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First Quarter Report
May 31, 2023 (Unaudited)
May 31, 2023 (Unaudited)
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Columbia Convertible Securities Fund
Not FDIC or NCUA Insured • No Financial Institution Guarantee • May Lose Value
Portfolio of Investments
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in securities
Common Stocks 2.3% | ||
Issuer | Shares | Value ($) |
Energy 1.4% | ||
Oil, Gas & Consumable Fuels 1.4% | ||
Ascent Resources, Class B(a),(b),(c),(d) | 10,248,729 | 2,295,715 |
EQT Corp. | 185,000 | 6,432,450 |
Pioneer Natural Resources Co. | 55,200 | 11,009,088 |
Total | 19,737,253 | |
Total Energy | 19,737,253 | |
Information Technology 0.5% | ||
Semiconductors & Semiconductor Equipment 0.5% | ||
Microchip Technology, Inc. | 100,000 | 7,526,000 |
Total Information Technology | 7,526,000 | |
Real Estate 0.4% | ||
Retail REITs 0.4% | ||
Kite Realty Group Trust | 315,000 | 6,123,600 |
Total Real Estate | 6,123,600 | |
Total Common Stocks (Cost $28,009,352) | 33,386,853 |
Convertible Bonds(e) 85.4% | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Aerospace & Defense 0.7% | ||||
Axon Enterprise, Inc.(f) | ||||
12/15/2027 | 0.500% | 9,232,000 | 9,841,312 | |
Airlines 1.7% | ||||
American Airlines Group, Inc. | ||||
07/01/2025 | 6.500% | 10,350,000 | 11,959,932 | |
JetBlue Airways Corp. | ||||
04/01/2026 | 0.500% | 15,680,000 | 12,199,831 | |
Total | 24,159,763 | |||
Automotive 1.2% | ||||
Lucid Group, Inc.(f) | ||||
12/15/2026 | 1.250% | 14,360,000 | 6,950,240 | |
Rivian Automotive, Inc.(f) | ||||
03/15/2029 | 4.625% | 10,000,000 | 10,065,000 | |
Total | 17,015,240 | |||
Cable and Satellite 3.0% | ||||
Cable One, Inc. | ||||
03/15/2028 | 1.125% | 14,000,000 | 10,423,000 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
DISH Network Corp. | ||||
Subordinated | ||||
08/15/2026 | 3.375% | 42,778,000 | 19,198,766 | |
Liberty Media Corp-Liberty Formula One(f) | ||||
08/15/2027 | 2.250% | 14,000,000 | 14,595,000 | |
Total | 44,216,766 | |||
Consumer Cyclical Services 2.6% | ||||
Lyft, Inc. | ||||
05/15/2025 | 1.500% | 8,380,000 | 7,516,860 | |
Match Group FinanceCo 3, Inc.(f) | ||||
01/15/2030 | 2.000% | 17,348,000 | 14,345,061 | |
Virgin Galactic Holdings, Inc.(f) | ||||
02/01/2027 | 2.500% | 11,850,000 | 4,682,129 | |
Zillow Group, Inc. | ||||
05/15/2025 | 2.750% | 10,754,000 | 11,055,112 | |
Total | 37,599,162 | |||
Consumer Products 0.7% | ||||
Beauty Health Co. (The)(f) | ||||
10/01/2026 | 1.250% | 12,850,000 | 9,926,625 | |
Diversified Manufacturing 3.1% | ||||
Array Technologies, Inc. | ||||
12/01/2028 | 1.000% | 6,040,000 | 6,788,960 | |
Bloom Energy Corp. | ||||
08/15/2025 | 2.500% | 8,000,000 | 8,800,000 | |
Enphase Energy, Inc.(g) | ||||
03/01/2028 | 0.000% | 12,069,000 | 11,600,994 | |
Greenbrier Companies, Inc. (The) | ||||
04/15/2028 | 2.875% | 12,988,000 | 10,585,220 | |
John Bean Technologies Corp. | ||||
05/15/2026 | 0.250% | 8,130,000 | 7,430,820 | |
Total | 45,205,994 | |||
Electric 3.4% | ||||
CenterPoint Energy, Inc.(h) | ||||
Subordinated | ||||
09/15/2029 | 3.369% | 286,500 | 9,872,790 | |
Duke Energy Corp.(f) | ||||
04/15/2026 | 4.125% | 18,500,000 | 18,315,000 | |
FirstEnergy Corp.(f) | ||||
05/01/2026 | 4.000% | 11,000,000 | 10,961,500 | |
Sunnova Energy International, Inc.(f) | ||||
02/15/2028 | 2.625% | 12,820,000 | 10,184,208 | |
Total | 49,333,498 |
2 | Columbia Convertible Securities Fund | First Quarter Report 2023 |
Portfolio of Investments (continued)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Food and Beverage 1.2% | ||||
Chefs’ Warehouse, Inc. (The)(f) | ||||
12/15/2028 | 2.375% | 7,000,000 | 6,919,474 | |
Post Holdings, Inc.(f) | ||||
08/15/2027 | 2.500% | 10,900,000 | 11,038,430 | |
Total | 17,957,904 | |||
Gaming 0.6% | ||||
Wynn Macau, Ltd.(f) | ||||
03/07/2029 | 4.500% | 9,000,000 | 9,222,812 | |
Health Care 10.0% | ||||
Accolade, Inc. | ||||
04/01/2026 | 0.500% | 9,000,000 | 7,245,000 | |
CONMED Corp.(f) | ||||
06/15/2027 | 2.250% | 13,067,000 | 13,824,886 | |
Dexcom, Inc.(f) | ||||
05/15/2028 | 0.375% | 45,000,000 | 44,662,500 | |
Exact Sciences Corp. | ||||
03/01/2028 | 0.375% | 25,980,000 | 24,956,388 | |
Insulet Corp. | ||||
09/01/2026 | 0.375% | 9,830,000 | 13,054,240 | |
Integer Holdings Corp.(f) | ||||
02/15/2028 | 2.125% | 9,300,000 | 10,536,900 | |
LivaNova USA, Inc. | ||||
12/15/2025 | 3.000% | 10,500,000 | 10,631,250 | |
Natera, Inc. | ||||
05/01/2027 | 2.250% | 7,373,000 | 10,395,930 | |
Teladoc Health, Inc. | ||||
06/01/2027 | 1.250% | 12,000,000 | 9,527,225 | |
Total | 144,834,319 | |||
Healthcare REIT 0.8% | ||||
Welltower OP LLC(f) | ||||
05/15/2028 | 2.750% | 11,500,000 | 11,339,000 | |
Independent Energy 0.8% | ||||
Chesapeake Energy Escrow | ||||
09/15/2026 | 0.000% | 10,200,000 | 178,500 | |
Northern Oil and Gas, Inc.(f) | ||||
04/15/2029 | 3.625% | 11,000,000 | 11,425,009 | |
Total | 11,603,509 | |||
Leisure 4.7% | ||||
Carnival Corp.(f) | ||||
12/01/2027 | 5.750% | 10,500,000 | 12,285,000 | |
Live Nation Entertainment, Inc.(f) | ||||
01/15/2029 | 3.125% | 14,890,000 | 15,537,715 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
NCL Corp., Ltd. | ||||
02/15/2027 | 2.500% | 33,550,000 | 27,041,300 | |
Royal Caribbean Cruises Ltd.(f) | ||||
08/15/2025 | 6.000% | 7,140,000 | 12,755,610 | |
Total | 67,619,625 | |||
Lodging 0.8% | ||||
Marriott Vacations Worldwide Corp.(f) | ||||
12/15/2027 | 3.250% | 11,680,000 | 11,084,320 | |
Media and Entertainment 3.6% | ||||
Bilibili, Inc. | ||||
12/01/2026 | 0.500% | 17,220,000 | 14,266,770 | |
fuboTV, Inc. | ||||
02/15/2026 | 3.250% | 18,000,000 | 8,993,450 | |
Snap, Inc. | ||||
03/01/2028 | 0.125% | 42,000,000 | 29,442,000 | |
Total | 52,702,220 | |||
Metals and Mining 2.4% | ||||
Ivanhoe Mines Ltd.(f) | ||||
04/15/2026 | 2.500% | 5,775,000 | 6,797,491 | |
Lithium Americas Corp. | ||||
01/15/2027 | 1.750% | 16,780,000 | 13,021,280 | |
MP Materials Corp.(f) | ||||
04/01/2026 | 0.250% | 9,870,000 | 8,494,122 | |
Peabody Energy Corp. | ||||
03/01/2028 | 3.250% | 6,000,000 | 7,245,000 | |
Total | 35,557,893 | |||
Oil Field Services 0.5% | ||||
Nabors Industries, Inc.(f) | ||||
06/15/2029 | 1.750% | 10,000,000 | 7,110,695 | |
Other Financial Institutions 0.6% | ||||
Encore Capital Group, Inc.(f) | ||||
03/15/2029 | 4.000% | 9,500,000 | 8,727,765 | |
Other Industry 0.5% | ||||
KBR, Inc. | ||||
11/01/2023 | 2.500% | 3,040,000 | 7,061,920 | |
Pharmaceuticals 10.2% | ||||
Alnylam Pharmaceuticals, Inc.(f) | ||||
09/15/2027 | 1.000% | 11,380,000 | 10,811,000 | |
Apellis Pharmaceuticals, Inc. | ||||
09/15/2026 | 3.500% | 2,200,000 | 4,962,100 | |
BridgeBio Pharma, Inc. | ||||
02/01/2029 | 2.250% | 22,700,000 | 13,719,880 |
Columbia Convertible Securities Fund | First Quarter Report 2023 | 3 |
Portfolio of Investments (continued)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Canopy Growth Corp.(f) | ||||
07/15/2023 | 4.250% | CAD | 13,000,000 | 9,136,611 |
Clovis Oncology, Inc.(i) | ||||
05/01/2025 | 0.000% | 21,000,000 | 2,467,500 | |
Collegium Pharmaceutical, Inc.(f) | ||||
02/15/2029 | 2.875% | 8,000,000 | 6,930,400 | |
Cytokinetics, Inc.(f) | ||||
07/01/2027 | 3.500% | 11,000,000 | 11,048,125 | |
Esperion Therapeutics, Inc. | ||||
11/15/2025 | 4.000% | 13,900,000 | 5,699,000 | |
Halozyme Therapeutics, Inc. | ||||
03/01/2027 | 0.250% | 16,390,000 | 13,379,157 | |
Insmed, Inc. | ||||
06/01/2028 | 0.750% | 19,030,000 | 15,271,575 | |
Ionis Pharmaceuticals, Inc.(g) | ||||
04/01/2026 | 0.000% | 15,740,000 | 14,854,625 | |
Jazz Investments I Ltd. | ||||
06/15/2026 | 2.000% | 10,100,000 | 10,415,625 | |
Mirum Pharmaceuticals, Inc.(f) | ||||
05/01/2029 | 4.000% | 7,000,000 | 7,920,500 | |
PTC Therapeutics, Inc. | ||||
09/15/2026 | 1.500% | 10,000,000 | 10,395,000 | |
Sarepta Therapeutics, Inc.(f) | ||||
09/15/2027 | 1.250% | 8,870,000 | 10,156,150 | |
Total | 147,167,248 | |||
Retailers 4.3% | ||||
Burlington Stores, Inc. | ||||
04/15/2025 | 2.250% | 10,000,000 | 10,012,500 | |
Etsy, Inc. | ||||
06/15/2028 | 0.250% | 28,130,000 | 21,280,345 | |
Farfetch Ltd. | ||||
05/01/2027 | 3.750% | 10,380,000 | 7,940,700 | |
Wayfair, Inc. | ||||
08/15/2026 | 1.000% | 33,745,000 | 23,473,022 | |
Total | 62,706,567 | |||
Technology 27.3% | ||||
2U, Inc. | ||||
05/01/2025 | 2.250% | 16,750,000 | 11,060,361 | |
Akamai Technologies, Inc. | ||||
09/01/2027 | 0.375% | 11,725,000 | 11,579,694 | |
Bandwidth, Inc. | ||||
03/01/2026 | 0.250% | 10,000,000 | 7,725,000 | |
Bentley Systems, Inc. | ||||
07/01/2027 | 0.375% | 17,000,000 | 14,892,835 |
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
BigCommerce Holdings, Inc. | ||||
10/01/2026 | 0.250% | 16,780,000 | 12,903,820 | |
Bill.com Holdings, Inc.(g) | ||||
04/01/2027 | 0.000% | 28,000,000 | 22,627,500 | |
Datadog, Inc. | ||||
06/15/2025 | 0.125% | 13,523,000 | 16,450,729 | |
Dropbox, Inc.(g) | ||||
03/01/2028 | 0.000% | 16,500,000 | 14,808,750 | |
Envestnet, Inc. | ||||
Subordinated | ||||
08/15/2025 | 0.750% | 12,000,000 | 10,792,500 | |
Everbridge, Inc. | ||||
12/15/2024 | 0.125% | 10,850,000 | 9,737,875 | |
IMAX Corp. | ||||
04/01/2026 | 0.500% | 9,000,000 | 8,306,297 | |
indie Semiconductor, Inc.(f) | ||||
11/15/2027 | 4.500% | 7,420,000 | 9,968,770 | |
Infinera Corp.(f) | ||||
08/01/2028 | 3.750% | 9,030,000 | 9,202,105 | |
Lumentum Holdings, Inc. | ||||
06/15/2028 | 0.500% | 29,137,000 | 22,380,130 | |
MACOM Technology Solutions Holdings, Inc. | ||||
03/15/2026 | 0.250% | 15,881,000 | 15,420,451 | |
Marathon Digital Holdings, Inc. | ||||
12/01/2026 | 1.000% | 17,780,000 | 8,377,694 | |
Model N, Inc.(f) | ||||
03/15/2028 | 1.875% | 11,000,000 | 10,960,858 | |
MongoDB, Inc. | ||||
01/15/2026 | 0.250% | 7,870,000 | 11,836,480 | |
Nutanix, Inc. | ||||
10/01/2027 | 0.250% | 13,000,000 | 11,310,000 | |
Okta, Inc. | ||||
06/15/2026 | 0.375% | 21,000,000 | 18,259,500 | |
ON Semiconductor Corp.(f) | ||||
03/01/2029 | 0.500% | 31,000,000 | 32,590,300 | |
Palo Alto Networks, Inc. | ||||
06/01/2025 | 0.375% | 15,347,000 | 33,019,070 | |
Shift4 Payments, Inc. | ||||
08/01/2027 | 0.500% | 14,230,000 | 12,273,375 | |
SMART Global Holdings, Inc. | ||||
02/01/2029 | 2.000% | 11,980,000 | 14,735,400 | |
Tyler Technologies, Inc. | ||||
03/15/2026 | 0.250% | 10,500,000 | 10,668,000 | |
Veeco Instruments, Inc.(f) | ||||
06/01/2029 | 2.875% | 8,000,000 | 8,616,000 |
4 | Columbia Convertible Securities Fund | First Quarter Report 2023 |
Portfolio of Investments (continued)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Convertible Bonds(e) (continued) | ||||
Issuer | Coupon Rate | Principal Amount ($) | Value ($) | |
Wolfspeed, Inc.(f) | ||||
12/01/2029 | 1.875% | 16,083,000 | 11,740,590 | |
Zscaler, Inc. | ||||
07/01/2025 | 0.125% | 11,570,000 | 12,987,325 | |
Total | 395,231,409 | |||
Transportation Services 0.7% | ||||
CryoPort, Inc.(f) | ||||
12/01/2026 | 0.750% | 13,850,000 | 10,941,500 | |
Total Convertible Bonds (Cost $1,375,099,093) | 1,238,167,066 |
Convertible Preferred Stocks 9.7% | |||
Issuer | Shares | Value ($) | |
Financials 2.7% | |||
Banks 1.9% | |||
Bank of America Corp.(j) | 7.250% | 18,648 | 21,631,680 |
New York Community Capital Trust V | 6.000% | 153,225 | 6,198,028 |
Total | 27,829,708 | ||
Capital Markets 0.8% | |||
KKR & Co., Inc. | 6.000% | 180,000 | 11,001,600 |
Total Financials | 38,831,308 | ||
Health Care 0.7% | |||
Health Care Equipment & Supplies 0.7% | |||
Becton Dickinson & Co. | 6.000% | 200,000 | 9,633,654 |
Total Health Care | 9,633,654 | ||
Industrials 1.4% | |||
Machinery 0.8% | |||
Chart Industries, Inc., ADR | 6.750% | 255,300 | 12,126,750 |
Professional Services 0.6% | |||
Clarivate PLC | 5.250% | 249,550 | 8,690,675 |
Total Industrials | 20,817,425 |
Convertible Preferred Stocks (continued) | |||
Issuer | Shares | Value ($) | |
Information Technology 0.3% | |||
Electronic Equipment, Instruments & Components 0.3% | |||
Coherent Corp. | 6.000% | 30,000 | 4,950,354 |
Total Information Technology | 4,950,354 | ||
Utilities 4.6% | |||
Electric Utilities 2.9% | |||
American Electric Power Co., Inc. | 6.125% | 200,000 | 9,713,321 |
NextEra Energy, Inc. | 6.926% | 700,000 | 31,766,000 |
Total | 41,479,321 | ||
Gas Utilities 0.4% | |||
UGI Corp. | 7.250% | 95,000 | 6,318,450 |
Multi-Utilities 1.3% | |||
NiSource, Inc. | 7.750% | 180,000 | 18,167,400 |
Total Utilities | 65,965,171 | ||
Total Convertible Preferred Stocks (Cost $156,758,657) | 140,197,912 |
Money Market Funds 0.6% | ||
Shares | Value ($) | |
Columbia Short-Term Cash Fund, 5.241%(k),(l) | 8,722,884 | 8,718,523 |
Total Money Market Funds (Cost $8,718,411) | 8,718,523 | |
Total Investments in Securities (Cost: $1,568,585,513) | 1,420,470,354 | |
Other Assets & Liabilities, Net | 28,729,948 | |
Net Assets | 1,449,200,302 |
Columbia Convertible Securities Fund | First Quarter Report 2023 | 5 |
Portfolio of Investments (continued)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Columbia Convertible Securities Fund, May 31, 2023 (Unaudited)
Notes to Portfolio of Investments
(a) | Represents fair value as determined in good faith under procedures approved by the Board of Trustees. At May 31, 2023, the total value of these securities amounted to $2,295,715, which represents 0.16% of total net assets. |
(b) | Non-income producing investment. |
(c) | Denotes a restricted security, which is subject to legal or contractual restrictions on resale under federal securities laws. Disposal of a restricted investment may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. Private placement securities are generally considered to be restricted, although certain of those securities may be traded between qualified institutional investors under the provisions of Section 4(a)(2) and Rule 144A. The Fund will not incur any registration costs upon such a trade. These securities are valued at fair value determined in good faith under consistently applied procedures approved by the Fund’s Board of Trustees. At May 31, 2023, the total market value of these securities amounted to $2,295,715, which represents 0.16% of total net assets. Additional information on these securities is as follows: |
Security | Acquisition Dates | Shares | Cost ($) | Value ($) |
Ascent Resources, Class B | 02/20/2014-11/15/2016 | 10,248,729 | 358,011 | 2,295,715 |
(d) | Valuation based on significant unobservable inputs. |
(e) | Principal amounts are denominated in United States Dollars unless otherwise noted. |
(f) | 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 May 31, 2023, the total value of these securities amounted to $461,650,713, which represents 31.86% of total net assets. |
(g) | Zero coupon bond. |
(h) | Represents a variable rate security with a step coupon where the rate adjusts according to a schedule for a series of periods, typically lower for an initial period and then increasing to a higher coupon rate thereafter. The interest rate shown was the current rate as of May 31, 2023. |
(i) | Represents a security in default. |
(j) | Perpetual security with no specified maturity date. |
(k) | The rate shown is the seven-day current annualized yield at May 31, 2023. |
(l) | As defined in the Investment Company Act of 1940, as amended, an affiliated company is one in which the Fund owns 5% or more of the company’s outstanding voting securities, or a company which is under common ownership or control with the Fund. The value of the holdings and transactions in these affiliated companies during the period ended May 31, 2023 are as follows: |
Affiliated issuers | Beginning of period($) | Purchases($) | Sales($) | Net change in unrealized appreciation (depreciation)($) | End of period($) | Realized gain (loss)($) | Dividends($) | End of period shares |
Columbia Short-Term Cash Fund, 5.241% | ||||||||
6,891,405 | 230,952,969 | (229,125,946) | 95 | 8,718,523 | 3,301 | 255,217 | 8,722,884 |
Abbreviation Legend
ADR | American Depositary Receipt |
Currency Legend
CAD | Canada Dollar |
Investments are valued using policies described in the Notes to Financial Statements in the most recent shareholder report.
6 | Columbia Convertible Securities Fund | First Quarter Report 2023 |
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You may at any time request, free of charge, to receive a paper copy of this report by calling 800.345.6611.
1QT134_02_N01_(07/23)