UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21852
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: February 29
Date of reporting period: August 31, 2023
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Reports to Stockholders.
August 31, 2023 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended August 31, 2023) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 03/20/95 | 3.98 | 11.09 | 6.18 | 7.24 |
Including sales charges | -2.02 | 4.71 | 4.94 | 6.61 | ||
Advisor Class | 12/11/06 | 4.08 | 11.29 | 6.44 | 7.51 | |
Class C | Excluding sales charges | 06/26/00 | 3.57 | 10.28 | 5.39 | 6.43 |
Including sales charges | 2.57 | 9.28 | 5.39 | 6.43 | ||
Institutional Class | 09/27/10 | 4.10 | 11.34 | 6.44 | 7.50 | |
Institutional 2 Class | 12/11/06 | 4.07 | 11.37 | 6.52 | 7.59 | |
Institutional 3 Class | 02/28/13 | 4.16 | 11.49 | 6.59 | 7.67 | |
Class R | 12/11/06 | 3.86 | 10.76 | 5.92 | 6.97 | |
MSCI World Value Index (Net) | 3.33 | 10.24 | 5.23 | 6.54 | ||
MSCI World Index (Net) | 11.11 | 15.60 | 8.33 | 9.28 |
Columbia Global Value Fund | Semiannual Report 2023 | 3 |
(Unaudited)
Equity sector breakdown (%) (at August 31, 2023) | |
Communication Services | 4.9 |
Consumer Discretionary | 4.4 |
Consumer Staples | 11.7 |
Energy | 10.8 |
Financials | 19.8 |
Health Care | 14.6 |
Industrials | 11.4 |
Information Technology | 11.7 |
Materials | 3.1 |
Real Estate | 3.9 |
Utilities | 3.7 |
Total | 100.0 |
Country breakdown (%) (at August 31, 2023) | |
Australia | 1.6 |
Canada | 1.5 |
Finland | 0.9 |
France | 4.1 |
Hong Kong | 0.8 |
Japan | 7.0 |
Netherlands | 4.0 |
Russian Federation | 0.0(a) |
Singapore | 1.8 |
South Korea | 1.5 |
United Kingdom | 5.8 |
United States(b) | 71.0 |
Total | 100.0 |
(a) | Rounds to zero. |
(b) | Includes investments in Money Market Funds and Exchange-Traded Funds. |
4 | Columbia Global Value Fund | Semiannual Report 2023 |
(Unaudited)
March 1, 2023 — August 31, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,039.80 | 1,019.46 | 5.79 | 5.74 | 1.13 |
Advisor Class | 1,000.00 | 1,000.00 | 1,040.80 | 1,020.71 | 4.51 | 4.47 | 0.88 |
Class C | 1,000.00 | 1,000.00 | 1,035.70 | 1,015.63 | 9.67 | 9.58 | 1.89 |
Institutional Class | 1,000.00 | 1,000.00 | 1,041.00 | 1,020.71 | 4.51 | 4.47 | 0.88 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,040.70 | 1,021.01 | 4.21 | 4.17 | 0.82 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,041.60 | 1,021.27 | 3.95 | 3.91 | 0.77 |
Class R | 1,000.00 | 1,000.00 | 1,038.60 | 1,018.15 | 7.12 | 7.05 | 1.39 |
Columbia Global Value Fund | Semiannual Report 2023 | 5 |
August 31, 2023 (Unaudited)
Common Stocks 98.6% | ||
Issuer | Shares | Value ($) |
Australia 1.6% | ||
Northern Star Resources Ltd. | 1,626,532 | 12,462,726 |
Canada 1.5% | ||
Cameco Corp. | 317,076 | 11,731,812 |
Finland 0.9% | ||
UPM-Kymmene OYJ | 219,534 | 7,513,009 |
France 4.1% | ||
AXA SA | 522,704 | 15,704,580 |
BNP Paribas SA | 260,950 | 16,875,024 |
Total | 32,579,604 | |
Hong Kong 0.8% | ||
WH Group Ltd. | 12,771,593 | 6,577,310 |
Japan 7.0% | ||
Daiwabo Holdings Co., Ltd. | 584,100 | 11,839,681 |
ITOCHU Corp. | 355,900 | 13,356,694 |
ORIX Corp. | 809,201 | 15,087,293 |
Takeda Pharmaceutical Co., Ltd. | 510,428 | 15,774,813 |
Total | 56,058,481 | |
Netherlands 4.0% | ||
ING Groep NV | 1,047,186 | 14,837,583 |
Shell PLC | 571,099 | 17,461,509 |
Total | 32,299,092 | |
Russian Federation —% | ||
Lukoil PJSC(a),(b),(c),(d) | 48,225 | — |
Singapore 1.8% | ||
BW LPG Ltd. | 376,920 | 4,566,525 |
Venture Corp., Ltd. | 989,900 | 9,594,662 |
Total | 14,161,187 | |
South Korea 1.5% | ||
Hyundai Home Shopping Network Corp. | 77,381 | 2,552,812 |
Youngone Corp. | 242,344 | 9,835,693 |
Total | 12,388,505 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
United Kingdom 5.7% | ||
BP PLC, ADR | 270,401 | 10,053,509 |
BT Group PLC | 3,420,543 | 5,003,958 |
DCC PLC | 123,958 | 6,782,626 |
Just Group PLC | 6,205,213 | 5,927,016 |
TP Icap Group PLC | 4,361,487 | 9,127,518 |
Vodafone Group PLC | 9,793,118 | 9,078,753 |
Total | 45,973,380 | |
United States 69.7% | ||
Ameren Corp. | 207,352 | 16,436,793 |
AT&T, Inc. | 754,685 | 11,161,791 |
Bank of America Corp. | 606,888 | 17,399,479 |
Baxter International, Inc. | 176,734 | 7,175,400 |
Boston Scientific Corp.(e) | 230,092 | 12,411,162 |
Broadcom, Inc. | 25,427 | 23,466,324 |
Chubb Ltd. | 67,047 | 13,467,731 |
Cisco Systems, Inc. | 352,265 | 20,202,398 |
Coca-Cola Co. (The) | 279,244 | 16,707,169 |
Comcast Corp., Class A | 295,353 | 13,810,706 |
Delta Air Lines, Inc. | 208,906 | 8,957,889 |
Diversified Energy Co. PLC | 2,892,610 | 3,354,720 |
DTE Energy Co. | 122,211 | 12,634,173 |
Eaton Corp. PLC | 70,723 | 16,292,458 |
Elevance Health, Inc. | 22,171 | 9,799,804 |
Eli Lilly & Co. | 21,784 | 12,072,693 |
EOG Resources, Inc. | 110,317 | 14,188,973 |
Equinix, Inc. | 12,136 | 9,482,828 |
Exxon Mobil Corp. | 214,911 | 23,895,954 |
Global Payments, Inc. | 94,854 | 12,017,053 |
Hilton Worldwide Holdings, Inc. | 79,607 | 11,833,581 |
Honeywell International, Inc. | 70,158 | 13,185,495 |
Jazz Pharmaceuticals PLC(e) | 71,328 | 10,225,582 |
Laboratory Corp. of America Holdings | 48,155 | 10,021,055 |
Las Vegas Sands Corp. | 189,790 | 10,411,879 |
MasTec, Inc.(e) | 85,291 | 8,485,602 |
MasterCard, Inc., Class A | 32,325 | 13,338,588 |
Merck & Co., Inc. | 172,640 | 18,814,307 |
6 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Mondelez International, Inc., Class A | 164,278 | 11,706,450 |
Morgan Stanley | 153,123 | 13,038,423 |
MP Materials Corp.(e) | 203,263 | 4,256,327 |
Parker-Hannifin Corp. | 31,494 | 13,129,849 |
Primo Water Corp. | 1,063,941 | 16,235,740 |
Procter & Gamble Co. (The) | 133,335 | 20,578,924 |
Prologis, Inc. | 96,416 | 11,974,867 |
QUALCOMM, Inc. | 127,270 | 14,576,233 |
Realty Income Corp. | 168,128 | 9,421,893 |
Republic Services, Inc. | 69,953 | 10,082,326 |
S&P Global, Inc. | 23,117 | 9,035,511 |
TE Connectivity Ltd. | 95,583 | 12,654,233 |
Vertex Pharmaceuticals, Inc.(e) | 13,869 | 4,831,127 |
Walmart, Inc. | 125,592 | 20,422,515 |
Zoetis, Inc. | 74,714 | 14,233,764 |
Total | 557,429,769 | |
Total Common Stocks (Cost $708,205,965) | 789,174,875 | |
Exchange-Traded Equity Funds 0.4% | ||
Shares | Value ($) | |
United States 0.4% | ||
iShares Russell 1000 Value ETF | 18,105 | 2,878,333 |
Total Exchange-Traded Equity Funds (Cost $2,755,038) | 2,878,333 | |
Money Market Funds 0.8% | ||
Columbia Short-Term Cash Fund, 5.476%(f),(g) | 6,288,309 | 6,286,423 |
Total Money Market Funds (Cost $6,285,376) | 6,286,423 | |
Total Investments in Securities (Cost $717,246,379) | 798,339,631 | |
Other Assets & Liabilities, Net | 1,926,152 | |
Net Assets | $800,265,783 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
4,884,000 AUD | 3,202,759 USD | Morgan Stanley | 09/21/2023 | 36,296 | — |
4,884,000 AUD | 3,161,853 USD | Morgan Stanley | 09/21/2023 | — | (4,610) |
3,195,000 CAD | 2,362,028 USD | Morgan Stanley | 09/21/2023 | — | (3,116) |
2,834,000 CHF | 3,324,643 USD | Morgan Stanley | 09/21/2023 | 110,824 | — |
1,446,000 EUR | 1,573,287 USD | Morgan Stanley | 09/21/2023 | 4,106 | — |
2,537,000 GBP | 3,256,545 USD | Morgan Stanley | 09/21/2023 | 42,430 | — |
2,196,191,000 JPY | 15,606,564 USD | Morgan Stanley | 09/21/2023 | 473,179 | — |
21,000,924,000 KRW | 16,471,287 USD | Morgan Stanley | 09/21/2023 | 590,745 | — |
73,529,000 NOK | 7,206,465 USD | Morgan Stanley | 09/21/2023 | 286,946 | — |
29,456,000 SGD | 22,187,932 USD | Morgan Stanley | 09/21/2023 | 376,321 | — |
3,315,513 USD | 4,884,000 AUD | Morgan Stanley | 09/21/2023 | — | (149,050) |
28,986,765 USD | 38,140,000 CAD | Morgan Stanley | 09/21/2023 | — | (753,093) |
7,247,614 USD | 6,593,000 EUR | Morgan Stanley | 09/21/2023 | — | (92,974) |
3,255,599 USD | 33,400,000 NOK | Morgan Stanley | 09/21/2023 | — | (112,459) |
13,289,554 USD | 21,272,000 NZD | Morgan Stanley | 09/21/2023 | — | (604,607) |
13,197,356 USD | 137,329,000 SEK | Morgan Stanley | 09/21/2023 | — | (644,275) |
7,095,004 USD | 9,588,000 SGD | Morgan Stanley | 09/21/2023 | 4,728 | — |
4,091,023 USD | 5,477,000 SGD | Morgan Stanley | 09/21/2023 | — | (35,408) |
Total | 1,925,575 | (2,399,592) |
Columbia Global Value Fund | Semiannual Report 2023 | 7 |
August 31, 2023 (Unaudited)
(a) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At August 31, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(b) | 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 approved by the Fund’s Board of Trustees. At August 31, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/27/2022 | 48,225 | 4,239,605 | — |
(c) | As a result of sanctions and restricted cross-border payments, certain income and/or principal has not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record the income when it is considered collectible. |
(d) | Valuation based on significant unobservable inputs. |
(e) | Non-income producing investment. |
(f) | The rate shown is the seven-day current annualized yield at August 31, 2023. |
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended August 31, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.476% | ||||||||
4,890,862 | 44,183,964 | (42,789,099) | 696 | 6,286,423 | 286 | 167,901 | 6,288,309 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
USD | US Dollar |
8 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
■ | 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 | ||||
Australia | — | 12,462,726 | — | 12,462,726 |
Canada | 11,731,812 | — | — | 11,731,812 |
Finland | — | 7,513,009 | — | 7,513,009 |
France | — | 32,579,604 | — | 32,579,604 |
Hong Kong | — | 6,577,310 | — | 6,577,310 |
Japan | — | 56,058,481 | — | 56,058,481 |
Netherlands | — | 32,299,092 | — | 32,299,092 |
Russian Federation | — | — | 0* | 0* |
Singapore | — | 14,161,187 | — | 14,161,187 |
South Korea | — | 12,388,505 | — | 12,388,505 |
United Kingdom | 10,053,509 | 35,919,871 | — | 45,973,380 |
United States | 554,075,049 | 3,354,720 | — | 557,429,769 |
Total Common Stocks | 575,860,370 | 213,314,505 | 0* | 789,174,875 |
Exchange-Traded Equity Funds | 2,878,333 | — | — | 2,878,333 |
Money Market Funds | 6,286,423 | — | — | 6,286,423 |
Total Investments in Securities | 585,025,126 | 213,314,505 | 0* | 798,339,631 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 1,925,575 | — | 1,925,575 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (2,399,592) | — | (2,399,592) |
Total | 585,025,126 | 212,840,488 | 0* | 797,865,614 |
* | Rounds to zero. |
Columbia Global Value Fund | Semiannual Report 2023 | 9 |
August 31, 2023 (Unaudited)
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.
10 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $710,961,003) | $792,053,208 |
Affiliated issuers (cost $6,285,376) | 6,286,423 |
Unrealized appreciation on forward foreign currency exchange contracts | 1,925,575 |
Receivable for: | |
Investments sold | 804,561 |
Capital shares sold | 168,947 |
Dividends | 2,017,120 |
Foreign tax reclaims | 302,230 |
Trustees’ fees | 80,101 |
Prepaid expenses | 11,888 |
Other assets | 13,775 |
Total assets | 803,663,828 |
Liabilities | |
Foreign currency (cost $15,679) | 15,685 |
Unrealized depreciation on forward foreign currency exchange contracts | 2,399,592 |
Payable for: | |
Capital shares redeemed | 516,698 |
Management services fees | 15,418 |
Distribution and/or service fees | 4,604 |
Transfer agent fees | 75,799 |
Trustees’ fees | 352,291 |
Compensation of chief compliance officer | 77 |
Other expenses | 17,881 |
Total liabilities | 3,398,045 |
Net assets applicable to outstanding capital stock | $800,265,783 |
Represented by | |
Paid in capital | 756,561,301 |
Total distributable earnings (loss) | 43,704,482 |
Total - representing net assets applicable to outstanding capital stock | $800,265,783 |
Columbia Global Value Fund | Semiannual Report 2023 | 11 |
August 31, 2023 (Unaudited)
Class A | |
Net assets | $625,922,594 |
Shares outstanding | 52,795,751 |
Net asset value per share | $11.86 |
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) | $12.58 |
Advisor Class | |
Net assets | $6,006,148 |
Shares outstanding | 502,837 |
Net asset value per share | $11.94 |
Class C | |
Net assets | $8,086,170 |
Shares outstanding | 696,156 |
Net asset value per share | $11.62 |
Institutional Class | |
Net assets | $130,251,629 |
Shares outstanding | 10,954,743 |
Net asset value per share | $11.89 |
Institutional 2 Class | |
Net assets | $8,408,330 |
Shares outstanding | 709,495 |
Net asset value per share | $11.85 |
Institutional 3 Class | |
Net assets | $15,676,250 |
Shares outstanding | 1,378,007 |
Net asset value per share | $11.38 |
Class R | |
Net assets | $5,914,662 |
Shares outstanding | 500,865 |
Net asset value per share | $11.81 |
12 | Columbia Global Value Fund | Semiannual Report 2023 |
Six Months Ended August 31, 2023 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $15,309,683 |
Dividends — affiliated issuers | 167,901 |
Foreign taxes withheld | (714,636) |
Total income | 14,762,948 |
Expenses: | |
Management services fees | 2,837,797 |
Distribution and/or service fees | |
Class A | 790,020 |
Class C | 41,305 |
Class R | 15,258 |
Transfer agent fees | |
Class A | 398,979 |
Advisor Class | 3,716 |
Class C | 5,216 |
Institutional Class | 84,529 |
Institutional 2 Class | 2,596 |
Institutional 3 Class | 642 |
Class R | 3,854 |
Trustees’ fees | 30,806 |
Custodian fees | 24,999 |
Printing and postage fees | 42,412 |
Registration fees | 56,329 |
Accounting services fees | 34,085 |
Legal fees | 9,994 |
Interest on collateral | 2,903 |
Compensation of chief compliance officer | 77 |
Other | 18,373 |
Total expenses | 4,403,890 |
Net investment income | 10,359,058 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 14,817,682 |
Investments — affiliated issuers | 286 |
Foreign currency translations | (49,534) |
Forward foreign currency exchange contracts | 2,411,564 |
Option contracts written | 53,821 |
Net realized gain | 17,233,819 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 5,209,544 |
Investments — affiliated issuers | 696 |
Foreign currency translations | 32,066 |
Forward foreign currency exchange contracts | (1,549,239) |
Net change in unrealized appreciation (depreciation) | 3,693,067 |
Net realized and unrealized gain | 20,926,886 |
Net increase in net assets resulting from operations | $31,285,944 |
Columbia Global Value Fund | Semiannual Report 2023 | 13 |
Six Months Ended August 31, 2023 (Unaudited) | Year Ended February 28, 2023 | |
Operations | ||
Net investment income | $10,359,058 | $14,593,970 |
Net realized gain | 17,233,819 | 26,341,714 |
Net change in unrealized appreciation (depreciation) | 3,693,067 | (61,005,676) |
Net increase (decrease) in net assets resulting from operations | 31,285,944 | (20,069,992) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (19,652,054) | (47,053,581) |
Advisor Class | (186,869) | (508,198) |
Class C | (230,458) | (656,180) |
Institutional Class | (4,281,361) | (10,693,987) |
Institutional 2 Class | (273,363) | (4,318,013) |
Institutional 3 Class | (515,372) | (712,368) |
Class R | (182,615) | (437,067) |
Total distributions to shareholders | (25,322,092) | (64,379,394) |
Decrease in net assets from capital stock activity | (19,330,314) | (76,626,875) |
Total decrease in net assets | (13,366,462) | (161,076,261) |
Net assets at beginning of period | 813,632,245 | 974,708,506 |
Net assets at end of period | $800,265,783 | $813,632,245 |
14 | Columbia Global Value Fund | Semiannual Report 2023 |
Six Months Ended | Year Ended | |||
August 31, 2023 (Unaudited) | February 28, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 355,210 | 4,177,241 | 1,057,347 | 12,178,834 |
Distributions reinvested | 1,563,225 | 18,342,333 | 4,045,837 | 43,975,633 |
Shares redeemed | (2,982,656) | (35,109,212) | (6,294,521) | (73,402,862) |
Net decrease | (1,064,221) | (12,589,638) | (1,191,337) | (17,248,395) |
Advisor Class | ||||
Shares sold | 52,102 | 617,130 | 132,358 | 1,571,155 |
Distributions reinvested | 13,159 | 155,340 | 38,995 | 427,022 |
Shares redeemed | (60,498) | (717,499) | (248,167) | (2,879,175) |
Net increase (decrease) | 4,763 | 54,971 | (76,814) | (880,998) |
Class C | ||||
Shares sold | 8,369 | 96,641 | 45,688 | 516,066 |
Distributions reinvested | 19,857 | 229,123 | 61,736 | 654,781 |
Shares redeemed | (71,179) | (816,196) | (280,309) | (3,185,575) |
Net decrease | (42,953) | (490,432) | (172,885) | (2,014,728) |
Institutional Class | ||||
Shares sold | 451,445 | 5,339,607 | 1,003,017 | 11,724,293 |
Distributions reinvested | 330,237 | 3,881,565 | 889,213 | 9,706,409 |
Shares redeemed | (1,402,229) | (16,574,983) | (2,362,528) | (27,347,764) |
Net decrease | (620,547) | (7,353,811) | (470,298) | (5,917,062) |
Institutional 2 Class | ||||
Shares sold | 67,177 | 793,570 | 415,453 | 5,015,187 |
Distributions reinvested | 23,340 | 273,285 | 396,061 | 4,282,197 |
Shares redeemed | (145,107) | (1,712,843) | (5,646,478) | (64,232,463) |
Net decrease | (54,590) | (645,988) | (4,834,964) | (54,935,079) |
Institutional 3 Class | ||||
Shares sold | 302,473 | 3,417,490 | 681,678 | 7,597,930 |
Distributions reinvested | 45,353 | 510,360 | 67,545 | 708,542 |
Shares redeemed | (150,281) | (1,698,073) | (328,683) | (3,766,597) |
Net increase | 197,545 | 2,229,777 | 420,540 | 4,539,875 |
Class R | ||||
Shares sold | 58,207 | 682,283 | 167,223 | 1,940,562 |
Distributions reinvested | 15,607 | 182,615 | 40,371 | 437,064 |
Shares redeemed | (119,458) | (1,400,091) | (215,393) | (2,548,114) |
Net decrease | (45,644) | (535,193) | (7,799) | (170,488) |
Total net decrease | (1,625,647) | (19,330,314) | (6,333,557) | (76,626,875) |
Columbia Global Value Fund | Semiannual Report 2023 | 15 |
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 | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.77 | 0.15 | 0.31 | 0.46 | (0.11) | (0.26) | (0.37) |
Year Ended 2/28/2023 | $12.91 | 0.19 | (0.46) | (0.27) | (0.18) | (0.69) | (0.87) |
Year Ended 2/28/2022 | $12.87 | 0.21 | 1.35 | 1.56 | (0.33) | (1.19) | (1.52) |
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.89 | 2.08 | (0.20) | (0.90) | (1.10) |
Year Ended 2/29/2020 | $13.00 | 0.29 | (0.18) | 0.11 | (0.27) | (0.95) | (1.22) |
Year Ended 2/28/2019 | $14.20 | 0.22 | (0.22) | 0.00(e) | (0.17) | (1.03) | (1.20) |
Advisor Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.85 | 0.16 | 0.32 | 0.48 | (0.13) | (0.26) | (0.39) |
Year Ended 2/28/2023 | $13.00 | 0.23 | (0.48) | (0.25) | (0.21) | (0.69) | (0.90) |
Year Ended 2/28/2022 | $12.95 | 0.24 | 1.37 | 1.61 | (0.37) | (1.19) | (1.56) |
Year Ended 2/28/2021 | $11.96 | 0.20 | 1.92 | 2.12 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.07 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.26 | 0.24 | (0.20) | 0.04 | (0.20) | (1.03) | (1.23) |
Class C | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.54 | 0.10 | 0.31 | 0.41 | (0.07) | (0.26) | (0.33) |
Year Ended 2/28/2023 | $12.67 | 0.11 | (0.46) | (0.35) | (0.09) | (0.69) | (0.78) |
Year Ended 2/28/2022 | $12.66 | 0.11 | 1.32 | 1.43 | (0.23) | (1.19) | (1.42) |
Year Ended 2/28/2021 | $11.70 | 0.06 | 1.91 | 1.97 | (0.11) | (0.90) | (1.01) |
Year Ended 2/29/2020 | $12.81 | 0.19 | (0.18) | 0.01 | (0.17) | (0.95) | (1.12) |
Year Ended 2/28/2019 | $14.04 | 0.16 | (0.27) | (0.11) | (0.09) | (1.03) | (1.12) |
Institutional Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.80 | 0.16 | 0.32 | 0.48 | (0.13) | (0.26) | (0.39) |
Year Ended 2/28/2023 | $12.95 | 0.22 | (0.47) | (0.25) | (0.21) | (0.69) | (0.90) |
Year Ended 2/28/2022 | $12.90 | 0.24 | 1.37 | 1.61 | (0.37) | (1.19) | (1.56) |
Year Ended 2/28/2021 | $11.92 | 0.21 | 1.90 | 2.11 | (0.23) | (0.90) | (1.13) |
Year Ended 2/29/2020 | $13.03 | 0.32 | (0.18) | 0.14 | (0.30) | (0.95) | (1.25) |
Year Ended 2/28/2019 | $14.22 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.77 | 0.17 | 0.30 | 0.47 | (0.13) | (0.26) | (0.39) |
Year Ended 2/28/2023 | $12.91 | 0.27 | (0.50) | (0.23) | (0.22) | (0.69) | (0.91) |
Year Ended 2/28/2022 | $12.87 | 0.25 | 1.36 | 1.61 | (0.38) | (1.19) | (1.57) |
Year Ended 2/28/2021 | $11.89 | 0.19 | 1.93 | 2.12 | (0.24) | (0.90) | (1.14) |
Year Ended 2/29/2020 | $13.00 | 0.32 | (0.17) | 0.15 | (0.31) | (0.95) | (1.26) |
Year Ended 2/28/2019 | $14.19 | 0.25 | (0.21) | 0.04 | (0.20) | (1.03) | (1.23) |
16 | Columbia Global Value Fund | Semiannual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.86 | 3.98% | 1.13%(c) | 1.13%(c) | 2.52% | 35% | $625,923 |
Year Ended 2/28/2023 | $11.77 | (1.40%) | 1.13%(c) | 1.13%(c),(d) | 1.65% | 52% | $633,847 |
Year Ended 2/28/2022 | $12.91 | 12.13% | 1.11%(c) | 1.11%(c),(d) | 1.52% | 48% | $710,822 |
Year Ended 2/28/2021 | $12.87 | 18.84% | 1.15%(c) | 1.15%(c),(d) | 1.61% | 70% | $696,568 |
Year Ended 2/29/2020 | $11.89 | 0.36% | 1.13%(c) | 1.13%(c),(d) | 2.20% | 37% | $570,739 |
Year Ended 2/28/2019 | $13.00 | 0.40% | 1.15%(c) | 1.15%(c),(d) | 1.62% | 33% | $645,363 |
Advisor Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.94 | 4.08% | 0.88%(c) | 0.88%(c) | 2.77% | 35% | $6,006 |
Year Ended 2/28/2023 | $11.85 | (1.21%) | 0.88%(c) | 0.87%(c),(d) | 1.93% | 52% | $5,904 |
Year Ended 2/28/2022 | $13.00 | 12.44% | 0.83%(c) | 0.83%(c),(d) | 1.77% | 48% | $7,474 |
Year Ended 2/28/2021 | $12.95 | 19.14% | 0.90%(c) | 0.90%(c),(d) | 1.72% | 70% | $4,937 |
Year Ended 2/29/2020 | $11.96 | 0.61% | 0.88%(c) | 0.88%(c),(d) | 2.44% | 37% | $2,349 |
Year Ended 2/28/2019 | $13.07 | 0.66% | 0.90%(c) | 0.90%(c),(d) | 1.77% | 33% | $1,856 |
Class C | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.62 | 3.57% | 1.89%(c) | 1.89%(c) | 1.77% | 35% | $8,086 |
Year Ended 2/28/2023 | $11.54 | (2.13%) | 1.88%(c) | 1.87%(c),(d) | 0.92% | 52% | $8,527 |
Year Ended 2/28/2022 | $12.67 | 11.24% | 1.85%(c) | 1.85%(c),(d) | 0.82% | 48% | $11,556 |
Year Ended 2/28/2021 | $12.66 | 18.01% | 1.90%(c) | 1.90%(c),(d) | 0.54% | 70% | $14,480 |
Year Ended 2/29/2020 | $11.70 | (0.39%) | 1.89%(c) | 1.89%(c),(d) | 1.46% | 37% | $3,696 |
Year Ended 2/28/2019 | $12.81 | (0.39%) | 1.89%(c) | 1.89%(c),(d) | 1.17% | 33% | $5,573 |
Institutional Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.89 | 4.10% | 0.88%(c) | 0.88%(c) | 2.78% | 35% | $130,252 |
Year Ended 2/28/2023 | $11.80 | (1.22%) | 0.88%(c) | 0.88%(c),(d) | 1.91% | 52% | $136,608 |
Year Ended 2/28/2022 | $12.95 | 12.47% | 0.85%(c) | 0.85%(c),(d) | 1.77% | 48% | $155,962 |
Year Ended 2/28/2021 | $12.90 | 19.11% | 0.90%(c) | 0.90%(c),(d) | 1.78% | 70% | $148,950 |
Year Ended 2/29/2020 | $11.92 | 0.61% | 0.88%(c) | 0.88%(c),(d) | 2.45% | 37% | $88,301 |
Year Ended 2/28/2019 | $13.03 | 0.66% | 0.90%(c) | 0.90%(c),(d) | 1.87% | 33% | $99,972 |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.85 | 4.07% | 0.82%(c) | 0.82%(c) | 2.85% | 35% | $8,408 |
Year Ended 2/28/2023 | $11.77 | (1.06%) | 0.78%(c) | 0.78%(c) | 2.26% | 52% | $8,990 |
Year Ended 2/28/2022 | $12.91 | 12.48% | 0.79%(c) | 0.79%(c) | 1.81% | 48% | $72,299 |
Year Ended 2/28/2021 | $12.87 | 19.26% | 0.84%(c) | 0.84%(c) | 1.55% | 70% | $63,366 |
Year Ended 2/29/2020 | $11.89 | 0.68% | 0.81%(c) | 0.81%(c) | 2.48% | 37% | $1,008 |
Year Ended 2/28/2019 | $13.00 | 0.72% | 0.83%(c) | 0.83%(c) | 1.86% | 33% | $626 |
Columbia Global Value Fund | Semiannual Report 2023 | 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 | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.31 | 0.16 | 0.30 | 0.46 | (0.13) | (0.26) | (0.39) |
Year Ended 2/28/2023 | $12.45 | 0.22 | (0.44) | (0.22) | (0.23) | (0.69) | (0.92) |
Year Ended 2/28/2022 | $12.46 | 0.25 | 1.32 | 1.57 | (0.39) | (1.19) | (1.58) |
Year Ended 2/28/2021 | $11.55 | 0.19 | 1.87 | 2.06 | (0.25) | (0.90) | (1.15) |
Year Ended 2/29/2020 | $12.66 | 0.32 | (0.16) | 0.16 | (0.32) | (0.95) | (1.27) |
Year Ended 2/28/2019 | $13.85 | 0.25 | (0.20) | 0.05 | (0.21) | (1.03) | (1.24) |
Class R | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.72 | 0.13 | 0.32 | 0.45 | (0.10) | (0.26) | (0.36) |
Year Ended 2/28/2023 | $12.87 | 0.16 | (0.47) | (0.31) | (0.15) | (0.69) | (0.84) |
Year Ended 2/28/2022 | $12.83 | 0.18 | 1.35 | 1.53 | (0.30) | (1.19) | (1.49) |
Year Ended 2/28/2021 | $11.85 | 0.13 | 1.92 | 2.05 | (0.17) | (0.90) | (1.07) |
Year Ended 2/29/2020 | $12.96 | 0.26 | (0.18) | 0.08 | (0.24) | (0.95) | (1.19) |
Year Ended 2/28/2019 | $14.17 | 0.18 | (0.22) | (0.04) | (0.14) | (1.03) | (1.17) |
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%. |
(e) | Rounds to zero. |
18 | Columbia Global Value Fund | Semiannual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.38 | 4.16% | 0.77%(c) | 0.77%(c) | 2.87% | 35% | $15,676 |
Year Ended 2/28/2023 | $11.31 | (1.05%) | 0.76%(c) | 0.76%(c) | 1.94% | 52% | $13,349 |
Year Ended 2/28/2022 | $12.45 | 12.59% | 0.70%(c) | 0.70%(c) | 1.90% | 48% | $9,462 |
Year Ended 2/28/2021 | $12.46 | 19.29% | 0.78%(c) | 0.78%(c) | 1.65% | 70% | $8,071 |
Year Ended 2/29/2020 | $11.55 | 0.75% | 0.77%(c) | 0.77%(c) | 2.56% | 37% | $809 |
Year Ended 2/28/2019 | $12.66 | 0.78% | 0.78%(c) | 0.78%(c) | 1.96% | 33% | $578 |
Class R | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $11.81 | 3.86% | 1.39%(c) | 1.39%(c) | 2.29% | 35% | $5,915 |
Year Ended 2/28/2023 | $11.72 | (1.74%) | 1.38%(c) | 1.38%(c),(d) | 1.39% | 52% | $6,407 |
Year Ended 2/28/2022 | $12.87 | 11.92% | 1.32%(c) | 1.32%(c),(d) | 1.34% | 48% | $7,132 |
Year Ended 2/28/2021 | $12.83 | 18.59% | 1.40%(c) | 1.40%(c),(d) | 1.08% | 70% | $7,825 |
Year Ended 2/29/2020 | $11.85 | 0.11% | 1.38%(c) | 1.38%(c),(d) | 1.96% | 37% | $784 |
Year Ended 2/28/2019 | $12.96 | 0.14% | 1.40%(c) | 1.40%(c),(d) | 1.37% | 33% | $1,187 |
Columbia Global Value Fund | Semiannual Report 2023 | 19 |
August 31, 2023 (Unaudited)
20 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Columbia Global Value Fund | Semiannual Report 2023 | 21 |
August 31, 2023 (Unaudited)
22 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 1,925,575 |
Columbia Global Value Fund | Semiannual Report 2023 | 23 |
August 31, 2023 (Unaudited)
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 2,399,592 |
Amount of realized gain (loss) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Option contracts written ($) | Total ($) |
Equity risk | — | 53,821 | 53,821 |
Foreign exchange risk | 2,411,564 | — | 2,411,564 |
Total | 2,411,564 | 53,821 | 2,465,385 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |
Risk exposure category | Forward foreign currency exchange contracts ($) |
Foreign exchange risk | (1,549,239) |
Derivative instrument | Average value ($) |
Option contracts written | (953) |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 1,603,004 | (1,466,772) |
Morgan Stanley ($) | |
Assets | |
Forward foreign currency exchange contracts | 1,925,575 |
Liabilities | |
Forward foreign currency exchange contracts | 2,399,592 |
Total liabilities | 2,399,592 |
Total financial and derivative net assets | (474,017) |
Total collateral received (pledged) (a) | - |
Net amount (b) | (474,017) |
(a) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Represents the net amount due from/(to) counterparties in the event of default. |
24 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Columbia Global Value Fund | Semiannual Report 2023 | 25 |
August 31, 2023 (Unaudited)
26 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Effective rate (%) | |
Class A | 0.13 |
Advisor Class | 0.13 |
Class C | 0.13 |
Institutional Class | 0.13 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.13 |
Columbia Global Value Fund | Semiannual Report 2023 | 27 |
August 31, 2023 (Unaudited)
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 29,999 |
Class C | — | 1.00(b) | 45 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2023 through June 30, 2024 | Prior to July 1, 2023 | |
Class A | 1.17% | 1.15% |
Advisor Class | 0.92 | 0.90 |
Class C | 1.92 | 1.90 |
Institutional Class | 0.92 | 0.90 |
Institutional 2 Class | 0.85 | 0.84 |
Institutional 3 Class | 0.80 | 0.79 |
Class R | 1.42 | 1.40 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
717,246,000 | 129,803,000 | (49,183,000) | 80,620,000 |
28 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(6,433,790) | (45,453,991) | (51,887,781) |
Columbia Global Value Fund | Semiannual Report 2023 | 29 |
August 31, 2023 (Unaudited)
30 | Columbia Global Value Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Columbia Global Value Fund | Semiannual Report 2023 | 31 |
• | 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. |
32 | Columbia Global Value Fund | Semiannual Report 2023 |
(Unaudited)
• | 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 one or more 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 Value Fund | Semiannual Report 2023 | 33 |
(Unaudited)
In addition, the Board discussed the acceptability of the terms of the Management Agreement, noting that no changes were proposed from the form of agreement previously approved. The Board also noted the wide array of legal and compliance services provided to the Fund under the Management Agreement.
34 | Columbia Global Value Fund | Semiannual Report 2023 |
(Unaudited)
these and related factors, the Board concluded, within the context of their overall conclusions, that the costs of services provided and the profitability to the Investment Manager and its affiliates from their relationships with the Fund supported the continuation of the Management Agreement.
Columbia Global Value Fund | Semiannual Report 2023 | 35 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
August 31, 2023 (Unaudited)
(Unaudited)
Average annual total returns (%) (for the period ended August 31, 2023) | ||||||
Inception | 6 Months cumulative | 1 Year | 5 Years | Life | ||
Class A | Excluding sales charges | 03/05/18 | 4.80 | 14.57 | 3.68 | 2.60 |
Including sales charges | -1.21 | 8.02 | 2.45 | 1.50 | ||
Advisor Class | 03/05/18 | 5.03 | 14.93 | 3.95 | 2.87 | |
Class C | Excluding sales charges | 03/05/18 | 4.43 | 13.75 | 2.89 | 1.83 |
Including sales charges | 3.43 | 12.75 | 2.89 | 1.83 | ||
Institutional Class | 03/05/18 | 4.92 | 14.80 | 3.95 | 2.86 | |
Institutional 2 Class | 03/05/18 | 4.98 | 14.97 | 4.03 | 2.96 | |
Institutional 3 Class | 03/05/18 | 5.02 | 15.03 | 4.09 | 3.01 | |
Class R | 03/05/18 | 4.67 | 14.32 | 3.43 | 2.35 | |
MSCI EAFE Index (Net) | 4.75 | 17.92 | 4.14 | 3.64 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 3 |
(Unaudited)
Equity sector breakdown (%) (at August 31, 2023) | |
Communication Services | 3.5 |
Consumer Discretionary | 10.5 |
Consumer Staples | 13.3 |
Energy | 10.3 |
Financials | 17.6 |
Health Care | 15.1 |
Industrials | 11.3 |
Information Technology | 11.9 |
Materials | 5.7 |
Utilities | 0.8 |
Total | 100.0 |
Country breakdown (%) (at August 31, 2023) | |
Australia | 4.4 |
Austria | 0.6 |
Brazil | 0.4 |
Canada | 4.9 |
Denmark | 1.8 |
Finland | 1.6 |
France | 6.1 |
Germany | 2.0 |
Greece | 0.6 |
Hong Kong | 0.4 |
Ireland | 2.3 |
Israel | 3.2 |
Japan | 22.8 |
Netherlands | 11.5 |
Norway | 1.4 |
Russian Federation | 0.0(a) |
Singapore | 2.6 |
South Africa | 0.2 |
South Korea | 2.4 |
Sweden | 0.2 |
Switzerland | 3.6 |
Taiwan | 3.2 |
United Kingdom | 13.4 |
United States(b) | 10.4 |
Total | 100.0 |
(a) | Rounds to zero. |
(b) | Includes investments in Money Market Funds. |
4 | Columbia Overseas Core Fund | Semiannual Report 2023 |
(Unaudited)
March 1, 2023 — August 31, 2023 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,048.00 | 1,019.00 | 6.28 | 6.19 | 1.22 |
Advisor Class | 1,000.00 | 1,000.00 | 1,050.30 | 1,020.26 | 5.00 | 4.93 | 0.97 |
Class C | 1,000.00 | 1,000.00 | 1,044.30 | 1,015.23 | 10.12 | 9.98 | 1.97 |
Institutional Class | 1,000.00 | 1,000.00 | 1,049.20 | 1,020.26 | 5.00 | 4.93 | 0.97 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,049.80 | 1,020.61 | 4.64 | 4.57 | 0.90 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,050.20 | 1,020.91 | 4.33 | 4.27 | 0.84 |
Class R | 1,000.00 | 1,000.00 | 1,046.70 | 1,017.75 | 7.56 | 7.46 | 1.47 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 5 |
August 31, 2023 (Unaudited)
Common Stocks 98.8% | ||
Issuer | Shares | Value ($) |
Australia 4.4% | ||
Ansell Ltd. | 368,914 | 5,622,211 |
Northern Star Resources Ltd. | 1,856,473 | 14,224,567 |
Paladin Energy Ltd.(a) | 9,517,824 | 5,171,024 |
Santos Ltd. | 2,575,066 | 12,741,522 |
Total | 37,759,324 | |
Austria 0.6% | ||
Kontron AG | 236,577 | 5,149,631 |
Brazil 0.4% | ||
JBS S/A | 890,404 | 3,329,991 |
Canada 4.9% | ||
Alimentation Couche-Tard, Inc. | 106,168 | 5,551,977 |
Cameco Corp. | 381,634 | 14,120,458 |
Pan American Silver Corp. | 279,952 | 4,633,206 |
Vermilion Energy, Inc. | 321,798 | 4,682,161 |
Whitecap Resources, Inc. | 1,608,319 | 13,152,697 |
Total | 42,140,499 | |
Denmark 1.8% | ||
Novo Nordisk A/S, Class B | 82,527 | 15,222,414 |
Finland 1.6% | ||
UPM-Kymmene OYJ | 410,667 | 14,054,064 |
France 6.1% | ||
AXA SA | 214,486 | 6,444,207 |
DBV Technologies SA, ADR(a) | 158,287 | 250,093 |
Eiffage SA | 153,616 | 15,182,337 |
Sanofi | 201,617 | 21,473,011 |
TotalEnergies SE | 132,251 | 8,295,958 |
Worldline SA(a) | 48,128 | 1,566,383 |
Total | 53,211,989 | |
Germany 2.0% | ||
Duerr AG | 163,830 | 4,883,513 |
E.ON SE | 592,861 | 7,297,920 |
KION Group AG | 127,328 | 5,083,089 |
Total | 17,264,522 | |
Greece 0.6% | ||
JUMBO SA | 177,151 | 5,478,512 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Hong Kong 0.4% | ||
WH Group Ltd. | 6,472,402 | 3,333,256 |
Ireland 2.3% | ||
Amarin Corp. PLC, ADR(a) | 107,069 | 112,423 |
Bank of Ireland Group PLC | 558,658 | 5,562,985 |
Flutter Entertainment PLC(a) | 78,965 | 14,361,009 |
Total | 20,036,417 | |
Israel 3.2% | ||
Bank Hapoalim BM | 1,124,011 | 9,305,853 |
Check Point Software Technologies Ltd.(a) | 138,788 | 18,679,477 |
Total | 27,985,330 | |
Japan 22.8% | ||
Amano Corp. | 298,900 | 6,515,359 |
BayCurrent Consulting, Inc. | 260,100 | 8,940,332 |
Denso Corp. | 89,700 | 6,122,262 |
Hitachi Ltd. | 87,200 | 5,795,507 |
ITOCHU Corp. | 477,000 | 17,901,498 |
JustSystems Corp. | 104,800 | 2,168,346 |
Kinden Corp. | 318,600 | 4,378,569 |
Macnica Fuji Electronics Holdings, Inc. | 211,400 | 9,891,104 |
MatsukiyoCocokara & Co. | 262,900 | 15,479,676 |
Mebuki Financial Group, Inc. | 1,870,900 | 5,171,933 |
Meitec Corp. | 157,500 | 2,757,247 |
Mitsubishi UFJ Financial Group, Inc. | 1,850,800 | 14,765,091 |
Nihon M&A Center Holdings, Inc. | 376,000 | 2,088,614 |
ORIX Corp. | 664,000 | 12,380,067 |
Otsuka Corp. | 104,200 | 4,643,984 |
Round One Corp. | 1,852,600 | 7,543,489 |
Sankyo Co., Ltd. | 59,900 | 2,608,510 |
Shimamura Co., Ltd. | 79,100 | 8,153,141 |
Ship Healthcare Holdings, Inc. | 489,900 | 8,312,033 |
Suntory Beverage & Food Ltd. | 221,400 | 7,123,419 |
Takeda Pharmaceutical Co., Ltd. | 601,377 | 18,585,598 |
Takuma Co., Ltd. | 351,400 | 3,889,088 |
Toppan Printing Co., Ltd. | 531,000 | 12,826,797 |
USS Co., Ltd. | 479,900 | 8,380,115 |
6 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
ValueCommerce Co., Ltd. | 130,700 | 1,152,228 |
Total | 197,574,007 | |
Netherlands 11.5% | ||
Adyen NV(a) | 3,292 | 2,748,890 |
ASR Nederland NV | 370,246 | 16,188,852 |
Heineken NV | 122,036 | 11,863,173 |
ING Groep NV | 1,214,438 | 17,207,377 |
Koninklijke Ahold Delhaize NV | 498,509 | 16,306,226 |
Prosus NV(a) | 205,162 | 14,150,924 |
Shell PLC | 683,183 | 20,888,509 |
Total | 99,353,951 | |
Norway 1.4% | ||
SalMar ASA | 128,764 | 6,286,168 |
Yara International ASA | 167,506 | 6,105,485 |
Total | 12,391,653 | |
Russian Federation —% | ||
Lukoil PJSC(b),(c),(d),(e) | 33,398 | — |
Singapore 2.6% | ||
BW LPG Ltd. | 219,592 | 2,660,438 |
DBS Group Holdings Ltd. | 411,700 | 10,133,437 |
Venture Corp., Ltd. | 967,400 | 9,376,580 |
Total | 22,170,455 | |
South Africa 0.2% | ||
Impala Platinum Holdings Ltd. | 346,207 | 1,782,318 |
South Korea 2.4% | ||
Hyundai Home Shopping Network Corp. | 62,773 | 2,070,892 |
Samsung Electronics Co., Ltd. | 224,403 | 11,349,462 |
Youngone Corp. | 192,797 | 7,824,794 |
Total | 21,245,148 | |
Sweden 0.2% | ||
Stillfront Group AB(a) | 1,073,652 | 1,763,781 |
Switzerland 3.6% | ||
Landis+Gyr Group AG(a) | 86,686 | 6,406,055 |
Nestlé SA, Registered Shares | 74,802 | 8,994,149 |
Novartis AG, Registered Shares | 46,454 | 4,675,213 |
UBS AG | 425,538 | 11,271,098 |
Total | 31,346,515 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Taiwan 3.2% | ||
Fubon Financial Holding Co., Ltd. | 6,066,425 | 12,097,440 |
Parade Technologies Ltd. | 427,000 | 11,988,246 |
Taiwan Semiconductor Manufacturing Co., Ltd., ADR | 37,948 | 3,550,795 |
Total | 27,636,481 | |
United Kingdom 13.4% | ||
AstraZeneca PLC, ADR | 406,313 | 27,556,148 |
British American Tobacco PLC | 529,994 | 17,555,726 |
Crest Nicholson Holdings PLC | 789,056 | 1,804,235 |
DCC PLC | 232,382 | 12,715,277 |
Intermediate Capital Group PLC | 238,579 | 4,077,219 |
JD Sports Fashion PLC | 6,004,851 | 11,021,901 |
John Wood Group PLC(a) | 775,838 | 1,566,276 |
Just Group PLC | 3,294,442 | 3,146,743 |
Liberty Global PLC, Class C(a) | 665,115 | 13,195,882 |
TP Icap Group PLC | 4,163,229 | 8,712,612 |
Vodafone Group PLC | 15,460,896 | 14,333,091 |
Total | 115,685,110 | |
United States 9.2% | ||
ACADIA Pharmaceuticals, Inc.(a) | 25,382 | 685,822 |
Broadcom, Inc. | 12,882 | 11,888,669 |
Burford Capital Ltd. | 728,117 | 10,026,171 |
Energy Fuels, Inc.(a) | 662,884 | 4,726,363 |
Insmed, Inc.(a) | 88,299 | 1,932,865 |
Jazz Pharmaceuticals PLC(a) | 91,030 | 13,050,061 |
Livent Corp.(a) | 383,376 | 8,231,083 |
Primo Water Corp. | 1,155,586 | 17,634,242 |
Roche Holding AG, Genusschein Shares | 37,780 | 11,087,992 |
Sage Therapeutics, Inc.(a) | 30,588 | 611,760 |
Total | 79,875,028 | |
Total Common Stocks (Cost $805,344,676) | 855,790,396 | |
Exchange-Traded Equity Funds 0.6% | ||
Shares | Value ($) | |
United States 0.6% | ||
iShares MSCI EAFE ETF | 73,564 | 5,262,033 |
Total Exchange-Traded Equity Funds (Cost $5,265,261) | 5,262,033 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 7 |
August 31, 2023 (Unaudited)
Call Option Contracts Purchased 0.0% | |||||
Value ($) | |||||
(Cost $263,456) | 87,615 |
Money Market Funds 0.6% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.476%(f),(g) | 4,843,573 | 4,842,120 |
Total Money Market Funds (Cost $4,841,350) | 4,842,120 | |
Total Investments in Securities (Cost $815,714,743) | 865,982,164 | |
Other Assets & Liabilities, Net | (244,261) | |
Net Assets | $865,737,903 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
2,695,000 AUD | 1,767,288 USD | Morgan Stanley | 09/21/2023 | 20,028 | — |
3,951,000 AUD | 2,557,838 USD | Morgan Stanley | 09/21/2023 | — | (3,727) |
36,231,000 CAD | 27,511,849 USD | Morgan Stanley | 09/21/2023 | 691,340 | — |
7,031,000 EUR | 7,649,917 USD | Morgan Stanley | 09/21/2023 | 19,965 | — |
1,356,000 GBP | 1,730,697 USD | Morgan Stanley | 09/21/2023 | 12,786 | — |
1,505,274,000 JPY | 10,575,167 USD | Morgan Stanley | 09/21/2023 | 202,712 | — |
502,141,000 JPY | 3,459,416 USD | Morgan Stanley | 09/21/2023 | — | (708) |
29,263,472,000 KRW | 22,951,707 USD | Morgan Stanley | 09/21/2023 | 823,167 | — |
159,854,000 NOK | 15,840,096 USD | Morgan Stanley | 09/21/2023 | 796,877 | — |
21,083,000 SGD | 15,904,496 USD | Morgan Stanley | 09/21/2023 | 292,933 | — |
1,428,827,000 TWD | 45,833,491 USD | Morgan Stanley | 09/21/2023 | 948,255 | — |
15,991,038 USD | 23,556,000 AUD | Morgan Stanley | 09/21/2023 | — | (718,882) |
15,032,278 USD | 12,877,000 CHF | Morgan Stanley | 09/21/2023 | — | (429,475) |
11,440,589 USD | 76,841,000 DKK | Morgan Stanley | 09/21/2023 | — | (250,198) |
77,874,817 USD | 70,122,000 EUR | Morgan Stanley | 09/21/2023 | — | (1,779,311) |
15,071,661 USD | 11,643,000 GBP | Morgan Stanley | 09/21/2023 | — | (321,191) |
2,640,251 USD | 27,087,000 NOK | Morgan Stanley | 09/21/2023 | — | (91,203) |
15,135,048 USD | 24,226,000 NZD | Morgan Stanley | 09/21/2023 | — | (688,568) |
29,398,141 USD | 304,604,000 SEK | Morgan Stanley | 09/21/2023 | — | (1,554,652) |
5,103,839 USD | 6,897,000 SGD | Morgan Stanley | 09/21/2023 | 3,259 | — |
5,308,545 USD | 7,107,000 SGD | Morgan Stanley | 09/21/2023 | — | (45,946) |
5,943,086 USD | 188,901,000 TWD | Morgan Stanley | 09/21/2023 | — | (8,942) |
Total | 3,811,322 | (5,892,803) |
Call option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
CBOE Volatility Index | Morgan Stanley | USD | 806,058 | 594 | 14.00 | 09/20/2023 | 263,456 | 87,615 |
8 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At August 31, 2023, the total value of these securities amounted to $0, which represents less than 0.01% of total net assets. |
(c) | 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 approved by the Fund’s Board of Trustees. At August 31, 2023, the total market value of these securities amounted to $0, which represents less than 0.01% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Lukoil PJSC | 01/25/2022- 02/02/2022 | 33,398 | 2,752,771 | — |
(d) | As a result of sanctions and restricted cross-border payments, certain income and/or principal has not been recognized by the Fund. The Fund will continue to monitor the net realizable value and record the income when it is considered collectible. |
(e) | Valuation based on significant unobservable inputs. |
(f) | The rate shown is the seven-day current annualized yield at August 31, 2023. |
(g) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended August 31, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.476% | ||||||||
2,640,181 | 93,254,206 | (91,053,028) | 761 | 4,842,120 | (1,367) | 126,400 | 4,843,573 |
ADR | American Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
JPY | Japanese Yen |
KRW | South Korean Won |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
TWD | New Taiwan Dollar |
USD | US Dollar |
Columbia Overseas Core Fund | Semiannual Report 2023 | 9 |
August 31, 2023 (Unaudited)
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 | ||||
Common Stocks | ||||
Australia | — | 37,759,324 | — | 37,759,324 |
Austria | — | 5,149,631 | — | 5,149,631 |
Brazil | 3,329,991 | — | — | 3,329,991 |
Canada | 42,140,499 | — | — | 42,140,499 |
Denmark | — | 15,222,414 | — | 15,222,414 |
Finland | — | 14,054,064 | — | 14,054,064 |
France | 250,093 | 52,961,896 | — | 53,211,989 |
Germany | — | 17,264,522 | — | 17,264,522 |
Greece | — | 5,478,512 | — | 5,478,512 |
Hong Kong | — | 3,333,256 | — | 3,333,256 |
Ireland | 112,423 | 19,923,994 | — | 20,036,417 |
Israel | 18,679,477 | 9,305,853 | — | 27,985,330 |
Japan | — | 197,574,007 | — | 197,574,007 |
Netherlands | — | 99,353,951 | — | 99,353,951 |
Norway | — | 12,391,653 | — | 12,391,653 |
Russian Federation | — | — | 0* | 0* |
Singapore | — | 22,170,455 | — | 22,170,455 |
South Africa | — | 1,782,318 | — | 1,782,318 |
South Korea | — | 21,245,148 | — | 21,245,148 |
Sweden | — | 1,763,781 | — | 1,763,781 |
Switzerland | — | 31,346,515 | — | 31,346,515 |
Taiwan | 3,550,795 | 24,085,686 | — | 27,636,481 |
10 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
United Kingdom | 40,752,030 | 74,933,080 | — | 115,685,110 |
United States | 68,787,036 | 11,087,992 | — | 79,875,028 |
Total Common Stocks | 177,602,344 | 678,188,052 | 0* | 855,790,396 |
Exchange-Traded Equity Funds | 5,262,033 | — | — | 5,262,033 |
Call Option Contracts Purchased | 87,615 | — | — | 87,615 |
Money Market Funds | 4,842,120 | — | — | 4,842,120 |
Total Investments in Securities | 187,794,112 | 678,188,052 | 0* | 865,982,164 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 3,811,322 | — | 3,811,322 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (5,892,803) | — | (5,892,803) |
Total | 187,794,112 | 676,106,571 | 0* | 863,900,683 |
* | Rounds to zero. |
Columbia Overseas Core Fund | Semiannual Report 2023 | 11 |
August 31, 2023 (Unaudited)
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $810,609,937) | $861,052,429 |
Affiliated issuers (cost $4,841,350) | 4,842,120 |
Option contracts purchased (cost $263,456) | 87,615 |
Unrealized appreciation on forward foreign currency exchange contracts | 3,811,322 |
Receivable for: | |
Investments sold | 8,819,767 |
Capital shares sold | 97,159 |
Dividends | 1,694,587 |
Foreign tax reclaims | 1,590,056 |
Expense reimbursement due from Investment Manager | 1,797 |
Prepaid expenses | 11,654 |
Total assets | 882,008,506 |
Liabilities | |
Foreign currency (cost $1,189) | 1,194 |
Unrealized depreciation on forward foreign currency exchange contracts | 5,892,803 |
Payable for: | |
Investments purchased | 9,784,612 |
Capital shares redeemed | 393,447 |
Foreign capital gains taxes deferred | 881 |
Management services fees | 20,053 |
Distribution and/or service fees | 364 |
Transfer agent fees | 49,949 |
Trustees’ fees | 90,690 |
Compensation of chief compliance officer | 83 |
Other expenses | 36,527 |
Total liabilities | 16,270,603 |
Net assets applicable to outstanding capital stock | $865,737,903 |
Represented by | |
Paid in capital | 879,528,244 |
Total distributable earnings (loss) | (13,790,341) |
Total - representing net assets applicable to outstanding capital stock | $865,737,903 |
12 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Class A | |
Net assets | $47,624,699 |
Shares outstanding | 4,925,233 |
Net asset value per share | $9.67 |
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) | $10.26 |
Advisor Class | |
Net assets | $427,390 |
Shares outstanding | 44,126 |
Net asset value per share | $9.69 |
Class C | |
Net assets | $1,321,660 |
Shares outstanding | 137,659 |
Net asset value per share | $9.60 |
Institutional Class | |
Net assets | $285,711,470 |
Shares outstanding | 29,477,649 |
Net asset value per share | $9.69 |
Institutional 2 Class | |
Net assets | $752,360 |
Shares outstanding | 77,515 |
Net asset value per share | $9.71 |
Institutional 3 Class | |
Net assets | $529,897,283 |
Shares outstanding | 54,573,475 |
Net asset value per share | $9.71 |
Class R | |
Net assets | $3,041 |
Shares outstanding | 315 |
Net asset value per share(a) | $9.66 |
(a) | Net asset value per share rounds to this amount due to fractional shares outstanding. |
Columbia Overseas Core Fund | Semiannual Report 2023 | 13 |
Six Months Ended August 31, 2023 (Unaudited)
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $19,426,957 |
Dividends — affiliated issuers | 126,400 |
Foreign taxes withheld | (1,760,296) |
Total income | 17,793,061 |
Expenses: | |
Management services fees | 3,654,486 |
Distribution and/or service fees | |
Class A | 60,318 |
Class C | 7,104 |
Class R | 7 |
Transfer agent fees | |
Class A | 35,292 |
Advisor Class | 241 |
Class C | 1,040 |
Institutional Class | 208,579 |
Institutional 2 Class | 258 |
Institutional 3 Class | 14,706 |
Class R | 2 |
Trustees’ fees | 20,213 |
Custodian fees | 78,112 |
Printing and postage fees | 12,498 |
Registration fees | 57,744 |
Accounting services fees | 43,353 |
Legal fees | 10,307 |
Interest on collateral | 11,646 |
Compensation of chief compliance officer | 83 |
Other | 21,100 |
Total expenses | 4,237,089 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (311,114) |
Total net expenses | 3,925,975 |
Net investment income | 13,867,086 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 3,102,431 |
Investments — affiliated issuers | (1,367) |
Foreign currency translations | (187,674) |
Forward foreign currency exchange contracts | 5,569,423 |
Option contracts purchased | (53,123) |
Option contracts written | 84,930 |
Net realized gain | 8,514,620 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 21,905,796 |
Investments — affiliated issuers | 761 |
Foreign currency translations | 118,030 |
Forward foreign currency exchange contracts | (2,356,432) |
Option contracts purchased | (175,841) |
Net change in unrealized appreciation (depreciation) | 19,492,314 |
Net realized and unrealized gain | 28,006,934 |
Net increase in net assets resulting from operations | $41,874,020 |
14 | Columbia Overseas Core Fund | Semiannual Report 2023 |
Six Months Ended August 31, 2023 (Unaudited) | Year Ended February 28, 2023 | |
Operations | ||
Net investment income | $13,867,086 | $19,491,358 |
Net realized gain (loss) | 8,514,620 | (70,676,248) |
Net change in unrealized appreciation (depreciation) | 19,492,314 | (30,171,454) |
Net increase (decrease) in net assets resulting from operations | 41,874,020 | (81,356,344) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (783,896) | (711,103) |
Advisor Class | (7,852) | (3,199) |
Class C | (13,123) | (30,685) |
Institutional Class | (5,353,015) | (4,867,701) |
Institutional 2 Class | (14,214) | (6,050) |
Institutional 3 Class | (10,397,133) | (8,588,232) |
Class R | (43) | (42) |
Total distributions to shareholders | (16,569,276) | (14,207,012) |
Decrease in net assets from capital stock activity | (17,877,161) | (46,696,535) |
Total increase (decrease) in net assets | 7,427,583 | (142,259,891) |
Net assets at beginning of period | 858,310,320 | 1,000,570,211 |
Net assets at end of period | $865,737,903 | $858,310,320 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 15 |
Six Months Ended | Year Ended | |||
August 31, 2023 (Unaudited) | February 28, 2023 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Shares sold | 151,246 | 1,460,827 | 417,180 | 3,782,989 |
Distributions reinvested | 80,439 | 770,602 | 81,687 | 697,607 |
Shares redeemed | (344,098) | (3,302,506) | (908,262) | (8,071,441) |
Net decrease | (112,413) | (1,071,077) | (409,395) | (3,590,845) |
Advisor Class | ||||
Shares sold | 25,973 | 252,024 | 286 | 2,538 |
Distributions reinvested | 779 | 7,473 | 341 | 2,921 |
Shares redeemed | (2,727) | (26,836) | (6,164) | (52,080) |
Net increase (decrease) | 24,025 | 232,661 | (5,537) | (46,621) |
Class C | ||||
Shares sold | 7,745 | 73,162 | 14,576 | 132,658 |
Distributions reinvested | 1,359 | 12,934 | 3,401 | 28,907 |
Shares redeemed | (32,373) | (309,413) | (118,762) | (1,041,494) |
Net decrease | (23,269) | (223,317) | (100,785) | (879,929) |
Institutional Class | ||||
Shares sold | 2,141,437 | 20,729,713 | 15,681,407 | 153,782,615 |
Distributions reinvested | 557,396 | 5,351,002 | 568,340 | 4,864,990 |
Shares redeemed | (3,681,700) | (35,265,110) | (12,654,681) | (112,948,653) |
Net increase (decrease) | (982,867) | (9,184,395) | 3,595,066 | 45,698,952 |
Institutional 2 Class | ||||
Shares sold | 526 | 5,066 | 70,546 | 639,595 |
Distributions reinvested | 1,206 | 11,593 | 701 | 6,009 |
Shares redeemed | (14,377) | (142,502) | (25,357) | (225,576) |
Net increase (decrease) | (12,645) | (125,843) | 45,890 | 420,028 |
Institutional 3 Class | ||||
Shares sold | 816,436 | 7,938,022 | 892,497 | 8,278,860 |
Distributions reinvested | 1,081,901 | 10,397,072 | 1,002,123 | 8,588,191 |
Shares redeemed | (2,652,745) | (25,840,284) | (11,594,370) | (105,165,171) |
Net decrease | (754,408) | (7,505,190) | (9,699,750) | (88,298,120) |
Total net decrease | (1,861,577) | (17,877,161) | (6,574,511) | (46,696,535) |
16 | Columbia Overseas Core Fund | Semiannual Report 2023 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.38 | 0.14 | 0.31 | 0.45 | (0.16) | — | (0.16) |
Year Ended 2/28/2023 | $10.23 | 0.16 | (0.88) | (0.72) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.17 | 0.02(f) | 0.19 | (0.27) | (0.58) | (0.85) |
Year Ended 2/28/2021 | $8.99 | 0.06 | 2.06 | 2.12 | (0.05) | (0.17) | (0.22) |
Year Ended 2/29/2020 | $9.36 | 0.09 | (0.11) | (0.02) | (0.31) | (0.04) | (0.35) |
Year Ended 2/28/2019(g) | $10.00 | 0.25 | (0.81) | (0.56) | (0.08) | — | (0.08) |
Advisor Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.40 | 0.14 | 0.33 | 0.47 | (0.18) | — | (0.18) |
Year Ended 2/28/2023 | $10.23 | 0.19 | (0.89) | (0.70) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.21 | 0.01(f) | 0.22 | (0.30) | (0.58) | (0.88) |
Year Ended 2/28/2021 | $8.99 | 0.09 | 2.05 | 2.14 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.19) | 0.00 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(g) | $10.00 | 0.28 | (0.81) | (0.53) | (0.10) | — | (0.10) |
Class C | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.28 | 0.10 | 0.31 | 0.41 | (0.09) | — | (0.09) |
Year Ended 2/28/2023 | $10.20 | 0.10 | (0.89) | (0.79) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.86 | 0.09 | 0.02(f) | 0.11 | (0.19) | (0.58) | (0.77) |
Year Ended 2/28/2021 | $9.00 | (0.01) | 2.04 | 2.03 | — | (0.17) | (0.17) |
Year Ended 2/29/2020 | $9.36 | 0.06 | (0.15) | (0.09) | (0.23) | (0.04) | (0.27) |
Year Ended 2/28/2019(g) | $10.00 | 0.18 | (0.80) | (0.62) | (0.02) | — | (0.02) |
Institutional Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.41 | 0.15 | 0.31 | 0.46 | (0.18) | — | (0.18) |
Year Ended 2/28/2023 | $10.24 | 0.19 | (0.89) | (0.70) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.89 | 0.19 | 0.04(f) | 0.23 | (0.30) | (0.58) | (0.88) |
Year Ended 2/28/2021 | $9.00 | 0.13 | 2.00 | 2.13 | (0.07) | (0.17) | (0.24) |
Year Ended 2/29/2020 | $9.37 | 0.19 | (0.18) | 0.01 | (0.34) | (0.04) | (0.38) |
Year Ended 2/28/2019(g) | $10.00 | 0.38 | (0.91) | (0.53) | (0.10) | — | (0.10) |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.43 | 0.16 | 0.31 | 0.47 | (0.19) | — | (0.19) |
Year Ended 2/28/2023 | $10.25 | 0.16 | (0.85) | (0.69) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.90 | 0.20 | 0.04(f) | 0.24 | (0.31) | (0.58) | (0.89) |
Year Ended 2/28/2021 | $9.00 | 0.10 | 2.05 | 2.15 | (0.08) | (0.17) | (0.25) |
Year Ended 2/29/2020 | $9.38 | 0.19 | (0.18) | 0.01 | (0.35) | (0.04) | (0.39) |
Year Ended 2/28/2019(g) | $10.00 | 0.28 | (0.81) | (0.53) | (0.09) | — | (0.09) |
18 | Columbia Overseas Core Fund | Semiannual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Class A | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.67 | 4.80% | 1.30%(c) | 1.22%(c) | 2.90% | 21% | $47,625 |
Year Ended 2/28/2023 | $9.38 | (6.89%) | 1.28%(c),(d) | 1.22%(c),(d),(e) | 1.74% | 60% | $47,250 |
Year Ended 2/28/2022 | $10.23 | 1.38% | 1.27%(c),(d) | 1.22%(c),(d),(e) | 1.47% | 43% | $55,723 |
Year Ended 2/28/2021 | $10.89 | 23.80% | 1.33%(c),(d) | 1.24%(c),(d),(e) | 0.59% | 39% | $57,243 |
Year Ended 2/29/2020 | $8.99 | (0.46%) | 1.40% | 1.26% | 0.94% | 48% | $431 |
Year Ended 2/28/2019(g) | $9.36 | (5.55%) | 1.65%(d) | 1.28%(d) | 2.64% | 71% | $30 |
Advisor Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.69 | 5.03% | 1.06%(c) | 0.97%(c) | 2.92% | 21% | $427 |
Year Ended 2/28/2023 | $9.40 | (6.69%) | 1.03%(c),(d) | 0.97%(c),(d),(e) | 2.05% | 60% | $189 |
Year Ended 2/28/2022 | $10.23 | 1.64% | 1.02%(c),(d) | 0.97%(c),(d),(e) | 1.83% | 43% | $262 |
Year Ended 2/28/2021 | $10.89 | 24.07% | 1.08%(c),(d) | 0.99%(c),(d),(e) | 0.91% | 39% | $368 |
Year Ended 2/29/2020 | $8.99 | (0.30%) | 1.15% | 1.01% | 1.98% | 48% | $19 |
Year Ended 2/28/2019(g) | $9.37 | (5.22%) | 1.40%(d) | 1.03%(d) | 2.95% | 71% | $20 |
Class C | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.60 | 4.43% | 2.05%(c) | 1.97%(c) | 2.19% | 21% | $1,322 |
Year Ended 2/28/2023 | $9.28 | (7.60%) | 2.03%(c),(d) | 1.97%(c),(d),(e) | 1.13% | 60% | $1,494 |
Year Ended 2/28/2022 | $10.20 | 0.60% | 2.02%(c),(d) | 1.97%(c),(d),(e) | 0.82% | 43% | $2,670 |
Year Ended 2/28/2021 | $10.86 | 22.80% | 2.07%(c),(d) | 1.99%(c),(d),(e) | (0.14%) | 39% | $3,863 |
Year Ended 2/29/2020 | $9.00 | (1.17%) | 2.15% | 2.01% | 0.63% | 48% | $49 |
Year Ended 2/28/2019(g) | $9.36 | (6.22%) | 2.40%(d) | 2.03%(d) | 1.89% | 71% | $25 |
Institutional Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.69 | 4.92% | 1.05%(c) | 0.97%(c) | 3.13% | 21% | $285,711 |
Year Ended 2/28/2023 | $9.41 | (6.68%) | 1.03%(c),(d) | 0.97%(c),(d),(e) | 2.05% | 60% | $286,669 |
Year Ended 2/28/2022 | $10.24 | 1.73% | 1.02%(c),(d) | 0.97%(c),(d),(e) | 1.68% | 43% | $275,013 |
Year Ended 2/28/2021 | $10.89 | 23.93% | 1.10%(c),(d) | 1.00%(c),(d),(e) | 1.40% | 39% | $215,765 |
Year Ended 2/29/2020 | $9.00 | (0.19%) | 1.15% | 1.02% | 1.98% | 48% | $131,881 |
Year Ended 2/28/2019(g) | $9.37 | (5.22%) | 1.37%(d) | 1.03%(d) | 4.47% | 71% | $120,114 |
Institutional 2 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.71 | 4.98% | 0.97%(c) | 0.90%(c) | 3.27% | 21% | $752 |
Year Ended 2/28/2023 | $9.43 | (6.58%) | 0.97%(c),(d) | 0.90%(c),(d) | 1.78% | 60% | $850 |
Year Ended 2/28/2022 | $10.25 | 1.81% | 0.95%(c),(d) | 0.90%(c),(d) | 1.77% | 43% | $454 |
Year Ended 2/28/2021 | $10.90 | 24.16% | 0.99%(c),(d) | 0.90%(c),(d) | 1.02% | 39% | $439 |
Year Ended 2/29/2020 | $9.00 | (0.18%) | 1.04% | 0.91% | 1.99% | 48% | $47 |
Year Ended 2/28/2019(g) | $9.38 | (5.17%) | 1.25%(d) | 0.93%(d) | 3.02% | 71% | $29 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 19 |
Net asset value, beginning of period | Net investment income (loss) | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.43 | 0.16 | 0.31 | 0.47 | (0.19) | — | (0.19) |
Year Ended 2/28/2023 | $10.25 | 0.19 | (0.88) | (0.69) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.91 | 0.21 | 0.03(f) | 0.24 | (0.32) | (0.58) | (0.90) |
Year Ended 2/28/2021 | $9.00 | 0.12 | 2.05 | 2.17 | (0.09) | (0.17) | (0.26) |
Year Ended 2/29/2020 | $9.38 | 0.21 | (0.19) | 0.02 | (0.36) | (0.04) | (0.40) |
Year Ended 2/28/2019(g) | $10.00 | 0.29 | (0.81) | (0.52) | (0.10) | — | (0.10) |
Class R | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.36 | 0.13 | 0.31 | 0.44 | (0.14) | — | (0.14) |
Year Ended 2/28/2023 | $10.23 | 0.13 | (0.87) | (0.74) | — | (0.13) | (0.13) |
Year Ended 2/28/2022 | $10.88 | 0.15 | 0.02(f) | 0.17 | (0.24) | (0.58) | (0.82) |
Year Ended 2/28/2021 | $8.99 | 0.20 | 1.88 | 2.08 | (0.02) | (0.17) | (0.19) |
Year Ended 2/29/2020 | $9.36 | 0.18 | (0.22) | (0.04) | (0.29) | (0.04) | (0.33) |
Year Ended 2/28/2019(g) | $10.00 | 0.26 | (0.84) | (0.58) | (0.06) | — | (0.06) |
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) | Ratios include interfund lending expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | 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 timing of Fund shares sold and redeemed in relation to fluctuations in the market value of the portfolio. |
(g) | The Fund commenced operations on March 5, 2018. Per share data and total return reflect activity from that date. |
20 | Columbia Overseas Core Fund | Semiannual Report 2023 |
Net asset value, end of period | Total return | Total gross expense ratio to average net assets(a) | Total net expense ratio to average net assets(a),(b) | Net investment income (loss) ratio to average net assets | Portfolio turnover | Net assets, end of period (000’s) | |
Institutional 3 Class | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.71 | 5.02% | 0.91%(c) | 0.84%(c) | 3.28% | 21% | $529,897 |
Year Ended 2/28/2023 | $9.43 | (6.58%) | 0.90%(c),(d) | 0.85%(c),(d) | 2.13% | 60% | $521,856 |
Year Ended 2/28/2022 | $10.25 | 1.78% | 0.89%(c),(d) | 0.84%(c),(d) | 1.85% | 43% | $666,445 |
Year Ended 2/28/2021 | $10.91 | 24.34% | 0.94%(c),(d) | 0.84%(c),(d) | 1.21% | 39% | $555,487 |
Year Ended 2/29/2020 | $9.00 | (0.11%) | 0.97% | 0.85% | 2.18% | 48% | $119,513 |
Year Ended 2/28/2019(g) | $9.38 | (5.11%) | 1.19%(d) | 0.87%(d) | 3.14% | 71% | $132,187 |
Class R | |||||||
Six Months Ended 8/31/2023 (Unaudited) | $9.66 | 4.67% | 1.55%(c) | 1.47%(c) | 2.64% | 21% | $3 |
Year Ended 2/28/2023 | $9.36 | (7.09%) | 1.50%(c),(d) | 1.47%(c),(d),(e) | 1.46% | 60% | $3 |
Year Ended 2/28/2022 | $10.23 | 1.18% | 1.51%(c),(d) | 1.47%(c),(d),(e) | 1.24% | 43% | $3 |
Year Ended 2/28/2021 | $10.88 | 23.43% | 1.59%(c),(d) | 1.48%(c),(d),(e) | 2.33% | 39% | $3 |
Year Ended 2/29/2020 | $8.99 | (0.73%) | 1.65% | 1.52% | 1.88% | 48% | $19 |
Year Ended 2/28/2019(g) | $9.36 | (5.77%) | 1.90%(d) | 1.53%(d) | 2.91% | 71% | $64 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 21 |
August 31, 2023 (Unaudited)
22 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2023 | 23 |
August 31, 2023 (Unaudited)
24 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Investments, at value — Option contracts purchased | 87,615 |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 3,811,322 |
Total | 3,898,937 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 25 |
August 31, 2023 (Unaudited)
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 5,892,803 |
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Option contracts purchased ($) | Option contracts written ($) | Total ($) |
Equity risk | — | (53,123) | 84,930 | 31,807 |
Foreign exchange risk | 5,569,423 | — | — | 5,569,423 |
Total | 5,569,423 | (53,123) | 84,930 | 5,601,230 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||
Risk exposure category | Forward foreign currency exchange contracts ($) | Option contracts purchased ($) | Total ($) |
Equity risk | — | (175,841) | (175,841) |
Foreign exchange risk | (2,356,432) | — | (2,356,432) |
Total | (2,356,432) | (175,841) | (2,532,273) |
Derivative instrument | Average value ($) |
Option contracts purchased | 134,721 |
Option contracts written | (1,602) |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 3,691,775 | (2,665,802) |
26 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Morgan Stanley ($) | |
Assets | |
Forward foreign currency exchange contracts | 3,811,322 |
Call option contracts purchased | 87,615 |
Total assets | 3,898,937 |
Liabilities | |
Forward foreign currency exchange contracts | 5,892,803 |
Total liabilities | 5,892,803 |
Total financial and derivative net assets | (1,993,866) |
Total collateral received (pledged) (a) | - |
Net amount (b) | (1,993,866) |
(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 Overseas Core Fund | Semiannual Report 2023 | 27 |
August 31, 2023 (Unaudited)
28 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Effective rate (%) | |
Class A | 0.15 |
Advisor Class | 0.15 |
Class C | 0.15 |
Institutional Class | 0.15 |
Institutional 2 Class | 0.07 |
Institutional 3 Class | 0.01 |
Class R | 0.15 |
Columbia Overseas Core Fund | Semiannual Report 2023 | 29 |
August 31, 2023 (Unaudited)
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 11,515 |
Class C | — | 1.00(b) | 21 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 1, 2023 through June 30, 2024 | Prior to July 1, 2023 | |
Class A | 1.22% | 1.22% |
Advisor Class | 0.97 | 0.97 |
Class C | 1.97 | 1.97 |
Institutional Class | 0.97 | 0.97 |
Institutional 2 Class | 0.89 | 0.90 |
Institutional 3 Class | 0.83 | 0.85 |
Class R | 1.47 | 1.47 |
30 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
815,715,000 | 139,605,000 | (91,419,000) | 48,186,000 |
No expiration short-term ($) | No expiration long-term ($) | Total ($) |
(31,432,423) | (33,814,896) | (65,247,319) |
Columbia Overseas Core Fund | Semiannual Report 2023 | 31 |
August 31, 2023 (Unaudited)
32 | Columbia Overseas Core Fund | Semiannual Report 2023 |
August 31, 2023 (Unaudited)
Columbia Overseas Core Fund | Semiannual Report 2023 | 33 |
August 31, 2023 (Unaudited)
34 | Columbia Overseas Core Fund | Semiannual Report 2023 |
• | 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 Overseas Core Fund | Semiannual Report 2023 | 35 |
(Unaudited)
• | 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 one or more 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). |
36 | Columbia Overseas Core Fund | Semiannual Report 2023 |
(Unaudited)
In addition, the Board discussed the acceptability of the terms of the Management Agreement, noting that no changes were proposed from the form of agreement previously approved. The Board also noted the wide array of legal and compliance services provided to the Fund under the Management Agreement.
Columbia Overseas Core Fund | Semiannual Report 2023 | 37 |
(Unaudited)
these and related factors, the Board concluded, within the context of their overall conclusions, that the costs of services provided and the profitability to the Investment Manager and its affiliates from their relationships with the Fund supported the continuation of the Management Agreement.
38 | Columbia Overseas Core Fund | Semiannual Report 2023 |
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.
Not applicable for semiannual reports.
Item 3. Audit Committee Financial Expert.
Not applicable for semiannual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable for semiannual reports.
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.
(a)(1) Code of ethics required to be disclosed under Item 2 of Form N-CSR: Not applicable for semiannual reports.
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 |
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By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | October 23, 2023 |
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title) | /s/ Daniel J. Beckman |
| Daniel J. Beckman, President and Principal Executive Officer |
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Date | October 23, 2023 |
By (Signature and Title) | /s/ Michael G. Clarke |
| Michael G. Clarke, Chief Financial Officer, |
| Principal Financial Officer and Senior Vice President |
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Date | October 23, 2023 |
By (Signature and Title) | /s/ Joseph Beranek |
| Joseph Beranek, Treasurer, Chief Accounting |
| Officer and Principal Financial Officer |
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Date | October 23, 2023 |