UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number811-04367
Columbia Funds Series Trust I
(Exact name of registrant as specified in charter)
225 Franklin Street
Boston, Massachusetts 02110
(Address of principal executive offices) (Zip code)
Daniel J. Beckman
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, Massachusetts 02110
Ryan C. Larrenaga, Esq.
c/o Columbia Management Investment Advisers, LLC
225 Franklin Street
Boston, MA 02110
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 345-6611
Date of fiscal year end: April 30
Date of reporting period: April 30, 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.
April 30, 2021
3 | |
5 | |
7 | |
8 | |
25 | |
27 | |
28 | |
30 | |
34 | |
51 | |
52 | |
52 | |
58 | |
59 |
Average annual total returns (%) (for the period ended April 30, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 03/31/08 | 5.96 | 3.76 | 3.49 |
Including sales charges | 0.98 | 2.77 | 2.99 | ||
Advisor Class* | 11/08/12 | 6.20 | 3.99 | 3.75 | |
Class C | Excluding sales charges | 03/31/08 | 5.15 | 2.98 | 2.77 |
Including sales charges | 4.15 | 2.98 | 2.77 | ||
Institutional Class | 01/09/86 | 6.19 | 4.01 | 3.75 | |
Institutional 2 Class* | 11/08/12 | 6.24 | 4.11 | 3.84 | |
Institutional 3 Class | 07/15/09 | 6.31 | 4.16 | 3.89 | |
Class R* | 11/16/11 | 5.70 | 3.50 | 3.23 | |
Class V | Excluding sales charges | 03/07/11 | 6.10 | 3.85 | 3.59 |
Including sales charges | 1.11 | 2.85 | 3.09 | ||
Bloomberg Barclays U.S. Aggregate Bond Index | -0.27 | 3.19 | 3.39 |
* | 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 Bond Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at April 30, 2021) | |
Asset-Backed Securities — Non-Agency | 16.0 |
Commercial Mortgage-Backed Securities - Agency | 0.5 |
Commercial Mortgage-Backed Securities - Non-Agency | 14.5 |
Common Stocks | 0.0(a) |
Corporate Bonds & Notes | 12.0 |
Money Market Funds | 4.0 |
Options Purchased Puts | 0.7 |
Residential Mortgage-Backed Securities - Agency | 17.2 |
Residential Mortgage-Backed Securities - Non-Agency | 34.9 |
U.S. Treasury Obligations | 0.2 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2021) | |
AAA rating | 33.9 |
AA rating | 11.7 |
A rating | 20.5 |
BBB rating | 22.6 |
BB rating | 1.0 |
Not rated | 10.3 |
Total | 100.0 |
4 | Columbia Bond Fund | Annual Report 2021 |
• | The Fund’s outperformance relative to the benchmark was largely the result of favorable sector allocation, security selection and positioning with respect to interest rate risk. |
• | From an asset allocation perspective, the Fund’s weighting toward credit-sensitive sectors, which benefited most directly from strong policy support as the pandemic emerged, drove positive contributions. |
○ | In this vein, exposure to securitized sectors including non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) added to relative performance. |
○ | In particular, the decision to increase exposure to non-agency MBS, which had been severely impacted by forced selling as the economy shut down, benefited return as the segment was boosted by a strong housing market and resilient consumer against a highly supportive policy backdrop. |
• | Favorable security selection was driven by a preference for issuers within both CMBS and investment-grade corporate bonds that had been most negatively impacted by COVID-19 pandemic-driven economic shutdowns. |
• | With Treasury yields hovering at historically low levels, the Fund lowered overall portfolio duration and corresponding interest rate sensitivity over the third quarter of 2020. This stance benefited performance as Treasury yields moved higher beginning in October 2020. |
• | Sector allocation within investment-grade corporate bonds weighed on return, although this was offset by positive issuer selection. |
Columbia Bond Fund | Annual Report 2021 | 5 |
6 | Columbia Bond Fund | Annual Report 2021 |
(Unaudited)
November 1, 2020 — April 30, 2021 | |||||||
Account value at the beginning of the period ($) | Account value at the end of the period ($) | Expenses paid during the period ($) | Fund’s annualized expense ratio (%) | ||||
Actual | Hypothetical | Actual | Hypothetical | Actual | Hypothetical | Actual | |
Class A | 1,000.00 | 1,000.00 | 1,006.50 | 1,021.14 | 3.80 | 3.83 | 0.76 |
Advisor Class | 1,000.00 | 1,000.00 | 1,007.80 | 1,022.39 | 2.55 | 2.57 | 0.51 |
Class C | 1,000.00 | 1,000.00 | 1,002.80 | 1,017.40 | 7.54 | 7.59 | 1.51 |
Institutional Class | 1,000.00 | 1,000.00 | 1,007.50 | 1,022.39 | 2.55 | 2.57 | 0.51 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,008.10 | 1,022.69 | 2.25 | 2.27 | 0.45 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,008.30 | 1,022.94 | 2.00 | 2.02 | 0.40 |
Class R | 1,000.00 | 1,000.00 | 1,005.30 | 1,019.90 | 5.05 | 5.09 | 1.01 |
Class V | 1,000.00 | 1,000.00 | 1,007.00 | 1,021.64 | 3.30 | 3.33 | 0.66 |
Columbia Bond Fund | Annual Report 2021 | 7 |
April 30, 2021
Asset-Backed Securities — Non-Agency 19.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
American Credit Acceptance Receivables Trust(a) | ||||
Series 2020-1 Class D | ||||
03/13/2026 | 2.390% | 2,770,000 | 2,847,012 | |
AmeriCredit Automobile Receivables Trust | ||||
Series 2020-2 Class D | ||||
03/18/2026 | 2.130% | 3,610,000 | 3,722,484 | |
Ares LVIII CLO Ltd.(a),(b) | ||||
Series 2020-58A Class D | ||||
3-month USD LIBOR + 3.500% Floor 3.500% 01/15/2033 | 3.736% | 3,000,000 | 3,012,909 | |
Avant Loans Funding Trust(a) | ||||
Series 2019-A Class B | ||||
12/15/2022 | 3.800% | 466,147 | 467,123 | |
Series 2019-B Class A | ||||
10/15/2026 | 2.720% | 97,190 | 97,237 | |
Series 2019-B Class B | ||||
10/15/2026 | 3.150% | 11,750,000 | 11,837,929 | |
Series 2020-REV1 Class A | ||||
05/15/2029 | 2.170% | 1,785,000 | 1,787,197 | |
Bain Capital Credit CLO Ltd.(a),(b) | ||||
Series 2018-1A Class B | ||||
3-month USD LIBOR + 1.400% 04/23/2031 | 1.573% | 2,000,000 | 1,973,310 | |
Series 2020-5A Class A1 | ||||
3-month USD LIBOR + 1.220% Floor 1.220% 01/20/2032 | 1.492% | 10,000,000 | 10,003,490 | |
Series 2020-5A Class C | ||||
3-month USD LIBOR + 2.350% Floor 2.350% 01/20/2032 | 2.622% | 4,480,000 | 4,485,972 | |
Carlyle Group LP(a),(b) | ||||
Series 2017-5A Class A2 | ||||
3-month USD LIBOR + 1.400% 01/20/2030 | 1.588% | 2,000,000 | 1,983,150 | |
Carlyle US CLO Ltd.(a),(b) | ||||
Series 2020-2A Class C | ||||
3-month USD LIBOR + 4.000% Floor 4.000% 10/25/2031 | 4.174% | 1,845,000 | 1,850,212 | |
Cent CLO Ltd.(a),(b) | ||||
Series 2018-C17A Class A2R | ||||
3-month USD LIBOR + 1.600% 04/30/2031 | 1.786% | 1,800,000 | 1,797,136 | |
CLUB Credit Trust(a) | ||||
Subordinated Series 2018-P3 Class B | ||||
01/15/2026 | 4.320% | 5,701,037 | 5,742,647 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Consumer Loan Underlying Bond CLUB Credit Trust(a) | ||||
Series 2019-P2 Class A | ||||
10/15/2026 | 2.470% | 151,859 | 152,367 | |
Subordinated Series 2020-P1 Class B | ||||
03/15/2028 | 2.920% | 1,350,000 | 1,372,932 | |
Consumer Loan Underlying Bond Credit Trust(a) | ||||
Series 2019-P1 Class A | ||||
07/15/2026 | 2.940% | 279,829 | 280,465 | |
Series 2019-P1 Class B | ||||
07/15/2026 | 3.280% | 2,150,000 | 2,176,544 | |
Consumer Underlying Bond Securitization(a) | ||||
Series 2018-1 Class A | ||||
02/17/2026 | 4.790% | 1,113,114 | 1,135,187 | |
Dryden 83 CLO Ltd.(a),(b) | ||||
Series 2020-83A Class C | ||||
3-month USD LIBOR + 2.150% Floor 2.150% 01/18/2032 | 2.387% | 5,000,000 | 5,007,405 | |
Dryden CLO Ltd.(a),(b) | ||||
Series 2018-57A Class B | ||||
3-month USD LIBOR + 1.350% Floor 1.350% 05/15/2031 | 1.544% | 1,250,000 | 1,250,009 | |
DT Auto Owner Trust(a) | ||||
Subordinated Series 2020-1A Class D | ||||
11/17/2025 | 2.550% | 4,250,000 | 4,384,004 | |
ENVA LLC(a) | ||||
Series 2019-A Class B | ||||
06/22/2026 | 6.170% | 535,242 | 541,624 | |
Exeter Automobile Receivables Trust | ||||
Subordinated Series 2020-3A Class D | ||||
07/15/2026 | 1.730% | 1,700,000 | 1,726,637 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2020-3A Class C | ||||
05/15/2025 | 1.920% | 3,000,000 | 3,066,951 | |
Subordinated Series 2020-4A Class C | ||||
11/17/2025 | 1.140% | 4,875,000 | 4,897,532 | |
LendingClub Receivables Trust(a) | ||||
Series 2019-2 Class A | ||||
08/15/2025 | 4.000% | 793,013 | 807,751 | |
Lucali CLO Ltd.(a),(b) | ||||
Series 2020-1A Class C | ||||
3-month USD LIBOR + 2.200% Floor 2.200% 01/15/2033 | 2.438% | 6,500,000 | 6,503,978 |
8 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2020-1A Class D | ||||
3-month USD LIBOR + 3.600% Floor 3.600% 01/15/2033 | 3.838% | 1,500,000 | 1,502,664 | |
Madison Park Funding XXIV Ltd.(a),(b) | ||||
Series 2016-24A Class BR | ||||
3-month USD LIBOR + 1.750% 10/20/2029 | 1.938% | 5,000,000 | 5,000,660 | |
Madison Park Funding XXVII Ltd.(a),(b) | ||||
Series 2018-27A Class A2 | ||||
3-month USD LIBOR + 1.350% 04/20/2030 | 1.538% | 3,700,000 | 3,667,495 | |
Marlette Funding Trust(a) | ||||
Series 2020-2A Class B | ||||
09/16/2030 | 1.830% | 4,400,000 | 4,433,784 | |
Subordinated Series 2018-4A Class B | ||||
12/15/2028 | 4.210% | 1,510,185 | 1,520,383 | |
Subordinated Series 2019-4A Class B | ||||
12/17/2029 | 2.950% | 7,300,000 | 7,435,760 | |
Marlette Funding Trust(a),(c) | ||||
Series 2021-1A Class A | ||||
06/16/2031 | 0.600% | 2,150,000 | 2,149,940 | |
Series 2021-1A Class B | ||||
06/16/2031 | 1.000% | 1,800,000 | 1,799,886 | |
Series 2021-1A Class C | ||||
06/16/2031 | 1.410% | 300,000 | 299,923 | |
Octagon Investment Partners 35 Ltd.(a),(b) | ||||
Series 2018-1A Class A2 | ||||
3-month USD LIBOR + 1.400% Floor 1.400% 01/20/2031 | 1.588% | 1,820,000 | 1,808,106 | |
Octagon Investment Partners XV Ltd.(a),(b) | ||||
Series 2013-1A Class A1AR | ||||
3-month USD LIBOR + 1.210% 07/19/2030 | 1.400% | 2,500,000 | 2,500,550 | |
Octagon Investment Partners XXII Ltd.(a),(b) | ||||
Series 2014-1A Class BRR | ||||
3-month USD LIBOR + 1.450% Floor 1.450% 01/22/2030 | 1.634% | 4,000,000 | 4,000,820 | |
Octane Receivables Trust(a) | ||||
Series 2019-1A Class A | ||||
09/20/2023 | 3.160% | 880,124 | 891,305 | |
OneMain Financial Issuance Trust(a) | ||||
Series 2018-1A Class A | ||||
03/14/2029 | 3.300% | 1,872,709 | 1,879,529 | |
Oportun Issuance Trust(a),(c) | ||||
Series 2021-B Class A | ||||
05/08/2031 | 1.470% | 6,800,000 | 6,795,328 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
OZLM XXI(a),(b) | ||||
Series 2017-21A Class A1 | ||||
3-month USD LIBOR + 1.150% 01/20/2031 | 1.338% | 7,500,000 | 7,485,427 | |
Pagaya AI Debt Selection Trust(a) | ||||
Series 2019-2 Class A2A | ||||
09/15/2026 | 3.929% | 389,766 | 390,758 | |
Series 2019-3 Class A | ||||
11/16/2026 | 3.821% | 2,035,185 | 2,064,082 | |
Series 2020-3 Class B | ||||
05/17/2027 | 3.220% | 3,000,000 | 3,076,270 | |
Series 2021-1 Class A | ||||
11/15/2027 | 1.180% | 13,455,000 | 13,439,232 | |
Rockland Park CLO Ltd.(a),(b),(c) | ||||
Series 2021-1A Class A | ||||
3-month USD LIBOR + 1.120% Floor 1.120% 04/20/2034 | 2.000% | 7,000,000 | 7,000,000 | |
RR 1 LLC(a),(b) | ||||
Series 2017-1A Class A2R | ||||
3-month USD LIBOR + 1.700% 07/15/2029 | 1.884% | 10,000,000 | 10,002,490 | |
RR 3 Ltd.(a),(b) | ||||
Series 2014-14A Class A1R2 | ||||
3-month USD LIBOR + 1.090% Floor 1.090% 01/15/2030 | 1.274% | 4,500,000 | 4,495,774 | |
Santander Consumer Auto Receivables Trust(a) | ||||
Subordinated Series 2020-BA Class D | ||||
12/15/2026 | 2.140% | 1,850,000 | 1,874,118 | |
Santander Drive Auto Receivables Trust | ||||
Series 2020-2 Class D | ||||
09/15/2026 | 2.220% | 6,750,000 | 6,966,393 | |
SoFi Consumer Loan Program LLC(a) | ||||
Series 2017-5 Class A2 | ||||
09/25/2026 | 2.780% | 45,320 | 45,523 | |
SoFi Consumer Loan Program Trust(a) | ||||
Series 2018-3 Class B | ||||
08/25/2027 | 4.020% | 1,800,000 | 1,827,471 | |
Subordinated Series 2018-2 Class C | ||||
04/26/2027 | 4.250% | 11,616,000 | 12,040,890 | |
Theorem Funding Trust(a) | ||||
Series 2020-1A Class A | ||||
10/15/2026 | 2.480% | 2,641,748 | 2,656,482 | |
Upstart Pass-Through Trust(a),(d) | ||||
Series 2020-ST4 Class A | ||||
11/20/2026 | 3.250% | 2,137,799 | 2,137,798 | |
Upstart Pass-Through Trust(a) | ||||
Series 2021-ST1 Class A | ||||
02/20/2027 | 2.750% | 2,098,363 | 2,117,423 |
Columbia Bond Fund | Annual Report 2021 | 9 |
April 30, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Upstart Securitization Trust(a) | ||||
Series 2021-1 Class B | ||||
03/20/2031 | 1.890% | 4,250,000 | 4,254,053 | |
Subordinated Series 2020-3 Class B | ||||
11/20/2030 | 3.014% | 4,000,000 | 4,088,533 | |
Total Asset-Backed Securities — Non-Agency (Cost $215,014,288) | 216,560,044 | |||
Commercial Mortgage-Backed Securities - Agency 0.6% | ||||
Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates(e) | ||||
Series 2017-K070 Class A2 | ||||
11/25/2027 | 3.303% | 1,000,000 | 1,116,969 | |
Federal National Mortgage Association(e) | ||||
Series 2017-M15 Class ATS2 | ||||
11/25/2027 | 3.196% | 4,750,000 | 5,054,311 | |
Government National Mortgage Association(e),(f) | ||||
Series 2019-147 Class IO | ||||
06/16/2061 | 0.614% | 7,752,136 | 487,492 | |
Total Commercial Mortgage-Backed Securities - Agency (Cost $6,418,011) | 6,658,772 | |||
Commercial Mortgage-Backed Securities - Non-Agency 17.3% | ||||
American Homes 4 Rent Trust(a) | ||||
Series 2014-SFR2 Class A | ||||
10/17/2036 | 3.786% | 2,422,754 | 2,592,436 | |
Series 2014-SFR3 Class A | ||||
12/17/2036 | 3.678% | 2,750,743 | 2,961,720 | |
Aventura Mall Trust(a),(e) | ||||
Series 2018-AVM Class A | ||||
07/05/2040 | 4.249% | 3,000,000 | 3,385,362 | |
BAMLL Commercial Mortgage Securities Trust(a),(e) | ||||
Series 2013-WBRK Class A | ||||
03/10/2037 | 3.652% | 1,350,000 | 1,435,867 | |
BAMLL Commercial Mortgage Securities Trust(a),(b) | ||||
Series 2018-DSNY Class A | ||||
1-month USD LIBOR + 0.851% Floor 0.850% 09/15/2034 | 0.965% | 4,500,000 | 4,503,422 | |
Series 2019-RLJ Class D | ||||
1-month USD LIBOR + 1.950% Floor 1.950% 04/15/2036 | 2.065% | 1,300,000 | 1,233,880 | |
Subordinated Series 2018-DSNY Class B | ||||
1-month USD LIBOR + 1.150% Floor 1.150% 09/15/2034 | 1.265% | 9,325,000 | 9,307,394 | |
Subordinated Series 2018-DSNY Class D | ||||
1-month USD LIBOR + 1.700% Floor 1.700% 09/15/2034 | 1.815% | 1,000,000 | 990,586 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BBCMS Trust(a),(b) | ||||
Series 2018-BXH Class A | ||||
1-month USD LIBOR + 1.000% Floor 1.000% 10/15/2037 | 1.115% | 2,503,753 | 2,508,102 | |
Subordinated Series 2018-BXH Class D | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 10/15/2037 | 2.115% | 2,000,000 | 1,923,879 | |
BFLD Trust(a),(b) | ||||
Series 2019-DPLO Class A | ||||
1-month USD LIBOR + 1.091% Floor 1.091% 10/15/2034 | 1.205% | 3,000,000 | 2,999,999 | |
BHMS Mortgage Trust(a),(b) | ||||
Series 2018-ATLS Class A | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 07/15/2035 | 1.365% | 3,000,000 | 2,999,064 | |
Braemar Hotels & Resorts Trust(a),(b) | ||||
Series 2018-PRME Class A | ||||
1-month USD LIBOR + 0.821% Floor 0.820% 06/15/2035 | 0.935% | 8,000,000 | 7,953,750 | |
BX Commercial Mortgage Trust(a) | ||||
Series 2020-VIV4 Class A | ||||
03/09/2044 | 2.843% | 7,500,000 | 7,676,981 | |
BX Commercial Mortgage Trust(a),(b) | ||||
Subordinated Series 2021-MFM1 Class C | ||||
1-month USD LIBOR + 1.200% Floor 1.200% 01/15/2034 | 1.315% | 4,500,000 | 4,497,301 | |
Subordinated Series 2021-MFM1 Class D | ||||
1-month USD LIBOR + 1.500% Floor 1.500% 01/15/2034 | 1.615% | 1,500,000 | 1,499,100 | |
BX Trust(a),(b) | ||||
Series 2018-GW Class A | ||||
1-month USD LIBOR + 0.800% Floor 0.800% 05/15/2035 | 0.915% | 1,600,000 | 1,599,977 | |
Series 2019-ATL Class C | ||||
1-month USD LIBOR + 1.587% Floor 1.587%, Cap 1.587% 10/15/2036 | 1.702% | 823,000 | 815,821 | |
Series 2019-ATL Class D | ||||
1-month USD LIBOR + 1.887% Floor 1.887% 10/15/2036 | 2.002% | 747,000 | 730,245 | |
BX Trust(a) | ||||
Series 2019-OC11 Class A | ||||
12/09/2041 | 3.202% | 3,400,000 | 3,598,674 |
10 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CHT Mortgage Trust(a),(b) | ||||
Series 2017-CSMO Class B | ||||
1-month USD LIBOR + 1.400% Floor 1.200% 11/15/2036 | 1.515% | 8,450,000 | 8,455,278 | |
Series 2017-CSMO Class C | ||||
1-month USD LIBOR + 1.500% Floor 1.350% 11/15/2036 | 1.615% | 1,600,000 | 1,600,999 | |
Series 2017-CSMO Class D | ||||
1-month USD LIBOR + 2.250% Floor 2.100% 11/15/2036 | 2.365% | 2,000,000 | 2,001,875 | |
Citigroup Commercial Mortgage Trust(a),(e) | ||||
Subordinated Series 2020-420K Class D | ||||
11/10/2042 | 3.422% | 2,250,000 | 2,165,874 | |
CLNY Trust(a),(b) | ||||
Series 2019-IKPR Class A | ||||
1-month USD LIBOR + 1.129% Floor 1.129% 11/15/2038 | 1.244% | 1,000,000 | 999,378 | |
COMM Mortgage Trust(a),(e) | ||||
Series 2020-CBM Class D | ||||
02/10/2037 | 3.754% | 1,750,000 | 1,730,170 | |
Corevest American Finance Trust(a) | ||||
Series 2020-4 Class A | ||||
12/15/2052 | 1.174% | 19,705,630 | 19,482,166 | |
Credit Suisse Mortgage Capital Certificates OA LLC(a) | ||||
Series 2014-USA Class A2 | ||||
09/15/2037 | 3.953% | 6,220,000 | 6,704,995 | |
Hilton U.S.A. Trust(a),(e) | ||||
Subordinated Series 2016-HHV Class C | ||||
11/05/2038 | 4.333% | 1,700,000 | 1,822,187 | |
Hilton USA Trust(a) | ||||
Subordinated Series 2016-SFP Class D | ||||
11/05/2035 | 4.927% | 1,646,000 | 1,652,348 | |
Independence Plaza Trust(a) | ||||
Series 2018-INDP Class B | ||||
07/10/2035 | 3.911% | 4,000,000 | 4,213,442 | |
Invitation Homes Trust(a),(b) | ||||
Series 2017-SFR2 Class A | ||||
1-month USD LIBOR + 0.850% Floor 0.850% 12/17/2036 | 0.965% | 4,915,509 | 4,923,113 | |
Series 2018-SFR2 Class A | ||||
1-month USD LIBOR + 0.900% Floor 0.900% 06/17/2037 | 1.015% | 1,583,032 | 1,584,494 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Series 2018-SFR2 Class C | ||||
1-month USD LIBOR + 1.280% Floor 1.350% 06/17/2037 | 1.395% | 1,000,000 | 1,002,586 | |
Subordinated Series 2018-SFR4 Class C | ||||
1-month USD LIBOR + 1.400% Floor 1.250% 01/17/2038 | 1.515% | 2,000,000 | 2,007,648 | |
JPMorgan Chase Commercial Mortgage Securities Trust(a),(e) | ||||
Subordinated Series 2021-2NU Class C | ||||
01/05/2040 | 2.077% | 1,750,000 | 1,716,343 | |
Morgan Stanley Capital I Trust(a),(e) | ||||
Series 2019-MEAD Class D | ||||
11/10/2036 | 3.283% | 1,200,000 | 1,181,016 | |
One New York Plaza Trust(a),(b) | ||||
Subordinated Series 2020-1NYP Class B | ||||
1-month USD LIBOR + 1.500% Floor 1.500% 01/15/2026 | 1.615% | 15,000,000 | 15,111,753 | |
Subordinated Series 2020-1NYP Class C | ||||
1-month USD LIBOR + 2.200% Floor 2.200% 01/15/2026 | 2.315% | 5,000,000 | 5,043,459 | |
Progress Residential Trust(a) | ||||
Series 2017-SFR1 Class A | ||||
08/17/2034 | 2.768% | 715,363 | 720,659 | |
Series 2018-SF3 Class A | ||||
10/17/2035 | 3.880% | 1,018,254 | 1,027,809 | |
Series 2018-SFR2 Class A | ||||
08/17/2035 | 3.712% | 1,350,000 | 1,358,685 | |
Series 2019-SFR1 Class E | ||||
08/17/2035 | 4.466% | 1,100,000 | 1,122,203 | |
Series 2020-SFR1 Class E | ||||
04/17/2037 | 3.032% | 1,800,000 | 1,837,349 | |
Series 2020-SFR3 Class B | ||||
10/17/2027 | 1.495% | 4,000,000 | 3,972,744 | |
Series 2020-SFR3 Class C | ||||
10/17/2027 | 1.695% | 6,250,000 | 6,219,296 | |
RETL(a),(b) | ||||
Subordinated Series 2019-RVP Class C | ||||
1-month USD LIBOR + 2.100% Floor 2.100% 03/15/2036 | 2.215% | 2,369,785 | 2,357,944 | |
SFO Commercial Mortgage Trust(a),(b),(c) | ||||
Series 2021-555 Class A | ||||
1-month USD LIBOR + 1.150% Floor 1.150% 05/15/2038 | 1.260% | 8,000,000 | 8,052,960 |
Columbia Bond Fund | Annual Report 2021 | 11 |
April 30, 2021
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Tricon American Homes(a) | ||||
Series 2020-SFR1 Class C | ||||
07/17/2038 | 2.249% | 7,000,000 | 7,140,426 | |
UBS Commercial Mortgage Trust(a),(b) | ||||
Series 2018-NYCH Class A | ||||
1-month USD LIBOR + 0.851% Floor 0.851% 02/15/2032 | 0.965% | 2,000,000 | 1,995,064 | |
Series 2018-NYCH Class B | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 02/15/2032 | 1.365% | 900,000 | 896,242 | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Series 2017-SMP Class A | ||||
1-month USD LIBOR + 0.875% Floor 0.750% 12/15/2034 | 0.990% | 4,720,000 | 4,705,297 | |
Series 2020-SDAL Class D | ||||
1-month USD LIBOR + 2.090% Floor 2.090% 02/15/2037 | 2.205% | 5,600,000 | 5,320,759 | |
Subordinated Series 2017-SMP Class C | ||||
1-month USD LIBOR + 1.325% Floor 1.200% 12/15/2034 | 1.440% | 800,000 | 790,230 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $193,441,478) | 196,130,351 |
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Consumer Staples 0.0% | ||
Beverages 0.0% | ||
Crimson Wine Group Ltd.(g) | 3 | 24 |
Total Consumer Staples | 24 | |
Financials 0.0% | ||
Diversified Financial Services 0.0% | ||
Jefferies Financial Group, Inc. | 39 | 1,268 |
Total Financials | 1,268 | |
Total Common Stocks (Cost $—) | 1,292 |
Corporate Bonds & Notes 14.3% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 0.2% | ||||
Northrop Grumman Corp. | ||||
01/15/2028 | 3.250% | 1,720,000 | 1,860,037 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Technologies Corp. | ||||
11/16/2028 | 4.125% | 660,000 | 748,956 | |
Total | 2,608,993 | |||
Banking 2.8% | ||||
Bank of America Corp.(h) | ||||
07/23/2031 | 1.898% | 7,130,000 | 6,767,648 | |
10/24/2031 | 1.922% | 2,300,000 | 2,184,381 | |
Citigroup, Inc.(h) | ||||
06/03/2031 | 2.572% | 1,145,000 | 1,150,304 | |
Citigroup, Inc.(c),(h) | ||||
05/01/2032 | 2.561% | 2,517,000 | 2,514,825 | |
Goldman Sachs Group, Inc. (The)(h) | ||||
05/01/2029 | 4.223% | 1,080,000 | 1,222,471 | |
JPMorgan Chase & Co.(h) | ||||
10/15/2030 | 2.739% | 4,900,000 | 5,028,235 | |
04/22/2032 | 2.580% | 5,350,000 | 5,372,843 | |
Morgan Stanley(h) | ||||
01/22/2031 | 2.699% | 510,000 | 521,241 | |
04/28/2032 | 1.928% | 870,000 | 825,188 | |
Wells Fargo & Co. | ||||
10/23/2026 | 3.000% | 1,620,000 | 1,746,783 | |
Wells Fargo & Co.(h) | ||||
02/11/2031 | 2.572% | 4,920,000 | 4,974,637 | |
Total | 32,308,556 | |||
Cable and Satellite 0.6% | ||||
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 185,000 | 216,834 | |
03/01/2050 | 4.800% | 1,700,000 | 1,868,257 | |
04/01/2061 | 3.850% | 2,995,000 | 2,752,053 | |
Comcast Corp. | ||||
02/15/2031 | 1.500% | 1,645,000 | 1,529,970 | |
Total | 6,367,114 | |||
Chemicals 0.0% | ||||
LYB International Finance III LLC | ||||
05/01/2050 | 4.200% | 270,000 | 295,709 | |
Diversified Manufacturing 0.2% | ||||
Carrier Global Corp. | ||||
04/05/2040 | 3.377% | 2,445,000 | 2,466,742 | |
Electric 2.7% | ||||
AEP Texas, Inc. | ||||
01/15/2050 | 3.450% | 2,980,000 | 2,993,067 | |
Berkshire Hathaway Energy Co. | ||||
10/15/2050 | 4.250% | 160,000 | 187,790 |
12 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMS Energy Corp. | ||||
03/01/2024 | 3.875% | 660,000 | 710,398 | |
11/15/2025 | 3.600% | 50,000 | 54,566 | |
Consolidated Edison Co. of New York, Inc. | ||||
04/01/2050 | 3.950% | 560,000 | 620,159 | |
DTE Energy Co. | ||||
10/01/2026 | 2.850% | 4,075,000 | 4,345,402 | |
Duke Energy Corp. | ||||
06/01/2030 | 2.450% | 240,000 | 239,191 | |
09/01/2046 | 3.750% | 2,930,000 | 3,027,391 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 2,910,000 | 3,341,432 | |
Eversource Energy | ||||
01/15/2028 | 3.300% | 2,370,000 | 2,559,885 | |
Georgia Power Co. | ||||
03/15/2042 | 4.300% | 1,885,000 | 2,169,948 | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 2,220,000 | 2,270,942 | |
PacifiCorp | ||||
02/15/2050 | 4.150% | 1,625,000 | 1,893,203 | |
San Diego Gas & Electric Co. | ||||
04/15/2050 | 3.320% | 420,000 | 430,862 | |
Southern Co. (The) | ||||
07/01/2046 | 4.400% | 1,624,000 | 1,846,182 | |
WEC Energy Group, Inc. | ||||
10/15/2027 | 1.375% | 975,000 | 949,965 | |
Xcel Energy, Inc. | ||||
06/01/2030 | 3.400% | 2,425,000 | 2,621,121 | |
Total | 30,261,504 | |||
Finance Companies 0.5% | ||||
GE Capital International Funding Co. Unlimited Co. | ||||
11/15/2035 | 4.418% | 5,060,000 | 5,820,193 | |
Food and Beverage 1.2% | ||||
Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | ||||
02/01/2046 | 4.900% | 6,417,000 | 7,665,844 | |
Bacardi Ltd.(a) | ||||
05/15/2048 | 5.300% | 1,295,000 | 1,615,002 | |
Kraft Heinz Foods Co. | ||||
06/01/2046 | 4.375% | 1,808,000 | 1,936,641 | |
Mondelez International, Inc. | ||||
04/13/2030 | 2.750% | 2,300,000 | 2,374,823 | |
Total | 13,592,310 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Care 0.7% | ||||
Becton Dickinson and Co.(b) | ||||
3-month USD LIBOR + 1.030% 06/06/2022 | 1.206% | 963,000 | 971,352 | |
Becton Dickinson and Co. | ||||
06/06/2024 | 3.363% | 420,000 | 452,283 | |
06/06/2027 | 3.700% | 2,345,000 | 2,605,542 | |
02/11/2031 | 1.957% | 910,000 | 867,432 | |
CVS Health Corp. | ||||
03/25/2048 | 5.050% | 2,380,000 | 2,929,012 | |
Total | 7,825,621 | |||
Independent Energy 0.0% | ||||
Canadian Natural Resources Ltd. | ||||
06/30/2033 | 6.450% | 110,000 | 141,709 | |
Integrated Energy 0.1% | ||||
Chevron USA, Inc. | ||||
04/01/2027 | 8.000% | 809,000 | 1,100,733 | |
Life Insurance 0.4% | ||||
Guardian Life Insurance Co. of America (The)(a) | ||||
Subordinated | ||||
06/19/2064 | 4.875% | 1,000,000 | 1,228,186 | |
Massachusetts Mutual Life Insurance Co.(a) | ||||
Subordinated | ||||
10/15/2070 | 3.729% | 357,000 | 359,941 | |
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 335,000 | 368,021 | |
Teachers Insurance & Annuity Association of America(a) | ||||
Subordinated | ||||
09/15/2044 | 4.900% | 475,000 | 592,324 | |
Voya Financial, Inc. | ||||
06/15/2026 | 3.650% | 650,000 | 722,928 | |
06/15/2046 | 4.800% | 994,000 | 1,214,163 | |
Total | 4,485,563 | |||
Midstream 0.8% | ||||
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 2,165,000 | 2,493,252 | |
MPLX LP | ||||
04/15/2048 | 4.700% | 1,175,000 | 1,289,229 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 2,780,000 | 2,675,612 | |
Western Gas Partners LP | ||||
08/15/2048 | 5.500% | 550,000 | 565,784 | |
Williams Companies, Inc. (The) | ||||
09/15/2045 | 5.100% | 1,660,000 | 1,926,132 | |
Total | 8,950,009 |
Columbia Bond Fund | Annual Report 2021 | 13 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Natural Gas 0.6% | ||||
NiSource, Inc. | ||||
09/01/2029 | 2.950% | 1,000,000 | 1,043,063 | |
05/01/2030 | 3.600% | 1,535,000 | 1,677,309 | |
02/15/2043 | 5.250% | 455,000 | 574,539 | |
02/15/2044 | 4.800% | 50,000 | 60,167 | |
05/15/2047 | 4.375% | 2,741,000 | 3,167,536 | |
Sempra Energy | ||||
06/15/2027 | 3.250% | 92,000 | 99,815 | |
Total | 6,622,429 | |||
Pharmaceuticals 0.4% | ||||
AbbVie, Inc. | ||||
06/15/2044 | 4.850% | 2,780,000 | 3,383,208 | |
11/21/2049 | 4.250% | 1,440,000 | 1,636,018 | |
Total | 5,019,226 | |||
Railroads 0.0% | ||||
Union Pacific Corp. | ||||
02/05/2070 | 3.750% | 397,000 | 410,252 | |
Retailers 0.1% | ||||
Lowe’s Companies, Inc. | ||||
05/03/2047 | 4.050% | 790,000 | 876,874 | |
10/15/2050 | 3.000% | 420,000 | 396,901 | |
Total | 1,273,775 | |||
Technology 0.9% | ||||
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2027 | 3.875% | 854,000 | 935,670 | |
Broadcom, Inc. | ||||
11/15/2030 | 4.150% | 1,195,000 | 1,305,740 | |
Broadcom, Inc.(a) | ||||
04/15/2034 | 3.469% | 951,000 | 961,198 | |
Intel Corp. | ||||
05/11/2047 | 4.100% | 1,048,000 | 1,204,062 | |
NXP BV/Funding LLC/USA, Inc.(a) | ||||
05/01/2030 | 3.400% | 200,000 | 213,657 | |
Oracle Corp. | ||||
04/01/2050 | 3.600% | 2,595,000 | 2,557,676 | |
03/25/2061 | 4.100% | 2,405,000 | 2,516,677 | |
Total | 9,694,680 | |||
Transportation Services 0.1% | ||||
FedEx Corp. | ||||
04/01/2046 | 4.550% | 1,075,000 | 1,250,194 | |
Wireless 0.2% | ||||
American Tower Corp. | ||||
08/15/2029 | 3.800% | 1,195,000 | 1,314,086 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
T-Mobile USA, Inc.(a) | ||||
04/15/2030 | 3.875% | 330,000 | 360,106 | |
02/15/2041 | 3.000% | 635,000 | 595,198 | |
Total | 2,269,390 | |||
Wirelines 1.8% | ||||
AT&T, Inc.(a) | ||||
09/15/2055 | 3.550% | 4,553,000 | 4,195,633 | |
12/01/2057 | 3.800% | 3,808,000 | 3,635,062 | |
Verizon Communications, Inc. | ||||
09/21/2028 | 4.329% | 5,460,000 | 6,294,195 | |
08/10/2033 | 4.500% | 2,744,000 | 3,231,615 | |
03/22/2061 | 3.700% | 2,486,000 | 2,516,224 | |
Total | 19,872,729 | |||
Total Corporate Bonds & Notes (Cost $162,108,544) | 162,637,431 | |||
Residential Mortgage-Backed Securities - Agency 20.6% | ||||
Federal Home Loan Mortgage Corp. | ||||
05/01/2041 | 5.000% | 160,702 | 177,927 | |
Federal Home Loan Mortgage Corp.(i) | ||||
06/01/2043 | 4.000% | 2,026,641 | 2,232,233 | |
Federal Home Loan Mortgage Corp.(b),(f) | ||||
CMO Series 4903 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 08/25/2049 | 5.944% | 3,273,975 | 678,974 | |
Federal Home Loan Mortgage Corp. REMIC(b),(f) | ||||
CMO Series 4999 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 06/25/2050 | 6.044% | 7,792,974 | 1,704,170 | |
Federal National Mortgage Association | ||||
08/01/2029- 09/01/2045 | 3.000% | 5,198,095 | 5,518,349 | |
07/01/2038 | 6.000% | 895,705 | 1,064,502 | |
01/01/2040 | 5.500% | 1,290,173 | 1,503,601 | |
09/01/2040 | 5.000% | 829,677 | 959,134 | |
05/01/2043- 10/01/2045 | 3.500% | 5,524,214 | 6,006,595 | |
11/01/2045- 02/01/2048 | 4.000% | 2,394,454 | 2,601,633 | |
Federal National Mortgage Association(i) | ||||
08/01/2040 | 4.500% | 1,769,736 | 1,972,689 | |
02/01/2046 | 3.500% | 1,669,150 | 1,803,498 |
14 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal National Mortgage Association(b),(f) | ||||
CMO Series 2016-53 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 08/25/2046 | 5.894% | 1,051,082 | 266,773 | |
CMO Series 2016-57 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 08/25/2046 | 5.894% | 2,757,030 | 673,382 | |
CMO Series 2016-93 Class SL | ||||
-1.0 x 1-month USD LIBOR + 6.650% Cap 6.650% 12/25/2046 | 6.544% | 4,014,433 | 762,723 | |
CMO Series 2017-109 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 01/25/2048 | 6.044% | 1,276,546 | 276,519 | |
CMO Series 2017-20 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.100% Cap 6.100% 04/25/2047 | 5.994% | 1,159,595 | 280,098 | |
CMO Series 2017-54 Class SN | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 07/25/2047 | 6.044% | 2,268,560 | 569,491 | |
CMO Series 2018-66 Class SM | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 09/25/2048 | 6.094% | 1,517,813 | 311,346 | |
CMO Series 2018-74 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 10/25/2048 | 6.044% | 1,954,105 | 437,867 | |
CMO Series 2019-33 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 07/25/2049 | 5.944% | 5,072,435 | 1,009,135 | |
CMO Series 2019-60 Class SH | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 10/25/2049 | 5.944% | 1,791,072 | 431,351 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-67 Class SE | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 11/25/2049 | 5.944% | 2,847,309 | 657,426 | |
Federal National Mortgage Association(f) | ||||
CMO Series 2021-3 Class TI | ||||
02/25/2051 | 2.500% | 19,825,523 | 3,527,228 | |
Government National Mortgage Association(b) | ||||
1-year CMT + 1.500% Floor 2.000, Cap 12.000 07/20/2021- 07/20/2022 | 2.250% | 2,169 | 2,186 | |
1-year CMT + 1.500% Floor 1.000, Cap 11.000 04/20/2022- 04/20/2028 | 2.875% | 6,657 | 6,760 | |
Government National Mortgage Association(i) | ||||
04/20/2048 | 4.500% | 1,776,751 | 1,933,863 | |
Government National Mortgage Association(b),(f) | ||||
CMO Series 2017-112 Class SJ | ||||
-1.0 x 1-month USD LIBOR + 5.660% Cap 5.660% 07/20/2047 | 5.544% | 4,889,949 | 862,418 | |
CMO Series 2017-130 Class HS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2047 | 6.084% | 1,274,040 | 305,285 | |
CMO Series 2017-149 Class BS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 10/20/2047 | 6.084% | 1,833,087 | 393,197 | |
CMO Series 2017-163 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 11/20/2047 | 6.084% | 921,363 | 205,648 | |
CMO Series 2017-37 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 03/20/2047 | 6.034% | 1,161,818 | 254,738 | |
CMO Series 2018-103 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2048 | 6.084% | 1,242,262 | 222,720 |
Columbia Bond Fund | Annual Report 2021 | 15 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-112 Class LS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2048 | 6.084% | 1,386,992 | 303,926 | |
CMO Series 2018-125 Class SK | ||||
-1.0 x 1-month USD LIBOR + 6.250% Cap 6.250% 09/20/2048 | 6.134% | 1,577,417 | 319,515 | |
CMO Series 2018-134 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 10/20/2048 | 6.084% | 1,345,600 | 267,403 | |
CMO Series 2018-148 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 01/20/2048 | 6.084% | 2,897,210 | 597,941 | |
CMO Series 2018-151 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 11/20/2048 | 6.034% | 2,497,734 | 482,454 | |
CMO Series 2018-89 Class MS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 06/20/2048 | 6.084% | 1,410,880 | 309,702 | |
CMO Series 2018-91 Class DS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 07/20/2048 | 6.084% | 1,648,206 | 293,180 | |
CMO Series 2019-20 Class JS | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 02/20/2049 | 5.884% | 2,198,204 | 460,637 | |
CMO Series 2019-5 Class SH | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 01/20/2049 | 6.034% | 1,616,250 | 320,517 | |
CMO Series 2019-56 Class SG | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 05/20/2049 | 6.034% | 1,778,087 | 342,937 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-59 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 05/20/2049 | 5.934% | 1,756,390 | 318,196 | |
CMO Series 2019-85 Class SC | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 07/20/2049 | 6.034% | 1,736,215 | 313,771 | |
CMO Series 2019-90 Class SD | ||||
-1.0 x 1-month USD LIBOR + 6.150% 07/20/2049 | 6.034% | 3,973,074 | 750,799 | |
CMO Series 2019-92 Class SD | ||||
-1.0 x 1-month USD LIBOR + 6.100% Cap 6.100% 07/20/2049 | 5.984% | 9,082,177 | 1,861,369 | |
CMO Series 2020-188 Class SA | ||||
1-month USD LIBOR + 6.300% Cap 6.300% 12/20/2050 | 6.184% | 15,347,264 | 4,082,415 | |
CMO Series 2020-21 Class VS | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 02/20/2050 | 5.934% | 1,573,115 | 222,723 | |
CMO Series 2020-62 Class SG | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 05/20/2050 | 6.034% | 2,424,839 | 412,857 | |
Government National Mortgage Association(f) | ||||
CMO Series 2020-164 Class CI | ||||
11/20/2050 | 3.000% | 9,833,462 | 1,458,684 | |
CMO Series 2020-175 Class KI | ||||
11/20/2050 | 2.500% | 24,674,964 | 3,728,424 | |
CMO Series 2020-191 Class UG | ||||
12/20/2050 | 3.500% | 9,830,477 | 1,588,793 | |
CMO Series 2021-16 Class KI | ||||
01/20/2051 | 2.500% | 11,431,485 | 1,759,795 | |
CMO Series 2021-9 Class MI | ||||
01/20/2051 | 2.500% | 11,890,935 | 1,612,808 | |
Government National Mortgage Association TBA(c) | ||||
05/20/2051 | 2.000% | 20,000,000 | 20,395,312 | |
05/20/2051 | 2.500% | 12,000,000 | 12,466,875 |
16 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Uniform Mortgage-Backed Security TBA(c) | ||||
05/18/2036- 05/13/2051 | 2.500% | 47,100,000 | 48,875,563 | |
05/18/2036- 05/13/2051 | 3.000% | 34,978,000 | 36,645,473 | |
05/18/2036 | 3.500% | 4,000,000 | 4,278,281 | |
05/13/2051 | 2.000% | 39,000,000 | 39,361,055 | |
05/13/2051 | 4.000% | 9,000,000 | 9,668,496 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $227,268,138) | 233,113,360 | |||
Residential Mortgage-Backed Securities - Non-Agency 41.7% | ||||
American Mortgage Trust(d),(e),(j) | ||||
CMO Series 2093-3 Class 3A | ||||
07/27/2023 | 8.188% | 117 | 71 | |
Angel Oak Mortgage Trust(a),(e) | ||||
CMO Series 2020-1 Class M1 | ||||
12/25/2059 | 3.161% | 3,000,000 | 3,067,037 | |
CMO Series 2020-3 Class A1 | ||||
04/25/2065 | 1.691% | 6,909,764 | 6,982,284 | |
Angel Oak Mortgage Trust I LLC(a),(e) | ||||
CMO Series 2018-3 Class M1 | ||||
09/25/2048 | 4.421% | 960,000 | 965,851 | |
Arroyo Mortgage Trust(a),(e) | ||||
CMO Series 2019-2 Class A3 | ||||
04/25/2049 | 3.800% | 473,041 | 483,880 | |
Bayview Koitere Fund Trust(a),(e) | ||||
CMO Series 2020-LT1 Class A1 | ||||
06/28/2035 | 4.213% | 3,685,952 | 3,704,338 | |
Bayview Opportunity Master Fund IVb Trust(a) | ||||
CMO Series 2017-SPL3 Class A | ||||
11/28/2053 | 4.000% | 1,795,658 | 1,837,881 | |
Bayview Opportunity Master Fund Trust(a),(e) | ||||
CMO Series 2020-RN1 Class A1 | ||||
02/28/2035 | 3.228% | 326,012 | 326,710 | |
Bellemeade Re Ltd.(a),(b) | ||||
CMO Series 2018-1A Class M1B | ||||
1-month USD LIBOR + 1.600% 04/25/2028 | 1.709% | 4,163,012 | 4,165,713 | |
CMO Series 2018-1A Class M2 | ||||
1-month USD LIBOR + 2.900% 04/25/2028 | 3.009% | 5,000,000 | 5,006,084 | |
CMO Series 2018-2A Class M1C | ||||
1-month USD LIBOR + 1.600% 08/25/2028 | 1.706% | 346,972 | 346,970 | |
CMO Series 2019-1A Class M1A | ||||
1-month USD LIBOR + 1.300% Floor 1.300% 03/25/2029 | 1.406% | 123,420 | 123,435 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-2A Class M1C | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 04/25/2029 | 2.106% | 4,250,000 | 4,274,648 | |
CMO Series 2019-3A Class M1A | ||||
1-month USD LIBOR + 1.100% Floor 1.100% 07/25/2029 | 1.206% | 134,572 | 134,579 | |
CMO Series 2019-3A Class M1B | ||||
1-month USD LIBOR + 1.600% Floor 1.600% 07/25/2029 | 1.706% | 3,200,000 | 3,213,558 | |
CMO Series 2019-3A Class M1C | ||||
1-month USD LIBOR + 1.950% Floor 1.950% 07/25/2029 | 2.098% | 3,500,000 | 3,499,999 | |
CMO Series 2020-2A Class M1A | ||||
1-month USD LIBOR + 2.300% Floor 2.300% 08/26/2030 | 2.406% | 2,031,018 | 2,031,720 | |
CMO Series 2020-3A Class M1A | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 10/25/2030 | 2.106% | 5,200,000 | 5,224,220 | |
BRAVO Residential Funding Trust(a),(e) | ||||
CMO Series 2019-NQM2 Class A1 | ||||
11/25/2059 | 2.748% | 365,079 | 373,420 | |
CMO Series 2019-NQM2 Class A3 | ||||
11/25/2059 | 3.108% | 156,463 | 159,240 | |
CMO Series 2019-NQM2 Class M1 | ||||
11/25/2059 | 3.451% | 300,000 | 294,205 | |
CMO Series 2020-NQM1 Class M1 | ||||
05/25/2060 | 3.181% | 2,500,000 | 2,580,162 | |
CMO Series 2020-RPL2 Class A1 | ||||
05/25/2059 | 2.000% | 2,768,798 | 2,816,835 | |
Bunker Hill Loan Depositary Trust(a),(e) | ||||
CMO Series 2019-3 Class A2 | ||||
11/25/2059 | 2.981% | 2,424,295 | 2,475,142 | |
CMO Series 2019-3 Class A3 | ||||
11/25/2059 | 3.135% | 3,532,544 | 3,600,595 | |
CMO Series 2020-1 Class A1 | ||||
02/25/2055 | 1.724% | 9,204,862 | 9,338,643 | |
BVRT Financing Trust(a),(b),(d) | ||||
CMO Series 2020-CRT1 Class M1 | ||||
1-month USD LIBOR + 1.750% 07/10/2032 | 1.861% | 7,749,129 | 7,749,129 | |
CMO Series 2021-CRT2 Class M1 | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 11/10/2032 | 1.861% | 2,974,858 | 2,974,858 |
Columbia Bond Fund | Annual Report 2021 | 17 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2021-CRT3 Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 01/10/2031 | 1.561% | 6,804,653 | 6,804,653 | |
BVRT Financing Trust(a),(b) | ||||
CMO Series 2021-1F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 03/15/2038 | 1.610% | 3,203,304 | 3,203,466 | |
BVRT Financing Trust(a),(b),(d),(j) | ||||
CMO Series 2021-2F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 01/10/2032 | 1.566% | 4,400,000 | 4,400,000 | |
CMO Series 2021-CRT1 Class M1 | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 01/10/2033 | 1.861% | 4,820,680 | 4,826,238 | |
CMO Series 2021-CRT1 Class M2 | ||||
1-month USD LIBOR + 2.250% Floor 2.250% 01/10/2033 | 2.361% | 2,000,000 | 2,002,306 | |
CIM Trust(a),(e) | ||||
CMO Series 2018-R4 Class A1 | ||||
12/26/2057 | 4.070% | 1,172,264 | 1,174,376 | |
CIM Trust(a),(b) | ||||
CMO Series 2018-R6 Class A1 | ||||
1-month USD LIBOR + 1.076% Floor 1.080% 09/25/2058 | 1.186% | 1,242,660 | 1,230,122 | |
Citigroup Mortgage Loan Trust, Inc.(a),(e) | ||||
CMO Series 2015-A Class A4 | ||||
06/25/2058 | 4.250% | 48,473 | 49,176 | |
COLT Mortgage Loan Trust(a),(e) | ||||
CMO Series 2020-2 Class A2 | ||||
03/25/2065 | 3.094% | 350,000 | 359,927 | |
Credit Suisse Mortgage Capital Certificates(a),(e) | ||||
CMO Series 2020-SPT1 Class A1 | ||||
04/25/2065 | 1.616% | 2,230,578 | 2,233,165 | |
Credit Suisse Mortgage Trust(a),(e) | ||||
CMO Series 2021-RPL2 Class A1A | ||||
01/25/2060 | 1.115% | 4,739,510 | 4,708,275 | |
CSMC Ltd.(a) | ||||
Subordinated CMO Series 2020-BPL2 Class A1 | ||||
03/25/2026 | 3.453% | 1,511,127 | 1,509,293 | |
CSMC Trust(a),(e) | ||||
CMO Series 2020-RPL2 Class A12 | ||||
02/25/2060 | 3.460% | 1,174,419 | 1,193,299 | |
CMO Series 2020-RPL6 Class A1 | ||||
03/25/2059 | 2.688% | 12,030,214 | 11,993,264 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated CMO Series 2020-RPL3 Class A1 | ||||
03/25/2060 | 2.691% | 3,687,676 | 3,758,901 | |
Deephaven Residential Mortgage Trust(a),(e) | ||||
CMO Series 2021-1 Class A2 | ||||
05/25/2065 | 0.973% | 2,126,390 | 2,118,284 | |
Eagle Re Ltd.(a),(b) | ||||
CMO Series 2018-1 Class M1 | ||||
1-month USD LIBOR + 1.700% Floor 1.700% 11/25/2028 | 1.806% | 275,303 | 276,587 | |
CMO Series 2021-1 Class M1A | ||||
30-day Average SOFR + 1.700% Floor 1.700% 10/25/2033 | 1.715% | 7,500,000 | 7,536,600 | |
Subordinated CMO Series 2020-1 Class M1B | ||||
1-month USD LIBOR + 1.450% 01/25/2030 | 1.556% | 3,100,000 | 3,060,699 | |
Ellington Financial Mortgage Trust(a),(e) | ||||
CMO Series 2020-1 Class A3 | ||||
06/25/2065 | 4.000% | 550,000 | 566,189 | |
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes(b) | ||||
CMO Series 2014-DN3 Class M3 | ||||
1-month USD LIBOR + 4.000% 08/25/2024 | 4.106% | 2,541,555 | 2,594,874 | |
FMC GMSR Issuer Trust(a),(e) | ||||
CMO Series 2019-GT2 Class A | ||||
09/25/2024 | 4.230% | 1,400,000 | 1,399,554 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2020-DNA4 Class M2 | ||||
1-month USD LIBOR + 3.750% Floor 3.750% 08/25/2050 | 3.856% | 1,111,339 | 1,126,454 | |
CMO Series 2021-DNA3 Class M1 | ||||
30-day Average SOFR + 0.750% 10/25/2033 | 0.760% | 8,000,000 | 8,006,472 | |
Freddie Mac Structured Agency Credit Risk Debt Notes(b) | ||||
CMO Series 2014-DN4 Class M3 | ||||
1-month USD LIBOR + 4.550% 10/25/2024 | 4.656% | 3,334,899 | 3,416,848 | |
FWD Securitization Trust(a),(e) | ||||
CMO Series 2020-INV1 Class M1 | ||||
01/25/2050 | 2.850% | 3,500,000 | 3,547,320 | |
GCAT LLC(a),(d),(e),(j) | ||||
CMO Series 2021-CM1 Class A1 | ||||
04/25/2065 | 1.469% | 8,500,000 | 8,499,956 | |
Genworth Mortgage Insurance Corp.(a),(b) | ||||
CMO Series 2019-1 Class M1 | ||||
1-month USD LIBOR + 1.900% Floor 1.900% 11/26/2029 | 2.006% | 1,215,620 | 1,215,625 |
18 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
GS Mortgage-Backed Securities Corp. Trust(a),(e) | ||||
CMO Series 2021-NQM1 Class A1 | ||||
07/25/2061 | 1.017% | 6,000,000 | 5,999,896 | |
Home RE Ltd.(a),(b) | ||||
CMO Series 2020-1 Class M1A | ||||
1-month USD LIBOR + 2.600% Floor 2.600% 10/25/2030 | 2.744% | 6,000,000 | 6,015,983 | |
Legacy Mortgage Asset Trust(a) | ||||
CMO Series 2019-GS1 Class A1 | ||||
01/25/2059 | 4.000% | 643,649 | 644,699 | |
Legacy Mortgage Asset Trust(a),(e) | ||||
CMO Series 2021-GS2 Class A1 | ||||
04/25/2061 | 1.750% | 2,750,000 | 2,748,888 | |
LVII Trust(a),(d),(e) | ||||
CMO Series 2020-1 Class A1 | ||||
05/25/2060 | 2.020% | 19,356,629 | 19,386,874 | |
Mello Warehouse Securitization Trust(a),(b) | ||||
CMO Series 2020-2 Class B | ||||
1-month USD LIBOR + 1.100% Floor 1.100% 11/25/2053 | 1.206% | 18,000,000 | 18,045,112 | |
CMO Series 2020-2 Class C | ||||
1-month USD LIBOR + 1.300% Floor 1.300% 11/25/2053 | 1.406% | 7,000,000 | 7,011,053 | |
MFA Trust(a),(e) | ||||
CMO Series 2017-RPL1 Class A1 | ||||
02/25/2057 | 2.588% | 224,280 | 226,772 | |
CMO Series 2020-NQM3 Class A1 | ||||
01/26/2065 | 1.014% | 15,911,084 | 15,986,877 | |
CMO Series 2020-NQM3 Class A2 | ||||
01/26/2065 | 1.324% | 6,364,434 | 6,376,435 | |
CMO Series 2020-NQM3 Class A3 | ||||
01/26/2065 | 1.632% | 4,773,325 | 4,786,514 | |
MFRA Trust(a),(e) | ||||
CMO Series 2021-INV1 Class A2 | ||||
01/25/2056 | 1.057% | 948,627 | 945,486 | |
CMO Series 2021-INV1 Class A3 | ||||
01/25/2056 | 1.262% | 1,478,909 | 1,473,986 | |
Mill City Mortgage Loan Trust(a) | ||||
CMO Series 2016-1 Class A1 | ||||
04/25/2057 | 2.500% | 160,844 | 162,293 | |
MRA Issuance Trust(a),(b) | ||||
CMO Series 2020-12 Class A1X | ||||
1-month USD LIBOR + 1.350% Floor 1.350% 07/15/2021 | 1.477% | 19,890,000 | 19,895,665 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
New Residential Mortgage LLC(a) | ||||
CMO Series 2018-FNT2 Class A | ||||
07/25/2054 | 3.790% | 1,005,305 | 1,006,178 | |
Subordinated CMO Series 2018-FNT1 Class D | ||||
05/25/2023 | 4.690% | 967,858 | 967,892 | |
New Residential Mortgage Loan Trust(a),(e) | ||||
CMO Series 2018-1A Class A1A | ||||
12/25/2057 | 4.000% | 10,512,407 | 11,245,825 | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 6,190,994 | 6,257,886 | |
Oaktown Re II Ltd.(a),(b) | ||||
CMO Series 2018-1A Class M1 | ||||
1-month USD LIBOR + 1.550% 07/25/2028 | 1.656% | 413,106 | 413,278 | |
Oaktown Re III Ltd.(a),(b) | ||||
CMO Series 2019-1A Class M1A | ||||
1-month USD LIBOR + 1.400% Floor 1.400% 07/25/2029 | 1.506% | 25,204 | 25,211 | |
CMO Series 2019-1A Class M1B | ||||
1-month USD LIBOR + 1.950% Floor 1.950% 07/25/2029 | 2.056% | 1,500,000 | 1,506,420 | |
Oaktown Re V Ltd.(a),(b) | ||||
Subordinated CMO Series 2020-2A Class M1A | ||||
1-month USD LIBOR + 2.400% Floor 2.400% 10/25/2030 | 2.543% | 661,142 | 661,721 | |
Oaktown Re VI Ltd.(a),(b) | ||||
CMO Series 2021-1A Class M1A | ||||
30-day Average SOFR + 1.650% Floor 1.650% 10/25/2033 | 1.660% | 5,500,000 | 5,528,684 | |
OBX Trust(a),(b) | ||||
CMO Series 2018-EXP1 Class 2A1A | ||||
1-month USD LIBOR + 0.850% Floor 0.850% 04/25/2048 | 0.956% | 63,476 | 63,472 | |
OSAT Trust(a),(e) | ||||
CMO Series 2020-RPL1 Class A1 | ||||
12/26/2059 | 3.072% | 1,333,080 | 1,341,818 | |
PMT Credit Risk Transfer Trust(a),(b) | ||||
CMO Series 2019-1R Class A | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 03/27/2024 | 2.109% | 978,975 | 948,218 | |
Series 2019-2R Class A | ||||
1-month USD LIBOR + 2.750% Floor 2.750% 05/27/2023 | 2.861% | 906,043 | 881,458 |
Columbia Bond Fund | Annual Report 2021 | 19 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
PNMAC GMSR Issuer Trust(a),(b) | ||||
CMO Series 2018-GT1 Class A | ||||
1-month USD LIBOR + 2.850% Floor 2.850% 02/25/2023 | 2.956% | 10,700,000 | 10,687,747 | |
CMO Series 2018-GT2 Class A | ||||
1-month USD LIBOR + 2.650% 08/25/2025 | 2.756% | 3,950,000 | 3,931,009 | |
Preston Ridge Partners Mortgage(a),(e) | ||||
CMO Series 2021-2 Class A1 | ||||
01/25/2026 | 2.115% | 3,526,188 | 3,521,562 | |
Preston Ridge Partners Mortgage LLC(a),(e) | ||||
CMO Series 2020-6 Class A1 | ||||
11/25/2025 | 2.363% | 13,112,409 | 13,114,639 | |
Preston Ridge Partners Mortgage LLC(a),(c),(e) | ||||
CMO Series 2021-3 Class A1 | ||||
04/25/2026 | 1.867% | 3,000,000 | 2,999,960 | |
Preston Ridge Partners Mortgage Trust(a),(e) | ||||
CMO Series 2021-1 Class A1 | ||||
01/25/2026 | 2.115% | 7,838,100 | 7,833,682 | |
Pretium Mortgage Credit Partners I LLC(a),(e) | ||||
CMO Series 2020-RPL1 Class A1 | ||||
05/27/2060 | 3.819% | 7,388,802 | 7,597,920 | |
PRPM LLC(a),(e) | ||||
CMO Series 2020-1A Class A1 | ||||
02/25/2025 | 2.981% | 3,334,567 | 3,365,487 | |
Radnor Re Ltd.(a),(b) | ||||
CMO Series 2019-2 Class M1B | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 06/25/2029 | 1.856% | 1,500,000 | 1,502,154 | |
CMO Series 2020-1 Class M1A | ||||
1-month USD LIBOR + 0.950% Floor 0.950% 02/25/2030 | 1.056% | 3,250,000 | 3,228,706 | |
Residential Mortgage Loan Trust(a),(e) | ||||
CMO Series 2019-3 Class A3 | ||||
09/25/2059 | 3.044% | 168,567 | 171,619 | |
Starwood Mortgage Residential Trust(a),(e) | ||||
CMO Series 2018-IMC2 Class A3 | ||||
10/25/2048 | 4.376% | 3,073,582 | 3,122,247 | |
CMO Series 2019-INV1 Class A3 | ||||
09/27/2049 | 2.916% | 3,305,327 | 3,368,726 | |
CMO Series 2020-2 Class A3 | ||||
04/25/2060 | 3.000% | 8,250,000 | 8,539,157 | |
CMO Series 2020-3 Class A3 | ||||
04/25/2065 | 2.591% | 5,000,000 | 5,162,521 | |
CMO Series 2020-INV1 Class A2 | ||||
11/25/2055 | 1.439% | 12,439,249 | 12,483,497 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-INV1 Class A3 | ||||
11/25/2055 | 1.593% | 4,708,358 | 4,724,967 | |
Station Place Securitization Trust(a),(b) | ||||
CMO Series 2021-WL1 Class A | ||||
1-month USD LIBOR + 0.650% Floor 0.650% 01/26/2054 | 0.779% | 5,500,000 | 5,504,072 | |
Stonnington Mortgage Trust(a),(d),(e),(j) | ||||
CMO Series 2020-1 Class A | ||||
07/28/2024 | 5.500% | 2,269,710 | 2,269,710 | |
Toorak Mortgage Corp., Ltd.(a),(e) | ||||
CMO Series 2018-1 Class A1 | ||||
08/25/2021 | 4.336% | 943,786 | 943,786 | |
Toorak Mortgage Corp., Ltd.(e) | ||||
CMO Series 2019-2 Class A1 | ||||
09/25/2022 | 3.721% | 1,935,000 | 1,946,394 | |
Towd Point Mortgage Trust(a),(e) | ||||
CMO Series 2016-2 Class A1 | ||||
08/25/2055 | 3.000% | 352,964 | 360,948 | |
CMO Series 2019-4 Class M1B | ||||
10/25/2059 | 3.000% | 10,000,000 | 10,411,700 | |
Traingle Re Ltd.(a),(b) | ||||
CMO Series 2021-1 Class M1A | ||||
1-month USD LIBOR + 1.700% Floor 1.700% 08/25/2033 | 1.807% | 5,100,000 | 5,091,055 | |
Triangle Re Ltd.(a),(b) | ||||
CMO Series 2020-1 Class M1A | ||||
1-month USD LIBOR + 3.000% Floor 3.000% 10/25/2030 | 3.118% | 5,500,000 | 5,541,318 | |
CMO Series 2021-2 Class M1A | ||||
1-month USD LIBOR + 2.050% Floor 2.050% 10/25/2033 | 2.160% | 6,000,000 | 6,044,893 | |
Vendee Mortgage Trust(e),(f) | ||||
CMO Series 1998-1 Class 2IO | ||||
03/15/2028 | 0.000% | 817,807 | 1 | |
CMO Series 1998-3 Class IO | ||||
03/15/2029 | 0.000% | 955,969 | 17 | |
Vericrest Opportunity Loan Trust(a),(e) | ||||
CMO Series 2020-NPL6 Class A1B | ||||
04/25/2050 | 4.949% | 1,400,000 | 1,400,125 | |
Verus Securitization Trust(a),(e) | ||||
CMO Series 2019-3 Class A3 | ||||
07/25/2059 | 3.040% | 2,582,787 | 2,619,208 | |
CMO Series 2019-INV3 Class A3 | ||||
11/25/2059 | 3.100% | 758,444 | 776,381 | |
CMO Series 2020-1 Class A3 | ||||
01/25/2060 | 2.724% | 1,472,191 | 1,491,873 |
20 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-4 Class A3 | ||||
06/25/2065 | 2.321% | 4,581,743 | 4,629,740 | |
Verus Securitization Trust(a) | ||||
CMO Series 2020-INV1 Class A2 | ||||
04/25/2060 | 3.035% | 4,000,000 | 4,105,134 | |
CMO Series 2020-INV1 Class A3 | ||||
04/25/2060 | 3.889% | 2,800,000 | 2,879,051 | |
Visio Trust(a),(e) | ||||
CMO Series 2019-1 Class A1 | ||||
06/25/2054 | 3.572% | 654,146 | 661,776 | |
Visio Trust(a) | ||||
CMO Series 2020-1R Class A3 | ||||
11/25/2055 | 1.873% | 4,402,194 | 4,367,049 | |
Visio Trust(a),(k) | ||||
CMO Series 2021-1R Class A1 | ||||
05/25/2056 | 1.280% | 5,000,000 | 4,999,975 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $470,353,500) | 472,517,530 | |||
U.S. Treasury Obligations 0.2% | ||||
U.S. Treasury | ||||
08/15/2048 | 3.000% | 530,000 | 608,092 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury(l) | ||||
STRIPS | ||||
02/15/2040 | 0.000% | 3,461,000 | 2,246,541 | |
Total U.S. Treasury Obligations (Cost $2,783,436) | 2,854,633 |
Options Purchased Puts 0.8% | ||||
Value ($) | ||||
(Cost $2,473,500) | 9,300,122 |
Money Market Funds 4.8% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.054%(m),(n) | 54,163,977 | 54,158,560 |
Total Money Market Funds (Cost $54,156,521) | 54,158,560 | |
Total Investments in Securities (Cost: $1,334,017,416) | 1,353,932,095 | |
Other Assets & Liabilities, Net | (219,885,078) | |
Net Assets | 1,134,047,017 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | 3,578 | 06/2021 | USD | 472,407,813 | — | (6,426,594) |
U.S. Treasury 5-Year Note | 390 | 06/2021 | USD | 48,335,625 | — | (406,034) |
U.S. Ultra Treasury Bond | 72 | 06/2021 | USD | 13,385,250 | — | (431,645) |
Total | — | (7,264,273) |
Put option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive 3-Month USD LIBOR BBA and pay exercise rate | Citi | USD | 40,000,000 | 40,000,000 | 1.00 | 09/30/2021 | 696,000 | 2,808,916 |
10-Year OTC interest rate swap with Citi to receive 3-Month USD LIBOR BBA and pay exercise rate | Citi | USD | 95,000,000 | 95,000,000 | 1.25 | 12/03/2021 | 1,472,500 | 5,162,043 |
10-Year OTC interest rate swap with Morgan Stanley to receive 3-Month USD LIBOR BBA and pay exercise rate | Morgan Stanley | USD | 25,000,000 | 25,000,000 | 1.25 | 11/18/2021 | 305,000 | 1,329,163 |
Total | 2,473,500 | 9,300,122 |
Columbia Bond Fund | Annual Report 2021 | 21 |
April 30, 2021
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
10-Year OTC interest rate swap with Morgan Stanley to receive 3-Month USD LIBOR BBA and pay exercise rate | Morgan Stanley | USD | (40,000,000) | (40,000,000) | 1.70 | 10/01/2021 | (553,000) | (681,608) |
Put option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive exercise rate and pay 3-Month USD LIBOR BBA | Citi | USD | (50,000,000) | (50,000,000) | 2.20 | 03/17/2022 | (935,000) | (711,330) |
Cleared interest rate swap contracts | |||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
3-Month USD LIBOR | Fixed rate of 1.635% | Receives Quarterly, Pays SemiAnnually | Morgan Stanley | 03/18/2031 | USD | 16,000,000 | (13,478) | — | — | — | (13,478) |
Reference index and values for swap contracts as of period end | ||
Reference index | Reference rate | |
3-Month USD LIBOR | London Interbank Offered Rate | 0.176% |
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2021, the total value of these securities amounted to $878,958,534, which represents 77.51% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of April 30, 2021. |
(c) | Represents a security purchased on a when-issued basis. |
(d) | Valuation based on significant unobservable inputs. |
(e) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of April 30, 2021. |
(f) | Represents interest only securities which have the right to receive the monthly interest payments on an underlying pool of mortgage loans. |
(g) | Non-income producing investment. |
(h) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of April 30, 2021. |
(i) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(j) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2021, the total value of these securities amounted to $21,998,281, which represents 1.94% of total net assets. |
(k) | Represents a security purchased on a forward commitment basis. |
(l) | Zero coupon bond. |
(m) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
(n) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.054% | ||||||||
28,606,621 | 841,329,694 | (815,766,963) | (10,792) | 54,158,560 | 2,678 | 55,541 | 54,163,977 |
22 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal Securities |
TBA | To Be Announced |
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 | ||||
Asset-Backed Securities — Non-Agency | — | 214,422,246 | 2,137,798 | 216,560,044 |
Commercial Mortgage-Backed Securities - Agency | — | 6,658,772 | — | 6,658,772 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 196,130,351 | — | 196,130,351 |
Common Stocks | ||||
Consumer Staples | — | 24 | — | 24 |
Financials | 1,268 | — | — | 1,268 |
Total Common Stocks | 1,268 | 24 | — | 1,292 |
Corporate Bonds & Notes | — | 162,637,431 | — | 162,637,431 |
Columbia Bond Fund | Annual Report 2021 | 23 |
April 30, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Residential Mortgage-Backed Securities - Agency | — | 233,113,360 | — | 233,113,360 |
Residential Mortgage-Backed Securities - Non-Agency | — | 413,603,735 | 58,913,795 | 472,517,530 |
U.S. Treasury Obligations | 608,092 | 2,246,541 | — | 2,854,633 |
Options Purchased Puts | — | 9,300,122 | — | 9,300,122 |
Money Market Funds | 54,158,560 | — | — | 54,158,560 |
Total Investments in Securities | 54,767,920 | 1,238,112,582 | 61,051,593 | 1,353,932,095 |
Investments in Derivatives | ||||
Liability | ||||
Futures Contracts | (7,264,273) | — | — | (7,264,273) |
Options Contracts Written | — | (1,392,938) | — | (1,392,938) |
Swap Contracts | — | (13,478) | — | (13,478) |
Total | 47,503,647 | 1,236,706,166 | 61,051,593 | 1,345,261,406 |
Balance as of 04/30/2020 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 04/30/2021 ($) | |
Asset-Backed Securities — Non-Agency | — | — | — | — | 2,481,000 | (343,202) | — | — | 2,137,798 |
Residential Mortgage-Backed Securities — Non-Agency | 2,878,774 | 203 | 4,235 | 60,830 | 65,533,221 | (6,685,417) | — | (2,878,051) | 58,913,795 |
Total | 2,878,774 | 203 | 4,235 | 60,830 | 68,014,221 | (7,028,619) | — | (2,878,051) | 61,051,593 |
24 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,277,387,395) | $1,290,473,413 |
Affiliated issuers (cost $54,156,521) | 54,158,560 |
Options purchased (cost $2,473,500) | 9,300,122 |
Cash collateral held at broker for: | |
TBA | 11,000 |
Margin deposits on: | |
Swap contracts | 821,031 |
Receivable for: | |
Capital shares sold | 1,798,928 |
Dividends | 2,657 |
Interest | 3,096,174 |
Foreign tax reclaims | 20,630 |
Variation margin for futures contracts | 205,453 |
Expense reimbursement due from Investment Manager | 4,324 |
Prepaid expenses | 17,057 |
Trustees’ deferred compensation plan | 242,862 |
Total assets | 1,360,152,211 |
Liabilities | |
Option contracts written, at value (premiums received $1,488,000) | 1,392,938 |
Payable for: | |
Investments purchased | 14,512,665 |
Investments purchased on a delayed delivery basis | 207,657,269 |
Capital shares purchased | 476,148 |
Distributions to shareholders | 1,663,796 |
Variation margin for swap contracts | 11,046 |
Management services fees | 15,368 |
Distribution and/or service fees | 939 |
Transfer agent fees | 20,097 |
Compensation of board members | 73,296 |
Compensation of chief compliance officer | 26 |
Other expenses | 38,744 |
Trustees’ deferred compensation plan | 242,862 |
Total liabilities | 226,105,194 |
Net assets applicable to outstanding capital stock | $1,134,047,017 |
Represented by | |
Paid in capital | 1,128,521,248 |
Total distributable earnings (loss) | 5,525,769 |
Total - representing net assets applicable to outstanding capital stock | $1,134,047,017 |
Columbia Bond Fund | Annual Report 2021 | 25 |
April 30, 2021
Class A | |
Net assets | $99,681,151 |
Shares outstanding | 2,817,526 |
Net asset value per share | $35.38 |
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) | $37.14 |
Advisor Class | |
Net assets | $2,123,398 |
Shares outstanding | 60,101 |
Net asset value per share | $35.33 |
Class C | |
Net assets | $7,679,831 |
Shares outstanding | 217,380 |
Net asset value per share | $35.33 |
Institutional Class | |
Net assets | $80,542,232 |
Shares outstanding | 2,276,827 |
Net asset value per share | $35.37 |
Institutional 2 Class | |
Net assets | $10,058,228 |
Shares outstanding | 285,112 |
Net asset value per share | $35.28 |
Institutional 3 Class | |
Net assets | $925,194,623 |
Shares outstanding | 26,097,083 |
Net asset value per share | $35.45 |
Class R | |
Net assets | $1,127,207 |
Shares outstanding | 31,864 |
Net asset value per share | $35.38 |
Class V | |
Net assets | $7,640,347 |
Shares outstanding | 216,364 |
Net asset value per share | $35.31 |
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 V shares) | $37.07 |
26 | Columbia Bond Fund | Annual Report 2021 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $25 |
Dividends — affiliated issuers | 55,541 |
Interest | 21,138,816 |
Total income | 21,194,382 |
Expenses: | |
Management services fees | 3,993,853 |
Distribution and/or service fees | |
Class A | 227,267 |
Class C | 91,926 |
Class R | 6,104 |
Class V | 11,838 |
Transfer agent fees | |
Class A | 112,271 |
Advisor Class | 2,619 |
Class C | 11,389 |
Institutional Class | 95,240 |
Institutional 2 Class | 4,855 |
Institutional 3 Class | 38,803 |
Class R | 1,516 |
Class V | 9,790 |
Compensation of board members | 52,457 |
Custodian fees | 26,844 |
Printing and postage fees | 35,358 |
Registration fees | 132,326 |
Audit fees | 49,500 |
Legal fees | 17,624 |
Interest on collateral | 1,955 |
Compensation of chief compliance officer | 247 |
Other | 29,052 |
Total expenses | 4,952,834 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (1,175,985) |
Fees waived by transfer agent | |
Institutional 3 Class | (9,329) |
Expense reduction | (720) |
Total net expenses | 3,766,800 |
Net investment income | 17,427,582 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 6,011,125 |
Investments — affiliated issuers | 2,678 |
Futures contracts | (1,820,606) |
Swap contracts | (2) |
Net realized gain | 4,193,195 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 14,748,399 |
Investments — affiliated issuers | (10,792) |
Futures contracts | (13,696,247) |
Options purchased | 6,826,622 |
Options contracts written | 95,062 |
Swap contracts | (13,478) |
Net change in unrealized appreciation (depreciation) | 7,949,566 |
Net realized and unrealized gain | 12,142,761 |
Net increase in net assets resulting from operations | $29,570,343 |
Columbia Bond Fund | Annual Report 2021 | 27 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $17,427,582 | $11,493,018 |
Net realized gain | 4,193,195 | 14,535,502 |
Net change in unrealized appreciation (depreciation) | 7,949,566 | 2,033,851 |
Net increase in net assets resulting from operations | 29,570,343 | 28,062,371 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (4,095,337) | (2,327,117) |
Advisor Class | (95,400) | (52,082) |
Class C | (341,919) | (163,425) |
Institutional Class | (3,622,047) | (2,429,802) |
Institutional 2 Class | (413,556) | (243,329) |
Institutional 3 Class | (26,231,751) | (11,223,898) |
Class R | (49,383) | (26,491) |
Class V | (350,296) | (324,290) |
Total distributions to shareholders | (35,199,689) | (16,790,434) |
Increase in net assets from capital stock activity | 704,393,822 | 48,307,507 |
Total increase in net assets | 698,764,476 | 59,579,444 |
Net assets at beginning of year | 435,282,541 | 375,703,097 |
Net assets at end of year | $1,134,047,017 | $435,282,541 |
28 | Columbia Bond Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares(a) | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 1,052,886 | 37,794,128 | 1,037,730 | 36,178,190 |
Distributions reinvested | 97,887 | 3,515,038 | 53,132 | 1,850,202 |
Redemptions | (494,210) | (17,570,141) | (398,581) | (13,839,503) |
Net increase | 656,563 | 23,739,025 | 692,281 | 24,188,889 |
Advisor Class | ||||
Subscriptions | 87,868 | 3,333,177 | 111,196 | 3,932,808 |
Distributions reinvested | 2,644 | 94,921 | 1,485 | 51,679 |
Redemptions | (78,522) | (2,998,903) | (86,405) | (3,064,920) |
Net increase | 11,990 | 429,195 | 26,276 | 919,567 |
Class C | ||||
Subscriptions | 115,398 | 4,142,956 | 187,579 | 6,556,459 |
Distributions reinvested | 9,177 | 329,004 | 4,183 | 145,278 |
Redemptions | (151,780) | (5,440,805) | (67,249) | (2,310,964) |
Net increase (decrease) | (27,205) | (968,845) | 124,513 | 4,390,773 |
Institutional Class | ||||
Subscriptions | 998,279 | 35,937,092 | 795,177 | 27,700,453 |
Distributions reinvested | 89,987 | 3,231,666 | 60,532 | 2,108,611 |
Redemptions | (779,462) | (27,865,249) | (400,556) | (13,936,157) |
Net increase | 308,804 | 11,303,509 | 455,153 | 15,872,907 |
Institutional 2 Class | ||||
Subscriptions | 140,010 | 5,049,877 | 166,219 | 5,823,625 |
Distributions reinvested | 11,552 | 413,556 | 6,992 | 242,880 |
Redemptions | (40,049) | (1,433,710) | (108,913) | (3,809,665) |
Net increase | 111,513 | 4,029,723 | 64,298 | 2,256,840 |
Institutional 3 Class | ||||
Subscriptions | 19,970,295 | 719,666,240 | 580,956 | 20,209,242 |
Distributions reinvested | 320,691 | 11,517,196 | 3,139 | 109,548 |
Redemptions | (1,796,093) | (64,570,215) | (575,207) | (19,826,805) |
Net increase | 18,494,893 | 666,613,221 | 8,888 | 491,985 |
Class R | ||||
Subscriptions | 1,413 | 50,793 | 20,286 | 721,713 |
Distributions reinvested | 1,373 | 49,298 | 762 | 26,481 |
Redemptions | (6,040) | (219,028) | (6,024) | (210,839) |
Net increase (decrease) | (3,254) | (118,937) | 15,024 | 537,355 |
Class V | ||||
Subscriptions | 4,820 | 169,851 | 1,626 | 56,662 |
Distributions reinvested | 7,219 | 258,820 | 6,946 | 241,426 |
Redemptions | (29,619) | (1,061,740) | (18,639) | (648,897) |
Net decrease | (17,580) | (633,069) | (10,067) | (350,809) |
Total net increase | 19,535,724 | 704,393,822 | 1,376,366 | 48,307,507 |
(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 Bond Fund | Annual Report 2021 | 29 |
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 4/30/2021 | $34.88 | 0.69 | 1.39 | 2.08 | (0.72) | (0.86) | (1.58) |
Year Ended 4/30/2020 | $33.84 | 0.88 | 1.48 | 2.36 | (0.88) | (0.44) | (1.32) |
Year Ended 4/30/2019 | $33.13 | 0.92 | 0.67 | 1.59 | (0.88) | — | (0.88) |
Year Ended 4/30/2018 | $33.87 | 0.64 | (0.74) | (0.10) | (0.60) | (0.04) | (0.64) |
Year Ended 4/30/2017 | $34.89 | 0.64 | (0.22) | 0.42 | (0.60) | (0.84) | (1.44) |
Advisor Class(c) | |||||||
Year Ended 4/30/2021 | $34.83 | 0.79 | 1.38 | 2.17 | (0.81) | (0.86) | (1.67) |
Year Ended 4/30/2020 | $33.80 | 0.96 | 1.47 | 2.43 | (0.96) | (0.44) | (1.40) |
Year Ended 4/30/2019 | $33.09 | 1.00 | 0.71 | 1.71 | (1.00) | — | (1.00) |
Year Ended 4/30/2018 | $33.85 | 0.72 | (0.72) | 0.00(g) | (0.72) | (0.04) | (0.76) |
Year Ended 4/30/2017 | $34.87 | 0.72 | (0.22) | 0.50 | (0.68) | (0.84) | (1.52) |
Class C(c) | |||||||
Year Ended 4/30/2021 | $34.83 | 0.43 | 1.38 | 1.81 | (0.45) | (0.86) | (1.31) |
Year Ended 4/30/2020 | $33.79 | 0.60 | 1.52 | 2.12 | (0.64) | (0.44) | (1.08) |
Year Ended 4/30/2019 | $33.08 | 0.64 | 0.71 | 1.35 | (0.64) | — | (0.64) |
Year Ended 4/30/2018 | $33.84 | 0.36 | (0.72) | (0.36) | (0.36) | (0.04) | (0.40) |
Year Ended 4/30/2017 | $34.85 | 0.40 | (0.21) | 0.19 | (0.36) | (0.84) | (1.20) |
Institutional Class(c) | |||||||
Year Ended 4/30/2021 | $34.88 | 0.78 | 1.38 | 2.16 | (0.81) | (0.86) | (1.67) |
Year Ended 4/30/2020 | $33.83 | 0.96 | 1.49 | 2.45 | (0.96) | (0.44) | (1.40) |
Year Ended 4/30/2019 | $33.13 | 1.00 | 0.70 | 1.70 | (1.00) | — | (1.00) |
Year Ended 4/30/2018 | $33.87 | 0.60 | (0.58) | 0.02 | (0.72) | (0.04) | (0.76) |
Year Ended 4/30/2017 | $34.89 | 0.72 | (0.22) | 0.50 | (0.68) | (0.84) | (1.52) |
Institutional 2 Class(c) | |||||||
Year Ended 4/30/2021 | $34.78 | 0.80 | 1.39 | 2.19 | (0.83) | (0.86) | (1.69) |
Year Ended 4/30/2020 | $33.74 | 1.00 | 1.48 | 2.48 | (1.00) | (0.44) | (1.44) |
Year Ended 4/30/2019 | $33.02 | 1.04 | 0.68 | 1.72 | (1.00) | — | (1.00) |
Year Ended 4/30/2018 | $33.78 | 0.76 | (0.76) | 0.00(g) | (0.72) | (0.04) | (0.76) |
Year Ended 4/30/2017 | $34.79 | 0.68 | (0.13) | 0.55 | (0.72) | (0.84) | (1.56) |
Institutional 3 Class(c) | |||||||
Year Ended 4/30/2021 | $34.95 | 0.79 | 1.42 | 2.21 | (0.85) | (0.86) | (1.71) |
Year Ended 4/30/2020 | $33.90 | 1.00 | 1.53 | 2.53 | (1.04) | (0.44) | (1.48) |
Year Ended 4/30/2019 | $33.19 | 1.04 | 0.71 | 1.75 | (1.04) | — | (1.04) |
Year Ended 4/30/2018 | $33.93 | 0.84 | (0.78) | 0.06 | (0.76) | (0.04) | (0.80) |
Year Ended 4/30/2017 | $34.94 | 0.76 | (0.17) | 0.59 | (0.76) | (0.84) | (1.60) |
30 | Columbia Bond 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 4/30/2021 | $35.38 | 5.96% | 0.91%(d) | 0.77%(d),(e) | 1.92% | 227% | $99,681 |
Year Ended 4/30/2020 | $34.88 | 7.05% | 0.97% | 0.80%(e) | 2.50% | 229% | $75,375 |
Year Ended 4/30/2019 | $33.84 | 4.98% | 1.01% | 0.83%(e) | 2.73% | 236% | $49,696 |
Year Ended 4/30/2018 | $33.13 | (0.33%) | 1.00% | 0.86%(e) | 1.84% | 257% | $50,845 |
Year Ended 4/30/2017 | $33.87 | 1.34% | 0.98%(f) | 0.82%(e),(f) | 1.86% | 375% | $52,029 |
Advisor Class(c) | |||||||
Year Ended 4/30/2021 | $35.33 | 6.20% | 0.66%(d) | 0.52%(d),(e) | 2.19% | 227% | $2,123 |
Year Ended 4/30/2020 | $34.83 | 7.32% | 0.71% | 0.55%(e) | 2.74% | 229% | $1,676 |
Year Ended 4/30/2019 | $33.80 | 5.24% | 0.76% | 0.58%(e) | 3.03% | 236% | $738 |
Year Ended 4/30/2018 | $33.09 | (0.08%) | 0.75% | 0.61%(e) | 2.09% | 257% | $497 |
Year Ended 4/30/2017 | $33.85 | 1.48% | 0.73%(f) | 0.57%(e),(f) | 2.10% | 375% | $516 |
Class C(c) | |||||||
Year Ended 4/30/2021 | $35.33 | 5.15% | 1.66%(d) | 1.52%(d),(e) | 1.19% | 227% | $7,680 |
Year Ended 4/30/2020 | $34.83 | 6.26% | 1.72% | 1.55%(e) | 1.74% | 229% | $8,519 |
Year Ended 4/30/2019 | $33.79 | 4.20% | 1.76% | 1.59%(e) | 1.96% | 236% | $4,058 |
Year Ended 4/30/2018 | $33.08 | (1.08%) | 1.75% | 1.61%(e) | 1.04% | 257% | $6,001 |
Year Ended 4/30/2017 | $33.84 | 0.59% | 1.73%(f) | 1.57%(e),(f) | 1.11% | 375% | $9,461 |
Institutional Class(c) | |||||||
Year Ended 4/30/2021 | $35.37 | 6.19% | 0.66%(d) | 0.52%(d),(e) | 2.18% | 227% | $80,542 |
Year Ended 4/30/2020 | $34.88 | 7.32% | 0.72% | 0.55%(e) | 2.76% | 229% | $68,640 |
Year Ended 4/30/2019 | $33.83 | 5.24% | 0.76% | 0.58%(e) | 2.97% | 236% | $51,185 |
Year Ended 4/30/2018 | $33.13 | (0.08%) | 0.74% | 0.61%(e) | 1.74% | 257% | $56,556 |
Year Ended 4/30/2017 | $33.87 | 1.60% | 0.73%(f) | 0.58%(e),(f) | 2.11% | 375% | $369,017 |
Institutional 2 Class(c) | |||||||
Year Ended 4/30/2021 | $35.28 | 6.24% | 0.60%(d) | 0.45%(d) | 2.23% | 227% | $10,058 |
Year Ended 4/30/2020 | $34.78 | 7.55% | 0.62% | 0.46% | 2.83% | 229% | $6,038 |
Year Ended 4/30/2019 | $33.74 | 5.24% | 0.64% | 0.47% | 3.20% | 236% | $3,687 |
Year Ended 4/30/2018 | $33.02 | 0.13% | 0.64% | 0.51% | 2.20% | 257% | $864 |
Year Ended 4/30/2017 | $33.78 | 1.58% | 0.63%(f) | 0.49%(f) | 1.99% | 375% | $735 |
Institutional 3 Class(c) | |||||||
Year Ended 4/30/2021 | $35.45 | 6.31% | 0.55%(d) | 0.40%(d) | 2.22% | 227% | $925,195 |
Year Ended 4/30/2020 | $34.95 | 7.47% | 0.57% | 0.40% | 2.91% | 229% | $265,665 |
Year Ended 4/30/2019 | $33.90 | 5.41% | 0.58% | 0.42% | 3.14% | 236% | $257,417 |
Year Ended 4/30/2018 | $33.19 | 0.19% | 0.59% | 0.46% | 2.46% | 257% | $284,876 |
Year Ended 4/30/2017 | $33.93 | 1.63% | 0.54%(f) | 0.42%(f) | 2.26% | 375% | $29,756 |
Columbia Bond Fund | Annual Report 2021 | 31 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class R(c) | |||||||
Year Ended 4/30/2021 | $34.88 | 0.61 | 1.38 | 1.99 | (0.63) | (0.86) | (1.49) |
Year Ended 4/30/2020 | $33.83 | 0.80 | 1.49 | 2.29 | (0.80) | (0.44) | (1.24) |
Year Ended 4/30/2019 | $33.12 | 0.84 | 0.67 | 1.51 | (0.80) | — | (0.80) |
Year Ended 4/30/2018 | $33.88 | 0.52 | (0.72) | (0.20) | (0.52) | (0.04) | (0.56) |
Year Ended 4/30/2017 | $34.89 | 0.56 | (0.21) | 0.35 | (0.52) | (0.84) | (1.36) |
Class V(c) | |||||||
Year Ended 4/30/2021 | $34.82 | 0.73 | 1.37 | 2.10 | (0.75) | (0.86) | (1.61) |
Year Ended 4/30/2020 | $33.78 | 0.92 | 1.48 | 2.40 | (0.92) | (0.44) | (1.36) |
Year Ended 4/30/2019 | $33.07 | 0.92 | 0.71 | 1.63 | (0.92) | — | (0.92) |
Year Ended 4/30/2018 | $33.82 | 0.64 | (0.71) | (0.07) | (0.64) | (0.04) | (0.68) |
Year Ended 4/30/2017 | $34.83 | 0.68 | (0.21) | 0.47 | (0.64) | (0.84) | (1.48) |
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) | 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 on collateral expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | 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 | Institutional Class | Institutional 2 Class | Institutional 3 Class | Class R | Class V |
04/30/2017 | 0.04% | 0.04% | 0.04% | 0.03% | 0.02% | 0.03% | 0.03% | 0.03% |
(g) | Rounds to zero. |
32 | Columbia Bond 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 R(c) | |||||||
Year Ended 4/30/2021 | $35.38 | 5.70% | 1.16%(d) | 1.02%(d),(e) | 1.69% | 227% | $1,127 |
Year Ended 4/30/2020 | $34.88 | 6.79% | 1.22% | 1.05%(e) | 2.26% | 229% | $1,225 |
Year Ended 4/30/2019 | $33.83 | 4.71% | 1.26% | 1.08%(e) | 2.51% | 236% | $680 |
Year Ended 4/30/2018 | $33.12 | (0.58%) | 1.25% | 1.11%(e) | 1.54% | 257% | $550 |
Year Ended 4/30/2017 | $33.88 | 1.09% | 1.23%(f) | 1.08%(e),(f) | 1.62% | 375% | $922 |
Class V(c) | |||||||
Year Ended 4/30/2021 | $35.31 | 6.10% | 0.81%(d) | 0.67%(d),(e) | 2.04% | 227% | $7,640 |
Year Ended 4/30/2020 | $34.82 | 7.17% | 0.87% | 0.70%(e) | 2.62% | 229% | $8,145 |
Year Ended 4/30/2019 | $33.78 | 4.96% | 0.91% | 0.73%(e) | 2.83% | 236% | $8,242 |
Year Ended 4/30/2018 | $33.07 | (0.23%) | 0.90% | 0.76%(e) | 1.92% | 257% | $8,934 |
Year Ended 4/30/2017 | $33.82 | 1.44% | 0.88%(f) | 0.73%(e),(f) | 1.95% | 375% | $10,139 |
Columbia Bond Fund | Annual Report 2021 | 33 |
April 30, 2021
34 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Bond Fund | Annual Report 2021 | 35 |
April 30, 2021
36 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Bond Fund | Annual Report 2021 | 37 |
April 30, 2021
38 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Investments, at value — Options purchased | 9,300,122 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 7,264,273* |
Interest rate risk | Options contracts written, at value | 1,392,938 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | 13,478* |
Total | 8,670,689 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | |||
Risk exposure category | Futures contracts ($) | Swap contracts ($) | Total ($) |
Interest rate risk | (1,820,606) | (2) | (1,820,608) |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | |||||
Risk exposure category | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Swap contracts ($) | Total ($) |
Interest rate risk | (13,696,247) | 95,062 | 6,826,622 | (13,478) | (6,788,041) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 301,204,461 |
Derivative instrument | Average value ($) |
Options contracts — purchased | 3,613,975* |
Options contracts — written | (158,670)** |
Derivative instrument | Average unrealized appreciation ($)** | Average unrealized depreciation ($)** |
Interest rate swap contracts | 9,655 | (4,338) |
* | Based on the ending quarterly outstanding amounts for the year ended April 30, 2021. |
** | Based on the ending daily outstanding amounts for the year ended April 30, 2021. |
Columbia Bond Fund | Annual Report 2021 | 39 |
April 30, 2021
40 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Citi ($) | Morgan Stanley (a) ($) | Morgan Stanley (a) ($) | Total ($) | |
Assets | ||||
Options purchased puts | 7,970,959 | 1,329,163 | - | 9,300,122 |
Liabilities | ||||
Centrally cleared interest rate swap contracts (b) | - | - | 11,046 | 11,046 |
Options contracts written | 711,330 | 681,608 | - | 1,392,938 |
Total liabilities | 711,330 | 681,608 | 11,046 | 1,403,984 |
Total financial and derivative net assets | 7,259,629 | 647,555 | (11,046) | 7,896,138 |
Total collateral received (pledged) (c) | 6,908,000 | 647,555 | - | 7,555,555 |
Net amount (d) | 351,629 | - | (11,046) | 340,583 |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | Centrally cleared swaps are included within payable/receivable for variation margin on the Statement of Assets and Liabilities. |
(c) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(d) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Bond Fund | Annual Report 2021 | 41 |
April 30, 2021
42 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Bond Fund | Annual Report 2021 | 43 |
April 30, 2021
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.00 |
Class R | 0.12 |
Class V | 0.12 |
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00(a) | 146,409 |
Class C | — | 1.00(b) | 168 |
Class V | 4.75 | 0.50 - 1.00(a) | 48 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
44 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.78% | 0.81% |
Advisor Class | 0.53 | 0.56 |
Class C | 1.53 | 1.56 |
Institutional Class | 0.53 | 0.56 |
Institutional 2 Class | 0.45 | 0.46 |
Institutional 3 Class | 0.40 | 0.40 |
Class R | 1.03 | 1.06 |
Class V | 0.68 | 0.71 |
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
61,704 | (61,704) | — |
Columbia Bond Fund | Annual Report 2021 | 45 |
April 30, 2021
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
28,415,979 | 6,783,710 | 35,199,689 | 14,650,590 | 2,139,844 | 16,790,434 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,233,399 | — | — | 19,763,382 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,325,498,024 | 25,667,445 | (5,904,063) | 19,763,382 |
Late year ordinary losses ($) | Post-October capital losses ($) |
— | 13,492,251 |
46 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Bond Fund | Annual Report 2021 | 47 |
April 30, 2021
48 | Columbia Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Bond Fund | Annual Report 2021 | 49 |
April 30, 2021
50 | Columbia Bond Fund | Annual Report 2021 |
Columbia Bond Fund | Annual Report 2021 | 51 |
Capital gain dividend | Section 163(j) Interest Dividends |
$867,516 | 60.64% |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | Former Chairman of the Board, NICSA (National Investment Company Services Association) (Executive Committee, Nominating Committee and Governance Committee), 2014-2016; former Director, Intech Investment Management, 2011-2016; former Board Member, Metro Denver Chamber of Commerce, 2015-2016; former Advisory Board Member, University of Colorado Business School, 2015-2018 |
52 | Columbia Bond 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Bond 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 |
Patricia M. Flynn c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 |
54 | Columbia Bond 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 Bond Fund | Annual Report 2021 | 55 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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). |
56 | Columbia Bond 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
Columbia Bond Fund | Annual Report 2021 | 57 |
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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
58 | Columbia Bond Fund | Annual Report 2021 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
Columbia Bond Fund | Annual Report 2021 | 59 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2021
3 | |
5 | |
7 | |
8 | |
14 | |
16 | |
17 | |
20 | |
24 | |
34 | |
35 | |
35 | |
41 | |
42 |
Average annual total returns (%) (for the period ended April 30, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/25/86 | 84.29 | 13.74 | 9.75 |
Including sales charges | 73.70 | 12.40 | 9.10 | ||
Advisor Class* | 11/08/12 | 84.74 | 14.02 | 9.99 | |
Class C | Excluding sales charges | 01/15/96 | 82.90 | 12.89 | 8.93 |
Including sales charges | 81.90 | 12.89 | 8.93 | ||
Institutional Class | 07/31/95 | 84.72 | 14.02 | 10.03 | |
Institutional 2 Class* | 11/08/12 | 84.97 | 14.17 | 10.12 | |
Institutional 3 Class | 07/15/09 | 85.03 | 14.23 | 10.24 | |
Class R | 09/27/10 | 83.85 | 13.45 | 9.49 | |
Russell 2000 Value Index | 78.96 | 13.54 | 10.10 |
* | 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 Small Cap Value Fund I | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at April 30, 2021) | |
Common Stocks | 98.5 |
Exchange-Traded Equity Funds | 0.3 |
Money Market Funds | 1.2 |
Total | 100.0 |
Equity sector breakdown (%) (at April 30, 2021) | |
Communication Services | 2.2 |
Consumer Discretionary | 13.3 |
Consumer Staples | 3.1 |
Energy | 4.7 |
Financials | 31.7 |
Health Care | 5.2 |
Industrials | 16.1 |
Information Technology | 7.0 |
Materials | 9.7 |
Real Estate | 6.5 |
Utilities | 0.5 |
Total | 100.0 |
4 | Columbia Small Cap Value Fund I | Annual Report 2021 |
• | The Fund’s outperformance of the benchmark during the period was driven primarily by allocation decisions, most notably underweights to the utilities and real estate sectors, and overweights to the materials sector. |
• | Stock selection, particularly within the materials and industrials sectors, was a secondary contributor to relative results. |
• | Capstone Mining Corp., a copper miner, delivered strong results and benefited from higher demand for copper in the face of supply shortages. |
• | Thor Industries, Inc., the largest manufacturer of RVs in the US, benefited as stay-at-home orders across the country hastened a boom in outdoor recreation. The company graduated out of the small-cap space into the mid-cap space and was no longer viable as a portfolio holding. |
• | Dycom Industries, Inc., which provides contracting services to the telecom and infrastructure industry, benefited from the increased demand for communication services such as broadband as much of the country transitioned to stay-at-home as a result of the COVID-19 pandemic. |
• | Within the industrials sector, the Fund’s holding in Resideo Technologies, Inc., which specializes in home automation solutions for smart home systems, contributed strongly to Fund results. Resideo’s stock price benefited as consumers shifted their spending to home improvements during the stay-at-home environment resulting from the COVID-19 pandemic. |
• | Within the materials sector, Louisiana-Pacific Corp., a manufacturer of building materials, saw its stock price rise during the period, also benefiting from strength in the U.S. housing market and increased consumer focus on home improvements during the stay-at-home environment of 2020. |
• | Discount multiline retailer Big Lots, in the consumer discretionary sector, also contributed to Fund results. The company gained strength during the period, benefiting from its transformation plan focused on driving top-line growth, cost containment and enhancement in infrastructure. |
• | Stock selection within the health care, consumer staples and energy sectors detracted most from the Fund’s performance relative to the benchmark. |
• | Fresh Del Monte Produce was negatively impacted by the shift away from food service, as demand by restaurants for fresh ingredients declined significantly in the wake of the COVID-19 pandemic shutdowns. |
Columbia Small Cap Value Fund I | Annual Report 2021 | 5 |
• | Delek U.S. Holdings, Inc., a downstream energy company, suffered from the retrenchment in the energy market caused by a reduction of mobility due to the COVID-19 pandemic. Delek was sold from the portfolio during the first half of the period. |
• | An out-of-benchmark holding in Quotient Ltd., a commercial-stage blood diagnostics company in the health care sector, saw its stock price decline during the year. |
• | Not owning positions in Penn National Gaming, Novavax and Game Stop, all of which returned strongly for the benchmark, also weighed on the Fund’s performance compared to the benchmark during the period. |
6 | Columbia Small Cap Value Fund I | Annual Report 2021 |
(Unaudited)
November 1, 2020 — April 30, 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 | 1,609.50 | 1,018.45 | 8.46 | 6.54 | 1.30 |
Advisor Class | 1,000.00 | 1,000.00 | 1,611.70 | 1,019.70 | 6.84 | 5.29 | 1.05 |
Class C | 1,000.00 | 1,000.00 | 1,604.00 | 1,014.71 | 13.31 | 10.30 | 2.05 |
Institutional Class | 1,000.00 | 1,000.00 | 1,611.70 | 1,019.75 | 6.77 | 5.24 | 1.04 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,612.40 | 1,020.29 | 6.06 | 4.68 | 0.93 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,613.00 | 1,020.54 | 5.73 | 4.43 | 0.88 |
Class R | 1,000.00 | 1,000.00 | 1,607.80 | 1,017.20 | 10.08 | 7.80 | 1.55 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 7 |
April 30, 2021
Common Stocks 98.6% | ||
Issuer | Shares | Value ($) |
Communication Services 2.1% | ||
Diversified Telecommunication Services 0.3% | ||
Liberty Latin America Ltd., Class C(a) | 206,120 | 2,875,374 |
Entertainment 0.2% | ||
Lions Gate Entertainment Corp., Class B(a) | 194,114 | 2,445,836 |
Interactive Media & Services 0.1% | ||
Trivago NV, ADR(a) | 493,449 | 1,766,548 |
Media 0.6% | ||
Criteo SA, ADR(a) | 166,790 | 6,626,567 |
Wireless Telecommunication Services 0.9% | ||
Shenandoah Telecommunications Co. | 57,040 | 2,695,710 |
Telephone and Data Systems, Inc. | 301,610 | 6,930,998 |
Total | 9,626,708 | |
Total Communication Services | 23,341,033 | |
Consumer Discretionary 13.1% | ||
Auto Components 1.6% | ||
Gentherm, Inc.(a) | 84,376 | 6,007,571 |
Modine Manufacturing Co.(a) | 285,887 | 4,654,240 |
Visteon Corp.(a) | 54,440 | 6,631,337 |
Total | 17,293,148 | |
Distributors 0.3% | ||
Educational Development Corp. | 187,164 | 3,327,776 |
Diversified Consumer Services 1.0% | ||
American Public Education, Inc.(a) | 125,222 | 3,814,262 |
Carriage Services, Inc. | 182,400 | 6,781,632 |
Total | 10,595,894 | |
Household Durables 4.2% | ||
Cavco Industries, Inc.(a) | 20,257 | 4,242,423 |
Ethan Allen Interiors, Inc. | 145,413 | 4,174,807 |
Hamilton Beach Brands Holding Co. | 207,182 | 4,040,049 |
Hooker Furniture Corp. | 106,400 | 3,991,064 |
Legacy Housing Corp.(a) | 162,823 | 2,908,019 |
Lifetime Brands, Inc. | 186,584 | 2,705,468 |
Meritage Homes Corp.(a) | 87,027 | 9,258,803 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Skyline Champion Corp.(a) | 138,640 | 6,159,775 |
Tri Pointe Homes, Inc.(a) | 342,909 | 8,168,092 |
Total | 45,648,500 | |
Internet & Direct Marketing Retail 0.4% | ||
1-800-Flowers.com, Inc., Class A(a) | 148,980 | 4,763,635 |
Leisure Products 0.6% | ||
Malibu Boats, Inc., Class A(a) | 71,402 | 5,952,071 |
Multiline Retail 0.8% | ||
Big Lots, Inc. | 129,032 | 8,895,466 |
Specialty Retail 1.5% | ||
Aaron’s Co., Inc. (The) | 193,678 | 5,982,714 |
Leslie’s, Inc.(a) | 179,734 | 5,108,040 |
Urban Outfitters, Inc.(a) | 135,670 | 4,870,553 |
Total | 15,961,307 | |
Textiles, Apparel & Luxury Goods 2.7% | ||
Canada Goose Holdings, Inc.(a) | 117,880 | 4,982,788 |
Capri Holdings Ltd.(a) | 66,417 | 3,658,248 |
Culp, Inc. | 212,365 | 3,004,965 |
Movado Group, Inc. | 201,362 | 6,316,726 |
Skechers U.S.A., Inc., Class A(a) | 95,670 | 4,639,038 |
Steven Madden Ltd. | 174,240 | 7,086,341 |
Total | 29,688,106 | |
Total Consumer Discretionary | 142,125,903 | |
Consumer Staples 3.0% | ||
Beverages 0.6% | ||
MGP Ingredients, Inc. | 112,753 | 6,776,456 |
Food & Staples Retailing 1.2% | ||
Andersons, Inc. (The) | 211,875 | 6,085,050 |
Sprouts Farmers Market, Inc.(a) | 284,990 | 7,298,594 |
Total | 13,383,644 | |
Food Products 0.8% | ||
Fresh Del Monte Produce, Inc. | 309,681 | 8,733,004 |
Personal Products 0.4% | ||
Inter Parfums, Inc. | 54,802 | 4,033,427 |
Total Consumer Staples | 32,926,531 |
8 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 4.7% | ||
Energy Equipment & Services 3.2% | ||
ChampionX Corp.(a) | 407,610 | 8,563,886 |
Core Laboratories NV | 122,450 | 3,450,641 |
Dawson Geophysical Co.(a) | 757,260 | 1,741,698 |
Frank’s International NV(a) | 776,078 | 2,522,253 |
Natural Gas Services Group, Inc.(a) | 242,770 | 2,184,930 |
Newpark Resources, Inc.(a) | 1,255,580 | 3,565,847 |
Pason Systems, Inc. | 379,273 | 2,900,514 |
Profire Energy, Inc.(a) | 934,907 | 1,140,587 |
ProPetro Holding Corp.(a) | 264,750 | 2,549,542 |
TechnipFMC PLC(a) | 742,035 | 5,491,059 |
Total | 34,110,957 | |
Oil, Gas & Consumable Fuels 1.5% | ||
HollyFrontier Corp. | 135,010 | 4,725,350 |
Range Resources Corp.(a) | 575,520 | 5,651,606 |
Talos Energy, Inc.(a) | 315,850 | 3,534,362 |
W&T Offshore, Inc.(a) | 785,980 | 2,585,874 |
Total | 16,497,192 | |
Total Energy | 50,608,149 | |
Financials 31.3% | ||
Banks 18.9% | ||
Altabancorp | 135,662 | 5,663,888 |
Ameris Bancorp | 212,314 | 11,484,064 |
Atlantic Union Bankshares Corp. | 147,474 | 5,702,820 |
BancFirst Corp. | 114,564 | 7,963,344 |
BankUnited, Inc. | 270,386 | 12,602,691 |
Banner Corp. | 121,551 | 6,908,959 |
Brookline Bancorp, Inc. | 376,063 | 6,054,614 |
Capital Bancorp, Inc.(a) | 196,065 | 4,307,548 |
Capital City Bank Group, Inc. | 160,901 | 4,065,968 |
Central Pacific Financial Corp. | 143,081 | 3,856,033 |
Columbia Banking System, Inc. | 191,919 | 8,354,234 |
Community Trust Bancorp, Inc. | 103,837 | 4,626,977 |
First BanCorp | 934,046 | 11,740,958 |
First BanCorp | 153,761 | 6,519,466 |
First Community Corp. | 237,149 | 4,363,542 |
First Financial Corp. | 135,620 | 5,999,829 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
First Hawaiian, Inc. | 177,990 | 4,887,605 |
First of Long Island Corp. (The) | 221,737 | 4,720,781 |
Heritage Financial Corp. | 196,984 | 5,535,250 |
Hilltop Holdings, Inc. | 253,390 | 8,919,328 |
National Bank Holdings Corp., Class A | 129,470 | 5,165,853 |
Northrim BanCorp, Inc. | 177,183 | 7,556,855 |
OFG Bancorp | 311,201 | 7,372,352 |
Popular, Inc. | 223,669 | 16,542,559 |
Sierra Bancorp | 97,908 | 2,650,370 |
Southern First Bancshares, Inc.(a) | 108,993 | 5,613,140 |
Spirit of Texas Bancshares, Inc. | 227,554 | 5,272,426 |
Towne Bank | 262,594 | 8,135,162 |
UMB Financial Corp. | 135,656 | 13,162,702 |
Total | 205,749,318 | |
Capital Markets 0.6% | ||
StoneX Group, Inc.(a) | 101,215 | 6,429,177 |
Consumer Finance 1.6% | ||
Ezcorp, Inc., Class A(a) | 1,097,780 | 6,180,501 |
FirstCash, Inc. | 57,058 | 4,109,888 |
PROG Holdings, Inc. | 127,807 | 6,510,489 |
Total | 16,800,878 | |
Insurance 4.8% | ||
American Equity Investment Life Holding Co. | 252,461 | 7,821,242 |
American National Group, Inc. | 70,527 | 7,994,235 |
Crawford & Co., Class A | 290,514 | 3,047,492 |
eHealth, Inc.(a) | 56,810 | 4,018,739 |
Employers Holdings, Inc. | 125,854 | 5,094,570 |
Global Indemnity Group LLC | 243,897 | 7,014,478 |
Heritage Insurance Holdings, Inc. | 316,502 | 2,883,333 |
Horace Mann Educators Corp. | 85,481 | 3,427,788 |
National Western Life Group, Inc., Class A | 18,914 | 4,336,980 |
ProAssurance Corp. | 273,730 | 6,843,250 |
Total | 52,482,107 | |
Mortgage Real Estate Investment Trusts (REITS) 0.8% | ||
Blackstone Mortgage Trust, Inc. | 145,200 | 4,717,548 |
Starwood Property Trust, Inc. | 165,655 | 4,277,212 |
Total | 8,994,760 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 9 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Thrifts & Mortgage Finance 4.6% | ||
HomeStreet, Inc. | 137,691 | 5,623,300 |
MGIC Investment Corp. | 649,855 | 9,903,790 |
NMI Holdings, Inc., Class A(a) | 265,267 | 6,854,499 |
Provident Financial Holdings, Inc. | 188,398 | 3,063,352 |
Radian Group, Inc. | 505,740 | 12,461,434 |
Washington Federal, Inc. | 252,073 | 8,204,976 |
Western New England Bancorp, Inc. | 441,100 | 3,572,910 |
Total | 49,684,261 | |
Total Financials | 340,140,501 | |
Health Care 5.1% | ||
Biotechnology 2.3% | ||
ACADIA Pharmaceuticals, Inc.(a) | 310,803 | 6,390,110 |
Atara Biotherapeutics, Inc.(a) | 246,750 | 3,469,305 |
bluebird bio, Inc.(a) | 145,010 | 4,350,300 |
Coherus Biosciences, Inc.(a) | 287,477 | 4,254,660 |
Spero Therapeutics, Inc.(a) | 201,823 | 2,777,084 |
uniQure NV(a) | 103,730 | 3,347,367 |
Total | 24,588,826 | |
Health Care Equipment & Supplies 0.8% | ||
Inogen, Inc.(a) | 110,280 | 7,211,209 |
Quotient Ltd.(a) | 294,373 | 1,153,942 |
Total | 8,365,151 | |
Health Care Providers & Services 0.4% | ||
Triple-S Management Corp., Class B(a) | 204,104 | 4,839,306 |
Pharmaceuticals 1.6% | ||
Aerie Pharmaceuticals, Inc.(a) | 256,200 | 4,388,706 |
ANI Pharmaceuticals, Inc.(a) | 91,834 | 3,056,235 |
Supernus Pharmaceuticals, Inc.(a) | 159,215 | 4,848,097 |
Taro Pharmaceutical Industries Ltd.(a) | 33,433 | 2,474,711 |
TherapeuticsMD, Inc.(a) | 2,187,420 | 2,646,778 |
Total | 17,414,527 | |
Total Health Care | 55,207,810 | |
Industrials 15.8% | ||
Aerospace & Defense 1.4% | ||
Curtiss-Wright Corp. | 52,210 | 6,677,659 |
Moog, Inc., Class A | 95,260 | 8,244,753 |
Total | 14,922,412 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Airlines 0.5% | ||
Skywest, Inc.(a) | 111,990 | 5,561,423 |
Building Products 2.1% | ||
Caesarstone Ltd. | 253,831 | 3,543,481 |
Resideo Technologies, Inc.(a) | 303,040 | 9,094,230 |
UFP Industries, Inc. | 122,035 | 10,255,822 |
Total | 22,893,533 | |
Commercial Services & Supplies 0.8% | ||
HNI Corp. | 137,170 | 5,807,778 |
KAR Auction Services, Inc.(a) | 167,159 | 2,505,713 |
Total | 8,313,491 | |
Construction & Engineering 0.5% | ||
Dycom Industries, Inc.(a) | 63,750 | 5,980,387 |
Electrical Equipment 2.2% | ||
Acuity Brands, Inc. | 39,810 | 7,385,551 |
AZZ, Inc. | 100,940 | 5,313,482 |
Encore Wire Corp. | 100,944 | 7,538,498 |
Thermon(a) | 182,280 | 3,481,548 |
Total | 23,719,079 | |
Machinery 4.0% | ||
Commercial Vehicle Group, Inc.(a) | 432,760 | 4,756,032 |
Gorman-Rupp Co. | 127,875 | 4,414,245 |
Greenbrier Companies, Inc. (The) | 135,380 | 6,395,351 |
LB Foster Co., Class A(a) | 151,478 | 2,444,855 |
Lydall, Inc.(a) | 153,555 | 5,658,502 |
Manitex International, Inc.(a) | 398,522 | 2,889,285 |
Mueller Industries, Inc. | 216,592 | 9,718,483 |
Standex International Corp. | 71,494 | 6,779,061 |
Total | 43,055,814 | |
Marine 0.9% | ||
Atlas Corp. | 471,691 | 6,499,902 |
Costamare, Inc. | 361,600 | 3,804,032 |
Total | 10,303,934 | |
Professional Services 1.0% | ||
Korn/Ferry International | 159,357 | 10,818,747 |
10 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Road & Rail 1.5% | ||
Marten Transport Ltd. | 266,850 | 4,461,732 |
Schneider National, Inc., Class B | 276,818 | 6,707,300 |
Werner Enterprises, Inc. | 112,379 | 5,195,281 |
Total | 16,364,313 | |
Trading Companies & Distributors 0.9% | ||
H&E Equipment Services, Inc. | 140,208 | 5,454,091 |
Textainer Group Holdings Ltd.(a) | 188,762 | 4,836,083 |
Total | 10,290,174 | |
Total Industrials | 172,223,307 | |
Information Technology 6.9% | ||
Communications Equipment 2.1% | ||
Casa Systems, Inc.(a) | 354,226 | 2,778,903 |
Digi International, Inc.(a) | 213,860 | 3,821,678 |
KVH Industries, Inc.(a) | 267,035 | 3,575,599 |
NETGEAR, Inc.(a) | 156,480 | 5,822,621 |
Netscout Systems, Inc.(a) | 265,654 | 6,958,806 |
Total | 22,957,607 | |
Electronic Equipment, Instruments & Components 1.5% | ||
Airgain, Inc.(a) | 165,170 | 3,902,967 |
Vishay Intertechnology, Inc. | 418,930 | 10,293,110 |
Vishay Precision Group, Inc.(a) | 62,294 | 1,985,933 |
Total | 16,182,010 | |
IT Services 1.0% | ||
Cass Information Systems, Inc. | 72,437 | 3,324,134 |
IBEX Holdings Ltd.(a) | 168,330 | 3,888,423 |
International Money Express, Inc.(a) | 261,678 | 4,129,279 |
Total | 11,341,836 | |
Semiconductors & Semiconductor Equipment 0.5% | ||
Cohu, Inc.(a) | 135,852 | 5,435,439 |
Software 1.6% | ||
Asure Software, Inc.(a) | 402,950 | 3,227,629 |
CDK Global, Inc. | 151,046 | 8,094,555 |
Cognyte Software Ltd.(a) | 230,451 | 6,021,685 |
Total | 17,343,869 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Technology Hardware, Storage & Peripherals 0.2% | ||
Stratasys Ltd.(a) | 84,820 | 1,900,816 |
Total Information Technology | 75,161,577 | |
Materials 9.6% | ||
Chemicals 1.6% | ||
FutureFuel Corp. | 269,696 | 3,425,139 |
Livent Corp.(a) | 362,036 | 6,523,889 |
Tronox Holdings PLC, Class A | 359,394 | 7,619,153 |
Total | 17,568,181 | |
Construction Materials 0.7% | ||
Eagle Materials, Inc.(a) | 55,940 | 7,727,552 |
Containers & Packaging 0.7% | ||
Greif, Inc., Class A | 115,109 | 6,965,245 |
Metals & Mining 5.2% | ||
Ampco-Pittsburgh Corp.(a) | 748,616 | 5,667,023 |
Capstone Mining Corp.(a) | 1,812,764 | 8,096,713 |
Centerra Gold, Inc. | 640,780 | 5,911,764 |
Commercial Metals Co. | 356,680 | 10,422,190 |
ERO Copper Corp.(a) | 268,586 | 5,303,325 |
Ferroglobe PLC(a) | 907,668 | 3,721,439 |
Olympic Steel, Inc. | 160,980 | 4,676,469 |
Pretium Resources, Inc.(a) | 457,706 | 4,807,375 |
Schnitzer Steel Industries, Inc., Class A | 121,396 | 5,731,105 |
Universal Stainless & Alloy Products, Inc.(a) | 219,337 | 2,004,740 |
Total | 56,342,143 | |
Paper & Forest Products 1.4% | ||
Clearwater Paper Corp.(a) | 101,110 | 3,383,141 |
Louisiana-Pacific Corp. | 185,938 | 12,249,595 |
Total | 15,632,736 | |
Total Materials | 104,235,857 | |
Real Estate 6.5% | ||
Equity Real Estate Investment Trusts (REITS) 6.5% | ||
American Assets Trust, Inc. | 210,360 | 7,373,118 |
Braemar Hotels & Resorts, Inc.(a) | 609,820 | 3,994,321 |
Brixmor Property Group, Inc. | 201,390 | 4,499,053 |
Farmland Partners, Inc. | 480,086 | 6,399,546 |
Highwoods Properties, Inc. | 100,990 | 4,523,342 |
Hudson Pacific Properties, Inc. | 157,600 | 4,430,136 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 11 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Macerich Co. (The) | 284,570 | 3,924,220 |
Pebblebrook Hotel Trust | 354,701 | 8,470,260 |
PotlatchDeltic Corp. | 168,243 | 9,986,905 |
RLJ Lodging Trust | 517,145 | 8,346,720 |
Sunstone Hotel Investors, Inc.(a) | 623,212 | 8,201,470 |
Total | 70,149,091 | |
Total Real Estate | 70,149,091 | |
Utilities 0.5% | ||
Gas Utilities 0.5% | ||
National Fuel Gas Co. | 104,560 | 5,192,450 |
Total Utilities | 5,192,450 | |
Total Common Stocks (Cost $642,723,900) | 1,071,312,209 | |
Exchange-Traded Equity Funds 0.3% | ||
Shares | Value ($) | |
U.S. Small Cap 0.3% | ||
iShares Russell 2000 Value ETF | 22,060 | 3,582,103 |
Total Exchange-Traded Equity Funds (Cost $2,215,901) | 3,582,103 | |
Money Market Funds 1.1% | ||
Columbia Short-Term Cash Fund, 0.054%(b),(c) | 12,381,086 | 12,379,847 |
Total Money Market Funds (Cost $12,379,847) | 12,379,847 | |
Total Investments in Securities (Cost: $657,319,648) | 1,087,274,159 | |
Other Assets & Liabilities, Net | (243,522) | |
Net Assets | 1,087,030,637 |
(a) | Non-income producing investment. |
(b) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
(c) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.054% | ||||||||
3,353,471 | 288,690,647 | (279,663,613) | (658) | 12,379,847 | 360 | 8,194 | 12,381,086 |
ADR | American Depositary Receipt |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
12 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 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 | 23,341,033 | — | — | 23,341,033 |
Consumer Discretionary | 142,125,903 | — | — | 142,125,903 |
Consumer Staples | 32,926,531 | — | — | 32,926,531 |
Energy | 50,608,149 | — | — | 50,608,149 |
Financials | 340,140,501 | — | — | 340,140,501 |
Health Care | 55,207,810 | — | — | 55,207,810 |
Industrials | 172,223,307 | — | — | 172,223,307 |
Information Technology | 75,161,577 | — | — | 75,161,577 |
Materials | 104,235,857 | — | — | 104,235,857 |
Real Estate | 70,149,091 | — | — | 70,149,091 |
Utilities | 5,192,450 | — | — | 5,192,450 |
Total Common Stocks | 1,071,312,209 | — | — | 1,071,312,209 |
Exchange-Traded Equity Funds | 3,582,103 | — | — | 3,582,103 |
Money Market Funds | 12,379,847 | — | — | 12,379,847 |
Total Investments in Securities | 1,087,274,159 | — | — | 1,087,274,159 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 13 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $644,939,801) | $1,074,894,312 |
Affiliated issuers (cost $12,379,847) | 12,379,847 |
Receivable for: | |
Capital shares sold | 2,033,801 |
Dividends | 159,257 |
Prepaid expenses | 14,698 |
Trustees’ deferred compensation plan | 396,828 |
Total assets | 1,089,878,743 |
Liabilities | |
Payable for: | |
Investments purchased | 422,669 |
Capital shares purchased | 1,805,942 |
Management services fees | 24,697 |
Distribution and/or service fees | 2,255 |
Transfer agent fees | 140,542 |
Compensation of board members | 3,737 |
Compensation of chief compliance officer | 8 |
Other expenses | 51,428 |
Trustees’ deferred compensation plan | 396,828 |
Total liabilities | 2,848,106 |
Net assets applicable to outstanding capital stock | $1,087,030,637 |
Represented by | |
Paid in capital | 628,358,835 |
Total distributable earnings (loss) | 458,671,802 |
Total - representing net assets applicable to outstanding capital stock | $1,087,030,637 |
14 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Class A | |
Net assets | $286,411,233 |
Shares outstanding | 5,809,444 |
Net asset value per share | $49.30 |
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) | $52.31 |
Advisor Class | |
Net assets | $54,620,831 |
Shares outstanding | 950,452 |
Net asset value per share | $57.47 |
Class C | |
Net assets | $8,516,250 |
Shares outstanding | 273,433 |
Net asset value per share | $31.15 |
Institutional Class | |
Net assets | $440,126,337 |
Shares outstanding | 7,911,268 |
Net asset value per share | $55.63 |
Institutional 2 Class | |
Net assets | $116,248,863 |
Shares outstanding | 2,020,046 |
Net asset value per share | $57.55 |
Institutional 3 Class | |
Net assets | $178,586,245 |
Shares outstanding | 3,188,289 |
Net asset value per share | $56.01 |
Class R | |
Net assets | $2,520,878 |
Shares outstanding | 51,364 |
Net asset value per share | $49.08 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 15 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $11,087,550 |
Dividends — affiliated issuers | 8,194 |
Non-cash dividends - unaffiliated issuers | 2,188,137 |
Foreign taxes withheld | (85,434) |
Total income | 13,198,447 |
Expenses: | |
Management services fees | 5,982,116 |
Distribution and/or service fees | |
Class A | 530,322 |
Class C | 55,245 |
Class R | 9,713 |
Transfer agent fees | |
Class A | 399,194 |
Advisor Class | 49,364 |
Class C | 10,336 |
Institutional Class | 477,443 |
Institutional 2 Class | 42,731 |
Institutional 3 Class | 9,437 |
Class R | 3,696 |
Compensation of board members | 23,262 |
Custodian fees | 25,187 |
Printing and postage fees | 84,259 |
Registration fees | 162,661 |
Audit fees | 29,500 |
Legal fees | 15,797 |
Interest on interfund lending | 59 |
Compensation of chief compliance officer | 190 |
Other | 67,037 |
Total expenses | 7,977,549 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (140,670) |
Expense reduction | (4,153) |
Total net expenses | 7,832,726 |
Net investment income | 5,365,721 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 63,573,673 |
Investments — affiliated issuers | 360 |
Foreign currency translations | 3,547 |
Net realized gain | 63,577,580 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 399,239,320 |
Investments — affiliated issuers | (658) |
Net change in unrealized appreciation (depreciation) | 399,238,662 |
Net realized and unrealized gain | 462,816,242 |
Net increase in net assets resulting from operations | $468,181,963 |
16 | Columbia Small Cap Value Fund I | Annual Report 2021 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $5,365,721 | $3,910,030 |
Net realized gain (loss) | 63,577,580 | (8,826,433) |
Net change in unrealized appreciation (depreciation) | 399,238,662 | (121,636,535) |
Net increase (decrease) in net assets resulting from operations | 468,181,963 | (126,552,938) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (1,160,307) | (8,158,910) |
Advisor Class | (177,582) | (942,358) |
Class C | (5,544) | (310,586) |
Institutional Class | (1,812,485) | (5,963,643) |
Institutional 2 Class | (577,275) | (1,465,899) |
Institutional 3 Class | (1,074,845) | (3,686,464) |
Class R | (7,085) | (70,190) |
Total distributions to shareholders | (4,815,123) | (20,598,050) |
Increase (decrease) in net assets from capital stock activity | 192,029,700 | (35,902,834) |
Total increase (decrease) in net assets | 655,396,540 | (183,053,822) |
Net assets at beginning of year | 431,634,097 | 614,687,919 |
Net assets at end of year | $1,087,030,637 | $431,634,097 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 17 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 792,138 | 30,745,196 | 507,420 | 15,901,962 |
Fund reorganization | 749,058 | 20,756,334 | — | — |
Distributions reinvested | 29,979 | 1,066,400 | 223,604 | 7,583,573 |
Redemptions | (1,411,683) | (51,005,190) | (1,492,445) | (48,817,503) |
Net increase (decrease) | 159,492 | 1,562,740 | (761,421) | (25,331,968) |
Advisor Class | ||||
Subscriptions | 652,486 | 33,613,095 | 294,967 | 10,689,266 |
Fund reorganization | 23,850 | 769,407 | — | — |
Distributions reinvested | 3,386 | 139,315 | 19,604 | 772,788 |
Redemptions | (338,346) | (14,828,695) | (391,501) | (15,180,398) |
Net increase (decrease) | 341,376 | 19,693,122 | (76,930) | (3,718,344) |
Class C | ||||
Subscriptions | 124,991 | 3,463,386 | 31,735 | 686,502 |
Fund reorganization | 97,768 | 1,714,870 | — | — |
Distributions reinvested | 288 | 5,178 | 12,954 | 278,476 |
Redemptions | (135,914) | (3,249,186) | (194,347) | (4,122,251) |
Net increase (decrease) | 87,133 | 1,934,248 | (149,658) | (3,157,273) |
Institutional Class | ||||
Subscriptions | 5,760,693 | 230,900,160 | 1,367,703 | 46,321,984 |
Fund reorganization | 1,392,865 | 43,499,400 | — | — |
Distributions reinvested | 30,595 | 1,282,323 | 97,005 | 3,707,301 |
Redemptions | (2,774,077) | (123,743,095) | (2,660,086) | (92,363,416) |
Net increase (decrease) | 4,410,076 | 151,938,788 | (1,195,378) | (42,334,131) |
Institutional 2 Class | ||||
Subscriptions | 813,796 | 37,795,832 | 1,075,085 | 33,771,141 |
Fund reorganization | 14,915 | 481,614 | — | — |
Distributions reinvested | 14,044 | 577,275 | 37,051 | 1,465,831 |
Redemptions | (507,180) | (22,924,661) | (367,165) | (13,076,279) |
Net increase | 335,575 | 15,930,060 | 744,971 | 22,160,693 |
Institutional 3 Class | ||||
Subscriptions | 804,192 | 37,736,473 | 1,365,778 | 44,952,340 |
Fund reorganization | 6,037 | 189,748 | — | — |
Distributions reinvested | 23,589 | 937,683 | 74,215 | 2,855,588 |
Redemptions | (818,757) | (37,742,017) | (884,925) | (31,307,094) |
Net increase | 15,061 | 1,121,887 | 555,068 | 16,500,834 |
Class R | ||||
Subscriptions | 19,947 | 726,715 | 5,980 | 197,401 |
Distributions reinvested | 201 | 7,065 | 2,079 | 70,190 |
Redemptions | (24,292) | (884,925) | (8,642) | (290,236) |
Net decrease | (4,144) | (151,145) | (583) | (22,645) |
Total net increase (decrease) | 5,344,569 | 192,029,700 | (883,931) | (35,902,834) |
18 | Columbia Small Cap Value Fund I | Annual Report 2021 |
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 | |||||||
Year Ended 4/30/2021 | $26.90 | 0.19 | 22.41 | 22.60 | (0.17) | (0.03) | (0.20) |
Year Ended 4/30/2020 | $36.62 | 0.18 | (8.59) | (8.41) | (0.17) | (1.14) | (1.31) |
Year Ended 4/30/2019 | $40.70 | 0.08 | (1.08) | (1.00) | (0.13) | (2.95) | (3.08) |
Year Ended 4/30/2018 | $41.62 | (0.03) | 3.95 | 3.92 | (0.01) | (4.83) | (4.84) |
Year Ended 4/30/2017 | $37.50 | 0.05 | 8.85 | 8.90 | (0.06) | (4.72) | (4.78) |
Advisor Class | |||||||
Year Ended 4/30/2021 | $31.32 | 0.37 | 26.06 | 26.43 | (0.25) | (0.03) | (0.28) |
Year Ended 4/30/2020 | $42.37 | 0.30 | (9.98) | (9.68) | (0.23) | (1.14) | (1.37) |
Year Ended 4/30/2019 | $46.56 | 0.21 | (1.25) | (1.04) | (0.20) | (2.95) | (3.15) |
Year Ended 4/30/2018 | $46.89 | 0.10 | 4.48 | 4.58 | (0.08) | (4.83) | (4.91) |
Year Ended 4/30/2017 | $41.66 | 0.15 | 9.94 | 10.09 | (0.14) | (4.72) | (4.86) |
Class C | |||||||
Year Ended 4/30/2021 | $17.06 | (0.04) | 14.16 | 14.12 | — | (0.03) | (0.03) |
Year Ended 4/30/2020 | $23.72 | (0.04) | (5.48) | (5.52) | — | (1.14) | (1.14) |
Year Ended 4/30/2019 | $27.55 | (0.16) | (0.72) | (0.88) | — | (2.95) | (2.95) |
Year Ended 4/30/2018 | $29.86 | (0.24) | 2.76 | 2.52 | — | (4.83) | (4.83) |
Year Ended 4/30/2017 | $28.24 | (0.19) | 6.44 | 6.25 | — | (4.63) | (4.63) |
Institutional Class | |||||||
Year Ended 4/30/2021 | $30.33 | 0.33 | 25.25 | 25.58 | (0.25) | (0.03) | (0.28) |
Year Ended 4/30/2020 | $41.07 | 0.30 | (9.67) | (9.37) | (0.23) | (1.14) | (1.37) |
Year Ended 4/30/2019 | $45.24 | 0.20 | (1.22) | (1.02) | (0.20) | (2.95) | (3.15) |
Year Ended 4/30/2018 | $45.70 | 0.08 | 4.37 | 4.45 | (0.08) | (4.83) | (4.91) |
Year Ended 4/30/2017 | $40.71 | 0.14 | 9.71 | 9.85 | (0.14) | (4.72) | (4.86) |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $31.36 | 0.40 | 26.11 | 26.51 | (0.29) | (0.03) | (0.32) |
Year Ended 4/30/2020 | $42.40 | 0.36 | (10.00) | (9.64) | (0.26) | (1.14) | (1.40) |
Year Ended 4/30/2019 | $46.57 | 0.27 | (1.25) | (0.98) | (0.24) | (2.95) | (3.19) |
Year Ended 4/30/2018 | $46.88 | 0.17 | 4.46 | 4.63 | (0.11) | (4.83) | (4.94) |
Year Ended 4/30/2017 | $41.64 | 0.23 | 9.92 | 10.15 | (0.19) | (4.72) | (4.91) |
20 | Columbia Small Cap Value Fund I | 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 4/30/2021 | $49.30 | 84.29% | 1.33%(c) | 1.31%(c),(d) | 0.53% | 43% | $286,411 |
Year Ended 4/30/2020 | $26.90 | (23.69%) | 1.37%(c),(e) | 1.32%(c),(d),(e) | 0.55% | 60% | $152,006 |
Year Ended 4/30/2019 | $36.62 | (2.38%) | 1.36%(c),(e) | 1.32%(c),(d),(e) | 0.21% | 62% | $234,765 |
Year Ended 4/30/2018 | $40.70 | 10.03% | 1.35%(e) | 1.33%(d),(e) | (0.07%) | 51% | $248,266 |
Year Ended 4/30/2017 | $41.62 | 26.02% | 1.38%(e) | 1.37%(d),(e) | 0.12% | 50% | $245,315 |
Advisor Class | |||||||
Year Ended 4/30/2021 | $57.47 | 84.74% | 1.08%(c) | 1.06%(c),(d) | 0.87% | 43% | $54,621 |
Year Ended 4/30/2020 | $31.32 | (23.49%) | 1.12%(c),(e) | 1.07%(c),(d),(e) | 0.79% | 60% | $19,077 |
Year Ended 4/30/2019 | $42.37 | (2.14%) | 1.12%(c),(e) | 1.07%(c),(d),(e) | 0.48% | 62% | $29,064 |
Year Ended 4/30/2018 | $46.56 | 10.34% | 1.10%(e) | 1.08%(d),(e) | 0.20% | 51% | $11,734 |
Year Ended 4/30/2017 | $46.89 | 26.30% | 1.13%(e) | 1.12%(d),(e) | 0.34% | 50% | $4,729 |
Class C | |||||||
Year Ended 4/30/2021 | $31.15 | 82.90% | 2.08%(c) | 2.05%(c),(d) | (0.19%) | 43% | $8,516 |
Year Ended 4/30/2020 | $17.06 | (24.24%) | 2.12%(c),(e) | 2.07%(c),(d),(e) | (0.20%) | 60% | $3,178 |
Year Ended 4/30/2019 | $23.72 | (3.15%) | 2.10%(c),(e) | 2.07%(c),(d),(e) | (0.59%) | 62% | $7,969 |
Year Ended 4/30/2018 | $27.55 | 9.24% | 2.10%(e) | 2.08%(d),(e) | (0.83%) | 51% | $22,792 |
Year Ended 4/30/2017 | $29.86 | 25.05% | 2.12%(e) | 2.12%(d),(e) | (0.65%) | 50% | $26,703 |
Institutional Class | |||||||
Year Ended 4/30/2021 | $55.63 | 84.72% | 1.07%(c) | 1.05%(c),(d) | 0.77% | 43% | $440,126 |
Year Ended 4/30/2020 | $30.33 | (23.48%) | 1.12%(c),(e) | 1.07%(c),(d),(e) | 0.79% | 60% | $106,186 |
Year Ended 4/30/2019 | $41.07 | (2.16%) | 1.11%(c),(e) | 1.07%(c),(d),(e) | 0.47% | 62% | $192,878 |
Year Ended 4/30/2018 | $45.24 | 10.32% | 1.10%(e) | 1.08%(d),(e) | 0.17% | 51% | $209,822 |
Year Ended 4/30/2017 | $45.70 | 26.33% | 1.13%(e) | 1.12%(d),(e) | 0.34% | 50% | $239,246 |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $57.55 | 84.97% | 0.95%(c) | 0.93%(c) | 0.93% | 43% | $116,249 |
Year Ended 4/30/2020 | $31.36 | (23.39%) | 0.98%(c),(e) | 0.94%(c),(e) | 0.96% | 60% | $52,825 |
Year Ended 4/30/2019 | $42.40 | (2.01%) | 0.97%(c),(e) | 0.94%(c),(e) | 0.61% | 62% | $39,831 |
Year Ended 4/30/2018 | $46.57 | 10.45% | 0.97%(e) | 0.96%(e) | 0.35% | 51% | $15,739 |
Year Ended 4/30/2017 | $46.88 | 26.50% | 0.97%(e) | 0.97%(e) | 0.52% | 50% | $9,135 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 21 |
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 | |||||||
Year Ended 4/30/2021 | $30.53 | 0.39 | 25.43 | 25.82 | (0.31) | (0.03) | (0.34) |
Year Ended 4/30/2020 | $41.30 | 0.37 | (9.72) | (9.35) | (0.28) | (1.14) | (1.42) |
Year Ended 4/30/2019 | $45.45 | 0.28 | (1.22) | (0.94) | (0.26) | (2.95) | (3.21) |
Year Ended 4/30/2018 | $45.86 | 0.17 | 4.37 | 4.54 | (0.12) | (4.83) | (4.95) |
Year Ended 4/30/2017 | $40.83 | 0.09 | 9.87 | 9.96 | (0.21) | (4.72) | (4.93) |
Class R | |||||||
Year Ended 4/30/2021 | $26.79 | 0.11 | 22.30 | 22.41 | (0.09) | (0.03) | (0.12) |
Year Ended 4/30/2020 | $36.50 | 0.10 | (8.56) | (8.46) | (0.11) | (1.14) | (1.25) |
Year Ended 4/30/2019 | $40.61 | (0.01) | (1.09) | (1.10) | (0.06) | (2.95) | (3.01) |
Year Ended 4/30/2018 | $41.63 | (0.13) | 3.94 | 3.81 | — | (4.83) | (4.83) |
Year Ended 4/30/2017 | $37.54 | (0.06) | 8.87 | 8.81 | — | (4.72) | (4.72) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | Ratios include interfund lending expense which is less than 0.01%. |
(d) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(e) | Ratios include line of credit interest expense which is less than 0.01%. |
22 | Columbia Small Cap Value Fund I | 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 4/30/2021 | $56.01 | 85.03% | 0.90%(c) | 0.88%(c) | 0.96% | 43% | $178,586 |
Year Ended 4/30/2020 | $30.53 | (23.34%) | 0.93%(c),(e) | 0.89%(c),(e) | 1.01% | 60% | $96,875 |
Year Ended 4/30/2019 | $41.30 | (1.97%) | 0.92%(c),(e) | 0.89%(c),(e) | 0.64% | 62% | $108,132 |
Year Ended 4/30/2018 | $45.45 | 10.50% | 0.93%(e) | 0.91%(e) | 0.37% | 51% | $115,296 |
Year Ended 4/30/2017 | $45.86 | 26.57% | 0.92%(e) | 0.92%(e) | 0.22% | 50% | $64,230 |
Class R | |||||||
Year Ended 4/30/2021 | $49.08 | 83.85% | 1.58%(c) | 1.56%(c),(d) | 0.30% | 43% | $2,521 |
Year Ended 4/30/2020 | $26.79 | (23.87%) | 1.62%(c),(e) | 1.57%(c),(d),(e) | 0.31% | 60% | $1,487 |
Year Ended 4/30/2019 | $36.50 | (2.67%) | 1.60%(c),(e) | 1.57%(c),(d),(e) | (0.03%) | 62% | $2,048 |
Year Ended 4/30/2018 | $40.61 | 9.77% | 1.60%(e) | 1.58%(d),(e) | (0.31%) | 51% | $3,790 |
Year Ended 4/30/2017 | $41.63 | 25.71% | 1.63%(e) | 1.62%(d),(e) | (0.15%) | 50% | $3,032 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 23 |
April 30, 2021
24 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Columbia Small Cap Value Fund I | Annual Report 2021 | 25 |
April 30, 2021
26 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Effective rate (%) | |
Class A | 0.19 |
Advisor Class | 0.19 |
Class C | 0.19 |
Institutional Class | 0.18 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
Class R | 0.19 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 27 |
April 30, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 5.75 | 0.50 - 1.00(a) | 117,224 |
Class C | — | 1.00(b) | 66 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
July 11, 2020 through August 31, 2021 | Prior to July 11, 2020 | |
Class A | 1.31% | 1.32% |
Advisor Class | 1.06 | 1.07 |
Class C | 2.06 | 2.07 |
Institutional Class | 1.06 | 1.07 |
Institutional 2 Class | 0.93 | 0.94 |
Institutional 3 Class | 0.88 | 0.89 |
Class R | 1.56 | 1.57 |
28 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Undistributed net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(715,594) | (9,865,206) | 10,580,800 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
4,371,513 | 443,610 | 4,815,123 | 3,081,220 | 17,516,830 | 20,598,050 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
6,753,236 | 33,360,535 | (7,621,188) | 426,578,749 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
660,695,410 | 432,855,083 | (6,276,334) | 426,578,749 |
Columbia Small Cap Value Fund I | Annual Report 2021 | 29 |
April 30, 2021
No expiration short-term ($) | No expiration long-term ($) | Total ($) | Utilized ($) |
(7,621,188) | — | (7,621,188) | 478,325 |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 566,667 | 0.62 | 6 |
30 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Shares | |
Class A | 749,058 |
Advisor Class | 23,850 |
Class C | 97,768 |
Institutional Class | 1,392,865(a) |
Institutional 2 Class | 14,915 |
Institutional 3 Class | 6,037 |
(a) | 1,101,599 shares of Institutional Class were issued in exchange of Class V shares of the Acquired Fund. |
Columbia Small Cap Value Fund I | Annual Report 2021 | 31 |
April 30, 2021
($) | |
Net investment income | 5,436,000 |
Net realized gain | 63,659,000 |
Net change in unrealized appreciation | 403,525,000 |
Net increase in net assets from operations | 472,620,000 |
32 | Columbia Small Cap Value Fund I | Annual Report 2021 |
April 30, 2021
Columbia Small Cap Value Fund I | Annual Report 2021 | 33 |
34 | Columbia Small Cap Value Fund I | Annual Report 2021 |
Qualified dividend income | Dividends received deduction | Capital gain dividend |
100.00% | 81.79% | $36,755,496 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | 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 Small Cap Value Fund I | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
36 | Columbia Small Cap Value Fund I | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 Small Cap Value Fund I | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 Small Cap Value Fund I | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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 Small Cap Value Fund I | 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
40 | Columbia Small Cap Value Fund I | 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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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 Small Cap Value Fund I | Annual Report 2021 | 41 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
42 | Columbia Small Cap Value Fund I | 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.
April 30, 2021
3 | |
5 | |
7 | |
8 | |
12 | |
13 | |
14 | |
16 | |
20 | |
28 | |
29 | |
29 | |
35 | |
36 |
Average annual total returns (%) (for the period ended April 30, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | 11/25/02 | -4.66 | 2.05 | 2.45 | |
Class C | Excluding sales charges | 11/25/02 | -5.22 | 1.35 | 1.77 |
Including sales charges | -6.16 | 1.35 | 1.77 | ||
Institutional Class | 06/04/91 | -4.44 | 2.22 | 2.65 | |
Institutional 2 Class* | 11/08/12 | -4.45 | 2.20 | 2.64 | |
Institutional 3 Class* | 03/01/17 | -4.49 | 2.20 | 2.63 | |
FTSE USBIG Treasury Index | -4.34 | 2.39 | 2.83 |
* | 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 U.S. Treasury Index Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at April 30, 2021) | |
Money Market Funds | 0.5 |
U.S. Treasury Obligations | 99.5 |
Total | 100.0 |
Quality breakdown (%) (at April 30, 2021) | |
AAA rating | 100.0 |
Total | 100.0 |
4 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
• | The Fund attempts to match the return of the unmanaged FTSE USBIG Treasury Index benchmark. |
• | Short-term Treasury yields were anchored by the Fed’s commitment to keep short rates low in order to assist in stimulating the economy to make up for significant disruptions in the labor market as well as depressed U.S. economic activity. |
• | Treasury returns were negatively impacted by the significant move higher in rates, along with the steepening of the yield curve. |
• | Three-year Treasuries moved 13 basis points higher than late July/early August 2020, whereas 10-year Treasury yields rose 100 basis points over the same period. |
• | From their low point in the summer of 2020, five-year Treasury yields moved higher by 60 basis points, while 30-year Treasury yields increased by 100 basis points during the same period. |
• | The yield curve steepening that we saw over the 12-month period was unusual, as most historical steepening environments are due to the Fed lowering rates and pushing the front end of the curve lower. |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 5 |
6 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
(Unaudited)
November 1, 2020 — April 30, 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 | 964.40 | 1,023.34 | 1.57 | 1.61 | 0.32 |
Class C | 1,000.00 | 1,000.00 | 961.30 | 1,020.09 | 4.74 | 4.89 | 0.97 |
Institutional Class | 1,000.00 | 1,000.00 | 965.20 | 1,024.08 | 0.83 | 0.86 | 0.17 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 965.10 | 1,024.08 | 0.83 | 0.86 | 0.17 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 964.60 | 1,024.08 | 0.83 | 0.86 | 0.17 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 7 |
April 30, 2021
U.S. Treasury Obligations 99.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
05/15/2022 | 2.125% | 11,627,000 | 11,872,711 | |
05/31/2022 | 0.125% | 10,681,000 | 10,686,424 | |
05/31/2022 | 1.750% | 3,487,000 | 3,549,793 | |
05/31/2022 | 1.875% | 2,679,000 | 2,730,696 | |
06/15/2022 | 1.750% | 2,956,000 | 3,010,963 | |
06/30/2022 | 0.125% | 3,936,000 | 3,937,538 | |
06/30/2022 | 1.750% | 4,977,000 | 5,072,652 | |
06/30/2022 | 2.125% | 3,763,000 | 3,851,636 | |
07/15/2022 | 1.750% | 4,781,000 | 4,876,060 | |
07/31/2022 | 0.125% | 5,270,000 | 5,271,853 | |
07/31/2022 | 1.875% | 2,811,000 | 2,873,369 | |
07/31/2022 | 2.000% | 2,630,000 | 2,692,257 | |
08/15/2022 | 1.500% | 5,166,000 | 5,259,230 | |
08/15/2022 | 1.625% | 6,041,000 | 6,159,696 | |
08/31/2022 | 0.125% | 4,920,000 | 4,921,345 | |
08/31/2022 | 1.625% | 5,252,000 | 5,357,655 | |
08/31/2022 | 1.875% | 5,303,000 | 5,427,082 | |
09/15/2022 | 1.500% | 5,201,000 | 5,299,535 | |
09/30/2022 | 0.125% | 9,509,000 | 9,510,114 | |
09/30/2022 | 1.750% | 4,941,000 | 5,054,875 | |
09/30/2022 | 1.875% | 2,485,000 | 2,546,543 | |
10/15/2022 | 1.375% | 5,539,000 | 5,639,611 | |
10/31/2022 | 1.875% | 4,226,000 | 4,336,107 | |
10/31/2022 | 2.000% | 6,441,000 | 6,621,147 | |
11/30/2022 | 0.125% | 6,959,000 | 6,958,728 | |
11/30/2022 | 2.000% | 3,927,000 | 4,042,509 | |
12/15/2022 | 1.625% | 4,795,000 | 4,910,380 | |
12/31/2022 | 2.125% | 6,873,000 | 7,098,789 | |
01/15/2023 | 1.500% | 2,792,000 | 2,856,347 | |
01/31/2023 | 0.125% | 3,958,000 | 3,956,609 | |
01/31/2023 | 1.750% | 3,340,000 | 3,433,024 | |
01/31/2023 | 2.375% | 1,475,000 | 1,532,156 | |
02/15/2023 | 1.375% | 3,053,000 | 3,119,665 | |
02/28/2023 | 1.500% | 2,065,000 | 2,115,496 | |
02/28/2023 | 2.625% | 2,928,000 | 3,059,531 | |
03/15/2023 | 0.500% | 5,584,000 | 5,619,554 | |
03/31/2023 | 1.500% | 4,328,000 | 4,438,229 | |
03/31/2023 | 2.500% | 4,278,000 | 4,469,173 | |
04/15/2023 | 0.250% | 5,022,000 | 5,030,239 | |
04/30/2023 | 2.750% | 3,348,000 | 3,519,585 | |
05/15/2023 | 0.125% | 12,058,000 | 12,044,812 | |
05/15/2023 | 1.750% | 4,330,000 | 4,467,680 | |
05/31/2023 | 1.625% | 7,274,000 | 7,491,083 | |
05/31/2023 | 2.750% | 3,539,000 | 3,727,286 | |
06/15/2023 | 0.250% | 6,948,000 | 6,957,228 | |
06/30/2023 | 1.375% | 6,823,000 | 6,996,240 | |
06/30/2023 | 2.625% | 6,836,000 | 7,195,424 | |
07/15/2023 | 0.125% | 6,693,000 | 6,682,019 | |
07/31/2023 | 1.250% | 3,432,000 | 3,512,169 | |
07/31/2023 | 2.750% | 4,617,000 | 4,879,953 | |
08/15/2023 | 0.125% | 9,193,000 | 9,175,045 | |
08/15/2023 | 2.500% | 10,669,000 | 11,224,121 | |
08/31/2023 | 1.375% | 5,465,000 | 5,611,872 | |
08/31/2023 | 2.750% | 1,832,000 | 1,939,630 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
09/15/2023 | 0.125% | 7,282,000 | 7,265,502 | |
09/30/2023 | 1.375% | 4,418,000 | 4,539,495 | |
09/30/2023 | 2.875% | 1,967,000 | 2,092,243 | |
10/15/2023 | 0.125% | 5,403,000 | 5,388,648 | |
10/31/2023 | 1.625% | 4,343,000 | 4,492,291 | |
10/31/2023 | 2.875% | 3,399,000 | 3,621,263 | |
11/15/2023 | 0.250% | 7,045,000 | 7,045,550 | |
11/15/2023 | 2.750% | 5,496,000 | 5,843,364 | |
11/30/2023 | 2.125% | 3,030,000 | 3,175,819 | |
11/30/2023 | 2.875% | 4,657,000 | 4,970,256 | |
12/15/2023 | 0.125% | 6,963,000 | 6,937,433 | |
12/31/2023 | 2.250% | 3,622,000 | 3,811,872 | |
12/31/2023 | 2.625% | 5,549,000 | 5,894,945 | |
01/15/2024 | 0.125% | 8,061,000 | 8,027,622 | |
01/31/2024 | 2.250% | 2,818,000 | 2,969,688 | |
01/31/2024 | 2.500% | 5,542,000 | 5,877,551 | |
02/15/2024 | 0.125% | 2,172,000 | 2,162,328 | |
02/15/2024 | 2.750% | 6,184,000 | 6,605,768 | |
02/29/2024 | 2.125% | 4,896,000 | 5,147,303 | |
02/29/2024 | 2.375% | 7,373,000 | 7,802,708 | |
03/15/2024 | 0.250% | 6,923,000 | 6,911,642 | |
03/31/2024 | 2.125% | 6,657,000 | 7,004,932 | |
04/30/2024 | 2.000% | 3,166,000 | 3,322,321 | |
04/30/2024 | 2.250% | 9,466,000 | 10,003,639 | |
05/15/2024 | 2.500% | 3,886,000 | 4,139,501 | |
05/31/2024 | 2.000% | 6,944,000 | 7,292,285 | |
06/30/2024 | 1.750% | 2,038,000 | 2,125,570 | |
06/30/2024 | 2.000% | 2,523,000 | 2,651,318 | |
07/31/2024 | 1.750% | 5,053,000 | 5,272,884 | |
07/31/2024 | 2.125% | 7,678,000 | 8,105,089 | |
08/15/2024 | 2.375% | 6,973,000 | 7,421,342 | |
08/31/2024 | 1.250% | 6,494,000 | 6,670,556 | |
09/30/2024 | 1.500% | 4,452,000 | 4,610,255 | |
10/31/2024 | 1.500% | 4,952,000 | 5,128,802 | |
10/31/2024 | 2.250% | 3,416,000 | 3,626,831 | |
11/15/2024 | 2.250% | 2,075,000 | 2,204,039 | |
11/30/2024 | 1.500% | 2,174,000 | 2,251,449 | |
11/30/2024 | 2.125% | 346,000 | 366,084 | |
12/31/2024 | 1.750% | 1,636,000 | 1,709,237 | |
12/31/2024 | 2.250% | 1,789,000 | 1,902,350 | |
01/31/2025 | 1.375% | 6,343,000 | 6,539,732 | |
01/31/2025 | 2.500% | 2,209,000 | 2,371,051 | |
02/15/2025 | 2.000% | 17,173,000 | 18,116,173 | |
02/28/2025 | 1.125% | 3,322,000 | 3,393,112 | |
02/28/2025 | 2.750% | 5,138,000 | 5,566,702 | |
03/31/2025 | 0.500% | 3,215,000 | 3,204,702 | |
03/31/2025 | 2.625% | 3,771,000 | 4,070,323 | |
04/30/2025 | 0.375% | 4,205,000 | 4,167,549 | |
04/30/2025 | 2.875% | 5,744,000 | 6,261,858 | |
05/15/2025 | 2.125% | 5,903,000 | 6,260,869 | |
05/31/2025 | 0.250% | 2,765,000 | 2,722,445 | |
05/31/2025 | 2.875% | 8,714,000 | 9,509,152 | |
06/30/2025 | 0.250% | 6,823,000 | 6,710,527 | |
06/30/2025 | 2.750% | 3,280,000 | 3,564,438 | |
07/31/2025 | 0.250% | 9,257,000 | 9,092,833 |
8 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
07/31/2025 | 2.875% | 2,468,000 | 2,696,676 | |
08/15/2025 | 2.000% | 10,216,000 | 10,793,044 | |
08/31/2025 | 0.250% | 8,883,000 | 8,712,974 | |
08/31/2025 | 2.750% | 4,848,000 | 5,275,230 | |
09/30/2025 | 0.250% | 6,177,000 | 6,052,977 | |
09/30/2025 | 3.000% | 3,564,000 | 3,920,122 | |
10/31/2025 | 0.250% | 7,432,000 | 7,272,328 | |
10/31/2025 | 3.000% | 3,111,000 | 3,424,287 | |
11/15/2025 | 2.250% | 6,847,000 | 7,310,777 | |
11/30/2025 | 0.375% | 4,687,000 | 4,606,442 | |
11/30/2025 | 2.875% | 3,722,000 | 4,078,789 | |
12/31/2025 | 0.375% | 7,714,000 | 7,571,171 | |
01/31/2026 | 0.375% | 6,744,000 | 6,610,174 | |
01/31/2026 | 2.625% | 4,569,000 | 4,960,578 | |
02/15/2026 | 1.625% | 5,126,000 | 5,323,031 | |
02/15/2026 | 6.000% | 2,388,000 | 2,969,515 | |
02/28/2026 | 2.500% | 4,259,000 | 4,600,718 | |
03/31/2026 | 0.750% | 2,534,000 | 2,524,102 | |
03/31/2026 | 2.250% | 6,048,000 | 6,461,910 | |
04/30/2026 | 2.375% | 6,787,000 | 7,294,965 | |
05/15/2026 | 1.625% | 5,906,000 | 6,127,936 | |
05/31/2026 | 2.125% | 4,135,000 | 4,393,438 | |
07/31/2026 | 1.875% | 3,061,000 | 3,212,615 | |
08/15/2026 | 1.500% | 8,703,000 | 8,959,331 | |
08/31/2026 | 1.375% | 5,002,000 | 5,116,499 | |
10/31/2026 | 1.625% | 2,647,000 | 2,738,818 | |
11/15/2026 | 2.000% | 8,262,000 | 8,713,183 | |
11/30/2026 | 1.625% | 3,260,000 | 3,371,553 | |
12/31/2026 | 1.750% | 2,844,000 | 2,960,204 | |
01/31/2027 | 1.500% | 6,535,000 | 6,705,523 | |
02/15/2027 | 2.250% | 5,499,000 | 5,871,901 | |
02/28/2027 | 1.125% | 5,093,000 | 5,113,292 | |
03/31/2027 | 0.625% | 2,295,000 | 2,235,473 | |
04/30/2027 | 0.500% | 3,196,000 | 3,084,390 | |
05/15/2027 | 2.375% | 5,797,000 | 6,230,869 | |
05/31/2027 | 0.500% | 5,916,000 | 5,698,310 | |
06/30/2027 | 0.500% | 7,037,000 | 6,766,515 | |
07/31/2027 | 0.375% | 9,213,000 | 8,773,943 | |
08/15/2027 | 2.250% | 7,510,000 | 8,008,711 | |
08/31/2027 | 0.500% | 4,638,000 | 4,445,233 | |
09/30/2027 | 0.375% | 9,622,000 | 9,131,128 | |
10/31/2027 | 0.500% | 13,366,000 | 12,764,530 | |
11/15/2027 | 2.250% | 8,740,000 | 9,310,831 | |
11/30/2027 | 0.625% | 3,745,000 | 3,600,466 | |
12/31/2027 | 0.625% | 5,653,000 | 5,426,880 | |
01/31/2028 | 0.750% | 10,850,000 | 10,487,203 | |
02/15/2028 | 2.750% | 8,150,000 | 8,942,078 | |
03/31/2028 | 1.250% | 1,292,000 | 1,288,366 | |
05/15/2028 | 2.875% | 7,901,000 | 8,739,247 | |
08/15/2028 | 2.875% | 7,563,000 | 8,371,296 | |
11/15/2028 | 3.125% | 7,800,000 | 8,778,656 | |
11/15/2028 | 5.250% | 2,293,000 | 2,932,890 | |
02/15/2029 | 2.625% | 9,624,000 | 10,485,649 | |
02/15/2029 | 5.250% | 6,351,000 | 8,161,035 | |
05/15/2029 | 2.375% | 6,437,000 | 6,892,619 | |
08/15/2029 | 1.625% | 6,694,000 | 6,777,675 | |
11/15/2029 | 1.750% | 5,207,000 | 5,316,022 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
02/15/2030 | 1.500% | 9,114,000 | 9,086,943 | |
05/15/2030 | 0.625% | 10,649,000 | 9,798,744 | |
05/15/2030 | 6.250% | 1,377,000 | 1,930,597 | |
08/15/2030 | 0.625% | 18,800,000 | 17,228,437 | |
11/15/2030 | 0.875% | 15,473,000 | 14,469,673 | |
02/15/2031 | 1.125% | 9,509,000 | 9,079,609 | |
02/15/2031 | 5.375% | 1,250,000 | 1,681,641 | |
02/15/2036 | 4.500% | 1,132,000 | 1,514,934 | |
05/15/2038 | 4.500% | 2,722,000 | 3,702,345 | |
02/15/2039 | 3.500% | 2,814,000 | 3,424,286 | |
05/15/2039 | 4.250% | 1,608,000 | 2,143,916 | |
08/15/2039 | 4.500% | 751,000 | 1,032,742 | |
11/15/2039 | 4.375% | 2,197,000 | 2,981,054 | |
02/15/2040 | 4.625% | 3,245,000 | 4,544,014 | |
05/15/2040 | 1.125% | 7,898,000 | 6,608,405 | |
05/15/2040 | 4.375% | 3,156,000 | 4,300,543 | |
08/15/2040 | 1.125% | 10,530,000 | 8,779,387 | |
11/15/2040 | 1.375% | 11,452,000 | 9,981,134 | |
02/15/2041 | 1.875% | 6,321,000 | 6,015,814 | |
02/15/2041 | 4.750% | 1,371,000 | 1,962,672 | |
05/15/2041 | 4.375% | 852,000 | 1,168,039 | |
08/15/2041 | 3.750% | 2,049,000 | 2,596,467 | |
02/15/2042 | 3.125% | 568,000 | 660,478 | |
08/15/2042 | 2.750% | 2,255,000 | 2,470,282 | |
11/15/2042 | 2.750% | 3,844,000 | 4,206,778 | |
02/15/2043 | 3.125% | 3,419,000 | 3,968,711 | |
05/15/2043 | 2.875% | 4,744,000 | 5,294,749 | |
08/15/2043 | 3.625% | 2,765,000 | 3,461,434 | |
11/15/2043 | 3.750% | 3,315,000 | 4,227,143 | |
02/15/2044 | 3.625% | 4,205,000 | 5,272,019 | |
05/15/2044 | 3.375% | 2,968,000 | 3,584,788 | |
08/15/2044 | 3.125% | 4,226,000 | 4,909,423 | |
11/15/2044 | 3.000% | 3,709,000 | 4,221,885 | |
02/15/2045 | 2.500% | 4,663,000 | 4,868,463 | |
05/15/2045 | 3.000% | 2,242,000 | 2,553,078 | |
08/15/2045 | 2.875% | 3,801,000 | 4,239,897 | |
11/15/2045 | 3.000% | 1,180,000 | 1,345,938 | |
02/15/2046 | 2.500% | 3,459,000 | 3,606,548 | |
05/15/2046 | 2.500% | 4,493,000 | 4,683,953 | |
08/15/2046 | 2.250% | 5,302,000 | 5,267,206 | |
11/15/2046 | 2.875% | 4,526,000 | 5,053,562 | |
02/15/2047 | 3.000% | 4,515,000 | 5,160,504 | |
05/15/2047 | 3.000% | 4,533,000 | 5,183,910 | |
08/15/2047 | 2.750% | 4,820,000 | 5,268,109 | |
11/15/2047 | 2.750% | 4,171,000 | 4,562,031 | |
02/15/2048 | 3.000% | 4,880,000 | 5,591,413 | |
05/15/2048 | 3.125% | 4,976,000 | 5,834,360 | |
08/15/2048 | 3.000% | 5,921,000 | 6,793,422 | |
11/15/2048 | 3.375% | 4,863,000 | 5,970,852 | |
02/15/2049 | 3.000% | 6,007,000 | 6,907,111 | |
05/15/2049 | 2.875% | 6,222,000 | 6,992,945 | |
08/15/2049 | 2.250% | 6,119,000 | 6,067,371 | |
11/15/2049 | 2.375% | 5,329,000 | 5,431,417 | |
02/15/2050 | 2.000% | 7,348,000 | 6,895,639 | |
05/15/2050 | 1.250% | 9,776,000 | 7,590,147 | |
08/15/2050 | 1.375% | 10,576,000 | 8,483,935 | |
11/15/2050 | 1.625% | 13,110,000 | 11,221,341 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 9 |
April 30, 2021
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
02/15/2051 | 1.875% | 3,355,000 | 3,053,050 | |
Total U.S. Treasury Obligations (Cost $1,204,616,032) | 1,225,896,115 |
Money Market Funds 0.5% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.054%(a),(b) | 5,962,033 | 5,961,437 |
Total Money Market Funds (Cost $5,961,242) | 5,961,437 | |
Total Investments in Securities (Cost: $1,210,577,274) | 1,231,857,552 | |
Other Assets & Liabilities, Net | 6,397,802 | |
Net Assets | 1,238,255,354 |
(a) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
(b) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.054% | ||||||||
12,559,865 | 217,055,672 | (223,652,092) | (2,008) | 5,961,437 | (1,701) | 9,474 | 5,962,033 |
■ | 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 U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
Under the direction of the Fund’s Board of Trustees (the Board), the Investment Manager’s Valuation Committee (the Committee) is responsible for overseeing the valuation procedures approved by the Board. The Committee consists of voting and non-voting members from various groups within the Investment Manager’s organization, including operations and accounting, trading and investments, compliance, risk management and legal.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
U.S. Treasury Obligations | 1,225,896,115 | — | — | 1,225,896,115 |
Money Market Funds | 5,961,437 | — | — | 5,961,437 |
Total Investments in Securities | 1,231,857,552 | — | — | 1,231,857,552 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 11 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,204,616,032) | $1,225,896,115 |
Affiliated issuers (cost $5,961,242) | 5,961,437 |
Receivable for: | |
Investments sold | 24,952,087 |
Capital shares sold | 1,885,466 |
Dividends | 222 |
Interest | 5,703,837 |
Expense reimbursement due from Investment Manager | 7,814 |
Trustees’ deferred compensation plan | 139,372 |
Total assets | 1,264,546,350 |
Liabilities | |
Payable for: | |
Investments purchased | 24,134,446 |
Capital shares purchased | 718,576 |
Distributions to shareholders | 1,279,994 |
Management services fees | 13,550 |
Distribution and/or service fees | 347 |
Compensation of board members | 4,711 |
Trustees’ deferred compensation plan | 139,372 |
Total liabilities | 26,290,996 |
Net assets applicable to outstanding capital stock | $1,238,255,354 |
Represented by | |
Paid in capital | 1,218,128,970 |
Total distributable earnings (loss) | 20,126,384 |
Total - representing net assets applicable to outstanding capital stock | $1,238,255,354 |
Class A | |
Net assets | $48,338,479 |
Shares outstanding | 4,194,475 |
Net asset value per share | $11.52 |
Class C | |
Net assets | $6,680,058 |
Shares outstanding | 579,700 |
Net asset value per share | $11.52 |
Institutional Class | |
Net assets | $537,273,039 |
Shares outstanding | 46,602,866 |
Net asset value per share | $11.53 |
Institutional 2 Class | |
Net assets | $53,191,341 |
Shares outstanding | 4,623,490 |
Net asset value per share | $11.50 |
Institutional 3 Class | |
Net assets | $592,772,437 |
Shares outstanding | 51,130,288 |
Net asset value per share | $11.59 |
12 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — affiliated issuers | $9,474 |
Interest | 17,930,645 |
Total income | 17,940,119 |
Expenses: | |
Management services fees | 4,744,922 |
Distribution and/or service fees | |
Class A | 139,980 |
Class C | 87,425 |
Compensation of board members | 32,427 |
Other | 1,094 |
Total expenses | 5,005,848 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (2,758,251) |
Fees waived by distributor | |
Class A | (56,054) |
Class C | (16,036) |
Expense reduction | (560) |
Total net expenses | 2,174,947 |
Net investment income | 15,765,172 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 4,879,884 |
Investments — affiliated issuers | (1,701) |
Net realized gain | 4,878,183 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (77,709,763) |
Investments — affiliated issuers | (2,008) |
Net change in unrealized appreciation (depreciation) | (77,711,771) |
Net realized and unrealized loss | (72,833,588) |
Net decrease in net assets resulting from operations | $(57,068,416) |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 13 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $15,765,172 | $18,899,109 |
Net realized gain | 4,878,183 | 13,906,991 |
Net change in unrealized appreciation (depreciation) | (77,711,771) | 92,971,205 |
Net increase (decrease) in net assets resulting from operations | (57,068,416) | 125,777,305 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (1,007,331) | (691,605) |
Class C | (102,605) | (44,719) |
Institutional Class | (10,927,800) | (9,616,113) |
Institutional 2 Class | (1,056,029) | (796,599) |
Institutional 3 Class | (9,468,987) | (7,744,004) |
Total distributions to shareholders | (22,562,752) | (18,893,040) |
Increase in net assets from capital stock activity | 210,255,941 | 157,956,007 |
Total increase in net assets | 130,624,773 | 264,840,272 |
Net assets at beginning of year | 1,107,630,581 | 842,790,309 |
Net assets at end of year | $1,238,255,354 | $1,107,630,581 |
14 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 2,503,519 | 30,279,238 | 3,489,419 | 41,663,933 |
Distributions reinvested | 52,006 | 623,745 | 30,276 | 352,443 |
Redemptions | (2,581,410) | (30,736,169) | (2,544,507) | (29,862,330) |
Net increase (decrease) | (25,885) | 166,814 | 975,188 | 12,154,046 |
Class C | ||||
Subscriptions | 463,270 | 5,632,251 | 505,393 | 5,939,164 |
Distributions reinvested | 8,523 | 102,314 | 3,750 | 43,694 |
Redemptions | (454,200) | (5,406,784) | (201,633) | (2,338,843) |
Net increase | 17,593 | 327,781 | 307,510 | 3,644,015 |
Institutional Class | ||||
Subscriptions | 13,476,919 | 162,645,987 | 28,352,853 | 326,628,841 |
Distributions reinvested | 877,042 | 10,532,133 | 795,276 | 9,247,081 |
Redemptions | (15,064,561) | (180,968,131) | (11,201,780) | (129,793,821) |
Net increase (decrease) | (710,600) | (7,790,011) | 17,946,349 | 206,082,101 |
Institutional 2 Class | ||||
Subscriptions | 3,633,451 | 43,793,657 | 2,670,305 | 31,549,517 |
Distributions reinvested | 24,726 | 296,679 | 10,018 | 117,091 |
Redemptions | (3,212,716) | (38,649,751) | (1,766,617) | (20,768,799) |
Net increase | 445,461 | 5,440,585 | 913,706 | 10,897,809 |
Institutional 3 Class | ||||
Subscriptions | 31,328,526 | 377,853,939 | 22,455,255 | 267,873,940 |
Distributions reinvested | 785,573 | 9,460,633 | 664,076 | 7,740,810 |
Redemptions | (14,582,431) | (175,203,800) | (29,735,701) | (350,436,714) |
Net increase (decrease) | 17,531,668 | 212,110,772 | (6,616,370) | (74,821,964) |
Total net increase | 17,258,237 | 210,255,941 | 13,526,383 | 157,956,007 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 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 | |||||||
Year Ended 4/30/2021 | $12.30 | 0.14 | (0.71) | (0.57) | (0.14) | (0.07) | (0.21) |
Year Ended 4/30/2020 | $11.00 | 0.21 | 1.30 | 1.51 | (0.21) | — | (0.21) |
Year Ended 4/30/2019 | $10.75 | 0.21 | 0.25 | 0.46 | (0.21) | — | (0.21) |
Year Ended 4/30/2018 | $11.06 | 0.16 | (0.31) | (0.15) | (0.16) | — | (0.16) |
Year Ended 4/30/2017 | $11.34 | 0.14 | (0.25) | (0.11) | (0.14) | (0.03) | (0.17) |
Class C | |||||||
Year Ended 4/30/2021 | $12.29 | 0.06 | (0.70) | (0.64) | (0.06) | (0.07) | (0.13) |
Year Ended 4/30/2020 | $11.00 | 0.13 | 1.29 | 1.42 | (0.13) | — | (0.13) |
Year Ended 4/30/2019 | $10.75 | 0.13 | 0.25 | 0.38 | (0.13) | — | (0.13) |
Year Ended 4/30/2018 | $11.06 | 0.09 | (0.31) | (0.22) | (0.09) | — | (0.09) |
Year Ended 4/30/2017 | $11.34 | 0.06 | (0.24) | (0.18) | (0.07) | (0.03) | (0.10) |
Institutional Class | |||||||
Year Ended 4/30/2021 | $12.30 | 0.16 | (0.70) | (0.54) | (0.16) | (0.07) | (0.23) |
Year Ended 4/30/2020 | $11.01 | 0.23 | 1.29 | 1.52 | (0.23) | — | (0.23) |
Year Ended 4/30/2019 | $10.75 | 0.22 | 0.27 | 0.49 | (0.23) | — | (0.23) |
Year Ended 4/30/2018 | $11.06 | 0.18 | (0.31) | (0.13) | (0.18) | — | (0.18) |
Year Ended 4/30/2017 | $11.34 | 0.16 | (0.25) | (0.09) | (0.16) | (0.03) | (0.19) |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $12.27 | 0.16 | (0.70) | (0.54) | (0.16) | (0.07) | (0.23) |
Year Ended 4/30/2020 | $10.98 | 0.23 | 1.29 | 1.52 | (0.23) | — | (0.23) |
Year Ended 4/30/2019 | $10.73 | 0.23 | 0.25 | 0.48 | (0.23) | — | (0.23) |
Year Ended 4/30/2018 | $11.04 | 0.18 | (0.31) | (0.13) | (0.18) | — | (0.18) |
Year Ended 4/30/2017 | $11.32 | 0.16 | (0.25) | (0.09) | (0.16) | (0.03) | (0.19) |
16 | Columbia U.S. Treasury Index 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 4/30/2021 | $11.52 | (4.66%) | 0.65% | 0.32%(c) | 1.20% | 40% | $48,338 |
Year Ended 4/30/2020 | $12.30 | 13.88% | 0.65% | 0.33%(c) | 1.83% | 54% | $51,890 |
Year Ended 4/30/2019 | $11.00 | 4.32% | 0.65% | 0.35%(c) | 1.93% | 50% | $35,707 |
Year Ended 4/30/2018 | $10.75 | (1.35%) | 0.65% | 0.35%(c) | 1.49% | 27% | $45,074 |
Year Ended 4/30/2017 | $11.06 | (0.94%) | 0.65% | 0.35%(c) | 1.27% | 50% | $48,312 |
Class C | |||||||
Year Ended 4/30/2021 | $11.52 | (5.22%) | 1.40% | 0.99%(c) | 0.53% | 40% | $6,680 |
Year Ended 4/30/2020 | $12.29 | 13.00% | 1.41% | 1.03%(c) | 1.12% | 54% | $6,910 |
Year Ended 4/30/2019 | $11.00 | 3.59% | 1.40% | 1.05%(c) | 1.23% | 50% | $2,801 |
Year Ended 4/30/2018 | $10.75 | (2.03%) | 1.41% | 1.05%(c) | 0.78% | 27% | $4,143 |
Year Ended 4/30/2017 | $11.06 | (1.63%) | 1.40% | 1.05%(c) | 0.56% | 50% | $6,938 |
Institutional Class | |||||||
Year Ended 4/30/2021 | $11.53 | (4.44%) | 0.40% | 0.17%(c) | 1.35% | 40% | $537,273 |
Year Ended 4/30/2020 | $12.30 | 13.95% | 0.40% | 0.18%(c) | 1.98% | 54% | $581,931 |
Year Ended 4/30/2019 | $11.01 | 4.57% | 0.40% | 0.20%(c) | 2.08% | 50% | $323,226 |
Year Ended 4/30/2018 | $10.75 | (1.20%) | 0.40% | 0.20%(c) | 1.64% | 27% | $392,889 |
Year Ended 4/30/2017 | $11.06 | (0.79%) | 0.40% | 0.20%(c) | 1.42% | 50% | $380,519 |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $11.50 | (4.45%) | 0.40% | 0.17% | 1.35% | 40% | $53,191 |
Year Ended 4/30/2020 | $12.27 | 13.98% | 0.40% | 0.18% | 1.98% | 54% | $51,284 |
Year Ended 4/30/2019 | $10.98 | 4.48% | 0.40% | 0.20% | 2.10% | 50% | $35,855 |
Year Ended 4/30/2018 | $10.73 | (1.20%) | 0.40% | 0.20% | 1.65% | 27% | $30,710 |
Year Ended 4/30/2017 | $11.04 | (0.80%) | 0.41% | 0.20% | 1.45% | 50% | $24,839 |
Columbia U.S. Treasury Index 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 | |
Institutional 3 Class | |||||||
Year Ended 4/30/2021 | $12.37 | 0.16 | (0.71) | (0.55) | (0.16) | (0.07) | (0.23) |
Year Ended 4/30/2020 | $11.07 | 0.23 | 1.30 | 1.53 | (0.23) | — | (0.23) |
Year Ended 4/30/2019 | $10.81 | 0.23 | 0.26 | 0.49 | (0.23) | — | (0.23) |
Year Ended 4/30/2018 | $11.13 | 0.18 | (0.32) | (0.14) | (0.18) | — | (0.18) |
Year Ended 4/30/2017(d) | $11.02 | 0.03 | 0.11(e) | 0.14 | (0.03) | — | (0.03) |
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) | Institutional 3 Class shares commenced operations on March 1, 2017. Per share data and total return reflect activity from that date. |
(e) | 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. |
(f) | Annualized. |
18 | Columbia U.S. Treasury Index 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 4/30/2021 | $11.59 | (4.49%) | 0.40% | 0.17% | 1.33% | 40% | $592,772 |
Year Ended 4/30/2020 | $12.37 | 13.97% | 0.40% | 0.18% | 2.00% | 54% | $415,616 |
Year Ended 4/30/2019 | $11.07 | 4.56% | 0.40% | 0.20% | 2.10% | 50% | $445,200 |
Year Ended 4/30/2018 | $10.81 | (1.27%) | 0.40% | 0.20% | 1.66% | 27% | $401,768 |
Year Ended 4/30/2017(d) | $11.13 | 1.24% | 0.40%(f) | 0.20%(f) | 1.52%(f) | 50% | $252,341 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 19 |
April 30, 2021
20 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 21 |
April 30, 2021
22 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class C | — | 1.00(a) | 4,858 |
(a) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
Fee rate(s) contractual through August 31, 2021 | |
Class A | 0.42% |
Class C | 1.17 |
Institutional Class | 0.17 |
Institutional 2 Class | 0.17 |
Institutional 3 Class | 0.17 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 23 |
April 30, 2021
Excess of distributions over net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
(20,183) | 20,183 | — |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
19,038,808 | 3,523,944 | 22,562,752 | 18,893,040 | — | 18,893,040 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
1,257,571 | 2,528,218 | — | 19,700,292 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,212,157,260 | 39,391,961 | (19,691,669) | 19,700,292 |
24 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
Late year ordinary losses ($) | Post-October capital losses ($) |
— | 1,937,028 |
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 25 |
April 30, 2021
26 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
April 30, 2021
Columbia U.S. Treasury Index Fund | Annual Report 2021 | 27 |
28 | Columbia U.S. Treasury Index Fund | Annual Report 2021 |
Capital gain dividend | Section 163(j) Interest Dividends |
$6,354,770 | 84.97% |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | 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 U.S. Treasury Index 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 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
30 | Columbia U.S. Treasury Index 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 U.S. Treasury Index Fund | Annual Report 2021 | 31 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 |
32 | Columbia U.S. Treasury Index 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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 U.S. Treasury Index Fund | Annual Report 2021 | 33 |
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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
34 | Columbia U.S. Treasury Index 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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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 U.S. Treasury Index Fund | Annual Report 2021 | 35 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
36 | Columbia U.S. Treasury Index 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.
April 30, 2021
3 | |
5 | |
7 | |
8 | |
23 | |
25 | |
26 | |
28 | |
32 | |
44 | |
45 | |
45 | |
51 | |
52 |
Average annual total returns (%) (for the period ended April 30, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/31/00 | 5.47 | 5.04 | 4.78 |
Including sales charges | 0.47 | 4.02 | 4.27 | ||
Advisor Class* | 11/08/12 | 5.83 | 5.30 | 5.05 | |
Class C | Excluding sales charges | 07/15/02 | 4.96 | 4.42 | 4.15 |
Including sales charges | 3.97 | 4.42 | 4.15 | ||
Institutional Class | 03/05/86 | 5.73 | 5.30 | 5.04 | |
Institutional 2 Class* | 11/08/12 | 5.94 | 5.43 | 5.15 | |
Institutional 3 Class* | 11/08/12 | 5.99 | 5.46 | 5.19 | |
Blended Benchmark | 6.66 | 5.23 | 5.18 | ||
Bloomberg Barclays U.S. Corporate Bond Index | 4.46 | 4.85 | 4.98 |
* | 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 Corporate Income Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at April 30, 2021) | |
Common Stocks | 0.0(a) |
Convertible Bonds | 0.0(a) |
Corporate Bonds & Notes | 96.5 |
Foreign Government Obligations | 0.0(a) |
Money Market Funds | 0.7 |
Senior Loans | 0.1 |
U.S. Treasury Obligations | 2.7 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2021) | |
AAA rating | 3.9 |
AA rating | 5.3 |
A rating | 29.8 |
BBB rating | 46.7 |
BB rating | 6.7 |
B rating | 5.8 |
CCC rating | 1.7 |
Not rated | 0.1 |
Total | 100.0 |
4 | Columbia Corporate Income Fund | Annual Report 2021 |
• | The Fund’s security selection detracted from performance. |
• | Selection in a life insurance company and an energy company were the primary drivers of underperformance during the period. |
• | Defensive positioning within the portfolio’s high-yield allocation was a notable detractor, given the strong risk rally during the period. |
• | The Fund’s relative overweight to credit within investment grade and high yield contributed to performance. |
• | The Fund’s sector allocation contributed slightly to performance as positive performance in the midstream, finance companies and life insurance sectors was mostly offset by negative performance in the electric, natural gas, and food & beverage sectors. |
Columbia Corporate Income Fund | Annual Report 2021 | 5 |
6 | Columbia Corporate Income Fund | Annual Report 2021 |
(Unaudited)
November 1, 2020 — April 30, 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 | 1,004.00 | 1,020.64 | 4.30 | 4.33 | 0.86 |
Advisor Class | 1,000.00 | 1,000.00 | 1,006.20 | 1,021.84 | 3.10 | 3.13 | 0.62 |
Class C | 1,000.00 | 1,000.00 | 1,002.20 | 1,017.85 | 7.09 | 7.14 | 1.42 |
Institutional Class | 1,000.00 | 1,000.00 | 1,005.30 | 1,021.89 | 3.05 | 3.07 | 0.61 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,006.70 | 1,022.34 | 2.60 | 2.62 | 0.52 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,006.90 | 1,022.59 | 2.35 | 2.37 | 0.47 |
Columbia Corporate Income Fund | Annual Report 2021 | 7 |
April 30, 2021
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Financials 0.0% | ||
Insurance 0.0% | ||
Mr. Cooper Group, Inc.(a) | 1,782 | 61,443 |
WMI Holdings Corp. Escrow(a),(b),(c) | 1,075 | — |
Total | 61,443 | |
Total Financials | 61,443 | |
Total Common Stocks (Cost $1,077,470) | 61,443 |
Convertible Bonds 0.0% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cable and Satellite 0.0% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 238,000 | 250,495 | |
Total Convertible Bonds (Cost $223,390) | 250,495 | |||
Corporate Bonds & Notes 96.1% | ||||
Aerospace & Defense 4.6% | ||||
BAE Systems PLC(d) | ||||
04/15/2030 | 3.400% | 3,615,000 | 3,859,873 | |
Boeing Co. (The) | ||||
03/01/2029 | 3.200% | 7,306,000 | 7,519,343 | |
08/01/2059 | 3.950% | 7,403,000 | 7,234,543 | |
Bombardier, Inc.(d) | ||||
10/15/2022 | 6.000% | 158,000 | 157,895 | |
12/01/2024 | 7.500% | 337,000 | 342,027 | |
Moog, Inc.(d) | ||||
12/15/2027 | 4.250% | 139,000 | 142,922 | |
Northrop Grumman Corp. | ||||
01/15/2028 | 3.250% | 25,458,000 | 27,530,711 | |
TransDigm, Inc.(d) | ||||
03/15/2026 | 6.250% | 2,391,000 | 2,531,676 | |
05/01/2029 | 4.875% | 664,000 | 654,164 | |
TransDigm, Inc. | ||||
06/15/2026 | 6.375% | 622,000 | 644,721 | |
11/15/2027 | 5.500% | 710,000 | 738,548 | |
United Technologies Corp. | ||||
11/16/2028 | 4.125% | 8,053,000 | 9,138,400 | |
06/01/2042 | 4.500% | 5,645,000 | 6,780,773 | |
Total | 67,275,596 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Airlines 0.2% | ||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(d) | ||||
04/20/2026 | 5.500% | 865,000 | 908,280 | |
04/20/2029 | 5.750% | 132,255 | 141,762 | |
Delta Air Lines, Inc. | ||||
01/15/2026 | 7.375% | 491,000 | 575,606 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(d) | ||||
01/20/2026 | 5.750% | 362,739 | 383,375 | |
United Airlines, Inc.(d) | ||||
04/15/2026 | 4.375% | 219,000 | 227,219 | |
04/15/2029 | 4.625% | 245,000 | 254,461 | |
Total | 2,490,703 | |||
Automotive 0.7% | ||||
American Axle & Manufacturing, Inc. | ||||
03/15/2026 | 6.250% | 441,000 | 453,218 | |
Clarios Global LP(d) | ||||
05/15/2025 | 6.750% | 88,000 | 94,457 | |
Ford Motor Co. | ||||
04/21/2023 | 8.500% | 68,000 | 76,162 | |
04/22/2025 | 9.000% | 486,000 | 593,695 | |
04/22/2030 | 9.625% | 20,000 | 28,056 | |
Ford Motor Credit Co. LLC | ||||
09/08/2024 | 3.664% | 1,168,000 | 1,216,055 | |
06/16/2025 | 5.125% | 256,000 | 279,702 | |
11/13/2025 | 3.375% | 1,251,000 | 1,281,829 | |
08/17/2027 | 4.125% | 554,000 | 579,189 | |
11/13/2030 | 4.000% | 464,000 | 473,605 | |
General Motors Co. | ||||
04/01/2048 | 5.400% | 1,595,000 | 1,924,773 | |
IAA Spinco, Inc.(d) | ||||
06/15/2027 | 5.500% | 910,000 | 956,746 | |
KAR Auction Services, Inc.(d) | ||||
06/01/2025 | 5.125% | 579,000 | 586,238 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(d) | ||||
05/15/2026 | 6.250% | 68,000 | 72,172 | |
05/15/2027 | 8.500% | 503,000 | 543,032 | |
Real Hero Merger Sub 2, Inc.(d) | ||||
02/01/2029 | 6.250% | 180,000 | 186,473 | |
Tenneco, Inc.(d) | ||||
01/15/2029 | 7.875% | 557,000 | 627,372 | |
04/15/2029 | 5.125% | 240,000 | 238,513 | |
Total | 10,211,287 |
8 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Banking 18.9% | ||||
Bank of America Corp.(e) | ||||
07/23/2031 | 1.898% | 16,190,000 | 15,367,212 | |
10/24/2031 | 1.922% | 34,690,000 | 32,946,164 | |
Bank of Nova Scotia (The) | ||||
04/15/2024 | 0.700% | 12,992,000 | 13,008,647 | |
Capital One Financial Corp. | ||||
01/31/2028 | 3.800% | 3,370,000 | 3,757,539 | |
Citigroup, Inc.(e) | ||||
06/03/2031 | 2.572% | 18,470,000 | 18,555,556 | |
Citigroup, Inc.(e),(f) | ||||
05/01/2032 | 2.561% | 6,029,000 | 6,023,791 | |
Goldman Sachs Group, Inc. (The)(e) | ||||
03/09/2027 | 1.431% | 8,321,000 | 8,289,904 | |
05/01/2029 | 4.223% | 18,350,000 | 20,770,688 | |
HSBC Holdings PLC(e) | ||||
08/18/2031 | 2.357% | 17,287,000 | 16,846,528 | |
JPMorgan Chase & Co.(e) | ||||
10/15/2030 | 2.739% | 41,010,000 | 42,083,248 | |
11/19/2031 | 1.764% | 3,635,000 | 3,423,141 | |
04/22/2032 | 2.580% | 5,480,000 | 5,503,398 | |
Morgan Stanley(e) | ||||
01/22/2031 | 2.699% | 2,825,000 | 2,887,264 | |
04/28/2032 | 1.928% | 20,813,000 | 19,740,963 | |
Royal Bank of Canada | ||||
01/19/2024 | 0.425% | 13,550,000 | 13,511,316 | |
Truist Financial Corp.(e) | ||||
03/02/2027 | 1.267% | 6,872,000 | 6,843,176 | |
Washington Mutual Bank(b),(c),(g) | ||||
Subordinated | ||||
01/15/2015 | 0.000% | 6,350,000 | 9,525 | |
Wells Fargo & Co. | ||||
10/23/2026 | 3.000% | 8,670,000 | 9,348,523 | |
Wells Fargo & Co.(e) | ||||
10/30/2030 | 2.879% | 8,235,000 | 8,545,830 | |
02/11/2031 | 2.572% | 27,360,000 | 27,663,837 | |
Total | 275,126,250 | |||
Brokerage/Asset Managers/Exchanges 0.1% | ||||
Aretec Escrow Issuer, Inc.(d) | ||||
04/01/2029 | 7.500% | 178,000 | 182,432 | |
Hightower Holding LLC(d) | ||||
04/15/2029 | 6.750% | 408,000 | 417,583 | |
NFP Corp.(d) | ||||
08/15/2028 | 6.875% | 1,093,000 | 1,145,969 | |
Total | 1,745,984 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Building Materials 0.4% | ||||
American Builders & Contractors Supply Co., Inc.(d) | ||||
05/15/2026 | 5.875% | 732,000 | 755,323 | |
01/15/2028 | 4.000% | 455,000 | 463,776 | |
Beacon Roofing Supply, Inc.(d) | ||||
11/01/2025 | 4.875% | 742,000 | 761,141 | |
11/15/2026 | 4.500% | 497,000 | 515,290 | |
Beacon Roofing Supply, Inc.(d),(f) | ||||
05/15/2029 | 4.125% | 291,000 | 290,333 | |
Core & Main LP(d) | ||||
08/15/2025 | 6.125% | 568,000 | 580,958 | |
CP Atlas Buyer Inc.(d) | ||||
12/01/2028 | 7.000% | 245,000 | 254,254 | |
Interface, Inc.(d) | ||||
12/01/2028 | 5.500% | 210,000 | 219,205 | |
James Hardie International Finance DAC(d) | ||||
01/15/2028 | 5.000% | 572,000 | 607,642 | |
White Cap Buyer LLC(d) | ||||
10/15/2028 | 6.875% | 567,000 | 601,865 | |
Total | 5,049,787 | |||
Cable and Satellite 3.1% | ||||
CCO Holdings LLC/Capital Corp.(d) | ||||
02/15/2026 | 5.750% | 335,000 | 346,222 | |
05/01/2027 | 5.125% | 324,000 | 339,356 | |
03/01/2030 | 4.750% | 1,263,000 | 1,317,856 | |
02/01/2031 | 4.250% | 1,353,000 | 1,353,179 | |
05/01/2032 | 4.500% | 381,000 | 384,919 | |
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 800,000 | 937,660 | |
03/01/2050 | 4.800% | 9,230,000 | 10,143,539 | |
04/01/2061 | 3.850% | 3,453,000 | 3,172,901 | |
Comcast Corp. | ||||
02/15/2031 | 1.500% | 15,605,000 | 14,513,787 | |
CSC Holdings LLC(d) | ||||
05/15/2026 | 5.500% | 802,000 | 824,648 | |
01/15/2030 | 5.750% | 664,000 | 706,309 | |
12/01/2030 | 4.125% | 1,316,000 | 1,309,337 | |
02/15/2031 | 3.375% | 504,000 | 473,819 | |
DISH DBS Corp. | ||||
07/01/2026 | 7.750% | 1,316,000 | 1,517,071 | |
NBCUniversal Media LLC | ||||
01/15/2043 | 4.450% | 2,965,000 | 3,570,237 | |
Radiate Holdco LLC/Finance, Inc.(d) | ||||
09/15/2028 | 6.500% | 405,000 | 422,588 | |
Sirius XM Radio, Inc.(d) | ||||
07/15/2024 | 4.625% | 385,000 | 396,088 | |
07/15/2026 | 5.375% | 545,000 | 562,804 | |
07/01/2030 | 4.125% | 461,000 | 461,243 |
Columbia Corporate Income Fund | Annual Report 2021 | 9 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Virgin Media Finance PLC(d) | ||||
07/15/2030 | 5.000% | 556,000 | 554,602 | |
Virgin Media Secured Finance PLC(d) | ||||
05/15/2029 | 5.500% | 168,000 | 179,440 | |
Ziggo Bond Co. BV(d) | ||||
02/28/2030 | 5.125% | 509,000 | 521,433 | |
Ziggo Bond Finance BV(d) | ||||
01/15/2027 | 6.000% | 501,000 | 525,754 | |
Ziggo BV(d) | ||||
01/15/2030 | 4.875% | 1,000,000 | 1,027,472 | |
Total | 45,562,264 | |||
Chemicals 0.7% | ||||
Axalta Coating Systems LLC(d) | ||||
02/15/2029 | 3.375% | 650,000 | 631,020 | |
Axalta Coating Systems LLC/Dutch Holding B BV(d) | ||||
06/15/2027 | 4.750% | 265,000 | 278,118 | |
Element Solutions, Inc.(d) | ||||
09/01/2028 | 3.875% | 533,000 | 531,758 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 818,000 | 832,373 | |
Herens Holdco Sarl(d),(f) | ||||
05/15/2028 | 4.750% | 116,000 | 116,000 | |
Illuminate Buyer LLC/Holdings IV, Inc.(d) | ||||
07/01/2028 | 9.000% | 276,000 | 309,106 | |
INEOS Group Holdings SA(d) | ||||
08/01/2024 | 5.625% | 398,000 | 400,757 | |
Innophos Holdings, Inc.(d) | ||||
02/15/2028 | 9.375% | 351,000 | 381,718 | |
Iris Holdings, Inc.(d),(h) | ||||
02/15/2026 | 8.750% | 245,000 | 251,627 | |
LYB International Finance III LLC | ||||
05/01/2050 | 4.200% | 1,105,000 | 1,210,218 | |
04/01/2051 | 3.625% | 1,655,000 | 1,658,148 | |
Minerals Technologies, Inc.(d) | ||||
07/01/2028 | 5.000% | 189,000 | 198,019 | |
PQ Corp.(d) | ||||
12/15/2025 | 5.750% | 247,000 | 253,352 | |
Starfruit Finco BV/US Holdco LLC(d) | ||||
10/01/2026 | 8.000% | 1,012,000 | 1,075,181 | |
WR Grace & Co.(d) | ||||
06/15/2027 | 4.875% | 1,635,000 | 1,704,361 | |
Total | 9,831,756 | |||
Construction Machinery 1.9% | ||||
Caterpillar Financial Services Corp. | ||||
03/01/2023 | 0.250% | 15,660,000 | 15,655,810 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
H&E Equipment Services, Inc.(d) | ||||
12/15/2028 | 3.875% | 720,000 | 705,897 | |
NESCO Holdings II, Inc.(d) | ||||
04/15/2029 | 5.500% | 259,000 | 266,770 | |
United Rentals North America, Inc. | ||||
09/15/2026 | 5.875% | 261,000 | 272,848 | |
05/15/2027 | 5.500% | 97,000 | 103,398 | |
11/15/2027 | 3.875% | 10,420,000 | 10,915,470 | |
02/15/2031 | 3.875% | 181,000 | 182,264 | |
Total | 28,102,457 | |||
Consumer Cyclical Services 0.2% | ||||
APX Group, Inc. | ||||
12/01/2022 | 7.875% | 354,000 | 355,668 | |
09/01/2023 | 7.625% | 181,000 | 186,057 | |
11/01/2024 | 8.500% | 400,000 | 417,244 | |
Frontdoor, Inc.(d) | ||||
08/15/2026 | 6.750% | 293,000 | 310,776 | |
Match Group, Inc.(d) | ||||
06/01/2028 | 4.625% | 174,000 | 179,617 | |
Staples, Inc.(d) | ||||
04/15/2026 | 7.500% | 254,000 | 263,064 | |
04/15/2027 | 10.750% | 56,000 | 57,938 | |
Uber Technologies, Inc.(d) | ||||
05/15/2025 | 7.500% | 778,000 | 840,803 | |
01/15/2028 | 6.250% | 257,000 | 278,962 | |
Total | 2,890,129 | |||
Consumer Products 0.2% | ||||
CD&R Smokey Buyer, Inc.(d) | ||||
07/15/2025 | 6.750% | 464,000 | 495,742 | |
Mattel, Inc.(d) | ||||
12/31/2025 | 6.750% | 51,000 | 53,625 | |
04/01/2026 | 3.375% | 171,000 | 177,052 | |
04/01/2029 | 3.750% | 532,000 | 544,331 | |
Mattel, Inc. | ||||
11/01/2041 | 5.450% | 54,000 | 61,723 | |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 92,000 | 101,913 | |
Prestige Brands, Inc.(d) | ||||
01/15/2028 | 5.125% | 509,000 | 533,531 | |
04/01/2031 | 3.750% | 237,000 | 227,334 | |
Spectrum Brands, Inc. | ||||
07/15/2025 | 5.750% | 209,000 | 215,093 | |
Total | 2,410,344 | |||
Diversified Manufacturing 1.8% | ||||
BWX Technologies, Inc.(d) | ||||
06/30/2028 | 4.125% | 231,000 | 235,565 |
10 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Carrier Global Corp. | ||||
02/15/2030 | 2.722% | 14,143,000 | 14,407,958 | |
04/05/2050 | 3.577% | 572,000 | 576,063 | |
CFX Escrow Corp.(d) | ||||
02/15/2026 | 6.375% | 273,000 | 290,941 | |
Gates Global LLC/Co.(d) | ||||
01/15/2026 | 6.250% | 807,000 | 846,033 | |
Resideo Funding, Inc.(d) | ||||
11/01/2026 | 6.125% | 336,000 | 354,928 | |
Siemens Financieringsmaatschappij NV(d) | ||||
03/11/2024 | 0.650% | 8,584,000 | 8,602,262 | |
Vertical US Newco, Inc.(d) | ||||
07/15/2027 | 5.250% | 526,000 | 552,082 | |
Welbilt, Inc. | ||||
02/15/2024 | 9.500% | 103,000 | 108,302 | |
WESCO Distribution, Inc.(d) | ||||
06/15/2025 | 7.125% | 302,000 | 326,921 | |
06/15/2028 | 7.250% | 558,000 | 619,099 | |
Total | 26,920,154 | |||
Electric 14.2% | ||||
AEP Texas, Inc. | ||||
01/15/2050 | 3.450% | 9,850,000 | 9,893,192 | |
Berkshire Hathaway Energy Co. | ||||
10/15/2050 | 4.250% | 1,135,000 | 1,332,134 | |
Calpine Corp.(d) | ||||
02/15/2028 | 4.500% | 357,000 | 360,644 | |
03/15/2028 | 5.125% | 292,000 | 296,752 | |
CenterPoint Energy, Inc. | ||||
09/01/2024 | 2.500% | 3,517,000 | 3,692,230 | |
Clearway Energy Operating LLC(d) | ||||
03/15/2028 | 4.750% | 2,560,000 | 2,684,256 | |
02/15/2031 | 3.750% | 1,052,000 | 1,036,983 | |
CMS Energy Corp. | ||||
03/01/2024 | 3.875% | 8,145,000 | 8,766,955 | |
11/15/2025 | 3.600% | 8,564,000 | 9,346,114 | |
Consolidated Edison Co. of New York, Inc. | ||||
06/15/2046 | 3.850% | 900,000 | 969,019 | |
Dominion Energy, Inc. | ||||
04/01/2030 | 3.375% | 5,434,000 | 5,853,755 | |
DTE Energy Co. | ||||
10/01/2026 | 2.850% | 1,361,000 | 1,451,311 | |
06/15/2029 | 3.400% | 7,935,000 | 8,528,302 | |
Duke Energy Corp. | ||||
10/15/2023 | 3.950% | 6,183,000 | 6,641,884 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 4,303,000 | 4,940,956 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Eversource Energy | ||||
10/01/2024 | 2.900% | 5,000,000 | 5,325,336 | |
01/15/2025 | 3.150% | 2,695,000 | 2,885,890 | |
08/15/2030 | 1.650% | 16,741,000 | 15,731,609 | |
Exelon Corp. | ||||
04/15/2050 | 4.700% | 3,825,000 | 4,642,301 | |
Georgia Power Co. | ||||
07/30/2023 | 2.100% | 13,854,000 | 14,324,733 | |
03/15/2042 | 4.300% | 14,285,000 | 16,444,406 | |
NextEra Energy Operating Partners LP(d) | ||||
09/15/2027 | 4.500% | 425,000 | 459,574 | |
NRG Energy, Inc. | ||||
01/15/2027 | 6.625% | 484,000 | 504,181 | |
01/15/2028 | 5.750% | 7,000 | 7,434 | |
NRG Energy, Inc.(d) | ||||
06/15/2029 | 5.250% | 2,298,000 | 2,461,578 | |
02/15/2031 | 3.625% | 600,000 | 587,891 | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 9,570,000 | 9,789,600 | |
Pinnacle West Capital Corp. | ||||
06/15/2025 | 1.300% | 8,845,000 | 8,889,978 | |
Progress Energy, Inc. | ||||
04/01/2022 | 3.150% | 13,000,000 | 13,244,262 | |
San Diego Gas & Electric Co. | ||||
04/15/2050 | 3.320% | 2,620,000 | 2,687,758 | |
Sierra Pacific Power Co. | ||||
05/01/2026 | 2.600% | 4,610,000 | 4,880,203 | |
Southern California Edison Co. | ||||
10/01/2043 | 4.650% | 295,000 | 339,353 | |
04/01/2047 | 4.000% | 1,665,000 | 1,740,813 | |
Vistra Operations Co. LLC(d) | ||||
09/01/2026 | 5.500% | 159,000 | 164,337 | |
02/15/2027 | 5.625% | 408,000 | 424,776 | |
07/31/2027 | 5.000% | 252,000 | 261,040 | |
WEC Energy Group, Inc. | ||||
09/15/2023 | 0.550% | 4,735,000 | 4,737,279 | |
06/15/2025 | 3.550% | 12,292,000 | 13,385,069 | |
10/15/2027 | 1.375% | 7,695,000 | 7,497,416 | |
Xcel Energy, Inc. | ||||
12/01/2026 | 3.350% | 1,200,000 | 1,312,310 | |
12/01/2049 | 3.500% | 7,935,000 | 8,128,804 | |
Total | 206,652,418 | |||
Environmental 0.4% | ||||
GFL Environmental, Inc.(d) | ||||
06/01/2025 | 4.250% | 95,000 | 98,301 | |
08/01/2025 | 3.750% | 290,000 | 295,009 | |
12/15/2026 | 5.125% | 364,000 | 382,252 | |
05/01/2027 | 8.500% | 2,136,000 | 2,347,339 | |
08/01/2028 | 4.000% | 280,000 | 267,935 |
Columbia Corporate Income Fund | Annual Report 2021 | 11 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Waste Management, Inc. | ||||
03/15/2031 | 1.500% | 2,075,000 | 1,915,581 | |
Waste Pro USA, Inc.(d) | ||||
02/15/2026 | 5.500% | 768,000 | 786,799 | |
Total | 6,093,216 | |||
Finance Companies 1.4% | ||||
GE Capital International Funding Co. Unlimited Co. | ||||
11/15/2035 | 4.418% | 15,245,000 | 17,535,343 | |
Global Aircraft Leasing Co., Ltd.(d),(h) | ||||
09/15/2024 | 6.500% | 228,722 | 227,158 | |
Navient Corp. | ||||
01/25/2023 | 5.500% | 508,000 | 531,677 | |
10/25/2024 | 5.875% | 111,000 | 117,223 | |
03/15/2028 | 4.875% | 224,000 | 219,486 | |
Provident Funding Associates LP/Finance Corp.(d) | ||||
06/15/2025 | 6.375% | 383,000 | 385,083 | |
Quicken Loans LLC/Co-Issuer, Inc.(d) | ||||
03/01/2029 | 3.625% | 321,000 | 312,337 | |
Springleaf Finance Corp. | ||||
03/15/2024 | 6.125% | 585,000 | 631,932 | |
06/01/2025 | 8.875% | 102,000 | 113,030 | |
Total | 20,073,269 | |||
Food and Beverage 4.6% | ||||
Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | ||||
02/01/2046 | 4.900% | 22,096,000 | 26,396,211 | |
Bacardi Ltd.(d) | ||||
05/15/2048 | 5.300% | 6,960,000 | 8,679,855 | |
Conagra Brands, Inc. | ||||
11/01/2048 | 5.400% | 1,980,000 | 2,564,154 | |
FAGE International SA/USA Dairy Industry, Inc.(d) | ||||
08/15/2026 | 5.625% | 956,000 | 988,077 | |
Kraft Heinz Foods Co. | ||||
06/01/2046 | 4.375% | 5,601,000 | 5,999,518 | |
Mars, Inc.(d) | ||||
04/01/2059 | 4.200% | 3,200,000 | 3,764,830 | |
Molson Coors Brewing Co. | ||||
07/15/2046 | 4.200% | 670,000 | 712,274 | |
Mondelez International, Inc. | ||||
05/04/2025 | 1.500% | 11,610,000 | 11,854,316 | |
Pilgrim’s Pride Corp.(d) | ||||
09/30/2027 | 5.875% | 261,000 | 277,768 | |
04/15/2031 | 4.250% | 888,000 | 897,302 | |
Post Holdings, Inc.(d) | ||||
03/01/2027 | 5.750% | 2,596,000 | 2,720,338 | |
04/15/2030 | 4.625% | 736,000 | 742,934 | |
09/15/2031 | 4.500% | 523,000 | 519,314 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Primo Water Holdings, Inc.(d) | ||||
04/30/2029 | 4.375% | 309,000 | 308,124 | |
Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed(d) | ||||
03/01/2029 | 4.625% | 283,000 | 285,137 | |
Triton Water Holdings, Inc.(d) | ||||
04/01/2029 | 6.250% | 301,000 | 304,723 | |
US Foods, Inc.(d) | ||||
02/15/2029 | 4.750% | 523,000 | 529,487 | |
Total | 67,544,362 | |||
Gaming 0.4% | ||||
Boyd Gaming Corp.(d) | ||||
06/01/2025 | 8.625% | 90,000 | 99,661 | |
Boyd Gaming Corp. | ||||
04/01/2026 | 6.375% | 127,000 | 131,139 | |
08/15/2026 | 6.000% | 8,000 | 8,296 | |
Caesars Resort Collection LLC/CRC Finco, Inc.(d) | ||||
10/15/2025 | 5.250% | 716,000 | 722,201 | |
Colt Merger Sub, Inc.(d) | ||||
07/01/2025 | 5.750% | 607,000 | 639,571 | |
07/01/2025 | 6.250% | 682,000 | 725,271 | |
07/01/2027 | 8.125% | 56,000 | 62,245 | |
International Game Technology PLC(d) | ||||
04/15/2026 | 4.125% | 203,000 | 209,176 | |
MGM Growth Properties Operating Partnership LP/Finance Co-Issuer, Inc.(d) | ||||
06/15/2025 | 4.625% | 166,000 | 176,816 | |
MGM Growth Properties Operating Partnership LP/Finance Co-Issuer, Inc. | ||||
02/01/2027 | 5.750% | 154,000 | 171,955 | |
Midwest Gaming Borrower LLC(d) | ||||
05/01/2029 | 4.875% | 578,000 | 577,813 | |
Scientific Games International, Inc.(d) | ||||
10/15/2025 | 5.000% | 922,000 | 952,164 | |
03/15/2026 | 8.250% | 378,000 | 408,413 | |
11/15/2029 | 7.250% | 579,000 | 637,510 | |
VICI Properties LP/Note Co., Inc.(d) | ||||
12/01/2026 | 4.250% | 176,000 | 181,979 | |
Wynn Las Vegas LLC/Capital Corp.(d) | ||||
03/01/2025 | 5.500% | 92,000 | 98,002 | |
Wynn Resorts Finance LLC/Capital Corp.(d) | ||||
04/15/2025 | 7.750% | 94,000 | 101,474 | |
Total | 5,903,686 | |||
Health Care 3.6% | ||||
Acadia Healthcare Co., Inc.(d) | ||||
07/01/2028 | 5.500% | 1,258,000 | 1,331,659 | |
04/15/2029 | 5.000% | 109,000 | 112,658 | |
Avantor Funding, Inc.(d) | ||||
07/15/2028 | 4.625% | 914,000 | 957,161 |
12 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Becton Dickinson and Co. | ||||
06/06/2024 | 3.363% | 12,575,000 | 13,541,580 | |
02/11/2031 | 1.957% | 6,540,000 | 6,234,068 | |
Charles River Laboratories International, Inc.(d) | ||||
03/15/2029 | 3.750% | 148,000 | 150,597 | |
03/15/2031 | 4.000% | 119,000 | 122,412 | |
CHS/Community Health Systems, Inc.(d) | ||||
02/15/2025 | 6.625% | 323,000 | 340,891 | |
03/15/2026 | 8.000% | 394,000 | 424,270 | |
04/15/2029 | 6.875% | 279,000 | 291,844 | |
Cigna Corp. | ||||
10/15/2028 | 4.375% | 12,450,000 | 14,254,623 | |
CVS Health Corp. | ||||
03/25/2048 | 5.050% | 5,435,000 | 6,688,731 | |
HCA, Inc. | ||||
02/01/2029 | 5.875% | 863,000 | 1,016,936 | |
09/01/2030 | 3.500% | 730,000 | 749,751 | |
Hill-Rom Holdings, Inc.(d) | ||||
02/15/2025 | 5.000% | 212,000 | 217,555 | |
RP Escrow Issuer LLC(d) | ||||
12/15/2025 | 5.250% | 505,000 | 525,315 | |
Select Medical Corp.(d) | ||||
08/15/2026 | 6.250% | 1,121,000 | 1,192,097 | |
Teleflex, Inc. | ||||
06/01/2026 | 4.875% | 286,000 | 293,297 | |
Tenet Healthcare Corp. | ||||
06/15/2023 | 6.750% | 109,000 | 119,007 | |
Tenet Healthcare Corp.(d) | ||||
01/01/2026 | 4.875% | 405,000 | 420,702 | |
02/01/2027 | 6.250% | 319,000 | 334,472 | |
11/01/2027 | 5.125% | 1,793,000 | 1,884,536 | |
10/01/2028 | 6.125% | 674,000 | 709,767 | |
US Acute Care Solutions LLC(d) | ||||
03/01/2026 | 6.375% | 218,000 | 227,467 | |
Total | 52,141,396 | |||
Healthcare Insurance 0.6% | ||||
Aetna, Inc. | ||||
08/15/2047 | 3.875% | 2,502,000 | 2,670,240 | |
Centene Corp.(d) | ||||
06/01/2026 | 5.375% | 407,000 | 424,383 | |
Centene Corp. | ||||
02/15/2030 | 3.375% | 3,674,000 | 3,692,683 | |
10/15/2030 | 3.000% | 2,046,000 | 2,031,043 | |
03/01/2031 | 2.500% | 612,000 | 585,360 | |
Total | 9,403,709 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Home Construction 0.1% | ||||
Meritage Homes Corp. | ||||
06/01/2025 | 6.000% | 330,000 | 375,619 | |
Meritage Homes Corp.(d) | ||||
04/15/2029 | 3.875% | 423,000 | 434,787 | |
Shea Homes LP/Funding Corp.(d) | ||||
02/15/2028 | 4.750% | 171,000 | 174,510 | |
04/01/2029 | 4.750% | 65,000 | 65,932 | |
Taylor Morrison Communities, Inc.(d) | ||||
01/15/2028 | 5.750% | 193,000 | 217,765 | |
08/01/2030 | 5.125% | 355,000 | 390,425 | |
Total | 1,659,038 | |||
Independent Energy 1.3% | ||||
Apache Corp. | ||||
11/15/2027 | 4.875% | 190,000 | 200,393 | |
02/01/2042 | 5.250% | 748,000 | 778,538 | |
04/15/2043 | 4.750% | 403,000 | 400,325 | |
Callon Petroleum Co. | ||||
07/01/2026 | 6.375% | 922,000 | 806,551 | |
Canadian Natural Resources Ltd. | ||||
06/01/2027 | 3.850% | 4,885,000 | 5,341,010 | |
Carrizo Oil & Gas, Inc. | ||||
04/15/2023 | 6.250% | 179,000 | 170,026 | |
CNX Resources Corp.(d) | ||||
03/14/2027 | 7.250% | 610,000 | 658,728 | |
01/15/2029 | 6.000% | 277,000 | 295,022 | |
Comstock Resources, Inc. | ||||
08/15/2026 | 9.750% | 152,000 | 164,847 | |
08/15/2026 | 9.750% | 89,000 | 96,774 | |
Comstock Resources, Inc.(d) | ||||
03/01/2029 | 6.750% | 235,000 | 240,070 | |
Continental Resources, Inc.(d) | ||||
01/15/2031 | 5.750% | 283,000 | 328,308 | |
CrownRock LP/Finance, Inc.(d) | ||||
10/15/2025 | 5.625% | 219,000 | 226,677 | |
05/01/2029 | 5.000% | 153,000 | 156,594 | |
Double Eagle III Midco 1 LLC/Finance Corp.(d) | ||||
12/15/2025 | 7.750% | 686,000 | 775,956 | |
Encana Corp. | ||||
08/15/2034 | 6.500% | 19,000 | 24,223 | |
Endeavor Energy Resources LP/Finance, Inc.(d) | ||||
01/30/2028 | 5.750% | 364,000 | 388,440 | |
EQT Corp. | ||||
01/15/2029 | 5.000% | 252,000 | 275,132 | |
EQT Corp.(e) | ||||
02/01/2030 | 8.750% | 510,000 | 652,165 |
Columbia Corporate Income Fund | Annual Report 2021 | 13 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Hilcorp Energy I LP/Finance Co.(d) | ||||
02/01/2029 | 5.750% | 281,000 | 286,805 | |
02/01/2031 | 6.000% | 300,000 | 311,061 | |
Indigo Natural Resources LLC(d) | ||||
02/01/2029 | 5.375% | 227,000 | 225,275 | |
Matador Resources Co. | ||||
09/15/2026 | 5.875% | 890,000 | 887,294 | |
MEG Energy Corp.(d) | ||||
02/01/2029 | 5.875% | 172,000 | 176,380 | |
Newfield Exploration Co. | ||||
07/01/2024 | 5.625% | 32,000 | 35,655 | |
01/01/2026 | 5.375% | 270,000 | 302,483 | |
Occidental Petroleum Corp. | ||||
08/15/2024 | 2.900% | 365,000 | 364,141 | |
07/15/2025 | 8.000% | 786,000 | 917,433 | |
09/01/2030 | 6.625% | 593,000 | 677,054 | |
01/01/2031 | 6.125% | 648,000 | 722,287 | |
09/15/2036 | 6.450% | 208,000 | 236,814 | |
03/15/2046 | 6.600% | 1,048,000 | 1,163,355 | |
04/15/2046 | 4.400% | 118,000 | 104,278 | |
08/15/2049 | 4.400% | 235,000 | 204,571 | |
Ovintiv, Inc. | ||||
11/01/2031 | 7.200% | 45,000 | 58,569 | |
SM Energy Co. | ||||
06/01/2025 | 5.625% | 85,000 | 81,170 | |
09/15/2026 | 6.750% | 450,000 | 436,500 | |
01/15/2027 | 6.625% | 394,000 | 380,527 | |
Total | 19,551,431 | |||
Integrated Energy 0.3% | ||||
BP Capital Markets America, Inc. | ||||
02/08/2061 | 3.379% | 1,455,000 | 1,382,572 | |
Cenovus Energy, Inc. | ||||
07/15/2025 | 5.375% | 144,000 | 163,630 | |
04/15/2027 | 4.250% | 10,000 | 10,983 | |
11/15/2039 | 6.750% | 250,000 | 317,459 | |
Chevron USA, Inc. | ||||
11/15/2043 | 5.250% | 348,000 | 457,159 | |
Suncor Energy, Inc. | ||||
11/15/2047 | 4.000% | 650,000 | 677,863 | |
Total Capital International SA | ||||
06/29/2060 | 3.386% | 975,000 | 956,327 | |
Total | 3,965,993 | |||
Leisure 0.4% | ||||
Boyne USA, Inc.(d) | ||||
05/15/2029 | 4.750% | 117,000 | 120,244 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Carnival Corp.(d) | ||||
03/01/2026 | 7.625% | 216,000 | 236,554 | |
03/01/2027 | 5.750% | 867,000 | 915,079 | |
08/01/2027 | 9.875% | 389,000 | 457,753 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. | ||||
06/01/2024 | 5.375% | 211,000 | 212,847 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Operations LLC(d) | ||||
05/01/2025 | 5.500% | 300,000 | 314,923 | |
10/01/2028 | 6.500% | 472,000 | 506,877 | |
Cinemark USA, Inc. | ||||
06/01/2023 | 4.875% | 390,000 | 389,509 | |
Cinemark USA, Inc.(d) | ||||
05/01/2025 | 8.750% | 121,000 | 131,706 | |
03/15/2026 | 5.875% | 481,000 | 499,067 | |
Live Nation Entertainment, Inc.(d) | ||||
05/15/2027 | 6.500% | 258,000 | 286,419 | |
10/15/2027 | 4.750% | 156,000 | 157,442 | |
NCL Corp Ltd.(d) | ||||
03/15/2026 | 5.875% | 210,000 | 219,977 | |
NCL Finance Ltd.(d) | ||||
03/15/2028 | 6.125% | 117,000 | 123,295 | |
Royal Caribbean Cruises Ltd.(d) | ||||
06/15/2023 | 9.125% | 143,000 | 157,716 | |
04/01/2028 | 5.500% | 388,000 | 406,910 | |
Royal Caribbean Cruises Ltd. | ||||
03/15/2028 | 3.700% | 172,000 | 163,339 | |
Silversea Cruise Finance Ltd.(d) | ||||
02/01/2025 | 7.250% | 280,000 | 289,692 | |
Six Flags Entertainment Corp.(d) | ||||
07/31/2024 | 4.875% | 471,000 | 475,901 | |
Viking Cruises Ltd.(d) | ||||
09/15/2027 | 5.875% | 362,000 | 354,788 | |
Total | 6,420,038 | |||
Life Insurance 9.3% | ||||
AIG Global Funding(d) | ||||
09/22/2025 | 0.900% | 6,680,000 | 6,581,152 | |
Five Corners Funding Trust(d) | ||||
11/15/2023 | 4.419% | 23,065,000 | 25,275,432 | |
Guardian Life Global Funding(d) | ||||
12/10/2025 | 0.875% | 13,510,000 | 13,302,384 | |
Guardian Life Insurance Co. of America (The)(d) | ||||
Subordinated | ||||
06/19/2064 | 4.875% | 980,000 | 1,203,623 | |
Massachusetts Mutual Life Insurance Co.(d) | ||||
Subordinated | ||||
10/15/2070 | 3.729% | 3,418,000 | 3,446,161 |
14 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
New York Life Global Funding(d) | ||||
01/15/2026 | 0.850% | 9,189,000 | 9,054,608 | |
Northwestern Mutual Global Funding(d) | ||||
01/14/2026 | 0.800% | 8,667,000 | 8,527,492 | |
Northwestern Mutual Life Insurance Co. (The)(d) | ||||
Subordinated | ||||
09/30/2059 | 3.625% | 6,508,000 | 6,770,060 | |
Pacific Life Global Funding II(d) | ||||
09/23/2023 | 0.500% | 4,635,000 | 4,641,645 | |
04/14/2026 | 1.375% | 17,139,000 | 17,148,537 | |
Peachtree Corners Funding Trust(d) | ||||
02/15/2025 | 3.976% | 16,462,000 | 18,084,658 | |
Principal Life Global Funding II(d) | ||||
11/21/2024 | 2.250% | 7,165,000 | 7,507,975 | |
Teachers Insurance & Annuity Association of America(d) | ||||
Subordinated | ||||
09/15/2044 | 4.900% | 4,715,000 | 5,879,597 | |
05/15/2050 | 3.300% | 5,788,000 | 5,734,177 | |
Voya Financial, Inc. | ||||
06/15/2046 | 4.800% | 1,895,000 | 2,314,727 | |
Total | 135,472,228 | |||
Lodging 0.0% | ||||
Hilton Domestic Operating Co., Inc.(d) | ||||
05/01/2025 | 5.375% | 310,000 | 326,150 | |
Media and Entertainment 1.2% | ||||
Clear Channel International BV(d) | ||||
08/01/2025 | 6.625% | 274,000 | 287,898 | |
Clear Channel Outdoor Holdings, Inc.(d) | ||||
04/15/2028 | 7.750% | 543,000 | 559,115 | |
Clear Channel Worldwide Holdings, Inc. | ||||
02/15/2024 | 9.250% | 179,000 | 186,562 | |
Diamond Sports Group LLC/Finance Co.(d) | ||||
08/15/2026 | 5.375% | 204,000 | 148,865 | |
08/15/2027 | 6.625% | 79,000 | 42,662 | |
Discovery Communications LLC | ||||
05/15/2049 | 5.300% | 1,432,000 | 1,713,633 | |
Fox Corp. | ||||
01/25/2049 | 5.576% | 520,000 | 669,289 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 261,962 | 278,740 | |
05/01/2027 | 8.375% | 884,518 | 948,328 | |
iHeartCommunications, Inc.(d) | ||||
08/15/2027 | 5.250% | 102,000 | 105,568 | |
01/15/2028 | 4.750% | 749,000 | 764,602 | |
Lamar Media Corp. | ||||
02/15/2028 | 3.750% | 404,000 | 407,472 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Netflix, Inc. | ||||
11/15/2028 | 5.875% | 995,000 | 1,211,238 | |
05/15/2029 | 6.375% | 388,000 | 488,884 | |
Netflix, Inc.(d) | ||||
11/15/2029 | 5.375% | 247,000 | 293,394 | |
06/15/2030 | 4.875% | 725,000 | 841,097 | |
Nexstar Broadcasting, Inc.(d) | ||||
11/01/2028 | 4.750% | 165,000 | 167,978 | |
Nielsen Finance LLC/Co.(d) | ||||
10/01/2028 | 5.625% | 224,000 | 238,840 | |
Outfront Media Capital LLC/Corp.(d) | ||||
01/15/2029 | 4.250% | 216,000 | 214,196 | |
03/15/2030 | 4.625% | 367,000 | 364,677 | |
Playtika Holding Corp.(d) | ||||
03/15/2029 | 4.250% | 283,000 | 281,414 | |
Scripps Escrow, Inc.(d) | ||||
07/15/2027 | 5.875% | 164,000 | 172,441 | |
ViacomCBS, Inc. | ||||
01/15/2031 | 4.950% | 1,330,000 | 1,565,226 | |
05/19/2032 | 4.200% | 2,385,000 | 2,659,750 | |
Walt Disney Co. (The) | ||||
09/15/2044 | 4.750% | 2,235,000 | 2,798,822 | |
Total | 17,410,691 | |||
Metals and Mining 0.5% | ||||
Alcoa Nederland Holding BV(d) | ||||
03/31/2029 | 4.125% | 194,000 | 199,205 | |
Constellium NV(d) | ||||
02/15/2026 | 5.875% | 624,000 | 643,479 | |
Constellium SE(d) | ||||
06/15/2028 | 5.625% | 893,000 | 948,856 | |
04/15/2029 | 3.750% | 491,000 | 480,541 | |
Freeport-McMoRan, Inc. | ||||
09/01/2029 | 5.250% | 386,000 | 428,022 | |
03/15/2043 | 5.450% | 1,001,000 | 1,222,353 | |
Hudbay Minerals, Inc.(d) | ||||
04/01/2026 | 4.500% | 344,000 | 348,883 | |
04/01/2029 | 6.125% | 403,000 | 429,475 | |
Novelis Corp.(d) | ||||
09/30/2026 | 5.875% | 1,999,000 | 2,085,503 | |
01/30/2030 | 4.750% | 836,000 | 871,034 | |
Total | 7,657,351 | |||
Midstream 3.3% | ||||
Cheniere Energy Partners LP | ||||
10/01/2026 | 5.625% | 419,000 | 436,808 | |
Cheniere Energy Partners LP(d) | ||||
03/01/2031 | 4.000% | 283,000 | 287,973 |
Columbia Corporate Income Fund | Annual Report 2021 | 15 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cheniere Energy, Inc.(d) | ||||
10/15/2028 | 4.625% | 567,000 | 591,174 | |
DCP Midstream Operating LP | ||||
05/15/2029 | 5.125% | 341,000 | 365,892 | |
04/01/2044 | 5.600% | 230,000 | 236,625 | |
Energy Transfer Operating LP | ||||
03/15/2023 | 4.250% | 260,000 | 273,880 | |
05/15/2050 | 5.000% | 2,770,000 | 2,923,966 | |
Enterprise Products Operating LLC | ||||
01/31/2060 | 3.950% | 2,710,000 | 2,726,592 | |
EQM Midstream Partners LP(d) | ||||
07/01/2025 | 6.000% | 212,000 | 231,462 | |
07/01/2027 | 6.500% | 307,000 | 338,777 | |
01/15/2029 | 4.500% | 333,000 | 330,753 | |
01/15/2031 | 4.750% | 424,000 | 419,991 | |
Kinder Morgan Energy Partners LP | ||||
03/01/2043 | 5.000% | 5,946,000 | 6,825,648 | |
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 1,724,000 | 1,985,388 | |
MPLX LP | ||||
04/15/2048 | 4.700% | 8,185,000 | 8,980,711 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 182,000 | 195,890 | |
06/01/2026 | 6.000% | 132,000 | 142,978 | |
04/28/2027 | 5.625% | 247,000 | 260,681 | |
10/01/2030 | 6.375% | 198,000 | 218,018 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 6,975,000 | 6,713,092 | |
Sunoco LP/Finance Corp. | ||||
04/15/2027 | 6.000% | 316,000 | 331,957 | |
Superior Plus LP/General Partner, Inc.(d) | ||||
03/15/2029 | 4.500% | 232,000 | 236,901 | |
Targa Resources Partners LP/Finance Corp. | ||||
04/15/2026 | 5.875% | 348,000 | 364,443 | |
02/01/2027 | 5.375% | 123,000 | 128,079 | |
01/15/2028 | 5.000% | 357,000 | 375,747 | |
03/01/2030 | 5.500% | 869,000 | 940,463 | |
Targa Resources Partners LP/Finance Corp.(d) | ||||
02/01/2031 | 4.875% | 242,000 | 253,265 | |
01/15/2032 | 4.000% | 301,000 | 295,682 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 363,000 | 365,722 | |
Western Gas Partners LP | ||||
08/15/2048 | 5.500% | 2,776,000 | 2,855,667 | |
Williams Companies, Inc. (The) | ||||
09/15/2045 | 5.100% | 6,364,000 | 7,384,280 | |
Total | 48,018,505 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Natural Gas 2.1% | ||||
NiSource, Inc. | ||||
09/01/2029 | 2.950% | 20,660,000 | 21,549,676 | |
05/15/2047 | 4.375% | 7,690,000 | 8,886,666 | |
Total | 30,436,342 | |||
Oil Field Services 0.1% | ||||
Apergy Corp. | ||||
05/01/2026 | 6.375% | 149,000 | 156,170 | |
Nabors Industries Ltd.(d) | ||||
01/15/2026 | 7.250% | 220,000 | 196,427 | |
Transocean Guardian Ltd.(d) | ||||
01/15/2024 | 5.875% | 91,350 | 85,616 | |
Transocean Poseidon Ltd.(d) | ||||
02/01/2027 | 6.875% | 104,000 | 98,410 | |
Transocean Sentry Ltd.(d) | ||||
05/15/2023 | 5.375% | 458,236 | 435,989 | |
Total | 972,612 | |||
Other Financial Institutions 0.0% | ||||
Icahn Enterprises LP/Finance Corp.(d) | ||||
05/15/2027 | 5.250% | 120,000 | 122,851 | |
Other Industry 0.0% | ||||
Dycom Industries, Inc.(d) | ||||
04/15/2029 | 4.500% | 286,000 | 290,736 | |
Hillenbrand, Inc. | ||||
03/01/2031 | 3.750% | 215,000 | 211,830 | |
Total | 502,566 | |||
Other REIT 0.2% | ||||
Hospitality Properties Trust | ||||
03/15/2024 | 4.650% | 209,000 | 211,732 | |
Ladder Capital Finance Holdings LLLP/Corp.(d) | ||||
03/15/2022 | 5.250% | 1,084,000 | 1,088,625 | |
10/01/2025 | 5.250% | 682,000 | 691,154 | |
02/01/2027 | 4.250% | 346,000 | 338,836 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(d) | ||||
10/01/2028 | 5.875% | 384,000 | 407,414 | |
RHP Hotel Properties LP/Finance Corp.(d) | ||||
02/15/2029 | 4.500% | 216,000 | 214,188 | |
Service Properties Trust | ||||
10/01/2024 | 4.350% | 98,000 | 97,753 | |
12/15/2027 | 5.500% | 129,000 | 135,706 | |
Total | 3,185,408 | |||
Packaging 0.2% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(d) | ||||
09/01/2029 | 4.000% | 769,000 | 765,648 |
16 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Ardagh Packaging Finance PLC/Holdings USA, Inc.(d) | ||||
08/15/2026 | 4.125% | 594,000 | 611,018 | |
08/15/2027 | 5.250% | 420,000 | 429,421 | |
08/15/2027 | 5.250% | 366,000 | 373,524 | |
Flex Acquisition Co., Inc.(d) | ||||
07/15/2026 | 7.875% | 299,000 | 312,681 | |
Trivium Packaging Finance BV(d) | ||||
08/15/2026 | 5.500% | 178,000 | 186,107 | |
08/15/2027 | 8.500% | 399,000 | 429,598 | |
Total | 3,107,997 | |||
Pharmaceuticals 2.5% | ||||
AbbVie, Inc. | ||||
11/06/2042 | 4.400% | 5,525,000 | 6,397,661 | |
11/21/2049 | 4.250% | 7,458,000 | 8,473,212 | |
Amgen, Inc. | ||||
02/21/2040 | 3.150% | 3,515,000 | 3,523,775 | |
02/21/2050 | 3.375% | 1,784,000 | 1,772,742 | |
Bausch Health Companies, Inc.(d) | ||||
03/15/2024 | 7.000% | 222,000 | 227,683 | |
04/15/2025 | 6.125% | 438,000 | 447,721 | |
04/01/2026 | 9.250% | 269,000 | 297,944 | |
01/31/2027 | 8.500% | 253,000 | 281,684 | |
01/15/2028 | 7.000% | 514,000 | 561,610 | |
02/15/2029 | 5.000% | 529,000 | 529,505 | |
02/15/2029 | 6.250% | 269,000 | 284,539 | |
02/15/2031 | 5.250% | 649,000 | 649,867 | |
Bristol-Myers Squibb Co. | ||||
10/26/2049 | 4.250% | 3,345,000 | 3,966,156 | |
Endo Dac/Finance LLC/Finco, Inc.(d) | ||||
07/31/2027 | 9.500% | 176,000 | 186,555 | |
06/30/2028 | 6.000% | 260,000 | 198,736 | |
Endo Luxembourg Finance Co I Sarl/US, Inc.(d) | ||||
04/01/2029 | 6.125% | 356,000 | 352,439 | |
Gilead Sciences, Inc. | ||||
10/01/2040 | 2.600% | 3,100,000 | 2,852,052 | |
10/01/2050 | 2.800% | 2,915,000 | 2,601,505 | |
Jazz Securities DAC(d) | ||||
01/15/2029 | 4.375% | 225,000 | 230,036 | |
Mylan NV | ||||
06/15/2046 | 5.250% | 585,000 | 682,552 | |
Organon Finance 1 LLC(d) | ||||
04/30/2028 | 4.125% | 918,000 | 941,558 | |
04/30/2031 | 5.125% | 683,000 | 708,624 | |
Par Pharmaceutical, Inc.(d) | ||||
04/01/2027 | 7.500% | 520,000 | 547,047 | |
Total | 36,715,203 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Property & Casualty 0.5% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(d) | ||||
10/15/2027 | 6.750% | 585,000 | 615,445 | |
American International Group, Inc. | ||||
07/10/2025 | 3.750% | 3,970,000 | 4,371,764 | |
AssuredPartners, Inc.(d) | ||||
01/15/2029 | 5.625% | 391,000 | 396,244 | |
Berkshire Hathaway Finance Corp. | ||||
10/15/2050 | 2.850% | 830,000 | 786,398 | |
BroadStreet Partners, Inc.(d) | ||||
04/15/2029 | 5.875% | 445,000 | 451,900 | |
HUB International Ltd.(d) | ||||
05/01/2026 | 7.000% | 424,000 | 439,469 | |
Total | 7,061,220 | |||
Railroads 1.0% | ||||
Canadian Pacific Railway Co. | ||||
03/05/2030 | 2.050% | 5,000,000 | 4,856,995 | |
CSX Corp. | ||||
11/01/2046 | 3.800% | 3,115,000 | 3,367,389 | |
Union Pacific Corp. | ||||
08/15/2059 | 3.950% | 2,256,000 | 2,467,541 | |
03/20/2060 | 3.839% | 2,660,000 | 2,859,427 | |
02/05/2070 | 3.750% | 690,000 | 713,032 | |
Total | 14,264,384 | |||
Restaurants 0.1% | ||||
1011778 BC ULC/New Red Finance, Inc.(d) | ||||
10/15/2030 | 4.000% | 294,000 | 286,856 | |
IRB Holding Corp.(d) | ||||
06/15/2025 | 7.000% | 874,000 | 941,690 | |
02/15/2026 | 6.750% | 624,000 | 646,174 | |
Total | 1,874,720 | |||
Retailers 1.0% | ||||
L Brands, Inc.(d) | ||||
07/01/2025 | 9.375% | 64,000 | 81,124 | |
10/01/2030 | 6.625% | 498,000 | 573,752 | |
L Brands, Inc. | ||||
06/15/2029 | 7.500% | 113,000 | 131,021 | |
11/01/2035 | 6.875% | 227,000 | 275,259 | |
LCM Investments Holdings II LLC(d) | ||||
05/01/2029 | 4.875% | 175,000 | 178,922 | |
Lowe’s Companies, Inc. | ||||
04/15/2025 | 4.000% | 4,275,000 | 4,748,621 | |
04/01/2031 | 2.625% | 4,070,000 | 4,125,140 | |
05/03/2047 | 4.050% | 3,170,000 | 3,518,597 |
Columbia Corporate Income Fund | Annual Report 2021 | 17 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Macy’s Retail Holdings LLC(d) | ||||
04/01/2029 | 5.875% | 146,000 | 149,688 | |
PetSmart, Inc./Finance Corp.(d) | ||||
02/15/2028 | 4.750% | 203,000 | 209,223 | |
02/15/2029 | 7.750% | 118,000 | 127,985 | |
Total | 14,119,332 | |||
Supermarkets 0.3% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(d) | ||||
03/15/2026 | 7.500% | 147,000 | 162,044 | |
02/15/2028 | 5.875% | 378,000 | 402,739 | |
03/15/2029 | 3.500% | 486,000 | 468,119 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(d) | ||||
03/15/2026 | 3.250% | 223,000 | 222,517 | |
01/15/2027 | 4.625% | 339,000 | 352,451 | |
02/15/2030 | 4.875% | 124,000 | 129,146 | |
Kroger Co. (The) | ||||
01/15/2048 | 4.650% | 1,883,000 | 2,222,034 | |
Total | 3,959,050 | |||
Technology 5.6% | ||||
Apple, Inc. | ||||
02/08/2026 | 0.700% | 13,795,000 | 13,631,535 | |
02/09/2045 | 3.450% | 4,555,000 | 4,915,781 | |
Ascend Learning LLC(d) | ||||
08/01/2025 | 6.875% | 280,000 | 286,045 | |
Banff Merger Sub, Inc.(d) | ||||
09/01/2026 | 9.750% | 56,000 | 59,472 | |
Black Knight InfoServ LLC(d) | ||||
09/01/2028 | 3.625% | 185,000 | 181,807 | |
Boxer Parent Co., Inc.(d) | ||||
10/02/2025 | 7.125% | 82,000 | 88,166 | |
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2028 | 3.500% | 1,830,000 | 1,959,437 | |
Broadcom, Inc. | ||||
11/15/2030 | 4.150% | 8,120,000 | 8,872,473 | |
Fidelity National Information Services, Inc. | ||||
03/01/2024 | 0.600% | 1,932,000 | 1,927,329 | |
Gartner, Inc.(d) | ||||
07/01/2028 | 4.500% | 2,178,000 | 2,289,963 | |
Helios Software Holdings, Inc.(d) | ||||
05/01/2028 | 4.625% | 476,000 | 471,904 | |
Intel Corp. | ||||
05/11/2047 | 4.100% | 4,105,000 | 4,716,292 | |
International Business Machines Corp. | ||||
05/15/2050 | 2.950% | 5,255,000 | 4,994,331 | |
Iron Mountain, Inc.(d) | ||||
07/15/2030 | 5.250% | 827,000 | 858,630 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Logan Merger Sub, Inc.(d) | ||||
09/01/2027 | 5.500% | 1,248,000 | 1,299,303 | |
Microchip Technology, Inc.(d) | ||||
02/15/2024 | 0.972% | 8,629,000 | 8,623,127 | |
NCR Corp.(d) | ||||
04/15/2025 | 8.125% | 274,000 | 299,894 | |
09/01/2027 | 5.750% | 274,000 | 289,662 | |
10/01/2028 | 5.000% | 290,000 | 299,266 | |
04/15/2029 | 5.125% | 603,000 | 621,774 | |
09/01/2029 | 6.125% | 215,000 | 234,097 | |
10/01/2030 | 5.250% | 194,000 | 200,892 | |
NXP BV/Funding LLC/USA, Inc.(d) | ||||
05/01/2030 | 3.400% | 1,375,000 | 1,468,890 | |
Oracle Corp. | ||||
03/25/2041 | 3.650% | 5,503,000 | 5,634,811 | |
04/01/2050 | 3.600% | 9,000,000 | 8,870,554 | |
Plantronics, Inc.(d) | ||||
05/31/2023 | 5.500% | 1,050,000 | 1,050,865 | |
03/01/2029 | 4.750% | 939,000 | 924,907 | |
QUALCOMM, Inc. | ||||
05/20/2032 | 1.650% | 2,355,000 | 2,197,031 | |
QualityTech LP/QTS Finance Corp.(d) | ||||
10/01/2028 | 3.875% | 1,848,000 | 1,864,650 | |
Shift4 Payments LLC/Finance Sub, Inc.(d) | ||||
11/01/2026 | 4.625% | 912,000 | 950,377 | |
Tempo Acquisition LLC/Finance Corp.(d) | ||||
06/01/2025 | 5.750% | 175,000 | 185,227 | |
06/01/2025 | 6.750% | 243,000 | 247,450 | |
Verscend Escrow Corp.(d) | ||||
08/15/2026 | 9.750% | 505,000 | 537,892 | |
ZoomInfo Technologies LLC/Finance Corp.(d) | ||||
02/01/2029 | 3.875% | 839,000 | 830,557 | |
Total | 81,884,391 | |||
Tobacco 0.1% | ||||
BAT Capital Corp. | ||||
08/15/2047 | 4.540% | 1,430,000 | 1,409,393 | |
Transportation Services 0.7% | ||||
Avis Budget Car Rental LLC/Finance, Inc.(d) | ||||
03/15/2025 | 5.250% | 168,000 | 171,080 | |
FedEx Corp. | ||||
05/15/2041 | 3.250% | 8,220,000 | 8,168,159 | |
04/01/2046 | 4.550% | 1,880,000 | 2,186,385 | |
Total | 10,525,624 |
18 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wireless 2.5% | ||||
Altice France Holding SA(d) | ||||
05/15/2027 | 10.500% | 329,000 | 370,612 | |
02/15/2028 | 6.000% | 343,000 | 340,016 | |
Altice France SA(d) | ||||
05/01/2026 | 7.375% | 653,000 | 678,290 | |
02/01/2027 | 8.125% | 372,000 | 408,076 | |
01/15/2028 | 5.500% | 1,647,000 | 1,696,285 | |
07/15/2029 | 5.125% | 309,000 | 310,277 | |
American Tower Corp. | ||||
07/15/2027 | 3.550% | 4,395,000 | 4,794,696 | |
08/15/2029 | 3.800% | 5,130,000 | 5,641,222 | |
Crown Castle International Corp. | ||||
04/01/2031 | 2.100% | 6,110,000 | 5,825,634 | |
SBA Communications Corp. | ||||
09/01/2024 | 4.875% | 470,000 | 481,203 | |
02/15/2027 | 3.875% | 277,000 | 283,507 | |
SBA Communications Corp.(d) | ||||
02/01/2029 | 3.125% | 488,000 | 467,604 | |
Sprint Capital Corp. | ||||
03/15/2032 | 8.750% | 125,000 | 185,246 | |
Sprint Corp. | ||||
06/15/2024 | 7.125% | 316,000 | 365,088 | |
03/01/2026 | 7.625% | 552,000 | 676,959 | |
T-Mobile USA, Inc. | ||||
02/15/2026 | 2.250% | 147,000 | 148,006 | |
02/15/2029 | 2.625% | 602,000 | 586,435 | |
02/15/2031 | 2.875% | 334,000 | 325,674 | |
04/15/2031 | 3.500% | 671,000 | 680,308 | |
T-Mobile USA, Inc.(d) | ||||
04/15/2030 | 3.875% | 9,700,000 | 10,584,947 | |
Vmed O2 UK Financing I PLC(d) | ||||
01/31/2031 | 4.250% | 1,059,000 | 1,035,709 | |
Total | 35,885,794 | |||
Wirelines 4.8% | ||||
AT&T, Inc.(d) | ||||
09/15/2055 | 3.550% | 12,889,000 | 11,877,336 | |
12/01/2057 | 3.800% | 8,885,000 | 8,481,492 | |
Cablevision Lightpath LLC(d) | ||||
09/15/2027 | 3.875% | 373,000 | 367,885 | |
CenturyLink, Inc. | ||||
03/15/2022 | 5.800% | 370,000 | 382,223 | |
12/01/2023 | 6.750% | 355,000 | 392,776 | |
04/01/2025 | 5.625% | 155,000 | 167,374 | |
CenturyLink, Inc.(d) | ||||
02/15/2027 | 4.000% | 205,000 | 208,567 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Front Range BidCo, Inc.(d) | ||||
03/01/2027 | 4.000% | 984,000 | 976,891 | |
03/01/2028 | 6.125% | 413,000 | 426,283 | |
Northwest Fiber LLC/Finance Sub, Inc.(d) | ||||
02/15/2028 | 6.000% | 222,000 | 222,173 | |
Telefonica Emisiones SAU | ||||
03/06/2048 | 4.895% | 4,605,000 | 5,281,667 | |
Verizon Communications, Inc. | ||||
09/21/2028 | 4.329% | 21,725,000 | 25,044,212 | |
03/22/2061 | 3.700% | 16,006,000 | 16,200,594 | |
Total | 70,029,473 | |||
Total Corporate Bonds & Notes (Cost $1,377,050,575) | 1,401,966,552 | |||
Foreign Government Obligations(i) 0.0% | ||||
Canada 0.0% | ||||
NOVA Chemicals Corp.(d) | ||||
06/01/2027 | 5.250% | 251,000 | 268,488 | |
NOVA Chemicals Corp.(d),(f) | ||||
05/15/2029 | 4.250% | 198,000 | 196,808 | |
Total | 465,296 | |||
Total Foreign Government Obligations (Cost $453,283) | 465,296 | |||
Senior Loans 0.1% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Consumer Cyclical Services 0.0% | ||||
8th Avenue Food & Provisions, Inc.(j),(k) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 10/01/2025 | 3.608% | 243,644 | 243,137 | |
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.750% 10/01/2026 | 7.858% | 78,084 | 77,303 | |
Total | 320,440 | |||
Food and Beverage 0.0% | ||||
BellRing Brands LLC(j),(k) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 10/21/2024 | 4.750% | 168,515 | 169,568 | |
Froneri International Ltd.(j),(k) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 5.750% 01/31/2028 | 5.863% | 44,000 | 44,358 | |
Total | 213,926 |
Columbia Corporate Income Fund | Annual Report 2021 | 19 |
April 30, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Technology 0.1% | ||||
DCert Buyer, Inc.(j),(k) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.000% 02/19/2029 | 7.113% | 357,000 | 358,339 | |
Epicore Software Corp.(j),(k) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.750% Floor 1.000% 07/31/2028 | 8.750% | 101,000 | 103,525 | |
Total | 461,864 | |||
Total Senior Loans (Cost $990,077) | 996,230 | |||
U.S. Treasury Obligations 2.7% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
04/30/2022 | 0.125% | 5,640,000 | 5,643,085 | |
06/30/2025 | 0.250% | 3,450,000 | 3,393,129 | |
11/30/2025 | 0.375% | 3,600,000 | 3,538,125 | |
12/31/2025 | 0.375% | 11,000,000 | 10,796,328 |
U.S. Treasury Obligations (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
06/30/2027 | 0.500% | 8,300,000 | 7,980,969 | |
12/31/2027 | 0.625% | 4,000,000 | 3,840,000 | |
02/15/2050 | 2.000% | 4,485,000 | 4,208,892 | |
Total U.S. Treasury Obligations (Cost $41,157,655) | 39,400,528 |
Money Market Funds 0.7% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.054%(l),(m) | 10,465,896 | 10,464,850 |
Total Money Market Funds (Cost $10,464,674) | 10,464,850 | |
Total Investments in Securities (Cost: $1,431,417,124) | 1,453,605,394 | |
Other Assets & Liabilities, Net | 6,110,666 | |
Net Assets | 1,459,716,060 |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Long Bond | 546 | 06/2021 | USD | 85,858,500 | — | (1,610,144) |
U.S. Treasury 2-Year Note | 342 | 06/2021 | USD | 75,499,172 | — | (44,631) |
U.S. Treasury 5-Year Note | 351 | 06/2021 | USD | 43,502,063 | 41,282 | — |
U.S. Treasury 5-Year Note | 86 | 06/2021 | USD | 10,658,625 | — | (89,523) |
Total | 41,282 | (1,744,298) |
Short futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | (506) | 06/2021 | USD | (66,807,813) | — | (58,430) |
U.S. Ultra Bond 10-Year Note | (836) | 06/2021 | USD | (121,677,188) | 2,284,331 | — |
U.S. Ultra Treasury Bond | (219) | 06/2021 | USD | (40,713,469) | 1,310,171 | — |
Total | 3,594,502 | (58,430) |
(a) | Non-income producing investment. |
(b) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2021, the total value of these securities amounted to $9,525, which represents less than 0.01% of total net assets. |
(c) | Valuation based on significant unobservable inputs. |
20 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
(d) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2021, the total value of these securities amounted to $345,003,147, which represents 23.63% of total net assets. |
(e) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of April 30, 2021. |
(f) | Represents a security purchased on a when-issued basis. |
(g) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At April 30, 2021, the total value of these securities amounted to $9,525, which represents less than 0.01% of total net assets. |
(h) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(i) | Principal and interest may not be guaranteed by a governmental entity. |
(j) | The stated interest rate represents the weighted average interest rate at April 30, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. These base lending rates are primarily the LIBOR and other short-term rates. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(k) | Variable rate security. The interest rate shown was the current rate as of April 30, 2021. |
(l) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
(m) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.054% | ||||||||
104,909,140 | 691,620,616 | (786,017,910) | (46,996) | 10,464,850 | 21,820 | 134,100 | 10,465,896 |
LIBOR | London Interbank Offered Rate |
USD | US Dollar |
■ | Level 1 — Valuations based on quoted prices for investments in active markets that the Fund has the ability to access at the measurement date. Valuation adjustments are not applied to Level 1 investments. |
■ | Level 2 — Valuations based on other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.). |
■ | Level 3 — Valuations based on significant unobservable inputs (including the Fund’s own assumptions and judgment in determining the fair value of investments). |
Columbia Corporate Income Fund | Annual Report 2021 | 21 |
April 30, 2021
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Financials | 61,443 | — | — | 61,443 |
Total Common Stocks | 61,443 | — | — | 61,443 |
Convertible Bonds | — | 250,495 | — | 250,495 |
Corporate Bonds & Notes | — | 1,401,957,027 | 9,525 | 1,401,966,552 |
Foreign Government Obligations | — | 465,296 | — | 465,296 |
Senior Loans | — | 996,230 | — | 996,230 |
U.S. Treasury Obligations | 39,400,528 | — | — | 39,400,528 |
Money Market Funds | 10,464,850 | — | — | 10,464,850 |
Total Investments in Securities | 49,926,821 | 1,403,669,048 | 9,525 | 1,453,605,394 |
Investments in Derivatives | ||||
Asset | ||||
Futures Contracts | 3,635,784 | — | — | 3,635,784 |
Liability | ||||
Futures Contracts | (1,802,728) | — | — | (1,802,728) |
Total | 51,759,877 | 1,403,669,048 | 9,525 | 1,455,438,450 |
22 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $1,420,952,450) | $1,443,140,544 |
Affiliated issuers (cost $10,464,674) | 10,464,850 |
Cash | 3,733 |
Margin deposits on: | |
Futures contracts | 3,349,396 |
Receivable for: | |
Investments sold on a delayed delivery basis | 67,670 |
Capital shares sold | 3,779,365 |
Dividends | 2,265 |
Interest | 10,949,038 |
Foreign tax reclaims | 76,241 |
Variation margin for futures contracts | 47,992 |
Expense reimbursement due from Investment Manager | 2,067 |
Prepaid expenses | 20,337 |
Trustees’ deferred compensation plan | 200,507 |
Total assets | 1,472,104,005 |
Liabilities | |
Payable for: | |
Investments purchased | 1,709,200 |
Investments purchased on a delayed delivery basis | 6,702,672 |
Capital shares purchased | 618,359 |
Distributions to shareholders | 2,774,765 |
Variation margin for futures contracts | 209,856 |
Management services fees | 19,622 |
Distribution and/or service fees | 704 |
Transfer agent fees | 110,376 |
Compensation of board members | 4,728 |
Compensation of chief compliance officer | 29 |
Other expenses | 37,127 |
Trustees’ deferred compensation plan | 200,507 |
Total liabilities | 12,387,945 |
Net assets applicable to outstanding capital stock | $1,459,716,060 |
Represented by | |
Paid in capital | 1,421,708,643 |
Total distributable earnings (loss) | 38,007,417 |
Total - representing net assets applicable to outstanding capital stock | $1,459,716,060 |
Columbia Corporate Income Fund | Annual Report 2021 | 23 |
April 30, 2021
Class A | |
Net assets | $88,536,506 |
Shares outstanding | 8,216,911 |
Net asset value per share | $10.77 |
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) | $11.31 |
Advisor Class | |
Net assets | $10,624,479 |
Shares outstanding | 987,605 |
Net asset value per share | $10.76 |
Class C | |
Net assets | $4,449,552 |
Shares outstanding | 413,080 |
Net asset value per share | $10.77 |
Institutional Class | |
Net assets | $431,330,655 |
Shares outstanding | 40,035,249 |
Net asset value per share | $10.77 |
Institutional 2 Class | |
Net assets | $49,251,282 |
Shares outstanding | 4,577,500 |
Net asset value per share | $10.76 |
Institutional 3 Class | |
Net assets | $875,523,586 |
Shares outstanding | 81,299,379 |
Net asset value per share | $10.77 |
24 | Columbia Corporate Income Fund | Annual Report 2021 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — affiliated issuers | $134,100 |
Interest | 37,381,764 |
Total income | 37,515,864 |
Expenses: | |
Management services fees | 6,218,370 |
Distribution and/or service fees | |
Class A | 210,206 |
Class C | 60,258 |
Transfer agent fees | |
Class A | 137,132 |
Advisor Class | 26,993 |
Class C | 9,950 |
Institutional Class | 771,314 |
Institutional 2 Class | 5,864 |
Institutional 3 Class | 44,624 |
Compensation of board members | 33,026 |
Custodian fees | 13,772 |
Printing and postage fees | 42,551 |
Registration fees | 110,701 |
Audit fees | 39,500 |
Legal fees | 27,928 |
Compensation of chief compliance officer | 379 |
Other | 47,131 |
Total expenses | 7,799,699 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (657,957) |
Fees waived by distributor | |
Class C | (11,053) |
Expense reduction | (800) |
Total net expenses | 7,129,889 |
Net investment income | 30,385,975 |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 39,591,899 |
Investments — affiliated issuers | 21,820 |
Futures contracts | 13,209,753 |
Net realized gain | 52,823,472 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | (18,836,300) |
Investments — affiliated issuers | (46,996) |
Futures contracts | (4,236,403) |
Net change in unrealized appreciation (depreciation) | (23,119,699) |
Net realized and unrealized gain | 29,703,773 |
Net increase in net assets resulting from operations | $60,089,748 |
Columbia Corporate Income Fund | Annual Report 2021 | 25 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $30,385,975 | $35,204,777 |
Net realized gain | 52,823,472 | 37,393,741 |
Net change in unrealized appreciation (depreciation) | (23,119,699) | 34,633,836 |
Net increase in net assets resulting from operations | 60,089,748 | 107,232,354 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (5,331,630) | (1,821,280) |
Advisor Class | (1,101,540) | (283,152) |
Class C | (368,028) | (122,497) |
Institutional Class | (31,133,094) | (18,123,656) |
Institutional 2 Class | (545,291) | (199,531) |
Institutional 3 Class | (42,137,931) | (14,829,214) |
Total distributions to shareholders | (80,617,514) | (35,379,330) |
Increase (decrease) in net assets from capital stock activity | 460,373,330 | (155,285,533) |
Total increase (decrease) in net assets | 439,845,564 | (83,432,509) |
Net assets at beginning of year | 1,019,870,496 | 1,103,303,005 |
Net assets at end of year | $1,459,716,060 | $1,019,870,496 |
26 | Columbia Corporate Income Fund | Annual Report 2021 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 2,697,195 | 30,058,077 | 1,382,761 | 14,637,837 |
Distributions reinvested | 442,851 | 4,930,570 | 153,257 | 1,628,807 |
Redemptions | (1,261,240) | (14,061,169) | (1,116,106) | (11,788,950) |
Net increase | 1,878,806 | 20,927,478 | 419,912 | 4,477,694 |
Advisor Class | ||||
Subscriptions | 410,874 | 4,590,830 | 1,011,888 | 10,727,343 |
Distributions reinvested | 85,525 | 953,153 | 21,256 | 225,783 |
Redemptions | (1,175,449) | (13,101,669) | (184,066) | (1,911,201) |
Net increase (decrease) | (679,050) | (7,557,686) | 849,078 | 9,041,925 |
Class C | ||||
Subscriptions | 233,445 | 2,613,615 | 310,693 | 3,251,037 |
Distributions reinvested | 31,893 | 355,172 | 10,585 | 112,375 |
Redemptions | (371,965) | (4,115,281) | (298,630) | (3,130,231) |
Net increase (decrease) | (106,627) | (1,146,494) | 22,648 | 233,181 |
Institutional Class | ||||
Subscriptions | 21,574,553 | 239,072,587 | 18,167,748 | 192,344,053 |
Distributions reinvested | 2,133,747 | 23,768,542 | 1,094,761 | 11,639,046 |
Redemptions | (17,252,995) | (191,452,395) | (42,750,686) | (459,792,751) |
Net increase (decrease) | 6,455,305 | 71,388,734 | (23,488,177) | (255,809,652) |
Institutional 2 Class | ||||
Subscriptions | 4,076,722 | 43,998,512 | 107,095 | 1,131,373 |
Distributions reinvested | 49,219 | 545,225 | 18,794 | 199,197 |
Redemptions | (125,903) | (1,385,958) | (342,667) | (3,552,276) |
Net increase (decrease) | 4,000,038 | 43,157,779 | (216,778) | (2,221,706) |
Institutional 3 Class | ||||
Subscriptions | 36,922,199 | 409,476,388 | 20,186,363 | 218,042,299 |
Distributions reinvested | 3,039,549 | 33,789,874 | 1,304,974 | 13,860,746 |
Redemptions | (9,856,703) | (109,662,743) | (13,901,381) | (142,910,020) |
Net increase | 30,105,045 | 333,603,519 | 7,589,956 | 88,993,025 |
Total net increase (decrease) | 41,653,517 | 460,373,330 | (14,823,361) | (155,285,533) |
Columbia Corporate Income Fund | Annual Report 2021 | 27 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Class A | |||||||
Year Ended 4/30/2021 | $10.87 | 0.23 | 0.38 | 0.61 | (0.24) | (0.47) | (0.71) |
Year Ended 4/30/2020 | $10.15 | 0.29 | 0.72 | 1.01 | (0.29) | — | (0.29) |
Year Ended 4/30/2019 | $9.88 | 0.30 | 0.27 | 0.57 | (0.30) | — | (0.30) |
Year Ended 4/30/2018 | $10.11 | 0.26 | (0.23) | 0.03 | (0.26) | — | (0.26) |
Year Ended 4/30/2017 | $10.00 | 0.26 | 0.11 | 0.37 | (0.26) | — | (0.26) |
Advisor Class | |||||||
Year Ended 4/30/2021 | $10.85 | 0.27 | 0.37 | 0.64 | (0.26) | (0.47) | (0.73) |
Year Ended 4/30/2020 | $10.14 | 0.32 | 0.71 | 1.03 | (0.32) | — | (0.32) |
Year Ended 4/30/2019 | $9.87 | 0.33 | 0.27 | 0.60 | (0.33) | — | (0.33) |
Year Ended 4/30/2018 | $10.10 | 0.28 | (0.23) | 0.05 | (0.28) | — | (0.28) |
Year Ended 4/30/2017 | $9.99 | 0.28 | 0.11 | 0.39 | (0.28) | — | (0.28) |
Class C | |||||||
Year Ended 4/30/2021 | $10.86 | 0.17 | 0.38 | 0.55 | (0.17) | (0.47) | (0.64) |
Year Ended 4/30/2020 | $10.15 | 0.23 | 0.71 | 0.94 | (0.23) | — | (0.23) |
Year Ended 4/30/2019 | $9.88 | 0.24 | 0.27 | 0.51 | (0.24) | — | (0.24) |
Year Ended 4/30/2018 | $10.11 | 0.20 | (0.23) | (0.03) | (0.20) | — | (0.20) |
Year Ended 4/30/2017 | $10.00 | 0.20 | 0.11 | 0.31 | (0.20) | — | (0.20) |
Institutional Class | |||||||
Year Ended 4/30/2021 | $10.87 | 0.26 | 0.37 | 0.63 | (0.26) | (0.47) | (0.73) |
Year Ended 4/30/2020 | $10.15 | 0.32 | 0.72 | 1.04 | (0.32) | — | (0.32) |
Year Ended 4/30/2019 | $9.88 | 0.33 | 0.27 | 0.60 | (0.33) | — | (0.33) |
Year Ended 4/30/2018 | $10.11 | 0.28 | (0.23) | 0.05 | (0.28) | — | (0.28) |
Year Ended 4/30/2017 | $10.00 | 0.28 | 0.11 | 0.39 | (0.28) | — | (0.28) |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $10.85 | 0.27 | 0.38 | 0.65 | (0.27) | (0.47) | (0.74) |
Year Ended 4/30/2020 | $10.14 | 0.33 | 0.71 | 1.04 | (0.33) | — | (0.33) |
Year Ended 4/30/2019 | $9.87 | 0.35 | 0.26 | 0.61 | (0.34) | — | (0.34) |
Year Ended 4/30/2018 | $10.09 | 0.29 | (0.22) | 0.07 | (0.29) | — | (0.29) |
Year Ended 4/30/2017 | $9.98 | 0.29 | 0.11 | 0.40 | (0.29) | — | (0.29) |
28 | Columbia Corporate 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 | |||||||
Year Ended 4/30/2021 | $10.77 | 5.47% | 0.93% | 0.88%(c) | 2.10% | 74% | $88,537 |
Year Ended 4/30/2020 | $10.87 | 10.10% | 0.95% | 0.91%(c) | 2.77% | 91% | $68,880 |
Year Ended 4/30/2019 | $10.15 | 5.93% | 0.93% | 0.91%(c) | 3.07% | 65% | $60,085 |
Year Ended 4/30/2018 | $9.88 | 0.22% | 0.95% | 0.92%(c) | 2.52% | 78% | $63,283 |
Year Ended 4/30/2017 | $10.11 | 3.72% | 0.98%(d) | 0.91%(c),(d) | 2.56% | 76% | $81,802 |
Advisor Class | |||||||
Year Ended 4/30/2021 | $10.76 | 5.83% | 0.68% | 0.63%(c) | 2.38% | 74% | $10,624 |
Year Ended 4/30/2020 | $10.85 | 10.28% | 0.70% | 0.66%(c) | 3.02% | 91% | $18,086 |
Year Ended 4/30/2019 | $10.14 | 6.20% | 0.68% | 0.66%(c) | 3.32% | 65% | $8,289 |
Year Ended 4/30/2018 | $9.87 | 0.46% | 0.70% | 0.67%(c) | 2.75% | 78% | $9,009 |
Year Ended 4/30/2017 | $10.10 | 3.98% | 0.73%(d) | 0.66%(c),(d) | 2.81% | 76% | $12,534 |
Class C | |||||||
Year Ended 4/30/2021 | $10.77 | 4.96% | 1.68% | 1.45%(c) | 1.53% | 74% | $4,450 |
Year Ended 4/30/2020 | $10.86 | 9.35% | 1.70% | 1.51%(c) | 2.17% | 91% | $5,646 |
Year Ended 4/30/2019 | $10.15 | 5.29% | 1.68% | 1.51%(c) | 2.45% | 65% | $5,045 |
Year Ended 4/30/2018 | $9.88 | (0.38%) | 1.70% | 1.52%(c) | 1.92% | 78% | $7,856 |
Year Ended 4/30/2017 | $10.11 | 3.10% | 1.73%(d) | 1.51%(c),(d) | 1.96% | 76% | $10,543 |
Institutional Class | |||||||
Year Ended 4/30/2021 | $10.77 | 5.73% | 0.68% | 0.63%(c) | 2.36% | 74% | $431,331 |
Year Ended 4/30/2020 | $10.87 | 10.37% | 0.70% | 0.66%(c) | 3.02% | 91% | $364,875 |
Year Ended 4/30/2019 | $10.15 | 6.19% | 0.68% | 0.66%(c) | 3.31% | 65% | $579,312 |
Year Ended 4/30/2018 | $9.88 | 0.47% | 0.69% | 0.66%(c) | 2.78% | 78% | $760,048 |
Year Ended 4/30/2017 | $10.11 | 3.98% | 0.73%(d) | 0.66%(c),(d) | 2.81% | 76% | $586,861 |
Institutional 2 Class | |||||||
Year Ended 4/30/2021 | $10.76 | 5.94% | 0.58% | 0.53% | 2.45% | 74% | $49,251 |
Year Ended 4/30/2020 | $10.85 | 10.39% | 0.58% | 0.56% | 3.13% | 91% | $6,267 |
Year Ended 4/30/2019 | $10.14 | 6.29% | 0.59% | 0.58% | 3.52% | 65% | $8,052 |
Year Ended 4/30/2018 | $9.87 | 0.67% | 0.59% | 0.57% | 2.86% | 78% | $1,782 |
Year Ended 4/30/2017 | $10.09 | 4.09% | 0.57%(d) | 0.55%(d) | 2.92% | 76% | $2,076 |
Columbia Corporate Income Fund | Annual Report 2021 | 29 |
Net asset value, beginning of period | Net investment income | Net realized and unrealized gain (loss) | Total from investment operations | Distributions from net investment income | Distributions from net realized gains | Total distributions to shareholders | |
Institutional 3 Class | |||||||
Year Ended 4/30/2021 | $10.86 | 0.28 | 0.38 | 0.66 | (0.28) | (0.47) | (0.75) |
Year Ended 4/30/2020 | $10.15 | 0.33 | 0.72 | 1.05 | (0.34) | — | (0.34) |
Year Ended 4/30/2019 | $9.88 | 0.34 | 0.27 | 0.61 | (0.34) | — | (0.34) |
Year Ended 4/30/2018 | $10.11 | 0.30 | (0.23) | 0.07 | (0.30) | — | (0.30) |
Year Ended 4/30/2017 | $10.00 | 0.29 | 0.12 | 0.41 | (0.30) | — | (0.30) |
Notes to Financial Highlights | |
(a) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(b) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(c) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(d) | 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 | Institutional Class | Institutional 2 Class | Institutional 3 Class |
04/30/2017 | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% |
30 | Columbia Corporate 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 3 Class | |||||||
Year Ended 4/30/2021 | $10.77 | 5.99% | 0.52% | 0.47% | 2.49% | 74% | $875,524 |
Year Ended 4/30/2020 | $10.86 | 10.44% | 0.53% | 0.50% | 3.17% | 91% | $556,117 |
Year Ended 4/30/2019 | $10.15 | 6.34% | 0.53% | 0.52% | 3.44% | 65% | $442,521 |
Year Ended 4/30/2018 | $9.88 | 0.62% | 0.53% | 0.51% | 2.93% | 78% | $622,383 |
Year Ended 4/30/2017 | $10.11 | 4.14% | 0.54%(d) | 0.51%(d) | 2.91% | 76% | $542,814 |
Columbia Corporate Income Fund | Annual Report 2021 | 31 |
April 30, 2021
32 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Columbia Corporate Income Fund | Annual Report 2021 | 33 |
April 30, 2021
34 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 3,635,784* |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 1,802,728* |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Interest rate risk | 13,209,753 | |||||
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Futures contracts ($) | |||||
Interest rate risk | (4,236,403) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 224,339,483 |
Futures contracts — short | 172,617,223 |
* | Based on the ending quarterly outstanding amounts for the year ended April 30, 2021. |
Columbia Corporate Income Fund | Annual Report 2021 | 35 |
April 30, 2021
36 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Columbia Corporate Income Fund | Annual Report 2021 | 37 |
April 30, 2021
Effective rate (%) | |
Class A | 0.16 |
Advisor Class | 0.17 |
Class C | 0.16 |
Institutional Class | 0.16 |
Institutional 2 Class | 0.06 |
Institutional 3 Class | 0.01 |
38 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 4.75 | 0.50 - 1.00(a) | 132,147 |
Class C | — | 1.00(b) | 855 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.90% | 0.90% |
Advisor Class | 0.65 | 0.65 |
Class C | 1.65 | 1.65 |
Institutional Class | 0.65 | 0.65 |
Institutional 2 Class | 0.52 | 0.55 |
Institutional 3 Class | 0.47 | 0.49 |
Columbia Corporate Income Fund | Annual Report 2021 | 39 |
April 30, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
313,525 | (313,525) | — |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
45,213,911 | 35,403,603 | 80,617,514 | 35,379,330 | — | 35,379,330 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
12,319,159 | 5,959,400 | — | 22,707,554 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
1,432,730,896 | 48,807,119 | (26,099,565) | 22,707,554 |
40 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Columbia Corporate Income Fund | Annual Report 2021 | 41 |
April 30, 2021
42 | Columbia Corporate Income Fund | Annual Report 2021 |
April 30, 2021
Columbia Corporate Income Fund | Annual Report 2021 | 43 |
44 | Columbia Corporate Income Fund | Annual Report 2021 |
Capital gain dividend | Section 163(j) Interest Dividends |
$24,167,718 | 71.65% |
Name, address, year of birth | Position held with the Columbia Funds and length of service | Principal occupation(s) during past five years and other relevant professional experience | Number of Funds in the Columbia Funds Complex* overseen | Other directorships held by Trustee during the past five years |
George S. Batejan c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | 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 Corporate Income Fund | Annual Report 2021 | 45 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
46 | Columbia Corporate 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 Corporate Income Fund | Annual Report 2021 | 47 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 |
48 | Columbia Corporate 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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 Corporate Income Fund | Annual Report 2021 | 49 |
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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
50 | Columbia Corporate 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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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 Corporate Income Fund | Annual Report 2021 | 51 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
52 | Columbia Corporate Income 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.
April 30, 2021
3 | |
6 | |
8 | |
9 | |
41 | |
43 | |
45 | |
48 | |
52 | |
71 | |
72 | |
72 | |
78 | |
79 |
Average annual total returns (%) (for the period ended April 30, 2021) | |||||
Inception | 1 Year | 5 Years | 10 Years | ||
Class A | Excluding sales charges | 07/31/00 | 10.36 | 4.86 | 4.17 |
Including sales charges | 7.01 | 4.24 | 3.85 | ||
Advisor Class* | 11/08/12 | 10.62 | 5.15 | 4.42 | |
Class C | Excluding sales charges | 02/01/02 | 9.57 | 4.09 | 3.45 |
Including sales charges | 8.57 | 4.09 | 3.45 | ||
Institutional Class | 12/05/78 | 10.70 | 5.14 | 4.43 | |
Institutional 2 Class* | 11/08/12 | 10.69 | 5.21 | 4.49 | |
Institutional 3 Class* | 11/08/12 | 10.73 | 5.26 | 4.53 | |
Class R | 01/23/06 | 10.15 | 4.61 | 3.91 | |
Bloomberg Barclays U.S. Aggregate Bond Index | -0.27 | 3.19 | 3.39 |
* | 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 Total Return Bond Fund | Annual Report 2021 | 3 |
Portfolio breakdown (%) (at April 30, 2021) | |
Asset-Backed Securities — Non-Agency | 12.9 |
Commercial Mortgage-Backed Securities - Agency | 0.4 |
Commercial Mortgage-Backed Securities - Non-Agency | 8.3 |
Common Stocks | 0.0(a) |
Convertible Bonds | 0.1 |
Corporate Bonds & Notes | 22.0 |
Foreign Government Obligations | 3.0 |
Money Market Funds | 5.5 |
Options Purchased Puts | 0.8 |
Residential Mortgage-Backed Securities - Agency | 16.1 |
Residential Mortgage-Backed Securities - Non-Agency | 30.5 |
Senior Loans | 0.0(a) |
U.S. Treasury Obligations | 0.4 |
Total | 100.0 |
(a) | Rounds to zero. |
Quality breakdown (%) (at April 30, 2021) | |
AAA rating | 21.6 |
AA rating | 5.4 |
A rating | 7.8 |
BBB rating | 23.3 |
BB rating | 16.1 |
B rating | 8.1 |
CCC rating | 1.5 |
Not rated | 16.2 |
Total | 100.0 |
4 | Columbia Total Return Bond Fund | Annual Report 2021 |
Market exposure through derivatives investments (% of notional exposure) (at April 30, 2021)(a) | |||
Long | Short | Net | |
Fixed Income Derivative Contracts | 97.9 | 3.1 | 101.0 |
Foreign Currency Derivative Contracts | — | (1.0) | (1.0) |
Total Notional Market Value of Derivative Contracts | 97.9 | 2.1 | 100.0 |
Columbia Total Return Bond Fund | Annual Report 2021 | 5 |
• | The Fund’s outperformance relative to the benchmark was largely the result of favorable sector allocation, security selection and positioning with respect to interest rate risk. |
• | From an asset allocation perspective, the Fund’s weighting toward credit-sensitive sectors, which benefited most directly from strong policy support as the pandemic emerged, drove positive contributions. |
○ | In this vein, exposure to securitized sectors including non-agency mortgage-backed securities (MBS), commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) added to relative performance. |
○ | In particular, the decision to increase exposure to non-agency MBS, which had been severely impacted by forced selling as the economy shut down, benefited the Fund’s return, as the segment was boosted by a strong housing market and resilient consumer against a highly supportive policy backdrop. |
○ | The Fund’s tactical off-benchmark allocations to below-investment-grade high-yield corporate bonds and emerging market bonds also added to performance. |
• | Favorable security selection was driven by a preference for issuers within CMBS and both investment-grade and high-yield corporate bonds that had been most negatively impacted by COVID-19 pandemic-driven economic shutdowns. |
• | With Treasury yields hovering at historically low levels, the Fund lowered overall portfolio duration and corresponding interest rate sensitivity over the third quarter of 2020. This stance benefited performance as Treasury yields moved higher beginning in October 2020. |
• | Sector allocation within investment-grade corporate bonds weighed on return, although this was offset by positive issuer selection. |
6 | Columbia Total Return Bond Fund | Annual Report 2021 |
Columbia Total Return Bond Fund | Annual Report 2021 | 7 |
(Unaudited)
November 1, 2020 — April 30, 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 | 1,026.20 | 1,021.19 | 3.79 | 3.78 | 0.75 |
Advisor Class | 1,000.00 | 1,000.00 | 1,027.20 | 1,022.44 | 2.53 | 2.52 | 0.50 |
Class C | 1,000.00 | 1,000.00 | 1,022.40 | 1,017.45 | 7.56 | 7.54 | 1.50 |
Institutional Class | 1,000.00 | 1,000.00 | 1,027.20 | 1,022.44 | 2.53 | 2.52 | 0.50 |
Institutional 2 Class | 1,000.00 | 1,000.00 | 1,027.80 | 1,022.79 | 2.17 | 2.17 | 0.43 |
Institutional 3 Class | 1,000.00 | 1,000.00 | 1,028.00 | 1,023.04 | 1.92 | 1.92 | 0.38 |
Class R | 1,000.00 | 1,000.00 | 1,024.90 | 1,019.95 | 5.05 | 5.04 | 1.00 |
8 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Asset-Backed Securities — Non-Agency 15.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
American Credit Acceptance Receivables Trust(a) | ||||
Series 2020-4 Class E | ||||
12/14/2026 | 3.650% | 6,970,000 | 7,265,330 | |
Subordinated Series 2018-1 Class F | ||||
12/10/2024 | 6.550% | 10,100,000 | 10,337,930 | |
Subordinated Series 2020-3 Class D | ||||
06/15/2026 | 2.400% | 7,035,000 | 7,262,780 | |
Subordinated Series 2021-1 Class D | ||||
03/15/2027 | 1.140% | 2,450,000 | 2,443,889 | |
Apidos CLO XXXIII(a),(b) | ||||
Series 2020-33A Class C | ||||
3-month USD LIBOR + 2.700% Floor 2.700% 07/24/2031 | 2.876% | 2,500,000 | 2,503,360 | |
ARES XLVI CLO Ltd.(a),(b) | ||||
Series 2017-46A Class B1 | ||||
3-month USD LIBOR + 1.350% 01/15/2030 | 1.534% | 7,780,000 | 7,771,831 | |
Avant Loans Funding Trust(a) | ||||
Series 2019-A Class B | ||||
12/15/2022 | 3.800% | 998,887 | 1,000,978 | |
Series 2019-B Class A | ||||
10/15/2026 | 2.720% | 240,031 | 240,146 | |
Series 2020-REV1 Class A | ||||
05/15/2029 | 2.170% | 8,640,000 | 8,650,637 | |
Series 2020-REV1 Class B | ||||
05/15/2029 | 2.680% | 5,600,000 | 5,631,763 | |
Bain Capital Credit CLO Ltd.(a),(b) | ||||
Series 2020-3A Class D | ||||
3-month USD LIBOR + 3.750% Floor 3.750% 10/23/2032 | 4.009% | 5,750,000 | 5,762,029 | |
Series 2020-4A Class D | ||||
3-month USD LIBOR + 4.250% Floor 4.250% 10/20/2033 | 4.411% | 3,750,000 | 3,797,227 | |
Carlyle Group LP(a),(b) | ||||
Series 2017-5A Class A2 | ||||
3-month USD LIBOR + 1.400% 01/20/2030 | 1.588% | 3,810,000 | 3,777,901 | |
Carlyle US CLO Ltd.(a),(b) | ||||
Series 2020-2A Class C | ||||
3-month USD LIBOR + 4.000% Floor 4.000% 10/25/2031 | 4.174% | 5,975,000 | 5,991,879 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cent CLO Ltd.(a),(b) | ||||
Series 2018-C17A Class A2R | ||||
3-month USD LIBOR + 1.600% 04/30/2031 | 1.786% | 9,300,000 | 9,285,204 | |
Conn’s Receivables Funding LLC(a) | ||||
Series 2019-B Class B | ||||
06/17/2024 | 3.620% | 4,296,092 | 4,301,809 | |
Consumer Lending Receivables Trust(a) | ||||
Series 2019-A Class B | ||||
04/15/2026 | 4.010% | 2,760,603 | 2,780,249 | |
Consumer Loan Underlying Bond CLUB Credit Trust(a) | ||||
Series 2019-P2 Class A | ||||
10/15/2026 | 2.470% | 676,461 | 678,724 | |
Consumer Loan Underlying Bond Credit Trust(a) | ||||
Subordinated Series 2017-P1 Class C | ||||
09/15/2023 | 5.020% | 1,037,314 | 1,042,067 | |
Dryden CLO Ltd.(a),(b) | ||||
Series 2018-57A Class B | ||||
3-month USD LIBOR + 1.350% Floor 1.350% 05/15/2031 | 1.544% | 7,000,000 | 7,000,049 | |
Series 2020-83A Class D | ||||
3-month USD LIBOR + 3.500% Floor 3.500% 01/18/2032 | 3.737% | 4,000,000 | 4,016,072 | |
DT Auto Owner Trust(a) | ||||
Subordinated Series 2020-1A Class D | ||||
11/17/2025 | 2.550% | 4,000,000 | 4,126,122 | |
Enva LLC(a) | ||||
Subordinated Series 2018-A Class B | ||||
05/20/2026 | 7.370% | 1,131,909 | 1,148,603 | |
ENVA LLC(a) | ||||
Series 2019-A Class B | ||||
06/22/2026 | 6.170% | 3,517,304 | 3,559,245 | |
Exeter Automobile Receivables Trust(a) | ||||
Subordinated Series 2020-1A Class D | ||||
12/15/2025 | 2.730% | 7,825,000 | 8,053,497 | |
Exeter Automobile Receivables Trust | ||||
Subordinated Series 2020-3A Class E | ||||
08/17/2026 | 3.440% | 6,300,000 | 6,498,010 | |
FREED ABS Trust(a) | ||||
Series 2019-1 Class C | ||||
06/18/2026 | 5.390% | 6,300,000 | 6,481,797 | |
Subordinated Series 2019-2 Class C | ||||
11/18/2026 | 4.860% | 3,300,000 | 3,412,065 | |
GLS Auto Receivables Issuer Trust(a) | ||||
Subordinated Series 2019-4A Class C | ||||
08/15/2025 | 3.060% | 1,900,000 | 1,974,244 |
Columbia Total Return Bond Fund | Annual Report 2021 | 9 |
April 30, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2020-3A Class D | ||||
05/15/2026 | 2.270% | 3,565,000 | 3,625,447 | |
Subordinated Series 2020-3A Class E | ||||
07/15/2027 | 4.310% | 1,450,000 | 1,525,551 | |
Goldentree Loan Opportunities XI Ltd.(a),(b) | ||||
Series 2015-11A Class BR2 | ||||
3-month USD LIBOR + 1.350% 01/18/2031 | 1.540% | 5,000,000 | 4,985,355 | |
LendingClub Receivables Trust(a) | ||||
Series 2019-1 Class A | ||||
07/17/2045 | 4.000% | 3,063,291 | 3,131,665 | |
Series 2019-2 Class A | ||||
08/15/2025 | 4.000% | 3,776,251 | 3,846,435 | |
Series 2019-3 Class A | ||||
10/15/2025 | 3.750% | 4,381,044 | 4,457,213 | |
Series 2019-7 Class A | ||||
01/15/2027 | 3.750% | 4,224,224 | 4,278,707 | |
Series 2020-1 Class A | ||||
01/16/2046 | 3.500% | 4,491,663 | 4,545,196 | |
Series 2020-2 Class A | ||||
02/15/2046 | 3.600% | 2,863,335 | 2,895,153 | |
Series 2020-T1 Class A | ||||
02/15/2046 | 3.500% | 3,892,943 | 3,904,521 | |
LendingClub Receivables Trust(a),(c),(d),(e) | ||||
Series 2020-JPSL Class R | ||||
02/15/2025 | 0.000% | 50,000 | 1,572,500 | |
LL ABS Trust(a) | ||||
Series 2020-1A Class A | ||||
01/17/2028 | 2.330% | 4,020,228 | 4,033,062 | |
Lucali CLO Ltd.(a),(b) | ||||
Series 2020-1A Class D | ||||
3-month USD LIBOR + 3.600% Floor 3.600% 01/15/2033 | 3.838% | 5,000,000 | 5,008,880 | |
Madison Park Funding XLVII Ltd.(a),(b) | ||||
Series 2020-47A Class D | ||||
3-month USD LIBOR + 4.000% Floor 4.000% 01/19/2034 | 4.246% | 6,800,000 | 6,932,872 | |
Madison Park Funding XXIV Ltd.(a),(b) | ||||
Series 2016-24A Class BR | ||||
3-month USD LIBOR + 1.750% 10/20/2029 | 1.938% | 9,875,000 | 9,876,303 | |
Madison Park Funding XXVII Ltd.(a),(b) | ||||
Series 2018-27A Class A2 | ||||
3-month USD LIBOR + 1.350% 04/20/2030 | 1.538% | 10,000,000 | 9,912,150 |
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Marlette Funding Trust(a) | ||||
Series 2019-1A Class B | ||||
04/16/2029 | 3.940% | 4,800,000 | 4,871,929 | |
Series 2020-2A Class D | ||||
09/16/2030 | 4.650% | 2,000,000 | 2,125,930 | |
Subordinated Series 2020-2A Class C | ||||
09/16/2030 | 2.830% | 3,550,000 | 3,639,837 | |
Marlette Funding Trust(a),(f) | ||||
Series 2021-1A Class A | ||||
06/16/2031 | 0.600% | 4,800,000 | 4,799,866 | |
Series 2021-1A Class B | ||||
06/16/2031 | 1.000% | 3,950,000 | 3,949,750 | |
Series 2021-1A Class C | ||||
06/16/2031 | 1.410% | 600,000 | 599,846 | |
Octagon Investment Partners 35 Ltd.(a),(b) | ||||
Series 2018-1A Class A2 | ||||
3-month USD LIBOR + 1.400% Floor 1.400% 01/20/2031 | 1.588% | 9,350,000 | 9,288,898 | |
Octagon Investment Partners XXII Ltd.(a),(b) | ||||
Series 2014-1A Class BRR | ||||
3-month USD LIBOR + 1.450% Floor 1.450% 01/22/2030 | 1.634% | 22,000,000 | 22,004,510 | |
Oportun Issuance Trust(a),(f) | ||||
Series 2021-B Class A | ||||
05/08/2031 | 1.470% | 15,100,000 | 15,089,625 | |
Subordinated Series 2021-B Class B | ||||
05/08/2031 | 1.960% | 3,100,000 | 3,099,109 | |
OZLM Funding IV Ltd.(a),(b) | ||||
Series 2013-4A Class D2R | ||||
3-month USD LIBOR + 7.250% 10/22/2030 | 7.434% | 1,000,000 | 983,616 | |
OZLM XXI(a),(b) | ||||
Series 2017-21A Class A2 | ||||
3-month USD LIBOR + 1.450% 01/20/2031 | 1.638% | 11,475,000 | 11,404,578 | |
Pagaya AI Debt Selection Trust(a),(d) | ||||
Series 2019-1 Class A | ||||
06/15/2026 | 3.690% | 2,192,693 | 2,214,620 | |
Pagaya AI Debt Selection Trust(a) | ||||
Series 2019-2 Class A2A | ||||
09/15/2026 | 3.929% | 974,414 | 976,895 | |
Series 2019-3 Class A | ||||
11/16/2026 | 3.821% | 4,192,481 | 4,252,008 | |
Series 2021-1 Class A | ||||
11/15/2027 | 1.180% | 7,320,000 | 7,311,422 | |
Subordinated Series 2020-3 Class C | ||||
05/17/2027 | 6.430% | 8,300,000 | 8,320,084 |
10 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Asset-Backed Securities — Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Prosper Marketplace Issuance Trust(a) | ||||
Series 2019-3A Class B | ||||
07/15/2025 | 3.590% | 2,147,460 | 2,152,716 | |
Subordinated Series 2017-1A Class C | ||||
06/15/2023 | 5.800% | 82,199 | 82,290 | |
Subordinated Series 2017-2A Class C | ||||
09/15/2023 | 5.370% | 342,996 | 343,037 | |
Subordinated Series 2019-3A Class C | ||||
07/15/2025 | 4.940% | 12,000,000 | 12,087,078 | |
Prosper Pass-Through Trust(a),(d) | ||||
Series 2019-ST2 Class A | ||||
11/15/2025 | 3.750% | 3,101,638 | 3,117,146 | |
Rockland Park CLO Ltd.(a),(b),(f) | ||||
Series 2021-1A Class A | ||||
3-month USD LIBOR + 1.120% Floor 1.120% 04/20/2034 | 2.000% | 23,000,000 | 23,000,000 | |
SoFi Consumer Loan Program LLC(a) | ||||
Series 2017-5 Class A2 | ||||
09/25/2026 | 2.780% | 198,274 | 199,164 | |
SoFi Consumer Loan Program Repack Trust(a),(d),(e) | ||||
Series 2019-1 Class R1B | ||||
03/01/2028 | 0.000% | 1,960,869 | 1,941,261 | |
Subordinated Series 2019-2 Class R1B | ||||
04/28/2028 | 0.000% | 266,729 | 265,396 | |
SoFi Consumer Loan Program Trust(a) | ||||
Series 2019-2 Class A | ||||
04/25/2028 | 3.010% | 304,611 | 306,292 | |
Stewart Park CLO Ltd.(a),(b) | ||||
Series 2017-1A Class BR | ||||
3-month USD LIBOR + 1.370% Floor 1.370% 01/15/2030 | 1.554% | 5,828,571 | 5,810,596 | |
Theorem Funding Trust(a) | ||||
Series 2020-1A Class A | ||||
10/15/2026 | 2.480% | 5,816,693 | 5,849,135 | |
Series 2020-1A Class B | ||||
10/15/2026 | 3.950% | 3,000,000 | 3,083,974 | |
Upstart Pass-Through Trust(a) | ||||
Series 2020-ST6 Class A | ||||
01/20/2027 | 3.000% | 5,179,315 | 5,251,778 | |
Upstart Securitization Trust(a) | ||||
Series 2020-2 Class A | ||||
11/20/2030 | 2.309% | 10,113,329 | 10,116,618 | |
Subordinated Series 2018-2 Class C | ||||
12/22/2025 | 5.494% | 3,749,241 | 3,775,241 | |
Total Asset-Backed Securities — Non-Agency (Cost $390,483,615) | 393,640,692 | |||
Commercial Mortgage-Backed Securities - Agency 0.4% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
FRESB Mortgage Trust(g) | ||||
Series 2018-SB45 Class A10F | ||||
11/25/2027 | 3.160% | 5,734,427 | 6,097,744 | |
Government National Mortgage Association(g),(h) | ||||
Series 2019-147 Class IO | ||||
06/16/2061 | 0.614% | 78,730,641 | 4,950,961 | |
Total Commercial Mortgage-Backed Securities - Agency (Cost $11,929,659) | 11,048,705 | |||
Commercial Mortgage-Backed Securities - Non-Agency 10.0% | ||||
American Homes 4 Rent Trust(a) | ||||
Series 2014-SFR3 Class A | ||||
12/17/2036 | 3.678% | 1,415,174 | 1,523,715 | |
BAMLL Commercial Mortgage Securities Trust(a),(g) | ||||
Series 2013-WBRK Class A | ||||
03/10/2037 | 3.652% | 3,000,000 | 3,190,814 | |
BAMLL Commercial Mortgage Securities Trust(a),(b) | ||||
Series 2019-RLJ Class D | ||||
1-month USD LIBOR + 1.950% Floor 1.950% 04/15/2036 | 2.065% | 7,730,000 | 7,336,838 | |
BBCMS Trust(a),(b) | ||||
Subordinated Series 2018-BXH Class E | ||||
1-month USD LIBOR + 2.250% Floor 2.250% 10/15/2037 | 2.365% | 4,790,000 | 4,369,628 | |
Subordinated Series 2018-BXH Class F | ||||
1-month USD LIBOR + 2.950% Floor 2.950% 10/15/2037 | 3.065% | 1,750,000 | 1,514,829 | |
BFLD Trust(a),(b) | ||||
Series 2019-DPLO Class F | ||||
1-month USD LIBOR + 2.540% Floor 2.540% 10/15/2034 | 2.655% | 3,050,000 | 2,965,950 | |
Subordinated Series 2019-DPLO Class D | ||||
1-month USD LIBOR + 1.840% Floor 1.840% 10/15/2034 | 1.955% | 1,600,000 | 1,592,476 | |
BHMS Mortgage Trust(a),(b) | ||||
Series 2018-ATLS Class C | ||||
1-month USD LIBOR + 1.900% Floor 1.900% 07/15/2035 | 2.015% | 7,700,000 | 7,675,948 | |
Braemar Hotels & Resorts Trust(a),(b) | ||||
Series 2018-PRME Class E | ||||
1-month USD LIBOR + 2.400% Floor 2.400% 06/15/2035 | 2.515% | 6,850,000 | 6,043,447 |
Columbia Total Return Bond Fund | Annual Report 2021 | 11 |
April 30, 2021
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2018-PRME Class D | ||||
1-month USD LIBOR + 1.800% Floor 1.925% 06/15/2035 | 1.915% | 3,100,000 | 2,847,017 | |
BX Trust(a),(b) | ||||
Series 2018-GW Class F | ||||
1-month USD LIBOR + 2.420% Floor 2.420% 05/15/2035 | 2.535% | 5,900,000 | 5,877,884 | |
Series 2018-GW Class G | ||||
1-month USD LIBOR + 2.920% Floor 2.920% 05/15/2035 | 3.035% | 650,000 | 642,716 | |
Series 2019-ATL Class C | ||||
1-month USD LIBOR + 1.587% Floor 1.587%, Cap 1.587% 10/15/2036 | 1.702% | 4,361,000 | 4,322,961 | |
Series 2019-ATL Class D | ||||
1-month USD LIBOR + 1.887% Floor 1.887% 10/15/2036 | 2.002% | 3,801,000 | 3,715,746 | |
BX Trust(a) | ||||
Series 2019-OC11 Class E | ||||
12/09/2041 | 4.076% | 3,300,000 | 3,349,237 | |
CHT Mortgage Trust(a),(b) | ||||
Series 2017-CSMO Class B | ||||
1-month USD LIBOR + 1.400% Floor 1.200% 11/15/2036 | 1.515% | 3,000,000 | 3,001,874 | |
Series 2017-CSMO Class C | ||||
1-month USD LIBOR + 1.500% Floor 1.350% 11/15/2036 | 1.615% | 5,000,000 | 5,003,123 | |
Series 2017-CSMO Class D | ||||
1-month USD LIBOR + 2.250% Floor 2.100% 11/15/2036 | 2.365% | 2,000,000 | 2,001,875 | |
Series 2017-CSMO Class E | ||||
1-month USD LIBOR + 3.000% Floor 3.000% 11/15/2036 | 3.115% | 11,500,000 | 11,514,361 | |
CLNY Trust(a),(b) | ||||
Series 2019-IKPR Class A | ||||
1-month USD LIBOR + 1.129% Floor 1.129% 11/15/2038 | 1.244% | 5,000,000 | 4,996,891 | |
Series 2019-IKPR Class E | ||||
1-month USD LIBOR + 2.721% Floor 2.721% 11/15/2038 | 2.836% | 6,700,000 | 6,482,269 |
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cold Storage Trust(a),(b) | ||||
Subordinated Series 2020-ICE5 Class F | ||||
1-month USD LIBOR + 3.493% Floor 3.333% 11/15/2023 | 3.607% | 7,618,177 | 7,665,784 | |
COMM Mortgage Trust(a),(g) | ||||
Series 2020-CBM Class E | ||||
02/10/2037 | 3.754% | 4,850,000 | 4,696,471 | |
Subordinated Series 2020-CX Class D | ||||
11/10/2046 | 2.773% | 5,600,000 | 5,470,512 | |
Cosmopolitan Hotel Mortgage Trust(a),(b) | ||||
Subordinated Series 2017-CSMO Class F | ||||
1-month USD LIBOR + 3.741% Floor 3.741% 11/15/2036 | 3.856% | 6,392,000 | 6,399,958 | |
Credit Suisse Mortgage Capital Certificates OA LLC(a) | ||||
Series 2014-USA Class A2 | ||||
09/15/2037 | 3.953% | 9,335,000 | 10,062,882 | |
Subordinated Series 2014-USA Class D | ||||
09/15/2037 | 4.373% | 1,800,000 | 1,727,818 | |
Subordinated Series 2014-USA Class E | ||||
09/15/2037 | 4.373% | 8,285,000 | 7,111,716 | |
Subordinated Series 2014-USA Class F | ||||
09/15/2037 | 4.373% | 7,750,000 | 5,820,943 | |
Hilton USA Trust(a),(g) | ||||
Series 2016-HHV Class F | ||||
11/05/2038 | 4.333% | 2,500,000 | 2,476,655 | |
Hilton USA Trust(a) | ||||
Subordinated Series 2016-SFP Class E | ||||
11/05/2035 | 5.519% | 5,500,000 | 5,534,933 | |
Independence Plaza Trust(a) | ||||
Series 2018-INDP Class B | ||||
07/10/2035 | 3.911% | 4,500,000 | 4,740,122 | |
Invitation Homes Trust(a),(b) | ||||
Subordinated Series 2018-SFR3 Class E | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 07/17/2037 | 2.115% | 6,213,355 | 6,224,969 | |
Morgan Stanley Capital I Trust(a),(g) | ||||
Series 2019-MEAD Class E | ||||
11/10/2036 | 3.283% | 6,200,000 | 5,299,085 | |
Oak Street Investment Grade Net Lease Fund(a) | ||||
Series 2021-1A Class A2 | ||||
01/20/2051 | 1.930% | 7,947,732 | 7,883,060 | |
Progress Residential Trust(a) | ||||
Series 2019-SFR1 Class E | ||||
08/17/2035 | 4.466% | 5,265,000 | 5,371,272 | |
Series 2020-SFR1 Class E | ||||
04/17/2037 | 3.032% | 8,750,000 | 8,931,556 |
12 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Commercial Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Subordinated Series 2019-SFR2 Class F | ||||
05/17/2036 | 4.837% | 1,400,000 | 1,392,758 | |
Subordinated Series 2019-SFR3 Class F | ||||
09/17/2036 | 3.867% | 1,225,000 | 1,250,039 | |
Subordinated Series 2019-SFR4 Class F | ||||
10/17/2036 | 3.684% | 765,000 | 777,836 | |
Subordinated Series 2020-SFR2 Class E | ||||
06/17/2037 | 5.115% | 2,800,000 | 2,957,993 | |
RETL(a),(b) | ||||
Subordinated Series 2019-RVP Class C | ||||
1-month USD LIBOR + 2.100% Floor 2.100% 03/15/2036 | 2.215% | 5,465,581 | 5,438,271 | |
SFO Commercial Mortgage Trust(a),(b),(f) | ||||
Series 2021-555 Class A | ||||
1-month USD LIBOR + 1.150% Floor 1.150% 05/15/2038 | 1.260% | 19,000,000 | 19,125,780 | |
Subordinated Series 2021-555 Class B | ||||
1-month USD LIBOR + 1.500% Floor 1.500% 05/15/2038 | 1.610% | 7,700,000 | 7,700,000 | |
Subordinated Series 2021-555 Class C | ||||
1-month USD LIBOR + 1.800% Floor 1.800% 05/15/2038 | 1.910% | 7,500,000 | 7,500,000 | |
UBS Commercial Mortgage Trust(a),(b) | ||||
Series 2018-NYCH Class B | ||||
1-month USD LIBOR + 1.250% Floor 1.250% 02/15/2032 | 1.365% | 4,800,000 | 4,779,955 | |
Series 2018-NYCH Class E | ||||
1-month USD LIBOR + 2.900% Floor 3.200% 02/15/2032 | 3.015% | 5,737,000 | 5,550,414 | |
Wells Fargo Commercial Mortgage Trust(a),(b) | ||||
Series 2017-SMP Class A | ||||
1-month USD LIBOR + 0.875% Floor 0.750% 12/15/2034 | 0.990% | 5,155,000 | 5,138,942 | |
Wells Fargo Commercial Mortgage Trust(a),(b),(f) | ||||
Series 2021-FCMT Class A | ||||
1-month USD LIBOR + 1.200% Floor 1.200% 05/15/2031 | 1.300% | 6,250,000 | 6,250,000 | |
Total Commercial Mortgage-Backed Securities - Non-Agency (Cost $249,793,681) | 253,249,323 |
Common Stocks 0.0% | ||
Issuer | Shares | Value ($) |
Financials 0.0% | ||
Insurance 0.0% | ||
Mr. Cooper Group, Inc.(i) | 4,518 | 155,781 |
WMI Holdings Corp. Escrow(c),(d),(i) | 2,725 | — |
Total | 155,781 | |
Total Financials | 155,781 | |
Industrials 0.0% | ||
Airlines 0.0% | ||
United Airlines Holdings, Inc.(i) | 1,493 | 81,219 |
Total Industrials | 81,219 | |
Total Common Stocks (Cost $1,511,077) | 237,000 |
Convertible Bonds 0.1% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Banking 0.1% | ||||
BBVA Bancomer SA(a),(j) | ||||
Subordinated | ||||
11/12/2029 | 5.350% | 1,405,000 | 1,455,854 | |
Cable and Satellite 0.0% | ||||
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 440,000 | 463,100 | |
Total Convertible Bonds (Cost $1,824,576) | 1,918,954 | |||
Corporate Bonds & Notes 26.4% | ||||
Aerospace & Defense 0.5% | ||||
Bombardier, Inc.(a) | ||||
10/15/2022 | 6.000% | 194,000 | 193,871 | |
12/01/2024 | 7.500% | 589,000 | 597,786 | |
04/15/2027 | 7.875% | 34,000 | 33,924 | |
Moog, Inc.(a) | ||||
12/15/2027 | 4.250% | 229,000 | 235,462 | |
Northrop Grumman Corp. | ||||
01/15/2028 | 3.250% | 3,490,000 | 3,774,145 | |
TransDigm, Inc.(a) | ||||
12/15/2025 | 8.000% | 394,000 | 428,031 | |
03/15/2026 | 6.250% | 2,697,000 | 2,855,680 | |
01/15/2029 | 4.625% | 75,000 | 74,004 | |
05/01/2029 | 4.875% | 906,000 | 892,579 | |
TransDigm, Inc. | ||||
06/15/2026 | 6.375% | 993,000 | 1,029,274 | |
03/15/2027 | 7.500% | 73,000 | 78,368 | |
11/15/2027 | 5.500% | 457,000 | 475,375 |
Columbia Total Return Bond Fund | Annual Report 2021 | 13 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
United Technologies Corp. | ||||
11/16/2028 | 4.125% | 2,270,000 | 2,575,955 | |
Total | 13,244,454 | |||
Airlines 0.1% | ||||
American Airlines, Inc./AAdvantage Loyalty IP Ltd.(a) | ||||
04/20/2026 | 5.500% | 1,257,000 | 1,319,894 | |
04/20/2029 | 5.750% | 192,066 | 205,873 | |
Delta Air Lines, Inc. | ||||
01/15/2026 | 7.375% | 380,000 | 445,479 | |
Hawaiian Brand Intellectual Property Ltd./Miles Loyalty Ltd.(a) | ||||
01/20/2026 | 5.750% | 413,100 | 436,600 | |
United Airlines, Inc.(a) | ||||
04/15/2026 | 4.375% | 320,000 | 332,009 | |
04/15/2029 | 4.625% | 357,000 | 370,787 | |
Total | 3,110,642 | |||
Automotive 0.5% | ||||
American Axle & Manufacturing, Inc. | ||||
03/15/2026 | 6.250% | 494,000 | 507,686 | |
04/01/2027 | 6.500% | 29,000 | 30,631 | |
Clarios Global LP(a) | ||||
05/15/2025 | 6.750% | 132,000 | 141,686 | |
Ford Motor Co. | ||||
04/21/2023 | 8.500% | 50,000 | 56,001 | |
04/22/2025 | 9.000% | 446,000 | 544,831 | |
04/22/2030 | 9.625% | 15,000 | 21,042 | |
Ford Motor Credit Co. LLC | ||||
03/18/2024 | 5.584% | 1,014,000 | 1,105,289 | |
09/08/2024 | 3.664% | 934,000 | 972,427 | |
11/13/2025 | 3.375% | 1,019,000 | 1,044,112 | |
01/09/2027 | 4.271% | 630,000 | 664,839 | |
08/17/2027 | 4.125% | 540,000 | 564,553 | |
02/16/2028 | 2.900% | 329,000 | 322,380 | |
11/13/2030 | 4.000% | 353,000 | 360,307 | |
IAA Spinco, Inc.(a) | ||||
06/15/2027 | 5.500% | 740,000 | 778,013 | |
IHO Verwaltungs GmbH(a),(k) | ||||
09/15/2026 | 4.750% | 295,000 | 301,771 | |
KAR Auction Services, Inc.(a) | ||||
06/01/2025 | 5.125% | 2,164,000 | 2,191,052 | |
Panther BF Aggregator 2 LP/Finance Co., Inc.(a) | ||||
05/15/2026 | 6.250% | 1,095,000 | 1,162,184 | |
05/15/2027 | 8.500% | 592,000 | 639,115 | |
Real Hero Merger Sub 2, Inc.(a) | ||||
02/01/2029 | 6.250% | 168,000 | 174,042 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Tenneco, Inc.(a) | ||||
01/15/2029 | 7.875% | 618,000 | 696,079 | |
04/15/2029 | 5.125% | 347,000 | 344,850 | |
Total | 12,622,890 | |||
Banking 3.0% | ||||
Bank of America Corp.(j) | ||||
07/23/2031 | 1.898% | 18,920,000 | 17,958,472 | |
Citigroup, Inc.(j) | ||||
06/03/2031 | 2.572% | 4,815,000 | 4,837,304 | |
Citigroup, Inc.(f),(j) | ||||
05/01/2032 | 2.561% | 4,637,000 | 4,632,994 | |
Goldman Sachs Group, Inc. (The)(j) | ||||
05/01/2029 | 4.223% | 5,310,000 | 6,010,482 | |
JPMorgan Chase & Co.(j) | ||||
10/15/2030 | 2.739% | 11,295,000 | 11,590,595 | |
04/22/2032 | 2.580% | 11,215,000 | 11,262,885 | |
Morgan Stanley(j) | ||||
01/22/2031 | 2.699% | 1,750,000 | 1,788,570 | |
04/28/2032 | 1.928% | 2,989,000 | 2,835,043 | |
Washington Mutual Bank(c),(d),(l) | ||||
Subordinated | ||||
01/15/2015 | 0.000% | 27,379,000 | 41,069 | |
Wells Fargo & Co. | ||||
10/23/2026 | 3.000% | 3,855,000 | 4,156,696 | |
Wells Fargo & Co.(j) | ||||
02/11/2031 | 2.572% | 10,120,000 | 10,232,384 | |
Total | 75,346,494 | |||
Brokerage/Asset Managers/Exchanges 0.1% | ||||
Advisor Group Holdings, Inc.(a) | ||||
08/01/2027 | 10.750% | 46,000 | 51,110 | |
AG Issuer LLC(a) | ||||
03/01/2028 | 6.250% | 45,000 | 46,590 | |
Aretec Escrow Issuer, Inc.(a) | ||||
04/01/2029 | 7.500% | 260,000 | 266,473 | |
Hightower Holding LLC(a) | ||||
04/15/2029 | 6.750% | 597,000 | 611,023 | |
NFP Corp.(a) | ||||
05/15/2025 | 7.000% | 173,000 | 186,504 | |
08/15/2028 | 6.875% | 1,201,000 | 1,259,203 | |
Total | 2,420,903 | |||
Building Materials 0.6% | ||||
American Builders & Contractors Supply Co., Inc.(a) | ||||
05/15/2026 | 5.875% | 921,000 | 950,345 | |
01/15/2028 | 4.000% | 445,000 | 453,583 |
14 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Beacon Roofing Supply, Inc.(a) | ||||
11/01/2025 | 4.875% | 1,745,000 | 1,790,015 | |
11/15/2026 | 4.500% | 485,000 | 502,849 | |
Beacon Roofing Supply, Inc.(a),(f) | ||||
05/15/2029 | 4.125% | 424,000 | 423,029 | |
Cemex SAB de CV(a) | ||||
11/19/2029 | 5.450% | 8,704,000 | 9,549,032 | |
Core & Main LP(a) | ||||
08/15/2025 | 6.125% | 796,000 | 814,159 | |
CP Atlas Buyer Inc.(a) | ||||
12/01/2028 | 7.000% | 256,000 | 265,670 | |
Interface, Inc.(a) | ||||
12/01/2028 | 5.500% | 197,000 | 205,635 | |
James Hardie International Finance DAC(a) | ||||
01/15/2028 | 5.000% | 250,000 | 265,578 | |
White Cap Buyer LLC(a) | ||||
10/15/2028 | 6.875% | 389,000 | 412,919 | |
Total | 15,632,814 | |||
Cable and Satellite 1.1% | ||||
CCO Holdings LLC/Capital Corp.(a) | ||||
02/15/2026 | 5.750% | 766,000 | 791,659 | |
05/01/2027 | 5.125% | 396,000 | 414,768 | |
05/01/2027 | 5.875% | 834,000 | 861,684 | |
06/01/2029 | 5.375% | 233,000 | 252,773 | |
03/01/2030 | 4.750% | 862,000 | 899,439 | |
08/15/2030 | 4.500% | 1,694,000 | 1,726,673 | |
02/01/2031 | 4.250% | 288,000 | 288,038 | |
05/01/2032 | 4.500% | 467,000 | 471,803 | |
Charter Communications Operating LLC/Capital | ||||
05/01/2047 | 5.375% | 575,000 | 673,943 | |
03/01/2050 | 4.800% | 5,625,000 | 6,181,734 | |
04/01/2061 | 3.850% | 620,000 | 569,707 | |
CSC Holdings LLC | ||||
06/01/2024 | 5.250% | 871,000 | 943,727 | |
CSC Holdings LLC(a) | ||||
05/15/2026 | 5.500% | 480,000 | 493,555 | |
02/01/2028 | 5.375% | 952,000 | 1,002,266 | |
01/15/2030 | 5.750% | 598,000 | 636,104 | |
12/01/2030 | 4.125% | 1,399,000 | 1,391,917 | |
12/01/2030 | 4.625% | 358,000 | 350,023 | |
02/15/2031 | 3.375% | 359,000 | 337,502 | |
CSC Holdings LLC(a),(f) | ||||
11/15/2031 | 5.000% | 237,000 | 237,271 | |
DISH DBS Corp. | ||||
07/15/2022 | 5.875% | 739,000 | 773,261 | |
11/15/2024 | 5.875% | 192,000 | 207,823 | |
07/01/2026 | 7.750% | 1,217,000 | 1,402,944 | |
07/01/2028 | 7.375% | 250,000 | 269,933 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Radiate Holdco LLC/Finance, Inc.(a) | ||||
09/15/2026 | 4.500% | 257,000 | 261,489 | |
09/15/2028 | 6.500% | 495,000 | 516,497 | |
Sirius XM Radio, Inc.(a) | ||||
07/15/2024 | 4.625% | 1,136,000 | 1,168,717 | |
08/01/2027 | 5.000% | 347,000 | 363,212 | |
07/01/2030 | 4.125% | 363,000 | 363,191 | |
Virgin Media Finance PLC(a) | ||||
07/15/2030 | 5.000% | 805,000 | 802,976 | |
Virgin Media Secured Finance PLC(a) | ||||
08/15/2026 | 5.500% | 1,131,000 | 1,174,597 | |
05/15/2029 | 5.500% | 469,000 | 500,936 | |
Ziggo Bond Co. BV(a) | ||||
02/28/2030 | 5.125% | 555,000 | 568,557 | |
Ziggo Bond Finance BV(a) | ||||
01/15/2027 | 6.000% | 335,000 | 351,552 | |
Ziggo BV(a) | ||||
01/15/2027 | 5.500% | 222,000 | 230,809 | |
01/15/2030 | 4.875% | 730,000 | 750,055 | |
Total | 28,231,135 | |||
Chemicals 0.4% | ||||
Axalta Coating Systems LLC(a) | ||||
02/15/2029 | 3.375% | 328,000 | 318,422 | |
Axalta Coating Systems LLC/Dutch Holding B BV(a) | ||||
06/15/2027 | 4.750% | 607,000 | 637,048 | |
Element Solutions, Inc.(a) | ||||
09/01/2028 | 3.875% | 618,000 | 616,560 | |
HB Fuller Co. | ||||
10/15/2028 | 4.250% | 188,000 | 191,303 | |
Herens Holdco Sarl(a),(f) | ||||
05/15/2028 | 4.750% | 374,000 | 374,000 | |
Illuminate Buyer LLC/Holdings IV, Inc.(a) | ||||
07/01/2028 | 9.000% | 398,000 | 445,740 | |
INEOS Group Holdings SA(a) | ||||
08/01/2024 | 5.625% | 366,000 | 368,536 | |
INEOS Quattro Finance 2 Plc(a) | ||||
01/15/2026 | 3.375% | 739,000 | 738,978 | |
Ingevity Corp.(a) | ||||
11/01/2028 | 3.875% | 494,000 | 492,171 | |
Innophos Holdings, Inc.(a) | ||||
02/15/2028 | 9.375% | 381,000 | 414,343 | |
Iris Holdings, Inc.(a),(k) | ||||
02/15/2026 | 8.750% | 279,000 | 286,547 | |
LYB International Finance III LLC | ||||
05/01/2050 | 4.200% | 1,445,000 | 1,582,592 | |
Minerals Technologies, Inc.(a) | ||||
07/01/2028 | 5.000% | 140,000 | 146,680 |
Columbia Total Return Bond Fund | Annual Report 2021 | 15 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Phosagro OAO Via Phosagro Bond Funding DAC(a) | ||||
11/03/2021 | 3.950% | 304,000 | 308,129 | |
PQ Corp.(a) | ||||
12/15/2025 | 5.750% | 236,000 | 242,069 | |
SPCM SA(a) | ||||
09/15/2025 | 4.875% | 82,000 | 84,057 | |
Starfruit Finco BV/US Holdco LLC(a) | ||||
10/01/2026 | 8.000% | 1,029,000 | 1,093,243 | |
WR Grace & Co.(a) | ||||
06/15/2027 | 4.875% | 561,000 | 584,799 | |
Total | 8,925,217 | |||
Construction Machinery 0.1% | ||||
H&E Equipment Services, Inc.(a) | ||||
12/15/2028 | 3.875% | 806,000 | 790,213 | |
Herc Holdings, Inc.(a) | ||||
07/15/2027 | 5.500% | 129,000 | 136,396 | |
NESCO Holdings II, Inc.(a) | ||||
04/15/2029 | 5.500% | 373,000 | 384,190 | |
Ritchie Bros. Auctioneers, Inc.(a) | ||||
01/15/2025 | 5.375% | 183,000 | 188,148 | |
United Rentals North America, Inc. | ||||
09/15/2026 | 5.875% | 356,000 | 372,161 | |
05/15/2027 | 5.500% | 361,000 | 384,809 | |
02/15/2031 | 3.875% | 194,000 | 195,355 | |
Total | 2,451,272 | |||
Consumer Cyclical Services 0.1% | ||||
APX Group, Inc. | ||||
12/01/2022 | 7.875% | 188,000 | 188,886 | |
09/01/2023 | 7.625% | 155,000 | 159,331 | |
11/01/2024 | 8.500% | 227,000 | 236,786 | |
Arches Buyer, Inc.(a) | ||||
06/01/2028 | 4.250% | 155,000 | 154,248 | |
12/01/2028 | 6.125% | 93,000 | 95,726 | |
ASGN, Inc.(a) | ||||
05/15/2028 | 4.625% | 398,000 | 414,148 | |
Frontdoor, Inc.(a) | ||||
08/15/2026 | 6.750% | 662,000 | 702,162 | |
Match Group, Inc.(a) | ||||
06/01/2028 | 4.625% | 97,000 | 100,131 | |
02/15/2029 | 5.625% | 79,000 | 85,516 | |
Staples, Inc.(a) | ||||
04/15/2026 | 7.500% | 334,000 | 345,918 | |
04/15/2027 | 10.750% | 28,000 | 28,969 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Uber Technologies, Inc.(a) | ||||
05/15/2025 | 7.500% | 688,000 | 743,538 | |
01/15/2028 | 6.250% | 200,000 | 217,091 | |
Total | 3,472,450 | |||
Consumer Products 0.1% | ||||
CD&R Smokey Buyer, Inc.(a) | ||||
07/15/2025 | 6.750% | 384,000 | 410,270 | |
Energizer Holdings, Inc.(a) | ||||
03/31/2029 | 4.375% | 382,000 | 379,857 | |
Mattel, Inc.(a) | ||||
12/31/2025 | 6.750% | 90,000 | 94,633 | |
04/01/2026 | 3.375% | 247,000 | 255,742 | |
12/15/2027 | 5.875% | 446,000 | 489,891 | |
04/01/2029 | 3.750% | 765,000 | 782,731 | |
Mattel, Inc. | ||||
11/01/2041 | 5.450% | 28,000 | 32,004 | |
Newell Brands, Inc. | ||||
06/01/2025 | 4.875% | 371,000 | 410,975 | |
Prestige Brands, Inc.(a) | ||||
01/15/2028 | 5.125% | 214,000 | 224,313 | |
04/01/2031 | 3.750% | 255,000 | 244,600 | |
Spectrum Brands, Inc. | ||||
07/15/2025 | 5.750% | 202,000 | 207,889 | |
Spectrum Brands, Inc.(a) | ||||
03/15/2031 | 3.875% | 247,000 | 242,134 | |
Total | 3,775,039 | |||
Diversified Manufacturing 0.4% | ||||
BWX Technologies, Inc.(a) | ||||
07/15/2026 | 5.375% | 1,111,000 | 1,146,915 | |
06/30/2028 | 4.125% | 314,000 | 320,205 | |
Carrier Global Corp. | ||||
04/05/2040 | 3.377% | 4,965,000 | 5,009,152 | |
CFX Escrow Corp.(a) | ||||
02/15/2026 | 6.375% | 349,000 | 371,936 | |
Gates Global LLC/Co.(a) | ||||
01/15/2026 | 6.250% | 876,000 | 918,370 | |
Resideo Funding, Inc.(a) | ||||
11/01/2026 | 6.125% | 408,000 | 430,984 | |
Stevens Holding Co., Inc.(a) | ||||
10/01/2026 | 6.125% | 282,000 | 303,861 | |
Vertical Holdco GmbH(a) | ||||
07/15/2028 | 7.625% | 145,000 | 158,019 | |
Vertical US Newco, Inc.(a) | ||||
07/15/2027 | 5.250% | 340,000 | 356,859 | |
WESCO Distribution, Inc. | ||||
06/15/2024 | 5.375% | 160,000 | 163,079 |
16 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
WESCO Distribution, Inc.(a) | ||||
06/15/2025 | 7.125% | 1,621,000 | 1,754,764 | |
06/15/2028 | 7.250% | 346,000 | 383,886 | |
Total | 11,318,030 | |||
Electric 2.8% | ||||
AEP Texas, Inc. | ||||
01/15/2050 | 3.450% | 2,995,000 | 3,008,133 | |
Appalachian Power Co. | ||||
05/15/2044 | 4.400% | 4,045,000 | 4,635,354 | |
Calpine Corp.(a) | ||||
06/01/2026 | 5.250% | 131,000 | 134,440 | |
02/15/2028 | 4.500% | 1,125,000 | 1,136,483 | |
03/15/2028 | 5.125% | 293,000 | 297,768 | |
02/01/2031 | 5.000% | 92,000 | 90,570 | |
Clearway Energy Operating LLC | ||||
09/15/2026 | 5.000% | 887,000 | 916,007 | |
Clearway Energy Operating LLC(a) | ||||
03/15/2028 | 4.750% | 744,000 | 780,112 | |
02/15/2031 | 3.750% | 1,511,000 | 1,489,431 | |
CMS Energy Corp. | ||||
03/01/2024 | 3.875% | 2,005,000 | 2,158,102 | |
11/15/2025 | 3.600% | 260,000 | 283,745 | |
03/31/2043 | 4.700% | 230,000 | 266,147 | |
Consolidated Edison Co. of New York, Inc. | ||||
06/15/2047 | 3.875% | 1,265,000 | 1,374,155 | |
DTE Energy Co. | ||||
10/01/2026 | 2.850% | 8,462,000 | 9,023,507 | |
Emera US Finance LP | ||||
06/15/2046 | 4.750% | 6,290,000 | 7,222,546 | |
Eversource Energy | ||||
01/15/2028 | 3.300% | 3,472,000 | 3,750,177 | |
Georgia Power Co. | ||||
03/15/2042 | 4.300% | 1,215,000 | 1,398,667 | |
NextEra Energy Operating Partners LP(a) | ||||
07/15/2024 | 4.250% | 988,000 | 1,048,185 | |
09/15/2027 | 4.500% | 240,000 | 259,524 | |
NRG Energy, Inc. | ||||
01/15/2027 | 6.625% | 238,000 | 247,924 | |
01/15/2028 | 5.750% | 15,000 | 15,930 | |
NRG Energy, Inc.(a) | ||||
02/15/2029 | 3.375% | 270,000 | 264,848 | |
06/15/2029 | 5.250% | 1,142,000 | 1,223,291 | |
02/15/2031 | 3.625% | 650,000 | 636,882 | |
Pacific Gas and Electric Co. | ||||
07/01/2050 | 4.950% | 4,910,000 | 5,022,668 | |
PacifiCorp | ||||
02/15/2050 | 4.150% | 2,080,000 | 2,423,300 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Pattern Energy Operations LP/Inc.(a) | ||||
08/15/2028 | 4.500% | 132,000 | 134,015 | |
PG&E Corp. | ||||
07/01/2028 | 5.000% | 80,000 | 84,075 | |
07/01/2030 | 5.250% | 147,000 | 156,927 | |
San Diego Gas & Electric Co. | ||||
04/15/2050 | 3.320% | 1,765,000 | 1,810,646 | |
Southern Co. (The) | ||||
07/01/2046 | 4.400% | 3,188,000 | 3,624,156 | |
TerraForm Power Operating LLC(a) | ||||
01/31/2028 | 5.000% | 79,000 | 85,015 | |
01/15/2030 | 4.750% | 494,000 | 514,748 | |
Vistra Operations Co. LLC(a) | ||||
09/01/2026 | 5.500% | 68,000 | 70,282 | |
02/15/2027 | 5.625% | 209,000 | 217,594 | |
07/31/2027 | 5.000% | 712,000 | 737,541 | |
WEC Energy Group, Inc. | ||||
10/15/2027 | 1.375% | 3,345,000 | 3,259,111 | |
Xcel Energy, Inc. | ||||
06/15/2028 | 4.000% | 3,155,000 | 3,539,294 | |
06/01/2030 | 3.400% | 6,370,000 | 6,885,172 | |
Total | 70,226,472 | |||
Environmental 0.2% | ||||
GFL Environmental, Inc.(a) | ||||
06/01/2025 | 4.250% | 262,000 | 271,103 | |
08/01/2025 | 3.750% | 1,266,000 | 1,287,868 | |
12/15/2026 | 5.125% | 407,000 | 427,408 | |
05/01/2027 | 8.500% | 726,000 | 797,832 | |
08/01/2028 | 4.000% | 293,000 | 280,375 | |
09/01/2028 | 3.500% | 445,000 | 429,304 | |
Waste Pro USA, Inc.(a) | ||||
02/15/2026 | 5.500% | 943,000 | 966,083 | |
Total | 4,459,973 | |||
Finance Companies 0.6% | ||||
GE Capital International Funding Co. Unlimited Co. | ||||
11/15/2035 | 4.418% | 10,500,000 | 12,077,475 | |
Global Aircraft Leasing Co., Ltd.(a),(k) | ||||
09/15/2024 | 6.500% | 216,909 | 215,426 | |
Navient Corp. | ||||
06/15/2022 | 6.500% | 602,000 | 632,006 | |
01/25/2023 | 5.500% | 225,000 | 235,487 | |
06/15/2026 | 6.750% | 235,000 | 253,487 | |
03/15/2028 | 4.875% | 256,000 | 250,841 | |
Provident Funding Associates LP/Finance Corp.(a) | ||||
06/15/2025 | 6.375% | 618,000 | 621,361 | |
Quicken Loans LLC/Co-Issuer, Inc.(a) | ||||
03/01/2029 | 3.625% | 471,000 | 458,289 | |
03/01/2031 | 3.875% | 555,000 | 541,064 |
Columbia Total Return Bond Fund | Annual Report 2021 | 17 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
SLM Corp. | ||||
10/29/2025 | 4.200% | 245,000 | 257,835 | |
Springleaf Finance Corp. | ||||
03/15/2024 | 6.125% | 502,000 | 542,273 | |
03/15/2025 | 6.875% | 181,000 | 205,603 | |
06/01/2025 | 8.875% | 57,000 | 63,164 | |
Total | 16,354,311 | |||
Food and Beverage 1.9% | ||||
Anheuser-Busch Companies LLC/InBev Worldwide, Inc. | ||||
02/01/2046 | 4.900% | 13,543,000 | 16,178,670 | |
Bacardi Ltd.(a) | ||||
05/15/2048 | 5.300% | 5,595,000 | 6,977,556 | |
Cott Holdings, Inc.(a) | ||||
04/01/2025 | 5.500% | 997,000 | 1,024,417 | |
FAGE International SA/USA Dairy Industry, Inc.(a) | ||||
08/15/2026 | 5.625% | 1,399,000 | 1,445,941 | |
Grupo Bimbo SAB de CV(a) | ||||
06/27/2024 | 3.875% | 971,000 | 1,053,773 | |
JBS USA LUX SA/Food Co./Finance, Inc.(a) | ||||
01/15/2030 | 5.500% | 223,000 | 245,802 | |
Kraft Heinz Foods Co. | ||||
06/01/2046 | 4.375% | 7,724,000 | 8,273,573 | |
Lamb Weston Holdings, Inc.(a) | ||||
05/15/2028 | 4.875% | 57,000 | 62,753 | |
MHP SE(a) | ||||
05/10/2024 | 7.750% | 581,000 | 614,071 | |
Mondelez International, Inc. | ||||
04/13/2030 | 2.750% | 4,715,000 | 4,868,387 | |
Performance Food Group, Inc.(a) | ||||
05/01/2025 | 6.875% | 433,000 | 462,436 | |
Pilgrim’s Pride Corp.(a) | ||||
09/30/2027 | 5.875% | 491,000 | 522,544 | |
04/15/2031 | 4.250% | 1,302,000 | 1,315,639 | |
Post Holdings, Inc.(a) | ||||
03/01/2027 | 5.750% | 1,241,000 | 1,300,439 | |
01/15/2028 | 5.625% | 92,000 | 97,155 | |
04/15/2030 | 4.625% | 624,000 | 629,878 | |
09/15/2031 | 4.500% | 832,000 | 826,137 | |
Primo Water Holdings, Inc.(a) | ||||
04/30/2029 | 4.375% | 450,000 | 448,724 | |
Simmons Foods, Inc./Prepared Foods, Inc./Pet Food, Inc./Feed(a) | ||||
03/01/2029 | 4.625% | 317,000 | 319,394 | |
Triton Water Holdings, Inc.(a) | ||||
04/01/2029 | 6.250% | 438,000 | 443,418 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
US Foods, Inc.(a) | ||||
04/15/2025 | 6.250% | 563,000 | 598,667 | |
02/15/2029 | 4.750% | 585,000 | 592,256 | |
Total | 48,301,630 | |||
Gaming 0.5% | ||||
Boyd Gaming Corp.(a) | ||||
06/01/2025 | 8.625% | 47,000 | 52,045 | |
Boyd Gaming Corp. | ||||
04/01/2026 | 6.375% | 11,000 | 11,358 | |
08/15/2026 | 6.000% | 313,000 | 324,562 | |
12/01/2027 | 4.750% | 332,000 | 340,299 | |
Caesars Resort Collection LLC/CRC Finco, Inc.(a) | ||||
10/15/2025 | 5.250% | 774,000 | 780,703 | |
CCM Merger, Inc.(a) | ||||
05/01/2026 | 6.375% | 133,000 | 138,945 | |
Colt Merger Sub, Inc.(a) | ||||
07/01/2025 | 5.750% | 428,000 | 450,966 | |
07/01/2025 | 6.250% | 1,442,000 | 1,533,490 | |
07/01/2027 | 8.125% | 646,000 | 718,046 | |
International Game Technology PLC(a) | ||||
02/15/2025 | 6.500% | 568,000 | 628,660 | |
04/15/2026 | 4.125% | 293,000 | 301,915 | |
MGM Growth Properties Operating Partnership LP/Finance Co-Issuer, Inc.(a) | ||||
06/15/2025 | 4.625% | 413,000 | 439,911 | |
MGM Growth Properties Operating Partnership LP/Finance Co-Issuer, Inc. | ||||
09/01/2026 | 4.500% | 538,000 | 569,306 | |
02/01/2027 | 5.750% | 223,000 | 249,000 | |
Midwest Gaming Borrower LLC(a) | ||||
05/01/2029 | 4.875% | 844,000 | 843,727 | |
Scientific Games International, Inc.(a) | ||||
07/01/2025 | 8.625% | 90,000 | 98,476 | |
10/15/2025 | 5.000% | 1,979,000 | 2,043,744 | |
03/15/2026 | 8.250% | 283,000 | 305,769 | |
05/15/2028 | 7.000% | 88,000 | 94,882 | |
11/15/2029 | 7.250% | 603,000 | 663,936 | |
Stars Group Holdings BV/Co-Borrower LLC(a) | ||||
07/15/2026 | 7.000% | 80,000 | 83,550 | |
VICI Properties LP/Note Co., Inc.(a) | ||||
02/15/2025 | 3.500% | 495,000 | 506,271 | |
12/01/2026 | 4.250% | 358,000 | 370,162 | |
02/15/2027 | 3.750% | 106,000 | 106,809 | |
12/01/2029 | 4.625% | 55,000 | 57,181 | |
08/15/2030 | 4.125% | 85,000 | 86,384 | |
Wynn Las Vegas LLC/Capital Corp.(a) | ||||
03/01/2025 | 5.500% | 137,000 | 145,938 | |
Wynn Resorts Finance LLC/Capital Corp.(a) | ||||
04/15/2025 | 7.750% | 260,000 | 280,673 | |
Total | 12,226,708 |
18 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Health Care 1.5% | ||||
Acadia Healthcare Co., Inc.(a) | ||||
07/01/2028 | 5.500% | 290,000 | 306,980 | |
04/15/2029 | 5.000% | 499,000 | 515,745 | |
Avantor Funding, Inc.(a) | ||||
07/15/2028 | 4.625% | 485,000 | 507,903 | |
Becton Dickinson and Co.(b) | ||||
3-month USD LIBOR + 1.030% 06/06/2022 | 1.206% | 4,916,000 | 4,958,637 | |
Becton Dickinson and Co. | ||||
06/06/2024 | 3.363% | 2,000,000 | 2,153,730 | |
02/11/2031 | 1.957% | 2,710,000 | 2,583,230 | |
Change Healthcare Holdings LLC/Finance, Inc.(a) | ||||
03/01/2025 | 5.750% | 390,000 | 396,956 | |
Charles River Laboratories International, Inc.(a) | ||||
05/01/2028 | 4.250% | 42,000 | 43,730 | |
03/15/2029 | 3.750% | 215,000 | 218,773 | |
03/15/2031 | 4.000% | 172,000 | 176,931 | |
CHS/Community Health Systems, Inc.(a) | ||||
02/15/2025 | 6.625% | 438,000 | 462,261 | |
03/15/2026 | 8.000% | 392,000 | 422,116 | |
03/15/2027 | 5.625% | 129,000 | 136,675 | |
04/15/2029 | 6.875% | 402,000 | 420,507 | |
CVS Health Corp. | ||||
03/25/2048 | 5.050% | 8,650,000 | 10,645,359 | |
Encompass Health Corp. | ||||
02/01/2028 | 4.500% | 422,000 | 437,200 | |
HCA, Inc. | ||||
02/01/2025 | 5.375% | 1,273,000 | 1,418,477 | |
09/01/2028 | 5.625% | 223,000 | 260,059 | |
02/01/2029 | 5.875% | 873,000 | 1,028,719 | |
09/01/2030 | 3.500% | 529,000 | 543,313 | |
Hill-Rom Holdings, Inc.(a) | ||||
02/15/2025 | 5.000% | 318,000 | 326,332 | |
09/15/2027 | 4.375% | 274,000 | 284,032 | |
Hologic, Inc.(a) | ||||
02/15/2029 | 3.250% | 170,000 | 166,921 | |
IQVIA, Inc.(a) | ||||
10/15/2026 | 5.000% | 970,000 | 1,003,616 | |
Ortho-Clinical Diagnostics, Inc./SA(a) | ||||
06/01/2025 | 7.375% | 104,000 | 112,035 | |
02/01/2028 | 7.250% | 23,000 | 25,217 | |
RP Escrow Issuer LLC(a) | ||||
12/15/2025 | 5.250% | 501,000 | 521,154 | |
Select Medical Corp.(a) | ||||
08/15/2026 | 6.250% | 1,751,000 | 1,862,054 | |
Syneos Health, Inc.(a) | ||||
01/15/2029 | 3.625% | 159,000 | 155,812 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Teleflex, Inc.(a) | ||||
06/01/2028 | 4.250% | 386,000 | 398,127 | |
Tenet Healthcare Corp. | ||||
07/15/2024 | 4.625% | 1,237,000 | 1,255,971 | |
05/01/2025 | 5.125% | 122,000 | 123,526 | |
Tenet Healthcare Corp.(a) | ||||
04/01/2025 | 7.500% | 366,000 | 394,403 | |
01/01/2026 | 4.875% | 220,000 | 228,529 | |
02/01/2027 | 6.250% | 468,000 | 490,699 | |
11/01/2027 | 5.125% | 774,000 | 813,514 | |
06/15/2028 | 4.625% | 69,000 | 71,243 | |
10/01/2028 | 6.125% | 834,000 | 878,257 | |
US Acute Care Solutions LLC(a) | ||||
03/01/2026 | 6.375% | 317,000 | 330,766 | |
Total | 37,079,509 | |||
Healthcare Insurance 0.1% | ||||
Centene Corp.(a) | ||||
06/01/2026 | 5.375% | 162,000 | 168,919 | |
08/15/2026 | 5.375% | 158,000 | 165,692 | |
Centene Corp. | ||||
12/15/2027 | 4.250% | 215,000 | 225,462 | |
12/15/2029 | 4.625% | 916,000 | 994,097 | |
10/15/2030 | 3.000% | 752,000 | 746,502 | |
Total | 2,300,672 | |||
Home Construction 0.1% | ||||
Meritage Homes Corp. | ||||
06/01/2025 | 6.000% | 277,000 | 315,293 | |
Meritage Homes Corp.(a) | ||||
04/15/2029 | 3.875% | 618,000 | 635,221 | |
Shea Homes LP/Funding Corp.(a) | ||||
02/15/2028 | 4.750% | 70,000 | 71,437 | |
04/01/2029 | 4.750% | 346,000 | 350,963 | |
Taylor Morrison Communities, Inc.(a) | ||||
01/15/2028 | 5.750% | 84,000 | 94,778 | |
08/01/2030 | 5.125% | 514,000 | 565,291 | |
Taylor Morrison Communities, Inc./Holdings II(a) | ||||
04/15/2023 | 5.875% | 284,000 | 304,963 | |
TRI Pointe Group, Inc. | ||||
06/15/2028 | 5.700% | 144,000 | 160,143 | |
TRI Pointe Group, Inc./Homes | ||||
06/15/2024 | 5.875% | 143,000 | 159,447 | |
Total | 2,657,536 |
Columbia Total Return Bond Fund | Annual Report 2021 | 19 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Independent Energy 1.5% | ||||
Apache Corp. | ||||
11/15/2025 | 4.625% | 152,000 | 160,524 | |
11/15/2027 | 4.875% | 427,000 | 450,357 | |
01/15/2030 | 4.250% | 1,168,000 | 1,171,759 | |
09/01/2040 | 5.100% | 1,860,000 | 1,908,989 | |
02/01/2042 | 5.250% | 337,000 | 350,758 | |
04/15/2043 | 4.750% | 365,000 | 362,577 | |
01/15/2044 | 4.250% | 193,000 | 180,693 | |
Callon Petroleum Co. | ||||
10/01/2024 | 6.125% | 71,000 | 65,683 | |
07/01/2026 | 6.375% | 920,000 | 804,802 | |
Canadian Natural Resources Ltd. | ||||
06/01/2027 | 3.850% | 1,825,000 | 1,995,362 | |
06/30/2033 | 6.450% | 855,000 | 1,101,467 | |
Carrizo Oil & Gas, Inc. | ||||
04/15/2023 | 6.250% | 277,000 | 263,112 | |
CNX Resources Corp.(a) | ||||
03/14/2027 | 7.250% | 595,000 | 642,529 | |
01/15/2029 | 6.000% | 123,000 | 131,002 | |
Comstock Resources, Inc. | ||||
08/15/2026 | 9.750% | 80,000 | 86,988 | |
08/15/2026 | 9.750% | 69,000 | 74,832 | |
Comstock Resources, Inc.(a) | ||||
03/01/2029 | 6.750% | 284,000 | 290,127 | |
Continental Resources, Inc.(a) | ||||
01/15/2031 | 5.750% | 295,000 | 342,229 | |
CrownRock LP/Finance, Inc.(a) | ||||
10/15/2025 | 5.625% | 648,000 | 670,714 | |
05/01/2029 | 5.000% | 223,000 | 228,239 | |
Double Eagle III Midco 1 LLC/Finance Corp.(a) | ||||
12/15/2025 | 7.750% | 621,000 | 702,432 | |
Encana Corp. | ||||
08/15/2034 | 6.500% | 17,000 | 21,674 | |
Endeavor Energy Resources LP/Finance, Inc.(a) | ||||
07/15/2025 | 6.625% | 202,000 | 215,224 | |
01/30/2028 | 5.750% | 491,000 | 523,968 | |
Energuate Trust(a) | ||||
05/03/2027 | 5.875% | 1,810,000 | 1,905,990 | |
EQT Corp. | ||||
10/01/2027 | 3.900% | 706,000 | 735,771 | |
01/15/2029 | 5.000% | 259,000 | 282,775 | |
EQT Corp.(j) | ||||
02/01/2030 | 8.750% | 149,000 | 190,535 | |
Hilcorp Energy I LP/Finance Co.(a) | ||||
11/01/2028 | 6.250% | 22,000 | 22,875 | |
02/01/2029 | 5.750% | 264,000 | 269,454 | |
02/01/2031 | 6.000% | 282,000 | 292,397 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Indigo Natural Resources LLC(a) | ||||
02/01/2029 | 5.375% | 214,000 | 212,374 | |
Matador Resources Co. | ||||
09/15/2026 | 5.875% | 1,069,000 | 1,065,749 | |
MEG Energy Corp.(a) | ||||
02/01/2029 | 5.875% | 161,000 | 165,100 | |
Newfield Exploration Co. | ||||
07/01/2024 | 5.625% | 97,000 | 108,078 | |
01/01/2026 | 5.375% | 222,000 | 248,708 | |
Occidental Petroleum Corp. | ||||
02/15/2023 | 2.700% | 905,000 | 910,276 | |
08/15/2024 | 2.900% | 644,000 | 642,485 | |
07/15/2025 | 8.000% | 213,000 | 248,617 | |
08/15/2029 | 3.500% | 2,060,000 | 1,968,518 | |
09/01/2030 | 6.625% | 896,000 | 1,023,003 | |
01/01/2031 | 6.125% | 2,894,000 | 3,225,767 | |
09/15/2036 | 6.450% | 4,303,000 | 4,899,082 | |
07/15/2044 | 4.500% | 1,650,000 | 1,474,758 | |
06/15/2045 | 4.625% | 447,000 | 407,055 | |
03/15/2046 | 6.600% | 1,175,000 | 1,304,334 | |
04/15/2046 | 4.400% | 3,287,000 | 2,904,764 | |
08/15/2049 | 4.400% | 311,000 | 270,730 | |
Ovintiv, Inc. | ||||
11/01/2031 | 7.200% | 40,000 | 52,062 | |
SM Energy Co. | ||||
09/15/2026 | 6.750% | 422,000 | 409,340 | |
01/15/2027 | 6.625% | 433,000 | 418,194 | |
WPX Energy, Inc. | ||||
06/15/2028 | 5.875% | 67,000 | 73,888 | |
Total | 38,478,720 | |||
Integrated Energy 0.1% | ||||
Cenovus Energy, Inc. | ||||
07/15/2025 | 5.375% | 355,000 | 403,392 | |
11/15/2039 | 6.750% | 257,000 | 326,348 | |
Lukoil International Finance BV(a) | ||||
04/24/2023 | 4.563% | 971,000 | 1,029,544 | |
Total | 1,759,284 | |||
Leisure 0.3% | ||||
Boyne USA, Inc.(a) | ||||
05/15/2029 | 4.750% | 170,000 | 174,714 | |
Carnival Corp.(a) | ||||
03/01/2026 | 7.625% | 358,000 | 392,066 | |
03/01/2027 | 5.750% | 933,000 | 984,739 | |
08/01/2027 | 9.875% | 365,000 | 429,511 | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp. | ||||
06/01/2024 | 5.375% | 225,000 | 226,970 |
20 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Cedar Fair LP/Canada’s Wonderland Co./Magnum Management Corp./Millennium Operations LLC(a) | ||||
05/01/2025 | 5.500% | 968,000 | 1,016,153 | |
10/01/2028 | 6.500% | 496,000 | 532,650 | |
Cinemark USA, Inc. | ||||
06/01/2023 | 4.875% | 623,000 | 622,217 | |
Cinemark USA, Inc.(a) | ||||
05/01/2025 | 8.750% | 138,000 | 150,210 | |
03/15/2026 | 5.875% | 695,000 | 721,105 | |
Live Nation Entertainment, Inc.(a) | ||||
11/01/2024 | 4.875% | 47,000 | 47,882 | |
03/15/2026 | 5.625% | 92,000 | 95,593 | |
05/15/2027 | 6.500% | 280,000 | 310,842 | |
NCL Corp Ltd.(a) | ||||
03/15/2026 | 5.875% | 322,000 | 337,298 | |
NCL Finance Ltd.(a) | ||||
03/15/2028 | 6.125% | 168,000 | 177,039 | |
Royal Caribbean Cruises Ltd.(a) | ||||
06/15/2023 | 9.125% | 146,000 | 161,025 | |
04/01/2028 | 5.500% | 570,000 | 597,780 | |
Royal Caribbean Cruises Ltd. | ||||
03/15/2028 | 3.700% | 180,000 | 170,936 | |
Silversea Cruise Finance Ltd.(a) | ||||
02/01/2025 | 7.250% | 354,000 | 366,253 | |
Six Flags Entertainment Corp.(a) | ||||
07/31/2024 | 4.875% | 491,000 | 496,109 | |
Six Flags Theme Parks, Inc.(a) | ||||
07/01/2025 | 7.000% | 61,000 | 65,791 | |
Viking Cruises Ltd.(a) | ||||
09/15/2027 | 5.875% | 223,000 | 218,557 | |
Viking Ocean Cruises Ship VII Ltd.(a) | ||||
02/15/2029 | 5.625% | 115,000 | 116,878 | |
VOC Escrow Ltd.(a) | ||||
02/15/2028 | 5.000% | 34,000 | 34,681 | |
Total | 8,446,999 | |||
Life Insurance 0.3% | ||||
Massachusetts Mutual Life Insurance Co.(a) | ||||
Subordinated | ||||
10/15/2070 | 3.729% | 1,306,000 | 1,316,760 | |
Peachtree Corners Funding Trust(a) | ||||
02/15/2025 | 3.976% | 2,100,000 | 2,306,997 | |
Teachers Insurance & Annuity Association of America(a) | ||||
Subordinated | ||||
09/15/2044 | 4.900% | 205,000 | 255,635 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Voya Financial, Inc. | ||||
06/15/2026 | 3.650% | 1,592,000 | 1,770,617 | |
06/15/2046 | 4.800% | 2,558,000 | 3,124,575 | |
Total | 8,774,584 | |||
Lodging 0.0% | ||||
Hilton Domestic Operating Co., Inc.(a) | ||||
05/01/2025 | 5.375% | 61,000 | 64,178 | |
05/01/2028 | 5.750% | 67,000 | 72,081 | |
02/15/2032 | 3.625% | 253,000 | 249,688 | |
Wyndham Hotels & Resorts, Inc.(a) | ||||
08/15/2028 | 4.375% | 312,000 | 321,537 | |
Total | 707,484 | |||
Media and Entertainment 0.4% | ||||
Clear Channel International BV(a) | ||||
08/01/2025 | 6.625% | 289,000 | 303,659 | |
Clear Channel Outdoor Holdings, Inc.(a) | ||||
04/15/2028 | 7.750% | 705,000 | 725,923 | |
Clear Channel Worldwide Holdings, Inc. | ||||
02/15/2024 | 9.250% | 196,000 | 204,281 | |
Clear Channel Worldwide Holdings, Inc.(a) | ||||
08/15/2027 | 5.125% | 672,000 | 682,280 | |
Diamond Sports Group LLC/Finance Co.(a) | ||||
08/15/2026 | 5.375% | 232,000 | 169,298 | |
08/15/2027 | 6.625% | 85,000 | 45,902 | |
iHeartCommunications, Inc. | ||||
05/01/2026 | 6.375% | 767,634 | 816,799 | |
05/01/2027 | 8.375% | 996,507 | 1,068,396 | |
iHeartCommunications, Inc.(a) | ||||
08/15/2027 | 5.250% | 392,000 | 405,712 | |
01/15/2028 | 4.750% | 275,000 | 280,728 | |
Lamar Media Corp. | ||||
02/15/2028 | 3.750% | 444,000 | 447,815 | |
01/15/2029 | 4.875% | 64,000 | 67,537 | |
Netflix, Inc. | ||||
04/15/2028 | 4.875% | 546,000 | 628,692 | |
11/15/2028 | 5.875% | 749,000 | 911,776 | |
05/15/2029 | 6.375% | 525,000 | 661,506 | |
Netflix, Inc.(a) | ||||
11/15/2029 | 5.375% | 167,000 | 198,367 | |
06/15/2030 | 4.875% | 126,000 | 146,177 | |
Nexstar Broadcasting, Inc.(a) | ||||
11/01/2028 | 4.750% | 299,000 | 304,396 | |
Nielsen Finance LLC/Co.(a) | ||||
10/01/2028 | 5.625% | 204,000 | 217,515 | |
10/01/2030 | 5.875% | 255,000 | 278,832 |
Columbia Total Return Bond Fund | Annual Report 2021 | 21 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Outfront Media Capital LLC/Corp.(a) | ||||
08/15/2027 | 5.000% | 268,000 | 276,988 | |
01/15/2029 | 4.250% | 207,000 | 205,271 | |
03/15/2030 | 4.625% | 144,000 | 143,089 | |
Playtika Holding Corp.(a) | ||||
03/15/2029 | 4.250% | 409,000 | 406,708 | |
Scripps Escrow II, Inc.(a) | ||||
01/15/2029 | 3.875% | 78,000 | 77,436 | |
01/15/2031 | 5.375% | 152,000 | 154,173 | |
Scripps Escrow, Inc.(a) | ||||
07/15/2027 | 5.875% | 46,000 | 48,368 | |
Total | 9,877,624 | |||
Metals and Mining 0.4% | ||||
Alcoa Nederland Holding BV(a) | ||||
09/30/2026 | 7.000% | 252,000 | 265,872 | |
03/31/2029 | 4.125% | 282,000 | 289,566 | |
Commercial Metals Co. | ||||
02/15/2031 | 3.875% | 60,000 | 59,733 | |
Constellium NV(a) | ||||
05/15/2024 | 5.750% | 61,000 | 61,709 | |
02/15/2026 | 5.875% | 863,000 | 889,940 | |
Constellium SE(a) | ||||
06/15/2028 | 5.625% | 961,000 | 1,021,109 | |
04/15/2029 | 3.750% | 528,000 | 516,753 | |
Freeport-McMoRan, Inc. | ||||
09/01/2029 | 5.250% | 432,000 | 479,029 | |
08/01/2030 | 4.625% | 512,000 | 563,926 | |
03/15/2043 | 5.450% | 914,000 | 1,116,114 | |
Hudbay Minerals, Inc.(a) | ||||
04/01/2026 | 4.500% | 392,000 | 397,564 | |
04/01/2029 | 6.125% | 655,000 | 698,031 | |
Novelis Corp.(a) | ||||
09/30/2026 | 5.875% | 1,839,000 | 1,918,580 | |
01/30/2030 | 4.750% | 824,000 | 858,531 | |
Total | 9,136,457 | |||
Midstream 1.6% | ||||
Cheniere Energy Partners LP | ||||
10/01/2026 | 5.625% | 1,287,000 | 1,341,697 | |
10/01/2029 | 4.500% | 392,000 | 409,028 | |
Cheniere Energy Partners LP(a) | ||||
03/01/2031 | 4.000% | 409,000 | 416,188 | |
Cheniere Energy, Inc.(a) | ||||
10/15/2028 | 4.625% | 593,000 | 618,283 | |
DCP Midstream Operating LP | ||||
03/15/2023 | 3.875% | 48,000 | 49,966 | |
05/15/2029 | 5.125% | 484,000 | 519,331 | |
04/01/2044 | 5.600% | 174,000 | 179,012 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Delek Logistics Partners LP/Finance Corp. | ||||
05/15/2025 | 6.750% | 143,000 | 145,282 | |
Enterprise Products Operating LLC | ||||
01/31/2060 | 3.950% | 1,055,000 | 1,061,459 | |
EQM Midstream Partners LP(a) | ||||
07/01/2025 | 6.000% | 157,000 | 171,413 | |
07/01/2027 | 6.500% | 417,000 | 460,163 | |
01/15/2029 | 4.500% | 315,000 | 312,874 | |
01/15/2031 | 4.750% | 400,000 | 396,217 | |
Galaxy Pipeline Assets Bidco Ltd.(a) | ||||
09/30/2040 | 3.250% | 950,000 | 927,327 | |
Holly Energy Partners LP/Finance Corp.(a) | ||||
02/01/2028 | 5.000% | 722,000 | 745,676 | |
Kinder Morgan, Inc. | ||||
02/15/2046 | 5.050% | 4,250,000 | 4,894,374 | |
MPLX LP | ||||
04/15/2048 | 4.700% | 2,850,000 | 3,127,065 | |
NuStar Logistics LP | ||||
10/01/2025 | 5.750% | 1,237,000 | 1,331,403 | |
06/01/2026 | 6.000% | 284,000 | 307,619 | |
04/28/2027 | 5.625% | 165,000 | 174,139 | |
10/01/2030 | 6.375% | 604,000 | 665,064 | |
Plains All American Pipeline LP/Finance Corp. | ||||
06/15/2044 | 4.700% | 9,075,000 | 8,734,238 | |
Rockpoint Gas Storage Canada Ltd.(a) | ||||
03/31/2023 | 7.000% | 184,000 | 186,394 | |
Sunoco LP/Finance Corp. | ||||
02/15/2026 | 5.500% | 1,219,000 | 1,257,078 | |
04/15/2027 | 6.000% | 239,000 | 251,069 | |
Superior Plus LP/General Partner, Inc.(a) | ||||
03/15/2029 | 4.500% | 337,000 | 344,120 | |
Targa Resources Partners LP/Finance Corp. | ||||
04/15/2026 | 5.875% | 371,000 | 388,529 | |
02/01/2027 | 5.375% | 376,000 | 391,526 | |
01/15/2028 | 5.000% | 577,000 | 607,300 | |
01/15/2029 | 6.875% | 43,000 | 48,206 | |
03/01/2030 | 5.500% | 1,091,000 | 1,180,720 | |
Targa Resources Partners LP/Finance Corp.(a) | ||||
02/01/2031 | 4.875% | 1,635,000 | 1,711,106 | |
01/15/2032 | 4.000% | 283,000 | 278,000 | |
TransMontaigne Partners LP/TLP Finance Corp. | ||||
02/15/2026 | 6.125% | 279,000 | 281,092 | |
Western Gas Partners LP | ||||
08/15/2048 | 5.500% | 2,583,000 | 2,657,128 | |
Williams Companies, Inc. (The) | ||||
09/15/2045 | 5.100% | 3,460,000 | 4,014,709 | |
Total | 40,584,795 |
22 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Natural Gas 0.5% | ||||
NiSource, Inc. | ||||
05/01/2030 | 3.600% | 3,435,000 | 3,753,456 | |
02/15/2043 | 5.250% | 535,000 | 675,557 | |
05/15/2047 | 4.375% | 6,799,000 | 7,857,015 | |
Sempra Energy | ||||
06/15/2027 | 3.250% | 302,000 | 327,653 | |
Total | 12,613,681 | |||
Oil Field Services 0.1% | ||||
Apergy Corp. | ||||
05/01/2026 | 6.375% | 237,000 | 248,405 | |
Archrock Partners LP/Finance Corp.(a) | ||||
04/01/2028 | 6.250% | 100,000 | 104,583 | |
Nabors Industries Ltd.(a) | ||||
01/15/2026 | 7.250% | 164,000 | 146,427 | |
Transocean Guardian Ltd.(a) | ||||
01/15/2024 | 5.875% | 60,176 | 56,399 | |
Transocean Pontus Ltd.(a) | ||||
08/01/2025 | 6.125% | 34,075 | 33,000 | |
Transocean Poseidon Ltd.(a) | ||||
02/01/2027 | 6.875% | 54,000 | 51,097 | |
Transocean Sentry Ltd.(a) | ||||
05/15/2023 | 5.375% | 608,098 | 578,577 | |
USA Compression Partners LP/Finance Corp. | ||||
04/01/2026 | 6.875% | 103,000 | 107,966 | |
Total | 1,326,454 | |||
Other Financial Institutions 0.0% | ||||
Icahn Enterprises LP/Finance Corp.(a) | ||||
05/15/2027 | 5.250% | 175,000 | 179,158 | |
Other Industry 0.0% | ||||
Dycom Industries, Inc.(a) | ||||
04/15/2029 | 4.500% | 420,000 | 426,955 | |
Hillenbrand, Inc. | ||||
03/01/2031 | 3.750% | 333,000 | 328,090 | |
Total | 755,045 | |||
Other REIT 0.1% | ||||
Hospitality Properties Trust | ||||
03/15/2024 | 4.650% | 219,000 | 221,862 | |
Ladder Capital Finance Holdings LLLP/Corp.(a) | ||||
03/15/2022 | 5.250% | 494,000 | 496,108 | |
10/01/2025 | 5.250% | 643,000 | 651,631 | |
02/01/2027 | 4.250% | 30,000 | 29,379 | |
Park Intermediate Holdings LLC/Domestic Property/Finance Co-Issuer(a) | ||||
10/01/2028 | 5.875% | 380,000 | 403,170 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
RHP Hotel Properties LP/Finance Corp.(a) | ||||
02/15/2029 | 4.500% | 232,000 | 230,054 | |
Service Properties Trust | ||||
10/01/2024 | 4.350% | 103,000 | 102,740 | |
12/15/2027 | 5.500% | 135,000 | 142,018 | |
Total | 2,276,962 | |||
Packaging 0.3% | ||||
Ardagh Metal Packaging Finance USA LLC/PLC(a) | ||||
09/01/2029 | 4.000% | 1,110,000 | 1,105,162 | |
Ardagh Packaging Finance PLC/Holdings USA, Inc.(a) | ||||
02/15/2025 | 6.000% | 501,000 | 516,699 | |
08/15/2026 | 4.125% | 1,492,000 | 1,534,744 | |
08/15/2027 | 5.250% | 383,000 | 391,591 | |
08/15/2027 | 5.250% | 303,000 | 309,229 | |
Berry Global, Inc.(a) | ||||
02/15/2026 | 4.500% | 500,000 | 512,061 | |
BWAY Holding Co.(a) | ||||
04/15/2024 | 5.500% | 296,000 | 296,995 | |
CANPACK SA/Eastern PA Land Investment Holding LLC(a) | ||||
11/01/2025 | 3.125% | 219,000 | 222,509 | |
Flex Acquisition Co., Inc.(a) | ||||
07/15/2026 | 7.875% | 550,000 | 575,166 | |
Novolex(a) | ||||
01/15/2025 | 6.875% | 28,000 | 28,462 | |
Trivium Packaging Finance BV(a) | ||||
08/15/2026 | 5.500% | 1,187,000 | 1,241,063 | |
08/15/2027 | 8.500% | 555,000 | 597,561 | |
Total | 7,331,242 | |||
Pharmaceuticals 0.7% | ||||
AbbVie, Inc. | ||||
06/15/2044 | 4.850% | 2,170,000 | 2,640,849 | |
11/21/2049 | 4.250% | 4,075,000 | 4,629,705 | |
Bausch Health Companies, Inc.(a) | ||||
04/15/2025 | 6.125% | 391,000 | 399,678 | |
11/01/2025 | 5.500% | 248,000 | 255,679 | |
04/01/2026 | 9.250% | 1,613,000 | 1,786,559 | |
01/31/2027 | 8.500% | 397,000 | 442,010 | |
08/15/2027 | 5.750% | 608,000 | 652,847 | |
01/30/2028 | 5.000% | 414,000 | 420,111 | |
02/15/2029 | 5.000% | 163,000 | 163,156 | |
02/15/2029 | 6.250% | 738,000 | 780,632 | |
01/30/2030 | 5.250% | 70,000 | 70,349 | |
02/15/2031 | 5.250% | 238,000 | 238,318 | |
Catalent Pharma Solutions, Inc.(a) | ||||
02/15/2029 | 3.125% | 158,000 | 153,228 | |
Endo Dac/Finance LLC/Finco, Inc.(a) | ||||
07/31/2027 | 9.500% | 253,000 | 268,172 | |
06/30/2028 | 6.000% | 326,000 | 249,184 |
Columbia Total Return Bond Fund | Annual Report 2021 | 23 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Endo Luxembourg Finance Co I Sarl/US, Inc.(a) | ||||
04/01/2029 | 6.125% | 518,000 | 512,819 | |
Jaguar Holding Co. II/PPD Development LP(a) | ||||
06/15/2025 | 4.625% | 1,492,000 | 1,568,843 | |
06/15/2028 | 5.000% | 166,000 | 181,093 | |
Jazz Securities DAC(a) | ||||
01/15/2029 | 4.375% | 328,000 | 335,341 | |
Organon Finance 1 LLC(a) | ||||
04/30/2028 | 4.125% | 1,339,000 | 1,373,362 | |
04/30/2031 | 5.125% | 998,000 | 1,035,443 | |
Par Pharmaceutical, Inc.(a) | ||||
04/01/2027 | 7.500% | 661,000 | 695,381 | |
Total | 18,852,759 | |||
Property & Casualty 0.2% | ||||
Alliant Holdings Intermediate LLC/Co-Issuer(a) | ||||
10/15/2027 | 4.250% | 673,000 | 680,421 | |
10/15/2027 | 6.750% | 618,000 | 650,163 | |
AssuredPartners, Inc.(a) | ||||
01/15/2029 | 5.625% | 375,000 | 380,029 | |
BroadStreet Partners, Inc.(a) | ||||
04/15/2029 | 5.875% | 648,000 | 658,048 | |
HUB International Ltd.(a) | ||||
05/01/2026 | 7.000% | 668,000 | 692,371 | |
MGIC Investment Corp. | ||||
08/15/2028 | 5.250% | 49,000 | 51,802 | |
Radian Group, Inc. | ||||
03/15/2025 | 6.625% | 908,000 | 1,027,175 | |
03/15/2027 | 4.875% | 339,000 | 360,878 | |
USI, Inc.(a) | ||||
05/01/2025 | 6.875% | 65,000 | 66,082 | |
Total | 4,566,969 | |||
Railroads 0.1% | ||||
Union Pacific Corp. | ||||
08/15/2059 | 3.950% | 985,000 | 1,077,362 | |
02/05/2070 | 3.750% | 1,215,000 | 1,255,556 | |
Total | 2,332,918 | |||
Restaurants 0.2% | ||||
1011778 BC ULC/New Red Finance, Inc.(a) | ||||
05/15/2024 | 4.250% | 110,000 | 111,468 | |
04/15/2025 | 5.750% | 1,123,000 | 1,191,958 | |
01/15/2028 | 3.875% | 61,000 | 61,722 | |
10/15/2030 | 4.000% | 299,000 | 291,735 | |
IRB Holding Corp.(a) | ||||
06/15/2025 | 7.000% | 1,508,000 | 1,624,792 | |
02/15/2026 | 6.750% | 887,000 | 918,520 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Yum! Brands, Inc.(a) | ||||
04/01/2025 | 7.750% | 1,070,000 | 1,169,194 | |
Yum! Brands, Inc. | ||||
03/15/2031 | 3.625% | 223,000 | 220,259 | |
Total | 5,589,648 | |||
Retailers 0.3% | ||||
Burlington Coat Factory Warehouse Corp.(a) | ||||
04/15/2025 | 6.250% | 23,000 | 24,481 | |
Group 1 Automotive, Inc.(a) | ||||
08/15/2028 | 4.000% | 102,000 | 101,847 | |
Hanesbrands, Inc.(a) | ||||
05/15/2025 | 5.375% | 1,364,000 | 1,434,786 | |
L Brands, Inc.(a) | ||||
07/01/2025 | 9.375% | 47,000 | 59,576 | |
10/01/2030 | 6.625% | 278,000 | 320,287 | |
L Brands, Inc. | ||||
06/15/2029 | 7.500% | 63,000 | 73,047 | |
11/01/2035 | 6.875% | 200,000 | 242,519 | |
LCM Investments Holdings II LLC(a) | ||||
05/01/2029 | 4.875% | 256,000 | 261,738 | |
Lowe’s Companies, Inc. | ||||
05/03/2047 | 4.050% | 3,340,000 | 3,707,292 | |
Macy’s Retail Holdings LLC(a) | ||||
04/01/2029 | 5.875% | 210,000 | 215,305 | |
Penske Automotive Group, Inc. | ||||
09/01/2025 | 3.500% | 36,000 | 36,901 | |
PetSmart, Inc./Finance Corp.(a) | ||||
02/15/2028 | 4.750% | 233,000 | 240,142 | |
02/15/2029 | 7.750% | 135,000 | 146,423 | |
Total | 6,864,344 | |||
Supermarkets 0.1% | ||||
Albertsons Companies LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 7.500% | 76,000 | 83,778 | |
02/15/2028 | 5.875% | 296,000 | 315,372 | |
Albertsons Companies, Inc./Safeway, Inc./New Albertsons LP/Albertsons LLC(a) | ||||
03/15/2026 | 3.250% | 1,250,000 | 1,247,295 | |
01/15/2027 | 4.625% | 688,000 | 715,300 | |
02/15/2030 | 4.875% | 581,000 | 605,111 | |
Total | 2,966,856 | |||
Technology 1.8% | ||||
Ascend Learning LLC(a) | ||||
08/01/2025 | 6.875% | 612,000 | 625,212 | |
08/01/2025 | 6.875% | 107,000 | 109,597 | |
Banff Merger Sub, Inc.(a) | ||||
09/01/2026 | 9.750% | 172,000 | 182,665 |
24 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Black Knight InfoServ LLC(a) | ||||
09/01/2028 | 3.625% | 269,000 | 264,357 | |
Boxer Parent Co., Inc.(a) | ||||
10/02/2025 | 7.125% | 94,000 | 101,069 | |
03/01/2026 | 9.125% | 28,000 | 29,640 | |
Broadcom Corp./Cayman Finance Ltd. | ||||
01/15/2027 | 3.875% | 4,365,000 | 4,782,434 | |
Broadcom, Inc. | ||||
11/15/2030 | 4.150% | 2,325,000 | 2,540,456 | |
Broadcom, Inc.(a) | ||||
04/15/2034 | 3.469% | 4,865,000 | 4,917,172 | |
Camelot Finance SA(a) | ||||
11/01/2026 | 4.500% | 189,000 | 196,447 | |
CDK Global, Inc. | ||||
06/01/2027 | 4.875% | 91,000 | 96,302 | |
CDK Global, Inc.(a) | ||||
05/15/2029 | 5.250% | 190,000 | 204,916 | |
CommScope Technologies LLC(a) | ||||
06/15/2025 | 6.000% | 204,000 | 207,647 | |
Gartner, Inc.(a) | ||||
07/01/2028 | 4.500% | 204,000 | 214,487 | |
10/01/2030 | 3.750% | 482,000 | 483,182 | |
Helios Software Holdings, Inc.(a) | ||||
05/01/2028 | 4.625% | 693,000 | 687,037 | |
Intel Corp. | ||||
05/11/2047 | 4.100% | 4,220,000 | 4,848,417 | |
Iron Mountain, Inc.(a) | ||||
07/15/2028 | 5.000% | 140,000 | 144,906 | |
09/15/2029 | 4.875% | 62,000 | 63,316 | |
07/15/2030 | 5.250% | 769,000 | 798,412 | |
Logan Merger Sub, Inc.(a) | ||||
09/01/2027 | 5.500% | 747,000 | 777,708 | |
Microchip Technology, Inc.(a) | ||||
09/01/2025 | 4.250% | 488,000 | 511,543 | |
NCR Corp.(a) | ||||
04/15/2025 | 8.125% | 178,000 | 194,822 | |
09/01/2027 | 5.750% | 91,000 | 96,202 | |
10/01/2028 | 5.000% | 512,000 | 528,359 | |
04/15/2029 | 5.125% | 883,000 | 910,492 | |
09/01/2029 | 6.125% | 274,000 | 298,337 | |
10/01/2030 | 5.250% | 203,000 | 210,212 | |
NXP BV/Funding LLC/USA, Inc.(a) | ||||
05/01/2030 | 3.400% | 1,090,000 | 1,164,429 | |
Oracle Corp. | ||||
04/01/2050 | 3.600% | 5,830,000 | 5,746,148 | |
03/25/2061 | 4.100% | 5,105,000 | 5,342,052 |
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Plantronics, Inc.(a) | ||||
05/31/2023 | 5.500% | 1,080,000 | 1,080,889 | |
03/01/2029 | 4.750% | 1,365,000 | 1,344,514 | |
PTC, Inc.(a) | ||||
02/15/2025 | 3.625% | 221,000 | 226,631 | |
QualityTech LP/QTS Finance Corp.(a) | ||||
10/01/2028 | 3.875% | 836,000 | 843,532 | |
Sabre GLBL, Inc.(a) | ||||
04/15/2025 | 9.250% | 108,000 | 129,438 | |
09/01/2025 | 7.375% | 148,000 | 161,066 | |
Shift4 Payments LLC/Finance Sub, Inc.(a) | ||||
11/01/2026 | 4.625% | 362,000 | 377,233 | |
Solera LLC/Finance, Inc.(a) | ||||
03/01/2024 | 10.500% | 193,000 | 198,852 | |
Switch Ltd.(a) | ||||
09/15/2028 | 3.750% | 100,000 | 99,369 | |
Tempo Acquisition LLC/Finance Corp.(a) | ||||
06/01/2025 | 5.750% | 285,000 | 301,655 | |
06/01/2025 | 6.750% | 292,000 | 297,348 | |
Tencent Holdings Ltd.(a) | ||||
06/03/2050 | 3.240% | 2,050,000 | 1,881,449 | |
Verscend Escrow Corp.(a) | ||||
08/15/2026 | 9.750% | 739,000 | 787,132 | |
ZoomInfo Technologies LLC/Finance Corp.(a) | ||||
02/01/2029 | 3.875% | 622,000 | 615,741 | |
Total | 45,622,824 | |||
Transportation Services 0.2% | ||||
Avis Budget Car Rental LLC/Finance, Inc.(a) | ||||
03/15/2025 | 5.250% | 102,000 | 103,870 | |
07/15/2027 | 5.750% | 100,000 | 105,814 | |
FedEx Corp. | ||||
04/01/2046 | 4.550% | 3,660,000 | 4,256,472 | |
Total | 4,466,156 | |||
Wireless 0.8% | ||||
Altice France Holding SA(a) | ||||
02/15/2028 | 6.000% | 831,000 | 823,769 | |
Altice France SA(a) | ||||
05/01/2026 | 7.375% | 1,506,000 | 1,564,325 | |
02/01/2027 | 8.125% | 127,000 | 139,316 | |
01/15/2028 | 5.500% | 1,233,000 | 1,269,897 | |
07/15/2029 | 5.125% | 446,000 | 447,843 | |
American Tower Corp. | ||||
08/15/2029 | 3.800% | 5,040,000 | 5,542,253 | |
SBA Communications Corp. | ||||
09/01/2024 | 4.875% | 431,000 | 441,274 | |
02/15/2027 | 3.875% | 557,000 | 570,085 |
Columbia Total Return Bond Fund | Annual Report 2021 | 25 |
April 30, 2021
Corporate Bonds & Notes (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
SBA Communications Corp.(a) | ||||
02/01/2029 | 3.125% | 708,000 | 678,409 | |
Sprint Capital Corp. | ||||
03/15/2032 | 8.750% | 310,000 | 459,409 | |
Sprint Corp. | ||||
06/15/2024 | 7.125% | 994,000 | 1,148,409 | |
02/15/2025 | 7.625% | 741,000 | 881,892 | |
03/01/2026 | 7.625% | 485,000 | 594,792 | |
T-Mobile USA, Inc. | ||||
02/15/2026 | 2.250% | 140,000 | 140,958 | |
02/01/2028 | 4.750% | 286,000 | 305,598 | |
02/15/2029 | 2.625% | 572,000 | 557,210 | |
02/15/2031 | 2.875% | 318,000 | 310,073 | |
04/15/2031 | 3.500% | 630,000 | 638,739 | |
T-Mobile USA, Inc.(a) | ||||
04/15/2030 | 3.875% | 880,000 | 960,284 | |
02/15/2041 | 3.000% | 2,350,000 | 2,202,701 | |
Vmed O2 UK Financing I PLC(a) | ||||
01/31/2031 | 4.250% | 399,000 | 390,225 | |
Total | 20,067,461 | |||
Wirelines 1.7% | ||||
AT&T, Inc.(a) | ||||
09/15/2055 | 3.550% | 9,596,000 | 8,842,805 | |
12/01/2057 | 3.800% | 8,632,000 | 8,239,982 | |
Cablevision Lightpath LLC(a) | ||||
09/15/2028 | 5.625% | 200,000 | 205,418 | |
CenturyLink, Inc. | ||||
03/15/2022 | 5.800% | 459,000 | 474,162 | |
12/01/2023 | 6.750% | 1,148,000 | 1,270,161 | |
04/01/2025 | 5.625% | 527,000 | 569,071 | |
CenturyLink, Inc.(a) | ||||
12/15/2026 | 5.125% | 329,000 | 344,956 | |
02/15/2027 | 4.000% | 338,000 | 343,882 | |
Front Range BidCo, Inc.(a) | ||||
03/01/2027 | 4.000% | 698,000 | 692,957 | |
03/01/2028 | 6.125% | 516,000 | 532,595 | |
Northwest Fiber LLC/Finance Sub, Inc.(a) | ||||
02/15/2028 | 6.000% | 240,000 | 240,187 | |
Telecom Italia Capital SA | ||||
09/30/2034 | 6.000% | 52,000 | 58,584 | |
Verizon Communications, Inc. | ||||
09/21/2028 | 4.329% | 3,825,000 | 4,409,395 | |
08/10/2033 | 4.500% | 10,107,000 | 11,903,039 | |
03/22/2061 | 3.700% | 6,270,000 | 6,346,228 | |
Total | 44,473,422 | |||
Total Corporate Bonds & Notes (Cost $671,244,281) | 672,209,997 | |||
Foreign Government Obligations(m),(n) 3.6% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Belarus 0.0% | ||||
Republic of Belarus International Bond(a) | ||||
02/28/2023 | 6.875% | 660,000 | 673,931 | |
Canada 0.0% | ||||
NOVA Chemicals Corp.(a) | ||||
05/01/2025 | 5.000% | 75,000 | 80,313 | |
06/01/2027 | 5.250% | 445,000 | 476,005 | |
NOVA Chemicals Corp.(a),(f) | ||||
05/15/2029 | 4.250% | 289,000 | 287,260 | |
Total | 843,578 | |||
Colombia 0.7% | ||||
Colombia Government International Bond | ||||
04/15/2031 | 3.125% | 8,520,000 | 8,340,400 | |
05/15/2049 | 5.200% | 4,442,000 | 4,852,880 | |
Ecopetrol SA | ||||
04/29/2030 | 6.875% | 4,400,000 | 5,338,993 | |
Total | 18,532,273 | |||
Dominican Republic 0.1% | ||||
Dominican Republic International Bond(a) | ||||
01/25/2027 | 5.950% | 785,000 | 894,976 | |
Egypt 0.1% | ||||
Egypt Government International Bond(a) | ||||
01/31/2047 | 8.500% | 1,015,000 | 1,047,494 | |
Honduras 0.1% | ||||
Honduras Government International Bond(a) | ||||
03/15/2024 | 7.500% | 1,710,000 | 1,861,439 | |
03/15/2024 | 7.500% | 971,000 | 1,056,993 | |
Total | 2,918,432 | |||
India 0.1% | ||||
Export-Import Bank of India(a) | ||||
01/15/2030 | 3.250% | 2,250,000 | 2,246,937 | |
Indonesia 0.4% | ||||
PT Indonesia Asahan Aluminium Persero(a) | ||||
05/15/2025 | 4.750% | 342,000 | 372,481 | |
05/15/2030 | 5.450% | 1,700,000 | 1,956,118 | |
PT Pertamina Persero(a) | ||||
05/30/2044 | 6.450% | 1,650,000 | 2,111,052 | |
01/21/2050 | 4.175% | 5,280,000 | 5,299,711 | |
Total | 9,739,362 | |||
Ivory Coast 0.2% | ||||
Ivory Coast Government International Bond(a) | ||||
10/17/2031 | 5.875% | EUR | 4,455,000 | 5,800,780 |
26 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Foreign Government Obligations(m),(n) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Mexico 1.0% | ||||
Petroleos Mexicanos | ||||
09/21/2047 | 6.750% | 10,471,000 | 9,243,761 | |
01/23/2050 | 7.690% | 6,500,000 | 6,258,056 | |
01/28/2060 | 6.950% | 11,185,000 | 9,894,255 | |
Total | 25,396,072 | |||
Qatar 0.1% | ||||
Qatar Government International Bond(a) | ||||
03/14/2049 | 4.817% | 2,400,000 | 2,955,832 | |
Romania 0.2% | ||||
Romanian Government International Bond(a) | ||||
05/26/2028 | 2.875% | EUR | 4,100,000 | 5,459,117 |
Russian Federation 0.1% | ||||
Gazprom OAO Via Gaz Capital SA(a) | ||||
02/06/2028 | 4.950% | 1,320,000 | 1,458,991 | |
Saudi Arabia 0.1% | ||||
Saudi Government International Bond(a) | ||||
04/17/2049 | 5.000% | 2,550,000 | 3,085,596 | |
Senegal 0.0% | ||||
Senegal Government International Bond(a) | ||||
05/23/2033 | 6.250% | 855,000 | 893,555 | |
South Africa 0.1% | ||||
Republic of South Africa Government International Bond | ||||
09/30/2029 | 4.850% | 2,300,000 | 2,377,651 | |
Turkey 0.1% | ||||
Turkey Government International Bond | ||||
02/17/2028 | 5.125% | 2,000,000 | 1,881,735 | |
Ukraine 0.0% | ||||
Ukraine Government International Bond(a) | ||||
09/25/2032 | 7.375% | 800,000 | 809,144 | |
United Arab Emirates 0.2% | ||||
Abu Dhabi National Energy Co. PJSC(a) | ||||
01/12/2023 | 3.625% | 971,000 | 1,020,335 | |
DP World PLC(a) | ||||
07/02/2037 | 6.850% | 1,280,000 | 1,703,878 | |
09/25/2048 | 5.625% | 1,100,000 | 1,336,324 | |
Total | 4,060,537 | |||
Total Foreign Government Obligations (Cost $90,025,410) | 91,075,993 | |||
Residential Mortgage-Backed Securities - Agency 19.3% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal Home Loan Mortgage Corp.(o) | ||||
12/01/2046 | 3.500% | 8,761,870 | 9,420,012 | |
Federal Home Loan Mortgage Corp.(b),(h) | ||||
CMO Series 3922 Class SH | ||||
-1.0 x 1-month USD LIBOR + 5.900% Cap 5.900% 09/15/2041 | 5.785% | 429,168 | 73,084 | |
CMO Series 4097 Class ST | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 08/15/2042 | 5.935% | 950,977 | 209,740 | |
CMO Series 4903 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 08/25/2049 | 5.944% | 17,698,743 | 3,670,459 | |
CMO Series 4979 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 06/25/2048 | 5.944% | 7,697,392 | 1,998,030 | |
CMO STRIPS Series 2012-278 Class S1 | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 09/15/2042 | 5.935% | 1,599,236 | 313,219 | |
CMO STRIPS Series 309 Class S4 | ||||
-1.0 x 1-month USD LIBOR + 5.970% Cap 5.970% 08/15/2043 | 5.855% | 673,608 | 140,472 | |
Federal Home Loan Mortgage Corp.(h) | ||||
CMO Series 4176 Class BI | ||||
03/15/2043 | 3.500% | 1,251,957 | 184,554 | |
CMO Series 4182 Class DI | ||||
05/15/2039 | 3.500% | 948,797 | 19,214 | |
Federal Home Loan Mortgage Corp.(g),(h) | ||||
CMO Series 4620 Class AS | ||||
11/15/2042 | 1.930% | 1,103,916 | 69,689 | |
Federal National Mortgage Association(b) | ||||
6-month USD LIBOR + 1.415% Floor 1.415%, Cap 11.040% 06/01/2032 | 1.665% | 2,850 | 2,862 | |
1-year CMT + 2.305% Floor 2.305%, Cap 10.430% 07/01/2037 | 2.680% | 52,628 | 52,360 |
Columbia Total Return Bond Fund | Annual Report 2021 | 27 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Federal National Mortgage Association | ||||
08/01/2034 | 5.500% | 56,155 | 65,155 | |
10/01/2040- 07/01/2041 | 4.500% | 3,039,149 | 3,422,740 | |
08/01/2043- 02/01/2048 | 4.000% | 17,239,357 | 18,917,291 | |
06/01/2045 | 3.500% | 1,705,427 | 1,838,305 | |
CMO Series 2017-72 Class B | ||||
09/25/2047 | 3.000% | 8,281,629 | 8,839,999 | |
Federal National Mortgage Association(h) | ||||
CMO Series 2012-118 Class BI | ||||
12/25/2039 | 3.500% | 777,390 | 22,391 | |
CMO Series 2020-76 Class EI | ||||
11/25/2050 | 2.500% | 15,880,455 | 2,399,149 | |
CMO Series 2021-3 Class TI | ||||
02/25/2051 | 2.500% | 40,642,323 | 7,230,818 | |
Federal National Mortgage Association(b),(h) | ||||
CMO Series 2013-101 Class CS | ||||
-1.0 x 1-month USD LIBOR + 5.900% Cap 5.900% 10/25/2043 | 5.794% | 3,237,305 | 651,445 | |
CMO Series 2014-93 Class ES | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 01/25/2045 | 6.044% | 1,923,674 | 380,872 | |
CMO Series 2016-31 Class VS | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 06/25/2046 | 5.894% | 1,444,409 | 323,921 | |
CMO Series 2016-53 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 08/25/2046 | 5.894% | 5,780,952 | 1,467,249 | |
CMO Series 2016-57 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 08/25/2046 | 5.894% | 13,707,906 | 3,348,042 | |
CMO Series 2017-109 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 01/25/2048 | 6.044% | 6,661,251 | 1,442,928 | |
CMO Series 2017-20 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.100% Cap 6.100% 04/25/2047 | 5.994% | 5,986,859 | 1,446,114 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2017-54 Class NS | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 07/25/2047 | 6.044% | 4,867,366 | 1,182,957 | |
CMO Series 2017-54 Class SN | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 07/25/2047 | 6.044% | 10,492,778 | 2,634,068 | |
CMO Series 2018-66 Class SM | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 09/25/2048 | 6.094% | 6,981,938 | 1,432,193 | |
CMO Series 2018-67 MS Class MS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 09/25/2048 | 6.094% | 6,195,410 | 1,099,805 | |
CMO Series 2018-74 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 10/25/2048 | 6.044% | 10,256,771 | 2,298,289 | |
CMO Series 2019-33 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 07/25/2049 | 5.944% | 26,630,284 | 5,297,956 | |
CMO Series 2019-60 Class SH | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 10/25/2049 | 5.944% | 15,558,593 | 3,747,037 | |
CMO Series 2019-67 Class SE | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 11/25/2049 | 5.944% | 13,524,716 | 3,122,774 | |
Government National Mortgage Association(b) | ||||
1-year CMT + 1.500% Floor 1.500%, Cap 11.500% 07/20/2025 | 2.250% | 6,356 | 6,551 | |
Government National Mortgage Association(o) | ||||
04/20/2048 | 4.500% | 8,883,756 | 9,669,317 | |
Government National Mortgage Association(h) | ||||
CMO Series 2014-184 Class CI | ||||
11/16/2041 | 3.500% | 4,670,990 | 467,197 | |
CMO Series 2020-175 Class KI | ||||
11/20/2050 | 2.500% | 29,609,957 | 4,474,109 |
28 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2020-191 Class UG | ||||
12/20/2050 | 3.500% | 21,627,050 | 3,495,344 | |
CMO Series 2021-16 Class KI | ||||
01/20/2051 | 2.500% | 25,845,096 | 3,978,666 | |
CMO Series 2021-9 Class MI | ||||
01/20/2051 | 2.500% | 24,772,781 | 3,360,017 | |
Government National Mortgage Association(b),(h) | ||||
CMO Series 2017-130 Class GS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2047 | 6.084% | 11,228,608 | 3,157,740 | |
CMO Series 2017-130 Class HS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2047 | 6.084% | 6,673,541 | 1,599,111 | |
CMO Series 2017-149 Class BS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 10/20/2047 | 6.084% | 9,776,462 | 2,097,052 | |
CMO Series 2017-163 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 11/20/2047 | 6.084% | 4,709,190 | 1,051,089 | |
CMO Series 2017-37 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 03/20/2047 | 6.034% | 6,179,390 | 1,354,881 | |
CMO Series 2018-103 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2048 | 6.084% | 6,481,364 | 1,162,017 | |
CMO Series 2018-112 Class LS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 08/20/2048 | 6.084% | 7,206,125 | 1,579,050 | |
CMO Series 2018-125 Class SK | ||||
-1.0 x 1-month USD LIBOR + 6.250% Cap 6.250% 09/20/2048 | 6.134% | 8,202,570 | 1,661,476 | |
CMO Series 2018-134 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 10/20/2048 | 6.084% | 6,884,463 | 1,368,111 |
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-139 Class SC | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 10/20/2048 | 6.034% | 5,403,522 | 972,428 | |
CMO Series 2018-148 Class SB | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 01/20/2048 | 6.084% | 15,497,842 | 3,198,522 | |
CMO Series 2018-151 Class SA | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 11/20/2048 | 6.034% | 13,115,015 | 2,533,254 | |
CMO Series 2018-89 Class MS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 06/20/2048 | 6.084% | 7,270,217 | 1,595,885 | |
CMO Series 2018-89 Class SM | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 06/20/2048 | 6.084% | 10,860,765 | 1,806,566 | |
CMO Series 2018-91 Class DS | ||||
-1.0 x 1-month USD LIBOR + 6.200% Cap 6.200% 07/20/2048 | 6.084% | 7,691,628 | 1,368,173 | |
CMO Series 2019-20 Class JS | ||||
-1.0 x 1-month USD LIBOR + 6.000% Cap 6.000% 02/20/2049 | 5.884% | 11,535,561 | 2,417,293 | |
CMO Series 2019-5 Class SH | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 01/20/2049 | 6.034% | 8,458,064 | 1,677,308 | |
CMO Series 2019-56 Class SG | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 05/20/2049 | 6.034% | 9,816,964 | 1,893,381 | |
CMO Series 2019-59 Class KS | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 05/20/2049 | 5.934% | 9,336,941 | 1,691,525 |
Columbia Total Return Bond Fund | Annual Report 2021 | 29 |
April 30, 2021
Residential Mortgage-Backed Securities - Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2019-85 Class SC | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 07/20/2049 | 6.034% | 8,714,208 | 1,574,844 | |
CMO Series 2019-90 Class SD | ||||
-1.0 x 1-month USD LIBOR + 6.150% 07/20/2049 | 6.034% | 13,574,670 | 2,565,229 | |
CMO Series 2020-21 Class VS | ||||
-1.0 x 1-month USD LIBOR + 6.050% Cap 6.050% 02/20/2050 | 5.934% | 7,684,569 | 1,087,987 | |
CMO Series 2020-62 Class SG | ||||
-1.0 x 1-month USD LIBOR + 6.150% Cap 6.150% 05/20/2050 | 6.034% | 11,974,336 | 2,038,770 | |
Government National Mortgage Association TBA(f) | ||||
05/20/2051 | 2.500% | 65,000,000 | 67,528,906 | |
Uniform Mortgage-Backed Security TBA(f) | ||||
05/18/2036- 05/13/2051 | 2.500% | 112,000,000 | 116,354,219 | |
05/18/2036- 05/13/2051 | 3.000% | 116,500,000 | 122,218,705 | |
05/13/2051 | 2.000% | 15,000,000 | 15,138,867 | |
05/13/2051 | 4.000% | 14,000,000 | 15,039,883 | |
Total Residential Mortgage-Backed Securities - Agency (Cost $473,052,054) | 491,948,666 | |||
Residential Mortgage-Backed Securities - Non-Agency 36.6% | ||||
American Mortgage Trust(c),(d),(g) | ||||
CMO Series 2093-3 Class 3A | ||||
07/27/2023 | 8.188% | 94 | 57 | |
Angel Oak Mortgage Trust I LLC(a),(g) | ||||
CMO Series 2018-3 Class M1 | ||||
09/25/2048 | 4.421% | 4,795,000 | 4,824,225 | |
Bayview Opportunity Master Fund IVa Trust(a),(g) | ||||
CMO Series 2020-RN2 Class A1 | ||||
06/28/2035 | 4.424% | 2,720,079 | 2,738,058 | |
Bayview Opportunity Master Fund Trust(a),(g) | ||||
CMO Series 2020-RN1 Class A1 | ||||
02/28/2035 | 3.228% | 1,597,991 | 1,601,417 | |
Bayview Opportunity Master Fund V Trust(a),(g) | ||||
CMO Series 2020-RN3 Class A1 | ||||
09/25/2035 | 3.105% | 3,328,956 | 3,338,740 | |
Bellemeade Re Ltd.(a),(b) | ||||
CMO Series 2017-1 Class M2 | ||||
1-month USD LIBOR + 3.350% 10/25/2027 | 3.456% | 2,878,794 | 2,886,223 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-2A Class M1C | ||||
1-month USD LIBOR + 1.600% 08/25/2028 | 1.706% | 1,084,287 | 1,084,281 | |
CMO Series 2019-1A Class M1A | ||||
1-month USD LIBOR + 1.300% Floor 1.300% 03/25/2029 | 1.406% | 493,473 | 493,535 | |
CMO Series 2019-1A Class M1B | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 03/25/2029 | 1.856% | 6,630,401 | 6,635,160 | |
CMO Series 2019-2A Class M1C | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 04/25/2029 | 2.106% | 5,250,000 | 5,280,448 | |
CMO Series 2019-2A Class M2 | ||||
1-month USD LIBOR + 3.100% Floor 3.100% 04/25/2029 | 3.206% | 1,500,000 | 1,515,134 | |
CMO Series 2019-3A Class M1A | ||||
1-month USD LIBOR + 1.100% Floor 1.100% 07/25/2029 | 1.206% | 785,003 | 785,043 | |
CMO Series 2019-3A Class M1B | ||||
1-month USD LIBOR + 1.600% Floor 1.600% 07/25/2029 | 1.706% | 12,700,000 | 12,753,810 | |
CMO Series 2019-4A Class M1C | ||||
1-month USD LIBOR + 2.500% Floor 2.500% 10/25/2029 | 2.606% | 3,727,000 | 3,734,213 | |
CMO Series 2020-2A Class M1B | ||||
1-month USD LIBOR + 3.200% Floor 3.200% 08/26/2030 | 3.306% | 6,380,000 | 6,449,021 | |
CMO Series 2020-3A Class M1B | ||||
1-month USD LIBOR + 2.850% Floor 2.850% 10/25/2030 | 2.956% | 3,000,000 | 3,021,710 | |
CMO Series 2020-3A Class M1C | ||||
1-month USD LIBOR + 3.700% Floor 3.700% 10/25/2030 | 3.806% | 6,900,000 | 7,156,647 | |
CMO Series 2020-4A Class M2A | ||||
1-month USD LIBOR + 2.600% Floor 2.600% 06/25/2030 | 2.706% | 5,000,000 | 5,026,461 | |
CMO Series 2021-1A Class M1B | ||||
30-day Average SOFR + 2.200% Floor 2.200% 03/25/2031 | 2.217% | 8,300,000 | 8,548,929 |
30 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BRAVO Residential Funding Trust(a),(g) | ||||
CMO Series 2019-NQM2 Class A3 | ||||
11/25/2059 | 3.108% | 886,621 | 902,358 | |
CMO Series 2019-NQM2 Class M1 | ||||
11/25/2059 | 3.451% | 1,700,000 | 1,667,159 | |
BVRT Financing Trust(a),(b),(d) | ||||
CMO Series 2020-CRT1 Class M3 | ||||
1-month USD LIBOR + 4.000% 07/10/2032 | 4.111% | 11,000,000 | 11,055,000 | |
CMO Series 2021-CRT2 Class M1 | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 11/10/2032 | 1.861% | 5,354,745 | 5,354,745 | |
CMO Series 2021-CRT3 Class B1 | ||||
30-day Average SOFR + 4.300% Floor 4.300% 01/10/2031 | 4.311% | 10,000,000 | 10,000,000 | |
CMO Series 2021-CRT3 Class M2 | ||||
30-day Average SOFR + 2.050% Floor 2.050% 01/10/2031 | 2.061% | 2,140,000 | 2,140,000 | |
CMO Series 2021-CRT3 Class M3 | ||||
30-day Average SOFR + 3.150% Floor 3.150% 01/10/2031 | 3.161% | 3,100,000 | 3,100,000 | |
BVRT Financing Trust(a),(b) | ||||
CMO Series 2021-1F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 03/15/2038 | 1.610% | 6,918,246 | 6,918,597 | |
BVRT Financing Trust(a),(b),(c),(d) | ||||
CMO Series 2021-2F Class M1 | ||||
30-day Average SOFR + 1.550% Floor 1.550% 01/10/2032 | 1.566% | 6,400,000 | 6,400,000 | |
CMO Series 2021-CRT1 Class M1 | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 01/10/2033 | 1.861% | 10,075,221 | 10,086,837 | |
CMO Series 2021-CRT1 Class M2 | ||||
1-month USD LIBOR + 2.250% Floor 2.250% 01/10/2033 | 2.361% | 12,700,000 | 12,714,643 | |
CMO Series 2021-CRT1 Class M3 | ||||
1-month USD LIBOR + 2.750% Floor 3.000% 01/10/2033 | 3.000% | 20,000,000 | 19,860,520 | |
CHL GMSR Issuer Trust(a),(b) | ||||
CMO Series 2018-GT1 Class A | ||||
1-month USD LIBOR + 1.000% 05/25/2023 | 2.856% | 6,600,000 | 6,582,575 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CIM Trust(a),(g) | ||||
CMO Series 2018-R4 Class A1 | ||||
12/26/2057 | 4.070% | 6,740,517 | 6,752,663 | |
CIM Trust(a),(b) | ||||
CMO Series 2018-R6 Class A1 | ||||
1-month USD LIBOR + 1.076% Floor 1.080% 09/25/2058 | 1.186% | 7,179,814 | 7,107,373 | |
Citigroup Mortgage Loan Trust, Inc.(a),(g) | ||||
CMO Series 2014-12 Class 3A1 | ||||
10/25/2035 | 2.810% | 512,706 | 512,858 | |
CMO Series 2014-C Class A | ||||
02/25/2054 | 3.250% | 76,695 | 76,664 | |
CMO Series 2015-A Class A4 | ||||
06/25/2058 | 4.250% | 261,150 | 264,937 | |
Citigroup Mortgage Loan Trust, Inc.(a) | ||||
Subordinated CMO Series 2014-C Class B1 | ||||
02/25/2054 | 4.250% | 8,500,000 | 8,682,897 | |
Connecticut Avenue Securities Trust(a),(b) | ||||
CMO Series 2019-HRP1 Class M2 | ||||
1-month USD LIBOR + 2.150% 11/25/2039 | 2.256% | 7,738,488 | 7,624,574 | |
CMO Series 2020-R01 Class 1M2 | ||||
1-month USD LIBOR + 2.050% Floor 2.050% 01/25/2040 | 2.156% | 9,471,071 | 9,532,367 | |
Credit Suisse Mortgage Trust(a),(g) | ||||
CMO Series 2021-NQM1 Class A3 | ||||
05/25/2065 | 1.199% | 4,415,989 | 4,404,614 | |
CSMC Ltd.(a) | ||||
Subordinated CMO Series 2020-BPL2 Class A1 | ||||
03/25/2026 | 3.453% | 1,983,355 | 1,980,947 | |
CSMC Trust(a),(g) | ||||
CMO Series 2020-RPL2 Class A12 | ||||
02/25/2060 | 3.460% | 18,790,699 | 19,092,783 | |
Subordinated CMO Series 2020-RPL3 Class A1 | ||||
03/25/2060 | 2.691% | 4,609,596 | 4,698,626 | |
Deephaven Residential Mortgage Trust(a),(g) | ||||
CMO Series 2017-2A Class M1 | ||||
06/25/2047 | 3.897% | 500,000 | 515,173 | |
CMO Series 2020-2 Class M1 | ||||
05/25/2065 | 4.112% | 7,190,000 | 7,506,698 | |
Eagle Re Ltd.(a),(b) | ||||
CMO Series 2018-1 Class M1 | ||||
1-month USD LIBOR + 1.700% Floor 1.700% 11/25/2028 | 1.806% | 1,376,515 | 1,382,933 | |
Subordinated CMO Series 2020-1 Class M1B | ||||
1-month USD LIBOR + 1.450% 01/25/2030 | 1.556% | 15,300,000 | 15,106,031 |
Columbia Total Return Bond Fund | Annual Report 2021 | 31 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Eagle RE Ltd.(a),(b) | ||||
CMO Series 2020-2 Class M1B | ||||
1-month USD LIBOR + 4.000% 10/25/2030 | 4.148% | 2,500,000 | 2,518,938 | |
CMO Series 2020-2 Class M1C | ||||
1-month USD LIBOR + 4.500% 10/25/2030 | 4.650% | 5,750,000 | 5,826,012 | |
Ellington Financial Mortgage Trust(a),(g) | ||||
CMO Series 2019-2 Class M1 | ||||
11/25/2059 | 3.469% | 2,500,000 | 2,558,794 | |
Fannie Mae Connecticut Avenue Securities(b) | ||||
CMO Series 2014-C03 Class 1M2 | ||||
1-month USD LIBOR + 3.000% Floor 3.000% 07/25/2024 | 3.106% | 15,041,859 | 15,145,729 | |
CMO Series 2018-C04 Class 2M2 | ||||
1-month USD LIBOR + 2.550% Floor 2.550% 12/25/2030 | 2.656% | 5,080,388 | 5,184,004 | |
Federal Home Loan Mortgage Corp. REMIC Trust(a),(b) | ||||
Subordinated CMO Series 2020-HQA3 Class B1 | ||||
1-month USD LIBOR + 5.750% 07/25/2050 | 5.856% | 7,625,000 | 8,134,622 | |
Federal Home Loan Mortgage Corp. STACR REMIC Trust(a),(b) | ||||
CMO Series 2020-HQA4 Class M2 | ||||
1-month USD LIBOR + 3.150% 09/25/2050 | 3.259% | 7,300,000 | 7,366,942 | |
FMC GMSR Issuer Trust(a),(g) | ||||
CMO Series 2019-GT1 Class A | ||||
05/25/2024 | 5.070% | 24,371,000 | 24,532,865 | |
CMO Series 2019-GT2 Class A | ||||
09/25/2024 | 4.230% | 4,836,000 | 4,834,458 | |
CMO Series 2020-GT1 Class A | ||||
01/25/2026 | 4.450% | 10,500,000 | 10,548,062 | |
Freddie Mac STACR REMIC Trust(a),(b) | ||||
CMO Series 2020-DNA4 Class M2 | ||||
1-month USD LIBOR + 3.750% Floor 3.750% 08/25/2050 | 3.856% | 9,446,384 | 9,574,858 | |
Freddie Mac Structured Agency Credit Risk Debt Notes(a),(b) | ||||
CMO Series 2020-DNA3 Class M2 | ||||
1-month USD LIBOR + 3.000% 06/25/2050 | 3.106% | 3,992,466 | 4,030,445 | |
CMO Series 2020-HQA5 Class M2 | ||||
30-day Average SOFR + 2.600% 11/25/2050 | 2.610% | 16,500,000 | 16,798,803 | |
Subordinated CMO Series 2020-HQA5 Class B1 | ||||
30-day Average SOFR + 4.000% 11/25/2050 | 4.010% | 8,500,000 | 8,825,906 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
GCAT LLC(a),(c),(d),(g) | ||||
CMO Series 2021-CM1 Class A1 | ||||
04/25/2065 | 1.469% | 25,000,000 | 24,999,870 | |
Genworth Mortgage Insurance Corp.(a),(b) | ||||
CMO Series 2019-1 Class M1 | ||||
1-month USD LIBOR + 1.900% Floor 1.900% 11/26/2029 | 2.006% | 6,164,933 | 6,164,954 | |
Glebe Funding Trust (The)(a) | ||||
CMO Series 2021-1 Class PT | ||||
10/27/2023 | 3.000% | 26,750,000 | 26,750,000 | |
Home RE Ltd.(a),(b) | ||||
CMO Series 2020-1 Class M1C | ||||
1-month USD LIBOR + 4.150% Floor 4.150% 10/25/2030 | 4.294% | 11,550,000 | 11,930,433 | |
Homeward Opportunities Fund Trust(a),(g) | ||||
CMO Series 2020-BPL1 Class A1 | ||||
08/25/2025 | 3.228% | 8,700,000 | 8,750,143 | |
Legacy Mortgage Asset Trust(a) | ||||
CMO Series 2019-GS1 Class A1 | ||||
01/25/2059 | 4.000% | 3,276,757 | 3,282,105 | |
Legacy Mortgage Asset Trust(a),(g) | ||||
CMO Series 2021-GS1 Class A1 | ||||
10/25/2066 | 1.892% | 7,042,799 | 7,033,091 | |
CMO Series 2021-GS2 Class A1 | ||||
04/25/2061 | 1.750% | 6,000,000 | 5,997,574 | |
LVII Resecuritization Trust(a),(g) | ||||
Subordinated CMO Series 2009-3 Class B3 | ||||
11/25/2037 | 5.129% | 2,518,085 | 2,518,940 | |
MFA Trust(a),(g) | ||||
CMO Series 2020-NQM1 Class M1 | ||||
08/25/2049 | 3.071% | 2,800,000 | 2,870,892 | |
Mortgage Insurance-Linked Notes(a),(b) | ||||
CMO Series 2020-1 Class M1C | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 02/25/2030 | 1.856% | 2,387,788 | 2,332,052 | |
New Residential Mortgage LLC(a) | ||||
Subordinated CMO Series 2018-FNT1 Class D | ||||
05/25/2023 | 4.690% | 4,839,288 | 4,839,460 | |
Subordinated CMO Series 2018-FNT1 Class E | ||||
05/25/2023 | 4.890% | 1,935,715 | 1,935,009 | |
New Residential Mortgage Loan Trust(a),(g) | ||||
CMO Series 2020-NPL2 Class A1 | ||||
08/25/2060 | 3.228% | 3,358,979 | 3,386,217 | |
CMO Series 2020-RPL2 Class A1 | ||||
08/25/2025 | 3.578% | 17,763,716 | 18,101,712 |
32 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NRZ Excess Spread-Collateralized Notes(a) | ||||
Series 2020-PLS1 Class A | ||||
12/25/2025 | 3.844% | 5,306,566 | 5,363,902 | |
Oaktown Re II Ltd.(a),(b) | ||||
CMO Series 2018-1A Class M1 | ||||
1-month USD LIBOR + 1.550% 07/25/2028 | 1.656% | 1,032,766 | 1,033,195 | |
Oaktown Re III Ltd.(a),(b) | ||||
CMO Series 2019-1A Class M1A | ||||
1-month USD LIBOR + 1.400% Floor 1.400% 07/25/2029 | 1.506% | 116,746 | 116,778 | |
CMO Series 2019-1A Class M1B | ||||
1-month USD LIBOR + 1.950% Floor 1.950% 07/25/2029 | 2.056% | 5,000,000 | 5,021,401 | |
Oaktown Re Ltd.(a),(b) | ||||
Subordinated CMO Series 2017-1A Class M2 | ||||
1-month USD LIBOR + 4.000% 04/25/2027 | 4.106% | 530,105 | 531,646 | |
Oaktown Re V Ltd.(a),(b) | ||||
CMO Series 2020-2A Class M1B | ||||
1-month USD LIBOR + 3.600% Floor 3.600% 10/25/2030 | 3.706% | 8,600,000 | 8,663,002 | |
Oaktown Re VI Ltd.(a),(b) | ||||
CMO Series 2021-1A Class M1B | ||||
30-day Average SOFR + 2.050% Floor 2.050% 10/25/2033 | 2.060% | 4,000,000 | 4,033,572 | |
OMSR(a) | ||||
CMO Series 2019-PLS1 Class A | ||||
11/25/2024 | 5.069% | 3,801,628 | 3,819,497 | |
OSAT Trust(a),(g) | ||||
CMO Series 2020-RPL1 Class A1 | ||||
12/26/2059 | 3.072% | 6,576,529 | 6,619,635 | |
PMT Credit Risk Transfer Trust(a),(b) | ||||
CMO Series 2019-1R Class A | ||||
1-month USD LIBOR + 2.000% Floor 2.000% 03/27/2024 | 2.109% | 4,894,874 | 4,741,090 | |
Series 2019-2R Class A | ||||
1-month USD LIBOR + 2.750% Floor 2.750% 05/27/2023 | 2.861% | 5,073,839 | 4,936,162 | |
PNMAC GMSR Issuer Trust(a),(b) | ||||
CMO Series 2018-GT1 Class A | ||||
1-month USD LIBOR + 2.850% Floor 2.850% 02/25/2023 | 2.956% | 26,000,000 | 25,970,227 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
CMO Series 2018-GT2 Class A | ||||
1-month USD LIBOR + 2.650% 08/25/2025 | 2.756% | 38,450,000 | 38,265,136 | |
Preston Ridge Partners LLC(a),(g) | ||||
CMO Series 2020-5 Class A1 | ||||
11/25/2025 | 3.104% | 3,093,972 | 3,103,242 | |
Preston Ridge Partners Mortgage(a),(g) | ||||
CMO Series 2021-2 Class A1 | ||||
01/25/2026 | 2.115% | 7,640,074 | 7,630,052 | |
Preston Ridge Partners Mortgage LLC(a),(f),(g) | ||||
CMO Series 2021-3 Class A1 | ||||
04/25/2026 | 1.867% | 20,000,000 | 19,999,730 | |
Preston Ridge Partners Mortgage Trust(a),(g) | ||||
CMO Series 2021-1 Class A1 | ||||
01/25/2026 | 2.115% | 16,655,963 | 16,646,574 | |
Pretium Mortgage Credit Partners I LLC(a),(g) | ||||
CMO Series 2020-NPL2 Class A1 | ||||
02/27/2060 | 3.721% | 3,835,794 | 3,839,060 | |
CMO Series 2020-RPL1 Class A1 | ||||
05/27/2060 | 3.819% | 3,324,961 | 3,419,064 | |
CMO Series 2020-RPL2 Class A1 | ||||
06/27/2069 | 3.179% | 7,276,004 | 7,406,403 | |
PRPM LLC(a),(g) | ||||
CMO Series 2020-1A Class A1 | ||||
02/25/2025 | 2.981% | 22,282,752 | 22,489,372 | |
CMO Series 2020-2 Class A1 | ||||
08/25/2025 | 3.671% | 9,005,017 | 9,069,387 | |
Radnor Re Ltd.(a),(b) | ||||
CMO Series 2019-2 Class M1B | ||||
1-month USD LIBOR + 1.750% Floor 1.750% 06/25/2029 | 1.856% | 12,000,000 | 12,017,232 | |
CMO Series 2020-1 Class M1B | ||||
1-month USD LIBOR + 1.450% Floor 1.450% 02/25/2030 | 1.556% | 12,340,000 | 12,233,925 | |
RCO V Mortgage LLC(a),(g) | ||||
CMO Series 2019-2 Class A1 | ||||
11/25/2024 | 3.475% | 12,194,606 | 12,217,704 | |
Residential Mortgage Loan Trust(a),(g) | ||||
CMO Series 2019-3 Class A3 | ||||
09/25/2059 | 3.044% | 1,078,830 | 1,098,364 | |
Saluda Grade Alternative Mortgage Trust(a) | ||||
CMO Series 2020-FIG1 Class A1 | ||||
09/25/2050 | 3.568% | 3,890,441 | 3,968,587 | |
SG Residential Mortgage Trust(a),(g) | ||||
CMO Series 2019-3 Class M1 | ||||
09/25/2059 | 3.526% | 3,801,000 | 3,868,142 |
Columbia Total Return Bond Fund | Annual Report 2021 | 33 |
April 30, 2021
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
STACR Trust(a),(b) | ||||
CMO Series 2018-DNA3 Class M2 | ||||
1-month USD LIBOR + 2.100% 09/25/2048 | 2.206% | 7,350,000 | 7,436,435 | |
Station Place Securitization Trust(a),(b) | ||||
Subordinated CMO Series 2021-WL1 Class B | ||||
1-month USD LIBOR + 0.850% Floor 0.850% 01/26/2054 | 0.979% | 6,800,000 | 6,801,477 | |
Subordinated CMO Series 2021-WL1 Class C | ||||
1-month USD LIBOR + 1.050% Floor 1.050% 01/26/2054 | 1.179% | 4,300,000 | 4,300,932 | |
Stonnington Mortgage Trust(a),(c),(d),(g) | ||||
CMO Series 2020-1 Class A | ||||
07/28/2024 | 5.500% | 7,821,297 | 7,821,297 | |
Toorak Mortgage Corp., Ltd.(a),(g) | ||||
CMO Series 2018-1 Class A1 | ||||
08/25/2021 | 4.336% | 4,237,406 | 4,237,406 | |
Toorak Mortgage Corp., Ltd.(g) | ||||
CMO Series 2019-2 Class A1 | ||||
09/25/2022 | 3.721% | 5,400,000 | 5,431,797 | |
Triangle Re Ltd.(a),(b) | ||||
CMO Series 2020-1 Class M1B | ||||
1-month USD LIBOR + 3.900% Floor 3.900% 10/25/2030 | 4.018% | 9,225,000 | 9,319,191 | |
CMO Series 2021-1 Class M1B | ||||
1-month USD LIBOR + 3.000% Floor 3.000% 08/25/2033 | 3.107% | 12,500,000 | 12,514,538 | |
CMO Series 2021-1 Class M1C | ||||
1-month USD LIBOR + 3.400% Floor 3.400% 08/25/2033 | 3.507% | 7,250,000 | 7,261,707 | |
CMO Series 2021-2 Class M1B | ||||
1-month USD LIBOR + 2.600% Floor 2.600% 10/25/2033 | 2.710% | 8,800,000 | 8,866,689 | |
CMO Series 2021-2 Class M1C | ||||
1-month USD LIBOR + 4.500% Floor 4.500% 10/25/2033 | 4.610% | 4,800,000 | 4,861,192 | |
Vericrest Opportunity Loan Transferee(a),(g) | ||||
CMO Series 2021-NPL7 Class A1 | ||||
04/25/2051 | 2.116% | 11,808,468 | 11,809,307 | |
Vericrest Opportunity Loan Transferee XCIX LLC(a),(g) | ||||
CMO Series 2021-NPL8 Class A1 | ||||
04/25/2051 | 2.116% | 8,304,437 | 8,302,178 |
Residential Mortgage-Backed Securities - Non-Agency (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Vericrest Opportunity Loan Transferee XCVI LLC(a),(g) | ||||
CMO Series 2021-NPL5 Class A1 | ||||
03/27/2051 | 2.116% | 10,741,786 | 10,734,287 | |
Vericrest Opportunity Loan Trust(a),(g) | ||||
CMO Series 2020-NPL6 Class A1B | ||||
04/25/2050 | 4.949% | 5,800,000 | 5,800,517 | |
Verus Securitization Trust(a),(g) | ||||
CMO Series 2020-4 Class M1 | ||||
06/25/2065 | 3.291% | 4,000,000 | 4,152,001 | |
CMO Series 2020-NPL1 Class A1 | ||||
08/25/2050 | 3.598% | 8,077,930 | 8,114,843 | |
CMO Series 2021-R1 Class A1 | ||||
10/25/2063 | 0.820% | 6,910,735 | 6,884,991 | |
Visio Trust(a),(g) | ||||
CMO Series 2019-2 Class A3 | ||||
11/25/2054 | 3.076% | 2,714,020 | 2,773,587 | |
Visio Trust(a),(p) | ||||
CMO Series 2021-1R Class A1 | ||||
05/25/2056 | 1.280% | 15,000,000 | 14,999,924 | |
CMO Series 2021-1R Class A2 | ||||
05/25/2056 | 1.484% | 4,750,000 | 4,749,933 | |
Total Residential Mortgage-Backed Securities - Non-Agency (Cost $915,688,237) | 931,966,884 | |||
Senior Loans 0.0% | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Consumer Cyclical Services 0.0% | ||||
8th Avenue Food & Provisions, Inc.(b),(q) | ||||
1st Lien Term Loan | ||||
1-month USD LIBOR + 3.500% 10/01/2025 | 3.608% | 119,718 | 119,469 | |
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.750% 10/01/2026 | 7.858% | 32,969 | 32,639 | |
Total | 152,108 | |||
Food and Beverage 0.0% | ||||
BellRing Brands LLC(b),(q) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% Floor 0.750% 10/21/2024 | 4.750% | 89,636 | 90,196 | |
Froneri International Ltd.(b),(q) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 5.750% 01/31/2028 | 5.863% | 25,000 | 25,203 | |
Total | 115,399 |
34 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Senior Loans (continued) | ||||
Borrower | Coupon Rate | Principal Amount ($) | Value ($) | |
Technology 0.0% | ||||
Ascend Learning LLC(b),(q) | ||||
Term Loan | ||||
1-month USD LIBOR + 3.000% Floor 1.000% 07/12/2024 | 4.000% | 57,602 | 57,435 | |
DCert Buyer, Inc.(b),(q) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.000% 02/19/2029 | 7.113% | 404,000 | 405,515 | |
Epicore Software Corp.(b),(q) | ||||
2nd Lien Term Loan | ||||
1-month USD LIBOR + 7.750% Floor 1.000% 07/31/2028 | 8.750% | 106,000 | 108,650 | |
Project Alpha Intermediate Holding, Inc.(b),(q) | ||||
Term Loan | ||||
1-month USD LIBOR + 4.000% 04/26/2024 | 4.120% | 97,468 | 97,102 | |
Total | 668,702 | |||
Total Senior Loans (Cost $929,158) | 936,209 | |||
U.S. Treasury Obligations 0.5% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
U.S. Treasury | ||||
08/15/2027 | 2.250% | 6,872,500 | 7,328,877 | |
08/15/2048 | 3.000% | 4,590,000 | 5,266,308 | |
Total U.S. Treasury Obligations (Cost $11,354,670) | 12,595,185 |
Options Purchased Puts 0.9% | ||||
Value ($) | ||||
(Cost $5,859,000) | 22,766,786 |
Money Market Funds 6.6% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.054%(r),(s) | 167,917,706 | 167,900,915 |
Total Money Market Funds (Cost $167,883,618) | 167,900,915 | |
Total Investments in Securities (Cost: $2,991,579,036) | 3,051,495,309 | |
Other Assets & Liabilities, Net | (506,888,306) | |
Net Assets | 2,544,607,003 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
9,790,000 EUR | 11,720,245 USD | UBS | 05/21/2021 | — | (53,832) |
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
U.S. Treasury 10-Year Note | 5,799 | 06/2021 | USD | 765,649,219 | — | (7,217,293) |
U.S. Treasury 2-Year Note | 501 | 06/2021 | USD | 110,599,664 | — | (96,872) |
U.S. Treasury 5-Year Note | 844 | 06/2021 | USD | 104,603,250 | — | (878,699) |
U.S. Ultra Treasury Bond | 301 | 06/2021 | USD | 55,957,781 | — | (1,804,517) |
Total | — | (9,997,381) |
Columbia Total Return Bond Fund | Annual Report 2021 | 35 |
April 30, 2021
Put option contracts purchased | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Cost ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive 3-Month USD LIBOR BBA and pay exercise rate | Citi | USD | 140,000,000 | 140,000,000 | 1.00 | 09/30/2021 | 2,436,000 | 9,831,206 |
10-Year OTC interest rate swap with Citi to receive 3-Month USD LIBOR BBA and pay exercise rate | Citi | USD | 150,000,000 | 150,000,000 | 1.25 | 12/03/2021 | 2,325,000 | 8,150,595 |
10-Year OTC interest rate swap with Morgan Stanley to receive 3-Month USD LIBOR BBA and pay exercise rate | Morgan Stanley | USD | 90,000,000 | 90,000,000 | 1.25 | 11/18/2021 | 1,098,000 | 4,784,985 |
Total | 5,859,000 | 22,766,786 |
Call option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
10-Year OTC interest rate swap with Morgan Stanley to receive 3-Month USD LIBOR BBA and pay exercise rate | Morgan Stanley | USD | (90,000,000) | (90,000,000) | 1.70 | 10/01/2021 | (1,244,250) | (1,533,618) |
Put option contracts written | ||||||||
Description | Counterparty | Trading currency | Notional amount | Number of contracts | Exercise price/Rate | Expiration date | Premium received ($) | Value ($) |
10-Year OTC interest rate swap with Citi to receive exercise rate and pay 3-Month USD LIBOR BBA | Citi | USD | (120,000,000) | (120,000,000) | 2.20 | 03/17/2022 | (2,244,000) | (1,707,192) |
Cleared interest rate swap contracts | |||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Fixed rate of 2.372% | U.S. CPI Urban Consumers NSA | Receives at Maturity, Pays at Maturity | Morgan Stanley | 02/17/2031 | USD | 103,800,000 | (2,621,903) | — | — | — | (2,621,903) |
3-Month USD LIBOR | Fixed rate of 1.635% | Receives Quarterly, Pays SemiAnnually | Morgan Stanley | 03/18/2031 | USD | 67,000,000 | (56,359) | — | — | — | (56,359) |
Total | (2,678,262) | — | — | — | (2,678,262) |
Credit default swap contracts - buy protection | ||||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | USD | 8,000,000 | 906,249 | (4,000) | 340,428 | — | 561,821 | — |
Markit CMBX North America Index, Series 11 BBB- | JPMorgan | 11/18/2054 | 3.000 | Monthly | USD | 1,700,000 | 87,125 | (850) | 60,790 | — | 25,485 | — |
Markit CMBX North America Index, Series 11 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | USD | 1,000,000 | 113,281 | (500) | 60,872 | — | 51,909 | — |
Total | 1,106,655 | (5,350) | 462,090 | — | 639,215 | — |
Cleared credit default swap contracts - buy protection | |||||||||||
Reference entity | Counterparty | Maturity date | Pay fixed rate (%) | Payment frequency | Notional currency | Notional amount | Value ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CDX North America High Yield Index, Series 36 | Morgan Stanley | 06/20/2026 | 5.000 | Quarterly | USD | 176,655,000 | (3,172,743) | — | — | — | (3,172,743) |
36 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Credit default swap contracts - sell protection | |||||||||||||
Reference entity | Counterparty | Maturity date | Receive fixed rate (%) | Payment frequency | Implied credit spread (%)* | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Markit CMBX North America Index, Series 10 BBB- | Citi | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 4,000,000 | (453,124) | 2,000 | — | (912,182) | 461,058 | — |
Markit CMBX North America Index, Series 10 BBB- | Citi | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 3,500,000 | (396,484) | 1,750 | — | (747,804) | 353,070 | — |
Markit CMBX North America Index, Series 10 BBB- | Citi | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 7,000,000 | (792,969) | 3,500 | — | (875,846) | 86,377 | — |
Markit CMBX North America Index, Series 10 BBB- | Citi | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 5,000,000 | (566,406) | 2,500 | — | (622,585) | 58,679 | — |
Markit CMBX North America Index, Series 11 BBB- | Citi | 11/18/2054 | 3.000 | Monthly | 3.925 | USD | 4,700,000 | (240,875) | 2,350 | — | (248,865) | 10,340 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 9,200,000 | (1,042,187) | 4,600 | — | (1,779,786) | 742,199 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 12,000,000 | (1,359,374) | 6,000 | — | (1,956,186) | 602,812 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 5,000,000 | (566,406) | 2,500 | — | (1,129,174) | 565,268 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 5,000,000 | (566,406) | 2,500 | — | (874,697) | 310,791 | — |
Markit CMBX North America Index, Series 10 BBB- | JPMorgan | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 5,000,000 | (566,406) | 2,500 | — | (842,280) | 278,374 | — |
Markit CMBX North America Index, Series 11 BBB- | JPMorgan | 11/18/2054 | 3.000 | Monthly | 3.925 | USD | 3,000,000 | (153,750) | 1,500 | — | (459,908) | 307,658 | — |
Markit CMBX North America Index, Series 10 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 7,000,000 | (792,968) | 3,500 | — | (1,576,298) | 786,830 | — |
Markit CMBX North America Index, Series 10 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 5,000,000 | (566,406) | 2,500 | — | (1,021,937) | 458,031 | — |
Markit CMBX North America Index, Series 10 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 7,000,000 | (792,969) | 3,500 | — | (1,179,192) | 389,723 | — |
Markit CMBX North America Index, Series 10 BBB- | Morgan Stanley | 11/17/2059 | 3.000 | Monthly | 5.435 | USD | 3,000,000 | (339,844) | 1,500 | — | (595,033) | 256,689 | — |
Markit CMBX North America Index, Series 11 BBB- | Morgan Stanley | 11/18/2054 | 3.000 | Monthly | 3.925 | USD | 3,500,000 | (179,375) | 1,750 | — | (529,826) | 352,201 | — |
Markit CMBX North America Index, Series 12 BBB- | Morgan Stanley | 08/17/2061 | 3.000 | Monthly | 3.927 | USD | 3,500,000 | (199,063) | 1,750 | — | (540,509) | 343,196 | — |
Total | (9,575,012) | 46,200 | — | (15,892,108) | 6,363,296 | — |
Columbia Total Return Bond Fund | Annual Report 2021 | 37 |
April 30, 2021
* | 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. |
Reference index and values for swap contracts as of period end | ||
Reference index | Reference rate | |
3-Month USD LIBOR | London Interbank Offered Rate | 0.176% |
U.S. CPI Urban Consumers NSA | United States Consumer Price All Urban Non-Seasonally Adjusted Index | 4.160% |
(a) | Represents privately placed and other securities and instruments exempt from Securities and Exchange Commission registration (collectively, private placements), such as Section 4(a)(2) and Rule 144A eligible securities, which are often sold only to qualified institutional buyers. At April 30, 2021, the total value of these securities amounted to $1,845,753,120, which represents 72.54% of total net assets. |
(b) | Variable rate security. The interest rate shown was the current rate as of April 30, 2021. |
(c) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2021, the total value of these securities amounted to $83,496,793, which represents 3.28% of total net assets. |
(d) | Valuation based on significant unobservable inputs. |
(e) | Zero coupon bond. |
(f) | Represents a security purchased on a when-issued basis. |
(g) | Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. The interest rate shown was the current rate as of April 30, 2021. |
(h) | Represents interest only securities which have the right to receive the monthly interest payments on an underlying pool of mortgage loans. |
(i) | Non-income producing investment. |
(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 April 30, 2021. |
(k) | Payment-in-kind security. Interest can be paid by issuing additional par of the security or in cash. |
(l) | Represents securities that have defaulted on payment of interest. The Fund has stopped accruing interest on these securities. At April 30, 2021, the total value of these securities amounted to $41,069, which represents less than 0.01% of total net assets. |
(m) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(n) | Principal and interest may not be guaranteed by a governmental entity. |
(o) | This security or a portion of this security has been pledged as collateral in connection with derivative contracts. |
(p) | Represents a security purchased on a forward commitment basis. |
(q) | The stated interest rate represents the weighted average interest rate at April 30, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily determined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. These base lending rates are primarily the LIBOR and other short-term rates. Base lending rates may be subject to a floor or minimum rate. The interest rate for senior loans purchased on a when-issued or delayed delivery basis will be determined upon settlement, therefore no interest rate is disclosed. Senior loans often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, cannot be predicted with accuracy. As a result, remaining maturities of senior loans may be less than the stated maturities. Generally, the Fund is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan. |
(r) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
(s) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the year ended April 30, 2021 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 0.054% | ||||||||
153,141,394 | 1,200,605,111 | (1,185,800,262) | (45,328) | 167,900,915 | 12,958 | 172,045 | 167,917,706 |
38 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
CMO | Collateralized Mortgage Obligation |
CMT | Constant Maturity Treasury |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
STRIPS | Separate Trading of Registered Interest and Principal Securities |
TBA | To Be Announced |
EUR | Euro |
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 | ||||
Asset-Backed Securities — Non-Agency | — | 384,529,769 | 9,110,923 | 393,640,692 |
Commercial Mortgage-Backed Securities - Agency | — | 11,048,705 | — | 11,048,705 |
Commercial Mortgage-Backed Securities - Non-Agency | — | 253,249,323 | — | 253,249,323 |
Common Stocks | ||||
Financials | 155,781 | — | — | 155,781 |
Industrials | 81,219 | — | — | 81,219 |
Total Common Stocks | 237,000 | — | — | 237,000 |
Columbia Total Return Bond Fund | Annual Report 2021 | 39 |
April 30, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Convertible Bonds | — | 1,918,954 | — | 1,918,954 |
Corporate Bonds & Notes | — | 672,168,928 | 41,069 | 672,209,997 |
Foreign Government Obligations | — | 91,075,993 | — | 91,075,993 |
Residential Mortgage-Backed Securities - Agency | — | 491,948,666 | — | 491,948,666 |
Residential Mortgage-Backed Securities - Non-Agency | — | 818,433,915 | 113,532,969 | 931,966,884 |
Senior Loans | — | 936,209 | — | 936,209 |
U.S. Treasury Obligations | 12,595,185 | — | — | 12,595,185 |
Options Purchased Puts | — | 22,766,786 | — | 22,766,786 |
Money Market Funds | 167,900,915 | — | — | 167,900,915 |
Total Investments in Securities | 180,733,100 | 2,748,077,248 | 122,684,961 | 3,051,495,309 |
Investments in Derivatives | ||||
Asset | ||||
Swap Contracts | — | 7,002,511 | — | 7,002,511 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (53,832) | — | (53,832) |
Futures Contracts | (9,997,381) | — | — | (9,997,381) |
Options Contracts Written | — | (3,240,810) | — | (3,240,810) |
Swap Contracts | — | (5,851,005) | — | (5,851,005) |
Total | 170,735,719 | 2,745,934,112 | 122,684,961 | 3,039,354,792 |
Balance as of 04/30/2020 ($) | Increase (decrease) in accrued discounts/ premiums ($) | Realized gain (loss) ($) | Change in unrealized appreciation (depreciation)(a) ($) | Purchases ($) | Sales ($) | Transfers into Level 3 ($) | Transfers out of Level 3 ($) | Balance as of 04/30/2021 ($) | |
Asset-Backed Securities — Non-Agency | 14,011,675 | (998,659) | (4,013,500) | 5,345,705 | 15,790,444 | (21,024,742) | — | — | 9,110,923 |
Common Stocks | — | — | — | — | — | — | — | — | — |
Corporate Bonds & Notes | 41,069 | — | — | — | — | — | — | — | 41,069 |
Residential Mortgage-Backed Securities — Non-Agency | 16,363,730 | 92,940 | — | (15,258) | 120,724,987 | (8,496,989) | — | (15,136,441) | 113,532,969 |
Total | 30,416,474 | (905,719) | (4,013,500) | 5,330,447 | 136,515,431 | (29,521,731) | — | (15,136,441) | 122,684,961 |
40 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $2,817,836,418) | $2,860,827,608 |
Affiliated issuers (cost $167,883,618) | 167,900,915 |
Options purchased (cost $5,859,000) | 22,766,786 |
Cash | 6,196 |
Foreign currency (cost $456,951) | 456,382 |
Cash collateral held at broker for: | |
Swap contracts | 6,018,000 |
Margin deposits on: | |
Swap contracts | 18,358,628 |
Unrealized appreciation on swap contracts | 7,002,511 |
Upfront payments on swap contracts | 462,090 |
Receivable for: | |
Investments sold on a delayed delivery basis | 97,970 |
Capital shares sold | 17,780,048 |
Dividends | 6,635 |
Interest | 11,980,203 |
Foreign tax reclaims | 65,142 |
Variation margin for futures contracts | 398,859 |
Variation margin for swap contracts | 296,971 |
Expense reimbursement due from Investment Manager | 9,054 |
Prepaid expenses | 31,585 |
Trustees’ deferred compensation plan | 372,281 |
Total assets | 3,114,837,864 |
Liabilities | |
Option contracts written, at value (premiums received $3,488,250) | 3,240,810 |
Unrealized depreciation on forward foreign currency exchange contracts | 53,832 |
Upfront receipts on swap contracts | 15,892,108 |
Payable for: | |
Investments purchased | 67,625,080 |
Investments purchased on a delayed delivery basis | 472,372,604 |
Capital shares purchased | 3,070,407 |
Distributions to shareholders | 7,058,948 |
Variation margin for swap contracts | 217,732 |
Management services fees | 33,397 |
Distribution and/or service fees | 5,994 |
Transfer agent fees | 195,319 |
Compensation of board members | 7,758 |
Compensation of chief compliance officer | 80 |
Other expenses | 84,511 |
Trustees’ deferred compensation plan | 372,281 |
Total liabilities | 570,230,861 |
Net assets applicable to outstanding capital stock | $2,544,607,003 |
Represented by | |
Paid in capital | 2,486,309,992 |
Total distributable earnings (loss) | 58,297,011 |
Total - representing net assets applicable to outstanding capital stock | $2,544,607,003 |
Columbia Total Return Bond Fund | Annual Report 2021 | 41 |
April 30, 2021
Class A | |
Net assets | $786,976,436 |
Shares outstanding | 20,841,582 |
Net asset value per share | $37.76 |
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) | $38.93 |
Advisor Class | |
Net assets | $159,565,191 |
Shares outstanding | 4,230,864 |
Net asset value per share | $37.71 |
Class C | |
Net assets | $20,492,173 |
Shares outstanding | 542,581 |
Net asset value per share | $37.77 |
Institutional Class | |
Net assets | $1,062,540,341 |
Shares outstanding | 28,121,695 |
Net asset value per share | $37.78 |
Institutional 2 Class | |
Net assets | $155,945,065 |
Shares outstanding | 4,135,454 |
Net asset value per share | $37.71 |
Institutional 3 Class | |
Net assets | $354,336,113 |
Shares outstanding | 9,376,901 |
Net asset value per share | $37.79 |
Class R | |
Net assets | $4,751,684 |
Shares outstanding | 125,787 |
Net asset value per share | $37.78 |
42 | Columbia Total Return Bond Fund | Annual Report 2021 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $104,092 |
Dividends — affiliated issuers | 172,045 |
Interest | 86,987,267 |
Total income | 87,263,404 |
Expenses: | |
Management services fees | 11,286,582 |
Distribution and/or service fees | |
Class A | 1,902,589 |
Class C | 224,460 |
Class R | 16,598 |
Transfer agent fees | |
Class A | 896,580 |
Advisor Class | 142,036 |
Class C | 26,459 |
Institutional Class | 1,000,160 |
Institutional 2 Class | 58,513 |
Institutional 3 Class | 32,609 |
Class R | 3,897 |
Compensation of board members | 51,140 |
Custodian fees | 49,760 |
Printing and postage fees | 166,165 |
Registration fees | 195,709 |
Audit fees | 49,500 |
Legal fees | 50,447 |
Interest on collateral | 10,957 |
Compensation of chief compliance officer | 750 |
Other | 96,409 |
Total expenses | 16,261,320 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (3,190,003) |
Fees waived by transfer agent | |
Institutional 2 Class | (4,572) |
Institutional 3 Class | (18,227) |
Expense reduction | (1,460) |
Total net expenses | 13,047,058 |
Net investment income | 74,216,346 |
Columbia Total Return Bond Fund | Annual Report 2021 | 43 |
Year Ended April 30, 2021
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | $43,839,407 |
Investments — affiliated issuers | 12,958 |
Foreign currency translations | 65,455 |
Forward foreign currency exchange contracts | (850,524) |
Futures contracts | 6,436,225 |
Options purchased | 9,142,975 |
Options contracts written | (11,499,811) |
Swap contracts | 19,248,486 |
Net realized gain | 66,395,171 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 105,099,255 |
Investments — affiliated issuers | (45,328) |
Foreign currency translations | 3,862 |
Forward foreign currency exchange contracts | (61,819) |
Futures contracts | (30,393,860) |
Options purchased | 6,052,747 |
Options contracts written | 12,171,149 |
Swap contracts | (5,450,125) |
Net change in unrealized appreciation (depreciation) | 87,375,881 |
Net realized and unrealized gain | 153,771,052 |
Net increase in net assets resulting from operations | $227,987,398 |
44 | Columbia Total Return Bond Fund | Annual Report 2021 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment income | $74,216,346 | $66,452,203 |
Net realized gain | 66,395,171 | 74,814,790 |
Net change in unrealized appreciation (depreciation) | 87,375,881 | (10,186,369) |
Net increase in net assets resulting from operations | 227,987,398 | 131,080,624 |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | (59,111,740) | (28,374,404) |
Advisor Class | (9,899,845) | (917,325) |
Class C | (1,663,273) | (640,789) |
Institutional Class | (69,252,953) | (41,089,999) |
Institutional 2 Class | (8,342,279) | (3,504,299) |
Institutional 3 Class | (41,349,583) | (13,042,685) |
Class R | (239,878) | (104,586) |
Total distributions to shareholders | (189,859,551) | (87,674,087) |
Increase in net assets from capital stock activity | 374,921,635 | 82,546,076 |
Total increase in net assets | 413,049,482 | 125,952,613 |
Net assets at beginning of year | 2,131,557,521 | 2,005,604,908 |
Net assets at end of year | $2,544,607,003 | $2,131,557,521 |
Columbia Total Return Bond Fund | Annual Report 2021 | 45 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares(a) | Dollars ($) | Shares(a) | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Subscriptions | 3,392,143 | 131,241,097 | 2,345,539 | 86,976,261 |
Distributions reinvested | 1,497,723 | 57,351,626 | 744,497 | 27,620,705 |
Redemptions | (2,850,040) | (109,899,016) | (3,116,740) | (115,432,974) |
Net increase (decrease) | 2,039,826 | 78,693,707 | (26,704) | (836,008) |
Advisor Class | ||||
Subscriptions | 2,218,443 | 85,382,536 | 2,406,090 | 85,975,933 |
Distributions reinvested | 258,509 | 9,883,128 | 24,570 | 910,428 |
Redemptions | (775,459) | (29,812,236) | (323,674) | (11,962,911) |
Net increase | 1,701,493 | 65,453,428 | 2,106,986 | 74,923,450 |
Class C | ||||
Subscriptions | 309,029 | 11,982,924 | 224,758 | 8,337,832 |
Distributions reinvested | 41,869 | 1,601,588 | 15,935 | 590,791 |
Redemptions | (368,227) | (14,177,432) | (203,152) | (7,516,746) |
Net increase (decrease) | (17,329) | (592,920) | 37,541 | 1,411,877 |
Institutional Class | ||||
Subscriptions | 13,153,693 | 506,956,850 | 10,344,142 | 383,685,986 |
Distributions reinvested | 1,704,417 | 65,293,510 | 825,354 | 30,636,564 |
Redemptions | (5,951,290) | (229,194,998) | (18,175,251) | (673,225,244) |
Net increase (decrease) | 8,906,820 | 343,055,362 | (7,005,755) | (258,902,694) |
Institutional 2 Class | ||||
Subscriptions | 2,429,819 | 93,135,315 | 715,018 | 26,394,160 |
Distributions reinvested | 217,562 | 8,317,392 | 94,125 | 3,488,347 |
Redemptions | (795,737) | (30,592,116) | (740,904) | (27,273,521) |
Net increase | 1,851,644 | 70,860,591 | 68,239 | 2,608,986 |
Institutional 3 Class | ||||
Subscriptions | 2,326,346 | 89,641,196 | 8,427,884 | 313,169,178 |
Distributions reinvested | 602,295 | 23,118,888 | 310,071 | 11,513,793 |
Redemptions | (7,755,176) | (297,530,308) | (1,664,749) | (61,415,937) |
Net increase (decrease) | (4,826,535) | (184,770,224) | 7,073,206 | 263,267,034 |
Class R | ||||
Subscriptions | 82,698 | 3,167,249 | 29,523 | 1,094,241 |
Distributions reinvested | 6,158 | 235,661 | 2,796 | 103,775 |
Redemptions | (30,713) | (1,181,219) | (30,405) | (1,124,585) |
Net increase | 58,143 | 2,221,691 | 1,914 | 73,431 |
Total net increase | 9,714,062 | 374,921,635 | 2,255,427 | 82,546,076 |
(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. |
46 | Columbia Total Return Bond 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 | Distributions from net realized gains | Tax return of capital | Total distributions to shareholders | |
Class A(c) | ||||||||
Year Ended 4/30/2021 | $36.96 | 1.16 | 2.64 | 3.80 | (1.13) | (1.87) | — | (3.00) |
Year Ended 4/30/2020 | $36.19 | 1.12 | 1.17 | 2.29 | (1.04) | (0.48) | — | (1.52) |
Year Ended 4/30/2019 | $35.33 | 1.12 | 0.74 | 1.86 | (1.00) | — | — | (1.00) |
Year Ended 4/30/2018 | $36.14 | 0.92 | (0.85) | 0.07 | (0.84) | — | (0.04) | (0.88) |
Year Ended 4/30/2017 | $36.78 | 1.00 | (0.16) | 0.84 | (0.92) | (0.56) | — | (1.48) |
Advisor Class(c) | ||||||||
Year Ended 4/30/2021 | $36.91 | 1.26 | 2.64 | 3.90 | (1.23) | (1.87) | — | (3.10) |
Year Ended 4/30/2020 | $36.16 | 1.20 | 1.15 | 2.35 | (1.12) | (0.48) | — | (1.60) |
Year Ended 4/30/2019 | $35.29 | 1.24 | 0.75 | 1.99 | (1.12) | — | — | (1.12) |
Year Ended 4/30/2018 | $36.09 | 1.00 | (0.84) | 0.16 | (0.92) | — | (0.04) | (0.96) |
Year Ended 4/30/2017 | $36.73 | 1.04 | (0.08) | 0.96 | (1.04) | (0.56) | — | (1.60) |
Class C(c) | ||||||||
Year Ended 4/30/2021 | $36.96 | 0.87 | 2.65 | 3.52 | (0.84) | (1.87) | — | (2.71) |
Year Ended 4/30/2020 | $36.19 | 0.84 | 1.17 | 2.01 | (0.76) | (0.48) | — | (1.24) |
Year Ended 4/30/2019 | $35.33 | 0.84 | 0.78 | 1.62 | (0.76) | — | — | (0.76) |
Year Ended 4/30/2018 | $36.15 | 0.64 | (0.86) | (0.22) | (0.56) | — | (0.04) | (0.60) |
Year Ended 4/30/2017 | $36.78 | 0.72 | (0.15) | 0.57 | (0.64) | (0.56) | — | (1.20) |
Institutional Class(c) | ||||||||
Year Ended 4/30/2021 | $36.98 | 1.26 | 2.64 | 3.90 | (1.23) | (1.87) | — | (3.10) |
Year Ended 4/30/2020 | $36.21 | 1.24 | 1.13 | 2.37 | (1.12) | (0.48) | — | (1.60) |
Year Ended 4/30/2019 | $35.34 | 1.20 | 0.79 | 1.99 | (1.12) | — | — | (1.12) |
Year Ended 4/30/2018 | $36.16 | 1.00 | (0.86) | 0.14 | (0.92) | — | (0.04) | (0.96) |
Year Ended 4/30/2017 | $36.79 | 1.08 | (0.11) | 0.97 | (1.04) | (0.56) | — | (1.60) |
Institutional 2 Class(c) | ||||||||
Year Ended 4/30/2021 | $36.91 | 1.28 | 2.64 | 3.92 | (1.25) | (1.87) | — | (3.12) |
Year Ended 4/30/2020 | $36.15 | 1.24 | 1.16 | 2.40 | (1.16) | (0.48) | — | (1.64) |
Year Ended 4/30/2019 | $35.29 | 1.28 | 0.70 | 1.98 | (1.12) | — | — | (1.12) |
Year Ended 4/30/2018 | $36.11 | 1.04 | (0.86) | 0.18 | (0.96) | — | (0.04) | (1.00) |
Year Ended 4/30/2017 | $36.74 | 1.08 | (0.11) | 0.97 | (1.04) | (0.56) | — | (1.60) |
48 | Columbia Total Return Bond 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 4/30/2021 | $37.76 | 10.36% | 0.88%(d) | 0.74%(d),(e) | 3.00% | 295% | $786,976 |
Year Ended 4/30/2020 | $36.96 | 6.34% | 0.90%(d) | 0.74%(d),(e) | 3.05% | 272% | $694,852 |
Year Ended 4/30/2019 | $36.19 | 5.45% | 0.91%(d) | 0.86%(d),(e) | 3.19% | 262% | $681,416 |
Year Ended 4/30/2018 | $35.33 | 0.08% | 0.91% | 0.86%(e) | 2.51% | 300% | $711,850 |
Year Ended 4/30/2017 | $36.14 | 2.37% | 0.89%(f) | 0.84%(e),(f) | 2.70% | 379% | $820,441 |
Advisor Class(c) | |||||||
Year Ended 4/30/2021 | $37.71 | 10.62% | 0.63%(d) | 0.49%(d),(e) | 3.27% | 295% | $159,565 |
Year Ended 4/30/2020 | $36.91 | 6.61% | 0.65%(d) | 0.49%(d),(e) | 3.32% | 272% | $93,369 |
Year Ended 4/30/2019 | $36.16 | 5.72% | 0.66%(d) | 0.61%(d),(e) | 3.53% | 262% | $15,272 |
Year Ended 4/30/2018 | $35.29 | 0.44% | 0.66% | 0.61%(e) | 2.72% | 300% | $6,726 |
Year Ended 4/30/2017 | $36.09 | 2.63% | 0.63%(f) | 0.59%(e),(f) | 2.87% | 379% | $18,057 |
Class C(c) | |||||||
Year Ended 4/30/2021 | $37.77 | 9.57% | 1.63%(d) | 1.49%(d),(e) | 2.25% | 295% | $20,492 |
Year Ended 4/30/2020 | $36.96 | 5.55% | 1.65%(d) | 1.50%(d),(e) | 2.30% | 272% | $20,696 |
Year Ended 4/30/2019 | $36.19 | 4.66% | 1.66%(d) | 1.61%(d),(e) | 2.37% | 262% | $18,905 |
Year Ended 4/30/2018 | $35.33 | (0.67%) | 1.66% | 1.61%(e) | 1.75% | 300% | $38,975 |
Year Ended 4/30/2017 | $36.15 | 1.61% | 1.64%(f) | 1.59%(e),(f) | 1.95% | 379% | $49,380 |
Institutional Class(c) | |||||||
Year Ended 4/30/2021 | $37.78 | 10.70% | 0.63%(d) | 0.49%(d),(e) | 3.26% | 295% | $1,062,540 |
Year Ended 4/30/2020 | $36.98 | 6.61% | 0.65%(d) | 0.49%(d),(e) | 3.30% | 272% | $710,558 |
Year Ended 4/30/2019 | $36.21 | 5.60% | 0.66%(d) | 0.61%(d),(e) | 3.42% | 262% | $949,377 |
Year Ended 4/30/2018 | $35.34 | 0.44% | 0.66% | 0.61%(e) | 2.76% | 300% | $1,037,101 |
Year Ended 4/30/2017 | $36.16 | 2.63% | 0.64%(f) | 0.59%(e),(f) | 2.94% | 379% | $1,083,917 |
Institutional 2 Class(c) | |||||||
Year Ended 4/30/2021 | $37.71 | 10.69% | 0.57%(d) | 0.43%(d) | 3.33% | 295% | $155,945 |
Year Ended 4/30/2020 | $36.91 | 6.69% | 0.57%(d) | 0.42%(d) | 3.38% | 272% | $84,295 |
Year Ended 4/30/2019 | $36.15 | 5.81% | 0.58%(d) | 0.53%(d) | 3.64% | 262% | $80,083 |
Year Ended 4/30/2018 | $35.29 | 0.38% | 0.58% | 0.55% | 2.82% | 300% | $31,099 |
Year Ended 4/30/2017 | $36.11 | 2.79% | 0.54%(f) | 0.54%(f) | 2.99% | 379% | $27,782 |
Columbia Total Return Bond Fund | Annual Report 2021 | 49 |
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 | Tax return of capital | Total distributions to shareholders | |
Institutional 3 Class(c) | ||||||||
Year Ended 4/30/2021 | $36.98 | 1.29 | 2.66 | 3.95 | (1.27) | (1.87) | — | (3.14) |
Year Ended 4/30/2020 | $36.21 | 1.24 | 1.17 | 2.41 | (1.16) | (0.48) | — | (1.64) |
Year Ended 4/30/2019 | $35.35 | 1.28 | 0.74 | 2.02 | (1.16) | — | — | (1.16) |
Year Ended 4/30/2018 | $36.16 | 1.04 | (0.85) | 0.19 | (0.96) | — | (0.04) | (1.00) |
Year Ended 4/30/2017 | $36.81 | 0.96 | 0.03(g) | 0.99 | (1.08) | (0.56) | — | (1.64) |
Class R(c) | ||||||||
Year Ended 4/30/2021 | $36.97 | 1.06 | 2.66 | 3.72 | (1.04) | (1.87) | — | (2.91) |
Year Ended 4/30/2020 | $36.20 | 1.04 | 1.17 | 2.21 | (0.96) | (0.48) | — | (1.44) |
Year Ended 4/30/2019 | $35.33 | 1.04 | 0.75 | 1.79 | (0.92) | — | — | (0.92) |
Year Ended 4/30/2018 | $36.15 | 0.80 | (0.82) | (0.02) | (0.76) | — | (0.04) | (0.80) |
Year Ended 4/30/2017 | $36.78 | 0.88 | (0.11) | 0.77 | (0.84) | (0.56) | — | (1.40) |
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 on collateral expense which is less than 0.01%. |
(e) | The benefits derived from expense reductions had an impact of less than 0.01%. |
(f) | 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 | Institutional Class | Institutional 2 Class | Institutional 3 Class | Class R |
04/30/2017 | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.01% | 0.02% |
(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. |
50 | Columbia Total Return Bond 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 4/30/2021 | $37.79 | 10.73% | 0.52%(d) | 0.38%(d) | 3.32% | 295% | $354,336 |
Year Ended 4/30/2020 | $36.98 | 6.86% | 0.53%(d) | 0.37%(d) | 3.42% | 272% | $525,287 |
Year Ended 4/30/2019 | $36.21 | 5.73% | 0.53%(d) | 0.49%(d) | 3.56% | 262% | $258,172 |
Year Ended 4/30/2018 | $35.35 | 0.55% | 0.52% | 0.50% | 2.85% | 300% | $272,332 |
Year Ended 4/30/2017 | $36.16 | 2.74% | 0.50%(f) | 0.50%(f) | 2.70% | 379% | $445,184 |
Class R(c) | |||||||
Year Ended 4/30/2021 | $37.78 | 10.15% | 1.13%(d) | 0.99%(d),(e) | 2.76% | 295% | $4,752 |
Year Ended 4/30/2020 | $36.97 | 6.08% | 1.15%(d) | 1.00%(d),(e) | 2.79% | 272% | $2,501 |
Year Ended 4/30/2019 | $36.20 | 5.19% | 1.16%(d) | 1.11%(d),(e) | 2.97% | 262% | $2,380 |
Year Ended 4/30/2018 | $35.33 | (0.17%) | 1.16% | 1.11%(e) | 2.24% | 300% | $1,637 |
Year Ended 4/30/2017 | $36.15 | 2.12% | 1.14%(f) | 1.09%(e),(f) | 2.43% | 379% | $2,284 |
Columbia Total Return Bond Fund | Annual Report 2021 | 51 |
April 30, 2021
52 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 53 |
April 30, 2021
54 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 55 |
April 30, 2021
56 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 57 |
April 30, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Credit risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | 7,002,511* |
Credit risk | Upfront payments on swap contracts | 462,090 |
Interest rate risk | Investments, at value — Options purchased | 22,766,786 |
Total | 30,231,387 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Credit risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | 3,172,743* |
Credit risk | Upfront receipts on swap contracts | 15,892,108 |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 53,832 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 9,997,381* |
Interest rate risk | Options contracts written, at value | 3,240,810 |
Interest rate risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | 2,678,262* |
Total | 35,035,136 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
58 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Amount of realized gain (loss) on derivatives recognized in income | ||||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | — | 17,506,071 | 17,506,071 |
Foreign exchange risk | (850,524) | — | — | — | — | (850,524) |
Interest rate risk | — | 6,436,225 | (11,499,811) | 9,142,975 | 1,742,415 | 5,821,804 |
Total | (850,524) | 6,436,225 | (11,499,811) | 9,142,975 | 19,248,486 | 22,477,351 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Options contracts written ($) | Options contracts purchased ($) | Swap contracts ($) | Total ($) |
Credit risk | — | — | — | — | (2,026,711) | (2,026,711) |
Foreign exchange risk | (61,819) | — | — | — | — | (61,819) |
Interest rate risk | — | (30,393,860) | 12,171,149 | 6,052,747 | (3,423,414) | (15,593,378) |
Total | (61,819) | (30,393,860) | 12,171,149 | 6,052,747 | (5,450,125) | (17,681,908) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 618,730,763 |
Futures contracts — short | 68,534,093 |
Credit default swap contracts — buy protection | 73,846,500 |
Credit default swap contracts — sell protection | 127,995,180 |
Derivative instrument | Average value ($) |
Options contracts — purchased | 9,578,556* |
Options contracts — written | (1,108,730)** |
Derivative instrument | Average unrealized appreciation ($) | Average unrealized depreciation ($) |
Forward foreign currency exchange contracts | 55,289* | (63,848)* |
Interest rate swap contracts | 283,121** | (262,290)** |
* | Based on the ending quarterly outstanding amounts for the year ended April 30, 2021. |
** | Based on the ending daily outstanding amounts for the year ended April 30, 2021. |
Columbia Total Return Bond Fund | Annual Report 2021 | 59 |
April 30, 2021
60 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Citi ($)(a) | Citi ($)(a) | JPMorgan ($) | Morgan Stanley ($)(a) | Morgan Stanley ($)(a) | UBS ($) | Total ($) | |
Assets | |||||||
Centrally cleared credit default swap contracts (b) | - | - | - | - | 296,971 | - | 296,971 |
Options purchased puts | 17,981,801 | - | - | 4,784,985 | - | - | 22,766,786 |
OTC credit default swap contracts (c) | - | 969,524 | 3,795,626 | 2,699,451 | - | - | 7,464,601 |
Total assets | 17,981,801 | 969,524 | 3,795,626 | 7,484,436 | 296,971 | - | 30,528,358 |
Liabilities | |||||||
Centrally cleared interest rate swap contracts (b) | - | - | - | - | 217,732 | - | 217,732 |
Forward foreign currency exchange contracts | - | - | - | - | - | 53,832 | 53,832 |
Options contracts written | 1,707,192 | - | - | 1,533,618 | - | - | 3,240,810 |
OTC credit default swap contracts (c) | - | 3,407,282 | 7,042,031 | 5,442,795 | - | - | 15,892,108 |
Total liabilities | 1,707,192 | 3,407,282 | 7,042,031 | 6,976,413 | 217,732 | 53,832 | 19,404,482 |
Total financial and derivative net assets | 16,274,609 | (2,437,758) | (3,246,405) | 508,023 | 79,239 | (53,832) | 11,123,876 |
Total collateral received (pledged) (d) | 15,978,000 | (2,437,758) | (3,246,405) | 508,023 | - | - | 10,801,860 |
Net amount (e) | 296,609 | - | - | - | 79,239 | (53,832) | 322,016 |
(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) | Over-the-Counter (OTC) swap contracts are presented at market value plus periodic payments receivable (payable), which is comprised of unrealized appreciation, unrealized depreciation, upfront payments and upfront receipts. |
(d) | In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(e) | Represents the net amount due from/(to) counterparties in the event of default. |
Columbia Total Return Bond Fund | Annual Report 2021 | 61 |
April 30, 2021
62 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 63 |
April 30, 2021
Effective rate (%) | |
Class A | 0.12 |
Advisor Class | 0.12 |
Class C | 0.12 |
Institutional Class | 0.12 |
Institutional 2 Class | 0.05 |
Institutional 3 Class | 0.00 |
Class R | 0.12 |
64 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Front End (%) | CDSC (%) | Amount ($) | |
Class A | 3.00 | 0.50 - 1.00(a) | 553,971 |
Class C | — | 1.00(b) | 983 |
(a) | This charge is imposed on certain investments of between $1 million and $50 million redeemed within 18 months after purchase, as follows: 1.00% if redeemed within 12 months after purchase, and 0.50% if redeemed more than 12, but less than 18, months after purchase, with certain limited exceptions. |
(b) | This charge applies to redemptions within 12 months after purchase, with certain limited exceptions. |
September 1, 2020 through August 31, 2021 | Prior to September 1, 2020 | |
Class A | 0.75% | 0.75% |
Advisor Class | 0.50 | 0.50 |
Class C | 1.50 | 1.50 |
Institutional Class | 0.50 | 0.50 |
Institutional 2 Class | 0.43 | 0.42 |
Institutional 3 Class | 0.38 | 0.37 |
Class R | 1.00 | 1.00 |
Columbia Total Return Bond Fund | Annual Report 2021 | 65 |
April 30, 2021
Excess of distributions over net investment income ($) | Accumulated net realized gain ($) | Paid in capital ($) |
(9,844,186) | 9,844,186 | — |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
154,497,770 | 35,361,781 | 189,859,551 | 79,046,412 | 8,627,675 | 87,674,087 |
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
7,235,992 | 6,937,567 | — | 51,559,023 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
2,987,795,769 | 96,871,816 | (45,312,793) | 51,559,023 |
66 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 67 |
April 30, 2021
68 | Columbia Total Return Bond Fund | Annual Report 2021 |
April 30, 2021
Columbia Total Return Bond Fund | Annual Report 2021 | 69 |
April 30, 2021
70 | Columbia Total Return Bond Fund | Annual Report 2021 |
Columbia Total Return Bond Fund | Annual Report 2021 | 71 |
Capital gain dividend | Section 163(j) Interest Dividends |
$13,287,276 | 46.06% |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | 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 |
72 | Columbia Total Return Bond 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
Columbia Total Return Bond Fund | Annual Report 2021 | 73 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 |
74 | Columbia Total Return Bond 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 Total Return Bond Fund | Annual Report 2021 | 75 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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). |
76 | Columbia Total Return Bond 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
Columbia Total Return Bond Fund | Annual Report 2021 | 77 |
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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
78 | Columbia Total Return Bond Fund | Annual Report 2021 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
Columbia Total Return Bond Fund | Annual Report 2021 | 79 |
columbiathreadneedleus.com/investor/. The Fund is distributed by Columbia Management Investment Distributors, Inc., member FINRA, and managed by Columbia Management Investment Advisers, LLC.
April 30, 2021
3 | |
6 | |
10 | |
11 | |
34 | |
35 | |
36 | |
37 | |
38 | |
52 | |
53 | |
53 | |
59 | |
60 |
Average annual total returns (%) (for the period ended April 30, 2021) | ||||
Inception | 1 Year | Life | ||
Institutional Class* | 01/03/17 | 20.50 | 3.36 | |
HFRX Equity Hedge Index | 22.11 | 4.79 | ||
Wilshire Liquid Alternative Equity Hedge Index | 20.67 | 4.77 | ||
MSCI World Index (Net) | 45.33 | 15.07 |
* | 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. Returns shown for periods prior to the inception date of the Fund’s Institutional Class shares include the returns of the Fund’s Class A shares for the period from October 17, 2016 (the inception date of the Fund) through January 2, 2017. Class A shares were offered prior to the Fund’s Institutional Class shares but have since been merged into the Fund’s Institutional Class shares. 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. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 3 |
Portfolio breakdown — long positions (%) (at April 30, 2021) | |
Common Stocks | 151.2 |
Preferred Stocks | 0.2 |
Rights | 0.0(a) |
Short-Term Investments Segregated in Connection with Open Derivatives Contracts(b) | 14.7 |
Total | 166.1 |
(a) | Rounds to zero. |
(b) | Includes investments in Money Market Funds (amounting to $22.0 million) which have been segregated to cover obligations relating to the Fund’s investment in derivatives which provide exposure to multiple markets. For a description of the Fund’s investments in derivatives, see Investments in derivatives following the Portfolio of Investments and Note 2 to the Notes to Financial Statements. |
Portfolio breakdown — short positions (%) (at April 30, 2021) | |
Common Stocks | (65.2) |
Preferred Stocks | (0.9) |
Rights | (0.0)(a) |
Total | (66.1) |
(a) | Rounds to zero. |
Equity sector breakdown — long positions (%) (at April 30, 2021) | |
Communication Services | 8.8 |
Consumer Discretionary | 14.1 |
Consumer Staples | 8.9 |
Energy | 5.6 |
Financials | 11.4 |
Health Care | 9.7 |
Industrials | 18.9 |
Information Technology | 13.8 |
Materials | 7.9 |
Real Estate | 0.2 |
Utilities | 0.7 |
Total | 100.0 |
4 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
Equity sector breakdown — short positions (%) (at April 30, 2021) | |
Communication Services | (3.9) |
Consumer Discretionary | (10.4) |
Consumer Staples | (6.7) |
Energy | (7.7) |
Financials | (17.9) |
Health Care | (16.0) |
Industrials | (13.8) |
Information Technology | (10.0) |
Materials | (11.3) |
Real Estate | (0.9) |
Utilities | (1.4) |
Total | (100.0) |
Market exposure through derivatives investments (% of notional exposure) (at April 30, 2021)(a) | |||
Long | Short | Net | |
Equity Derivative Contracts | 326.8 | (258.1) | 68.7 |
Foreign Currency Derivative Contracts | 42.8 | (11.5) | 31.3 |
Total Notional Market Value of Derivative Contracts | 369.6 | (269.6) | 100.0 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 5 |
6 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
• | Outperformance in our portion of the Fund’s portfolio during the period was driven by passive market exposure, which is implemented entirely using derivatives. |
• | Neutral stock selection also contributed, along with, to a lesser degree, tactical market exposure (also achieved entirely through derivative securities). |
• | From an investment theme perspective, valuation, momentum and sentiment also drove gains. |
• | While our portion of the portfolio is managed with a market neutral model, the top contributing sectors were the energy, utilities and financials sectors. |
• | Top individual contributors during the period were Deckers Outdoors (United States), L Brands Inc. (United States) and Royal Mail (United Kingdom). We sold Deckers Outdoors and L Brands from our portion of the Fund’s portfolio. |
• | From a country perspective, stock selection within the United States and United Kingdom contributed to performance during the period. |
• | From an investment theme perspective, quality offset gains from the valuation, momentum and sentiment themes. |
• | While our portion of the portfolio is managed with a market neutral model, the largest detracting sectors were the health care and information technology sectors. |
• | Top individual detractors during the period were Twilio Inc. (United States), SVB Financial Group (United States) and Lyft Inc. (United Kingdom). We sold SVB Financial and Lyft from our portion of the Fund’s portfolio. |
• | From a country perspective, Germany, France and Switzerland accounted for the largest lags to our portion of the Fund’s performance. |
• | During the period, we rotated the long portfolio toward what we viewed to be inexpensive yet very high-quality businesses in cyclical sectors such as industrials, consumer discretionary, energy, and finance. This tilt toward less expensive, more cyclical areas of the market strongly benefitted performance and resulted in our long portfolio outperforming the S&P 500 during the period. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 7 |
• | Top absolute contributors came from the industrials, financials and information technology sectors in the long portfolio. |
○ | Within the industrials sector, electronics distributors, aerospace-related companies and business services all benefited from an improved post-vaccine economic outlook and strong and growing order backlogs. |
○ | Within the financials sector, banks rose along with higher interest rates and improved prospects of significant share buybacks due to excess capital likely being released in coming quarters, as banks overprovisioned for what at this point has been a better-than-feared credit environment. |
○ | Semiconductor stocks within the information technology sector led gains on strengthening pricing and lessened fears of trade disruption amid a new U.S. administration. |
• | The short portfolio rose in price and detracted from performance. In our opinion, 2020 was simply the worst year for shorting expensive companies with weak to negative profitability in our firm’s 25-year history. Detractors were broad-based. |
• | Top absolute detractors came from the consumer discretionary, information technology, and industrials sectors in the short portfolio. |
• | Within consumer discretionary, several auto-related and small-to mid-cap e-commerce shorts rose higher in valuation amid the pandemic. |
• | Within information technology, several small- to mid-cap software-as-a-service shorts soared in valuation to what we viewed as extremely high price-to-sales (P/S) ratios. |
• | Lastly, within the industrials sector, shorts detracted in the second half of 2020 as many lower quality machinery and aerospace-related shorts moved higher as economic prospects improved. |
• | Our portion of the portfolio’s overweight to stocks in the information technology and health care sectors contributed, given their strong performance. |
• | Our return forecasting model was additive in the long book as high alpha stocks outperformed. Exposure to quality and momentum factors were particularly additive in the long portfolio, especially in the first six months of the period. |
• | More recently in the period, the dynamic nature of the alpha model has tilted the portfolio toward value factors which have performed well in the first few months of 2021. |
• | From a country perspective, exposure to Israel, Denmark and Canada was additive to performance. |
8 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
• | Being short in high beta stocks in our portion of the portfolio was the primary driver of underperformance during the period. High beta stocks outperformed low beta stocks by 63% in the 12-month period that ended April 30, 2021, one of the largest spreads we have experienced in the last 25 years. |
• | A tilt in our portion of the portfolio towards low beta stocks in the consumer discretionary sector detracted, as those stocks underperformed the market. |
• | Underweighting higher risk financial stocks, which were among the best performing stocks during the period, also weighed on performance. |
• | From a country perspective, exposure to Austria, Germany and Italy detracted from performance. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 9 |
(Unaudited)
November 1, 2020 — April 30, 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 | |
Institutional Class | 1,000.00 | 1,000.00 | 1,183.30 | 1,011.22 | 14.97 | 13.79 | 2.75 |
10 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks 81.3% | ||
Issuer | Shares | Value ($) |
Communication Services 7.1% | ||
Diversified Telecommunication Services 0.3% | ||
Proximus SADP | 10,280 | 219,015 |
Telecom Italia SpA | 711,919 | 390,324 |
Telefonica Deutschland Holding AG | 28,862 | 83,878 |
Telenor ASA | 626 | 11,152 |
Total | 704,369 | |
Entertainment 1.6% | ||
Electronic Arts, Inc.(a) | 4,679 | 664,792 |
Embracer Group AB(b) | 9,659 | 295,068 |
Live Nation Entertainment, Inc.(b) | 4,241 | 347,253 |
NetEase, Inc., ADR | 2,713 | 304,019 |
Nintendo Co., Ltd. | 4,000 | 2,294,613 |
Take-Two Interactive Software, Inc.(a),(b) | 3,029 | 531,226 |
Total | 4,436,971 | |
Interactive Media & Services 2.5% | ||
Alphabet, Inc., Class A(a),(b) | 1,250 | 2,941,875 |
Alphabet, Inc., Class C(b) | 443 | 1,067,683 |
Baidu, Inc., ADR(b) | 1,211 | 254,710 |
Facebook, Inc., Class A(b) | 8,030 | 2,610,393 |
Yelp, Inc.(b) | 5,508 | 216,464 |
Total | 7,091,125 | |
Media 1.7% | ||
Altice U.S.A., Inc., Class A(b) | 8,461 | 307,219 |
Charter Communications, Inc., Class A(b) | 645 | 434,375 |
Cogeco Communications, Inc. | 287 | 27,260 |
Discovery, Inc., Class C(a),(b) | 354 | 11,438 |
EW Scripps Co. (The), Class A(a) | 20,414 | 441,351 |
Fox Corp., Class A(a) | 16,063 | 601,077 |
Fox Corp., Class B(a) | 12,356 | 449,511 |
News Corp., Class A(a) | 29,944 | 784,383 |
Nexstar Media Group, Inc., Class A | 5,712 | 842,006 |
ProSiebenSat.1 Media AG(b) | 4,901 | 106,443 |
TEGNA, Inc. | 34,111 | 684,267 |
Telenet Group Holding NV | 3,512 | 150,179 |
Total | 4,839,509 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Wireless Telecommunication Services 1.0% | ||
Freenet AG | 1,435 | 34,894 |
T-Mobile USA, Inc.(b) | 6,828 | 902,184 |
Vodafone Group PLC | 976,340 | 1,842,549 |
Total | 2,779,627 | |
Total Communication Services | 19,851,601 | |
Consumer Discretionary 11.4% | ||
Auto Components 0.3% | ||
Continental AG | 1,904 | 257,306 |
Gentex Corp. | 6,204 | 218,257 |
Magna International, Inc. | 99 | 9,349 |
Nokian Renkaat OYJ | 4,764 | 177,371 |
Pirelli & C. SpA(b) | 23,226 | 130,499 |
Total | 792,782 | |
Automobiles 0.9% | ||
Bayerische Motoren Werke AG | 2,987 | 299,328 |
Daimler AG, Registered Shares | 2,377 | 211,550 |
Harley-Davidson, Inc. | 24,528 | 1,186,419 |
Stellantis NV | 39,707 | 657,926 |
Tesla Motors, Inc.(a),(b) | 182 | 129,118 |
Total | 2,484,341 | |
Distributors 0.2% | ||
LKQ Corp.(b) | 13,338 | 623,018 |
Diversified Consumer Services 0.2% | ||
Stride, Inc.(b) | 17,727 | 507,524 |
Hotels, Restaurants & Leisure 2.8% | ||
Caesars Entertainment, Inc.(b) | 3,974 | 388,816 |
Domino’s Pizza, Inc.(a) | 1,903 | 803,713 |
Entain PLC(b) | 33,381 | 780,336 |
Evolution Gaming Group AB | 620 | 122,393 |
Flutter Entertainment PLC(b) | 3,840 | 786,898 |
Genting Singapore Ltd. | 23,900 | 15,500 |
International Game Technology PLC(b) | 16,836 | 289,916 |
La Francaise des Jeux SAEM | 13,040 | 668,257 |
Las Vegas Sands Corp.(b) | 10,006 | 612,968 |
McDonald’s Holdings Co. Japan Ltd. | 17,700 | 808,148 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 11 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Restaurant Brands International, Inc. | 5,478 | 375,846 |
Travel + Leisure Co. | 5,388 | 347,688 |
Vail Resorts, Inc.(a),(b) | 4,197 | 1,364,696 |
Wyndham Hotels & Resorts, Inc. | 4,218 | 308,378 |
Total | 7,673,553 | |
Household Durables 2.0% | ||
D.R. Horton, Inc.(a) | 13,494 | 1,326,325 |
Electrolux AB, Class B | 45,390 | 1,273,947 |
Husqvarna AB, Class B | 9,626 | 134,047 |
Iida Group Holdings Co., Ltd. | 16,200 | 394,541 |
Mohawk Industries, Inc.(b) | 2,851 | 585,880 |
NVR, Inc.(a),(b) | 4 | 20,072 |
PulteGroup, Inc.(a) | 22,864 | 1,351,720 |
Tempur Sealy International, Inc. | 7,226 | 275,600 |
Whirlpool Corp.(a) | 1,226 | 289,888 |
Total | 5,652,020 | |
Internet & Direct Marketing Retail 1.2% | ||
Alibaba Group Holding Ltd., ADR(b) | 3,559 | 821,951 |
Amazon.com, Inc.(b) | 250 | 866,855 |
BHG Group AB(b) | 12,673 | 243,491 |
eBay, Inc.(a) | 15,209 | 848,510 |
Etsy, Inc.(a),(b) | 357 | 70,968 |
HelloFresh SE(b) | 6,771 | 561,690 |
Temple & Webster Group Ltd.(b) | 1,587 | 12,992 |
Total | 3,426,457 | |
Leisure Products 1.2% | ||
BRP, Inc. | 1,934 | 177,674 |
Callaway Golf Co. | 19,196 | 555,724 |
Hasbro, Inc. | 3,487 | 346,782 |
Mattel, Inc.(a),(b) | 24,019 | 515,448 |
Nautilus, Inc.(a),(b) | 20,232 | 339,088 |
Smith & Wesson Brands, Inc.(a) | 22,310 | 388,194 |
Spin Master Corp.(b) | 1,000 | 33,877 |
Sturm Ruger & Co., Inc.(a) | 7,446 | 483,543 |
Vista Outdoor, Inc.(a),(b) | 12,692 | 413,886 |
Total | 3,254,216 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Multiline Retail 0.6% | ||
Canadian Tire Corp., Ltd., Class A | 553 | 88,145 |
Dollar General Corp. | 1,278 | 274,451 |
Target Corp.(a) | 5,851 | 1,212,678 |
Total | 1,575,274 | |
Specialty Retail 1.3% | ||
AutoNation, Inc.(b) | 3,530 | 361,754 |
AutoZone, Inc.(b) | 812 | 1,188,866 |
Dick’s Sporting Goods, Inc. | 2,562 | 211,570 |
Foot Locker, Inc. | 6,304 | 371,810 |
H & M Hennes & Mauritz AB(b) | 695 | 17,102 |
Rent-A-Center, Inc.(a) | 198 | 11,395 |
Ross Stores, Inc. | 2,661 | 348,431 |
Shimamura Co., Ltd. | 5,200 | 514,435 |
Sleep Number Corp.(a),(b) | 2,216 | 247,948 |
Ulta Beauty, Inc.(b) | 1,263 | 415,969 |
Total | 3,689,280 | |
Textiles, Apparel & Luxury Goods 0.7% | ||
Carter’s, Inc.(b) | 3,790 | 412,314 |
Hanesbrands, Inc. | 10,962 | 230,860 |
Hugo Boss AG | 5,240 | 241,695 |
Pandora A/S(b) | 5,600 | 634,194 |
PVH Corp.(b) | 2,886 | 326,638 |
Swatch Group AG (The) | 747 | 228,960 |
Total | 2,074,661 | |
Total Consumer Discretionary | 31,753,126 | |
Consumer Staples 7.2% | ||
Beverages 0.5% | ||
Carlsberg AS, Class B | 452 | 79,299 |
Coca-Cola European Partners PLC | 22,904 | 1,301,405 |
Total | 1,380,704 | |
Food & Staples Retailing 2.6% | ||
Alimentation Couche-Tard, Inc., Class B | 104 | 3,524 |
Carrefour SA | 70,948 | 1,374,050 |
Costco Wholesale Corp.(a) | 3,469 | 1,290,780 |
Empire Co., Ltd., Class A | 22,400 | 704,539 |
Etablissements Franz Colruyt NV | 1,621 | 96,137 |
George Weston Ltd. | 214 | 18,896 |
12 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Kesko OYJ, Class B | 12,695 | 386,555 |
Koninklijke Ahold Delhaize NV | 87,160 | 2,345,643 |
Kroger Co. (The)(a) | 18,219 | 665,722 |
Loblaw Companies Ltd. | 624 | 34,648 |
METRO AG | 8,667 | 94,744 |
U.S. Foods Holding Corp.(b) | 7,551 | 313,065 |
Total | 7,328,303 | |
Food Products 2.4% | ||
Archer-Daniels-Midland Co.(a) | 28,225 | 1,781,844 |
Bunge Ltd.(a) | 17,174 | 1,449,829 |
Campbell Soup Co.(a) | 9,065 | 432,854 |
Kellogg Co.(a) | 19,207 | 1,198,901 |
Leroy Seafood Group ASA | 9,996 | 91,638 |
Mondelez International, Inc., Class A | 9,695 | 589,553 |
Nomad Foods Ltd.(b) | 31,170 | 908,917 |
Orkla | 15,672 | 159,747 |
Total | 6,613,283 | |
Household Products 0.5% | ||
Clorox Co. (The)(a) | 4,588 | 837,310 |
Essity AB, Class B | 3,439 | 112,242 |
Procter & Gamble Co. (The) | 3,093 | 412,668 |
Total | 1,362,220 | |
Personal Products 0.5% | ||
BellRing Brands, Inc., Class A(a),(b) | 9,927 | 256,017 |
Blackmores Ltd. | 461 | 25,393 |
Herbalife Nutrition Ltd.(a),(b) | 13,472 | 616,613 |
Nu Skin Enterprises, Inc., Class A(a) | 8,366 | 442,227 |
Total | 1,340,250 | |
Tobacco 0.7% | ||
Philip Morris International, Inc. | 14,253 | 1,354,035 |
Swedish Match AB | 7,877 | 644,847 |
Total | 1,998,882 | |
Total Consumer Staples | 20,023,642 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Energy 4.6% | ||
Energy Equipment & Services 1.0% | ||
ChampionX Corp.(b) | 20,061 | 421,481 |
Halliburton Co. | 37,555 | 734,576 |
Helmerich & Payne, Inc. | 23,401 | 599,768 |
National Energy Services Reunited Corp.(b) | 21,308 | 270,398 |
Schlumberger NV | 29,513 | 798,327 |
Subsea 7 SA | 5,250 | 53,083 |
Total | 2,877,633 | |
Oil, Gas & Consumable Fuels 3.6% | ||
BP PLC, ADR | 22,832 | 574,453 |
Canadian Natural Resources Ltd. | 460 | 13,963 |
Canadian Natural Resources Ltd. | 13,286 | 403,629 |
Cenovus Energy, Inc. | 100,751 | 784,434 |
ConocoPhillips Co. | 12,077 | 617,618 |
Delek U.S. Holdings, Inc. | 23,793 | 564,608 |
Devon Energy Corp. | 29,717 | 694,783 |
Diamondback Energy, Inc. | 8,501 | 694,787 |
Enerplus Corp. | 95,302 | 512,505 |
EOG Resources, Inc. | 9,231 | 679,771 |
Gibson Energy, Inc. | 2,692 | 49,168 |
HollyFrontier Corp. | 18,016 | 630,560 |
Imperial Oil Ltd. | 1,221 | 35,265 |
Keyera | 197 | 4,505 |
Kosmos Energy Ltd.(b) | 139,461 | 398,858 |
Marathon Petroleum Corp. | 11,604 | 645,763 |
Parex Resources, Inc.(b) | 31,781 | 598,568 |
Parkland Fuel Corp. | 957 | 30,739 |
PDC Energy, Inc.(b) | 13,277 | 484,743 |
Pioneer Natural Resources Co. | 4,266 | 656,239 |
Royal Dutch Shell PLC, ADR, Class A | 15,268 | 580,184 |
Suncor Energy, Inc. | 1,291 | 27,613 |
Tourmaline Oil Corp. | 7,996 | 172,521 |
Total | 9,855,277 | |
Total Energy | 12,732,910 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 13 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Financials 9.3% | ||
Banks 4.3% | ||
Banco BPM SpA | 106,771 | 303,678 |
Bank of America Corp.(a) | 28,857 | 1,169,574 |
BNP Paribas SA(b) | 5,761 | 369,382 |
Canadian Imperial Bank of Commerce | 4,821 | 501,182 |
Citigroup, Inc.(a) | 12,810 | 912,584 |
DBS Group Holdings Ltd. | 10,400 | 233,075 |
DNB ASA | 8,828 | 189,327 |
Fifth Third Bancorp | 25,313 | 1,026,189 |
Hana Financial Group, Inc. | 5,605 | 229,746 |
Huntington Bancshares, Inc. | 42,190 | 646,351 |
ING Groep NV | 33,260 | 424,896 |
JPMorgan Chase & Co.(a) | 6,738 | 1,036,372 |
KeyCorp | 43,999 | 957,418 |
Nordea Bank Abp | 33,843 | 350,769 |
OTP Bank Nyrt(b) | 3,214 | 144,485 |
Regions Financial Corp. | 35,389 | 771,480 |
Sumitomo Mitsui Financial Group, Inc. | 6,200 | 217,798 |
Svenska Handelsbanken AB, Class A | 4,510 | 52,227 |
Truist Financial Corp. | 16,125 | 956,374 |
UniCredit SpA | 44,832 | 460,514 |
United Overseas Bank Ltd. | 13,200 | 263,113 |
Wells Fargo & Co.(a) | 17,466 | 786,843 |
Total | 12,003,377 | |
Capital Markets 1.9% | ||
3i Group PLC | 32,966 | 583,887 |
Artisan Partners Asset Management, Inc., Class A | 6,343 | 322,986 |
Azimut Holding SpA | 4,631 | 110,799 |
Banca Generali SpA(b) | 3,900 | 149,117 |
Bank of New York Mellon Corp. (The) | 11,046 | 550,974 |
CI Financial Corp. | 9,138 | 146,904 |
Credit Suisse Group AG, Registered Shares | 22,945 | 240,463 |
Deutsche Bank AG, Registered Shares(b) | 73,365 | 1,022,067 |
Goldman Sachs Group, Inc. (The) | 1,747 | 608,742 |
IGM Financial, Inc. | 600 | 21,420 |
Moody’s Corp. | 1,574 | 514,242 |
S&P Global, Inc.(a) | 1,438 | 561,381 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
UBS AG | 15,368 | 234,679 |
UBS Group AG, Registered Shares | 13,649 | 208,693 |
Total | 5,276,354 | |
Consumer Finance 0.8% | ||
Capital One Financial Corp. | 3,409 | 508,214 |
Discover Financial Services | 4,777 | 544,578 |
Navient Corp. | 8,427 | 141,826 |
SLM Corp. | 32,284 | 634,703 |
Synchrony Financial | 8,497 | 371,659 |
Total | 2,200,980 | |
Diversified Financial Services 0.8% | ||
Berkshire Hathaway, Inc., Class B(a),(b) | 7,270 | 1,998,886 |
Onex Capital | 925 | 61,928 |
Total | 2,060,814 | |
Insurance 1.5% | ||
Ageas SA/NV | 4,271 | 258,310 |
Allstate Corp. (The) | 4,195 | 531,926 |
American International Group, Inc. | 5,062 | 245,254 |
ASR Nederland NV | 6,580 | 287,384 |
Assicurazioni Generali SpA | 3,826 | 76,583 |
Everest Re Group Ltd. | 1,372 | 379,975 |
Fairfax Financial Holdings Ltd. | 2,937 | 1,341,871 |
iA Financial Corp., Inc. | 1,442 | 81,207 |
Manulife Financial Corp. | 6,122 | 133,681 |
NN Group NV | 4,118 | 205,400 |
Poste Italiane SpA | 3,099 | 40,569 |
RenaissanceRe Holdings Ltd. | 1,286 | 217,090 |
Swiss Life Holding AG, Registered Shares | 22 | 10,719 |
Unipol Gruppo SpA(b) | 70,690 | 386,330 |
Total | 4,196,299 | |
Total Financials | 25,737,824 | |
Health Care 7.9% | ||
Biotechnology 1.3% | ||
AbbVie, Inc. | 10,850 | 1,209,775 |
Amgen, Inc. | 2,214 | 530,563 |
Biogen, Inc.(b) | 203 | 54,268 |
Genmab A/S(b) | 595 | 218,342 |
Regeneron Pharmaceuticals, Inc.(a),(b) | 1,331 | 640,610 |
14 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Swedish Orphan Biovitrum AB(b) | 12,829 | 218,299 |
Vertex Pharmaceuticals, Inc.(a),(b) | 3,603 | 786,175 |
Total | 3,658,032 | |
Health Care Equipment & Supplies 1.9% | ||
Abbott Laboratories | 6,790 | 815,343 |
Boston Scientific Corp.(b) | 8,353 | 364,191 |
Coloplast A/S, Class B | 41 | 6,791 |
Demant A/S(b) | 225 | 11,264 |
DiaSorin SpA | 604 | 102,582 |
Envista Holdings Corp.(b) | 7,240 | 313,347 |
Getinge AB, Series CPO | 13,380 | 452,525 |
Hologic, Inc.(a),(b) | 16,189 | 1,061,189 |
Koninklijke Philips NV(b) | 693 | 39,184 |
Medtecs International Corp., Ltd. | 32,900 | 27,341 |
Medtronic PLC | 3,496 | 457,696 |
Ortho Clinical Diagnostics Holdings PLC(b) | 16,381 | 322,542 |
Sonova Holding AG(b) | 705 | 208,751 |
Stryker Corp. | 2,255 | 592,231 |
Zimmer Biomet Holdings, Inc. | 2,792 | 494,631 |
Total | 5,269,608 | |
Health Care Providers & Services 2.0% | ||
AmerisourceBergen Corp. | 910 | 109,928 |
Anthem, Inc.(a) | 1,433 | 543,666 |
Centene Corp.(b) | 4,020 | 248,195 |
Cigna Corp.(a) | 2,491 | 620,284 |
CVS Health Corp. | 6,853 | 523,569 |
Fresenius Medical Care AG & Co. KGaA | 7,046 | 561,047 |
Galenica AG | 2,161 | 146,249 |
HCA Healthcare, Inc. | 2,420 | 486,565 |
Humana, Inc. | 1,016 | 452,364 |
Molina Healthcare, Inc.(b) | 204 | 52,040 |
R1 RCM, Inc.(b) | 6,525 | 178,002 |
UnitedHealth Group, Inc. | 3,263 | 1,301,284 |
Universal Health Services, Inc., Class B | 2,089 | 310,029 |
Total | 5,533,222 | |
Health Care Technology 0.3% | ||
Cerner Corp.(a) | 12,162 | 912,758 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Life Sciences Tools & Services 1.5% | ||
Avantor, Inc.(b) | 24,355 | 780,334 |
ICON PLC(b) | 1,019 | 221,072 |
IQVIA Holdings, Inc.(b) | 667 | 156,538 |
PerkinElmer, Inc.(a) | 7,014 | 909,225 |
PPD, Inc.(b) | 8,589 | 396,812 |
QIAGEN NV(b) | 535 | 26,083 |
Sotera Health Co.(b) | 14,797 | 381,171 |
Syneos Health, Inc.(b) | 1,016 | 86,208 |
Tecan Group AG, Registered Shares | 35 | 17,055 |
Thermo Fisher Scientific, Inc.(a) | 2,357 | 1,108,332 |
Total | 4,082,830 | |
Pharmaceuticals 0.9% | ||
AstraZeneca PLC | 4,031 | 429,076 |
Bayer AG, Registered Shares | 3,933 | 254,498 |
H Lundbeck A/S | 3,277 | 100,908 |
Jazz Pharmaceuticals PLC(b) | 257 | 42,251 |
Johnson & Johnson(a) | 4,045 | 658,243 |
Merck & Co., Inc. | 576 | 42,912 |
Novartis AG, ADR | 1,416 | 120,700 |
Novartis AG, Registered Shares | 1,308 | 111,620 |
Novo Nordisk A/S, Class B | 3,103 | 228,900 |
Orion Oyj, Class B | 3,396 | 150,371 |
Sanofi | 1,156 | 121,198 |
UCB SA | 4,232 | 391,875 |
Total | 2,652,552 | |
Total Health Care | 22,109,002 | |
Industrials 15.4% | ||
Aerospace & Defense 2.0% | ||
Boeing Co. (The)(b) | 1,643 | 384,971 |
BWX Technologies, Inc. | 5,616 | 375,823 |
General Dynamics Corp. | 2,774 | 527,698 |
Hexcel Corp.(b) | 10,345 | 583,562 |
Howmet Aerospace, Inc.(b) | 15,191 | 485,504 |
Lockheed Martin Corp.(a) | 4,899 | 1,864,364 |
Maxar Technologies, Inc. | 7,105 | 275,745 |
Moog, Inc., Class A | 4,154 | 359,529 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 15 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Saab AB, Class B | 5,447 | 161,228 |
Textron, Inc. | 7,285 | 467,988 |
Total | 5,486,412 | |
Air Freight & Logistics 1.7% | ||
bpost SA(b) | 13,793 | 146,588 |
Cia de Distribucion Integral Logista Holdings SA | 8,323 | 173,031 |
Deutsche Post AG | 7,941 | 467,702 |
Expeditors International of Washington, Inc.(a) | 15,188 | 1,668,554 |
FedEx Corp.(a) | 5,104 | 1,481,742 |
Royal Mail PLC(b) | 108,257 | 741,689 |
Total | 4,679,306 | |
Airlines 0.2% | ||
Air Canada(b) | 28,126 | 566,799 |
Building Products 0.7% | ||
Allegion PLC | 4,111 | 552,436 |
Cie de Saint-Gobain(b) | 6,066 | 382,735 |
dorma+kaba Holding AG, Class B Registered Shares | 216 | 141,941 |
Geberit AG | 27 | 17,766 |
Owens Corning(a) | 7,270 | 703,809 |
Total | 1,798,687 | |
Commercial Services & Supplies 0.3% | ||
Loomis AB | 17,989 | 589,094 |
Securitas AB | 12,573 | 214,023 |
Total | 803,117 | |
Construction & Engineering 0.1% | ||
Hochtief AG(b) | 1,585 | 148,627 |
Skanska AB, Class B | 4,765 | 129,051 |
SNC-Lavalin Group, Inc. | 1,809 | 40,459 |
Total | 318,137 | |
Electrical Equipment 1.0% | ||
AMETEK, Inc. | 2,812 | 379,423 |
Eaton Corp. PLC | 1,960 | 280,143 |
Fujikura Ltd.(b) | 29,600 | 152,582 |
Prysmian SpA | 4,791 | 149,894 |
Sensata Technologies Holding(b) | 10,221 | 590,160 |
Signify NV(b) | 10,408 | 591,061 |
Vertiv Holdings Co. | 22,944 | 520,829 |
Total | 2,664,092 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Industrial Conglomerates 0.7% | ||
CK Hutchison Holdings Ltd. | 184,500 | 1,507,938 |
DCC PLC | 2,115 | 183,517 |
Rheinmetall AG | 2,785 | 290,584 |
Total | 1,982,039 | |
Machinery 2.7% | ||
Aalberts NV | 914 | 49,380 |
Alfa Laval AB | 249 | 8,409 |
Allison Transmission Holdings, Inc. | 16,987 | 704,451 |
Altra Industrial Motion Corp. | 9,465 | 558,530 |
Bucher Industries AG | 141 | 73,999 |
Caterpillar, Inc.(a) | 2,107 | 480,628 |
CNH Industrial NV | 14,213 | 210,986 |
Cummins, Inc.(a) | 6,377 | 1,607,259 |
Deere & Co. | 892 | 330,798 |
Dover Corp. | 2,377 | 354,625 |
Duerr AG | 266 | 11,147 |
GEA Group AG | 3,828 | 168,105 |
Georg Fischer AG, Registered Shares | 21 | 29,446 |
ITT, Inc. | 1,377 | 129,865 |
Knorr-Bremse AG | 943 | 115,589 |
KONE OYJ, Class B | 1,945 | 152,765 |
Metso Outotec OYJ | 1,308 | 14,694 |
Middleby Corp. (The)(b) | 1,407 | 255,117 |
OC Oerlikon Corp AG | 6,134 | 71,736 |
Oshkosh Corp. | 3,548 | 441,478 |
Parker-Hannifin Corp. | 1,024 | 321,341 |
SKF AB, Class B | 5,584 | 144,267 |
Sulzer AG, Registered Shares | 461 | 52,520 |
Trelleborg AB, Class B | 8,915 | 231,931 |
Valmet OYJ | 5,569 | 232,602 |
Volvo AB, B Shares | 12,754 | 311,460 |
Wartsila OYJ | 11,221 | 144,806 |
Yangzijiang Shipbuilding Holdings Ltd. | 226,800 | 243,394 |
Total | 7,451,328 | |
Marine 0.2% | ||
AP Moller - Maersk A/S, Class B | 214 | 532,353 |
16 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Professional Services 3.1% | ||
Adecco Group AG, Registered Shares | 17,934 | 1,215,559 |
ASGN, Inc.(b) | 10,294 | 1,082,723 |
Booz Allen Hamilton Holdings Corp.(a) | 7,495 | 621,710 |
DKSH Holding AG | 2,126 | 171,088 |
FTI Consulting, Inc.(b) | 2,382 | 330,741 |
Huron Consulting Group, Inc.(b) | 10,312 | 580,153 |
Leidos Holdings, Inc. | 5,673 | 574,562 |
Randstad NV | 9,459 | 682,488 |
Robert Half International, Inc.(a) | 24,611 | 2,156,170 |
Science Applications International Corp. | 8,727 | 780,368 |
Stantec, Inc. | 1,760 | 82,405 |
Teleperformance SA | 1,122 | 433,254 |
Total | 8,711,221 | |
Road & Rail 2.2% | ||
AMERCO(a) | 2,003 | 1,195,050 |
Aurizon Holdings Ltd. | 309,644 | 890,836 |
ComfortDelGro Corp., Ltd. | 101,100 | 130,448 |
Knight-Swift Transportation Holdings, Inc.(a) | 16,813 | 792,228 |
Nippon Express Co., Ltd. | 18,300 | 1,400,569 |
Schneider National, Inc., Class B(a) | 12,203 | 295,679 |
Senko Group Holdings Co., Ltd. | 15,500 | 142,717 |
TFI International, Inc. | 7,740 | 678,191 |
Union Pacific Corp. | 3,229 | 717,128 |
Total | 6,242,846 | |
Trading Companies & Distributors 0.5% | ||
Brenntag SE | 3,730 | 334,860 |
Finning International, Inc. | 4,760 | 123,884 |
Marubeni Corp. | 65,500 | 545,565 |
WESCO International, Inc.(b) | 5,341 | 489,877 |
Total | 1,494,186 | |
Transportation Infrastructure 0.0% | ||
Atlantia SpA(b) | 3,589 | 69,968 |
Total Industrials | 42,800,491 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Information Technology 11.2% | ||
Communications Equipment 0.5% | ||
Cisco Systems, Inc. | 17,372 | 884,409 |
InterDigital, Inc. | 3,777 | 262,199 |
Telefonaktiebolaget LM Ericsson, Class B | 12,142 | 166,760 |
Total | 1,313,368 | |
Electronic Equipment, Instruments & Components 1.2% | ||
Arrow Electronics, Inc.(a),(b) | 16,015 | 1,826,831 |
Dexerials Corp. | 6,100 | 112,418 |
Flex Ltd.(a),(b) | 24,571 | 427,535 |
Jabil, Inc. | 14,540 | 762,187 |
Macnica Fuji Electronics Holdings, Inc. | 12,700 | 255,888 |
Total | 3,384,859 | |
IT Services 2.0% | ||
Amdocs Ltd. | 6,038 | 463,356 |
AtoS(b) | 17,203 | 1,171,519 |
Bechtle AG | 3,137 | 638,779 |
Capgemini SE | 3,299 | 604,532 |
CGI, Inc.(b) | 672 | 59,456 |
Concentrix Corp.(b) | 4,472 | 694,859 |
Fidelity National Information Services, Inc. | 1,757 | 268,645 |
Western Union Co. (The)(a) | 65,133 | 1,677,826 |
Total | 5,578,972 | |
Semiconductors & Semiconductor Equipment 2.1% | ||
ams AG(b) | 5,229 | 90,662 |
Applied Materials, Inc. | 7,534 | 999,837 |
ASM International NV | 1,016 | 308,231 |
ASML Holding NV | 52 | 33,755 |
Broadcom, Inc. | 1,215 | 554,283 |
KLA Corp. | 1,426 | 449,689 |
Micron Technology, Inc.(b) | 22,577 | 1,943,203 |
NXP Semiconductors NV | 2,672 | 514,387 |
ON Semiconductor Corp.(b) | 7,952 | 310,128 |
Qorvo, Inc.(b) | 3,359 | 632,063 |
Total | 5,836,238 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 17 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Software 2.8% | ||
Check Point Software Technologies Ltd.(a),(b) | 13,858 | 1,618,753 |
Constellation Software, Inc. | 1,100 | 1,614,386 |
Microsoft Corp.(a) | 8,058 | 2,032,067 |
NortonLifeLock, Inc.(a) | 36,169 | 781,612 |
Open Text Corp. | 973 | 45,818 |
Oracle Corp.(a) | 7,132 | 540,534 |
Software AG | 3,546 | 153,595 |
SS&C Technologies Holdings, Inc. | 9,780 | 725,872 |
Zoom Video Communications, Inc., Class A(a),(b) | 845 | 270,037 |
Total | 7,782,674 | |
Technology Hardware, Storage & Peripherals 2.6% | ||
Apple, Inc.(a) | 10,284 | 1,351,935 |
HP, Inc.(a) | 56,633 | 1,931,752 |
Logitech International SA | 18,917 | 2,105,545 |
NetApp, Inc. | 8,057 | 601,777 |
Seiko Epson Corp. | 50,200 | 856,492 |
Western Digital Corp.(b) | 7,651 | 540,390 |
Total | 7,387,891 | |
Total Information Technology | 31,284,002 | |
Materials 6.4% | ||
Chemicals 3.1% | ||
Celanese Corp., Class A(a) | 9,893 | 1,549,739 |
Corteva, Inc. | 6,564 | 320,061 |
Covestro AG | 22,741 | 1,487,249 |
DuPont de Nemours, Inc. | 12,799 | 986,931 |
Evonik Industries AG | 1,533 | 53,669 |
FMC Corp. | 6,081 | 719,017 |
Hexpol AB | 1,986 | 24,349 |
Ingevity Corp.(b) | 3,392 | 264,847 |
LANXESS AG | 2,711 | 199,509 |
Linde PLC | 1,034 | 295,559 |
Methanex Corp. | 373 | 13,619 |
Mosaic Co. (The) | 16,499 | 580,435 |
PPG Industries, Inc. | 2,028 | 347,275 |
Solvay SA | 1,637 | 208,165 |
Tronox Holdings PLC, Class A | 15,352 | 325,462 |
Valvoline, Inc. | 15,405 | 483,717 |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Wacker Chemie AG | 1,192 | 179,777 |
Yara International ASA | 8,358 | 435,971 |
Total | 8,475,351 | |
Construction Materials 0.3% | ||
Buzzi Unicem SpA | 17,485 | 466,533 |
HeidelbergCement AG | 1,366 | 125,171 |
LafargeHolcim Ltd., Registered Shares(b) | 5,595 | 345,255 |
Total | 936,959 | |
Containers & Packaging 1.0% | ||
Avery Dennison Corp. | 1,643 | 351,881 |
Crown Holdings, Inc. | 2,568 | 281,966 |
Huhtamaki OYJ | 3,561 | 168,938 |
International Paper Co.(a) | 31,481 | 1,825,898 |
WestRock Co. | 4,793 | 267,210 |
Total | 2,895,893 | |
Metals & Mining 1.3% | ||
Agnico Eagle Mines Ltd. | 1,054 | 65,873 |
Alamos Gold, Inc., Class A | 9,690 | 77,653 |
Aperam SA | 1,269 | 65,680 |
ArcelorMittal SA(b) | 143 | 4,157 |
Aurubis AG | 3,486 | 299,669 |
Barrick Gold Corp. | 5,930 | 126,353 |
Boliden AB | 3,025 | 117,665 |
Centerra Gold, Inc. | 25,041 | 231,026 |
Endeavour Mining Corp. | 4,215 | 87,753 |
Kinross Gold Corp. | 37,930 | 266,928 |
Lundin Mining Corp. | 1,522 | 18,388 |
Norsk Hydro ASA | 29,170 | 185,748 |
Rio Tinto Ltd. | 18,663 | 1,734,631 |
SSAB AB, Class A(b) | 14,907 | 80,689 |
SSR Mining, Inc. | 2,065 | 32,777 |
Teck Resources Ltd., Class B | 2,321 | 49,115 |
ThyssenKrupp AG(b) | 1,519 | 20,307 |
Yamana Gold, Inc. | 40,892 | 187,302 |
Total | 3,651,714 |
18 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Paper & Forest Products 0.7% | ||
Interfor Corp.(b) | 6,700 | 178,082 |
Stora Enso OYJ, Class R | 2,676 | 51,198 |
UPM-Kymmene OYJ | 4,176 | 163,311 |
West Fraser Timber Co., Ltd. | 19,097 | 1,474,438 |
Total | 1,867,029 | |
Total Materials | 17,826,946 | |
Real Estate 0.2% | ||
Equity Real Estate Investment Trusts (REITS) 0.2% | ||
Host Hotels & Resorts, Inc.(b) | 19,514 | 354,374 |
Klepierre | 8,221 | 218,195 |
Total | 572,569 | |
Total Real Estate | 572,569 | |
Utilities 0.6% | ||
Electric Utilities 0.1% | ||
BKW AG | 896 | 100,346 |
Fortum OYJ | 5,232 | 137,491 |
Hydro One Ltd. | 840 | 20,140 |
Total | 257,977 | |
Gas Utilities 0.1% | ||
Italgas SpA | 25,494 | 166,268 |
Independent Power and Renewable Electricity Producers 0.1% | ||
Uniper SE | 5,652 | 206,231 |
Multi-Utilities 0.3% | ||
A2A SpA | 116,842 | 228,540 |
Atco Ltd., Class I | 3,079 | 105,685 |
CenterPoint Energy, Inc. | 8,909 | 218,181 |
Hera | 53,468 | 215,158 |
RWE AG | 2,990 | 113,536 |
Total | 881,100 | |
Total Utilities | 1,511,576 | |
Total Common Stocks (Cost $175,409,361) | 226,203,689 |
Preferred Stocks 0.1% | |||
Issuer | Shares | Value ($) | |
Consumer Discretionary 0.1% | |||
Automobiles 0.1% | |||
Volkswagen AG | 1,027 | 267,389 | |
Total Consumer Discretionary | 267,389 | ||
Consumer Staples 0.0% | |||
Household Products 0.0% | |||
Henkel AG & Co. KGaA | 569 | 65,361 | |
Total Consumer Staples | 65,361 | ||
Total Preferred Stocks (Cost $244,445) | 332,750 |
Rights 0.0% | ||
Issuer | Shares | Value ($) |
Financials 0.0% | ||
Capital Markets 0.0% | ||
Credit Suisse Group AG(b) | 37,136 | 1,596 |
Total Financials | 1,596 | |
Total Rights (Cost $—) | 1,596 | |
Money Market Funds 7.9% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 0.054%(c),(d) | 22,003,167 | 22,000,966 |
Total Money Market Funds (Cost $21,997,456) | 22,000,966 | |
Total Investments (Cost $197,651,262) | 248,539,001 | |
Investments in Securities Sold Short | ||
Common Stocks (35.1)% | ||
Issuer | Shares | Value ($) |
Communication Services (1.4)% | ||
Diversified Telecommunication Services (0.5)% | ||
Deutsche Telekom AG, Registered Shares | (4,105) | (79,001) |
Elisa OYJ | (3,049) | (172,840) |
Infrastrutture Wireless Italiane SpA | (28,013) | (326,841) |
Koninklijke KPN NV | (114,212) | (393,988) |
Telia Co. AB | (90,905) | (376,695) |
United Internet AG, Registered Shares | (2,941) | (123,692) |
Total | (1,473,057) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 19 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Entertainment (0.2)% | ||
CTS Eventim AG & Co. KGaA(b) | (2,341) | (161,576) |
Lions Gate Entertainment Corp.(b) | (13,058) | (188,950) |
Spotify Technology SA(b) | (1,059) | (266,995) |
Total | (617,521) | |
Interactive Media & Services (0.2)% | ||
Adevinta ASA(b) | (7,374) | (134,949) |
Twitter, Inc.(b) | (5,224) | (288,469) |
Total | (423,418) | |
Media (0.5)% | ||
Dentsu, Inc. | (7,600) | (234,564) |
JCDecaux SA(b) | (13,811) | (351,607) |
Pearson PLC | (23,195) | (266,094) |
Schibsted ASA, Class A(b) | (2,760) | (138,701) |
Stroeer SE & Co. KGaA | (955) | (81,388) |
ViacomCBS, Inc., Class B | (5,242) | (215,027) |
Total | (1,287,381) | |
Wireless Telecommunication Services (0.0)% | ||
Millicom International Cellular SA, SDR(b) | (1,673) | (66,115) |
Total Communication Services | (3,867,492) | |
Consumer Discretionary (3.4)% | ||
Auto Components (0.0)% | ||
Freni Brembo SpA(b) | (5,288) | (65,811) |
Automobiles (0.3)% | ||
Ferrari NV | (2,273) | (486,915) |
Tesla, Inc.(b) | (476) | (337,694) |
Total | (824,609) | |
Diversified Consumer Services (0.1)% | ||
WW International, Inc.(b) | (4,594) | (127,437) |
Hotels, Restaurants & Leisure (0.8)% | ||
Choice Hotels International, Inc.(b) | (4,207) | (478,757) |
Domino’s Pizza Group PLC | (36,758) | (193,937) |
Papa John’s International, Inc. | (2,378) | (230,000) |
Restaurant Brands International, Inc. | (5,712) | (392,263) |
Royal Caribbean Cruises Ltd.(b) | (2,370) | (206,071) |
Shake Shack, Inc., Class A(b) | (586) | (63,728) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Vail Resorts, Inc.(b) | (959) | (311,828) |
Whitbread PLC(b) | (7,691) | (344,813) |
Total | (2,221,397) | |
Household Durables (0.4)% | ||
LGI Homes, Inc.(b) | (4,564) | (756,620) |
Purple Innovation, Inc.(b) | (12,743) | (434,281) |
Total | (1,190,901) | |
Internet & Direct Marketing Retail (0.3)% | ||
Delivery Hero SE(b) | (2,786) | (441,974) |
Just Eat Takeaway.com NV(b) | (1,971) | (203,650) |
Prosus NV(b) | (948) | (102,888) |
Stitch Fix, Inc., Class A(b) | (2,949) | (127,751) |
Zalando SE(b) | (570) | (59,279) |
Total | (935,542) | |
Multiline Retail (0.1)% | ||
Dollarama, Inc. | (2,048) | (95,439) |
Ollie’s Bargain Outlet Holdings, Inc.(b) | (700) | (64,589) |
Total | (160,028) | |
Specialty Retail (1.1)% | ||
CarMax, Inc.(b) | (2,316) | (308,584) |
Carvana Co.(b) | (5,156) | (1,470,800) |
Dufry AG, Registered Shares(b) | (9,226) | (607,151) |
Floor & Decor Holdings, Inc., Class A(b) | (1,950) | (216,294) |
RH(b) | (386) | (265,576) |
Shift Technologies, Inc.(b) | (34,811) | (293,457) |
Total | (3,161,862) | |
Textiles, Apparel & Luxury Goods (0.3)% | ||
Adidas AG(b) | (628) | (193,965) |
Canada Goose Holdings, Inc.(b) | (2,810) | (118,742) |
Gildan Activewear, Inc.(b) | (1,091) | (37,865) |
Moncler SpA(b) | (2,318) | (142,071) |
Puma SE(b) | (1,178) | (124,188) |
Salvatore Ferragamo SpA(b) | (4,330) | (92,706) |
Total | (709,537) | |
Total Consumer Discretionary | (9,397,124) |
20 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Consumer Staples (2.4)% | ||
Beverages (0.6)% | ||
Anheuser-Busch InBev SA/NV | (3,134) | (221,989) |
Davide Campari-Milano NV | (20,670) | (243,914) |
Fevertree Drinks PLC | (11,216) | (388,486) |
Heineken NV | (5,963) | (691,705) |
Total | (1,546,094) | |
Food & Staples Retailing (0.1)% | ||
Axfood AB | (571) | (14,289) |
Grocery Outlet Holding, Corp.(b) | (5,269) | (212,815) |
Kesko OYJ, Class B | (1,009) | (30,724) |
Total | (257,828) | |
Food Products (1.1)% | ||
AAK AB | (818) | (18,733) |
Bakkafrost P/F | (2,086) | (165,265) |
Barry Callebaut AG, Registered Shares | (11) | (24,287) |
Beyond Meat, Inc.(b) | (2,552) | (336,047) |
Cal-Maine Foods, Inc. | (8,339) | (311,545) |
Campbell Soup Co. | (6,434) | (307,224) |
Chocoladefabriken Lindt & Spruengli AG(b) | (26) | (241,139) |
Hormel Foods Corp. | (6,722) | (310,556) |
Kellogg Co. | (7,067) | (441,122) |
Maple Leaf Foods, Inc. | (765) | (17,657) |
Mowi ASA | (11,754) | (289,973) |
Nestlé SA, Registered Shares | (2,597) | (309,902) |
Premium Brands Holdings Corp. | (932) | (90,664) |
Salmar ASA | (774) | (53,563) |
Saputo, Inc. | (2,209) | (70,198) |
Wilmar International Ltd. | (5,600) | (21,916) |
Total | (3,009,791) | |
Household Products (0.2)% | ||
Essity AB, Class B | (8,348) | (272,462) |
Kimberly-Clark Corp. | (3,178) | (423,691) |
Total | (696,153) | |
Personal Products (0.3)% | ||
Beiersdorf AG | (4,084) | (460,963) |
Kose Corp. | (2,000) | (301,071) |
Total | (762,034) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Tobacco (0.1)% | ||
Japan Tobacco, Inc. | (8,600) | (161,324) |
Swedish Match AB | (2,129) | (174,290) |
Total | (335,614) | |
Total Consumer Staples | (6,607,514) | |
Energy (2.7)% | ||
Energy Equipment & Services (0.2)% | ||
Saipem SpA | (110,568) | (254,938) |
SBM Offshore NV | (4,862) | (84,398) |
Tenaris SA | (14,167) | (151,912) |
Total | (491,248) | |
Oil, Gas & Consumable Fuels (2.5)% | ||
Cameco Corp. | (58,970) | (991,189) |
Enbridge, Inc. | (1,989) | (76,718) |
Eni SpA | (11,440) | (136,261) |
Hess Corp. | (5,209) | (388,123) |
Inter Pipeline Ltd. | (4,817) | (70,228) |
Keyera Corp. | (42,400) | (969,665) |
Koninklijke Vopak NV | (495) | (22,665) |
Neste OYJ | (16,015) | (968,439) |
Occidental Petroleum Corp. | (9,546) | (242,087) |
ONEOK, Inc. | (15,411) | (806,612) |
Pembina Pipeline Corp. | (29,115) | (898,689) |
Statoil ASA | (1,594) | (32,187) |
TC Energy Corp. | (1,046) | (51,749) |
Williams Companies, Inc. (The) | (58,636) | (1,428,373) |
Total | (7,082,985) | |
Total Energy | (7,574,233) | |
Financials (6.4)% | ||
Banks (2.8)% | ||
Bank of Hawaii Corp. | (5,614) | (510,256) |
Commerce Bancshares, Inc. | (7,106) | (552,918) |
Commonwealth Bank of Australia | (6,605) | (452,156) |
Community Bank System, Inc. | (6,583) | (511,038) |
Cullen/Frost Bankers, Inc. | (4,642) | (557,318) |
CVB Financial Corp. | (20,707) | (439,195) |
FinecoBank Banca Fineco SpA(b) | (29,602) | (509,149) |
First Financial Bankshares, Inc. | (11,252) | (552,248) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 21 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Glacier Bancorp, Inc. | (6,806) | (401,214) |
Hang Seng Bank Ltd. | (25,300) | (495,300) |
HSBC Holdings PLC | (57,833) | (361,093) |
Independent Bank Corp. | (3,163) | (259,050) |
Intesa Sanpaolo SpA(b) | (38,728) | (107,970) |
Mediobanca Banca di Credito Finanziario SpA(b) | (26,117) | (294,979) |
National Bank of Canada | (790) | (57,433) |
Royal Bank of Canada | (750) | (71,580) |
Skandinaviska Enskilda Banken AB, Class A | (29,731) | (380,948) |
Swedbank AB, Class A | (9,320) | (163,614) |
Trustmark Corp. | (7,370) | (238,862) |
United Bankshares, Inc. | (11,368) | (446,421) |
Westamerica Bancorporation | (7,824) | (496,042) |
Total | (7,858,784) | |
Capital Markets (1.1)% | ||
Brookfield Asset Management, Inc., Class A | (5,683) | (259,056) |
Credit Suisse Group AG, Registered Shares | (45,652) | (478,432) |
Deutsche Bank AG(b) | (32,780) | (456,667) |
EQT AB | (14,301) | (481,979) |
Franklin Resources, Inc. | (4,833) | (144,990) |
Hamilton Lane, Inc., Class A | (3,681) | (332,946) |
Partners Group Holding AG | (180) | (256,404) |
TMX Group Ltd. | (1,422) | (156,702) |
WisdomTree Investments, Inc. | (78,282) | (531,143) |
Total | (3,098,319) | |
Consumer Finance (0.4)% | ||
Credit Acceptance Corp.(b) | (1,272) | (502,173) |
Credit Corp. Group Ltd. | (6,168) | (137,249) |
Zip Co., Ltd.(b) | (74,314) | (456,676) |
Total | (1,096,098) | |
Diversified Financial Services (0.1)% | ||
Element Fleet Management Corp. | (11,192) | (137,037) |
Insurance (2.0)% | ||
Aegon NV | (27,999) | (129,757) |
Allianz SE | (175) | (45,433) |
eHealth, Inc.(b) | (1,120) | (79,229) |
Gjensidige Forsikring ASA | (7,146) | (162,279) |
GoHealth, Inc., Class A(b) | (10,769) | (128,474) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Hannover Rueck SE | (935) | (172,658) |
Intact Financial Corp. | (901) | (119,762) |
Japan Post Holdings Co., Ltd.(b) | (203,700) | (1,711,783) |
Muenchener Rueckversicherungs-Gesellschaft AG, Registered Shares | (732) | (211,500) |
Oscar Health, Inc., Class A(b) | (3,723) | (84,624) |
Prudential PLC | (53,300) | (1,128,589) |
RLI Corp. | (3,002) | (334,603) |
Sampo OYJ | (10,304) | (488,767) |
Swiss Re AG | (1,625) | (150,867) |
Tryg A/S | (18,803) | (429,966) |
Zurich Insurance Group AG | (422) | (173,129) |
Total | (5,551,420) | |
Total Financials | (17,741,658) | |
Health Care (5.6)% | ||
Biotechnology (2.6)% | ||
Adverum Biotechnologies, Inc.(b) | (29,943) | (116,778) |
Agenus, Inc.(b) | (94,660) | (292,499) |
Allogene Therapeutics, Inc.(b) | (4,476) | (138,398) |
Alnylam Pharmaceuticals, Inc.(b) | (3,166) | (445,266) |
Applied Therapeutics, Inc.(b) | (16,023) | (296,746) |
Argenx SE(b) | (1,331) | (382,472) |
Avacta Group PLC(b) | (99,718) | (366,323) |
Avidity Biosciences, Inc.(b) | (9,382) | (219,914) |
BioNTech SE, ADR(b) | (438) | (82,467) |
Bioxcel Therapeutics, Inc.(b) | (5,711) | (194,003) |
Cortexyme, Inc.(b) | (672) | (26,322) |
Epizyme, Inc.(b) | (15,212) | (118,806) |
Exact Sciences Corp.(b) | (6,692) | (882,139) |
Galapagos NV(b) | (3,478) | (270,780) |
Galapagos NV, ADR(b) | (9,679) | (752,736) |
Global Blood Therapeutics, Inc.(b) | (2,044) | (83,354) |
Homology Medicines, Inc.(b) | (23,078) | (156,238) |
Idorsia Ltd.(b) | (15,352) | (398,082) |
IGM Biosciences, Inc.(b) | (3,862) | (273,121) |
Karuna Therapeutics, Inc.(b) | (2,968) | (329,478) |
Mersana Therapeutics, Inc.(b) | (21,961) | (349,839) |
Moderna, Inc.(b) | (388) | (69,382) |
MorphoSys AG(b) | (231) | (21,810) |
22 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
RAPT Therapeutics, Inc.(b) | (8,224) | (180,434) |
Rubius Therapeutics, Inc.(b) | (4,055) | (101,456) |
Sage Therapeutics, Inc.(b) | (2,304) | (181,463) |
Seres Therapeutics, Inc.(b) | (14,148) | (294,420) |
Viking Therapeutics, Inc.(b) | (44,440) | (283,972) |
Total | (7,308,698) | |
Health Care Equipment & Supplies (0.9)% | ||
Alcon, Inc. | (2,992) | (224,731) |
Ambu A/S | (10,416) | (582,991) |
Carl Zeiss Meditec AG | (1,919) | (338,073) |
Elekta AB, Class B | (5,654) | (75,610) |
Glaukos Corp.(b) | (2,191) | (206,305) |
Quidel Corp.(b) | (1,228) | (128,682) |
Siemens Healthineers AG | (6,438) | (367,909) |
SmileDirectClub, Inc.(b) | (11,802) | (125,514) |
Straumann Holding AG, Registered Shares | (341) | (487,348) |
Total | (2,537,163) | |
Health Care Providers & Services (0.4)% | ||
Alignment Healthcare, Inc.(b) | (6,126) | (162,584) |
Amplifon SpA(b) | (6,143) | (259,267) |
Clover Health Investments Corp.(b) | (12,248) | (120,643) |
Guardant Health, Inc.(b) | (3,412) | (542,440) |
Total | (1,084,934) | |
Health Care Technology (0.4)% | ||
American Well Corp., Class A(b) | (4,791) | (73,733) |
CompuGroup Medical SE & Co KgaA | (1,057) | (96,737) |
GoodRx Holdings, Inc., Class A(b) | (3,410) | (136,434) |
Inovalon Holdings, Inc.(b) | (12,655) | (382,308) |
Teladoc Health, Inc.(b) | (1,497) | (258,008) |
Total | (947,220) | |
Life Sciences Tools & Services (0.5)% | ||
10X Genomics, Inc., Class A(b) | (3,370) | (666,586) |
Bachem Holding AG, Registered B Shares | (106) | (53,814) |
Compugen Ltd.(b) | (43,703) | (377,157) |
Evotec SE(b) | (6,574) | (273,456) |
Lonza Group AG, Registered Shares | (205) | (130,321) |
Total | (1,501,334) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Pharmaceuticals (0.8)% | ||
Aphria, Inc.(b) | (2,098) | (32,226) |
Bausch Health Companies, Inc.(b) | (11,290) | (363,459) |
Canopy Growth Corp.(b) | (5,814) | (156,803) |
Cronos Group, Inc.(b) | (16,500) | (134,642) |
Cymabay Therapeutics, Inc.(b) | (57,299) | (248,105) |
Hisamitsu Pharmaceutical Co., Inc. | (3,900) | (227,507) |
Merck KGaA | (439) | (77,125) |
Nippon Shinyaku Co., Ltd. | (2,400) | (161,888) |
Provention Bio, Inc.(b) | (22,743) | (163,522) |
Recordati Industria Chimica e Farmaceutica SpA | (1,772) | (97,635) |
Relmada Therapeutics, Inc.(b) | (2,602) | (100,333) |
Revance Therapeutics, Inc.(b) | (3,233) | (94,145) |
Royalty Pharma PLC, Class A | (3,679) | (161,876) |
Vifor Pharma AG | (599) | (86,330) |
Total | (2,105,596) | |
Total Health Care | (15,484,945) | |
Industrials (4.9)% | ||
Aerospace & Defense (0.5)% | ||
Airbus Group SE(b) | (4,141) | (497,996) |
Boeing Co. (The)(b) | (1,037) | (242,980) |
CAE, Inc.(b) | (1,938) | (60,703) |
Elbit Systems Ltd. | (1,881) | (257,962) |
Leonardo SpA | (18,239) | (148,842) |
MTU Aero Engines AG | (1,064) | (268,508) |
Total | (1,476,991) | |
Air Freight & Logistics (0.2)% | ||
Cargojet, Inc. | (3,078) | (453,230) |
DSV PANALPINA A/S | (575) | (128,104) |
Total | (581,334) | |
Airlines (0.6)% | ||
Air Canada(b) | (15,793) | (318,263) |
American Airlines Group, Inc.(b) | (16,878) | (366,590) |
Deutsche Lufthansa AG, Registered Shares(b) | (36,307) | (469,028) |
Singapore Airlines Ltd.(b) | (8,900) | (33,730) |
Spirit Airlines, Inc.(b) | (9,828) | (352,039) |
Total | (1,539,650) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 23 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Building Products (0.7)% | ||
AO Smith Corp. | (2,428) | (164,497) |
ASSA ABLOY AB, Class B | (559) | (15,937) |
Belimo Holding AG, Registered Shares | (466) | (185,969) |
Lennox International, Inc. | (1,381) | (463,104) |
Nibe Industrier AB, B Shares | (12,431) | (453,993) |
ROCKWOOL International A/S, Class B | (338) | (151,187) |
Trex Co., Inc.(b) | (5,025) | (542,650) |
Total | (1,977,337) | |
Commercial Services & Supplies (0.2)% | ||
Boyd Group Services, Inc. | (113) | (20,988) |
GFL Environmental, Inc. | (474) | (15,618) |
Healthcare Services Group, Inc. | (5,845) | (175,058) |
ISS A/S(b) | (5,399) | (102,375) |
Ritchie Bros. Auctioneers, Inc. | (609) | (38,740) |
Tomra Systems ASA | (3,351) | (167,407) |
Total | (520,186) | |
Construction & Engineering (0.1)% | ||
Sweco AB, Class B | (5,052) | (89,830) |
WSP Global, Inc. | (237) | (24,609) |
Total | (114,439) | |
Electrical Equipment (0.9)% | ||
ABB Ltd., Registered Shares | (4,243) | (137,822) |
Ballard Power Systems, Inc.(b) | (41,005) | (895,395) |
Plug Power, Inc.(b) | (11,012) | (313,952) |
Siemens Energy AG(b) | (179) | (5,987) |
Sunrun, Inc.(b) | (17,107) | (838,243) |
Varta AG(b) | (1,641) | (238,667) |
Vestas Wind Systems A/S | (2,700) | (112,707) |
Total | (2,542,773) | |
Industrial Conglomerates (0.1)% | ||
Keppel Corp., Ltd. | (21,700) | (88,161) |
Lifco AB | (845) | (90,493) |
Siemens AG, Registered Shares | (1,184) | (197,533) |
Total | (376,187) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Machinery (1.1)% | ||
Atlas Copco AB, Class A | (5,681) | (344,496) |
Chart Industries, Inc.(b) | (1,395) | (224,079) |
Enerpac Tool Group Corp. | (13,882) | (369,261) |
Epiroc AB, Class A | (5,098) | (110,308) |
Kennametal, Inc. | (5,169) | (207,587) |
KION Group AG | (112) | (11,161) |
Metso OYJ | (29,121) | (423,706) |
Miura Co., Ltd. | (4,200) | (220,330) |
Proto Labs, Inc.(b) | (2,496) | (279,702) |
Rational AG | (371) | (308,619) |
Schindler Holding AG | (184) | (52,360) |
Stadler Rail AG | (4,175) | (209,013) |
VAT Group AG | (717) | (204,750) |
Total | (2,965,372) | |
Marine (0.0)% | ||
Kuehne + Nagel International AG, Registered Shares | (88) | (26,312) |
Professional Services (0.1)% | ||
Dun & Bradstreet Holdings, Inc.(b) | (12,072) | (286,831) |
Thomson Reuters Corp. | (469) | (43,495) |
Wolters Kluwer NV | (482) | (43,597) |
Total | (373,923) | |
Road & Rail (0.1)% | ||
Canadian Pacific Railway Ltd. | (37) | (13,808) |
Central Japan Railway Co. | (1,400) | (205,117) |
Keio Corp. | (2,100) | (136,705) |
Total | (355,630) | |
Trading Companies & Distributors (0.1)% | ||
IMCD NV | (1,035) | (150,333) |
Indutrade AB | (5,052) | (131,936) |
Toromont Industries Ltd. | (11) | (877) |
Total | (283,146) |
24 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Transportation Infrastructure (0.2)% | ||
Aeroports de Paris(b) | (1,380) | (176,892) |
Flughafen Zurich AG(b) | (122) | (21,946) |
Fraport AG Frankfurt Airport Services Worldwide(b) | (3,548) | (235,325) |
SATS Ltd(b) | (12,400) | (37,725) |
Total | (471,888) | |
Total Industrials | (13,605,168) | |
Information Technology (3.5)% | ||
Communications Equipment (0.1)% | ||
Calix, Inc.(b) | (5,763) | (243,717) |
Nokia OYJ(b) | (29,082) | (137,760) |
Total | (381,477) | |
Electronic Equipment, Instruments & Components (0.5)% | ||
Adyen NV(b) | (50) | (123,055) |
Cognex Corp. | (2,328) | (200,487) |
Hexagon AB, Class B | (675) | (64,475) |
Hirose Electric Co., Ltd. | (1,700) | (270,992) |
Landis+Gyr Group AG(b) | (2,124) | (147,233) |
Novanta, Inc.(b) | (2,861) | (376,822) |
Velodyne Lidar, Inc.(b) | (20,971) | (288,771) |
Total | (1,471,835) | |
IT Services (1.4)% | ||
Afterpay Touch Group Ltd.(b) | (11,542) | (1,039,535) |
Bechtle AG | (59) | (12,014) |
Jack Henry & Associates, Inc. | (1,608) | (261,831) |
Nexi SpA(b) | (33,918) | (649,712) |
Shopify, Inc., Class A(b) | (195) | (230,589) |
Shopify, Inc., Class A(b) | (94) | (110,959) |
Twilio, Inc.(b) | (1,214) | (446,509) |
Wix.com Ltd.(b) | (3,353) | (1,065,852) |
Total | (3,817,001) | |
Semiconductors & Semiconductor Equipment (0.1)% | ||
Cree, Inc.(b) | (3,584) | (356,321) |
Infineon Technologies AG | (1,228) | (49,244) |
Total | (405,565) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Software (1.3)% | ||
Appian Corp.(b) | (1,927) | (233,514) |
Blackline, Inc.(b) | (3,516) | (408,067) |
Blue Prism Group PLC(b) | (12,405) | (209,019) |
Ceridian HCM Holding, Inc.(b) | (2,895) | (273,520) |
Constellation Software, Inc. | (17) | (24,950) |
Coupa Software, Inc.(b) | (1,216) | (327,153) |
Descartes Systems Group, Inc. (The)(b) | (221) | (14,138) |
Guidewire Software, Inc.(b) | (3,886) | (410,012) |
Kinaxis, Inc.(b) | (348) | (44,886) |
Lightspeed POS, Inc.(b) | (758) | (52,930) |
Nemetschek SE | (2,515) | (187,477) |
Palantir Technologies, Inc., Class A(b) | (8,148) | (187,730) |
Q2 Holdings, Inc.(b) | (3,814) | (396,732) |
SAP SE | (1,442) | (201,910) |
SimCorp A/S | (292) | (38,608) |
Sinch AB(b) | (438) | (68,401) |
TeamViewer AG(b) | (2,315) | (110,038) |
Temenos AG, Registered Shares | (2,321) | (341,233) |
Total | (3,530,318) | |
Technology Hardware, Storage & Peripherals (0.1)% | ||
Canon, Inc. | (12,300) | (292,496) |
Total Information Technology | (9,898,692) | |
Materials (4.0)% | ||
Chemicals (2.1)% | ||
Akzo Nobel NV | (94) | (11,286) |
Albemarle Corp. | (1,263) | (212,399) |
BASF SE | (1,241) | (100,014) |
Christian Hansen Holding A/S(b) | (3,221) | (295,712) |
Ecolab, Inc. | (1,368) | (306,596) |
EMS-Chemie Holding AG, Registered Shares | (198) | (184,875) |
Ferro Corp.(b) | (23,124) | (385,246) |
Givaudan SA, Registered Shares | (43) | (180,177) |
Johnson Matthey PLC | (5,319) | (238,687) |
Koninklijke DSM NV | (1,842) | (330,271) |
Mitsubishi Chemical Holdings Corp. | (59,600) | (443,691) |
Novozymes A/S, Class B | (3,904) | (276,882) |
OCI NV(b) | (4,603) | (107,279) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 25 |
April 30, 2021
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Quaker Chemical Corp. | (864) | (209,390) |
Sika AG | (1,161) | (346,747) |
Stepan Co. | (2,383) | (311,363) |
Symrise AG | (1,588) | (205,066) |
Tokai Carbon Co., Ltd. | (29,500) | (480,057) |
Umicore SA | (13,683) | (831,415) |
Wacker Chemie AG | (1,741) | (262,577) |
Total | (5,719,730) | |
Containers & Packaging (0.4)% | ||
BillerudKorsnas AB | (20,884) | (426,509) |
CCL Industries, Inc., Class B | (520) | (29,517) |
Greif, Inc., Class A | (5,827) | (352,592) |
International Paper Co. | (4,074) | (236,292) |
SIG Combibloc Group AG(b) | (6,639) | (162,729) |
Total | (1,207,639) | |
Metals & Mining (1.2)% | ||
Antofagasta PLC | (14,539) | (374,527) |
Bellevue Gold Ltd.(b) | (107,295) | (76,969) |
Chalice Mining Ltd.(b) | (70,353) | (370,481) |
Cleveland-Cliffs, Inc.(b) | (17,232) | (307,764) |
Compass Minerals International, Inc. | (7,732) | (525,157) |
First Quantum Minerals Ltd. | (168) | (3,872) |
Franco-Nevada Corp. | (3,166) | (440,834) |
Franco-Nevada Corp. | (1,474) | (205,340) |
Fresnillo PLC | (17,189) | (195,458) |
Pan American Silver Corp. | (630) | (20,030) |
United States Steel Corp. | (13,008) | (299,314) |
Wheaton Precious Metals Corp. | (6,317) | (261,018) |
Wheaton Precious Metals Corp. | (3,333) | (138,266) |
Total | (3,219,030) | |
Paper & Forest Products (0.3)% | ||
Holmen AB, B Shares | (2,640) | (124,561) |
Nippon Paper Industries Co., Ltd. | (38,600) | (474,863) |
Svenska Cellulosa AB SCA, Class B | (19,650) | (344,099) |
Total | (943,523) | |
Total Materials | (11,089,922) |
Common Stocks (continued) | ||
Issuer | Shares | Value ($) |
Real Estate (0.3)% | ||
Equity Real Estate Investment Trusts (REITS) (0.2)% | ||
Alexandria Real Estate Equities, Inc. | (1,413) | (255,894) |
EastGroup Properties, Inc. | (1,321) | (209,590) |
Iron Mountain, Inc. | (6,500) | (260,780) |
Total | (726,264) | |
Real Estate Management & Development (0.1)% | ||
CapitaLand Ltd. | (12,200) | (34,010) |
City Developments Ltd. | (6,400) | (37,859) |
KE Holdings, Inc., ADR(b) | (2,586) | (134,601) |
Total | (206,470) | |
Total Real Estate | (932,734) | |
Utilities (0.5)% | ||
Electric Utilities (0.3)% | ||
Elia Group SA/NV | (1,966) | (212,817) |
Emera, Inc. | (2,667) | (121,226) |
Enel SpA | (23,933) | (237,639) |
Ørsted AS | (1,246) | (181,125) |
Terna Rete Elettrica Nazionale SpA | (4,862) | (35,840) |
Total | (788,647) | |
Gas Utilities (0.0)% | ||
AltaGas, Ltd. | (503) | (9,400) |
Snam SpA | (12,130) | (68,256) |
Total | (77,656) | |
Independent Power and Renewable Electricity Producers (0.1)% | ||
Boralex, Inc., Class A | (3,319) | (106,389) |
Innergex Renewable Energy, Inc. | (8,623) | (147,324) |
Northland Power, Inc. | (1,393) | (47,984) |
TransAlta Renewables, Inc. | (1,529) | (24,220) |
Total | (325,917) | |
Multi-Utilities (0.1)% | ||
Algonquin Power & Utilities Corp. | (4,740) | (76,471) |
E.ON SE | (10,777) | (129,948) |
Total | (206,419) | |
Total Utilities | (1,398,639) | |
Total Common Stocks (Proceeds $89,785,376) | (97,598,121) |
26 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Preferred Stocks (0.4)% | |||
Issuer | Shares | Value ($) | |
Consumer Discretionary (0.3)% | |||
Automobiles (0.3)% | |||
Porsche Automobil Holding SE | (8,288) | (873,693) | |
Total Consumer Discretionary | (873,693) | ||
Health Care (0.1)% | |||
Health Care Equipment & Supplies (0.1)% | |||
Sartorius AG | (544) | (306,936) | |
Total Health Care | (306,936) | ||
Materials (0.0)% | |||
Chemicals (0.0)% | |||
Fuchs Petrolub SE | (1,745) | (92,920) | |
Total Materials | (92,920) | ||
Total Preferred Stocks (Proceeds $934,630) | (1,273,549) |
Rights (0.0)% | ||
Issuer | Shares | Value ($) |
Financials (0.0)% | ||
Capital Markets (0.0)% | ||
Credit Suisse Group AG(b) | (45,652) | (1,961) |
Total Financials | (1,961) | |
Total Rights (Proceeds $—) | (1,961) | |
Total Investments in Securities Sold Short (Proceeds $90,720,006) | (98,873,631) | |
Total Investments in Securities, Net of Securities Sold Short | 149,665,370 | |
Other Assets & Liabilities, Net | 128,684,853 | |
Net Assets | 278,350,223 |
Forward foreign currency exchange contracts | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
11,500 AUD | 8,804 USD | Citi | 06/16/2021 | — | (57) |
366,500 CAD | 293,061 USD | Citi | 06/16/2021 | — | (5,141) |
1,000 CHF | 1,119 USD | Citi | 06/16/2021 | 22 | — |
169,000 CHF | 184,078 USD | Citi | 06/16/2021 | — | (1,194) |
6,500 DKK | 1,064 USD | Citi | 06/16/2021 | 12 | — |
118,000 DKK | 18,972 USD | Citi | 06/16/2021 | — | (119) |
1,223,499 EUR | 1,486,840 USD | Citi | 06/16/2021 | 14,555 | — |
270,000 EUR | 320,321 USD | Citi | 06/16/2021 | — | (4,580) |
8,000 GBP | 11,081 USD | Citi | 06/16/2021 | 32 | — |
1,332,000 JPY | 12,085 USD | Citi | 06/16/2021 | — | (107) |
374,000 NOK | 44,398 USD | Citi | 06/16/2021 | — | (535) |
1,500 NZD | 1,088 USD | Citi | 06/16/2021 | 15 | — |
2,336,500 SEK | 278,582 USD | Citi | 06/16/2021 | 2,467 | — |
473,000 SEK | 55,013 USD | Citi | 06/16/2021 | — | (884) |
2,500 SGD | 1,888 USD | Citi | 06/16/2021 | 9 | — |
223,001 SGD | 166,685 USD | Citi | 06/16/2021 | — | (865) |
33,034 USD | 43,500 AUD | Citi | 06/16/2021 | 483 | — |
390,458 USD | 498,005 AUD | Citi | 06/16/2021 | — | (6,742) |
1,378,182 USD | 1,735,005 CAD | Citi | 06/16/2021 | 33,502 | — |
880,090 USD | 814,000 CHF | Citi | 06/16/2021 | 12,284 | — |
469,413 USD | 420,500 CHF | Citi | 06/16/2021 | — | (8,426) |
259,710 USD | 1,622,500 DKK | Citi | 06/16/2021 | 2,800 | — |
289,598 USD | 1,767,500 DKK | Citi | 06/16/2021 | — | (3,628) |
949,737 USD | 797,500 EUR | Citi | 06/16/2021 | 9,926 | — |
2,404,452 USD | 1,978,503 EUR | Citi | 06/16/2021 | — | (23,640) |
72,302 USD | 52,500 GBP | Citi | 06/16/2021 | 211 | — |
810,536 USD | 579,004 GBP | Citi | 06/16/2021 | — | (10,811) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 27 |
April 30, 2021
Forward foreign currency exchange contracts (continued) | |||||
Currency to be sold | Currency to be purchased | Counterparty | Settlement date | Unrealized appreciation ($) | Unrealized depreciation ($) |
13,646 USD | 106,000 HKD | Citi | 06/16/2021 | 2 | — |
183,546 USD | 1,423,000 HKD | Citi | 06/16/2021 | — | (329) |
34,894 USD | 114,502 ILS | Citi | 06/16/2021 | 372 | — |
1,512,927 USD | 160,588,500 JPY | Citi | 06/16/2021 | — | (43,024) |
203,105 USD | 1,724,503 NOK | Citi | 06/16/2021 | 4,081 | — |
42,493 USD | 353,500 NOK | Citi | 06/16/2021 | — | (22) |
1,045 USD | 1,500 NZD | Citi | 06/16/2021 | 29 | — |
15,606 USD | 21,500 NZD | Citi | 06/16/2021 | — | (223) |
306,152 USD | 2,639,500 SEK | Citi | 06/16/2021 | 5,769 | — |
340,312 USD | 2,846,000 SEK | Citi | 06/16/2021 | — | (3,988) |
83,821 USD | 112,002 SGD | Citi | 06/16/2021 | 330 | — |
55,766 USD | 74,002 SGD | Citi | 06/16/2021 | — | (165) |
11,500 AUD | 8,804 USD | JPMorgan | 06/16/2021 | — | (57) |
366,500 CAD | 293,061 USD | JPMorgan | 06/16/2021 | — | (5,141) |
1,000 CHF | 1,119 USD | JPMorgan | 06/16/2021 | 22 | — |
169,000 CHF | 184,078 USD | JPMorgan | 06/16/2021 | — | (1,194) |
6,500 DKK | 1,064 USD | JPMorgan | 06/16/2021 | 12 | — |
118,000 DKK | 18,972 USD | JPMorgan | 06/16/2021 | — | (119) |
1,223,501 EUR | 1,486,841 USD | JPMorgan | 06/16/2021 | 14,554 | — |
270,000 EUR | 320,321 USD | JPMorgan | 06/16/2021 | — | (4,581) |
8,000 GBP | 11,081 USD | JPMorgan | 06/16/2021 | 32 | — |
1,332,000 JPY | 12,085 USD | JPMorgan | 06/16/2021 | — | (107) |
374,000 NOK | 44,398 USD | JPMorgan | 06/16/2021 | — | (536) |
1,500 NZD | 1,088 USD | JPMorgan | 06/16/2021 | 15 | — |
2,336,500 SEK | 278,582 USD | JPMorgan | 06/16/2021 | 2,467 | — |
473,000 SEK | 55,013 USD | JPMorgan | 06/16/2021 | — | (884) |
2,500 SGD | 1,888 USD | JPMorgan | 06/16/2021 | 9 | — |
222,999 SGD | 166,683 USD | JPMorgan | 06/16/2021 | — | (865) |
33,035 USD | 43,500 AUD | JPMorgan | 06/16/2021 | 483 | — |
390,451 USD | 497,995 AUD | JPMorgan | 06/16/2021 | — | (6,742) |
1,378,176 USD | 1,734,995 CAD | JPMorgan | 06/16/2021 | 33,500 | — |
880,091 USD | 814,000 CHF | JPMorgan | 06/16/2021 | 12,283 | — |
469,414 USD | 420,500 CHF | JPMorgan | 06/16/2021 | — | (8,427) |
259,710 USD | 1,622,500 DKK | JPMorgan | 06/16/2021 | 2,800 | — |
289,598 USD | 1,767,500 DKK | JPMorgan | 06/16/2021 | — | (3,628) |
949,738 USD | 797,500 EUR | JPMorgan | 06/16/2021 | 9,925 | — |
2,404,448 USD | 1,978,497 EUR | JPMorgan | 06/16/2021 | — | (23,644) |
72,303 USD | 52,500 GBP | JPMorgan | 06/16/2021 | 211 | — |
810,526 USD | 578,996 GBP | JPMorgan | 06/16/2021 | — | (10,811) |
13,646 USD | 106,000 HKD | JPMorgan | 06/16/2021 | 2 | — |
183,546 USD | 1,423,000 HKD | JPMorgan | 06/16/2021 | — | (330) |
34,893 USD | 114,498 ILS | JPMorgan | 06/16/2021 | 372 | — |
1,512,929 USD | 160,588,500 JPY | JPMorgan | 06/16/2021 | — | (43,027) |
203,104 USD | 1,724,497 NOK | JPMorgan | 06/16/2021 | 4,081 | — |
42,493 USD | 353,500 NOK | JPMorgan | 06/16/2021 | — | (23) |
1,045 USD | 1,500 NZD | JPMorgan | 06/16/2021 | 29 | — |
15,606 USD | 21,500 NZD | JPMorgan | 06/16/2021 | — | (223) |
306,153 USD | 2,639,500 SEK | JPMorgan | 06/16/2021 | 5,769 | — |
340,313 USD | 2,846,000 SEK | JPMorgan | 06/16/2021 | — | (3,988) |
83,819 USD | 111,999 SGD | JPMorgan | 06/16/2021 | 330 | — |
55,762 USD | 73,997 SGD | JPMorgan | 06/16/2021 | — | (165) |
Total | 173,797 | (228,972) |
28 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Long futures contracts | ||||||
Description | Number of contracts | Expiration date | Trading currency | Notional amount | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Amsterdam Index | 5 | 05/2021 | EUR | 704,110 | 239 | — |
CAC40 Index | 15 | 05/2021 | EUR | 932,400 | 16,919 | — |
DAX Index | 2 | 06/2021 | EUR | 758,400 | 35,421 | — |
FTSE 100 Index | 13 | 06/2021 | GBP | 901,875 | 38,710 | — |
FTSE/MIB Index | 2 | 06/2021 | EUR | 239,110 | — | (1,160) |
Hang Seng Index | 1 | 05/2021 | HKD | 1,426,500 | — | (1,802) |
IBEX 35 Index | 4 | 05/2021 | EUR | 352,300 | 15,385 | — |
MSCI Singapore Index | 3 | 05/2021 | SGD | 108,525 | 168 | — |
OMXS30 Index | 18 | 05/2021 | SEK | 3,994,200 | — | (379) |
S&P 500 Index E-mini | 136 | 06/2021 | USD | 28,385,920 | 1,636,769 | — |
S&P/TSX 60 Index | 7 | 06/2021 | CAD | 1,589,560 | 24,800 | — |
SPI 200 Index | 7 | 06/2021 | AUD | 1,225,350 | 31,846 | — |
TOPIX Index | 14 | 06/2021 | JPY | 266,210,000 | 17,659 | — |
Total | 1,817,916 | (3,341) |
Total return swap contracts | ||||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Total return on a portfolio of long and short positions† | 1-Month AUD BBSW, 1-Month HKD HIBOR, or 1-Month JPY BBA LIBOR based on the local currencies of the positions within the swap | Monthly | JPMorgan | 02/07/2022 | USD | 68,403,787 | (86,955) | — | — | — | — | (86,955) |
1-Month USD LIBOR minus 3.000% | Total return on Acer, Inc. | Monthly | Macquarie | 12/21/2021 | USD | 229,071 | 4,188 | (629) | — | — | 3,559 | — |
1-Month USD LIBOR minus 3.000% | Total return on Advantech Ltd. | Monthly | Macquarie | 12/21/2021 | USD | 268,910 | 3,200 | (67) | — | — | 3,133 | — |
1-Month USD LIBOR minus 3.000% | Total return on Acer, Inc. | Monthly | Macquarie | 12/21/2021 | USD | 54,778 | 1,001 | (150) | — | — | 851 | — |
1-Month USD LIBOR minus 3.000% | Total return on Advantech Ltd. | Monthly | Macquarie | 12/21/2021 | USD | 38,416 | 459 | (10) | — | — | 449 | — |
1-Month USD LIBOR minus 1.642%†† | Total return on SillaJen, Inc. | Monthly | Macquarie | 12/21/2021 | USD | 35,745 | 0††† | (98) | — | — | — | (98) |
Total return on Samsung Electronics Co., Ltd. | 1-Month USD LIBOR plus 0.800% | Monthly | Macquarie | 12/21/2021 | USD | 21,572 | (728) | 58 | — | — | — | (670) |
Total return on Samsung Electronics Co., Ltd. | 1-Month USD LIBOR plus 0.800% | Monthly | Macquarie | 12/21/2021 | USD | 47,141 | (1,588) | (12) | — | — | — | (1,600) |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 29 |
April 30, 2021
Total return swap contracts (continued) | ||||||||||||
Fund receives | Fund pays | Payment frequency | Counterparty | Maturity date | Notional currency | Notional amount | Value ($) | Periodic payments receivable (payable) ($) | Upfront payments ($) | Upfront receipts ($) | Unrealized appreciation ($) | Unrealized depreciation ($) |
Total return on Samsung Electronics Co., Ltd. | 1-Month USD LIBOR plus 0.800% | Monthly | Macquarie | 12/21/2021 | USD | 611,327 | (20,590) | 1,661 | — | — | — | (18,929) |
Total return on a portfolio of long and short positions† | 1-Day Overnight Fed Funds Effective Rate, EONIA or SONIA based on the local currencies of the positions within the swap | Monthly | Morgan Stanley International | 10/29/2021 | USD | 185,142,928 | (894,338) | — | — | — | — | (894,338) |
Total | (995,351) | 753 | — | — | 7,992 | (1,002,590) |
† | By investing in the total return swap contract, the Fund gains exposure to the underlying investments that make up the custom basket/index without having to own the underlying investments directly. The components of the custom basket/index are available on Multi-Manager Directional Alternative Strategies Fund’s page of columbiathreadneedleus.com website. |
†† | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At April 30, 2021, the total value of these swap contracts amounted to $0, which represents 0.00% of total net assets. |
††† | Valuation based on significant unobservable inputs. |
Total return swap contracts on futures | ||||||||
Reference instrument* | Counterparty | Expiration date | Trading currency | Notional amount long(short) | Upfront payments ($) | Upfront receipts ($) | Value/Unrealized appreciation ($) | Value/Unrealized depreciation ($) |
Swiss Market Index Jun 21 | Citi | 06/2021 | CHF | 220,160 | — | — | 6,203 | — |
Hang Seng Index May 21 | JPMorgan | 05/2021 | HKD | 1,426,500 | — | — | — | (1,675) |
Swiss Market Index Jun 21 | Morgan Stanley International | 06/2021 | CHF | 880,640 | — | — | — | (14,716) |
Total | — | — | 6,203 | (16,391) |
* | If the notional amount of the swap contract is long and the swap contract’s value is positive (negative), the Fund will receive (pay) the total return. If the notional amount of the swap contract is short and the swap contract’s value is positive (negative), the Fund will pay (receive) the total return. Receipts and payments occur upon termination of the contract. |
Reference index and values for swap contracts as of period end | ||
Reference index | Reference rate | |
1-Day Overnight Fed Funds Effective Rate | Overnight Federal Funds Effective Rate | 0.060% |
1-Month HKD HIBOR | Hong Kong Interbank Offered Rate | 0.090% |
1-Month USD LIBOR | London Interbank Offered Rate | 0.107% |
EONIA index | Euro Overnight Index Average | (0.484%) |
SONIA | Sterling Overnight Index Average | 0.051% |
1-Month AUD BBSW | Bank Bill Swap Rate | 0.020% |
1-Month JPY BBA LIBOR | London Interbank Offered Rate | (0.068%) |
(a) | This security or a portion of this security has been pledged as collateral in connection with investments sold short. |
(b) | Non-income producing investment. |
(c) | The rate shown is the seven-day current annualized yield at April 30, 2021. |
30 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 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 April 30, 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, 0.054% | ||||||||
26,997,662 | 197,012,929 | (202,001,763) | (7,862) | 22,000,966 | 40 | 39,377 | 22,003,167 |
ADR | American Depositary Receipt |
SDR | Swedish Depositary Receipt |
AUD | Australian Dollar |
CAD | Canada Dollar |
CHF | Swiss Franc |
DKK | Danish Krone |
EUR | Euro |
GBP | British Pound |
HKD | Hong Kong Dollar |
ILS | Israeli Shekel |
JPY | Japanese Yen |
NOK | Norwegian Krone |
NZD | New Zealand Dollar |
SEK | Swedish Krona |
SGD | Singapore Dollar |
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). |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 31 |
April 30, 2021
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers and dealers participating in the market for those investments. However, these may be classified as Level 3 investments due to lack of market transparency and corroboration to support these quoted prices. Additionally, valuation models may be used as the pricing source for any remaining investments classified as Level 3. These models may rely on one or more significant unobservable inputs and/or significant assumptions by the Investment Manager. Inputs used in valuations may include, but are not limited to, financial statement analysis, capital account balances, discount rates and estimated cash flows, and comparable company data.
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Investments in Securities | ||||
Common Stocks | ||||
Communication Services | 14,423,486 | 5,428,115 | — | 19,851,601 |
Consumer Discretionary | 22,580,520 | 9,172,606 | — | 31,753,126 |
Consumer Staples | 14,613,347 | 5,410,295 | — | 20,023,642 |
Energy | 12,679,827 | 53,083 | — | 12,732,910 |
Financials | 18,892,507 | 6,845,317 | — | 25,737,824 |
Health Care | 18,285,043 | 3,823,959 | — | 22,109,002 |
Industrials | 27,794,499 | 15,005,992 | — | 42,800,491 |
Information Technology | 24,785,826 | 6,498,176 | — | 31,284,002 |
Materials | 11,409,305 | 6,417,641 | — | 17,826,946 |
Real Estate | 354,374 | 218,195 | — | 572,569 |
Utilities | 344,006 | 1,167,570 | — | 1,511,576 |
Total Common Stocks | 166,162,740 | 60,040,949 | — | 226,203,689 |
Preferred Stocks | ||||
Consumer Discretionary | — | 267,389 | — | 267,389 |
Consumer Staples | — | 65,361 | — | 65,361 |
Total Preferred Stocks | — | 332,750 | — | 332,750 |
Rights | ||||
Financials | — | 1,596 | — | 1,596 |
Total Rights | — | 1,596 | — | 1,596 |
Money Market Funds | 22,000,966 | — | — | 22,000,966 |
Total Investments in Securities | 188,163,706 | 60,375,295 | — | 248,539,001 |
Investments in Securities Sold Short | ||||
Common Stocks | ||||
Communication Services | (959,441) | (2,908,051) | — | (3,867,492) |
Consumer Discretionary | (6,337,776) | (3,059,348) | — | (9,397,124) |
Consumer Staples | (2,521,519) | (4,085,995) | — | (6,607,514) |
Energy | (5,923,433) | (1,650,800) | — | (7,574,233) |
Financials | (7,904,314) | (9,837,344) | — | (17,741,658) |
Health Care | (10,504,736) | (4,980,209) | — | (15,484,945) |
Industrials | (6,712,299) | (6,892,869) | — | (13,605,168) |
Information Technology | (5,955,490) | (3,943,202) | — | (9,898,692) |
Materials | (4,244,990) | (6,844,932) | — | (11,089,922) |
Real Estate | (860,865) | (71,869) | — | (932,734) |
Utilities | (533,014) | (865,625) | — | (1,398,639) |
Total Common Stocks | (52,457,877) | (45,140,244) | — | (97,598,121) |
32 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | |
Preferred Stocks | ||||
Consumer Discretionary | — | (873,693) | — | (873,693) |
Health Care | — | (306,936) | — | (306,936) |
Materials | — | (92,920) | — | (92,920) |
Total Preferred Stocks | — | (1,273,549) | — | (1,273,549) |
Rights | ||||
Financials | — | (1,961) | — | (1,961) |
Total Rights | — | (1,961) | — | (1,961) |
Total Investments in Securities Sold Short | (52,457,877) | (46,415,754) | — | (98,873,631) |
Total Investments in Securities, Net of Securities Sold Short | 135,705,829 | 13,959,541 | — | 149,665,370 |
Investments in Derivatives | ||||
Asset | ||||
Forward Foreign Currency Exchange Contracts | — | 173,797 | — | 173,797 |
Futures Contracts | 1,817,916 | — | — | 1,817,916 |
Swap Contracts | — | 14,195 | — | 14,195 |
Liability | ||||
Forward Foreign Currency Exchange Contracts | — | (228,972) | — | (228,972) |
Futures Contracts | (3,341) | — | — | (3,341) |
Swap Contracts | — | (1,018,883) | (98) | (1,018,981) |
Total | 137,520,404 | 12,899,678 | (98) | 150,419,984 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 33 |
April 30, 2021
Assets | |
Investments in securities, at value | |
Unaffiliated issuers (cost $175,653,806) | $226,538,035 |
Affiliated issuers (cost $21,997,456) | 22,000,966 |
Cash | 54,708 |
Foreign currency (cost $1,899,016) | 1,882,581 |
Cash collateral held at broker for: | |
Forward foreign currency exchange contracts | 250,000 |
Swap contracts | 12,897,135 |
Securities sold short | 107,524,653 |
Other(a) | 4,550,000 |
Margin deposits on: | |
Futures contracts | 2,441,735 |
Unrealized appreciation on forward foreign currency exchange contracts | 173,797 |
Unrealized appreciation on swap contracts | 14,195 |
Receivable for: | |
Investments sold | 2,345,696 |
Capital shares sold | 352,465 |
Dividends | 165,805 |
Foreign tax reclaims | 299,575 |
Variation margin for futures contracts | 2,836 |
Expense reimbursement due from Investment Manager | 2,039 |
Prepaid expenses | 6,697 |
Trustees’ deferred compensation plan | 36,187 |
Total assets | 381,539,105 |
Liabilities | |
Securities sold short, at value (proceeds $90,720,006) | 98,873,631 |
Unrealized depreciation on forward foreign currency exchange contracts | 228,972 |
Unrealized depreciation on swap contracts | 1,018,981 |
Cash collateral due to broker for: | |
Foreign forward currency exchange contracts | 20,000 |
Payable for: | |
Investments purchased | 2,034,807 |
Capital shares purchased | 269,704 |
Dividends and interest on securities sold short | 300,887 |
Variation margin for futures contracts | 244,398 |
Management services fees | 12,275 |
Transfer agent fees | 40,457 |
Compensation of board members | 2,504 |
Compensation of chief compliance officer | 7 |
Other expenses | 106,072 |
Trustees’ deferred compensation plan | 36,187 |
Total liabilities | 103,188,882 |
Net assets applicable to outstanding capital stock | $278,350,223 |
Represented by | |
Paid in capital | 240,544,189 |
Total distributable earnings (loss) | 37,806,034 |
Total - representing net assets applicable to outstanding capital stock | $278,350,223 |
Institutional Class | |
Net assets | $278,350,223 |
Shares outstanding | 38,500,136 |
Net asset value per share | $7.23 |
(a) | Includes collateral related to forward foreign currency exchange contracts and swap contracts. |
34 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
Year Ended April 30, 2021
Net investment income | |
Income: | |
Dividends — unaffiliated issuers | $3,599,245 |
Dividends — affiliated issuers | 39,377 |
Foreign taxes withheld | (212,137) |
Total income | 3,426,485 |
Expenses: | |
Management services fees | 3,897,950 |
Transfer agent fees | |
Institutional Class | 502,264 |
Compensation of board members | 17,799 |
Custodian fees | 367,998 |
Printing and postage fees | 52,321 |
Registration fees | 36,473 |
Audit fees | 53,501 |
Legal fees | 7,814 |
Interest on collateral | 385 |
Dividends and interest on securities sold short | 2,118,944 |
Interest on interfund lending | 47 |
Compensation of chief compliance officer | 75 |
Other | 33,270 |
Total expenses | 7,088,841 |
Fees waived or expenses reimbursed by Investment Manager and its affiliates | (467,358) |
Total net expenses | 6,621,483 |
Net investment loss | (3,194,998) |
Realized and unrealized gain (loss) — net | |
Net realized gain (loss) on: | |
Investments — unaffiliated issuers | 41,452,310 |
Investments — affiliated issuers | 40 |
Foreign currency translations | 347,572 |
Forward foreign currency exchange contracts | 727,503 |
Futures contracts | 12,585,523 |
Securities sold short | (42,942,361) |
Swap contracts | 3,476,474 |
Net realized gain | 15,647,061 |
Net change in unrealized appreciation (depreciation) on: | |
Investments — unaffiliated issuers | 47,762,469 |
Investments — affiliated issuers | (7,862) |
Foreign currency translations | 97,119 |
Forward foreign currency exchange contracts | (25,246) |
Futures contracts | (948,448) |
Securities sold short | (11,040,875) |
Swap contracts | (949,874) |
Net change in unrealized appreciation (depreciation) | 34,887,283 |
Net realized and unrealized gain | 50,534,344 |
Net increase in net assets resulting from operations | $47,339,346 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 35 |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | |
Operations | ||
Net investment loss | $(3,194,998) | $(334,973) |
Net realized gain (loss) | 15,647,061 | (17,415,393) |
Net change in unrealized appreciation (depreciation) | 34,887,283 | (9,948,318) |
Net increase (decrease) in net assets resulting from operations | 47,339,346 | (27,698,684) |
Distributions to shareholders | ||
Net investment income and net realized gains | ||
Class A | — | (3,881) |
Institutional Class | — | (1,969,137) |
Total distributions to shareholders | — | (1,973,018) |
Increase (decrease) in net assets from capital stock activity | 9,851,969 | (1,696,451) |
Total increase (decrease) in net assets | 57,191,315 | (31,368,153) |
Net assets at beginning of year | 221,158,908 | 252,527,061 |
Net assets at end of year | $278,350,223 | $221,158,908 |
Year Ended | Year Ended | |||
April 30, 2021 | April 30, 2020 | |||
Shares | Dollars ($) | Shares | Dollars ($) | |
Capital stock activity | ||||
Class A | ||||
Distributions reinvested | — | — | 550 | 3,815 |
Redemptions | — | — | (81,210) | (562,971) |
Net decrease | — | — | (80,660) | (559,156) |
Institutional Class | ||||
Subscriptions | 8,789,623 | 55,388,433 | 7,489,953 | 49,620,671 |
Distributions reinvested | — | — | 286,212 | 1,969,137 |
Redemptions | (7,151,858) | (45,536,464) | (8,100,665) | (52,727,103) |
Net increase (decrease) | 1,637,765 | 9,851,969 | (324,500) | (1,137,295) |
Total net increase (decrease) | 1,637,765 | 9,851,969 | (405,160) | (1,696,451) |
36 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
Institutional Class | Year Ended April 30, | ||||
2021 | 2020 | 2019 | 2018 | 2017 (a) | |
Per share data | |||||
Net asset value, beginning of period | $6.00 | $6.78 | $10.82 | $10.60 | $10.25 |
Income (loss) from investment operations: | |||||
Net investment loss | (0.08) | (0.01) | (0.01) | (0.09) | (0.01) |
Net realized and unrealized gain (loss) | 1.31 | (0.72) | (0.80) | 0.92 | 0.36 |
Total from investment operations | 1.23 | (0.73) | (0.81) | 0.83 | 0.35 |
Distributions to shareholders | |||||
Distributions from net investment income | — | — | (0.06) | (0.18) | — |
Distributions from net realized gains | — | (0.05) | (3.17) | (0.43) | — |
Total distributions to shareholders | — | (0.05) | (3.23) | (0.61) | — |
Net asset value, end of period | $7.23 | $6.00 | $6.78 | $10.82 | $10.60 |
Total return | 20.50% | (10.81%) | (5.65%) | 7.67% | 3.41% |
Ratios to average net assets | |||||
Total gross expenses(b) | 2.90%(c),(d),(e) | 2.31%(c),(d) | 2.16%(c),(d),(e) | 2.36%(c) | 2.49%(c),(f) |
Total net expenses(b),(g) | 2.71%(c),(d),(e) | 2.19%(c),(d) | 2.12%(c),(d),(e) | 2.36%(c) | 2.29%(c),(f) |
Net investment loss | (1.31%) | (0.14%) | (0.11%) | (0.83%) | (0.05%)(f) |
Supplemental data | |||||
Net assets, end of period (in thousands) | $278,350 | $221,159 | $251,976 | $290,666 | $1,049,952 |
Portfolio turnover | 254% | 197% | 146%(h) | 158% | 100% |
Notes to Financial Highlights | |
(a) | Institutional Class shares commenced operations on January 3, 2017. Per share data and total return reflect activity from that date. |
(b) | In addition to the fees and expenses that the Fund bears directly, the Fund indirectly bears a pro rata share of the fees and expenses of any other funds in which it invests. Such indirect expenses are not included in the Fund’s reported expense ratios. |
(c) | Ratios include dividends and interest on securities sold short. If dividends and interest on securities sold short had been excluded, expenses would have been lower by: |
Class | 4/30/2021 | 4/30/2020 | 4/30/2019 | 4/30/2018 | 4/30/2017 |
Institutional Class | 0.87% | 0.32% | 0.19% | 0.40% | 0.46% |
(d) | Ratios include interest on collateral expense which is less than 0.01%. |
(e) | Ratios include interfund lending expense which is less than 0.01%. |
(f) | Annualized. |
(g) | Total net expenses include the impact of certain fee waivers/expense reimbursements made by the Investment Manager and certain of its affiliates, if applicable. |
(h) | The rate for the year ended April 30, 2019, as disclosed in the April 30, 2020 and 2019 financial statements was calculated and presented incorrectly and has been corrected. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 37 |
April 30, 2021
38 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 39 |
April 30, 2021
40 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 41 |
April 30, 2021
Asset derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on futures contracts | 1,817,916* |
Equity risk | Component of total distributable earnings (loss) — unrealized appreciation on swap contracts | 14,195* |
Foreign exchange risk | Unrealized appreciation on forward foreign currency exchange contracts | 173,797 |
Total | 2,005,908 |
Liability derivatives | ||
Risk exposure category | Statement of assets and liabilities location | Fair value ($) |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on futures contracts | 3,341* |
Equity risk | Component of total distributable earnings (loss) — unrealized depreciation on swap contracts | 1,018,981* |
Foreign exchange risk | Unrealized depreciation on forward foreign currency exchange contracts | 228,972 |
Total | 1,251,294 |
* | Includes cumulative appreciation (depreciation) as reported in the tables following the Portfolio of Investments. Only the current day’s variation margin is reported in receivables or payables in the Statement of Assets and Liabilities. |
42 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Amount of realized gain (loss) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Swap contracts ($) | Total ($) |
Equity risk | — | 12,585,523 | 3,476,474 | 16,061,997 |
Foreign exchange risk | 727,503 | — | — | 727,503 |
Total | 727,503 | 12,585,523 | 3,476,474 | 16,789,500 |
Change in unrealized appreciation (depreciation) on derivatives recognized in income | ||||
Risk exposure category | Forward foreign currency exchange contracts ($) | Futures contracts ($) | Swap contracts ($) | Total ($) |
Equity risk | — | (948,448) | (949,874) | (1,898,322) |
Foreign exchange risk | (25,246) | — | — | (25,246) |
Total | (25,246) | (948,448) | (949,874) | (1,923,568) |
Derivative instrument | Average notional amounts ($)* |
Futures contracts — long | 32,771,156 |
Derivative instrument | Average unrealized appreciation ($)* | Average unrealized depreciation ($)* |
Forward foreign currency exchange contracts | 254,583 | (172,040) |
Total return swap contracts | 132,256 | (723,272) |
* | Based on the ending quarterly outstanding amounts for the year ended April 30, 2021. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 43 |
April 30, 2021
Citi ($) | JPMorgan ($) (a) | JPMorgan ($)(a) | Macquarie ($) | Morgan Stanley ($) | Morgan Stanley International ($) | Total ($) | |
Assets | |||||||
Forward foreign currency exchange contracts | 86,901 | - | 86,896 | - | - | - | 173,797 |
OTC total return swap contracts (b) | - | - | - | 7,992 | - | - | 7,992 |
OTC total return swap contracts on futures (b) | 6,203 | - | - | - | - | - | 6,203 |
Total assets | 93,104 | - | 86,896 | 7,992 | - | - | 187,992 |
Liabilities | |||||||
Forward foreign currency exchange contracts | 114,480 | - | 114,492 | - | - | - | 228,972 |
OTC total return swap contracts (b) | - | - | 86,955 | 21,297 | - | 894,338 | 1,002,590 |
OTC total return swap contracts on futures (b) | - | - | 1,675 | - | - | 14,716 | 16,391 |
Securities borrowed | - | 43,159,580 | - | - | 55,714,051 | - | 98,873,631 |
Total liabilities | 114,480 | 43,159,580 | 203,122 | 21,297 | 55,714,051 | 909,054 | 100,121,584 |
Total financial and derivative net assets | (21,376) | (43,159,580) | (116,226) | (13,305) | (55,714,051) | (909,054) | (99,933,592) |
Total collateral received (pledged) (c) | (21,376) | (43,159,580) | (116,226) | (13,305) | (55,714,051) | (909,054) | (99,933,592) |
Net amount (d) | - | - | - | - | - | - | - |
(a) | Exposure can only be netted across transactions governed under the same master agreement with the same legal entity. |
(b) | Over-the-Counter (OTC) swap contracts are presented at market value plus periodic payments receivable (payable), which is comprised of unrealized appreciation, unrealized depreciation, upfront payments and upfront receipts. |
(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. |
44 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 45 |
April 30, 2021
Effective rate (%) | |
Institutional Class | 0.21 |
46 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Fee rate(s) contractual through August 31, 2021 | |
Institutional Class | 1.84% |
Undistributed net investment income ($) | Accumulated net realized (loss) ($) | Paid in capital ($) |
9,415,628 | (5,237,140) | (4,178,488) |
Year Ended April 30, 2021 | Year Ended April 30, 2020 | ||||
Ordinary income ($) | Long-term capital gains ($) | Total ($) | Ordinary income ($) | Long-term capital gains ($) | Total ($) |
— | — | — | — | 1,973,018 | 1,973,018 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 47 |
April 30, 2021
Undistributed ordinary income ($) | Undistributed long-term capital gains ($) | Capital loss carryforwards ($) | Net unrealized appreciation ($) |
— | 6,453,970 | — | 31,790,945 |
Federal tax cost ($) | Gross unrealized appreciation ($) | Gross unrealized (depreciation) ($) | Net unrealized appreciation ($) |
118,629,039 | 45,623,418 | (13,832,473) | 31,790,945 |
Borrower or lender | Average loan balance ($) | Weighted average interest rate (%) | Number of days with outstanding loans |
Borrower | 337,500 | 0.65 | 8 |
48 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 49 |
April 30, 2021
50 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
April 30, 2021
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 51 |
52 | Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 |
Capital gain dividend | |
$6,776,669 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1953 | Trustee since 2017 | Executive Vice President, Global Head of Technology and Operations, Janus Capital Group, Inc., 2010-2016 | 170 | 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 |
Multi-Manager Directional Alternative Strategies 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 |
Kathleen Blatz c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1957 | Trustee since 1996 | Senior Vice President, General Counsel and Corporate Secretary, ConocoPhillips (independent energy company), September 2007-October 2018 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | Former Director, University of Edinburgh Business School (Member of US Board); former Director, Boston Public Library Foundation |
54 | Multi-Manager Directional Alternative Strategies 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1954 | Trustee since 2017 | Retired; Partner with Deloitte & Touche LLP and its predecessors, 1977-2016 | 170 | Trustee, Catholic Schools Foundation since 2004 |
Douglas A. Hacker c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | |
David M. Moffett c/o Columbia Management Investment Advisers, LLC 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Trustee since 2011 | Retired; Consultant to Bridgewater and Associates | 168 | 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 |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 55 |
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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1952 | Co-Chair since 2021; Chair of CFST, CFST II, CFVST II, Columbia ETF Trust I and Columbia ETF Trust 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. | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 1947 | Trustee since 2003 | President, Micco LLC (private investments) since 2011; President, Micco Corp. (family investment business), 1998-2011 | 170 | 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 |
56 | Multi-Manager Directional Alternative Strategies 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 168 | 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 225 Franklin Street Mail Drop BX32 05228 Boston, MA 02110 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 | 170 | 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, Columbia ETF Trust 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, Columbia ETF Trust I, Columbia ETF Trust 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) | Vice President and Lead Chief Counsel, Ameriprise Financial, Inc. since January 2015 (previously Vice President and Chief Counsel, January 2010-December 2014); officer of Columbia Funds and affiliated funds since 2007 | 170 | 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). |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 57 |
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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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, Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 1968 | Treasurer and Chief Accounting Officer (Principal Accounting Officer) and Principal Financial Officer (2020) for Columbia ETF Trust I and Columbia ETF Trust 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 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
58 | Multi-Manager Directional Alternative Strategies 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 |
Colin Moore 225 Franklin Street Boston, MA 02110 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. |
Ryan C. Larrenaga 225 Franklin Street Boston, MA 02110 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 225 Franklin Street Boston, MA 02110 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. |
Multi-Manager Directional Alternative Strategies Fund | Annual Report 2021 | 59 |
Trustee | Votes for | Votes withheld | Abstentions |
George S. Batejan | 86,127,701,985 | 836,188,991 | 0 |
Kathleen Blatz | 86,243,229,991 | 720,660,985 | 0 |
Pamela G. Carlton | 86,264,105,441 | 699,785,535 | 0 |
Janet Langford Carrig | 86,054,199,101 | 909,691,875 | 0 |
J. Kevin Connaughton | 86,079,927,846 | 883,963,131 | 0 |
Olive M. Darragh | 86,229,808,655 | 734,082,321 | 0 |
Patricia M. Flynn | 86,198,477,183 | 765,413,793 | 0 |
Brian J. Gallagher | 86,107,199,569 | 856,691,407 | 0 |
Douglas A. Hacker | 85,856,681,960 | 1,107,209,016 | 0 |
Nancy T. Lukitsh | 86,082,583,872 | 881,307,104 | 0 |
David M. Moffett | 85,916,196,449 | 1,047,694,527 | 0 |
Catherine James Paglia | 86,220,544,249 | 743,346,727 | 0 |
Anthony M. Santomero | 86,032,441,166 | 931,449,811 | 0 |
Minor M. Shaw | 86,027,511,771 | 936,379,205 | 0 |
Natalie A. Trunow | 86,222,277,961 | 741,613,015 | 0 |
Sandra Yeager | 86,214,429,708 | 749,461,268 | 0 |
Christopher O. Petersen | 86,067,188,679 | 896,702,297 | 0 |
60 | Multi-Manager Directional Alternative Strategies 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 six series of the registrant whose reports to stockholders are included in this annual filing. Fiscal years 2020 and 2021 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 April 30, 2021 and April 30, 2020 are approximately as follows:
20212020
$279,900 $275,000
Audit Fees include amounts related to the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years.
(b)Audit-Related Fees. Aggregate Audit-Related Fees billed to the registrant by the principal accountant for professional services rendered during the fiscal years ended April 30, 2021 and April 30, 2020 are approximately as follows:
20212020
$5,200 $9,500
Audit-Related Fees, include amounts for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported in Audit Fees above.
During the fiscal years ended April 30, 2021 and April 30, 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 April 30, 2021 and April 30,
2020 are approximately as follows:
2021 | 2020 |
$0 | $0 |
Tax Fees, if any, include amounts for the review of annual tax returns, the review of required shareholder distribution calculations and typically include amounts for professional services by the principal accountant for tax compliance, tax advice and tax planning.
During the fiscal years ended April 30, 2021 and April 30, 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 April 30, 2021 and April 30, 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 April 30,
2021 and April 30, 2020 are approximately as follows:
20212020
$525,200 $547,000
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 April 30, 2021 and April 30,
2020 are approximately as follows:
20212020
$520,000 $537,500
(h)The registrant's Audit Committee of the Board of Directors has considered whether the provision of non-audit services that were rendered to the registrant's adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to
paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X, is compatible with maintaining the principal accountant's independence.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments
(a)The registrant's "Schedule I – Investments in securities of unaffiliated issuers" (as set forth in 17 CFR 210.12-12) is included in Item 1 of this Form N-CSR.
(b)Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 11. Controls and Procedures.
(a)The registrant's principal executive officer and principal financial officer, based on their evaluation of the registrant's disclosure controls and procedures as of a date within 90 days of the filing of this report, have concluded that such controls and procedures are adequately designed to ensure that information required to be disclosed by the registrant in Form N-CSR is accumulated and communicated to the registrant's management, including the principal executive officer and principal financial officer, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.
(b)There was no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 13. Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized. |
| ||
(registrant) |
| Columbia Funds Series Trust I | |
By (Signature and Title) | /s/ Daniel J. Beckman | ||
|
|
| Daniel J. Beckman, President and Principal Executive Officer |
Date |
| June 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 |
| June 22, 2021 |
|
By (Signature and Title) | /s/ Michael G. Clarke | ||
|
| Michael G. Clarke, Chief Financial Officer, Principal Financial Officer | |
|
| and Senior Vice President | |
Date |
| June 22, 2021 |
|
By (Signature and Title) | /s/ Joseph Beranek | ||
|
| Joseph Beranek, Treasurer, Chief Accounting Officer and Principal | |
|
| Financial Officer | |
Date |
| June 22, 2021 |
|