Treasury Securities, Total Market Value $30,600,006) | ||||
0.050% | 30,000,000 | 30,000,000 | ||
Total Repurchase Agreements (Cost $60,000,000) | 60,000,000 | |||
Treasury Bills 28.5% | ||||
United States 28.5% | ||||
U.S. Treasury Bills | ||||
08/05/2021 | 0.030% | 9,000,000 | 8,999,951 | |
08/10/2021 | 0.040% | 16,000,000 | 15,999,822 | |
08/12/2021 | 0.040% | 15,000,000 | 14,999,788 | |
08/19/2021 | 0.050% | 9,000,000 | 8,999,734 | |
08/24/2021 | 0.010% | 11,000,000 | 10,999,941 | |
09/02/2021 | 0.010% | 14,000,000 | 13,999,846 | |
09/16/2021 | 0.020% | 12,000,000 | 11,999,713 | |
09/23/2021 | 0.040% | 14,000,000 | 13,999,234 | |
10/07/2021 | 0.040% | 19,000,000 | 18,998,385 | |
10/12/2021 | 0.040% | 9,000,000 | 8,999,288 | |
10/21/2021 | 0.040% | 13,000,000 | 12,998,756 | |
10/26/2021 | 0.040% | 7,000,000 | 6,999,335 | |
Total | 147,993,793 | |||
Total Treasury Bills (Cost $147,993,793) | 147,993,793 | |||
U.S. Government & Agency Obligations 51.6% | ||||
Federal Agricultural Mortgage Corp.(a) | ||||
1-month USD LIBOR + 0.000% 12/01/2021 | 0.100% | 4,000,000 | 4,000,000 | |
Federal Agricultural Mortgage Corp. | ||||
02/01/2022 | 0.040% | 8,000,000 | 8,000,000 | |
06/17/2022 | 0.070% | 8,500,000 | 8,500,000 | |
Federal Agricultural Mortgage Corp. Discount Notes | ||||
08/27/2021 | 0.040% | 7,000,000 | 6,999,805 | |
09/20/2021 | 0.040% | 8,000,000 | 7,999,547 | |
09/23/2021 | 0.050% | 8,000,000 | 7,999,400 | |
12/06/2021 | 0.030% | 5,000,000 | 4,999,467 | |
Federal Farm Credit Banks Discount Notes | ||||
09/10/2021 | 0.030% | 7,000,000 | 6,999,761 | |
11/09/2021 | 0.040% | 9,000,000 | 8,998,990 |
U.S. Government & Agency Obligations (continued) | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Federal Farm Credit Banks Funding Corp. | ||||
04/06/2022 | 0.070% | 5,500,000 | 5,499,437 | |
Federal Home Loan Banks | ||||
08/02/2021 | 0.050% | 10,500,000 | 10,499,998 | |
Federal Home Loan Banks(a) | ||||
SOFR + 0.140% 08/18/2021 | 0.190% | 6,000,000 | 6,000,000 | |
Federal Home Loan Banks Discount Notes | ||||
08/02/2021 | 0.010% | 8,000,000 | 7,999,991 | |
08/04/2021 | 0.030% | 4,000,000 | 3,999,985 | |
08/05/2021 | 0.000% | 12,000,000 | 11,999,992 | |
08/06/2021 | 0.030% | 15,500,000 | 15,499,897 | |
08/11/2021 | 0.030% | 17,000,000 | 16,999,858 | |
08/16/2021 | 0.010% | 15,000,000 | 14,999,900 | |
08/17/2021 | 0.010% | 8,495,000 | 8,494,960 | |
08/18/2021 | 0.010% | 13,000,000 | 12,999,941 | |
08/23/2021 | 0.010% | 7,000,000 | 6,999,933 | |
08/27/2021 | 0.010% | 10,000,000 | 9,999,887 | |
09/01/2021 | 0.040% | 9,650,000 | 9,649,614 | |
09/03/2021 | 0.040% | 13,000,000 | 12,999,480 | |
09/15/2021 | 0.020% | 12,000,000 | 11,999,663 | |
09/17/2021 | 0.040% | 15,000,000 | 14,999,200 | |
10/27/2021 | 0.030% | 10,000,000 | 9,999,193 | |
Federal Home Loan Mortgage Corp(a) | ||||
SOFR + 0.100% 08/19/2022 | 0.150% | 12,000,000 | 12,000,000 | |
Total U.S. Government & Agency Obligations (Cost $268,137,899) | 268,137,899 | |||
U.S. Treasury Obligations 6.4% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury(a) | ||||
3-month U.S. Treasury Index + 0.220% 07/31/2021 | 0.270% | 3,000,000 | 3,000,000 | |
3-month U.S. Treasury Index + 0.154% 01/31/2022 | 0.200% | 6,500,000 | 6,500,130 | |
3-month U.S. Treasury Index + 0.049% 01/31/2023 | 0.100% | 16,000,000 | 16,000,488 | |
3-month U.S. Treasury Index + 0.034% 04/30/2023 | 0.080% | 8,000,000 | 8,000,567 | |
Total U.S. Treasury Obligations (Cost $33,501,185) | 33,501,185 |
6 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
Total Investments in Securities (Cost: $509,632,877) | 509,632,877 | |
Other Assets & Liabilities, Net | 9,914,150 | |
Net Assets | 519,547,027 |
(a) | Variable rate security. The interest rate shown was the current rate as of July 31, 2021. |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Repurchase Agreements | — | 60,000,000 | — | 60,000,000 |
Treasury Bills | — | 147,993,793 | — | 147,993,793 |
U.S. Government & Agency Obligations | — | 268,137,899 | — | 268,137,899 |
U.S. Treasury Obligations | — | 33,501,185 | — | 33,501,185 |
Total Investments in Securities | — | 509,632,877 | — | 509,632,877 |
Columbia Government Money Market Fund | Annual Report 2021 | 7 |
July 31, 2021
See the Portfolio of Investments for all investment classifications not indicated in the table.
8 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $449,632,877) | $449,632,877 |
Repurchase agreements (cost $60,000,000) | 60,000,000 |
Cash | 17,914,803 |
Receivable for: | |
Capital shares sold | 814,159 |
Interest | 21,309 |
Expense reimbursement due from Investment Manager | 13,266 |
Prepaid expenses | 12,436 |
Other assets | 3,719 |
Total assets | 528,412,569 |
Liabilities | |
Payable for: | |
Investments purchased | 6,999,805 |
Capital shares purchased | 1,524,306 |
Distributions to shareholders | 4,397 |
Management services fees | 5,561 |
Transfer agent fees | 55,025 |
Compensation of board members | 210,595 |
Other expenses | 65,853 |
Total liabilities | 8,865,542 |
Net assets applicable to outstanding capital stock | $519,547,027 |
Represented by | |
Paid in capital | 519,695,495 |
Total distributable earnings (loss) | (148,468) |
Total - representing net assets applicable to outstanding capital stock | $519,547,027 |
Class A | |
Net assets | $359,057,768 |
Shares outstanding | 358,944,819 |
Net asset value per share | $1.00 |
Class C | |
Net assets | $10,817,744 |
Shares outstanding | 10,818,795 |
Net asset value per share | $1.00 |
Institutional Class | |
Net assets | $85,679,485 |
Shares outstanding | 85,697,471 |
Net asset value per share | $1.00 |
Institutional 2 Class | |
Net assets | $7,646,916 |
Shares outstanding | 7,645,482 |
Net asset value per share | $1.00 |
Institutional 3 Class | |
Net assets | $50,959,835 |
Shares outstanding | 50,964,334 |
Net asset value per share | $1.00 |
Class R | |
Net assets | $5,385,279 |
Shares outstanding | 5,384,390 |
Net asset value per share | $1.00 |
Columbia Government Money Market Fund | Annual Report 2021 | 9 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Interest | $489,893 |
Total income | 489,893 |
Expenses: | |
Management services fees | 2,187,014 |
Transfer agent fees | |
Class A | 610,970 |
Class C | 23,908 |
Institutional Class | 144,946 |
Institutional 2 Class | 4,906 |
Institutional 3 Class | 4,017 |
Class R | 8,232 |
Compensation of board members | 79,667 |
Custodian fees | 10,786 |
Printing and postage fees | 149,907 |
Registration fees | 116,128 |
Audit fees | 29,500 |
Legal fees | 13,941 |
Compensation of chief compliance officer | 112 |
Other | 47,732 |
Total expenses | 3,431,766 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (2,997,756) |
Expense reduction | (2,705) |
Total net expenses | 431,305 |
Net investment income | 58,588 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 10,022 |
Net realized gain | 10,022 |
Net realized and unrealized gain | 10,022 |
Net increase in net assets resulting from operations | $68,610 |
10 | Columbia Government Money Market Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $58,588 | $4,527,091 |
Net realized gain | 10,022 | 748 |
Net increase in net assets resulting from operations | 68,610 | 4,527,839 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (38,751) | (3,336,769) |
Class C | (1,515) | (68,845) |
Institutional Class | (9,100) | (647,950) |
Institutional 2 Class | (886) | (82,084) |
Institutional 3 Class | (5,046) | (707,650) |
Class R | (519) | (24,176) |
Total distributions to shareholders | (55,817) | (4,867,474) |
Increase (decrease) in net assets from capital stock activity | (63,360,891) | 49,402,791 |
Total increase (decrease) in net assets | (63,348,098) | 49,063,156 |
Net assets at beginning of year | 582,895,125 | 533,831,969 |
Net assets at end of year | $519,547,027 | $582,895,125 |
Columbia Government Money Market Fund | Annual Report 2021 | 11 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 102,556,085 | 102,556,086 | 163,239,698 | 163,239,698 |
Distributions reinvested | 37,865 | 37,865 | 3,269,814 | 3,269,814 |
Redemptions | (139,180,191) | (139,184,986) | (150,935,361) | (150,940,624) |
Net increase (decrease) | (36,586,241) | (36,591,035) | 15,574,151 | 15,568,888 |
Class C | ||||
Subscriptions | 10,222,418 | 10,222,418 | 21,056,518 | 21,056,519 |
Distributions reinvested | 1,501 | 1,501 | 66,042 | 66,042 |
Redemptions | (16,004,821) | (16,004,821) | (12,060,461) | (12,060,076) |
Net increase (decrease) | (5,780,902) | (5,780,902) | 9,062,099 | 9,062,485 |
Institutional Class | ||||
Subscriptions | 50,840,483 | 50,840,482 | 91,204,952 | 91,204,953 |
Distributions reinvested | 8,962 | 8,962 | 632,225 | 632,225 |
Redemptions | (59,629,575) | (59,629,575) | (66,665,097) | (66,665,097) |
Net increase (decrease) | (8,780,130) | (8,780,131) | 25,172,080 | 25,172,081 |
Institutional 2 Class | ||||
Subscriptions | 18,105,202 | 18,105,202 | 29,569,807 | 29,569,807 |
Distributions reinvested | 885 | 885 | 82,082 | 82,082 |
Redemptions | (18,813,518) | (18,813,518) | (25,969,679) | (25,965,876) |
Net increase (decrease) | (707,431) | (707,431) | 3,682,210 | 3,686,013 |
Institutional 3 Class | ||||
Subscriptions | 55,574,209 | 55,574,209 | 39,659,631 | 39,659,631 |
Distributions reinvested | 5,021 | 5,021 | 707,419 | 707,419 |
Redemptions | (67,864,364) | (67,859,668) | (46,146,321) | (46,144,919) |
Net decrease | (12,285,134) | (12,280,438) | (5,779,271) | (5,777,869) |
Class R | ||||
Subscriptions | 5,699,020 | 5,699,020 | 5,109,915 | 5,109,915 |
Distributions reinvested | 515 | 515 | 24,088 | 24,088 |
Redemptions | (4,920,586) | (4,920,489) | (3,442,482) | (3,442,810) |
Net increase | 778,949 | 779,046 | 1,691,521 | 1,691,193 |
Total net increase (decrease) | (63,360,889) | (63,360,891) | 49,402,790 | 49,402,791 |
12 | Columbia Government Money Market Fund | Annual Report 2021 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | (0.00)(b) | (0.00)(b) |
Class C | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | (0.00)(b) | (0.00)(b) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | (0.00)(b) | (0.00)(b) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | (0.00)(b) | (0.00)(b) |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017(d) | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
14 | Columbia Government Money Market Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets | Total net expense ratio to average net assets(a) | Net investment income ratio to average net assets | Net assets, end of period (000’s) | |
Class A | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.63% | 0.08%(c) | 0.01% | $359,058 |
Year Ended 7/31/2020 | $1.00 | 0.90% | 0.63% | 0.39%(c) | 0.82% | $395,640 |
Year Ended 7/31/2019 | $1.00 | 1.83% | 0.65% | 0.50% | 1.83% | $380,309 |
Year Ended 7/31/2018 | $1.00 | 0.90% | 0.66% | 0.51%(c) | 0.86% | $433,330 |
Year Ended 7/31/2017 | $1.00 | 0.06% | 0.67% | 0.52%(c) | 0.03% | $631,833 |
Class C | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.63% | 0.08%(c) | 0.01% | $10,818 |
Year Ended 7/31/2020 | $1.00 | 0.90% | 0.62% | 0.34%(c) | 0.58% | $16,598 |
Year Ended 7/31/2019 | $1.00 | 1.83% | 0.65% | 0.50% | 1.85% | $7,541 |
Year Ended 7/31/2018 | $1.00 | 0.90% | 0.66% | 0.51%(c) | 0.85% | $7,042 |
Year Ended 7/31/2017 | $1.00 | 0.09% | 0.67% | 0.52%(c) | 0.05% | $17,463 |
Institutional Class | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.63% | 0.08%(c) | 0.01% | $85,679 |
Year Ended 7/31/2020 | $1.00 | 0.90% | 0.63% | 0.37%(c) | 0.74% | $94,458 |
Year Ended 7/31/2019 | $1.00 | 1.83% | 0.65% | 0.50% | 1.82% | $69,331 |
Year Ended 7/31/2018 | $1.00 | 0.90% | 0.65% | 0.51%(c) | 0.90% | $94,239 |
Year Ended 7/31/2017 | $1.00 | 0.10% | 0.67% | 0.52%(c) | 0.06% | $114,998 |
Institutional 2 Class | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.52% | 0.07% | 0.01% | $7,647 |
Year Ended 7/31/2020 | $1.00 | 1.00% | 0.51% | 0.29% | 0.82% | $8,354 |
Year Ended 7/31/2019 | $1.00 | 1.96% | 0.52% | 0.36% | 2.06% | $4,674 |
Year Ended 7/31/2018 | $1.00 | 1.07% | 0.49% | 0.34% | 1.12% | $1,919 |
Year Ended 7/31/2017 | $1.00 | 0.28% | 0.44% | 0.35% | 0.26% | $1,439 |
Institutional 3 Class | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.47% | 0.08% | 0.01% | $50,960 |
Year Ended 7/31/2020 | $1.00 | 1.04% | 0.46% | 0.26% | 0.97% | $63,239 |
Year Ended 7/31/2019 | $1.00 | 2.02% | 0.47% | 0.31% | 2.06% | $69,061 |
Year Ended 7/31/2018 | $1.00 | 1.08% | 0.46% | 0.33% | 1.38% | $10,312 |
Year Ended 7/31/2017(d) | $1.00 | 0.21% | 0.45%(e) | 0.33%(e) | 0.55%(e) | $664 |
Columbia Government Money Market Fund | Annual Report 2021 | 15 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 7/31/2021 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | — | (0.00)(b) |
Year Ended 7/31/2020 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | (0.00)(b) | (0.01) |
Year Ended 7/31/2019 | $1.00 | 0.02 | 0.00(b) | 0.02 | (0.02) | — | (0.02) |
Year Ended 7/31/2018 | $1.00 | 0.01 | 0.00(b) | 0.01 | (0.01) | — | (0.01) |
Year Ended 7/31/2017 | $1.00 | 0.00(b) | 0.00(b) | 0.00(b) | (0.00)(b) | (0.00)(b) | (0.00)(b) |
Notes to Financial Highlights | |
(a) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(b) | Rounds to zero. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(e) | Annualized. |
16 | Columbia Government Money Market Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets | Total net expense ratio to average net assets(a) | Net investment income ratio to average net assets | Net assets, end of period (000’s) | |
Class R | ||||||
Year Ended 7/31/2021 | $1.00 | 0.01% | 0.63% | 0.07%(c) | 0.01% | $5,385 |
Year Ended 7/31/2020 | $1.00 | 0.90% | 0.63% | 0.37%(c) | 0.72% | $4,606 |
Year Ended 7/31/2019 | $1.00 | 1.82% | 0.65% | 0.50% | 1.84% | $2,917 |
Year Ended 7/31/2018 | $1.00 | 0.90% | 0.65% | 0.51%(c) | 0.87% | $3,763 |
Year Ended 7/31/2017 | $1.00 | 0.10% | 0.66% | 0.52%(c) | 0.08% | $5,184 |
Columbia Government Money Market Fund | Annual Report 2021 | 17 |
July 31, 2021
18 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
RBC Dominion Securities ($) | TD Securities ($) | Total ($) | |
Assets | |||
Repurchase agreements | 30,000,000 | 30,000,000 | 60,000,000 |
Total financial and derivative net assets | 30,000,000 | 30,000,000 | 60,000,000 |
Total collateral received (pledged) (a) | 30,000,000 | 30,000,000 | 60,000,000 |
Net amount (b) | - | - | - |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Government Money Market Fund | Annual Report 2021 | 19 |
July 31, 2021
20 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.16 |
Class C | 0.16 |
Institutional Class | 0.16 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.16 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | — | — | 435 |
Class C | — | — | 1,000 |
Columbia Government Money Market Fund | Annual Report 2021 | 21 |
July 31, 2021
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 0.55% | 0.58% |
Class C | 1.20 | 1.23 |
Institutional Class | 0.45 | 0.48 |
Institutional 2 Class | 0.34 | 0.34 |
Institutional 3 Class | 0.29 | 0.29 |
Class R | 0.95 | 0.98 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
55,817 | — | 55,817 | 4,867,474 | — | 4,867,474 |
22 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
57,283 | 8,156 | — | — |
Columbia Government Money Market Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Government Money Market Fund | Annual Report 2021 |
July 31, 2021
Columbia Government Money Market Fund | Annual Report 2021 | 25 |
26 | Columbia Government Money Market Fund | Annual Report 2021 |
Capital gain dividend | Section 163(j) Interest Dividends |
$8,564 | 100.00% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Government Money Market Fund | Annual Report 2021 | 27 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
28 | Columbia Government Money Market Fund | Annual Report 2021 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Government Money Market Fund | Annual Report 2021 | 29 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
30 | Columbia Government Money Market Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Government Money Market Fund | Annual Report 2021 | 31 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
32 | Columbia Government Money Market Fund | Annual Report 2021 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Government Money Market Fund | Annual Report 2021 | 33 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
34 | Columbia Government Money Market Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Government Money Market Fund | Annual Report 2021 | 35 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
36 | Columbia Government Money Market Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Government Money Market Fund | Annual Report 2021 | 37 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
36 | |
37 | |
38 | |
40 | |
44 | |
56 | |
57 | |
57 | |
63 | |
64 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 11/24/76 | 5.91 | 3.99 | 5.27 |
Including sales charges | 2.71 | 3.36 | 4.93 | ||
Advisor Class* | 03/19/13 | 6.06 | 4.23 | 5.50 | |
Class C | Excluding sales charges | 06/26/00 | 4.93 | 3.23 | 4.49 |
Including sales charges | 3.93 | 3.23 | 4.49 | ||
Institutional Class | 09/27/10 | 6.00 | 4.27 | 5.51 | |
Institutional 2 Class* | 12/11/13 | 6.01 | 4.27 | 5.48 | |
Institutional 3 Class* | 03/01/17 | 6.24 | 4.27 | 5.41 | |
Bloomberg Barclays Municipal Bond Index | 3.29 | 3.41 | 4.27 | ||
Bloomberg Barclays High Yield Municipal Bond Index | 12.65 | 6.30 | 6.95 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 8.9 |
AA rating | 28.2 |
A rating | 31.0 |
BBB rating | 17.9 |
BB rating | 4.2 |
B rating | 0.1 |
D rating | 0.7 |
Not rated | 9.0 |
Total | 100.0 |
Top Ten States/Territories (%) (at July 31, 2021) | |
Texas | 9.4 |
Illinois | 9.0 |
New York | 7.1 |
California | 6.7 |
New Jersey | 5.7 |
Washington | 5.3 |
Pennsylvania | 5.3 |
Florida | 3.8 |
Colorado | 3.6 |
Michigan | 3.4 |
4 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
• | Having overweighted allocations to the airport, toll road, hospital and continuing care retirement communities (CCRC) sectors contributed positively to the Fund’s relative results. These were sectors that had been severely impacted during the COVID-19 pandemic-induced sell-off in the spring of 2020 and were slow to recover until approved vaccinations helped open the economy and direct federal stimulus proceeds helped shore up fundamentals. |
• | Having underweights to the pre-refunded and water and sewer sectors, which underperformed the benchmark during the period, also boosted relative results. |
• | Issue selection was additive among the special tax (particularly certain Puerto Rico holdings), airport, airline, toll road and state general obligation sectors. Among state general obligations, Illinois holdings performed especially well as rating agencies improved their outlook on the state’s budget. |
• | Credit quality allocation positioning overall added value, especially overweights to BBB-rated and A-rated municipal bonds, underweights to AAA-rated and AA-rated municipal bonds and exposure to below-investment-grade municipal bonds. During the period, lower quality portions of the municipal bond market generally outperformed higher quality segments. Security selection among municipal bonds rated AA, A and BBB also proved beneficial. |
• | Yield curve positioning helped. The Fund was overweight in bonds with maturities of 15 years and longer and underweight in bonds with maturities of one to 10 years, and longer term municipal bonds outpaced shorter term municipal issues during the period. |
• | Having an overweight to, and issue selection within, the housing sector detracted, as its more defensive structure led to relatively weak returns. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 5 |
• | Having underweights in the leasing, special tax and industrial development revenue/pollution control revenue (IDR/PCR) sectors, each of which outperformed the benchmark during the period, dampened the Fund’s relative results. |
6 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,023.60 | 1,021.04 | 3.94 | 3.93 | 0.78 |
Advisor Class | 1,000.00 | 1,000.00 | 1,024.90 | 1,022.29 | 2.68 | 2.67 | 0.53 |
Class C | 1,000.00 | 1,000.00 | 1,019.20 | 1,017.30 | 7.70 | 7.70 | 1.53 |
Institutional Class | 1,000.00 | 1,000.00 | 1,024.90 | 1,022.29 | 2.68 | 2.67 | 0.53 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,024.90 | 1,022.34 | 2.63 | 2.62 | 0.52 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,025.20 | 1,022.59 | 2.37 | 2.37 | 0.47 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 7 |
July 31, 2021
Exchange-Traded Fixed Income Funds 0.7% | ||
Shares | Value ($) | |
United States 0.7% | ||
Columbia Multi-Sector Municipal Income ETF(a) | 851,118 | 19,388,468 |
Total Exchange-Traded Fixed Income Funds (Cost $17,754,951) | 19,388,468 |
Floating Rate Notes 0.8% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
New York 0.8% | ||||
New York City Transitional Finance Authority(b),(c) | ||||
Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2015 (JPMorgan Chase Bank) | ||||
02/01/2045 | 0.030% | 8,015,000 | 8,015,000 | |
New York City Water & Sewer System(b),(c) | ||||
Revenue Bonds | ||||
2nd General Resolution | ||||
Series 2013 (JPMorgan Chase Bank) | ||||
06/15/2050 | 0.030% | 16,005,000 | 16,005,000 | |
Total | 24,020,000 | |||
Total Floating Rate Notes (Cost $24,020,000) | 24,020,000 | |||
Municipal Bonds 98.4% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Alabama 1.9% | ||||
Alabama Special Care Facilities Financing Authority | ||||
Refunding Revenue Bonds | ||||
Children’s Hospital of Alabama | ||||
Series 2015 | ||||
06/01/2034 | 5.000% | 4,000,000 | 4,600,602 | |
Black Belt Energy Gas District | ||||
Refunding Revenue Bonds | ||||
Series 2021 (Mandatory Put 12/01/31) | ||||
06/01/2051 | 4.000% | 10,000,000 | 12,593,018 | |
Revenue Bonds | ||||
Project No. 4 | ||||
Series 2019A-1 (Mandatory Put 12/01/25) | ||||
12/01/2049 | 4.000% | 15,000,000 | 17,117,190 | |
Lower Alabama Gas District (The) | ||||
Revenue Bonds | ||||
Gas Project | ||||
Series 2020 (Mandatory Put 12/01/25) | ||||
12/01/2050 | 4.000% | 10,000,000 | 11,416,461 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Southeast Energy Authority A Cooperative District | ||||
Revenue Bonds | ||||
Project #1 | ||||
Series 2021A (Mandatory Put 10/01/28) | ||||
11/01/2051 | 4.000% | 7,000,000 | 8,434,970 | |
Total | 54,162,241 | |||
Arizona 1.3% | ||||
Arizona Board of Regents | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2035 | 5.000% | 1,000,000 | 1,330,422 | |
07/01/2036 | 5.000% | 1,000,000 | 1,326,678 | |
07/01/2037 | 5.000% | 1,500,000 | 1,984,401 | |
Arizona Industrial Development Authority | ||||
Revenue Bonds | ||||
Great Lakes Senior Living Community | ||||
Series 2019 | ||||
01/01/2049 | 4.500% | 750,000 | 771,081 | |
Lincoln South Beltway Project | ||||
Series 2020 | ||||
08/01/2030 | 5.000% | 2,000,000 | 2,666,899 | |
02/01/2031 | 5.000% | 1,500,000 | 2,021,732 | |
05/01/2031 | 5.000% | 1,500,000 | 2,032,253 | |
08/01/2031 | 5.000% | 1,500,000 | 2,042,610 | |
Phoenix Children’s Hospital | ||||
Series 2020 | ||||
02/01/2050 | 4.000% | 1,200,000 | 1,402,250 | |
Chandler Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Intel Corp. | ||||
Series 2019 (Mandatory Put 06/03/24) | ||||
06/01/2049 | 5.000% | 2,800,000 | 3,158,611 | |
Industrial Development Authority of the City of Phoenix (The) | ||||
Revenue Bonds | ||||
Downtown Phoenix Student Housing II LLC - Arizona State University Project | ||||
Series 2019 | ||||
07/01/2059 | 5.000% | 1,000,000 | 1,202,269 | |
Downtown Student Housing II LLC - Arizona State University Project | ||||
Series 2019 | ||||
07/01/2054 | 5.000% | 1,330,000 | 1,604,378 | |
La Paz County Industrial Development Authority | ||||
Revenue Bonds | ||||
Charter School Solutions - Harmony Public Schools Project | ||||
Series 2016 | ||||
02/15/2046 | 5.000% | 6,500,000 | 7,326,384 | |
Series 2018 | ||||
02/15/2048 | 5.000% | 870,000 | 1,023,880 |
8 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Maricopa County Industrial Development Authority | ||||
Revenue Bonds | ||||
Banner Health | ||||
Series 2017A | ||||
01/01/2041 | 4.000% | 4,000,000 | 4,611,076 | |
Maricopa County Industrial Development Authority(e) | ||||
Revenue Bonds | ||||
Christian Care Surprise, Inc. Project | ||||
Series 2016 | ||||
01/01/2036 | 5.750% | 1,600,000 | 1,681,171 | |
01/01/2048 | 6.000% | 1,250,000 | 1,303,748 | |
Total | 37,489,843 | |||
California 6.7% | ||||
ABAG Finance Authority for Nonprofit Corps. | ||||
Refunding Revenue Bonds | ||||
Episcopal Senior Communities | ||||
Series 2012 | ||||
07/01/2047 | 5.000% | 4,100,000 | 4,219,881 | |
California Health Facilities Financing Authority | ||||
Revenue Bonds | ||||
Kaiser Permanente | ||||
Subordinated Series 2017A-2 | ||||
11/01/2044 | 4.000% | 4,280,000 | 4,988,437 | |
California Municipal Finance Authority | ||||
Refunding Revenue Bonds | ||||
Community Medical Centers | ||||
Series 2017A | ||||
02/01/2042 | 4.000% | 3,000,000 | 3,398,153 | |
02/01/2042 | 5.000% | 1,500,000 | 1,810,513 | |
California Municipal Finance Authority(e) | ||||
Revenue Bonds | ||||
California Baptist University | ||||
Series 2016A | ||||
11/01/2046 | 5.000% | 1,000,000 | 1,167,615 | |
California Public Finance Authority(e) | ||||
Revenue Bonds | ||||
Enso Village Project - Green Bonds | ||||
Series 2021 | ||||
11/15/2036 | 5.000% | 500,000 | 601,959 | |
11/15/2051 | 5.000% | 1,000,000 | 1,169,363 | |
Enso Village Project - TEMPS 85 | ||||
Series 2021 | ||||
05/15/2029 | 3.125% | 2,510,000 | 2,561,376 | |
California School Finance Authority(e) | ||||
Revenue Bonds | ||||
River Springs Charter School Project | ||||
Series 2015 | ||||
07/01/2046 | 6.375% | 1,000,000 | 1,148,733 | |
07/01/2046 | 6.375% | 150,000 | 172,310 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
California State Public Works Board | ||||
Prerefunded 12/01/21 Revenue Bonds | ||||
Judicial Council Projects | ||||
Series 2011D | ||||
12/01/2031 | 5.000% | 5,000,000 | 5,079,593 | |
Revenue Bonds | ||||
Various Capital Projects | ||||
Series 2012A | ||||
04/01/2037 | 5.000% | 650,000 | 671,132 | |
California Statewide Communities Development Authority | ||||
Refunding Revenue Bonds | ||||
Front Porch Communities & Services | ||||
Series 2017 | ||||
04/01/2042 | 4.000% | 1,905,000 | 2,108,325 | |
California Statewide Communities Development Authority(e) | ||||
Revenue Bonds | ||||
Loma Linda University Medical Center | ||||
Series 2016A | ||||
12/01/2046 | 5.000% | 500,000 | 563,806 | |
City of Los Angeles Department of Airports(d) | ||||
Revenue Bonds | ||||
Los Angeles International Airport | ||||
Subordinated Series 2018 | ||||
05/15/2044 | 5.000% | 2,000,000 | 2,482,298 | |
Senior Series 2020C | ||||
05/15/2032 | 5.000% | 10,090,000 | 13,283,818 | |
Compton Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Compton Unified School District | ||||
Series 2019B (BAM) | ||||
06/01/2037 | 0.000% | 2,125,000 | 1,410,176 | |
06/01/2038 | 0.000% | 1,830,000 | 1,169,725 | |
Foothill-Eastern Transportation Corridor Agency | ||||
Refunding Revenue Bonds | ||||
Junior Lien | ||||
Subordinated Series 2021 | ||||
01/15/2033 | 4.000% | 1,153,000 | 1,408,163 | |
Senior Lien | ||||
Series 2021A | ||||
01/15/2046 | 4.000% | 4,346,000 | 5,194,777 | |
Glendale Unified School District(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2015B | ||||
09/01/2032 | 0.000% | 1,000,000 | 705,775 | |
09/01/2033 | 0.000% | 1,100,000 | 736,178 | |
Golden State Tobacco Securitization Corp. | ||||
Refunding Revenue Bonds | ||||
Series 2018A-2 | ||||
06/01/2047 | 5.000% | 8,500,000 | 8,775,876 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 9 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Hastings Campus Housing Finance Authority | ||||
Revenue Bonds | ||||
Senior Green Bonds | ||||
Series 2020 | ||||
07/01/2045 | 5.000% | 3,500,000 | 4,262,772 | |
Los Angeles Unified School District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
07/01/2029 | 5.000% | 1,000,000 | 1,327,992 | |
07/01/2033 | 4.000% | 1,000,000 | 1,248,217 | |
Series 2020RYQ | ||||
07/01/2033 | 5.000% | 8,000,000 | 10,760,527 | |
07/01/2035 | 5.000% | 5,000,000 | 6,692,215 | |
Norman Y. Mineta San Jose International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
03/01/2041 | 5.000% | 2,000,000 | 2,408,559 | |
Poway Unified School District(f) | ||||
Unlimited General Obligation Bonds | ||||
Improvement District No. 2007-1-A | ||||
Series 2009 | ||||
08/01/2030 | 0.000% | 4,475,000 | 3,968,118 | |
Riverside County Transportation Commission(f) | ||||
Revenue Bonds | ||||
Senior Lien | ||||
Series 2013B | ||||
06/01/2029 | 0.000% | 2,500,000 | 2,222,835 | |
San Francisco City & County Airport Commission - San Francisco International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Series 2020-2 | ||||
05/01/2037 | 5.000% | 9,375,000 | 12,096,471 | |
Revenue Bonds | ||||
Series 2019A | ||||
05/01/2035 | 5.000% | 14,310,000 | 18,205,846 | |
05/01/2036 | 5.000% | 5,000,000 | 6,343,908 | |
State Center Community College District | ||||
Unlimited General Obligation Bonds | ||||
Series 2020B | ||||
08/01/2032 | 4.000% | 1,200,000 | 1,515,799 | |
08/01/2033 | 3.000% | 2,840,000 | 3,310,021 | |
08/01/2034 | 3.000% | 2,895,000 | 3,351,948 | |
08/01/2035 | 3.000% | 1,600,000 | 1,843,486 | |
08/01/2036 | 3.000% | 2,275,000 | 2,605,404 | |
State of California | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
11/01/2035 | 4.000% | 1,000,000 | 1,248,433 | |
Various Purpose | ||||
Series 2012 | ||||
04/01/2035 | 5.250% | 4,500,000 | 4,650,886 | |
Series 2018 | ||||
10/01/2028 | 5.000% | 5,000,000 | 6,522,748 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020 | ||||
03/01/2034 | 5.000% | 14,235,000 | 18,848,956 | |
03/01/2035 | 5.000% | 1,800,000 | 2,378,222 | |
Unlimited General Obligation Refunding Bonds | ||||
Various Purpose | ||||
Series 2020 | ||||
03/01/2037 | 4.000% | 5,000,000 | 6,113,857 | |
03/01/2040 | 4.000% | 1,500,000 | 1,815,577 | |
Unrefunded Unlimited General Obligation Bonds | ||||
Series 2004 | ||||
04/01/2029 | 5.300% | 2,000 | 2,008 | |
University of California | ||||
General Refunding Revenue Bonds | ||||
Series 2018AZ | ||||
05/15/2043 | 5.000% | 3,455,000 | 4,338,342 | |
Total | 192,911,129 | |||
Colorado 3.6% | ||||
City & County of Denver(f) | ||||
Revenue Bonds | ||||
Series 2018-A-2 | ||||
08/01/2034 | 0.000% | 6,000,000 | 4,058,515 | |
City & County of Denver Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018-A | ||||
12/01/2037 | 5.000% | 5,000,000 | 6,244,347 | |
Subordinated Series 2018A | ||||
12/01/2048 | 4.000% | 3,500,000 | 4,000,612 | |
Colorado Bridge Enterprise(d) | ||||
Revenue Bonds | ||||
Central 70 Project | ||||
Series 2017 | ||||
06/30/2051 | 4.000% | 6,690,000 | 7,454,390 | |
Colorado Educational & Cultural Facilities Authority(e) | ||||
Improvement Refunding Revenue Bonds | ||||
Skyview Charter School | ||||
Series 2014 | ||||
07/01/2044 | 5.375% | 750,000 | 808,189 | |
07/01/2049 | 5.500% | 700,000 | 755,726 | |
Colorado Health Facilities Authority | ||||
Improvement Refunding Revenue Bonds | ||||
Bethesda Project | ||||
Series 2018 | ||||
09/15/2053 | 5.000% | 10,000,000 | 11,698,513 | |
Prerefunded 06/01/27 Revenue Bonds | ||||
Evangelical Lutheran Good Samaritan Society | ||||
Series 2017 | ||||
06/01/2042 | 5.000% | 3,150,000 | 3,924,173 | |
Refunding Revenue Bonds | ||||
AdventHealth Obligated | ||||
Series 2019 | ||||
11/15/2043 | 4.000% | 1,910,000 | 2,277,219 |
10 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
CommonSpirit Health | ||||
Series 2019A | ||||
08/01/2044 | 4.000% | 17,000,000 | 19,832,180 | |
08/01/2049 | 4.000% | 2,595,000 | 3,011,074 | |
Series 2019B (Mandatory Put 08/01/26) | ||||
08/01/2049 | 5.000% | 3,000,000 | 3,585,277 | |
Covenant Retirement Communities | ||||
Series 2015 | ||||
12/01/2035 | 5.000% | 850,000 | 962,922 | |
Revenue Bonds | ||||
NJH-SJH Center for Outpatient Health | ||||
Series 2019 | ||||
01/01/2037 | 4.000% | 800,000 | 957,992 | |
01/01/2038 | 4.000% | 1,300,000 | 1,553,310 | |
01/01/2040 | 4.000% | 1,000,000 | 1,189,923 | |
Parkview Medical Center, Inc. Project | ||||
Series 2020 | ||||
09/01/2045 | 4.000% | 1,000,000 | 1,148,518 | |
09/01/2050 | 4.000% | 1,500,000 | 1,712,176 | |
Colorado Housing & Finance Authority | ||||
Revenue Bonds | ||||
Multi-Family Project | ||||
Series 2019B-1 | ||||
10/01/2039 | 3.000% | 470,000 | 507,873 | |
10/01/2049 | 3.250% | 1,000,000 | 1,076,634 | |
10/01/2054 | 3.400% | 1,000,000 | 1,079,337 | |
Series 2019K Class I (GNMA) | ||||
05/01/2050 | 3.875% | 3,425,000 | 3,815,913 | |
E-470 Public Highway Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
09/01/2035 | 5.000% | 1,150,000 | 1,511,803 | |
Jefferson Center Metropolitan District No. 1 | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2020B | ||||
12/15/2050 | 5.750% | 3,500,000 | 3,781,654 | |
State of Colorado | ||||
Certificate of Participation | ||||
Series 2020A | ||||
12/15/2035 | 4.000% | 750,000 | 930,067 | |
12/15/2039 | 4.000% | 750,000 | 916,601 | |
Series 2021A | ||||
12/15/2030 | 5.000% | 4,500,000 | 6,118,258 | |
12/15/2039 | 4.000% | 6,000,000 | 7,438,664 | |
Transport Metropolitan District No. 3 | ||||
Limited General Obligation Bonds | ||||
Series 2021A-1 | ||||
12/01/2041 | 5.000% | 1,750,000 | 1,984,135 | |
Total | 104,335,995 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Connecticut 1.5% | ||||
Connecticut Housing Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A-1 | ||||
11/15/2045 | 3.500% | 3,740,000 | 4,178,936 | |
Connecticut State Health & Educational Facilities Authority | ||||
Revenue Bonds | ||||
Sacred Heart University | ||||
Series 2020K | ||||
07/01/2045 | 4.000% | 2,000,000 | 2,329,041 | |
Yale University | ||||
07/01/2027 | 5.000% | 2,650,000 | 3,347,751 | |
State of Connecticut | ||||
Revenue Bonds | ||||
Special Tax Obligation Bonds | ||||
Series 2020A | ||||
05/01/2033 | 5.000% | 2,750,000 | 3,643,241 | |
05/01/2039 | 4.000% | 1,700,000 | 2,057,199 | |
Series 2021A | ||||
05/01/2030 | 5.000% | 1,650,000 | 2,216,853 | |
05/01/2035 | 5.000% | 3,000,000 | 4,034,278 | |
Unlimited General Obligation Bonds | ||||
Series 2018C | ||||
06/15/2035 | 5.000% | 1,000,000 | 1,262,027 | |
Series 2018-E | ||||
09/15/2035 | 5.000% | 2,000,000 | 2,541,315 | |
Series 2019A | ||||
04/15/2035 | 5.000% | 3,200,000 | 4,104,485 | |
04/15/2037 | 4.000% | 10,000,000 | 11,961,830 | |
Series 2020C | ||||
06/01/2033 | 4.000% | 300,000 | 371,341 | |
06/01/2035 | 4.000% | 770,000 | 943,878 | |
Total | 42,992,175 | |||
District of Columbia 2.8% | ||||
District of Columbia | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
KIPP Charter School | ||||
Series 2013 | ||||
07/01/2048 | 6.000% | 300,000 | 333,295 | |
Refunding Revenue Bonds | ||||
Children’s Hospital | ||||
Series 2015 | ||||
07/15/2044 | 5.000% | 2,910,000 | 3,423,931 | |
Revenue Bonds | ||||
KIPP DC Project | ||||
Series 2019 | ||||
07/01/2039 | 4.000% | 1,275,000 | 1,478,776 | |
07/01/2049 | 4.000% | 695,000 | 791,710 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 11 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2019A | ||||
03/01/2033 | 5.000% | 2,500,000 | 3,290,649 | |
Unlimited General Obligation Bonds | ||||
Series 2019-A | ||||
10/15/2032 | 5.000% | 9,090,000 | 11,848,003 | |
10/15/2033 | 5.000% | 15,000,000 | 19,520,570 | |
Metropolitan Washington Airports Authority(d) | ||||
Refunding Revenue Bonds | ||||
Airport System | ||||
Series 2019A | ||||
10/01/2033 | 5.000% | 1,755,000 | 2,268,395 | |
10/01/2035 | 5.000% | 4,745,000 | 6,106,411 | |
Series 2015B | ||||
10/01/2032 | 5.000% | 9,575,000 | 11,240,221 | |
Metropolitan Washington Airports Authority Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2021A | ||||
10/01/2030 | 5.000% | 7,000,000 | 9,364,824 | |
10/01/2051 | 4.000% | 3,000,000 | 3,599,091 | |
Metropolitan Washington Airports Authority Dulles Toll Road | ||||
Refunding Revenue Bonds | ||||
Dulles Metrorail | ||||
Subordinated Series 2019 | ||||
10/01/2049 | 4.000% | 2,275,000 | 2,659,925 | |
Washington Metropolitan Area Transit Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/15/2033 | 5.000% | 3,525,000 | 4,706,591 | |
Total | 80,632,392 | |||
Florida 3.8% | ||||
Capital Trust Agency, Inc.(e) | ||||
04/27/2021 | ||||
07/01/2056 | 5.000% | 2,125,000 | 2,531,153 | |
Revenue Bonds | ||||
Wonderful Foundations Charter School Portfolio Projects | ||||
Series 2020 | ||||
01/01/2055 | 5.000% | 3,250,000 | 3,824,366 | |
Capital Trust Agency, Inc.(e),(g) | ||||
Revenue Bonds | ||||
1st Mortgage Tallahassee Tapestry Senior Housing Project | ||||
Series 2015 | ||||
12/01/2045 | 0.000% | 3,430,000 | 1,097,600 | |
12/01/2050 | 0.000% | 1,000,000 | 320,000 | |
Capital Trust Agency, Inc.(e),(f) | ||||
Subordinated | ||||
07/01/2061 | 0.000% | 93,140,000 | 11,456,332 | |
Central Florida Expressway Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2017 (BAM) | ||||
07/01/2041 | 4.000% | 5,000,000 | 5,764,972 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Atlantic Beach | ||||
Revenue Bonds | ||||
Fleet Landing Project | ||||
Series 2018A | ||||
11/15/2053 | 5.000% | 3,000,000 | 3,436,806 | |
City of Tampa(f) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2020A | ||||
09/01/2035 | 0.000% | 650,000 | 450,684 | |
09/01/2036 | 0.000% | 700,000 | 465,088 | |
09/01/2037 | 0.000% | 700,000 | 444,644 | |
County of Broward Airport System(d) | ||||
Revenue Bonds | ||||
Series 2019A | ||||
10/01/2029 | 5.000% | 1,000,000 | 1,311,513 | |
10/01/2030 | 5.000% | 1,375,000 | 1,786,094 | |
County of Miami-Dade Aviation(d) | ||||
Refunding Revenue Bonds | ||||
Series 2019A | ||||
10/01/2049 | 5.000% | 14,490,000 | 18,125,925 | |
County of Osceola Transportation(f) | ||||
Refunding Revenue Bonds | ||||
Series 2020A-2 | ||||
10/01/2035 | 0.000% | 2,700,000 | 1,875,993 | |
10/01/2037 | 0.000% | 4,000,000 | 2,566,865 | |
10/01/2038 | 0.000% | 1,500,000 | 925,408 | |
10/01/2039 | 0.000% | 3,300,000 | 1,956,424 | |
Florida Development Finance Corp.(e),(h) | ||||
Refunding Revenue Bonds | ||||
Mayflower Retirement Community Center | ||||
Series 2021 | ||||
06/01/2027 | 2.375% | 830,000 | 831,239 | |
Florida Development Finance Corp.(e) | ||||
Refunding Revenue Bonds | ||||
Renaissance Charter School, Inc. Projects | ||||
Series 2020 | ||||
09/15/2040 | 5.000% | 1,050,000 | 1,191,630 | |
Florida Development Finance Corp.(d),(e) | ||||
Revenue Bonds | ||||
Green Bonds - Brightline Florida Passenger Rail Project | ||||
Series 2020 | ||||
01/01/2049 | 7.375% | 5,000,000 | 5,521,147 | |
Greater Orlando Aviation Authority(d) | ||||
Revenue Bonds | ||||
Series 2016A | ||||
10/01/2046 | 5.000% | 5,000,000 | 6,001,081 | |
Hillsborough County Aviation Authority(d) | ||||
Revenue Bonds | ||||
Tampa International Airport | ||||
Subordinated Series 2018 | ||||
10/01/2048 | 5.000% | 3,450,000 | 4,248,600 |
12 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Miami-Dade County Educational Facilities Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
04/01/2053 | 5.000% | 8,000,000 | 9,646,607 | |
Miami-Dade County Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Nicklaus Childrens Hospital | ||||
Series 2017 | ||||
08/01/2047 | 4.000% | 2,250,000 | 2,563,094 | |
Mid-Bay Bridge Authority | ||||
Refunding Revenue Bonds | ||||
Series 2015C | ||||
10/01/2040 | 5.000% | 1,000,000 | 1,131,594 | |
Orange County Health Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Mayflower Retirement Center | ||||
Series 2012 | ||||
06/01/2036 | 5.000% | 250,000 | 250,577 | |
Revenue Bonds | ||||
Presbyterian Retirement Communities | ||||
Series 2016 | ||||
08/01/2036 | 5.000% | 2,000,000 | 2,217,465 | |
08/01/2041 | 5.000% | 2,000,000 | 2,215,031 | |
Palm Beach County Health Facilities Authority | ||||
Revenue Bonds | ||||
ACTS Retirement | ||||
Series 2020B | ||||
11/15/2041 | 4.000% | 500,000 | 585,023 | |
Polk County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Carpenter’s Home Estates | ||||
Series 2019 | ||||
01/01/2049 | 5.000% | 2,350,000 | 2,621,519 | |
Putnam County Development Authority | ||||
Refunding Revenue Bonds | ||||
Seminole Project | ||||
Series 2018A | ||||
03/15/2042 | 5.000% | 3,335,000 | 4,050,864 | |
Seminole County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Legacy Pointe at UCF Project | ||||
Series 2019 | ||||
11/15/2039 | 5.250% | 5,030,000 | 5,631,291 | |
11/15/2049 | 5.500% | 2,300,000 | 2,578,662 | |
Total | 109,625,291 | |||
Georgia 2.2% | ||||
Brookhaven Development Authority | ||||
Revenue Bonds | ||||
Children’s Healthcare of Atlanta | ||||
Series 2019 | ||||
07/01/2044 | 4.000% | 7,000,000 | 8,273,801 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Burke County Development Authority | ||||
Revenue Bonds | ||||
Georgia Power Co. Plant Vogtle Project | ||||
Series 2019 (Mandatory Put 05/25/23) | ||||
10/01/2032 | 2.250% | 1,800,000 | 1,863,354 | |
Cherokee County Water & Sewer Authority | ||||
Unrefunded Revenue Bonds | ||||
Series 1995 (NPFGC) | ||||
08/01/2025 | 5.200% | 2,665,000 | 3,018,123 | |
City of Atlanta Department of Aviation(d) | ||||
Revenue Bonds | ||||
Airport | ||||
Series 2019B | ||||
07/01/2037 | 4.000% | 8,930,000 | 10,580,164 | |
Subordinated Series 2019 | ||||
07/01/2040 | 4.000% | 2,500,000 | 2,944,235 | |
Dalton Whitfield County Joint Development Authority | ||||
Revenue Bonds | ||||
Hamilton Health Care System Obligation | ||||
Series 2017 | ||||
08/15/2041 | 4.000% | 1,000,000 | 1,142,828 | |
Floyd County Development Authority | ||||
Revenue Bonds | ||||
Spires Berry College Project | ||||
Series 2018 | ||||
12/01/2048 | 6.250% | 2,000,000 | 2,010,491 | |
Fulton County Development Authority | ||||
Revenue Bonds | ||||
RAC Series 2017 | ||||
04/01/2042 | 5.000% | 1,000,000 | 1,203,939 | |
Gainesville & Hall County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Northeast Georgia Health System, Inc. Project | ||||
Series 2017 | ||||
02/15/2037 | 5.000% | 4,280,000 | 5,150,040 | |
Georgia Housing & Finance Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
12/01/2040 | 3.050% | 1,000,000 | 1,076,494 | |
Revenue Bonds | ||||
Single Family Mortgage Bonds | ||||
Series 2017C | ||||
06/01/2048 | 3.750% | 4,495,000 | 4,808,410 | |
Main Street Natural Gas, Inc. | ||||
Revenue Bonds | ||||
Series 2019B (Mandatory Put 12/02/24) | ||||
08/01/2049 | 4.000% | 7,400,000 | 8,232,254 | |
Series 2019C (Mandatory Put 09/01/26) | ||||
03/01/2050 | 4.000% | 7,500,000 | 8,694,523 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 13 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Oconee County Industrial Development Authority | ||||
Revenue Bonds | ||||
Presbyterian Village Athens Project | ||||
Series 2018 | ||||
12/01/2038 | 6.125% | 3,515,000 | 3,628,605 | |
12/01/2048 | 6.250% | 1,960,000 | 2,016,560 | |
Total | 64,643,821 | |||
Guam 0.1% | ||||
Territory of Guam(h),(i) | ||||
Refunding Revenue Bonds | ||||
Series 2021F | ||||
01/01/2036 | 4.000% | 2,750,000 | 3,222,914 | |
Hawaii 0.3% | ||||
City & County of Honolulu | ||||
Unlimited General Obligation Bonds | ||||
Honolulu Rail Transit Project | ||||
Series 2019 | ||||
09/01/2030 | 5.000% | 6,000,000 | 7,703,972 | |
State of Hawaii Department of Budget & Finance | ||||
Refunding Revenue Bonds | ||||
Special Purpose - Kahala Nui | ||||
Series 2012 | ||||
11/15/2037 | 5.250% | 705,000 | 740,381 | |
Total | 8,444,353 | |||
Idaho 0.2% | ||||
Idaho Health Facilities Authority | ||||
Revenue Bonds | ||||
Terraces of Boise Project | ||||
Series 2014A | ||||
10/01/2044 | 8.000% | 4,365,000 | 3,809,382 | |
10/01/2049 | 8.125% | 1,635,000 | 1,427,811 | |
Total | 5,237,193 | |||
Illinois 9.0% | ||||
Chicago Board of Education | ||||
Special Tax Bonds | ||||
Series 2017 | ||||
04/01/2042 | 5.000% | 1,600,000 | 1,907,339 | |
Unlimited General Obligation Bonds | ||||
Dedicated | ||||
Series 2017H | ||||
12/01/2046 | 5.000% | 3,000,000 | 3,615,551 | |
Project | ||||
Series 2015C | ||||
12/01/2039 | 5.250% | 2,000,000 | 2,249,401 | |
Series 2018 | ||||
12/01/2046 | 5.000% | 2,500,000 | 3,079,642 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2021A | ||||
12/01/2035 | 5.000% | 2,560,000 | 3,321,902 | |
12/01/2040 | 5.000% | 1,000,000 | 1,284,487 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A (AGM) | ||||
12/01/2034 | 5.000% | 500,000 | 626,713 | |
Chicago Board of Education(e) | ||||
Unlimited General Obligation Bonds | ||||
Dedicated | ||||
Series 2017A | ||||
12/01/2046 | 7.000% | 3,615,000 | 4,808,834 | |
Chicago Board of Education(f) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2019A | ||||
12/01/2025 | 0.000% | 2,000,000 | 1,902,752 | |
Chicago Midway International Airport | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2013B | ||||
01/01/2035 | 5.250% | 3,000,000 | 3,203,921 | |
Series 2014B | ||||
01/01/2035 | 5.000% | 5,000,000 | 5,544,426 | |
Chicago O’Hare International Airport(d) | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2018 | ||||
01/01/2037 | 5.000% | 2,000,000 | 2,503,124 | |
Revenue Bonds | ||||
General Senior Lien | ||||
Series 2017D | ||||
01/01/2042 | 5.000% | 8,895,000 | 10,621,373 | |
01/01/2052 | 5.000% | 8,030,000 | 9,607,012 | |
Senior Lien | ||||
Series 2017G | ||||
01/01/2042 | 5.000% | 2,650,000 | 3,164,321 | |
01/01/2047 | 5.000% | 1,000,000 | 1,195,639 | |
Series 2017J | ||||
01/01/2037 | 5.000% | 2,000,000 | 2,399,015 | |
TriPs Obligated Group | ||||
Series 2018 | ||||
07/01/2038 | 5.000% | 1,000,000 | 1,207,575 | |
07/01/2048 | 5.000% | 800,000 | 961,070 | |
Chicago O’Hare International Airport | ||||
Revenue Bonds | ||||
Customer Facility Charge Senior Lien | ||||
Series 2013 | ||||
01/01/2043 | 5.750% | 2,285,000 | 2,449,635 | |
Series 2015D | ||||
01/01/2046 | 5.000% | 4,390,000 | 5,034,776 |
14 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Chicago Park District | ||||
Limited General Obligation Bonds | ||||
Series 2016A | ||||
01/01/2040 | 5.000% | 1,650,000 | 1,900,949 | |
City of Chicago Wastewater Transmission | ||||
Refunding Revenue Bonds | ||||
2nd Lien | ||||
Series 2015C | ||||
01/01/2039 | 5.000% | 530,000 | 605,717 | |
Revenue Bonds | ||||
2nd Lien | ||||
Series 2012 | ||||
01/01/2025 | 5.000% | 5,000,000 | 5,101,445 | |
01/01/2042 | 5.000% | 5,000,000 | 5,087,793 | |
Series 2014 | ||||
01/01/2034 | 5.000% | 1,000,000 | 1,103,792 | |
01/01/2039 | 5.000% | 2,000,000 | 2,207,583 | |
City of Chicago Waterworks | ||||
Revenue Bonds | ||||
2nd Lien | ||||
Series 2012 | ||||
11/01/2031 | 5.000% | 2,000,000 | 2,109,660 | |
Series 2014 | ||||
11/01/2044 | 5.000% | 650,000 | 734,188 | |
Series 2016 | ||||
11/01/2030 | 5.000% | 10,775,000 | 13,047,644 | |
City of Springfield Electric | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2015 (AGM) | ||||
03/01/2040 | 4.000% | 5,000,000 | 5,384,914 | |
County of Cook | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018 | ||||
11/15/2035 | 5.000% | 900,000 | 1,081,729 | |
Illinois Finance Authority(h) | ||||
Refunding Revenue Bonds | ||||
LEARN Charter School Project Social Bonds | ||||
Series 2021 | ||||
11/01/2051 | 4.000% | 1,000,000 | 1,169,270 | |
Illinois Finance Authority | ||||
Refunding Revenue Bonds | ||||
Northshore University Health System | ||||
Series 2020A | ||||
08/15/2033 | 5.000% | 1,250,000 | 1,659,613 | |
08/15/2037 | 4.000% | 3,000,000 | 3,653,248 | |
Rush University Medical Center | ||||
Series 2015B | ||||
11/15/2039 | 5.000% | 1,810,000 | 2,089,942 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Silver Cross Hospital & Medical Centers | ||||
Series 2015C | ||||
08/15/2035 | 5.000% | 1,500,000 | 1,749,318 | |
University of Chicago | ||||
Series 2021A | ||||
10/01/2028 | 5.000% | 2,750,000 | 3,567,421 | |
10/01/2032 | 5.000% | 3,700,000 | 5,207,428 | |
Illinois State Toll Highway Authority | ||||
Refunding Senior Revenue Bonds | ||||
Series 2019B | ||||
01/01/2031 | 5.000% | 3,500,000 | 4,621,325 | |
Metropolitan Pier & Exposition Authority(f) | ||||
Refunding Revenue Bonds | ||||
Capital Appreciation - McCormick Place Expansion | ||||
Series 2002A (BAM) | ||||
12/15/2054 | 0.000% | 5,000,000 | 2,206,717 | |
Revenue Bonds | ||||
Capital Appreciation - McCormick Place Expansion | ||||
Series 2002A (AGM) | ||||
12/15/2040 | 0.000% | 10,000,000 | 6,634,787 | |
McCormick Place Expansion | ||||
Series 2017 | ||||
12/15/2056 | 0.000% | 11,110,000 | 4,430,454 | |
McCormick Place Expansion Project | ||||
Series 2017A (AGM) | ||||
12/15/2056 | 0.000% | 10,000,000 | 4,202,274 | |
Metropolitan Pier & Exposition Authority(f),(h) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
12/15/2035 | 0.000% | 1,200,000 | 855,549 | |
12/15/2036 | 0.000% | 2,500,000 | 1,724,632 | |
Metropolitan Pier & Exposition Authority(h) | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion | ||||
Series 2022 | ||||
12/15/2047 | 4.000% | 2,000,000 | 2,302,894 | |
06/15/2052 | 4.000% | 3,000,000 | 3,441,046 | |
Metropolitan Pier & Exposition Authority | ||||
Refunding Revenue Bonds | ||||
McCormick Place Expansion Project | ||||
Series 2020 | ||||
06/15/2050 | 4.000% | 2,400,000 | 2,764,070 | |
Revenue Bonds | ||||
McCormick Place Expansion Project | ||||
Series 2017 | ||||
06/15/2057 | 5.000% | 3,025,000 | 3,629,331 | |
State of Illinois | ||||
Unlimited General Obligation Bonds | ||||
Rebuild Illinois Program | ||||
Series 2019B | ||||
11/01/2038 | 4.000% | 5,000,000 | 5,867,940 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 15 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2013 | ||||
07/01/2026 | 5.500% | 1,955,000 | 2,139,429 | |
07/01/2033 | 5.500% | 5,000,000 | 5,426,610 | |
07/01/2038 | 5.500% | 875,000 | 946,595 | |
Series 2016 | ||||
01/01/2026 | 5.000% | 2,965,000 | 3,530,357 | |
11/01/2027 | 5.000% | 2,785,000 | 3,361,286 | |
Series 2017A | ||||
12/01/2035 | 5.000% | 1,345,000 | 1,632,321 | |
12/01/2036 | 5.000% | 5,000,000 | 6,057,489 | |
Series 2018A | ||||
05/01/2032 | 5.000% | 2,500,000 | 3,090,690 | |
05/01/2033 | 5.000% | 5,000,000 | 6,166,680 | |
05/01/2039 | 5.000% | 4,320,000 | 5,249,398 | |
05/01/2040 | 5.000% | 6,005,000 | 7,283,659 | |
05/01/2041 | 5.000% | 6,000,000 | 7,259,797 | |
Series 2018B | ||||
05/01/2027 | 5.000% | 4,950,000 | 6,087,447 | |
Series 2019B | ||||
11/01/2034 | 4.000% | 8,795,000 | 10,399,689 | |
Series 2020 | ||||
05/01/2039 | 5.500% | 2,700,000 | 3,539,826 | |
05/01/2045 | 5.750% | 1,750,000 | 2,302,050 | |
Series 2021A | ||||
03/01/2032 | 5.000% | 3,245,000 | 4,278,271 | |
03/01/2041 | 4.000% | 4,650,000 | 5,526,002 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2018-A | ||||
10/01/2031 | 5.000% | 2,500,000 | 3,129,650 | |
Total | 258,238,427 | |||
Indiana 0.1% | ||||
City of Whiting(d) | ||||
Refunding Revenue Bonds | ||||
BP Products North America | ||||
Series 2019 (Mandatory Put 06/05/26) | ||||
12/01/2044 | 5.000% | 3,200,000 | 3,890,991 | |
Iowa 1.6% | ||||
Iowa Finance Authority | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
Genesis Health System | ||||
Series 2013 | ||||
07/01/2033 | 5.000% | 5,000,000 | 5,452,513 | |
Revenue Bonds | ||||
Council Bluffs, Inc. Project | ||||
Series 2018 | ||||
08/01/2048 | 5.125% | 1,750,000 | 1,838,371 | |
Lifespace Communities, Inc. | ||||
Series 2018A | ||||
05/15/2043 | 5.000% | 5,000,000 | 5,842,000 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020A (GNMA) | ||||
01/01/2040 | 2.700% | 5,000,000 | 5,341,961 | |
Iowa Tobacco Settlement Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2021B-2 | ||||
06/01/2065 | 0.000% | 40,000,000 | 7,588,264 | |
PEFA, Inc. | ||||
Revenue Bonds | ||||
Series 2019 (Mandatory Put 09/01/26) | ||||
09/01/2049 | 5.000% | 16,455,000 | 19,893,422 | |
Total | 45,956,531 | |||
Kansas 0.5% | ||||
University of Kansas Hospital Authority | ||||
Improvement Refunding Revenue Bonds | ||||
Kansas University Health System | ||||
Series 2015 | ||||
09/01/2045 | 5.000% | 3,725,000 | 4,317,559 | |
Refunding Revenue Bonds | ||||
University of Kansas Health System | ||||
Series 2019 | ||||
03/01/2036 | 4.000% | 2,750,000 | 3,339,612 | |
03/01/2037 | 4.000% | 2,500,000 | 3,023,031 | |
03/01/2038 | 4.000% | 2,500,000 | 3,011,779 | |
Total | 13,691,981 | |||
Kentucky 0.3% | ||||
Kentucky Economic Development Finance Authority | ||||
Refunding Revenue Bonds | ||||
Owensboro Health System | ||||
Series 2017A | ||||
06/01/2037 | 5.000% | 1,200,000 | 1,417,148 | |
Kentucky Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Forward Delivery Prairie State Project | ||||
Series 2020 | ||||
09/01/2034 | 5.000% | 1,035,000 | 1,302,457 | |
Kentucky Public Energy Authority | ||||
Revenue Bonds | ||||
Series 2020A (Mandatory Put 06/01/26) | ||||
12/01/2050 | 4.000% | 4,000,000 | 4,624,683 | |
Kentucky State Property & Building Commission | ||||
Revenue Bonds | ||||
Project #119 | ||||
Series 2018 | ||||
05/01/2036 | 5.000% | 1,000,000 | 1,234,883 | |
Total | 8,579,171 |
16 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Louisiana 0.4% | ||||
Ascension Parish Industrial Development Board, Inc. | ||||
Revenue Bonds | ||||
Impala Warehousing LLC | ||||
Series 2011 | ||||
07/01/2036 | 6.000% | 3,950,000 | 4,194,137 | |
Louisiana Public Facilities Authority | ||||
Refunding Revenue Bonds | ||||
19th Judicial District Court | ||||
Series 2015 (AGM) | ||||
06/01/2036 | 5.000% | 1,000,000 | 1,163,149 | |
Ochsner Clinic Foundation Project | ||||
Series 2017 | ||||
05/15/2042 | 5.000% | 2,000,000 | 2,403,991 | |
Revenue Bonds | ||||
Provident Group - Flagship Properties | ||||
Series 2017 | ||||
07/01/2057 | 5.000% | 1,500,000 | 1,775,384 | |
New Orleans Aviation Board(d) | ||||
Revenue Bonds | ||||
General Airport-North Terminal | ||||
Series 2017B | ||||
01/01/2048 | 5.000% | 1,275,000 | 1,514,875 | |
Parish of St. James(e) | ||||
Revenue Bonds | ||||
NuStar Logistics LP Project | ||||
Series 2020-2 | ||||
07/01/2040 | 6.350% | 1,250,000 | 1,687,980 | |
Total | 12,739,516 | |||
Maryland 2.0% | ||||
County of Prince George’s | ||||
Limited General Obligation Bonds | ||||
Series 2021A | ||||
07/01/2032 | 4.000% | 8,775,000 | 11,273,780 | |
Maryland Community Development Administration | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
09/01/2039 | 3.200% | 7,475,000 | 8,118,484 | |
Revenue Bonds | ||||
Series 2019C | ||||
09/01/2039 | 3.000% | 7,500,000 | 8,027,876 | |
Maryland Economic Development Corp. | ||||
Tax Allocation Bonds | ||||
Port Covington Project | ||||
Series 2020 | ||||
09/01/2040 | 4.000% | 875,000 | 1,026,118 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Maryland Health & Higher Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Meritus Medical Center Issue | ||||
Series 2015 | ||||
07/01/2040 | 5.000% | 1,200,000 | 1,366,812 | |
Revenue Bonds | ||||
University of Maryland Medical System | ||||
Series 2017 | ||||
07/01/2048 | 4.000% | 3,665,000 | 4,175,034 | |
State of Maryland | ||||
Unlimited General Obligation Bonds | ||||
Series 2017A | ||||
03/15/2026 | 5.000% | 2,845,000 | 3,455,211 | |
State and Local Facilities | ||||
Series 2020A | ||||
03/15/2032 | 5.000% | 15,000,000 | 20,107,812 | |
Total | 57,551,127 | |||
Massachusetts 1.5% | ||||
Commonwealth of Massachusetts | ||||
Refunding Revenue Bonds | ||||
Series 2005 (NPFGC) | ||||
01/01/2027 | 5.500% | 500,000 | 625,633 | |
Massachusetts Development Finance Agency | ||||
Refunding Revenue Bonds | ||||
UMass Memorial Healthcare | ||||
Series 2017 | ||||
07/01/2044 | 4.000% | 7,500,000 | 8,489,965 | |
Revenue Bonds | ||||
Series 2021V | ||||
07/01/2055 | 5.000% | 2,000,000 | 3,295,496 | |
UMass Boston Student Housing Project | ||||
Series 2016 | ||||
10/01/2041 | 5.000% | 2,000,000 | 2,281,184 | |
Massachusetts Educational Financing Authority(d) | ||||
Refunding Revenue Bonds | ||||
Issue K | ||||
Series 2017A | ||||
07/01/2026 | 5.000% | 1,650,000 | 1,987,680 | |
Subordinated Series 2017B | ||||
07/01/2046 | 4.250% | 3,000,000 | 3,222,782 | |
Massachusetts Port Authority(d) | ||||
Refunding Revenue Bonds | ||||
BosFuel Project | ||||
Series 2019A | ||||
07/01/2044 | 4.000% | 1,500,000 | 1,741,441 | |
Series 2019A | ||||
Series 2019 | ||||
07/01/2031 | 5.000% | 7,065,000 | 9,056,941 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 17 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Series 2019C | ||||
07/01/2044 | 5.000% | 10,000,000 | 12,452,073 | |
Total | 43,153,195 | |||
Michigan 3.3% | ||||
City of Detroit | ||||
Unlimited General Obligation Bonds | ||||
Social Bonds | ||||
Series 2021A | ||||
04/01/2031 | 5.000% | 425,000 | 542,447 | |
04/01/2032 | 5.000% | 300,000 | 380,567 | |
04/01/2033 | 5.000% | 400,000 | 505,703 | |
04/01/2034 | 5.000% | 400,000 | 503,980 | |
04/01/2035 | 5.000% | 350,000 | 439,993 | |
04/01/2036 | 5.000% | 600,000 | 751,712 | |
04/01/2037 | 5.000% | 700,000 | 874,382 | |
City of Detroit Sewage Disposal System | ||||
Prerefunded 07/01/22 Revenue Bonds | ||||
Senior Lien | ||||
Series 2012A | ||||
07/01/2039 | 5.250% | 1,700,000 | 1,780,352 | |
Grand Traverse County Hospital Finance Authority | ||||
Revenue Bonds | ||||
Munson Healthcare | ||||
Series 2014A | ||||
07/01/2047 | 5.000% | 505,000 | 567,597 | |
Great Lakes Water Authority Water Supply System | ||||
Revenue Bonds | ||||
2nd Lien | ||||
Series 2016B | ||||
07/01/2046 | 5.000% | 6,615,000 | 7,873,682 | |
Michigan Finance Authority | ||||
Refunding Revenue Bonds | ||||
Senior Lien - Great Lakes Water Authority | ||||
Series 2014C-6 | ||||
07/01/2033 | 5.000% | 430,000 | 486,634 | |
Series 2015 | ||||
11/15/2045 | 5.000% | 1,220,000 | 1,397,390 | |
Trinity Health Corp. | ||||
Series 2017 | ||||
12/01/2042 | 5.000% | 500,000 | 619,344 | |
Trinity Health Credit Group | ||||
Series 2019 | ||||
12/01/2036 | 4.000% | 3,000,000 | 3,641,268 | |
Revenue Bonds | ||||
Beaumont Health Credit Group | ||||
Series 2016S | ||||
11/01/2044 | 5.000% | 7,500,000 | 8,765,294 | |
Henry Ford Health System | ||||
Series 2019A | ||||
11/15/2048 | 5.000% | 1,320,000 | 1,675,991 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Local Government Loan Program - Great Lakes Water Authority | ||||
Series 2015 | ||||
07/01/2034 | 5.000% | 1,000,000 | 1,166,417 | |
07/01/2035 | 5.000% | 5,000,000 | 5,829,975 | |
Michigan State Hospital Finance Authority | ||||
Refunding Revenue Bonds | ||||
Ascension Health Senior Care Group | ||||
Series 2010F-4 | ||||
11/15/2047 | 5.000% | 835,000 | 1,068,368 | |
Michigan State Housing Development Authority | ||||
Revenue Bonds | ||||
Series 2018A | ||||
12/01/2033 | 3.600% | 370,000 | 407,553 | |
10/01/2043 | 4.000% | 2,300,000 | 2,549,770 | |
Series 2019A-1 | ||||
10/01/2044 | 3.250% | 1,500,000 | 1,624,793 | |
Series 2019B | ||||
12/01/2044 | 3.100% | 6,000,000 | 6,394,022 | |
U.S. Department of Housing and Urban Development | ||||
Series 2017A | ||||
10/01/2042 | 3.750% | 4,060,000 | 4,394,999 | |
10/01/2047 | 3.850% | 5,000,000 | 5,410,632 | |
Michigan Strategic Fund(d) | ||||
Revenue Bonds | ||||
I-75 Improvement Project | ||||
Series 2018 | ||||
12/31/2043 | 5.000% | 15,500,000 | 18,925,852 | |
Muskegon Public Schools(h) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021-II | ||||
05/01/2051 | 5.000% | 7,300,000 | 9,448,560 | |
Wayne County Airport Authority | ||||
Revenue Bonds | ||||
Series 2015D | ||||
12/01/2045 | 5.000% | 6,455,000 | 7,625,501 | |
Wayne County Airport Authority(d) | ||||
Revenue Bonds | ||||
Series 2017B | ||||
12/01/2042 | 5.000% | 700,000 | 855,100 | |
Total | 96,507,878 | |||
Minnesota 2.5% | ||||
City of Blaine | ||||
Refunding Revenue Bonds | ||||
Crest View Senior Community Project | ||||
Series 2015 | ||||
07/01/2050 | 6.125% | 3,000,000 | 2,969,716 | |
City of Brooklyn Center | ||||
Revenue Bonds | ||||
Sanctuary Brooklyn Center Project | ||||
Series 2016 | ||||
11/01/2035 | 5.500% | 985,000 | 979,336 |
18 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Forest Lake | ||||
Revenue Bonds | ||||
Lakes International Language Academy | ||||
Series 2019 | ||||
08/01/2036 | 5.000% | 835,000 | 966,451 | |
08/01/2043 | 5.250% | 500,000 | 578,643 | |
City of North Oaks | ||||
Refunding Revenue Bonds | ||||
Waverly Gardens Project | ||||
Series 2016 | ||||
10/01/2047 | 5.000% | 4,000,000 | 4,443,455 | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2044 | 4.000% | 1,500,000 | 1,580,295 | |
County of Hennepin | ||||
Unlimited General Obligation Bonds | ||||
Series 2020C | ||||
12/15/2035 | 5.000% | 8,980,000 | 11,845,324 | |
Duluth Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Essentia Health Obligation Group | ||||
Series 2018 | ||||
02/15/2048 | 4.250% | 6,500,000 | 7,499,268 | |
02/15/2053 | 5.000% | 8,000,000 | 9,677,370 | |
Essential Health Obligated Group | ||||
Series 2018 | ||||
02/15/2043 | 5.000% | 2,000,000 | 2,439,555 | |
Hastings Independent School District No. 200(f) | ||||
Unlimited General Obligation Bonds | ||||
Student Credit Enhancement Program School Building | ||||
Series 2018A | ||||
02/01/2031 | 0.000% | 2,340,000 | 1,934,153 | |
02/01/2034 | 0.000% | 1,565,000 | 1,137,204 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Prerefunded 11/15/25 Revenue Bonds | ||||
HealthEast Care System Project | ||||
Series 2015 | ||||
11/15/2040 | 5.000% | 400,000 | 478,250 | |
Minneapolis-St. Paul Metropolitan Airports Commission(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2016D | ||||
01/01/2041 | 5.000% | 750,000 | 895,304 | |
Minnesota Higher Education Facilities Authority | ||||
Prerefunded 10/01/21 Revenue Bonds | ||||
Hamline University | ||||
7th Series 2011K2 | ||||
10/01/2040 | 6.000% | 2,250,000 | 2,271,153 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
St. Cloud Housing & Redevelopment Authority(g) | ||||
Revenue Bonds | ||||
Sanctuary St. Cloud Project | ||||
Series 2016A | ||||
08/01/2036 | 0.000% | 2,845,000 | 2,502,576 | |
State of Minnesota | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
08/01/2029 | 5.000% | 14,070,000 | 18,797,427 | |
Total | 70,995,480 | |||
Mississippi 0.1% | ||||
State of Mississippi | ||||
Unlimited General Obligation Bonds | ||||
Series 2021A | ||||
06/01/2031 | 5.000% | 1,500,000 | 2,005,544 | |
Missouri 2.0% | ||||
Cape Girardeau County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
SoutheastHEALTH | ||||
Series 2017 | ||||
03/01/2036 | 5.000% | 750,000 | 885,324 | |
Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Mosaic Health System | ||||
Series 2019 | ||||
02/15/2044 | 4.000% | 2,000,000 | 2,324,402 | |
Health & Educational Facilities Authority of the State of Missouri | ||||
Refunding Revenue Bonds | ||||
Mercy Health | ||||
Series 2017C | ||||
11/15/2036 | 4.000% | 1,500,000 | 1,740,137 | |
Revenue Bonds | ||||
Lutheran Senior Services | ||||
Series 2014 | ||||
02/01/2044 | 5.000% | 2,275,000 | 2,460,497 | |
Medical Research Lutheran Services | ||||
Series 2016A | ||||
02/01/2036 | 5.000% | 1,000,000 | 1,150,161 | |
Kansas City Industrial Development Authority(d) | ||||
Revenue Bonds | ||||
Kansas City International Airport | ||||
Series 2019 | ||||
03/01/2044 | 5.000% | 12,500,000 | 15,464,012 | |
Series 2020A | ||||
03/01/2036 | 4.000% | 1,675,000 | 1,996,734 | |
03/01/2045 | 4.000% | 16,000,000 | 18,693,154 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 19 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Kirkwood Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Aberdeen Heights Project | ||||
Series 2017 | ||||
05/15/2042 | 5.250% | 1,260,000 | 1,440,347 | |
05/15/2050 | 5.250% | 500,000 | 564,967 | |
Missouri Housing Development Commission | ||||
Revenue Bonds | ||||
First Place Homeownership Loan Program | ||||
Series 2020A (GNMA) | ||||
05/01/2050 | 2.850% | 1,105,000 | 1,157,715 | |
Missouri Joint Municipal Electric Utility Commission | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
12/01/2041 | 4.000% | 5,000,000 | 5,535,105 | |
St. Louis County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
St. Andrew’s Resources for Seniors Obligated Group | ||||
Series 2015 | ||||
12/01/2035 | 5.000% | 1,500,000 | 1,671,120 | |
Revenue Bonds | ||||
Friendship Village Sunset Hills | ||||
Series 2012 | ||||
09/01/2032 | 5.000% | 1,120,000 | 1,161,372 | |
09/01/2042 | 5.000% | 2,000,000 | 2,061,673 | |
Total | 58,306,720 | |||
Montana 0.1% | ||||
City of Kalispell | ||||
Refunding Revenue Bonds | ||||
Immanuel Lutheran Corp. Project | ||||
Series 2017 | ||||
05/15/2052 | 5.250% | 520,000 | 568,071 | |
Montana Board of Housing | ||||
Revenue Bonds | ||||
Series 2017B-2 | ||||
12/01/2042 | 3.500% | 460,000 | 492,140 | |
12/01/2047 | 3.600% | 590,000 | 631,011 | |
Total | 1,691,222 | |||
Nebraska 1.2% | ||||
Douglas County Hospital Authority No. 2 | ||||
Revenue Bonds | ||||
Madonna Rehabilitation Hospital | ||||
Series 2014 | ||||
05/15/2044 | 5.000% | 4,350,000 | 4,769,426 | |
Douglas County Hospital Authority No. 3 | ||||
Refunding Revenue Bonds | ||||
Health Facilities - Nebraska Methodist Health System | ||||
Series 2015 | ||||
11/01/2036 | 4.125% | 2,000,000 | 2,238,261 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Nebraska Educational Health Cultural & Social Services Finance Authority | ||||
Refunding Revenue Bonds | ||||
Immanuel Obligated Group | ||||
Series 2019 | ||||
01/01/2037 | 4.000% | 1,000,000 | 1,140,186 | |
01/01/2038 | 4.000% | 1,300,000 | 1,482,228 | |
01/01/2039 | 4.000% | 1,810,000 | 2,063,584 | |
01/01/2044 | 4.000% | 15,000,000 | 17,057,757 | |
Nebraska Investment Finance Authority | ||||
Revenue Bonds | ||||
Series 2019D | ||||
09/01/2039 | 2.850% | 5,000,000 | 5,324,806 | |
09/01/2042 | 3.050% | 1,360,000 | 1,405,655 | |
Total | 35,481,903 | |||
Nevada 0.3% | ||||
Carson City | ||||
Prerefunded 09/01/22 Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2012 | ||||
09/01/2033 | 5.000% | 2,600,000 | 2,730,807 | |
City of Carson City | ||||
Refunding Revenue Bonds | ||||
Carson Tahoe Regional Medical Center | ||||
Series 2017 | ||||
09/01/2042 | 5.000% | 845,000 | 1,022,387 | |
Clark County School District | ||||
Limited General Obligation Bonds | ||||
Series 2020A (AGM) | ||||
06/15/2037 | 4.000% | 850,000 | 1,027,154 | |
06/15/2040 | 4.000% | 1,225,000 | 1,470,517 | |
State of Nevada Department of Business & Industry(e) | ||||
Revenue Bonds | ||||
Somerset Academy | ||||
Series 2015A | ||||
12/15/2035 | 5.000% | 570,000 | 641,912 | |
Series 2018A | ||||
12/15/2038 | 5.000% | 415,000 | 465,139 | |
Total | 7,357,916 | |||
New Hampshire 0.2% | ||||
New Hampshire Business Finance Authority(d) | ||||
Refunding Revenue Bonds | ||||
Waste Management, Inc. Project | ||||
Series 2019 (Mandatory Put 07/01/24) | ||||
07/01/2027 | 2.150% | 3,000,000 | 3,147,141 | |
New Hampshire Business Finance Authority(e) | ||||
Revenue Bonds | ||||
The Vista Project | ||||
Series 2019A | ||||
07/01/2046 | 5.625% | 2,000,000 | 2,138,424 |
20 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Hampshire Health & Education Facilities Authority Act | ||||
Refunding Revenue Bonds | ||||
Elliot Hospital | ||||
Series 2016 | ||||
10/01/2038 | 5.000% | 850,000 | 1,007,284 | |
Total | 6,292,849 | |||
New Jersey 5.7% | ||||
City of Atlantic City | ||||
Unlimited General Obligation Bonds | ||||
Tax Appeal | ||||
Series 2017B (AGM) | ||||
03/01/2037 | 5.000% | 340,000 | 410,262 | |
03/01/2042 | 4.000% | 1,250,000 | 1,414,005 | |
Unlimited General Obligation Refunding Bonds | ||||
Build America Mutual Assurance Co. Tax Appeal | ||||
Series 2017A | ||||
03/01/2042 | 5.000% | 1,000,000 | 1,197,470 | |
Garden State Preservation Trust(f) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 2003B (AGM) | ||||
11/01/2022 | 0.000% | 10,000,000 | 9,931,748 | |
New Jersey Economic Development Authority | ||||
Prerefunded 06/15/25 Revenue Bonds | ||||
Series 2015WW | ||||
06/15/2040 | 5.250% | 20,000 | 23,846 | |
Refunding Revenue Bonds | ||||
Series 2015XX | ||||
06/15/2024 | 5.000% | 2,000,000 | 2,263,912 | |
Subordinated Series 2017A | ||||
07/01/2030 | 3.375% | 2,000,000 | 2,132,772 | |
Revenue Bonds | ||||
School Facilities Construction | ||||
Series 2019 | ||||
06/15/2044 | 5.000% | 1,800,000 | 2,257,666 | |
Self-Designated Social Bonds | ||||
Series 2021 | ||||
06/15/2046 | 4.000% | 1,500,000 | 1,774,356 | |
Series 2017DDD | ||||
06/15/2042 | 5.000% | 1,000,000 | 1,201,769 | |
Transportation Project | ||||
Series 2020 | ||||
11/01/2044 | 5.000% | 3,000,000 | 3,752,386 | |
Unrefunded Revenue Bonds | ||||
Series 2015WW | ||||
06/15/2040 | 5.250% | 355,000 | 414,437 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Jersey Economic Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
New Jersey Natural Gas Co. Project | ||||
Series 2019 | ||||
08/01/2041 | 3.000% | 6,000,000 | 6,173,146 | |
New Jersey Educational Facilities Authority | ||||
Revenue Bonds | ||||
Green Bonds | ||||
Series 2020A | ||||
07/01/2038 | 5.000% | 1,980,000 | 2,534,553 | |
07/01/2039 | 5.000% | 2,080,000 | 2,656,299 | |
07/01/2045 | 5.000% | 700,000 | 881,216 | |
New Jersey Higher Education Student Assistance Authority(d) | ||||
Revenue Bonds | ||||
Series 2018A | ||||
12/01/2034 | 4.000% | 385,000 | 419,427 | |
12/01/2035 | 4.000% | 385,000 | 418,924 | |
New Jersey Housing & Mortgage Finance Agency(d) | ||||
Refunding Revenue Bonds | ||||
Series 2017D | ||||
11/01/2037 | 4.250% | 1,525,000 | 1,675,710 | |
Single Family Housing | ||||
Series 2018 | ||||
10/01/2032 | 3.800% | 2,190,000 | 2,398,633 | |
New Jersey Housing & Mortgage Finance Agency | ||||
Refunding Revenue Bonds | ||||
Single Family Housing | ||||
Series 2019C | ||||
10/01/2039 | 3.850% | 3,045,000 | 3,369,683 | |
New Jersey Transportation Trust Fund Authority | ||||
Refunding Revenue Bonds | ||||
Federal Highway Reimbursement | ||||
Series 2018 | ||||
06/15/2030 | 5.000% | 4,000,000 | 4,743,904 | |
Transportation System | ||||
Series 2018A | ||||
12/15/2035 | 5.000% | 5,000,000 | 6,295,175 | |
Series 2019 | ||||
12/15/2033 | 5.000% | 2,850,000 | 3,650,957 | |
12/15/2039 | 5.000% | 1,460,000 | 1,846,426 | |
Revenue Bonds | ||||
Series 2020AA | ||||
06/15/2045 | 4.000% | 4,000,000 | 4,736,235 | |
06/15/2045 | 5.000% | 8,500,000 | 10,827,020 | |
Transportation Program | ||||
Series 2013AA | ||||
06/15/2044 | 5.000% | 8,090,000 | 8,722,886 | |
Series 2015AA | ||||
06/15/2041 | 5.250% | 6,000,000 | 6,996,612 | |
Series 2019 | ||||
06/15/2046 | 5.000% | 3,500,000 | 4,336,383 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 21 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New Jersey Transportation Trust Fund Authority(f) | ||||
Revenue Bonds | ||||
Capital Appreciation Transportation System | ||||
Series 2010A | ||||
12/15/2030 | 0.000% | 6,000,000 | 5,104,303 | |
New Jersey Turnpike Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017B | ||||
01/01/2040 | 5.000% | 1,000,000 | 1,240,798 | |
Series 2017E | ||||
01/01/2032 | 5.000% | 2,500,000 | 3,153,465 | |
Series 2017G | ||||
01/01/2034 | 4.000% | 15,160,000 | 17,932,684 | |
South Jersey Port Corp.(d) | ||||
Revenue Bonds | ||||
Marine Terminal | ||||
Subordinated Series 2017B | ||||
01/01/2048 | 5.000% | 2,900,000 | 3,464,422 | |
State of New Jersey | ||||
Unlimited General Obligation Bonds | ||||
COVID-19 Emergency Bonds | ||||
Series 2020 | ||||
06/01/2030 | 4.000% | 6,900,000 | 8,576,580 | |
06/01/2031 | 4.000% | 18,480,000 | 23,319,234 | |
Tobacco Settlement Financing Corp. | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018B | ||||
06/01/2046 | 5.000% | 2,000,000 | 2,390,919 | |
Total | 164,640,223 | |||
New Mexico 0.2% | ||||
New Mexico Hospital Equipment Loan Council | ||||
Revenue Bonds | ||||
La Vida Expansion Project | ||||
Series 2019 | ||||
07/01/2039 | 5.000% | 1,225,000 | 1,429,551 | |
New Mexico Mortgage Finance Authority | ||||
Revenue Bonds | ||||
Series 2020 (GNMA) | ||||
07/01/2040 | 2.700% | 2,305,000 | 2,466,165 | |
Single Family Mortgage Program | ||||
Series 2019D Class I (GNMA) | ||||
07/01/2044 | 3.250% | 3,060,000 | 3,264,074 | |
Total | 7,159,790 | |||
New York 6.2% | ||||
City of New York | ||||
Limited General Obligation Bonds | ||||
Series 2021L-5 | ||||
04/01/2033 | 5.000% | 3,800,000 | 5,133,692 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Unlimited General Obligation Bonds | ||||
Multi Modal | ||||
Series 2020D-1 | ||||
03/01/2043 | 5.000% | 3,000,000 | 3,836,408 | |
Series 2020C | ||||
08/01/2033 | 5.000% | 1,500,000 | 1,994,312 | |
08/01/2042 | 5.000% | 2,500,000 | 3,234,562 | |
Subordinated Series 2018D-1 | ||||
12/01/2038 | 5.000% | 10,000,000 | 12,695,671 | |
Subordinated Series 2018F-1 | ||||
04/01/2037 | 5.000% | 5,390,000 | 6,719,779 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A-1 | ||||
08/01/2032 | 5.000% | 2,000,000 | 2,669,951 | |
08/01/2034 | 4.000% | 1,000,000 | 1,234,414 | |
Glen Cove Local Economic Assistance Corp.(j) | ||||
Revenue Bonds | ||||
Garvies Point | ||||
Series 2016 CABS | ||||
01/01/2055 | 0.000% | 2,500,000 | 2,686,610 | |
Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2017G | ||||
11/01/2042 | 3.600% | 4,000,000 | 4,322,448 | |
Long Island Power Authority | ||||
Revenue Bonds | ||||
General | ||||
Series 2017 | ||||
09/01/2042 | 5.000% | 2,000,000 | 2,461,789 | |
Metropolitan Transportation Authority(f) | ||||
Refunding Revenue Bonds | ||||
Series 2012A | ||||
11/15/2032 | 0.000% | 2,605,000 | 2,204,633 | |
Metropolitan Transportation Authority | ||||
Revenue Bonds | ||||
BAN Series 2020A-S2 | ||||
02/01/2022 | 4.000% | 5,000,000 | 5,092,331 | |
Green Bonds | ||||
Series 2020C-1 | ||||
11/15/2050 | 5.000% | 10,935,000 | 13,678,505 | |
New York City Housing Development Corp. | ||||
Revenue Bonds | ||||
Sustainable Neighborhood | ||||
Series 2018 | ||||
11/01/2048 | 3.900% | 2,000,000 | 2,171,180 | |
Series 2019 | ||||
11/01/2049 | 3.250% | 7,310,000 | 7,724,712 |
22 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
New York City Transitional Finance Authority | ||||
Refunding Revenue Bonds | ||||
Future Tax Secured | ||||
Subordinated Series 2021 | ||||
11/01/2036 | 4.000% | 1,000,000 | 1,238,612 | |
11/01/2037 | 4.000% | 1,500,000 | 1,850,584 | |
Revenue Bonds | ||||
Future Tax Bonds | ||||
Subordinated Series 2020C | ||||
05/01/2038 | 4.000% | 700,000 | 855,056 | |
05/01/2039 | 4.000% | 1,000,000 | 1,218,457 | |
Future Tax Secured | ||||
Subordinated Series 2017F-1 | ||||
05/01/2036 | 5.000% | 5,170,000 | 6,371,965 | |
Subordinated Series 2020D | ||||
11/01/2042 | 4.000% | 5,000,000 | 6,043,367 | |
New York State Dormitory Authority | ||||
Revenue Bonds | ||||
NYU Langone Hospitals Obligated Group | ||||
Series 2020A | ||||
07/01/2050 | 4.000% | 2,000,000 | 2,361,280 | |
New York State Environmental Facilities Corp.(d),(e) | ||||
Revenue Bonds | ||||
Casella Waste Systems, Inc. | ||||
Series 2019 (Mandatory Put 12/03/29) | ||||
12/01/2044 | 2.875% | 1,000,000 | 1,092,552 | |
New York State Housing Finance Agency | ||||
Revenue Bonds | ||||
Affordable Housing | ||||
Series 2017M | ||||
11/01/2047 | 3.750% | 3,585,000 | 3,860,682 | |
New York Transportation Development Corp.(d) | ||||
Refunding Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2025 | 5.000% | 1,100,000 | 1,310,868 | |
Revenue Bonds | ||||
Delta Air Lines, Inc. Laguardia | ||||
Series 2020 | ||||
10/01/2040 | 5.000% | 12,290,000 | 15,792,738 | |
10/01/2045 | 4.375% | 2,500,000 | 3,006,302 | |
New York State Thruway Service Areas Project | ||||
Series 2021 | ||||
04/30/2053 | 4.000% | 1,500,000 | 1,769,544 | |
New York Transportation Development Corp. | ||||
Refunding Revenue Bonds | ||||
Terminal 4 John F. Kennedy International Airport Project | ||||
Series 2020 | ||||
12/01/2031 | 5.000% | 1,100,000 | 1,476,461 | |
12/01/2032 | 5.000% | 1,400,000 | 1,870,130 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Port Authority of New York & New Jersey(d) | ||||
Refunding Revenue Bonds | ||||
Consolidated 197th | ||||
Series 2016-197 | ||||
11/15/2036 | 5.000% | 2,000,000 | 2,409,662 | |
Consolidated 206th | ||||
Series 2017-206 | ||||
11/15/2047 | 5.000% | 1,500,000 | 1,820,732 | |
Series 2018-207 | ||||
09/15/2032 | 5.000% | 12,235,000 | 15,230,276 | |
Revenue Bonds | ||||
Consolidated Bonds | ||||
Series 221 | ||||
07/15/2045 | 4.000% | 7,775,000 | 9,213,338 | |
State of New York Mortgage Agency | ||||
Refunding Revenue Bonds | ||||
Series 2017-203 | ||||
10/01/2041 | 3.500% | 3,730,000 | 3,972,222 | |
Series 2018-208 | ||||
10/01/2034 | 3.600% | 4,950,000 | 5,435,410 | |
Triborough Bridge & Tunnel Authority | ||||
Revenue Bonds | ||||
MTA Bridges and Tunnels | ||||
Series 2020A | ||||
11/15/2049 | 5.000% | 3,000,000 | 3,902,299 | |
Ulster County Capital Resource Corp.(e) | ||||
Refunding Revenue Bonds | ||||
Woodland Pond at New Paltz | ||||
Series 2017 | ||||
09/15/2042 | 5.250% | 5,095,000 | 5,215,007 | |
09/15/2047 | 5.250% | 1,475,000 | 1,498,024 | |
09/15/2053 | 5.250% | 3,045,000 | 3,082,917 | |
Total | 179,759,482 | |||
North Carolina 1.7% | ||||
Charlotte-Mecklenburg Hospital Authority (The) | ||||
Revenue Bonds | ||||
Atrium Health | ||||
Series 2021 (Mandatory Put 12/01/31) | ||||
01/15/2049 | 5.000% | 3,000,000 | 4,141,108 | |
City of Charlotte Water & Sewer System | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
07/01/2033 | 5.000% | 2,250,000 | 3,021,848 | |
07/01/2034 | 5.000% | 1,900,000 | 2,543,618 | |
North Carolina Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2019-42 | ||||
01/01/2043 | 2.850% | 2,950,000 | 3,099,252 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 23 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
North Carolina Medical Care Commission(h) | ||||
Refunding Revenue Bonds | ||||
Series 2021C | ||||
03/01/2036 | 4.000% | 2,320,000 | 2,546,853 | |
North Carolina Medical Care Commission | ||||
Refunding Revenue Bonds | ||||
Southminster, Inc. | ||||
Series 2016 | ||||
10/01/2037 | 5.000% | 1,800,000 | 1,967,444 | |
United Methodist Retirement | ||||
Series 2017 | ||||
10/01/2042 | 5.000% | 1,100,000 | 1,206,749 | |
Revenue Bonds | ||||
REX Health Care | ||||
Series 2020A | ||||
07/01/2049 | 4.000% | 5,000,000 | 5,785,423 | |
Twin Lakes Community | ||||
Series 2019A | ||||
01/01/2044 | 5.000% | 2,000,000 | 2,320,971 | |
North Carolina Turnpike Authority | ||||
Revenue Bonds | ||||
Senior Lien - Triangle Expressway | ||||
Series 2019 | ||||
01/01/2043 | 5.000% | 5,650,000 | 7,020,058 | |
01/01/2049 | 5.000% | 2,000,000 | 2,463,295 | |
North Carolina Turnpike Authority(f) | ||||
Revenue Bonds | ||||
Series 2017C | ||||
07/01/2032 | 0.000% | 2,000,000 | 1,368,814 | |
Series 2019 | ||||
01/01/2040 | 0.000% | 3,950,000 | 2,494,184 | |
01/01/2041 | 0.000% | 5,500,000 | 3,337,156 | |
Triangle Expressway System | ||||
Series 2019 | ||||
01/01/2043 | 0.000% | 4,500,000 | 2,529,016 | |
State of North Carolina | ||||
Revenue Bonds | ||||
Build NC Programs | ||||
Series 2020B | ||||
05/01/2033 | 5.000% | 2,250,000 | 3,002,956 | |
Total | 48,848,745 | |||
North Dakota 0.3% | ||||
North Dakota Housing Finance Agency | ||||
Revenue Bonds | ||||
Home Mortgage Finance Program | ||||
Series 2018 | ||||
01/01/2042 | 3.850% | 1,175,000 | 1,265,947 | |
Housing Finance Program | ||||
Series 2017 (FHA) | ||||
07/01/2040 | 3.550% | 825,000 | 878,165 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Housing Finance Program-Home Mortgage Finance | ||||
Series 2018 | ||||
07/01/2042 | 3.950% | 2,435,000 | 2,613,238 | |
Series 2019C | ||||
07/01/2039 | 3.200% | 2,275,000 | 2,445,122 | |
Total | 7,202,472 | |||
Ohio 2.3% | ||||
Buckeye Tobacco Settlement Financing Authority | ||||
Refunding Senior Revenue Bonds | ||||
Series 2020B-2 | ||||
06/01/2055 | 5.000% | 22,530,000 | 26,497,562 | |
City of Middleburg Heights | ||||
Prerefunded 08/01/21 Revenue Bonds | ||||
Southwest General Facilities | ||||
Series 2011 | ||||
08/01/2036 | 5.250% | 1,870,000 | 1,870,000 | |
County of Marion | ||||
Refunding Revenue Bonds | ||||
United Church Homes, Inc. | ||||
Series 2019 | ||||
12/01/2039 | 5.000% | 1,650,000 | 1,832,692 | |
Lake County Port & Economic Development Authority(e),(g) | ||||
Revenue Bonds | ||||
1st Mortgage - Tapestry Wickliffe LLC | ||||
Series 2017 | ||||
12/01/2052 | 0.000% | 7,500,000 | 2,662,500 | |
Miami University | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
09/01/2034 | 5.000% | 675,000 | 817,299 | |
Northeast Ohio Regional Sewer District | ||||
Refunding Revenue Bonds | ||||
Series 2019 | ||||
11/15/2037 | 4.000% | 2,000,000 | 2,445,093 | |
Ohio Air Quality Development Authority(d),(j) | ||||
Refunding Revenue Bonds | ||||
American Electric Power Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
12/01/2027 | 2.100% | 2,500,000 | 2,615,220 | |
Ohio Air Quality Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
American Electric Power Co. Project | ||||
Series 2019 (Mandatory Put 10/01/24) | ||||
07/01/2028 | 2.100% | 7,000,000 | 7,323,044 | |
Revenue Bonds | ||||
Ohio Valley Electric Crop. | ||||
Series 2019 (Mandatory Put 10/01/29) | ||||
06/01/2041 | 2.600% | 1,500,000 | 1,593,684 |
24 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Ohio Housing Finance Agency | ||||
Revenue Bonds | ||||
Series 2019B | ||||
09/01/2044 | 3.250% | 3,030,000 | 3,254,490 | |
Ohio Water Development Authority Water Pollution Control | ||||
Revenue Bonds | ||||
Loan Fund | ||||
Series 2020A | ||||
12/01/2050 | 5.000% | 4,000,000 | 5,158,402 | |
Subordinated Series 2020A | ||||
12/01/2037 | 5.000% | 6,690,000 | 8,877,358 | |
State of Ohio | ||||
Refunding Revenue Bonds | ||||
Cleveland Clinic Health System | ||||
Series 2017 | ||||
01/01/2036 | 4.000% | 1,500,000 | 1,766,010 | |
Total | 66,713,354 | |||
Oklahoma 0.1% | ||||
Tulsa County Industrial Authority | ||||
Refunding Revenue Bonds | ||||
Montereau, Inc. Project | ||||
Series 2017 | ||||
11/15/2037 | 5.250% | 1,250,000 | 1,462,043 | |
11/15/2045 | 5.250% | 1,165,000 | 1,350,468 | |
Total | 2,812,511 | |||
Oregon 0.6% | ||||
Clackamas County Hospital Facility Authority | ||||
Refunding Revenue Bonds | ||||
Rose Villa Project | ||||
Series 2020A | ||||
11/15/2055 | 5.375% | 1,500,000 | 1,678,211 | |
Hospital Facilities Authority of Multnomah County | ||||
Refunding Revenue Bonds | ||||
Mirabella at South Waterfront | ||||
Series 2014A | ||||
10/01/2044 | 5.400% | 525,000 | 571,147 | |
Medford Hospital Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Asante Project | ||||
Series 2020A | ||||
08/15/2045 | 5.000% | 4,660,000 | 6,016,169 | |
Port of Portland Airport(d) | ||||
Revenue Bonds | ||||
Series 2017-24B | ||||
07/01/2042 | 5.000% | 1,000,000 | 1,194,661 | |
State of Oregon Housing & Community Services Department | ||||
Revenue Bonds | ||||
Series 2017D | ||||
01/01/2038 | 3.450% | 3,840,000 | 4,131,753 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Yamhill County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Friendsview | ||||
Series 2021A | ||||
11/15/2046 | 5.000% | 1,540,000 | 1,818,619 | |
11/15/2051 | 5.000% | 1,100,000 | 1,294,978 | |
Total | 16,705,538 | |||
Pennsylvania 5.3% | ||||
Allegheny County Hospital Development Authority | ||||
Refunding Revenue Bonds | ||||
University of Pittsburgh Medical Center | ||||
Series 2019 | ||||
07/15/2038 | 4.000% | 1,750,000 | 2,084,960 | |
City of Philadelphia Airport(d) | ||||
Refunding Revenue Bonds | ||||
Private Activity | ||||
Series 2021 | ||||
07/01/2051 | 5.000% | 3,000,000 | 3,843,846 | |
Series 2021 (AGM) | ||||
07/01/2046 | 4.000% | 1,750,000 | 2,092,980 | |
Series 2017B | ||||
07/01/2042 | 5.000% | 2,250,000 | 2,716,998 | |
Commonwealth Financing Authority | ||||
Revenue Bonds | ||||
Series 2015A | ||||
06/01/2035 | 5.000% | 1,950,000 | 2,269,970 | |
Tobacco Master Settlement Payment | ||||
Series 2018 | ||||
06/01/2035 | 5.000% | 2,000,000 | 2,475,213 | |
Commonwealth of Pennsylvania | ||||
Refunding Certificate of Participation | ||||
Series 2018A | ||||
07/01/2037 | 5.000% | 1,600,000 | 1,963,740 | |
Cumberland County Municipal Authority | ||||
Prerefunded 01/01/25 Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2038 | 5.000% | 160,000 | 185,146 | |
Refunding Revenue Bonds | ||||
Diakon Lutheran Social Ministries Project | ||||
Series 2015 | ||||
01/01/2038 | 5.000% | 1,470,000 | 1,637,328 | |
East Hempfield Township Industrial Development Authority | ||||
Prerefunded 07/01/24 Revenue Bonds | ||||
Student Service, Inc. Student Housing Project | ||||
Series 2014 | ||||
07/01/2046 | 5.000% | 1,000,000 | 1,137,688 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 25 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Franklin County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Menno-Haven, Inc. Project | ||||
Series 2018 | ||||
12/01/2043 | 5.000% | 1,200,000 | 1,307,211 | |
Geisinger Authority | ||||
Refunding Revenue Bonds | ||||
Geisinger Health System | ||||
Series 2017 | ||||
02/15/2047 | 4.000% | 5,000,000 | 5,636,008 | |
Lancaster County Hospital Authority | ||||
Refunding Revenue Bonds | ||||
Masonic Villages of the Grand Lodge of Pennsylvania | ||||
Series 2015 | ||||
11/01/2035 | 5.000% | 700,000 | 791,103 | |
Luzerne County Industrial Development Authority(d) | ||||
Refunding Revenue Bonds | ||||
Pennsylvania-American Water Co. Project | ||||
Series 2019 (Mandatory Put 12/03/29) | ||||
12/01/2039 | 2.450% | 3,500,000 | 3,847,545 | |
Montgomery County Industrial Development Authority | ||||
Refunding Revenue Bonds | ||||
Albert Einstein HealthCare Network | ||||
Series 2015 | ||||
01/15/2045 | 5.250% | 1,850,000 | 2,094,600 | |
Meadowood Senior Living Project | ||||
Series 2018 | ||||
12/01/2038 | 5.000% | 1,270,000 | 1,464,258 | |
Revenue Bonds | ||||
ACTS Retirement - Life Communities | ||||
Series 2020 | ||||
11/15/2043 | 4.000% | 1,000,000 | 1,166,095 | |
11/15/2045 | 5.000% | 3,500,000 | 4,275,143 | |
Northampton County General Purpose Authority | ||||
Refunding Revenue Bonds | ||||
St. Luke’s University Health Network | ||||
Series 2018 | ||||
08/15/2043 | 5.000% | 675,000 | 834,133 | |
08/15/2048 | 5.000% | 1,500,000 | 1,843,622 | |
Pennsylvania Economic Development Financing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
11/15/2042 | 4.000% | 10,000,000 | 11,521,877 | |
Pennsylvania Economic Development Financing Authority(e),(g) | ||||
Refunding Revenue Bonds | ||||
Tapestry Moon Senior Housing Project | ||||
Series 2018 | ||||
12/01/2053 | 0.000% | 5,625,000 | 3,318,750 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pennsylvania Economic Development Financing Authority(d) | ||||
Revenue Bonds | ||||
PA Bridges Finco LP | ||||
Series 2015 | ||||
12/31/2038 | 5.000% | 4,125,000 | 4,824,227 | |
06/30/2042 | 5.000% | 11,000,000 | 12,794,549 | |
Pennsylvania Higher Educational Facilities Authority | ||||
Prerefunded 10/01/21 Revenue Bonds | ||||
Shippensburg University | ||||
Series 2011 | ||||
10/01/2031 | 6.000% | 2,000,000 | 2,018,968 | |
Pennsylvania Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2016-120 | ||||
10/01/2046 | 3.500% | 970,000 | 1,020,463 | |
Series 2017-124B | ||||
10/01/2042 | 3.650% | 7,495,000 | 7,809,351 | |
Revenue Bonds | ||||
Series 2019-130A | ||||
10/01/2034 | 2.500% | 4,000,000 | 4,217,206 | |
10/01/2039 | 2.700% | 3,000,000 | 3,181,754 | |
Series 2019-131A | ||||
04/01/2049 | 3.500% | 2,785,000 | 2,998,324 | |
Pennsylvania Turnpike Commission | ||||
Refunding Revenue Bonds | ||||
Mass Transit Projects | ||||
Subordinated Series 2016A-1 | ||||
12/01/2041 | 5.000% | 4,800,000 | 5,644,103 | |
Revenue Bonds | ||||
Series 2014C | ||||
12/01/2044 | 5.000% | 2,500,000 | 2,854,999 | |
Series 2015B | ||||
12/01/2040 | 5.000% | 2,500,000 | 2,943,444 | |
Subordinated Series 2017B-1 | ||||
06/01/2042 | 5.000% | 3,000,000 | 3,617,939 | |
Subordinated Series 2018B | ||||
12/01/2048 | 5.000% | 5,000,000 | 6,194,529 | |
Subordinated Series 2019A | ||||
12/01/2044 | 5.000% | 10,000,000 | 12,804,842 | |
Philadelphia Authority for Industrial Development | ||||
Refunding Revenue Bonds | ||||
Thomas Jefferson University | ||||
Series 2017 | ||||
09/01/2042 | 5.000% | 2,500,000 | 3,025,111 | |
Revenue Bonds | ||||
First Philadelphia Preparatory Charter School | ||||
Series 2014 | ||||
06/15/2043 | 7.250% | 750,000 | 865,961 |
26 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Pocono Mountains Industrial Park Authority | ||||
Revenue Bonds | ||||
St. Luke’s Hospital-Monroe Project | ||||
Series 2015 | ||||
08/15/2040 | 5.000% | 1,450,000 | 1,628,105 | |
School District of Philadelphia (The) | ||||
Limited General Obligation Bonds | ||||
Series 2018A | ||||
09/01/2038 | 5.000% | 1,135,000 | 1,416,955 | |
Series 2018B | ||||
09/01/2043 | 5.000% | 515,000 | 637,919 | |
State Public School Building Authority | ||||
Refunding Revenue Bonds | ||||
Philadelphia School District | ||||
Series 2016 | ||||
06/01/2034 | 5.000% | 3,000,000 | 3,643,062 | |
School District of Philadelphia | ||||
Series 2016 | ||||
06/01/2036 | 5.000% | 4,800,000 | 5,798,297 | |
Union County Hospital Authority | ||||
Revenue Bonds | ||||
Evangelical Community Hospital | ||||
Series 2018 | ||||
08/01/2038 | 5.000% | 3,065,000 | 3,610,518 | |
Total | 152,058,840 | |||
Puerto Rico 2.2% | ||||
Commonwealth of Puerto Rico(g),(i) | ||||
Unlimited General Obligation Bonds | ||||
Series 2014A | ||||
07/01/2035 | 0.000% | 9,500,000 | 8,098,750 | |
Puerto Rico Electric Power Authority(g),(i) | ||||
Revenue Bonds | ||||
Series 2010XX | ||||
07/01/2040 | 0.000% | 5,000,000 | 4,912,500 | |
Series 2012A | ||||
07/01/2042 | 0.000% | 6,505,000 | 6,366,769 | |
Puerto Rico Highway & Transportation Authority(g),(i) | ||||
Revenue Bonds | ||||
Series 2005K | ||||
07/01/2030 | 0.000% | 2,000,000 | 1,062,500 | |
Series 2007M | ||||
07/01/2037 | 0.000% | 4,225,000 | 2,244,531 | |
Unrefunded Revenue Bonds | ||||
Series 2003G | ||||
07/01/2042 | 0.000% | 1,935,000 | 1,027,969 | |
Puerto Rico Sales Tax Financing Corp.(f),(i) | ||||
Revenue Bonds | ||||
Series 2018A-1 | ||||
07/01/2046 | 0.000% | 40,653,000 | 13,627,211 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Puerto Rico Sales Tax Financing Corp. Sales Tax(i) | ||||
Revenue Bonds | ||||
Series 2019A-1 | ||||
07/01/2058 | 5.000% | 22,285,000 | 25,984,978 | |
Total | 63,325,208 | |||
Rhode Island 0.1% | ||||
Rhode Island Student Loan Authority(d) | ||||
Refunding Revenue Bonds | ||||
Series 2018A | ||||
12/01/2025 | 5.000% | 1,200,000 | 1,416,475 | |
South Carolina 0.5% | ||||
South Carolina Jobs-Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Bon Secours Mercy Health, Inc. | ||||
Series 2020 | ||||
12/01/2046 | 5.000% | 2,800,000 | 3,599,723 | |
Revenue Bonds | ||||
York Preparatory Academy Project | ||||
Series 2014A | ||||
11/01/2045 | 7.250% | 1,315,000 | 1,468,327 | |
South Carolina Jobs-Economic Development Authority(d),(e) | ||||
Revenue Bonds | ||||
Green Bonds - Last Step Recycling Project | ||||
Series 2021 | ||||
06/01/2051 | 6.500% | 2,250,000 | 2,366,498 | |
South Carolina Ports Authority(d) | ||||
Revenue Bonds | ||||
Series 2018 | ||||
07/01/2043 | 5.000% | 1,570,000 | 1,945,651 | |
Series 2019B | ||||
07/01/2044 | 5.000% | 4,080,000 | 5,039,599 | |
South Carolina State Housing Finance & Development Authority | ||||
Revenue Bonds | ||||
Series 2020A | ||||
07/01/2040 | 3.000% | 970,000 | 1,040,666 | |
Total | 15,460,464 | |||
South Dakota 0.7% | ||||
South Dakota Health & Educational Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Avera Health | ||||
Series 2017 | ||||
07/01/2042 | 4.000% | 10,000,000 | 11,356,669 | |
Sanford Obligated Group | ||||
Series 2015 | ||||
11/01/2045 | 5.000% | 1,580,000 | 1,838,669 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 27 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
South Dakota Housing Development Authority(h) | ||||
Refunding Revenue Bonds | ||||
Homeownership Mortgage | ||||
Series 2021A | ||||
11/01/2041 | 2.050% | 5,900,000 | 5,922,405 | |
Total | 19,117,743 | |||
Tennessee 1.7% | ||||
Chattanooga Health Educational & Housing Facility Board | ||||
Refunding Revenue Bonds | ||||
Student Housing - CDFI Phase I | ||||
Series 2015 | ||||
10/01/2035 | 5.000% | 355,000 | 400,338 | |
City of Memphis(h) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2021 | ||||
05/01/2033 | 5.000% | 8,620,000 | 11,788,438 | |
Greeneville Health & Educational Facilities Board | ||||
Refunding Revenue Bonds | ||||
Ballad Health Obligation Group | ||||
Series 2018 | ||||
07/01/2037 | 5.000% | 2,300,000 | 2,855,110 | |
07/01/2040 | 4.000% | 1,800,000 | 2,085,437 | |
Knox County Health Educational & Housing Facility Board | ||||
Refunding Revenue Bonds | ||||
East Tennessee Children’s Hospital | ||||
Series 2019 | ||||
11/15/2048 | 4.000% | 5,235,000 | 6,047,117 | |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board | ||||
Revenue Bonds | ||||
Vanderbilt University Medical Center | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 1,200,000 | 1,433,364 | |
Series 2017A | ||||
07/01/2048 | 5.000% | 835,000 | 1,017,687 | |
New Memphis Arena Public Building Authority(f) | ||||
Revenue Bonds | ||||
City of Memphis Project | ||||
Series 2021 | ||||
04/01/2032 | 0.000% | 200,000 | 169,389 | |
04/01/2033 | 0.000% | 2,000,000 | 1,649,360 | |
04/01/2038 | 0.000% | 1,150,000 | 813,536 | |
04/01/2039 | 0.000% | 1,625,000 | 1,117,342 | |
Shelby County Health Educational & Housing Facilities Board | ||||
Revenue Bonds | ||||
Farms at Bailey Station (The) | ||||
Series 2019 | ||||
10/01/2049 | 5.750% | 9,000,000 | 9,768,021 | |
Farms at Bailey Station Project (The) | ||||
Series 2019 | ||||
10/01/2059 | 5.750% | 3,000,000 | 3,226,020 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Tennessee Housing Development Agency | ||||
Refunding Revenue Bonds | ||||
Issue 2 | ||||
Series 2018 | ||||
07/01/2042 | 3.850% | 2,075,000 | 2,259,409 | |
Revenue Bonds | ||||
3rd Issue | ||||
Series 2017 | ||||
07/01/2042 | 3.600% | 650,000 | 697,332 | |
07/01/2047 | 3.650% | 1,285,000 | 1,368,764 | |
Series 2017-2B | ||||
07/01/2036 | 3.700% | 2,475,000 | 2,683,524 | |
Series 2018-1 | ||||
07/01/2042 | 3.900% | 750,000 | 826,584 | |
Total | 50,206,772 | |||
Texas 9.4% | ||||
Angelina & Neches River Authority(d),(e) | ||||
Revenue Bonds | ||||
Jefferson Enterprise Energy LLC Project | ||||
Series 2021 | ||||
12/01/2045 | 7.500% | 7,000,000 | 7,115,536 | |
Arlington Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
Brooks Academies of Texas | ||||
Series 2021 | ||||
01/15/2051 | 5.000% | 875,000 | 928,801 | |
Bexar County Health Facilities Development Corp. | ||||
Refunding Revenue Bonds | ||||
Army Retirement Residence Foundation | ||||
Series 2016 | ||||
07/15/2031 | 4.000% | 2,000,000 | 2,185,631 | |
07/15/2036 | 4.000% | 3,000,000 | 3,237,293 | |
Series 2018 | ||||
07/15/2033 | 5.000% | 1,000,000 | 1,116,825 | |
07/15/2037 | 5.000% | 2,100,000 | 2,330,446 | |
Central Texas Regional Mobility Authority | ||||
Refunding Revenue Bonds | ||||
Series 2016 | ||||
01/01/2040 | 5.000% | 2,500,000 | 2,931,674 | |
Subordinated Series 2016 | ||||
01/01/2041 | 4.000% | 2,295,000 | 2,539,787 | |
Revenue Bonds | ||||
Senior Lien | ||||
Series 2015A | ||||
01/01/2040 | 5.000% | 2,000,000 | 2,303,617 | |
01/01/2045 | 5.000% | 5,000,000 | 5,755,416 | |
Central Texas Turnpike System(f) | ||||
Refunding Revenue Bonds | ||||
Series 2015B | ||||
08/15/2037 | 0.000% | 2,000,000 | 1,099,386 |
28 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Central Texas Turnpike System | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
08/15/2039 | 5.000% | 4,825,000 | 6,282,437 | |
Subordinated Series 2015C | ||||
08/15/2042 | 5.000% | 2,500,000 | 2,778,479 | |
City of Austin Airport System(d) | ||||
Revenue Bonds | ||||
Series 2017B | ||||
11/15/2041 | 5.000% | 1,000,000 | 1,205,775 | |
11/15/2046 | 5.000% | 1,000,000 | 1,204,260 | |
Series 2019B | ||||
11/15/2038 | 5.000% | 6,175,000 | 7,906,168 | |
11/15/2048 | 5.000% | 7,850,000 | 9,885,256 | |
City of Houston Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2018C | ||||
07/01/2031 | 5.000% | 1,525,000 | 1,923,647 | |
Revenue Bonds | ||||
Subordinated Series 2018A | ||||
07/01/2041 | 5.000% | 1,250,000 | 1,543,364 | |
Subordinated Series 2020A | ||||
07/01/2047 | 4.000% | 4,200,000 | 4,912,556 | |
Subordinated Series 2021A | ||||
07/01/2046 | 4.000% | 2,000,000 | 2,376,024 | |
City of San Antonio Airport System(d) | ||||
Refunding Revenue Bonds | ||||
Lien | ||||
Subordinated Series 2019A | ||||
07/01/2030 | 5.000% | 1,250,000 | 1,613,745 | |
07/01/2031 | 5.000% | 1,000,000 | 1,284,550 | |
07/01/2032 | 5.000% | 750,000 | 962,634 | |
Clifton Higher Education Finance Corp. | ||||
Prerefunded 08/15/21 Revenue Bonds | ||||
Idea Public Schools | ||||
Series 2011 | ||||
08/15/2031 | 5.500% | 1,750,000 | 1,753,154 | |
Revenue Bonds | ||||
Idea Public Schools | ||||
Series 2012 | ||||
08/15/2032 | 5.000% | 580,000 | 602,788 | |
08/15/2042 | 5.000% | 1,500,000 | 1,552,895 | |
Series 2013 | ||||
08/15/2033 | 6.000% | 260,000 | 286,283 | |
International Leadership | ||||
Series 2015 | ||||
08/15/2038 | 5.750% | 2,015,000 | 2,348,937 | |
Series 2015A | ||||
12/01/2045 | 5.000% | 400,000 | 447,649 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
County of Williamson | ||||
Unlimited General Obligation Bonds | ||||
Series 2020 | ||||
02/15/2033 | 4.000% | 11,240,000 | 13,749,001 | |
Cypress-Fairbanks Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020A | ||||
02/15/2032 | 5.000% | 2,250,000 | 3,068,091 | |
02/15/2033 | 3.000% | 1,000,000 | 1,163,106 | |
02/15/2034 | 3.000% | 2,420,000 | 2,799,804 | |
Dallas Love Field(d) | ||||
Revenue Bonds | ||||
Series 2017 | ||||
11/01/2033 | 5.000% | 1,000,000 | 1,209,203 | |
11/01/2036 | 5.000% | 1,000,000 | 1,208,696 | |
Frisco Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Texas Permanent School Fund Program | ||||
Series 2019 | ||||
08/15/2039 | 4.000% | 1,000,000 | 1,203,937 | |
Harris County Flood Control District | ||||
Limited General Obligation Bonds | ||||
Series 2020A | ||||
10/01/2033 | 4.000% | 1,700,000 | 2,095,329 | |
10/01/2034 | 4.000% | 2,250,000 | 2,761,592 | |
Harris County Toll Road Authority (The) | ||||
Refunding Revenue Bonds | ||||
First Lien | ||||
Series 2021 | ||||
08/15/2033 | 4.000% | 1,470,000 | 1,836,016 | |
08/15/2034 | 4.000% | 1,000,000 | 1,244,946 | |
08/15/2035 | 4.000% | 1,000,000 | 1,242,820 | |
New Hope Cultural Education Facilities Finance Corp. | ||||
Prerefunded 04/01/25 Revenue Bonds | ||||
Collegiate Housing Tarleton State University | ||||
Series 2015 | ||||
04/01/2047 | 5.000% | 2,465,000 | 2,887,497 | |
Refunding Revenue Bonds | ||||
Texas Children’s Health System | ||||
Series 2017A | ||||
08/15/2040 | 4.000% | 3,610,000 | 4,126,565 | |
Revenue Bonds | ||||
4-K Housing, Inc. Stoney Brook Project | ||||
Series 2017 | ||||
07/01/2042 | 4.500% | 1,000,000 | 899,568 | |
07/01/2047 | 5.000% | 1,000,000 | 951,188 | |
07/01/2052 | 4.750% | 1,500,000 | 1,354,153 | |
Cardinal Bay Senior Living/Village on the Park | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 4,485,000 | 3,490,840 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 29 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Cardinal Bay, Inc. - Village on the Park | ||||
Series 2016 | ||||
07/01/2036 | 4.250% | 1,500,000 | 1,177,098 | |
07/01/2051 | 4.750% | 5,235,000 | 3,807,641 | |
MRC Senior Living-Langford Project | ||||
Series 2016 | ||||
11/15/2036 | 5.375% | 500,000 | 544,585 | |
11/15/2046 | 5.500% | 750,000 | 811,959 | |
Westminster Project | ||||
Series 2021 | ||||
11/01/2049 | 4.000% | 1,600,000 | 1,829,323 | |
New Hope Cultural Education Facilities Finance Corp.(g) | ||||
Revenue Bonds | ||||
Bridgemoor Plano Project | ||||
Series 2018 | ||||
12/01/2053 | 0.000% | 4,500,000 | 3,315,510 | |
New Hope Cultural Education Facilities Finance Corp.(e) | ||||
Revenue Bonds | ||||
Jubilee Academic Center Project | ||||
Series 2017 | ||||
08/15/2037 | 5.000% | 530,000 | 531,247 | |
North Texas Tollway Authority | ||||
Refunding Revenue Bonds | ||||
2nd Tier | ||||
Series 2015A | ||||
01/01/2038 | 5.000% | 1,730,000 | 1,977,150 | |
Series 2019A | ||||
01/01/2044 | 4.000% | 13,500,000 | 15,851,353 | |
Northside Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Texas Permanent School Fund Program | ||||
Series 2019 | ||||
08/15/2038 | 4.000% | 1,235,000 | 1,470,964 | |
Northwest Independent School District | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2020 | ||||
02/15/2035 | 4.000% | 2,880,000 | 3,579,801 | |
02/15/2037 | 4.000% | 3,125,000 | 3,860,441 | |
02/15/2039 | 4.000% | 2,000,000 | 2,459,385 | |
Port Authority of Houston of Harris County(d) | ||||
Unlimited General Obligation Refunding Bonds | ||||
Series 2018A | ||||
10/01/2036 | 5.000% | 4,000,000 | 5,079,258 | |
Pottsboro Higher Education Finance Corp. | ||||
Revenue Bonds | ||||
Series 2016A | ||||
08/15/2036 | 5.000% | 385,000 | 429,288 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State of Texas(d) | ||||
Unlimited General Obligation Bonds | ||||
College Student Loan | ||||
Series 2019 | ||||
08/01/2030 | 5.000% | 7,175,000 | 9,253,666 | |
08/01/2031 | 5.000% | 7,535,000 | 9,667,650 | |
State of Texas | ||||
Unlimited General Obligation Refunding Bonds | ||||
Transportation Commission Mobility Fund | ||||
Series 2017 | ||||
10/01/2033 | 5.000% | 11,300,000 | 14,153,224 | |
Tarrant County Cultural Education Facilities Finance Corp. | ||||
Refunding Revenue Bonds | ||||
Trinity Terrace Project | ||||
Series 2014 | ||||
10/01/2049 | 5.000% | 750,000 | 825,842 | |
Texas Municipal Gas Acquisition & Supply Corp. III | ||||
Refunding Revenue Bonds | ||||
Senior | ||||
Series 2021 | ||||
12/15/2031 | 5.000% | 1,250,000 | 1,694,822 | |
Texas Private Activity Bond Surface Transportation Corp. | ||||
Refunding Revenue Bonds | ||||
LBJ Infrastructure Group LLC I-635 Managed Lanes Project | ||||
Series 2020 | ||||
06/30/2036 | 4.000% | 1,500,000 | 1,806,807 | |
06/30/2040 | 4.000% | 500,000 | 594,849 | |
Senior Lien - North Tarrant Express | ||||
Series 2019 | ||||
12/31/2039 | 4.000% | 2,000,000 | 2,356,596 | |
Texas Private Activity Bond Surface Transportation Corp.(d) | ||||
Revenue Bonds | ||||
Segment 3C Project | ||||
Series 2019 | ||||
06/30/2058 | 5.000% | 17,200,000 | 21,346,846 | |
Senior Lien - Blueridge Transportation Group LLC | ||||
Series 2016 | ||||
12/31/2040 | 5.000% | 2,000,000 | 2,279,346 | |
12/31/2045 | 5.000% | 2,250,000 | 2,549,156 | |
12/31/2050 | 5.000% | 1,930,000 | 2,181,369 | |
12/31/2055 | 5.000% | 6,515,000 | 7,346,037 | |
Texas Transportation Commission(f) | ||||
Revenue Bonds | ||||
First Tier Toll | ||||
Series 2019 | ||||
08/01/2036 | 0.000% | 950,000 | 581,462 | |
08/01/2039 | 0.000% | 600,000 | 311,354 | |
Texas Water Development Board | ||||
Revenue Bonds | ||||
Master Trust | ||||
Series 2020 | ||||
10/15/2033 | 4.000% | 3,500,000 | 4,401,663 |
30 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
State Water Implementation Fund | ||||
Series 2018 | ||||
10/15/2032 | 5.000% | 5,105,000 | 6,610,156 | |
Tomball Independent School District | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2020 | ||||
02/15/2037 | 4.000% | 1,670,000 | 2,050,817 | |
02/15/2045 | 4.000% | 3,765,000 | 4,527,258 | |
Total | 270,971,288 | |||
Utah 1.9% | ||||
City of Salt Lake City Airport(d),(h) | ||||
Revenue Bonds | ||||
Series 2021A | ||||
07/01/2035 | 5.000% | 5,000,000 | 6,606,552 | |
07/01/2051 | 5.000% | 20,000,000 | 25,560,392 | |
Salt Lake City Corp. Airport(d) | ||||
Revenue Bonds | ||||
Series 2017A | ||||
07/01/2042 | 5.000% | 6,700,000 | 8,090,615 | |
Series 2018-A | ||||
07/01/2043 | 5.000% | 13,000,000 | 15,889,708 | |
Total | 56,147,267 | |||
Virginia 3.0% | ||||
Chesapeake Bay Bridge & Tunnel District | ||||
Revenue Bonds | ||||
1st Tier General Resolution | ||||
Series 2016 | ||||
07/01/2046 | 5.000% | 7,255,000 | 8,654,330 | |
City of Chesapeake Expressway Toll Road | ||||
Revenue Bonds | ||||
Transportation System | ||||
Series 2012A | ||||
07/15/2047 | 5.000% | 3,250,000 | 3,395,768 | |
Virginia College Building Authority | ||||
Revenue Bonds | ||||
21st Century College and Equipment Programs | ||||
Series 2021 | ||||
02/01/2032 | 4.000% | 10,000,000 | 12,534,606 | |
Virginia Public Building Authority | ||||
Revenue Bonds | ||||
Series 2021A-1 | ||||
08/01/2029 | 5.000% | 23,230,000 | 30,949,963 | |
Virginia Small Business Financing Authority(d) | ||||
Revenue Bonds | ||||
Senior Lien - 95 Express Lane | ||||
Series 2017 | ||||
01/01/2040 | 5.000% | 7,500,000 | 7,642,405 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Transform 66 P3 Project | ||||
Series 2017 | ||||
12/31/2052 | 5.000% | 19,125,000 | 23,039,853 | |
Total | 86,216,925 | |||
Washington 5.3% | ||||
King County Housing Authority | ||||
Refunding Revenue Bonds | ||||
Series 2018 | ||||
05/01/2038 | 3.750% | 3,890,000 | 4,379,424 | |
King County Public Hospital District No. 4 | ||||
Revenue Bonds | ||||
Series 2015A | ||||
12/01/2035 | 6.000% | 1,000,000 | 1,110,511 | |
Port of Seattle(d) | ||||
Refunding Revenue Bonds | ||||
Intermediate Lien | ||||
Series 2017 | ||||
05/01/2037 | 5.000% | 6,000,000 | 7,157,867 | |
State of Washington | ||||
Unlimited General Obligation Bonds | ||||
Motor Vehicle Fuel Tax | ||||
Series 2019D | ||||
06/01/2040 | 5.000% | 5,000,000 | 6,401,702 | |
Series 2015B | ||||
02/01/2039 | 5.000% | 10,000,000 | 11,508,605 | |
Series 2017D | ||||
02/01/2036 | 5.000% | 6,505,000 | 7,988,433 | |
Series 2020C | ||||
02/01/2034 | 5.000% | 9,725,000 | 12,869,756 | |
Various Purpose | ||||
Series 2019C | ||||
02/01/2038 | 5.000% | 5,000,000 | 6,393,774 | |
Unlimited General Obligation Notes | ||||
Series 2019A | ||||
08/01/2040 | 5.000% | 10,000,000 | 12,915,228 | |
Unlimited General Obligation Refunding Bonds | ||||
Series 2021C | ||||
08/01/2035 | 4.000% | 12,910,000 | 16,292,093 | |
Series 2021D | ||||
07/01/2037 | 4.000% | 10,030,000 | 12,537,749 | |
07/01/2038 | 4.000% | 10,435,000 | 13,010,825 | |
Washington Health Care Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Seattle Cancer Care Alliance | ||||
Series 2020 | ||||
09/01/2055 | 5.000% | 10,000,000 | 12,855,749 | |
Virginia Mason Medical Center | ||||
Series 2017 | ||||
08/15/2042 | 4.000% | 5,000,000 | 5,515,895 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 31 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Washington State Convention Center Public Facilities District | ||||
Revenue Bonds | ||||
Junior Lodging Tax Green Notes | ||||
Series 2021 | ||||
07/01/2031 | 4.000% | 2,000,000 | 2,386,477 | |
Washington State Housing Finance Commission(e) | ||||
Prerefunded 10/03/22 Revenue Bonds | ||||
Nonprofit Housing-Mirabella | ||||
Series 2012 | ||||
10/01/2047 | 6.750% | 3,000,000 | 3,225,170 | |
Refunding Revenue Bonds | ||||
Presbyterian Retirement Co. | ||||
Series 2016 | ||||
01/01/2046 | 5.000% | 4,000,000 | 4,395,664 | |
Skyline 1st Hill Project | ||||
Series 2015 | ||||
01/01/2035 | 5.750% | 425,000 | 463,480 | |
01/01/2045 | 6.000% | 595,000 | 645,206 | |
Revenue Bonds | ||||
Heron’s Key | ||||
Series 2015A | ||||
07/01/2050 | 7.000% | 2,550,000 | 2,832,112 | |
Transforming Age Projects | ||||
Series 2019A | ||||
01/01/2055 | 5.000% | 3,500,000 | 3,965,120 | |
Washington State Housing Finance Commission | ||||
Revenue Bonds | ||||
Transforming Age Projects | ||||
Series 2019 | ||||
01/01/2026 | 2.375% | 4,000,000 | 4,003,940 | |
Total | 152,854,780 | |||
Wisconsin 1.7% | ||||
Public Finance Authority | ||||
Refunding Revenue Bonds | ||||
Friends Homes | ||||
Series 2019 | ||||
09/01/2039 | 5.000% | 2,230,000 | 2,601,251 | |
09/01/2054 | 5.000% | 1,000,000 | 1,149,634 | |
WakeMed Hospital | ||||
Series 2019A | ||||
10/01/2044 | 5.000% | 3,000,000 | 3,706,521 | |
10/01/2049 | 4.000% | 2,690,000 | 3,081,733 | |
Revenue Bonds | ||||
ACTS Retirement - Life Communities | ||||
Series 2020 | ||||
11/15/2037 | 4.000% | 2,000,000 | 2,362,655 | |
Coral Academy Science Las Vegas | ||||
Series 2018 | ||||
07/01/2055 | 5.000% | 2,500,000 | 2,859,157 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Rose Villa Project | ||||
Series 2014A | ||||
11/15/2049 | 6.000% | 1,645,000 | 1,808,950 | |
Public Finance Authority(e) | ||||
Refunding Revenue Bonds | ||||
Mary’s Woods at Marylhurst | ||||
Series 2017 | ||||
05/15/2042 | 5.250% | 410,000 | 453,812 | |
05/15/2047 | 5.250% | 220,000 | 243,509 | |
Revenue Bonds | ||||
WFCS Portfolio Project | ||||
Series 2021 | ||||
01/01/2056 | 5.000% | 1,000,000 | 1,184,517 | |
Wonderful Foundations Charter School Portfolio Projects | ||||
Series 2020 | ||||
01/01/2055 | 5.000% | 3,500,000 | 4,118,548 | |
State of Wisconsin | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
05/01/2039 | 4.000% | 2,500,000 | 2,963,838 | |
Wisconsin Center District(f) | ||||
Revenue Bonds | ||||
Junior Dedicated | ||||
Series 2020D (AGM) | ||||
12/15/2055 | 0.000% | 15,000,000 | 4,436,159 | |
Wisconsin Health & Educational Facilities Authority | ||||
Prerefunded 08/15/23 Revenue Bonds | ||||
Beaver Dam Community Hospitals | ||||
Series 2013A | ||||
08/15/2028 | 5.125% | 3,375,000 | 3,708,487 | |
Refunding Revenue Bonds | ||||
Saint John’s Communities, Inc. | ||||
Series 2015B | ||||
09/15/2045 | 5.000% | 1,000,000 | 1,038,711 | |
Revenue Bonds | ||||
Covenant Communities, Inc. Project | ||||
Series 2018A | ||||
07/01/2048 | 4.000% | 4,665,000 | 4,974,666 | |
Series 2018B | ||||
07/01/2033 | 4.250% | 1,250,000 | 1,276,635 | |
07/01/2043 | 4.500% | 1,375,000 | 1,408,417 | |
07/01/2048 | 5.000% | 500,000 | 524,045 | |
St. John’s Communities, Inc. Project | ||||
Series 2018A | ||||
09/15/2040 | 5.000% | 550,000 | 591,504 | |
09/15/2045 | 5.000% | 1,000,000 | 1,071,767 | |
Unrefunded Revenue Bonds | ||||
Medical College of Wisconsin | ||||
Series 2008A | ||||
12/01/2035 | 5.250% | 300,000 | 301,109 |
32 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Wisconsin Housing & Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Series 2020A | ||||
09/01/2035 | 2.700% | 1,000,000 | 1,074,211 | |
03/01/2039 | 3.000% | 1,180,000 | 1,261,735 | |
Total | 48,201,571 | |||
Total Municipal Bonds (Cost $2,625,841,337) | 2,835,957,246 |
Money Market Funds 1.8% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(k) | 477,656 | 477,609 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(k) | 52,783,764 | 52,783,764 |
Total Money Market Funds (Cost $53,261,406) | 53,261,373 | |
Total Investments in Securities (Cost $2,720,877,694) | 2,932,627,087 | |
Other Assets & Liabilities, Net | (49,795,511) | |
Net Assets | $2,882,831,576 |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Long Bond | (488) | 09/2021 | USD | (80,382,750) | — | (2,380,630) |
(a) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Multi-Sector Municipal Income ETF | ||||||||
21,099,869 | — | (2,184,628) | 473,227 | 19,388,468 | 107,746 | 438,503 | 851,118 |
(b) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(c) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of July 31, 2021. |
(d) | Income from this security may be subject to alternative minimum tax. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At July 31, 2021, the total value of these securities amounted to $96,859,921, which represents 3.36% of total net assets. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 33 |
July 31, 2021
(f) | Zero coupon bond. |
(g) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $36,929,955, which represents 1.28% of total net assets. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At July 31, 2021, the total value of these securities amounted to $66,548,122, which represents 2.31% of total net assets. |
(j) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of July 31, 2021. |
(k) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
AGM | Assured Guaranty Municipal Corporation |
BAM | Build America Mutual Assurance Co. |
BAN | Bond Anticipation Note |
FHA | Federal Housing Authority |
GNMA | Government National Mortgage Association |
MTA | Monthly Treasury Average |
NPFGC | National Public Finance Guarantee Corporation |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
34 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Exchange-Traded Fixed Income Funds | 19,388,468 | — | — | 19,388,468 |
Floating Rate Notes | — | 24,020,000 | — | 24,020,000 |
Municipal Bonds | — | 2,835,957,246 | — | 2,835,957,246 |
Money Market Funds | 53,261,373 | — | — | 53,261,373 |
Total Investments in Securities | 72,649,841 | 2,859,977,246 | — | 2,932,627,087 |
Investments in Derivatives | ||||
Liability | ||||
Futures Contracts | (2,380,630) | — | — | (2,380,630) |
Total | 70,269,211 | 2,859,977,246 | — | 2,930,246,457 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 35 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,703,122,743) | $2,913,238,619 |
Affiliated issuers (cost $17,754,951) | 19,388,468 |
Cash | 96,342 |
Margin deposits on: | |
Futures contracts | 1,725,000 |
Receivable for: | |
Capital shares sold | 8,366,792 |
Interest | 23,577,379 |
Expense reimbursement due from Investment Manager | 122 |
Prepaid expenses | 28,768 |
Total assets | 2,966,421,490 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 75,163,965 |
Capital shares purchased | 2,517,910 |
Distributions to shareholders | 5,291,249 |
Variation margin for futures contracts | 274,500 |
Management services fees | 35,349 |
Distribution and/or service fees | 8,722 |
Transfer agent fees | 131,022 |
Compensation of board members | 120,880 |
Other expenses | 46,317 |
Total liabilities | 83,589,914 |
Net assets applicable to outstanding capital stock | $2,882,831,576 |
Represented by | |
Paid in capital | 2,684,313,925 |
Total distributable earnings (loss) | 198,517,651 |
Total - representing net assets applicable to outstanding capital stock | $2,882,831,576 |
Class A | |
Net assets | $916,301,095 |
Shares outstanding | 53,021,461 |
Net asset value per share | $17.28 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $17.81 |
Advisor Class | |
Net assets | $72,396,847 |
Shares outstanding | 4,195,210 |
Net asset value per share | $17.26 |
Class C | |
Net assets | $90,170,450 |
Shares outstanding | 5,214,160 |
Net asset value per share | $17.29 |
Institutional Class | |
Net assets | $1,559,430,821 |
Shares outstanding | 90,415,364 |
Net asset value per share | $17.25 |
Institutional 2 Class | |
Net assets | $62,604,256 |
Shares outstanding | 3,628,845 |
Net asset value per share | $17.25 |
Institutional 3 Class | |
Net assets | $181,928,107 |
Shares outstanding | 10,530,876 |
Net asset value per share | $17.28 |
36 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $785,279 |
Dividends — affiliated issuers | 438,503 |
Interest | 76,194,642 |
Total income | 77,418,424 |
Expenses: | |
Management services fees | 11,678,025 |
Distribution and/or service fees | |
Class A | 2,161,496 |
Class C | 907,668 |
Transfer agent fees | |
Class A | 550,843 |
Advisor Class | 42,403 |
Class C | 57,860 |
Institutional Class | 868,673 |
Institutional 2 Class | 27,917 |
Institutional 3 Class | 11,415 |
Compensation of board members | 77,424 |
Custodian fees | 14,674 |
Printing and postage fees | 64,187 |
Registration fees | 207,988 |
Audit fees | 29,500 |
Legal fees | 31,254 |
Interest on inverse floater program | 45,605 |
Compensation of chief compliance officer | 502 |
Other | 74,819 |
Total expenses | 16,852,253 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (48,210) |
Fees waived by transfer agent | |
Institutional 2 Class | (2,243) |
Institutional 3 Class | (8,231) |
Total net expenses | 16,793,569 |
Net investment income | 60,624,855 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 6,661,141 |
Investments — affiliated issuers | 107,746 |
Futures contracts | (2,011,695) |
Net realized gain | 4,757,192 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 89,649,933 |
Investments — affiliated issuers | 473,227 |
Futures contracts | (2,380,630) |
Net change in unrealized appreciation (depreciation) | 87,742,530 |
Net realized and unrealized gain | 92,499,722 |
Net increase in net assets resulting from operations | $153,124,577 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 37 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $60,624,855 | $60,845,681 |
Net realized gain (loss) | 4,757,192 | (127,527) |
Net change in unrealized appreciation (depreciation) | 87,742,530 | 23,321,218 |
Net increase in net assets resulting from operations | 153,124,577 | 84,039,372 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (19,186,696) | (24,322,684) |
Advisor Class | (1,643,173) | (1,578,706) |
Class C | (1,334,163) | (1,886,047) |
Institutional Class | (33,665,028) | (36,033,554) |
Institutional 2 Class | (1,216,245) | (1,544,436) |
Institutional 3 Class | (3,771,377) | (2,332,717) |
Total distributions to shareholders | (60,816,682) | (67,698,144) |
Increase in net assets from capital stock activity | 420,326,621 | 419,651,377 |
Total increase in net assets | 512,634,516 | 435,992,605 |
Net assets at beginning of year | 2,370,197,060 | 1,934,204,455 |
Net assets at end of year | $2,882,831,576 | $2,370,197,060 |
38 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares(a) | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 8,312,667 | 140,389,560 | 9,607,100 | 157,811,887 |
Distributions reinvested | 1,097,938 | 18,509,831 | 1,432,022 | 23,570,925 |
Redemptions | (6,926,687) | (116,752,409) | (8,583,920) | (139,228,952) |
Net increase | 2,483,918 | 42,146,982 | 2,455,202 | 42,153,860 |
Advisor Class | ||||
Subscriptions | 1,991,471 | 33,554,914 | 2,355,039 | 38,536,811 |
Distributions reinvested | 97,522 | 1,642,584 | 95,603 | 1,571,738 |
Redemptions | (1,500,376) | (25,341,212) | (1,674,232) | (27,178,478) |
Net increase | 588,617 | 9,856,286 | 776,410 | 12,930,071 |
Class C | ||||
Subscriptions | 1,064,984 | 17,964,301 | 2,069,780 | 34,125,839 |
Distributions reinvested | 69,766 | 1,175,683 | 103,023 | 1,696,573 |
Redemptions | (1,410,831) | (23,821,415) | (1,065,172) | (17,365,132) |
Net increase (decrease) | (276,081) | (4,681,431) | 1,107,631 | 18,457,280 |
Institutional Class | ||||
Subscriptions | 37,149,596 | 626,137,684 | 46,480,420 | 761,076,389 |
Distributions reinvested | 1,694,992 | 28,541,550 | 1,792,464 | 29,430,614 |
Redemptions | (21,568,835) | (362,833,455) | (31,719,003) | (507,385,098) |
Net increase | 17,275,753 | 291,845,779 | 16,553,881 | 283,121,905 |
Institutional 2 Class | ||||
Subscriptions | 1,862,609 | 31,598,112 | 2,175,766 | 35,519,221 |
Distributions reinvested | 72,208 | 1,215,777 | 93,978 | 1,544,023 |
Redemptions | (1,386,663) | (23,113,391) | (1,564,182) | (24,310,392) |
Net increase | 548,154 | 9,700,498 | 705,562 | 12,752,852 |
Institutional 3 Class | ||||
Subscriptions | 5,486,456 | 92,208,101 | 4,677,514 | 76,252,717 |
Distributions reinvested | 128,924 | 2,175,487 | 133,163 | 2,189,651 |
Redemptions | (1,356,562) | (22,925,081) | (1,745,768) | (28,206,959) |
Net increase | 4,258,818 | 71,458,507 | 3,064,909 | 50,235,409 |
Total net increase | 24,879,179 | 420,326,621 | 24,663,595 | 419,651,377 |
(a) | Share activity has been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 39 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A(c) | |||||||
Year Ended 7/31/2021 | $16.69 | 0.37 | 0.59 | 0.96 | (0.37) | — | (0.37) |
Year Ended 7/31/2020 | $16.48 | 0.44 | 0.25 | 0.69 | (0.44) | (0.04) | (0.48) |
Year Ended 7/31/2019 | $15.98 | 0.52 | 0.54 | 1.06 | (0.52) | (0.04) | (0.56) |
Year Ended 7/31/2018 | $16.10 | 0.56 | (0.08) | 0.48 | (0.56) | (0.04) | (0.60) |
Year Ended 7/31/2017 | $16.73 | 0.56 | (0.59) | (0.03) | (0.56) | (0.04) | (0.60) |
Advisor Class(c) | |||||||
Year Ended 7/31/2021 | $16.67 | 0.41 | 0.59 | 1.00 | (0.41) | — | (0.41) |
Year Ended 7/31/2020 | $16.46 | 0.48 | 0.25 | 0.73 | (0.48) | (0.04) | (0.52) |
Year Ended 7/31/2019 | $15.95 | 0.56 | 0.55 | 1.11 | (0.56) | (0.04) | (0.60) |
Year Ended 7/31/2018 | $16.08 | 0.56 | (0.05) | 0.51 | (0.60) | (0.04) | (0.64) |
Year Ended 7/31/2017 | $16.70 | 0.60 | (0.58) | 0.02 | (0.60) | (0.04) | (0.64) |
Class C(c) | |||||||
Year Ended 7/31/2021 | $16.71 | 0.25 | 0.58 | 0.83 | (0.25) | — | (0.25) |
Year Ended 7/31/2020 | $16.49 | 0.32 | 0.26 | 0.58 | (0.32) | (0.04) | (0.36) |
Year Ended 7/31/2019 | $15.99 | 0.40 | 0.54 | 0.94 | (0.40) | (0.04) | (0.44) |
Year Ended 7/31/2018 | $16.11 | 0.40 | (0.04) | 0.36 | (0.44) | (0.04) | (0.48) |
Year Ended 7/31/2017 | $16.73 | 0.44 | (0.58) | (0.14) | (0.44) | (0.04) | (0.48) |
Institutional Class(c) | |||||||
Year Ended 7/31/2021 | $16.66 | 0.41 | 0.59 | 1.00 | (0.41) | — | (0.41) |
Year Ended 7/31/2020 | $16.45 | 0.48 | 0.25 | 0.73 | (0.48) | (0.04) | (0.52) |
Year Ended 7/31/2019 | $15.94 | 0.56 | 0.55 | 1.11 | (0.56) | (0.04) | (0.60) |
Year Ended 7/31/2018 | $16.07 | 0.56 | (0.05) | 0.51 | (0.60) | (0.04) | (0.64) |
Year Ended 7/31/2017 | $16.69 | 0.60 | (0.58) | 0.02 | (0.60) | (0.04) | (0.64) |
40 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
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(c) | |||||||
Year Ended 7/31/2021 | $17.28 | 5.91% | 0.78%(d) | 0.78%(d) | 2.21% | 14% | $916,301 |
Year Ended 7/31/2020 | $16.69 | 4.25% | 0.80%(e) | 0.80%(e),(f) | 2.66% | 32% | $843,707 |
Year Ended 7/31/2019 | $16.48 | 7.05% | 0.81% | 0.81% | 3.23% | 30% | $792,540 |
Year Ended 7/31/2018 | $15.98 | 2.98% | 0.81% | 0.81%(f) | 3.37% | 19% | $718,879 |
Year Ended 7/31/2017 | $16.10 | (0.09%) | 0.83%(d) | 0.82%(d),(f) | 3.57% | 27% | $636,647 |
Advisor Class(c) | |||||||
Year Ended 7/31/2021 | $17.26 | 6.06% | 0.53%(d) | 0.53%(d) | 2.46% | 14% | $72,397 |
Year Ended 7/31/2020 | $16.67 | 4.77% | 0.55%(e) | 0.55%(e),(f) | 2.91% | 32% | $60,124 |
Year Ended 7/31/2019 | $16.46 | 7.06% | 0.56% | 0.56% | 3.47% | 30% | $46,584 |
Year Ended 7/31/2018 | $15.95 | 3.24% | 0.57% | 0.57%(f) | 3.63% | 19% | $31,934 |
Year Ended 7/31/2017 | $16.08 | 0.16% | 0.59%(d) | 0.57%(d),(f) | 3.83% | 27% | $12,765 |
Class C(c) | |||||||
Year Ended 7/31/2021 | $17.29 | 4.93% | 1.53%(d) | 1.53%(d) | 1.46% | 14% | $90,170 |
Year Ended 7/31/2020 | $16.71 | 3.73% | 1.55%(e) | 1.55%(e),(f) | 1.91% | 32% | $91,717 |
Year Ended 7/31/2019 | $16.49 | 5.98% | 1.56% | 1.56% | 2.48% | 30% | $72,283 |
Year Ended 7/31/2018 | $15.99 | 2.22% | 1.56% | 1.56%(f) | 2.61% | 19% | $59,720 |
Year Ended 7/31/2017 | $16.11 | (0.59%) | 1.58%(d) | 1.58%(d),(f) | 2.82% | 27% | $48,398 |
Institutional Class(c) | |||||||
Year Ended 7/31/2021 | $17.25 | 6.00% | 0.53%(d) | 0.53%(d) | 2.46% | 14% | $1,559,431 |
Year Ended 7/31/2020 | $16.66 | 4.77% | 0.55%(e) | 0.55%(e),(f) | 2.91% | 32% | $1,218,644 |
Year Ended 7/31/2019 | $16.45 | 7.06% | 0.56% | 0.56% | 3.46% | 30% | $930,894 |
Year Ended 7/31/2018 | $15.94 | 3.24% | 0.57% | 0.57%(f) | 3.62% | 19% | $556,945 |
Year Ended 7/31/2017 | $16.07 | 0.40% | 0.59%(d) | 0.58%(d),(f) | 3.84% | 27% | $292,664 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 41 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 2 Class(c) | |||||||
Year Ended 7/31/2021 | $16.66 | 0.41 | 0.60 | 1.01 | (0.42) | — | (0.42) |
Year Ended 7/31/2020 | $16.45 | 0.48 | 0.25 | 0.73 | (0.48) | (0.04) | (0.52) |
Year Ended 7/31/2019 | $15.94 | 0.56 | 0.55 | 1.11 | (0.56) | (0.04) | (0.60) |
Year Ended 7/31/2018 | $16.07 | 0.56 | (0.05) | 0.51 | (0.60) | (0.04) | (0.64) |
Year Ended 7/31/2017 | $16.70 | 0.60 | (0.59) | 0.01 | (0.60) | (0.04) | (0.64) |
Institutional 3 Class(c) | |||||||
Year Ended 7/31/2021 | $16.69 | 0.42 | 0.60 | 1.02 | (0.43) | — | (0.43) |
Year Ended 7/31/2020 | $16.47 | 0.48 | 0.26 | 0.74 | (0.48) | (0.04) | (0.52) |
Year Ended 7/31/2019 | $15.97 | 0.56 | 0.58 | 1.14 | (0.60) | (0.04) | (0.64) |
Year Ended 7/31/2018 | $16.10 | 0.60 | (0.09) | 0.51 | (0.60) | (0.04) | (0.64) |
Year Ended 7/31/2017(g) | $15.80 | 0.24 | 0.30 | 0.54 | (0.24) | — | (0.24) |
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) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
(d) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain inverse floater programs had been excluded, expenses would have been lower by less than 0.01%. Due to an equal increase in interest income from fixed rate municipal bonds held in trust, there is no impact on the Fund’s net assets, net asset value per share, total return or net investment income. |
(e) | Ratios include interest and fee expense related to the participation in certain inverse floater programs. If interest and fee expense related to the participation in certain inverse floater programs had been excluded, expenses would have been lower by 0.01%. Due to an equal increase in interest income from fixed rate municipal bonds held in trust, there is no impact on the Fund’s net assets, net asset value per share, total return or net investment income. |
(f) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(g) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(h) | Annualized. |
42 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
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 2 Class(c) | |||||||
Year Ended 7/31/2021 | $17.25 | 6.01% | 0.53%(d) | 0.52%(d) | 2.47% | 14% | $62,604 |
Year Ended 7/31/2020 | $16.66 | 4.78% | 0.54%(e) | 0.54%(e) | 2.91% | 32% | $51,339 |
Year Ended 7/31/2019 | $16.45 | 7.06% | 0.55% | 0.55% | 3.45% | 30% | $39,068 |
Year Ended 7/31/2018 | $15.94 | 3.23% | 0.57% | 0.57% | 3.61% | 19% | $12,762 |
Year Ended 7/31/2017 | $16.07 | 0.41% | 0.58%(d) | 0.58%(d) | 3.82% | 27% | $9,597 |
Institutional 3 Class(c) | |||||||
Year Ended 7/31/2021 | $17.28 | 6.24% | 0.48%(d) | 0.47%(d) | 2.51% | 14% | $181,928 |
Year Ended 7/31/2020 | $16.69 | 4.58% | 0.49%(e) | 0.49%(e) | 2.96% | 32% | $104,667 |
Year Ended 7/31/2019 | $16.47 | 7.38% | 0.50% | 0.50% | 3.52% | 30% | $52,836 |
Year Ended 7/31/2018 | $15.97 | 3.02% | 0.52% | 0.52% | 3.67% | 19% | $33,118 |
Year Ended 7/31/2017(g) | $16.10 | 3.66% | 0.57%(e),(h) | 0.55%(e),(h) | 3.94%(h) | 27% | $65 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 43 |
July 31, 2021
44 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 45 |
July 31, 2021
46 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 2,380,630* |
* | 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 ($) |
Interest rate risk | (2,011,695) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (2,380,630) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 144,387,282 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 47 |
July 31, 2021
48 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 49 |
July 31, 2021
Effective rate (%) | |
Class A | 0.06 |
Advisor Class | 0.06 |
Class C | 0.06 |
Institutional Class | 0.06 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
50 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 605,701 |
Class C | — | 1.00(b) | 6,735 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through November 30, 2021 | |
Class A | 0.80% |
Advisor Class | 0.55 |
Class C | 1.55 |
Institutional Class | 0.55 |
Institutional 2 Class | 0.54 |
Institutional 3 Class | 0.49 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 51 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(23,958) | 23,958 | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
21,253 | 60,795,429 | — | 60,816,682 | 4,503,247 | 60,685,996 | 2,508,901 | 67,698,144 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
7,682,879 | 7,555,110 | 3,110,025 | — | 185,580,532 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,744,665,925 | 202,091,364 | (16,510,832) | 185,580,532 |
52 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 53 |
July 31, 2021
54 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
July 31, 2021
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 55 |
56 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
Capital gain dividend | Exempt- interest dividends |
$3,265,526 | 99.97% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 57 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
58 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 59 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
60 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 61 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
62 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 63 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
64 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 65 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
66 | Columbia Strategic Municipal Income Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Strategic Municipal Income Fund | Annual Report 2021 | 67 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
20 | |
21 | |
22 | |
24 | |
28 | |
39 | |
40 | |
40 | |
46 | |
47 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 08/18/86 | 3.69 | 3.00 | 4.15 |
Including sales charges | 0.65 | 2.36 | 3.84 | ||
Advisor Class* | 03/19/13 | 3.90 | 3.25 | 4.38 | |
Class C | Excluding sales charges | 06/26/00 | 2.91 | 2.23 | 3.37 |
Including sales charges | 1.91 | 2.23 | 3.37 | ||
Institutional Class | 09/27/10 | 3.86 | 3.24 | 4.42 | |
Institutional 2 Class* | 12/11/13 | 3.99 | 3.26 | 4.35 | |
Institutional 3 Class* | 03/01/17 | 4.09 | 3.24 | 4.27 | |
Bloomberg Barclays Minnesota Municipal Bond Index | 2.43 | 2.99 | 3.69 | ||
Bloomberg Barclays Municipal Bond Index | 3.29 | 3.41 | 4.27 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 3 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 24.0 |
AA rating | 29.6 |
A rating | 24.1 |
BBB rating | 5.4 |
BB rating | 3.8 |
D rating | 0.6 |
Not rated | 12.5 |
Total | 100.0 |
4 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
• | The Fund benefitted from its overweight position in mid- to lower- quality debt. |
○ | Specifically, the Fund was overweight in A and BBB rated, below investment-grade, and non-rated issues, all of which outperformed at a time of high investor demand for yield. |
○ | An above-benchmark weighting in longer maturity bonds, especially those with maturities of 12 years and above, was an additional positive. |
○ | Due to the unprecedented size and speed of the U.S. government’s fiscal response to COVID-19, we believed longer maturity and lower quality debt were attractive areas to emphasize. Given the continued strength in demand for municipal bonds, as well as the ongoing improvement in municipal credit quality, we maintained these aspects of the Fund’s positioning at the close of the period. |
• | At the sector level, overweights in continuing care retirement communities (CCRCs), state general obligations and charter schools added value. Generally speaking, areas that had been hardest hit by COVID-19 generated the best returns as unprecedented levels of government aid flowed into state and local governments. |
• | Security selection in the education, hospital and housing sectors was another significant contributor. |
• | Investments in high-quality and shorter maturity bonds, particularly pre-refunded bonds with maturities of less than two years, were the largest detractors from relative performance. |
• | Security selection in A and BBB rated issues also detracted from results. |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 5 |
6 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,016.00 | 1,021.09 | 3.87 | 3.88 | 0.77 |
Advisor Class | 1,000.00 | 1,000.00 | 1,016.80 | 1,022.34 | 2.61 | 2.62 | 0.52 |
Class C | 1,000.00 | 1,000.00 | 1,011.80 | 1,017.35 | 7.62 | 7.64 | 1.52 |
Institutional Class | 1,000.00 | 1,000.00 | 1,016.80 | 1,022.34 | 2.61 | 2.62 | 0.52 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,017.20 | 1,022.29 | 2.67 | 2.67 | 0.53 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,017.50 | 1,022.54 | 2.41 | 2.42 | 0.48 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 7 |
July 31, 2021
Floating Rate Notes 0.1% | ||||
Issue Description | Effective Yield | Principal Amount ($) | Value ($) | |
Variable Rate Demand Notes 0.1% | ||||
City of Minneapolis/St. Paul Housing & Redevelopment Authority(a),(b) | ||||
Revenue Bonds | ||||
Allina Health Systems | ||||
Series 2009B-2 (JPMorgan Chase Bank) | ||||
11/15/2035 | 0.030% | 400,000 | 400,000 | |
Total Floating Rate Notes (Cost $400,000) | 400,000 | |||
Municipal Bonds 98.4% | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Airport 3.9% | ||||
Minneapolis-St. Paul Metropolitan Airports Commission | ||||
Refunding Revenue Bonds | ||||
Senior Lien | ||||
Series 2016C | ||||
01/01/2046 | 5.000% | 3,000,000 | 3,637,786 | |
Series 2011 | ||||
01/01/2022 | 5.000% | 1,000,000 | 1,003,663 | |
Subordinated Series 2012B | ||||
01/01/2030 | 5.000% | 1,000,000 | 1,019,279 | |
01/01/2031 | 5.000% | 750,000 | 764,459 | |
Subordinated Series 2014A | ||||
01/01/2034 | 5.000% | 1,000,000 | 1,108,885 | |
Subordinated Series 2019A | ||||
01/01/2033 | 5.000% | 7,030,000 | 9,052,654 | |
Minneapolis-St. Paul Metropolitan Airports Commission(c) | ||||
Refunding Revenue Bonds | ||||
Subordinated Series 2019B | ||||
01/01/2035 | 5.000% | 2,295,000 | 2,926,083 | |
01/01/2044 | 5.000% | 5,000,000 | 6,263,892 | |
01/01/2049 | 5.000% | 5,000,000 | 6,231,315 | |
Total | 32,008,016 | |||
Assisted Living 0.8% | ||||
City of Brooklyn Center | ||||
Revenue Bonds | ||||
Sanctuary Brooklyn Center Project | ||||
Series 2016 | ||||
11/01/2035 | 5.500% | 2,150,000 | 2,137,637 | |
City of Red Wing | ||||
Refunding Revenue Bonds | ||||
Deer Crest Project | ||||
Series 2012A | ||||
11/01/2032 | 5.000% | 325,000 | 328,794 | |
11/01/2042 | 5.000% | 1,250,000 | 1,264,196 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
St. Cloud Housing & Redevelopment Authority(d) | ||||
Revenue Bonds | ||||
Sanctuary St. Cloud Project | ||||
Series 2016A | ||||
08/01/2036 | 0.000% | 3,000,000 | 2,638,920 | |
Total | 6,369,547 | |||
Charter Schools 4.9% | ||||
City of Bethel | ||||
Refunding Revenue Bonds | ||||
Spectrum High School Project | ||||
Series 2017 | ||||
07/01/2027 | 3.500% | 1,755,000 | 1,861,528 | |
07/01/2047 | 4.250% | 1,000,000 | 1,077,485 | |
07/01/2052 | 4.375% | 2,255,000 | 2,435,744 | |
City of Cologne | ||||
Revenue Bonds | ||||
Cologne Academy Charter School Project | ||||
Series 2014A | ||||
07/01/2034 | 5.000% | 500,000 | 538,819 | |
07/01/2045 | 5.000% | 2,070,000 | 2,206,574 | |
City of Deephaven | ||||
Refunding Revenue Bonds | ||||
Eagle Ridge Academy Project | ||||
Series 2015 | ||||
07/01/2050 | 5.500% | 1,500,000 | 1,688,702 | |
Revenue Bonds | ||||
Seven Hills Preparatory Academy Project | ||||
Series 2017 | ||||
10/01/2049 | 5.000% | 1,700,000 | 1,771,981 | |
City of Forest Lake | ||||
Revenue Bonds | ||||
Lakes International Language Academy | ||||
Series 2019 | ||||
08/01/2050 | 5.375% | 3,600,000 | 4,175,744 | |
City of Minneapolis(e) | ||||
Revenue Bonds | ||||
Friendship Academy of the Arts | ||||
Series 2019 | ||||
12/01/2052 | 5.250% | 2,000,000 | 2,176,891 | |
City of Minneapolis | ||||
Revenue Bonds | ||||
Northeast College Prep Project | ||||
Series 2020A | ||||
07/01/2040 | 5.000% | 435,000 | 489,532 | |
07/01/2055 | 5.000% | 1,410,000 | 1,557,035 |
8 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Spring Lake Park | ||||
Revenue Bonds | ||||
Academy for Higher Learning Project | ||||
Series 2019 | ||||
06/15/2049 | 5.000% | 2,000,000 | 2,217,357 | |
06/15/2054 | 5.000% | 1,000,000 | 1,105,687 | |
City of Woodbury | ||||
Refunding Revenue Bonds | ||||
Charter School Lease | ||||
Series 2020 | ||||
12/01/2040 | 4.000% | 400,000 | 428,296 | |
12/01/2050 | 4.000% | 550,000 | 584,538 | |
Revenue Bonds | ||||
Woodbury Leadership Project | ||||
Series 2021 | ||||
07/01/2056 | 4.000% | 1,150,000 | 1,263,077 | |
Duluth Housing & Redevelopment Authority | ||||
Refunding Revenue Bonds | ||||
Duluth Public Schools Academy | ||||
Series 2018 | ||||
11/01/2038 | 5.000% | 1,100,000 | 1,240,858 | |
11/01/2048 | 5.000% | 250,000 | 278,104 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Refunding Revenue Bonds | ||||
Hmong College Prep Academy Project | ||||
Series 2020 | ||||
09/01/2055 | 5.000% | 1,500,000 | 1,798,486 | |
Hope Community Academy Project | ||||
Series 2015A | ||||
12/01/2043 | 5.000% | 2,000,000 | 2,088,254 | |
Nova Classical Academy Project | ||||
Series 2016 | ||||
09/01/2036 | 4.000% | 1,000,000 | 1,065,148 | |
09/01/2047 | 4.125% | 1,400,000 | 1,483,440 | |
St. Paul Conservatory | ||||
Series 2013A | ||||
03/01/2028 | 4.000% | 200,000 | 205,518 | |
03/01/2043 | 4.625% | 1,000,000 | 1,025,460 | |
Housing & Redevelopment Authority of The City of St. Paul(e) | ||||
Revenue Bonds | ||||
Minnesota Math & Science Academy | ||||
Series 2021 | ||||
06/01/2041 | 4.000% | 1,120,000 | 1,167,134 | |
06/01/2051 | 4.000% | 1,250,000 | 1,276,471 | |
06/01/2056 | 4.000% | 1,080,000 | 1,098,419 | |
Township of Baytown | ||||
Refunding Revenue Bonds | ||||
Series 2016A | ||||
08/01/2041 | 4.000% | 750,000 | 802,877 | |
08/01/2046 | 4.250% | 1,000,000 | 1,075,357 | |
Total | 40,184,516 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Services 0.2% | ||||
City of Center City | ||||
Refunding Revenue Bonds | ||||
Hazelden Betty Ford Foundation Project | ||||
Series 2019 | ||||
11/01/2041 | 4.000% | 1,000,000 | 1,150,709 | |
Revenue Bonds | ||||
Hazelden Betty Ford Foundation Project | ||||
Series 2014 | ||||
11/01/2044 | 5.000% | 500,000 | 549,486 | |
Total | 1,700,195 | |||
Higher Education 8.0% | ||||
City of Moorhead | ||||
Refunding Revenue Bonds | ||||
Concordia College Corp. Project | ||||
Series 2016 | ||||
12/01/2034 | 5.000% | 1,155,000 | 1,311,027 | |
12/01/2040 | 5.000% | 1,350,000 | 1,521,871 | |
Minnesota Higher Education Facilities Authority | ||||
Refunding Revenue Bonds | ||||
Carleton College | ||||
Series 2017 | ||||
03/01/2037 | 4.000% | 500,000 | 569,725 | |
03/01/2039 | 4.000% | 500,000 | 569,962 | |
03/01/2040 | 4.000% | 1,000,000 | 1,140,202 | |
03/01/2047 | 4.000% | 2,500,000 | 2,853,426 | |
College of St. Scholastica, Inc. | ||||
Series 2019 | ||||
12/01/2040 | 4.000% | 1,200,000 | 1,400,305 | |
Gustavus Adolphus College | ||||
Series 2017 | ||||
10/01/2041 | 4.000% | 3,000,000 | 3,410,918 | |
Macalester College | ||||
Series 2017 | ||||
03/01/2029 | 5.000% | 150,000 | 184,312 | |
03/01/2030 | 5.000% | 175,000 | 215,154 | |
03/01/2042 | 4.000% | 900,000 | 1,026,355 | |
03/01/2048 | 4.000% | 600,000 | 684,818 | |
Series 2021 | ||||
03/01/2040 | 3.000% | 365,000 | 406,444 | |
03/01/2043 | 3.000% | 325,000 | 358,546 | |
St. Catherine University | ||||
Series 2018 | ||||
10/01/2037 | 4.000% | 580,000 | 658,986 | |
10/01/2038 | 4.000% | 920,000 | 1,043,957 | |
10/01/2045 | 5.000% | 2,500,000 | 3,000,398 | |
St. Olaf College | ||||
8th Series 2015G | ||||
12/01/2031 | 5.000% | 740,000 | 871,085 | |
12/01/2032 | 5.000% | 1,000,000 | 1,176,136 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 9 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2016-8N | ||||
10/01/2034 | 4.000% | 1,500,000 | 1,718,345 | |
10/01/2035 | 4.000% | 500,000 | 572,139 | |
University of St. Thomas | ||||
Series 2016-8-L | ||||
04/01/2035 | 5.000% | 750,000 | 878,727 | |
04/01/2039 | 4.000% | 2,000,000 | 2,234,347 | |
Series 2017A | ||||
10/01/2035 | 4.000% | 800,000 | 927,725 | |
10/01/2037 | 4.000% | 750,000 | 866,500 | |
Revenue Bonds | ||||
College of St. Benedict | ||||
Series 2016-8-K | ||||
03/01/2043 | 4.000% | 1,000,000 | 1,085,662 | |
College of St. Scholastica | ||||
Series 2012 | ||||
12/01/2027 | 4.250% | 350,000 | 366,699 | |
12/01/2032 | 4.000% | 350,000 | 363,356 | |
St. John’s University | ||||
Series 2015-8-1 | ||||
10/01/2031 | 5.000% | 370,000 | 432,841 | |
10/01/2032 | 5.000% | 645,000 | 753,079 | |
10/01/2033 | 5.000% | 350,000 | 408,434 | |
10/01/2034 | 5.000% | 380,000 | 442,783 | |
St. Olaf College | ||||
Series 2021 | ||||
10/01/2046 | 4.000% | 1,750,000 | 2,100,147 | |
10/01/2050 | 4.000% | 1,600,000 | 1,912,887 | |
University of St. Thomas | ||||
Series 2019 | ||||
10/01/2040 | 5.000% | 1,250,000 | 1,582,701 | |
10/01/2041 | 4.000% | 1,000,000 | 1,174,368 | |
10/01/2044 | 4.000% | 2,750,000 | 3,210,155 | |
University of Minnesota | ||||
Refunding Revenue Bonds | ||||
Series 2019B | ||||
10/01/2025 | 5.000% | 2,720,000 | 3,249,848 | |
Revenue Bonds | ||||
Series 2014B | ||||
01/01/2044 | 4.000% | 3,750,000 | 4,019,741 | |
Series 2016A | ||||
04/01/2033 | 5.000% | 1,725,000 | 2,057,472 | |
04/01/2034 | 5.000% | 1,855,000 | 2,208,774 | |
Series 2019A | ||||
04/01/2036 | 5.000% | 1,300,000 | 1,672,054 | |
04/01/2037 | 5.000% | 2,000,000 | 2,566,014 | |
04/01/2038 | 5.000% | 4,945,000 | 6,331,851 | |
Total | 65,540,276 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Hospital 18.2% | ||||
City of Crookston | ||||
Revenue Bonds | ||||
Riverview Health Project | ||||
Series 2019 | ||||
05/01/2044 | 5.000% | 500,000 | 523,486 | |
05/01/2051 | 5.000% | 1,500,000 | 1,560,423 | |
City of Glencoe | ||||
Refunding Revenue Bonds | ||||
Glencoe Regional Health Services Project | ||||
Series 2013 | ||||
04/01/2023 | 4.000% | 400,000 | 408,830 | |
04/01/2024 | 4.000% | 745,000 | 761,168 | |
04/01/2026 | 4.000% | 500,000 | 509,851 | |
04/01/2031 | 4.000% | 1,450,000 | 1,469,966 | |
City of Maple Grove | ||||
Refunding Revenue Bonds | ||||
Maple Grove Hospital Corp. | ||||
Series 2017 | ||||
05/01/2037 | 4.000% | 10,500,000 | 11,906,810 | |
North Memorial Health Care | ||||
Series 2015 | ||||
09/01/2032 | 5.000% | 1,000,000 | 1,150,979 | |
09/01/2035 | 4.000% | 1,500,000 | 1,650,766 | |
City of Minneapolis | ||||
Refunding Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2015A | ||||
11/15/2034 | 5.000% | 4,000,000 | 4,678,225 | |
11/15/2044 | 5.000% | 6,475,000 | 7,543,222 | |
Series 2018A | ||||
11/15/2033 | 5.000% | 2,920,000 | 3,713,074 | |
Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2018A | ||||
11/15/2037 | 4.000% | 4,000,000 | 4,644,705 | |
11/15/2038 | 4.000% | 2,630,000 | 3,053,849 | |
City of Plato | ||||
Revenue Bonds | ||||
Glencoe Regional Health Services | ||||
Series 2017 | ||||
04/01/2037 | 4.000% | 1,810,000 | 1,974,151 | |
04/01/2041 | 5.000% | 675,000 | 769,191 | |
City of Rochester | ||||
Refunding Revenue Bonds | ||||
Mayo Clinic | ||||
Series 2016B | ||||
11/15/2035 | 5.000% | 5,000,000 | 7,554,232 | |
11/15/2036 | 5.000% | 12,255,000 | 18,861,313 |
10 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Revenue Bonds | ||||
Mayo Clinic | ||||
Series 2011C (Mandatory Put 11/15/21) | ||||
11/15/2038 | 4.500% | 1,400,000 | 1,417,269 | |
City of Shakopee | ||||
Refunding Revenue Bonds | ||||
St. Francis Regional Medical Center | ||||
Series 2014 | ||||
09/01/2034 | 5.000% | 1,000,000 | 1,088,172 | |
City of St. Cloud | ||||
Refunding Revenue Bonds | ||||
CentraCare Health System | ||||
Series 2014B | ||||
05/01/2024 | 5.000% | 1,400,000 | 1,578,922 | |
Series 2016A | ||||
05/01/2028 | 5.000% | 1,745,000 | 2,101,784 | |
05/01/2037 | 4.000% | 3,175,000 | 3,580,212 | |
05/01/2046 | 5.000% | 3,500,000 | 4,148,874 | |
Series 2019 | ||||
05/01/2048 | 5.000% | 5,000,000 | 6,225,452 | |
City of Winona | ||||
Refunding Revenue Bonds | ||||
Winona Health Obligation Group | ||||
Series 2012 | ||||
07/01/2034 | 5.000% | 750,000 | 751,647 | |
County of Chippewa | ||||
Refunding Revenue Bonds | ||||
Montevideo Hospital Project | ||||
Series 2016 | ||||
03/01/2025 | 4.000% | 1,390,000 | 1,525,535 | |
03/01/2026 | 4.000% | 1,445,000 | 1,617,014 | |
03/01/2037 | 4.000% | 7,660,000 | 8,118,981 | |
Duluth Economic Development Authority | ||||
Refunding Revenue Bonds | ||||
Essentia Health Obligation Group | ||||
Series 2018 | ||||
02/15/2043 | 4.250% | 5,000,000 | 5,798,424 | |
02/15/2048 | 4.250% | 1,000,000 | 1,153,733 | |
02/15/2048 | 5.000% | 1,300,000 | 1,577,685 | |
02/15/2058 | 5.000% | 6,000,000 | 7,245,622 | |
Essential Health Obligated Group | ||||
Series 2018 | ||||
02/15/2043 | 5.000% | 1,615,000 | 1,969,941 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Refunding Revenue Bonds | ||||
Fairview Health Services | ||||
Series 2017 | ||||
11/15/2030 | 5.000% | 1,825,000 | 2,273,681 | |
11/15/2034 | 5.000% | 1,900,000 | 2,349,406 | |
11/15/2036 | 4.000% | 1,200,000 | 1,396,041 | |
11/15/2037 | 4.000% | 600,000 | 696,539 | |
11/15/2043 | 4.000% | 3,000,000 | 3,469,375 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
HealthPartners Obligation Group | ||||
Series 2015 | ||||
07/01/2033 | 5.000% | 3,000,000 | 3,522,117 | |
07/01/2035 | 4.000% | 10,630,000 | 11,807,951 | |
Total | 148,148,618 | |||
Joint Power Authority 3.2% | ||||
Central Minnesota Municipal Power Agency | ||||
Revenue Bonds | ||||
Brookings-Southeast Twin Cities Transmission Project | ||||
Series 2012 | ||||
01/01/2042 | 5.000% | 1,500,000 | 1,527,281 | |
Hutchinson Utilities Commission | ||||
Revenue Bonds | ||||
Series 2012A | ||||
12/01/2022 | 5.000% | 250,000 | 266,068 | |
12/01/2025 | 5.000% | 400,000 | 425,100 | |
Minnesota Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2014 | ||||
10/01/2032 | 5.000% | 250,000 | 285,537 | |
10/01/2033 | 5.000% | 250,000 | 285,367 | |
Series 2014A | ||||
10/01/2035 | 5.000% | 1,000,000 | 1,139,098 | |
Revenue Bonds | ||||
Series 2016 | ||||
10/01/2041 | 4.000% | 1,000,000 | 1,134,221 | |
10/01/2047 | 5.000% | 500,000 | 595,214 | |
Northern Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2017 | ||||
01/01/2034 | 5.000% | 210,000 | 248,142 | |
01/01/2035 | 5.000% | 170,000 | 200,551 | |
01/01/2036 | 5.000% | 180,000 | 211,855 | |
01/01/2041 | 5.000% | 400,000 | 467,231 | |
Revenue Bonds | ||||
Series 2013A | ||||
01/01/2030 | 5.000% | 340,000 | 361,767 | |
01/01/2031 | 5.000% | 460,000 | 489,382 | |
Southern Minnesota Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2035 | 5.000% | 1,000,000 | 1,183,865 | |
01/01/2041 | 5.000% | 2,550,000 | 2,989,773 | |
01/01/2046 | 5.000% | 2,000,000 | 2,329,858 | |
Revenue Bonds | ||||
Series 2017A | ||||
01/01/2042 | 5.000% | 1,000,000 | 1,220,937 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 11 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Southern Minnesota Municipal Power Agency(f) | ||||
Revenue Bonds | ||||
Capital Appreciation | ||||
Series 1994A (NPFGC) | ||||
01/01/2026 | 0.000% | 10,000,000 | 9,614,139 | |
Western Minnesota Municipal Power Agency | ||||
Refunding Revenue Bonds | ||||
Series 2015A | ||||
01/01/2036 | 5.000% | 1,000,000 | 1,181,478 | |
Total | 26,156,864 | |||
Local Appropriation 2.3% | ||||
Anoka-Hennepin Independent School District No. 11 | ||||
Certificate of Participation | ||||
Series 2014A | ||||
02/01/2034 | 5.000% | 1,700,000 | 1,882,672 | |
Duluth Independent School District No. 709 | ||||
Refunding Certificate of Participation | ||||
School District Credit Enhancement Project | ||||
Series 2019B | ||||
02/01/2027 | 5.000% | 740,000 | 898,237 | |
Northeastern Metropolitan Intermediate School District No. 916 | ||||
Certificate of Participation | ||||
Series 2015B | ||||
02/01/2034 | 5.000% | 1,000,000 | 1,144,506 | |
02/01/2042 | 4.000% | 5,250,000 | 5,651,253 | |
Plymouth Intermediate District No. 287 | ||||
Refunding Certificate of Participation | ||||
Series 2016A | ||||
05/01/2030 | 4.000% | 450,000 | 499,054 | |
05/01/2031 | 4.000% | 450,000 | 497,803 | |
St. Paul Independent School District No. 625 | ||||
Certificate of Participation | ||||
Series 2019 (School District Credit Enhancement Program) | ||||
02/01/2037 | 4.000% | 515,000 | 614,691 | |
02/01/2038 | 4.000% | 1,000,000 | 1,191,195 | |
02/01/2039 | 3.000% | 565,000 | 625,097 | |
Series 2020C | ||||
02/01/2040 | 2.500% | 4,285,000 | 4,489,646 | |
Zumbro Education District | ||||
Certificate of Participation | ||||
Series 2021A | ||||
02/01/2038 | 4.000% | 390,000 | 459,993 | |
02/01/2041 | 4.000% | 635,000 | 742,396 | |
Total | 18,696,543 | |||
Local General Obligation 27.1% | ||||
Anoka-Hennepin Independent School District No. 11 | ||||
Unlimited General Obligation Bonds | ||||
School District Credit Enhancement Program | ||||
Series 2020A | ||||
02/01/2045 | 3.000% | 5,000,000 | 5,421,442 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018A | ||||
02/01/2039 | 4.000% | 8,905,000 | 10,229,782 | |
Brainerd Independent School District No. 181 | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2018A (School District Credit Enhancement Program) | ||||
02/01/2037 | 4.000% | 9,800,000 | 11,236,459 | |
Burnsville-Eagan-Savage Independent School District No. 191 | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2015A | ||||
02/01/2031 | 4.000% | 4,820,000 | 5,362,623 | |
Centennial Independent School District No. 12(f) | ||||
Unlimited General Obligation Bonds | ||||
Series 2015A (School District Credit Enhancement Program) | ||||
02/01/2032 | 0.000% | 1,225,000 | 895,588 | |
02/01/2033 | 0.000% | 750,000 | 522,868 | |
Chisago Lakes Independent School District No. 2144 | ||||
Unlimited General Obligation Bonds | ||||
Minnesota School District Credit Enhancement Program | ||||
Series 2017A | ||||
02/01/2030 | 4.000% | 3,145,000 | 3,648,494 | |
City of Elk River | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A | ||||
12/01/2042 | 3.000% | 1,755,000 | 1,919,611 | |
County of Hennepin | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
12/01/2037 | 5.000% | 6,385,000 | 8,544,817 | |
12/01/2038 | 5.000% | 6,700,000 | 8,945,255 | |
Dilworth Glyndon Felton Independent School District No. 2164 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2038 | 3.000% | 1,025,000 | 1,100,233 | |
02/01/2040 | 3.000% | 1,000,000 | 1,070,831 | |
02/01/2041 | 3.000% | 1,230,000 | 1,315,309 | |
Duluth Independent School District No. 709 | ||||
Refunding Certificate of Participation | ||||
Series 2016A (School District Credit Enhancement Program) | ||||
02/01/2028 | 4.000% | 1,500,000 | 1,724,046 | |
Duluth Independent School District No. 709(f),(g) | ||||
Unlimited General Obligation Bonds | ||||
Series 2021C | ||||
02/01/2032 | 0.000% | 1,080,000 | 873,104 | |
02/01/2033 | 0.000% | 1,075,000 | 841,628 | |
Eden Prairie Independent School District No. 272 | ||||
Unlimited General Obligation Bonds | ||||
Series 2019B (School District Credit Enhancement Program) | ||||
02/01/2040 | 3.000% | 3,000,000 | 3,244,674 |
12 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Elk River Independent School District No. 728 | ||||
Unlimited General Obligation Bonds | ||||
School District Credit Enhancement Program | ||||
Series 2020A | ||||
02/01/2034 | 2.000% | 7,000,000 | 7,204,079 | |
Hastings Independent School District No. 200(f) | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2018A (School District Credit Enhancement Program) | ||||
02/01/2032 | 0.000% | 1,305,000 | 1,033,261 | |
02/01/2033 | 0.000% | 2,140,000 | 1,623,964 | |
Hennepin County Regional Railroad Authority | ||||
Limited General Obligation Bonds | ||||
Series 2019A | ||||
12/01/2037 | 5.000% | 4,685,000 | 5,974,456 | |
12/01/2038 | 5.000% | 3,965,000 | 5,046,610 | |
Lac Qui Parle Valley Independent School District No. 2853 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2040 | 2.500% | 2,525,000 | 2,637,672 | |
Litchfield Independent School District No. 465 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2040 | 3.000% | 2,260,000 | 2,466,157 | |
MACCRAY Independent School District No. 2180 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2038 | 2.250% | 2,525,000 | 2,576,750 | |
02/01/2039 | 2.250% | 2,580,000 | 2,627,873 | |
Mahtomedi Independent School District No. 832 | ||||
Unlimited General Obligation Refunding Bonds | ||||
School Building | ||||
Series 2014A (School District Credit Enhancement Program) | ||||
02/01/2030 | 5.000% | 500,000 | 580,520 | |
02/01/2031 | 5.000% | 1,140,000 | 1,323,154 | |
Mankato Independent School District No. 77 | ||||
Unlimited General Obligation Bonds | ||||
School District Credit Enhancement Program | ||||
Series 2020A | ||||
02/01/2033 | 4.000% | 550,000 | 663,406 | |
02/01/2036 | 4.000% | 585,000 | 699,980 | |
Maple River Independent School District No. 2135 | ||||
Unlimited General Obligation Bonds | ||||
School District Credit Enhancement Program | ||||
Series 2020A | ||||
02/01/2050 | 4.000% | 3,230,000 | 3,835,797 | |
Marshall Independent School District No. 413 | ||||
Unlimited General Obligation Bonds | ||||
Series 2019B (School District Credit Enhancement Program) | ||||
02/01/2039 | 3.000% | 2,440,000 | 2,642,939 | |
02/01/2040 | 3.000% | 2,515,000 | 2,720,118 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Metropolitan Council | ||||
Unlimited General Obligation Bonds | ||||
GAN Series 2021C | ||||
12/01/2028 | 5.000% | 4,000,000 | 5,242,963 | |
12/01/2029 | 5.000% | 16,725,000 | 22,451,642 | |
Unlimited General Obligation Refunding Bonds | ||||
Minneapolis-Saint Paul Metropolitan Area | ||||
Series 2020E | ||||
12/01/2028 | 5.000% | 3,135,000 | 4,109,172 | |
12/01/2029 | 5.000% | 3,530,000 | 4,738,672 | |
12/01/2030 | 5.000% | 3,690,000 | 5,063,935 | |
Minneapolis Special School District No. 1 | ||||
Unlimited General Obligation Bonds | ||||
Long-Term Facilities Maintenance | ||||
Series 2017 (School District Credit Enhancement Program) | ||||
02/01/2031 | 5.000% | 2,000,000 | 2,518,861 | |
School Building | ||||
Series 2020B | ||||
02/01/2030 | 5.000% | 1,350,000 | 1,803,184 | |
02/01/2031 | 5.000% | 1,420,000 | 1,885,374 | |
Monticello Independent School District No. 882 | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2016A (School District Credit Enhancement Program) | ||||
02/01/2030 | 4.000% | 1,000,000 | 1,143,449 | |
02/01/2031 | 4.000% | 1,735,000 | 1,977,049 | |
Moorhead Independent School District No. 152 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2041 | 3.000% | 5,600,000 | 6,077,351 | |
Mounds View Independent School District No. 621 | ||||
Unlimited General Obligation Bonds | ||||
Student Credit Enhancement Program School Building | ||||
Series 2018A | ||||
02/01/2043 | 4.000% | 6,455,000 | 7,354,009 | |
Mountain Iron-Buhl Independent School District No. 712 | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2016A (School District Credit Enhancement Program) | ||||
02/01/2032 | 4.000% | 1,775,000 | 2,018,400 | |
North St. Paul-Maplewood-Oakdale Independent School District No. 622 | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A | ||||
02/01/2042 | 3.000% | 7,050,000 | 7,631,006 | |
Richfield Independent School District No. 280 | ||||
Unlimited General Obligation Bonds | ||||
Student Credit Enhancement Program School Building | ||||
Series 2018A | ||||
02/01/2040 | 4.000% | 5,000,000 | 5,679,622 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 13 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Roseville Independent School District No. 623 | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2018A | ||||
02/01/2038 | 4.000% | 10,000,000 | 11,363,060 | |
Russell Tyler Ruthton Independent School District No. 2902 | ||||
Unlimited General Obligation Bonds | ||||
Series 2019A (School District Credit Enhancement Program) | ||||
02/01/2035 | 3.000% | 1,950,000 | 2,171,449 | |
02/01/2036 | 3.000% | 1,000,000 | 1,110,072 | |
02/01/2037 | 3.000% | 1,035,000 | 1,146,002 | |
Sartell-St. Stephen Independent School District No. 748(f) | ||||
Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2016B (School District Credit Enhancement Program) | ||||
02/01/2032 | 0.000% | 1,565,000 | 1,209,708 | |
02/01/2033 | 0.000% | 2,585,000 | 1,919,244 | |
02/01/2034 | 0.000% | 1,500,000 | 1,069,130 | |
Sauk Rapids-Rice Independent School District No. 47 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2040 | 2.625% | 2,250,000 | 2,367,584 | |
St. Francis Independent School District No. 15 | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
02/01/2033 | 4.000% | 450,000 | 471,876 | |
02/01/2034 | 4.000% | 325,000 | 340,584 | |
Watertown-Mayer Independent School District No. 111(f) | ||||
Unlimited General Obligation Bonds | ||||
Capital Appreciation | ||||
Series 2020A | ||||
02/01/2035 | 0.000% | 2,420,000 | 1,837,747 | |
02/01/2039 | 0.000% | 2,175,000 | 1,441,587 | |
Worthington Independent School District No. 518 | ||||
Unlimited General Obligation Bonds | ||||
Series 2020A | ||||
02/01/2035 | 3.000% | 700,000 | 755,014 | |
02/01/2036 | 3.000% | 470,000 | 505,945 | |
02/01/2037 | 3.000% | 500,000 | 537,384 | |
02/01/2038 | 3.000% | 1,000,000 | 1,073,398 | |
02/01/2039 | 3.000% | 1,000,000 | 1,071,968 | |
Total | 220,639,941 | |||
Multi-Family 2.6% | ||||
Anoka Housing & Redevelopment Authority | ||||
Revenue Bonds | ||||
Woodland Park Apartments Project | ||||
Series 2011A | ||||
04/01/2027 | 5.000% | 2,500,000 | 2,507,321 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Crystal | ||||
Revenue Bonds | ||||
Crystal Leased Housing Association | ||||
Series 2014 | ||||
06/01/2031 | 5.250% | 2,500,000 | 2,508,647 | |
City of Minneapolis | ||||
Revenue Bonds | ||||
14th and Central Project | ||||
Series 2020A (FNMA) | ||||
02/01/2038 | 2.350% | 5,000,000 | 5,225,832 | |
City of St. Anthony | ||||
Revenue Bonds | ||||
Multifamily Housing Landings Silver Lake Village | ||||
Series 2013 | ||||
12/01/2030 | 6.000% | 3,000,000 | 3,194,998 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Revenue Bonds | ||||
848 Payne Ave. Apartments Green Bonds | ||||
Series 2020 | ||||
06/01/2038 | 2.330% | 5,000,000 | 5,254,954 | |
Northwest Multi-County Housing & Redevelopment Authority | ||||
Refunding Revenue Bonds | ||||
Pooled Housing Program | ||||
Series 2015 | ||||
07/01/2045 | 5.500% | 2,500,000 | 2,589,834 | |
Total | 21,281,586 | |||
Municipal Power 0.9% | ||||
City of Rochester Electric Utility | ||||
Refunding Revenue Bonds | ||||
Series 2015E | ||||
12/01/2027 | 4.000% | 1,000,000 | 1,147,099 | |
12/01/2028 | 4.000% | 950,000 | 1,086,878 | |
Puerto Rico Electric Power Authority(d),(h) | ||||
Revenue Bonds | ||||
Series 2012A | ||||
07/01/2042 | 0.000% | 5,050,000 | 4,942,688 | |
Total | 7,176,665 | |||
Nursing Home 2.3% | ||||
City of Chatfield | ||||
Refunding Revenue Bonds | ||||
Chosen Valley Care Center | ||||
Series 2019 | ||||
09/01/2044 | 5.000% | 500,000 | 530,857 | |
09/01/2052 | 5.000% | 1,500,000 | 1,578,396 | |
City of Oak Park Heights | ||||
Refunding Revenue Bonds | ||||
Boutwells Landing Care Center | ||||
Series 2013 | ||||
08/01/2025 | 5.250% | 1,480,000 | 1,522,277 |
14 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Sauk Rapids | ||||
Refunding Revenue Bonds | ||||
Good Shepherd Lutheran Home | ||||
Series 2013 | ||||
01/01/2039 | 5.125% | 2,500,000 | 2,527,507 | |
Dakota County Community Development Agency | ||||
Revenue Bonds | ||||
Ebenezer Ridges Care Center TCU Project | ||||
Series 2014S | ||||
09/01/2046 | 5.000% | 2,000,000 | 2,065,399 | |
Duluth Economic Development Authority | ||||
Revenue Bonds | ||||
Benedictine Health System | ||||
Series 2021 | ||||
07/01/2031 | 4.000% | 1,625,000 | 1,802,596 | |
07/01/2041 | 4.000% | 930,000 | 1,013,317 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Revenue Bonds | ||||
Episcopal Homes Project | ||||
Series 2013 | ||||
05/01/2038 | 5.000% | 1,200,000 | 1,214,095 | |
05/01/2048 | 5.125% | 6,250,000 | 6,299,779 | |
Total | 18,554,223 | |||
Other Bond Issue 0.7% | ||||
City of Minneapolis | ||||
Revenue Bonds | ||||
YMCA Greater Twin Cities Project | ||||
Series 2016 | ||||
06/01/2027 | 4.000% | 100,000 | 111,116 | |
06/01/2028 | 4.000% | 170,000 | 187,518 | |
06/01/2029 | 4.000% | 165,000 | 180,694 | |
06/01/2030 | 4.000% | 125,000 | 135,946 | |
06/01/2031 | 4.000% | 100,000 | 108,193 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
08/01/2032 | 3.000% | 500,000 | 511,331 | |
08/01/2033 | 3.000% | 500,000 | 510,489 | |
08/01/2034 | 3.125% | 850,000 | 870,468 | |
08/01/2035 | 3.125% | 800,000 | 818,610 | |
Series 2020A | ||||
12/01/2036 | 5.000% | 1,580,000 | 1,930,312 | |
Total | 5,364,677 | |||
Other Utility 0.8% | ||||
Housing & Redevelopment Authority of The City of St. Paul | ||||
Refunding Revenue Bonds | ||||
Series 2017A | ||||
10/01/2031 | 4.000% | 875,000 | 1,005,597 | |
10/01/2032 | 4.000% | 800,000 | 916,308 | |
10/01/2033 | 4.000% | 655,000 | 747,591 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
St. Paul Port Authority(c) | ||||
Revenue Bonds | ||||
Energy Park Utility Co. Project | ||||
Series 2012 | ||||
08/01/2028 | 5.450% | 250,000 | 256,768 | |
08/01/2036 | 5.700% | 1,250,000 | 1,282,512 | |
Series 2017-4 | ||||
10/01/2040 | 4.000% | 1,000,000 | 1,109,267 | |
St. Paul Port Authority | ||||
Revenue Bonds | ||||
Series 2017-3 | ||||
10/01/2042 | 4.000% | 1,360,000 | 1,522,236 | |
Total | 6,840,279 | |||
Pool / Bond Bank 0.1% | ||||
City of Minneapolis | ||||
Limited Tax Revenue Bonds | ||||
Supported Common Bond | ||||
Series 2010 | ||||
12/01/2030 | 6.250% | 1,000,000 | 1,019,698 | |
Refunded / Escrowed 4.7% | ||||
City of Rochester | ||||
Prerefunded 07/01/23 Revenue Bonds | ||||
Olmsted Medical Center Project | ||||
Series 2013 | ||||
07/01/2024 | 5.000% | 300,000 | 327,453 | |
07/01/2027 | 5.000% | 245,000 | 267,420 | |
07/01/2028 | 5.000% | 225,000 | 245,590 | |
07/01/2033 | 5.000% | 650,000 | 709,482 | |
County of Rice(e) | ||||
Revenue Bonds | ||||
Shattuck-St. Mary’s School | ||||
Series 2015A Escrowed to Maturity | ||||
08/01/2022 | 5.000% | 2,435,000 | 2,547,858 | |
Goodhue County Education District No. 6051 | ||||
Prerefunded 02/01/24 Certificate of Participation | ||||
Series 2014 | ||||
02/01/2029 | 5.000% | 1,200,000 | 1,342,292 | |
02/01/2034 | 5.000% | 1,200,000 | 1,342,292 | |
02/01/2039 | 5.000% | 1,300,000 | 1,454,149 | |
Hermantown Independent School District No. 700 | ||||
Prerefunded 02/01/24 Unlimited General Obligation Bonds | ||||
School Building | ||||
Series 2014A (School District Credit Enhancement Program) | ||||
02/01/2037 | 5.000% | 4,740,000 | 5,308,368 | |
Housing & Redevelopment Authority of The City of St. Paul | ||||
Prerefunded 09/01/21 Revenue Bonds | ||||
Nova Classical Academy | ||||
Series 2011A | ||||
09/01/2042 | 6.625% | 1,500,000 | 1,507,645 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 15 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Prerefunded 11/15/25 Revenue Bonds | ||||
HealthEast Care System Project | ||||
Series 2015 | ||||
11/15/2027 | 5.000% | 2,500,000 | 2,989,066 | |
11/15/2044 | 5.000% | 1,000,000 | 1,195,626 | |
Refunding Revenue Bonds | ||||
HealthEast Care System Project | ||||
Series 2015 Escrowed to Maturity | ||||
11/15/2023 | 5.000% | 1,000,000 | 1,109,293 | |
Minnesota Higher Education Facilities Authority | ||||
Prerefunded 10/01/21 Revenue Bonds | ||||
Hamline University | ||||
7th Series 2011K2 | ||||
10/01/2032 | 6.000% | 1,000,000 | 1,009,401 | |
10/01/2040 | 6.000% | 2,000,000 | 2,018,802 | |
Prerefunded 10/01/22 Revenue Bonds | ||||
St. Catherine University | ||||
7th Series 2012Q | ||||
10/01/2025 | 5.000% | 325,000 | 343,396 | |
10/01/2026 | 5.000% | 280,000 | 295,849 | |
10/01/2027 | 5.000% | 200,000 | 211,321 | |
10/01/2032 | 5.000% | 700,000 | 739,623 | |
University of Minnesota | ||||
Prerefunded 12/01/21 Revenue Bonds | ||||
Series 2011D | ||||
12/01/2036 | 5.000% | 5,985,000 | 6,082,283 | |
Western Minnesota Municipal Power Agency | ||||
Prerefunded 01/01/24 Revenue Bonds | ||||
Series 2014A | ||||
01/01/2040 | 5.000% | 1,000,000 | 1,117,198 | |
01/01/2046 | 5.000% | 4,025,000 | 4,496,722 | |
Worthington Independent School District No. 518 | ||||
Prerefunded 02/01/26 Certificate of Participation | ||||
Series 2017A | ||||
02/01/2039 | 4.000% | 1,370,000 | 1,584,165 | |
Total | 38,245,294 | |||
Retirement Communities 4.2% | ||||
City of Anoka | ||||
Refunding Revenue Bonds | ||||
Homestead at Anoka, Inc. Project | ||||
Series 2017 | ||||
11/01/2046 | 5.000% | 1,500,000 | 1,613,881 | |
City of Apple Valley | ||||
Refunding Revenue Bonds | ||||
Apple Vally Senior Housing | ||||
Series 2018 | ||||
09/01/2053 | 4.500% | 3,000,000 | 3,124,616 | |
City of Blaine | ||||
Refunding Revenue Bonds | ||||
Crest View Senior Community Project | ||||
Series 2015 | ||||
07/01/2050 | 6.125% | 2,500,000 | 2,474,764 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Cloquet(g) | ||||
Refunding Revenue Bonds | ||||
HADC Cloquet LLC Project | ||||
Series 2021 | ||||
08/01/2041 | 4.000% | 500,000 | 515,530 | |
08/01/2048 | 4.000% | 500,000 | 507,900 | |
City of Maple Plain | ||||
Revenue Bonds | ||||
Haven Homes, Inc. Project | ||||
Series 2019 | ||||
07/01/2057 | 4.650% | 1,250,000 | 1,296,354 | |
City of Moorhead | ||||
Refunding Revenue Bonds | ||||
Evercare Senior Living LLC | ||||
Series 2012 | ||||
09/01/2037 | 5.125% | 1,000,000 | 1,000,310 | |
City of North Oaks | ||||
Refunding Revenue Bonds | ||||
Waverly Gardens Project | ||||
Series 2016 | ||||
10/01/2041 | 4.250% | 5,000,000 | 5,430,287 | |
10/01/2047 | 5.000% | 2,000,000 | 2,221,727 | |
City of Red Wing | ||||
Revenue Bonds | ||||
Benedictine Living Community | ||||
Series 2018 | ||||
08/01/2047 | 5.000% | 1,500,000 | 1,554,925 | |
08/01/2053 | 5.000% | 600,000 | 617,609 | |
City of Rochester | ||||
Revenue Bonds | ||||
Homestead Rochester, Inc. Project | ||||
Series 2015 | ||||
12/01/2049 | 5.000% | 2,400,000 | 2,480,352 | |
City of Sartell | ||||
Refunding Revenue Bonds | ||||
Country Manor Campus LLC | ||||
Series 2017 | ||||
09/01/2042 | 4.500% | 2,000,000 | 2,057,775 | |
09/01/2042 | 5.000% | 875,000 | 923,702 | |
City of St. Joseph | ||||
Revenue Bonds | ||||
Woodcrest of Country Manor Project | ||||
Series 2019 | ||||
07/01/2055 | 5.000% | 1,500,000 | 1,541,972 | |
City of St. Paul Park | ||||
Refunding Revenue Bonds | ||||
Presbyterian Homes Bloomington | ||||
Series 2017 | ||||
09/01/2036 | 4.200% | 275,000 | 290,856 | |
09/01/2037 | 4.250% | 300,000 | 317,465 | |
09/01/2042 | 5.000% | 1,000,000 | 1,075,751 |
16 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
City of Wayzata | ||||
Refunding Revenue Bonds | ||||
Folkstone Senior Living Co. | ||||
Series 2019 | ||||
08/01/2054 | 5.000% | 1,625,000 | 1,752,502 | |
Dakota County Community Development Agency(e) | ||||
Refunding Revenue Bonds | ||||
Walker Highviews Hills LLC | ||||
Series 2016 | ||||
08/01/2051 | 5.000% | 1,500,000 | 1,535,710 | |
Woodbury Housing & Redevelopment Authority | ||||
Revenue Bonds | ||||
St. Therese of Woodbury | ||||
Series 2014 | ||||
12/01/2049 | 5.250% | 2,000,000 | 2,110,233 | |
Total | 34,444,221 | |||
Sales Tax 0.7% | ||||
City of St. Paul | ||||
Revenue Bonds | ||||
Series 2014G | ||||
11/01/2032 | 5.000% | 1,250,000 | 1,432,402 | |
Puerto Rico Sales Tax Financing Corp.(f),(h) | ||||
Revenue Bonds | ||||
Series 2018A-1 | ||||
07/01/2046 | 0.000% | 12,751,000 | 4,274,237 | |
Total | 5,706,639 | |||
Single Family 2.6% | ||||
Minneapolis/St. Paul Housing Finance Board | ||||
Mortgage-Backed Revenue Bonds | ||||
City Living | ||||
Series 2011A (GNMA) | ||||
12/01/2027 | 4.450% | 240,000 | 240,166 | |
Minnesota Housing Finance Agency(c) | ||||
Refunding Revenue Bonds | ||||
Residential Housing | ||||
Series 2017D (GNMA) | ||||
01/01/2030 | 3.300% | 125,000 | 133,617 | |
Residential Housing Finance | ||||
Series 2017A | ||||
07/01/2030 | 3.200% | 155,000 | 157,142 | |
Minnesota Housing Finance Agency | ||||
Refunding Revenue Bonds | ||||
Series 2021D (GNMA) | ||||
07/01/2041 | 2.200% | 1,800,000 | 1,824,480 | |
Revenue Bonds | ||||
Mortgage-Backed Securities Pass-Through Program | ||||
Series 2019 (GNMA) | ||||
03/01/2049 | 3.450% | 1,022,983 | 1,081,226 | |
06/01/2049 | 3.150% | 1,114,146 | 1,174,365 |
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2016 (GNMA / FNMA) | ||||
02/01/2046 | 2.950% | 2,947,634 | 3,106,354 | |
Series 2019F | ||||
07/01/2044 | 2.750% | 2,090,000 | 2,190,515 | |
Series 2020B (GNMA) | ||||
01/01/2044 | 2.800% | 3,230,000 | 3,355,661 | |
Series 2020E (GNMA) | ||||
07/01/2044 | 2.700% | 1,525,000 | 1,601,921 | |
Series 2021B (GNMA) | ||||
07/01/2046 | 2.450% | 2,640,000 | 2,697,687 | |
07/01/2051 | 2.500% | 3,590,000 | 3,651,459 | |
Total | 21,214,593 | |||
Special Non Property Tax 0.1% | ||||
Puerto Rico Highway & Transportation Authority(d),(h) | ||||
Unrefunded Revenue Bonds | ||||
Series 2003G | ||||
07/01/2042 | 0.000% | 2,000,000 | 1,062,500 | |
State Appropriated 3.6% | ||||
State of Minnesota | ||||
Refunding Revenue Bonds | ||||
Appropriation | ||||
Series 2012B | ||||
03/01/2025 | 5.000% | 5,000,000 | 5,141,390 | |
03/01/2028 | 5.000% | 3,000,000 | 3,083,232 | |
03/01/2029 | 5.000% | 4,250,000 | 4,367,912 | |
Revenue Bonds | ||||
Appropriation | ||||
Series 2014A | ||||
06/01/2038 | 5.000% | 8,880,000 | 9,602,686 | |
University of Minnesota | ||||
Refunding Revenue Bonds | ||||
State Supported Stadium Debt | ||||
Series 2015 | ||||
08/01/2027 | 5.000% | 1,185,000 | 1,400,468 | |
Revenue Bonds | ||||
State Supported Biomed Science Research Facilities | ||||
Series 2013 | ||||
08/01/2038 | 5.000% | 5,000,000 | 5,444,631 | |
Total | 29,040,319 | |||
State General Obligation 6.2% | ||||
State of Minnesota | ||||
Unlimited General Obligation Bonds | ||||
Series 2018A | ||||
08/01/2031 | 5.000% | 5,000,000 | 6,456,697 | |
08/01/2033 | 5.000% | 7,500,000 | 9,676,618 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 17 |
July 31, 2021
Municipal Bonds (continued) | ||||
Issue Description | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020A | ||||
08/01/2031 | 5.000% | 6,450,000 | 8,768,953 | |
08/01/2032 | 5.000% | 8,830,000 | 11,967,906 | |
08/01/2036 | 5.000% | 5,000,000 | 6,703,542 | |
08/01/2038 | 5.000% | 5,000,000 | 6,669,169 | |
Total | 50,242,885 | |||
Student Loan 0.3% | ||||
Minnesota Office of Higher Education(c) | ||||
Refunding Revenue Bonds | ||||
Series 2020 | ||||
11/01/2038 | 2.650% | 2,500,000 | 2,589,621 | |
Total Municipal Bonds (Cost $752,611,119) | 802,227,716 |
Money Market Funds 0.8% | ||
Shares | Value ($) | |
Dreyfus AMT-Free Tax Exempt Cash Management Fund, Institutional Shares, 0.010%(i) | 265,550 | 265,524 |
JPMorgan Institutional Tax Free Money Market Fund, Institutional Shares, 0.006%(i) | 6,398,365 | 6,398,365 |
Total Money Market Funds (Cost $6,663,915) | 6,663,889 | |
Total Investments in Securities (Cost: $759,675,034) | 809,291,605 | |
Other Assets & Liabilities, Net | 6,010,204 | |
Net Assets | 815,301,809 |
(a) | The Fund is entitled to receive principal and interest from the guarantor after a day or a week’s notice or upon maturity. The maturity date disclosed represents the final maturity. |
(b) | Represents a variable rate security where the coupon rate adjusts on specified dates (generally daily or weekly) using the prevailing money market rate. The interest rate shown was the current rate as of July 31, 2021. |
(c) | Income from this security may be subject to alternative minimum tax. |
(d) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $8,644,108, which represents 1.06% of total net assets. |
(e) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At July 31, 2021, the total value of these securities amounted to $9,802,483, which represents 1.20% of total net assets. |
(f) | Zero coupon bond. |
(g) | Represents a security purchased on a when-issued basis. |
(h) | Municipal obligations include debt obligations issued by or on behalf of territories, possessions, or sovereign nations within the territorial boundaries of the United States. At July 31, 2021, the total value of these securities amounted to $10,279,425, which represents 1.26% of total net assets. |
(i) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
FNMA | Federal National Mortgage Association |
GAN | Grant Anticipation Note |
GNMA | Government National Mortgage Association |
NPFGC | National Public Finance Guarantee Corporation |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
18 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Floating Rate Notes | — | 400,000 | — | 400,000 |
Municipal Bonds | — | 802,227,716 | — | 802,227,716 |
Money Market Funds | 6,663,889 | — | — | 6,663,889 |
Total Investments in Securities | 6,663,889 | 802,627,716 | — | 809,291,605 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 19 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $759,675,034) | $809,291,605 |
Receivable for: | |
Capital shares sold | 2,671,541 |
Interest | 8,864,581 |
Prepaid expenses | 14,034 |
Total assets | 820,841,761 |
Liabilities | |
Due to custodian | 9,417 |
Payable for: | |
Investments purchased on a delayed delivery basis | 2,743,684 |
Capital shares purchased | 1,196,076 |
Distributions to shareholders | 1,436,994 |
Management services fees | 9,973 |
Distribution and/or service fees | 4,485 |
Transfer agent fees | 33,057 |
Compensation of board members | 80,044 |
Other expenses | 26,222 |
Total liabilities | 5,539,952 |
Net assets applicable to outstanding capital stock | $815,301,809 |
Represented by | |
Paid in capital | 766,009,531 |
Total distributable earnings (loss) | 49,292,278 |
Total - representing net assets applicable to outstanding capital stock | $815,301,809 |
Class A | |
Net assets | $457,218,220 |
Shares outstanding | 19,982,917 |
Net asset value per share | $22.88 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $23.59 |
Advisor Class | |
Net assets | $21,987,486 |
Shares outstanding | 961,359 |
Net asset value per share | $22.87 |
Class C | |
Net assets | $49,587,725 |
Shares outstanding | 2,167,121 |
Net asset value per share | $22.88 |
Institutional Class | |
Net assets | $262,777,597 |
Shares outstanding | 11,493,974 |
Net asset value per share | $22.86 |
Institutional 2 Class | |
Net assets | $6,991,138 |
Shares outstanding | 305,973 |
Net asset value per share | $22.85 |
Institutional 3 Class | |
Net assets | $16,739,643 |
Shares outstanding | 731,144 |
Net asset value per share | $22.90 |
20 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $4,420 |
Interest | 22,172,810 |
Total income | 22,177,230 |
Expenses: | |
Management services fees | 3,411,848 |
Distribution and/or service fees | |
Class A | 1,088,878 |
Class C | 536,622 |
Transfer agent fees | |
Class A | 220,149 |
Advisor Class | 8,450 |
Class C | 27,120 |
Institutional Class | 117,546 |
Institutional 2 Class | 3,617 |
Institutional 3 Class | 966 |
Compensation of board members | 44,456 |
Custodian fees | 6,299 |
Printing and postage fees | 29,637 |
Registration fees | 23,802 |
Audit fees | 29,500 |
Legal fees | 15,469 |
Compensation of chief compliance officer | 148 |
Other | 29,071 |
Total expenses | 5,593,578 |
Expense reduction | (60) |
Total net expenses | 5,593,518 |
Net investment income | 16,583,712 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 347,175 |
Futures contracts | 98,531 |
Net realized gain | 445,706 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 11,185,273 |
Net change in unrealized appreciation (depreciation) | 11,185,273 |
Net realized and unrealized gain | 11,630,979 |
Net increase in net assets resulting from operations | $28,214,691 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 21 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $16,583,712 | $17,296,390 |
Net realized gain | 445,706 | 2,354,620 |
Net change in unrealized appreciation (depreciation) | 11,185,273 | 7,692,630 |
Net increase in net assets resulting from operations | 28,214,691 | 27,343,640 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (9,664,942) | (10,470,744) |
Advisor Class | (411,612) | (368,283) |
Class C | (794,758) | (1,012,289) |
Institutional Class | (5,732,193) | (5,023,021) |
Institutional 2 Class | (153,987) | (120,709) |
Institutional 3 Class | (362,087) | (301,310) |
Total distributions to shareholders | (17,119,579) | (17,296,356) |
Increase in net assets from capital stock activity | 83,793,779 | 56,701,117 |
Total increase in net assets | 94,888,891 | 66,748,401 |
Net assets at beginning of year | 720,412,918 | 653,664,517 |
Net assets at end of year | $815,301,809 | $720,412,918 |
22 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares(a) | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,197,625 | 72,304,346 | 2,626,804 | 58,423,876 |
Distributions reinvested | 422,466 | 9,541,542 | 465,105 | 10,350,093 |
Redemptions | (2,316,195) | (52,340,624) | (3,053,307) | (67,324,328) |
Net increase | 1,303,896 | 29,505,264 | 38,602 | 1,449,641 |
Advisor Class | ||||
Subscriptions | 405,286 | 9,177,352 | 259,184 | 5,768,723 |
Distributions reinvested | 18,057 | 407,864 | 16,331 | 363,421 |
Redemptions | (79,961) | (1,808,858) | (207,166) | (4,459,568) |
Net increase | 343,382 | 7,776,358 | 68,349 | 1,672,576 |
Class C | ||||
Subscriptions | 437,970 | 9,909,887 | 467,907 | 10,444,491 |
Distributions reinvested | 34,370 | 776,020 | 44,097 | 981,164 |
Redemptions | (914,953) | (20,709,529) | (540,932) | (11,978,271) |
Net decrease | (442,613) | (10,023,622) | (28,928) | (552,616) |
Institutional Class | ||||
Subscriptions | 3,867,293 | 87,342,708 | 3,929,202 | 86,799,650 |
Distributions reinvested | 248,287 | 5,604,655 | 220,322 | 4,897,388 |
Redemptions | (1,862,768) | (42,024,710) | (1,965,961) | (43,162,104) |
Net increase | 2,252,812 | 50,922,653 | 2,183,563 | 48,534,934 |
Institutional 2 Class | ||||
Subscriptions | 86,562 | 1,955,967 | 218,598 | 4,866,619 |
Distributions reinvested | 6,806 | 153,520 | 5,425 | 120,427 |
Redemptions | (32,317) | (729,173) | (100,039) | (2,130,126) |
Net increase | 61,051 | 1,380,314 | 123,984 | 2,856,920 |
Institutional 3 Class | ||||
Subscriptions | 256,267 | 5,789,316 | 186,696 | 4,156,437 |
Distributions reinvested | 16,003 | 361,825 | 13,524 | 301,024 |
Redemptions | (84,776) | (1,918,329) | (78,848) | (1,717,799) |
Net increase | 187,494 | 4,232,812 | 121,372 | 2,739,662 |
Total net increase | 3,706,022 | 83,793,779 | 2,506,942 | 56,701,117 |
(a) | Share activity has been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A(c) | |||||||
Year Ended 7/31/2021 | $22.56 | 0.48 | 0.34 | 0.82 | (0.49) | (0.01) | (0.50) |
Year Ended 7/31/2020 | $22.22 | 0.56 | 0.34 | 0.90 | (0.56) | — | (0.56) |
Year Ended 7/31/2019 | $21.49 | 0.64 | 0.73 | 1.37 | (0.64) | — | (0.64) |
Year Ended 7/31/2018 | $22.01 | 0.64 | (0.44) | 0.20 | (0.64) | (0.08) | (0.72) |
Year Ended 7/31/2017 | $22.72 | 0.68 | (0.71) | (0.03) | (0.68) | (0.00)(e) | (0.68) |
Advisor Class(c) | |||||||
Year Ended 7/31/2021 | $22.55 | 0.54 | 0.34 | 0.88 | (0.55) | (0.01) | (0.56) |
Year Ended 7/31/2020 | $22.21 | 0.60 | 0.34 | 0.94 | (0.60) | — | (0.60) |
Year Ended 7/31/2019 | $21.47 | 0.68 | 0.78 | 1.46 | (0.72) | — | (0.72) |
Year Ended 7/31/2018 | $22.00 | 0.68 | (0.41) | 0.27 | (0.72) | (0.08) | (0.80) |
Year Ended 7/31/2017 | $22.71 | 0.72 | (0.71) | 0.01 | (0.72) | (0.00)(e) | (0.72) |
Class C(c) | |||||||
Year Ended 7/31/2021 | $22.56 | 0.32 | 0.33 | 0.65 | (0.32) | (0.01) | (0.33) |
Year Ended 7/31/2020 | $22.22 | 0.40 | 0.34 | 0.74 | (0.40) | — | (0.40) |
Year Ended 7/31/2019 | $21.49 | 0.48 | 0.73 | 1.21 | (0.48) | — | (0.48) |
Year Ended 7/31/2018 | $22.01 | 0.48 | (0.44) | 0.04 | (0.48) | (0.08) | (0.56) |
Year Ended 7/31/2017 | $22.72 | 0.48 | (0.71) | (0.23) | (0.48) | (0.00)(e) | (0.48) |
Institutional Class(c) | |||||||
Year Ended 7/31/2021 | $22.54 | 0.54 | 0.34 | 0.88 | (0.55) | (0.01) | (0.56) |
Year Ended 7/31/2020 | $22.20 | 0.60 | 0.34 | 0.94 | (0.60) | — | (0.60) |
Year Ended 7/31/2019 | $21.47 | 0.68 | 0.77 | 1.45 | (0.72) | — | (0.72) |
Year Ended 7/31/2018 | $21.99 | 0.68 | (0.40) | 0.28 | (0.72) | (0.08) | (0.80) |
Year Ended 7/31/2017 | $22.70 | 0.72 | (0.71) | 0.01 | (0.72) | (0.00)(e) | (0.72) |
24 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
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(c) | |||||||
Year Ended 7/31/2021 | $22.88 | 3.69% | 0.77% | 0.77%(d) | 2.15% | 7% | $457,218 |
Year Ended 7/31/2020 | $22.56 | 4.17% | 0.77% | 0.77%(d) | 2.49% | 25% | $421,457 |
Year Ended 7/31/2019 | $22.22 | 6.50% | 0.78% | 0.78% | 2.95% | 18% | $414,107 |
Year Ended 7/31/2018 | $21.49 | 0.98% | 0.78% | 0.78%(d) | 2.90% | 17% | $402,818 |
Year Ended 7/31/2017 | $22.01 | (0.20%) | 0.79% | 0.79%(d) | 2.99% | 19% | $422,118 |
Advisor Class(c) | |||||||
Year Ended 7/31/2021 | $22.87 | 3.90% | 0.52% | 0.52%(d) | 2.39% | 7% | $21,987 |
Year Ended 7/31/2020 | $22.55 | 4.44% | 0.52% | 0.52%(d) | 2.74% | 25% | $13,938 |
Year Ended 7/31/2019 | $22.21 | 6.77% | 0.53% | 0.53% | 3.19% | 18% | $12,205 |
Year Ended 7/31/2018 | $21.47 | 1.23% | 0.54% | 0.54%(d) | 3.16% | 17% | $7,443 |
Year Ended 7/31/2017 | $22.00 | 0.05% | 0.54% | 0.54%(d) | 3.24% | 19% | $4,228 |
Class C(c) | |||||||
Year Ended 7/31/2021 | $22.88 | 2.91% | 1.52% | 1.52%(d) | 1.41% | 7% | $49,588 |
Year Ended 7/31/2020 | $22.56 | 3.40% | 1.53% | 1.53%(d) | 1.74% | 25% | $58,885 |
Year Ended 7/31/2019 | $22.22 | 5.70% | 1.53% | 1.53% | 2.20% | 18% | $58,620 |
Year Ended 7/31/2018 | $21.49 | 0.22% | 1.53% | 1.53%(d) | 2.14% | 17% | $63,680 |
Year Ended 7/31/2017 | $22.01 | (0.95%) | 1.54% | 1.54%(d) | 2.24% | 19% | $73,206 |
Institutional Class(c) | |||||||
Year Ended 7/31/2021 | $22.86 | 3.86% | 0.52% | 0.52%(d) | 2.39% | 7% | $262,778 |
Year Ended 7/31/2020 | $22.54 | 4.44% | 0.52% | 0.52%(d) | 2.74% | 25% | $208,340 |
Year Ended 7/31/2019 | $22.20 | 6.76% | 0.53% | 0.53% | 3.19% | 18% | $156,662 |
Year Ended 7/31/2018 | $21.47 | 1.23% | 0.53% | 0.53%(d) | 3.15% | 17% | $119,138 |
Year Ended 7/31/2017 | $21.99 | 0.05% | 0.55% | 0.55%(d) | 3.23% | 19% | $107,860 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 25 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 2 Class(c) | |||||||
Year Ended 7/31/2021 | $22.53 | 0.54 | 0.33 | 0.87 | (0.54) | (0.01) | (0.55) |
Year Ended 7/31/2020 | $22.18 | 0.60 | 0.35 | 0.95 | (0.60) | — | (0.60) |
Year Ended 7/31/2019 | $21.45 | 0.68 | 0.73 | 1.41 | (0.68) | — | (0.68) |
Year Ended 7/31/2018 | $21.98 | 0.68 | (0.41) | 0.27 | (0.72) | (0.08) | (0.80) |
Year Ended 7/31/2017 | $22.70 | 0.72 | (0.72) | 0.00 | (0.72) | (0.00)(e) | (0.72) |
Institutional 3 Class(c) | |||||||
Year Ended 7/31/2021 | $22.58 | 0.55 | 0.34 | 0.89 | (0.56) | (0.01) | (0.57) |
Year Ended 7/31/2020 | $22.23 | 0.60 | 0.35 | 0.95 | (0.60) | — | (0.60) |
Year Ended 7/31/2019 | $21.50 | 0.68 | 0.77 | 1.45 | (0.72) | — | (0.72) |
Year Ended 7/31/2018 | $22.04 | 0.68 | (0.42) | 0.26 | (0.72) | (0.08) | (0.80) |
Year Ended 7/31/2017(f) | $21.64 | 0.28 | 0.40(g) | 0.68 | (0.28) | — | (0.28) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Rounds to zero. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(h) | Annualized. |
26 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
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 2 Class(c) | |||||||
Year Ended 7/31/2021 | $22.85 | 3.99% | 0.53% | 0.53% | 2.39% | 7% | $6,991 |
Year Ended 7/31/2020 | $22.53 | 4.24% | 0.54% | 0.54% | 2.72% | 25% | $5,519 |
Year Ended 7/31/2019 | $22.18 | 6.95% | 0.54% | 0.54% | 3.20% | 18% | $2,683 |
Year Ended 7/31/2018 | $21.45 | 1.21% | 0.55% | 0.55% | 3.15% | 17% | $2,433 |
Year Ended 7/31/2017 | $21.98 | 0.03% | 0.56% | 0.56% | 3.23% | 19% | $1,155 |
Institutional 3 Class(c) | |||||||
Year Ended 7/31/2021 | $22.90 | 4.09% | 0.48% | 0.48% | 2.43% | 7% | $16,740 |
Year Ended 7/31/2020 | $22.58 | 4.29% | 0.48% | 0.48% | 2.77% | 25% | $12,274 |
Year Ended 7/31/2019 | $22.23 | 6.80% | 0.49% | 0.49% | 3.24% | 18% | $9,387 |
Year Ended 7/31/2018 | $21.50 | 1.27% | 0.50% | 0.50% | 3.23% | 17% | $7,339 |
Year Ended 7/31/2017(f) | $22.04 | 3.20% | 0.53%(h) | 0.53%(h) | 3.17%(h) | 19% | $10 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 29 |
July 31, 2021
30 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 98,531 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — short | 11,559,180 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.05 |
Advisor Class | 0.05 |
Class C | 0.05 |
Institutional Class | 0.05 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 33 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.75(a) | 343,885 |
Class C | — | 1.00(b) | 3,590 |
(a) | This charge is imposed on certain investments of $500,000 or more if redeemed within 12 months after purchase. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through November 30, 2021 | |
Class A | 0.85% |
Advisor Class | 0.60 |
Class C | 1.60 |
Institutional Class | 0.60 |
Institutional 2 Class | 0.61 |
Institutional 3 Class | 0.56 |
34 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(1) | 1 | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||||
Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Tax-exempt income ($) | Long-term capital gains ($) | Total ($) |
410,997 | 16,646,903 | 61,679 | 17,119,579 | 302 | 17,296,054 | — | 17,296,356 |
Undistributed ordinary income ($) | Undistributed tax- exempt income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,318,411 | 1,647,840 | 51,749 | — | 47,790,213 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
761,501,392 | 48,406,459 | (616,246) | 47,790,213 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 35 |
July 31, 2021
36 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
July 31, 2021
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 37 |
July 31, 2021
38 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 39 |
Capital gain dividend | Exempt- interest dividends |
$67,469 | 99.99% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
40 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 41 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
42 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 43 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
44 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 45 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
46 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 47 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
48 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 | 49 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
50 | Columbia Minnesota Tax-Exempt Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
14 | |
16 | |
17 | |
20 | |
24 | |
36 | |
37 | |
37 | |
43 | |
44 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 06/19/03 | 1.43 | 2.97 | 2.50 |
Including sales charges | -1.60 | 2.35 | 2.19 | ||
Advisor Class* | 02/28/13 | 1.78 | 3.25 | 2.73 | |
Class C | Excluding sales charges | 06/19/03 | 0.68 | 2.20 | 1.74 |
Including sales charges | -0.32 | 2.20 | 1.74 | ||
Institutional Class | 09/27/10 | 1.68 | 3.25 | 2.76 | |
Institutional 2 Class* | 11/08/12 | 1.73 | 3.28 | 2.79 | |
Institutional 3 Class* | 03/19/13 | 1.78 | 3.35 | 2.82 | |
Bloomberg Barclays U.S. 1-5 Year Corporate Index | 1.71 | 3.10 | 2.95 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Corporate Bonds & Notes | 83.0 |
Money Market Funds | 8.4 |
U.S. Treasury Obligations | 8.6 |
Total | 100.0 |
Quality breakdown (%) (at July 31, 2021) | |
AAA rating | 9.4 |
AA rating | 4.5 |
A rating | 30.5 |
BBB rating | 46.7 |
BB rating | 8.9 |
Total | 100.0 |
4 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
• | The Fund’s duration and yield curve positioning during the period was the principal constraint on performance relative to the benchmark. (Duration is a measure of a portfolio’s sensitivity to changes in interest rates.) |
• | Positive contributions to the Fund’s performance relative to the benchmark were led by individual security selection, most notably within the food & beverage and energy sectors. |
• | Industry selection also contributed to performance as overweights to segments such as life insurance, midstream (within energy) and aerospace & defense proved beneficial. |
• | More broadly, the Fund’s consistent overweight to credit versus the benchmark aided relative return as risk sentiment was well supported over most of the period by monetary and fiscal policy. |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 5 |
6 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,002.00 | 1,021.09 | 3.84 | 3.88 | 0.77 |
Advisor Class | 1,000.00 | 1,000.00 | 1,004.20 | 1,022.34 | 2.60 | 2.62 | 0.52 |
Class C | 1,000.00 | 1,000.00 | 999.30 | 1,017.35 | 7.58 | 7.64 | 1.52 |
Institutional Class | 1,000.00 | 1,000.00 | 1,004.20 | 1,022.34 | 2.60 | 2.62 | 0.52 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,003.50 | 1,022.54 | 2.40 | 2.42 | 0.48 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,003.70 | 1,022.79 | 2.15 | 2.17 | 0.43 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 7 |
July 31, 2021
Corporate Bonds & Notes 82.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 3.0% | ||||
Boeing Co. (The) | ||||
02/01/2026 | 2.750% | 9,240,000 | 9,670,773 | |
02/04/2026 | 2.196% | 9,583,000 | 9,665,586 | |
Raytheon Technologies Corp. | ||||
03/15/2022 | 2.800% | 8,808,000 | 8,927,533 | |
United Technologies Corp. | ||||
11/16/2028 | 4.125% | 4,745,000 | 5,506,239 | |
Total | 33,770,131 | |||
Automotive 0.3% | ||||
General Motors Financial Co., Inc. | ||||
06/20/2025 | 2.750% | 3,000,000 | 3,173,154 | |
Banking 18.5% | ||||
Bank of America Corp.(a) | ||||
02/13/2026 | 2.015% | 12,275,000 | 12,672,244 | |
07/22/2027 | 1.734% | 15,425,000 | 15,699,864 | |
Bank of Nova Scotia (The)(b) | ||||
07/31/2024 | 0.650% | 7,112,000 | 7,121,444 | |
Citigroup, Inc.(a) | ||||
04/08/2026 | 3.106% | 9,045,000 | 9,688,029 | |
06/09/2027 | 1.462% | 22,530,000 | 22,579,446 | |
Goldman Sachs Group, Inc. (The)(a) | ||||
09/29/2025 | 3.272% | 14,575,000 | 15,626,399 | |
03/09/2027 | 1.431% | 10,799,000 | 10,848,901 | |
HSBC Holdings PLC(a) | ||||
05/24/2025 | 0.976% | 4,794,000 | 4,806,272 | |
JPMorgan Chase & Co.(a) | ||||
03/13/2026 | 2.005% | 29,685,000 | 30,762,419 | |
Morgan Stanley(a) | ||||
01/25/2024 | 0.529% | 7,624,000 | 7,625,591 | |
07/22/2025 | 2.720% | 14,725,000 | 15,501,095 | |
05/04/2027 | 1.593% | 6,306,000 | 6,401,578 | |
Toronto-Dominion Bank (The) | ||||
06/02/2023 | 0.300% | 10,860,000 | 10,855,847 | |
Truist Financial Corp.(a) | ||||
03/02/2027 | 1.267% | 4,915,000 | 4,940,638 | |
Wells Fargo & Co.(a) | ||||
04/30/2026 | 2.188% | 9,510,000 | 9,910,216 | |
06/17/2027 | 3.196% | 14,420,000 | 15,682,780 | |
Wells Fargo Bank NA | ||||
10/22/2021 | 3.625% | 4,610,000 | 4,630,867 | |
Total | 205,353,630 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 2.7% | ||||
Charter Communications Operating LLC/Capital | ||||
07/23/2022 | 4.464% | 3,543,000 | 3,656,069 | |
02/15/2028 | 3.750% | 7,325,000 | 8,139,446 | |
Sky PLC(c) | ||||
09/16/2024 | 3.750% | 16,125,000 | 17,633,304 | |
Total | 29,428,819 | |||
Construction Machinery 1.4% | ||||
Caterpillar Financial Services Corp. | ||||
05/17/2024 | 0.450% | 8,523,000 | 8,521,639 | |
United Rentals North America, Inc. | ||||
11/15/2027 | 3.875% | 7,195,000 | 7,516,414 | |
Total | 16,038,053 | |||
Diversified Manufacturing 2.7% | ||||
Carrier Global Corp. | ||||
02/15/2025 | 2.242% | 14,040,000 | 14,688,609 | |
Honeywell International, Inc. | ||||
08/19/2022 | 0.483% | 5,625,000 | 5,625,594 | |
Siemens Financieringsmaatschappij NV(c) | ||||
05/27/2022 | 2.900% | 3,660,000 | 3,740,493 | |
03/11/2024 | 0.650% | 6,131,000 | 6,151,560 | |
Total | 30,206,256 | |||
Electric 13.8% | ||||
AEP Texas, Inc. | ||||
10/01/2022 | 2.400% | 11,375,000 | 11,635,968 | |
American Electric Power Co., Inc. | ||||
12/01/2021 | 3.650% | 1,548,000 | 1,565,395 | |
CenterPoint Energy, Inc. | ||||
09/01/2024 | 2.500% | 10,676,000 | 11,192,433 | |
06/01/2026 | 1.450% | 5,062,000 | 5,123,538 | |
CMS Energy Corp. | ||||
03/01/2024 | 3.875% | 2,158,000 | 2,314,803 | |
11/15/2025 | 3.600% | 9,345,000 | 10,254,899 | |
Dominion Energy, Inc. | ||||
03/15/2025 | 3.300% | 1,030,000 | 1,117,675 | |
Edison International | ||||
11/15/2024 | 3.550% | 1,850,000 | 1,974,419 | |
Emera US Finance LP(c) | ||||
06/15/2024 | 0.833% | 3,555,000 | 3,546,766 | |
Emera US Finance LP | ||||
06/15/2026 | 3.550% | 12,581,000 | 13,826,841 |
8 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Entergy Corp. | ||||
09/15/2025 | 0.900% | 2,905,000 | 2,885,863 | |
Eversource Energy | ||||
10/01/2024 | 2.900% | 9,570,000 | 10,189,352 | |
01/15/2025 | 3.150% | 1,215,000 | 1,303,219 | |
08/15/2025 | 0.800% | 3,730,000 | 3,718,494 | |
Georgia Power Co. | ||||
07/30/2023 | 2.100% | 16,520,000 | 17,084,843 | |
NextEra Energy Capital Holdings, Inc. | ||||
03/01/2023 | 0.650% | 7,001,000 | 7,026,790 | |
NextEra Energy Operating Partners LP(c) | ||||
07/15/2024 | 4.250% | 5,630,000 | 5,948,918 | |
NRG Energy, Inc.(c) | ||||
12/02/2027 | 2.450% | 7,563,000 | 7,728,711 | |
Pacific Gas and Electric Co. | ||||
07/01/2025 | 3.450% | 5,040,000 | 5,263,679 | |
06/15/2028 | 3.000% | 5,465,000 | 5,477,986 | |
Pinnacle West Capital Corp. | ||||
06/15/2025 | 1.300% | 5,000,000 | 5,062,835 | |
Public Service Enterprise Group, Inc. | ||||
11/15/2021 | 2.000% | 6,035,000 | 6,056,065 | |
06/15/2024 | 2.875% | 6,373,000 | 6,765,348 | |
WEC Energy Group, Inc. | ||||
09/15/2023 | 0.550% | 3,380,000 | 3,385,488 | |
06/15/2025 | 3.550% | 2,793,000 | 3,058,502 | |
Total | 153,508,830 | |||
Environmental 0.6% | ||||
GFL Environmental, Inc.(c) | ||||
08/01/2025 | 3.750% | 5,880,000 | 6,049,663 | |
Finance Companies 1.5% | ||||
GE Capital International Funding Co. Unlimited Co. | ||||
11/15/2025 | 3.373% | 14,765,000 | 16,208,112 | |
Food and Beverage 5.1% | ||||
Bacardi Ltd.(c) | ||||
05/15/2028 | 4.700% | 18,045,000 | 21,225,316 | |
Kraft Heinz Foods Co. | ||||
06/01/2026 | 3.000% | 10,469,000 | 11,134,009 | |
Mondelez International Holdings Netherlands BV(c) | ||||
10/28/2021 | 2.000% | 12,575,000 | 12,609,309 | |
Mondelez International, Inc. | ||||
07/01/2022 | 0.625% | 11,825,000 | 11,869,874 | |
Total | 56,838,508 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Care 3.1% | ||||
Becton Dickinson and Co. | ||||
06/06/2022 | 2.894% | 4,012,000 | 4,091,024 | |
06/06/2024 | 3.363% | 8,345,000 | 8,934,672 | |
Cigna Corp. | ||||
10/15/2028 | 4.375% | 4,680,000 | 5,505,407 | |
CVS Health Corp. | ||||
03/25/2028 | 4.300% | 4,726,000 | 5,472,257 | |
HCA, Inc. | ||||
02/01/2025 | 5.375% | 9,460,000 | 10,710,112 | |
Total | 34,713,472 | |||
Healthcare Insurance 1.5% | ||||
Centene Corp. | ||||
12/15/2027 | 4.250% | 5,524,000 | 5,820,864 | |
07/15/2028 | 2.450% | 11,015,000 | 11,153,946 | |
Total | 16,974,810 | |||
Independent Energy 0.4% | ||||
Canadian Natural Resources Ltd. | ||||
07/15/2025 | 2.050% | 4,635,000 | 4,792,476 | |
Integrated Energy 0.5% | ||||
Cenovus Energy, Inc. | ||||
07/15/2025 | 5.375% | 2,610,000 | 2,978,475 | |
04/15/2027 | 4.250% | 2,615,000 | 2,928,284 | |
Total | 5,906,759 | |||
Life Insurance 8.6% | ||||
Five Corners Funding Trust(c) | ||||
11/15/2023 | 4.419% | 13,085,000 | 14,229,279 | |
MassMutual Global Funding II(c) | ||||
07/01/2022 | 2.250% | 4,609,000 | 4,696,256 | |
07/16/2026 | 1.200% | 11,290,000 | 11,345,903 | |
Metropolitan Life Global Funding I(c) | ||||
06/08/2023 | 0.900% | 5,065,000 | 5,120,669 | |
Pacific Life Global Funding II(c) | ||||
06/24/2025 | 1.200% | 7,355,000 | 7,431,863 | |
04/14/2026 | 1.375% | 12,383,000 | 12,545,987 | |
Peachtree Corners Funding Trust(c) | ||||
02/15/2025 | 3.976% | 20,279,000 | 22,296,567 | |
Principal Life Global Funding II(c) | ||||
11/21/2024 | 2.250% | 16,980,000 | 17,759,219 | |
Total | 95,425,743 | |||
Media and Entertainment 1.3% | ||||
Netflix, Inc.(c) | ||||
06/15/2025 | 3.625% | 9,450,000 | 10,153,371 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 9 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Walt Disney Co. (The) | ||||
09/01/2022 | 1.650% | 3,691,000 | 3,749,124 | |
Total | 13,902,495 | |||
Metals and Mining 0.7% | ||||
Freeport-McMoRan, Inc. | ||||
11/14/2024 | 4.550% | 6,945,000 | 7,550,451 | |
Midstream 2.4% | ||||
Colorado Interstate Gas Co. LLC/Issuing Corp.(c) | ||||
08/15/2026 | 4.150% | 3,709,000 | 4,179,130 | |
Energy Transfer Partners LP | ||||
01/15/2026 | 4.750% | 2,090,000 | 2,358,516 | |
MPLX LP | ||||
12/01/2027 | 4.250% | 2,380,000 | 2,716,687 | |
Plains All American Pipeline LP/Finance Corp. | ||||
12/15/2026 | 4.500% | 10,900,000 | 12,310,433 | |
Western Gas Partners LP | ||||
07/01/2026 | 4.650% | 4,815,000 | 5,159,386 | |
Total | 26,724,152 | |||
Natural Gas 0.7% | ||||
NiSource Finance Corp. | ||||
05/15/2027 | 3.490% | 7,339,000 | 8,162,964 | |
Packaging 1.3% | ||||
Berry Global, Inc.(c) | ||||
02/15/2024 | 0.950% | 5,891,000 | 5,907,494 | |
01/15/2026 | 1.570% | 8,326,000 | 8,387,314 | |
Total | 14,294,808 | |||
Pharmaceuticals 3.9% | ||||
AbbVie, Inc. | ||||
11/14/2023 | 3.750% | 5,600,000 | 5,996,042 | |
03/15/2025 | 3.800% | 14,067,000 | 15,412,780 | |
Amgen, Inc. | ||||
05/11/2022 | 2.650% | 6,045,000 | 6,145,527 | |
AstraZeneca Finance LLC | ||||
05/28/2026 | 1.200% | 8,617,000 | 8,684,638 | |
Gilead Sciences, Inc. | ||||
09/01/2023 | 2.500% | 7,226,000 | 7,517,419 | |
Total | 43,756,406 | |||
Railroads 0.3% | ||||
Norfolk Southern Corp. | ||||
04/01/2022 | 3.000% | 3,085,000 | 3,120,181 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Supermarkets 0.6% | ||||
Kroger Co. (The) | ||||
11/01/2021 | 2.950% | 1,952,000 | 1,960,535 | |
04/15/2022 | 3.400% | 4,453,000 | 4,514,622 | |
Total | 6,475,157 | |||
Technology 2.6% | ||||
Fidelity National Information Services, Inc. | ||||
03/01/2024 | 0.600% | 1,979,000 | 1,979,233 | |
Microchip Technology, Inc. | ||||
09/01/2023 | 2.670% | 2,480,000 | 2,577,665 | |
Microchip Technology, Inc.(c) | ||||
02/15/2024 | 0.972% | 7,305,000 | 7,318,037 | |
09/01/2024 | 0.983% | 4,188,000 | 4,179,713 | |
NXP BV/Funding LLC/USA, Inc.(c) | ||||
05/01/2025 | 2.700% | 2,225,000 | 2,353,698 | |
Oracle Corp. | ||||
03/25/2026 | 1.650% | 7,499,000 | 7,643,456 | |
VeriSign, Inc. | ||||
04/01/2025 | 5.250% | 2,245,000 | 2,553,442 | |
Total | 28,605,244 | |||
Tobacco 0.5% | ||||
BAT Capital Corp. | ||||
08/15/2027 | 3.557% | 5,055,000 | 5,473,203 | |
Wireless 3.0% | ||||
Crown Castle International Corp. | ||||
09/01/2024 | 3.200% | 6,500,000 | 6,944,588 | |
T-Mobile USA, Inc. | ||||
04/15/2025 | 3.500% | 9,840,000 | 10,687,178 | |
02/15/2026 | 2.250% | 8,678,000 | 8,783,245 | |
T-Mobile USA, Inc.(c) | ||||
02/15/2026 | 2.250% | 7,028,000 | 7,104,132 | |
Total | 33,519,143 | |||
Wirelines 1.5% | ||||
AT&T, Inc. | ||||
03/25/2026 | 1.700% | 15,964,000 | 16,208,882 | |
Total Corporate Bonds & Notes (Cost $898,658,490) | 916,181,502 | |||
U.S. Treasury Obligations 8.6% | ||||
U.S. Treasury | ||||
08/15/2022 | 1.500% | 5,609,200 | 5,691,366 | |
10/31/2022 | 0.125% | 9,897,400 | 9,899,720 | |
06/30/2023 | 0.125% | 11,000,000 | 10,990,547 | |
11/15/2023 | 0.250% | 14,600,000 | 14,609,125 | |
12/15/2023 | 0.125% | 6,700,000 | 6,681,679 |
10 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
04/15/2024 | 0.375% | 10,750,000 | 10,771,836 | |
05/15/2024 | 0.250% | 10,800,000 | 10,780,594 | |
06/15/2024 | 0.250% | 11,000,000 | 10,975,078 | |
10/31/2025 | 0.250% | 15,000,000 | 14,786,719 | |
Total U.S. Treasury Obligations (Cost $95,238,441) | 95,186,664 |
Money Market Funds 8.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(d),(e) | 93,153,581 | 93,144,265 |
Total Money Market Funds (Cost $93,144,265) | 93,144,265 | |
Total Investments in Securities (Cost: $1,087,041,196) | 1,104,512,431 | |
Other Assets & Liabilities, Net | 5,944,697 | |
Net Assets | 1,110,457,128 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 2-Year Note | 863 | 09/2021 | USD | 190,426,344 | 8,219 | — |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | (558) | 09/2021 | USD | (75,024,844) | — | (1,555,161) |
U.S. Treasury 5-Year Note | (106) | 09/2021 | USD | (13,191,203) | — | (9,367) |
Total | — | (1,564,528) |
(a) | 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 July 31, 2021. |
(b) | Represents a security purchased on a when-issued basis. |
(c) | 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 July 31, 2021, the total value of these securities amounted to $229,642,672, which represents 20.68% of total net assets. |
(d) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 11 |
July 31, 2021
(e) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
50,394,374 | 743,181,023 | (700,431,132) | — | 93,144,265 | (8,980) | 66,954 | 93,153,581 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | 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 | ||||
Corporate Bonds & Notes | — | 916,181,502 | — | 916,181,502 |
U.S. Treasury Obligations | 95,186,664 | — | — | 95,186,664 |
Money Market Funds | 93,144,265 | — | — | 93,144,265 |
Total Investments in Securities | 188,330,929 | 916,181,502 | — | 1,104,512,431 |
Investments in Derivatives |
12 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Asset | ||||
Futures Contracts | 8,219 | — | — | 8,219 |
Liability | ||||
Futures Contracts | (1,564,528) | — | — | (1,564,528) |
Total | 186,774,620 | 916,181,502 | — | 1,102,956,122 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 13 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $993,896,931) | $1,011,368,166 |
Affiliated issuers (cost $93,144,265) | 93,144,265 |
Margin deposits on: | |
Futures contracts | 993,287 |
Receivable for: | |
Investments sold | 6,449,617 |
Capital shares sold | 2,037,688 |
Dividends | 4,230 |
Interest | 5,965,680 |
Foreign tax reclaims | 20,841 |
Variation margin for futures contracts | 52,498 |
Expense reimbursement due from Investment Manager | 1,168 |
Prepaid expenses | 15,799 |
Total assets | 1,120,053,239 |
Liabilities | |
Payable for: | |
Investments purchased on a delayed delivery basis | 7,105,670 |
Capital shares purchased | 1,183,921 |
Distributions to shareholders | 837,713 |
Variation margin for futures contracts | 199,917 |
Management services fees | 12,951 |
Distribution and/or service fees | 2,246 |
Transfer agent fees | 108,587 |
Compensation of board members | 103,573 |
Other expenses | 41,533 |
Total liabilities | 9,596,111 |
Net assets applicable to outstanding capital stock | $1,110,457,128 |
Represented by | |
Paid in capital | 1,087,919,337 |
Total distributable earnings (loss) | 22,537,791 |
Total - representing net assets applicable to outstanding capital stock | $1,110,457,128 |
14 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Class A | |
Net assets | $233,348,734 |
Shares outstanding | 22,365,219 |
Net asset value per share | $10.43 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.75 |
Advisor Class | |
Net assets | $81,406,349 |
Shares outstanding | 7,799,487 |
Net asset value per share | $10.44 |
Class C | |
Net assets | $23,715,061 |
Shares outstanding | 2,273,684 |
Net asset value per share | $10.43 |
Institutional Class | |
Net assets | $503,810,319 |
Shares outstanding | 48,252,282 |
Net asset value per share | $10.44 |
Institutional 2 Class | |
Net assets | $92,315,405 |
Shares outstanding | 8,841,051 |
Net asset value per share | $10.44 |
Institutional 3 Class | |
Net assets | $175,861,260 |
Shares outstanding | 16,842,440 |
Net asset value per share | $10.44 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 15 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — affiliated issuers | $66,954 |
Interest | 16,211,612 |
Total income | 16,278,566 |
Expenses: | |
Management services fees | 4,175,452 |
Distribution and/or service fees | |
Class A | 549,617 |
Class C | 262,076 |
Transfer agent fees | |
Class A | 229,359 |
Advisor Class | 77,011 |
Class C | 27,338 |
Institutional Class | 449,316 |
Institutional 2 Class | 42,329 |
Institutional 3 Class | 9,983 |
Compensation of board members | 53,627 |
Custodian fees | 8,481 |
Printing and postage fees | 79,120 |
Registration fees | 156,910 |
Audit fees | 29,500 |
Legal fees | 17,718 |
Compensation of chief compliance officer | 187 |
Other | 53,442 |
Total expenses | 6,221,466 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (459,478) |
Expense reduction | (20) |
Total net expenses | 5,761,968 |
Net investment income | 10,516,598 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 21,157,326 |
Investments — affiliated issuers | (8,980) |
Futures contracts | 3,624,034 |
Net realized gain | 24,772,380 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (18,047,732) |
Futures contracts | (855,364) |
Net change in unrealized appreciation (depreciation) | (18,903,096) |
Net realized and unrealized gain | 5,869,284 |
Net increase in net assets resulting from operations | $16,385,882 |
16 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $10,516,598 | $14,485,148 |
Net realized gain | 24,772,380 | 6,295,504 |
Net change in unrealized appreciation (depreciation) | (18,903,096) | 22,942,129 |
Net increase in net assets resulting from operations | 16,385,882 | 43,722,781 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (2,048,054) | (3,330,909) |
Advisor Class | (867,857) | (1,137,037) |
Class C | (51,748) | (251,431) |
Institutional Class | (5,050,063) | (4,097,988) |
Institutional 2 Class | (959,427) | (1,512,130) |
Institutional 3 Class | (1,912,292) | (4,252,733) |
Total distributions to shareholders | (10,889,441) | (14,582,228) |
Increase in net assets from capital stock activity | 287,344,516 | 133,417,558 |
Total increase in net assets | 292,840,957 | 162,558,111 |
Net assets at beginning of year | 817,616,171 | 655,058,060 |
Net assets at end of year | $1,110,457,128 | $817,616,171 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 17 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 9,049,107 | 94,155,546 | 4,338,422 | 43,734,856 |
Distributions reinvested | 188,112 | 1,956,566 | 323,864 | 3,261,798 |
Redemptions | (5,046,386) | (52,495,822) | (3,927,704) | (39,303,341) |
Net increase | 4,190,833 | 43,616,290 | 734,582 | 7,693,313 |
Advisor Class | ||||
Subscriptions | 4,491,631 | 46,722,878 | 2,158,948 | 21,751,272 |
Distributions reinvested | 83,394 | 867,834 | 112,834 | 1,136,868 |
Redemptions | (2,454,587) | (25,547,894) | (1,440,546) | (14,439,388) |
Net increase | 2,120,438 | 22,042,818 | 831,236 | 8,448,752 |
Class C | ||||
Subscriptions | 1,482,741 | 15,386,739 | 857,472 | 8,655,349 |
Distributions reinvested | 4,569 | 47,439 | 22,529 | 226,656 |
Redemptions | (1,423,654) | (14,833,287) | (957,532) | (9,652,560) |
Net increase (decrease) | 63,656 | 600,891 | (77,531) | (770,555) |
Institutional Class | ||||
Subscriptions | 36,955,310 | 384,523,818 | 23,090,261 | 233,255,153 |
Distributions reinvested | 437,958 | 4,559,990 | 386,852 | 3,909,158 |
Redemptions | (20,584,342) | (214,284,934) | (8,698,898) | (87,284,690) |
Net increase | 16,808,926 | 174,798,874 | 14,778,215 | 149,879,621 |
Institutional 2 Class | ||||
Subscriptions | 5,195,554 | 54,116,837 | 4,888,127 | 49,450,247 |
Distributions reinvested | 92,129 | 959,385 | 149,990 | 1,511,883 |
Redemptions | (2,354,160) | (24,528,555) | (5,820,084) | (58,333,268) |
Net increase (decrease) | 2,933,523 | 30,547,667 | (781,967) | (7,371,138) |
Institutional 3 Class | ||||
Subscriptions | 8,363,106 | 87,056,171 | 5,246,113 | 52,888,453 |
Distributions reinvested | 182,747 | 1,901,653 | 421,721 | 4,250,096 |
Redemptions | (7,024,279) | (73,219,848) | (8,100,645) | (81,600,984) |
Net increase (decrease) | 1,521,574 | 15,737,976 | (2,432,811) | (24,462,435) |
Total net increase | 27,638,950 | 287,344,516 | 13,051,724 | 133,417,558 |
18 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
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 7/31/2021 | $10.38 | 0.09 | 0.06 | 0.15 | (0.10) | (0.10) |
Year Ended 7/31/2020 | $9.97 | 0.19 | 0.41 | 0.60 | (0.19) | (0.19) |
Year Ended 7/31/2019 | $9.66 | 0.23 | 0.32 | 0.55 | (0.24) | (0.24) |
Year Ended 7/31/2018 | $9.88 | 0.17 | (0.22) | (0.05) | (0.17) | (0.17) |
Year Ended 7/31/2017 | $9.80 | 0.15 | 0.07 | 0.22 | (0.14) | (0.14) |
Advisor Class | ||||||
Year Ended 7/31/2021 | $10.38 | 0.12 | 0.06 | 0.18 | (0.12) | (0.12) |
Year Ended 7/31/2020 | $9.97 | 0.21 | 0.42 | 0.63 | (0.22) | (0.22) |
Year Ended 7/31/2019 | $9.66 | 0.25 | 0.32 | 0.57 | (0.26) | (0.26) |
Year Ended 7/31/2018 | $9.89 | 0.19 | (0.23) | (0.04) | (0.19) | (0.19) |
Year Ended 7/31/2017 | $9.80 | 0.17 | 0.09 | 0.26 | (0.17) | (0.17) |
Class C | ||||||
Year Ended 7/31/2021 | $10.38 | 0.02 | 0.05 | 0.07 | (0.02) | (0.02) |
Year Ended 7/31/2020 | $9.97 | 0.11 | 0.41 | 0.52 | (0.11) | (0.11) |
Year Ended 7/31/2019 | $9.66 | 0.15 | 0.32 | 0.47 | (0.16) | (0.16) |
Year Ended 7/31/2018 | $9.88 | 0.10 | (0.23) | (0.13) | (0.09) | (0.09) |
Year Ended 7/31/2017 | $9.80 | 0.07 | 0.08 | 0.15 | (0.07) | (0.07) |
Institutional Class | ||||||
Year Ended 7/31/2021 | $10.39 | 0.12 | 0.05 | 0.17 | (0.12) | (0.12) |
Year Ended 7/31/2020 | $9.98 | 0.21 | 0.42 | 0.63 | (0.22) | (0.22) |
Year Ended 7/31/2019 | $9.67 | 0.25 | 0.32 | 0.57 | (0.26) | (0.26) |
Year Ended 7/31/2018 | $9.89 | 0.19 | (0.22) | (0.03) | (0.19) | (0.19) |
Year Ended 7/31/2017 | $9.80 | 0.17 | 0.09 | 0.26 | (0.17) | (0.17) |
Institutional 2 Class | ||||||
Year Ended 7/31/2021 | $10.39 | 0.12 | 0.06 | 0.18 | (0.13) | (0.13) |
Year Ended 7/31/2020 | $9.98 | 0.22 | 0.41 | 0.63 | (0.22) | (0.22) |
Year Ended 7/31/2019 | $9.67 | 0.26 | 0.32 | 0.58 | (0.27) | (0.27) |
Year Ended 7/31/2018 | $9.89 | 0.20 | (0.22) | (0.02) | (0.20) | (0.20) |
Year Ended 7/31/2017 | $9.81 | 0.18 | 0.07 | 0.25 | (0.17) | (0.17) |
20 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
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 7/31/2021 | $10.43 | 1.43% | 0.82% | 0.77%(c) | 0.89% | 98% | $233,349 |
Year Ended 7/31/2020 | $10.38 | 6.09% | 0.83% | 0.79%(c) | 1.88% | 88% | $188,642 |
Year Ended 7/31/2019 | $9.97 | 5.75% | 0.84% | 0.80% | 2.34% | 99% | $173,843 |
Year Ended 7/31/2018 | $9.66 | (0.55%) | 0.84%(d) | 0.80%(c),(d) | 1.74% | 79% | $179,474 |
Year Ended 7/31/2017 | $9.88 | 2.28% | 0.83% | 0.81%(c) | 1.47% | 119% | $216,524 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $10.44 | 1.78% | 0.57% | 0.52%(c) | 1.14% | 98% | $81,406 |
Year Ended 7/31/2020 | $10.38 | 6.36% | 0.58% | 0.54%(c) | 2.12% | 88% | $58,965 |
Year Ended 7/31/2019 | $9.97 | 6.02% | 0.59% | 0.55% | 2.59% | 99% | $48,340 |
Year Ended 7/31/2018 | $9.66 | (0.40%) | 0.59%(d) | 0.55%(c),(d) | 1.99% | 79% | $49,745 |
Year Ended 7/31/2017 | $9.89 | 2.65% | 0.59% | 0.56%(c) | 1.74% | 119% | $57,357 |
Class C | |||||||
Year Ended 7/31/2021 | $10.43 | 0.68% | 1.57% | 1.52%(c) | 0.16% | 98% | $23,715 |
Year Ended 7/31/2020 | $10.38 | 5.30% | 1.58% | 1.54%(c) | 1.13% | 88% | $22,932 |
Year Ended 7/31/2019 | $9.97 | 4.96% | 1.59% | 1.55% | 1.59% | 99% | $22,797 |
Year Ended 7/31/2018 | $9.66 | (1.29%) | 1.59%(d) | 1.55%(c),(d) | 0.97% | 79% | $29,079 |
Year Ended 7/31/2017 | $9.88 | 1.53% | 1.58% | 1.56%(c) | 0.74% | 119% | $44,055 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $10.44 | 1.68% | 0.57% | 0.52%(c) | 1.13% | 98% | $503,810 |
Year Ended 7/31/2020 | $10.39 | 6.35% | 0.58% | 0.54%(c) | 2.07% | 88% | $326,594 |
Year Ended 7/31/2019 | $9.98 | 6.01% | 0.59% | 0.55% | 2.59% | 99% | $166,238 |
Year Ended 7/31/2018 | $9.67 | (0.30%) | 0.59%(d) | 0.55%(c),(d) | 1.98% | 79% | $163,477 |
Year Ended 7/31/2017 | $9.89 | 2.65% | 0.59% | 0.56%(c) | 1.78% | 119% | $199,635 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $10.44 | 1.73% | 0.52% | 0.48% | 1.18% | 98% | $92,315 |
Year Ended 7/31/2020 | $10.39 | 6.41% | 0.52% | 0.48% | 2.20% | 88% | $61,362 |
Year Ended 7/31/2019 | $9.98 | 6.08% | 0.53% | 0.49% | 2.65% | 99% | $66,741 |
Year Ended 7/31/2018 | $9.67 | (0.25%) | 0.53%(d) | 0.50%(d) | 2.06% | 79% | $74,279 |
Year Ended 7/31/2017 | $9.89 | 2.59% | 0.52% | 0.52% | 1.78% | 119% | $63,284 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 21 |
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 7/31/2021 | $10.39 | 0.13 | 0.05 | 0.18 | (0.13) | (0.13) |
Year Ended 7/31/2020 | $9.98 | 0.23 | 0.41 | 0.64 | (0.23) | (0.23) |
Year Ended 7/31/2019 | $9.67 | 0.26 | 0.32 | 0.58 | (0.27) | (0.27) |
Year Ended 7/31/2018 | $9.89 | 0.20 | (0.22) | (0.02) | (0.20) | (0.20) |
Year Ended 7/31/2017 | $9.80 | 0.19 | 0.08 | 0.27 | (0.18) | (0.18) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
22 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
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 7/31/2021 | $10.44 | 1.78% | 0.47% | 0.43% | 1.25% | 98% | $175,861 |
Year Ended 7/31/2020 | $10.39 | 6.47% | 0.47% | 0.43% | 2.24% | 88% | $159,121 |
Year Ended 7/31/2019 | $9.98 | 6.13% | 0.48% | 0.44% | 2.70% | 99% | $177,100 |
Year Ended 7/31/2018 | $9.67 | (0.20%) | 0.48%(d) | 0.45%(d) | 2.08% | 79% | $114,340 |
Year Ended 7/31/2017 | $9.89 | 2.75% | 0.48% | 0.47% | 1.90% | 119% | $122,034 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Columbia Limited Duration Credit Fund | Annual Report 2021 | 25 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 8,219* |
26 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 1,564,528* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | 3,624,034 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Interest rate risk | (855,364) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 193,202,371 |
Futures contracts — short | 120,241,743 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
1,661,264 | — | — |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 29 |
July 31, 2021
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.01 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.50 - 1.00(a) | 279,867 |
Class C | — | 1.00(b) | 6,399 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
30 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 0.77% | 0.79% |
Advisor Class | 0.52 | 0.54 |
Class C | 1.52 | 1.54 |
Institutional Class | 0.52 | 0.54 |
Institutional 2 Class | 0.48 | 0.48 |
Institutional 3 Class | 0.43 | 0.43 |
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
360,499 | (360,499) | — |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 31 |
July 31, 2021
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
10,889,441 | — | 10,889,441 | 14,582,228 | — | 14,582,228 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
6,158,798 | 1,941,188 | — | 15,377,970 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,087,578,152 | 15,747,527 | (369,557) | 15,377,970 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | — | — | 17,299,595 |
32 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Columbia Limited Duration Credit Fund | Annual Report 2021 | 33 |
July 31, 2021
34 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
July 31, 2021
Columbia Limited Duration Credit Fund | Annual Report 2021 | 35 |
36 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
Capital gain dividend | Section 163(j) Interest Dividends |
$2,038,247 | 99.53% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
38 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 39 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
40 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 41 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
42 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Limited Duration Credit Fund | Annual Report 2021 | 43 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
44 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Limited Duration Credit Fund | Annual Report 2021 | 45 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
46 | Columbia Limited Duration Credit Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Limited Duration Credit Fund | Annual Report 2021 | 47 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
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40 | |
41 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 04/24/03 | 35.98 | 16.13 | 14.53 |
Including sales charges | 28.13 | 14.77 | 13.86 | ||
Advisor Class* | 03/19/13 | 36.25 | 16.42 | 14.77 | |
Class C | Excluding sales charges | 04/24/03 | 34.98 | 15.25 | 13.67 |
Including sales charges | 33.98 | 15.25 | 13.67 | ||
Institutional Class | 09/27/10 | 36.26 | 16.41 | 14.82 | |
Institutional 2 Class | 12/11/06 | 36.28 | 16.45 | 14.90 | |
Institutional 3 Class* | 06/01/15 | 36.41 | 16.51 | 14.77 | |
Class R | 12/11/06 | 35.56 | 15.83 | 14.25 | |
S&P 500 Index | 36.45 | 17.35 | 15.35 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Disciplined Core Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 99.0 |
Money Market Funds | 1.0 |
Total | 100.0 |
Equity sector breakdown (%) (at July 31, 2021) | |
Communication Services | 12.1 |
Consumer Discretionary | 11.9 |
Consumer Staples | 5.8 |
Energy | 2.3 |
Financials | 10.5 |
Health Care | 13.1 |
Industrials | 8.6 |
Information Technology | 28.4 |
Materials | 2.3 |
Real Estate | 2.8 |
Utilities | 2.2 |
Total | 100.0 |
4 | Columbia Disciplined Core Fund | Annual Report 2021 |
• | The quality and catalyst themes of the stock selection model provided negative guidance during the period. Energy-equipment & services, consumer discretionary-auto & durables and information technology-hardware were the biggest detractors during the annual period. |
• | Relative to the benchmark, stock selection within the real estate, financials and information technology sector detracted most from performance. |
Columbia Disciplined Core Fund | Annual Report 2021 | 5 |
• | Kimberly-Clark Corp., a U.S.-based global health and hygiene-focused consumer staples company, experienced a share price decline based on its third-quarter 2020 earnings report that showed lower margins as well as forward guidance that missed consensus expectations. The portfolio’s overweight in Kimberly-Clark was established based on our quality and value themes, but the models delivered negative guidance. We sold the position. |
• | Verisign, Inc. is a global provider of domain name registry services and internet infrastructure which enables internet navigation for many of the world’s most recognized domain names. We believe, the company delivers consistent, subscription-based revenue. Toward the end of the reporting period, the company delivered earnings that were lower than elevated investor expectations. The company scores well in the catalyst theme and in line valuation score. |
• | Electronic Arts Inc., a U.S.-based gaming company, missed earnings guidance at year end due to adverse timing of product releases which contributed to the stock underperforming. With historically industry-competitive cash flow and shareholder value, the stock remains a strong-buy according to the quantitative model. In our view, the company has particularly attractive profitability, relative to its expenditures. |
• | The stock selection model performed well overall during the period, driven by the strong positive guidance provided by the value themes. Of our 22 industry-specific models, 13 outperformed the benchmark, with materials, financials -lending and energy-exploration & production the biggest contributors. |
• | Relative to the benchmark, selections within the communication services, consumer discretionary and utilities sector, helped most. |
• | Alphabet, Inc. is the parent company of search engine giant Google. The portfolio owns Alphabet Class A shares only. Early in the period, Alphabet reported solid earnings results with robust growth seen across several of its businesses, including YouTube, search, cloud and advertising. We believe, Alphabet (Class A) is increasingly seen by investors as a core large-cap holding given the strong digital advertising backdrop, ongoing strength from cloud, more share repurchases (with its newly authorized $50 billion program) and a reasonable valuation. The portfolio’s overweight in Alphabet (Class A) was based on attractive scores by all three of our themes (value, quality and catalyst) and the models provided positive guidance. |
• | Target Corp., a general merchandise discount retailer, reported strong earnings and saw broad-based share gains accelerating even as government stimulus benefit faded. Margins also showed improvement, driven largely by lower digital fulfillment costs as same-day fulfillment options. The company’s sales momentum benefited from competitor bankruptcies, department store closures, innovation across private label brands and a robust e-commerce business. |
• | Fortinet, Inc., the leading mid-market vendor in the network security firewall market, gained when the company’s management reported strong results across its product offerings and geographies. Further, its billings and revenues accelerated in each of the last four quarters. The portfolio’s overweight in Fortinet was driven by our quality and catalyst themes, and the models delivered effective stock selection guidance. |
6 | Columbia Disciplined Core Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | 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 | 1,206.80 | 1,020.14 | 5.28 | 4.84 | 0.96 |
Advisor Class | 1,000.00 | 1,000.00 | 1,208.20 | 1,021.39 | 3.91 | 3.58 | 0.71 |
Class C | 1,000.00 | 1,000.00 | 1,202.50 | 1,016.40 | 9.39 | 8.60 | 1.71 |
Institutional Class | 1,000.00 | 1,000.00 | 1,208.60 | 1,021.39 | 3.91 | 3.58 | 0.71 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,207.80 | 1,021.44 | 3.85 | 3.53 | 0.70 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,208.30 | 1,021.74 | 3.52 | 3.23 | 0.64 |
Class R | 1,000.00 | 1,000.00 | 1,205.60 | 1,018.90 | 6.65 | 6.09 | 1.21 |
Columbia Disciplined Core Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 98.9% | ||
Issuer | Shares | Value ($) |
Communication Services 12.0% | ||
Diversified Telecommunication Services 0.5% | ||
Verizon Communications, Inc. | 425,330 | 23,724,907 |
Interactive Media & Services 9.9% | ||
Alphabet, Inc., Class A(a) | 107,800 | 290,470,334 |
Facebook, Inc., Class A(a) | 539,400 | 192,188,220 |
Total | 482,658,554 | |
Media 1.6% | ||
Interpublic Group of Companies, Inc. (The) | 2,257,300 | 79,818,128 |
Total Communication Services | 586,201,589 | |
Consumer Discretionary 11.7% | ||
Automobiles 0.5% | ||
Tesla Motors, Inc.(a) | 38,700 | 26,594,640 |
Distributors 0.2% | ||
Genuine Parts Co. | 82,800 | 10,508,976 |
Hotels, Restaurants & Leisure 1.4% | ||
Darden Restaurants, Inc. | 419,600 | 61,211,248 |
Penn National Gaming, Inc.(a) | 130,900 | 8,950,942 |
Total | 70,162,190 | |
Household Durables 2.0% | ||
Lennar Corp., Class A | 336,000 | 35,330,400 |
PulteGroup, Inc. | 1,131,600 | 62,090,892 |
Total | 97,421,292 | |
Internet & Direct Marketing Retail 2.6% | ||
Amazon.com, Inc.(a) | 38,350 | 127,613,077 |
Multiline Retail 1.8% | ||
Target Corp. | 339,700 | 88,678,685 |
Specialty Retail 3.2% | ||
L Brands, Inc. | 423,100 | 33,877,617 |
Lowe’s Companies, Inc. | 374,000 | 72,066,060 |
Ross Stores, Inc. | 394,600 | 48,413,474 |
Total | 154,357,151 | |
Total Consumer Discretionary | 575,336,011 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Staples 5.8% | ||
Food & Staples Retailing 1.4% | ||
Kroger Co. (The) | 1,669,400 | 67,944,580 |
Food Products 0.7% | ||
Tyson Foods, Inc., Class A | 452,500 | 32,335,650 |
Household Products 1.1% | ||
Procter & Gamble Co. (The) | 372,100 | 52,923,783 |
Tobacco 2.6% | ||
Altria Group, Inc. | 1,797,500 | 86,351,900 |
Philip Morris International, Inc. | 437,000 | 43,739,330 |
Total | 130,091,230 | |
Total Consumer Staples | 283,295,243 | |
Energy 2.3% | ||
Oil, Gas & Consumable Fuels 2.3% | ||
EOG Resources, Inc. | 779,700 | 56,808,942 |
Kinder Morgan, Inc. | 3,271,800 | 56,863,884 |
Total | 113,672,826 | |
Total Energy | 113,672,826 | |
Financials 10.4% | ||
Banks 3.7% | ||
Citigroup, Inc. | 1,250,200 | 84,538,524 |
Citizens Financial Group, Inc. | 1,768,500 | 74,559,960 |
JPMorgan Chase & Co. | 134,900 | 20,475,122 |
Total | 179,573,606 | |
Capital Markets 4.2% | ||
BlackRock, Inc. | 35,800 | 31,044,686 |
Goldman Sachs Group, Inc. (The) | 106,200 | 39,812,256 |
Morgan Stanley | 533,100 | 51,166,938 |
S&P Global, Inc. | 17,600 | 7,545,472 |
T. Rowe Price Group, Inc. | 371,100 | 75,763,776 |
Total | 205,333,128 | |
Diversified Financial Services 0.2% | ||
Berkshire Hathaway, Inc., Class B(a) | 43,600 | 12,133,444 |
8 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Insurance 2.3% | ||
Allstate Corp. (The) | 475,900 | 61,890,795 |
Arthur J Gallagher & Co. | 194,400 | 27,081,864 |
MetLife, Inc. | 430,500 | 24,839,850 |
Total | 113,812,509 | |
Total Financials | 510,852,687 | |
Health Care 12.9% | ||
Biotechnology 1.8% | ||
AbbVie, Inc. | 274,443 | 31,917,721 |
Amgen, Inc. | 17,624 | 4,256,901 |
BioMarin Pharmaceutical, Inc.(a) | 152,900 | 11,732,017 |
Regeneron Pharmaceuticals, Inc.(a) | 27,600 | 15,859,236 |
Vertex Pharmaceuticals, Inc.(a) | 113,324 | 22,843,852 |
Total | 86,609,727 | |
Health Care Equipment & Supplies 1.5% | ||
Abbott Laboratories | 593,200 | 71,765,336 |
Dentsply Sirona, Inc. | 53,470 | 3,531,159 |
Total | 75,296,495 | |
Health Care Providers & Services 2.2% | ||
Anthem, Inc. | 18,100 | 6,950,581 |
HCA Healthcare, Inc. | 124,900 | 31,000,180 |
Humana, Inc. | 60,300 | 25,679,358 |
McKesson Corp. | 225,700 | 46,004,431 |
Total | 109,634,550 | |
Life Sciences Tools & Services 1.8% | ||
Agilent Technologies, Inc. | 47,300 | 7,247,779 |
IQVIA Holdings, Inc.(a) | 329,600 | 81,641,920 |
Total | 88,889,699 | |
Pharmaceuticals 5.6% | ||
Bristol-Myers Squibb Co. | 1,455,600 | 98,791,572 |
Johnson & Johnson | 352,700 | 60,734,940 |
Pfizer, Inc. | 2,681,100 | 114,777,891 |
Total | 274,304,403 | |
Total Health Care | 634,734,874 | |
Industrials 8.5% | ||
Air Freight & Logistics 1.3% | ||
United Parcel Service, Inc., Class B | 332,900 | 63,703,744 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Airlines 0.2% | ||
Delta Air Lines, Inc.(a) | 122,600 | 4,891,740 |
Southwest Airlines Co.(a) | 113,300 | 5,723,916 |
Total | 10,615,656 | |
Building Products 0.3% | ||
Johnson Controls International PLC | 165,800 | 11,841,436 |
Construction & Engineering 0.1% | ||
Quanta Services, Inc. | 64,400 | 5,853,960 |
Electrical Equipment 0.6% | ||
Emerson Electric Co. | 280,800 | 28,329,912 |
Machinery 4.9% | ||
Deere & Co. | 263,800 | 95,387,442 |
Parker-Hannifin Corp. | 268,100 | 83,655,243 |
Snap-On, Inc. | 286,600 | 62,473,068 |
Total | 241,515,753 | |
Professional Services 0.4% | ||
Robert Half International, Inc. | 190,200 | 18,679,542 |
Road & Rail 0.7% | ||
Norfolk Southern Corp. | 139,600 | 35,993,068 |
Total Industrials | 416,533,071 | |
Information Technology 28.1% | ||
Communications Equipment 2.1% | ||
Cisco Systems, Inc. | 1,868,000 | 103,431,160 |
IT Services 3.4% | ||
Accenture PLC, Class A | 334,400 | 106,232,192 |
MasterCard, Inc., Class A | 103,600 | 39,983,384 |
VeriSign, Inc.(a) | 96,840 | 20,953,271 |
Total | 167,168,847 | |
Semiconductors & Semiconductor Equipment 4.7% | ||
Advanced Micro Devices, Inc.(a) | 861,700 | 91,503,923 |
Broadcom, Inc. | 194,900 | 94,604,460 |
Intel Corp. | 875,600 | 47,037,232 |
Total | 233,145,615 |
Columbia Disciplined Core Fund | Annual Report 2021 | 9 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Software 11.6% | ||
Adobe, Inc.(a) | 163,100 | 101,387,853 |
Autodesk, Inc.(a) | 295,100 | 94,765,463 |
Fortinet, Inc.(a) | 348,900 | 94,984,536 |
Microsoft Corp.(b) | 970,700 | 276,562,137 |
Total | 567,699,989 | |
Technology Hardware, Storage & Peripherals 6.3% | ||
Apple, Inc. | 2,120,620 | 309,313,633 |
Total Information Technology | 1,380,759,244 | |
Materials 2.3% | ||
Chemicals 1.7% | ||
Dow, Inc. | 1,323,100 | 82,243,896 |
Containers & Packaging 0.5% | ||
International Paper Co. | 388,000 | 22,410,880 |
Metals & Mining 0.1% | ||
Nucor Corp. | 65,100 | 6,771,702 |
Total Materials | 111,426,478 | |
Real Estate 2.7% | ||
Equity Real Estate Investment Trusts (REITS) 2.7% | ||
Public Storage | 129,000 | 40,309,920 |
Simon Property Group, Inc. | 136,300 | 17,244,676 |
Weyerhaeuser Co. | 2,283,100 | 77,008,963 |
Total | 134,563,559 | |
Total Real Estate | 134,563,559 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Utilities 2.2% | ||
Electric Utilities 1.7% | ||
Evergy, Inc. | 401,000 | 26,153,220 |
NRG Energy, Inc. | 1,246,800 | 51,418,032 |
PPL Corp. | 233,300 | 6,618,721 |
Total | 84,189,973 | |
Independent Power and Renewable Electricity Producers 0.2% | ||
AES Corp. (The) | 429,300 | 10,174,410 |
Multi-Utilities 0.3% | ||
DTE Energy Co. | 115,300 | 13,526,996 |
Total Utilities | 107,891,379 | |
Total Common Stocks (Cost $3,185,684,575) | 4,855,266,961 | |
Money Market Funds 1.0% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(c),(d) | 47,035,926 | 47,031,222 |
Total Money Market Funds (Cost $47,025,861) | 47,031,222 | |
Total Investments in Securities (Cost: $3,232,710,436) | 4,902,298,183 | |
Other Assets & Liabilities, Net | 4,533,918 | |
Net Assets | 4,906,832,101 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 257 | 09/2021 | USD | 56,405,075 | 2,062,430 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
10 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
77,613,613 | 457,104,356 | (487,678,210) | (8,537) | 47,031,222 | 1,128 | 59,957 | 47,035,926 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | 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 | ||||
Common Stocks | ||||
Communication Services | 586,201,589 | — | — | 586,201,589 |
Consumer Discretionary | 575,336,011 | — | — | 575,336,011 |
Consumer Staples | 283,295,243 | — | — | 283,295,243 |
Energy | 113,672,826 | — | — | 113,672,826 |
Financials | 510,852,687 | — | — | 510,852,687 |
Columbia Disciplined Core Fund | Annual Report 2021 | 11 |
July 31, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Health Care | 634,734,874 | — | — | 634,734,874 |
Industrials | 416,533,071 | — | — | 416,533,071 |
Information Technology | 1,380,759,244 | — | — | 1,380,759,244 |
Materials | 111,426,478 | — | — | 111,426,478 |
Real Estate | 134,563,559 | — | — | 134,563,559 |
Utilities | 107,891,379 | — | — | 107,891,379 |
Total Common Stocks | 4,855,266,961 | — | — | 4,855,266,961 |
Money Market Funds | 47,031,222 | — | — | 47,031,222 |
Total Investments in Securities | 4,902,298,183 | — | — | 4,902,298,183 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 2,062,430 | — | — | 2,062,430 |
Total | 4,904,360,613 | — | — | 4,904,360,613 |
12 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $3,185,684,575) | $4,855,266,961 |
Affiliated issuers (cost $47,025,861) | 47,031,222 |
Cash | 1,486 |
Receivable for: | |
Capital shares sold | 310,898 |
Dividends | 7,364,023 |
Foreign tax reclaims | 73,568 |
Prepaid expenses | 43,058 |
Other assets | 22,506 |
Total assets | 4,910,113,722 |
Liabilities | |
Payable for: | |
Capital shares purchased | 2,138,030 |
Variation margin for futures contracts | 286,555 |
Management services fees | 84,175 |
Distribution and/or service fees | 31,291 |
Transfer agent fees | 263,090 |
Compensation of board members | 384,587 |
Other expenses | 93,893 |
Total liabilities | 3,281,621 |
Net assets applicable to outstanding capital stock | $4,906,832,101 |
Represented by | |
Paid in capital | 2,683,513,642 |
Total distributable earnings (loss) | 2,223,318,459 |
Total - representing net assets applicable to outstanding capital stock | $4,906,832,101 |
Columbia Disciplined Core Fund | Annual Report 2021 | 13 |
July 31, 2021
Class A | |
Net assets | $4,379,044,629 |
Shares outstanding | 280,036,059 |
Net asset value per share | $15.64 |
Maximum sales charge | 5.75% |
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) | $16.59 |
Advisor Class | |
Net assets | $18,382,389 |
Shares outstanding | 1,160,357 |
Net asset value per share | $15.84 |
Class C | |
Net assets | $39,464,461 |
Shares outstanding | 2,595,719 |
Net asset value per share | $15.20 |
Institutional Class | |
Net assets | $350,841,736 |
Shares outstanding | 22,258,384 |
Net asset value per share | $15.76 |
Institutional 2 Class | |
Net assets | $44,644,796 |
Shares outstanding | 2,844,824 |
Net asset value per share | $15.69 |
Institutional 3 Class | |
Net assets | $71,539,337 |
Shares outstanding | 4,532,847 |
Net asset value per share | $15.78 |
Class R | |
Net assets | $2,914,753 |
Shares outstanding | 186,811 |
Net asset value per share | $15.60 |
14 | Columbia Disciplined Core Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $83,453,519 |
Dividends — affiliated issuers | 59,957 |
Total income | 83,513,476 |
Expenses: | |
Management services fees | 28,285,302 |
Distribution and/or service fees | |
Class A | 9,705,990 |
Class C | 395,405 |
Class R | 14,762 |
Transfer agent fees | |
Class A | 2,846,405 |
Advisor Class | 11,523 |
Class C | 29,259 |
Institutional Class | 260,388 |
Institutional 2 Class | 21,037 |
Institutional 3 Class | 12,289 |
Class R | 2,172 |
Compensation of board members | 176,744 |
Custodian fees | 28,899 |
Printing and postage fees | 203,367 |
Registration fees | 137,475 |
Audit fees | 29,500 |
Legal fees | 49,446 |
Interest on collateral | 2,196 |
Compensation of chief compliance officer | 861 |
Other | 154,681 |
Total expenses | 42,367,701 |
Expense reduction | (1,560) |
Total net expenses | 42,366,141 |
Net investment income | 41,147,335 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 648,449,710 |
Investments — affiliated issuers | 1,128 |
Futures contracts | 26,174,491 |
Net realized gain | 674,625,329 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 678,859,713 |
Investments — affiliated issuers | (8,537) |
Futures contracts | (5,028,562) |
Net change in unrealized appreciation (depreciation) | 673,822,614 |
Net realized and unrealized gain | 1,348,447,943 |
Net increase in net assets resulting from operations | $1,389,595,278 |
Columbia Disciplined Core Fund | Annual Report 2021 | 15 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $41,147,335 | $51,937,786 |
Net realized gain | 674,625,329 | 141,702,956 |
Net change in unrealized appreciation (depreciation) | 673,822,614 | 169,526,165 |
Net increase in net assets resulting from operations | 1,389,595,278 | 363,166,907 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (181,143,953) | (343,831,634) |
Advisor Class | (740,984) | (1,513,839) |
Class C | (1,811,556) | (4,275,523) |
Institutional Class | (16,481,944) | (44,267,531) |
Institutional 2 Class | (1,761,434) | (3,107,512) |
Institutional 3 Class | (20,421,156) | (27,452,128) |
Class R | (132,151) | (331,732) |
Total distributions to shareholders | (222,493,178) | (424,779,899) |
Decrease in net assets from capital stock activity | (698,255,841) | (3,598,504) |
Total increase (decrease) in net assets | 468,846,259 | (65,211,496) |
Net assets at beginning of year | 4,437,985,842 | 4,503,197,338 |
Net assets at end of year | $4,906,832,101 | $4,437,985,842 |
16 | Columbia Disciplined Core Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 2,931,394 | 39,966,625 | 3,914,189 | 44,439,419 |
Distributions reinvested | 14,272,642 | 179,121,652 | 29,156,781 | 339,968,071 |
Redemptions | (29,194,825) | (392,617,035) | (34,817,063) | (400,916,592) |
Net decrease | (11,990,789) | (173,528,758) | (1,746,093) | (16,509,102) |
Advisor Class | ||||
Subscriptions | 235,113 | 3,202,474 | 293,378 | 3,483,580 |
Distributions reinvested | 58,197 | 738,521 | 128,091 | 1,508,912 |
Redemptions | (281,066) | (3,751,506) | (694,041) | (8,011,358) |
Net increase (decrease) | 12,244 | 189,489 | (272,572) | (3,018,866) |
Class C | ||||
Subscriptions | 300,919 | 4,060,091 | 323,130 | 3,605,330 |
Distributions reinvested | 144,020 | 1,765,688 | 349,418 | 3,986,860 |
Redemptions | (1,331,497) | (17,515,905) | (1,424,662) | (16,072,009) |
Net decrease | (886,558) | (11,690,126) | (752,114) | (8,479,819) |
Institutional Class | ||||
Subscriptions | 7,026,395 | 94,162,290 | 7,273,306 | 85,043,439 |
Distributions reinvested | 1,268,249 | 16,017,991 | 3,709,960 | 43,480,730 |
Redemptions | (21,998,005) | (289,392,737) | (15,030,501) | (174,627,076) |
Net decrease | (13,703,361) | (179,212,456) | (4,047,235) | (46,102,907) |
Institutional 2 Class | ||||
Subscriptions | 643,854 | 8,775,444 | 807,881 | 9,260,426 |
Distributions reinvested | 137,799 | 1,732,131 | 261,605 | 3,052,929 |
Redemptions | (528,824) | (7,034,399) | (2,823,165) | (33,455,331) |
Net increase (decrease) | 252,829 | 3,473,176 | (1,753,679) | (21,141,976) |
Institutional 3 Class | ||||
Subscriptions | 1,694,480 | 21,610,331 | 10,547,601 | 116,692,096 |
Distributions reinvested | 1,612,081 | 20,376,702 | 2,336,424 | 27,406,250 |
Redemptions | (29,978,302) | (378,796,858) | (4,406,228) | (50,999,061) |
Net increase (decrease) | (26,671,741) | (336,809,825) | 8,477,797 | 93,099,285 |
Class R | ||||
Subscriptions | 33,034 | 443,669 | 67,578 | 790,000 |
Distributions reinvested | 9,861 | 123,657 | 18,556 | 216,181 |
Redemptions | (88,444) | (1,244,667) | (212,989) | (2,451,300) |
Net decrease | (45,549) | (677,341) | (126,855) | (1,445,119) |
Total net decrease | (53,032,925) | (698,255,841) | (220,751) | (3,598,504) |
Columbia Disciplined Core Fund | Annual Report 2021 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $12.09 | 0.12 | 4.07 | 4.19 | (0.13) | (0.51) | (0.64) |
Year Ended 7/31/2020 | $12.26 | 0.14 | 0.90 | 1.04 | (0.15) | (1.06) | (1.21) |
Year Ended 7/31/2019 | $12.76 | 0.14 | 0.27 | 0.41 | (0.11) | (0.80) | (0.91) |
Year Ended 7/31/2018 | $11.43 | 0.11 | 1.95 | 2.06 | (0.18) | (0.55) | (0.73) |
Year Ended 7/31/2017 | $10.00 | 0.18 | 1.38 | 1.56 | (0.13) | — | (0.13) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $12.24 | 0.16 | 4.11 | 4.27 | (0.16) | (0.51) | (0.67) |
Year Ended 7/31/2020 | $12.40 | 0.17 | 0.91 | 1.08 | (0.18) | (1.06) | (1.24) |
Year Ended 7/31/2019 | $12.89 | 0.17 | 0.28 | 0.45 | (0.14) | (0.80) | (0.94) |
Year Ended 7/31/2018 | $11.54 | 0.14 | 1.97 | 2.11 | (0.21) | (0.55) | (0.76) |
Year Ended 7/31/2017 | $10.09 | 0.21 | 1.39 | 1.60 | (0.15) | — | (0.15) |
Class C | |||||||
Year Ended 7/31/2021 | $11.77 | 0.02 | 3.96 | 3.98 | (0.04) | (0.51) | (0.55) |
Year Ended 7/31/2020 | $11.97 | 0.05 | 0.87 | 0.92 | (0.06) | (1.06) | (1.12) |
Year Ended 7/31/2019 | $12.47 | 0.05 | 0.27 | 0.32 | (0.02) | (0.80) | (0.82) |
Year Ended 7/31/2018 | $11.20 | 0.02 | 1.90 | 1.92 | (0.10) | (0.55) | (0.65) |
Year Ended 7/31/2017 | $9.80 | 0.09 | 1.37 | 1.46 | (0.06) | — | (0.06) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $12.18 | 0.15 | 4.10 | 4.25 | (0.16) | (0.51) | (0.67) |
Year Ended 7/31/2020 | $12.34 | 0.17 | 0.91 | 1.08 | (0.18) | (1.06) | (1.24) |
Year Ended 7/31/2019 | $12.84 | 0.17 | 0.27 | 0.44 | (0.14) | (0.80) | (0.94) |
Year Ended 7/31/2018 | $11.50 | 0.14 | 1.96 | 2.10 | (0.21) | (0.55) | (0.76) |
Year Ended 7/31/2017 | $10.06 | 0.23 | 1.37 | 1.60 | (0.16) | — | (0.16) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $12.13 | 0.16 | 4.07 | 4.23 | (0.16) | (0.51) | (0.67) |
Year Ended 7/31/2020 | $12.30 | 0.17 | 0.91 | 1.08 | (0.19) | (1.06) | (1.25) |
Year Ended 7/31/2019 | $12.80 | 0.17 | 0.28 | 0.45 | (0.15) | (0.80) | (0.95) |
Year Ended 7/31/2018 | $11.47 | 0.15 | 1.95 | 2.10 | (0.22) | (0.55) | (0.77) |
Year Ended 7/31/2017 | $10.03 | 0.22 | 1.38 | 1.60 | (0.16) | — | (0.16) |
18 | Columbia Disciplined Core Fund | Annual Report 2021 |
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 7/31/2021 | $15.64 | 35.98% | 0.97%(c) | 0.97%(c),(d) | 0.88% | 69% | $4,379,045 |
Year Ended 7/31/2020 | $12.09 | 8.86% | 0.98% | 0.98%(d) | 1.18% | 65% | $3,530,283 |
Year Ended 7/31/2019 | $12.26 | 4.01% | 0.98% | 0.98% | 1.16% | 75% | $3,602,298 |
Year Ended 7/31/2018 | $12.76 | 18.55% | 0.98% | 0.98%(d) | 0.90% | 71% | $3,749,864 |
Year Ended 7/31/2017 | $11.43 | 15.74% | 1.03% | 1.03%(d) | 1.66% | 72% | $3,481,990 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $15.84 | 36.25% | 0.72%(c) | 0.72%(c),(d) | 1.13% | 69% | $18,382 |
Year Ended 7/31/2020 | $12.24 | 9.11% | 0.73% | 0.73%(d) | 1.44% | 65% | $14,050 |
Year Ended 7/31/2019 | $12.40 | 4.33% | 0.74% | 0.74% | 1.38% | 75% | $17,613 |
Year Ended 7/31/2018 | $12.89 | 18.83% | 0.73% | 0.73%(d) | 1.15% | 71% | $9,665 |
Year Ended 7/31/2017 | $11.54 | 16.05% | 0.77% | 0.77%(d) | 1.98% | 72% | $6,566 |
Class C | |||||||
Year Ended 7/31/2021 | $15.20 | 34.98% | 1.72%(c) | 1.72%(c),(d) | 0.13% | 69% | $39,464 |
Year Ended 7/31/2020 | $11.77 | 8.00% | 1.73% | 1.73%(d) | 0.43% | 65% | $41,003 |
Year Ended 7/31/2019 | $11.97 | 3.23% | 1.73% | 1.73% | 0.42% | 75% | $50,697 |
Year Ended 7/31/2018 | $12.47 | 17.56% | 1.73% | 1.73%(d) | 0.17% | 71% | $47,968 |
Year Ended 7/31/2017 | $11.20 | 14.94% | 1.77% | 1.77%(d) | 0.91% | 72% | $56,943 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $15.76 | 36.26% | 0.72%(c) | 0.72%(c),(d) | 1.14% | 69% | $350,842 |
Year Ended 7/31/2020 | $12.18 | 9.16% | 0.73% | 0.73%(d) | 1.43% | 65% | $437,928 |
Year Ended 7/31/2019 | $12.34 | 4.26% | 0.74% | 0.74% | 1.42% | 75% | $493,840 |
Year Ended 7/31/2018 | $12.84 | 18.80% | 0.73% | 0.73%(d) | 1.15% | 71% | $217,861 |
Year Ended 7/31/2017 | $11.50 | 16.01% | 0.77% | 0.77%(d) | 2.12% | 72% | $157,993 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $15.69 | 36.28% | 0.70%(c) | 0.70%(c) | 1.15% | 69% | $44,645 |
Year Ended 7/31/2020 | $12.13 | 9.15% | 0.70% | 0.70% | 1.50% | 65% | $31,437 |
Year Ended 7/31/2019 | $12.30 | 4.31% | 0.70% | 0.70% | 1.44% | 75% | $53,464 |
Year Ended 7/31/2018 | $12.80 | 18.82% | 0.70% | 0.70% | 1.22% | 71% | $52,336 |
Year Ended 7/31/2017 | $11.47 | 16.14% | 0.71% | 0.71% | 2.05% | 72% | $110,542 |
Columbia Disciplined Core Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $12.19 | 0.16 | 4.11 | 4.27 | (0.17) | (0.51) | (0.68) |
Year Ended 7/31/2020 | $12.36 | 0.17 | 0.91 | 1.08 | (0.19) | (1.06) | (1.25) |
Year Ended 7/31/2019 | $12.85 | 0.18 | 0.28 | 0.46 | (0.15) | (0.80) | (0.95) |
Year Ended 7/31/2018 | $11.51 | 0.15 | 1.96 | 2.11 | (0.22) | (0.55) | (0.77) |
Year Ended 7/31/2017 | $10.07 | 0.27 | 1.34 | 1.61 | (0.17) | — | (0.17) |
Class R | |||||||
Year Ended 7/31/2021 | $12.07 | 0.08 | 4.06 | 4.14 | (0.10) | (0.51) | (0.61) |
Year Ended 7/31/2020 | $12.24 | 0.11 | 0.90 | 1.01 | (0.12) | (1.06) | (1.18) |
Year Ended 7/31/2019 | $12.74 | 0.11 | 0.27 | 0.38 | (0.08) | (0.80) | (0.88) |
Year Ended 7/31/2018 | $11.42 | 0.08 | 1.94 | 2.02 | (0.15) | (0.55) | (0.70) |
Year Ended 7/31/2017 | $9.99 | 0.15 | 1.39 | 1.54 | (0.11) | — | (0.11) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
20 | Columbia Disciplined Core Fund | Annual Report 2021 |
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 7/31/2021 | $15.78 | 36.41% | 0.64%(c) | 0.64%(c) | 1.20% | 69% | $71,539 |
Year Ended 7/31/2020 | $12.19 | 9.15% | 0.65% | 0.65% | 1.50% | 65% | $380,482 |
Year Ended 7/31/2019 | $12.36 | 4.43% | 0.65% | 0.65% | 1.50% | 75% | $280,889 |
Year Ended 7/31/2018 | $12.85 | 18.89% | 0.65% | 0.65% | 1.23% | 71% | $306,602 |
Year Ended 7/31/2017 | $11.51 | 16.12% | 0.66% | 0.66% | 2.46% | 72% | $303,699 |
Class R | |||||||
Year Ended 7/31/2021 | $15.60 | 35.56% | 1.22%(c) | 1.22%(c),(d) | 0.63% | 69% | $2,915 |
Year Ended 7/31/2020 | $12.07 | 8.62% | 1.23% | 1.23%(d) | 0.94% | 65% | $2,804 |
Year Ended 7/31/2019 | $12.24 | 3.73% | 1.23% | 1.23% | 0.92% | 75% | $4,398 |
Year Ended 7/31/2018 | $12.74 | 18.21% | 1.23% | 1.23%(d) | 0.65% | 71% | $4,693 |
Year Ended 7/31/2017 | $11.42 | 15.49% | 1.27% | 1.27%(d) | 1.43% | 72% | $4,929 |
Columbia Disciplined Core Fund | Annual Report 2021 | 21 |
July 31, 2021
22 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Core Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 2,062,430* |
* | 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 ($) |
Equity risk | 26,174,491 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (5,028,562) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 58,709,428 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Disciplined Core Fund | Annual Report 2021 | 25 |
July 31, 2021
26 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
— | 166,128,711 | 26,702,119 |
Columbia Disciplined Core Fund | Annual Report 2021 | 27 |
July 31, 2021
Effective rate (%) | |
Class A | 0.07 |
Advisor Class | 0.07 |
Class C | 0.07 |
Institutional Class | 0.07 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.07 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 637,466 |
Class C | — | 1.00(b) | 1,287 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
28 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.02% | 1.10% |
Advisor Class | 0.77 | 0.85 |
Class C | 1.77 | 1.85 |
Institutional Class | 0.77 | 0.85 |
Institutional 2 Class | 0.75 | 0.82 |
Institutional 3 Class | 0.70 | 0.77 |
Class R | 1.27 | 1.35 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(206,492) | 206,492 | — |
Columbia Disciplined Core Fund | Annual Report 2021 | 29 |
July 31, 2021
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
81,056,362 | 141,436,816 | 222,493,178 | 55,214,089 | 369,565,810 | 424,779,899 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
234,572,736 | 327,599,732 | — | 1,661,529,207 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
3,242,831,406 | 1,674,966,996 | (13,437,789) | 1,661,529,207 |
30 | Columbia Disciplined Core Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Core Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Disciplined Core Fund | Annual Report 2021 |
Columbia Disciplined Core Fund | Annual Report 2021 | 33 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
53.25% | 52.43% | $433,363,932 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
34 | Columbia Disciplined Core Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Disciplined Core Fund | Annual Report 2021 | 35 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
36 | Columbia Disciplined Core Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Disciplined Core Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
38 | Columbia Disciplined Core Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Disciplined Core Fund | Annual Report 2021 | 39 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
40 | Columbia Disciplined Core Fund | Annual Report 2021 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Disciplined Core Fund | Annual Report 2021 | 41 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
42 | Columbia Disciplined Core Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Disciplined Core Fund | Annual Report 2021 | 43 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
44 | Columbia Disciplined Core Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
19 | |
21 | |
22 | |
24 | |
28 | |
38 | |
39 | |
39 | |
45 | |
46 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 06/19/03 | 7.85 | 5.15 | 5.38 |
Including sales charges | 2.75 | 4.14 | 4.87 | ||
Advisor Class* | 11/08/12 | 8.11 | 5.41 | 5.61 | |
Class C | Excluding sales charges | 06/19/03 | 7.04 | 4.37 | 4.63 |
Including sales charges | 6.04 | 4.37 | 4.63 | ||
Institutional Class | 09/27/10 | 8.11 | 5.42 | 5.64 | |
Institutional 2 Class* | 11/08/12 | 8.24 | 5.53 | 5.71 | |
Institutional 3 Class | 03/07/11 | 8.19 | 5.56 | 5.80 | |
Class R | 09/27/10 | 7.59 | 4.89 | 5.12 | |
ICE BofA BB-B US Cash Pay High Yield Constrained Index | 8.66 | 6.57 | 6.33 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Income Opportunities Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 0.0(a) |
Convertible Bonds | 0.2 |
Corporate Bonds & Notes | 91.8 |
Foreign Government Obligations | 0.4 |
Money Market Funds | 4.4 |
Senior Loans | 3.2 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at July 31, 2021) | |
BBB rating | 0.6 |
BB rating | 50.1 |
B rating | 44.3 |
CCC rating | 5.0 |
Total | 100.0 |
4 | Columbia Income Opportunities Fund | Annual Report 2021 |
• | Detractors from the Fund’s relative performance included an overweight allocation to utilities and cable, which experienced positive absolute returns but lagged behind the overall credit market rally. |
• | While partially offset by an overweight allocation to the segment, the Fund’s more defensive selection within air transportation, reflected in a preference for higher quality, better secured bonds, also detracted. |
• | Positive contributions to the Fund’s performance relative to the benchmark over the period were driven largely by security selection. |
• | Most notably, selection within the energy exploration & production sector added to return, with contributions driven by overweight allocations to select issuers that benefited from the improving commodity price environment. |
○ | Some of these positions had exited the BB/B benchmark due to downgrades in 2020 as the COVID-19 pandemic weighed on energy demand but continued to be held in the Fund. |
• | Security selection was modestly positive across a handful of other segments including gas distribution within midstream energy, technology hardware & equipment, gaming and consumer/commercial/lease financing. |
• | The Fund averaged an approximately 4% allocation to out-of-benchmark CCC-rated issuers over the year, which contributed positively given the notable outperformance of the rating category as compared to the BB/B portion of the market. |
○ | Holdings in the CCC ratings category were predominately composed of issuers downgraded in 2020. As a reminder, the Fund is not a forced seller in the event of such downgrades and will continue to hold what we believe to be high conviction names. |
Columbia Income Opportunities Fund | Annual Report 2021 | 5 |
6 | Columbia Income Opportunities Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,031.50 | 1,019.95 | 5.06 | 5.04 | 1.00 |
Advisor Class | 1,000.00 | 1,000.00 | 1,031.80 | 1,021.19 | 3.80 | 3.78 | 0.75 |
Class C | 1,000.00 | 1,000.00 | 1,027.70 | 1,016.21 | 8.85 | 8.80 | 1.75 |
Institutional Class | 1,000.00 | 1,000.00 | 1,032.80 | 1,021.19 | 3.80 | 3.78 | 0.75 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,033.50 | 1,021.89 | 3.09 | 3.07 | 0.61 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,032.80 | 1,022.14 | 2.84 | 2.82 | 0.56 |
Class R | 1,000.00 | 1,000.00 | 1,030.30 | 1,018.70 | 6.33 | 6.29 | 1.25 |
Columbia Income Opportunities Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Communication Services 0.0% | ||
Media 0.0% | ||
Haights Cross Communications, Inc.(a),(b),(c) | 275,078 | 0 |
Loral Space & Communications, Inc. | 101 | 3,575 |
Ziff Davis Holdings, Inc.(a),(b),(c) | 6,107 | 61 |
Total | 3,636 | |
Total Communication Services | 3,636 | |
Consumer Discretionary 0.0% | ||
Auto Components 0.0% | ||
Lear Corp. | 831 | 145,408 |
Total Consumer Discretionary | 145,408 | |
Industrials 0.0% | ||
Commercial Services & Supplies 0.0% | ||
Quad/Graphics, Inc.(b) | 1,298 | 4,543 |
Total Industrials | 4,543 | |
Utilities —% | ||
Independent Power and Renewable Electricity Producers —% | ||
Calpine Corp. Escrow(a),(b),(c) | 23,187,000 | 0 |
Total Utilities | 0 | |
Total Common Stocks (Cost $3,191,147) | 153,587 |
Convertible Bonds 0.2% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 0.2% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 2,186,000 | 2,240,650 | |
Total Convertible Bonds (Cost $2,060,975) | 2,240,650 | |||
Corporate Bonds & Notes 92.1% | ||||
Aerospace & Defense 1.3% | ||||
TransDigm, Inc.(d) | ||||
12/15/2025 | 8.000% | 851,000 | 915,107 | |
03/15/2026 | 6.250% | 3,840,000 | 4,031,585 | |
01/15/2029 | 4.625% | 1,565,000 | 1,563,870 | |
05/01/2029 | 4.875% | 2,626,000 | 2,640,552 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
TransDigm, Inc. | ||||
11/15/2027 | 5.500% | 3,134,000 | 3,236,059 | |
Total | 12,387,173 | |||
Airlines 2.1% | ||||
Air Canada(d),(e) | ||||
08/15/2026 | 3.875% | 1,793,000 | 1,797,871 | |
American Airlines, Inc.(d) | ||||
07/15/2025 | 11.750% | 1,447,000 | 1,808,750 | |
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(d) | ||||
04/20/2026 | 5.500% | 4,863,000 | 5,087,996 | |
Delta Air Lines, Inc.(d) | ||||
05/01/2025 | 7.000% | 1,605,000 | 1,888,301 | |
Delta Air Lines, Inc. | ||||
01/15/2026 | 7.375% | 698,000 | 821,840 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(d) | ||||
01/20/2026 | 5.750% | 2,314,511 | 2,425,680 | |
Mileage Plus Holdings LLC/Intellectual Property Assets Ltd.(d) | ||||
06/20/2027 | 6.500% | 3,786,538 | 4,121,645 | |
United Airlines, Inc.(d) | ||||
04/15/2026 | 4.375% | 1,293,000 | 1,330,178 | |
04/15/2029 | 4.625% | 899,000 | 925,063 | |
Total | 20,207,324 | |||
Automotive 4.9% | ||||
American Axle & Manufacturing, Inc. | ||||
03/15/2026 | 6.250% | 2,429,000 | 2,503,354 | |
Clarios Global LP(d) | ||||
05/15/2025 | 6.750% | 1,239,000 | 1,315,844 | |
Ford Motor Co. | ||||
04/21/2023 | 8.500% | 1,206,000 | 1,339,623 | |
04/22/2025 | 9.000% | 2,667,000 | 3,282,049 | |
04/22/2030 | 9.625% | 362,000 | 521,660 | |
01/15/2043 | 4.750% | 2,224,000 | 2,441,772 | |
Ford Motor Credit Co. LLC | ||||
03/18/2024 | 5.584% | 3,413,000 | 3,719,045 | |
11/01/2024 | 4.063% | 1,439,000 | 1,526,374 | |
06/16/2025 | 5.125% | 2,268,000 | 2,498,738 | |
11/13/2025 | 3.375% | 123,000 | 128,498 | |
01/08/2026 | 4.389% | 1,730,000 | 1,874,732 | |
08/17/2027 | 4.125% | 3,098,000 | 3,319,251 | |
11/13/2030 | 4.000% | 1,780,000 | 1,882,598 | |
Goodyear Tire & Rubber Co. (The)(d) | ||||
07/15/2029 | 5.000% | 1,688,000 | 1,779,037 | |
IAA Spinco, Inc.(d) | ||||
06/15/2027 | 5.500% | 3,571,000 | 3,753,728 |
8 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
IHO Verwaltungs GmbH(d),(f) | ||||
09/15/2026 | 4.750% | 1,551,000 | 1,592,354 | |
Jaguar Land Rover Automotive PLC(d) | ||||
07/15/2029 | 5.500% | 1,361,000 | 1,360,594 | |
KAR Auction Services, Inc.(d) | ||||
06/01/2025 | 5.125% | 6,511,000 | 6,660,391 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(d) | ||||
05/15/2027 | 8.500% | 1,881,000 | 2,030,575 | |
Tenneco, Inc.(d) | ||||
01/15/2029 | 7.875% | 2,595,000 | 2,932,857 | |
Total | 46,463,074 | |||
Brokerage/Asset Managers/Exchanges 0.3% | ||||
AG Issuer LLC(d) | ||||
03/01/2028 | 6.250% | 865,000 | 907,806 | |
NFP Corp.(d) | ||||
08/15/2028 | 4.875% | 1,748,000 | 1,782,348 | |
Total | 2,690,154 | |||
Building Materials 1.0% | ||||
Beacon Roofing Supply, Inc.(d) | ||||
11/15/2026 | 4.500% | 3,525,000 | 3,674,745 | |
Core & Main LP(d) | ||||
08/15/2025 | 6.125% | 729,000 | 741,072 | |
Masonite International Corp.(d) | ||||
02/15/2030 | 3.500% | 2,734,000 | 2,754,556 | |
SRS Distribution, Inc.(d) | ||||
07/01/2028 | 4.625% | 2,009,000 | 2,049,830 | |
Total | 9,220,203 | |||
Cable and Satellite 5.6% | ||||
CCO Holdings LLC/Capital Corp.(d) | ||||
06/01/2029 | 5.375% | 3,355,000 | 3,664,310 | |
03/01/2030 | 4.750% | 5,761,000 | 6,110,560 | |
CSC Holdings LLC(d) | ||||
02/01/2028 | 5.375% | 2,194,000 | 2,321,335 | |
02/01/2029 | 6.500% | 5,005,000 | 5,533,046 | |
01/15/2030 | 5.750% | 1,247,000 | 1,301,058 | |
02/15/2031 | 3.375% | 3,931,000 | 3,734,349 | |
DISH DBS Corp. | ||||
07/01/2026 | 7.750% | 1,559,000 | 1,780,584 | |
DISH DBS Corp.(d) | ||||
06/01/2029 | 5.125% | 9,555,000 | 9,471,985 | |
Radiate Holdco LLC/Finance, Inc.(d) | ||||
09/15/2026 | 4.500% | 2,593,000 | 2,681,615 | |
Sirius XM Radio, Inc.(d) | ||||
07/15/2026 | 5.375% | 1,155,000 | 1,192,586 | |
07/01/2030 | 4.125% | 3,996,000 | 4,124,681 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Videotron Ltd.(d) | ||||
06/15/2029 | 3.625% | 1,124,000 | 1,155,511 | |
Virgin Media Finance PLC(d) | ||||
07/15/2030 | 5.000% | 3,884,000 | 3,951,577 | |
Ziggo BV(d) | ||||
01/15/2027 | 5.500% | 3,087,000 | 3,203,183 | |
01/15/2030 | 4.875% | 2,941,000 | 3,029,492 | |
Total | 53,255,872 | |||
Chemicals 2.5% | ||||
Axalta Coating Systems LLC(d) | ||||
02/15/2029 | 3.375% | 1,877,000 | 1,846,631 | |
Axalta Coating Systems LLC/Dutch Holding B BV(d) | ||||
06/15/2027 | 4.750% | 1,738,000 | 1,833,178 | |
Element Solutions, Inc.(d) | ||||
09/01/2028 | 3.875% | 2,766,000 | 2,825,037 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 1,449,000 | 1,482,075 | |
Herens Holdco Sarl(d) | ||||
05/15/2028 | 4.750% | 1,749,000 | 1,736,336 | |
Illuminate Buyer LLC/Holdings IV, Inc.(d) | ||||
07/01/2028 | 9.000% | 1,591,000 | 1,770,649 | |
INEOS Quattro Finance 2 Plc(d) | ||||
01/15/2026 | 3.375% | 679,000 | 683,187 | |
Ingevity Corp.(d) | ||||
11/01/2028 | 3.875% | 1,868,000 | 1,868,210 | |
Innophos Holdings, Inc.(d) | ||||
02/15/2028 | 9.375% | 1,674,000 | 1,807,318 | |
PQ Corp.(d) | ||||
12/15/2025 | 5.750% | 3,530,000 | 3,631,487 | |
SPCM SA(d) | ||||
09/15/2025 | 4.875% | 2,650,000 | 2,712,725 | |
WR Grace & Co.(d) | ||||
06/15/2027 | 4.875% | 1,750,000 | 1,848,715 | |
Total | 24,045,548 | |||
Construction Machinery 1.4% | ||||
H&E Equipment Services, Inc.(d) | ||||
12/15/2028 | 3.875% | 5,058,000 | 5,019,565 | |
Herc Holdings, Inc.(d) | ||||
07/15/2027 | 5.500% | 1,737,000 | 1,822,217 | |
NESCO Holdings II, Inc.(d) | ||||
04/15/2029 | 5.500% | 1,588,000 | 1,641,567 | |
Ritchie Bros. Auctioneers, Inc.(d) | ||||
01/15/2025 | 5.375% | 3,510,000 | 3,608,601 |
Columbia Income Opportunities Fund | Annual Report 2021 | 9 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Rentals North America, Inc.(e) | ||||
01/15/2032 | 3.750% | 854,000 | 854,000 | |
Total | 12,945,950 | |||
Consumer Cyclical Services 1.0% | ||||
ASGN, Inc.(d) | ||||
05/15/2028 | 4.625% | 2,201,000 | 2,289,517 | |
Staples, Inc.(d) | ||||
04/15/2026 | 7.500% | 1,792,000 | 1,819,510 | |
Uber Technologies, Inc.(d) | ||||
05/15/2025 | 7.500% | 3,560,000 | 3,817,833 | |
01/15/2028 | 6.250% | 1,246,000 | 1,344,044 | |
Total | 9,270,904 | |||
Consumer Products 0.9% | ||||
CD&R Smokey Buyer, Inc.(d) | ||||
07/15/2025 | 6.750% | 2,387,000 | 2,542,713 | |
Mattel, Inc. | ||||
11/01/2041 | 5.450% | 510,000 | 600,879 | |
Prestige Brands, Inc.(d) | ||||
01/15/2028 | 5.125% | 3,353,000 | 3,545,871 | |
Spectrum Brands, Inc. | ||||
07/15/2025 | 5.750% | 1,818,000 | 1,866,885 | |
Total | 8,556,348 | |||
Diversified Manufacturing 1.1% | ||||
Madison IAQ LLC(d) | ||||
06/30/2028 | 4.125% | 1,468,000 | 1,470,237 | |
Resideo Funding, Inc.(d) | ||||
11/01/2026 | 6.125% | 3,631,000 | 3,817,090 | |
Vertical US Newco, Inc.(d) | ||||
07/15/2027 | 5.250% | 1,249,000 | 1,319,428 | |
WESCO Distribution, Inc.(d) | ||||
06/15/2025 | 7.125% | 3,603,000 | 3,881,902 | |
Total | 10,488,657 | |||
Electric 5.6% | ||||
Atlantica Sustainable Infrastructure PLC(d) | ||||
06/15/2028 | 4.125% | 1,320,000 | 1,371,325 | |
Calpine Corp.(d) | ||||
06/01/2026 | 5.250% | 2,323,000 | 2,391,966 | |
Clearway Energy Operating LLC | ||||
09/15/2026 | 5.000% | 4,078,000 | 4,191,800 | |
Clearway Energy Operating LLC(d) | ||||
03/15/2028 | 4.750% | 1,767,000 | 1,872,533 | |
02/15/2031 | 3.750% | 6,550,000 | 6,579,604 | |
FirstEnergy Corp. | ||||
11/15/2031 | 7.375% | 1,142,000 | 1,600,898 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
FirstEnergy Corp.(g) | ||||
07/15/2047 | 5.350% | 1,712,000 | 2,156,630 | |
Leeward Renewable Energy Operations LLC(d) | ||||
07/01/2029 | 4.250% | 2,646,000 | 2,698,308 | |
NextEra Energy Operating Partners LP(d) | ||||
10/15/2026 | 3.875% | 5,194,000 | 5,517,815 | |
09/15/2027 | 4.500% | 6,418,000 | 6,909,894 | |
NRG Energy, Inc.(d) | ||||
06/15/2029 | 5.250% | 2,572,000 | 2,759,240 | |
02/15/2031 | 3.625% | 5,147,000 | 5,192,362 | |
Pattern Energy Operations LP/Inc.(d) | ||||
08/15/2028 | 4.500% | 1,261,000 | 1,302,687 | |
PG&E Corp. | ||||
07/01/2028 | 5.000% | 1,193,000 | 1,165,500 | |
TerraForm Power Operating LLC(d) | ||||
01/31/2028 | 5.000% | 2,661,000 | 2,875,975 | |
01/15/2030 | 4.750% | 2,207,000 | 2,323,451 | |
Vistra Operations Co. LLC(d) | ||||
05/01/2029 | 4.375% | 1,781,000 | 1,826,924 | |
Total | 52,736,912 | |||
Environmental 1.7% | ||||
GFL Environmental, Inc.(d) | ||||
06/01/2025 | 4.250% | 6,045,000 | 6,274,843 | |
08/01/2028 | 4.000% | 2,531,000 | 2,502,722 | |
06/15/2029 | 4.750% | 2,254,000 | 2,330,217 | |
Waste Pro USA, Inc.(d) | ||||
02/15/2026 | 5.500% | 4,864,000 | 4,954,039 | |
Total | 16,061,821 | |||
Finance Companies 1.1% | ||||
Provident Funding Associates LP/Finance Corp.(d) | ||||
06/15/2025 | 6.375% | 5,855,000 | 5,985,155 | |
Quicken Loans LLC/Co-Issuer, Inc.(d) | ||||
03/01/2029 | 3.625% | 1,431,000 | 1,439,587 | |
03/01/2031 | 3.875% | 1,836,000 | 1,875,339 | |
Springleaf Finance Corp. | ||||
03/15/2024 | 6.125% | 1,299,000 | 1,398,049 | |
Total | 10,698,130 | |||
Food and Beverage 4.0% | ||||
FAGE International SA/USA Dairy Industry, Inc.(d) | ||||
08/15/2026 | 5.625% | 6,269,000 | 6,457,398 | |
JBS USA LUX SA/Food Co./Finance, Inc.(d) | ||||
12/01/2031 | 3.750% | 1,393,000 | 1,427,145 | |
Kraft Heinz Foods Co. | ||||
06/01/2046 | 4.375% | 2,982,000 | 3,429,881 | |
10/01/2049 | 4.875% | 1,212,000 | 1,507,903 |
10 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Kraft Heinz Foods Co. (The) | ||||
07/15/2045 | 5.200% | 3,100,000 | 3,927,721 | |
Lamb Weston Holdings, Inc.(d) | ||||
11/01/2024 | 4.625% | 2,632,000 | 2,704,536 | |
Performance Food Group, Inc.(d) | ||||
05/01/2025 | 6.875% | 824,000 | 876,743 | |
Pilgrim’s Pride Corp.(d) | ||||
09/30/2027 | 5.875% | 1,748,000 | 1,868,987 | |
04/15/2031 | 4.250% | 5,160,000 | 5,491,963 | |
Post Holdings, Inc.(d) | ||||
03/01/2027 | 5.750% | 2,642,000 | 2,752,981 | |
01/15/2028 | 5.625% | 1,446,000 | 1,525,519 | |
04/15/2030 | 4.625% | 1,844,000 | 1,878,797 | |
09/15/2031 | 4.500% | 2,350,000 | 2,377,351 | |
Primo Water Holdings, Inc.(d) | ||||
04/30/2029 | 4.375% | 1,407,000 | 1,409,558 | |
Total | 37,636,483 | |||
Gaming 3.8% | ||||
Boyd Gaming Corp.(d) | ||||
06/01/2025 | 8.625% | 817,000 | 893,396 | |
06/15/2031 | 4.750% | 2,234,000 | 2,313,412 | |
Boyd Gaming Corp. | ||||
12/01/2027 | 4.750% | 894,000 | 926,306 | |
Caesars Resort Collection LLC/CRC Finco, Inc.(d) | ||||
10/15/2025 | 5.250% | 2,049,000 | 2,064,525 | |
CCM Merger, Inc.(d) | ||||
05/01/2026 | 6.375% | 2,545,000 | 2,678,085 | |
Colt Merger Sub, Inc.(d) | ||||
07/01/2025 | 5.750% | 1,158,000 | 1,216,444 | |
07/01/2025 | 6.250% | 4,727,000 | 4,986,980 | |
International Game Technology PLC(d) | ||||
02/15/2025 | 6.500% | 3,329,000 | 3,715,259 | |
04/15/2026 | 4.125% | 1,252,000 | 1,303,692 | |
Midwest Gaming Borrower LLC(d) | ||||
05/01/2029 | 4.875% | 3,427,000 | 3,454,284 | |
Penn National Gaming, Inc.(d) | ||||
07/01/2029 | 4.125% | 1,057,000 | 1,041,828 | |
Scientific Games International, Inc.(d) | ||||
10/15/2025 | 5.000% | 4,503,000 | 4,626,833 | |
05/15/2028 | 7.000% | 1,338,000 | 1,443,902 | |
11/15/2029 | 7.250% | 2,453,000 | 2,750,427 | |
Wynn Las Vegas LLC/Capital Corp.(d) | ||||
03/01/2025 | 5.500% | 2,172,000 | 2,302,400 | |
Total | 35,717,773 | |||
Health Care 6.1% | ||||
Acadia Healthcare Co., Inc.(d) | ||||
07/01/2028 | 5.500% | 670,000 | 716,780 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Avantor Funding, Inc.(d) | ||||
07/15/2028 | 4.625% | 2,632,000 | 2,770,616 | |
Catalent Pharma Solutions, Inc.(d) | ||||
07/15/2027 | 5.000% | 980,000 | 1,028,288 | |
Charles River Laboratories International, Inc.(d) | ||||
05/01/2028 | 4.250% | 884,000 | 923,993 | |
03/15/2029 | 3.750% | 923,000 | 946,213 | |
03/15/2031 | 4.000% | 739,000 | 778,841 | |
CHS/Community Health Systems, Inc.(d) | ||||
02/15/2025 | 6.625% | 3,274,000 | 3,434,847 | |
03/15/2026 | 8.000% | 3,103,000 | 3,325,738 | |
Encompass Health Corp. | ||||
02/01/2028 | 4.500% | 1,786,000 | 1,857,440 | |
HCA, Inc. | ||||
09/01/2028 | 5.625% | 3,580,000 | 4,304,413 | |
09/01/2030 | 3.500% | 3,154,000 | 3,414,629 | |
Hologic, Inc.(d) | ||||
02/01/2028 | 4.625% | 748,000 | 791,968 | |
Indigo Merger Sub, Inc.(d) | ||||
07/15/2026 | 2.875% | 832,000 | 849,604 | |
IQVIA, Inc.(d) | ||||
05/15/2027 | 5.000% | 2,436,000 | 2,540,696 | |
Jaguar Holding Co. II/PPD Development LP(d) | ||||
06/15/2025 | 4.625% | 1,497,000 | 1,569,979 | |
06/15/2028 | 5.000% | 1,376,000 | 1,486,558 | |
RP Escrow Issuer LLC(d) | ||||
12/15/2025 | 5.250% | 3,053,000 | 3,149,071 | |
Select Medical Corp.(d) | ||||
08/15/2026 | 6.250% | 4,485,000 | 4,747,951 | |
Syneos Health, Inc.(d) | ||||
01/15/2029 | 3.625% | 1,240,000 | 1,235,997 | |
Teleflex, Inc. | ||||
11/15/2027 | 4.625% | 2,825,000 | 2,987,290 | |
Teleflex, Inc.(d) | ||||
06/01/2028 | 4.250% | 1,089,000 | 1,135,416 | |
Tenet Healthcare Corp.(d) | ||||
04/01/2025 | 7.500% | 2,150,000 | 2,311,895 | |
01/01/2026 | 4.875% | 4,325,000 | 4,474,037 | |
02/01/2027 | 6.250% | 5,764,000 | 6,006,616 | |
US Acute Care Solutions LLC(d) | ||||
03/01/2026 | 6.375% | 1,380,000 | 1,435,035 | |
Total | 58,223,911 | |||
Healthcare Insurance 0.6% | ||||
Centene Corp. | ||||
02/15/2030 | 3.375% | 919,000 | 960,284 | |
10/15/2030 | 3.000% | 3,918,000 | 4,075,542 |
Columbia Income Opportunities Fund | Annual Report 2021 | 11 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Centene Corp.(e) | ||||
08/01/2031 | 2.625% | 794,000 | 794,774 | |
Total | 5,830,600 | |||
Home Construction 0.6% | ||||
Shea Homes LP/Funding Corp.(d) | ||||
02/15/2028 | 4.750% | 3,172,000 | 3,259,091 | |
Taylor Morrison Communities, Inc./Holdings II(d) | ||||
03/01/2024 | 5.625% | 2,549,000 | 2,753,983 | |
Total | 6,013,074 | |||
Independent Energy 6.4% | ||||
Apache Corp. | ||||
11/15/2025 | 4.625% | 1,278,000 | 1,374,367 | |
11/15/2027 | 4.875% | 1,706,000 | 1,836,096 | |
01/15/2030 | 4.250% | 907,000 | 948,344 | |
09/01/2040 | 5.100% | 1,111,000 | 1,191,547 | |
02/01/2042 | 5.250% | 840,000 | 903,603 | |
04/15/2043 | 4.750% | 1,839,000 | 1,894,168 | |
01/15/2044 | 4.250% | 600,000 | 589,656 | |
Callon Petroleum Co. | ||||
07/01/2026 | 6.375% | 5,887,000 | 5,302,821 | |
Callon Petroleum Co.(d) | ||||
08/01/2028 | 8.000% | 287,000 | 269,859 | |
CNX Resources Corp.(d) | ||||
03/14/2027 | 7.250% | 2,580,000 | 2,749,916 | |
01/15/2029 | 6.000% | 955,000 | 1,010,960 | |
Comstock Resources, Inc.(d) | ||||
03/01/2029 | 6.750% | 891,000 | 930,897 | |
01/15/2030 | 5.875% | 828,000 | 832,866 | |
CrownRock LP/Finance, Inc.(d) | ||||
05/01/2029 | 5.000% | 903,000 | 943,271 | |
Endeavor Energy Resources LP/Finance, Inc.(d) | ||||
01/30/2028 | 5.750% | 563,000 | 591,139 | |
EQT Corp. | ||||
01/15/2029 | 5.000% | 2,036,000 | 2,300,919 | |
EQT Corp.(g) | ||||
02/01/2030 | 8.750% | 1,410,000 | 1,852,242 | |
EQT Corp.(d) | ||||
05/15/2031 | 3.625% | 1,313,000 | 1,390,118 | |
Hilcorp Energy I LP/Finance Co.(d) | ||||
02/01/2029 | 5.750% | 1,822,000 | 1,862,537 | |
Indigo Natural Resources LLC(d) | ||||
02/01/2029 | 5.375% | 1,468,000 | 1,530,059 | |
Matador Resources Co. | ||||
09/15/2026 | 5.875% | 3,692,000 | 3,751,622 | |
Newfield Exploration Co. | ||||
01/01/2026 | 5.375% | 2,227,000 | 2,511,261 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Occidental Petroleum Corp. | ||||
04/15/2026 | 3.400% | 4,868,000 | 4,919,379 | |
08/15/2026 | 3.200% | 859,000 | 856,055 | |
08/15/2029 | 3.500% | 553,000 | 551,555 | |
09/01/2030 | 6.625% | 2,838,000 | 3,461,593 | |
01/01/2031 | 6.125% | 2,052,000 | 2,426,184 | |
09/15/2036 | 6.450% | 811,000 | 977,900 | |
04/15/2046 | 4.400% | 5,788,000 | 5,684,153 | |
Ovintiv, Inc. | ||||
11/01/2031 | 7.200% | 350,000 | 467,816 | |
SM Energy Co. | ||||
09/15/2026 | 6.750% | 3,381,000 | 3,355,781 | |
01/15/2027 | 6.625% | 766,000 | 763,071 | |
07/15/2028 | 6.500% | 761,000 | 758,225 | |
Total | 60,789,980 | |||
Leisure 2.7% | ||||
Carnival Corp.(d) | ||||
03/01/2026 | 7.625% | 4,357,000 | 4,616,013 | |
03/01/2027 | 5.750% | 2,642,000 | 2,684,605 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. | ||||
06/01/2024 | 5.375% | 1,732,000 | 1,746,592 | |
Cinemark USA, Inc.(d) | ||||
03/15/2026 | 5.875% | 1,674,000 | 1,644,809 | |
07/15/2028 | 5.250% | 1,565,000 | 1,471,317 | |
NCL Corp Ltd.(d) | ||||
03/15/2026 | 5.875% | 3,126,000 | 3,149,017 | |
Royal Caribbean Cruises Ltd.(d) | ||||
06/15/2023 | 9.125% | 3,230,000 | 3,519,180 | |
07/01/2026 | 4.250% | 3,360,000 | 3,278,002 | |
04/01/2028 | 5.500% | 882,000 | 899,205 | |
Six Flags Entertainment Corp.(d) | ||||
07/31/2024 | 4.875% | 2,176,000 | 2,193,198 | |
Total | 25,201,938 | |||
Lodging 0.2% | ||||
Hilton Domestic Operating Co., Inc.(d) | ||||
05/01/2025 | 5.375% | 1,769,000 | 1,852,358 | |
Marriott Ownership Resorts, Inc.(d) | ||||
06/15/2029 | 4.500% | 562,000 | 565,782 | |
Total | 2,418,140 | |||
Media and Entertainment 3.7% | ||||
Clear Channel International BV(d) | ||||
08/01/2025 | 6.625% | 1,773,000 | 1,858,888 | |
Clear Channel Worldwide Holdings, Inc.(d) | ||||
08/15/2027 | 5.125% | 6,342,000 | 6,515,308 | |
iHeartCommunications, Inc.(d) | ||||
08/15/2027 | 5.250% | 1,786,000 | 1,862,177 | |
01/15/2028 | 4.750% | 4,435,000 | 4,581,410 |
12 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Netflix, Inc. | ||||
11/15/2028 | 5.875% | 6,376,000 | 7,922,180 | |
05/15/2029 | 6.375% | 589,000 | 757,216 | |
Netflix, Inc.(d) | ||||
11/15/2029 | 5.375% | 1,177,000 | 1,451,316 | |
06/15/2030 | 4.875% | 1,214,000 | 1,463,295 | |
Outfront Media Capital LLC/Corp.(d) | ||||
08/15/2027 | 5.000% | 1,335,000 | 1,368,474 | |
01/15/2029 | 4.250% | 1,222,000 | 1,226,620 | |
03/15/2030 | 4.625% | 3,133,000 | 3,157,441 | |
Playtika Holding Corp.(d) | ||||
03/15/2029 | 4.250% | 2,452,000 | 2,446,573 | |
Total | 34,610,898 | |||
Metals and Mining 3.4% | ||||
Alcoa Nederland Holding BV(d) | ||||
09/30/2026 | 7.000% | 1,321,000 | 1,378,252 | |
03/31/2029 | 4.125% | 1,205,000 | 1,265,926 | |
Constellium SE(d) | ||||
06/15/2028 | 5.625% | 1,467,000 | 1,569,404 | |
04/15/2029 | 3.750% | 3,713,000 | 3,710,371 | |
Freeport-McMoRan, Inc. | ||||
03/15/2043 | 5.450% | 3,388,000 | 4,353,304 | |
Hudbay Minerals, Inc.(d) | ||||
04/01/2029 | 6.125% | 7,705,000 | 8,299,614 | |
Kaiser Aluminum Corp.(d) | ||||
06/01/2031 | 4.500% | 2,548,000 | 2,649,949 | |
Novelis Corp.(d) | ||||
09/30/2026 | 5.875% | 4,537,000 | 4,705,874 | |
01/30/2030 | 4.750% | 1,329,000 | 1,415,673 | |
Novelis Corp.(d),(e) | ||||
11/15/2026 | 3.250% | 1,186,000 | 1,202,695 | |
08/15/2031 | 3.875% | 1,430,000 | 1,446,076 | |
Total | 31,997,138 | |||
Midstream 6.7% | ||||
Cheniere Energy Partners LP | ||||
10/01/2026 | 5.625% | 2,909,000 | 3,005,002 | |
Cheniere Energy Partners LP(d) | ||||
03/01/2031 | 4.000% | 1,427,000 | 1,509,150 | |
Cheniere Energy, Inc. | ||||
10/15/2028 | 4.625% | 3,615,000 | 3,818,250 | |
DCP Midstream Operating LP | ||||
04/01/2044 | 5.600% | 2,452,000 | 2,816,694 | |
Delek Logistics Partners LP/Finance Corp. | ||||
05/15/2025 | 6.750% | 2,404,000 | 2,446,480 | |
DT Midstream, Inc.(d) | ||||
06/15/2029 | 4.125% | 1,412,000 | 1,447,912 | |
06/15/2031 | 4.375% | 1,129,000 | 1,171,556 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
EQM Midstream Partners LP(d) | ||||
07/01/2027 | 6.500% | 2,379,000 | 2,670,944 | |
01/15/2029 | 4.500% | 2,163,000 | 2,198,531 | |
01/15/2031 | 4.750% | 4,297,000 | 4,389,513 | |
Holly Energy Partners LP/Finance Corp.(d) | ||||
02/01/2028 | 5.000% | 3,553,000 | 3,601,716 | |
ITT Holdings LLC(d) | ||||
08/01/2029 | 6.500% | 161,000 | 160,606 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 1,770,000 | 1,935,012 | |
06/01/2026 | 6.000% | 1,402,000 | 1,520,814 | |
04/28/2027 | 5.625% | 3,054,000 | 3,303,970 | |
Rockpoint Gas Storage Canada Ltd.(d) | ||||
03/31/2023 | 7.000% | 4,435,000 | 4,529,633 | |
Sunoco LP/Finance Corp. | ||||
02/15/2026 | 5.500% | 3,585,000 | 3,689,668 | |
Targa Resources Partners LP/Finance Corp. | ||||
03/01/2030 | 5.500% | 3,399,000 | 3,747,022 | |
Targa Resources Partners LP/Finance Corp.(d) | ||||
02/01/2031 | 4.875% | 2,599,000 | 2,809,205 | |
01/15/2032 | 4.000% | 1,950,000 | 2,015,709 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 4,225,000 | 4,299,506 | |
Venture Global Calcasieu Pass LLC(d),(e) | ||||
08/15/2029 | 3.875% | 1,438,000 | 1,468,762 | |
08/15/2031 | 4.125% | 1,683,000 | 1,735,676 | |
Western Gas Partners LP | ||||
07/01/2026 | 4.650% | 2,558,000 | 2,740,957 | |
Total | 63,032,288 | |||
Oil Field Services 0.8% | ||||
Apergy Corp. | ||||
05/01/2026 | 6.375% | 2,131,000 | 2,227,968 | |
Transocean Sentry Ltd.(d) | ||||
05/15/2023 | 5.375% | 5,871,313 | 5,612,864 | |
Total | 7,840,832 | |||
Other REIT 2.0% | ||||
Ladder Capital Finance Holdings LLLP/Corp.(d) | ||||
03/15/2022 | 5.250% | 2,305,000 | 2,311,540 | |
10/01/2025 | 5.250% | 5,415,000 | 5,496,314 | |
02/01/2027 | 4.250% | 744,000 | 743,209 | |
06/15/2029 | 4.750% | 3,928,000 | 3,912,212 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(d) | ||||
10/01/2028 | 5.875% | 1,120,000 | 1,193,701 | |
Park Intermediate Holdings LLC/PK Domestic Property LLC/Finance Co-Issuer(d) | ||||
05/15/2029 | 4.875% | 1,416,000 | 1,452,677 | |
RLJ Lodging Trust LP(d) | ||||
07/01/2026 | 3.750% | 969,000 | 981,570 |
Columbia Income Opportunities Fund | Annual Report 2021 | 13 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Service Properties Trust | ||||
03/15/2024 | 4.650% | 1,652,000 | 1,680,428 | |
10/01/2024 | 4.350% | 771,000 | 777,229 | |
Total | 18,548,880 | |||
Packaging 2.0% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(d) | ||||
09/01/2029 | 4.000% | 4,842,000 | 4,847,508 | |
Ardagh Packaging Finance PLC/Holdings USA, Inc.(d) | ||||
04/30/2025 | 5.250% | 2,694,000 | 2,811,466 | |
08/15/2026 | 4.125% | 2,302,000 | 2,375,613 | |
CANPACK SA/Eastern PA Land Investment Holding LLC(d) | ||||
11/01/2025 | 3.125% | 1,749,000 | 1,779,608 | |
Trivium Packaging Finance BV(d) | ||||
08/15/2026 | 5.500% | 6,695,000 | 7,013,018 | |
Total | 18,827,213 | |||
Pharmaceuticals 2.5% | ||||
Bausch Health Companies, Inc.(d) | ||||
04/15/2025 | 6.125% | 2,272,000 | 2,321,294 | |
01/31/2027 | 8.500% | 3,439,000 | 3,722,359 | |
01/30/2028 | 5.000% | 1,675,000 | 1,601,332 | |
06/01/2028 | 4.875% | 681,000 | 702,498 | |
02/15/2029 | 6.250% | 3,898,000 | 3,880,979 | |
Jazz Securities DAC(d) | ||||
01/15/2029 | 4.375% | 1,315,000 | 1,372,480 | |
Organon Finance 1 LLC(d) | ||||
04/30/2028 | 4.125% | 3,647,000 | 3,740,179 | |
04/30/2031 | 5.125% | 3,618,000 | 3,727,205 | |
Par Pharmaceutical, Inc.(d) | ||||
04/01/2027 | 7.500% | 2,311,000 | 2,359,378 | |
Total | 23,427,704 | |||
Property & Casualty 0.9% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(d) | ||||
10/15/2027 | 4.250% | 6,458,000 | 6,413,826 | |
Lumbermens Mutual Casualty Co.(d),(h) | ||||
12/01/2097 | 0.000% | 4,600,000 | 4,600 | |
Subordinated | ||||
12/01/2037 | 0.000% | 180,000 | 180 | |
Lumbermens Mutual Casualty Co.(h) | ||||
Subordinated | ||||
07/01/2026 | 0.000% | 9,865,000 | 9,865 | |
MGIC Investment Corp. | ||||
08/15/2028 | 5.250% | 491,000 | 522,616 | |
Radian Group, Inc. | ||||
03/15/2025 | 6.625% | 197,000 | 221,051 | |
03/15/2027 | 4.875% | 1,162,000 | 1,262,596 | |
Total | 8,434,734 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Restaurants 1.0% | ||||
1011778 BC ULC/New Red Finance, Inc.(d) | ||||
01/15/2028 | 3.875% | 2,524,000 | 2,545,067 | |
IRB Holding Corp.(d) | ||||
06/15/2025 | 7.000% | 6,560,000 | 7,016,689 | |
Total | 9,561,756 | |||
Retailers 1.0% | ||||
L Brands, Inc. | ||||
02/01/2028 | 5.250% | 1,286,000 | 1,447,336 | |
11/01/2035 | 6.875% | 2,568,000 | 3,303,640 | |
LCM Investments Holdings II LLC(d) | ||||
05/01/2029 | 4.875% | 1,026,000 | 1,053,556 | |
Penske Automotive Group, Inc. | ||||
09/01/2025 | 3.500% | 916,000 | 944,502 | |
PetSmart, Inc./Finance Corp.(d) | ||||
02/15/2028 | 4.750% | 2,294,000 | 2,378,299 | |
Total | 9,127,333 | |||
Supermarkets 0.5% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(d) | ||||
03/15/2026 | 7.500% | 1,483,000 | 1,616,143 | |
02/15/2028 | 5.875% | 655,000 | 700,947 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(d) | ||||
01/15/2027 | 4.625% | 1,326,000 | 1,401,661 | |
SEG Holding LLC/Finance Corp.(d) | ||||
10/15/2028 | 5.625% | 838,000 | 883,216 | |
Total | 4,601,967 | |||
Technology 6.5% | ||||
Black Knight InfoServ LLC(d) | ||||
09/01/2028 | 3.625% | 2,335,000 | 2,341,907 | |
Boxer Parent Co., Inc.(d) | ||||
10/02/2025 | 7.125% | 1,027,000 | 1,095,386 | |
Camelot Finance SA(d) | ||||
11/01/2026 | 4.500% | 1,779,000 | 1,854,496 | |
CDK Global, Inc. | ||||
06/01/2027 | 4.875% | 1,771,000 | 1,864,674 | |
Clarivate Science Holdings Corp.(d) | ||||
06/30/2028 | 3.875% | 1,124,000 | 1,133,922 | |
CommScope Technologies LLC(d) | ||||
06/15/2025 | 6.000% | 2,826,000 | 2,869,207 | |
Everi Holdings, Inc.(d) | ||||
07/15/2029 | 5.000% | 241,000 | 246,495 | |
Gartner, Inc.(d) | ||||
06/15/2029 | 3.625% | 852,000 | 873,028 |
14 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Helios Software Holdings, Inc.(d) | ||||
05/01/2028 | 4.625% | 2,775,000 | 2,734,192 | |
ION Trading Technologies Sarl(d) | ||||
05/15/2028 | 5.750% | 2,422,000 | 2,516,022 | |
Logan Merger Sub, Inc.(d) | ||||
09/01/2027 | 5.500% | 5,227,000 | 5,440,294 | |
Microchip Technology, Inc. | ||||
09/01/2025 | 4.250% | 2,205,000 | 2,318,053 | |
NCR Corp.(d) | ||||
10/01/2028 | 5.000% | 2,863,000 | 2,950,999 | |
Nielsen Finance LLC/Co.(d) | ||||
10/01/2028 | 5.625% | 1,740,000 | 1,837,620 | |
07/15/2029 | 4.500% | 1,134,000 | 1,143,531 | |
07/15/2031 | 4.750% | 1,416,000 | 1,428,812 | |
Plantronics, Inc.(d) | ||||
03/01/2029 | 4.750% | 6,416,000 | 6,263,944 | |
PTC, Inc.(d) | ||||
02/15/2028 | 4.000% | 911,000 | 941,794 | |
QualityTech LP/QTS Finance Corp.(d) | ||||
10/01/2028 | 3.875% | 4,886,000 | 5,236,376 | |
Sabre GLBL, Inc.(d) | ||||
04/15/2025 | 9.250% | 797,000 | 932,560 | |
09/01/2025 | 7.375% | 1,478,000 | 1,580,047 | |
Shift4 Payments LLC/Finance Sub, Inc.(d) | ||||
11/01/2026 | 4.625% | 2,899,000 | 3,019,381 | |
Square, Inc.(d) | ||||
06/01/2026 | 2.750% | 546,000 | 558,101 | |
06/01/2031 | 3.500% | 1,835,000 | 1,903,351 | |
Switch Ltd.(d) | ||||
09/15/2028 | 3.750% | 1,017,000 | 1,039,939 | |
06/15/2029 | 4.125% | 1,127,000 | 1,160,494 | |
Tempo Acquisition LLC/Finance Corp.(d) | ||||
06/01/2025 | 5.750% | 1,675,000 | 1,768,701 | |
ZoomInfo Technologies LLC/Finance Corp.(d) | ||||
02/01/2029 | 3.875% | 4,607,000 | 4,610,577 | |
Total | 61,663,903 | |||
Wireless 3.5% | ||||
Altice France SA(d) | ||||
02/01/2027 | 8.125% | 3,063,000 | 3,317,135 | |
01/15/2028 | 5.500% | 2,534,000 | 2,597,262 | |
07/15/2029 | 5.125% | 2,921,000 | 2,941,120 | |
SBA Communications Corp. | ||||
02/15/2027 | 3.875% | 3,615,000 | 3,725,406 | |
Sprint Capital Corp. | ||||
11/15/2028 | 6.875% | 5,588,000 | 7,204,415 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
T-Mobile USA, Inc. | ||||
02/15/2029 | 2.625% | 3,927,000 | 3,927,274 | |
02/15/2031 | 2.875% | 2,182,000 | 2,193,486 | |
04/15/2031 | 3.500% | 587,000 | 617,153 | |
Vmed O2 UK Financing I PLC(d) | ||||
01/31/2031 | 4.250% | 3,244,000 | 3,210,658 | |
07/15/2031 | 4.750% | 3,314,000 | 3,383,786 | |
Total | 33,117,695 | |||
Wirelines 2.7% | ||||
CenturyLink, Inc. | ||||
04/01/2024 | 7.500% | 10,039,000 | 11,286,755 | |
CenturyLink, Inc.(d) | ||||
12/15/2026 | 5.125% | 3,498,000 | 3,636,692 | |
02/15/2027 | 4.000% | 1,365,000 | 1,404,016 | |
DIRECTV Holdings LLC/Financing Co., Inc.(d),(e) | ||||
08/15/2027 | 5.875% | 1,079,000 | 1,116,340 | |
Front Range BidCo, Inc.(d) | ||||
03/01/2027 | 4.000% | 7,044,000 | 7,013,725 | |
Lumen Technologies, Inc.(d) | ||||
06/15/2029 | 5.375% | 1,123,000 | 1,153,025 | |
Total | 25,610,553 | |||
Total Corporate Bonds & Notes (Cost $828,871,280) | 871,262,863 | |||
Foreign Government Obligations(i) 0.4% | ||||
Canada 0.4% | ||||
NOVA Chemicals Corp.(d) | ||||
06/01/2027 | 5.250% | 2,136,000 | 2,303,119 | |
05/15/2029 | 4.250% | 1,154,000 | 1,169,359 | |
Total | 3,472,478 | |||
Total Foreign Government Obligations (Cost $2,940,033) | 3,472,478 | |||
Senior Loans 3.2% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Consumer Cyclical Services 0.5% | ||||
8th Avenue Food & Provisions, Inc.(j),(k) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 10/01/2025 | 3.589% | 4,717,594 | 4,689,288 | |
Food and Beverage 0.3% | ||||
BellRing Brands LLC(j),(k) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 10/21/2024 | 4.750% | 3,335,677 | 3,347,652 |
Columbia Income Opportunities Fund | Annual Report 2021 | 15 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Care 0.6% | ||||
Radiology Partners, Inc.(j),(k) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month USD LIBOR + 4.250% 07/09/2025 | 4.348% | 617,000 | 614,816 | |
Surgery Center Holdings, Inc.(j),(k) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 08/31/2026 | 4.500% | 5,424,230 | 5,418,426 | |
Total | 6,033,242 | |||
Media and Entertainment 0.4% | ||||
Cengage Learning, Inc.(j),(k),(l) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 1.000% 07/14/2026 | 5.750% | 3,741,441 | 3,735,904 | |
Restaurants 0.4% | ||||
IRB Holding Corp./Arby’s/Buffalo Wild Wings(j),(k) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 1.000% 02/05/2025 | 3.750% | 3,680,409 | 3,658,658 | |
Technology 1.0% | ||||
Ascend Learning LLC(j),(k) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 1.000% 07/12/2024 | 4.000% | 2,729,114 | 2,722,292 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Project Alpha Intermediate Holding, Inc.(j),(k) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% 04/26/2024 | 4.100% | 2,043,342 | 2,038,233 | |
UKG, Inc.(j),(k) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.750% 05/04/2026 | 3.842% | 1,520,910 | 1,519,298 | |
1-month USD LIBOR + 3.250% Floor 0.750% 05/04/2026 | 4.000% | 2,958,680 | 2,955,277 | |
Total | 9,235,100 | |||
Total Senior Loans (Cost $30,764,063) | 30,699,844 |
Money Market Funds 4.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(m),(n) | 41,591,181 | 41,587,022 |
Total Money Market Funds (Cost $41,587,022) | 41,587,022 | |
Total Investments in Securities (Cost: $909,414,520) | 949,416,444 | |
Other Assets & Liabilities, Net | (3,138,139) | |
Net Assets | 946,278,305 |
(a) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2021, the total value of these securities amounted to $61, which represents less than 0.01% of total net assets. |
(b) | Non-income producing investment. |
(c) | Valuation based on significant unobservable inputs. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At July 31, 2021, the total value of these securities amounted to $658,040,793, which represents 69.54% of total net assets. |
(e) | Represents a security purchased on a when-issued basis. |
(f) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(g) | 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 July 31, 2021. |
(h) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $14,645, which represents less than 0.01% of total net assets. |
(i) | Principal and interest may not be guaranteed by a governmental entity. |
16 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
(j) | The stated interest rate represents the weighted average interest rate at July 31, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. These base lending rates are primarily the LIBOR and other short-term rates. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(k) | Variable rate security. The interest rate shown was the current rate as of July 31, 2021. |
(l) | Represents a security purchased on a forward commitment basis. |
(m) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
(n) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
40,340,970 | 530,481,677 | (529,235,625) | — | 41,587,022 | (7,127) | 41,835 | 41,591,181 |
LIBOR | London Interbank Offered Rate |
■ | 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). |
Columbia Income Opportunities Fund | Annual Report 2021 | 17 |
July 31, 2021
The following table is a summary of the inputs used to value the Fund’s investments at July 31, 2021:
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 3,575 | — | 61 | 3,636 |
Consumer Discretionary | 145,408 | — | — | 145,408 |
Industrials | 4,543 | — | — | 4,543 |
Utilities | — | — | 0* | 0* |
Total Common Stocks | 153,526 | — | 61 | 153,587 |
Convertible Bonds | — | 2,240,650 | — | 2,240,650 |
Corporate Bonds & Notes | — | 871,262,863 | — | 871,262,863 |
Foreign Government Obligations | — | 3,472,478 | — | 3,472,478 |
Senior Loans | — | 30,699,844 | — | 30,699,844 |
Money Market Funds | 41,587,022 | — | — | 41,587,022 |
Total Investments in Securities | 41,740,548 | 907,675,835 | 61 | 949,416,444 |
* | Rounds to zero. |
18 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $867,827,498) | $907,829,422 |
Affiliated issuers (cost $41,587,022) | 41,587,022 |
Cash | 34,184 |
Receivable for: | |
Investments sold | 2,424,517 |
Capital shares sold | 3,180,863 |
Dividends | 1,409 |
Interest | 12,060,756 |
Foreign tax reclaims | 9,606 |
Prepaid expenses | 19,430 |
Total assets | 967,147,209 |
Liabilities | |
Payable for: | |
Investments purchased | 1,220,947 |
Investments purchased on a delayed delivery basis | 14,024,969 |
Capital shares purchased | 1,362,846 |
Distributions to shareholders | 3,790,765 |
Management services fees | 16,572 |
Distribution and/or service fees | 2,319 |
Transfer agent fees | 69,663 |
Compensation of board members | 277,259 |
Other expenses | 103,564 |
Total liabilities | 20,868,904 |
Net assets applicable to outstanding capital stock | $946,278,305 |
Represented by | |
Paid in capital | 886,018,252 |
Total distributable earnings (loss) | 60,260,053 |
Total - representing net assets applicable to outstanding capital stock | $946,278,305 |
Columbia Income Opportunities Fund | Annual Report 2021 | 19 |
July 31, 2021
Class A | |
Net assets | $291,522,851 |
Shares outstanding | 29,275,642 |
Net asset value per share | $9.96 |
Maximum sales charge | 4.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $10.46 |
Advisor Class | |
Net assets | $33,673,736 |
Shares outstanding | 3,370,350 |
Net asset value per share | $9.99 |
Class C | |
Net assets | $11,626,276 |
Shares outstanding | 1,168,631 |
Net asset value per share | $9.95 |
Institutional Class | |
Net assets | $277,061,678 |
Shares outstanding | 27,765,923 |
Net asset value per share | $9.98 |
Institutional 2 Class | |
Net assets | $131,970,767 |
Shares outstanding | 13,215,356 |
Net asset value per share | $9.99 |
Institutional 3 Class | |
Net assets | $199,958,527 |
Shares outstanding | 20,050,933 |
Net asset value per share | $9.97 |
Class R | |
Net assets | $464,470 |
Shares outstanding | 46,650 |
Net asset value per share | $9.96 |
20 | Columbia Income Opportunities Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $300,645 |
Dividends — affiliated issuers | 41,835 |
Interest | 68,400,828 |
Interfund lending | 138 |
Total income | 68,743,446 |
Expenses: | |
Management services fees | 8,341,964 |
Distribution and/or service fees | |
Class A | 747,379 |
Class C | 188,289 |
Class R | 2,345 |
Transfer agent fees | |
Class A | 639,671 |
Advisor Class | 53,021 |
Class C | 41,650 |
Institutional Class | 1,348,446 |
Institutional 2 Class | 63,956 |
Institutional 3 Class | 18,232 |
Class R | 1,005 |
Compensation of board members | 111,946 |
Custodian fees | 17,927 |
Printing and postage fees | 240,632 |
Registration fees | 152,366 |
Audit fees | 39,500 |
Legal fees | 21,463 |
Compensation of chief compliance officer | 294 |
Other | 101,859 |
Total expenses | 12,131,945 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,640,695) |
Expense reduction | (360) |
Total net expenses | 10,490,890 |
Net investment income | 58,252,556 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 70,038,963 |
Investments — affiliated issuers | (7,127) |
Net realized gain | 70,031,836 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (21,242,221) |
Net change in unrealized appreciation (depreciation) | (21,242,221) |
Net realized and unrealized gain | 48,789,615 |
Net increase in net assets resulting from operations | $107,042,171 |
Columbia Income Opportunities Fund | Annual Report 2021 | 21 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $58,252,556 | $62,321,209 |
Net realized gain (loss) | 70,031,836 | (567,148) |
Net change in unrealized appreciation (depreciation) | (21,242,221) | 36,245,996 |
Net increase in net assets resulting from operations | 107,042,171 | 98,000,057 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (13,826,779) | (15,044,784) |
Advisor Class | (1,276,837) | (594,869) |
Class C | (711,867) | (1,127,815) |
Institutional Class | (28,632,345) | (19,463,503) |
Institutional 2 Class | (5,610,586) | (4,451,112) |
Institutional 3 Class | (13,300,551) | (19,558,890) |
Class R | (20,547) | (31,903) |
Total distributions to shareholders | (63,379,512) | (60,272,876) |
Increase (decrease) in net assets from capital stock activity | (661,037,945) | 265,674,496 |
Total increase (decrease) in net assets | (617,375,286) | 303,401,677 |
Net assets at beginning of year | 1,563,653,591 | 1,260,251,914 |
Net assets at end of year | $946,278,305 | $1,563,653,591 |
22 | Columbia Income Opportunities Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,357,163 | 32,914,957 | 5,103,651 | 49,679,411 |
Distributions reinvested | 1,268,338 | 12,448,865 | 1,421,336 | 13,711,010 |
Redemptions | (7,818,428) | (76,499,405) | (11,858,541) | (113,329,603) |
Net decrease | (3,192,927) | (31,135,583) | (5,333,554) | (49,939,182) |
Advisor Class | ||||
Subscriptions | 2,589,073 | 25,261,747 | 409,380 | 4,035,748 |
Distributions reinvested | 128,385 | 1,269,071 | 60,423 | 585,156 |
Redemptions | (513,282) | (5,055,214) | (841,950) | (8,106,913) |
Net increase (decrease) | 2,204,176 | 21,475,604 | (372,147) | (3,486,009) |
Class C | ||||
Subscriptions | 99,008 | 972,551 | 262,019 | 2,542,578 |
Distributions reinvested | 71,402 | 698,381 | 113,138 | 1,091,472 |
Redemptions | (1,740,717) | (17,145,880) | (1,373,697) | (13,200,473) |
Net decrease | (1,570,307) | (15,474,948) | (998,540) | (9,566,423) |
Institutional Class | ||||
Subscriptions | 15,404,544 | 150,620,765 | 51,867,423 | 433,551,130 |
Distributions reinvested | 2,762,614 | 27,107,976 | 1,843,427 | 17,553,270 |
Redemptions | (62,914,197) | (623,463,397) | (13,854,497) | (131,601,835) |
Net increase (decrease) | (44,747,039) | (445,734,656) | 39,856,353 | 319,502,565 |
Institutional 2 Class | ||||
Subscriptions | 5,442,638 | 53,679,624 | 6,639,187 | 63,134,322 |
Distributions reinvested | 569,336 | 5,608,439 | 461,299 | 4,439,563 |
Redemptions | (4,023,674) | (39,368,225) | (4,033,891) | (38,211,425) |
Net increase | 1,988,300 | 19,919,838 | 3,066,595 | 29,362,460 |
Institutional 3 Class | ||||
Subscriptions | 3,590,432 | 35,248,369 | 5,836,205 | 55,498,572 |
Distributions reinvested | 619,756 | 6,036,129 | 1,266,320 | 12,209,013 |
Redemptions | (25,442,614) | (251,337,784) | (9,334,298) | (87,511,706) |
Net decrease | (21,232,426) | (210,053,286) | (2,231,773) | (19,804,121) |
Class R | ||||
Subscriptions | 20,845 | 202,493 | 41,006 | 392,072 |
Distributions reinvested | 1,950 | 19,135 | 2,932 | 28,460 |
Redemptions | (26,368) | (256,542) | (89,862) | (815,326) |
Net decrease | (3,573) | (34,914) | (45,924) | (394,794) |
Total net increase (decrease) | (66,553,796) | (661,037,945) | 33,941,010 | 265,674,496 |
Columbia Income Opportunities Fund | Annual Report 2021 | 23 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Class A | ||||||
Year Ended 7/31/2021 | $9.67 | 0.41 | 0.33 | 0.74 | (0.45) | (0.45) |
Year Ended 7/31/2020 | $9.87 | 0.43 | (0.21)(d) | 0.22 | (0.42) | (0.42) |
Year Ended 7/31/2019 | $9.61 | 0.45 | 0.26 | 0.71 | (0.45) | (0.45) |
Year Ended 7/31/2018 | $10.06 | 0.44 | (0.45) | (0.01) | (0.44) | (0.44) |
Year Ended 7/31/2017 | $9.70 | 0.44 | 0.35 | 0.79 | (0.43) | (0.43) |
Advisor Class | ||||||
Year Ended 7/31/2021 | $9.70 | 0.43 | 0.34 | 0.77 | (0.48) | (0.48) |
Year Ended 7/31/2020 | $9.91 | 0.46 | (0.23)(d) | 0.23 | (0.44) | (0.44) |
Year Ended 7/31/2019 | $9.64 | 0.48 | 0.27 | 0.75 | (0.48) | (0.48) |
Year Ended 7/31/2018 | $10.09 | 0.46 | (0.45) | 0.01 | (0.46) | (0.46) |
Year Ended 7/31/2017 | $9.73 | 0.47 | 0.35 | 0.82 | (0.46) | (0.46) |
Class C | ||||||
Year Ended 7/31/2021 | $9.66 | 0.34 | 0.33 | 0.67 | (0.38) | (0.38) |
Year Ended 7/31/2020 | $9.86 | 0.36 | (0.21)(d) | 0.15 | (0.35) | (0.35) |
Year Ended 7/31/2019 | $9.60 | 0.38 | 0.26 | 0.64 | (0.38) | (0.38) |
Year Ended 7/31/2018 | $10.05 | 0.36 | (0.45) | (0.09) | (0.36) | (0.36) |
Year Ended 7/31/2017 | $9.69 | 0.37 | 0.35 | 0.72 | (0.36) | (0.36) |
Institutional Class | ||||||
Year Ended 7/31/2021 | $9.69 | 0.44 | 0.33 | 0.77 | (0.48) | (0.48) |
Year Ended 7/31/2020 | $9.89 | 0.45 | (0.21)(d) | 0.24 | (0.44) | (0.44) |
Year Ended 7/31/2019 | $9.63 | 0.48 | 0.26 | 0.74 | (0.48) | (0.48) |
Year Ended 7/31/2018 | $10.08 | 0.46 | (0.45) | 0.01 | (0.46) | (0.46) |
Year Ended 7/31/2017 | $9.72 | 0.47 | 0.35 | 0.82 | (0.46) | (0.46) |
Institutional 2 Class | ||||||
Year Ended 7/31/2021 | $9.70 | 0.45 | 0.33 | 0.78 | (0.49) | (0.49) |
Year Ended 7/31/2020 | $9.90 | 0.46 | (0.21)(d) | 0.25 | (0.45) | (0.45) |
Year Ended 7/31/2019 | $9.63 | 0.48 | 0.27 | 0.75 | (0.48) | (0.48) |
Year Ended 7/31/2018 | $10.08 | 0.47 | (0.45) | 0.02 | (0.47) | (0.47) |
Year Ended 7/31/2017 | $9.72 | 0.48 | 0.35 | 0.83 | (0.47) | (0.47) |
24 | Columbia Income Opportunities Fund | Annual Report 2021 |
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 7/31/2021 | $9.96 | 7.85% | 1.15% | 1.01%(c) | 4.18% | 58% | $291,523 |
Year Ended 7/31/2020 | $9.67 | 2.32% | 1.09% | 1.04%(c) | 4.45% | 56% | $314,014 |
Year Ended 7/31/2019 | $9.87 | 7.62% | 1.04% | 1.04% | 4.69% | 43% | $373,159 |
Year Ended 7/31/2018 | $9.61 | (0.12%) | 1.04% | 1.03%(c) | 4.45% | 46% | $421,366 |
Year Ended 7/31/2017 | $10.06 | 8.37% | 1.10%(e) | 1.06%(c),(e) | 4.45% | 53% | $503,167 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $9.99 | 8.11% | 0.90% | 0.76%(c) | 4.42% | 58% | $33,674 |
Year Ended 7/31/2020 | $9.70 | 2.48% | 0.84% | 0.79%(c) | 4.70% | 56% | $11,317 |
Year Ended 7/31/2019 | $9.91 | 7.99% | 0.79% | 0.79% | 4.93% | 43% | $15,240 |
Year Ended 7/31/2018 | $9.64 | 0.15% | 0.79% | 0.79%(c) | 4.73% | 46% | $15,072 |
Year Ended 7/31/2017 | $10.09 | 8.63% | 0.83%(e) | 0.81%(c),(e) | 4.71% | 53% | $11,488 |
Class C | |||||||
Year Ended 7/31/2021 | $9.95 | 7.04% | 1.90% | 1.77%(c) | 3.43% | 58% | $11,626 |
Year Ended 7/31/2020 | $9.66 | 1.55% | 1.84% | 1.79%(c) | 3.70% | 56% | $26,465 |
Year Ended 7/31/2019 | $9.86 | 6.82% | 1.79% | 1.79% | 3.95% | 43% | $36,860 |
Year Ended 7/31/2018 | $9.60 | (0.87%) | 1.78% | 1.78%(c) | 3.69% | 46% | $53,674 |
Year Ended 7/31/2017 | $10.05 | 7.58% | 1.83%(e) | 1.81%(c),(e) | 3.71% | 53% | $88,881 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $9.98 | 8.11% | 0.91% | 0.77%(c) | 4.46% | 58% | $277,062 |
Year Ended 7/31/2020 | $9.69 | 2.58% | 0.87% | 0.78%(c) | 4.76% | 56% | $702,635 |
Year Ended 7/31/2019 | $9.89 | 7.89% | 0.79% | 0.79% | 4.94% | 43% | $323,071 |
Year Ended 7/31/2018 | $9.63 | 0.14% | 0.78% | 0.78%(c) | 4.65% | 46% | $340,274 |
Year Ended 7/31/2017 | $10.08 | 8.65% | 0.84% | 0.82%(c) | 4.77% | 53% | $773,284 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $9.99 | 8.24% | 0.74% | 0.64% | 4.55% | 58% | $131,971 |
Year Ended 7/31/2020 | $9.70 | 2.65% | 0.73% | 0.71% | 4.79% | 56% | $108,883 |
Year Ended 7/31/2019 | $9.90 | 8.08% | 0.72% | 0.72% | 5.01% | 43% | $80,781 |
Year Ended 7/31/2018 | $9.63 | 0.21% | 0.72% | 0.71% | 4.77% | 46% | $76,460 |
Year Ended 7/31/2017 | $10.08 | 8.76% | 0.70% | 0.70% | 4.82% | 53% | $99,507 |
Columbia Income Opportunities Fund | Annual Report 2021 | 25 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Total distributions to shareholders | |
Institutional 3 Class | ||||||
Year Ended 7/31/2021 | $9.69 | 0.45 | 0.32 | 0.77 | (0.49) | (0.49) |
Year Ended 7/31/2020 | $9.89 | 0.47 | (0.21)(d) | 0.26 | (0.46) | (0.46) |
Year Ended 7/31/2019 | $9.62 | 0.49 | 0.27 | 0.76 | (0.49) | (0.49) |
Year Ended 7/31/2018 | $10.07 | 0.47 | (0.45) | 0.02 | (0.47) | (0.47) |
Year Ended 7/31/2017 | $9.71 | 0.48 | 0.36 | 0.84 | (0.48) | (0.48) |
Class R | ||||||
Year Ended 7/31/2021 | $9.67 | 0.38 | 0.34 | 0.72 | (0.43) | (0.43) |
Year Ended 7/31/2020 | $9.87 | 0.41 | (0.22)(d) | 0.19 | (0.39) | (0.39) |
Year Ended 7/31/2019 | $9.61 | 0.43 | 0.26 | 0.69 | (0.43) | (0.43) |
Year Ended 7/31/2018 | $10.06 | 0.41 | (0.45) | (0.04) | (0.41) | (0.41) |
Year Ended 7/31/2017 | $9.70 | 0.42 | 0.35 | 0.77 | (0.41) | (0.41) |
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) | Calculation of the net gain (loss) per share (both realized and unrealized) does not correlate to the aggregate realized and unrealized gain (loss) presented in the Statement of Operations due to the timing of subscriptions and redemptions of Fund shares in relation to fluctuations in the market value of the portfolio. |
(e) | Expenses have been reduced due to a reimbursement of expenses overbilled by a third party. If the reimbursement had been excluded, the expense ratios would have been higher by the percentages shown for each class in the table below. All fee waivers and expense reimbursements by the Investment Manager and its affiliates were applied before giving effect to this third party reimbursement. |
Year Ended | Class A | Advisor Class | Class C | Class R |
07/31/2017 | 0.01% | 0.01% | 0.01% | 0.01% |
26 | Columbia Income Opportunities Fund | Annual Report 2021 |
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 7/31/2021 | $9.97 | 8.19% | 0.68% | 0.61% | 4.61% | 58% | $199,959 |
Year Ended 7/31/2020 | $9.69 | 2.70% | 0.68% | 0.66% | 4.83% | 56% | $399,854 |
Year Ended 7/31/2019 | $9.89 | 8.13% | 0.67% | 0.67% | 5.06% | 43% | $430,191 |
Year Ended 7/31/2018 | $9.62 | 0.26% | 0.67% | 0.66% | 4.84% | 46% | $507,399 |
Year Ended 7/31/2017 | $10.07 | 8.82% | 0.65% | 0.65% | 4.82% | 53% | $348,644 |
Class R | |||||||
Year Ended 7/31/2021 | $9.96 | 7.59% | 1.40% | 1.26%(c) | 3.93% | 58% | $464 |
Year Ended 7/31/2020 | $9.67 | 2.06% | 1.32% | 1.29%(c) | 4.16% | 56% | $486 |
Year Ended 7/31/2019 | $9.87 | 7.35% | 1.29% | 1.29% | 4.44% | 43% | $949 |
Year Ended 7/31/2018 | $9.61 | (0.37%) | 1.28% | 1.28%(c) | 4.15% | 46% | $827 |
Year Ended 7/31/2017 | $10.06 | 8.11% | 1.33%(e) | 1.31%(c),(e) | 4.22% | 53% | $1,598 |
Columbia Income Opportunities Fund | Annual Report 2021 | 27 |
July 31, 2021
28 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Income Opportunities Fund | Annual Report 2021 | 29 |
July 31, 2021
30 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Purchases ($) | Sales ($) | Net realized gain (loss) ($) |
— | 128,768,228 | 6,540,783 |
Columbia Income Opportunities Fund | Annual Report 2021 | 31 |
July 31, 2021
Effective rate (%) | |
Class A | 0.21 |
Advisor Class | 0.21 |
Class C | 0.22 |
Institutional Class | 0.23 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.21 |
32 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00(a) | 80,950 |
Class C | — | 1.00(b) | 1,278 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.00% | 1.03% |
Advisor Class | 0.75 | 0.78 |
Class C | 1.75 | 1.78 |
Institutional Class | 0.75 | 0.78 |
Institutional 2 Class | 0.61 | 0.71 |
Institutional 3 Class | 0.56 | 0.66 |
Class R | 1.25 | 1.28 |
Columbia Income Opportunities Fund | Annual Report 2021 | 33 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
682,022 | (682,022) | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
63,379,512 | — | 63,379,512 | 60,272,876 | — | 60,272,876 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
7,946,622 | 17,307,109 | — | 39,073,223 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
910,343,221 | 46,517,209 | (7,443,986) | 39,073,223 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | — | — | 46,613,299 |
34 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 811,111 | 0.66 | 9 |
Columbia Income Opportunities Fund | Annual Report 2021 | 35 |
July 31, 2021
36 | Columbia Income Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Income Opportunities Fund | Annual Report 2021 | 37 |
38 | Columbia Income Opportunities Fund | Annual Report 2021 |
Capital gain dividend | Section 163(j) Interest Dividends |
$18,172,464 | 100.00% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Income Opportunities Fund | Annual Report 2021 | 39 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
40 | Columbia Income Opportunities Fund | Annual Report 2021 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Income Opportunities Fund | Annual Report 2021 | 41 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
42 | Columbia Income Opportunities Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Income Opportunities Fund | Annual Report 2021 | 43 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
44 | Columbia Income Opportunities Fund | Annual Report 2021 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Income Opportunities Fund | Annual Report 2021 | 45 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
46 | Columbia Income Opportunities Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Income Opportunities Fund | Annual Report 2021 | 47 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
48 | Columbia Income Opportunities Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Income Opportunities Fund | Annual Report 2021 | 49 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
4 | |
5 | |
10 | |
11 | |
12 | |
13 | |
14 | |
21 | |
22 | |
22 | |
28 | |
29 |
Portfolio breakdown (%) (at July 31, 2021) | |
Asset-Backed Commercial Paper | 3.0 |
Asset-Backed Securities — Non-Agency(a) | 5.0 |
Certificates of Deposit | 8.2 |
Commercial Paper | 25.0 |
Repurchase Agreements | 4.7 |
Treasury Bills | 22.4 |
U.S. Government & Agency Obligations | 28.1 |
U.S. Treasury Obligations | 3.6 |
Total | 100.0 |
(a) | Category comprised of short-term asset-backed securities. |
Columbia Short-Term Cash Fund | Annual Report 2021 | 3 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | |
Columbia Short-Term Cash Fund | 1,000.00 | 1,000.00 | 1,000.30 | 1,024.88 | 0.05 | 0.05 | 0.01 |
4 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Asset-Backed Commercial Paper 2.9% | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
MetLife Short Term Funding LLC(a) | ||||
08/30/2021 | 0.110% | 45,000,000 | 44,995,905 | |
08/31/2021 | 0.110% | 90,000,000 | 89,991,540 | |
10/04/2021 | 0.120% | 25,000,000 | 24,994,600 | |
10/05/2021 | 0.120% | 50,000,000 | 49,989,000 | |
10/12/2021 | 0.120% | 75,540,000 | 75,521,266 | |
10/14/2021 | 0.120% | 20,000,000 | 19,994,880 | |
10/18/2021 | 0.120% | 52,000,000 | 51,985,856 | |
10/20/2021 | 0.120% | 50,000,000 | 49,986,000 | |
10/22/2021 | 0.130% | 40,000,000 | 39,988,440 | |
10/26/2021 | 0.130% | 104,972,000 | 104,939,879 | |
10/27/2021 | 0.071% | 30,000,000 | 30,000,000 | |
Total Asset-Backed Commercial Paper (Cost $582,435,574) | 582,387,366 | |||
Asset-Backed Securities — Non-Agency 4.8% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
AmeriCredit Automobile Receivables Trust | ||||
Series 2021-2 Class A1 | ||||
06/20/2022 | 0.135% | 43,231,172 | 43,232,076 | |
ARI Fleet Lease Trust(a) | ||||
Series 2021-A Class A1 | ||||
06/15/2022 | 0.173% | 50,663,639 | 50,670,357 | |
AXIS Equipment Finance Receivables LLC(a) | ||||
Series 2021-1A Class A1 | ||||
04/20/2022 | 0.220% | 5,623,668 | 5,624,155 | |
BCC Funding XVII LLC(a) | ||||
Series 2020-1 Class A1 | ||||
10/20/2021 | 0.310% | 1,335,915 | 1,336,019 | |
BMW Vehicle Lease Trust | ||||
Series 2021-1 Class A1 | ||||
03/25/2022 | 0.145% | 4,134,120 | 4,134,348 | |
CarMax Auto Owner Trust | ||||
Series 2021-2 Class A1 | ||||
04/15/2022 | 0.141% | 28,469,866 | 28,473,239 | |
Carvana Auto Receivables Trust | ||||
Series 2021-P2 Class A1 | ||||
07/10/2022 | 0.129% | 20,488,968 | 20,489,429 | |
CCG Receivables Trust(a) | ||||
Series 2021-1 Class A1 | ||||
02/14/2022 | 0.166% | 4,615,938 | 4,615,766 | |
Dell Equipment Finance Trust(a) | ||||
Series 2021-1 Class A1 | ||||
03/22/2022 | 0.205% | 93,203,042 | 93,200,964 | |
DLLAA LLC(a) | ||||
Series 2021-1A Class A1 | ||||
05/17/2022 | 0.221% | 54,560,942 | 54,568,750 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
DLLAD LLC(a) | ||||
Series 2021-1A Class A1 | ||||
08/19/2022 | 0.158% | 51,000,000 | 51,002,560 | |
Enterprise Fleet Financing LLC(a) | ||||
Series 2021-1 Class A1 | ||||
03/21/2022 | 0.168% | 26,885,961 | 26,889,270 | |
Series 2021-2 Class A1 | ||||
07/20/2022 | 0.175% | 90,000,000 | 90,007,290 | |
Great America Leasing Receivables(a) | ||||
Series 2021-1 Class A1 | ||||
02/15/2022 | 0.189% | 18,327,673 | 18,327,637 | |
Hyundai Auto Lease Securitization Trust(a) | ||||
Series 2021-B Class A1 | ||||
06/15/2022 | 0.112% | 52,358,474 | 52,360,034 | |
Hyundai Auto Receivables Trust | ||||
Series 2021-A Class A1 | ||||
05/16/2022 | 0.126% | 25,383,350 | 25,385,610 | |
Kubota Credit Owner Trust(a) | ||||
Series 2021-1A Class A1 | ||||
04/15/2022 | 0.169% | 21,699,070 | 21,702,832 | |
MMAF Equipment Finance LLC(a) | ||||
Series 2021-A Class A1 | ||||
05/13/2022 | 0.182% | 34,022,180 | 34,027,716 | |
NMEF Funding LLC(a) | ||||
Series 2021-A Class A1 | ||||
03/15/2022 | 0.341% | 17,746,694 | 17,736,111 | |
Santander Drive Auto Receivables Trust | ||||
Series 2021-2 Class A1 | ||||
06/15/2022 | 0.142% | 52,652,068 | 52,652,368 | |
Series 2021-3 Class A1 | ||||
07/15/2022 | 0.141% | 124,000,000 | 124,000,000 | |
Santander Retail Auto Lease Trust(a) | ||||
Series 2021-B Class A1 | ||||
06/20/2022 | 0.163% | 74,620,700 | 74,622,454 | |
SCF Equipment Trust LLC(a) | ||||
Series 2021-1A Class A1 | ||||
03/11/2022 | 0.234% | 4,594,932 | 4,593,734 | |
Westlake Automobile Receivables Trust(a) | ||||
Series 2021-2A Class A1 | ||||
06/16/2022 | 0.149% | 73,054,375 | 73,056,187 | |
Total Asset-Backed Securities — Non-Agency (Cost $972,672,748) | 972,708,906 | |||
Columbia Short-Term Cash Fund | Annual Report 2021 | 5 |
July 31, 2021
Certificates of Deposit 8.0% | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Australia & New Zealand Banking Group Ltd. | ||||
08/02/2021 | 0.080% | 458,300,000 | 458,300,000 | |
Bank of Montreal | ||||
08/17/2021 | 0.110% | 100,000,000 | 100,000,000 | |
08/18/2021 | 0.110% | 100,000,000 | 100,000,000 | |
08/19/2021 | 0.110% | 150,000,000 | 149,998,350 | |
09/02/2021 | 0.120% | 85,000,000 | 84,996,005 | |
09/03/2021 | 0.120% | 100,000,000 | 99,995,100 | |
10/15/2021 | 0.140% | 25,000,000 | 24,997,850 | |
BNP Paribas SA | ||||
08/02/2021 | 0.060% | 113,000,000 | 113,000,000 | |
Cooperatieve Rabobank UA | ||||
08/02/2021 | 0.040% | 488,000,000 | 488,000,407 | |
Total Certificates of Deposit (Cost $1,619,300,000) | 1,619,287,712 | |||
Commercial Paper 24.3% | ||||
Banking 11.9% | ||||
DNB Bank ASA(a) | ||||
09/29/2021 | 0.100% | 100,000,000 | 99,983,200 | |
10/25/2021 | 0.110% | 200,000,000 | 199,947,400 | |
10/26/2021 | 0.110% | 100,000,000 | 99,973,300 | |
10/29/2021 | 0.110% | 100,000,000 | 99,972,100 | |
Nordea Bank Abp(a) | ||||
10/21/2021 | 0.110% | 100,000,000 | 99,974,600 | |
10/27/2021 | 0.110% | 100,000,000 | 99,972,400 | |
10/28/2021 | 0.110% | 200,000,000 | 199,944,000 | |
10/29/2021 | 0.110% | 100,000,000 | 99,971,600 | |
Royal Bank of Canada(a) | ||||
08/18/2021 | 0.110% | 50,000,000 | 49,997,250 | |
10/13/2021 | 0.110% | 100,000,000 | 99,976,500 | |
10/19/2021 | 0.120% | 100,000,000 | 99,974,200 | |
10/27/2021 | 0.120% | 50,000,000 | 49,985,450 | |
11/19/2021 | 0.130% | 100,000,000 | 99,960,900 | |
11/22/2021 | 0.130% | 150,000,000 | 149,939,400 | |
Skandinaviska Enskilda Banken AB(a) | ||||
10/20/2021 | 0.110% | 36,000,000 | 35,991,288 | |
10/27/2021 | 0.110% | 100,000,000 | 99,974,142 | |
10/28/2021 | 0.110% | 100,000,000 | 99,972,700 | |
Toronto-Dominion Bank (The)(a) | ||||
08/02/2021 | 0.070% | 75,000,000 | 74,999,550 | |
08/04/2021 | 0.080% | 70,000,000 | 69,999,230 | |
08/19/2021 | 0.080% | 100,000,000 | 99,995,400 | |
08/23/2021 | 0.090% | 75,000,000 | 74,995,800 | |
08/24/2021 | 0.080% | 50,000,000 | 49,997,100 | |
08/27/2021 | 0.090% | 30,000,000 | 29,998,020 | |
09/07/2021 | 0.090% | 50,000,000 | 49,995,200 | |
09/17/2021 | 0.090% | 75,000,000 | 74,990,550 | |
09/30/2021 | 0.100% | 60,000,000 | 59,989,980 |
Commercial Paper (continued) | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Westpac Banking Corp.(a) | ||||
08/24/2021 | 0.060% | 25,000,000 | 24,999,050 | |
Total | 2,395,470,310 | |||
Consumer Products 1.6% | ||||
Procter & Gamble Co. (The)(a) | ||||
09/24/2021 | 0.100% | 150,000,000 | 149,977,050 | |
09/27/2021 | 0.100% | 25,000,000 | 24,995,950 | |
10/18/2021 | 0.100% | 49,750,000 | 49,738,757 | |
10/20/2021 | 0.100% | 100,000,000 | 99,976,800 | |
Total | 324,688,557 | |||
Life Insurance 1.6% | ||||
New York Life Capital Corp.(a) | ||||
08/17/2021 | 0.120% | 57,684,000 | 57,680,539 | |
08/20/2021 | 0.120% | 20,327,000 | 20,325,577 | |
10/05/2021 | 0.120% | 66,335,000 | 66,320,207 | |
10/15/2021 | 0.120% | 45,196,000 | 45,184,385 | |
Pricoa Short Term Funding LLC(a) | ||||
08/03/2021 | 0.090% | 25,000,000 | 24,999,750 | |
08/06/2021 | 0.090% | 10,000,000 | 9,999,820 | |
Prudential Funding LLC | ||||
08/02/2021 | 0.060% | 50,000,000 | 49,999,750 | |
08/30/2021 | 0.070% | 50,000,000 | 49,997,200 | |
Total | 324,507,228 | |||
Pharmaceuticals 6.6% | ||||
Johnson & Johnson(a) | ||||
08/09/2021 | 0.070% | 50,000,000 | 49,999,000 | |
Novartis Finance Corp.(a) | ||||
08/02/2021 | 0.090% | 18,000,000 | 17,999,874 | |
08/06/2021 | 0.080% | 52,700,000 | 52,699,157 | |
08/16/2021 | 0.080% | 37,700,000 | 37,698,567 | |
08/23/2021 | 0.080% | 12,000,000 | 11,999,364 | |
09/07/2021 | 0.080% | 20,000,000 | 19,998,260 | |
09/13/2021 | 0.080% | 20,000,000 | 19,998,000 | |
11/01/2021 | 0.080% | 22,000,000 | 21,995,402 | |
11/08/2021 | 0.080% | 88,000,000 | 87,980,200 | |
Roche Holdings, Inc.(a) | ||||
08/02/2021 | 0.070% | 60,000,000 | 59,999,640 | |
08/09/2021 | 0.070% | 40,000,000 | 39,999,222 | |
08/13/2021 | 0.080% | 40,000,000 | 39,998,800 | |
08/23/2021 | 0.080% | 110,000,000 | 109,994,170 | |
08/25/2021 | 0.080% | 30,000,000 | 29,998,290 | |
08/27/2021 | 0.080% | 65,000,000 | 64,995,970 | |
08/30/2021 | 0.080% | 30,000,000 | 29,997,930 | |
09/13/2021 | 0.080% | 55,000,000 | 54,994,390 |
6 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Commercial Paper (continued) | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Sanofi SA(a) | ||||
09/21/2021 | 0.070% | 25,000,000 | 24,997,425 | |
09/23/2021 | 0.070% | 240,000,000 | 239,974,320 | |
09/28/2021 | 0.070% | 50,000,000 | 49,994,150 | |
09/30/2021 | 0.070% | 262,550,000 | 262,517,969 | |
Total | 1,327,830,100 | |||
Technology 2.6% | ||||
Apple, Inc.(a) | ||||
09/22/2021 | 0.070% | 75,000,000 | 74,992,200 | |
09/27/2021 | 0.070% | 95,000,000 | 94,988,980 | |
10/19/2021 | 0.080% | 150,000,000 | 149,974,500 | |
10/21/2021 | 0.080% | 210,000,000 | 209,963,250 | |
Total | 529,918,930 | |||
Total Commercial Paper (Cost $4,902,516,725) | 4,902,415,125 | |||
Repurchase Agreements 4.6% | ||||
Tri-party Federal Reserve Bank of New York | ||||
dated 07/30/2021, matures 08/02/2021, | ||||
repurchase price $525,002,188 (collateralized by U.S. Treasury Securities, Total Market Value $525,002,233) | ||||
0.050% | 525,000,000 | 525,000,000 | ||
Tri-party RBC Dominion Securities, Inc. | ||||
dated 07/30/2021, matures 08/02/2021, | ||||
repurchase price $300,001,250 (collateralized by U.S. Treasury Securities, Total Market Value $306,000,006) | ||||
0.040% | 300,000,000 | 300,000,178 | ||
Tri-party TD Securities (USA) LLC | ||||
dated 07/30/2021, matures 08/02/2021, | ||||
repurchase price $100,000,417 (collateralized by U.S. Treasury Securities, Total Market Value $102,000,102) | ||||
0.040% | 100,000,000 | 100,000,060 | ||
Total Repurchase Agreements (Cost $925,000,000) | 925,000,238 | |||
Treasury Bills 21.9% | ||||
United States 21.9% | ||||
U.S. Cash Management Bills | ||||
10/12/2021 | 0.050% | 125,000,000 | 124,988,529 | |
U.S. Treasury Bills | ||||
08/03/2021 | 0.044% | 275,000,000 | 274,999,851 | |
08/05/2021 | 0.010% | 250,000,000 | 249,999,565 | |
08/10/2021 | 0.020% | 350,000,000 | 349,998,106 | |
08/12/2021 | 0.020% | 300,000,000 | 299,997,780 | |
08/17/2021 | 0.020% | 150,000,000 | 149,998,191 | |
08/19/2021 | 0.030% | 150,000,000 | 149,997,612 | |
08/24/2021 | 0.030% | 150,000,000 | 149,996,633 | |
08/26/2021 | 0.030% | 225,000,000 | 224,994,499 | |
08/31/2021 | 0.040% | 200,000,000 | 199,993,812 | |
09/02/2021 | 0.040% | 150,000,000 | 149,994,882 |
Treasury Bills (continued) | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
09/07/2021 | 0.030% | 230,000,000 | 229,991,472 | |
09/09/2021 | 0.040% | 300,000,000 | 299,987,457 | |
09/14/2021 | 0.040% | 300,000,000 | 299,985,972 | |
09/16/2021 | 0.040% | 200,000,000 | 199,990,012 | |
09/21/2021 | 0.040% | 250,000,000 | 249,984,982 | |
09/28/2021 | 0.040% | 250,000,000 | 249,982,940 | |
10/07/2021 | 0.050% | 300,000,000 | 299,972,868 | |
10/14/2021 | 0.040% | 250,000,000 | 249,977,185 | |
Total | 4,404,832,348 | |||
Total Treasury Bills (Cost $4,404,850,481) | 4,404,832,348 | |||
U.S. Government & Agency Obligations 27.3% | ||||
Federal Agricultural Mortgage Corp.(b) | ||||
1-month USD LIBOR + 0.000% 12/01/2021 | 0.100% | 59,000,000 | 59,002,217 | |
Federal Farm Credit Banks Funding Corp.(b) | ||||
1-month USD LIBOR + -0.020% 11/16/2021 | 0.070% | 140,000,000 | 140,006,433 | |
Federal Home Loan Banks(b) | ||||
SOFR + 0.140% 08/18/2021 | 0.190% | 25,000,000 | 25,000,906 | |
SOFR + 0.090% 05/26/2022 | 0.140% | 140,000,000 | 140,046,353 | |
Federal Home Loan Banks | ||||
09/29/2021 | 0.070% | 200,000,000 | 199,989,224 | |
Federal Home Loan Banks Discount Notes | ||||
08/02/2021 | 0.050% | 36,500,000 | 36,499,842 | |
08/04/2021 | 0.050% | 75,000,000 | 74,999,516 | |
08/05/2021 | 0.050% | 49,100,000 | 49,099,574 | |
08/11/2021 | 0.060% | 375,000,000 | 374,993,156 | |
08/13/2021 | 0.060% | 265,400,000 | 265,393,837 | |
08/16/2021 | 0.050% | 205,000,000 | 204,994,963 | |
08/18/2021 | 0.050% | 128,400,000 | 128,396,326 | |
08/20/2021 | 0.050% | 332,000,000 | 331,989,920 | |
08/23/2021 | 0.050% | 115,000,000 | 114,996,011 | |
08/24/2021 | 0.050% | 150,000,000 | 149,994,579 | |
08/25/2021 | 0.050% | 356,000,000 | 355,987,152 | |
08/26/2021 | 0.050% | 142,000,000 | 141,994,458 | |
08/27/2021 | 0.060% | 222,100,000 | 222,090,265 | |
09/01/2021 | 0.050% | 194,000,000 | 193,990,411 | |
09/03/2021 | 0.060% | 288,900,000 | 288,884,605 | |
09/08/2021 | 0.060% | 304,000,000 | 303,980,462 | |
09/10/2021 | 0.050% | 300,000,000 | 299,981,475 | |
09/15/2021 | 0.060% | 230,000,000 | 229,983,350 | |
09/17/2021 | 0.060% | 253,400,000 | 253,379,657 | |
09/22/2021 | 0.060% | 235,850,000 | 235,829,677 | |
09/24/2021 | 0.050% | 100,000,000 | 99,991,600 | |
09/27/2021 | 0.050% | 160,000,000 | 159,985,779 | |
10/06/2021 | 0.060% | 100,000,000 | 99,989,625 | |
10/08/2021 | 0.060% | 100,000,000 | 99,989,290 |
Columbia Short-Term Cash Fund | Annual Report 2021 | 7 |
July 31, 2021
U.S. Government & Agency Obligations (continued) | ||||
Issuer | Effective Yield | Principal Amount ($) | Value ($) | |
Federal Home Loan Mortgage Corp(b) | ||||
SOFR + 0.100% 08/19/2022 | 0.150% | 150,000,000 | 149,985,721 | |
Federal National Mortgage Association Discount Notes | ||||
08/11/2021 | 0.050% | 73,363,000 | 73,361,727 | |
Total U.S. Government & Agency Obligations (Cost $5,504,875,808) | 5,504,808,111 | |||
U.S. Treasury Obligations 3.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury(b) | ||||
3-month U.S. Treasury Index + 0.220% 07/31/2021 | 0.270% | 150,000,000 | 150,000,000 | |
3-month U.S. Treasury Index + 0.049% 01/31/2023 | 0.099% | 400,000,000 | 400,156,924 | |
3-month U.S. Treasury Index + 0.034% 04/30/2023 | 0.084% | 152,862,500 | 152,879,948 | |
Total U.S. Treasury Obligations (Cost $702,885,520) | 703,036,872 |
Total Investments in Securities (Cost: $19,614,536,856) | 19,614,476,678 | |
Other Assets & Liabilities, Net | 540,040,955 | |
Net Assets | 20,154,517,633 |
(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 July 31, 2021, the total value of these securities amounted to $6,059,147,377, which represents 30.06% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of July 31, 2021. |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
8 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Asset-Backed Commercial Paper | — | 582,387,366 | — | 582,387,366 |
Asset-Backed Securities — Non-Agency | — | 972,708,906 | — | 972,708,906 |
Certificates of Deposit | — | 1,619,287,712 | — | 1,619,287,712 |
Commercial Paper | — | 4,902,415,125 | — | 4,902,415,125 |
Repurchase Agreements | — | 925,000,238 | — | 925,000,238 |
Treasury Bills | 4,404,832,348 | — | — | 4,404,832,348 |
U.S. Government & Agency Obligations | — | 5,504,808,111 | — | 5,504,808,111 |
U.S. Treasury Obligations | 703,036,872 | — | — | 703,036,872 |
Total Investments in Securities | 5,107,869,220 | 14,506,607,458 | — | 19,614,476,678 |
Columbia Short-Term Cash Fund | Annual Report 2021 | 9 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $18,689,536,856) | $18,689,476,440 |
Repurchase agreements (cost $925,000,000) | 925,000,238 |
Cash | 540,872,109 |
Receivable for: | |
Interest | 516,022 |
Prepaid expenses | 136,877 |
Total assets | 20,156,001,686 |
Liabilities | |
Payable for: | |
Distributions to shareholders | 858,555 |
Compensation of board members | 534,505 |
Other expenses | 90,993 |
Total liabilities | 1,484,053 |
Net assets applicable to outstanding capital stock | $20,154,517,633 |
Represented by | |
Paid in capital | 20,154,903,995 |
Total distributable earnings (loss) | (386,362) |
Total - representing net assets applicable to outstanding capital stock | $20,154,517,633 |
Shares outstanding | 20,156,691,319 |
Net asset value per share | 0.9999 |
10 | Columbia Short-Term Cash Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $162 |
Interest | 16,728,081 |
Total income | 16,728,243 |
Expenses: | |
Compensation of board members | 363,191 |
Custodian fees | 95,532 |
Shareholder reports and communication | 16,460 |
Audit fees | 29,500 |
Legal fees | 159,150 |
Fidelity and surety fees | 68,454 |
Commitment fees for bank credit facility | 136,081 |
Compensation of chief compliance officer | 3,160 |
Other | 19,892 |
Total expenses | 891,420 |
Net investment income | 15,836,823 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 71,063 |
Net realized gain | 71,063 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (1,313,703) |
Net change in unrealized appreciation (depreciation) | (1,313,703) |
Net realized and unrealized loss | (1,242,640) |
Net increase in net assets resulting from operations | $14,594,183 |
Columbia Short-Term Cash Fund | Annual Report 2021 | 11 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $15,836,823 | $187,831,684 |
Net realized gain | 71,063 | 184,700 |
Net change in unrealized appreciation (depreciation) | (1,313,703) | 2,130,229 |
Net increase in net assets resulting from operations | 14,594,183 | 190,146,613 |
Distributions to shareholders | ||
Net investment income and net realized gains | (16,026,322) | (187,881,641) |
Total distributions to shareholders | (16,026,322) | (187,881,641) |
Increase in net assets from capital stock activity | 5,869,292,213 | 484,685,717 |
Total increase in net assets | 5,867,860,074 | 486,950,689 |
Net assets at beginning of year | 14,286,657,559 | 13,799,706,870 |
Net assets at end of year | $20,154,517,633 | $14,286,657,559 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Subscriptions | 103,691,225,243 | 103,681,989,759 | 98,561,181,139 | 98,557,857,997 |
Redemptions | (97,821,378,824) | (97,812,697,546) | (98,075,438,473) | (98,073,172,280) |
Total net increase | 5,869,846,419 | 5,869,292,213 | 485,742,666 | 484,685,717 |
12 | Columbia Short-Term Cash Fund | Annual Report 2021 |
Year Ended July 31, | |||||
2021 | 2020 | 2019 | 2018 | 2017 | |
Per share data | |||||
Net asset value, beginning of period | $1.0000 | $0.9999 | $0.9999 | $1.0000 | $1.0000 |
Income from investment operations: | |||||
Net investment income | 0.0009 | 0.0132 | 0.0234 | 0.0152 | 0.0069 |
Net realized and unrealized gain (loss) | (0.0000)(a) | 0.0001 | 0.0001 | (0.0002) | (0.0001) |
Total from investment operations | 0.0009 | 0.0133 | 0.0235 | 0.0150 | 0.0068 |
Less distributions to shareholders from: | |||||
Net investment income | (0.0010) | (0.0132) | (0.0235) | (0.0151) | (0.0068) |
Total distributions to shareholders | (0.0010) | (0.0132) | (0.0235) | (0.0151) | (0.0068) |
Net asset value, end of period | $0.9999 | $1.0000 | $0.9999 | $0.9999 | $1.0000 |
Total return | 0.10% | 1.32% | 2.37% | 1.52% | 0.68% |
Ratios to average net assets | |||||
Total gross expenses | 0.01% | 0.00%(a) | 0.00%(a) | 0.00%(a) | 0.01% |
Total net expenses | 0.01% | 0.00%(a) | 0.00%(a) | 0.00%(a) | 0.01% |
Net investment income | 0.09% | 1.32% | 2.34% | 1.52% | 0.69% |
Supplemental data | |||||
Net assets, end of period (in thousands) | $20,154,518 | $14,286,658 | $13,799,707 | $14,040,107 | $13,366,141 |
Notes to Financial Highlights | |
(a) | Rounds to zero. |
Columbia Short-Term Cash Fund | Annual Report 2021 | 13 |
July 31, 2021
14 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Federal Reserve Bank ($) | RBC Dominion Securities ($) | TD Securities ($) | Total ($) | |
Assets | ||||
Repurchase agreements | 525,000,000 | 300,000,178 | 100,000,060 | 925,000,238 |
Total financial and derivative net assets | 525,000,000 | 300,000,178 | 100,000,060 | 925,000,238 |
Total collateral received (pledged) (a) | 525,000,000 | 300,000,178 | 100,000,060 | 925,000,238 |
Net amount (b) | - | - | - | - |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Short-Term Cash Fund | Annual Report 2021 | 15 |
July 31, 2021
16 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
154,403 | (154,403) | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
16,026,322 | — | 16,026,322 | 187,881,641 | — | 187,881,641 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
1,064,552 | — | — | (60,178) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
19,614,536,856 | 299,504 | (359,682) | (60,178) |
Columbia Short-Term Cash Fund | Annual Report 2021 | 17 |
July 31, 2021
18 | Columbia Short-Term Cash Fund | Annual Report 2021 |
July 31, 2021
Columbia Short-Term Cash Fund | Annual Report 2021 | 19 |
July 31, 2021
20 | Columbia Short-Term Cash Fund | Annual Report 2021 |
Columbia Short-Term Cash Fund | Annual Report 2021 | 21 |
Section 163(j) Interest Dividends | |
99.77% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
22 | Columbia Short-Term Cash Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Short-Term Cash Fund | Annual Report 2021 | 23 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
24 | Columbia Short-Term Cash Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Short-Term Cash Fund | Annual Report 2021 | 25 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
26 | Columbia Short-Term Cash Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Short-Term Cash Fund | Annual Report 2021 | 27 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
28 | Columbia Short-Term Cash Fund | Annual Report 2021 |
• | Information on the investment performance of the Fund; |
• | Information on the Fund’s management fees and total expenses; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Short-Term Cash Fund | Annual Report 2021 | 29 |
The Board specifically considered the many developments during recent years concerning the services provided by the Investment Manager. Among other things, the Board noted the organization and depth of the equity and credit research departments. The Board further observed the enhancements to the investment risk management department’s processes, systems and oversight, over the past several years, as well as planned 2021 initiatives in this regard. The Board also took into account the broad scope of services provided by the Investment Manager to the Fund, including, among other services, investment, risk and compliance oversight. The Board also took into account the information it received concerning the Investment Manager’s ability to attract and retain key portfolio management personnel and that it has sufficient resources to provide competitive and adequate compensation to investment personnel. The Board also observed that the Investment Manager has been able to effectively manage, operate and distribute the Funds through the COVID-19 pandemic period with no disruptions in services provided.
30 | Columbia Short-Term Cash Fund | Annual Report 2021 |
After reviewing these and related factors, the Board concluded, within the context of their overall conclusions, that the levels of management fees and expenses of the Fund, in light of other considerations, supported the continuation of the Management Agreement.
Columbia Short-Term Cash Fund | Annual Report 2021 | 31 |
July 31, 2021
3 | |
5 | |
7 | |
8 | |
12 | |
14 | |
15 | |
18 | |
22 | |
33 | |
34 | |
34 | |
40 | |
41 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 05/17/07 | 34.51 | 19.60 | 16.48 |
Including sales charges | 26.79 | 18.19 | 15.79 | ||
Advisor Class* | 06/01/15 | 34.98 | 19.91 | 16.67 | |
Class C | Excluding sales charges | 05/17/07 | 33.62 | 18.69 | 15.61 |
Including sales charges | 32.62 | 18.69 | 15.61 | ||
Institutional Class | 09/27/10 | 34.93 | 19.91 | 16.76 | |
Institutional 2 Class* | 11/08/12 | 35.00 | 19.99 | 16.86 | |
Institutional 3 Class* | 06/01/15 | 35.05 | 20.04 | 16.76 | |
Class R | 05/17/07 | 34.18 | 19.30 | 16.18 | |
Russell 1000 Growth Index | 36.68 | 23.32 | 18.37 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Disciplined Growth Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 99.0 |
Money Market Funds | 1.0 |
Total | 100.0 |
Equity sector breakdown (%) (at July 31, 2021) | |
Communication Services | 13.1 |
Consumer Discretionary | 17.8 |
Consumer Staples | 3.6 |
Energy | 0.1 |
Financials | 2.1 |
Health Care | 9.1 |
Industrials | 6.4 |
Information Technology | 44.9 |
Materials | 0.8 |
Real Estate | 2.1 |
Total | 100.0 |
Equity sub-industry breakdown (%) (at July 31, 2021) | |
Information Technology | |
Application Software | 7.1 |
Data Processing & Outsourced Services | 1.9 |
IT Consulting & Other Services | 3.9 |
Semiconductor Equipment | 1.9 |
Semiconductors | 4.7 |
Systems Software | 13.1 |
Technology Hardware, Storage & Peripherals | 12.3 |
Total | 44.9 |
4 | Columbia Disciplined Growth Fund | Annual Report 2021 |
• | The quality and catalyst themes of the stock selection model provided negative guidance during the period. Energy-equipment & services, consumer discretionary-auto & durables and information technology-hardware were the biggest detractors during the annual period. |
• | Relative to the benchmark, stock selection within the health care and consumer discretionary sectors detracted most from performance. |
Columbia Disciplined Growth Fund | Annual Report 2021 | 5 |
• | Having an underweight position in electric auto manufacturer Tesla detracted. The company’s stock soared during the period on ambitious production estimates, reports of positive earnings for a fourth consecutive quarter, its focus on using robotics to optimize its production process and widespread anticipation around its new cars. While all three of our stock selection themes – value, quality and catalyst – rated Tesla negatively, we chose to hold a modest portfolio position in its stock for risk control purposes. |
• | An underweight position in NVIDIA Corp. also detracted during the period. NVIDIA designs and develops three-dimensional graphics processors and related software. The company significantly outperformed the benchmark, driven by its exposure to cryptocurrency mining, which gained ground during the period. Strong data center demand and the global shortage of semiconductors also boosted the stock’s performance. The portfolio’s underweight in NVIDIA was established based on unattractive scores by all three of our themes (quality, value and catalyst), but the models provided negative guidance. |
• | Electronic Arts Inc., a U.S.-based gaming company, missed earnings guidance at year end due to adverse timing of product releases which contributed to the stock underperforming. With historically industry-competitive cash flow and shareholder value, the stock remains a strong-buy according to the quantitative model. In our view, the company has particularly attractive profitability, relative to its expenditures. We sold the Fund’s position in Electronic Arts, Inc. before the close of the reporting period. |
• | The stock selection model performed well overall during the period, driven by the strong positive guidance provided by the value themes. Of our 22 industry-specific models, 13 outperformed the benchmark, with materials, financials -lending and energy-exploration & production the biggest contributors. |
• | Relative to the benchmark, selections within the information technology helped most during the period. |
• | Alphabet, Inc. is the parent company of search engine giant Google. The portfolio owns Alphabet Class A shares only. Early in the period, Alphabet reported solid earnings results with robust growth seen across several of its businesses, including YouTube, search, cloud and advertising. We believe, Alphabet (Class A) is increasingly seen by investors as a core large-cap holding given the strong digital advertising backdrop, ongoing strength from cloud, more share repurchases (with its newly authorized $50 billion program) and a reasonable valuation. The portfolio’s overweight in Alphabet (Class A) was based on attractive scores by all three of our themes (value, quality and catalyst) and the models provided positive guidance. |
• | Fortinet, Inc., the leading mid-market vendor in the network security firewall market, gained when the company’s management reported strong results across its product offerings and geographies. Further, its billings and revenues accelerated in each of the last four quarters. The portfolio’s overweight in Fortinet was driven by our quality and catalyst themes, and the models delivered effective stock selection guidance. |
• | Etsy, Inc. operates an online marketplace offering handmade products such as shoes, clothing, bags, and accessories. Etsy benefitted significantly in 2020 due to the sales of custom facemasks needed in the pandemic. As economies re-opened and mask mandates began to drop, the company’s stock was pressured. Etsy is held in the portfolio given its attractive quality score. |
6 | Columbia Disciplined Growth Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
Account value at the beginning of the period ($) | 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 | 1,172.50 | 1,019.55 | 5.85 | 5.44 | 1.08 |
Advisor Class | 1,000.00 | 1,000.00 | 1,174.50 | 1,020.79 | 4.50 | 4.18 | 0.83 |
Class C | 1,000.00 | 1,000.00 | 1,169.40 | 1,015.81 | 9.90 | 9.20 | 1.83 |
Institutional Class | 1,000.00 | 1,000.00 | 1,174.80 | 1,020.79 | 4.50 | 4.18 | 0.83 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,175.20 | 1,020.89 | 4.39 | 4.08 | 0.81 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,175.50 | 1,021.19 | 4.07 | 3.78 | 0.75 |
Class R | 1,000.00 | 1,000.00 | 1,171.80 | 1,018.30 | 7.20 | 6.69 | 1.33 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 99.0% | ||
Issuer | Shares | Value ($) |
Communication Services 12.9% | ||
Entertainment 1.2% | ||
Roku, Inc.(a) | 7,906 | 3,386,219 |
Take-Two Interactive Software, Inc.(a) | 1,667 | 289,091 |
Total | 3,675,310 | |
Interactive Media & Services 10.1% | ||
Alphabet, Inc., Class A(a) | 5,885 | 15,857,309 |
Facebook, Inc., Class A(a) | 43,125 | 15,365,438 |
Pinterest, Inc., Class A(a) | 7,700 | 453,530 |
Total | 31,676,277 | |
Media 1.6% | ||
Charter Communications, Inc., Class A(a) | 2,650 | 1,971,732 |
Nexstar Media Group, Inc., Class A | 20,197 | 2,970,373 |
Total | 4,942,105 | |
Total Communication Services | 40,293,692 | |
Consumer Discretionary 17.6% | ||
Automobiles 1.3% | ||
Tesla Motors, Inc.(a) | 6,113 | 4,200,854 |
Diversified Consumer Services 0.1% | ||
H&R Block, Inc. | 13,839 | 339,747 |
Hotels, Restaurants & Leisure 2.9% | ||
Boyd Gaming Corp.(a) | 59,514 | 3,392,298 |
Darden Restaurants, Inc. | 32,000 | 4,668,160 |
Travel + Leisure Co. | 19,770 | 1,024,086 |
Total | 9,084,544 | |
Household Durables 1.2% | ||
PulteGroup, Inc. | 50,492 | 2,770,496 |
Tempur Sealy International, Inc. | 19,706 | 852,679 |
Total | 3,623,175 | |
Internet & Direct Marketing Retail 6.1% | ||
Amazon.com, Inc.(a) | 4,125 | 13,726,309 |
Etsy, Inc.(a) | 18,758 | 3,442,281 |
Wayfair, Inc., Class A(a) | 7,451 | 1,798,373 |
Total | 18,966,963 | |
Multiline Retail 0.2% | ||
Target Corp. | 1,800 | 469,890 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Specialty Retail 5.8% | ||
Home Depot, Inc. (The) | 2,010 | 659,662 |
L Brands, Inc. | 47,060 | 3,768,094 |
Lowe’s Companies, Inc. | 30,775 | 5,930,035 |
Ross Stores, Inc. | 33,432 | 4,101,772 |
TJX Companies, Inc. (The) | 7,300 | 502,313 |
Williams-Sonoma, Inc. | 20,589 | 3,123,351 |
Total | 18,085,227 | |
Total Consumer Discretionary | 54,770,400 | |
Consumer Staples 3.6% | ||
Beverages 0.4% | ||
Coca-Cola Co. (The) | 20,700 | 1,180,521 |
Food & Staples Retailing 0.8% | ||
Costco Wholesale Corp. | 5,575 | 2,395,689 |
Personal Products 0.6% | ||
Herbalife Nutrition Ltd.(a) | 40,546 | 2,065,413 |
Tobacco 1.8% | ||
Altria Group, Inc. | 116,593 | 5,601,128 |
Total Consumer Staples | 11,242,751 | |
Energy 0.1% | ||
Oil, Gas & Consumable Fuels 0.1% | ||
EOG Resources, Inc. | 3,432 | 250,056 |
Total Energy | 250,056 | |
Financials 2.1% | ||
Banks 0.3% | ||
Citizens Financial Group, Inc. | 16,471 | 694,417 |
Capital Markets 1.8% | ||
T. Rowe Price Group, Inc. | 27,797 | 5,675,036 |
Total Financials | 6,369,453 | |
Health Care 9.0% | ||
Biotechnology 2.9% | ||
AbbVie, Inc. | 31,484 | 3,661,589 |
ACADIA Pharmaceuticals, Inc.(a) | 13,059 | 282,466 |
BioMarin Pharmaceutical, Inc.(a) | 12,364 | 948,690 |
Exact Sciences Corp.(a) | 4,975 | 536,504 |
8 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Iovance Biotherapeutics, Inc.(a) | 8,199 | 182,592 |
Mirati Therapeutics, Inc.(a) | 2,745 | 439,365 |
Novavax, Inc.(a) | 1,511 | 270,968 |
Regeneron Pharmaceuticals, Inc.(a) | 1,054 | 605,639 |
Sage Therapeutics, Inc.(a) | 7,947 | 347,522 |
Vertex Pharmaceuticals, Inc.(a) | 8,561 | 1,725,726 |
Total | 9,001,061 | |
Health Care Equipment & Supplies 2.2% | ||
Abbott Laboratories | 52,189 | 6,313,825 |
Hill-Rom Holdings, Inc. | 5,269 | 729,546 |
Total | 7,043,371 | |
Health Care Providers & Services 0.5% | ||
HCA Healthcare, Inc. | 1,550 | 384,710 |
Molina Healthcare, Inc.(a) | 3,997 | 1,091,221 |
Total | 1,475,931 | |
Life Sciences Tools & Services 3.4% | ||
Agilent Technologies, Inc. | 10,400 | 1,593,592 |
Avantor, Inc.(a) | 103,558 | 3,891,709 |
IQVIA Holdings, Inc.(a) | 20,491 | 5,075,621 |
Total | 10,560,922 | |
Total Health Care | 28,081,285 | |
Industrials 6.4% | ||
Aerospace & Defense 0.3% | ||
Lockheed Martin Corp. | 2,205 | 819,532 |
Air Freight & Logistics 1.0% | ||
United Parcel Service, Inc., Class B | 16,685 | 3,192,842 |
Industrial Conglomerates 0.4% | ||
3M Co. | 5,891 | 1,166,064 |
Machinery 3.1% | ||
Deere & Co. | 4,200 | 1,518,678 |
Parker-Hannifin Corp. | 15,882 | 4,955,661 |
Toro Co. (The) | 26,961 | 3,066,544 |
Total | 9,540,883 | |
Professional Services 1.2% | ||
Booz Allen Hamilton Holdings Corp. | 16,917 | 1,451,648 |
Robert Half International, Inc. | 23,203 | 2,278,766 |
Total | 3,730,414 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Road & Rail 0.4% | ||
Old Dominion Freight Line, Inc. | 5,300 | 1,426,495 |
Total Industrials | 19,876,230 | |
Information Technology 44.5% | ||
IT Services 5.8% | ||
Accenture PLC, Class A | 25,196 | 8,004,265 |
Gartner, Inc.(a) | 15,391 | 4,074,460 |
MasterCard, Inc., Class A | 10,493 | 4,049,669 |
PayPal Holdings, Inc.(a) | 3,912 | 1,077,873 |
Visa, Inc., Class A | 3,278 | 807,666 |
Total | 18,013,933 | |
Semiconductors & Semiconductor Equipment 6.6% | ||
Advanced Micro Devices, Inc.(a) | 74,610 | 7,922,836 |
Broadcom, Inc. | 6,955 | 3,375,957 |
Lam Research Corp. | 9,216 | 5,874,370 |
NVIDIA Corp. | 13,908 | 2,711,921 |
QUALCOMM, Inc. | 3,726 | 558,155 |
Total | 20,443,239 | |
Software 20.0% | ||
Adobe, Inc.(a) | 15,906 | 9,887,647 |
Autodesk, Inc.(a) | 18,424 | 5,916,499 |
Cadence Design Systems, Inc.(a) | 21,648 | 3,196,327 |
Fortinet, Inc.(a) | 23,800 | 6,479,312 |
Microsoft Corp. | 119,266 | 33,980,076 |
Zoom Video Communications, Inc., Class A(a) | 7,481 | 2,828,566 |
Total | 62,288,427 | |
Technology Hardware, Storage & Peripherals 12.1% | ||
Apple, Inc.(b) | 259,047 | 37,784,596 |
Total Information Technology | 138,530,195 | |
Materials 0.8% | ||
Paper & Forest Products 0.8% | ||
Louisiana-Pacific Corp. | 44,976 | 2,493,469 |
Total Materials | 2,493,469 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 9 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate 2.0% | ||
Equity Real Estate Investment Trusts (REITS) 2.0% | ||
Public Storage | 5,294 | 1,654,269 |
Simon Property Group, Inc. | 37,171 | 4,702,875 |
Total | 6,357,144 | |
Total Real Estate | 6,357,144 | |
Total Common Stocks (Cost $172,132,761) | 308,264,675 | |
Money Market Funds 1.1% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(c),(d) | 3,202,030 | 3,201,710 |
Total Money Market Funds (Cost $3,201,646) | 3,201,710 | |
Total Investments in Securities (Cost: $175,334,407) | 311,466,385 | |
Other Assets & Liabilities, Net | (174,909) | |
Net Assets | 311,291,476 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 17 | 09/2021 | USD | 3,731,075 | 72,228 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
3,203,526 | 61,684,118 | (61,685,544) | (390) | 3,201,710 | (549) | 4,423 | 3,202,030 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
10 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Inputs that are used in determining fair value of an investment may include price information, credit data, volatility statistics, and other factors. These inputs can be either observable or unobservable. The availability of observable inputs can vary between investments, and is affected by various factors such as the type of investment, and the volume and level of activity for that investment or similar investments in the marketplace. The inputs will be considered by the Investment Manager, along with any other relevant factors in the calculation of an investment’s fair value. The Fund uses prices and inputs that are current as of the measurement date, which may include periods of market dislocations. During these periods, the availability of prices and inputs may be reduced for many investments. This condition could cause an investment to be reclassified between the various levels within the hierarchy.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 40,293,692 | — | — | 40,293,692 |
Consumer Discretionary | 54,770,400 | — | — | 54,770,400 |
Consumer Staples | 11,242,751 | — | — | 11,242,751 |
Energy | 250,056 | — | — | 250,056 |
Financials | 6,369,453 | — | — | 6,369,453 |
Health Care | 28,081,285 | — | — | 28,081,285 |
Industrials | 19,876,230 | — | — | 19,876,230 |
Information Technology | 138,530,195 | — | — | 138,530,195 |
Materials | 2,493,469 | — | — | 2,493,469 |
Real Estate | 6,357,144 | — | — | 6,357,144 |
Total Common Stocks | 308,264,675 | — | — | 308,264,675 |
Money Market Funds | 3,201,710 | — | — | 3,201,710 |
Total Investments in Securities | 311,466,385 | — | — | 311,466,385 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 72,228 | — | — | 72,228 |
Total | 311,538,613 | — | — | 311,538,613 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 11 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $172,132,761) | $308,264,675 |
Affiliated issuers (cost $3,201,646) | 3,201,710 |
Receivable for: | |
Capital shares sold | 49,917 |
Dividends | 135,165 |
Foreign tax reclaims | 5,543 |
Expense reimbursement due from Investment Manager | 439 |
Prepaid expenses | 10,328 |
Total assets | 311,667,777 |
Liabilities | |
Payable for: | |
Capital shares purchased | 214,838 |
Variation margin for futures contracts | 18,955 |
Management services fees | 6,448 |
Distribution and/or service fees | 1,628 |
Transfer agent fees | 20,449 |
Compensation of board members | 90,898 |
Other expenses | 23,085 |
Total liabilities | 376,301 |
Net assets applicable to outstanding capital stock | $311,291,476 |
Represented by | |
Paid in capital | 127,725,305 |
Total distributable earnings (loss) | 183,566,171 |
Total - representing net assets applicable to outstanding capital stock | $311,291,476 |
12 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Class A | |
Net assets | $168,331,052 |
Shares outstanding | 13,684,705 |
Net asset value per share | $12.30 |
Maximum sales charge | 5.75% |
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) | $13.05 |
Advisor Class | |
Net assets | $8,950,829 |
Shares outstanding | 719,115 |
Net asset value per share | $12.45 |
Class C | |
Net assets | $16,556,686 |
Shares outstanding | 1,462,712 |
Net asset value per share | $11.32 |
Institutional Class | |
Net assets | $59,164,274 |
Shares outstanding | 4,732,594 |
Net asset value per share | $12.50 |
Institutional 2 Class | |
Net assets | $4,879,392 |
Shares outstanding | 373,182 |
Net asset value per share | $13.08 |
Institutional 3 Class | |
Net assets | $52,815,688 |
Shares outstanding | 4,172,234 |
Net asset value per share | $12.66 |
Class R | |
Net assets | $593,555 |
Shares outstanding | 48,612 |
Net asset value per share | $12.21 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 13 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $3,477,413 |
Dividends — affiliated issuers | 4,423 |
Total income | 3,481,836 |
Expenses: | |
Management services fees | 2,612,749 |
Distribution and/or service fees | |
Class A | 369,420 |
Class C | 161,624 |
Class R | 3,306 |
Transfer agent fees | |
Class A | 141,501 |
Advisor Class | 8,701 |
Class C | 15,597 |
Institutional Class | 59,557 |
Institutional 2 Class | 3,290 |
Institutional 3 Class | 7,130 |
Class R | 633 |
Compensation of board members | 43,000 |
Custodian fees | 8,285 |
Printing and postage fees | 21,466 |
Registration fees | 108,859 |
Audit fees | 32,250 |
Legal fees | 11,908 |
Interest on collateral | 120 |
Compensation of chief compliance officer | 68 |
Other | 22,668 |
Total expenses | 3,632,132 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (214,530) |
Expense reduction | (40) |
Total net expenses | 3,417,562 |
Net investment income | 64,274 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 149,901,116 |
Investments — affiliated issuers | (549) |
Futures contracts | 1,616,882 |
Net realized gain | 151,517,449 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (48,541,480) |
Investments — affiliated issuers | (390) |
Futures contracts | (193,205) |
Net change in unrealized appreciation (depreciation) | (48,735,075) |
Net realized and unrealized gain | 102,782,374 |
Net increase in net assets resulting from operations | $102,846,648 |
14 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $64,274 | $1,682,683 |
Net realized gain | 151,517,449 | 47,427,644 |
Net change in unrealized appreciation (depreciation) | (48,735,075) | 38,164,857 |
Net increase in net assets resulting from operations | 102,846,648 | 87,275,184 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (16,517,358) | (9,893,897) |
Advisor Class | (1,028,094) | (691,019) |
Class C | (2,060,343) | (1,314,910) |
Institutional Class | (7,085,213) | (6,033,624) |
Institutional 2 Class | (539,585) | (823,031) |
Institutional 3 Class | (24,925,382) | (17,471,258) |
Class R | (76,082) | (66,973) |
Total distributions to shareholders | (52,232,057) | (36,294,712) |
Decrease in net assets from capital stock activity | (176,517,894) | (81,559,797) |
Total decrease in net assets | (125,903,303) | (30,579,325) |
Net assets at beginning of year | 437,194,779 | 467,774,104 |
Net assets at end of year | $311,291,476 | $437,194,779 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 15 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,624,480 | 18,112,082 | 1,184,227 | 10,719,926 |
Distributions reinvested | 1,599,948 | 16,095,471 | 1,086,297 | 9,668,040 |
Redemptions | (2,611,725) | (28,659,234) | (3,238,323) | (28,888,071) |
Net increase (decrease) | 612,703 | 5,548,319 | (967,799) | (8,500,105) |
Advisor Class | ||||
Subscriptions | 38,245 | 428,240 | 63,891 | 574,683 |
Distributions reinvested | 100,530 | 1,021,384 | 76,587 | 686,989 |
Redemptions | (204,702) | (2,415,877) | (264,014) | (2,434,276) |
Net decrease | (65,927) | (966,253) | (123,536) | (1,172,604) |
Class C | ||||
Subscriptions | 137,559 | 1,392,288 | 246,380 | 2,065,875 |
Distributions reinvested | 210,627 | 1,958,831 | 144,373 | 1,208,402 |
Redemptions | (535,675) | (5,403,513) | (802,991) | (6,790,246) |
Net decrease | (187,489) | (2,052,394) | (412,238) | (3,515,969) |
Institutional Class | ||||
Subscriptions | 755,754 | 8,351,219 | 1,225,023 | 11,184,545 |
Distributions reinvested | 556,620 | 5,683,090 | 568,461 | 5,121,835 |
Redemptions | (2,881,823) | (32,220,931) | (4,739,710) | (42,824,514) |
Net decrease | (1,569,449) | (18,186,622) | (2,946,226) | (26,518,134) |
Institutional 2 Class | ||||
Subscriptions | 62,573 | 726,818 | 208,024 | 1,984,128 |
Distributions reinvested | 50,570 | 539,585 | 87,813 | 822,806 |
Redemptions | (162,558) | (1,898,715) | (927,276) | (9,105,514) |
Net decrease | (49,415) | (632,312) | (631,439) | (6,298,580) |
Institutional 3 Class | ||||
Subscriptions | 603,259 | 6,776,431 | 3,558,111 | 32,499,067 |
Distributions reinvested | 2,412,568 | 24,921,832 | 1,917,600 | 17,469,332 |
Redemptions | (18,326,440) | (191,746,196) | (8,590,315) | (84,886,138) |
Net decrease | (15,310,613) | (160,047,933) | (3,114,604) | (34,917,739) |
Class R | ||||
Subscriptions | 3,820 | 41,350 | 24,908 | 216,844 |
Distributions reinvested | 7,566 | 75,662 | 5,879 | 52,383 |
Redemptions | (25,711) | (297,711) | (97,393) | (905,893) |
Net decrease | (14,325) | (180,699) | (66,606) | (636,666) |
Total net decrease | (16,584,515) | (176,517,894) | (8,262,448) | (81,559,797) |
16 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $10.34 | (0.01) | 3.29 | 3.28 | (0.00)(c) | (1.32) | (1.32) |
Year Ended 7/31/2020 | $9.24 | 0.01 | 1.83 | 1.84 | (0.04) | (0.70) | (0.74) |
Year Ended 7/31/2019 | $10.11 | 0.03 | 0.31 | 0.34 | — | (1.21) | (1.21) |
Year Ended 7/31/2018 | $9.50 | 0.01 | 1.85 | 1.86 | (0.03) | (1.22) | (1.25) |
Year Ended 7/31/2017 | $8.51 | 0.04 | 1.45 | 1.49 | (0.04) | (0.46) | (0.50) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $10.44 | 0.02 | 3.33 | 3.35 | (0.02) | (1.32) | (1.34) |
Year Ended 7/31/2020 | $9.32 | 0.04 | 1.84 | 1.88 | (0.06) | (0.70) | (0.76) |
Year Ended 7/31/2019 | $10.18 | 0.06 | 0.30 | 0.36 | (0.01) | (1.21) | (1.22) |
Year Ended 7/31/2018 | $9.56 | 0.03 | 1.87 | 1.90 | (0.06) | (1.22) | (1.28) |
Year Ended 7/31/2017 | $8.56 | 0.05 | 1.47 | 1.52 | (0.06) | (0.46) | (0.52) |
Class C | |||||||
Year Ended 7/31/2021 | $9.67 | (0.09) | 3.06 | 2.97 | — | (1.32) | (1.32) |
Year Ended 7/31/2020 | $8.71 | (0.05) | 1.71 | 1.66 | — | (0.70) | (0.70) |
Year Ended 7/31/2019 | $9.67 | (0.03) | 0.28 | 0.25 | — | (1.21) | (1.21) |
Year Ended 7/31/2018 | $9.18 | (0.06) | 1.77 | 1.71 | — | (1.22) | (1.22) |
Year Ended 7/31/2017 | $8.26 | (0.03) | 1.41 | 1.38 | — | (0.46) | (0.46) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $10.48 | 0.02 | 3.34 | 3.36 | (0.02) | (1.32) | (1.34) |
Year Ended 7/31/2020 | $9.36 | 0.04 | 1.84 | 1.88 | (0.06) | (0.70) | (0.76) |
Year Ended 7/31/2019 | $10.21 | 0.06 | 0.31 | 0.37 | (0.01) | (1.21) | (1.22) |
Year Ended 7/31/2018 | $9.59 | 0.04 | 1.86 | 1.90 | (0.06) | (1.22) | (1.28) |
Year Ended 7/31/2017 | $8.58 | 0.05 | 1.48 | 1.53 | (0.06) | (0.46) | (0.52) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $10.91 | 0.02 | 3.50 | 3.52 | (0.03) | (1.32) | (1.35) |
Year Ended 7/31/2020 | $9.71 | 0.05 | 1.92 | 1.97 | (0.07) | (0.70) | (0.77) |
Year Ended 7/31/2019 | $10.55 | 0.07 | 0.32 | 0.39 | (0.02) | (1.21) | (1.23) |
Year Ended 7/31/2018 | $9.87 | 0.04 | 1.92 | 1.96 | (0.06) | (1.22) | (1.28) |
Year Ended 7/31/2017 | $8.82 | 0.06 | 1.52 | 1.58 | (0.07) | (0.46) | (0.53) |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $10.60 | 0.02 | 3.39 | 3.41 | (0.03) | (1.32) | (1.35) |
Year Ended 7/31/2020 | $9.46 | 0.05 | 1.86 | 1.91 | (0.07) | (0.70) | (0.77) |
Year Ended 7/31/2019 | $10.31 | 0.07 | 0.31 | 0.38 | (0.02) | (1.21) | (1.23) |
Year Ended 7/31/2018 | $9.67 | 0.05 | 1.88 | 1.93 | (0.07) | (1.22) | (1.29) |
Year Ended 7/31/2017 | $8.65 | 0.06 | 1.50 | 1.56 | (0.08) | (0.46) | (0.54) |
18 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $12.30 | 34.51% | 1.17%(d) | 1.10%(d),(e) | (0.09%) | 87% | $168,331 |
Year Ended 7/31/2020 | $10.34 | 21.22% | 1.17% | 1.16% | 0.16% | 78% | $135,119 |
Year Ended 7/31/2019 | $9.24 | 4.98% | 1.17% | 1.17% | 0.37% | 78% | $129,678 |
Year Ended 7/31/2018 | $10.11 | 20.79% | 1.17% | 1.17%(e) | 0.12% | 82% | $130,693 |
Year Ended 7/31/2017 | $9.50 | 18.37% | 1.22% | 1.20%(e) | 0.43% | 81% | $114,369 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $12.45 | 34.98% | 0.92%(d) | 0.85%(d),(e) | 0.16% | 87% | $8,951 |
Year Ended 7/31/2020 | $10.44 | 21.56% | 0.92% | 0.91% | 0.41% | 78% | $8,198 |
Year Ended 7/31/2019 | $9.32 | 5.17% | 0.92% | 0.92% | 0.62% | 78% | $8,471 |
Year Ended 7/31/2018 | $10.18 | 21.06% | 0.92% | 0.92%(e) | 0.34% | 82% | $7,947 |
Year Ended 7/31/2017 | $9.56 | 18.68% | 0.95% | 0.94%(e) | 0.58% | 81% | $4,213 |
Class C | |||||||
Year Ended 7/31/2021 | $11.32 | 33.62% | 1.92%(d) | 1.85%(d),(e) | (0.84%) | 87% | $16,557 |
Year Ended 7/31/2020 | $9.67 | 20.29% | 1.92% | 1.91% | (0.59%) | 78% | $15,962 |
Year Ended 7/31/2019 | $8.71 | 4.19% | 1.92% | 1.92% | (0.38%) | 78% | $17,964 |
Year Ended 7/31/2018 | $9.67 | 19.77% | 1.92% | 1.92%(e) | (0.62%) | 82% | $21,203 |
Year Ended 7/31/2017 | $9.18 | 17.44% | 1.96% | 1.95%(e) | (0.35%) | 81% | $23,034 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $12.50 | 34.93% | 0.92%(d) | 0.85%(d),(e) | 0.16% | 87% | $59,164 |
Year Ended 7/31/2020 | $10.48 | 21.46% | 0.92% | 0.91% | 0.42% | 78% | $66,065 |
Year Ended 7/31/2019 | $9.36 | 5.26% | 0.92% | 0.92% | 0.61% | 78% | $86,537 |
Year Ended 7/31/2018 | $10.21 | 20.99% | 0.92% | 0.92%(e) | 0.37% | 82% | $123,250 |
Year Ended 7/31/2017 | $9.59 | 18.76% | 0.95% | 0.94%(e) | 0.56% | 81% | $109,911 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $13.08 | 35.00% | 0.89%(d) | 0.82%(d) | 0.18% | 87% | $4,879 |
Year Ended 7/31/2020 | $10.91 | 21.59% | 0.86% | 0.85% | 0.51% | 78% | $4,611 |
Year Ended 7/31/2019 | $9.71 | 5.27% | 0.86% | 0.85% | 0.70% | 78% | $10,235 |
Year Ended 7/31/2018 | $10.55 | 21.10% | 0.87% | 0.85% | 0.38% | 82% | $12,184 |
Year Ended 7/31/2017 | $9.87 | 18.83% | 0.87% | 0.85% | 0.69% | 81% | $4,895 |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $12.66 | 35.05% | 0.82%(d) | 0.77%(d) | 0.20% | 87% | $52,816 |
Year Ended 7/31/2020 | $10.60 | 21.58% | 0.81% | 0.79% | 0.53% | 78% | $206,590 |
Year Ended 7/31/2019 | $9.46 | 5.35% | 0.80% | 0.80% | 0.75% | 78% | $213,693 |
Year Ended 7/31/2018 | $10.31 | 21.17% | 0.81% | 0.80% | 0.49% | 82% | $266,180 |
Year Ended 7/31/2017 | $9.67 | 18.91% | 0.81% | 0.81% | 0.62% | 81% | $242,867 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R | |||||||
Year Ended 7/31/2021 | $10.34 | (0.04) | 3.27 | 3.23 | (0.04) | (1.32) | (1.36) |
Year Ended 7/31/2020 | $9.24 | (0.01) | 1.83 | 1.82 | (0.02) | (0.70) | (0.72) |
Year Ended 7/31/2019 | $10.13 | 0.01 | 0.31 | 0.32 | — | (1.21) | (1.21) |
Year Ended 7/31/2018 | $9.53 | (0.01) | 1.84 | 1.83 | (0.01) | (1.22) | (1.23) |
Year Ended 7/31/2017 | $8.53 | 0.01 | 1.47 | 1.48 | (0.02) | (0.46) | (0.48) |
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) | Rounds to zero. |
(d) | Ratios include interest on collateral expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
20 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class R | |||||||
Year Ended 7/31/2021 | $12.21 | 34.18% | 1.42%(d) | 1.35%(d),(e) | (0.34%) | 87% | $594 |
Year Ended 7/31/2020 | $10.34 | 20.93% | 1.42% | 1.41% | (0.07%) | 78% | $651 |
Year Ended 7/31/2019 | $9.24 | 4.74% | 1.42% | 1.42% | 0.12% | 78% | $1,197 |
Year Ended 7/31/2018 | $10.13 | 20.32% | 1.42% | 1.42%(e) | (0.13%) | 82% | $1,352 |
Year Ended 7/31/2017 | $9.53 | 18.18% | 1.46% | 1.44%(e) | 0.11% | 81% | $1,063 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 21 |
July 31, 2021
22 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Growth Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 72,228* |
* | 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 ($) |
Equity risk | 1,616,882 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (193,205) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 3,830,841 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Disciplined Growth Fund | Annual Report 2021 | 25 |
July 31, 2021
26 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.07 |
Institutional 3 Class | 0.01 |
Class R | 0.10 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 27 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 103,088 |
Class C | — | 1.00(b) | 590 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.10% | 1.16% |
Advisor Class | 0.85 | 0.91 |
Class C | 1.85 | 1.91 |
Institutional Class | 0.85 | 0.91 |
Institutional 2 Class | 0.81 | 0.85 |
Institutional 3 Class | 0.75 | 0.79 |
Class R | 1.35 | 1.41 |
28 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
9,625 | (77,130,446) | 77,120,821 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
5,882,939 | 46,349,118 | 52,232,057 | 2,936,014 | 33,358,698 | 36,294,712 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
21,145,427 | 26,873,142 | — | 135,637,431 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
175,901,182 | 138,002,658 | (2,365,227) | 135,637,431 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 29 |
July 31, 2021
30 | Columbia Disciplined Growth Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Growth Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Columbia Disciplined Growth Fund | Annual Report 2021 | 33 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
22.21% | 22.08% | 1.08% | $53,646,387 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
34 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Disciplined Growth Fund | Annual Report 2021 | 35 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
36 | Columbia Disciplined Growth Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Disciplined Growth Fund | Annual Report 2021 | 37 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
38 | Columbia Disciplined Growth Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Disciplined Growth Fund | Annual Report 2021 | 39 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
40 | Columbia Disciplined Growth Fund | Annual Report 2021 |
● | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
● | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
● | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
● | Terms of the Management Agreement; |
● | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
● | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
● | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
● | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
● | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
● | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
● | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Disciplined Growth Fund | Annual Report 2021 | 41 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
42 | Columbia Disciplined Growth Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Disciplined Growth Fund | Annual Report 2021 | 43 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
44 | Columbia Disciplined Growth Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
13 | |
15 | |
16 | |
18 | |
22 | |
34 | |
35 | |
35 | |
41 | |
42 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 08/01/08 | 40.74 | 10.85 | 11.57 |
Including sales charges | 32.70 | 9.54 | 10.91 | ||
Advisor Class* | 06/01/15 | 41.09 | 11.12 | 11.74 | |
Class C | Excluding sales charges | 08/01/08 | 39.78 | 10.02 | 10.74 |
Including sales charges | 38.78 | 10.02 | 10.74 | ||
Institutional Class | 09/27/10 | 41.04 | 11.11 | 11.85 | |
Institutional 2 Class* | 06/01/15 | 41.32 | 11.26 | 11.82 | |
Institutional 3 Class* | 06/01/15 | 41.28 | 11.32 | 11.85 | |
Class R | 08/01/08 | 40.32 | 10.56 | 11.29 | |
Class V | Excluding sales charges | 03/07/11 | 40.72 | 10.86 | 11.55 |
Including sales charges | 32.66 | 9.55 | 10.89 | ||
Russell 1000 Value Index | 39.32 | 11.41 | 12.08 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Disciplined Value Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 99.4 |
Money Market Funds | 0.6 |
Total | 100.0 |
Equity sector breakdown (%) (at July 31, 2021) | |
Communication Services | 8.7 |
Consumer Discretionary | 5.9 |
Consumer Staples | 7.0 |
Energy | 4.5 |
Financials | 20.2 |
Health Care | 17.9 |
Industrials | 12.2 |
Information Technology | 10.4 |
Materials | 4.1 |
Real Estate | 4.4 |
Utilities | 4.7 |
Total | 100.0 |
4 | Columbia Disciplined Value Fund | Annual Report 2021 |
• | The stock selection model performed well overall during the period, driven by the strong positive guidance provided by the value themes. Of our 22 industry-specific models, 13 outperformed the benchmark, with materials, financials -lending and energy-exploration & production the biggest contributors. |
• | Relative to the benchmark, selections within the financials, industrials and materials sectors, helped most. |
• | Travel + Leisure Co., which is the world’s leading membership and leisure travel company, with a portfolio of resorts, travel clubs and lifestyle travel brands. Its shares rallied strongly as the company saw an uptick in reservations for the |
Columbia Disciplined Value Fund | Annual Report 2021 | 5 |
second half of 2021 at a rate approaching pre-pandemic levels amid the reopening of the economy and pent-up demand for travel. The portfolio’s overweight in Travel + Leisure was driven by attractive metrics in all three components of our stock selection model – value, quality and catalyst, which proved effective. | |
• | Morgan Stanley delivered strong performance during the period, contributing to Fund results. Strong equity markets boosted revenue in the company’s Wealth Management division and Capital Markets division, which benefited from increased trading activity. The portfolio’s overweight in Morgan Stanley was the result of the company’s attractive quality and catalyst themes in our stock selection model, which proved effective during the period. |
• | Target Corporation, a general merchandise discount retailer, experienced a double-digit share price gain during the third quarter of 2020, similarly benefiting from the COVID-19 pandemic-driven environment, wherein demand for discount retail and online shopping increased significantly. The portfolio’s overweight in Target was based on all three of our stock selection themes —value, quality and catalyst, which delivered effective guidance. |
• | The quality and catalyst themes of the stock selection model provided negative guidance during the period. Energy-equipment & services, consumer discretionary-auto & durables and information technology-hardware were the biggest detractors during the annual period. |
• | Relative to the benchmark, stock selection within the real estate, communication services and consumer staples sectors detracted most from performance. |
• | Kimberly-Clark Corp., a U.S.-based global health and hygiene-focused consumer staples company experienced a share price decline based on third-quarter 2020 earnings report that showed lower margins as well as forward guidance that missed consensus expectations. The portfolio’s overweight in Kimberly-Clark was established based on our quality and value themes, but the models delivered negative guidance. |
• | Electronic Arts Inc., a U.S.-based gaming company, missed earnings guidance at year end due to adverse timing of product releases which contributed to the stock underperforming. With continuously industry-competitive cash flow and shareholder value, the stock remains a strong-buy according to the quantitative model. In our view, the company had particularly attractive profitability, relative to its expenditures. |
• | Merck & Co., Inc., a pharmaceuticals company, saw its shares decline in the second half of the period. Despite being well-positioned to provide shareholder value and a history of producing stable cash flows relative to its capital structure and peers, investors viewed the pandemic as having drastically changed the vaccine industry, once dominated by the likes of Merck. The company may be challenged as the pandemic created an entry point for upstarts which haven’t had to hire sales forces given government help with distribution. The company scored well in our value and catalyst themes. |
6 | Columbia Disciplined Value Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,211.90 | 1,019.55 | 5.96 | 5.44 | 1.08 |
Advisor Class | 1,000.00 | 1,000.00 | 1,212.80 | 1,020.79 | 4.58 | 4.18 | 0.83 |
Class C | 1,000.00 | 1,000.00 | 1,208.00 | 1,015.81 | 10.07 | 9.20 | 1.83 |
Institutional Class | 1,000.00 | 1,000.00 | 1,213.90 | 1,020.79 | 4.58 | 4.18 | 0.83 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,214.40 | 1,021.49 | 3.81 | 3.48 | 0.69 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,213.90 | 1,021.74 | 3.53 | 3.23 | 0.64 |
Class R | 1,000.00 | 1,000.00 | 1,210.10 | 1,018.30 | 7.33 | 6.69 | 1.33 |
Class V | 1,000.00 | 1,000.00 | 1,212.60 | 1,019.55 | 5.96 | 5.44 | 1.08 |
Columbia Disciplined Value Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 99.4% | ||
Issuer | Shares | Value ($) |
Communication Services 8.7% | ||
Diversified Telecommunication Services 2.3% | ||
Verizon Communications, Inc. | 88,200 | 4,919,796 |
Entertainment 1.4% | ||
Activision Blizzard, Inc. | 29,056 | 2,429,663 |
Walt Disney Co. (The)(a) | 3,150 | 554,463 |
Total | 2,984,126 | |
Interactive Media & Services 3.0% | ||
Alphabet, Inc., Class A(a) | 2,396 | 6,456,094 |
Media 2.0% | ||
Interpublic Group of Companies, Inc. (The) | 98,310 | 3,476,242 |
Nexstar Media Group, Inc., Class A | 5,550 | 816,238 |
Total | 4,292,480 | |
Total Communication Services | 18,652,496 | |
Consumer Discretionary 5.9% | ||
Hotels, Restaurants & Leisure 1.4% | ||
Royal Caribbean Cruises Ltd.(a) | 3,300 | 253,671 |
Travel + Leisure Co. | 51,568 | 2,671,222 |
Total | 2,924,893 | |
Household Durables 1.3% | ||
Lennar Corp., Class A | 7,962 | 837,204 |
PulteGroup, Inc. | 35,404 | 1,942,618 |
Total | 2,779,822 | |
Multiline Retail 1.7% | ||
Target Corp. | 14,351 | 3,746,329 |
Specialty Retail 1.5% | ||
AutoNation, Inc.(a) | 23,100 | 2,802,723 |
Dick’s Sporting Goods, Inc. | 3,400 | 354,076 |
Total | 3,156,799 | |
Total Consumer Discretionary | 12,607,843 | |
Consumer Staples 6.9% | ||
Beverages 0.6% | ||
Coca-Cola Co. (The) | 21,800 | 1,243,254 |
Food & Staples Retailing 0.2% | ||
Walmart, Inc. | 3,468 | 494,363 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Household Products 3.0% | ||
Colgate-Palmolive Co. | 11,280 | 896,760 |
Kimberly-Clark Corp. | 2,189 | 297,091 |
Procter & Gamble Co. (The) | 38,067 | 5,414,270 |
Total | 6,608,121 | |
Tobacco 3.1% | ||
Altria Group, Inc. | 64,209 | 3,084,600 |
Philip Morris International, Inc. | 35,423 | 3,545,488 |
Total | 6,630,088 | |
Total Consumer Staples | 14,975,826 | |
Energy 4.4% | ||
Oil, Gas & Consumable Fuels 4.4% | ||
Chevron Corp.(b) | 41,391 | 4,214,018 |
ConocoPhillips Co. | 4,699 | 263,426 |
EOG Resources, Inc. | 49,900 | 3,635,714 |
Exxon Mobil Corp. | 5,100 | 293,607 |
HollyFrontier Corp. | 39,193 | 1,152,274 |
Total | 9,559,039 | |
Total Energy | 9,559,039 | |
Financials 20.1% | ||
Banks 6.1% | ||
Bank of America Corp. | 51,133 | 1,961,462 |
Citigroup, Inc. | 73,615 | 4,977,846 |
JPMorgan Chase & Co. | 29,557 | 4,486,162 |
Popular, Inc. | 23,279 | 1,693,780 |
Total | 13,119,250 | |
Capital Markets 5.6% | ||
BlackRock, Inc. | 4,805 | 4,166,752 |
Goldman Sachs Group, Inc. (The) | 1,719 | 644,419 |
Morgan Stanley | 57,395 | 5,508,772 |
T. Rowe Price Group, Inc. | 8,900 | 1,817,024 |
Total | 12,136,967 |
8 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Finance 3.3% | ||
Ally Financial, Inc. | 67,226 | 3,452,727 |
Capital One Financial Corp. | 12,150 | 1,964,655 |
SLM Corp. | 86,300 | 1,625,029 |
Total | 7,042,411 | |
Diversified Financial Services 0.9% | ||
Berkshire Hathaway, Inc., Class B(a) | 7,388 | 2,056,006 |
Insurance 4.2% | ||
Marsh & McLennan Companies, Inc. | 16,300 | 2,399,686 |
MetLife, Inc. | 57,246 | 3,303,094 |
Progressive Corp. (The) | 35,200 | 3,349,632 |
Total | 9,052,412 | |
Total Financials | 43,407,046 | |
Health Care 17.8% | ||
Biotechnology 1.6% | ||
BioMarin Pharmaceutical, Inc.(a) | 2,675 | 205,253 |
Gilead Sciences, Inc. | 12,912 | 881,760 |
Iovance Biotherapeutics, Inc.(a) | 8,000 | 178,160 |
Mirati Therapeutics, Inc.(a) | 1,850 | 296,111 |
Regeneron Pharmaceuticals, Inc.(a) | 1,475 | 847,550 |
United Therapeutics Corp.(a) | 1,177 | 214,132 |
Vertex Pharmaceuticals, Inc.(a) | 4,200 | 846,636 |
Total | 3,469,602 | |
Health Care Equipment & Supplies 2.5% | ||
Abbott Laboratories | 9,995 | 1,209,195 |
Becton Dickinson and Co. | 4,450 | 1,138,087 |
Medtronic PLC | 23,473 | 3,082,240 |
Total | 5,429,522 | |
Health Care Providers & Services 4.3% | ||
Cigna Corp. | 9,300 | 2,134,257 |
CVS Health Corp. | 17,426 | 1,435,205 |
McKesson Corp. | 9,200 | 1,875,236 |
Molina Healthcare, Inc.(a) | 13,900 | 3,794,839 |
Total | 9,239,537 | |
Life Sciences Tools & Services 1.5% | ||
IQVIA Holdings, Inc.(a) | 13,400 | 3,319,180 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals 7.9% | ||
Bristol-Myers Squibb Co. | 74,148 | 5,032,425 |
Horizon Therapeutics PLC(a) | 2,258 | 225,845 |
Johnson & Johnson | 32,278 | 5,558,272 |
Pfizer, Inc. | 143,788 | 6,155,564 |
Total | 16,972,106 | |
Total Health Care | 38,429,947 | |
Industrials 12.1% | ||
Aerospace & Defense 0.3% | ||
L3Harris Technologies, Inc. | 2,836 | 643,035 |
Airlines 0.1% | ||
Southwest Airlines Co.(a) | 6,110 | 308,677 |
Building Products 1.8% | ||
Johnson Controls International PLC | 48,400 | 3,456,728 |
Owens Corning | 4,600 | 442,336 |
Total | 3,899,064 | |
Commercial Services & Supplies 0.2% | ||
Clean Harbors, Inc.(a) | 4,100 | 389,500 |
Electrical Equipment 4.2% | ||
Eaton Corp. PLC | 30,034 | 4,746,874 |
Emerson Electric Co. | 42,133 | 4,250,798 |
Total | 8,997,672 | |
Industrial Conglomerates 0.3% | ||
3M Co. | 2,890 | 572,047 |
Machinery 2.4% | ||
Parker-Hannifin Corp. | 12,148 | 3,790,540 |
Snap-On, Inc. | 6,900 | 1,504,062 |
Total | 5,294,602 | |
Professional Services 0.2% | ||
Robert Half International, Inc. | 3,402 | 334,110 |
Road & Rail 2.6% | ||
CSX Corp. | 78,786 | 2,546,364 |
Norfolk Southern Corp. | 3,051 | 786,639 |
Ryder System, Inc. | 21,600 | 1,644,840 |
Union Pacific Corp. | 3,346 | 731,971 |
Total | 5,709,814 | |
Total Industrials | 26,148,521 |
Columbia Disciplined Value Fund | Annual Report 2021 | 9 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 10.4% | ||
Communications Equipment 2.8% | ||
Cisco Systems, Inc. | 110,296 | 6,107,090 |
Electronic Equipment, Instruments & Components 0.2% | ||
SYNNEX Corp. | 3,478 | 415,760 |
IT Services 3.4% | ||
Accenture PLC, Class A | 12,025 | 3,820,102 |
Automatic Data Processing, Inc. | 8,650 | 1,813,300 |
Fidelity National Information Services, Inc. | 8,400 | 1,252,020 |
Fiserv, Inc.(a) | 2,831 | 325,876 |
Total | 7,211,298 | |
Semiconductors & Semiconductor Equipment 2.3% | ||
Intel Corp. | 68,988 | 3,706,035 |
Texas Instruments, Inc. | 7,000 | 1,334,340 |
Total | 5,040,375 | |
Software 1.7% | ||
Synopsys, Inc.(a) | 12,550 | 3,614,274 |
Total Information Technology | 22,388,797 | |
Materials 4.1% | ||
Chemicals 1.7% | ||
Dow, Inc. | 59,818 | 3,718,287 |
Metals & Mining 2.3% | ||
Freeport-McMoRan, Inc. | 26,200 | 998,220 |
Reliance Steel & Aluminum Co. | 24,279 | 3,815,445 |
Total | 4,813,665 | |
Paper & Forest Products 0.1% | ||
Louisiana-Pacific Corp. | 4,100 | 227,304 |
Total Materials | 8,759,256 | |
Real Estate 4.4% | ||
Equity Real Estate Investment Trusts (REITS) 4.4% | ||
Prologis, Inc. | 18,203 | 2,330,712 |
Public Storage | 3,175 | 992,124 |
Simon Property Group, Inc. | 20,500 | 2,593,660 |
Weyerhaeuser Co. | 104,200 | 3,514,666 |
Total | 9,431,162 | |
Total Real Estate | 9,431,162 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Utilities 4.6% | ||
Electric Utilities 3.8% | ||
Duke Energy Corp. | 19,800 | 2,081,178 |
Exelon Corp. | 71,510 | 3,346,668 |
NRG Energy, Inc. | 52,415 | 2,161,595 |
Southern Co. (The) | 9,500 | 606,765 |
Total | 8,196,206 | |
Gas Utilities 0.7% | ||
National Fuel Gas Co. | 16,100 | 828,023 |
UGI Corp. | 14,300 | 657,657 |
Total | 1,485,680 | |
Multi-Utilities 0.1% | ||
MDU Resources Group, Inc. | 9,500 | 301,340 |
Total Utilities | 9,983,226 | |
Total Common Stocks (Cost $166,837,685) | 214,343,159 | |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(c),(d) | 1,197,011 | 1,196,891 |
Total Money Market Funds (Cost $1,196,860) | 1,196,891 | |
Total Investments in Securities (Cost: $168,034,545) | 215,540,050 | |
Other Assets & Liabilities, Net | 153,311 | |
Net Assets | 215,693,361 |
10 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
S&P 500 Index E-mini | 8 | 09/2021 | USD | 1,755,800 | 55,585 | — |
(a) | Non-income producing investment. |
(b) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(c) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
(d) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
8,382,938 | 40,701,080 | (47,886,082) | (1,045) | 1,196,891 | 520 | 6,027 | 1,197,011 |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Disciplined Value Fund | Annual Report 2021 | 11 |
July 31, 2021
additional valuation matters, which may include the need to review back-testing results, review time-sensitive information or approve related valuation actions. The Committee reports to the Board, with members of the Committee meeting with the Board at each of its regularly scheduled meetings to discuss valuation matters and actions during the period, similar to those described earlier.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 18,652,496 | — | — | 18,652,496 |
Consumer Discretionary | 12,607,843 | — | — | 12,607,843 |
Consumer Staples | 14,975,826 | — | — | 14,975,826 |
Energy | 9,559,039 | — | — | 9,559,039 |
Financials | 43,407,046 | — | — | 43,407,046 |
Health Care | 38,429,947 | — | — | 38,429,947 |
Industrials | 26,148,521 | — | — | 26,148,521 |
Information Technology | 22,388,797 | — | — | 22,388,797 |
Materials | 8,759,256 | — | — | 8,759,256 |
Real Estate | 9,431,162 | — | — | 9,431,162 |
Utilities | 9,983,226 | — | — | 9,983,226 |
Total Common Stocks | 214,343,159 | — | — | 214,343,159 |
Money Market Funds | 1,196,891 | — | — | 1,196,891 |
Total Investments in Securities | 215,540,050 | — | — | 215,540,050 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 55,585 | — | — | 55,585 |
Total | 215,595,635 | — | — | 215,595,635 |
12 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $166,837,685) | $214,343,159 |
Affiliated issuers (cost $1,196,860) | 1,196,891 |
Receivable for: | |
Capital shares sold | 174,089 |
Dividends | 357,746 |
Foreign tax reclaims | 2,321 |
Prepaid expenses | 9,904 |
Total assets | 216,084,110 |
Liabilities | |
Payable for: | |
Capital shares purchased | 253,108 |
Variation margin for futures contracts | 8,395 |
Management services fees | 4,444 |
Distribution and/or service fees | 1,266 |
Transfer agent fees | 19,057 |
Compensation of board members | 81,315 |
Other expenses | 23,164 |
Total liabilities | 390,749 |
Net assets applicable to outstanding capital stock | $215,693,361 |
Represented by | |
Paid in capital | 129,885,819 |
Total distributable earnings (loss) | 85,807,542 |
Total - representing net assets applicable to outstanding capital stock | $215,693,361 |
Columbia Disciplined Value Fund | Annual Report 2021 | 13 |
July 31, 2021
Class A | |
Net assets | $65,697,963 |
Shares outstanding | 5,858,582 |
Net asset value per share | $11.21 |
Maximum sales charge | 5.75% |
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) | $11.89 |
Advisor Class | |
Net assets | $1,893,210 |
Shares outstanding | 166,877 |
Net asset value per share | $11.34 |
Class C | |
Net assets | $8,388,640 |
Shares outstanding | 772,659 |
Net asset value per share | $10.86 |
Institutional Class | |
Net assets | $38,093,760 |
Shares outstanding | 3,355,364 |
Net asset value per share | $11.35 |
Institutional 2 Class | |
Net assets | $854,605 |
Shares outstanding | 75,446 |
Net asset value per share | $11.33 |
Institutional 3 Class | |
Net assets | $16,724,858 |
Shares outstanding | 1,473,082 |
Net asset value per share | $11.35 |
Class R | |
Net assets | $1,192,661 |
Shares outstanding | 106,165 |
Net asset value per share | $11.23 |
Class V | |
Net assets | $82,847,664 |
Shares outstanding | 7,413,238 |
Net asset value per share | $11.18 |
Maximum sales charge | 5.75% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class V shares) | $11.86 |
14 | Columbia Disciplined Value Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $9,305,799 |
Dividends — affiliated issuers | 6,027 |
Foreign taxes withheld | (11,742) |
Total income | 9,300,084 |
Expenses: | |
Management services fees | 2,623,540 |
Distribution and/or service fees | |
Class A | 155,207 |
Class C | 76,861 |
Class R | 7,698 |
Class V | 183,940 |
Transfer agent fees | |
Class A | 139,112 |
Advisor Class | 3,632 |
Class C | 17,100 |
Institutional Class | 160,747 |
Institutional 2 Class | 458 |
Institutional 3 Class | 9,416 |
Class R | 3,600 |
Class V | 162,826 |
Compensation of board members | 40,792 |
Custodian fees | 9,860 |
Printing and postage fees | 21,690 |
Registration fees | 113,380 |
Audit fees | 29,500 |
Legal fees | 11,744 |
Interest on collateral | 201 |
Compensation of chief compliance officer | 69 |
Other | 24,894 |
Total expenses | 3,796,267 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (660,054) |
Expense reduction | (1,811) |
Total net expenses | 3,134,402 |
Net investment income | 6,165,682 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 99,436,839 |
Investments — affiliated issuers | 520 |
Futures contracts | 2,540,040 |
Net realized gain | 101,977,399 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 18,479,344 |
Investments — affiliated issuers | (1,045) |
Futures contracts | (723,545) |
Net change in unrealized appreciation (depreciation) | 17,754,754 |
Net realized and unrealized gain | 119,732,153 |
Net increase in net assets resulting from operations | $125,897,835 |
Columbia Disciplined Value Fund | Annual Report 2021 | 15 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $6,165,682 | $13,547,636 |
Net realized gain | 101,977,399 | 8,275,561 |
Net change in unrealized appreciation (depreciation) | 17,754,754 | (64,343,636) |
Net increase (decrease) in net assets resulting from operations | 125,897,835 | (42,520,439) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (935,790) | (7,331,422) |
Advisor Class | (27,597) | (202,052) |
Class C | (68,073) | (1,110,285) |
Institutional Class | (1,108,592) | (11,129,827) |
Institutional 2 Class | (12,838) | (110,104) |
Institutional 3 Class | (6,725,939) | (44,122,254) |
Class R | (20,460) | (257,293) |
Class V | (1,098,974) | (7,652,395) |
Total distributions to shareholders | (9,998,263) | (71,915,632) |
Decrease in net assets from capital stock activity | (423,679,936) | (71,421,348) |
Total decrease in net assets | (307,780,364) | (185,857,419) |
Net assets at beginning of year | 523,473,725 | 709,331,144 |
Net assets at end of year | $215,693,361 | $523,473,725 |
16 | Columbia Disciplined Value Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,182,048 | 11,582,618 | 1,313,288 | 11,042,013 |
Distributions reinvested | 65,135 | 595,337 | 563,724 | 5,118,614 |
Redemptions | (2,400,043) | (23,548,706) | (2,614,977) | (22,239,596) |
Net decrease | (1,152,860) | (11,370,751) | (737,965) | (6,078,969) |
Advisor Class | ||||
Subscriptions | 50,248 | 511,399 | 43,309 | 389,692 |
Distributions reinvested | 2,986 | 27,556 | 22,006 | 201,791 |
Redemptions | (73,797) | (705,411) | (188,926) | (1,749,143) |
Net decrease | (20,563) | (166,456) | (123,611) | (1,157,660) |
Class C | ||||
Subscriptions | 76,860 | 768,997 | 52,636 | 449,352 |
Distributions reinvested | 7,389 | 65,686 | 112,170 | 991,586 |
Redemptions | (216,784) | (2,010,291) | (523,630) | (4,341,107) |
Net decrease | (132,535) | (1,175,608) | (358,824) | (2,900,169) |
Institutional Class | ||||
Subscriptions | 925,921 | 8,909,439 | 2,152,137 | 18,282,649 |
Distributions reinvested | 114,918 | 1,061,837 | 1,081,019 | 9,912,947 |
Redemptions | (7,861,197) | (77,923,712) | (4,547,703) | (39,555,841) |
Net decrease | (6,820,358) | (67,952,436) | (1,314,547) | (11,360,245) |
Institutional 2 Class | ||||
Subscriptions | 12,360 | 114,905 | 31,358 | 284,447 |
Distributions reinvested | 1,389 | 12,793 | 12,017 | 109,840 |
Redemptions | (10,265) | (92,219) | (96,247) | (882,950) |
Net increase (decrease) | 3,484 | 35,479 | (52,872) | (488,663) |
Institutional 3 Class | ||||
Subscriptions | 1,738,620 | 16,326,230 | 2,782,587 | 23,789,988 |
Distributions reinvested | 714,523 | 6,595,050 | 4,816,811 | 44,121,989 |
Redemptions | (38,664,360) | (360,236,200) | (13,916,788) | (117,532,399) |
Net decrease | (36,211,217) | (337,314,920) | (6,317,390) | (49,620,422) |
Class R | ||||
Subscriptions | 35,870 | 358,795 | 60,621 | 561,183 |
Distributions reinvested | 2,221 | 20,368 | 25,240 | 229,935 |
Redemptions | (143,014) | (1,379,684) | (159,893) | (1,331,671) |
Net decrease | (104,923) | (1,000,521) | (74,032) | (540,553) |
Class V | ||||
Subscriptions | 96,400 | 892,999 | 54,785 | 452,720 |
Distributions reinvested | 106,284 | 968,249 | 746,544 | 6,756,219 |
Redemptions | (699,352) | (6,595,971) | (757,284) | (6,483,606) |
Net increase (decrease) | (496,668) | (4,734,723) | 44,045 | 725,333 |
Total net decrease | (44,935,640) | (423,679,936) | (8,935,196) | (71,421,348) |
Columbia Disciplined Value Fund | Annual Report 2021 | 17 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $8.09 | 0.14 | 3.12 | 3.26 | (0.14) | — | (0.14) |
Year Ended 7/31/2020 | $9.63 | 0.16 | (0.70) | (0.54) | (0.17) | (0.83) | (1.00) |
Year Ended 7/31/2019 | $10.82 | 0.15 | (0.31) | (0.16) | (0.16) | (0.87) | (1.03) |
Year Ended 7/31/2018 | $10.32 | 0.14 | 1.14 | 1.28 | (0.21) | (0.57) | (0.78) |
Year Ended 7/31/2017 | $9.17 | 0.19 | 1.11 | 1.30 | (0.15) | — | (0.15) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $8.18 | 0.17 | 3.15 | 3.32 | (0.16) | — | (0.16) |
Year Ended 7/31/2020 | $9.73 | 0.19 | (0.72) | (0.53) | (0.19) | (0.83) | (1.02) |
Year Ended 7/31/2019 | $10.92 | 0.18 | (0.32) | (0.14) | (0.18) | (0.87) | (1.05) |
Year Ended 7/31/2018 | $10.41 | 0.16 | 1.16 | 1.32 | (0.24) | (0.57) | (0.81) |
Year Ended 7/31/2017 | $9.25 | 0.23 | 1.10 | 1.33 | (0.17) | — | (0.17) |
Class C | |||||||
Year Ended 7/31/2021 | $7.84 | 0.07 | 3.03 | 3.10 | (0.08) | — | (0.08) |
Year Ended 7/31/2020 | $9.36 | 0.09 | (0.68) | (0.59) | (0.10) | (0.83) | (0.93) |
Year Ended 7/31/2019 | $10.54 | 0.08 | (0.32) | (0.24) | (0.07) | (0.87) | (0.94) |
Year Ended 7/31/2018 | $10.07 | 0.06 | 1.11 | 1.17 | (0.13) | (0.57) | (0.70) |
Year Ended 7/31/2017 | $8.96 | 0.11 | 1.08 | 1.19 | (0.08) | — | (0.08) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $8.19 | 0.17 | 3.15 | 3.32 | (0.16) | — | (0.16) |
Year Ended 7/31/2020 | $9.74 | 0.18 | (0.71) | (0.53) | (0.19) | (0.83) | (1.02) |
Year Ended 7/31/2019 | $10.93 | 0.18 | (0.32) | (0.14) | (0.18) | (0.87) | (1.05) |
Year Ended 7/31/2018 | $10.42 | 0.17 | 1.15 | 1.32 | (0.24) | (0.57) | (0.81) |
Year Ended 7/31/2017 | $9.26 | 0.23 | 1.10 | 1.33 | (0.17) | — | (0.17) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $8.17 | 0.18 | 3.16 | 3.34 | (0.18) | — | (0.18) |
Year Ended 7/31/2020 | $9.72 | 0.20 | (0.71) | (0.51) | (0.21) | (0.83) | (1.04) |
Year Ended 7/31/2019 | $10.91 | 0.19 | (0.31) | (0.12) | (0.20) | (0.87) | (1.07) |
Year Ended 7/31/2018 | $10.39 | 0.18 | 1.15 | 1.33 | (0.24) | (0.57) | (0.81) |
Year Ended 7/31/2017 | $9.24 | 0.29 | 1.04 | 1.33 | (0.18) | — | (0.18) |
18 | Columbia Disciplined Value Fund | Annual Report 2021 |
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 7/31/2021 | $11.21 | 40.74% | 1.31%(c) | 1.09%(c),(d) | 1.46% | 79% | $65,698 |
Year Ended 7/31/2020 | $8.09 | (6.75%) | 1.26% | 1.12%(d) | 1.83% | 80% | $56,748 |
Year Ended 7/31/2019 | $9.63 | (0.87%) | 1.23% | 1.15% | 1.57% | 90% | $74,650 |
Year Ended 7/31/2018 | $10.82 | 12.62% | 1.22% | 1.15%(d) | 1.33% | 86% | $78,335 |
Year Ended 7/31/2017 | $10.32 | 14.23% | 1.21% | 1.16%(d) | 1.94% | 78% | $72,684 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $11.34 | 41.09% | 1.06%(c) | 0.84%(c),(d) | 1.71% | 79% | $1,893 |
Year Ended 7/31/2020 | $8.18 | (6.55%) | 1.01% | 0.87%(d) | 2.12% | 80% | $1,534 |
Year Ended 7/31/2019 | $9.73 | (0.57%) | 0.98% | 0.90% | 1.81% | 90% | $3,026 |
Year Ended 7/31/2018 | $10.92 | 12.87% | 0.98% | 0.90%(d) | 1.51% | 86% | $7,986 |
Year Ended 7/31/2017 | $10.41 | 14.47% | 0.97% | 0.91%(d) | 2.35% | 78% | $5,845 |
Class C | |||||||
Year Ended 7/31/2021 | $10.86 | 39.78% | 2.06%(c) | 1.84%(c),(d) | 0.71% | 79% | $8,389 |
Year Ended 7/31/2020 | $7.84 | (7.45%) | 2.01% | 1.87%(d) | 1.09% | 80% | $7,100 |
Year Ended 7/31/2019 | $9.36 | (1.66%) | 1.98% | 1.90% | 0.83% | 90% | $11,835 |
Year Ended 7/31/2018 | $10.54 | 11.82% | 1.97% | 1.90%(d) | 0.59% | 86% | $14,761 |
Year Ended 7/31/2017 | $10.07 | 13.34% | 1.96% | 1.91%(d) | 1.18% | 78% | $13,852 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $11.35 | 41.04% | 1.07%(c) | 0.84%(c),(d) | 1.75% | 79% | $38,094 |
Year Ended 7/31/2020 | $8.19 | (6.53%) | 1.01% | 0.87%(d) | 2.07% | 80% | $83,333 |
Year Ended 7/31/2019 | $9.74 | (0.57%) | 0.98% | 0.90% | 1.80% | 90% | $111,873 |
Year Ended 7/31/2018 | $10.93 | 12.86% | 0.97% | 0.90%(d) | 1.58% | 86% | $206,950 |
Year Ended 7/31/2017 | $10.42 | 14.46% | 0.97% | 0.91%(d) | 2.33% | 78% | $175,663 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $11.33 | 41.32% | 0.90%(c) | 0.70%(c) | 1.84% | 79% | $855 |
Year Ended 7/31/2020 | $8.17 | (6.42%) | 0.84% | 0.73% | 2.20% | 80% | $588 |
Year Ended 7/31/2019 | $9.72 | (0.44%) | 0.83% | 0.76% | 1.96% | 90% | $1,213 |
Year Ended 7/31/2018 | $10.91 | 13.09% | 0.83% | 0.78% | 1.70% | 86% | $1,286 |
Year Ended 7/31/2017 | $10.39 | 14.50% | 0.85% | 0.82% | 2.90% | 78% | $977 |
Columbia Disciplined Value Fund | Annual Report 2021 | 19 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $8.19 | 0.19 | 3.15 | 3.34 | (0.18) | — | (0.18) |
Year Ended 7/31/2020 | $9.74 | 0.20 | (0.71) | (0.51) | (0.21) | (0.83) | (1.04) |
Year Ended 7/31/2019 | $10.93 | 0.20 | (0.32) | (0.12) | (0.20) | (0.87) | (1.07) |
Year Ended 7/31/2018 | $10.41 | 0.19 | 1.15 | 1.34 | (0.25) | (0.57) | (0.82) |
Year Ended 7/31/2017 | $9.25 | 0.32 | 1.02 | 1.34 | (0.18) | — | (0.18) |
Class R | |||||||
Year Ended 7/31/2021 | $8.11 | 0.12 | 3.12 | 3.24 | (0.12) | — | (0.12) |
Year Ended 7/31/2020 | $9.65 | 0.14 | (0.70) | (0.56) | (0.15) | (0.83) | (0.98) |
Year Ended 7/31/2019 | $10.83 | 0.13 | (0.31) | (0.18) | (0.13) | (0.87) | (1.00) |
Year Ended 7/31/2018 | $10.33 | 0.12 | 1.13 | 1.25 | (0.18) | (0.57) | (0.75) |
Year Ended 7/31/2017 | $9.19 | 0.17 | 1.10 | 1.27 | (0.13) | — | (0.13) |
Class V | |||||||
Year Ended 7/31/2021 | $8.07 | 0.14 | 3.11 | 3.25 | (0.14) | — | (0.14) |
Year Ended 7/31/2020 | $9.60 | 0.16 | (0.69) | (0.53) | (0.17) | (0.83) | (1.00) |
Year Ended 7/31/2019 | $10.79 | 0.15 | (0.31) | (0.16) | (0.16) | (0.87) | (1.03) |
Year Ended 7/31/2018 | $10.29 | 0.14 | 1.14 | 1.28 | (0.21) | (0.57) | (0.78) |
Year Ended 7/31/2017 | $9.15 | 0.19 | 1.10 | 1.29 | (0.15) | — | (0.15) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
20 | Columbia Disciplined Value Fund | Annual Report 2021 |
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 7/31/2021 | $11.35 | 41.28% | 0.80%(c) | 0.66%(c) | 2.12% | 79% | $16,725 |
Year Ended 7/31/2020 | $8.19 | (6.36%) | 0.79% | 0.68% | 2.28% | 80% | $308,660 |
Year Ended 7/31/2019 | $9.74 | (0.37%) | 0.78% | 0.71% | 2.01% | 90% | $428,447 |
Year Ended 7/31/2018 | $10.93 | 13.13% | 0.77% | 0.72% | 1.76% | 86% | $461,028 |
Year Ended 7/31/2017 | $10.41 | 14.63% | 0.78% | 0.77% | 3.11% | 78% | $447,684 |
Class R | |||||||
Year Ended 7/31/2021 | $11.23 | 40.32% | 1.57%(c) | 1.34%(c),(d) | 1.23% | 79% | $1,193 |
Year Ended 7/31/2020 | $8.11 | (6.96%) | 1.51% | 1.37%(d) | 1.58% | 80% | $1,711 |
Year Ended 7/31/2019 | $9.65 | (1.05%) | 1.48% | 1.40% | 1.33% | 90% | $2,750 |
Year Ended 7/31/2018 | $10.83 | 12.34% | 1.47% | 1.40%(d) | 1.08% | 86% | $3,074 |
Year Ended 7/31/2017 | $10.33 | 13.84% | 1.47% | 1.41%(d) | 1.75% | 78% | $2,930 |
Class V | |||||||
Year Ended 7/31/2021 | $11.18 | 40.72% | 1.31%(c) | 1.09%(c),(d) | 1.45% | 79% | $82,848 |
Year Ended 7/31/2020 | $8.07 | (6.66%) | 1.26% | 1.12%(d) | 1.83% | 80% | $63,800 |
Year Ended 7/31/2019 | $9.60 | (0.87%) | 1.23% | 1.15% | 1.57% | 90% | $75,537 |
Year Ended 7/31/2018 | $10.79 | 12.66% | 1.22% | 1.15%(d) | 1.33% | 86% | $83,747 |
Year Ended 7/31/2017 | $10.29 | 14.15% | 1.22% | 1.16%(d) | 1.98% | 78% | $81,312 |
Columbia Disciplined Value Fund | Annual Report 2021 | 21 |
July 31, 2021
22 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Value Fund | Annual Report 2021 | 23 |
July 31, 2021
24 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 55,585* |
* | 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 ($) |
Equity risk | 2,540,040 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Futures contracts ($) |
Equity risk | (723,545) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 5,868,522 |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
Columbia Disciplined Value Fund | Annual Report 2021 | 25 |
July 31, 2021
26 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Value Fund | Annual Report 2021 | 27 |
July 31, 2021
Effective rate (%) | |
Class A | 0.22 |
Advisor Class | 0.22 |
Class C | 0.22 |
Institutional Class | 0.24 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.23 |
Class V | 0.22 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 37,829 |
Class C | — | 1.00(b) | 8 |
Class V | 5.75 | 0.50 - 1.00(a) | 3,611 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
28 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.08% | 1.11% |
Advisor Class | 0.83 | 0.86 |
Class C | 1.83 | 1.86 |
Institutional Class | 0.83 | 0.86 |
Institutional 2 Class | 0.70 | 0.72 |
Institutional 3 Class | 0.64 | 0.67 |
Class R | 1.33 | 1.36 |
Class V | 1.08 | 1.11 |
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(104,613) | (52,066,363) | 52,170,976 |
Columbia Disciplined Value Fund | Annual Report 2021 | 29 |
July 31, 2021
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
9,998,263 | — | 9,998,263 | 13,771,767 | 58,143,865 | 71,915,632 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
19,342,081 | 19,281,645 | — | 47,264,064 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
168,331,571 | 48,279,471 | (1,015,407) | 47,264,064 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
— | — | — | 11,013,459 |
30 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Value Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Disciplined Value Fund | Annual Report 2021 |
July 31, 2021
Columbia Disciplined Value Fund | Annual Report 2021 | 33 |
34 | Columbia Disciplined Value Fund | Annual Report 2021 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
82.98% | 82.28% | $20,245,727 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
Columbia Disciplined Value Fund | Annual Report 2021 | 35 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
36 | Columbia Disciplined Value Fund | Annual Report 2021 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
Columbia Disciplined Value Fund | Annual Report 2021 | 37 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
38 | Columbia Disciplined Value Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
Columbia Disciplined Value Fund | Annual Report 2021 | 39 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
40 | Columbia Disciplined Value Fund | Annual Report 2021 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
Columbia Disciplined Value Fund | Annual Report 2021 | 41 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
42 | Columbia Disciplined Value Fund | Annual Report 2021 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
Columbia Disciplined Value Fund | Annual Report 2021 | 43 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
44 | Columbia Disciplined Value Fund | Annual Report 2021 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
Columbia Disciplined Value Fund | Annual Report 2021 | 45 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
6 | |
8 | |
9 | |
21 | |
23 | |
24 | |
26 | |
30 | |
47 | |
48 | |
48 | |
54 | |
55 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 01/23/85 | 17.46 | 8.37 | 6.95 |
Including sales charges | 10.73 | 7.09 | 6.31 | ||
Advisor Class* | 11/08/12 | 17.70 | 8.64 | 7.16 | |
Class C | Excluding sales charges | 06/26/00 | 16.56 | 7.55 | 6.15 |
Including sales charges | 15.56 | 7.55 | 6.15 | ||
Institutional Class | 09/27/10 | 17.75 | 8.64 | 7.23 | |
Institutional 2 Class* | 11/08/12 | 17.75 | 8.70 | 7.25 | |
Institutional 3 Class* | 03/01/17 | 17.83 | 8.69 | 7.10 | |
Class R | 12/11/06 | 17.19 | 8.10 | 6.66 | |
Blended Benchmark | 16.89 | 8.20 | 6.22 | ||
MSCI ACWI All Cap Index (Net) | 34.83 | 13.67 | 10.13 | ||
Bloomberg Barclays Global Aggregate Index | 0.78 | 2.46 | 1.98 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Global Opportunities Fund | Annual Report 2021 | 3 |
Equity sector breakdown (%) (at July 31, 2021) | |
Communication Services | 9.1 |
Consumer Discretionary | 13.9 |
Consumer Staples | 6.1 |
Energy | 4.0 |
Financials | 13.9 |
Health Care | 12.9 |
Industrials | 10.9 |
Information Technology | 22.9 |
Materials | 2.5 |
Real Estate | 2.0 |
Utilities | 1.8 |
Total | 100.0 |
Country breakdown (%) (at July 31, 2021) | |
Argentina | 0.3 |
Australia | 0.3 |
Austria | 0.1 |
Bahamas | 0.1 |
Belgium | 0.2 |
Brazil | 1.3 |
Canada | 1.2 |
Chile | 0.6 |
China | 5.1 |
Cyprus | 0.1 |
Denmark | 0.1 |
Finland | 0.4 |
France | 1.1 |
Germany | 1.3 |
Hong Kong | 0.8 |
4 | Columbia Global Opportunities Fund | Annual Report 2021 |
Country breakdown (%) (at July 31, 2021) | |
Hungary | 0.1 |
India | 1.1 |
Indonesia | 0.6 |
Ireland | 0.1 |
Israel | 0.3 |
Italy | 0.5 |
Japan | 5.5 |
Kazakhstan | 0.1 |
Malta | 0.0(a) |
Mexico | 1.1 |
Netherlands | 1.9 |
New Zealand | 0.3 |
Norway | 0.4 |
Pakistan | 0.1 |
Philippines | 0.1 |
Poland | 0.7 |
Puerto Rico | 0.3 |
Russian Federation | 1.1 |
Singapore | 0.4 |
South Africa | 0.3 |
South Korea | 2.6 |
Spain | 0.4 |
Sweden | 0.6 |
Switzerland | 0.8 |
Taiwan | 2.3 |
Thailand | 0.1 |
United Kingdom | 3.4 |
United States | 61.7 |
Uruguay | 0.0(a) |
Virgin Islands | 0.1 |
Total | 100.0 |
(a) | Rounds to zero. |
Market exposure through derivatives investments (% of notional exposure) (at July 31, 2021)(a) | |||
Long | Short | Net | |
Fixed Income Derivative Contracts | 94.8 | (1.7) | 93.1 |
Equity Derivative Contracts | 6.2 | (32.5) | (26.3) |
Foreign Currency Derivative Contracts | 54.2 | (21.0) | 33.2 |
Total Notional Market Value of Derivative Contracts | 155.2 | (55.2) | 100.0 |
Columbia Global Opportunities Fund | Annual Report 2021 | 5 |
• | U.S. small-cap equities proved to be the largest contributor to performance during the period, fueled by strong asset allocation decisions and security selection. |
• | Positive asset allocation and style decisions helped U.S. large-cap equities contribute favorably during the period. |
• | Outside of the United States, emerging market equities also contributed to performance, led by strong security selection which offset asset allocation and style decisions for the period. |
• | Overall, fixed-income assets detracted from performance, driven by asset allocation decisions in emerging market bonds and high-yield bonds. |
• | International developed equities slightly detracted from performance mainly due to style decisions within the space. |
6 | Columbia Global Opportunities Fund | Annual Report 2021 |
Columbia Global Opportunities Fund | Annual Report 2021 | 7 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,065.20 | 1,019.15 | 5.97 | 5.84 | 1.16 |
Advisor Class | 1,000.00 | 1,000.00 | 1,066.00 | 1,020.39 | 4.69 | 4.58 | 0.91 |
Class C | 1,000.00 | 1,000.00 | 1,060.60 | 1,015.41 | 9.81 | 9.60 | 1.91 |
Institutional Class | 1,000.00 | 1,000.00 | 1,066.20 | 1,020.39 | 4.69 | 4.58 | 0.91 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,066.40 | 1,020.54 | 4.53 | 4.43 | 0.88 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,066.80 | 1,020.74 | 4.33 | 4.23 | 0.84 |
Class R | 1,000.00 | 1,000.00 | 1,064.00 | 1,017.90 | 7.26 | 7.09 | 1.41 |
8 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Alternative Strategies Funds 0.9% | ||
Shares | Value ($) | |
United States 0.9% | ||
Columbia Commodity Strategy Fund, Institutional 3 Class(a) | 222,704 | 5,010,839 |
Total Alternative Strategies Funds (Cost $3,763,744) | 5,010,839 | |
Common Stocks 70.2% | ||
Issuer | Shares | Value ($) |
Argentina 0.3% | ||
Globant SA(b) | 1,519 | 363,284 |
MercadoLibre, Inc.(b) | 787 | 1,234,567 |
Total | 1,597,851 | |
Australia 0.3% | ||
Ansell Ltd. | 43,250 | 1,250,542 |
Santos Ltd. | 120,047 | 566,488 |
Total | 1,817,030 | |
Bahamas 0.1% | ||
OneSpaWorld Holdings Ltd.(b) | 48,050 | 474,734 |
Brazil 1.1% | ||
Afya Ltd., Class A(b) | 23,746 | 546,158 |
Arco Platform Ltd., Class A(b) | 7,067 | 205,650 |
Banco BTG Pactual SA | 130,980 | 733,081 |
Localiza Rent a Car SA | 73,211 | 875,313 |
Locaweb Servicos de Internet SA | 163,364 | 784,473 |
Magazine Luiza SA | 136,514 | 539,949 |
Notre Dame Intermedica Participacoes SA | 20,571 | 315,936 |
Pagseguro Digital Ltd., Class A(b) | 16,667 | 924,018 |
Stone Co., Ltd., Class A(b) | 9,377 | 551,743 |
XP, Inc., Class A(b) | 16,951 | 696,008 |
Total | 6,172,329 | |
Canada 1.2% | ||
Alimentation Couche-Tard, Inc., Class B | 57,205 | 2,305,899 |
Cameco Corp. | 79,753 | 1,419,603 |
Canada Goose Holdings, Inc.(b) | 7,000 | 297,010 |
Gildan Activewear, Inc. | 10,282 | 354,626 |
Masonite International Corp.(b) | 2,305 | 260,834 |
Parex Resources, Inc.(b) | 26,932 | 442,535 |
Ritchie Bros. Auctioneers, Inc. | 3,263 | 194,899 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Yamana Gold, Inc. | 334,198 | 1,500,549 |
Total | 6,775,955 | |
China 3.8% | ||
Alibaba Group Holding Ltd., ADR(b) | 17,691 | 3,453,106 |
Alibaba Health Information Technology Ltd.(b) | 130,000 | 202,619 |
BeiGene Ltd., ADR(b) | 1,001 | 316,907 |
Burning Rock Biotech Ltd., ADR(b) | 7,964 | 181,420 |
China Tourism Group Duty Free Corp., Ltd., Class A | 7,700 | 287,993 |
Country Garden Services Holdings Co., Ltd. | 223,000 | 1,810,736 |
Glodon Co., Ltd., Class A | 20,400 | 199,692 |
JD.com, Inc., ADR(b) | 16,508 | 1,170,087 |
Kingdee International Software Group Co., Ltd.(b) | 120,885 | 377,546 |
Kuaishou Technology(b) | 8,627 | 122,423 |
Kweichow Moutai Co., Ltd., Class A | 1,800 | 468,827 |
Li Ning Co., Ltd. | 113,500 | 1,198,709 |
Midea Group Co., Ltd., Class A | 34,100 | 336,371 |
NetEase, Inc., ADR | 7,112 | 726,918 |
Shenzhou International Group Holdings Ltd. | 41,200 | 914,363 |
Skshu Paint Co., Ltd. | 13,608 | 322,957 |
Songcheng Performance Development Co., Ltd., Class A | 265,100 | 521,034 |
Tencent Holdings Ltd. | 78,800 | 4,752,282 |
WuXi AppTec Co., Ltd., Class H | 40,200 | 891,045 |
WuXi Biologics Cayman, Inc.(b) | 120,000 | 1,832,911 |
Xpeng, Inc., ADR(b) | 19,140 | 775,744 |
Zai Lab Ltd., ADR(b) | 2,406 | 347,932 |
Total | 21,211,622 | |
Cyprus 0.1% | ||
Ozon Holdings PLC, ADR(b) | 10,895 | 568,828 |
Denmark 0.2% | ||
Novo Nordisk A/S, Class B | 9,377 | 868,042 |
Finland 0.4% | ||
UPM-Kymmene OYJ | 48,555 | 1,984,221 |
Valmet OYJ | 5,588 | 233,204 |
Total | 2,217,425 |
Columbia Global Opportunities Fund | Annual Report 2021 | 9 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
France 0.9% | ||
AtoS | 10,337 | 494,344 |
Capgemini SE | 6,235 | 1,347,714 |
DBV Technologies SA, ADR(b) | 17,435 | 90,662 |
Eiffage SA | 18,985 | 1,935,420 |
TotalEnergies SE | 23,838 | 1,039,497 |
Total | 4,907,637 | |
Germany 1.1% | ||
Aroundtown SA | 143,456 | 1,122,841 |
Bayer AG, Registered Shares | 11,756 | 700,411 |
Covestro AG | 17,755 | 1,143,800 |
Duerr AG | 19,614 | 937,210 |
E.ON SE | 85,093 | 1,046,092 |
KION Group AG | 12,510 | 1,328,487 |
Total | 6,278,841 | |
Hong Kong 0.8% | ||
AIA Group Ltd. | 73,200 | 875,894 |
Galaxy Entertainment Group Ltd.(b) | 41,000 | 277,858 |
Hong Kong Exchanges and Clearing Ltd. | 20,100 | 1,284,585 |
Techtronic Industries Co., Ltd. | 61,000 | 1,087,770 |
WH Group Ltd. | 1,037,500 | 859,639 |
Total | 4,385,746 | |
Hungary 0.1% | ||
OTP Bank Nyrt(b) | 14,570 | 785,701 |
India 1.1% | ||
Apollo Hospitals Enterprise Ltd. | 9,797 | 531,755 |
Avenue Supermarts Ltd.(b) | 9,721 | 457,823 |
Bajaj Finance Ltd. | 7,309 | 613,607 |
Balkrishna Industries Ltd. | 17,620 | 563,000 |
Cholamandalam Investment and Finance Co., Ltd. | 30,884 | 197,782 |
Eicher Motors Ltd.(b) | 10,598 | 360,961 |
HDFC Bank Ltd., ADR | 10,725 | 756,863 |
HDFC Life Insurance Co., Ltd. | 49,273 | 440,133 |
Jubilant Foodworks Ltd.(b) | 5,307 | 269,960 |
Kotak Mahindra Bank Ltd.(b) | 20,996 | 468,108 |
Reliance Industries Ltd. | 56,977 | 1,561,858 |
Total | 6,221,850 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Indonesia 0.5% | ||
PT Ace Hardware Indonesia Tbk | 3,075,500 | 280,946 |
PT Bank BTPN Syariah Tbk | 1,843,700 | 302,232 |
PT Bank Central Asia Tbk | 513,900 | 1,060,873 |
PT Bank Rakyat Indonesia Persero Tbk | 4,076,600 | 1,045,837 |
Total | 2,689,888 | |
Ireland 0.2% | ||
Amarin Corp. PLC, ADR(b) | 12,637 | 52,317 |
Flutter Entertainment PLC(b) | 4,540 | 773,952 |
Total | 826,269 | |
Israel 0.3% | ||
Bank Hapoalim BM(b) | 86,490 | 688,281 |
Bezeq Israeli Telecommunication Corp., Ltd.(b) | 366,994 | 391,982 |
Check Point Software Technologies Ltd.(b) | 5,192 | 659,903 |
Total | 1,740,166 | |
Italy 0.5% | ||
Intesa Sanpaolo SpA | 532,005 | 1,469,689 |
Recordati Industria Chimica e Farmaceutica SpA | 24,044 | 1,487,162 |
Total | 2,956,851 | |
Japan 4.6% | ||
Amano Corp. | 42,000 | 1,035,585 |
BayCurrent Consulting, Inc. | 1,400 | 557,523 |
COMSYS Holdings Corp. | 48,300 | 1,342,381 |
Fujitsu Ltd. | 4,500 | 765,587 |
Invincible Investment Corp. | 1,738 | 682,805 |
ITOCHU Corp. | 71,400 | 2,113,386 |
JustSystems Corp. | 11,700 | 679,738 |
Kinden Corp. | 36,500 | 591,894 |
Koito Manufacturing Co., Ltd. | 21,700 | 1,328,052 |
Matsumotokiyoshi Holdings Co., Ltd. | 38,300 | 1,701,748 |
Meitec Corp. | 11,200 | 632,610 |
Nihon M&A Center, Inc. | 51,500 | 1,434,225 |
Nippon Telegraph & Telephone Corp. | 20,500 | 524,966 |
ORIX Corp. | 84,800 | 1,483,611 |
Round One Corp. | 85,400 | 832,352 |
Shionogi & Co., Ltd. | 19,500 | 1,026,961 |
Ship Healthcare Holdings, Inc. | 58,500 | 1,475,241 |
SoftBank Group Corp. | 8,900 | 559,682 |
10 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Sony Group Corp. | 20,900 | 2,183,350 |
Sumitomo Mitsui Financial Group, Inc. | 26,400 | 889,920 |
Takeda Pharmaceutical Co., Ltd. | 53,251 | 1,772,541 |
Takuma Co., Ltd. | 39,100 | 627,843 |
Uchida Yoko Co., Ltd. | 11,500 | 529,836 |
ValueCommerce Co., Ltd. | 25,000 | 867,572 |
Total | 25,639,409 | |
Kazakhstan 0.1% | ||
Kaspi.KZ JSC, GDR(c),(d),(e) | 3,291 | 372,541 |
Malta 0.0% | ||
BGP Holdings PLC(b),(d),(e) | 581,000 | 1 |
Netherlands 1.6% | ||
ABN AMRO Bank NV(b) | 69,766 | 813,236 |
ASR Nederland NV | 35,207 | 1,446,889 |
ING Groep NV | 97,592 | 1,252,174 |
Koninklijke Ahold Delhaize NV | 40,782 | 1,267,703 |
NXP Semiconductors NV | 11,868 | 2,449,437 |
Signify NV | 29,728 | 1,665,327 |
Total | 8,894,766 | |
Norway 0.4% | ||
SalMar ASA | 20,047 | 1,329,754 |
Yara International ASA | 20,097 | 1,059,243 |
Total | 2,388,997 | |
Pakistan 0.1% | ||
Lucky Cement Ltd.(b) | 49,706 | 271,641 |
Oil & Gas Development Co., Ltd. | 216,093 | 124,092 |
Total | 395,733 | |
Philippines 0.1% | ||
Ayala Land, Inc. | 905,800 | 592,571 |
Poland 0.1% | ||
Allegro.eu SA(b) | 19,065 | 327,111 |
Dino Polska SA(b) | 4,273 | 342,089 |
Total | 669,200 | |
Puerto Rico 0.3% | ||
Popular, Inc. | 20,419 | 1,485,686 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Russian Federation 1.1% | ||
Detsky Mir PJSC | 290,936 | 558,077 |
Lukoil PJSC, ADR | 13,531 | 1,159,415 |
Sberbank of Russia PJSC, ADR | 153,003 | 2,546,199 |
TCS Group Holding PLC, GDR(c) | 11,687 | 967,397 |
Yandex NV, Class A(b) | 14,161 | 961,957 |
Total | 6,193,045 | |
Singapore 0.4% | ||
BW LPG Ltd. | 74,699 | 431,439 |
Venture Corp., Ltd. | 116,400 | 1,632,726 |
Total | 2,064,165 | |
South Africa 0.3% | ||
Capitec Bank Holdings Ltd. | 4,586 | 509,190 |
Impala Platinum Holdings Ltd. | 31,982 | 576,522 |
Naspers Ltd., Class N | 4,046 | 780,798 |
Total | 1,866,510 | |
South Korea 2.3% | ||
Ecopro BM Co., Ltd. | 1,669 | 420,732 |
Hyundai Home Shopping Network Corp. | 8,054 | 569,640 |
Kakao Corp. | 7,215 | 923,628 |
KakaoBank Corp.(b),(d),(e) | 863 | 29,261 |
NAVER Corp. | 2,186 | 823,907 |
Samsung Biologics Co., Ltd.(b) | 614 | 475,033 |
Samsung Electro-Mechanics Co., Ltd. | 5,630 | 940,354 |
Samsung Electronics Co., Ltd. | 82,124 | 5,612,058 |
Samsung SDI Co., Ltd. | 1,174 | 757,863 |
SK Hynix, Inc. | 15,978 | 1,564,188 |
Youngone Corp. | 28,341 | 981,970 |
Total | 13,098,634 | |
Spain 0.2% | ||
ACS Actividades de Construccion y Servicios SA | 30,429 | 800,384 |
Tecnicas Reunidas SA(b) | 26,870 | 227,181 |
Total | 1,027,565 | |
Sweden 0.6% | ||
Granges AB | 49,561 | 655,179 |
Samhallsbyggnadsbolaget i Norden AB | 380,883 | 1,908,309 |
Sandvik AB | 26,636 | 694,568 |
Total | 3,258,056 |
Columbia Global Opportunities Fund | Annual Report 2021 | 11 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Switzerland 0.8% | ||
Landis+Gyr Group AG(b) | 13,015 | 1,030,109 |
Nestlé SA, Registered Shares | 8,440 | 1,068,754 |
Roche Holding AG, Genusschein Shares | 6,168 | 2,382,774 |
Total | 4,481,637 | |
Taiwan 2.4% | ||
Fubon Financial Holding Co., Ltd. | 679,000 | 1,825,261 |
MediaTek, Inc. | 58,000 | 1,896,475 |
Parade Technologies Ltd. | 31,000 | 1,903,595 |
Sea Ltd. ADR(b) | 5,240 | 1,447,078 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 254,530 | 5,319,550 |
Tripod Technology Corp. | 241,000 | 1,036,301 |
Total | 13,428,260 | |
Thailand 0.1% | ||
Muangthai Capital PCL, Foreign Registered Shares | 445,800 | 811,854 |
United Kingdom 3.1% | ||
AstraZeneca PLC, ADR | 31,430 | 1,799,053 |
BP PLC | 125,848 | 505,157 |
British American Tobacco PLC | 47,930 | 1,782,631 |
BT Group PLC(b) | 158,844 | 382,613 |
Crest Nicholson Holdings PLC(b) | 96,368 | 555,631 |
DCC PLC | 20,571 | 1,722,272 |
JD Sports Fashion PLC | 117,297 | 1,461,543 |
John Wood Group PLC(b) | 109,842 | 332,730 |
Just Group PLC(b) | 380,845 | 527,856 |
Liberty Global PLC, Class C(b) | 75,006 | 2,014,661 |
Royal Dutch Shell PLC, Class B | 103,289 | 2,040,905 |
TP Icap Group PLC | 653,853 | 1,778,085 |
Vodafone Group PLC | 1,202,709 | 1,933,899 |
WPP PLC | 50,098 | 647,919 |
Total | 17,484,955 | |
United States 38.4% | ||
AbbVie, Inc. | 29,358 | 3,414,335 |
ACADIA Pharmaceuticals, Inc.(b) | 10,997 | 237,865 |
Acushnet Holdings Corp. | 6,541 | 335,095 |
Adobe, Inc.(b) | 5,971 | 3,711,753 |
Aerie Pharmaceuticals, Inc.(b) | 12,967 | 204,619 |
AGCO Corp. | 18,645 | 2,463,191 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Allstate Corp. (The) | 22,618 | 2,941,471 |
Alphabet, Inc., Class C(b) | 4,088 | 11,055,669 |
Amazon.com, Inc.(b) | 2,708 | 9,011,114 |
Ameren Corp. | 29,853 | 2,505,264 |
Apple, Inc. | 56,186 | 8,195,290 |
Applied Materials, Inc. | 18,444 | 2,580,869 |
Array Technologies, Inc.(b) | 11,174 | 151,296 |
Ascent Resources, Class B(b),(d),(e),(f) | 195,286 | 43,744 |
Aspen Technology, Inc.(b) | 1,956 | 286,085 |
Avaya Holdings Corp.(b) | 28,419 | 688,308 |
Avista Corp. | 21,237 | 909,581 |
Axalta Coating Systems Ltd.(b) | 6,476 | 194,928 |
Axos Financial, Inc.(b) | 10,577 | 506,109 |
Bank of America Corp. | 110,243 | 4,228,922 |
BellRing Brands, Inc., Class A(b) | 13,346 | 441,352 |
Bill.com Holdings, Inc.(b) | 1,071 | 221,504 |
BioMarin Pharmaceutical, Inc.(b) | 14,041 | 1,077,366 |
BlackRock, Inc. | 3,884 | 3,368,088 |
Bloom Energy Corp., Class A(b) | 8,032 | 175,098 |
Broadcom, Inc. | 8,369 | 4,062,313 |
Burford Capital Ltd. | 91,396 | 987,077 |
Carriage Services, Inc. | 21,994 | 817,737 |
Centene Corp.(b) | 38,706 | 2,655,619 |
Charles Schwab Corp. (The) | 41,979 | 2,852,473 |
Cisco Systems, Inc. | 65,104 | 3,604,809 |
Cohu, Inc.(b) | 10,966 | 388,306 |
Comcast Corp., Class A | 69,743 | 4,102,981 |
CONMED Corp. | 6,764 | 933,026 |
ConocoPhillips Co. | 37,455 | 2,099,727 |
Coupang, Inc.(b) | 7,264 | 263,828 |
Diamond Resorts International, Inc. Escrow(b),(d),(e) | 1,845 | — |
Diversified Energy Co. PLC | 440,297 | 644,506 |
Doximity, Inc., Class A(b) | 3,143 | 194,552 |
DTE Energy Co. | 22,444 | 2,633,130 |
Electronic Arts, Inc. | 18,926 | 2,724,587 |
Eli Lilly & Co. | 14,043 | 3,419,471 |
Emerald Holding, Inc.(b) | 72,821 | 287,643 |
Endeavor Group Holdings, Inc., Class A(b) | 10,888 | 279,277 |
Envestnet, Inc.(b) | 3,708 | 278,953 |
12 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Essent Group Ltd. | 13,224 | 597,328 |
Evo Payments, Inc., Class A(b) | 25,727 | 751,228 |
Exact Sciences Corp.(b) | 8,574 | 924,620 |
Extra Space Storage, Inc. | 15,557 | 2,709,096 |
Fiserv, Inc.(b) | 22,184 | 2,553,600 |
FTI Consulting, Inc.(b) | 2,748 | 400,384 |
Gap, Inc. (The) | 59,730 | 1,742,324 |
General Motors Co.(b) | 35,424 | 2,013,500 |
Hanover Insurance Group, Inc. (The) | 3,709 | 504,053 |
Home Depot, Inc. (The) | 12,095 | 3,969,458 |
Horizon Therapeutics PLC(b) | 9,724 | 972,594 |
Houlihan Lokey, Inc. | 9,329 | 831,214 |
Howmet Aerospace, Inc.(b) | 53,354 | 1,751,078 |
ICF International, Inc. | 2,910 | 266,469 |
Insmed, Inc.(b) | 16,873 | 415,076 |
Integer Holdings Corp.(b) | 9,720 | 951,491 |
Intercontinental Exchange, Inc. | 18,674 | 2,237,705 |
Intuit, Inc. | 5,597 | 2,966,242 |
IQVIA Holdings, Inc.(b) | 9,917 | 2,456,441 |
Johnson & Johnson | 28,060 | 4,831,932 |
KBR, Inc. | 9,967 | 385,723 |
Kontoor Brands, Inc. | 10,822 | 599,322 |
Live Oak Bancshares, Inc. | 2,671 | 160,768 |
Livent Corp.(b) | 59,207 | 1,155,129 |
Masco Corp. | 30,962 | 1,848,741 |
MasterCard, Inc., Class A | 10,647 | 4,109,103 |
Matthews International Corp., Class A | 23,695 | 819,847 |
Medpace Holdings, Inc.(b) | 5,142 | 904,683 |
Medtronic PLC | 26,149 | 3,433,625 |
Microsoft Corp. | 45,902 | 13,077,939 |
Mirati Therapeutics, Inc.(b) | 2,058 | 329,403 |
Moelis & Co., ADR, Class A | 16,466 | 975,611 |
Mondelez International, Inc., Class A | 43,374 | 2,743,839 |
MSA Safety, Inc. | 1,627 | 267,609 |
Natus Medical, Inc.(b) | 23,773 | 634,739 |
nCino, Inc.(b) | 5,449 | 346,393 |
Newpark Resources, Inc.(b) | 297,045 | 959,455 |
Novavax, Inc.(b) | 1,075 | 192,780 |
NVIDIA Corp. | 17,144 | 3,342,909 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Patterson Companies, Inc. | 20,756 | 646,134 |
Philip Morris International, Inc. | 31,147 | 3,117,503 |
Pioneer Natural Resources Co. | 11,577 | 1,682,949 |
Primo Water Corp. | 90,842 | 1,501,618 |
Procter & Gamble Co. (The) | 28,822 | 4,099,353 |
QTS Realty Trust Inc., Class A | 8,570 | 665,975 |
Quanex Building Products Corp. | 30,692 | 762,389 |
Quanterix Corp.(b) | 4,216 | 224,080 |
Quotient Ltd.(b) | 52,194 | 177,982 |
Regis Corp.(b) | 45,071 | 359,216 |
Renewable Energy Group, Inc.(b) | 8,769 | 537,101 |
Revolution Medicines, Inc.(b) | 10,389 | 297,541 |
Sage Therapeutics, Inc.(b) | 9,334 | 408,176 |
Sandy Spring Bancorp, Inc. | 15,653 | 651,008 |
Schnitzer Steel Industries, Inc., Class A | 18,231 | 955,669 |
SiTime Corp.(b) | 2,457 | 333,267 |
Southwest Airlines Co.(b) | 38,216 | 1,930,672 |
Square, Inc., Class A(b) | 7,611 | 1,881,896 |
State Street Corp. | 36,226 | 3,156,734 |
Stryker Corp. | 11,188 | 3,031,277 |
SunPower Corp.(b) | 22,349 | 553,585 |
Target Corp. | 10,401 | 2,715,181 |
TE Connectivity Ltd. | 17,851 | 2,632,487 |
TechTarget, Inc.(b) | 6,797 | 496,725 |
Teradata Corp.(b) | 6,749 | 335,155 |
TJX Companies, Inc. (The) | 36,013 | 2,478,055 |
TopBuild Corp.(b) | 1,583 | 320,858 |
Trane Technologies PLC | 12,611 | 2,567,726 |
Ulta Beauty, Inc.(b) | 6,555 | 2,201,169 |
Under Armour, Inc., Class A(b) | 10,896 | 222,823 |
Union Pacific Corp. | 12,886 | 2,818,941 |
United Parcel Service, Inc., Class B | 14,964 | 2,863,511 |
Utz Brands, Inc. | 14,600 | 330,544 |
Virtu Financial, Inc. Class A | 29,262 | 753,204 |
Vishay Intertechnology, Inc. | 31,139 | 689,106 |
Voya Financial, Inc. | 9,032 | 581,661 |
Wendy’s Co. (The) | 11,654 | 270,489 |
WillScot Mobile Mini Holdings Corp.(b) | 25,372 | 728,430 |
Wingstop, Inc. | 4,675 | 800,874 |
Columbia Global Opportunities Fund | Annual Report 2021 | 13 |
July 31, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Zions Bancorp | 27,546 | 1,436,524 |
Total | 214,529,970 | |
Uruguay 0.1% | ||
Dlocal Ltd.(b) | 6,004 | 271,021 |
Virgin Islands 0.1% | ||
Fix Price Group Ltd., GDR(b),(c) | 95,918 | 733,293 |
Total Common Stocks (Cost $288,509,805) | 392,184,634 | |
Exchange-Traded Equity Funds 2.1% | ||
Shares | Value ($) | |
United States 2.1% | ||
iShares Latin America 40 ETF | 195,369 | 5,802,459 |
iShares MSCI Canada ETF | 156,328 | 5,835,724 |
Total | 11,638,183 | |
Total Exchange-Traded Equity Funds (Cost $9,203,406) | 11,638,183 |
Foreign Government Obligations(g),(h) 6.9% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Austria 0.1% | ||||
Republic of Austria Government Bond(c) | ||||
10/20/2026 | 0.750% | EUR | 530,000 | 675,149 |
Belgium 0.2% | ||||
Kingdom of Belgium Government Bond(c) | ||||
03/28/2035 | 5.000% | EUR | 589,000 | 1,170,808 |
Chile 0.6% | ||||
Bonos de la Tesoreria de la Republica en pesos | ||||
03/01/2026 | 4.500% | CLP | 1,900,000,000 | 2,636,118 |
Bonos de la Tesoreria de la Republica en pesos(c) | ||||
09/01/2030 | 4.700% | CLP | 640,000,000 | 878,939 |
Total | 3,515,057 | |||
China 1.4% | ||||
China Development Bank | ||||
06/18/2030 | 3.090% | CNY | 17,000,000 | 2,590,063 |
China Government Bond | ||||
11/21/2029 | 3.130% | CNY | 30,220,000 | 4,754,128 |
05/21/2030 | 2.680% | CNY | 5,000,000 | 758,990 |
Total | 8,103,181 |
Foreign Government Obligations(g),(h) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
France 0.2% | ||||
French Republic Government Bond OAT(c) | ||||
05/25/2045 | 3.250% | EUR | 644,000 | 1,240,144 |
Indonesia 0.2% | ||||
Indonesia Treasury Bond | ||||
09/15/2030 | 7.000% | IDR | 12,104,000,000 | 879,468 |
Japan 1.0% | ||||
Japan Government 30-Year Bond | ||||
03/20/2047 | 0.800% | JPY | 363,100,000 | 3,527,322 |
06/20/2048 | 0.700% | JPY | 161,650,000 | 1,527,048 |
09/20/2048 | 0.900% | JPY | 78,600,000 | 777,508 |
Total | 5,831,878 | |||
Mexico 1.2% | ||||
Mexican Bonos | ||||
05/31/2029 | 8.500% | MXN | 106,637,400 | 5,897,503 |
Mexico Government International Bond | ||||
05/29/2031 | 7.750% | MXN | 12,500,000 | 666,806 |
Total | 6,564,309 | |||
Netherlands 0.3% | ||||
Netherlands Government Bond(c) | ||||
07/15/2026 | 0.500% | EUR | 1,500,000 | 1,889,127 |
New Zealand 0.3% | ||||
New Zealand Government Bond | ||||
05/15/2031 | 1.500% | NZD | 2,106,000 | 1,463,459 |
Poland 0.6% | ||||
Republic of Poland Government Bond | ||||
07/25/2026 | 2.500% | PLN | 7,200,000 | 2,000,021 |
10/25/2029 | 2.750% | PLN | 4,500,000 | 1,287,928 |
Total | 3,287,949 | |||
South Korea 0.3% | ||||
Korea Treasury Bond | ||||
06/10/2029 | 1.875% | KRW | 1,709,000,000 | 1,493,594 |
Spain 0.3% | ||||
Spain Government Bond(c) | ||||
04/30/2030 | 0.500% | EUR | 780,000 | 960,138 |
07/30/2041 | 4.700% | EUR | 225,000 | 457,015 |
Total | 1,417,153 |
14 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Foreign Government Obligations(g),(h) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Kingdom 0.2% | ||||
United Kingdom Gilt(c) | ||||
01/22/2044 | 3.250% | GBP | 612,297 | 1,239,156 |
Total Foreign Government Obligations (Cost $36,732,789) | 38,770,432 | |||
Inflation-Indexed Bonds(g) 0.9% | ||||
United Kingdom 0.1% | ||||
United Kingdom Gilt Inflation-Linked Bond(c) | ||||
03/22/2052 | 0.250% | GBP | 205,781 | 622,957 |
United States 0.8% | ||||
U.S. Treasury Inflation-Indexed Bond | ||||
07/15/2027 | 0.375% | 1,904,429 | 2,171,954 | |
01/15/2028 | 0.500% | 1,803,522 | 2,072,592 | |
Total | 4,244,546 | |||
Total Inflation-Indexed Bonds (Cost $4,022,145) | 4,867,503 |
Preferred Stocks 0.4% | |||
Issuer | Shares | Value ($) | |
Brazil 0.2% | |||
Azul SA(b) | 142,374 | 1,063,380 | |
Germany 0.2% | |||
Porsche Automobil Holding SE | 9,013 | 975,488 | |
Total Preferred Stocks (Cost $1,527,557) | 2,038,868 |
Residential Mortgage-Backed Securities - Agency 3.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United States 3.5% | ||||
Government National Mortgage Association TBA(i) | ||||
08/19/2051 | 3.500% | 3,700,000 | 3,885,434 | |
08/19/2051 | 4.000% | 2,280,000 | 2,411,011 | |
Uniform Mortgage-Backed Security TBA(i) | ||||
08/17/2036 | 2.500% | 1,000,000 | 1,047,624 | |
08/17/2036 - 08/12/2051 | 3.000% | 2,725,000 | 2,859,951 | |
08/12/2051 | 3.500% | 1,350,000 | 1,430,736 | |
08/12/2051 | 4.000% | 1,175,000 | 1,255,414 | |
08/12/2051 | 4.500% | 1,500,000 | 1,616,307 | |
08/12/2051 | 5.000% | 4,800,000 | 5,252,250 | |
Total | 19,758,727 | |||
Total Residential Mortgage-Backed Securities - Agency (Cost $19,722,219) | 19,758,727 |
Money Market Funds 17.4% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(a),(j) | 97,362,467 | 97,352,731 |
Total Money Market Funds (Cost $97,357,237) | 97,352,731 | |
Total Investments in Securities (Cost $460,838,902) | 571,621,917 | |
Other Assets & Liabilities, Net | (12,932,417) | |
Net Assets | $558,689,500 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
11,112,104,000 IDR | 763,246 USD | Citi | 08/18/2021 | — | (4,510) |
53,000 MXN | 2,655 USD | Citi | 08/18/2021 | — | (2) |
27,406 USD | 31,374,000 KRW | Citi | 08/18/2021 | — | (169) |
2,599,574,000 CLP | 3,460,746 USD | Goldman Sachs International | 08/18/2021 | 36,876 | — |
340,047 USD | 1,435,000 MYR | Goldman Sachs International | 08/18/2021 | — | (904) |
126,882,000 MXN | 6,355,517 USD | HSBC | 08/18/2021 | — | (5,434) |
6,558,000 NOK | 736,497 USD | HSBC | 08/18/2021 | — | (5,841) |
2,962,000 NZD | 2,070,254 USD | HSBC | 08/18/2021 | 6,732 | — |
12,751,000 PLN | 3,311,088 USD | HSBC | 08/18/2021 | 1,113 | — |
8,678,000 SEK | 1,011,949 USD | HSBC | 08/18/2021 | 3,739 | — |
13,215,391 USD | 9,528,000 GBP | HSBC | 08/18/2021 | 29,005 | — |
29,287,708 USD | 3,226,391,365 JPY | HSBC | 08/18/2021 | 125,347 | — |
Columbia Global Opportunities Fund | Annual Report 2021 | 15 |
July 31, 2021
Forward foreign currency exchange contracts (continued) | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
5,382,151 USD | 46,772,803 NOK | HSBC | 08/18/2021 | — | (87,669) |
3,769,024 USD | 5,395,000 NZD | HSBC | 08/18/2021 | — | (10,516) |
276,710 USD | 1,060,000 PLN | HSBC | 08/18/2021 | — | (1,549) |
206,086 USD | 15,300,000 RUB | HSBC | 08/18/2021 | 2,776 | — |
743,045 USD | 6,372,000 SEK | HSBC | 08/18/2021 | — | (2,745) |
228,529 USD | 312,000 SGD | HSBC | 08/18/2021 | 1,733 | — |
327,233 USD | 10,747,000 THB | HSBC | 08/18/2021 | — | (284) |
3,867,943 USD | 108,109,000 TWD | HSBC | 08/18/2021 | 867 | — |
1,459,000 AUD | 1,094,132 USD | Morgan Stanley | 08/18/2021 | 23,357 | — |
4,503,000 CAD | 3,637,852 USD | Morgan Stanley | 08/18/2021 | 28,580 | — |
344,000 CAD | 274,805 USD | Morgan Stanley | 08/18/2021 | — | (920) |
14,599,000 CHF | 15,975,570 USD | Morgan Stanley | 08/18/2021 | — | (147,106) |
2,070,000 DKK | 328,224 USD | Morgan Stanley | 08/18/2021 | — | (1,955) |
3,522,000 EUR | 4,177,977 USD | Morgan Stanley | 08/18/2021 | — | (1,246) |
1,216,000 GBP | 1,697,649 USD | Morgan Stanley | 08/18/2021 | 7,349 | — |
117,000 GBP | 161,124 USD | Morgan Stanley | 08/18/2021 | — | (1,512) |
297,236,000 JPY | 2,684,231 USD | Morgan Stanley | 08/18/2021 | — | (25,490) |
3,423,264,000 KRW | 3,012,535 USD | Morgan Stanley | 08/18/2021 | 40,765 | — |
8,843,000 NOK | 1,035,154 USD | Morgan Stanley | 08/18/2021 | 34,164 | — |
123,585,000 TWD | 4,433,543 USD | Morgan Stanley | 08/18/2021 | 10,905 | — |
13,728,000 TWD | 490,347 USD | Morgan Stanley | 08/18/2021 | — | (926) |
8,965,201 USD | 11,916,000 AUD | Morgan Stanley | 08/18/2021 | — | (219,930) |
3,085,894 USD | 3,850,000 CAD | Morgan Stanley | 08/18/2021 | — | (18) |
2,954,097 USD | 2,711,000 CHF | Morgan Stanley | 08/18/2021 | 39,846 | — |
560,756 USD | 3,511,000 DKK | Morgan Stanley | 08/18/2021 | — | (727) |
81,356 USD | 69,000 EUR | Morgan Stanley | 08/18/2021 | 520 | — |
62,655,157 USD | 52,719,572 EUR | Morgan Stanley | 08/18/2021 | — | (97,849) |
109,154 USD | 126,201,000 KRW | Morgan Stanley | 08/18/2021 | 402 | — |
2,242,541 USD | 19,026,000 SEK | Morgan Stanley | 08/18/2021 | — | (32,099) |
321,000 CNY | 49,369 USD | Standard Chartered | 08/18/2021 | — | (257) |
8,180,266 USD | 53,184,000 CNY | Standard Chartered | 08/18/2021 | 41,889 | — |
Total | 435,965 | (649,658) |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Australian 10-Year Bond | 351 | 09/2021 | AUD | 51,034,568 | 1,307,650 | — |
Canadian Government 10-Year Bond | 188 | 09/2021 | CAD | 27,825,880 | 589,322 | — |
Euro Buxl | 2 | 09/2021 | EUR | 430,080 | 36,275 | — |
Euro-Bobl | 5 | 09/2021 | EUR | 676,800 | — | (30) |
Euro-BTP | 9 | 09/2021 | EUR | 1,388,520 | 37,402 | — |
Euro-Bund | 9 | 09/2021 | EUR | 1,589,130 | 51,387 | — |
Euro-OAT | 56 | 09/2021 | EUR | 9,076,480 | 246,294 | — |
Japanese 10-Year Government Bond | 14 | 09/2021 | JPY | 2,132,200,000 | 127,000 | — |
Long Gilt | 67 | 09/2021 | GBP | 8,695,930 | 223,638 | — |
Nikkei 225 Index | 88 | 09/2021 | JPY | 1,207,800,000 | — | (378,436) |
S&P/TSX 60 Index | 29 | 09/2021 | CAD | 7,031,920 | 84,520 | — |
U.S. Long Bond | 59 | 09/2021 | USD | 9,718,406 | 547,981 | — |
U.S. Treasury 10-Year Note | 293 | 09/2021 | USD | 39,394,766 | 821,417 | — |
U.S. Treasury 5-Year Note | 255 | 09/2021 | USD | 31,733,555 | 204,673 | — |
U.S. Ultra Treasury Bond | 53 | 09/2021 | USD | 10,575,156 | 880,996 | — |
Total | 5,158,555 | (378,466) |
16 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
EURO STOXX 50 Index | (237) | 09/2021 | EUR | (9,688,560) | — | (141,849) |
Euro-Bund | (22) | 09/2021 | EUR | (3,884,540) | — | (132,423) |
MSCI EAFE Index | (159) | 09/2021 | USD | (18,439,230) | 359,712 | — |
MSCI Emerging Markets Index | (409) | 09/2021 | USD | (26,128,965) | 1,977,270 | — |
Russell 2000 Index E-mini | (34) | 09/2021 | USD | (3,776,720) | 185,386 | — |
S&P 500 Index E-mini | (127) | 09/2021 | USD | (27,873,325) | — | (980,190) |
Total | 2,522,368 | (1,254,462) |
Cleared credit default swap contracts - sell protection | ||||||||||||
Reference entity | Counterparty | Maturity date | Receive fixed rate (%) | Payment frequency | Implied credit spread (%)* | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CDX Emerging Markets Index, Series 35 | Morgan Stanley | 06/20/2026 | 1.000 | Quarterly | 1.637 | USD | 21,145,000 | 64,635 | — | — | 64,635 | — |
Markit CDX North America High Yield Index, Series 36 | Morgan Stanley | 06/20/2026 | 5.000 | Quarterly | 2.919 | USD | 6,148,000 | 114,823 | — | — | 114,823 | — |
Markit CDX North America Investment Grade Index, Series 36 | Morgan Stanley | 06/20/2026 | 1.000 | Quarterly | 0.498 | USD | 25,275,000 | 128,869 | — | — | 128,869 | — |
Markit iTraxx Europe Main Index, Series 35 | Morgan Stanley | 06/20/2026 | 1.000 | Quarterly | 0.467 | EUR | 4,100,000 | 25,169 | — | — | 25,169 | — |
Total | 333,496 | — | — | 333,496 | — |
* | Implied credit spreads, represented in absolute terms, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. |
(a) | 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 July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Capital gain distributions($) | Realized gain (loss)($) | Dividends — affiliated issuers ($) | End of period shares |
Columbia Commodity Strategy Fund, Institutional 3 Class | |||||||||
— | 3,763,744 | — | 1,247,095 | 5,010,839 | — | — | 5,744 | 222,704 | |
Columbia Short-Term Cash Fund, 0.053% | |||||||||
95,776,987 | 294,900,628 | (293,316,963) | (7,921) | 97,352,731 | — | (1,019) | 90,495 | 97,362,467 | |
Total | 95,776,987 | 1,239,174 | 102,363,570 | — | (1,019) | 96,239 |
(b) | Non-income producing investment. |
(c) | 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 July 31, 2021, the total value of these securities amounted to $11,206,664, which represents 2.01% of total net assets. |
(d) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2021, the total value of these securities amounted to $445,547, which represents 0.08% of total net assets. |
(e) | Valuation based on significant unobservable inputs. |
Columbia Global Opportunities Fund | Annual Report 2021 | 17 |
July 31, 2021
(f) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures established by the Fund’s Board of Trustees. At July 31, 2021, the total market value of these securities amounted to $43,744, which represents 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Ascent Resources, Class B | 2/20/2014-03/01/2016 | 195,286 | 8,147 | 43,744 |
(g) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(h) | Principal and interest may not be guaranteed by a governmental entity. |
(i) | Represents a security purchased on a when-issued basis. |
(j) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
ADR | American Depositary Receipt |
GDR | Global Depositary Receipt |
TBA | To Be Announced |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
CLP | Chilean Peso |
CNY | China Yuan Renminbi |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
IDR | Indonesian Rupiah |
JPY | Japanese Yen |
KRW | South Korean Won |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
PLN | Polish Zloty |
RUB | Russian Ruble |
SEK | Swedish Krona |
SGD | Singapore Dollar |
THB | Thailand Baht |
TWD | New Taiwan Dollar |
USD | US Dollar |
18 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
pricing an investment. An investment’s level within the fair value hierarchy is based on the lowest level of any input that is deemed significant to the asset’s or liability’s fair value measurement. The input levels are not necessarily an indication of the risk or liquidity associated with investments at that level. For example, certain U.S. government securities are generally high quality and liquid, however, they are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market.
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Alternative Strategies Funds | 5,010,839 | — | — | 5,010,839 |
Common Stocks | ||||
Argentina | 1,597,851 | — | — | 1,597,851 |
Australia | — | 1,817,030 | — | 1,817,030 |
Bahamas | 474,734 | — | — | 474,734 |
Brazil | 6,172,329 | — | — | 6,172,329 |
Canada | 6,775,955 | — | — | 6,775,955 |
China | 6,972,114 | 14,239,508 | — | 21,211,622 |
Cyprus | 568,828 | — | — | 568,828 |
Denmark | — | 868,042 | — | 868,042 |
Finland | — | 2,217,425 | — | 2,217,425 |
France | 90,662 | 4,816,975 | — | 4,907,637 |
Germany | — | 6,278,841 | — | 6,278,841 |
Hong Kong | — | 4,385,746 | — | 4,385,746 |
Hungary | — | 785,701 | — | 785,701 |
India | 756,863 | 5,464,987 | — | 6,221,850 |
Indonesia | — | 2,689,888 | — | 2,689,888 |
Ireland | 52,317 | 773,952 | — | 826,269 |
Israel | 659,903 | 1,080,263 | — | 1,740,166 |
Italy | — | 2,956,851 | — | 2,956,851 |
Japan | — | 25,639,409 | — | 25,639,409 |
Kazakhstan | — | — | 372,541 | 372,541 |
Malta | — | — | 1 | 1 |
Columbia Global Opportunities Fund | Annual Report 2021 | 19 |
July 31, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Netherlands | 2,449,437 | 6,445,329 | — | 8,894,766 |
Norway | — | 2,388,997 | — | 2,388,997 |
Pakistan | — | 395,733 | — | 395,733 |
Philippines | — | 592,571 | — | 592,571 |
Poland | — | 669,200 | — | 669,200 |
Puerto Rico | 1,485,686 | — | — | 1,485,686 |
Russian Federation | 961,957 | 5,231,088 | — | 6,193,045 |
Singapore | — | 2,064,165 | — | 2,064,165 |
South Africa | — | 1,866,510 | — | 1,866,510 |
South Korea | — | 13,069,373 | 29,261 | 13,098,634 |
Spain | — | 1,027,565 | — | 1,027,565 |
Sweden | — | 3,258,056 | — | 3,258,056 |
Switzerland | — | 4,481,637 | — | 4,481,637 |
Taiwan | 1,447,078 | 11,981,182 | — | 13,428,260 |
Thailand | — | 811,854 | — | 811,854 |
United Kingdom | 3,813,714 | 13,671,241 | — | 17,484,955 |
United States | 213,841,720 | 644,506 | 43,744 | 214,529,970 |
Uruguay | 271,021 | — | — | 271,021 |
Virgin Islands | — | 733,293 | — | 733,293 |
Total Common Stocks | 248,392,169 | 143,346,918 | 445,547 | 392,184,634 |
Exchange-Traded Equity Funds | 11,638,183 | — | — | 11,638,183 |
Foreign Government Obligations | — | 38,770,432 | — | 38,770,432 |
Inflation-Indexed Bonds | — | 4,867,503 | — | 4,867,503 |
Preferred Stocks | ||||
Brazil | 1,063,380 | — | — | 1,063,380 |
Germany | — | 975,488 | — | 975,488 |
Total Preferred Stocks | 1,063,380 | 975,488 | — | 2,038,868 |
Residential Mortgage-Backed Securities - Agency | — | 19,758,727 | — | 19,758,727 |
Money Market Funds | 97,352,731 | — | — | 97,352,731 |
Total Investments in Securities | 363,457,302 | 207,719,068 | 445,547 | 571,621,917 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 435,965 | — | 435,965 |
Futures Contracts | 7,680,923 | — | — | 7,680,923 |
Swap Contracts | — | 333,496 | — | 333,496 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (649,658) | — | (649,658) |
Futures Contracts | (1,632,928) | — | — | (1,632,928) |
Total | 369,505,297 | 207,838,871 | 445,547 | 577,789,715 |
20 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $359,717,921) | $469,258,347 |
Affiliated issuers (cost $101,120,981) | 102,363,570 |
Foreign currency (cost $693,534) | 694,047 |
Margin deposits on: | |
Futures contracts | 8,149,457 |
Swap contracts | 4,024,075 |
Unrealized appreciation on forward foreign currency exchange contracts | 435,965 |
Receivable for: | |
Investments sold | 1,296,751 |
Capital shares sold | 183,813 |
Dividends | 363,516 |
Interest | 284,403 |
Foreign tax reclaims | 282,376 |
Variation margin for futures contracts | 784,533 |
Prepaid expenses | 12,417 |
Total assets | 588,133,270 |
Liabilities | |
Due to custodian | 36 |
Unrealized depreciation on forward foreign currency exchange contracts | 649,658 |
Payable for: | |
Investments purchased | 7,957,847 |
Investments purchased on a delayed delivery basis | 19,749,556 |
Capital shares purchased | 300,300 |
Variation margin for futures contracts | 226,715 |
Variation margin for swap contracts | 52,627 |
Foreign capital gains taxes deferred | 243,714 |
Management services fees | 10,913 |
Distribution and/or service fees | 3,756 |
Transfer agent fees | 42,707 |
Compensation of board members | 116,967 |
Other expenses | 88,974 |
Total liabilities | 29,443,770 |
Net assets applicable to outstanding capital stock | $558,689,500 |
Represented by | |
Paid in capital | 423,876,798 |
Total distributable earnings (loss) | 134,812,702 |
Total - representing net assets applicable to outstanding capital stock | $558,689,500 |
Columbia Global Opportunities Fund | Annual Report 2021 | 21 |
July 31, 2021
Class A | |
Net assets | $511,404,979 |
Shares outstanding | 31,018,455 |
Net asset value per share | $16.49 |
Maximum sales charge | 5.75% |
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) | $17.50 |
Advisor Class | |
Net assets | $7,407,477 |
Shares outstanding | 445,137 |
Net asset value per share | $16.64 |
Class C | |
Net assets | $7,561,514 |
Shares outstanding | 480,026 |
Net asset value per share | $15.75 |
Institutional Class | |
Net assets | $24,908,839 |
Shares outstanding | 1,500,801 |
Net asset value per share | $16.60 |
Institutional 2 Class | |
Net assets | $5,688,436 |
Shares outstanding | 340,720 |
Net asset value per share | $16.70 |
Institutional 3 Class | |
Net assets | $90,091 |
Shares outstanding | 5,421 |
Net asset value per share | $16.62 |
Class R | |
Net assets | $1,628,164 |
Shares outstanding | 99,913 |
Net asset value per share | $16.30 |
22 | Columbia Global Opportunities Fund | Annual Report 2021 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $7,352,770 |
Dividends — affiliated issuers | 96,239 |
Interest | 1,567,078 |
Foreign taxes withheld | (545,914) |
Total income | 8,470,173 |
Expenses: | |
Management services fees | 3,877,653 |
Distribution and/or service fees | |
Class A | 1,246,326 |
Class C | 93,643 |
Class R | 7,646 |
Transfer agent fees | |
Class A | 471,912 |
Advisor Class | 6,738 |
Class C | 8,938 |
Institutional Class | 21,609 |
Institutional 2 Class | 3,172 |
Institutional 3 Class | 17 |
Class R | 1,445 |
Compensation of board members | 53,349 |
Custodian fees | 154,421 |
Printing and postage fees | 47,623 |
Registration fees | 113,738 |
Audit fees | 81,772 |
Legal fees | 13,736 |
Interest on collateral | 40,774 |
Compensation of chief compliance officer | 108 |
Other | 45,468 |
Total expenses | 6,290,088 |
Net investment income | 2,180,085 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 58,989,641 |
Investments — affiliated issuers | (1,019) |
Foreign currency translations | 471,614 |
Forward foreign currency exchange contracts | 1,481,790 |
Futures contracts | (34,603,775) |
Options purchased | (69,738) |
Options contracts written | 86,594 |
Swap contracts | 3,801,761 |
Net realized gain | 30,156,868 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 50,014,287 |
Investments — affiliated issuers | 1,239,174 |
Foreign currency translations | (229,627) |
Forward foreign currency exchange contracts | (3,734,442) |
Futures contracts | 8,547,667 |
Options contracts written | 332 |
Swap contracts | (862,243) |
Foreign capital gains tax | (84,261) |
Net change in unrealized appreciation (depreciation) | 54,890,887 |
Net realized and unrealized gain | 85,047,755 |
Net increase in net assets resulting from operations | $87,227,840 |
Columbia Global Opportunities Fund | Annual Report 2021 | 23 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $2,180,085 | $4,785,460 |
Net realized gain | 30,156,868 | 10,103,740 |
Net change in unrealized appreciation (depreciation) | 54,890,887 | 17,328,277 |
Net increase in net assets resulting from operations | 87,227,840 | 32,217,477 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (21,454,859) | (8,666,377) |
Advisor Class | (317,982) | (122,519) |
Class C | (418,910) | (105,376) |
Institutional Class | (998,219) | (468,010) |
Institutional 2 Class | (210,419) | (85,557) |
Institutional 3 Class | (3,600) | (3,106) |
Class R | (62,951) | (31,573) |
Total distributions to shareholders | (23,466,940) | (9,482,518) |
Decrease in net assets from capital stock activity | (25,376,365) | (53,379,455) |
Total increase (decrease) in net assets | 38,384,535 | (30,644,496) |
Net assets at beginning of year | 520,304,965 | 550,949,461 |
Net assets at end of year | $558,689,500 | $520,304,965 |
24 | Columbia Global Opportunities Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 728,805 | 11,493,464 | 519,905 | 7,278,942 |
Distributions reinvested | 1,377,172 | 21,332,395 | 602,207 | 8,611,564 |
Redemptions | (3,600,013) | (56,423,070) | (4,608,075) | (64,114,616) |
Net decrease | (1,494,036) | (23,597,211) | (3,485,963) | (48,224,110) |
Advisor Class | ||||
Subscriptions | 76,531 | 1,208,380 | 112,551 | 1,560,180 |
Distributions reinvested | 19,564 | 305,393 | 8,479 | 122,094 |
Redemptions | (81,361) | (1,303,066) | (87,306) | (1,186,316) |
Net increase | 14,734 | 210,707 | 33,724 | 495,958 |
Class C | ||||
Subscriptions | 59,216 | 888,775 | 56,240 | 752,577 |
Distributions reinvested | 28,116 | 418,082 | 7,479 | 102,908 |
Redemptions | (379,252) | (5,737,551) | (257,445) | (3,441,733) |
Net decrease | (291,920) | (4,430,694) | (193,726) | (2,586,248) |
Institutional Class | ||||
Subscriptions | 554,485 | 8,751,937 | 608,348 | 8,464,157 |
Distributions reinvested | 59,271 | 922,845 | 30,612 | 439,888 |
Redemptions | (520,614) | (8,195,582) | (807,387) | (11,347,140) |
Net increase (decrease) | 93,142 | 1,479,200 | (168,427) | (2,443,095) |
Institutional 2 Class | ||||
Subscriptions | 111,477 | 1,769,351 | 84,657 | 1,192,076 |
Distributions reinvested | 13,437 | 210,419 | 5,920 | 85,492 |
Redemptions | (69,280) | (1,111,991) | (78,038) | (1,091,865) |
Net increase | 55,634 | 867,779 | 12,539 | 185,703 |
Institutional 3 Class | ||||
Subscriptions | 1,289 | 20,056 | 2,090 | 29,669 |
Distributions reinvested | 221 | 3,448 | 212 | 3,042 |
Redemptions | (1,383) | (22,185) | (6,855) | (100,968) |
Net increase (decrease) | 127 | 1,319 | (4,553) | (68,257) |
Class R | ||||
Subscriptions | 11,487 | 178,229 | 41,953 | 580,464 |
Distributions reinvested | 4,034 | 61,841 | 1,271 | 18,014 |
Redemptions | (9,339) | (147,535) | (94,204) | (1,337,884) |
Net increase (decrease) | 6,182 | 92,535 | (50,980) | (739,406) |
Total net decrease | (1,616,137) | (25,376,365) | (3,857,386) | (53,379,455) |
Columbia Global Opportunities Fund | Annual Report 2021 | 25 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 7/31/2021 | $14.66 | 0.06 | 2.46 | 2.52 | (0.34) | (0.35) | (0.69) |
Year Ended 7/31/2020 | $14.01 | 0.13 | 0.77 | 0.90 | (0.25) | — | (0.25) |
Year Ended 7/31/2019 | $13.80 | 0.23 | 0.03 | 0.26 | (0.05) | — | (0.05) |
Year Ended 7/31/2018 | $12.99 | 0.10 | 0.71 | 0.81 | — | — | — |
Year Ended 7/31/2017 | $12.09 | 0.14 | 1.08 | 1.22 | (0.32) | — | (0.32) |
Advisor Class | |||||||
Year Ended 7/31/2021 | $14.79 | 0.10 | 2.47 | 2.57 | (0.37) | (0.35) | (0.72) |
Year Ended 7/31/2020 | $14.13 | 0.18 | 0.78 | 0.96 | (0.30) | — | (0.30) |
Year Ended 7/31/2019 | $13.93 | 0.25 | 0.03 | 0.28 | (0.08) | — | (0.08) |
Year Ended 7/31/2018 | $13.07 | 0.16 | 0.70 | 0.86 | — | — | — |
Year Ended 7/31/2017 | $12.17 | 0.16 | 1.09 | 1.25 | (0.35) | — | (0.35) |
Class C | |||||||
Year Ended 7/31/2021 | $14.04 | (0.05) | 2.34 | 2.29 | (0.23) | (0.35) | (0.58) |
Year Ended 7/31/2020 | $13.40 | 0.02 | 0.74 | 0.76 | (0.12) | — | (0.12) |
Year Ended 7/31/2019 | $13.25 | 0.12 | 0.03 | 0.15 | — | — | — |
Year Ended 7/31/2018 | $12.57 | (0.00)(e) | 0.68 | 0.68 | — | — | — |
Year Ended 7/31/2017 | $11.71 | 0.04 | 1.06 | 1.10 | (0.24) | — | (0.24) |
Institutional Class | |||||||
Year Ended 7/31/2021 | $14.75 | 0.10 | 2.47 | 2.57 | (0.37) | (0.35) | (0.72) |
Year Ended 7/31/2020 | $14.10 | 0.17 | 0.78 | 0.95 | (0.30) | — | (0.30) |
Year Ended 7/31/2019 | $13.89 | 0.27 | 0.02 | 0.29 | (0.08) | — | (0.08) |
Year Ended 7/31/2018 | $13.04 | 0.14 | 0.71 | 0.85 | — | — | — |
Year Ended 7/31/2017 | $12.14 | 0.17 | 1.08 | 1.25 | (0.35) | — | (0.35) |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $14.84 | 0.11 | 2.48 | 2.59 | (0.38) | (0.35) | (0.73) |
Year Ended 7/31/2020 | $14.18 | 0.18 | 0.78 | 0.96 | (0.30) | — | (0.30) |
Year Ended 7/31/2019 | $13.97 | 0.27 | 0.02 | 0.29 | (0.08) | — | (0.08) |
Year Ended 7/31/2018 | $13.11 | 0.13 | 0.73 | 0.86 | — | — | — |
Year Ended 7/31/2017 | $12.20 | 0.15 | 1.12 | 1.27 | (0.36) | — | (0.36) |
26 | Columbia Global Opportunities Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Year Ended 7/31/2021 | $16.49 | 17.46% | 1.16%(c) | 1.16%(c) | 0.40% | 107% | $511,405 |
Year Ended 7/31/2020 | $14.66 | 6.49% | 1.15%(c) | 1.15%(c) | 0.92% | 125% | $476,670 |
Year Ended 7/31/2019 | $14.01 | 1.88% | 1.13% | 1.13% | 1.70% | 104% | $504,182 |
Year Ended 7/31/2018 | $13.80 | 6.24% | 1.10%(d) | 1.10%(d) | 0.72% | 97% | $556,184 |
Year Ended 7/31/2017 | $12.99 | 10.43% | 1.12% | 1.12% | 1.11% | 103% | $571,392 |
Advisor Class | |||||||
Year Ended 7/31/2021 | $16.64 | 17.70% | 0.91%(c) | 0.91%(c) | 0.65% | 107% | $7,407 |
Year Ended 7/31/2020 | $14.79 | 6.83% | 0.90%(c) | 0.90%(c) | 1.27% | 125% | $6,365 |
Year Ended 7/31/2019 | $14.13 | 2.06% | 0.88% | 0.88% | 1.79% | 104% | $5,606 |
Year Ended 7/31/2018 | $13.93 | 6.58% | 0.85%(d) | 0.85%(d) | 1.20% | 97% | $5,113 |
Year Ended 7/31/2017 | $13.07 | 10.63% | 0.88% | 0.88% | 1.27% | 103% | $169 |
Class C | |||||||
Year Ended 7/31/2021 | $15.75 | 16.56% | 1.90%(c) | 1.90%(c) | (0.36%) | 107% | $7,562 |
Year Ended 7/31/2020 | $14.04 | 5.68% | 1.90%(c) | 1.90%(c) | 0.13% | 125% | $10,839 |
Year Ended 7/31/2019 | $13.40 | 1.13% | 1.88% | 1.88% | 0.95% | 104% | $12,935 |
Year Ended 7/31/2018 | $13.25 | 5.41% | 1.85%(d) | 1.85%(d) | (0.02%) | 97% | $17,299 |
Year Ended 7/31/2017 | $12.57 | 9.59% | 1.87% | 1.87% | 0.36% | 103% | $26,322 |
Institutional Class | |||||||
Year Ended 7/31/2021 | $16.60 | 17.75% | 0.91%(c) | 0.91%(c) | 0.65% | 107% | $24,909 |
Year Ended 7/31/2020 | $14.75 | 6.78% | 0.90%(c) | 0.90%(c) | 1.18% | 125% | $20,763 |
Year Ended 7/31/2019 | $14.10 | 2.14% | 0.88% | 0.88% | 1.95% | 104% | $22,219 |
Year Ended 7/31/2018 | $13.89 | 6.52% | 0.85%(d) | 0.85%(d) | 0.99% | 97% | $22,863 |
Year Ended 7/31/2017 | $13.04 | 10.66% | 0.88% | 0.88% | 1.38% | 103% | $18,332 |
Institutional 2 Class | |||||||
Year Ended 7/31/2021 | $16.70 | 17.75% | 0.88%(c) | 0.88%(c) | 0.69% | 107% | $5,688 |
Year Ended 7/31/2020 | $14.84 | 6.86% | 0.86%(c) | 0.86%(c) | 1.27% | 125% | $4,229 |
Year Ended 7/31/2019 | $14.18 | 2.17% | 0.84% | 0.84% | 1.97% | 104% | $3,864 |
Year Ended 7/31/2018 | $13.97 | 6.56% | 0.81%(d) | 0.81%(d) | 0.97% | 97% | $2,522 |
Year Ended 7/31/2017 | $13.11 | 10.77% | 0.83% | 0.83% | 1.24% | 103% | $713 |
Columbia Global Opportunities Fund | Annual Report 2021 | 27 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $14.77 | 0.11 | 2.47 | 2.58 | (0.38) | (0.35) | (0.73) |
Year Ended 7/31/2020 | $14.12 | 0.23 | 0.73 | 0.96 | (0.31) | — | (0.31) |
Year Ended 7/31/2019 | $13.91 | 0.25 | 0.05 | 0.30 | (0.09) | — | (0.09) |
Year Ended 7/31/2018 | $13.05 | 0.15 | 0.71 | 0.86 | — | — | — |
Year Ended 7/31/2017(f) | $12.11 | 0.07 | 0.87 | 0.94 | — | — | — |
Class R | |||||||
Year Ended 7/31/2021 | $14.50 | 0.02 | 2.43 | 2.45 | (0.30) | (0.35) | (0.65) |
Year Ended 7/31/2020 | $13.85 | 0.07 | 0.79 | 0.86 | (0.21) | — | (0.21) |
Year Ended 7/31/2019 | $13.64 | 0.20 | 0.02 | 0.22 | (0.01) | — | (0.01) |
Year Ended 7/31/2018 | $12.87 | 0.06 | 0.71 | 0.77 | — | — | — |
Year Ended 7/31/2017 | $11.99 | 0.08 | 1.09 | 1.17 | (0.29) | — | (0.29) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interest on collateral expense. For the periods indicated below, if interest on collateral expense had been excluded, expenses would have been lower by: |
Class | 7/31/2021 | 7/31/2020 |
Class A | 0.01% | less than 0.01% |
Advisor Class | 0.01% | less than 0.01% |
Class C | 0.01% | less than 0.01% |
Institutional Class | 0.01% | less than 0.01% |
Institutional 2 Class | 0.01% | less than 0.01% |
Institutional 3 Class | 0.01% | —% |
Class R | 0.01% | less than 0.01% |
(d) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | Rounds to zero. |
(f) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(g) | Annualized. |
28 | Columbia Global Opportunities Fund | Annual Report 2021 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Year Ended 7/31/2021 | $16.62 | 17.83% | 0.83%(c) | 0.83%(c) | 0.72% | 107% | $90 |
Year Ended 7/31/2020 | $14.77 | 6.86% | 0.80% | 0.80% | 1.60% | 125% | $78 |
Year Ended 7/31/2019 | $14.12 | 2.21% | 0.81% | 0.81% | 1.78% | 104% | $139 |
Year Ended 7/31/2018 | $13.91 | 6.59% | 0.78%(d) | 0.78%(d) | 1.07% | 97% | $3 |
Year Ended 7/31/2017(f) | $13.05 | 7.76% | 0.81%(g) | 0.81%(g) | 1.42%(g) | 103% | $3 |
Class R | |||||||
Year Ended 7/31/2021 | $16.30 | 17.19% | 1.41%(c) | 1.41%(c) | 0.15% | 107% | $1,628 |
Year Ended 7/31/2020 | $14.50 | 6.23% | 1.39%(c) | 1.39%(c) | 0.52% | 125% | $1,359 |
Year Ended 7/31/2019 | $13.85 | 1.63% | 1.38% | 1.38% | 1.49% | 104% | $2,004 |
Year Ended 7/31/2018 | $13.64 | 5.98% | 1.35%(d) | 1.35%(d) | 0.47% | 97% | $3,277 |
Year Ended 7/31/2017 | $12.87 | 10.08% | 1.38% | 1.38% | 0.62% | 103% | $3,086 |
Columbia Global Opportunities Fund | Annual Report 2021 | 29 |
July 31, 2021
30 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Global Opportunities Fund | Annual Report 2021 | 31 |
July 31, 2021
32 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Global Opportunities Fund | Annual Report 2021 | 33 |
July 31, 2021
34 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Global Opportunities Fund | Annual Report 2021 | 35 |
July 31, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Credit risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | 333,496* |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 2,606,888* |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 435,965 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 5,074,035* |
Total | 8,450,384 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 1,500,475* |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 649,658 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 132,453* |
Total | 2,282,586 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | — | 2,774,002 | 2,774,002 |
Equity risk | — | (27,709,727) | 86,594 | (69,738) | — | (27,692,871) |
Foreign exchange risk | 1,481,790 | — | — | — | — | 1,481,790 |
Interest rate risk | — | (6,894,048) | — | — | 1,027,759 | (5,866,289) |
Total | 1,481,790 | (34,603,775) | 86,594 | (69,738) | 3,801,761 | (29,303,368) |
36 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | (862,524) | (862,524) |
Equity risk | — | 5,912,271 | 332 | — | 5,912,603 |
Foreign exchange risk | (3,734,442) | — | — | — | (3,734,442) |
Interest rate risk | — | 2,635,396 | — | 281 | 2,635,677 |
Total | (3,734,442) | 8,547,667 | 332 | (862,243) | 3,951,314 |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 203,187,088 |
Futures contracts — short | 96,714,072 |
Credit default swap contracts — sell protection | 55,858,589 |
Derivative instrument | Average value ($) |
Options contracts — purchased | 6,467** |
Options contracts — written | (1,966)* |
Derivative instrument | Average unrealized appreciation ($)* | Average unrealized depreciation ($)* |
Forward foreign currency exchange contracts | 540,950 | (955,293) |
Interest rate swap contracts | 239,116 | — |
* | Based on the ending quarterly outstanding amounts for the year ended July 31, 2021. |
** | Based on the ending daily outstanding amounts for the year ended July 31, 2021. |
Columbia Global Opportunities Fund | Annual Report 2021 | 37 |
July 31, 2021
Citi ($) | Goldman Sachs International ($) | HSBC ($) | Morgan Stanley ($)(a) | Morgan Stanley ($)(a) | Standard Chartered ($) | Total ($) | |
Assets | |||||||
Forward foreign currency exchange contracts | - | 36,876 | 171,312 | 185,888 | - | 41,889 | 435,965 |
Liabilities | |||||||
Centrally cleared credit default swap contracts (b) | - | - | - | - | 52,627 | - | 52,627 |
Forward foreign currency exchange contracts | 4,681 | 904 | 114,038 | 529,778 | - | 257 | 649,658 |
Total liabilities | 4,681 | 904 | 114,038 | 529,778 | 52,627 | 257 | 702,285 |
Total financial and derivative net assets | (4,681) | 35,972 | 57,274 | (343,890) | (52,627) | 41,632 | (266,320) |
Total collateral received (pledged) (c) | - | - | - | - | (52,627) | - | (52,627) |
Net amount (d) | (4,681) | 35,972 | 57,274 | (343,890) | - | 41,632 | (213,693) |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | Centrally cleared swaps are included within payable/receivable for variation margin on the Statement of Assets and Liabilities. |
(c) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(d) | Represents the net amount due from/(to) counterparties in the event of default. |
38 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Global Opportunities Fund | Annual Report 2021 | 39 |
July 31, 2021
40 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Effective rate (%) | |
Class A | 0.09 |
Advisor Class | 0.09 |
Class C | 0.10 |
Institutional Class | 0.09 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.02 |
Class R | 0.09 |
Columbia Global Opportunities Fund | Annual Report 2021 | 41 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 109,479 |
Class C | — | 1.00(b) | 377 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
December 1, 2020 through November 30, 2021 | Prior to December 1, 2020 | |
Class A | 1.35% | 1.44% |
Advisor Class | 1.10 | 1.19 |
Class C | 2.10 | 2.19 |
Institutional Class | 1.10 | 1.19 |
Institutional 2 Class | 1.07 | 1.15 |
Institutional 3 Class | 1.02 | 1.10 |
Class R | 1.60 | 1.69 |
42 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
2,857,333 | (2,857,333) | — |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
13,855,202 | 9,611,738 | 23,466,940 | 9,482,518 | — | 9,482,518 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
7,789,335 | 18,930,842 | — | 108,446,726 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
469,342,989 | 120,168,369 | (11,721,643) | 108,446,726 |
Columbia Global Opportunities Fund | Annual Report 2021 | 43 |
July 31, 2021
44 | Columbia Global Opportunities Fund | Annual Report 2021 |
July 31, 2021
Columbia Global Opportunities Fund | Annual Report 2021 | 45 |
July 31, 2021
46 | Columbia Global Opportunities Fund | Annual Report 2021 |
Columbia Global Opportunities Fund | Annual Report 2021 | 47 |
Qualified dividend income | Dividends received deduction | Section 199A dividends | Capital gain dividend |
70.78% | 33.22% | 0.47% | $26,059,861 |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
48 | Columbia Global Opportunities Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Global Opportunities Fund | Annual Report 2021 | 49 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
50 | Columbia Global Opportunities Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Global Opportunities Fund | Annual Report 2021 | 51 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
52 | Columbia Global Opportunities Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Global Opportunities Fund | Annual Report 2021 | 53 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | there were no material changes to the Program during the period; |
• | the implementation of the Program was effective to manage the Fund’s liquidity risk; and |
• | the Program operated adequately during the period. |
54 | Columbia Global Opportunities Fund | Annual Report 2021 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Global Opportunities Fund | Annual Report 2021 | 55 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
56 | Columbia Global Opportunities Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Global Opportunities Fund | Annual Report 2021 | 57 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
58 | Columbia Global Opportunities Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
July 31, 2021
3 | |
5 | |
7 | |
8 | |
28 | |
30 | |
31 | |
34 | |
38 | |
49 | |
50 | |
50 | |
56 | |
57 |
Average annual total returns (%) (for the period ended July 31, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 02/16/06 | 9.35 | 3.82 | 3.92 |
Including sales charges | 6.03 | 3.20 | 3.60 | ||
Advisor Class* | 02/28/13 | 9.73 | 4.10 | 4.13 | |
Class C | Excluding sales charges | 02/16/06 | 8.56 | 3.05 | 3.14 |
Including sales charges | 7.56 | 3.05 | 3.14 | ||
Institutional Class | 09/27/10 | 9.73 | 4.08 | 4.18 | |
Institutional 2 Class | 08/01/08 | 9.70 | 4.13 | 4.24 | |
Institutional 3 Class* | 06/01/15 | 9.82 | 4.17 | 4.13 | |
Class R | 09/27/10 | 9.16 | 3.56 | 3.66 | |
Credit Suisse Leveraged Loan Index | 9.60 | 4.75 | 4.50 |
* | The returns shown for periods prior to the share class inception date (including returns for the Life of the Fund, if shown, which are since Fund inception) include the returns of the Fund’s oldest share class. Since the Fund launched more than one share class at its inception, Class A shares were used. These returns are adjusted to reflect any higher class-related operating expenses of the newer share classes, as applicable. Please visit columbiathreadneedleus.com/investor/investment-products/mutual-funds/appended-performance for more information. |
Columbia Floating Rate Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at July 31, 2021) | |
Common Stocks | 1.4 |
Convertible Bonds | 0.2 |
Corporate Bonds & Notes | 4.0 |
Exchange-Traded Fixed Income Funds | 0.9 |
Money Market Funds | 6.4 |
Senior Loans | 86.5 |
Warrants | 0.6 |
Total | 100.0 |
Quality breakdown (%) (at July 31, 2021) | |
BBB rating | 1.5 |
BB rating | 30.2 |
B rating | 62.9 |
CCC rating | 3.4 |
CC rating | 0.1 |
Not rated | 1.9 |
Total | 100.0 |
4 | Columbia Floating Rate Fund | Annual Report 2021 |
• | Credit selection in the energy and services industries detracted most from the Fund’s relative results. |
• | Positioning and credit selection in the utilities and consumer non-durables industries further dampened Fund performance. |
• | From a credit quality perspective, having overweights to investment-grade issues and to issues rated BB3 and having an underweight to issues rated B3 hurt, as higher quality segments of the leveraged bank loan market underperformed lower quality segments during the period. Selection among issues rated B2, BB3 and B1 also detracted. |
• | Having a position in cash, albeit a modest one, during a period when the Credit Suisse Leveraged Loan Index rallied, detracted from Fund performance as well. |
• | Credit selection in the broadcasting, manufacturing, diversified media, consumer durables and aerospace industries contributed most positively to the Fund’s relative results during the period. |
• | Positioning in the financials and manufacturing industries also boosted Fund performance. |
• | In terms of credit quality, an overweight to, and selection among, issues rated CCC and lower proved beneficial, as lower quality segments of the leveraged bank loan market outperformed higher quality segments during the period. Selection among non-rated issues also helped the Fund’s relative results. |
Columbia Floating Rate Fund | Annual Report 2021 | 5 |
6 | Columbia Floating Rate Fund | Annual Report 2021 |
(Unaudited)
February 1, 2021 — July 31, 2021 | |||||||
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 | 1,019.40 | 1,019.90 | 5.09 | 5.09 | 1.01 |
Advisor Class | 1,000.00 | 1,000.00 | 1,020.90 | 1,021.14 | 3.83 | 3.83 | 0.76 |
Class C | 1,000.00 | 1,000.00 | 1,015.60 | 1,016.16 | 8.84 | 8.85 | 1.76 |
Institutional Class | 1,000.00 | 1,000.00 | 1,020.60 | 1,021.14 | 3.83 | 3.83 | 0.76 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,021.10 | 1,021.29 | 3.68 | 3.68 | 0.73 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,021.30 | 1,021.54 | 3.43 | 3.43 | 0.68 |
Class R | 1,000.00 | 1,000.00 | 1,018.10 | 1,018.65 | 6.34 | 6.34 | 1.26 |
Columbia Floating Rate Fund | Annual Report 2021 | 7 |
July 31, 2021
Common Stocks 1.5% | ||
Issuer | Shares | Value ($) |
Communication Services 1.0% | ||
Diversified Telecommunication Services 0.0% | ||
Cincinnati Bell, Inc.(a) | 9,438 | 144,779 |
Entertainment 0.9% | ||
MGM Holdings II, Inc.(a) | 53,207 | 7,010,022 |
Media 0.1% | ||
Clear Channel Outdoor Holdings, Inc.(a) | 198,952 | 529,213 |
Star Tribune Co. (The)(a),(b),(c) | 1,098 | — |
Total | 529,213 | |
Total Communication Services | 7,684,014 | |
Consumer Discretionary 0.0% | ||
Diversified Consumer Services 0.0% | ||
Houghton Mifflin Harcourt Co.(a) | 18,619 | 210,767 |
Multiline Retail 0.0% | ||
Belk, Inc.(a) | 231 | 6,410 |
Total Consumer Discretionary | 217,177 | |
Energy 0.3% | ||
Energy Equipment & Services 0.1% | ||
Covia Holdings Corp.(a) | 57,253 | 554,638 |
Fieldwood Energy LLC(a),(c) | 68,952 | 8,654 |
McDermott International, Inc.(a) | 184,336 | 78,896 |
Total | 642,188 | |
Oil, Gas & Consumable Fuels 0.2% | ||
New Frontera Holdings(a),(c) | 64,498 | 225,743 |
Southcross Energy Partners LLC(a) | 107,918 | 9,604 |
Southcross Energy Partners LLC, Class A(a),(c) | 2,041,444 | 1,153,416 |
Total | 1,388,763 | |
Total Energy | 2,030,951 | |
Financials —% | ||
Capital Markets —% | ||
RCS Capital Corp., Class B(a),(b),(c) | 6,880 | 0 |
Total Financials | 0 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrials 0.2% | ||
Machinery 0.2% | ||
TNT Crane and Rigging, Inc.(a) | 60,744 | 1,157,963 |
Total Industrials | 1,157,963 | |
Total Common Stocks (Cost $9,050,900) | 11,090,105 |
Convertible Bonds 0.2% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 0.2% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 1,500,000 | 1,537,500 | |
Total Convertible Bonds (Cost $1,419,341) | 1,537,500 | |||
Corporate Bonds & Notes 4.2% | ||||
Automotive 0.1% | ||||
Ford Motor Credit Co. LLC | ||||
11/13/2025 | 3.375% | 669,000 | 698,902 | |
Brokerage/Asset Managers/Exchanges 0.4% | ||||
NFP Corp.(d) | ||||
08/15/2028 | 6.875% | 2,750,000 | 2,860,483 | |
Cable and Satellite 0.7% | ||||
DISH DBS Corp. | ||||
07/01/2026 | 7.750% | 2,500,000 | 2,855,330 | |
Radiate Holdco LLC/Finance, Inc.(d) | ||||
09/15/2026 | 4.500% | 2,500,000 | 2,585,436 | |
Total | 5,440,766 | |||
Chemicals 0.1% | ||||
Herens Holdco Sarl(d) | ||||
05/15/2028 | 4.750% | 1,053,000 | 1,045,375 | |
Finance Companies 0.6% | ||||
Navient Corp. | ||||
06/25/2025 | 6.750% | 2,000,000 | 2,226,774 | |
Provident Funding Associates LP/Finance Corp.(d) | ||||
06/15/2025 | 6.375% | 2,500,000 | 2,555,575 | |
Total | 4,782,349 |
8 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Food and Beverage 0.1% | ||||
FAGE International SA/USA Dairy Industry, Inc.(d) | ||||
08/15/2026 | 5.625% | 602,000 | 620,092 | |
Gaming 0.2% | ||||
Caesars Resort Collection LLC/CRC Finco, Inc.(d) | ||||
10/15/2025 | 5.250% | 1,500,000 | 1,511,366 | |
Leisure 0.3% | ||||
Royal Caribbean Cruises Ltd.(d) | ||||
06/15/2023 | 9.125% | 2,000,000 | 2,179,059 | |
Lodging 0.2% | ||||
Marriott Ownership Resorts, Inc. | ||||
01/15/2028 | 4.750% | 1,250,000 | 1,264,303 | |
Media and Entertainment 0.5% | ||||
Cumulus Media New Holdings, Inc.(d) | ||||
07/01/2026 | 6.750% | 828,000 | 871,634 | |
Diamond Sports Group LLC/Finance Co.(d) | ||||
08/15/2026 | 5.375% | 2,591,000 | 1,504,352 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 478,473 | 505,393 | |
05/01/2027 | 8.375% | 867,232 | 923,615 | |
Total | 3,804,994 | |||
Other REIT 0.3% | ||||
Ladder Capital Finance Holdings LLLP/Corp.(d) | ||||
10/01/2025 | 5.250% | 1,858,000 | 1,885,900 | |
Property & Casualty 0.3% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(d) | ||||
10/15/2027 | 6.750% | 2,444,000 | 2,554,432 | |
Technology 0.4% | ||||
CommScope Finance LLC(d) | ||||
03/01/2024 | 5.500% | 1,178,000 | 1,212,305 | |
Dun & Bradstreet Corp. (The)(d) | ||||
08/15/2026 | 6.875% | 985,000 | 1,043,935 | |
Sabre GLBL, Inc.(d) | ||||
09/01/2025 | 7.375% | 500,000 | 534,522 | |
Total | 2,790,762 | |||
Total Corporate Bonds & Notes (Cost $31,962,913) | 31,438,783 |
Exchange-Traded Fixed Income Funds 0.9% | ||
Shares | Value ($) | |
Floating Rate 0.9% | ||
First Trust Senior Loan ETF | 25,000 | 1,195,250 |
Invesco Senior Loan ETF | 50,000 | 1,101,500 |
SPDR Blackstone Senior Loan ETF | 100,000 | 4,582,000 |
Total | 6,878,750 | |
Total Exchange-Traded Fixed Income Funds (Cost $6,932,750) | 6,878,750 |
Senior Loans 90.2% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 0.4% | ||||
TransDigm, Inc.(e),(f) | ||||
Tranche F Term Loan | ||||
1-month USD LIBOR + 2.250% 12/09/2025 | 2.342% | 2,762,580 | 2,711,777 | |
Airlines 2.1% | ||||
AAdvantage Loyalty IP Ltd./American Airlines, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 0.750% 04/20/2028 | 5.500% | 3,919,708 | 4,024,560 | |
Air Canada(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.750% 07/27/2028 | 5.500% | 2,000,000 | 2,003,340 | |
American Airlines, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 1.750% 06/27/2025 | 1.836% | 1,712,321 | 1,589,958 | |
1-month USD LIBOR + 1.750% 01/29/2027 | 1.840% | 990,000 | 915,572 | |
Kestrel Bidco, Inc./WestJet Airlines(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% Floor 1.000% 12/11/2026 | 4.000% | 2,817,200 | 2,715,865 | |
United AirLines, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 0.750% 04/21/2028 | 4.500% | 4,340,972 | 4,342,622 | |
Total | 15,591,917 | |||
Automotive 1.2% | ||||
Clarios Global LP(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.250% 04/30/2026 | 3.342% | 2,804,076 | 2,779,092 |
Columbia Floating Rate Fund | Annual Report 2021 | 9 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
First Brands Group LLC(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 5.000% Floor 1.000% 03/30/2027 | 6.000% | 4,122,116 | 4,162,059 | |
Truck Hero, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 01/31/2028 | 4.500% | 2,244,375 | 2,235,398 | |
Total | 9,176,549 | |||
Brokerage/Asset Managers/Exchanges 1.7% | ||||
AlixPartners LLP(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 02/04/2028 | 3.250% | 1,496,250 | 1,486,061 | |
Citadel Securities LP(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 02/02/2028 | 2.592% | 3,491,250 | 3,428,896 | |
Jefferies Finance LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 06/03/2026 | 5.250% | 2,699,034 | 2,683,002 | |
Russell Investments US Institutional Holdco, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 1.000% 05/30/2025 | 4.500% | 4,000,000 | 3,980,000 | |
Wells Fargo(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.500% 04/21/2028 | 3.750% | 1,500,000 | 1,500,000 | |
Total | 13,077,959 | |||
Building Materials 3.6% | ||||
Apex Tool Group LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 5.250% Floor 1.250% 08/01/2024 | 6.500% | 2,961,039 | 2,966,961 | |
Beacon Roofing Supply, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 05/19/2028 | 2.592% | 2,076,923 | 2,057,982 | |
Cornerstone Building Brands, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.250% 04/12/2028 | 3.750% | 3,168,905 | 3,158,004 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Covia Holdings LLC(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 1.000% 07/31/2026 | 5.000% | 2,080,573 | 2,045,474 | |
CP Atlas Buyer, Inc./American Bath(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 11/23/2027 | 4.250% | 2,323,125 | 2,311,277 | |
LBM Acquisition LLC(e),(f),(g) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 12/17/2027 | 4.500% | 2,245,398 | 2,222,944 | |
Park River Holdings, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.750% 12/28/2027 | 4.000% | 1,995,000 | 1,974,691 | |
QUIKRETE Holdings, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 2.500% 02/01/2027 | 2.592% | 1,994,937 | 1,969,162 | |
QUIKRETE Holdings, Inc.(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% 02/21/2028 | 3.081% | 529,412 | 523,567 | |
US Silica Co.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.000% Floor 1.000% 05/01/2025 | 5.000% | 3,350,979 | 3,218,615 | |
White Cap Buyer LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.500% 10/19/2027 | 4.500% | 2,483,737 | 2,483,737 | |
Wilsonart LLC(e),(f) | ||||
Tranche E Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 1.000% 12/31/2026 | 4.500% | 2,265,693 | 2,253,798 | |
Total | 27,186,212 | |||
Cable and Satellite 2.9% | ||||
Charter Communications Operating LLC/Safari LLC(e),(f) | ||||
Tranche B2 Term Loan | ||||
3-month USD LIBOR + 1.750% 02/01/2027 | 1.850% | 1,545,255 | 1,526,913 |
10 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Cogeco Communications II LP(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.000% 01/03/2025 | 2.092% | 1,994,747 | 1,958,383 | |
CSC Holdings LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.250% 07/17/2025 | 2.343% | 2,398,766 | 2,358,778 | |
3-month USD LIBOR + 2.250% 01/15/2026 | 2.343% | 1,960,049 | 1,923,299 | |
3-month USD LIBOR + 2.500% 04/15/2027 | 2.593% | 982,538 | 968,497 | |
DIRECTV Financing LLC(e),(f),(h) | ||||
Term Loan | ||||
1-month USD LIBOR + 5.750% Floor 0.750% 04/16/2025 | 1.842% | 3,212,355 | 3,204,741 | |
Iridium Satellite LLC(e),(f) | ||||
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 2.500% Floor 1.000% 11/04/2026 | 3.250% | 3,000,000 | 2,992,500 | |
Telesat Canada(e),(f) | ||||
Tranche B5 Term Loan | ||||
3-month USD LIBOR + 2.750% 12/07/2026 | 2.860% | 2,156,122 | 1,951,291 | |
UPC Financing Partnership(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% 01/31/2029 | 3.093% | 1,750,000 | 1,730,942 | |
Virgin Media Bristol LLC(e),(f) | ||||
Tranche N Term Loan | ||||
3-month USD LIBOR + 2.500% 01/31/2028 | 2.593% | 2,000,000 | 1,968,340 | |
Tranche Q Term Loan | ||||
1-month USD LIBOR + 3.250% 01/31/2029 | 3.343% | 1,175,000 | 1,168,796 | |
Total | 21,752,480 | |||
Chemicals 4.2% | ||||
Aruba Investments Holdings LLC(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 11/24/2027 | 4.750% | 1,496,250 | 1,499,063 | |
Ascend Performance Materials Operations LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 0.750% 08/27/2026 | 5.500% | 3,507,947 | 3,551,796 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
ColourOz Investment 1 GmbH(e),(f) | ||||
Tranche C 1st Lien Term Loan | ||||
3-month USD LIBOR + 4.250% Floor 1.000% 09/21/2023 | 5.250% | 360,723 | 357,794 | |
ColourOz Investment 2 LLC(e),(f) | ||||
Tranche B2 1st Lien Term Loan | ||||
3-month USD LIBOR + 4.250% Floor 1.000% 09/21/2023 | 5.250% | 2,182,078 | 2,164,360 | |
Herens Holdco SARL(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 06/29/2028 | 4.750% | 1,428,571 | 1,427,086 | |
Hexion, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.500% 07/01/2026 | 3.650% | 1,315,425 | 1,312,137 | |
INEOS Styrolution Group GmbH(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 01/29/2026 | 3.250% | 2,200,000 | 2,191,200 | |
Innophos Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% 02/05/2027 | 3.592% | 1,234,375 | 1,228,721 | |
Messer Industries GmbH(e),(f) | ||||
Tranche B1 Term Loan | ||||
3-month USD LIBOR + 2.500% 03/02/2026 | 2.647% | 2,649,422 | 2,622,371 | |
Nouryon Finance BV/AkzoNobel(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% 10/01/2025 | 2.835% | 3,452,219 | 3,405,372 | |
PQ Corp.(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.750% 08/02/2028 | 4.250% | 2,000,000 | 1,997,500 | |
Schenectady International Group, Inc.(c),(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.750% 10/15/2025 | 4.874% | 2,993,771 | 2,993,771 | |
Solenis Holdings LLC(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.000% 06/26/2025 | 4.135% | 1,956,559 | 1,952,216 | |
2nd Lien Term Loan | ||||
3-month USD LIBOR + 8.500% 06/26/2026 | 8.635% | 1,000,000 | 997,000 |
Columbia Floating Rate Fund | Annual Report 2021 | 11 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Trinseo Materials Operating SCA(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 05/03/2028 | 2.592% | 1,818,182 | 1,800,000 | |
Tronox Finance LLC(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 2.500% 03/10/2028 | 2.627% | 1,686,491 | 1,669,356 | |
Total | 31,169,743 | |||
Construction Machinery 0.3% | ||||
Columbus McKinnon Corp.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 05/14/2028 | 3.250% | 1,200,000 | 1,194,000 | |
TNT Crane & Rigging, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 6.500% 10/16/2024 | 7.500% | 560,793 | 583,225 | |
1-month USD LIBOR + 11.000% Floor 1.000% 04/16/2025 | 12.000% | 535,736 | 514,306 | |
Total | 2,291,531 | |||
Consumer Cyclical Services 6.0% | ||||
Allied Universal Holdco LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 05/12/2028 | 4.250% | 2,464,286 | 2,460,515 | |
Amentum Government Services Holdings LLC(e),(f) | ||||
Tranche 1 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 01/29/2027 | 3.592% | 1,488,722 | 1,477,095 | |
Tranche 2 1st Lien Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 0.750% 01/29/2027 | 5.500% | 1,813,636 | 1,813,074 | |
APX Group, Inc.(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 07/10/2028 | 4.000% | 2,352,939 | 2,334,115 | |
Conservice Midco, LLC(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 4.250% 05/13/2027 | 4.357% | 2,979,988 | 2,975,637 | |
Cushman & Wakefield U.S. Borrower LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% 08/21/2025 | 2.842% | 2,376,789 | 2,339,450 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Go Daddy Operating Company, LLC/Finance Co, Inc.(e),(f) | ||||
Tranche B4 Term Loan | ||||
1-month USD LIBOR + 2.000% 08/10/2027 | 2.092% | 1,883,481 | 1,861,765 | |
IRI Holdings, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.250% 12/01/2025 | 4.342% | 3,166,306 | 3,155,763 | |
Prime Security Services Borrower LLC/Protection 1 Security Solutions(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 0.750% 09/23/2026 | 3.500% | 3,324,918 | 3,308,759 | |
Signal Parent, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.750% 04/03/2028 | 0.000% | 2,500,000 | 2,450,000 | |
Sotheby’s(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 0.750% 01/15/2027 | 5.500% | 4,207,300 | 4,205,533 | |
Staples, Inc.(e),(f),(g) | ||||
Tranche B1 Term Loan | ||||
3-month USD LIBOR + 5.000% 04/16/2026 | 5.176% | 2,703,725 | 2,613,608 | |
TruGreen LP(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 11/02/2027 | 4.750% | 2,487,500 | 2,491,380 | |
Uber Technologies, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.500% Floor 1.000% 04/04/2025 | 3.592% | 2,244,216 | 2,234,857 | |
1-month USD LIBOR + 3.500% 02/25/2027 | 3.592% | 2,058,287 | 2,049,025 | |
USS Ultimate Holdings, Inc./United Site Services, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 1.000% 08/25/2024 | 4.750% | 2,897,222 | 2,897,222 | |
WaterBridge Midstream Operating LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 5.750% Floor 1.000% 06/22/2026 | 6.750% | 2,554,550 | 2,448,102 |
12 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
WW International, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 04/13/2028 | 4.000% | 1,875,000 | 1,869,150 | |
Total | 44,985,050 | |||
Consumer Products 2.0% | ||||
Energizer Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.250% Floor 0.500% 12/22/2027 | 2.750% | 1,658,334 | 1,645,896 | |
Kronos Acquisition Holdings Inc.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 12/22/2026 | 4.250% | 1,990,000 | 1,965,841 | |
Prestige Brands, Inc.(e),(f) | ||||
Tranche B5 Term Loan | ||||
1-month USD LIBOR + 2.000% Floor 0.500% 07/03/2028 | 2.500% | 1,590,909 | 1,582,955 | |
Serta Simmons Bedding LLC(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.500% Floor 1.000% 11/08/2023 | 4.500% | 1,339,941 | 897,761 | |
SIWF Holdings, Inc./Spring Window Fashions(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.250% 06/15/2025 | 4.342% | 1,988,500 | 1,986,372 | |
SRAM LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 05/18/2028 | 3.250% | 2,749,091 | 2,731,909 | |
Thor Industries, Inc.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 3.000% 02/01/2026 | 3.125% | 2,000,000 | 1,996,260 | |
Weber-Stephen Products LLC(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.750% 10/30/2027 | 4.302% | 2,031,458 | 2,025,120 | |
Total | 14,832,114 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Diversified Manufacturing 2.5% | ||||
DXP Enterprises, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 1.000% 12/23/2027 | 5.750% | 2,437,750 | 2,437,750 | |
EWT Holdings III Corp.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 04/01/2028 | 2.625% | 2,250,000 | 2,223,743 | |
Filtration Group Corp.(e),(f) | ||||
Tranche A Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 03/29/2025 | 4.500% | 992,500 | 992,500 | |
Gates Global LLC(e),(f),(g) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.750% 03/31/2027 | 3.500% | 2,648,688 | 2,629,724 | |
Madison IAQ LLC(e),(f),(g) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.250% 06/21/2028 | 3.750% | 2,246,496 | 2,226,030 | |
TK Elevator Midco GmbH(e),(f),(g) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 4.250% 07/30/2027 | 4.404% | 3,121,575 | 3,113,272 | |
Vertiv Group Corp.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 2.750% 03/02/2027 | 2.851% | 2,962,613 | 2,932,512 | |
Zekelman Industries, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.000% 01/24/2027 | 2.087% | 1,941,549 | 1,911,940 | |
Total | 18,467,471 | |||
Electric 2.2% | ||||
Carroll County Energy LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.500% 02/16/2026 | 3.647% | 1,319,440 | 1,264,459 | |
EFS Cogen Holdings I LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.500% Floor 1.000% 10/01/2027 | 4.500% | 1,924,605 | 1,915,887 |
Columbia Floating Rate Fund | Annual Report 2021 | 13 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Exgen Renewables IV LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% Floor 1.000% 12/15/2027 | 3.500% | 1,710,619 | 1,705,983 | |
Invenergy Thermal Operating I LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 08/28/2025 | 3.092% | 1,964,667 | 1,925,374 | |
LMBE-MC Holdco II LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.000% Floor 1.000% 12/03/2025 | 5.000% | 2,424,751 | 2,333,823 | |
Nautilus Power LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.250% Floor 1.000% 05/16/2024 | 5.250% | 1,334,494 | 1,238,157 | |
New Frontera Holdings(c),(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 13.000% 07/28/2026 | 16.250% | 986,719 | 976,852 | |
2nd Lien Term Loan | ||||
1-month USD LIBOR + 1.500% 07/28/2029 | 3.750% | 339,370 | 135,748 | |
PG&E Corp.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 1.000% 06/23/2025 | 3.500% | 1,979,963 | 1,927,157 | |
West Deptford Energy Holdings LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% 08/03/2026 | 3.842% | 1,553,124 | 1,352,320 | |
WIN Waste Innovations Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 03/24/2028 | 3.250% | 2,000,000 | 1,990,000 | |
Total | 16,765,760 | |||
Environmental 1.0% | ||||
EnergySolutions LLC/Envirocare of Utah LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 1.000% 05/09/2025 | 4.750% | 3,438,420 | 3,416,930 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
GFL Environmental, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% Floor 1.000% 05/30/2025 | 3.500% | 2,049,831 | 2,047,863 | |
Harsco Corp.(e),(f) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 2.250% Floor 0.500% 03/10/2028 | 2.750% | 2,162,162 | 2,140,541 | |
Total | 7,605,334 | |||
Finance Companies 0.6% | ||||
FinCo I LLC/Fortress Investment Group(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 06/27/2025 | 2.592% | 2,493,719 | 2,465,041 | |
IGT Holding IV AB(e),(f) | ||||
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 03/31/2028 | 4.250% | 2,360,750 | 2,343,044 | |
Total | 4,808,085 | |||
Food and Beverage 1.7% | ||||
Aramark Intermediate HoldCo Corp.(e),(f) | ||||
Tranche B5 Term Loan | ||||
1-month USD LIBOR + 2.500% 04/06/2028 | 2.592% | 2,301,924 | 2,286,109 | |
B&G Foods, Inc.(e),(f) | ||||
Tranche B4 Term Loan | ||||
3-month USD LIBOR + 2.500% 10/10/2026 | 2.592% | 1,700,000 | 1,696,821 | |
Dole Food Co., Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 1.000% 04/06/2024 | 5.000% | 2,533,876 | 2,530,709 | |
Triton Water Holdings, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 03/31/2028 | 4.000% | 1,888,889 | 1,873,306 | |
United Natural Foods, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.500% 10/22/2025 | 3.592% | 2,313,780 | 2,304,570 | |
US Foods, Inc./US Foodservice, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 1.750% 06/27/2023 | 1.842% | 1,799,143 | 1,775,251 | |
Total | 12,466,766 |
14 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Gaming 3.6% | ||||
Aristocrat Leisure Ltd.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 1.000% 10/19/2024 | 4.750% | 2,974,975 | 2,974,053 | |
Caesars Resort Collection LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.750% 12/23/2024 | 2.842% | 1,883,044 | 1,860,410 | |
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 4.500% 07/21/2025 | 4.592% | 1,488,750 | 1,488,750 | |
CBAC Borrower LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 4.000% 07/08/2024 | 4.092% | 1,876,061 | 1,811,806 | |
CCM Merger, Inc./MotorCity Casino Hotel(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 11/04/2025 | 4.500% | 3,001,301 | 3,001,301 | |
CityCenter Holdings LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.250% Floor 0.750% 04/18/2024 | 3.000% | 1,994,805 | 1,988,262 | |
Enterprise Development Authority(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 4.250% Floor 0.750% 02/28/2028 | 5.000% | 1,795,455 | 1,795,454 | |
Flutter Entertainment PLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.250% 07/21/2026 | 2.397% | 3,392,875 | 3,366,376 | |
Golden Nugget Online Gaming, Inc.(c),(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 12.000% Floor 1.000% 10/04/2023 | 13.000% | 1,500,000 | 1,650,000 | |
PCI Gaming Authority(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.500% 05/29/2026 | 2.592% | 1,624,865 | 1,611,558 | |
Scientific Games International, Inc.(e),(f) | ||||
Tranche B5 Term Loan | ||||
3-month USD LIBOR + 2.750% 08/14/2024 | 2.842% | 2,613,283 | 2,571,549 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Spectacle Gary Holdings LLC(e),(f) | ||||
Delayed Draw Term Loan | ||||
3-month USD LIBOR + 9.000% Floor 2.000% 12/23/2025 | 11.000% | 165,541 | 180,025 | |
Term Loan | ||||
3-month USD LIBOR + 9.000% Floor 2.000% 12/23/2025 | 11.000% | 2,284,459 | 2,484,350 | |
Total | 26,783,894 | |||
Health Care 6.2% | ||||
athenahealth, Inc.(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
3-month USD LIBOR + 4.250% 02/11/2026 | 4.410% | 3,447,609 | 3,443,300 | |
Carestream Health, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 6.750% Floor 1.000% 05/08/2023 | 7.750% | 1,238,885 | 1,243,531 | |
Change Healthcare Holdings LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% Floor 1.000% 03/01/2024 | 3.500% | 3,159,433 | 3,153,177 | |
CPI Holdco LLC(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% 11/04/2026 | 3.842% | 2,387,909 | 2,381,343 | |
Envision Healthcare Corp.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% 10/10/2025 | 3.842% | 2,821,619 | 2,408,393 | |
Gentiva Health Services, Inc.(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month USD LIBOR + 2.750% 07/02/2025 | 2.875% | 1,809,680 | 1,801,771 | |
ICON PLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% 07/03/2028 | 3.000% | 2,751,870 | 2,744,990 | |
3-month USD LIBOR + 2.500% 07/03/2028 | 3.000% | 685,630 | 683,916 | |
IQVIA, Inc./Quintiles IMS(e),(f) | ||||
Tranche B3 Term Loan | ||||
3-month USD LIBOR + 1.750% 06/11/2025 | 1.897% | 1,910,457 | 1,888,162 | |
LifePoint Health, Inc.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
3-month USD LIBOR + 3.750% 11/16/2025 | 3.842% | 2,171,526 | 2,152,286 |
Columbia Floating Rate Fund | Annual Report 2021 | 15 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Lifescan Global Corp.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 6.000% 10/01/2024 | 6.146% | 1,346,483 | 1,334,459 | |
National Mentor Holdings, Inc./Civitas Solutions, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 03/02/2028 | 4.500% | 2,630,362 | 2,624,154 | |
Tranche C 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 03/02/2028 | 4.500% | 82,843 | 82,648 | |
National Mentor Holdings, Inc./Civitas Solutions, Inc.(e),(f),(i) | ||||
Delayed Draw Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 03/02/2028 | 4.500% | 122,111 | 121,823 | |
Ortho-Clinical Diagnostics, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 06/30/2025 | 3.101% | 3,250,000 | 3,235,115 | |
Phoenix Guarantor, Inc./BrightSpring(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.250% 03/05/2026 | 3.339% | 2,254,173 | 2,224,305 | |
Tranche B3 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 03/05/2026 | 3.596% | 997,500 | 985,919 | |
Pluto Acquisition I, Inc./AccentCare, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 4.000% 06/22/2026 | 4.135% | 1,953,125 | 1,938,477 | |
PPD, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.250% Floor 0.500% 01/13/2028 | 2.750% | 2,660,000 | 2,651,461 | |
Radiology Partners, Inc.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month USD LIBOR + 4.250% 07/09/2025 | 4.348% | 1,500,000 | 1,494,690 | |
Select Medical Corp.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.250% 03/06/2025 | 2.350% | 2,571,818 | 2,532,161 | |
Surgery Center Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 08/31/2026 | 4.500% | 1,995,000 | 1,992,865 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Team Health Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 1.000% 02/06/2024 | 3.750% | 1,864,351 | 1,799,975 | |
Upstream Newco, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.500% 11/20/2026 | 4.592% | 1,989,925 | 1,976,254 | |
Total | 46,895,175 | |||
Independent Energy 0.2% | ||||
Hamilton Projects Acquiror LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 1.000% 06/17/2027 | 5.750% | 1,707,750 | 1,683,739 | |
Leisure 3.3% | ||||
Crown Finance US, Inc.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 7.000% 05/23/2024 | 7.000% | 757,896 | 938,707 | |
Crown Finance US, Inc./Cineworld Group PLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% 02/28/2025 | 3.500% | 2,638,939 | 2,127,037 | |
Formula One Management Ltd.(e),(f) | ||||
Tranche B3 Term Loan | ||||
3-month USD LIBOR + 2.500% Floor 1.000% 02/01/2024 | 3.500% | 4,000,000 | 3,963,320 | |
Life Time, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 1.000% 12/16/2024 | 5.750% | 3,145,533 | 3,139,651 | |
Metro-Goldwyn-Mayer, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 2.500% 07/03/2025 | 2.600% | 1,784,315 | 1,773,163 | |
2nd Lien Term Loan | ||||
3-month USD LIBOR + 4.500% Floor 1.000% 07/03/2026 | 5.500% | 2,225,000 | 2,221,284 | |
NAI Entertainment Holdings LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.500% Floor 1.000% 05/08/2025 | 3.500% | 2,941,192 | 2,877,456 |
16 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
UFC Holdings LLC(e),(f) | ||||
Tranche B3 1st Lien Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.750% 04/29/2026 | 3.500% | 4,050,909 | 4,022,432 | |
William Morris Endeavor Entertainment LLC/IMG Worldwide Holdings LLC(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
3-month USD LIBOR + 2.750% 05/18/2025 | 2.850% | 4,031,675 | 3,912,902 | |
Total | 24,975,952 | |||
Lodging 0.7% | ||||
Hilton Grand Vacations Borrower LLC(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.500% 05/19/2028 | 3.500% | 2,764,706 | 2,753,647 | |
Playa Resorts Holding BV(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 1.000% 04/29/2024 | 3.750% | 2,897,155 | 2,781,356 | |
Total | 5,535,003 | |||
Media and Entertainment 6.2% | ||||
Alchemy Copyrights LLC(c),(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.750% 03/10/2028 | 3.500% | 2,481,281 | 2,471,976 | |
Cengage Learning, Inc.(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% Floor 1.000% 07/14/2026 | 5.750% | 2,302,743 | 2,299,335 | |
Clear Channel Outdoor Holdings, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.500% 08/21/2026 | 3.628% | 2,962,462 | 2,873,588 | |
Creative Artists Agency LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% 11/27/2026 | 3.842% | 2,964,949 | 2,931,119 | |
E.W. Scripps Co. (The)(e),(f) | ||||
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 2.563% 05/01/2026 | 3.313% | 1,481,156 | 1,469,840 | |
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.750% 01/07/2028 | 3.750% | 1,119,000 | 1,115,151 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Emerald Expositions Holding, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% 05/22/2024 | 2.592% | 2,796,920 | 2,682,414 | |
Entravision Communications Corp.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.750% 11/29/2024 | 2.842% | 1,068,750 | 1,051,832 | |
Hubbard Radio LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.250% Floor 1.000% 03/28/2025 | 5.250% | 2,630,089 | 2,615,308 | |
iHeartCommunications, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% 05/01/2026 | 3.092% | 1,703,204 | 1,680,313 | |
Indy US Bidco, LLC/NielsenIQ(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 4.000% 03/06/2028 | 4.103% | 3,023,672 | 3,016,657 | |
Learfield Communications LLC(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.250% Floor 1.000% 12/01/2023 | 4.250% | 2,192,503 | 2,078,800 | |
Lions Gate Capital Holdings LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.250% 03/24/2025 | 2.342% | 1,409,590 | 1,391,534 | |
NASCAR Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.750% 10/19/2026 | 2.842% | 1,843,761 | 1,826,853 | |
Nexstar Broadcasting, Inc.(e),(f) | ||||
Tranche B4 Term Loan | ||||
3-month USD LIBOR + 2.500% 09/18/2026 | 2.600% | 3,225,492 | 3,192,785 | |
Playtika Holding Corp.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 2.750% 03/13/2028 | 2.842% | 3,150,000 | 3,124,422 | |
PUG LLC(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.500% 02/12/2027 | 3.592% | 4,045,943 | 3,951,552 | |
Sinclair Television Group, Inc.(e),(f) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 3.000% 04/01/2028 | 3.100% | 1,488,214 | 1,473,703 |
Columbia Floating Rate Fund | Annual Report 2021 | 17 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Terrier Media Buyer, Inc.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 12/17/2026 | 3.592% | 2,836,994 | 2,806,666 | |
Univision Communications, Inc.(e),(f),(g) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.750% 05/05/2028 | 4.000% | 2,250,000 | 2,241,923 | |
Total | 46,295,771 | |||
Midstream 2.4% | ||||
Buckeye Partners LP(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 2.250% 11/01/2026 | 2.354% | 1,999,763 | 1,980,126 | |
CQP Holdco LP/BIP-V CHIN(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 06/05/2028 | 4.250% | 2,400,000 | 2,384,616 | |
GIP III Stetson I LP/II LP(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.250% 07/18/2025 | 4.342% | 2,733,231 | 2,621,168 | |
ITT Holdings LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 07/10/2028 | 3.250% | 1,071,429 | 1,066,071 | |
Lower Cadence Holdings LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.000% 05/22/2026 | 4.092% | 1,318,041 | 1,316,170 | |
Navitas Midstream Midland Basin LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 12/13/2024 | 4.750% | 2,058,950 | 2,047,112 | |
Prairie ECI Acquiror LP(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% 03/11/2026 | 4.842% | 1,637,500 | 1,586,557 | |
Stonepeak Lonestar Holdings LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.500% 10/19/2026 | 4.634% | 2,018,726 | 2,020,886 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Traverse Midstream Partners LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 5.500% Floor 1.000% 09/27/2024 | 6.500% | 2,802,092 | 2,799,374 | |
Total | 17,822,080 | |||
Oil Field Services 0.5% | ||||
ChampionX Corp.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% 05/09/2025 | 2.625% | 1,168,288 | 1,159,526 | |
Fieldwood Energy LLC(e),(j) | ||||
1st Lien Term Loan | ||||
04/11/2022 | 0.000% | 135,937 | 71,463 | |
2nd Lien Term Loan | ||||
04/11/2023 | 0.000% | 2,183,515 | 214,705 | |
Lealand Finance Company BV(c),(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% 06/28/2024 | 3.092% | 33,314 | 19,989 | |
Lealand Finance Company BV(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 1.000% 06/30/2025 | 1.092% | 427,532 | 191,534 | |
MRC Global, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 09/20/2024 | 3.092% | 2,165,181 | 2,147,145 | |
Total | 3,804,362 | |||
Other Industry 1.5% | ||||
APi Group, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.500% 10/01/2026 | 2.592% | 1,683,544 | 1,670,396 | |
Filtration Group Corp.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 03/31/2025 | 3.092% | 2,289,934 | 2,263,737 | |
Hamilton Holdco LLC/Reece International Pty Ltd.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.000% 01/02/2027 | 2.150% | 1,599,779 | 1,587,780 | |
Harland Clarke Holdings Corp.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 4.750% Floor 1.000% 11/03/2023 | 5.750% | 1,374,551 | 1,255,309 |
18 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Hillman Group, Inc. (The)(e),(f),(i) | ||||
Delayed Draw Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 07/14/2028 | 0.260% | 421,941 | 419,093 | |
Hillman Group, Inc. (The)(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 07/14/2028 | 3.250% | 1,761,603 | 1,749,713 | |
Lightstone Holdco LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 1.000% 01/30/2024 | 4.750% | 2,814,073 | 2,166,048 | |
Tranche C Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 1.000% 01/30/2024 | 4.750% | 158,718 | 122,168 | |
Total | 11,234,244 | |||
Other REIT 0.4% | ||||
VICI Properties 1 LLC(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 1.750% 12/20/2024 | 1.839% | 3,000,000 | 2,966,580 | |
Packaging 2.7% | ||||
Altium Packaging LLC(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 02/03/2028 | 3.250% | 1,387,826 | 1,372,713 | |
Anchor Glass Container Corp.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 1.000% 12/07/2023 | 3.750% | 1,576,080 | 1,458,867 | |
2nd Lien Term Loan | ||||
3-month USD LIBOR + 7.750% Floor 1.000% 12/07/2024 | 8.750% | 333,333 | 168,870 | |
Anchor Glass Container Corp.(c),(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 5.000% Floor 1.000% 12/07/2023 | 6.000% | 477,600 | 445,362 | |
Charter Next Generation, Inc.(e),(f),(g) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 12/01/2027 | 4.500% | 2,786,499 | 2,781,845 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Flex Acquisition Co., Inc./Novolex(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 03/02/2028 | 4.000% | 1,985,914 | 1,967,604 | |
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.250% 06/29/2025 | 3.395% | 1,563,810 | 1,539,993 | |
Graham Packaging Co., Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.750% 08/04/2027 | 3.750% | 2,076,575 | 2,062,039 | |
Packaging Coordinators Midco, Inc.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
3-month USD LIBOR + 3.500% 11/30/2027 | 4.250% | 2,992,500 | 2,988,759 | |
Pactiv Evergreen Inc.(e),(f) | ||||
Tranche B1 Term Loan | ||||
3-month USD LIBOR + 2.750% Floor 1.000% 02/05/2023 | 2.842% | 1,350,215 | 1,345,152 | |
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 3.250% 02/05/2026 | 3.342% | 1,044,750 | 1,031,879 | |
Tekni-Plex, Inc.(e),(f),(g) | ||||
Delayed Draw Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.500% 07/29/2028 | 4.500% | 111,074 | 110,935 | |
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.500% 07/29/2028 | 4.500% | 783,070 | 782,091 | |
Tosca Services LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.750% 08/18/2027 | 4.250% | 1,990,000 | 1,987,513 | |
Twist Beauty International Holdings S.A.(e),(f) | ||||
Tranche B2 Term Loan | ||||
3-month USD LIBOR + 3.000% Floor 1.000% 04/22/2024 | 4.000% | 628,277 | 607,858 | |
Total | 20,651,480 | |||
Paper 0.4% | ||||
Asplundh Tree Expert LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 1.750% 09/07/2027 | 1.842% | 3,032,100 | 2,999,414 |
Columbia Floating Rate Fund | Annual Report 2021 | 19 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Pharmaceuticals 2.6% | ||||
Bausch Health Companies, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 06/02/2025 | 3.092% | 2,914,303 | 2,888,843 | |
Elanco Animal Health, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 1.750% 08/01/2027 | 1.850% | 1,967,419 | 1,929,822 | |
Endo Luxembourg Finance Co. I SARL(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 5.000% Floor 0.750% 03/27/2028 | 5.750% | 3,036,665 | 2,958,470 | |
Grifols Worldwide Operations Ltd.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 2.000% 11/15/2027 | 2.084% | 2,303,804 | 2,271,090 | |
Jazz Pharmaceuticals PLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 05/05/2028 | 4.000% | 1,400,000 | 1,401,316 | |
Mallinckrodt International Finance SA(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 5.000% Floor 0.750% 02/24/2025 | 6.250% | 1,692,353 | 1,635,845 | |
Organon & Co.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.500% 06/02/2028 | 3.500% | 2,735,294 | 2,726,760 | |
Sunshine Luxembourg VII SARL/Galderma(e),(f) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 10/01/2026 | 4.500% | 3,445,722 | 3,445,723 | |
Total | 19,257,869 | |||
Property & Casualty 2.7% | ||||
Asurion LLC(e),(f) | ||||
Tranche B3 2nd Lien Term Loan | ||||
1-month USD LIBOR + 5.250% 01/31/2028 | 5.342% | 1,600,000 | 1,590,864 | |
Tranche B6 Term Loan | ||||
3-month USD LIBOR + 3.125% 11/03/2023 | 3.217% | 880,479 | 870,759 | |
Tranche B7 Term Loan | ||||
3-month USD LIBOR + 3.000% 11/03/2024 | 3.092% | 1,328,888 | 1,306,257 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Tranche B8 Term Loan | ||||
1-month USD LIBOR + 3.250% 12/23/2026 | 3.342% | 2,015,132 | 1,976,401 | |
Tranche B9 Term Loan | ||||
1-month USD LIBOR + 3.250% 07/31/2027 | 3.342% | 1,496,250 | 1,468,824 | |
Asurion LLC(e),(f),(g) | ||||
Tranche B4 2nd Lien Term Loan | ||||
1-month USD LIBOR + 5.250% 01/20/2029 | 5.353% | 2,355,981 | 2,341,987 | |
Hub International Ltd.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.750% 04/25/2025 | 2.875% | 1,492,308 | 1,469,386 | |
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.750% 04/25/2025 | 4.000% | 1,492,500 | 1,488,649 | |
Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub, Ltd.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.250% 12/31/2025 | 3.342% | 2,423,986 | 2,384,596 | |
Sedgwick Claims Management Services, Inc./Lightning Cayman Merger Sub, Ltd.(e),(f),(g) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% 09/03/2026 | 3.842% | 1,250,000 | 1,238,837 | |
USI, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.000% 05/16/2024 | 3.147% | 2,073,795 | 2,050,133 | |
1-month USD LIBOR + 3.250% 12/02/2026 | 3.397% | 1,984,903 | 1,960,092 | |
Total | 20,146,785 | |||
Railroads 0.3% | ||||
Genesee & Wyoming, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.000% 12/30/2026 | 2.147% | 1,989,924 | 1,970,523 | |
Restaurants 1.3% | ||||
IRB Holding Corp./Arby’s/Buffalo Wild Wings(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.250% Floor 1.000% 12/15/2027 | 4.250% | 1,990,000 | 1,981,821 | |
KFC Holding Co./Yum! Brands(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 1.750% 03/15/2028 | 1.839% | 2,119,524 | 2,117,637 |
20 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
New Red Finance, Inc./Burger King/Tim Hortons(e),(f) | ||||
Tranche B4 Term Loan | ||||
3-month USD LIBOR + 1.750% 11/19/2026 | 1.842% | 4,211,119 | 4,126,896 | |
Whatabrands LLC(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.500% 08/03/2028 | 3.750% | 1,606,682 | 1,598,312 | |
Total | 9,824,666 | |||
Retailers 2.6% | ||||
Belk, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 7.500% Floor 1.000% 07/31/2025 | 8.500% | 532,052 | 531,722 | |
Belk, Inc.(e) | ||||
1st Lien Term Loan | ||||
07/31/2025 | 13.000% | 1,767,488 | 1,334,454 | |
Burlington Coat Factory Warehouse Corp.(e),(f) | ||||
Tranche B6 Term Loan | ||||
1-month USD LIBOR + 2.000% 06/24/2028 | 2.090% | 2,322,033 | 2,303,642 | |
Culligan AI Aqua Merger Sub(e),(f),(g) | ||||
Delayed Draw Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.500% 07/30/2028 | 4.500% | 260,234 | 260,073 | |
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.500% 07/30/2028 | 4.500% | 2,081,871 | 2,080,581 | |
Great Outdoors Group, LLC(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 4.250% Floor 0.750% 03/06/2028 | 5.000% | 4,888,767 | 4,891,211 | |
Harbor Freight Tools USA, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.500% 10/19/2027 | 3.250% | 4,962,500 | 4,935,355 | |
PetSmart, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 02/11/2028 | 4.500% | 3,000,000 | 2,997,000 | |
Total | 19,334,038 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Technology 17.8% | ||||
Arches Buyer, Inc./Ancestry.com(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.500% 12/06/2027 | 3.750% | 2,487,500 | 2,470,237 | |
Atlas CC Acquisition Corp.(e),(f),(g) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 4.250% Floor 0.750% 05/25/2028 | 5.000% | 2,160,563 | 2,166,419 | |
Tranche C Term Loan | ||||
1-month USD LIBOR + 4.250% Floor 0.750% 05/25/2028 | 5.000% | 439,437 | 440,627 | |
Atlas Purchaser, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 5.250% Floor 0.750% 05/08/2028 | 6.000% | 3,000,000 | 2,940,000 | |
Avaya, Inc.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 4.250% 12/15/2027 | 4.343% | 2,982,808 | 2,986,537 | |
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 4.000% 12/15/2027 | 4.093% | 1,195,555 | 1,194,910 | |
BY Crown Parent LLC(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 1.000% 02/02/2026 | 4.000% | 1,609,991 | 1,599,928 | |
Camelot U.S. Acquisition 1 Co./Thomson Reuters Intellectual Property & Science(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 1.000% 10/30/2026 | 4.000% | 2,738,744 | 2,737,046 | |
Celestica, Inc.(c),(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.125% 06/27/2025 | 2.211% | 2,531,786 | 2,512,797 | |
Celestica, Inc.(e),(f) | ||||
Tranche B2 Term Loan | ||||
3-month USD LIBOR + 2.500% 06/27/2025 | 2.586% | 435,000 | 432,825 | |
Cloudera, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% Floor 0.750% 12/22/2027 | 3.250% | 1,421,429 | 1,419,652 |
Columbia Floating Rate Fund | Annual Report 2021 | 21 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
CommScope, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.250% 04/06/2026 | 3.342% | 3,038,363 | 3,004,181 | |
CoreLogic, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 06/02/2028 | 4.000% | 1,750,000 | 1,739,605 | |
Cyxtera DC Holdings, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.000% Floor 1.000% 05/01/2024 | 4.000% | 1,949,033 | 1,901,925 | |
Dawn Acquisition LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.750% 12/31/2025 | 3.897% | 4,285,636 | 3,584,763 | |
DCert Buyer, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.000% 10/16/2026 | 4.092% | 2,498,400 | 2,492,853 | |
Dun & Bradstreet Corp. (The)(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 3.250% 02/06/2026 | 3.336% | 3,625,946 | 3,593,639 | |
Endurance International Group Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.750% 02/10/2028 | 4.250% | 2,153,846 | 2,111,437 | |
Everi Holdings(e),(f),(g) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 2.750% 08/03/2028 | 3.000% | 1,032,462 | 1,026,010 | |
Evertec Group LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.500% 11/27/2024 | 3.592% | 2,342,761 | 2,339,833 | |
Idemia Group S.A.S.(e),(f) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 4.500% Floor 0.750% 01/10/2026 | 5.250% | 3,372,286 | 3,351,209 | |
Idera, Inc.(e),(f) | ||||
Tranche B1 1st Lien Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 03/02/2028 | 4.500% | 2,686,449 | 2,676,939 | |
Informatica LLC(e) | ||||
2nd Lien Term Loan | ||||
02/25/2025 | 7.125% | 250,000 | 254,875 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Informatica LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% 02/25/2027 | 3.342% | 3,256,275 | 3,217,395 | |
Ingram Micro Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 06/30/2028 | 4.000% | 1,384,615 | 1,384,615 | |
ION Trading Finance Ltd.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.750% 04/01/2028 | 4.917% | 1,941,176 | 1,942,399 | |
LogMeIn, Inc.(e),(f),(g) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 4.750% 08/31/2027 | 4.850% | 3,490,000 | 3,474,190 | |
Lummus Technology Holdings V LLC(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 1.000% 06/30/2027 | 3.592% | 1,990,013 | 1,972,281 | |
MA FinanceCo LLC(e),(f) | ||||
Tranche B3 Term Loan | ||||
3-month USD LIBOR + 2.750% 06/21/2024 | 2.842% | 695,879 | 684,863 | |
Tranche B4 Term Loan | ||||
1-month USD LIBOR + 4.250% Floor 1.000% 06/05/2025 | 5.250% | 613,281 | 615,323 | |
Maxar Technologies Ltd.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.750% 10/04/2024 | 2.850% | 1,988,586 | 1,967,149 | |
McAfee LLC(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 3.750% 09/30/2024 | 3.840% | 3,450,244 | 3,445,518 | |
Misys Ltd./Almonde/Tahoe/Finastra USA(e),(f),(g) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.500% Floor 1.000% 06/13/2024 | 4.500% | 3,967,516 | 3,901,100 | |
Monotype Imaging Holdings Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 5.500% 10/09/2026 | 6.500% | 1,937,500 | 1,929,033 | |
MYOB US Borrower LLC(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 4.000% 05/06/2026 | 4.092% | 1,617,000 | 1,605,552 |
22 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Natel Engineering Co., Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 5.000% Floor 1.000% 04/30/2026 | 6.000% | 2,908,084 | 2,768,147 | |
NCR Corp.(c),(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 2.500% 08/28/2026 | 2.630% | 1,962,350 | 1,920,650 | |
Neustar, Inc.(e),(f) | ||||
Tranche B5 1st Lien Term Loan | ||||
3-month USD LIBOR + 4.500% 08/08/2024 | 5.500% | 2,885,162 | 2,812,427 | |
Nielsen Finance LLC/VNU, Inc.(e),(f) | ||||
Tranche B4 Term Loan | ||||
3-month USD LIBOR + 2.000% 10/04/2023 | 2.103% | 2,784,855 | 2,776,167 | |
Peraton Corp.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
3-month USD LIBOR + 3.750% Floor 0.750% 02/01/2028 | 4.500% | 3,823,750 | 3,817,785 | |
Pitney Bowes, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 4.000% 03/17/2028 | 4.100% | 2,588,108 | 2,590,541 | |
Presidio Holdings Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.500% 01/22/2027 | 3.628% | 1,745,592 | 1,733,600 | |
Proofpoint, Inc.(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.500% 06/09/2028 | 2.500% | 2,000,000 | 1,979,000 | |
Rackspace Technology Global, Inc.(e),(f) | ||||
Tranche B 1st Lien Term Loan | ||||
1-month USD LIBOR + 2.750% Floor 0.750% 02/15/2028 | 3.500% | 2,244,375 | 2,215,714 | |
Riverbed Technology, Inc.(e),(f) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 6.500% Floor 1.000% 12/31/2026 | 7.500% | 626,258 | 482,218 | |
Term Loan | ||||
1-month USD LIBOR + 6.000% Floor 1.000% 12/31/2025 | 7.000% | 1,334,589 | 1,257,436 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Sabre GLBL Inc.(e),(f),(g) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 12/17/2027 | 4.000% | 739,063 | 729,825 | |
Tranche B2 Term Loan | ||||
1-month USD LIBOR + 3.500% Floor 0.500% 12/17/2027 | 4.000% | 1,178,110 | 1,163,384 | |
SCS Holdings I, Inc./Sirius Computer Solutions, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.500% 07/01/2026 | 3.592% | 1,739,633 | 1,732,170 | |
Seattle SpinCo, Inc.(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 2.750% 06/21/2024 | 2.842% | 2,583,523 | 2,542,626 | |
Sitel Group(e),(f),(g) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.500% 08/03/2028 | 4.250% | 2,065,635 | 2,062,185 | |
Sophia LP(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.750% Floor 0.750% 10/07/2027 | 4.500% | 1,791,000 | 1,788,439 | |
Sovos Compliance LLC(e),(f),(g) | ||||
Delayed Draw Term Loan | ||||
1-month USD LIBOR + 4.500% Floor 0.500% 07/29/2028 | 5.000% | 136,736 | 136,736 | |
Term Loan | ||||
1-month USD LIBOR + 4.500% Floor 0.500% 07/29/2028 | 5.000% | 791,798 | 791,798 | |
SS&C Technologies Holdings, Inc.(e),(f) | ||||
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 1.750% 04/16/2025 | 1.842% | 731,046 | 719,664 | |
Tranche B4 Term Loan | ||||
1-month USD LIBOR + 1.750% 04/16/2025 | 1.842% | 579,124 | 570,107 | |
Tempo Acquisition LLC(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.250% Floor 0.500% 11/02/2026 | 3.342% | 1,984,962 | 1,980,834 | |
TIBCO Software, Inc.(e),(f) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.250% 03/03/2028 | 7.350% | 1,250,000 | 1,259,375 |
Columbia Floating Rate Fund | Annual Report 2021 | 23 |
July 31, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Tranche B3 Term Loan | ||||
1-month USD LIBOR + 3.750% 06/30/2026 | 3.850% | 2,200,960 | 2,180,337 | |
TTM Technologies, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.500% 09/28/2024 | 2.600% | 1,020,496 | 1,016,241 | |
UKG, Inc.(e),(f) | ||||
1st Lien Term Loan | ||||
3-month USD LIBOR + 3.750% 05/04/2026 | 3.842% | 2,223,062 | 2,220,705 | |
1-month USD LIBOR + 3.250% Floor 0.750% 05/04/2026 | 4.000% | 2,977,538 | 2,974,113 | |
Ultra Clean Holdings, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.750% 08/27/2025 | 3.842% | 2,136,745 | 2,135,847 | |
Veritas, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 5.000% Floor 1.000% 09/01/2025 | 6.000% | 1,985,025 | 1,995,943 | |
Verscend Holdings Corp.(e),(f) | ||||
Tranche B1 Term Loan | ||||
1-month USD LIBOR + 4.000% 08/27/2025 | 4.092% | 2,500,000 | 2,493,125 | |
Xperi Holding Corp.(c),(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.500% 06/08/2028 | 3.592% | 3,299,322 | 3,278,701 | |
Total | 133,243,505 | |||
Transportation Services 0.2% | ||||
First Student/Transit(e),(f),(g) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.500% 07/21/2028 | 3.500% | 1,055,858 | 1,047,770 | |
Tranche C Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 0.500% 07/21/2028 | 3.500% | 389,746 | 386,760 | |
Total | 1,434,530 | |||
Wireless 1.1% | ||||
Cellular South, Inc.(c),(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 2.250% 05/17/2024 | 4.500% | 2,287,000 | 2,241,260 |
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Numericable US LLC(e),(f) | ||||
Tranche B11 Term Loan | ||||
3-month USD LIBOR + 2.750% 07/31/2025 | 2.879% | 3,399,125 | 3,308,470 | |
SBA Senior Finance II LLC(e),(f) | ||||
Term Loan | ||||
3-month USD LIBOR + 1.750% 04/11/2025 | 1.850% | 2,824,161 | 2,792,672 | |
Total | 8,342,402 | |||
Wirelines 1.1% | ||||
Level 3 Financing, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
3-month USD LIBOR + 1.750% 03/01/2027 | 1.842% | 2,395,028 | 2,342,648 | |
Lumen Technologies, Inc.(e),(f) | ||||
Tranche B Term Loan | ||||
1-month USD LIBOR + 2.250% 03/15/2027 | 2.342% | 1,477,500 | 1,452,486 | |
Zayo Group Holdings, Inc.(e),(f) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% 03/09/2027 | 3.092% | 4,447,533 | 4,372,103 | |
Total | 8,167,237 | |||
Total Senior Loans (Cost $682,119,991) | 676,257,997 |
Warrants 0.6% | ||
Issuer | Shares | Value ($) |
Communication Services 0.6% | ||
Diversified Telecommunication Services 0.3% | ||
Windstream Corp.(a) | 139,708 | 2,130,547 |
Entertainment 0.0% | ||
Cineworld Finance US, Inc.(a) | 239,433 | 104,153 |
Media 0.3% | ||
iHeartCommunications, Inc.(a) | 84,607 | 2,136,327 |
Total Communication Services | 4,371,027 | |
Financials —% | ||
Diversified Financial Services —% | ||
Spectacle BidCo Holdings, Inc.(a),(b),(c) | 190,476 | 0 |
Total Financials | 0 | |
Total Warrants (Cost $2,941,136) | 4,371,027 | |
24 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Money Market Funds 6.6% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.053%(k),(l) | 49,905,909 | 49,900,918 |
Total Money Market Funds (Cost $49,900,918) | 49,900,918 | |
Total Investments in Securities (Cost: $784,327,949) | 781,475,080 | |
Other Assets & Liabilities, Net | (31,443,676) | |
Net Assets | 750,031,404 |
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At July 31, 2021, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(c) | Valuation based on significant unobservable inputs. |
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At July 31, 2021, the total value of these securities amounted to $22,964,466, which represents 3.06% of total net assets. |
(e) | The stated interest rate represents the weighted average interest rate at July 31, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. These base lending rates are primarily the LIBOR and other short-term rates. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(f) | Variable rate security. The interest rate shown was the current rate as of July 31, 2021. |
(g) | Represents a security purchased on a forward commitment basis. |
(h) | Represents a security purchased on a when-issued basis. |
(i) | At July 31, 2021, the Fund had unfunded senior loan commitments pursuant to the terms of the loan agreement. The Fund receives a stated coupon rate until the borrower draws on the loan commitment, at which time the rate will become the stated rate in the loan agreement. |
Borrower | Unfunded Commitment ($) |
Hillman Group, Inc. (The) Delayed Draw Term Loan 07/14/2028 0.260% | 388,186 |
National Mentor Holdings, Inc./Civitas Solutions, Inc. Delayed Draw Term Loan 03/02/2028 4.500% | 122,111 |
(j) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At July 31, 2021, the total value of these securities amounted to $286,168, which represents 0.04% of total net assets. |
(k) | The rate shown is the seven-day current annualized yield at July 31, 2021. |
(l) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended July 31, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.053% | ||||||||
25,361,353 | 296,767,984 | (272,228,419) | — | 49,900,918 | (3,918) | 34,050 | 49,905,909 |
LIBOR | London Interbank Offered Rate |
Columbia Floating Rate Fund | Annual Report 2021 | 25 |
July 31, 2021
■ | 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 | ||||
Common Stocks | ||||
Communication Services | 673,992 | 7,010,022 | 0* | 7,684,014 |
Consumer Discretionary | 210,767 | 6,410 | — | 217,177 |
Energy | — | 643,138 | 1,387,813 | 2,030,951 |
Financials | — | — | 0* | 0* |
Industrials | — | 1,157,963 | — | 1,157,963 |
Total Common Stocks | 884,759 | 8,817,533 | 1,387,813 | 11,090,105 |
Convertible Bonds | — | 1,537,500 | — | 1,537,500 |
Corporate Bonds & Notes | — | 31,438,783 | — | 31,438,783 |
Exchange-Traded Fixed Income Funds | 6,878,750 | — | — | 6,878,750 |
Senior Loans | — | 657,610,891 | 18,647,106 | 676,257,997 |
Warrants | ||||
Communication Services | — | 4,371,027 | — | 4,371,027 |
Financials | — | — | 0* | 0* |
Total Warrants | — | 4,371,027 | 0* | 4,371,027 |
Money Market Funds | 49,900,918 | — | — | 49,900,918 |
Total Investments in Securities | 57,664,427 | 703,775,734 | 20,034,919 | 781,475,080 |
* | Rounds to zero. |
26 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
The Fund’s assets assigned to the Level 2 input category are generally valued using the market approach, in which a security’s value is determined through reference to prices and information from market transactions for similar or identical assets. These assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The model utilized by such third party statistical pricing service takes into account a security’s correlation to available market data including, but not limited to, intraday index, ADR, and exchange-traded fund movements.
Balance as of 07/31/2020 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 07/31/2021 ($) | |
Common Stocks | 1,452,523 | — | (899) | (272,937) | 225,743 | (1) | — | (16,616) | 1,387,813 |
Senior Loans | 25,393,953 | 88,381 | 137,480 | 703,480 | 4,974,562 | (11,147,462) | 8,991,141 | (10,494,429) | 18,647,106 |
Warrants | 668,395 | — | — | (230,000) | 230,000 | — | — | (668,395) | 0 (b) |
Total | 27,514,871 | 88,381 | 136,581 | 200,543 | 5,430,305 | (11,147,463) | 8,991,141 | (11,179,440) | 20,034,919 |
Columbia Floating Rate Fund | Annual Report 2021 | 27 |
July 31, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $734,427,031) | $731,574,162 |
Affiliated issuers (cost $49,900,918) | 49,900,918 |
Cash | 4,602,661 |
Receivable for: | |
Investments sold | 914,912 |
Investments sold on a delayed delivery basis | 8,127,782 |
Capital shares sold | 2,472,918 |
Dividends | 2,458 |
Interest | 1,897,811 |
Expense reimbursement due from Investment Manager | 490 |
Prepaid expenses | 12,862 |
Total assets | 799,506,974 |
Liabilities | |
Payable for: | |
Investments purchased | 488,750 |
Investments purchased on a delayed delivery basis | 45,862,730 |
Capital shares purchased | 1,010,638 |
Distributions to shareholders | 1,870,521 |
Management services fees | 13,268 |
Distribution and/or service fees | 2,300 |
Transfer agent fees | 44,607 |
Compensation of board members | 99,139 |
Other expenses | 83,617 |
Total liabilities | 49,475,570 |
Net assets applicable to outstanding capital stock | $750,031,404 |
Represented by | |
Paid in capital | 820,399,539 |
Total distributable earnings (loss) | (70,368,135) |
Total - representing net assets applicable to outstanding capital stock | $750,031,404 |
28 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Class A | |
Net assets | $212,381,735 |
Shares outstanding | 6,019,445 |
Net asset value per share | $35.28 |
Maximum sales charge | 3.00% |
Maximum offering price per share (calculated by dividing the net asset value per share by 1.0 minus the maximum sales charge for Class A shares) | $36.37 |
Advisor Class | |
Net assets | $21,909,881 |
Shares outstanding | 621,940 |
Net asset value per share | $35.23 |
Class C | |
Net assets | $30,172,713 |
Shares outstanding | 855,012 |
Net asset value per share | $35.29 |
Institutional Class | |
Net assets | $249,552,462 |
Shares outstanding | 7,082,662 |
Net asset value per share | $35.23 |
Institutional 2 Class | |
Net assets | $95,567,032 |
Shares outstanding | 2,698,276 |
Net asset value per share | $35.42 |
Institutional 3 Class | |
Net assets | $139,132,370 |
Shares outstanding | 3,945,126 |
Net asset value per share | $35.27 |
Class R | |
Net assets | $1,315,211 |
Shares outstanding | 37,246 |
Net asset value per share | $35.31 |
Columbia Floating Rate Fund | Annual Report 2021 | 29 |
Year Ended July 31, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $318,984 |
Dividends — affiliated issuers | 34,050 |
Interest | 27,506,725 |
Interfund lending | 336 |
Total income | 27,860,095 |
Expenses: | |
Management services fees | 4,241,794 |
Distribution and/or service fees | |
Class A | 503,867 |
Class C | 376,842 |
Class R | 7,436 |
Transfer agent fees | |
Class A | 196,492 |
Advisor Class | 18,651 |
Class C | 36,945 |
Institutional Class | 207,425 |
Institutional 2 Class | 44,381 |
Institutional 3 Class | 6,701 |
Class R | 1,450 |
Compensation of board members | 48,768 |
Custodian fees | 131,408 |
Printing and postage fees | 40,524 |
Registration fees | 127,469 |
Audit fees | 39,500 |
Legal fees | 14,250 |
Compensation of chief compliance officer | 121 |
Other | 36,876 |
Total expenses | 6,080,900 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (278,195) |
Expense reduction | (20) |
Total net expenses | 5,802,685 |
Net investment income | 22,057,410 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | (17,897,373) |
Investments — affiliated issuers | (3,918) |
Net realized loss | (17,901,291) |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 53,730,011 |
Net change in unrealized appreciation (depreciation) | 53,730,011 |
Net realized and unrealized gain | 35,828,720 |
Net increase in net assets resulting from operations | $57,886,130 |
30 | Columbia Floating Rate Fund | Annual Report 2021 |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | |
Operations | ||
Net investment income | $22,057,410 | $35,614,209 |
Net realized loss | (17,901,291) | (28,893,211) |
Net change in unrealized appreciation (depreciation) | 53,730,011 | (38,794,933) |
Net increase (decrease) in net assets resulting from operations | 57,886,130 | (32,073,935) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (6,036,999) | (11,450,985) |
Advisor Class | (621,624) | (1,091,395) |
Class C | (837,484) | (2,360,359) |
Institutional Class | (6,902,732) | (15,241,394) |
Institutional 2 Class | (2,551,217) | (2,931,443) |
Institutional 3 Class | (3,488,582) | (4,339,763) |
Class R | (40,694) | (83,525) |
Total distributions to shareholders | (20,479,332) | (37,498,864) |
Increase (decrease) in net assets from capital stock activity | 80,518,152 | (337,504,426) |
Total increase (decrease) in net assets | 117,924,950 | (407,077,225) |
Net assets at beginning of year | 632,106,454 | 1,039,183,679 |
Net assets at end of year | $750,031,404 | $632,106,454 |
Columbia Floating Rate Fund | Annual Report 2021 | 31 |
Year Ended | Year Ended | |||
July 31, 2021 | July 31, 2020 | |||
Shares(a) | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,360,315 | 47,505,483 | 878,497 | 29,895,717 |
Distributions reinvested | 168,573 | 5,863,512 | 327,894 | 11,229,165 |
Redemptions | (1,671,320) | (57,672,560) | (4,051,966) | (138,175,598) |
Net decrease | (142,432) | (4,303,565) | (2,845,575) | (97,050,716) |
Advisor Class | ||||
Subscriptions | 254,730 | 8,909,862 | 354,712 | 12,197,877 |
Distributions reinvested | 17,881 | 621,353 | 31,891 | 1,090,425 |
Redemptions | (250,733) | (8,619,954) | (603,189) | (20,568,111) |
Net increase (decrease) | 21,878 | 911,261 | (216,586) | (7,279,809) |
Class C | ||||
Subscriptions | 153,611 | 5,385,087 | 261,306 | 9,064,650 |
Distributions reinvested | 21,338 | 740,211 | 62,471 | 2,140,520 |
Redemptions | (769,479) | (26,746,574) | (975,481) | (33,108,922) |
Net decrease | (594,530) | (20,621,276) | (651,704) | (21,903,752) |
Institutional Class | ||||
Subscriptions | 3,469,850 | 121,185,885 | 3,475,219 | 117,088,968 |
Distributions reinvested | 164,826 | 5,726,721 | 388,934 | 13,338,055 |
Redemptions | (2,992,997) | (103,255,233) | (9,884,754) | (334,121,214) |
Net increase (decrease) | 641,679 | 23,657,373 | (6,020,601) | (203,694,191) |
Institutional 2 Class | ||||
Subscriptions | 1,298,817 | 45,577,648 | 1,855,150 | 64,433,170 |
Distributions reinvested | 72,918 | 2,550,776 | 86,065 | 2,930,350 |
Redemptions | (735,768) | (25,496,012) | (1,444,393) | (49,669,638) |
Net increase | 635,967 | 22,632,412 | 496,822 | 17,693,882 |
Institutional 3 Class | ||||
Subscriptions | 1,770,785 | 61,786,829 | 356,506 | 12,426,773 |
Distributions reinvested | 99,985 | 3,485,481 | 126,560 | 4,338,637 |
Redemptions | (192,248) | (6,682,908) | (1,171,705) | (41,315,048) |
Net increase (decrease) | 1,678,522 | 58,589,402 | (688,639) | (24,549,638) |
Class R | ||||
Subscriptions | 18,777 | 659,715 | 20,143 | 702,136 |
Distributions reinvested | 1,060 | 36,894 | 1,790 | 61,116 |
Redemptions | (29,877) | (1,044,064) | (42,576) | (1,483,454) |
Net decrease | (10,040) | (347,455) | (20,643) | (720,202) |
Total net increase (decrease) | 2,231,044 | 80,518,152 | (9,946,926) | (337,504,426) |
(a) | Share activity has been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
32 | Columbia Floating Rate Fund | Annual Report 2021 |
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(c) | ||||||
Year Ended 7/31/2021 | $33.22 | 1.12 | 1.98 | 3.10 | (1.04) | (1.04) |
Year Ended 7/31/2020 | $35.88 | 1.48 | (2.62) | (1.14) | (1.52) | (1.52) |
Year Ended 7/31/2019 | $36.61 | 1.68 | (0.69) | 0.99 | (1.72) | (1.72) |
Year Ended 7/31/2018 | $36.24 | 1.40 | 0.29 | 1.69 | (1.32) | (1.32) |
Year Ended 7/31/2017 | $35.55 | 1.32 | 0.69 | 2.01 | (1.32) | (1.32) |
Advisor Class(c) | ||||||
Year Ended 7/31/2021 | $33.17 | 1.21 | 1.97 | 3.18 | (1.12) | (1.12) |
Year Ended 7/31/2020 | $35.82 | 1.56 | (2.61) | (1.05) | (1.60) | (1.60) |
Year Ended 7/31/2019 | $36.55 | 1.76 | (0.69) | 1.07 | (1.80) | (1.80) |
Year Ended 7/31/2018 | $36.18 | 1.52 | 0.29 | 1.81 | (1.44) | (1.44) |
Year Ended 7/31/2017 | $35.49 | 1.40 | 0.73 | 2.13 | (1.44) | (1.44) |
Class C(c) | ||||||
Year Ended 7/31/2021 | $33.23 | 0.87 | 1.97 | 2.84 | (0.78) | (0.78) |
Year Ended 7/31/2020 | $35.89 | 1.24 | (2.62) | (1.38) | (1.28) | (1.28) |
Year Ended 7/31/2019 | $36.62 | 1.40 | (0.69) | 0.71 | (1.44) | (1.44) |
Year Ended 7/31/2018 | $36.25 | 1.12 | 0.29 | 1.41 | (1.04) | (1.04) |
Year Ended 7/31/2017 | $35.56 | 1.04 | 0.73 | 1.77 | (1.08) | (1.08) |
Institutional Class(c) | ||||||
Year Ended 7/31/2021 | $33.18 | 1.21 | 1.96 | 3.17 | (1.12) | (1.12) |
Year Ended 7/31/2020 | $35.83 | 1.56 | (2.61) | (1.05) | (1.60) | (1.60) |
Year Ended 7/31/2019 | $36.56 | 1.76 | (0.69) | 1.07 | (1.80) | (1.80) |
Year Ended 7/31/2018 | $36.20 | 1.48 | 0.32 | 1.80 | (1.44) | (1.44) |
Year Ended 7/31/2017 | $35.51 | 1.36 | 0.77 | 2.13 | (1.44) | (1.44) |
Institutional 2 Class(c) | ||||||
Year Ended 7/31/2021 | $33.35 | 1.22 | 1.99 | 3.21 | (1.14) | (1.14) |
Year Ended 7/31/2020 | $36.01 | 1.52 | (2.54) | (1.02) | (1.64) | (1.64) |
Year Ended 7/31/2019 | $36.74 | 1.76 | (0.69) | 1.07 | (1.80) | (1.80) |
Year Ended 7/31/2018 | $36.38 | 1.56 | 0.24 | 1.80 | (1.44) | (1.44) |
Year Ended 7/31/2017 | $35.69 | 1.40 | 0.73 | 2.13 | (1.44) | (1.44) |
34 | Columbia Floating Rate Fund | Annual Report 2021 |
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(c) | |||||||
Year Ended 7/31/2021 | $35.28 | 9.35% | 1.06% | 1.02%(d) | 3.24% | 75% | $212,382 |
Year Ended 7/31/2020 | $33.22 | (3.11%) | 1.05% | 1.02%(d) | 4.32% | 37% | $204,715 |
Year Ended 7/31/2019 | $35.88 | 2.79% | 1.02% | 1.02% | 4.68% | 32% | $323,191 |
Year Ended 7/31/2018 | $36.61 | 4.75% | 1.04% | 1.03%(d) | 3.85% | 67% | $386,052 |
Year Ended 7/31/2017 | $36.24 | 5.74% | 1.05% | 1.03% | 3.58% | 76% | $366,211 |
Advisor Class(c) | |||||||
Year Ended 7/31/2021 | $35.23 | 9.73% | 0.81% | 0.77%(d) | 3.48% | 75% | $21,910 |
Year Ended 7/31/2020 | $33.17 | (2.99%) | 0.80% | 0.77%(d) | 4.56% | 37% | $19,905 |
Year Ended 7/31/2019 | $35.82 | 3.05% | 0.77% | 0.77% | 4.95% | 32% | $29,255 |
Year Ended 7/31/2018 | $36.55 | 5.01% | 0.80% | 0.78%(d) | 4.14% | 67% | $35,048 |
Year Ended 7/31/2017 | $36.18 | 6.13% | 0.80% | 0.78% | 3.84% | 76% | $17,868 |
Class C(c) | |||||||
Year Ended 7/31/2021 | $35.29 | 8.56% | 1.81% | 1.77%(d) | 2.52% | 75% | $30,173 |
Year Ended 7/31/2020 | $33.23 | (3.83%) | 1.80% | 1.77%(d) | 3.56% | 37% | $48,167 |
Year Ended 7/31/2019 | $35.89 | 2.02% | 1.77% | 1.77% | 3.93% | 32% | $75,406 |
Year Ended 7/31/2018 | $36.62 | 3.96% | 1.79% | 1.78%(d) | 3.09% | 67% | $89,274 |
Year Ended 7/31/2017 | $36.25 | 4.96% | 1.80% | 1.78% | 2.83% | 76% | $99,233 |
Institutional Class(c) | |||||||
Year Ended 7/31/2021 | $35.23 | 9.73% | 0.81% | 0.77%(d) | 3.49% | 75% | $249,552 |
Year Ended 7/31/2020 | $33.18 | (2.99%) | 0.80% | 0.77%(d) | 4.59% | 37% | $213,695 |
Year Ended 7/31/2019 | $35.83 | 3.05% | 0.77% | 0.77% | 4.93% | 32% | $446,512 |
Year Ended 7/31/2018 | $36.56 | 5.01% | 0.79% | 0.78%(d) | 4.09% | 67% | $534,756 |
Year Ended 7/31/2017 | $36.20 | 6.01% | 0.80% | 0.78% | 3.82% | 76% | $505,884 |
Institutional 2 Class(c) | |||||||
Year Ended 7/31/2021 | $35.42 | 9.70% | 0.77% | 0.73% | 3.51% | 75% | $95,567 |
Year Ended 7/31/2020 | $33.35 | (2.80%) | 0.77% | 0.73% | 4.51% | 37% | $68,780 |
Year Ended 7/31/2019 | $36.01 | 2.98% | 0.74% | 0.74% | 4.91% | 32% | $56,376 |
Year Ended 7/31/2018 | $36.74 | 5.16% | 0.76% | 0.74% | 4.23% | 67% | $103,392 |
Year Ended 7/31/2017 | $36.38 | 6.04% | 0.75% | 0.74% | 3.86% | 76% | $20,485 |
Columbia Floating Rate Fund | Annual Report 2021 | 35 |
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(c) | ||||||
Year Ended 7/31/2021 | $33.21 | 1.23 | 1.99 | 3.22 | (1.16) | (1.16) |
Year Ended 7/31/2020 | $35.87 | 1.60 | (2.62) | (1.02) | (1.64) | (1.64) |
Year Ended 7/31/2019 | $36.60 | 1.80 | (0.69) | 1.11 | (1.84) | (1.84) |
Year Ended 7/31/2018 | $36.23 | 1.52 | 0.29 | 1.81 | (1.44) | (1.44) |
Year Ended 7/31/2017 | $35.56 | 1.40 | 0.71 | 2.11 | (1.44) | (1.44) |
Class R(c) | ||||||
Year Ended 7/31/2021 | $33.25 | 1.04 | 1.97 | 3.01 | (0.95) | (0.95) |
Year Ended 7/31/2020 | $35.91 | 1.40 | (2.62) | (1.22) | (1.44) | (1.44) |
Year Ended 7/31/2019 | $36.64 | 1.60 | (0.73) | 0.87 | (1.60) | (1.60) |
Year Ended 7/31/2018 | $36.27 | 1.28 | 0.33 | 1.61 | (1.24) | (1.24) |
Year Ended 7/31/2017 | $35.59 | 1.20 | 0.72 | 1.92 | (1.24) | (1.24) |
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) | Per share amounts have been adjusted on a retroactive basis to reflect a 4 to 1 reverse stock split completed after the close of business on September 11, 2020. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
36 | Columbia Floating Rate Fund | Annual Report 2021 |
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(c) | |||||||
Year Ended 7/31/2021 | $35.27 | 9.82% | 0.72% | 0.68% | 3.55% | 75% | $139,132 |
Year Ended 7/31/2020 | $33.21 | (2.90%) | 0.71% | 0.69% | 4.66% | 37% | $75,271 |
Year Ended 7/31/2019 | $35.87 | 3.13% | 0.69% | 0.69% | 5.02% | 32% | $106,005 |
Year Ended 7/31/2018 | $36.60 | 5.10% | 0.70% | 0.69% | 4.18% | 67% | $107,695 |
Year Ended 7/31/2017 | $36.23 | 6.11% | 0.70% | 0.70% | 3.82% | 76% | $123,550 |
Class R(c) | |||||||
Year Ended 7/31/2021 | $35.31 | 9.16% | 1.31% | 1.27%(d) | 2.99% | 75% | $1,315 |
Year Ended 7/31/2020 | $33.25 | (3.46%) | 1.30% | 1.27%(d) | 4.06% | 37% | $1,572 |
Year Ended 7/31/2019 | $35.91 | 2.54% | 1.27% | 1.27% | 4.42% | 32% | $2,439 |
Year Ended 7/31/2018 | $36.64 | 4.48% | 1.29% | 1.28%(d) | 3.53% | 67% | $2,844 |
Year Ended 7/31/2017 | $36.27 | 5.48% | 1.30% | 1.28% | 3.33% | 76% | $6,526 |
Columbia Floating Rate Fund | Annual Report 2021 | 37 |
July 31, 2021
38 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Columbia Floating Rate Fund | Annual Report 2021 | 39 |
July 31, 2021
40 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Columbia Floating Rate Fund | Annual Report 2021 | 41 |
July 31, 2021
Effective rate (%) | |
Class A | 0.10 |
Advisor Class | 0.10 |
Class C | 0.10 |
Institutional Class | 0.10 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.10 |
42 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.50 - 1.00(a) | 112,121 |
Class C | — | 1.00(b) | 1,493 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through November 30, 2021 | |
Class A | 1.02% |
Advisor Class | 0.77 |
Class C | 1.77 |
Institutional Class | 0.77 |
Institutional 2 Class | 0.73 |
Institutional 3 Class | 0.68 |
Class R | 1.27 |
Columbia Floating Rate Fund | Annual Report 2021 | 43 |
July 31, 2021
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
67,681 | (65,241) | (2,440) |
Year Ended July 31, 2021 | Year Ended July 31, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
20,479,332 | — | 20,479,332 | 37,498,864 | — | 37,498,864 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized (depreciation) ($) |
2,514,019 | — | (67,925,751) | (2,987,841) |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized (depreciation) ($) |
784,462,921 | 12,953,768 | (15,941,609) | (2,987,841) |
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(8,830,874) | (59,094,877) | (67,925,751) | — |
44 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Lender | 1,266,667 | 0.68 | 15 |
Columbia Floating Rate Fund | Annual Report 2021 | 45 |
July 31, 2021
46 | Columbia Floating Rate Fund | Annual Report 2021 |
July 31, 2021
Columbia Floating Rate Fund | Annual Report 2021 | 47 |
July 31, 2021
48 | Columbia Floating Rate Fund | Annual Report 2021 |
Columbia Floating Rate Fund | Annual Report 2021 | 49 |
Qualified dividend income | Dividends received deduction | Section 163(j) Interest Dividends |
0.16% | 0.06% | 100.00% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 171 | 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 |
50 | Columbia Floating Rate Fund | Annual Report 2021 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2006 | Attorney; specializing in arbitration and mediation; Chief Justice, Minnesota Supreme Court, 1998-2006; Associate Justice, Minnesota Supreme Court, 1996-1998; Fourth Judicial District Court Judge, Hennepin County, 1994-1996; Attorney in private practice and public service, 1984-1993; State Representative, Minnesota House of Representatives, 1979-1993, which included service on the Tax and Financial Institutions and Insurance Committees; Member and Interim Chair, Minnesota Sports Facilities Authority, January 2017-July 2017; Interim President and Chief Executive Officer, Blue Cross and Blue Shield of Minnesota (health care insurance), February-July 2018 | 171 | Trustee, BlueCross BlueShield of Minnesota since 2009 (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; Director, Robina Foundation, 2009-2020 (Chair, 2014-2020) |
Pamela G. Carlton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2007 | President, Springboard — Partners in Cross Cultural Leadership (consulting company) since 2003; Managing Director of US Equity Research, JP Morgan Chase, 1999-2003; Director of US Equity Research, Chase Asset Management, 1996-1999; Co-Director Latin America Research, 1993-1996, COO Global Research, 1992-1996, Co-Director of US Research, 1991-1992, Investment Banker, 1982-1991, Morgan Stanley; Attorney at Cleary Gottlieb Steen & Hamilton LLP, 1980-1982 | 171 | Trustee, New York Presbyterian Hospital Board (Executive Committee and Chair of People Committee) since 1996; Director, DR Bank (Audit Committee) since 2017; Director, Evercore Inc. (Audit Committee, Nominating and Governance Committee) since 2019 |
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 | 169 | Director, EQT Corporation (natural gas producer) since 2019; Director, Whiting Petroleum Corporation (independent oil and gas company) since 2020 |
J. Kevin Connaughton c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1964 | Trustee since 2020(a) | Member, FINRA National Adjudicatory Council since January 2020; Adjunct Professor of Finance, Bentley University since January 2018; 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 | 169 | Director, The Autism Project since March 2015; former Member of the Investment Committee, St. Michael’s College, November 2015-February 2020; former Trustee, St. Michael’s College, June 2017-September 2019; former Trustee, New Century Portfolios, January 2015-December 2017 |
Olive M. Darragh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1962 | Trustee since 2020(a) | 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; Partner, Tudor Investments, 2004-2010; Senior Partner, McKinsey & Company (consulting), 2001-2004 | 169 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Floating Rate Fund | Annual Report 2021 | 51 |
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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1950 | Trustee since 2004 | Trustee Professor of Economics and Management, Bentley University since 1976 (also teaches and conducts research on corporate governance); Dean, McCallum Graduate School of Business, Bentley University, 1992-2002 | 171 | Trustee, MA Taxpayers Foundation since 1997; Board of Governors, Innovation Institute, MA Technology Collaborative, 2010-2019; Board of Directors, The MA Business Roundtable, 2003-2019 |
Brian J. Gallagher c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 171 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1955 | Co-Chair since 2021; Chair of CFST I and CFVIT since 2014; Trustee of CFST I and CFVIT since 1996 and CFST, CFST II, CFVST II, CET I and CET II since 2021 | Independent business executive since May 2006; Executive Vice President – Strategy of United Airlines, December 2002 - May 2006; President of UAL Loyalty Services (airline marketing company), September 2001-December 2002; Executive Vice President and Chief Financial Officer of United Airlines, July 1999-September 2001 | 169 | Director, Spartan Nash Company (food distributor); Director, Aircastle Limited (Chair of Audit Committee) (aircraft leasing); former Director, Nash Finch Company (food distributor), 2005-2013; former Director, SeaCube Container Leasing Ltd. (container leasing), 2010-2013; and former Director, Travelport Worldwide Limited (travel information technology), 2014-2019 |
Nancy T. Lukitsh c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1956 | Trustee since 2011 | Senior Vice President, Partner and Director of Marketing, Wellington Management Company, LLP (investment adviser), 1997-2010; Chair, Wellington Management Portfolios (commingled non-U.S. investment pools), 2007 -2010; Director, Wellington Trust Company, NA and other Wellington affiliates, 1997-2010 | 169 | None |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 169 | Director, CSX Corporation (transportation suppliers); Director, Genworth Financial, Inc. (financial and insurance products and services); Director, PayPal Holdings Inc. (payment and data processing services); Trustee, University of Oklahoma Foundation; former Director, eBay Inc. (online trading community), 2007-2015; and former Director, CIT Bank, CIT Group Inc. (commercial and consumer finance), 2010-2016 |
52 | Columbia Floating Rate Fund | Annual Report 2021 |
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 |
Catherine James Paglia c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, CET I and CET II since 2020; Trustee of CFST, CFST II and CFVST II since 2004 and CFST I and CFVIT since 2021 | Director, Enterprise Asset Management, Inc. (private real estate and asset management company) since September 1998; Managing Director and Partner, Interlaken Capital, Inc., 1989-1997; Vice President, 1982-1985, Principal, 1985-1987, Managing Director, 1987-1989, Morgan Stanley; Vice President, Investment Banking, 1980-1982, Associate, Investment Banking, 1976-1980, Dean Witter Reynolds, Inc. | 171 | Director, Valmont Industries, Inc. (irrigation systems manufacturer) since 2012; Trustee, Carleton College (on the Investment Committee); Trustee, Carnegie Endowment for International Peace (on the Investment Committee) |
Anthony M. Santomero c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1946 | Trustee since 2008 | Richard K. Mellon Professor Emeritus of Finance, The Wharton School, University of Pennsylvania, since 2002; Senior Advisor, McKinsey & Company (consulting), 2006-2008; President, Federal Reserve Bank of Philadelphia, 2000-2006; Professor of Finance, The Wharton School, University of Pennsylvania, 1972-2002 | 171 | Trustee, Penn Mutual Life Insurance Company since March 2008; Director, RenaissanceRe Holdings Ltd. since May 2008; former Director, Citigroup Inc. and Citibank, N.A., 2009-2019; former Trustee, BofA Funds Series Trust (11 funds), 2008-2011 |
Minor M. Shaw c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 171 | Director, BlueCross BlueShield of South Carolina (Chair of Compensation Committee) since April 2008; Trustee, Hollingsworth Funds (on the Investment Committee) since 2016 (previously Board Chair from 2016-2019); Former Advisory Board member, Duke Energy Corp., 2016-2020; Chair of the Duke Endowment; Chair of Greenville – Spartanburg Airport Commission; former Trustee, BofA Funds Series Trust (11 funds), 2003-2011; former Director, Piedmont Natural Gas, 2004-2016; former Director, National Association of Corporate Directors, Carolinas Chapter, 2013-2018; Chair, Daniel-Mickel Foundation |
Columbia Floating Rate Fund | Annual Report 2021 | 53 |
Independent trustees (continued)
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
Natalie A. Trunow c/o Columbia Management Investment Advisers, LLC 290 Congress Street Boston, MA 02210 1967 | Trustee since 2020(a) | Chief Executive Officer, Millennial Portfolio Solutions LLC (asset management and consulting services) since January 2016; Non-executive Member of the Investment Committee, Sarona Asset Management Inc. (private equity firm) since September 2019; Advisor, Horizon Investments (asset management and consulting services) since August 2018; Advisor, Paradigm Asset Management since November 2016; Director of Investments, Casey Family Programs, April 2016-September 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 | 169 | Director, Health Services for Children with Special Needs, Inc.; Director, Consumer Credit Counseling Services (formerly Guidewell Financial Solutions); Independent Director, Investment Committee, Sarona Asset Management |
Sandra 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 | 171 | Director, NAPE Education Foundation, October 2016-October 2020 |
* | The term “Columbia Funds Complex” as used herein includes Columbia Seligman Premium Technology Growth Fund, Tri-Continental Corporation and each series of Columbia Fund Series Trust (CFST), Columbia Funds Series Trust I (CFST I), Columbia Funds Series Trust II (CFST II), Columbia ETF Trust I (CET I), Columbia ETF Trust II (CET II), Columbia Funds Variable Insurance Trust (CFVIT) and Columbia Funds Variable Series Trust II (CFVST II). Messrs. Batejan, Gallagher, Petersen and Santomero and Mses. Blatz, Carlton, Flynn, Paglia, Shaw and Yeager serve as a director of Columbia Seligman Premium Technology Growth Fund and Tri-Continental Corporation. |
(a) | J. Kevin Connaughton was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective March 1, 2016. Natalie A. Trunow was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective September 1, 2016. Olive M. Darragh was appointed a consultant to the Independent Trustees of CFST I and CFVIT effective June 10, 2019. Shareholders of the Funds elected Mr. Connaughton and Mses. Darragh and Trunow as Trustees of CFST, CFST I, CFST II, CET I, CET II, and CFVST II, effective January 1, 2021, and of CFVIT, effective July 1, 2020. |
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 |
Christopher O. Petersen c/o Columbia Management Investment Advisers, LLC 5228 Ameriprise Financial Center Minneapolis, MN 55474 1970 | Trustee since 2020(a) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since September 2021 (previously Vice President and Lead Chief Counsel, January 2015-September 2021); President and Principal Executive Officer of Columbia Funds, 2015-2021; officer of Columbia Funds and affiliated funds since 2007 | 171 | None |
* | 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. |
(a) | Mr. Petersen serves as the Senior Vice President and Assistant Secretary of the Columbia Funds (since 2021). |
54 | Columbia Floating Rate Fund | Annual Report 2021 |
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. Petersen, who is Senior Vice President and Assistant Secretary, 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 |
Daniel J. Beckman 290 Congress Street Boston, MA 02210 1962 | President and Principal Executive Officer (2021) | Vice President – Head of North America Product, Columbia Management Investment Advisers, LLC (since April 2015); officer of Columbia Funds and affiliated funds since 2020. |
Michael G. Clarke 290 Congress Street Boston, MA 02210 1969 | Chief Financial Officer and Principal Financial Officer (2009) and Senior Vice President (2019) | Vice President, Head of North American Operations, and Co-Head of Global Operations, Columbia Management Investment Advisers, LLC, since June 2019 (previously Vice President – Accounting and Tax, May 2010 – May 2019); senior officer of Columbia Funds and affiliated funds since 2002. |
Joseph Beranek 5890 Ameriprise Financial Center Minneapolis, MN 55474 1965 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) (2019) and Principal Financial Officer (2020), CFST, CFST I, CFST II, CFVIT and CFVST II; Assistant Treasurer, CET I and CET II | Vice President – Mutual Fund Accounting and Financial Reporting, Columbia Management Investment Advisers, LLC, since December 2018 and March 2017, respectively (previously Vice President – Pricing and Corporate Actions, May 2010 - March 2017). |
Marybeth Pilat 290 Congress Street Boston, MA 02210 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for CET I and CET II; Assistant Treasurer, CFST, CFST I, CFST II, CFVIT and CFVST II | Vice President – Product Pricing and Administration, Columbia Management Investment Advisers, LLC, since May 2017; Director - Fund Administration, Calvert Investments, August 2015 – March 2017; Vice President - Fund Administration, Legg Mason, May 2015 - July 2015; Vice President - Fund Administration, Columbia Management Investment Advisers, LLC, May 2010 - April 2015. |
William F. Truscott 290 Congress Street Boston, MA 02210 1960 | Senior Vice President (2001) | Formerly, Trustee of Columbia Funds Complex until 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. |
Paul B. Goucher 485 Lexington Avenue New York, NY 10017 1968 | Senior Vice President (2011) and Assistant Secretary (2008) | Senior Vice President and Assistant General Counsel, Ameriprise Financial, Inc. since January 2017 (previously Vice President and Lead Chief Counsel, November 2008 - January 2017 and January 2013 - January 2017, respectively); Vice President, Chief Legal Officer and Assistant Secretary, Columbia Management Investment Advisers, LLC since March 2015 (previously Vice President and Assistant Secretary, May 2010 – March 2015). |
Thomas P. McGuire 290 Congress Street Boston, MA 02210 1972 | Senior Vice President and Chief Compliance Officer (2012) | Vice President – Asset Management Compliance, Ameriprise Financial, Inc., since May 2010; Chief Compliance Officer, Columbia Acorn/Wanger Funds since December 2015; Chief Compliance Officer, Ameriprise Certificate Company September 2010 – September 2020. |
Colin Moore 290 Congress Street Boston, MA 02210 1958 | Senior Vice President (2010) | Executive Vice President and Global Chief Investment Officer, Ameriprise Financial, Inc., since July 2013; Executive Vice President and Global Chief Investment Officer, Columbia Management Investment Advisers, LLC since July 2013. |
Columbia Floating Rate Fund | Annual Report 2021 | 55 |
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 |
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. |
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. |
Lyn Kephart-Strong 5228 Ameriprise Financial Center Minneapolis, MN 55474 1960 | Vice President (2015) | President, Columbia Management Investment Services Corp. since October 2014; Vice President & Resolution Officer, Ameriprise Trust Company since August 2009. |
• | the Fund had sufficient liquidity to both meet redemptions and operate effectively on behalf of shareholders; |
• | the Fund’s highly liquid investment minimum (defined as the minimum percentage of net assets that must be invested in cash and any investment reasonably expected to be convertible to cash in current market conditions in three business days or less without the conversion to cash significantly changing the market value of the investment) was assessed and continues to be appropriate;] |
• | 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. |
56 | Columbia Floating Rate Fund | Annual Report 2021 |
• | Information on the investment performance of the Fund relative to the performance of a group of mutual funds determined to be comparable to the Fund by Broadridge, as well as performance relative to benchmarks; |
• | Information on the Fund’s management fees and total expenses, including information comparing the Fund’s expenses to those of a group of comparable mutual funds, as determined by Broadridge; |
• | The Investment Manager’s agreement to contractually limit or cap total operating expenses for the Fund so that total operating expenses (excluding certain fees and expenses, such as transaction costs and certain other investment related expenses, interest, taxes, acquired fund fees and expenses, and infrequent and/or unusual expenses) would not exceed a specified annual rate, as a percentage of the Fund’s net assets; |
• | Terms of the Management Agreement; |
• | Descriptions of other agreements and arrangements with affiliates of the Investment Manager relating to the operations of the Fund, including agreements with respect to the provision of transfer agency and shareholder services to the Fund; |
• | Descriptions of various services performed by the Investment Manager under the Management Agreement, including portfolio management and portfolio trading practices; |
• | Information regarding any recently negotiated management fees of similarly-managed portfolios of other institutional clients of the Investment Manager; |
• | Information regarding the resources of the Investment Manager, including information regarding senior management, portfolio managers and other personnel; |
• | Information regarding the capabilities of the Investment Manager with respect to compliance monitoring services; |
• | The profitability to the Investment Manager and its affiliates from their relationships with the Fund; and |
• | Report provided by the Board’s independent fee consultant, JDL Consultants, LLC (JDL). |
Columbia Floating Rate Fund | Annual Report 2021 | 57 |
Following an analysis and discussion of the foregoing, and the factors identified below, the Board, including all of the Independent Trustees, approved the renewal of the Management Agreement.
58 | Columbia Floating Rate Fund | Annual Report 2021 |
Comparative fees, costs of services provided and the profits realized by the Investment Manager and its affiliates from their relationships with the Fund
Columbia Floating Rate Fund | Annual Report 2021 | 59 |
On June 15, 2021, the Board, including all of the Independent Trustees, determined that fees payable under the Management Agreement were fair and reasonable in light of the extent and quality of services provided and approved the renewal of the Management Agreement.
60 | Columbia Floating Rate Fund | Annual Report 2021 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
Item 2. Code of Ethics.
(a)The registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.
(b)During the period covered by this report, there were not any amendments to a provision of the code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics definition enumerated in paragraph (b) of this Item.
(c)During the period covered by this report, there were no waivers, including any implicit waivers, from a provision of the code of ethics to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party that relates to one or more of the items set forth in paragraph (b) of this Item.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Trustees has determined that David M. Moffett, Brian J. Gallagher, J. Kevin Connaughton, and Sandra L. Yeager, each of whom are members of the registrant's Board of Trustees and Audit Committee, each qualify as an audit committee financial expert. Mr. Moffett, Mr. Gallagher, Mr. Connaughton, and Ms. Yeager are each independent trustees, as defined in paragraph (a)(2) of this item's instructions.
Item 4. Principal Accountant Fees and Services.
Fee information below is disclosed for the eleven series of the registrant whose reports to stockholders are included in this annual filing. Fiscal Year 2020 also includes fees from a fund that liquidated during the period.
(a)Audit Fees. Aggregate Audit Fees billed by the principal accountant for professional services rendered during the fiscal years ended July 31, 2021 and July 31, 2020 are approximately as follows:
20212020
$364,500 $387,300
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 July 31, 2021 and July 31, 2020 are approximately as follows:
20212020
$2,800 $9,200
Audit-Related Fees include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended July 31, 2021 and July 31, 2020, 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 July 31, 2021 and July 31,
2020 are approximately as follows:
20212020
$7,100 $6,400
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 July 31, 2021 and July 31, 2020, 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 July 31, 2021 and July 31, 2020 are approximately as follows:
2021 | 2020 |
$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 July 31,
2021 and July 31, 2020 are approximately as follows:
20212020
$520,000 $520,000
In fiscal years 2021 and 2020, 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.
*****
(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 July 31, 2021 and July 31,
2020 are approximately as follows:
20212020
$529,800 $535,600
(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 II |
| |
By (Signature and Title) | /s/ Daniel J. Beckman |
| ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
|
Date |
| September 22, 2021 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman | |
|
| Daniel J. Beckman, President and Principal Executive Officer |
Date |
| September 22, 2021 |
By (Signature and Title) | /s/ Michael G. Clarke | |
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer |
|
| and Senior Vice President |
Date |
| September 22, 2021 |
By (Signature and Title) | /s/ Joseph Beranek | |
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal |
|
| Financial Officer |
Date |
| September 22, 2021 |